2021 年第一季度报告 公司代码：600125 公司简称：铁龙物流 中铁铁龙集装箱物流股份有限公司 2021 年第一季度报告 1 / 20 2021 年第一季度报告 一、重要提示 . 二、公司基本情况 … 三、重要事项 . 四、附录 . 目录 2 / 20 2021 年第一季度报告 一、 重要提示 1.1 公司董事会、监事会及董事、监事、高级管理人员保证季度报告内容的真实、准 确、完整，不存在虚假记载、误导性陈述或者重大遗漏，并承担个别和连带的法 律责任。 1.2 公司全体董事出席董事会审议季度报告。 1.3 公司负责人张骥翼、主管会计工作负责人吴琼及会计机构负责人（会计主管人 员）毕晶保证季度报告中财务报表的真实、准确、完整。 1.4 本公司第一季度报告未经审计。 二、 公司基本情况 2.1 主要财务数据 | --- | --- | --- | --- | |-----------------------------------------------|-------------------|-----------------------------------|--------------------- ...

Financial Performance - The company's operating revenue for 2020 was CNY 15,167,133,912.31, a decrease of 7.34% compared to CNY 16,368,454,209.34 in 2019[23] - The net profit attributable to shareholders for 2020 was CNY 400,601,796.57, down 11.89% from CNY 454,675,457.64 in 2019[23] - The net cash flow from operating activities decreased by 49.90% to CNY 371,660,738.83 in 2020 from CNY 741,767,389.50 in 2019[23] - The total assets at the end of 2020 were CNY 9,513,039,758.75, a decrease of 3.83% from CNY 9,891,666,078.27 at the end of 2019[23] - The net assets attributable to shareholders increased by 4.32% to CNY 6,228,827,103.18 at the end of 2020 from CNY 5,971,162,208.75 at the end of 2019[23] - The basic earnings per share for 2020 were CNY 0.307, down 11.78% from CNY 0.348 in 2019[23] - The weighted average return on equity for 2020 was 6.568%, a decrease of 1.248 percentage points from 7.816% in 2019[23] - The company reported non-recurring gains of CNY 18,827,416.62 for 2020, which included government subsidies and asset disposal gains[27] - The company's total operating revenue decreased by 7.34% year-on-year to CNY 1,516,713.39 million, with a gross margin of 5.23%, down 0.88 percentage points from the previous year[47] - The total operating costs decreased by 6.47% year-on-year to CNY 14,373,752.19 million[52] Business Operations - In Q1 2020, the company reported operating revenue of CNY 4,225,960,849, which increased to CNY 5,396,616,649.60 in Q3, before dropping to CNY 982,954,588.31 in Q4[26] - The net profit attributable to shareholders was CNY 140,894,496.77 in Q1, decreasing to CNY 26,580,885.79 in Q4, indicating a significant decline over the year[26] - The gross profit margin for the railway special container logistics business was 29.52%, while the railway freight and port logistics business achieved a gross profit margin of 53.66%[31] - The railway special container business saw a revenue drop of 18.40% to CNY 141,199.55 million, with a gross profit margin of 16.59%, decreasing by 1.74 percentage points[47] - The railway freight and port logistics business achieved a revenue increase of 8.61% to CNY 258,885.14 million, with a gross margin of 16.45%, up 0.95 percentage points[47] - The supply chain management business reported a revenue decline of 7.82% to CNY 1,085,799.47 million, with a gross margin of 0.78%, down 1.11 percentage points[47] - The real estate business experienced a significant revenue decrease of 45.75% to CNY 18,253.15 million, with a gross margin of 17.37%, down 3.45 percentage points[50] - The total sales volume of steel in the supply chain management business fell by 56.11% to 159.34 million tons, while new bulk commodity trade sales reached 6.26 million tons[47] Strategic Initiatives - The company has initiated the Dalian cold chain logistics base, which is expected to gradually contribute to profit growth despite short-term pandemic impacts[35] - The company has optimized its supply chain management business, transitioning from processing trade to bulk material trade, achieving a gross profit margin of 10.69%[32] - The company has maintained a strategic focus on enhancing service levels in the liquid chemical transportation market, which has been a competitive advantage[35] - The company plans to enhance communication and collaboration with clients to identify growth points in the logistics supply chain[73] - The company aims to adapt its strategies in response to the restructuring of global supply chains and domestic industry adjustments[74] - The company is considering strategic acquisitions to enhance its service offerings, with a budget of 200 million allocated for potential deals[148] Research and Development - Research and development expenses increased by 78.57% to 3.6 million RMB, primarily due to new box type development costs[43] - The company successfully developed over 2,000 new specialized containers for ethylene glycol transportation[41] - The company is investing 50 million in R&D for new technologies aimed at improving logistics efficiency[148] - The company is committed to ongoing research and development of new technologies to drive future growth[143] Corporate Governance - The company has not reported any major litigation or arbitration matters during the reporting period[94] - The company has maintained a good integrity status with no reported issues for its controlling shareholders and actual controllers[94] - The company has retained the auditing firm for 9 years, with an audit fee of 1,350,000 CNY[93] - The company established a governance structure compliant with national laws and regulations, ensuring effective internal control mechanisms[166] - The company’s governance practices align with the requirements of the China Securities Regulatory Commission, with no significant discrepancies noted[166] Social Responsibility - The company actively participated in social responsibility initiatives, including the transportation of medical supplies during the pandemic[41] - The company provided assistance to 170 individuals in need, with a total of 569,500 RMB allocated for aid during the reporting period[114] - The company invested 5.90 million RMB to support 17 impoverished students as part of its poverty alleviation efforts[117] - The company has implemented a salary policy based on its "Employee Salary and Benefits Management System" during the reporting period[160] Financial Management - The company issued bonds in 2020, with the amount of bonds payable at the end of the period being ¥74,648.35 million, accounting for 7.85% of total liabilities[62] - The company has entrusted 30,000.00 million in cash asset management, utilizing self-owned funds[104] - The company has a total of 110,000.00 million in entrusted financial management, with an actual return of 769.56 million[107] - The company has no overdue amounts in its entrusted financial management[104] - The company has no impairment provisions for entrusted financial management[107] Employee Management - The total number of ordinary shareholders as of the end of the reporting period is 98,153, an increase from 91,743 at the end of the previous month[128] - The number of employees in the parent company is 1,276, while the total number of employees across the parent and major subsidiaries is 2,226[159] - A total of 8,165 training sessions were conducted during the reporting period, including 761 for management and 7,404 for frontline employees[161] - The total remuneration paid to directors, supervisors, and senior management during the reporting period amounted to CNY 9.5841 million[155] Market Position - The company was recognized as one of the "Top 50 Logistics Enterprises in China" during the reporting period[41] - The company’s logistics services are expected to play a key role in the integration of international logistics supply chains, particularly in relation to the Belt and Road Initiative[73] - The company is focused on high-quality development and enhancing market competitiveness[133]

