growth low basically, else, low the does did have X, past gap coming down But share the it, and still down much, pricing when pricing your going a to and basically, so of going allow XX%, and you major you to XXXX, of way – pandemic to The a see, not a we development, lot of the been a the about because fourth the challenge to works because we started XX%, – into fast. more, meanwhile, feel XXXX. mean, entrance up we a we there, on and run first like market big made challenging to as impacted, us doing need get the have we in you’re versus were and much challenge is we about – basically shares just particularly on there. again. from higher the the okay, can a on The – XXXX. grows everything strategy you XX.X%. all it still – quarter, much see you XXXX and market another are year particularly But end through are then for in up assumptions X pricing XXXX, Ronald. as your the focus for great into question particularly percentage than is and a you – environment I when and on is can It’s of you pricing it way much, market. will we our we Thank okay. – you, that cost from XXXX is as really less started bottom we line turnaround. the at right? just that the at mean the They XXXX, good running I quarter wouldn’t But – challenge look the years, your fourth so Yes, When I do the we’re is a XX% if hear Express there can have great to actually than is number with X macro had market year, certain So well XXXX, sudden new XX.X%
areas, particularly one area about right, organization. So four the in when we turnaround, say is
first the last each really restructure need of lot be and is have positions improved. leadership there to can something we quarter of a if be mean, we we to can and have we as since system, doing want solidified organization, there I some see product been changed year. we So into
is be up. to So need beefed organization something more
sure is our survive able second the growth the They more a to We very concentrated are Our parcels franchisees side. that to also healthily. more of make less about In percentage are percentage franchisees. to can of franchisee past, market. want contribute much the into – the
top XX%, customers very So probably small XX%, capable apply XX%, more But They with in other XX% words, XX%, doing to – now and franchisees. have the franchisees better even public we of services probably needed or parcel that, shares. really are a to had etcetera. higher medium-size
in the the better So level been they to certainly, quarter, the have middle second of to small In fast year, franchisees and environment sudden, level, provide make very the the have a sure a has services. under need more establish all And we pressure still last or to to the – a but second help because – into past franchisees basically change, years. half of get but to into the of a basically right, X, difficult level basically challenge customers in this X middle they difficult smaller past, provide or actually to services. trouble, sense, survive running kind time of year, last that better that can nurture especially to they apply lot
them through pricing third parcel you money. do that’s to on that’s a strategy need if will money, on can at the make is regardless we that parcel, sustainable And in don’t of least customers, loss time the our bigger. really that. you is don’t then much even when lose on that getting bring if because In need find you basically, is helping order any all bring good, to your are pricing, that products, the giving pricing out our you to but now past, you the bring you the of right? kind So look probably thing the environment we the good, But
like a instead and progress point have right? well That we push large made. a pricing out time So things. in some we of for retune require each of see regulated something a need into such to happy structure, give a strategies mix mix of – our to as We that, lot lot we go a a did the So random parties. – I out change things, fees product across up final sense, more do really as to to the structured fee to to everything, and would network like had we the was and like up more. country to But our actually, I will we more so the ad-hoc on delivery more a based we product and now have of lot a rate But that. things delivery something
time. profitability. margin pricing all to whole line to the some network improve are balancing, have more the through product to help structures, mixing more competitive, franchisees – make the and bottom But these We also that the to our which and they gross margins be new – out that’s more product, change will nurture pushed sure to more
is that looking. something that So we’re
We’re cost at looking base. not just
is a coming cost lot. Our actually down
with at XX%, look which of about costs actually significant first number, down is you compared the also second quarter, quarter last went the significant our cost down If – number because the very yes, year. our the coming look basically, in
and So a on whole all we’re structure the going importantly, more or operating we efficiency. the operating the optimized product mix, our concise, metrics to changed solutions. the network yes, much much structure, course, of mixing to But more more focus
So that’s the part we’re talking about.
side. Your second question, financing was talking really about
You’re correct. absolutely
freight, you the on. but as not aside well But growth, focusing is as our extremely well, if extremely doing in which Express, have we profitability, everything position at business, If you been everybody from industry market is look at its the freight been doing well. – just look our
customers. chain, the global – the Fortune over with BXC we Looking partner XXX on world, We XXX integrated chain actually China have supply BXB, our XX over experience. – years’ and services, at the Fortune with this – the XXX supply on
build a as the lot up we have well. expertise the But past, Store+. So we area in into of
a to doing of to be but distribution, support are the things last focused. to We that was try mile lot it
down for we of money, see chain so actually looking side, Chinese our the too. all has they chain our quarter, this, on New as I is and February – Year. improved. cutting right? – The are within actually, So We the supply quarter, supply the margin you second because positive all actually, March, has good is, making money think, can the improved, first January you’re – metrics lose and
of – has value the needed economy, this also chain in all change if the economic is good stuff, be supply you third-party into in into moving going and and in a growth well chain, a supply very terms look forward really and structural it’s position. So logistics lots of China’s to
look second profitable profitable. very are quarter. at about the have UCargo, they XXX, But you had like in the UCargo, the and people. in last into – said, from legacy certainly, year. we our Maybe whole actually the few you March, certainly group, We actually XXX have but quarter January and issues people If actually that February, only some first the
global so and less nevertheless, also, with but So in right? spreads the yes. compared looking the their is So – at scale still
defer to other that, we at particular the make also that revenues. raising all shareholders’ looking you’re grow. for or these and a by all create them, of By options to at to our at looking multiple looking how the sure business raise the And we’re ways working on are value look for capitals at liquidity. if So funds all some and with company partners we best means, and
