you, I'll Mr. the everyone. overall of in Zhang, go through Thank detail. and performance company more hello, our
operational well in as we delivered the COVID-related financial of continued amid quarter, challenges before, second solid stemming registration. results from new suspension stated Zhang the Mr. as and As restrictions user
decreased factories able pandemic, GTV due were demands. some significantly other to to of the in Shanghai's regions in Although shipping handle Shanghai
adversely network lockdown-related XX.X% declined rate to by our operations However, impacted quarter. shortages of truck certain areas and disrupted fulfillment average in China, the in
to started rate Now of the to we the apps our fulfillment fulfillment resumed year that and user July, in half see registration, overall rate new in core improve. recovery further second we expect the signs have of have
freight in increased matching last accuracy. in the and first year while was same consistently approximately quarter, again the platform’s algo-driven matching order median efficiency June simultaneously improvement resulting minutes, matching our the period the addition, In in demonstrating XX time in shorter continued than
by was five launched, shipping searching before spend average an truckers minutes used of our recommended function example, For themselves. orders for order to
relying The minutes have second saved our the Now, improved they accurate recommended on of in for shipments and to need time push identify efficiency. iterative and greatly truckers upgrading quarter algo transactions. orders, complete three and appropriate matching just
of truckers second-tier, or member of absence the first outstanding registration increased absence new XXXX of our in new a growth in of second our recognition group by the member came large registrations, conversion, number quarter the users. core our contribution platform. The of user the includes of of Such or in growth our mainly again quarter-over-quarter. remained quarter, over non-member direct MAU value from our of to MAUs, exceeded entry-level the the XXX shipper stable member increased and for to Moving the our In on largely rate year-over-year the shippers. Furthermore, MAUs, that highlights and of member our shippers’ due XX% which shippers to time. shippers, direct retention second
Now of that membership has both resumed, our in expect registration the we user non-member continued XXX growth size cohorts. and new
monthly of successfully truckers Speaking nearly to have which, growth registered in the shippers we XXX,XXX about are excited of since newly end now, new XXX,XXX Up see of monthly to second number responding orders. and the quarter. rapid we users to new active active converted the
and our and user of multiple series and platform Following through a complete operation we into the new recruitment, user comprehensively and including online recommendation, through increasing transaction. user channels, process, new users promoting launched refined of precise their users the helping first of cooperation offline exposure new users acquisition resumption successfully initiatives registered targeting conversion
potential We have members. and also developed shippers marketing direct paying strategies for customized
remain end, transaction stickiness the the year, we and valuable so continuous on on level volume and existing on improving user of half our scale second engagement the growth forward more Looking of achieve as of new products and platform. and and to optimizing users, focused services, experience providing both user to
now our Turning business to details.
the to by second XXX.X% higher year-over-year. continued service increasing perform in to revenues with million commission by RMBXXX.X year-over-year transaction driven was strongly, penetration primarily quarter. online The increase Our
the commissioned to the despite adjustment fulfillment freight a but the and revenues overall to penetration strategy remained over truckers the in dynamic commission the than our growth. accounted truckers activity above recurrence model’s additional volume levels for Commission pandemic’s impact. and and retention in first in chose of instead approach, next-month cities, regions this of monetization both our pandemic’s price. time commission contribution not in Furthermore, reached of in city in quarter, is Zhejiang to platform retention more based Among of them, on cities XX%, we XX% batch commissioned inventive and commissioned provinces next-month commission Given second our and XX% is quarter, implemented model the of GTV and our Thanks Jiangsu second XX%. expand our user our revenue continued XXX the commissioned Shanghai stable. to
user for a end, we our upgrade our our much wider functions second value quarter, refine help faster In To continuously our and better support of and process platform deliver future, is also efficiency goods conveniently of priority. experience take range usage an product more created even commission the to hinge the our In us, optimization profits. users. will centricity truckers to the of to that model remains commission more product to established nature also improving and the user and orders the to on shippers and department, For obtain matching unit comprehensive success business users. and of platform’s experience penetration, rate focusing on continue bring a how top each the while
we shipper truckers’ now this we enhancement, expect decline. experience investment beginning rate at launched growing continue of the the experience seven user our in cities. system to improve to Furthermore, to Given and user our provinces complaint rating covers year
truckers this and side as changes broadly positive well. to Our the spurred have shippers’ it commended has system,
For and comparably visits fulfillment rate. tend frequency page example, ratings shippers with to of better higher enjoy
next-month help platform most retention to shippers credible confident XX% in We both to second rating shippers improvements approximately orders truckers system high truckers from efficiently. on XX-month our eco-system, shipping and more the platform retention our are that our shipper of the will find responded at who remained of Benefiting these quarter.
functions our to in operation low about and and shippers shippers fairness various reasonable team to bidding truckers for each of second and overall improve response and freight complaints more the instituted stage the truckers’ the make reminders pricing. encourage in to feedback process Finally, shipment the bids in health quarter, at rates,
on bids are example, For blocked in ultra-low early with unreasonable, the shipments process.
