Fast Dog Taxi (02246) fell more than 9% in the intraday period. As of press release, it fell 8.33% to HK$0.495, with a turnover of HK$2,548,500.
The Zhitong Finance App learned that Kuaidou Taxi (02246) fell more than 9% in the intraday period. As of press release, it fell 8.33% to HK$0.495, with a turnover of HK$2,548,500.
According to the news, according to data from the Hong Kong Stock Exchange, Alibaba reduced its holdings of Fast Dog Taxi by a total of 669,400 shares on the market on January 4. The average price was HK$0.5533 per share, cashing out about HK$370,000, and its shareholding volume fell from 8.04% to 7.93%. Since December 12, 2023, in less than a month, Alibaba has reduced its Kuaigou taxi shares four times, reducing its holdings by a total of about 7.5948 million shares, and has cashed out about HK$4.63 million.
According to five-year financial data disclosed in Kuaigou Taxi's 2022 annual report, the company's losses from 2018 to 2022 were 1.07 billion yuan, 180 million yuan, 660 million yuan, 870 million yuan, and 1.21 billion yuan, respectively. Plus a loss of 640 million yuan in the first half of 2023. Over the past five and a half years, Kuaigou Taxi's cumulative losses have exceeded 4.6 billion yuan. Kuaigou Taxi once stated in its prospectus that because the logistics business in the same city is still in its early stages, the company has invested heavily to drive business growth. Considering the business investment plan, it is expected that it will continue to generate losses until at least 2024.