GOGOX reported interim revenue of RMB292.63 million for the six months ended 30 June 2026, down 10.9% from RMB328.29 million a year earlier, as softer activity in Mainland China outweighed steady performance in Hong Kong and overseas markets.

Gross profit declined 6.3% to RMB87.41 million, yet the margin improved to 29.9% (1H25: 28.4%) on lower subcontracting fees and tighter spending. Cost of revenue fell 12.7% to RMB205.21 million, while selling and marketing expenses dropped 10.2% to RMB37.69 million, and general & administrative costs eased 10.6% to RMB66.63 million. R&D outlays contracted sharply to RMB8.89 million, an 84.2% reduction after completion of a major logistics project last year.

The streamlined cost base helped shrink operating loss by 37.7% to RMB71.70 million and cut net loss to RMB71.21 million (1H25: RMB113.57 million). On a non-IFRS basis, adjusted net loss narrowed 68.0% to RMB23.86 million, while adjusted EBITDA improved 80.5% to negative RMB12.43 million.

Segment performance diverged. Enterprise Services remained the main revenue contributor at RMB203.62 million (69.6% of total) but slipped 13.0% year-on-year amid reduced shipping volumes. Platform Services generated RMB46.02 million, down 27.0% as Mainland competition intensified. Value-Added Services surged 36.9% to RMB42.98 million, lifting its revenue share to 14.7%.

Geographically, Hong Kong and overseas operations delivered RMB248.61 million, representing 85.0% of group turnover and easing just 4.3%. Mainland China revenue fell 35.7% to RMB44.02 million. The platform counted 35.8 million registered users and 7.4 million drivers, processing 4.4 million orders with gross transaction value of RMB611.60 million during the period.

Impairment of goodwill linked to the Mainland CGU reached RMB46.87 million, reflecting lower growth assumptions. This non-cash charge was the largest single expense item behind the statutory loss.

The balance sheet remained debt-free. Cash and cash equivalents stood at RMB67.94 million at end-June versus RMB91.79 million at year-end 2025, after negative operating cash flow of RMB17.18 million and minimal capital expenditure of RMB0.20 million. Total equity declined to RMB70.78 million.

No interim dividend was declared. Management reiterated plans to deepen Asia-Pacific penetration, expand enterprise clientele and scale value-added offerings, leveraging artificial intelligence and machine learning to drive efficiency.