According to Zhitong Finance App, Kuaigou Taxi (02246) announced that on October 16, 2026, the company plans to sell all issued share capital of the target company GGEX Holdings Limited to the buyer Crestpoint Investment Limited at a cost of RMB 1.00. Upon completion, the company will no longer hold any issued share capital of the target company, and the target company will no longer be a subsidiary of the company. As a result, the financial results of the target group will no longer be consolidated into the group's consolidated financial statements.
The target company is an investment holding company incorporated in the British Virgin Islands and wholly owned by the Company at the date of the sale agreement. Apart from directly holding 100% of the shares of China Kuaigou Taxi Group Co., Ltd., China Kuaigou Taxi Group Co., Ltd., which holds 100% of the shares of Shanghai Wholly Foreign-Owned Enterprise, Tianjin Wholly Foreign-Owned Enterprise 1, Hainan Wholly Foreign-Owned Enterprise, and Tianjin Wholly Foreign-Owned Enterprise 2, it has no other business operations. Wholly foreign-owned enterprises in Shanghai, wholly foreign-owned enterprises in Tianjin, and wholly foreign-owned enterprises in Tianjin are all dormant companies, while wholly foreign-owned enterprises in Hainan are mainly engaged in technical services, development and consulting activities. Wholly foreign-owned enterprises in Hainan control 100% of the shares of Tianjin Five Eight Freight, Zhenjiang Five Eight Supply Chain, Hainan Five Eight Freight, Tianjin Fast Dog Freight, and Anhui Express Delivery through a series of contractual arrangements. Tianjin Five Eight Freight, Zhenjiang Five Eight Supply Chain, Hainan Five Eight Supply Chain, Hainan Five Eight Freight, and Tianjin Fast Dog Freight are each mainly engaged in providing logistics and distribution solution services, while Fast Dog Tianjin and Anhui Express Delivery are each mainly engaged in technical services, development and consulting activities. Furthermore, a wholly foreign-owned enterprise in Hainan and Chery Wanda Guizhou Bus Co., Ltd. control 40% and 60% of Wuhu Kaixin's shares respectively.
The Board of Directors continuously reviews the Group's business portfolio with the aim of improving long-term operational efficiency and strengthening the Group's strategic priorities. In view of the Group's latest development priorities and the evolving market environment, the Board believes it is appropriate to streamline the Group structure and focus resources on markets and business lines that are more in line with the Group's forward-looking strategy.
As part of this review, the Board noted that the Chinese market, where the target group mainly operates, is no longer the Group's core geographical focus from a strategic planning perspective. Although the target group maintained its operating capacity, its business scope and geographical coverage did not fully meet the Group's current priorities. The Board therefore believes that the sale will enable the Group to streamline its market layout and reallocate management's attention and resources to areas more strategically relevant to the Group's future development.
The sale also enabled the target group to operate under a new shareholder, and the new shareholder may be more able to invest targeted resources and flexibility in its business. The board of directors believes this is beneficial to the target group's future growth. At the same time, the reduction in administrative burdens and structural complexity is expected to enhance the Group's flexibility and operational focus.
The board of directors recommended changing the company's Chinese name from “Kuaigou Taxi Holdings Limited” to “GOGO Technology.” The company's English name remains unchanged. The proposed change of company name is subject to completion (including) of the proposed change of company name before implementation.
The company is an exempted limited company incorporated in the Cayman Islands. The Group operates an online same-city logistics platform in Asia through its subsidiaries.
The board of directors noted that on June 24, 2022, the company was first listed on the main board of the Stock Exchange under the English name “GOGOX Holdings Limited” and the Chinese double foreign name “Fast Dog Taxi Holdings Limited”. The Chinese name reflects “Kuaigou Dache (Kuaigou Dache)”, and the group operates business in China under this brand.
As stated in this announcement, the company has entered into a sales agreement to sell the target group, and the group operates business in China through the target group. After completion, the Group will no longer operate any business in China under the “Fast Dog Taxi” brand. The Group's business will shift to focus on Hong Kong, China and other overseas markets, where it will operate under the “GOGOX” brand. Therefore, the Board believes that the current Chinese name no longer reflects the Group's business and future strategic direction, and that retaining the name may cause confusion among shareholders, potential investors and the public about the Group's business. The board of directors believes that the proposed new Chinese double foreign name “GOGO Technology” will better reflect the Group's completed business, give the company a more clear corporate identity, and make its corporate identity consistent with the “GOGOX” brand used in its market.
Furthermore, the proposed changes will not affect any shareholders' rights or the Group's day-to-day business operations or financial situation. The Board believes that the proposed change of company name is in the overall best interest of the company and shareholders.