GigaCloud's E-Commerce Success Story Is Fact or Fiction? Culper Research's Short Report Raises Doubts
GigaCloud's E-Commerce Success Story Is Fact or Fiction? Culper Research's Short Report Raises Doubts
Culper Research is short on GigaCloud Technology Inc (NASDAQ:GCT), noting the company presents itself as a top-tier e-commerce logistics company, boasting impressive achievements such as tripling Gross Merchandise Value to $607.5 million in the last three years and generating $155 million in service revenues.
Culper 研究 是短的 GigaCloud 科技公司 納斯達克股票代碼：GCT）指出，該公司自稱是一家頂級的電子商務物流公司，取得了令人印象深刻的成就，例如在過去三年中，商品總價值增長了三倍，達到6.075億美元，並創造了1.55億美元的服務收入。
They attribute their success to their AI technology, which has made them consistently profitable and more efficient than their competitors in the fiercely competitive e-commerce and logistics sector.
他們將自己的成功歸功於他們的人工智能技術，這使他們在競爭激烈的電子商務和物流領域比競爭對手持續盈利，效率更高。
Benzinga has reached out to the company for comments on the short-seller report.
Benzinga已聯繫該公司徵求對賣空報告的意見。
Culper highlights the following flaws in the above narrative - GigaCloud's assertion of running 14 U.S. warehouses with only 73 employees suggests an extraordinarily low workforce of approximately five employees per warehouse.
卡爾珀強調了上述敘述中的以下缺陷——GigaCloud斷言運營14個美國倉庫，只有73名員工，這表明每個倉庫的員工人數極少，只有大約五名員工。
This efficiency appears highly improbable given the vast size of these warehouses, totaling over 3.7 million square feet and purportedly handling hundreds of millions of dollars worth of furniture.
鑑於這些倉庫規模龐大，總面積超過370萬平方英尺，據稱可以處理價值數億美元的傢俱，這種效率似乎極不可能。
In comparison, typical warehousing and fulfillment operations employ hundreds, if not thousands, of workers at each warehouse.
相比之下，典型的倉儲和配送業務在每個倉庫僱用數百甚至數千名員工。
Furthermore, GigaCloud's claims of being 10 to 100 times more efficient than industry giants like Amazon.com Inc (NASDAQ:AMZN), Walmart Inc (NYSE: WMT), Wayfair Inc (NYSE:W), and Ashley Furniture raise skepticism.
此外，GigaCloud聲稱其效率是行業巨頭的10至100倍 亞馬遜公司 （納斯達克股票代碼：AMZN）， 沃爾瑪公司 （紐約證券交易所代碼：WMT）， Wayfair公司 （紐約證券交易所代碼：W），以及 阿什利傢俱 引起懷疑。
The company has posted only one job opening on its careers page, a stark contrast to its peers who continually hire for numerous positions.
該公司在其招聘頁面上只發布了一個職位空缺，這與持續招聘多個職位的同行形成鮮明對比。
GigaCloud's marketing materials rely on manipulated stock photos to present itself as a thriving and efficient enterprise.
GigaCloud的營銷材料依靠經過操縱的庫存照片來展示自己是一家蓬勃發展、高效的企業。
Onsite visits to the company's warehouses in September painted a starkly contrasting picture, with remarkably minimal activity.
9月份對公司倉庫的現場訪問描繪了一幅截然不同的畫面，活動極少。
GigaCloud asserts that its last-mile delivery segment has generated over $80 million in revenue over the last 12 months.
GigaCloud聲稱，其最後一英里配送領域在過去12個月中創造了超過8000萬美元的收入。
However, according to the Department of Transportation, the logistics subsidiary is registered with just five vehicles.
但是，根據交通部的說法，該物流子公司註冊的車輛只有五輛。
When contacted, a GigaCloud representative stated that the company exclusively uses its vehicles for deliveries.
GigaCloud的一位代表在聯繫時表示，該公司僅使用其車輛進行送貨。
Former employees described GigaCloud's last-mile operation as notably inefficient, in contrast to the company's efficiency claims.
前員工將GigaCloud的最後一英里運營描述爲效率明顯低下，這與該公司的效率聲稱形成鮮明對比。
Price Action: GCT shares are down 23.9% at $7.21 on the last check Thursday.
價格走勢： 在週四的最後一張支票中，GCT股價下跌23.9％，至7.21美元。
Disclaimer: This content was partially produced with the help of AI tools and was reviewed and published by Benzinga editors.
免責聲明： 該內容部分是在人工智能工具的幫助下製作的，並由Benzinga編輯審閱和發佈。
譯文內容由第三人軟體翻譯。