Important Notice [Statement of Authenticity and Responsibility](index=3&type=section&id=1.1%20%E5%85%AC%E5%8F%B8%E8%91%A3%E4%BA%8B%E4%BC%9A%E3%80%81%E7%9B%91%E4%BA%8B%E4%BC%9A%E5%8F%8A%E8%91%A3%E4%BA%8B%E3%80%81%E7%9B%91%E4%BA%8B%E3%80%81%E9%AB%98%E7%BA%A7%E7%AE%A1%E7%90%86%E4%BA%BA%E5%91%98%E4%BF%9D%E8%AF%81%E5%AD%A3%E5%BA%A6%E6%8A%A5%E5%91%8A%E5%86%85%E5%AE%B9%E7%9A%84%E7%9C%9F%E5%AE%9E%E3%80%81%E5%87%86%E7%A1%AE%E3%80%81%E5%AE%8C%E6%95%B4%EF%BC%8C%E4%B8%8D%E5%AD%98%E5%9C%A8%E8%99%9A%E5%81%87%E8%AE%B0%E8%BD%BD%E3%80%81%E8%AF%AF%E5%AF%BC%E6%80%A7%E9%99%88%E8%BF%B0%E6%88%96%E8%80%85%E9%87%8D%E5%A4%A7%E9%81%97%E6%BC%8F%EF%BC%8C%E5%B9%B6%E6%89%BF%E6%8B%85%E4%B8%AA%E5%88%AB%E5%92%8C%E8%BF%9E%E5%B8%A6%E7%9A%84%E6%B3%95%E5%BE%8B%E8%B4%A3%E4%BB%BB%E3%80%82) The Board of Directors, Supervisory Committee, and senior management collectively guarantee the authenticity, accuracy, and completeness of this quarterly report and assume legal responsibility - The Board of Directors, Supervisory Committee, and senior management pledge the authenticity, accuracy, and completeness of the quarterly report's content and assume legal responsibility[7](index=7&type=chunk) - All company directors attended the board meeting to review the quarterly report[7](index=7&type=chunk) - Company head Zhang Jiyi, Chief Financial Officer Wu Qiong, and head of the accounting department Bi Jing guarantee the authenticity, accuracy, and completeness of the financial statements[7](index=7&type=chunk) - This third-quarter report is **unaudited**[7](index=7&type=chunk) Company Profile [Key Financial Data](index=3&type=section&id=2.1%20%E4%B8%BB%E8%A6%81%E8%B4%A2%E5%8A%A1%E6%95%B0%E6%8D%AE) As of September 2020, total assets and net assets attributable to shareholders increased, while net profit declined despite a 17.42% rise in revenue year-to-date Key Balance Sheet Data (as of September 30, 2020) | Indicator | Current Period End (RMB) | Prior Year-End (RMB) | Change (%) | | :--- | :--- | :--- | :--- | | Total Assets | 10,363,129,908.11 | 9,891,666,078.27 | 4.77 | | Net Assets Attributable to Shareholders | 6,201,757,501.99 | 5,971,162,208.75 | 3.86 | Key Income Statement and Cash Flow Data (YTD, Jan-Sep) | Indicator | YTD (Jan-Sep) (RMB) | Prior YTD (Jan-Sep) (RMB) | Change (%) | | :--- | :--- | :--- | :--- | | Net Cash Flow from Operating Activities | 403,178,180.11 | 430,693,756.56 | -6.39 | | Operating Revenue | 14,184,179,324.00 | 12,079,431,201.47 | 17.42 | | Net Profit Attributable to Shareholders | 374,020,910.78 | 388,442,755.04 | -3.71 | | Net Profit Attributable to Shareholders (Excluding Non-recurring Items) | 348,831,440.77 | 373,006,195.60 | -6.48 | | Weighted Average Return on Equity (%) | 6.121 | 6.686 | Decreased by 0.565 percentage points | | Basic Earnings Per Share (RMB/Share) | 0.287 | 0.298 | -3.69 | Non-recurring Gains and Losses (YTD, Jan-Sep) | Item | Amount (RMB) | | :--- | :--- | | Gains/Losses from Disposal of Non-current Assets | 14,945,262.71 | | Government Grants Recognized in Current Profit or Loss | 14,234,178.24 | | Gains/Losses from Entrusted Asset Management | 4,033,972.61 | | Other Non-operating Income and Expenses | 400,650.73 | | Impact on Minority Interests (After Tax) | -255.67 | | Income Tax Impact | -8,424,338.61 | | **Total** | **25,189,470.01** | [Shareholder Information](index=4&type=section&id=2.2%20%E6%88%AA%E6%AD%A2%E6%8A%A5%E5%91%8A%E6%9C%9F%E6%9C%AB%E7%9A%84%E8%82%A1%E4%B8%9C%E6%80%BB%E6%95%B0%E3%80%81%E5%89%8D%E5%8D%81%E5%90%8D%E8%82%A1%E4%B8%9C%E3%80%81%E5%89%8D%E5%8D%81%E5%90%8D%E6%B5%81%E9%80%9A%E8%82%A1%E4%B8%9C%EF%BC%88%E6%88%96%E6%97%A0%E9%99%90%E5%94%AE%E6%9D%A1%E4%BB%B6%E8%82%A1%E4%B8%9C%EF%BC%89%E6%8C%81%E8%82%A1%E6%83%85%E5%86%B5%E8%A1%A8) The company had 92,749 shareholders, with the top two state-owned entities, China Railway Container Transport and Dalian Railway Economic Development, holding nearly 30% combined - Total number of shareholders was **92,749** as of the reporting period end[11](index=11&type=chunk) Top Ten Shareholders (as of September 30, 2020) | Shareholder Name | Shares Held at Period End (Shares) | Percentage (%) | Shareholder Type | | :--- | :--- | :--- | :--- | | China Railway Container Transport Co., Ltd. | 207,554,700 | 15.90 | State-owned Legal Entity | | Dalian Railway Economic and Technological Development Co., Ltd. | 184,193,104 | 14.11 | State-owned Legal Entity | | Hong Kong Securities Clearing Company Ltd. | 36,925,108 | 2.83 | Other | | Central Huijin Asset Management Ltd. | 15,758,200 | 1.21 | State-owned Legal Entity | | Deng Chaoquan | 11,490,605 | 0.88 | Domestic Individual | | China Agricultural Bank Co., Ltd. - CSI 500 ETF | 4,650,224 | 0.36 | Other | | Basic Pension Insurance Fund Portfolio 903 | 4,418,200 | 0.34 | Other | | Hou Jianxiang | 4,284,280 | 0.33 | Domestic Individual | | Basic Pension Insurance Fund Portfolio 1301 | 2,885,600 | 0.22 | Other | | Li Mingguo | 2,815,695 | 0.22 | Domestic Individual | - China Railway Container Transport Co., Ltd. and Dalian Railway Economic and Technological Development Co., Ltd. are both state-owned shareholders within the railway system[11](index=11&type=chunk) Significant Events [Analysis of Significant Changes in Key Financial Statement Items](index=5&type=section&id=3.1%20%E5%85%AC%E5%8F%B8%E4%B8%BB%E8%A6%81%E4%BC%9A%E8%AE%A1%E6%8A%A5%E8%A1%A8%E9%A1%B9%E7%9B%AE%E3%80%81%E8%B4%A2%E5%8A%A1%E6%8C%87%E6%A0%87%E9%87%8D%E5%A4%A7%E5%8F%98%E5%8A%A8%E7%9A%84%E6%83%85%E5%86%B5%E5%8F%8A%E5%8E%9F%E5%9B%A0) Significant fluctuations occurred across the balance sheet, income statement, and cash flow statement, driven by changes in receivables, debt