Logory Logistics Technology Co., Ltd. 合肥維天運通信息科技股份有限公 司 （於中華人民共和國註冊成立的股份有限公司） （股份代號：2482） | 與 本 代 表 委 任 表 格 有 | 內 資 股 | | --- | --- | | （附 註1） 關 的 股 份 數 目 | H股 | 適 用 於2025年9月25日 舉 行 的 臨 時 股 東 會 的 代 表 委 任 表 格 本人╱吾等 （附註2） 地址為 為合肥維天運通信息科技股份有限公司（「本公司」）每股面值人民幣0.0625元的H股 （附註3） 的持有人。茲委任大會 主 席 （附 註4） 或 地址為 為 本 人╱吾 等 的 代 表，代 表 本 人╱吾 等 出 席 本 公 司 謹 訂 於2025年9月25日（星 期 四）下 午 二 時 正 假 座 中 國 安 徽 省 合 肥 市 高 新 區 創 新 大 道2700號9樓 舉 行 的 臨 時 股 東 會（「臨 時 股 東 會」）（及 其 任 何 續 會）以 審 議 並 酌 情 通 過 臨 時 股 東 會 通 告 所 載 之 決 議 案，並 在 臨 時 股 東 會（或 其 ...

香 港 交 易 及 結 算 所 有 限 公 司 及 香 港 聯 合 交 易 所 有 限 公 司 對 本 通 告 的 內 容 概 不 負 責，對 其 準 確 性 或 完 整 性 亦 不 發 表 任 何 聲 明，並 明 確 表 示，概 不 對 因 本 通 告 全部或任何部份內容而產生或因倚賴該等內容而引致的任何損失承擔任何責任。 （於中華人民共和國註冊成立的股份有限公司） （股份代號：2482） 臨 時 股 東 會 通 告 茲 通 告 合 肥 維 天 運 通 信 息 科 技 股 份 有 限 公 司（「本 公 司」）謹 訂 於2025年9月25日（星 期 四）下 午 二 時 正 假 座 中 國 安 徽 省 合 肥 市 高 新 區 創 新 大 道2700號9樓 舉 行 臨 時 股 東 會，藉 以 審 議 並 酌 情 通 過 以 下 決 議 案。除 文 義 另 有 所 指 外，本 文 所 用 詞 彙 與 本 公 司 日 期 為2025年9月5日 的 通 函（「通 函」）所 界 定 者 具 相 同 涵 義： 普 通 決 議 案 1. 審 議 及 批 准 增 加2025年 銀 行 授 信 額 度 的 建 議。 特 別 決 ...

此 乃 要 件 請 即 處 理 閣下如對本通函任何方面或應採取的行動有任何疑問，應諮詢股票經紀或其他註冊證券商、銀行經理、 律 師、專 業 會 計 師 或 其 他 專 業 顧 問。 閣 下 如 已 將 名 下 的 合 肥 維 天 運 通 信 息 科 技 股 份 有 限 公 司 股 份 全 部 售 出 或 轉 讓，應 立 即 將 本 通 函，連 同 隨 附 的 代 表 委 任 表 格，送 交 買 主 或 承 讓 人，或 經 手 買 賣 或 轉 讓 的 銀 行、股 票 經 紀 或 其 他 代 理 商，以 便 轉 交 買 主 或 承 讓 人。 香 港 交 易 及 結 算 所 有 限 公 司 及 香 港 聯 合 交 易 所 有 限 公 司 對 本 通 函 的 內 容 概 不 負 責，對 其 準 確 性 或 完 整 性 亦 不 發 表 任 何 聲 明，並 明 確 表 示，概 不 對 因 本 通 函 全 部 或 任 何 部 分 內 容 而 產 生 或 因 倚 賴 該 等 內 容 而 引 致 的 任 何 損 失 承 擔 任 何 責 任。 Logory Logistics Technology Co., Ltd. 合肥維天運 ...

FF301 股份發行人及根據《上市規則》第十九B章上市的香港預託證券發行人的證券變動月報表 截至月份: 2025年8月31日 狀態: 新提交 致：香港交易及結算所有限公司 公司名稱: 合肥維天運通信息科技股份有限公司 呈交日期: 2025年9月3日 I. 法定/註冊股本變動 | 1. 股份分類 | 普通股 | 股份類別 | H | | | 於香港聯交所上市 (註1) | | 是 | | | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | | 證券代號 (如上市) | 02482 | 說明 | | | | | | | | | | | 法定/註冊股份數目 | | | 面值 | | | 法定/註冊股本 | | | 上月底結存 | | | 527,431,924 | RMB | | 0.0625 | RMB | | 32,964,495.25 | | 增加 / 減少 (-) | | | | | | | RMB | | | | 本月底結存 | | | 527,431,924 | RMB | | 0.0625 | RMB | | 32,964,495 ...

