Financial Performance - The company's operating revenue for Q3 2022 was approximately ¥19.75 billion, a decrease of 2.69% compared to ¥20.30 billion in the same period last year[7]. - Net profit attributable to shareholders was approximately ¥20.27 million, down 95.97% from ¥499.37 million year-on-year[7]. - The net profit attributable to shareholders after deducting non-recurring gains and losses was approximately ¥18.53 million, a decline of 90.99% compared to ¥205.58 million in the previous year[7]. - The basic earnings per share for Q3 2022 was ¥0.0094, a decrease of 95.94% from ¥0.2302 in the same period last year[9]. - The company reported a decrease in net profit attributable to shareholders of 29.80% for the year-to-date, primarily due to reduced asset disposal gains and poor performance in joint ventures[17]. - Net profit for Q3 2022 was ¥483.37 million, a decrease of 12.8% compared to ¥554.25 million in Q3 2021[36]. - The total comprehensive income attributable to the parent company was CNY 471,917,073.19, a decrease from CNY 730,000,332.05 in the previous period, representing a decline of approximately 35.4%[38]. - The basic earnings per share were CNY 0.2132, down from CNY 0.3037, representing a decline of approximately 29.7%[38]. - The company reported a total comprehensive income of CNY 493,902,116.86, down from CNY 625,128,360.84, a decrease of about 21.0%[38]. - The total comprehensive income for the first three quarters of 2022 was CNY 444,382,458.83, compared to CNY 627,483,668.90 in the same period of 2021, representing a decrease of approximately 29.1%[58]. Assets and Liabilities - The total assets at the end of the reporting period were approximately ¥25.27 billion, an increase of 8.97% from ¥23.19 billion at the end of the previous year[11]. - Total current assets as of September 30, 2022, are ¥11,965,313,587.44, compared to ¥9,962,782,527.97 at the end of 2021, reflecting a growth of approximately 19.96%[28]. - The total non-current assets as of September 30, 2022, are ¥13,300,871,929.06, slightly up from ¥13,222,664,478.44 at the end of 2021[28]. - Total liabilities increased to ¥11.44 billion, up 14.8% from ¥9.96 billion year-over-year[31]. - The company's total liabilities rose to ¥7,888,903,831.11, compared to ¥7,447,561,269.32, indicating an increase of 5.9%[52]. Cash Flow - The net cash flow from operating activities for the year-to-date was approximately ¥1.11 billion, an increase of 123.77% compared to ¥496.78 million in the previous year[9]. - The net cash flow from operating activities increased to CNY 1,111,647,459.49, compared to CNY 496,780,544.40 in the same period last year, marking a growth of approximately 123.5%[42]. - The net cash flow from investing activities was negative at CNY -343,882,847.81, compared to CNY -504,621,484.61 in the previous year, showing an improvement of approximately 31.9%[45]. - The net cash flow from financing activities was CNY 403,687,165.05, down from CNY 546,175,356.15, reflecting a decrease of about 26.1%[45]. - The company's cash and cash equivalents as of September 30, 2022, amount to ¥3,835,155,225.42, an increase from ¥2,390,381,780.43 at the end of 2021[25]. - The total cash and cash equivalents at the end of the period amounted to CNY 3,307,165,311.44, an increase from CNY 1,878,242,343.68, indicating a growth of approximately 76.0%[45]. - The company's cash outflow for operating activities totaled CNY 66,337,336,655.77, compared to CNY 64,739,652,964.33 in the previous year, an increase of about 2.5%[42]. - Cash inflows from operating activities amounted to CNY 23,923,329,376.66, an increase of 14.4% from CNY 20,914,133,196.01 in the previous year[58]. - The net cash flow from operating activities was CNY 157,547,521.67, a significant improvement from a net outflow of CNY 767,016,129.63 in the same period of 2021[58]. Shareholder Information - The total number of common shareholders at the end of the reporting period is 63,709[21]. - The largest shareholder, China Materials Storage and Transportation Group Co., Ltd., holds 1,006,185,716 shares, accounting for 45.94% of the total shares[21]. - The company's equity attributable to shareholders reached ¥12.83 billion, a slight increase from ¥12.74 billion[33]. - The total owner's equity reached ¥11,913,811,092.47, a slight increase from ¥11,809,708,812.42, reflecting a growth of 0.9%[52]. Operational Efficiency - The company has implemented effective measures to optimize operations, reduce procurement scale, and accelerate sales collection, contributing to improved cash flow[20]. - The company is actively responding to national policies supporting small and micro enterprises, which has led to a reduction in rental expenses and contributed to the decline in profits[20]. - Research and development expenses rose to ¥40.58 million, an increase of 42.7% from ¥28.43 million in the previous year[36]. - The company reported a decrease in research and development expenses, although specific figures were not provided, indicating a potential shift in focus or efficiency improvements[56]. - The company reported a decrease in interest expenses to ¥96.76 million from ¥161.13 million, reflecting a 40% reduction[36]. Future Outlook - Future outlook includes plans for market expansion and potential new product launches to drive revenue growth[36].

