Yojee Limited (ASX: YOJ), previously known as Southern Crown Resources Limited, has a collaborative economy technology platform that focuses to provide on-demand movement of goods and services, and specializes in artificial intelligence and blockchain. The Company’s platform aggregates and optimizes logistics businesses. The group is thus emerging as future ready platform technology company that develops powerful logistics and supply chain management capabilities via its block chain secured software and network across Asia and Australia. The group is also growing its contract SaaS customer base.

As at May 22, 2018, Yojee Limited was noted to trade at the current market price of $0.145 with the market capitalization of $88.26 million. YOJ’s price change entailed a rise of 26.1% on May 22, 2018. This whopping rise in stock price was driven by the deal with Schenker in Asia Pacific under a Services Agreement for the development of an On-Demand Last Mile Delivery Service Platform in Asia. This project will run up for four months and Schenker (Asia Pacific) will pay Yojee a fee to commence the project for the implementation of Yojee’s platform into Schenker’s (Asia Pacific) Ecommerce and last mile operations.

If we look at last twelve months, the stock has seen a favorable performance change of 55.41% but was down 66.2% this year to date owing to volatility. The company is introducing its version 2.0 back end infrastructure using Elixir and Erlang technology. Its focus is on integration of blockchain to software products and running successful proof of existence testing, collaborating with UPS to successfully test Yojee’s blockchain technology in the UPS supply chain, and adding depth and capability to the technology to deliver industry leading product pipeline. The group is gradually increasing the total number of signed, minimum spend, SaaS contracts. Also, it is growing Singapore freight network deliveries by nearly 20% compared to peak Christmas period.

The first quarter of 2018 has been a transformational quarter for Yojee with the foundations laid for the roll out of multiple industry leading products and scaled delivery to enterprise customers in 2018. It is worth noting that group’s software sales have continued to show some solid growth even with transition from version 1.0 to version 2.0 product. New customers were signed up and implemented in many countries. During the first three months of the year, five new SaaS clients have been signed-up across multiple geographies and one client has renewed their contract. Of particular note during the quarter was the partnership announced with Sinotrans Integrated logistics Australia (“SILA”), part of Sinotrans and CSC international network, China’s largest shipping and logistics company.
Given the developments, it will be worth watching the stock in the coming periods.


YOJ Daily Chart (Source: Thomson Reuters)
 
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