香港交易及結算所有限公司及香港聯合交易所有限公司（「聯交所」）對本公告之內容概不負責，對其準確性或完整 性亦不發表任何聲明，並明確表示概不就因本公告全部或任何部份內容而產生或因倚賴該等內容而引致之任何損 失承擔任何責任。 天津濱海泰達物流集團股份有限公司 Tianjin Binhai Teda Logistics (Group) Corporation Limited* （於中華人民共和國註冊成立之股份有限公司） （股份代號：8348） 截至二零二五年六月三十日止六個月的 中期業績公告 天津濱海泰達物流集團股份有限公司（「本公司」）董事（「董事」）會（「董事會」）欣然宣佈本公司 及其附屬公司截至二零二五年六月三十日止六個月的未經審核簡明合併財務業績。本公告載列 本公司二零二五年中期報告（「中期報告」）全文，並遵守聯交所GEM（「GEM」）證券上市規則 （「GEM上市規則」）中有關中期業績初步公告隨附資料的相關規定。中期報告的印刷版本將適 時寄發予本公司股東，並可於聯交所網站www.hkexnews.hk及本公司網站www.tbtl.cn閱覽。 承董事會命 天津濱海泰達物流集團股份有限公司 主席 楊衛紅 中國， ...

天津濱海泰達物流集團股份有限公司 Tianjin Binhai Teda Logistics (Group) Corporation Limited * （於中華人民共和國註冊成立之股份有限公司） 天津濱海泰達物流集團股份有限公司董事會（「董事會」）成員列示如下： 執行董事 楊衛紅先生 （董事會主席） 馬欣女士 非執行董事 獨立非執行董事 李健先生 程新生教授 （股份代號：8348） 董事會成員名單與其角色及職能 「M」 指相應專門委員會的委員 中國，天津 二零二五年八月二十日 * 僅供識別 孟隽女士 何勇軍先生 胡姍姍女士 羅文鈺教授 彭作文先生 董事會設立了三個專門委員會，下表載列各董事在該等委員會中所擔任的職位資料： | | 委員會 | 提名委員會 | 薪酬委員會 | 審核委員會 | | --- | --- | --- | --- | --- | | 董事 | | | | | | 楊衛紅先生 | | C | | | | 馬欣女士 | | M | | | | 李健先生 | | | | | | 孟隽女士 | | | | | | 胡姍姍女士 | | | | | | 程新生教授 | | | M | C | | ...

香港交易及結算所有限公司及香港聯合交易所有限公司 ( 「聯交所」 ) 對本公告之內容概不 負責，對其準確性或完整性亦不發表任何聲明，並明確表示概不就因本公告全部或任何部 份內容而産生或因倚賴該等內容而引致之任何損失承擔任何責任。 董事會宣佈： （1）孫靜女士辭任非執行董事職務，自董事會通過委任胡姍姍女士爲新非執行董事的議 案後生效。 天津濱海泰達物流集團股份有限公司 Tianjin Binhai Teda Logistics (Group) Corporation Limited * （於中華人民共和國註冊成立之股份有限公司） （股份代號：8348） （1）非執行董事辭任 及 （2）委任非執行董事 本公司股東（「股東」）及/或聯交所垂注。 董事會謹藉此機會對孫女士在其任期內爲本公司發展作出的寶貴貢獻表示衷心的感謝。 （2）胡姍姍女士獲委任為非執行董事，自二零二五年八月二十日舉行的董事會上通過相 關委任議案後生效，其任期只至下屆股東周年大會時間爲止，胡姍姍女士屆時有資格連選 連任。 天津濱海泰達物流集團股份有限公司（「本公司」，連同其附屬公司，統稱「本集團」）董 事（「董事」）會（「董事會」）謹此宣佈董事會組成 ...

（股份代號：8348） 董事會會議通告 天津濱海泰達物流集團股份有限公司(「本公司」)董事(「董事」)會（「董事會」）謹 此宣佈，董事會會議將於二零二五年八月二十日（星期三）上午九時，假座中華人民共 和國（「中國」）天津經濟技術開發區渤海路 39 號本公司會議室舉行，以處理下列事項： 香港交易及結算所有限公司及香港聯合交易所有限公司(「聯交所」)對本通告之內容概 不負責，對其準確性或完整性亦不發表任何聲明，並明確表示概不就因本通告全部或任 何部份內容而產生或因倚賴該等內容而引致之任何損失承擔任何責任。 天津濱海泰達物流集團股份有限公司 Tianjin Binhai Teda Logistics (Group) Corporation Limited * （於中華人民共和國註冊成立之股份有限公司） -1- 1. 考慮及批准本公司截至二零二五年六月三十日止六個月之未經審核中期業績，並批准 將於聯交所網站及本公司網站刊載的中期業績公告草稿及中期業績報告草稿； 2. 考慮派發中期股息（如有）事宜；及 3. 處理任何其他事項（如有）。 於本通告日期，董事會包括執行董事楊衛紅先生及馬欣女士；非執行董事李健先生、孟 隽女士 ...