Core Viewpoint - The company, Weitian Yuntong, reported a decrease in revenue for the first half of 2025, primarily due to a decline in freight service volume, but achieved significant improvements in profitability and gross margin [2][3][4]. Financial Performance - Total revenue for the first half of 2025 was approximately 3.03 billion yuan, a decrease of about 7% from 3.26 billion yuan in the same period last year [2]. - Adjusted net profit for the first half of 2025 was 26.76 million yuan, an increase of 7.04% year-on-year [2][4]. - Gross profit reached 202 million yuan, with a growth rate of 15.7%, and gross margin improved from 5.35% to 6.65%, marking a recent high for mid-year reports [2][4]. Business Segmentation - The company's revenue is primarily derived from digital freight services, with online GTV for freight services around 3.1 billion yuan and for freight platform services reaching 14.8 billion yuan, totaling 17.9 billion yuan in online GTV [3]. - The annual retention rate of core shippers on the platform was 91.2%, indicating strong competitiveness in maintaining existing customers [3]. Cost Management - Operating costs for the first half of 2025 were approximately 2.83 billion yuan, a decrease of 8.3%, which exceeded the revenue decline, mainly due to reduced freight service volume leading to lower driver payment expenses [4][5]. - The improvement in gross margin is attributed to effective cost control and optimization of the business structure [4]. R&D and Innovation - R&D investment increased by 16.4% year-on-year to 45.4 million yuan, while sales expenses decreased by 13.7% to 37.3 million yuan [5]. - The company is focusing on AI and large models to enhance operational efficiency, with the AI assistant "Tingjie" covering all logistics projects and achieving a 76% reduction in labor costs in driver management [6][7]. Industry Trends - The digital freight industry is experiencing intensified competition and regulatory changes, with a new policy requiring internet platforms to report tax-related data, marking a shift towards compliance and regulatory oversight [7]. - The industry is expected to see a consolidation of inefficient capacities, with smaller platforms lacking digital capabilities being eliminated, and competition shifting from price wars to a focus on digital capabilities and compliance [7].

Core Viewpoint - The company, Hefei Weitian Yuntong Information Technology Co., Ltd. (referred to as "Weitian Yuntong" or "Luge"), reported a strong performance in the first half of 2025, showcasing significant growth in revenue and profitability within the digital freight sector [1] Group 1: Financial Performance - In the first half of 2025, the company achieved an operating revenue of 3.03 billion yuan, with a gross profit of 202 million yuan, reflecting a year-on-year gross profit growth of 15.73% [1] - The adjusted net profit was approximately 26.76 million yuan, representing a year-on-year increase of 7.04% [1] - The total online freight settlement amount (GTV) reached 17.9 billion yuan, indicating the company's leading position in the industry [1] Group 2: Business Growth and Client Engagement - The digital freight business served 4,801 shipper clients and completed approximately 4.3 million shipping orders in the first half of 2025, with a core client annual retention rate of 91.2% [2] - The platform has cumulatively served over 17,700 shippers, a year-on-year increase of 12%, and has provided services to over 3.7 million truck drivers, completing over 60.6 million orders [2] Group 3: Community and Driver Support - The company operates the largest truck driver community in the country, known as "Kayu District," with approximately 3.5 million registered online users and offline mutual assistance branches covering 298 cities [3] - The company focuses on driver rights protection and has integrated resources into practical business scenarios, enhancing service efficiency and community engagement [3] - In the first half of 2025, 182,200 drivers were introduced to the digital freight platform from the Kayu District, accounting for 22.40% of the total drivers on the platform [3] Group 4: Innovation and Technology Development - The company invested 45.4 million yuan in research and development in the first half of 2025, marking a year-on-year increase of 16.4% [4] - The AI assistant "Tingjie" has undergone significant upgrades, improving operational efficiency and reducing management costs for truck drivers by 76% [4] - The company provides deep data services based on real-time logistics data, helping clients identify operational weaknesses and opportunities [4] Group 5: Future Outlook - The company aims to leverage AI technology to reconstruct transportation management processes and expand the depth and breadth of data services, establishing a data-driven new business model [6]

Group 1 - The company, Weitian Yuntong (02482.HK), reported a revenue of RMB 3.03 billion for the six months ending June 30, 2025, representing a year-on-year decrease of 6.97% [1] - The gross profit for the same period was RMB 202 million, showing a year-on-year increase of 15.73% [1] - The profit attributable to the owners of the parent company for the period was RMB 28.01 million, which is a year-on-year increase of 16.54% [1] - The basic earnings per share were RMB 0.02 [1]

Group 1 - The company, Weitian Yuntong (02482), reported a revenue of 3.03 billion RMB for the six months ending June 30, 2025, representing a year-on-year decrease of 6.97% [1] - The profit attributable to shareholders was 28.01 million RMB, showing a year-on-year increase of 16.54% [1] - The basic earnings per share were 0.02 RMB [1]

