Yiwu China Commodities City (600415.SH) reported January-September revenue of 15.319 billion yuan, up 17.29% year on year, with net profit attributable to shareholders of 3.46 billion yuan, roughly flat at plus 0.09%.
Its digital platforms are scaling fast. In the first nine months, the Chinagoods platform added more than 580,000 newly registered buyers, taking the cumulative total past 6.08 million, while the World Yiwu commerce large-model app added over 20,000 users for a cumulative 70,000-plus. The group also rolled out 16 new AI applications including data insights, e-commerce pass and AR space, serving a cumulative 316,000-plus users.
Payments are the standout: Yipay's cross-border payment business processed more than 7.51 billion US dollars in the period, up 98% year on year - a barometer of the foreign-buyer influx converging on Yiwu during the fair season.
The results show the market operator monetizing physical market traffic through digital trade services, even as thin net-profit growth highlights the squeeze of intense competition on traditional channel margins.
Image: Tourist goods at Yiwu International Trade Mart. Source: Wikimedia Commons (CC BY-SA 4.0).
