2Q18 results in line with GMV doubled. China Youzan announced its first consolidated financial results since the 51% acquisition of Youzan Group completion on 18th Apr 2018.
2Q18 sales was up 344% YoY and 263% QoQ to HK$215mn, of which Youzan Group contributed 70% of sales in 2Q18, with HK$105mn from its E-commerce Cloud business and HK$46mn from the synergies of third party payment business. 2Q18 GPM was lifted by 41.3ppts YoY/40.6ppts QoQ to 54.1%, thanks to the consolidation of Youzan cloud business which recorded 86% GPM and contributed 48.8% sales in 2Q18.