Tianjin Binhai Teda Logistics (Group) Corporation Limited * 香港交易及結算所有限公司及香港聯合交易所有限公司(「聯交所」)對本公告之內容概 不負責，對其準確性或完整性亦不發表任何聲明，並明確表示概不就因本公告全部或任 何部份內容而產生或因倚賴該等內容而引致之任何損失承擔任何責任。 天津濱海泰達物流集團股份有限公司 （於中華人民共和國註冊成立之股份有限公司） （股份代號：8348） (1) 於二零二五年八月五日舉行之股東特別大會之投票表決結果；及 (2) 與建議設立基金有關的須予披露及關連交易之進展 茲提述天津濱海泰達物流集團股份有限公司（「本公司」）於二零二五年七月十七日發 出之股東特別大會（「股東特別大會」）通告（「通告」）及通函（「通函」）。除非 另有註明，本公告所用詞彙與通告及通函所界定者具相同涵義。 股東特別大會之投票表決結果 股東特別大會於二零二五年八月五日（星期二）上午九時假座於中華人民共和國天津市 天津經濟技術開發區渤海路 39 號舉行。 於股東特別大會日期，本公司已發行股本為354,312,000股每股面值人民幣 1.00元之股份， ...

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 | 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) | 08348 | 說明 | H股 | | | | | | | | | 法定/註冊股份數目 | | | 面值 | | 法定/註冊股本 | | | 上月底結存 | | | 354,312,000 | RMB | | 1 RMB | | 354,312,000 | | 增加 / 減少 (-) | | | | | | RMB | | | | 本月底結存 | | | 354,312,000 | RMB | | 1 RMB | | 354,312,000 | 本月底法定/註冊股本總額： RMB 354,312,000 致：香港交易及結算所有限公司 公司名稱: 天津濱海泰達物流集團股份有限公司(於中華人民共和國註冊成立之股份有限公司) 呈交日期: 2025年8月1日 I. 法定/註冊股本變動 截至月 ...

Company Overview - Tianjin Binhai Teda Logistics Group Co., Ltd. (TBTL) was restructured in June 2006 and listed on the Hong Kong Stock Exchange on April 30, 2008, with stock code HK08348. The registered capital is 354 million RMB, and the annual revenue is approximately 3 billion RMB [3]. - The company is a state-controlled, comprehensive logistics leader listed overseas (in Hong Kong) and is recognized as a national AAAA-level comprehensive service logistics enterprise [3]. Financial Performance - As of December 31, 2024, TBTL reported total revenue of 3.71 billion RMB, reflecting a year-on-year growth of 1.66%. However, the net profit attributable to shareholders was 5.898 million RMB, a significant decrease of 80.19% year-on-year [2][4]. - The gross profit margin stands at 0.77%, and the debt-to-asset ratio is 45.21% [2]. Stock Performance - As of March 28, the stock price of TBTL was 0.475 HKD per share, marking an increase of 7.95% with a trading volume of 2,000 shares and a turnover of 950 HKD [1]. - Over the past month, TBTL has experienced a cumulative decline of 12%, while year-to-date, it has seen a cumulative increase of 4.76%, underperforming the Hang Seng Index by 17.54% [2]. Valuation Metrics - Currently, there are no institutional investment ratings for TBTL. The company's price-to-earnings (P/E) ratio is 24.48, ranking 24th in its industry, while the average P/E ratio for the industrial support sector is 1.8, with a median of 5.12 [3].