[Interim Results Announcement Summary](index=1&type=section&id=%E4%B8%AD%E6%9C%9F%E6%A5%AD%E7%B8%BE%E5%85%AC%E5%91%8A%E6%91%98%E8%A6%81) This section provides a concise overview of the company's financial performance and key operational highlights for the interim period [Financial Summary](index=1&type=section&id=%E8%B2%A1%E5%8B%99%E6%91%98%E8%A6%81) Total revenue decreased by 6.97% YoY, but gross profit and profit for the period increased by 15.73% and 19.55% respectively, with adjusted net profit up 7.04% due to business optimization and high-margin services Financial Summary (For the six months ended June 30) | Indicator | 2025 (RMB thousands) | 2024 (RMB thousands) | Change (%) | | :--- | :--- | :--- | :--- | | Revenue | 3,030,150 | 3,257,164 | -6.97 | | Cost of Revenue | (2,828,542) | (3,082,955) | -8.25 | | Gross Profit | 201,608 | 174,209 | 15.73 | | Profit for the Period | 26,066 | 21,803 | 19.55 | | Profit Attributable to Owners of the Parent | 28,012 | 24,037 | 16.54 | | Adjusted Net Profit (Non-IFRS) | 26,761 | 25,002 | 7.04 | | Adjusted Net Profit Attributable to Owners of the Parent (Non-IFRS) | 28,707 | 27,236 | 5.40 | [Management Discussion and Analysis](index=2&type=section&id=%E7%AE%A1%E7%90%86%E5%B1%A4%E8%A8%8E%E8%AB%96%E8%88%87%E5%88%86%E6%9E%90) This section analyzes the company's performance, market conditions, and strategic initiatives, providing context for the financial results [Market Overview](index=2&type=section&id=%E5%B8%82%E5%A0%B4%E6%A6%82%E8%A7%88) Digital freight platforms address traditional logistics inefficiencies through technology, supported by policy and market demand, evolving into comprehensive digital infrastructure for logistics and tax governance - Digital freight platforms connect over **8 million** trucks and **7 million** drivers, significantly enhancing social resource coordination efficiency[5](index=5&type=chunk) - State Council Decree No. 810 (2025) formally establishes data's legal validity in tax collection, making digital freight platforms central to logistics industry digital tax governance[6](index=6&type=chunk) - Market demands for digital freight platforms have shifted from singular cost reduction and efficiency improvement to multi-dimensional capabilities in capacity supply chain resilience, efficiency, and collaboration[9](index=9&type=chunk) [Group Overview](index=3&type=section&id=%E9%9B%86%E5%9C%98%E6%A6%82%E8%A7%88) The company operates China's largest digital freight platform, offering integrated transport, operations, and financial services through 12 digital business links, with AI significantly boosting efficiency and focusing on deep digitalization and high-quality GTV growth - The company operates China's largest digital freight platform, having served over **17,700** shippers and **3.7 million** truck drivers, completing a total of over **60.6 million** consignment orders as of June 30, 2025[10](index=10&type=chunk)[20](index=20&type=chunk) - A full-link digital freight system has been built across **12** business links, achieving integrated transport, operations, and financial services, and leveraging AI technology to enhance operational efficiency[11](index=11&type=chunk)[12](index=12&type=chunk) - AI digital human "Sister Ting" fully covers truck driver management and operations for logistics projects, reducing labor costs by **76%** compared to pre-AI application, significantly boosting operational efficiency and management effectiveness[14](index=14&type=chunk) - The company focuses on deepening digital application in logistics projects, selecting shippers with higher digital cooperation value, and pursuing high-quality online GTV growth[16](index=16&type=chunk) [Business Overview](index=6&type=section&id=%E6%A5%AD%E5%8B%99%E6%A6%82%E8%A7%88) This section details the company's business model, services, and the ecosystem it has built within the digital freight industry [Our Business Model and Services](index=6&type=section&id=%E6%88%91%E5%80%91%E7%9A%84%E6%A5%AD%E5%8B%99%E6%A8%A1%E5%BC%8F%E5%8F%8A%E6%9C%8D%E5%8B%99) The company has cultivated a vibrant digital road freight ecosystem in China, integrating "Digital Freight, Trucker Community, and Industry Resource Linkage" to meet shipper needs and support drivers, creating strong synergistic effects - The company's business layout includes digital freight, trucker community, and industry resource linkage, providing full-link digital services and solutions to all participants in the freight industry[17](index=17&type=chunk) - Digital freight business empowers shippers to build private capacity pools through digitalized capacity management, transport processes, and financial settlement, achieving cost reduction, efficiency improvement, and data-driven decision-making[19](index=19&type=chunk) - The large and loyal user base of the Trucker Community provides stable and efficient capacity resources for the digital freight platform, while the platform also attracts more drivers to join the Trucker Community, forming a mutually reinforcing synergy[38](index=38&type=chunk) [Digital Freight Business](index=6&type=section&id=%E6%95%B8%E5%AD%97%E8%B2%A8%E9%81%8B%E6%A5%AD%E5%8B%99) The digital freight business offers freight services and platform services, aiming to digitalize the entire transport process for shippers, enabling data-driven management and building an efficient and collaborative capacity supply chain - Digital freight business online GTV was approximately **RMB 17.9 billion** for the six months ended June 30, 2025, with an annual retention rate of approximately **91.2%** for key shipper clients[20](index=20&type=chunk) - Freight services online GTV was approximately **RMB 3.1 billion**, primarily serving industry clients with high standardization, such