News Summary: Lalatech achieves double-digit growth, with overseas business maintaining rapid growth

This logistics service provider stated that it will restart its Hong Kong IPO, planning to further expand into the domestic freight market in China while accelerating its entry into the global logistics market. Richard Yu Logistics giant Lalatech Holdings Limited (Lalatech) submitted its latest listing application on the 27th, showing that revenue and key operational indicators achieved double-digit growth in the first half of the year, with overseas business maintaining rapid growth, further diversifying the overall revenue structure and continuing a steady upward trend. Lalatech operates two major logistics brands: Lalamove for the Hong Kong and overseas markets, and HuoLaLa for the mainland China market. The company adopts a platform model, connecting merchants and drivers online by integrating a vast amount of carrier resources to meet immediate or scheduled freight needs. Its integrated "closed-loop" platform manages the entire transaction process from order payment to matching, tracking, and settlement. This model has made it the largest logistics provider in the world by Gross Transaction Value (GTV), dominating this segment with a 53.3% market share last year. The company's latest prospectus shows that its GTV in the first half of the year grew by 17.7% year-on-year, increasing from approximately $5.07 billion in the same period of 2024 to about $5.97 billion. During this period, the global fulfillment order volume reached 455 million, a year-on-year increase of 34.3% from 339 million orders in the same period last year. Lalatech also maintained strong revenue growth in the first half of the year, climbing 31.8% year-on-year to $934.6 million, with adjusted profits reaching $271.6 million. Its overseas revenue grew by 34.3% year-on-year to $88.9 million (compared to $66.2 million in the same period last year), increasing its share of total revenue from 9.3% to 9.5%. As of the end of June, the average number of monthly active merchants reached 19.7 million, and the average number of monthly active drivers was 2 million. Lalamove was founded in Hong Kong in 2013 and entered the Southeast Asian and mainland China markets the following year. It has since continued to expand into other overseas markets, including Latin America, Europe, the Middle East, and Africa (EMEA). As of the end of June, the company's business covers over 400 cities in 14 major markets worldwide, successfully replicating its business model in multiple locations based on industry experience. The company stated that Southeast Asia and Latin America remain core areas for future investment and market share enhancement, while also planning to enter other markets such as the Middle East this year. In terms of GTV, the scale of the overseas urban road freight market in 2024 is approximately three times that of the Chinese market. According to the prospectus, the combined GTV of the Southeast Asian and Latin American markets is expected to reach $124.3 billion in 2024, with an average annual growth rate of 4.1%, projected to reach $151.7 billion by 2029. Lalatech stated that as a pioneer in the digitalization of the road freight industry, leveraging its technological infrastructure advantages, the company can expand into the intercity freight market while deeply cultivating its core urban business. As of June this year, over 70% of merchants using intercity freight services for the first time are existing customers using its urban freight services