Financial Performance - The Group's consolidated results summary for the five accounting years ended December 31, 2024, is prepared in accordance with International Financial Reporting Standards[16] - The Group's financial summary is detailed in the report, indicating the overall performance and financial health of the Company[15] - The Group's operating income for the year ended December 31, 2024, was approximately RMB3,710,357,000, representing an increase of approximately 1.66% compared to RMB3,649,930,000 in 2023[22] - Profit attributable to equity holders of the Company decreased to approximately RMB5,898,000 in 2024 from RMB29,778,000 in 2023, indicating a decline of approximately 80.2%[22] - Total comprehensive income attributable to equity holders of the Company was approximately RMB4,905,000 in 2024, down from RMB23,794,000 in 2023[22] - Basic earnings per share were approximately RMB0.02 in 2024, compared to RMB0.08 in 2023, reflecting a decrease of 75%[22] - As of December 31, 2024, total assets were approximately RMB1,792,941,000, a decrease of RMB27,847,000 from RMB1,820,788,000 in 2023[23] - Current assets increased to approximately RMB893,878,000 in 2024, up by RMB68,915,000 from RMB824,963,000 in 2023[23] - Non-current liabilities decreased to RMB59,682,000 in 2024 from RMB109,307,000 in 2023, a reduction of approximately 45.5%[20] - For the year ended 31 December 2024, total profit decreased by RMB25,294,000 or 83.31% to RMB5,068,000 compared to RMB30,362,000 in the previous year[85] - Profit attributable to equity holders decreased by RMB23,901,000 or 80.19% to RMB5,898,000 from RMB29,778,000 in the previous year[85] - Total comprehensive income attributable to equity holders was RMB4,905,000, down by RMB18,889,000 or 79.39% compared to RMB23,794,000 in the previous year[85] Operational Insights - The Group's management discussion and analysis section provides insights into operational strategies and market conditions[15] - The logistics industry faced significant challenges due to structural overcapacity and declining demand, impacting the Group's performance in automotive and electronic component logistics sectors[28] - The warehousing and multimodal transport segment maintained robust operational volumes, particularly in railway commodity vehicles, enhancing operating performance[30] - The Group implemented strategic measures to navigate market challenges, focusing on cost control and expanding new business opportunities[30] - The supply chain and logistics services for finished automobiles and components accounted for 30.4% of the operating income, with an operating income of approximately RMB1,126,897,000, representing a decrease of 7.79% compared to the previous year[51][53] - The material procurement services segment accounted for 68.2% of the operating income, indicating a strong reliance on this area for revenue generation[51] - The Group's operating results for supply chain and logistics services for finished automobiles and components decreased by 96.65% to approximately RMB618,000 due to intensified market competition and reduced production by customers[53] - Management expenses have been continuously reduced, with a commitment to achieving annual cost reduction targets through strict budget planning and process management[35] - The Group is focusing on enhancing the profitability of existing businesses and improving operational efficiency in the logistics sector[41] - The establishment of a warehousing and multimodal transportation center aims to optimize resource allocation and enhance business expansion efforts[35] - The Group plans to leverage external professional teams to identify new business growth opportunities and adapt to evolving market conditions[34][37] - The supply chain and logistics services for electronic components are operated through a joint venture, contributing to investment income[52] Governance and Compliance - The Directors confirm that the information contained in the report is accurate and complete in all material respects[4] - The Company is committed to transparency and compliance with the GEM Listing Rules[4] - The Group adheres to the "Environmental, Social and Governance Reporting Guide" to ensure alignment with sustainability performance and stakeholder expectations[125] - The Board is responsible for overseeing the Group's sustainability strategy and holds annual meetings to review ESG-related risks and opportunities[133] - The Group emphasizes transparency and balance in its reporting, highlighting both achievements and areas for improvement in sustainability performance for 2024[127] - The Group's governance structure integrates ESG management into business operations and decision-making processes[135] - The Group is committed to fulfilling tax obligations and complying with local laws and regulations as part of its governance strategy[159] Environmental Initiatives - The Group has committed to responding to environmental protection initiatives, including carbon neutrality goals set by the Chinese government[124] - The Group aims to control energy consumption per thousand square meters and reduce dependence on resource consumption, recognizing energy use as a significant environmental impact[143] - The Group is committed to improving energy efficiency by increasing the proportion of new energy