YTOUCH (YMM.US) Q3 revenue rose 33.9% YoY to Rmb3.03bn, and its net profit reached a record high

Market IntelWednesday, Nov 20, 2024 4:20 am ET

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Zhitong Finance learned that on November 20, 2023, YMM.US, a digital freight platform, released its 2024 Q3 financial report. The Company achieved a record high revenue of Rmb3.03bn in Q3, up 33.9% YoY, and recorded an operating profit of Rmb880mn under non-US GAAP, up 92.9% YoY, and a non-US GAAP adjusted net profit of Rmb1240mn, up 50.2% YoY, showing strong profitability.

The report showed that the Company's operating and user data were eye-catching in Q3. The number of completed orders on the platform reached a record high of 51.9mn, up 22.1% YoY. The average monthly active users of shippers on the platform reached a record high of 2.84mn, up 33.6% YoY, and user stickiness and platform activity continued to improve.

The market is full of confidence in the development of Manbang. According to the latest disclosed information, the institutions that increased their holdings in Manbang in Q3 were mainly long-term investment institutions, including Foresight Fund, First Beijing, etc., which are either long-term shareholders of Manbang or newly-added capital after in-depth research.

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