— Be the Change Leader in China’s Freight Industry. We did it!
Dear Trucpal Community, With gratitude and pride, the Trucpal team is here to share with you the progress we made in 2022, and more importantly, the recognition from our global investors has given us great confidence and encouragement, which is one of the core motivations for Trucpal’s continued progress.
Let’s take a look back at some of the critical advances Trucpal made in 2022.
1. Customer adoption is continuing to grow at a high rate!
In 2022 Trucpal achieved an annual transaction volume of RMB716.38M, about USD104M; compared to 2021, the transaction volume increased by 700%. The system accumulated 11,500 entities and 17,600 registered Trucbooks, both of which achieved 200% growth compared to 2021.
The newly developed Trucpal 5.0 system has been online testing since January 24, 2021, and officially started operating in June 2021. By the end of 2022, after 18 months, Trucpal has maintained a very good and stable functioning and well-supported daily business operations of our users.
We also continue to improve the operation efficiency and provide more functions of the Trucpal system, and throughout 2022, the Trucpal system maintained a monthly iteration and continued to improve. Compared with the official operation in June 2021, the transaction volume processed in December 2022 has increased 25 times, and the processing speed increased by 800%. And also the data accuracy and data security have been recognized by our customers.
2. We started charging, and customers are contributing real value to the Trucpal system and Token holders!
In August 2022, with the steady growth of the number of users and transaction volume, we started to review and design the fees of Trucpal system. We decided on the two core revenues of Trucbook: The cloud transaction service fee and The subscription fee .
Each transaction payment made by eco-users on the system needs to be supported by Trucpal’s bookkeeping, therefore, the first revenue of Trucpal system design is to collect a “cloud transaction service fee” from the recipient and the payer for each transaction payment made on the system, regardless of the amount.
In October 2022, the cloud transaction service fee was officially launched to start charging, and the total cloud transaction service fee for the year 2022 is RMB 205,094.1, (about USD 30,000). Based on the cloud transaction service fee of RMB 0.45 (about USD 0.07) per payment, from October to December, 455,765 payments were made by the system, with an average amount of RMB 572 (about USD 83) per payment. The successful launch and stable charging of cloud transaction service fee has achieved the breakthrough of “0 to 1” of system revenue.
In December 2022, Trucbook completed the design of the free version and subscription version, and in Q1 of 2023, Trucbook subscription fee started to test and charge, and the official charge is planned to start in the second quarter.
The launch of Trucpal cloud transaction service fee and subscription fee proves the profitability of Trucpal system, from now on Trucpal system not only creates value for users but also gains growing revenue, part of which we will give back to Trucpal Token holders.
3. Trucpal successfully launched the STO and eco-incentive.
On July 28, 2022, after 600 days of compliance preparation and with the joint support of the US/China/Virgin Islands legal and compliance teams, Trucpal successfully completed its due diligence and launched the official offering of Trucpal Token, compliant digital security representing Trucpal’s future revenue, on the INX platform. We received cornerstone investments from VCs such as Beyond Venture, a leading venture capital firm, as well as strong support from the global STO community, especially the INX community! This is the world’s first STO from China, the first STO with a verifiable revenue model, and the first STO from the freight industry — a fast-growing digital transformation market.
4. Trucpoint incentives to motivate more adopters!
Since the system was launched in 2021, a total of 7,338 users have mined 14.49 Million Trucpoints with their transactions, which corresponds to the creation of RMB820.26 Million (about USD119 Million) in transaction volume, with an average of RMB56.6 (about USD8.2 ) of transaction for each Trucpoint.
We plan to launch user “Referral Mining” in the Q2 of 2023. We are planning to launch a user incentive promotion to drive more rapid user growth as the system charges go live and features are refined.
5. Trucpal has gained wide recognition and great attention for the innovation driven by the industry!
In September 2022, The Trucpal system was awarded the “2022 Excellent Case of Industrial Internet Platform” by China Federation of Logistics and Purchasing(CFLP) (the most influential association in China’s logistics industry) and recommended to the whole industry.
On February 23rd-25th, 2023, CFLP will hold the 5th Annual China Internet Freight Platform Conference in Xiamen, the city where Trucpal is headquartered, and Trucpal was also invited to give a keynote speech on “Innovative Applications of Internet Freight Platform 2.0” for further expansion of our influence.
6. We have more vital cooperation to start soon!
In October 2022, we started to negotiate cooperation with the first listed company in China for highway charging, and the partner highly praised Trucal’s design concept and the rich and professional system functions. This partnership will provide 800,000 existing truck users with a wide range of services, including vehicle expenses and taxation, which will drive Trucpal’s exponential growth!
We are already in the process of preparing commercial contracts and expect to be ready to start serving users in the Q2 of 2023.
Through this exciting partnership, Trucpal Systems is expanding its market share in China’s largest economic region, the Yangtze River Delta Economic Zone, which centers around Shanghai, Zhejiang, and Jiangsu.
7. We overcame challenges!
Like other successful business operations, we have encountered many unexpected difficulties and challenges. The hardships brought about by the 2022 COVID-19 and the changing needs of our customers have pushed us to be quick and agile in making adjustments, focusing more on the user experience and providing excellent system functionality. By taking more time to communicate with our users more deeply to understand their needs, habits, and difficulties in upgrading, we can better refine our training materials and develop new models.
At Trucpal, we are committed to the belief that upgrading to digital is now the standard in our industry. In order to support this, we are dedicated to continually improving the usability and accessibility of the Trucpal system. By doing this, we can enable more users to utilize the system effectively, leading to improved business outcomes. Simultaneously, we will leverage the innovative “Performance Mining and Referral Mining” model to drive the growth and success of the Trucpal ecosystem.
Lastly, we would like to thank the Trucpal community once again. Your support, encouragement, and trust have given us great confidence, and in an environment full of challenges and uncertainty, confidence is the most valuable resource. We know that what we have created is not only a better service to our customers but also a responsibility to all those who support Trucpal.
We come from the Internet industry, and we also integrate crypto finance, which is a core part of our business DNA. Innovation, compliance, and honest and solid operations are our core principles, both for our customers and investors, and we are confident that this will bring long-term value and returns to all of Trucpal’s stakeholders!
Happy 2023 to everyone!
Sincerely
Trucpal Team
Jan 3, 2023, Xiamen
About Trucpal
Trucpal offers an innovative freight service SaaS platform in China and is an innovative company in China’s freight industry. Through its high-speed growth and industrial internet innovation over the past 8 years, Trucpal has become a leading service provider in China’s digital freight market. The strategy of Trucpal is to build a sustainable competitive advantage in the logistics industry through continuous innovation in business models, especially by blockchain technology, through building the open platform and integrating both the token economy and compliant operations.
Please visit https://www.wehgc.com/ for more information.