operational vehicles and exploring renewable fuels to reduce carbon emissions[150] - The Group's GHG emissions per thousand square meters are targeted to be maintained or reduced from a baseline of 14.3 tons CO2 equivalent[187] - The total energy consumption per thousand square meters is set to be maintained or reduced from a baseline of 36.6 MWh[187] - The Group has established environmental targets to be achieved by December 31, 2027, based on 2022 as the baseline year[186] - The Group has complied with all applicable environmental protection laws and regulations in 2024, with no significant violations reported[188] - The Group's air emissions for sulfur oxides are at a baseline of 0.03 kg per thousand square meters, with a goal to maintain or reduce this level[187] - The Group's non-hazardous waste discharge is targeted to be maintained or reduced from a baseline of 0.5 tons per thousand square meters[187] - The Group's non-hazardous wastewater is estimated at 84.5 m³ per thousand square meters, with performance to be monitored based on water consumption[187] - The Group actively seeks stakeholder feedback on its ESG approach and performance[178] - The Group's environmental initiatives focus on reducing air and greenhouse gas emissions, waste treatment, and resource consumption[168] Employee and Stakeholder Engagement - The Group had a total of 971 employees, down from 1,079 employees in the previous year[109] - The Group emphasizes the importance of stakeholder engagement for long-term success, conducting regular dialogues to understand expectations and advance sustainable development[157] - The Group identified four key ESG issues of significance: safety of goods, occupational health and safety, employee remuneration and benefits, and resources consumption[168] - The Group aligns its business and sustainability priorities with the United Nations Sustainable Development Goals (SDGs), identifying SDGs 3, 9, and 13 as most relevant to its sustainability agenda[170] - The Group's communication channels with stakeholders include regular reports, meetings, and satisfaction surveys to address their expectations and concerns[159] - The Group aims to enhance production and service quality while protecting customer privacy and rights through various communication methods[161] - The Group's strategies include fair procurement practices and fostering long-term relationships with suppliers[161] Waste Management and Emissions - The Group's total GHG emissions decreased by about 54% compared to 2023, primarily due to reduced diesel and gasoline consumption[193] - Air emissions of NOX decreased from 17,179.1 kg in 2023 to 11,689.3 kg in 2024, while PM emissions dropped from 1,237.2 kg to 849.4 kg[190] - The total GHG emissions for Scope 1 (direct emissions) were 1,924.8 tCO2e in 2024, down from 3,393.7 tCO2e in 2023[190] - Wastewater discharge decreased by approximately 44% compared to 2023, with a total of 15,870.8 m³ in 2024[198] - The Group's non-hazardous general household waste was 455.1 tonnes in 2024, down from 648.5 tonnes in 2023[190] - The Group's solid waste mainly consisted of general household waste and a small amount of hazardous solid waste from daily operations[200] - The Group's hazardous waste was properly handled according to internal procedures and qualified third parties were assigned for collection and disposal[200] - The Group embraces the "3R Principle – Reduce, Reuse and Recycle" in its operations[200] - The non-hazardous waste generated was collected and disposed of by a professional third party after classification[200] - The Group has installed professional containers for grease separation to manage wastewater and prevent contamination[199] - The intensity of GHG emissions for Scope 2 (energy indirect emissions) was 1,912.0 tCO2e in 2024, significantly lower than 5,128.4 tCO2e in 2023[190] - The Group has encouraged employees to reduce unnecessary business air travel, promoting online communication to lower GHG emissions[194]

Financial Performance - Tianjin Binhai Teda Logistics reported its audited consolidated financial performance for the year ending December 31, 2024[2]. - The Group's operating income for the year ended December 31, 2024, was approximately RMB 3,710,357,000, representing an increase of approximately 1.66% compared to RMB 3,649,930,000 in 2023[27]. - Profit attributable to equity holders of the Company for the year was approximately RMB 5,898,000, a decrease from RMB 29,778,000 in 2023[27]. - Total comprehensive income attributable to equity holders of the Company was approximately RMB 4,905,000, down from RMB 23,794,000 in 2023[27]. - Basic earnings per share were approximately RMB 0.02, compared to RMB 0.08 in 2023[27]. - As of December 31, 2024, total assets were approximately RMB 1,792,941,000, a decrease from RMB 1,820,788,000 in 2023[28]. - Current assets increased to approximately RMB 893,878,000 from RMB 824,963,000 in 2023, representing an increase of RMB 68,915,000[28]. - Net assets attributable to the parent company were approximately RMB 885,098,000, slightly down from RMB 887,279,000 in 2023[28]. - The Group's total profit for the year ended 31 December 2024 was RMB 5,068,000, a decrease of RMB 25,294,000 or 83.31% compared to RMB 30,362,000 in the previous year[90]. - Profit attributable to equity holders of the Company