On August 21st, the digital freight platform YMM. US (hereinafter referred to as "YMM. US") released its Q2 2024 performance report before the US stock market. During the reporting period, Manbang achieved a revenue of 2.76 billion yuan (RMB, the same below), a year-on-year increase of 34.1%. The adjusted operating profit under non US accounting standards reached 700 million yuan, a year-on-year increase of 55.1%; The adjusted net profit under non US accounting standards reached 970 million yuan, a year-on-year increase of 34.3%, both reaching historical highs.
Zhang Hui, Chairman of Manbang Group, stated that looking back at the first half of 2024, in the face of a complex and ever-changing macro environment, Manbang will continue to firmly promote the digitization and intelligence of the logistics industry, empowering enterprises to become more competitive in logistics. With continuous optimization of new customer acquisition operations, the monthly activity of shippers has once again broken through the peak. Through the supply side combination of "grabbing goods in seconds+driver level system+driver behavior score", high-quality transportation capacity continues to increase. Looking ahead to the second half of the year, Manbang is confident in leading the logistics industry to reduce costs and increase efficiency, creating greater value for users and society.
Since the beginning of this year, Manbang has continued to increase investment in digital and intelligent infrastructure, promoting logistics cost reduction and efficiency improvement through the integration of data and reality. According to the second quarter financial report of Manbang, the efficiency of digital intelligent logistics replacing traditional offline logistics has been continuously strengthened. During the reporting period, the platform's fulfillment orders reached 49.1 million, setting a new historical high. Looking at the first half of the year, the growth rate of the group's fulfilled orders exceeded that of the national road freight volume, with a year-on-year increase of 25%.
Behind the impressive performance report of platform fulfillment orders is the bilateral scale effect brought about by the growth of shipper and driver user data. In the second quarter, key indicators such as monthly active shippers, active fulfillment drivers, and fulfillment rates all reached historic highs.
In response to this, Zhang Hui summarized during the pre market investor conference call that Manbang is committed to becoming a one-stop shipping gateway for millions of small and medium-sized shippers, and continues to focus on high-quality customer acquisition through multiple channels. The daily average number of first-time users for Manbang reached a new high in the second quarter.
In the second quarter, the asset management departments of internationally renowned financial institutions such as JPMorgan Chase, Morgan Stanley, Nomura Securities, and Goldman Sachs all significantly increased their holdings. In addition, top long-term funds Fidelity International and Jinglin Asset Management also continued to increase their holdings in this quarter. Based on the closing price on June 28th, the two institutions' holdings of Man Bang exceeded $350 million. The top European foreign bank, Norwegian Bank, and the well-known Swiss asset management company Pictet have also re established full positions this quarter.