Fri, 15 May 2020 16:03:00 +0800

Shouqi Limousine & Chauffeur, the second largest ride-hailing platform in China, has made profits in multiple cities nationwide

BEIJING, May 15, 2020 /PRNewswire/ -- On May 6, 2020, Wei Dong, CEO of Shouqi Limousine & Chauffeur, issued an internal letter to all employees, announcing that Shouqi Limousine & Chauffeur achieved an overall positive gross profit nationwide in April 2020 after first turning a profit in Shanghai and Shenzhen in July 2019, and made profits in multiple cities. The company is expected to achieve a positive EBITA in the fourth quarter of 2020. 

Shouqi Limousine & Chauffeur, an online ride-hailing platform in China, announced it achieved an overall positive gross profit, and anticipated its EBITA in the fourth quarter to be positive
Shouqi Limousine & Chauffeur, an online ride-hailing platform in China, announced it achieved an overall positive gross profit, and anticipated its EBITA in the fourth quarter to be positive

As a state-controlled online ride-hailing platform, Shouqi Limousine & Chauffeur ranks second in China's chauffeur market, with a revenue of CNY 6.5 billion in 2019. According to Wei Dong, CEO of Shouqi Limousine & Chauffeur, the company has been principally engaged in corporate travel, business charter and employee overtime car services since its rollout in 2015. After 2018, it cooperated actively with many life service platforms including Gaode Map, Baidu Map and Meituan, receiving bulk orders for daily car service and achieving continuous growth in its business, with an average annual growth rate of 145% over the past four years.

"Since 2018, Shouqi Limousine & Chauffeur has introduced the league-cooperation selling model to expand high-quality transport capacity. The total number of Shouqi Limousine & Chauffeur's vehicles exceeded 500,000 in 2018 and rose to over 800,000 at the end of 2019," said Wei Dong. "In April 2019, Shouqi Limousine & Chauffeur carried out partnership reform for the drivers' salary system, and set up quality teams for hierarchical operation, establishing a good reputation. Shouqi Limousine & Chauffeur has made breakthroughs in market customization, and delved into vertical segmentation, seamlessly connecting the life, work, education, healthcare, shopping and traveling markets. Moreover, relying on its high-standard and high-quality services, it has dominated various major conference ride-hailing service markets and enterprise ride-hailing markets. Shouqi Limousine & Chauffeur has taken the lead in developing service standards for six kinds of special passengers, i.e. pregnant women, children, the disabled, persons with poor vision or hearing, persons carrying pets, and persons drinking alcohol or being drunken. Furthermore, the company has launched segmented products such as baby-mom cars and student cars, leading the entire industry back to the pursuit for quality service."

The latest data from Trustdata shows that Shouqi Limousine & Chauffeur still remained at the second place in the industry in terms of MAU in March 2020, and with continuous resumption of work and production, the proportion of users in first-tier cities increased significantly, with a year-on-year growth of 83.4% in March.

Wei Dong said, "With the advent of the 5G era, Shouqi Limousine & Chauffeur will further realize the exchange and sharing of intelligent information among vehicles, people, roads and backstage based on its existing intelligent travel control system, in order to create a mobile travel life with vehicles as the carrier."

According to the public data, the shareholders of Shouqi Limousine & Chauffeur include Beijing Tourism Group (BTG), Beijing Shouqi Group, Minsheng Trust, Baidu, NIO Capital, and so forth. 

Quang Cao

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