was RMB 5,898,000, down by RMB 23,901,000 or 80.19% from RMB 29,778,000 in the corresponding period last year[90]. - Total comprehensive income attributable to equity holders decreased to RMB 4,905,000, a decline of RMB 18,889,000 or 79.39% compared to RMB 23,794,000 in the previous year[90]. Governance and Corporate Structure - The board of directors collectively accepts full responsibility for the accuracy and completeness of the information in the report[9]. - The company has a structured governance framework with various committees overseeing audit, remuneration, and nominations[14]. - The Group is committed to transparency and has established a comprehensive corporate governance report[11]. - The Board proposed a final dividend of RMB 0.03 per share for the year ended 31 December 2024, totaling an estimated distribution of RMB 10,629,360[91]. - The Group had a total of 971 employees as of 31 December 2024, a decrease from 1,079 employees as of 31 December 2023[114]. - The Group's employee remuneration policy is based on market rates, individual performance, and experience, with discretionary bonuses awarded for contributions[119][121]. Market Challenges and Strategic Responses - The logistics industry faced challenges due to structural overcapacity and intensified competition, impacting the Group's performance in automotive and electronic component logistics sectors[33]. - The Group implemented strategic measures to enhance cost efficiency and navigate market challenges amid declining demand and service prices[33]. - The overall annual performance of the Group experienced a significant downturn compared to the previous year due to external pressures and internal challenges[33]. - The logistics industry faced significant challenges in 2024, with a notable decline in performance in the automotive logistics and electronic components logistics segments, leading to a substantial decrease in overall annual performance compared to the previous year[34]. - The supply chain and logistics services for finished automobiles and components segment experienced severe challenges, including declining customer output and business losses due to cost reductions, prompting a focus on cost control and new business opportunities[36]. - The Group successfully divested its equity interest in Tedahang Cold Chain Logistics Co., Ltd., exiting the Tianjin frozen warehousing market, while continuing to monitor cold chain logistics development opportunities[38]. - The Group is actively exploring adjustments to the Teda Industrial Park project to adapt to evolving market conditions and support future high-quality development[39]. - The Group aims to enhance profitability in its core logistics business by improving operational efficiency and aligning with national initiatives like the "Belt and Road" strategy[46]. - The Group plans to establish new growth drivers by leveraging resources from shareholders and industry associations to identify new business opportunities[47]. Environmental, Social, and Governance (ESG) Commitment - The company emphasizes the importance of environmental, social, and governance (ESG) factors in its operations[11]. - The Group's approach to sustainability includes measurable key performance indicators (KPIs) to assess its performance in ESG areas[131][134]. - The Group aims for transparency in its reporting, highlighting both achievements and areas for improvement in sustainability performance for 2024[132][135]. - The Group is committed to achieving stable operations while navigating the complexities of the international economic landscape and domestic uncertainties[45]. - The Group's focus for 2025 includes strengthening market competitiveness and advancing high-quality development in its core business operations[53]. - The Group has established an independent governance structure to ensure ESG governance aligns with its business strategy and integrates ESG management into operations and decision-making[138]. - The Board is responsible for all ESG-related issues and policies, holding at least one meeting annually to review materiality, risks, and opportunities related to ESG[140]. - The Group has set internal ESG KPIs to minimize negative environmental impacts, including electricity and fuel consumption per thousand square meters, which are monitored by the Board[149]. - The Group is committed to controlling energy consumption per thousand square meters and reducing dependence on resource consumption in logistics operations[148]. - The ESG Working Group is tasked with executing and monitoring ESG-related work across business units, reporting results to the Board at least once a year[142]. - The Group prioritizes government support and environmental impacts when developing long-term business strategies[144]. - The Group is committed to reducing energy consumption and GHG emissions by optimizing transportation plans and improving transportation technology[181]. - The Group has set new environmental targets to be achieved by December 31, 2027, based on 2022 as the base year[189]. - The Group identifies Sustainable Development Goals 3, 9, and 13 as relevant to its sustainability agenda[175]. - The Group has formulated the "Emergency Management Measures" to enhance risk management related to climate change[182]. - The Group emphasizes the importance of green operations