GOGOX lands Hong Kong stock market with great potential for growth

GOGOX HOLDINGS LIMITED, a major online intra-city logistics platform in Asia, announced the details of its proposed listing on the main board of The Stock Exchange of Hong Kong Limited. The Group plans to offer a total of 31,200,000 Shares under the Global Offering (subject to the Over-allotment Option). The offer price is HK$[21.50] per Share. The Hong Kong Public Offering will commence on 14 June 2022 (Tuesday) and end at 12:00 noon on 17 June 2022 (Friday). The dealing of the Group’s shares is expected to commence on the Main Board of HKEX on 24 June 2022 (Friday) under the stock code of 2246.

The Group operates in more than 340 cities across five countries and regions in Asia, namely mainland China, Hong Kong, Singapore, Korea and India. According to Frost & Sullivan, the Group is the third largest online intra-city logistics platform in mainland China and the market leader in Hong Kong with a market share of 50.9%, each in terms of GTV in 2021. The Group owns and operates two highly-recognized, well-trusted brands: Kuaigou Dache in mainland China and GOGOX in other countries and regions in Asia. Its service offerings consist of platform services, enterprise services, and value-added services.

Despite the impact of the COVID-19 pandemic, its overseas business saw robust growth during the Track Record Period and its revenue contribution was increasing steadily. The revenue generated from the Group’s overseas business accounts for 26.5%, 35.4%, 47.1% and 48.0% of the Group’s total revenue in 2018, 2019, 2020 and 2021.

Highly scalable business model

Armed with highly-recognized brands – Kuaigou Dache in mainland China and GOGOX in overseas markets, the Group has established competitive edges in user base, operational efficiency and technologies. Operating on a technology-driven, asset-light business model, the Group has established its business and expanded market presence cost effectively with a proven track record to show. In mainland China, when the Group enters a new city, it will deploy on-the-ground sales personnel to quickly build the local user network. In overseas markets, the Group has collaborated with 48 local partners by the end of 2021, which are traditional logistics companies with established customer network, domain knowledge, and technical know-how, complementary to the Group’s flexible logistics capacity.

Owns advanced technological capabilities and proven track record in serving enterprise customers

The Group uses advanced technology and AI-driven algorithms to create elastic logistics solutions that can quickly and efficiently respond to dynamic user needs. Its advanced matching system and routing technologies help the Group optimizes its service fees, shipping fares paid by shippers, driver’s earnings and ultimately its financial performance.

GOGOX has extensive experience in providing services to enterprise customers, which differentiates it from its competitors. The Group expands its user base by providing tailored logistics solutions to meet the ever-changing demands of logistic support from enterprises in various industries. Thus, it has been able to continuously increase in its user base, enhanced the stickiness of enterprise customers and improve their satisfaction. Over four years, between 31 December 2018 and 31 December 2021, its enterprise customers had more than doubled from 16,000 to 39,000, covering SMEs and large enterprises.

Expands service network with asset-light model and broadens enterprise customer and driver base

The Group plans to further increase its share in existing markets, and to explore other potential markets in the Asia-Pacific region through strategic cooperation, investments and acquisitions. The Group also plans to continue to focus on cultivating its enterprise customer base and to increase revenue contribution from enterprise services. It will also further explore the logistics needs of enterprise customers in emerging industries, such as social e-commerce, and community group purchasing services, and provide more diversified services, including cold chain transportation, special transportation requirements and reverse logistics.

Explores different monetization opportunities and strives to become a one-stop logistics platform

The Group aims to become a one-stop logistics platform and intends to expand scope of value-added services provided to shippers, drivers and other participants in its ecosystem to accelerate flywheel effects. The Group also intends to supplement its service offerings and further grow its business ecosystem by introducing additional third-party service providers, such as automobile manufacturers and dealers and fuel station operators, allowing it to improve user retention and increase monetization channels.






Topic: Press release summary

Sectors: Transport & Logistics


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Yo! Egg Lands $5M in Preparation for Launching World’s First Plant-Based Sunny-Side-Up and Poached Eggs into US Restaurants –



Following the recent close of a US $5 million seed round, plant-based egg startup Yo! Egg is set to launch the world’s first plant-based, sunny-side-up and poached egg in restaurants across the US. Restaurants and distributors will have the first opportunity to try the innovative Yo! Egg range at the National Restaurant Association trade show in Chicago from May 21st to 24th.