as bulk cargo[21](index=21&type=chunk) - Freight platform services online GTV was approximately **RMB 14.8 billion**, primarily serving shippers with complex processes and customized requirements, such as consumer goods, enhancing their operational capabilities through digitalization[22](index=22&type=chunk) [Trucker Community and Industry Resource Linkage](index=8&type=section&id=%E5%8D%A1%E5%8F%8B%E5%9C%B0%E5%B8%B6%E5%8F%8A%E7%94%A2%E6%A5%AD%E8%B3%87%E6%BA%90%E9%8F%88%E6%8E%A5) The Trucker Community is China's largest logistics and truck driver community, offering a platform for communication, business, and social interaction via mobile apps, social media, and offline branches, with new initiatives enhancing content creation and welfare - As of June 30, 2025, the Trucker Community had over **3.5 million** registered users, approximately **3.3 million** social media followers, and established offline branches in **298** cities in China[24](index=24&type=chunk) - During the reporting period, the Trucker Community's online platform launched the "Ai Chuang Platform" to empower truck drivers in content creation, resulting in **1,588** video contents and over **19.6 million** views[25](index=25&type=chunk) - The Trucker Community's online platform has integrated with the "Workers' Home" smart service platform of the All-China Federation of Trade Unions, providing labor protection and legal aid services for truck drivers[26](index=26&type=chunk) Trucker Community Operating Metrics (For the six months ended June 30, 2025) | Indicator | Value | | :--- | :--- | | Converted Truck Drivers (thousands) | 182.2 | | Online GTV Completed by Converted Truck Drivers (RMB billions) | 3.7 | | Consignment Orders Completed by Converted Drivers (thousands) | 708.9 | | Percentage of Truck Drivers Converted from Trucker Community to Digital Freight Platform (%) | 22.4 | [Our Ecosystem](index=11&type=section&id=%E6%88%91%E5%80%91%E7%9A%84%E7%94%9F%E6%85%8B%E7%B3%BB%E7%B5%B1) The company has built a sustainable freight ecosystem connecting drivers, shippers, resource providers, and regulators through digital technology, fostering collaboration, data transparency, and shared value growth while empowering social governance - As of H1 2025, **4,801** shippers completed consignment orders on the digital freight platform, with a cumulative total of **17,702**; approximately **3.8 million** truck drivers completed consignment orders, and **3.5 million** drivers were registered with the Trucker Community[43](index=43&type=chunk) - Active truck drivers numbered **241.4 thousand**, completing over **75%** of the total platform sales orders[43](index=43&type=chunk) - Regulatory authorities achieve data-penetrating risk control and compliance supervision by synchronizing all business data from the digital freight platform to regulatory systems[46](index=46&type=chunk) - Industry resource providers, through digital linkage with the company, offer digital products and services such as finance, insurance, energy, and truck aftermarket services to all participants in the digital freight business[46](index=46&type=chunk) [Technology and Social Responsibility](index=13&type=section&id=%E6%8A%80%E8%A1%93%E8%88%87%E7%A4%BE%E6%9C%83%E8%B2%AC%E4%BB%BB) This section highlights the company's advancements in AI technology for road transport and its commitment to corporate social responsibility initiatives [Our Technology and Digital Products](index=13&type=section&id=%E6%88%91%E5%80%91%E7%9A%84%E6%8A%80%E8%A1%93%E5%8F%8A%E6%95%B8%E5%AD%97%E5%8C%96%E7%94%A2%E5%93%81) The company advances AI in road transport, with its AI assistant "Sister Ting" evolving to automate transport processes and actively manage driver tasks, while also developing digital credit solutions for supply chain finance and transparency for shippers and drivers - AI assistant "Sister Ting"'s technical capabilities have strategically evolved from basic semantic interaction to automated transport process services, forming core operational capabilities in task takeover, rule communication, and problem-solving[47](index=47&type=chunk) - The company develops digital credit service solutions, providing supply chain finance support for shippers across core business scenarios and specialized freight finance solutions for truck drivers in transit[48](index=48&type=chunk) - The company offers "transport operation + business data delivery" services to shippers, breaking the "supply chain black box" and enhancing shippers' consignment delivery capabilities[48](index=48&type=chunk) [Corporate Social Responsibility](index=13&type=section&id=%E4%BC%81%E6%A5%AD%E7%A4%BE%E6%9C%83%E8%B2%AC%E4%BB%BB) The company actively fulfills its corporate social responsibility through initiatives like "Aid for Tibetan Truck Drivers," the "Love Mileage Donation" platform, and partner care projects, providing comprehensive support to drivers, and deepening strategic collaboration with the All-China Federation of Trade Unions for specific rights - Following the Dingri County earthquake in Tibet, the company swiftly launched the "Aid for Tibetan Truck Drivers" initiative, providing supplies and 24-hour hotline services to ensure the smooth flow of the transport lifeline[49](index=49&type=chunk) - The "Love Mileage Donation" public welfare platform has accumulated approximately **600,000** participating drivers, donated **4.3 billion** kilometers, benefiting **3,579** driver families, and specifically helping **40** families reunite[50](index=50&type=chunk) - In collaboration with FAW Jiefang and the China Staff Development Foundation, the "Jiefang Love Navigator • Care for Truck Drivers" project has completed two phases, assisting **315** families with a