issuance, and the adoption of new revenue standards Analysis of Major Changes in the Balance Sheet (as of September 30, 2020) | Item | Period End Balance (RMB 10,000) | Beginning Balance (RMB 10,000) | Change (%) | Reason for Change | | :--- | :--- | :--- | :--- | :--- | | Trading Financial Assets | 30,000.00 | - | - | Increase in wealth management products from banks | | Accounts Receivable | 36,707.70 | 18,179.22 | 101.92 | Increase in receivables for goods | | Receivables Financing | 10,305.71 | 14,731.28 | -30.04 | Decrease in outstanding bank acceptance bills | | Prepayments | 32,941.33 | 20,302.24 | 62.25 | Increase in prepayments for goods | | Other Receivables | 8,361.40 | 4,165.03 | 100.75 | Increase in receivable VAT turnover | | Notes Payable | 510.00 | 5,000.00 | -89.80 | Bank acceptance bills issued in the period were settled | | Advances from Customers | 36.44 | 150,002.66 | -99.98 | Adoption of the new revenue standard | | Contract Liabilities | 85,957.68 | - | - | Adoption of the new revenue standard | | Other Current Liabilities | 10,294.75 | - | - | Adoption of the new revenue standard | | Bonds Payable | 74,630.90 | - | - | Issuance of 2020 corporate bonds (Phase I) | | Deferred Tax Liabilities | 22,507.03 | 16,385.50 | 37.36 | Implementation of tax preference policies per document [2018] No. 54 | Analysis of Major Changes in the Income Statement (YTD, Jan-Sep) | Item | Current Period Amount (RMB 10,000) | Prior Period Amount (RMB 10,000) | Change (%) | Reason for Change | | :--- | :--- | :--- | :--- | :--- | | Selling Expenses | 3,678.03 | 14,302.02 | -74.28 | Certain transportation costs are now listed under cost of sales due to the new revenue standard | | R&D Expenses | 32.55 | 201.60 | -83.85 | Year-on-year decrease in R&D expenses | Analysis of Major Changes in the Cash Flow Statement (YTD, Jan-Sep) | Item | Current Period Amount (RMB 10,000) | Prior Period Amount (RMB 10,000) | Change (%) | Reason for Change | | :--- | :--- | :--- | :--- | :--- | | Net Cash Flow from Operating Activities | 40,317.82 | 43,069.38 | -6.39 | - | | Net Cash Flow from Investing Activities | -40,533.48 | -31,699.19 | -27.87 | - | | Net Cash Flow from Financing Activities | 63,105.91 | -34,316.46 | 283.89 | Primarily due to the issuance of 2020 corporate bonds (Phase I) | [Progress of Significant Events](index=6&type=section&id=3.2%20%E9%87%8D%E8%A6%81%E4%BA%8B%E9%A1%B9%E8%BF%9B%E5%B1%95%E6%83%85%E5%86%B5%E5%8F%8A%E5%85%B6%E5%BD%B1%E5%93%8D%E5%92%8C%E8%A7%A3%E5%86%B3%E6%96%B9%E6%A1%88%E7%9A%84%E5%88%86%E6%9E%90%E8%AF%B4%E6%98%8E) There were no significant events, their impacts, or resolutions to be disclosed during the reporting period - No progress on significant events or related analyses of impacts and solutions were reported during this period[17](index=17&type=chunk) [Overdue Unfulfilled Commitments](index=6&type=section&id=3.3%20%E6%8A%A5%E5%91%8A%E6%9C%9F%E5%86%85%E8%B6%85%E6%9C%9F%E6%9C%AA%E5%B1%A5%E8%A1%8C%E5%AE%8C%E6%AF%95%E7%9A%84%E6%89%BF%E8%AF%BA%E4%BA%8B%E9%A1%B9) The company had no overdue unfulfilled commitments during the reporting period - There were no overdue unfulfilled commitments during the reporting period[17](index=17&type=chunk) [Warning on Cumulative Net Profit Forecast](index=6&type=section&id=3.4%20%E9%A2%84%E6%B5%8B%E5%B9%B4%E5%88%9D%E8%17%B3%E4%B8%8B%E4%B8%80%E6%8A%A5%E5%91%8A%E6%9C%9F%E6%9C%9F%E6%9C%AB%E7%9A%84%E7%B4%AF%E8%AE%A1%E5%87%80%E5%88%A9%E6%B6%A6%E5%8F%AF%E8%83%BD%E4%B8%BA%E4%BA%8F%E6%8D%9F%E6%88%96%E8%80%85%E4%B8%8E%E4%B8%8A%E5%B9%B4%E5%90%8C%E6%9C%9F%E7%9B%B8%E6%AF%94%E5%8F%91%E7%94%9F%E9%87%8D%E5%A4%A7%E5%8F%98%E5%8A%A8%E7%9A%84%E8%AD%A6%E7%A4%BA%E5%8F%8A%E5%8E%9F%E5%9B%A0%E8%AF%B4%E6%98%8E) The company has not issued a warning regarding potential losses or significant changes in cumulative net profit for the period from the beginning of the year to the end of the next reporting period - The company has not issued a warning regarding potential losses or significant changes in cumulative net profit for the period from the beginning of the year to the end of the next reporting period[17](index=17&type=chunk) Appendix [Financial Statements](index=7&type=section&id=4.1%20%E8%B4%A2%E5%8A%A1%E6%8A%A5%E8%A1%A8) This appendix contains the unaudited consolidated and parent company financial statements, including balance sheets, income statements, and cash flow statements for the period ended September 30, 2020 [Consolidated Balance Sheet](index=7&type=section&id=%E5%90%88%E5%B9%B6%E8%B5%84%E4%BA%A7%E8%B4%9F%E5%80%BA%E8%A1%A8) As of September 30, 2020, consolidated total assets reached RMB 10.36 billion, a 4.77% increase from year-end 2019, driven by increases in cash, trading financial assets, and receivables Key Items of the Consolidated Balance Sheet (as of September 30, 2020) | Item | September 30, 2020 (RMB) | December 31, 2019 (RMB) | | :--- | :--- | :--- | | Cash and Cash Equivalents | 1,884,168,647.86 | 1,264,770,468.92 | | Trading Financial Assets | 300,000,000.00 | - | | Accounts Receivable | 367,076,952.09 | 181,792,199.19 | | Prepayments | 329,413,258.36 | 203,022,355.51 | | Other Receivables | 83,614,003.05 | 41,650,317.69 | | Inventories | 2,200,784,167.93 | 3,019,692,464.98 | | Total Current Assets | 5,432,236,786.28 | 5,083,352,615.02 | | Fixed Assets | 3,890,375,990.94 | 3,800,323,913.23 | | Total Assets | 10,363,129,908.11 | 9,891,666,078.27 | | Notes Payable | 5,100,000.00 | 50,000,000.00 | | Advances from Customers | 364,383.92 | 1,500,026,607.13 | | Contract Liabilities | 859,576,759.62 | - | | Bonds Payable | 746,308,968.65 | - | | Total Liabilities | 4,124,609,129.56 | 3,897,816,071.88 | | Total Equity Attributable to Parent Company | 6,201,757,501.99 | 5,971,162,208.75 | [Parent Company Balance Sheet](index=10&type=section&id=%E6%AF%8D%E5%85%AC%E5%8F%B8%E8%B5%84%E4%BA%A7%E8%B4%9F%E5%80%BA%E8%A1%A8) As of September 30, 2020, the parent company's total assets were RMB 8.63 billion, a 14.48% increase from year-end 2019, mainly driven by increases in cash and financial assets Key Items of the Parent Company Balance Sheet (as of September 30, 2020) | Item | September 30, 2020 (RMB) | December 31, 2019 (RMB) | | :--- | :--- | :--- | | Cash and Cash Equivalents | 1,642,974,820.38 | 1,125,163,313.97 | | Trading Financial Assets | 300,000,000.00 | - | | Other Receivables | 1,801,916,432.49 | 1,548,158,679.19 | | Total Assets | 8,631,027,400.90 | 7,543,662,972.15 | | Accounts Payable | 211,909,165.07 | 149,935,495.70 | | Advances from Customers | 364,383.92 | 54,794,764.13 | | Contract Liabilities | 59,529,579.96 | - | | Other