Chinese E-commerce Service Provider Chancemate GMV in 2022 Reached $2.65 billion

Chancemate (Hangzhou Onechance Tech Corp), the Chinese e-commerce service provider, released its 2022 annual report.

In 2022, the GMV of the Chancemate service brand reached 26.485 billion yuan ($2.65 billion), which was roughly the same as the previous year. The operating revenue was 1.538 billion yuan ($222.54 million), an increase of 35.55% year-on-year. The net profit attributable to shareholders of the listed company was 180 million yuan ($26.04 million), a decrease of 44.9% year-on-year. The net profit attributable to shareholders of the listed company after deducting non-recurring gains and losses was 148 million yuan ($21.48 million), a decrease of 42.73% year-on-year.

According to the financial report, Chancemate belongs to the information transmission, software, and information technology services industry. The company's main business includes brand online services, online distribution, and content e-commerce services. Among them, brand online services are the company's main business. During the reporting period, the company added 42 new brands, including Mentholatum, Lesening, and Stokke cosmetics, while ensuring the basic stability of its core customer base.

Chancemate attributed the year-on-year growth in operating revenue mainly to the increase in revenue from newly-added customers in brand online marketing services and online distribution, as well as the growth in revenue from new business types such as content e-commerce.

However, the total of the company GMV in 2022 showed a slight decline compared to the same period, mainly due to the downward trend in GMV on the Vipshop platform.

In 2022, the company's R&D expenses amounted to 32.31 million yuan ($4.67 million), an increase of 32.27% year-on-year. The company's technology department made investments in two directions. On one hand, under the strategy of being a comprehensive e-commerce service provider, the company's existing digital tools completed full-domain adaptation iterations, including full-domain e-commerce ERP, full-domain operation tools, full-domain risk control tools, etc. On the other hand, under the new consumer brand accelerator strategy, the company expanded the data dimensions and depth of data projects and improved industry radar projects.

In 2023, Chancemate will continue to expand its general agency model, focusing on the construction of high-quality offline channels for key target groups (member stores, high-end, etc.). It will also deepen cooperation with established brands and accelerate the expansion of new brands. The company will continue to develop explosive subcategories as a platform development strategy and explore more high-quality brands in the trend of sub-segmentation, helping start-up brands to grow through the "new consumer brand accelerator" model.