for creating long-term value for the community[188]. - The Group has identified four key ESG issues: safety of goods, occupational health and safety, employee remuneration and benefits, and resources consumption[173]. - The Group conducts regular evaluations of its stakeholders' opinions on sustainability to align its business priorities with stakeholder expectations[174]. - The Group encourages stakeholder feedback on its ESG approach and performance[183]. Operational Metrics and Performance - The overall gross profit margin for the Group was 0.77%, which is 0.90 percentage points lower than the previous year, primarily due to lower gross profit from logistics services for finished automobiles[72]. - The cost of sales for the Group was RMB 3,682 million, an increase of RMB 93 million or 2.59% compared to RMB 3,589 million in the previous year[72]. - The Group's administrative expenses for 2024 were RMB 43,973,000, a decrease of RMB 8,463,000 or 16.14% compared to RMB 52,436,000 in the previous year[73]. - The supply chain and logistics services for electronic components recorded a net operating profit of approximately RMB 28,266,000, with investment income of approximately RMB 13,850,000, a decrease of RMB 9,483,000 or 40.64% compared to the previous year[70]. - The operating results from the materials procurement services amounted to approximately RMB 377,000, a decrease of RMB 3,148,000 or 89.30% compared to the previous year[63]. - The warehouse and multimodal transport business services recorded an operating income of approximately RMB 41,718,000, a decrease of RMB 21,267,000 or 33.77% compared to the previous year, while operating results increased by 129.06%[64]. - Other services recorded an operating income of approximately RMB 12,690,000, a decrease of RMB 2,318,000 or 15.45%, with operating results showing a loss increase of approximately RMB 6,351,000 or 974.08%[65]. - The Group's finance costs for 2024 were RMB 19,610,000, representing a decrease of RMB 1,729,000 or 8.10% from RMB 21,339,000 in the same period last year[79]. - The share of results of joint ventures and associates was RMB 5,557,000, a decrease of RMB 21,035,000 or 79.29% compared to RMB 26,592,000 in the previous year[82]. - The Group disposed of 60% equity interest in its joint venture, Tedahang, for a gain of RMB 24,124,000 during the reporting period[83]. - As of 31 December 2024, the balance of borrowings was RMB 260,119,000, down from RMB 351,909,000 as of 31 December 2023[94]. - The gearing ratio as of 31 December 2024 was 32%, a decrease from 39% as of 31 December 2023[100]. Environmental Performance - In 2024, the total GHG emissions (Scope 1, 2 & 3) amounted to 3,934.7 tCO2e, with an intensity of 5.8 tCO2e/'000 m2, a reduction from 8,626.0 tCO2e and 10.5 tCO2e/'000 m2 in 2023[195]. - Air emissions for SOX decreased to 11.7 kg/'000 m2 in 2024 from 20.4 kg/'000 m2 in 2023, while NOX emissions were 11,689.3 kg/'000 m2 compared to 17,179.1 kg/'000 m2 in the previous year[195]. - The total energy consumption per thousand square meters was maintained at 36.6 MWh/'000 m2, consistent with the previous year's performance[192]. - Non-hazardous wastewater discharge was reported at 15,870.8 m3, with an intensity of 23.4 m3/'000 m2, down from 28,510.4 m3 and 34.8 m3/'000 m2 in 2023[195]. - Non-hazardous waste discharge was recorded at 455.1 tonnes, with an intensity of 0.7 tonnes/'000 m2, a decrease from 648.5 tonnes and 0.8 tonnes/'000 m2 in 2023[195]. - The total floor area of the Group in operation decreased to approximately 678,156.7 m2 in 2024 from 820,347.9 m2 in 2023, impacting intensity calculations[196]. - The Group's hazardous waste generation was reported at 1.2 tonnes, with an intensity of 1.8×10^-3 tonnes/'000 m2, down from 5.1 tonnes and 6.2×10^-3 tonnes/'000 m2 in 2023[195]. - The Group aims to maintain or reduce air emissions and energy consumption per thousand square meters in future operations[192]. - The Group's environmental performance metrics are aligned with national and international reporting standards, ensuring transparency and accountability[196]. - The Group's total air emissions decreased in 2024 compared to 2023[197]. - The Group's total GHG emissions decreased by approximately 54% compared to 2023[198]. - GHG emissions primarily stem from diesel and gasoline consumption of vehicles, natural gas for heating, purchased electricity, and business air travel[198]. - The Group is committed to monitoring and controlling direct emissions from transportation through improved logistical planning and maximizing transportation efficiency[198]. - Drivers are encouraged to maintain good driving habits to reduce fuel loss and lower air emissions[199]. - The Group advises employees to minimize unnecessary business air travel and utilize online communication tools[199]. - The Group aims to adopt more environmentally friendly transportation modes and develop innovative technologies for transportation[198]. - The focus on reducing GHG emissions aligns with the national "30-60 Dual Carbon Target" initiative[198]. - The Group plans to improve energy efficiency by ensuring all vehicles are in good condition[199]. - Additional measures to save electricity and heat energy will be detailed in the "Use of Resources" section[199].

