Freight platform Manbang's revenue in Q2 2024 was 2.76 billion yuan, a year-on-year increase of 34.1%, and the number of fulfillment orders hit a record high

According to news from this website on August 22, the digital freight platform Manbang Group today released its second quarter performance report for 2024. The financial report shows that Manbang recorded operating income of 2.76 billion yuan in the second quarter, a year-on-year increase of 34.1%; adjusted net profit under non-US accounting standards reached 970 million yuan, a year-on-year increase of 34.3%.

During the reporting period, the number of fulfillment orders on the platform reached 49.1 million, a record high. In a conference call with investors, Zhang Hui, chairman and CEO of Manbang Group, said that the volume of performance orders in the first half of the year increased by 25% year-on-year, exceeding the growth rate of national road freight volume, reflecting the continuous development of digital and intelligent logistics models. Replace traditional offline familiar vehicles and planned logistics.
The reason for the record high single volume is the bilateral network effect brought about by the growth of cargo owners and driver users. During the reporting period, the average monthly active cargo owners of Manbang shipped were 2.65 million, an increase of 32.8% compared with the same period last year. According to the management of Manbang, since the second quarter, the group has continued to increase its investment in acquiring customers for cargo owners, discovering and converting high-quality new cargo owners through multiple customer acquisition channels, and focusing on improving the contract fulfillment experience of new users. It is expected that the scale of cargo owners will continue to increase in the future.
On the other hand, drivers’ dependence on the platform is also gradually increasing. As of the second quarter, Manbang’s number of active drivers performing contracts in the past 12 months reached 3.98 million, an increase from the previous quarter. In the future, Manbang hopes to continue to explore the driver stratification mechanism on this basis to promote the management, control, traction and matching efficiency of high-quality transportation supply.
This site learned from the financial report that in the first half of 2024, Manbang’s new energy capacity orders accounted for nearly 20%.

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