Cover reporter Fu Wenchao
On May 21, Manbang Group, a digital freight platform, released its financial report for the first quarter of 2024. The financial report shows that Manbang recorded an operating revenue of 2.27 billion yuan (RMB, the same below) in the first quarter, a year-on-year increase of 33.3%, an operating profit of 490 million yuan under non US accounting standards, a year-on-year increase of 78.2%, and a net profit of 760 million yuan under non US accounting standards, a year-on-year increase of 46.9%, maintaining a strong growth momentum.
In terms of user data, the data of dual end users of cargo owners and drivers in the first quarter of Manbang was outstanding. In the first quarter, Manbang's average monthly activity of shippers reached 2.14 million, a year-on-year increase of 22.3%, which exceeded the growth rate of the past two quarters; In the past 12 months, the number of active drivers who performed contracts continued to grow to 3.91 million, a record high, and the retention rate of drivers who responded to orders in the next month rose to 90%, about 5 percentage points higher than the historical level in the same period.
The management of Manbang introduced that the further expansion of the user scale and the improvement of the matching efficiency brought about the continuous rapid growth of quarterly performance orders. In the first quarter, the number of Manchuria's performance orders increased by 29.6% year on year to 39.3 million, again significantly exceeding the single digit year-on-year growth rate of the road freight market.
Zhang Hui, Chairman of Manbang Group, said in the financial report conference call that with the core advantage of "saving money" and continuously optimized product experience, the network effect of both ends of the Manbang platform has been continuously enhanced, and the transaction efficiency has been steadily improved, further driving the growth flywheel of the Manbang platform.