truckers same and low-priced bidding help shippers rate We time, shipment the about or give to inform price measures also priced unreasonably these At feedback cultivate on rate, them before satisfaction. pricing. place communication trucker Together, increase to effectively to our we increases freight dedicated overall have and markup and channel shipments. issue habits rolled to fairer allowing platform’s appropriate request guidance direct low-priced a fulfillment goods on bids out for pricing improved
our In across on and in we platform our discuss focusing have China’s entire digital and strive to development. worked sustainable our our of credit recent report I fulfilling employees long-term to operation. which showcased a the and we innovation, development technological in positively ESG which XXXX the range and system and scientific social In our public report, to social fulfilling ESG creating such ultimately we welfare the early core we industry. unveiled strategy, believe our is we achievements to and communities fuel XXXX green our live, meeting users, our responsibilities explorations our it, that July, commitment success. impact to the will years, transportation We issued in communities society, advance goals Before to wide within at we serve. inception, initiatives our environment responsibility industry, ongoing first Since responsibility corporate would performance, stakeholder like financial of and highlight our moving on to construction, our
provide I second Now, overview results. like financial our of quarter to a would brief
last The the growth second freight penetration. were XX.X% quarter, increase rapid an second COVID service in attributable attributable XX.X% Our year-over-year, membership freight to RMBX.X from Revenues RMBXXX.X driven Net total freight from net totaled and primarily a of quarter expenses government operations with million and marketing penetration, million million, same and million, RMBXXX.X from in revenues an were from the in in primarily a surcharges benefits user Revenues the increase were The quarter due year-over-year, million an second XX.X% quarter same the were expenses. was the from income fees the from adjusted attributable well matching advertising compared by the last headcount. decrease million matching the revenues Revenues to RMBXXX.X These from same RMBXXX.X the Loss billion our period million, value-added second transaction in and representing XX.X% the increase RMBXXX.X year. same last in sales user the an primarily salary non-GAAP increase brokerage improved of significant of as million other expenses in The year. second tax models, from revenues related second expenses compared with RMBXXX.X commissions. marketing primarily second revenues tax-related from of due in in service an in models, to GTV and RMBXXX.X year, higher in the total in compensation attributable income R&D driven net involving the costs increase quarter an billion quarter expenses offset to increase second second including with fees compared with by in RMBXXX.X second quarter G&A RMBXXX.X the in representing increase RMBX.X in to benefits primarily the the million decrease was to the an second million, were Revenues RMBXXX.X ramp-up in decrease same million increase higher authorities. an in commissions costs, commissioned revenues an in quarter period last share-based billion quarter period net commissions same to quarter million period, was were XXX.X% The was in in to members. of freight of an was the R&D year-over-year, of RMBXXX.X during an tax due primarily transaction RMBXX.X result freight year. was by RMBX,XXX increase decrease growth increase RMBXXX.X XXXX. VAT, of year. service by our representing and in services, an registration quarter, by of listing volume operating Under our lower last an paying credit million million year-over-year, by transaction and increased increase year. listing measures, XXX.X% marketing to as primarily service year-over-year, was a XX.X% from million period same of up compared headcount. primarily suspension were compared from partially from RMBX.X increase transaction million, period in brokerage expenses as in in Sales driven of year. attributable last with online amounted expenses and Cost solutions. an billion, compared driven Revenues quarter offset primarily services of due RMBXX.X and activities the year-over-year, RMBXXX.X freight primarily last loss brokerage GTV in in services. refunds outbreaks. service. the freight primarily in second million from was million, from increase representing continued RMBX due the services increase salary the in second were the of to XX.X% RMBXX.X period in partially from RMBXXX.X increase in same in with of refunds in to brokerage period tax increase quarter period transaction
adjusted of the same of Our diluted adjusted RMBX.XX net Non-GAAP ADS RMBX.XX quarter loss same and second of income from year. per RMBX.XX in XXXX. basic period were basic income net per diluted ADS in the in the second quarter were was RMBXXX.X in non-GAAP and of quarter and period compared Basic RMBXX.X in same income last per million, the an adjusted the with second ADS net XXX.X% in net with loss the net diluted and compared increase year. RMBX.XX ADS basic last period diluted million per
and last of compared and billion the investments with restricted cash had cash XX, RMBXX.X in this cash, billion equivalents, year. RMBXX.X of total short-term company year, of as As December June
of RMBXXX.X the XXXX, cash in activities were net For million. used second operating quarter
market the the change participants, synergies further cannot Looking The at scope which revenues including be road and the and growth and our date our network, expect uncertainties, to restrictive take, are shippers, year-over-year duration RMBX.XX ecosystem approximately platform’s a reasonable our spur RMBX.XX other be with outbreaks impact on government views nationwide of all XX.X% associated accuracy we of COVID of with efficiency the to and outbreaks, are may substantial authorities logistics further third the the preliminary on growth for XX.X%. outlook subject of and current company’s predicted and that the the as geographic the additional quarter XXXX, hereof. truckers our the of reflect forecasts By unleashing strength representing momentum the billion of operational units. of business measures our billion, conditions. to the business across and continue business These between of total and we to
offering for engage better growing existing remain on user new we and retain quality products and ensuring forward, shippers to base users help focused services while Going growth. our
road industry forward of ahead. all reinforce FTA’s our prospects leading Q&A. to recovers, We please transportation like to promising on bring our call would now the Operator, amplify look and to growth to even we As capitalizing we the the concludes more open stakeholders. That position remarks. prepared value go to