total of **RMB 1.836 million** in donations[51](index=51&type=chunk) - In H1 2025, the company deepened strategic collaboration with the All-China Federation of Trade Unions, securing **43,000** specific rights for member truck drivers, with a total value exceeding **RMB 2.27 million**[52](index=52&type=chunk) [Strategy and Milestones](index=14&type=section&id=%E6%88%B0%E7%95%A5%E8%88%87%E9%87%8C%E7%A8%8B%E7%A2%BC) This section outlines the company's strategic achievements during the reporting period and its future outlook [Our Milestones in H1 2025](index=14&type=section&id=%E6%88%91%E5%80%91%E6%96%BC2025%E5%B9%B4%E4%B8%8A%E5%8D%8A%E5%B9%B4%E7%9A%84%E9%87%8C%E7%A8%8B%E7%A2%BC) In H1 2025, the company successfully held the 11th "May 2nd Trucker Festival," achieved deep coverage of all logistics projects with AI assistant "Sister Ting," and launched first-hand data services for shippers, enhancing operational efficiency and data value - Successfully held the 11th "May 2nd Trucker Festival" with the theme "From Wheels to AI, Your Voice Needs to Be Heard," empowering truck drivers to voice their opinions through AI technology[53](index=53&type=chunk) - AI assistant "Sister Ting" fully participates in logistics project truck driver operations management, upgrading interaction from menu function lookup to proactive AI response[54](index=54&type=chunk) - Launched data services based on first-hand data for logistics enterprises and other shippers, providing analysis and applications in project management, cost management, capacity operation, and risk management[54](index=54&type=chunk) [Outlook](index=15&type=section&id=%E5%B1%95%E6%9C%9B) The company plans to advance AI, with "Sister Ting" fully managing transport scenarios, expand data services for data-driven business model upgrades, and capitalize on standardized tax regulation in digital freight to accelerate inefficient capacity exit and gain development benefits - AI assistant "Sister Ting" will fully take over transport management scenarios, acting as an intelligent work assistant for shippers, catalyzing three revolutionary industry changes: transparent capacity matching, disintermediated dispatch decisions, and flattened freight power structures[55](index=55&type=chunk) - The company will leverage first-hand data to continuously enrich data service projects, facilitating a data-driven and digitalized business model upgrade[55](index=55&type=chunk) - State Council Decree No. 810 (2025) marks a new phase of standardized tax regulation in the digital freight industry, which will raise compliance thresholds, accelerate the exit of inefficient capacity, and benefit enterprises with full-link digitalization capabilities[56](index=56&type=chunk) [Financial Review](index=16&type=section&id=%E8%B2%A1%E5%8B%99%E5%9B%9E%E9%A1%A7) This section provides a detailed analysis of the company's financial performance, liquidity, and capital structure during the reporting period [Consolidated Income Statement Analysis](index=16&type=section&id=%E7%B6%9C%E5%90%88%E6%90%8D%E7%9B%8A%E5%88%86%E6%9E%90) Total revenue decreased by 7.0% YoY due to lower freight service volume, but gross profit and margin significantly improved by selecting high-value clients and promoting high-margin data services, leading to increased profit for the period and adjusted net profit [Revenue](index=16&type=section&id=%E6%94%B6%E5%85%A5) Total revenue decreased by 7.0% to **RMB 3,030.2 million**, mainly due to lower freight service volume, while freight platform service revenue grew by **33.7%** Revenue Details (For the six months ended June 30) | Item | 2025 (RMB thousands) | 2024 (RMB thousands) | Change (%) | % of Total Revenue (2025) | % of Total Revenue (2024) | | :--- | :--- | :--- | :--- | :--- | :--- | | Freight Service Revenue | 2,825,976 | 3,094,506 | -8.7 | 93.26 | 95.01 | | Freight Platform Service Revenue | 197,871 | 148,037 | +33.7 | 6.53 | 4.54 | | Sales of Goods | 147 | 273 | -46.2 | 0.01 | 0.01 | | Others | 6,156 | 14,348 | -57.1 | 0.20 | 0.44 | | Total | 3,030,150 | 3,257,164 | -7.0 | 100.00 | 100.00 | [Cost of Revenue](index=17&type=section&id=%E7%87%9F%E6%A5%AD%E6%88%90%E6%9C%AC) Cost of revenue decreased by 8.3% to **RMB 2,828.5 million**, primarily due to reduced driver freight costs from lower freight service volume Cost of Revenue (For the six months ended June 30) | Indicator | 2025 (RMB millions) | 2024 (RMB millions) | Change (%) | | :--- | :--- | :--- | :--- | | Cost of Revenue | 2,828.5 | 3,083.0 | -8.3 | [Gross Profit and Gross Margin](index=17&type=section&id=%E6%AF%9B%E5%88%A9%E5%8F%8A%E6%AF%9B%E5%88%A9%E7%8E%87) Gross profit increased by 15.7% to **RMB 201.6 million**, with gross margin rising from **5.35%** to **6.65%**, driven by selecting high-value digital cooperation clients and promoting high-margin data services Gross Profit and Gross Margin (For the six months ended June 30) | Indicator | 2025 (RMB millions) | 2024 (RMB millions) | Change (%) | | :--- | :--- | :--- | :--- | | Gross Profit | 201.6 | 174.2 | +15.7 | | Gross Margin | 6.65% | 5.35% | +1.30pp | [Other Income and Gains](index=17&type=section&id=%E5%85%B6%E4%BB%96%E6%94%B6%E5%85%A5%E5%8F%8A%E6%94%B6%E7%9B%8A) Other income and gains increased by 46.8% to **RMB 11.6 million**, mainly due to higher government grants (excluding those related to digital freight business) Other Income and Gains (For the six months ended June 30) | Indicator | 2025 (RMB millions) | 2024 (RMB millions) | Change (%) | | :--- | :--- | :--- | :--- | | Other Income and Gains | 11.6 | 7.9 | +46.8 | | Of which: Government Grants | 6.6 | 1.2 | +450.0 | [Selling Expenses](index=17&type=section&id=%E9%8A%B7%E5%94%AE%E8%B2%BB%E7%94%A8) Selling expenses decreased by 13.7% to **RMB 37.3 million**, primarily due to reduced staff costs and travel expenses from fewer employees, and lower share-based payments Selling Expenses (For the six months ended June 30) | Indicator | 2025 (RMB millions) | 2024 (RMB millions) | Change (%) | | :--- | :--- | :--- | :--- | | Selling Expenses | 37.3 | 43.2 | -13.7 | [Administrative Expenses](index=18&type=section&id=%E7%AE%A1%E7%90%86%E8%B2%BB%E7%94%A8) Administrative expenses decreased by 3.5% to **RMB 44.2 million**, mainly due to lower share-based payments Administrative Expenses (For the six months ended June 30) | Indicator | 2025 (RMB millions) | 2024 (RMB millions) | Change (%) | | :--- | :--- | :--- | :--- | | Administrative Expenses | 44.2 | 45.8 | -3.5 | [Research and Development Expenses](index=18&type=section&id=%E7%A0%94%E7%99%BC%E9%96%8B%E6%94%AF) R&D expenses increased by 16.4% to **RMB 45.4 million**, primarily due to higher staff costs from an increase in R&D personnel Research and Development Expenses (For the six months ended June 30) | Indicator | 2025 (RMB millions) | 2024 (RMB millions) | Change (%) | | :--- | :--- | :--- | :--- | | R&D Expenses | 45.4 | 39.0 | +16.4 | [Net Impairment Losses on Financial and Contract Assets](index=18&type=section&id=%E9%87%91%E8%9E%8D%E5%8F%8A%E5%90%88%E5%90%8C%E8%B3%87%E7%94%A2%E6%B8%9B%E5%80%BC%E6%B7%A8%E5%80%BC) Impairment losses on financial and contract assets increased from **RMB 6.5 million** to **RMB 12.1 million**, mainly due to impairment losses on trade receivables from customer credit deterioration Net Impairment Losses on Financial and Contract Assets (For the six months ended June 30) | Indicator | 2025 (RMB millions) | 2024 (RMB millions) | Change (%) | | :--- | :--- | :--- | :--- | | Impairment Losses | 12.1 | 6.5 | +86.2 | [Other Expenses](index=18&type=section&id=%E5%85%B6%E4%BB%96%E9%96%8B%E6%94%AF) Other expenses increased by 13.0% to **RMB 20.8 million**, primarily due to higher taxes and surcharges Other Expenses (For the six months ended June 30) | Indicator | 2025 (RMB millions) | 2024 (RMB millions) | Change (%) | | :--- | :--- | :--- | :--- | | Other Expenses | 20.8 | 18.4 | +13.0 | [Finance Costs](index=18&type=section&id=%E8%B2%A1%E5%8B%99%E6%88%90%E6%9C%AC) Finance costs increased by 28.9% to **RMB 4.9 million**, mainly due to higher bill discount charges during the reporting period Finance Costs (For the six months ended June 30) | Indicator | 2025 (RMB millions) | 2024 (RMB millions) | Change (%) | | :--- | :--- | :--- | :--- | | Finance Costs | 4.9 | 3.8 | +28.9 | [Income Tax Expense](index=18&type=section&id=%E6%89%80%E5%BE%97%E7%A8%85%E9%96%8B%E6%94%AF) Income tax expense significantly increased from **RMB 3.4 million** to **RMB 22.3 million**, primarily due to higher taxable profit during the reporting period Income Tax Expense (For the six months ended June 30) | Indicator | 2025 (RMB millions) | 2024 (RMB millions) | Change (%) | | :--- | :--- | :--- | :--- | | Income Tax Expense | 22.3 | 3.4 | +555.9 | [Profit for the Period](index=19&type=section&id=%E6%9C%9F%E5%85%A7%E5%88%A9%E6%BD%A4) Profit attributable to owners of the parent increased by 16.54% to **RMB 28.0 million** Profit Attributable to Owners of the Parent (For the six months ended June 30) | Indicator | 2025 (RMB millions) | 2024 (RMB millions) | Change (%) | | :--- | :--- | :--- | :--- | | Profit Attributable to Owners of the Parent | 28.0 | 24.0 | +16.54 | [Adjusted Net Profit (Non-IFRS)](index=19&type=section&id=%E7%B6%93%E8%AA%BF%E6%95%B4%E6%B7%A8%E5%88%A9%E6%BD%A4) Adjusted net profit (non-IFRS) increased by 7.04% to **RMB 26.8 million**, primarily due to improved gross margin from selecting high-value digital cooperation clients Adjusted Net Profit (Non-IFRS) (For the six months ended June 30) | Indicator | 2025 (RMB millions) | 2024 (RMB millions) | Change (%) | | :--- | :--- | :--- | :--- | | Adjusted Net Profit | 26.8 | 25.0 | +7.04 | | Adjusted Net Profit Attributable to Owners of the Parent | 28.7 | 27.2 | +5.40 | [Liquidity and Capital Structure](index=20&type=section&id=%E6%B5%81%E5%8B%95%E6%80%A7%E8%88%87%E8%B3%87%E6%9C%AC%E7%B5%90%E6%A7%8B) Both current assets and liabilities decreased, but the current ratio improved from 1.30 to 1.44, indicating better liquidity, while interest-bearing borrowings and the gearing ratio significantly decreased, with no major external capital requirements or foreign exchange risks [Current Assets and Liabilities](index=20&type=section&id=%E6%B5%81%E5%8B%95%E8%B3%87%E7%94%A2%E8%88%87%E8%B2%A0%E5%82%B5) As of June 30, 2025, current assets decreased by 18.8% to **RMB 2,118.8 million**, current liabilities decreased by 26.4% to **RMB 1,476.3 million**, and the current ratio improved from **1.30** to **1.44**, indicating improved liquidity Liquidity Indicators (As of June 30, 2025) | Indicator | June 30, 2025 (RMB millions) | December 31, 2024 (RMB millions) | Change (%) | | :--- | :--- | :--- | :--- | | Current Assets | 2,118.8 | 2,610.1 | -18.8 | | Current Liabilities | 1,476.3 | 2,006.5 | -26.4 | | Current Ratio | 1.44 | 1.30 | +10.8% | [Capital Expenditure and Asset Pledges](index=21&type=section&id=%E8%B3%87%E6%9C%AC%E9%96%8B%E6%94%AF%E8%88%87%E8%B3%87%E7%94%A2%E6%8A%B5%E6%8A%BC) Capital expenditure for the period was approximately **RMB 0.9 million**, mainly for property, plant, and equipment and intangible assets, funded primarily by operating cash flow, with no assets pledged as of June 30, 2025 - Capital expenditure for the reporting period was approximately **RMB 0.9 million**, primarily for the purchase of property, plant, and equipment and intangible assets[78](index=78&type=chunk) - As of June 30, 2025, the Group had not pledged any assets as collateral for bank borrowings