New Stock News: Lala Technology Files for Listing on the Hong Kong Stock Exchange as the Logistics Trading Platform with the Highest Average Monthly Active Merchants Worldwide by 2025.

According to the disclosure by the Hong Kong Stock Exchange on April 30, Lalamove Technology Holdings Limited (referred to as "Lalamove") has submitted its listing application to the Main Board of the Hong Kong Stock Exchange, with Goldman Sachs, Bank of America Merrill Lynch, and J.P. Morgan as joint sponsors. According to the prospectus, Lalamove Technology is a leading technology-enabled, data-driven logistics trading platform with operations worldwide. Since its establishment, Lalamove Technology has used "Lalamove" as its brand name, striving to make it synonymous with "smart logistics." According to Frost & Sullivan, Lalamove Technology is: (i) the largest logistics trading platform in terms of Global Trading Value (GTV) of on-demand logistics transactions by 2025, with a market share of 53.1%; (ii) the leading same-city logistics trading platform in terms of GTV by 2025; (iii) the logistics trading platform with the highest number of completed orders globally by 2025; and (iv) the logistics trading platform with the highest average monthly active merchants globally by 2025. In 2024, the completed orders facilitated by Lalamove Technology platform exceeded 779 million transactions, with a global freight GTV of $10.273 billion, and an average of about 16.7 million monthly active merchants and 1.7 million monthly active drivers. By 2025, the completed orders facilitated by Lalamove Technology platform exceeded 1.027 billion transactions, with a global freight GTV of $12.355 billion, and an average of about 21.3 million monthly active merchants and 2.1 million monthly active drivers. Lalamove Technology was founded in Hong Kong in 2013 and expanded into mainland China and Southeast Asia in 2014. The company has also established group headquarters in Chongqing and Shenzhen to strengthen its business layout in mainland China. According to Frost & Sullivan, by 2025, Lalamove Technology has a market share of 61.0% in mainland China in terms of GTV. Lalamove Technology's operations expanded to other cities in mainland China and Southeast Asia since 2014, and expanded to overseas markets such as Latin America. As of December 31, 2025, Lalamove Technology's business covers more than 400 cities in 15 major markets globally, including mainland China, Hong Kong, Thailand, the Philippines, Singapore, Indonesia, Vietnam, Malaysia, Mexico, Brazil, Bangladesh, Japan, Turkey, the United Arab Emirates, and Germany. In 2025, revenue from overseas markets accounted for 9.2% of the total revenue. Since its establishment, Lalamove Technology's operational and financial indicators have achieved significant growth. The company's global GTV increased from $9.4143 billion in 2023 to $13.3211 billion in 2025, with a compound annual growth rate of 19.0%. Lalamove Technology's global completed orders increased significantly from 588 million transactions in 2023 to 1.027 billion transactions in 2025, with a compound annual growth rate of 32.1%. In terms of business model, Lalamove Technology connects and serves merchants and drivers through a platform model. The company's platform enables a closed-loop transaction process from online ordering to smart order matching, automatic dispatching, and after-sales service. Prices are mainly determined by merchants and drivers in advance, and are fully transparent to both parties. Due to its asset-light business model, Lalamove Technology does not own vehicles used by drivers to provide digital freight services. Financially, Lalamove Technology recorded revenues of approximately $1.334 billion in 2023, $1.593 billion in 2024, and $2.139 billion in 2025, with annual profits of approximately $973 million, $434 million, and $447 million respectively during the same period, and gross profit margins of 61.2%, 57.8%, and 50.5% respectively.