Payables | 673,764,904.94 | 492,218,135.30 | | Bonds Payable | 746,308,968.65 | - | | Total Liabilities | 2,757,749,744.14 | 1,707,266,615.06 | | Total Equity | 5,873,277,656.76 | 5,836,396,357.09 | [Consolidated Income Statement](index=12&type=section&id=%E5%90%88%E5%B9%B6%E5%88%A9%E6%B6%A6%E8%A1%A8) For the first three quarters of 2020, consolidated revenue grew 17.42% to RMB 14.18 billion, but net profit attributable to parent company shareholders decreased by 3.71% to RMB 374 million Key Items of the Consolidated Income Statement (YTD, Jan-Sep 2020) | Item | YTD 2020 (RMB) | YTD 2019 (RMB) | YoY Change (%) | | :--- | :--- | :--- | :--- | | Total Operating Revenue | 14,184,179,324.00 | 12,079,431,201.47 | 17.42 | | Total Operating Costs | 13,695,644,122.79 | 11,575,015,465.60 | 18.32 | | Selling Expenses | 36,780,343.67 | 143,020,230.59 | -74.28 | | R&D Expenses | 325,504.31 | 2,016,037.75 | -83.85 | | Investment Income | 841,968.95 | 6,444,441.33 | -86.95 | | Credit Impairment Loss | -8,449,918.21 | 4,355,586.99 | -294.00 | | Operating Profit | 511,004,632.55 | 531,608,187.92 | -3.88 | | Net Profit | 375,517,746.70 | 387,879,123.58 | -3.19 | | Net Profit Attributable to Parent Company Shareholders | 374,020,910.78 | 388,442,755.04 | -3.71 | | Basic Earnings Per Share (RMB/Share) | 0.287 | 0.298 | -3.69 | [Parent Company Income Statement](index=15&type=section&id=%E6%AF%8D%E5%85%AC%E5%8F%B8%E5%88%A9%E6%B6%A6%E8%A1%A8) For the first three quarters of 2020, the parent company's revenue grew 1.86% to RMB 2.14 billion, while net profit decreased by 9.79% to RMB 180 million Key Items of the Parent Company Income Statement (YTD, Jan-Sep 2020) | Item | YTD 2020 (RMB) | YTD 2019 (RMB) | YoY Change (%) | | :--- | :--- | :--- | :--- | | Operating Revenue | 2,137,902,447.27 | 2,098,909,678.10 | 1.86 | | Operating Costs | 1,815,319,012.38 | 1,736,899,570.76 | 4.51 | | Selling Expenses | 14,193,610.36 | 18,771,475.55 | -24.49 | | R&D Expenses | 325,504.31 | 2,016,037.75 | -83.85 | | Investment Income | 1,628,291.12 | 7,109,445.55 | -77.09 | | Credit Impairment Loss | -2,079,136.23 | -459,788.29 | -352.19 | | Operating Profit | 242,238,293.15 | 266,536,580.85 | -9.12 | | Net Profit | 180,488,705.81 | 200,067,940.71 | -9.79 | [Consolidated Cash Flow Statement](index=17&type=section&id=%E5%90%88%E5%B9%B6%E7%8E%B0%E9%87%91%E6%B5%81%E9%87%8F%E8%A1%A8) For the first three quarters of 2020, consolidated net operating cash flow was RMB 403 million, a 6.39% decrease, while financing cash flow turned positive due to bond issuance Key Items of the Consolidated Cash Flow Statement (YTD, Jan-Sep 2020) | Item | YTD 2020 (RMB) | YTD 2019 (RMB) | YoY Change (%) | | :--- | :--- | :--- | :--- | | Net Cash Flow from Operating Activities | 403,178,180.11 | 430,693,756.56 | -6.39 | | Net Cash Flow from Investing Activities | -405,334,782.12 | -316,991,930.82 | -27.87 | | Net Cash Flow from Financing Activities | 631,059,058.01 | -343,164,602.50 | 283.89 | | Net Increase in Cash and Cash Equivalents | 628,378,178.94 | -229,333,765.62 | -374.00 | | Closing Balance of Cash and Cash Equivalents | 1,883,148,647.86 | 890,398,840.77 | 111.50 | [Parent Company Cash Flow Statement](index=19&type=section&id=%E6%AF%8D%E5%85%AC%E5%8F%B8%E7%8E%B0%E9%87%91%E6%B5%81%E9%87%8F%E8%A1%A8) For the first three quarters of 2020, the parent company's net operating cash flow was RMB 272 million, a 26.36% decrease, while financing cash flow turned positive due to new borrowings Key Items of the Parent Company Cash Flow Statement (YTD, Jan-Sep 2020) | Item | YTD 2020 (RMB) | YTD 2019 (RMB) | YoY Change (%) | | :--- | :--- | :--- | :--- | | Net Cash Flow from Operating Activities | 271,797,443.75 | 369,092,786.29 | -26.36 | | Net Cash Flow from Investing Activities | -347,108,047.35 | -223,427,342.43 | -55.36 | | Net Cash Flow from Financing Activities | 593,120,438.58 | -431,188,972.66 | 237.50 | | Net Increase in Cash and Cash Equivalents | 517,811,506.41 | -285,523,523.27 | -281.30 | | Closing Balance of Cash and Cash Equivalents | 1,642,974,820.38 | 597,319,807.25 | 175.00 | [Adjustments for First-Time Adoption of New Accounting Standards](index=20&type=section&id=4.2%202020%20%E5%B9%B4%E8%B5%B7%E9%A6%96%E6%AC%A1%E6%89%A7%E8%A1%8C%E6%96%B0%E6%94%B6%E5%85%A5%E5%87%86%E5%88%99%E3%80%81%E6%96%B0%E7%A7%9F%E8%B5%81%E5%87%86%E5%88%99%E8%B0%83%E6%95%B4%E9%A6%96%E6%AC%A1%E6%89%A7%E8%A1%8C%E5%BD%93%E5%B9%B4%E5%B9%B4%E5%88%9D%E8%B4%A2%E5%8A%A1%E6%8A%A5%E8%A1%A8%E7%9B%B8%E5%85%B3%E6%83%85%E5%86%B5) The company adopted the new revenue standard from 2020, resulting in adjustments to the opening financial statements by reclassifying "advances from customers" to "contract liabilities" and "other current liabilities" [Consolidated Financial Statement Adjustments](index=20&type=section&id=4.2.1%20%E5%90%88%E5%B9%B6%E8%B4%A2%E5%8A%A1%E6%8A%A5%E8%A1%A8%E8%B0%83%E6%95%B4%E6%83%85%E5%86%B5) At the consolidated level, "advances from customers" decreased by RMB 1.50 billion, with corresponding increases in "contract liabilities" and "other current liabilities," leaving total assets and liabilities unchanged Consolidated Financial Statement Adjustment Details (January 1, 2020) | Item | December 31, 2019 (RMB) | January 1, 2020 (RMB) | Adjustment (RMB) | | :--- | :--- | :--- | :--- | | Advances from Customers | 1,500,026,607.13 | 686,930.35 | -1,499,339,676.78 | | Contract Liabilities | - | 1,338,635,191.65 | 1,338,635,191.65 | | Other Current Liabilities | - | 160,704,485.13 | 160,704,485.13 | | Total Assets | 9,891,666,078.27 | 9,891,666,078.27 | 0 | | Total Liabilities | 3,897,816,071.88 | 3,897,816,071.88 | 0 | [Parent Company Financial Statement Adjustments](index=22&type=section&id=4.2.2%20%E6%AF%8D%E5%85%AC%E5%8F%B8%E8%B4%A2%E5%8A%A1%E6%8A%A5%E8%A1%A8%E8%B0%83%E6%95%B4%E6%83%85%E5%86%B5) At the parent company level, "advances from customers" decreased by RMB 54.11 million, with corresponding increases in "contract liabilities" and "other current liabilities," leaving total assets and liabilities unchanged Parent Company Financial Statement Adjustment Details (January 1, 2020) | Item | December 31, 2019 (RMB) | January 1, 2020 (RMB) | Adjustment (RMB) | | :--- | :--- | :--- | :--- | | Advances from Customers | 54,794,764.13 | 686,930.35 | -54,107,833.78 | | Contract Liabilities | - | 50,066,525.79 | 50,066,525.79 | | Other Current Liabilities | - | 4,041,307.99 | 4,041,307.99 | | Total Assets | 7,543,662,972.15 | 7,543,662,972.15 | 0 | | Total Liabilities | 1,707,266,615.06 | 1,707,266,615.06 | 0 | [Explanation of Retrospective Adjustments for New Accounting Standards](index=24&type=section&id=4.3%202020%20%E5%B9%B4%E8%B5%B7%E9%A6%96%E6%AC%A1%E6%89%A7%E8%A1%8C%E6%96%B0%E6%94%B6%E5%85%A5%E5%87%86%E5%88%99%E3%80%81%E6%96%B0%E7%A7%9F%E8%B5%81%E5%87%86%E5%88%99%E8%BF%BD%E6%BA%AF%E8%B0%83%E6%95%B4%E5%89%8D%E6%9C%9F%E6%AF%94%E8%BE%83%E6%95%B0%E6%8D%AE%E7%9A%84%E8%AF%B4%E6%98%8E) The company did not retrospectively adjust prior period comparative data for the first-time adoption of the new revenue and lease standards in 2020 - The company did not retrospectively adjust prior period comparative data to reflect the first-time adoption of the new revenue and lease standards[64](index=64&type=chunk) [Audit Report](index=24&type=section&id=4.4%20%E5%AE%A1%E8%AE%A1%E6%8A%A5%E5%91%8A) This quarterly report has not been audited and therefore does not include an audit report - This quarterly report is **unaudited**[64](index=64&type=chunk)