[Highlights](index=3&type=section&id=Highlights) The company achieved 37.79% revenue growth to RMB 1.88 billion, yet profit attributable to owners sharply declined by 94.98% Key Financial Indicators for H1 2024 | Indicator | H1 2024 | H1 2023 | YoY Change (%) | | :--- | :--- | :--- | :--- | | **Operating Revenue** | 1.88 billion RMB | 1.365 billion RMB | ▲ 37.79% | | **Gross Profit** | 21.532 million RMB | 16.815 million RMB | ▲ 28.05% | | **Gross Margin** | 1.15% | 1.23% | ▼ 0.08 percentage points | | **Profit Attributable to Owners of the Company** | 0.609 million RMB | 12.129 million RMB | ▼ 94.98% | | **Earnings Per Share (EPS) (RMB)** | 0.2 cents | 3.4 cents | ▼ 94.12% | [Unaudited Consolidated Interim Results](index=4&type=section&id=Unaudited%20Consolidated%20Interim%20Results) This section presents the unaudited consolidated financial statements, covering profit or loss, financial position, equity changes, and cash flows [Condensed Consolidated Statement of Profit or Loss and Other Comprehensive Income](index=4&type=section&id=Condensed%20Consolidated%20Statement%20of%20Profit%20or%20Loss%20and%20Other%20Comprehensive%20Income) Revenue grew 37.79% to RMB 1.88 billion, but profit attributable to owners plummeted 94.98% due to poor equity investments Key Profit or Loss Statement Data (RMB '000) | Item | H1 2024 | H1 2023 | | :--- | :--- | :--- | | Revenue | 1,880,472 | 1,364,715 | | Gross Profit | 21,532 | 16,815 | | Operating Profit | 10,433 | 5,864 | | Share of results of investments accounted for using the equity method | 4,469 | 17,679 | | Profit before income tax | 4,551 | 12,176 | | Profit for the period | 3,229 | 11,450 | | Profit attributable to owners of the Company | 609 | 12,129 | [Condensed Consolidated Statement of Financial Position](index=5&type=section&id=Condensed%20Consolidated%20Statement%20of%20Financial%20Position) Total assets grew to RMB 1.989 billion, liabilities to RMB 1.001 billion, driven by receivables and contract liabilities Key Financial Position Data (RMB '000) | Item | 2024年6月30日 | 2023年12月31日 | | :--- | :--- | :--- | | **Total Assets** | **1,989,038** | **1,820,788** | | Non-current Assets | 964,611 | 995,825 | | Current Assets | 1,024,427 | 824,963 | | **Total Liabilities** | **1,000,825** | **829,512** | | Current Liabilities | 908,291 | 720,205 | | Non-current Liabilities | 92,534 | 109,307 | | **Total Equity** | **988,213** | **991,276** | [Condensed Consolidated Statement of Changes in Equity](index=7&type=section&id=Condensed%20Consolidated%20Statement%20of%20Changes%20in%20Equity) Equity attributable to owners remained stable at RMB 888 million, with profit offset by dividends to non-controlling interests - Total equity for the period slightly decreased from **RMB 991 million** at the beginning of the year to **RMB 988 million**, with key changes including profit for the period of **RMB 3.229 million** and dividends paid to non-controlling interests of **RMB 6.292 million**[13](index=13&type=chunk) [Condensed Consolidated Cash Flow Statement](index=8&type=section&id=Condensed%20Consolidated%20Cash%20Flow%20Statement) Operating cash flow turned positive with RMB 25.811 million net inflow, but investing and financing outflows reduced cash to RMB 262 million Key Cash Flow Statement Data (RMB '000) | Item | H1 2024 | H1 2023 | | :--- | :--- | :--- | | Net cash generated from operating activities | 25,811 | (69,864) | | Net cash used in investing activities | (14,640) | (28,276) | | Net cash (used in)/generated from financing activities | (89,225) | 34,863 | | **Net decrease in cash and cash equivalents** | **(78,054)** | **(63,277)** | | Cash and cash equivalents at beginning of period | 340,301 | 414,629 | | Cash and cash equivalents at end of period | 262,247 | 351,352 | [Notes to the Condensed Consolidated Financial Information](index=9&type=section&id=Notes%20to%20the%20Condensed%20Consolidated%20Financial%20Information) This section provides detailed explanations and disclosures for the condensed consolidated financial statements [4. SEGMENT INFORMATION](index=12&type=section&id=4.%20SEGMENT%20INFORMATION) Segments show varied performance: materials procurement revenue up but profit low, auto logistics revenue down but profit surged Revenue and Performance by Business Segment (RMB '000) | Segment | H1 2024 Revenue | H1 2024 Performance | H1 2023 Revenue | H1 2023 Performance | | :--- | :--- | :--- | :--- | :--- | | Supply Chain and Logistics Services for Finished Automobiles and Components | 507,270 | 4,314 | 563,886 | (322) | | Materials Procurement Services | 1,340,218 | 294 | 764,476 | 577 | | Warehousing and Multimodal Transport Services | 25,504 | 765 | 31,060 | 1,070 | | All Other Segments | 7,480 | (80) | 5,293 | (3,019) | [MANAGEMENT DISCUSSION AND ANALYSIS](index=23&type=section&id=MANAGEMENT%20DISCUSSION%20AND%20ANALYSIS) This section provides management's perspective on the Group's financial condition and results of operations [Financial Review](index=23&type=section&id=Financial%20Review) Revenue grew 37.79% from materials procurement, but profit attributable to owners sharply declined 94.98% due to underperforming joint ventures - The primary reason for **operating revenue growth** was the Group's expansion of its **materials procurement services** business while reasonably managing business risks[48](index=48&type=chunk) - The main reason for the **net profit