Hong KongOne yuan buys a business that lost over 280 million.

GOGOX holds 0.5% of mainland same-city freight, against Lalamove’s 61%, Frost & Sullivan data show.

GOGOX took commission while Lalamove charged drivers monthly fees to take orders, binding drivers more tightly.

GOGOX says the sale is not an exit from the mainland and its driver agreements stay valid.

After the sale, GOGOX plans to rename itself GOGO Technology and focus on Hong Kong and overseas.

How each outlet framed it
TMTPost leans critical
reads GOGOX's HK$1 sale as the end of a decade-long arc from a B2C pivot back to B2B, with the mainland unit losing RMB 280M since 2024

Sources: TMTPost