Kuaigou Dache announced on October 16 that it plans to sell its wholly owned subsidiary for RMB 1, effectively selling off its entire mainland China business. The company also plans to change its name to “GOGO Technology.”
According to the disclosed figures, the mainland China business recorded a loss of RMB 49.259 million in the first half of this year, through the end of June, and had net liabilities of RMB 2.476 million. It’s a clean and decisive move: offloading the loss-making business for just RMB 1 and exiting the market, with no further operations in mainland China under the “Kuaigou Dache” brand.$Q
According to the disclosed figures, the mainland China business recorded a loss of RMB 49.259 million in the first half of this year, through the end of June, and had net liabilities of RMB 2.476 million. It’s a clean and decisive move: offloading the loss-making business for just RMB 1 and exiting the market, with no further operations in mainland China under the “Kuaigou Dache” brand.$Q