According to eBrun, the 2017 annual report from Kuajingtong recorded the current business revenue of RMB 14 billion (US$2.2 billion), showing an increase of 63.99% as compared to previous year.
Kuajingtong, the first cross-border e-commerce enterprises granted by Chinese government, aims at becoming the official and standard cross-border e-commerce platform. Kuajingtong, supported by Shanghai Customs, Shanghai Entry-Exit Inspection and Quarantine Bureau and State Administration of Foreign Exchange, has the advantage in product authentic guarantee, competitive pricing, transparent taxes, convenient logistics and customer service.
Net profit is RMB 970 million (US$ 153 million) , an 81.04% increase from previous year. The net profit attributable to the shareholders is RMB 750 million (US$ 118 million), an increase of 90.73% from last year.
Besides, the total assets stated in the annual report stands at RMB 8.6 billion (US$ 1.36 billion), reflecting an increase of 21.08% from the start of the year.
The owners’ equity attributable to shareholders at the end of the reporting period is RMB 4.9 billion (US$ 0.77 billion), with an increase of 16.82% from the start of the period. Share capital stands at RMB 1.4 billion (US$ 0.22 billion), with an increase of 0.42%, net assets per share is RMB 3.42 (US$ 0.54), with an increase of 16.33%.
Kuajingtong was initially established as BaiYuan Trousers in 1995, mainly focused on apparel retail business previously.
As the company steeped in the implementation of e-commerce retail and continuous improvement, the company accelerated its growth in cross-border e-commerce ecosystem.