We recorded net loss in 2020 and 2021, mainly attributable to (i) the selling and distribution expenses resulting from the increase in the number of operation and store management staff and our enhanced marketing activities, and (ii) the increase in administrative expenses primarily driven by the increased employee benefits from the expansion of our administrative team.
Summary · 第 12 页
We recorded a net profit in 2022 and the four months ended April 30, 2023, as we had a significant increase in revenue from the fast expansion of our store network, and a substantial improvement in our operational efficiencies resulting from (i) cost control capabilities benefiting from our growing procurement volumes and enhanced economies of scale, (ii) our increasingly recognized brand, which enabled us to optimize selling and distribution expenses, and (iii) our digitalization efforts resulting in better human resource efficiency.
We recorded a net loss of RMB3.3 million in 2019, and net profits of RMB26.1 million, RMB50.7 million and RMB3.7 million in 2020, 2021 and the nine months ended September 30, 2022, respectively.
Summary · 第 4 页
We incurred net loss and adjusted loss (non-IFRS measure) in 2019, as we were in the early stage of developing our digital freight business, and were not able to fully leverage on the economy of scale to generate enough revenue to cover the costs and expenses incurred.