Financial Performance - The company's operating revenue for the first half of 2020 was ¥8,787,562,674.40, representing a 13.08% increase compared to ¥7,770,824,896.87 in the same period last year[18]. - The net profit attributable to shareholders of the listed company was ¥259,149,403.00, a decrease of 2.47% from ¥265,713,203.84 in the previous year[18]. - The net cash flow from operating activities increased by 73.84% to ¥335,470,215.43, compared to ¥192,981,440.81 in the same period last year[18]. - The total assets at the end of the reporting period were ¥9,413,330,848.81, down 4.84% from ¥9,891,666,078.27 at the end of the previous year[18]. - The net assets attributable to shareholders of the listed company increased by 1.94% to ¥6,086,835,330.63, compared to ¥5,971,162,208.75 at the end of the previous year[18]. - Basic earnings per share for the reporting period were ¥0.199, a decrease of 2.45% from ¥0.204 in the same period last year[18]. - The weighted average return on net assets was 4.232%, down 0.349 percentage points from the previous year[18]. Business Segments - The railway special container logistics business accounted for 25.33% of the total gross profit, which was impacted by the pandemic and market factors[23]. - The railway freight and port logistics business contributed 55.08% to the gross profit, with a significant increase in cargo volume compared to the previous year[23]. - The gross profit margin for the railway special container business decreased by 3.44 percentage points to 16.64%[29]. - The gross profit margin for the railway freight and port logistics business increased by 0.99 percentage points to 19.07%[29]. - The real estate business's gross profit margin was 5.13%, reflecting a decline due to the overall sluggish real estate market[23]. - The other businesses reported a gross profit margin of -1.46%, indicating a need for better management of non-core operations[23]. Investments and Projects - The company has been actively expanding multi-modal transport logistics channels and enhancing logistics platform construction[27]. - The company plans to accelerate the development of new box types and products, leveraging the advantages of the China-Europe Railway Express[27]. - The company made a total external equity investment of 98.76 million yuan, an increase of 16.51% compared to the end of the previous year[42]. - The company invested 16.93 million yuan in purchasing railway special containers, with a project completion rate of 100%[43]. - The cold chain logistics base project has received a total investment of 86.3 million yuan, with a completion rate of 90%[43]. Challenges and Market Conditions - The company faced challenges in its specialized container business due to market demand fluctuations and economic downturns, impacting logistics operations[50]. - The overall economic environment and external trade conditions are expected to impact the company's logistics operations, particularly in the context of global oil supply adjustments[50]. - The logistics sector is expected to benefit from increased demand for bulk products like steel and cement due to national infrastructure initiatives[50]. Related Party Transactions and Guarantees - The company reported a total of 8,188.71 million yuan in actual related party transactions, which accounted for 47.35% of the estimated annual amount of 17,294.44 million yuan[62]. - The actual amount of related party transactions with China National Railway Group Co., Ltd. was 40,804.68 million yuan, representing 49.51% of the estimated amount[62]. - The company provided guarantees totaling 40,000.00 million yuan, which is 6.55% of the company's net assets[71]. Social Responsibility and Compliance - During the reporting period, the company assisted 103 individuals in need, disbursing a total of 452,300 yuan in aid[75]. - The company has actively engaged in poverty alleviation activities, including reimbursing medical expenses for employees and providing financial assistance[75]. - The company adheres to environmental protection principles, emphasizing energy efficiency and low carbon in its major investment projects, particularly in the railway container business[79]. - The company emphasizes compliance with environmental regulations in its construction projects, ensuring coordination between production and environmental protection[82]. Financial Ratios and Debt Management - The company's current ratio improved to 1.83, an increase of 13.66% compared to the previous year[100]. - The quick ratio increased by 44.62% to 0.94, attributed to a rise in quick assets[100]. - The debt-to-asset ratio decreased by 4.30 percentage points to 35.11%[100]. - The company maintained a loan repayment rate of 100%[100]. - The cash interest coverage ratio significantly improved by 70.21% to 12.00, due to an increase in net cash flow from operating activities[102]. Shareholder Information - The company has not made any changes to its share capital structure during the reporting period, with a total of 91,037 common shareholders[86]. - The top ten shareholders hold significant stakes, with China Railway Container Transport Co., Ltd. owning 207,554,700 shares, accounting for 15.90% of total shares[86]. Accounting and Reporting - The company’s financial statements are prepared based on the accrual basis of accounting, reflecting the financial position as of June 30, 2020[176]. - The company’s accounting period follows the calendar year, from January 1 to December 31[177]. - The company operates under a 12-month business cycle[178]. - The company’s reporting currency is Renminbi, while its overseas subsidiaries use Euro as their reporting currency[179].

