Boqii Holding Limited (BQ) experienced an increase of 5.26% in aftermarket. However, the last trading session closed at $1.14 with a decrease of 5.79%.
Fiscal 2022 Second Quarter Results – What’s up?
BQ announced fiscal 2022 second-quarter results on 30th November 2021. The company reported total revenues of RMB282.1 million, 23.1 percent more than that of RMB229.2 million in the fiscal year 2021’s first quarter. Moreover, the net loss came out to be RMB44.5 million, compared to a net loss of RMB27.5 million. Furthermore, the adjusted net loss totaled RMB40.9 million as compared to RMB35.8 million in the previous quarter. Last but not least, the active purchasers totaled 1.6 million, 23.5 percent more than RMB1.3 million in the fiscal year 2021’s first quarter.
This quarter, the company had a 23.1 percent increase in sales over the previous quarter. The vertical platform’s strength and distinctive value propositions to other stakeholders in the industry chain were once again demonstrated by continued growth momentum from online marketing, information services, and other income.
Moreover, the higher gross margin highlighted the capacity to generate high-quality topline growth. Thinking forwards, BQ will continue to focus on providing a seamless encounter and improved efficiency to both the increasing client base and industry partners. Last but not least, BQ is looking forward to bolstering the core competencies to further capitalize on the enormous prospects in the pet sector.
Strategic Partnership with Leading Pet Hospital – What’s going on?
BQ announced on 30th November 2021 that they have signed a strategic agreement with Evetsoft Pet Hospital Management Software. BQ and Evetsoft will collaborate to build an online procurement platform designed to help pet hospitals and clinics streamline their purchasing processes. By offering consistent and traceable supply at lower rates, we hope to support independent pet clinics and small pet hospital chains across the country.
Furthermore, the domestic pet medical industry is predicted to develop at a double-digit rate in the future years as pet ownership rises in China. Only approximately 1,800 of China’s 15,000 pet hospitals and clinics have a supply chain framework that allows for unified buying, according to industry experts. Lastly, in the multi-layers of distribution networks, the remaining 88 percent must cope with difficulties such as unreliable supply and restricted price bargaining powers.
Pet parents in China are expecting greater medical treatment as they move their attention away from just nutritional considerations and toward whole pet care. Moreover, BQ thinks that this relationship will be another fascinating and satisfying step forward for the industry chain outreach since it will integrate and strengthen independent and small hospital chains.
Last but not least, the company looks forward to collaborating with more partners to expand the service offering and improve the skills in better answering any expanding demands in the user community, resulting in faster growth for everyone.