Yo! Egg’s products bring a “whole egg” experience, complete with a perfect egg white and runny yolk, for consumers who love the taste and texture of eggs but who would prefer a more sustainable and cholesterol-free option. With 1 in 6 consumers eating more than half their meals plant-based, and countless diners choosing where to eat based on the dietary preferences of the people they share their meals with, Yo! Egg is a strategic addition to any restaurant’s menu.



Investors are also keen on the opportunity. The company’s oversubscribed seed round was led by food tech focused venture capital firm Stray Dog Capital and NFX, the renowned Tech investor, for whom this marks a first investment in a food tech company. Surround Ventures and Secret Chord Ventures also participated in the round. Yo! Egg is using the capital to scale production and propel its launch into the American market.



Stray Dog Capital Partner Johnny Ream said of the company, “with over 95 billion eggs consumed every year in the US, and each egg requiring 53 gallons of water to produce, we need a better solution. Yo! Egg has developed one of the most impressive plant-based products we have seen to date, and we believe both the product and scaling innovation the company is pursuing will give them the potential to drive significant growth and impact.”



“With hundreds of millions of people across the world demanding plant-alternatives for their favorite proteins, Yo! Egg’s first-of-its-kind eggs will be a hit in restaurants nationwide,” explained Gigi Levy-Weiss, General Partner at NFX. “I am confident in Eran, Yosefa, Nisim and the team they have built to transform the $200 billion egg market.”



Yo! Egg plans to transform the egg industry, sans chickens. The company sees a huge opportunity for positive change by offering a new generation of plant-based eggs that fully deliver from a sensory perspective. According to company CEO Eran Groner, “The Yo! Egg team has a unique mix of extraordinary product innovation expertise and engineering talent that we believe will help our company revolutionize the way the world produces and consumes eggs.”



Following the company’s US debut at the National Restaurant Association show in May, consumers can expect to see these prized runny yolks on menus in the Greater Los Angeles area by the end of this year. Yo! Egg will serve their groundbreaking eggs to National Restaurant Association show visitors at booth 1084 and welcome meetings with distributors and foodservice operators who want to be among the first to carry the products.



To learn more about Yo! Egg’s products, please visit www.yo-egg.com



About Yo! Egg



Yo! Egg is on a mission to become the world’s largest and most sustainable egg producer, without the use of chickens. Starting with sunny-side-up and poached eggs, the company is pioneering plant-based versions of eggs for every culinary application. The company was founded by Yosefa Ben-Cohen, an accredited vegan chef with ten years experience in developing plant based products, Nisim Ben-Cohen, a decade long experienced foodservice operator and entrepreneur and Eran Groner, a seasoned food-tech executive with more than a decade of experience in agricultural and food technologies spanning factory farming and cultured meat production. The company is based in Israel with a fast growing U.S. presence. Learn more at www.yo-egg.com.



About Stray Dog Capital – www.straydogcapital.com



Stray Dog Capital is a venture capital firm investing in innovative, early-stage companies across the food, beverage, and biotechnology sectors that are driving a healthier, humane, and more sustainable future.



About NFX – www.nfx.com



NFX is a leading seed-stage venture firm based in San Francisco, CA, and Herzlia, Israel. Founded by entrepreneurs who built 10 companies with more than $10 billion in exits across multiple industries and regions, NFX is transforming how true innovators are funded. With expertise in platforms and network effects, NFX partners with the world’s best founders to solve problems – at scale – with the power of technology.

Contact Information
David Benzaquen
US General Manager
Yo! Egg
(1) (917) 637-0650
David@yo-egg.com

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Hong Kong – Lands Department releases figures on registered lease modifications, land exchanges, private treaty grants and lot extensions in fourth quarter of 2021

Lands Department releases figures on registered lease modifications, land exchanges, private treaty grants and lot extensions in fourth quarter of 2021

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     The Lands Department (LandsD) announced today (January 14) that it registered 23 lease modifications and six land exchanges in the Land Registry during the quarter ending December 2021, of which two were modifications of a technical nature involving nil premium.



     Among these 29 land transactions, eight are located on Hong Kong Island, 12 are in Kowloon and nine are in the New Territories. The transactions exclude Small House cases.

     

     A further four lots were granted by private treaty during the period. Two were granted to the Hong Kong Housing Authority for public housing developments off Anderson Road and in Kai Tak; one was granted to the Urban Renewal Authority for residential development in To Kwa Wan; and the remaining one was granted for the development of a student hostel in Sha Tin.

     

     There were no lot extensions registered during the quarter.