Financial Performance - Operating revenue increased by 24.20% to CNY 4,225,960,849.00 year-on-year[11] - Net profit attributable to shareholders rose by 13.75% to CNY 140,894,496.77 compared to the same period last year[11] - Basic and diluted earnings per share increased by 13.68% to CNY 0.108[11] - The company reported a revenue of CNY 4,225,960,849.00 for Q1 2020, up from CNY 3,402,514,210.61 in Q1 2019, marking a growth of about 24.2%[31] - Net profit for the first quarter was CNY 139,493,609.68, compared to CNY 123,662,347.44 in the previous year, reflecting a growth of approximately 12.8%[36] - Earnings per share (EPS) for the first quarter was CNY 0.108, an increase from CNY 0.095 year-over-year, representing a growth of about 13.7%[38] - The total comprehensive income for the first quarter was CNY 139,487,729.99, compared to CNY 124,235,079.01 in the same quarter of the previous year, indicating an increase of approximately 12.2%[38] Cash Flow - Net cash flow from operating activities improved significantly, reaching CNY 59,189,709.77, a 406.66% increase from the previous year[11] - The net cash flow from operating activities for Q1 2020 was CNY 59,189,709.77, a significant improvement from a negative cash flow of CNY 19,301,716.77 in Q1 2019[46] - Cash received from operating activities related to other business amounted to CNY 64,240,405.66, compared to CNY 30,544,910.25 in the previous year, showing an increase of over 109%[46] - The cash outflow from investing activities in Q1 2020 was CNY 333,739,640.31, compared to CNY 518,908,628.30 in Q1 2019, indicating a reduction of approximately 35.6%[46] - The cash flow from financing activities included cash payments for dividends and interest totaling CNY 26,667,741.37, compared to CNY 4,765,848.72 in Q1 2019, reflecting an increase of over 460%[46] Assets and Liabilities - Total assets decreased by 8.56% to CNY 9,044,582,544.83 compared to the end of the previous year[11] - The company's total assets decreased to ¥9,044.58 million from ¥9,891.67 million, indicating a reduction in overall asset value[1] - Total liabilities decreased to CNY 2,911,244,808.45 from CNY 3,897,816,071.88, indicating a reduction of about 25.4%[30] - The company’s total non-current liabilities amounted to CNY 757,484,328.86, up from CNY 735,198,909.46, indicating an increase of about 3.4%[30] - Total current assets reached CNY 3,054,681,257.33, compared to CNY 2,962,771,692.95, reflecting an increase of about 3.1%[30] Shareholder Information - The total number of shareholders at the end of the reporting period was 97,664[13] - The top shareholder, China Railway Container Transport Co., Ltd., holds 15.90% of the shares[13] Government Support and Other Income - The company received government subsidies amounting to CNY 11,131,528.18 during the reporting period[11] - Other income increased significantly by 1,025.04% to ¥1,121.44 million, mainly from increased government subsidies[1] Inventory and Receivables - Accounts receivable rose to ¥28,553.84 million, reflecting a 57.07% increase due to higher logistics service receivables[1] - Prepayments increased by 80.06% to ¥36,557.02 million, attributed to higher advance payments for goods[1] - Inventory decreased by 33.34% to ¥201,301.51 million, primarily due to a reduction in entrusted processing products[1] - Other receivables increased by 63.46% to ¥6,808.15 million, driven by an increase in VAT receivables[1] Changes in Financial Standards - The company has implemented new revenue recognition standards effective January 1, 2020, which may impact future financial reporting[64]

Financial Performance - The company's operating revenue for 2019 was CNY 16,368,454,209.34, an increase of 4.67% compared to CNY 15,638,441,903.30 in 2018[22] - The net profit attributable to shareholders of the listed company was CNY 454,675,457.64, a decrease of 10.48% from CNY 507,919,954.33 in the previous year[22] - The net cash flow from operating activities was CNY 741,767,389.50, down 12.43% from CNY 847,022,092.04 in 2018[22] - The total assets at the end of 2019 were CNY 9,891,666,078.27, reflecting a 3.23% increase from CNY 9,582,272,699.71 at the end of 2018[22] - The net assets attributable to shareholders of the listed company increased by 5.35% to CNY 5,971,162,208.75 from CNY 5,667,957,875.28 in 2018[22] - Basic earnings per share for 2019 were CNY 0.348, a decrease of 10.54% compared to CNY 0.389 in 2018[23] - The weighted average return on net assets was 7.816%, down 1.476 percentage points from 9.292% in the previous year[23] - The company reported a decrease in net profit after deducting non-recurring gains and losses, amounting to CNY 435,118,686.38, down 8.99% from CNY 478,078,919.94 in 2018[22] Business Segments - The special container logistics business accounted for 31.71% of the gross profit during the reporting period[31] - The rail freight and port logistics business contributed 36.94% to the gross profit, with a stable growth in cargo volume[31] - The company completed a total of 158.85 million TEUs in the special container segment, marking a 22.00% increase year-on-year[37] - The rail freight volume reached 55.789 million tons, an increase of 2.55% compared to the previous year[39] - The gross profit from the rail freight and port logistics business was 370 million RMB, a decrease of 16.48% year-on-year[39] - The revenue from the railway special container business was 1.730 billion RMB, an increase of 22.75% year-on-year[50] Investments and Cash Flow - The investment cash flow improved by 66.46%, with a net outflow of 223.79 million RMB[46] - The company has invested 642.83 million yuan in purchasing special railway containers, with a total investment of 642.83 million yuan[72] - The cold chain logistics base project has a total investment of 863 million yuan, with 157.88 million yuan invested in the current year[72] - The company has entrusted 30,000.00 million RMB of its own funds for bank wealth management[107] - The company has invested a total of 5,000,000 RMB in various bank wealth management products with an annualized return rate ranging from 3.70% to 4.05%[109] Corporate Governance and Management - The company has established a comprehensive and effective corporate governance structure in compliance with relevant laws and regulations[163] - The company has a structured remuneration system for directors and senior management, which is based on performance evaluations[153] - The company has undergone changes in its board of directors and supervisory board, with several new appointments due to retirements and work changes[154] - The company is focused on maintaining strong governance with independent directors and supervisors actively involved in oversight[139] Shareholder Information - The company maintained a cash dividend policy with a cash distribution of 143.61 million RMB for 2019, representing 31.58% of the net profit attributable to shareholders[88] - The total number of ordinary shareholders at the end of the reporting period was 102,201, an increase from 98,761 at the end of the previous month[127] - The top shareholder, China Railway Container Transport Co., Ltd., holds 207,554,700 shares, accounting for 15.90% of total shares[128] Risk Management - The company has disclosed potential risks in its future development in the report, urging investors to be cautious[8] - The company’s special container business and port logistics segments are expected to face challenges due to ongoing industry adjustments and the impact of international trade tensions[82] Social Responsibility - The company has provided assistance to 155 individuals in poverty alleviation efforts, with a total expenditure of 553,800 RMB during the reporting period[116] - The company has allocated 1.78 million RMB to support 10 impoverished students as part of its educational poverty alleviation initiatives[117] - The company has committed to continuing its poverty alleviation activities, establishing a four-level assistance mechanism to address specific issues faced by different impoverished groups[121]

2019 年第三季度报告 公司代码：600125 公司简称：铁龙物流 中铁铁龙集装箱物流股份有限公司 2019 年第三季度报告 1 / 24 2019 年第三季度报告 一、 重要提示 二、 公司基本情况 三、 重要事项 四、 附录… 目录 2 / 24 2019 年第三季度报告 一、 重要提示 1.1 公司董事会、监事会及董事、监事、高级管理人员保证季度报告内容的真实、准 确、完整，不存在虚假记载、误导性陈述或者重大遗漏，并承担个别和连带的法 律责任。 1.2 公司全体董事出席董事会审议季度报告。 1.3 公司负责人辛明、主管会计工作负责人吴琼及会计机构负责人（会计主管人员） 毕晶保证季度报告中财务报表的真实、准确、完整。 1.4 本公司第三季度报告未经审计。 二、 公司基本情况 2.1 主要财务数据 | --- | --- | --- | --- | --- | |-----------------------------------------------|------------------------------|------------------------------------|------- ...

