Summary by Futu AI
GOGOX announced its interim performance for the six months ending June 30, 2024, with a 12.8% decrease in revenue from the same period last year, to RMB 324,188 thousand. Gross profit decreased by 5.5% year-on-year, to RMB 112,737 thousand. The loss within the period significantly reduced by 87.1% to RMB 82,904 thousand. Adjusted net loss and adjusted profit before deducting interest, taxes, depreciation, and amortization decreased by 72.1% and 80.1% respectively, reflecting the company's cost control and operational efficiency improvement. During the period, the company recorded a goodwill impairment loss of RMB 51,000 thousand, mainly due to the unsatisfactory growth in revenue and profit from its business in China. As of the end of the reporting period, the company's cash and cash equivalents amounted to RMB 362,991 thousand. GOGOX operates in six countries and regions in Asia, providing logistics solutions through technological innovation. The company will continue to optimize its service products, enhance profitability, and seek expansion opportunities in the Asia-Pacific region in the future.