or any other financing activities[79](index=79&type=chunk) [Borrowings and Gearing Ratio](index=21&type=section&id=%E5%80%9F%E6%AC%BE%E8%88%87%E8%B3%87%E6%9C%AC%E8%B2%A0%E5%82%B5%E6%AF%94%E7%8E%87) As of June 30, 2025, interest-bearing bank and other borrowings decreased to **RMB 197.3 million**, and the gearing ratio fell from **44.6%** to **29.8%**, indicating reduced financial leverage Borrowings and Gearing Ratio (As of June 30, 2025) | Indicator | June 30, 2025 (RMB millions) | December 31, 2024 (RMB millions) | Change (%) | | :--- | :--- | :--- | :--- | | Interest-bearing Bank and Other Borrowings | 197.3 | 290.7 | -32.1 | | Gearing Ratio | 29.8% | 44.6% | -14.8pp | [Exchange Rate Fluctuation Risk](index=22&type=section&id=%E5%BD%99%E7%8E%87%E6%B3%A2%E5%8B%95%E9%A2%A8%E9%9A%AA) The company's operations are primarily in China, with most transactions settled in RMB, posing no significant foreign exchange risk, and no derivative or hedging activities were undertaken during the period - The Group's business operations are primarily conducted in China, with most transactions settled in RMB, posing no significant foreign exchange risk[84](index=84&type=chunk) - During the reporting period, the Group did not engage in any derivative activities or hedging activities for foreign exchange risk[84](index=84&type=chunk) [Material Transactions and Future Plans](index=21&type=section&id=%E9%87%8D%E5%A4%A7%E4%BA%A4%E6%98%93%E8%88%87%E6%9C%AA%E4%BE%86%E8%A8%88%E5%8A%83) The company did not undertake any material acquisitions or disposals of subsidiaries, associates, or joint ventures, nor does it have other significant future plans for investments and capital assets during the reporting period [Material Acquisitions and Disposals of Subsidiaries, Associates, and Joint Ventures](index=21&type=section&id=%E9%99%84%E5%B1%AC%E5%85%AC%E5%8F%B8%E3%80%81%E8%81%AF%E7%87%9F%E5%85%AC%E5%8F%B8%E5%8F%8A%E5%90%88%E7%87%9F%E4%BC%81%E6%A5%AD%E7%9A%84%E9%87%8D%E5%A4%A7%E6%94%B6%E8%B3%BC%E5%8F%8A%E5%87%BA%E5%94%AE) For the six months ended June 30, 2025, the company did not make any material acquisitions or disposals of subsidiaries, associates, or joint ventures - For the six months ended June 30, 2025, the Group did not make any material acquisitions or disposals of subsidiaries, associates, and joint ventures[82](index=82&type=chunk) [Future Plans for Material Investments and Capital Assets](index=21&type=section&id=%E9%87%8D%E5%A4%A7%E6%8A%95%E8%B3%87%E5%92%8C%E8%B3%87%E6%9C%AC%E8%B3%87%E7%94%A2%E4%B9%8B%E6%9C%AA%E4%BE%86%E8%A8%88%E5%8A%83) Except as disclosed in this announcement, as of June 30, 2025, the company has no future plans for material investments and capital assets - Except as disclosed in this announcement, as of June 30, 2025, the Group has no plans for material investments and capital assets[83](index=83&type=chunk) [Corporate Governance and Others](index=23&type=section&id=%E5%85%AC%E5%8F%B8%E6%B2%BB%E7%90%86%E8%88%87%E5%85%B6%E4%BB%96) This section covers significant corporate events, employee policies, use of proceeds, and adherence to corporate governance standards [Material Events During the Reporting Period](index=23&type=section&id=%E5%A0%B1%E5%91%8A%E6%9C%9F%E5%85%A7%E9%87%8D%E5%A4%A7%E4%BA%8B%E4%BB%B6) During the reporting period, Mr. Fu Da resigned as non-executive director, the Nomination Committee composition changed, Mr. Long Ke was appointed executive director, amendments to the Articles of Association were approved, and the principal place of business in Hong Kong changed - Mr. Fu Da, a non-executive director, resigned, effective March 28, 2025[87](index=87&type=chunk) - Ms. Wang Yao, a non-executive director, and Mr. Li Dong, an independent non-executive director, were appointed as members of the Nomination Committee, effective March 28, 2025[88](index=88&type=chunk) - Mr. Long Ke was appointed as an executive director of the Fifth Board of Directors, effective June 10, 2025[89](index=89&type=chunk) - Amendments to the Articles of Association were approved at the annual general meeting and class meetings held on June 10, 2025, and became effective on the same day[90](index=90&type=chunk) - The company's principal place of business in Hong Kong changed effective January 10, 2025[91](index=91&type=chunk) [Material Events After the Reporting Period](index=24&type=section&id=%E5%A0%B1%E5%91%8A%E6%9C%9F%E5%BE%8C%E9%87%8D%E5%A4%A7%E4%BA%8B%E4%BB%B6) Except as disclosed, as of the announcement date, the company is unaware of any material post-reporting period events that could significantly impact its operations and financial performance - Except as disclosed in this announcement, the Group is not aware of any material events that could significantly impact our operations and financial performance for the period from June 30, 2025, to the date of this announcement[92](index=92&type=chunk) [Employees and Remuneration Policy](index=24&type=section&id=%E5%83%B1%E5%93%A1%E5%8F%8A%E8%96%AA%E9%85%AC%E6%94%BF%E7%AD%96) As of June 30, 2025, the company had 859 full-time employees in China, offering competitive remuneration including base salary, performance bonuses, social security, and commercial insurance, alongside equity incentive plans and customized training to attract and motivate talent - As of June 30, 2025, the company had **859** full-time employees, all located in China[93](index=93&type=chunk) - Remuneration typically includes base salary and performance bonuses, with benefits such as pension plans and medical insurance, and an equity incentive plan[93](index=93&type=chunk) - The company provides tailored online and offline training courses based on the needs of employees in different functions, covering corporate culture, internal