decline** was the **significant drop in operating performance** of **joint ventures and associates** (Tianjin TEDA Alps Logistics, TEDA Xing Cold Chain Logistics) due to market conditions, leading to continuous decreases in business volume and profit margins[51](index=51&type=chunk) - **Finance costs decreased by 8.94%** year-on-year, primarily due to reduced bank discount interest expenses[48](index=48&type=chunk) [Business Review](index=25&type=section&id=Business%20Review) Business segments show divergent performance: materials procurement revenue up, profit down; auto logistics profit surged despite revenue decline; joint ventures significantly underperformed [Supply Chain and Logistics Services for Finished Automobiles and Components](index=26&type=section&id=Supply%20Chain%20and%20Logistics%20Services%20for%20Finished%20Automobiles%20and%20Components) Revenue decreased 10.04% due to client factory slowdowns, but segment performance surged 1439.75% from high-margin imported vehicle business Automotive Logistics Business Performance | Indicator | H1 2024 | YoY Change (%) | | :--- | :--- | :--- | | Operating Revenue | 0.507 billion RMB | ▼ 10.04% | | Operating Performance | 4.314 million RMB | ▲ 1439.75% | [Materials Procurement Services](index=26&type=section&id=Materials%20Procurement%20Services) Revenue surged 75.31% from increased business volume, but performance declined 49.05% due to higher stamp duty from large contracts Materials Procurement Business Performance | Indicator | H1 2024 | YoY Change (%) | | :--- | :--- | :--- | | Operating Revenue | 1.34 billion RMB | ▲ 75.31% | | Operating Performance | 0.294 million RMB | ▼ 49.05% | [Warehousing and Multimodal Transport Business](index=27&type=section&id=Warehousing%20and%20Multimodal%20Transport%20Business) Revenue decreased 17.89% due to lower railway shipments and weak leasing, resulting in a 28.5% decline in operating performance Warehousing and Multimodal Transport Business Performance | Indicator | H1 2024 | YoY Change (%) | | :--- | :--- | :--- | | Operating Revenue | 25.504 million RMB | ▼ 17.89% | | Operating Performance | 0.765 million RMB | ▼ 28.5% | [Business Conducted Through Joint Ventures (Electronic Components and Cold Chain Logistics)](index=27&type=section&id=Business%20Conducted%20Through%20Joint%20Ventures) Joint ventures' electronic components and cold chain logistics businesses saw significant profit declines of 135.47% and 97.46% from market pressures - Electronic components supply chain logistics services (joint venture): Net profit contribution was approximately **RMB 6.509 million**, a year-on-year **decrease of 135.47%**[65](index=65&type=chunk) - Cold chain logistics services (joint venture): Net profit contribution was approximately **RMB 0.135 million**, a year-on-year **decrease of 97.46%**[65](index=65&type=chunk) [Liquidity, Financial Resources and Capital Structure](index=28&type=section&id=Liquidity%2C%20Financial%20Resources%20and%20Capital%20Structure) Asset-liability ratio rose to 50.32%, total borrowings decreased to RMB 274 million, with certain assets pledged as collateral Key Capital Structure Indicators | Indicator | 2024年6月30日 | 2023年12月31日 | | :--- | :--- | :--- | | Gearing Ratio (Total Liabilities/Total Assets) (%) | 50.32% | 45.56% | | Total Borrowings | 0.274 billion RMB | 0.352 billion RMB | [PROSPECTS AND OUTLOOK](index=30&type=section&id=PROSPECTS%20AND%20OUTLOOK) Facing H1 performance declines in joint ventures, the Group's H2 strategy focuses on high-quality development, core business strengthening, cost reduction, and materials procurement transformation - The main reason for the **significant performance decline in H1** was the substantial drop in performance of the **electronic components supply chain logistics** and **cold chain logistics services** segments, affected by market conditions and intensified competition[76](index=76&type=chunk)[78](index=78&type=chunk) - H2 Strategy: - **Strengthen core businesses, reduce costs, and improve efficiency** - **Expand automotive logistics business** - **Stabilize electronic components logistics** and intensify market development - **Promote the development of warehousing and multimodal transport businesses** - **Advance the transformation of materials procurement business into supply chain management services**[77](index=77&type=chunk)[78](index=78&type=chunk) [Other Information](index=31&type=section&id=Other%20Information) This section provides additional disclosures not covered in the main financial statements or management discussion and analysis [SUBSTANTIAL SHAREHOLDERS AND PERSONS HOLDING INTERESTS AND SHORT POSITIONS IN THE SHARES AND UNDERLYING SHARES OF THE COMPANY](index=32&type=section&id=SUBSTANTIAL%20SHAREHOLDERS%20AND%20PERSONS%20HOLDING%20INTERESTS%20AND%20SHORT%20POSITIONS%20IN%20THE%20SHARES%20AND%20UNDERLYING%20SHARES%20OF%20THE%20COMPANY) As of June 30, 2024, substantial shareholders include Tianjin TEDA Investment Holding (42.45%) and Chia Tai Pharmaceutical Investment (21.82%) Substantial Shareholders' Shareholdings | Shareholder Name | Shareholding Percentage (%) | | :--- | :--- | | Tianjin TEDA Investment Holding Co., Ltd. | 42.45% | | Chia Tai Pharmaceutical Investment (Beijing) Co., Ltd. | 21.82% | | Chia Tai Land Co., Ltd. | 8% | | Tianjin Port Development Holdings Limited | 5.64% |