PChome Reports NT$9.20 billion Revenue for 2019 First Quarter
Revenue Grows with Positive Bottom Line, Striving for Open Structure and CBT
The largest eCommerce group in Taiwan – PChome Online (8044 TW) today (May 14th) announced financial report for 2019 first quarter. Consolidated revenue for 2019 first quarter is NT$9.20 billion, growing by 12.3% compared with the same period last year. Growth drivers for the quarter mainly are Chinese New Year preparations for home electronics and cross-border frozen cuisines. Also, mobile optimization is showing positive results with mobile sales maintaining 50% yoy growth. Personal Store, a platform under PChome’s subsidiary PChomeStore, starts to generate revenue. Pi Wallet provides more diversified payment scenarios and significantly expands channels available for P point, further strengthen O2O development of the Group. Consolidated marketing expense declined by approximately 50% and successfully turned back to net. Consolidated EPS for the quarter is NT$0.42. Both revenue and profitability demonstrate an upstream trend.
“PChome continues to scale up and has come back to profit in the first quarter. Striving to build an open and collaborative platform, PChome not only shares internal massive data traffic and payment, logistic service with external parties, but also develops O2O partnership to buildup comprehensive P point ecosystem.” Chairman of PChome Online, Mr. Jan said. “Recent cross-border strategic alliance with Rakuten and eBay to connect members and points and to list US products, separately, both provide Taiwan buyers a moreconvenient shopping environment. PChome will, based on Taiwan localized service structure, gradually connect with the world, and form an internet service network without any boundaries via offline and online integration.”
2019 first quarter operating highlight:
– PChome24h continues to connect with more and more strategic partners, including the fastest growing cashback network-Shopback, JKo pay, 32 banks, and 6 major mobile payments, aggressively strengthen long-term operating advantage to create new momentum from mobile shopping and starts work on cross-border items and frozen goods as new initiatives.
– Ruten Auction shows significantly growth momentum. There are more than 390 million listings on the website, 1.6 times bigger compared with the same period last year and has officially became the platform with the largest listings in Taiwan. Advertisement revenue from bidding model has surpassed that of display model in 2019 first quarter. When comparing the two models, revenue growth from bidding model is 2.4 times bigger than that of display model.
– PChomeStore Personal Store has converted operating momentum to revenue since last November when announcing commission and raised the commission rate to 1.49% in March. PChomeStore is showing a positive operating profit in April.
– Pi Wallet deepens down on membership ecosystem by building up the environment via E.Sun-Pi co-brand card. There are more than 500,000 people using Pi Wallet and Pi ecosystem generates millions of transactions every month. Pi Wallet has expanded to diversified channels, including department stores, fast food chain stores, café shops, bookstores and ect., significantly increase the convenience.