rules, professional knowledge, and leadership skills[94](index=94&type=chunk) [Use of Proceeds](index=25&type=section&id=%E6%89%80%E5%BE%97%E6%AC%BE%E9%A0%85%E7%94%A8%E9%80%94) The net proceeds from the global offering were approximately **HKD 63.1 million**, with about **HKD 29.9 million (47.4%)** utilized as of June 30, 2025, consistent with the prospectus, with no intention to change the planned uses - The net proceeds from the global offering (after deducting underwriting commissions and related costs and expenses) were approximately **HKD 63.1 million**[95](index=95&type=chunk) - As of June 30, 2025, the company had utilized approximately **HKD 29.9 million** of the net proceeds from the global offering for the intended purposes as stated in the prospectus, accounting for approximately **47.4%** of the total[95](index=95&type=chunk) - The company has no intention to change the use of proceeds from the global offering as stated in the prospectus and will gradually apply the net proceeds to the intended uses[99](index=99&type=chunk) Details of Use of Net Proceeds from Global Offering (As of June 30, 2025) | Use | Allocation in Prospectus (%) | Estimated Net Proceeds in Prospectus (HKD millions) | Allocated Net Proceeds from Global Offering (HKD millions) | Utilized as of December 31, 2024 (HKD millions) | Utilized for the six months ended June 30, 2025 (HKD millions) | Unutilized as of June 30, 2025 (HKD millions) | | :--- | :--- | :--- | :--- | :--- | :--- | :--- | | Further upgrade and strengthen digital freight business | 45.0% | 34.2 | 28.4 | 5.8 | 2.5 | 20.1 | | (i) Acquire more freight service and freight platform service customers | 15.0% | 11.4 | 9.5 | 1.6 | 0.8 | 7.1 | | (ii) Increase penetration among existing customer base | 15.0% | 11.4 | 9.5 | 3.1 | 1.0 | 5.4 | | (iii) Enhance participation of other ecosystem participants | 15.0% | 11.4 | 9.4 | 1.1 | 0.7 | 7.6 | | Further expand Trucker Community and Kaja Car Services | 15.0% | 11.4 | 9.5 | 2.3 | 1.1 | 6.1 | | Explore and enhance commercialization of Trucker Community | 7.5% | 5.7 | 4.7 | 0.9 | 0.6 | 3.2 | | Establish and maintain Kaja Car Services authorized store network | 5.0% | 3.8 | 3.2 | 0.7 | 0.3 | 2.2 | | Strengthen Kaja Car Services supply chain system | 2.5% | 1.9 | 1.6 | 0.7 | 0.2 | 0.7 | | Enhance R&D efforts and strengthen technological capabilities | 20.0% | 15.2 | 12.6 | 9.8 | 1.4 | 1.4 | | Strengthen technological advantages in big data | 15.0% | 11.4 | 9.4 | 6.6 | 1.4 | 1.4 | | Improve existing R&D capabilities in high-tech fields | 5.0% | 3.8 | 3.2 | 3.2 | 0.0 | 0.0 | | Recruit additional sales, marketing, and operations personnel | 10.0% | 7.6 | 6.3 | 3.0 | 0.8 | 2.5 | | Working capital and other general corporate purposes | 10.0% | 7.6 | 6.3 | 2.5 | 0.7 | 3.1 | [Interim Dividend](index=27&type=section&id=%E4%B8%AD%E6%9C%9F%E8%82%A1%E6%81%AF) The Board of Directors resolved not to recommend the payment of an interim dividend for the six months ended June 30, 2025 - The Board of Directors resolved not to recommend the payment of an interim dividend for the six months ended June 30, 2025[100](index=100&type=chunk) [Corporate Governance](index=47&type=section&id=%E4%BC%81%E6%A5%AD%E7%AE%A1%E6%B2%BB) The company maintains high corporate governance standards, complying with the CG Code and Model Code, with a highly independent Board, and no material litigation, arbitration, or claims during the reporting period - The company has adopted and complied with all principles and applicable code provisions under Part 2 of the Corporate Governance Code throughout the reporting period[155](index=155&type=chunk) - The Board currently comprises four executive directors, two non-executive directors, and three independent non-executive directors, demonstrating a high degree of independence[155](index=155&type=chunk) - Directors and supervisors have complied with the required standards for securities transactions as set out in the Model Code throughout the reporting period[157](index=157&type=chunk) - During the reporting period, no member of the Group was involved in any material litigation, arbitration, or claims[159](index=159&type=chunk) [Audit Committee](index=48&type=section&id=%E5%AF%A9%E6%A0%B8%E5%A7%94%E5%93%A1%E6%9C%83) The Audit Committee, composed of three independent non-executive directors, reviewed and confirmed the unaudited interim consolidated results for the six months ended June 30, 2025, finding them compliant with accounting standards and regulations, with appropriate disclosures - The Audit Committee comprises three independent non-executive directors: Mr. Li Dong (Chairman), Mr. Liu Xiaofeng, and Mr. Dai Dingyi[160](index=160&type=chunk) - The Audit Committee reviewed the interim consolidated results, found no disagreement with management, and confirmed compliance with applicable accounting principles, standards, and requirements, with sufficient disclosures[160](index=160&type=chunk) [Definitions](index=48&type=section&id=%E9%87%8B%E7%BE%A9) This section provides definitions for key terms and abbreviations used in the report, ensuring accuracy and consistency in understanding information related to the company, business, finance, and governance

香 港 交 易 及 結 算 所 有 限 公 司 及 香 港 聯 合 交 易 所 有 限 公 司 對 本 公 告 的 內 容 概 不 負 責，對其準確性或完整性亦不發表任何聲明，並明確表示，概不對因本公告全部 或任何部分內容而產生或因倚賴該等內容而引致的任何損失承擔任何責任。 Logory Logistics Technology Co., Ltd. 合 肥 維 天 運 通 信 息 科 技 股 份 有 限 公 司 （於中華人民共和國註冊成立的股份有限公司） （股份代號：2482） 董事會會議通知 合肥維天運通信息科技股份有限公司（「本公司」）董事（「董事」）會（「董事會」）謹此 宣佈，董事會會議將於2025年8月28日（ 星期四 ）舉行，並將於會上（ 其中包括 ）考 慮 及 批 准 本 公 司 及 其 附 屬 公 司 截 至 2025 年 6 月 30 日 止 六 個 月 之 中 期 業 績 及 其 發 佈，及考慮派付中期股息（ 如有 ）。 承董事會命 合肥維天運通信息科技股份有限公司 董事長兼執行董事 馮雷 中華人民共和國合肥市 2025年8月18日 於 本 公 告 日 期 ， 董 事 會 包 括 執 行 董 ...