Manbang (YMM.US) reported 2024 revenue of US$11.24 billion, a 33.2% YoY increase, and adjusted net profit of US$4.02 billion, a 43.7% YoY increase.

YTOUCH (YTOUCH.US) released its 2024 Q4 and full-year earnings report before the market opened on March 5. In 2024 Q4, YTOUCH achieved a record high revenue of Rmb3.17bn, up 31.8% YoY, and its adjusted operating profit under non-US GAAP reached Rmb960mn, up 141.6% YoY. Its net profit under non-US GAAP reached Rmb1.05bn, up 43.5% YoY.

Its full-year revenue in 2024 reached Rmb12.24bn, up 33.2% YoY, and its adjusted operating profit under non-US GAAP reached Rmb3.03bn, up 91.9% YoY. Its net profit under non-US GAAP reached ~Rmb4.02bn, up 43.7% YoY, and its profitability improved significantly.

The company's operating data showed strong growth and new highs. Its fulfillment orders in 2024 reached 197mn for the first time, up 24.1% YoY. Its monthly active users of shippers reached 2.93mn in 2024 Q4, a record high, and its user scale continued to improve.

Major shareholders who increased their positions in YTOUCH in Q4 included the Norway Global Pension Fund (one of the largest sovereign wealth funds in the world), Foresight Fund, First Beijing, JPMorgan, Blackstone, etc. These institutions are either long-term investors in YTOUCH or newly-added capital after in-depth research, further verifying the market's high recognition of YTOUCH's long-term investment value.

YTOUCH also announced that it will implement a semi-annual cash dividend policy starting in 2025, with a total dividend of ~US$200mn in 2025. In addition, YTOUCH extended its share repurchase plan, which was originally scheduled to expire on March 12, 2025, to March 12, 2026, with a repurchase amount of US$200mn.