GOGOX submitted a prospectus to the HKEX to be listed on the main board and became ‘the No.1 stock of inter-city logistics’.
GOGOX (Chinese:快狗打车) filed a prospectus with the main board for an IPO on HKEX under the stock code ‘2246’ on June 24, 2022.
The part of public offering of GOGOX in Hong Kong was oversubscribed about 4.5 times, while the international part was about 1.4 times. Besides, CHERY Auto (Chinese:奇瑞汽车) and GF Global Capital (Chinese:广发资本), the subsidiary of and GF Securities (Chinese:广发证券), participated in the issuance as fundamental investors.
GOGOX ended at HKD 23.10 (USD 2.94) per share, up 7.44% from its issuing price in the first place, giving it a market capitalization of about HKD 14.22 billion (USD 1.81 billion).
GOGOX, founded in 2014 and based in Hong Kong, is a subsidiary of Daojia Group (Chinese:到家集团), possessed of two brands: GOGOX for the Chinese mainland and GOGOX for Hong Kong and foreign market.
GOGOX has conducted business in more than 340 cities in five Asian countries and regions. Until December 31, 2021, 5.2 million drivers have registered on this platform, with about 27.6 million registered users.
Moreover, the revenue of GOGOX from 2018 to 2021 was CNY 453 million, CNY 548 million, CNY 530 million, and CNY 660 million respectively, while gross profits were CNY 104 million, CNY 173 million, CNY 183 million, and CNY 241 million.
Meanwhile, the gross profit margin of the same period was 23.0%, 31.6%, 34.6% and 36.6% correspondingly, showing an upward trend year by year. And the order quantity of GOGOX in 2021 reached 28.4 million, with an increase in revenue by 24.6% compared with 2020.