[Yibang power news] on August 17, shopee’s parent company Donghai group announced the results of the second quarter of 2021. The data show that in Q2 2021, Donghai group’s GAAP revenue was about US $2.3 billion, a year-on-year increase of 158.6%; The gross profit of Donghai group was USD 930 million, with a year-on-year increase of 363.5%; Adjusted EBITDA was approximately $24.1 million, with a net loss of $433.7 million.
It is reported that the revenue sources of Donghai group mainly include game entertainment business Garena, e-commerce platform business shopee and digital financial services business seamoney.
Focus on shopee, the e-commerce platform business of Donghai group. In the second quarter, the GAAP revenue of shopee platform was about US $1.2 billion, a year-on-year increase of 160.7%. Although shopee’s revenue has maintained rapid growth, its growth rate has been significantly lower than 250.4% in Q1. According to the financial report, the growth of shopee platform GAAP revenue is mainly driven by the scale of e-commerce market and the growth of each revenue item, including transaction commission, value-added services and advertising business. Shopee will continue to meet the needs of users by adding new functions.
In 2021, the total number of shopee orders reached 1.4 billion in Q2, a year-on-year increase of 127.4%, an increase of about 300 million compared with Q1 orders, a month-on-month increase of 27.3%. The growth of orders also contributed to the shopee platform Gmv reaching US $15 billion, a year-on-year increase of 88% and a month on month increase of 16%.
In the second quarter, shopee’s adjusted EBITDA in Malaysia was positive, making Malaysia the second profitable regional market for shopee after Taiwan.
On the mobile terminal, shopee application has a good performance.
According to app Annie, shopee is the most downloaded shopping app on Google play in the second quarter of 2021. In the global shopping App Store (Google play & app store), shopee ranks second in total downloads and third in user usage time.
According to app Annie, in Southeast Asia and Indonesia, shopee’s largest market, shopee ranked first in the ranking of average monthly active users and total user use time of shopping applications in the second quarter of 2021.
Forrest Li, CEO of Donghai group, said in a conference call that shopee recently launched shopee mall brand membership program in Southeast Asia. The program allows brands to introduce their own loyalty programs into shopee to promote more conversions and repeat purchases on the platform.
Forrest Li also mentioned in the conference call: “we are pleased to note that shopee has attracted more and more attention in Brazil. According to app Annie, shopee ranks first among shopping apps in Brazil in terms of total downloads and total user use time, and the average number of monthly active users ranks second. ” It is reported that shopee officially entered the Brazilian market at the end of 2019.
In the second quarter of 2021, the total payment of seamoney mobile wallet service exceeded US $4.1 billion, an increase of nearly 150% compared with the same period last year. In addition, seamoney’s quarterly payment users have reached 32.7 million.
In Q2 of 2021, the total revenue cost of Donghai group increased from US $681.2 million in the second quarter of 2020 to US $1.3 billion in the second quarter of 2021, an increase of 98.1%. Among them, the total revenue cost of e-commerce and other service departments increased from US $388.3 million in the second quarter of 2020 to US $816.7 million in the second quarter of 2021, a year-on-year increase of 110.3%.
According to the financial report, the increase in cost is mainly due to the increase in the scale of shopee e-commerce market, which has increased the cost of logistics and other value-added services provided to users.
Nevertheless, Donghai group said that based on the performance in the second quarter of 2021, Donghai group raised its revenue forecast for the whole year of 2021, in which the GAAP revenue of shopee platform was about $4.7-4.9 billion, compared with $4.5-4.7 billion previously.
Post time: Aug-24-2021