The company (ticker: QD) has reported a substantial decrease in its first-quarter revenue for 2025, reaching RMB 25.79 million compared to RMB 55.85 million in the same period last year. This decline is largely attributed to heightened competition within its last-mile delivery sector, which saw revenues slip to approximately RMB 23.8 million, a significant drop from RMB 53.8 million previously.
Amid these challenging market conditions, QD is considering the possibility of phasing out its last-mile delivery operations. Despite these setbacks, the company remains committed to advancing its strategic business transformation. Additionally, QD intends to focus on careful cash management strategies to ensure the stability of its financial standing.
