At Momo's annual shareholders' meeting, Fubon Group chairman Daniel Tsai acknowledged that while not all expectations were met, the e-commerce platform delivered a record-breaking consolidated revenue of NT$112.56 billion (US$3.78 billion) in 2024. The result marked a 3% year-over-year increase, with Momo outperforming Taiwan's broader online retail market despite mounting external challenges.
However, data from the Taiwan Stock Exchange's MOPS system reveals recent monthly revenue softness, raising concerns among industry watchers about the company's growth trajectory.
Navigating trade tensions and operational challenges
In his opening remarks, Tsai emphasized that ongoing global disruptions—particularly the lingering effects of the US-China trade conflict and tariffs introduced during the Trump administration—continue to weigh on supply chains and raise operational costs. He noted that Momo is actively monitoring these developments to better understand consumer sentiment and adapt through operational upgrades and long-term transformation strategies.
Strategic diversification drives growth
To sustain growth and diversify its retail model, Momo made strategic investments in 2024 in several emerging areas, including mo+ physical stores, digital advertising, and live-streaming commerce. These moves aim to broaden revenue streams and increase consumer engagement beyond traditional online shopping.
Logistics expansion supports nationwide reach
Logistics infrastructure has also been a key focus. The company's northern logistics hub continues to provide stable service, while the southern center came online in 2024. The central logistics facility, slated to open in 2027, will complete a tri-regional distribution network. All centers are equipped with rooftop solar panels as part of Momo's push toward greater use of renewable energy.
Momo also announced plans to enhance short-chain logistics through the development of a main warehouse in Hukou, Hsinchu. The facility will be built on property leased from Fubon Life Insurance, with a 20-year agreement covering buildings A1 and A2 once construction is completed.
Environmental commitments take center stage
As part of its environmental strategy, Momo is advancing low-carbon initiatives across its operations. These include reducing packaging waste, lowering logistics-related emissions, and expanding its portfolio of eco-friendly products.
In addition to the record revenue, Momo reported an operating profit of NT$4.3 billion in 2024, with an operating margin of 3.8%. Net profit after tax reached NT$3.45 billion, underlining the company's resilience in a turbulent economic environment. Looking ahead, Momo plans to build on this momentum by deepening its commitment to innovation and sustainability.
Article edited by Jerry Chen
