Automotive Apr 15, 2021 05:58 PM (GMT+8) · EqualOcean
STO Express has released its financial figures for 2020. The company has generated revenue of CNY 21.56 billion (YoY -6.60%). The net profit was CNY 37 million last year (YoY -97.36%). The reason for the poor result is said to be more severe competition, which causes the market price for deliveries to fall. Consequently, it has also raised more debt capital to improve the customer expansion and service capabilities of its franchise stores. This briefing is contributed by and first appeared on CIMK.

Source: CIMK