Financial Performance - The company's operating revenue for the first half of 2019 was CNY 7,770,824,896.87, representing a 1.29% increase compared to CNY 7,671,781,168.43 in the same period last year[21]. - The net profit attributable to shareholders of the listed company decreased by 4.30% to CNY 265,713,203.84 from CNY 277,642,964.67 year-on-year[21]. - Basic earnings per share for the first half of 2019 were CNY 0.204, down 4.23% from CNY 0.213 in the same period last year[22]. - The weighted average return on net assets decreased by 0.557 percentage points to 4.581% compared to 5.138% in the previous year[22]. - The company reported a total of CNY 12,623,603.52 in non-recurring gains and losses for the reporting period[25]. - The company achieved operating revenue of 7.77 billion RMB, an increase of 1.29% year-on-year[36]. - The net profit attributable to shareholders was 266 million RMB, a decrease of 4.30% year-on-year[36]. - The gross profit margin for the railway special container business was 20.08%, down 2.42 percentage points from the previous year[37]. - The railway freight and port logistics business generated a gross profit margin of 18.08%, decreasing by 2.37 percentage points year-on-year[37]. - The company completed a total of 738,900 TEUs in the railway special container business, a growth of 34.66% compared to the previous year[39]. - The total freight volume for the railway freight and port logistics business was 26.25 million tons, an increase of 2.46% year-on-year[40]. - The company reported a gross profit of 1.10 billion RMB from the entrusted processing trade business, an increase of 30.37% year-on-year[41]. - The real estate business generated revenue of 223 million RMB, a decrease of 19.39% year-on-year[44]. - The other business segment saw revenue increase by 87.29% year-on-year, reaching 49 million RMB[45]. Cash Flow and Financial Position - The net cash flow from operating activities significantly dropped by 70.24% to CNY 192,981,440.81 compared to CNY 648,401,243.31 in the previous year[21]. - The net cash flow from operating activities decreased due to increased material and logistics expenses[49]. - The net cash flow from investing activities increased year-on-year due to a net recovery of funds from short-term financial management[49]. - The net cash flow from financing activities increased due to the repayment of part of the bank loans and an increase in dividend distribution[49]. - The company's total assets at the end of the reporting period amounted to 1,000,000,000 CNY, with fixed assets accounting for 39.41%[53]. - The company's accounts receivable financing was 83,301,000 CNY, representing 0.86% of total assets[53]. - The company’s prepayments for purchases increased by 104.98% year-on-year to 341,300,000 CNY[53]. - The company’s short-term borrowings decreased by 82.14% to 50,000,000 CNY[53]. - The company’s investment in equity at the end of the reporting period was 57,119,544.42 CNY, remaining stable compared to the previous year[57]. - The company invested 121,894.21 million CNY in major projects, including 35,594.21 million CNY for special railway containers[58]. - The total current assets decreased to approximately 4.93 billion RMB from 5.01 billion RMB at the end of the previous year[117]. - The company's cash and cash equivalents decreased to approximately 792.29 million RMB from 1.12 billion RMB year-over-year[117]. - Total liabilities decreased to ¥3,845,662,349.14 from ¥3,890,834,706.30, a decline of approximately 1.16%[121]. - Shareholders' equity increased to ¥5,805,926,181.13 from ¥5,691,437,993.41, reflecting a growth of about 2.00%[121]. Corporate Governance and Compliance - The company has retained the auditing firm for the 2019 financial report and internal control audit[72]. - The financial statements were approved by the company's board on August 28, 2019, indicating ongoing compliance with regulatory requirements[182]. - The financial statements are prepared based on the accounting standards issued by the Ministry of Finance and comply with the requirements of the China Securities Regulatory Commission[185]. - The consolidated financial statements include all subsidiaries controlled by the company[200]. - The group follows specific accounting policies for fixed asset depreciation, intangible asset amortization, and revenue recognition[187]. Market and Strategic Focus - The company is focusing on enhancing operational quality and risk management in response to market challenges[32]. - The logistics industry in China is facing challenges such as structural adjustments and cost reduction, with market growth expected to slow below economic growth rates[64]. - The company emphasizes the importance of integrated supply chain solutions rather than just logistics operations to enhance competitiveness[64]. - The company is accelerating the construction of an information logistics system platform to improve operational efficiency and transparency[64]. - The company is focusing on improving efficiency and reducing costs through intelligent technology across all logistics processes[64]. - The company plans to continue its market expansion strategy in the upcoming quarters[157]. - The company is focusing on new product development to enhance its competitive edge in the market[157]. Social Responsibility - During the reporting period, the company provided assistance to 33 individuals in need, with a total of CNY 336,900 allocated for aid[84]. - The company plans to continue its poverty alleviation efforts in the second half of 2019, aiming for half of the struggling employees to overcome their difficulties by the end of the year[87]. - The company has invested CNY 18,750,000 in targeted poverty alleviation initiatives[85].

