Hong KongGOGOX agreed to sell its mainland business for 1 yuan.

The unit lost RMB49.3 million after tax on RMB44 million revenue in early 2026.

After years of heavy spending, Kuaigou held 0.5% of intra-city freight against Lalamove’s 61% in 2025, one estimate shows.

GOGOX says only ownership changes, and Kuaigou Dache keeps operating under its new owner.

The sale still needs shareholder approval, and GOGOX would rename itself GOGO Technology.

How each outlet framed it
TechNode
reads the RMB1 sale as an ownership change, not a shutdown, and traces the fee model that burned Kuaigou's marketing budget

Sources: TechNode