     

     The above land transactions realised a total land premium of about $12,370.046 million.

     

     Transaction records of the lease modifications, land exchanges, private treaty grants and lot extensions, including those registered recently, are uploaded to the LandsD website (www.landsd.gov.hk) on a monthly basis. Details of the transactions may be obtained by searching the registered documents in the Land Registry.

Colombia’s Viva Air Lands Stronger in the United States; Bringing a Fresh Approach to Pan-American Low-Cost Travel

 www.vivaair.com/#/co/enWith the rise of low-cost travel taking off around the world, Colombia’s Viva Air recently expanded in the United States, bringing affordable travel to passengers throughout the Americas. Formerly known as Viva Colombia, in May 2021, the company rebranded as Viva Air to facilitate its transformation of the airline industry and development throughout the region, while inviting consumers to “Fly More.” Based in Medellín, Colombia, the company brings its innovative spirt and strategic vision to countries around Latin America through its commitment to affordable travel, high-quality service, extensive routes, punctuality, new aircraft and social sustainability.

As the aviation industry rebounds from COVID-19, low-cost carriers have become the champions of the airline industry, disrupting traditional legacy models with more affordable flight options for consumers. Viva Air is leading the industry’s rebound in the region due to its agility and ability to easily pivot its consumer strategy, compared to legacy carriers. Already in 2021, Viva Air has recuperated 120% compared to its pandemic numbers and grown 17% compared to 2019 due to new the opening of new domestic and international routes.

The airline also boasts some of the most reliable service in the region. In Colombia, it has been named the most punctual airline, with an average of 89% of flights taking off on time, according to OAG’s September reports, while demonstrating its commitment to reliability to all its destinations.

Latin America provides particularly fertile ground for low-cost carriers due to economic constraints, limiting people’s ability to travel by air, and the diversity of destinations in short-haul domestic and regional markets. As Viva Air continues to build on its mission of “democratizing the skies,” the Colombian airline is constantly looking to grow its footprint for Latin American regional travelers.

By positioning Medellín, Colombia as its regional hub, Viva Air has made a firm promise to connect Latin America through the Antioquian capital. Known for its social innovation, Medellín offers unique opportunities for connectivity, development, and savings for travelers, by servicing the best destinations with the best prices.

Viva Air currently offers 29 domestic routes around Colombia, 5 domestic routes around Peru and international routes to Mexico (2 destinations), and the United States (2 destinations). Since 2015, Viva Air has operated routes to Miami, Florida, and currently offers 17 weekly flights, making it one of the airlines most successful routes. In July 2021, the airline inaugurated its second flight to the United States, landing in Orlando, Florida, increasing its connections to North America.

As the company continues on its path of rapid expansion, Viva Air looks to reach approximately 50 million passengers and add an additional 15 new routes between 2022-2025, representing a further step towards consolidating its position as the best low-cost airline in the region.

Founded in 2012, Viva Air is a pioneer low-cost airline group in the region, created by Irlandia Aviation, known for championing some of the world’s top low-cost airlines like, Ryanair. Today, Viva Air applies the successful European model to Latin America, while enticing a diversity of travelers from varying economic, social, and cultural backgrounds to enrich its consumer base.

“At Viva Air, we believe that everyone has the same opportunity to fly high and fly more. For us, that means being proud of the company’s diversity of employees, customers, and destinations we visit,” explained Viva Air president and CEO of the Group, Félix Antelo. “We’re on a mission to consolidate our position within the region’s aviation market by democratizing the skies and making travel affordable for everyone. Based on our success of the past year, we look forward to what the future will bring to us, and how we will continue improving our offering for regional passengers.”

Viva Air’s innovative approach to running an airline demonstrates the company’s commitment to transforming air travel by democratizing the skies and bringing affordable travel to more consumers in Latin America and beyond. Viva Air’s low-cost model, 89% punctuality in its flights and wide network of routes position the company as the most efficient and effective option when flying.

About Viva Air

Viva Air is the leading low-cost airline in Latin America. It currently operates 34 domestic routes in Colombia and Peru, and seven international routes to the United States, Mexico and Peru. In its nine-year history, it has transported more than 28 million passengers. In 2021, it named Medellín as its official hub for domestic and international operations. Recognized for its proven biosecurity protocols, punctuality and having one of the most modern fleets in Latin America, with 21 Airbus 320 aircrafts, Viva Air continues its path of expansion by bringing air equity to the regions it touches with its promise to always offer low fares.

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Viva Air

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