Financial Performance - Operating revenue for the period was ¥3,402,514,210.61, representing an 18.01% increase compared to the same period last year[8]. - Net profit attributable to shareholders of the listed company was ¥123,866,696.11, a decrease of 3.61% year-on-year[8]. - Basic earnings per share decreased by 3.06% to ¥0.095 from ¥0.098 in the same period last year[8]. - The weighted average return on equity was 2.162%, down from 2.412% year-on-year[8]. - The company anticipates continued growth in entrusted processing and logistics services, contributing positively to future revenue streams[15]. - Total revenue for Q1 2019 reached ¥3,402,514,210.61, an increase of 18.0% compared to ¥2,883,319,267.10 in Q1 2018[28]. - The net profit for Q1 2019 was CNY 70,458,549.76, representing a 22.1% increase from CNY 57,646,185.92 in Q1 2018[31]. - The total profit for Q1 2019 was CNY 93,849,889.41, up from CNY 77,319,878.82 in Q1 2018, marking a growth of 21.5%[31]. Assets and Liabilities - Total assets at the end of the reporting period reached ¥9,621,327,229.87, an increase of 0.41% compared to the end of the previous year[8]. - The total liabilities decreased to ¥3,801,175.21 million from ¥3,890,834.70 million, reflecting a reduction in short-term borrowings and accounts payable[21]. - Total assets as of March 31, 2019, amounted to ¥7,295,907,807.46, a decrease from ¥7,586,033,576.62 at the end of 2018[28]. - Total liabilities decreased to ¥1,713,762,182.34 in Q1 2019 from ¥2,077,917,832.69 in Q1 2018, indicating a reduction of 17.5%[26]. - Total current assets were reported at 5,007,486,739.34 RMB, a decrease from 5,013,465,828.18 RMB[43]. - Total non-current assets amounted to 4,574,785,960.37 RMB, reflecting a decrease of 632,224.32 RMB[43]. - Total liabilities amounted to approximately ¥3.89 billion, with current liabilities totaling ¥2.65 billion[45]. Cash Flow - Net cash flow from operating activities improved significantly to -¥19,301,716.77, an 88.32% increase compared to -¥165,266,580.86 in the previous year[8]. - The cash inflow from operating activities was CNY 3,197,972,513.08, an increase of 13% compared to CNY 2,828,952,248.97 in Q1 2018[35]. - The total cash outflow for operating activities was CNY 3,217,274,229.85, an increase from CNY 2,994,218,829.83 in the same quarter last year[35]. - The net cash flow from investment activities was -CNY 83,983,694.19, worsening from -CNY 10,112,401.05 year-over-year[35]. - The net cash flow from financing activities was -CNY 234,765,848.72, a decline from CNY 149,003,476.18 in the previous year[37]. Shareholder Information - Net assets attributable to shareholders of the listed company amounted to ¥5,796,980,870.57, reflecting a growth of 2.28% year-on-year[8]. - The total number of shareholders at the end of the reporting period was 103,309[12]. - Major shareholders included China Railway Container Transport Co., Ltd. with a 15.90% stake and Dalian Railway Economic and Technological Development Co., Ltd. with a 14.11% stake[12]. - Total equity attributable to shareholders rose to ¥5,582,145,625.12 from ¥5,508,115,743.93, an increase of 1.3%[28]. Costs and Expenses - Operating costs increased to ¥311,616.05 million, reflecting an 18.09% rise from ¥263,887.53 million, primarily due to increased costs in entrusted processing and logistics[15]. - The company reported a significant increase in sales expenses, which rose by 159.04% to ¥6,815.33 million from ¥2,630.96 million, mainly due to increased logistics costs in entrusted processing[15]. - The tax expenses for Q1 2019 amounted to CNY 23,391,339.65, compared to CNY 19,673,692.90 in Q1 2018, indicating an increase of 18.0%[31]. - The company reported a decrease in financial expenses to CNY 7,923,015.97 in Q1 2019 from CNY 9,537,145.72 in Q1 2018[31].

Financial Performance - In 2018, the company's operating revenue reached CNY 15.64 billion, an increase of 33.85% compared to CNY 11.68 billion in 2017[20] - The net profit attributable to shareholders was CNY 507.92 million, representing a growth of 53.54% from CNY 330.80 million in the previous year[20] - The net cash flow from operating activities was CNY 847.02 million, a significant increase of 134.56% compared to CNY 361.12 million in 2017[20] - The total assets at the end of 2018 amounted to CNY 9.58 billion, an increase of 8.56% from CNY 8.83 billion at the end of 2017[20] - The company's net assets attributable to shareholders increased by 7.66% to CNY 5.67 billion from CNY 5.26 billion in 2017[20] - Basic earnings per share rose to CNY 0.389, a 53.75% increase from CNY 0.253 in 2017[21] - The weighted average return on equity improved to 9.29%, up by 2.85 percentage points from 6.44% in the previous year[21] - The company reported a quarterly revenue of CNY 4.79 billion in Q2 2018, the highest among the four quarters[23] - The company achieved a revenue of 15.638 billion yuan, representing a year-on-year growth of 33.85%[33] - The net profit attributable to shareholders reached 508 million yuan, an increase of 53.54% compared to the previous year[33] Business Segments - The company’s special container logistics business accounted for 27.73% of gross profit in 2018[28] - The gross profit margin for the railway freight and port logistics business increased significantly, reaching 44.48% in 2018[28] - The revenue from the railway special container business was 1.41 billion RMB, up 15.09% year-on-year, with a gross profit margin increase of 0.95 percentage points[44] - The railway freight and port logistics business generated 2.44 billion RMB in revenue, a 117.01% increase year-on-year, although the gross margin decreased by 2.30 percentage points[45] - The company sold 1.66 million tons of processed steel, achieving a revenue of 11.28 billion RMB, which is a 26.83% increase year-on-year[45] - The real estate business reported a revenue of 369 million RMB, reflecting a 9.60% growth compared to the previous year[47] Strategic Initiatives - The company initiated the "Internet + Efficient Logistics" project, which is part of its strategy to enhance operational efficiency[31] - The company is actively promoting the cold chain logistics national demonstration project and expanding its international logistics network centered around Hamburg, Germany[37] - The company aims to increase national railway cargo volume by 1.1 billion tons and waterway cargo volume by 500 million tons by 2020[59] - The company plans to enhance the proportion of railway access for major bulk cargo enterprises and new logistics parks to over 80% by 2020[59] - The company is focusing on technological upgrades and the application of modern technologies such as big data and IoT to enhance logistics efficiency[68] Dividend and Shareholder Information - The company plans to distribute a cash dividend of CNY 1.20 per 10 shares, pending approval at the annual general meeting[5] - In 2018, the company distributed cash dividends amounting to 156,662,624.88 RMB, representing 30.84% of the net profit attributable to ordinary shareholders[78] - The cash dividend per share for 2018 was 1.20 RMB, while the previous years were 0.80 RMB in 2017 and 0.60 RMB in 2016[78] - The total number of ordinary shareholders at the end of the reporting period was 111,726, an increase from 105,761 at the end of the previous month[111] - The largest shareholder, China Railway Container Transport Co., Ltd., holds 207,554,700 shares, representing 15.90% of the total shares[113] Financial Management and Investments - The company has consistently utilized self-owned funds for wealth management, indicating a stable financial strategy[92] - The company reported a total of 6,300 million RMB in entrusted loans, with an outstanding balance of 5,300 million RMB[95] - The company has a total of 20 wealth management products listed, indicating a robust investment portfolio[92] - The company has established a dedicated team to manage bond repayment, ensuring timely and full payment of interest and principal[155] - The company maintains a strong cash flow from operations, ensuring the ability to meet bond interest payments and principal repayments[154] Challenges and Market Outlook - The company faces significant challenges due to economic conditions, including the impact of the trade war and adjustments in the railway transportation pricing system[73] - Despite a favorable policy outlook for 2019, the company emphasizes a cautious and steady market approach, focusing on transportation structure adjustments and green development opportunities[73] - The company acknowledges uncertainties in new product development and technology promotion, committing to thorough research and gradual implementation[73] Corporate Governance and Compliance - The company has established a complete and effective corporate governance structure in compliance with relevant laws and regulations[140] - The board of directors held a total of 6 meetings during the year, with 3 conducted in person and 3 via communication methods[143] - The company has not faced any penalties from securities regulatory agencies in the past three years[133] - The company has not reported any changes in its ordinary share capital structure during the reporting period[107] Employee and Social Responsibility - The company provided assistance to 137 individuals in need, allocating a total of 788,400 RMB in aid during the reporting period[98] - The company supported 18 impoverished students with a total investment of 33,800 RMB for educational assistance[100] - The company has actively engaged in poverty alleviation initiatives, aligning with national goals for poverty reduction[97] - The company has implemented a mechanism for helping employees with medical expenses, reducing their financial burden[98]