证券代码：600787 证券简称：中储股份 编号：临 2022-066 号 中储发展股份有限公司 关于接待机构投资者调研情况的公告 本公司董事会及全体董事保证本公告内容不存在任何虚假记载、误导性陈述或者 重大遗漏，并对其内容的真实性、准确性和完整性承担法律责任。 中储发展股份有限公司（以下简称"公司"）于 2022 年 9 月 22 日通过现场及视 频会议交流形式接待了机构投资者调研，现将具体情况公告如下： 一、调研基本情况 调研时间：2022 年 9 月 22 日 调研地点：中储南京智慧物流科技有限公司（公司下属子公司，以下简称"中储 智运"） 调研方式：现场及视频会议交流 调研机构名称（排名不分先后）：申银万国证券、上海宁泉资产、上海从容投资、 华创证券、交银施罗德基金、兴业证券、中信建投证券、长江证券、紫金信托、景林投 资、双安投资、太平洋资产、富国基金、鹏扬基金、中泰证券、广发证券、小水牛基金、 上海长富投资、国都证券等 19 家机构。 公司接待人员：公司总会计师武凯先生、董事会秘书彭曦德先生、财务部总经理盛 在旺先生、证券部总经理（证券事务代表）郑佳珍女士；中储智运董事、总裁申岸锋先 生、创始人兼首 ...

证券代码：600787 证券简称：中储股份 编号：临 2022-064 号 中储发展股份有限公司 关于参加"2022 年度天津辖区上市公司半年报业绩说明会 与投资者网上集体接待日"活动的公告 本公司董事会及全体董事保证本公告内容不存在任何虚假记载、误导性陈述或者 重大遗漏，并对其内容的真实性、准确性和完整性承担法律责任。 重要内容提示： 会议召开时间：2022 年 9 月 6 日（周二）下午 15:00-16:30 会议召开地点：全景路演（http://rs.p5w.net） 会议召开方式：网络互动交流方式 中储发展股份有限公司（以下简称"公司"）于 2022 年 8 月 25 日披露了《中储发 展股份有限公司 2022 年半年度报告》全文及其摘要。为便于广大投资者更深入全面地 了解公司情况、进一步加强与投资者的沟通交流，公司将参加由天津证监局主办、天 津上市公司协会与深圳市全景网络有限公司协办的"2022 年度天津辖区上市公司半年 报业绩说明会与投资者网上集体接待日"活动，现将有关事项公告如下： 本 次 活 动 将 采 用 网 络 远 程 的 方 式 举 行 ， 投 资 者 可 登 录 " 全 景 路 演 ...

Financial Performance - The company's operating revenue for the first half of 2022 reached ¥38.76 billion, an increase of 16.99% compared to the same period last year[27]. - Net profit attributable to shareholders was ¥442.32 million, representing a significant increase of 182.56% year-on-year[27]. - The net profit after deducting non-recurring gains and losses was ¥179.66 million, up 27.61% from the previous year[27]. - Basic earnings per share for the first half of 2022 were ¥0.2038, a rise of 182.66% compared to the same period last year[28]. - Diluted earnings per share also stood at ¥0.2038, marking the same percentage increase as basic earnings[28]. - The company reported a significant increase in labor and production costs, which could pressure profit margins in the logistics industry[90]. - The company reported a total of ¥199,223.97 million in committed project funds, with ¥6,328.61 million invested during the reporting period[77]. - The company reported a financial expense of ¥43,979,802.56 for the first half of 2022, down from ¥69,914,879.61 in the previous year, showing a reduction of 37.1%[196]. Cash Flow and Assets - The net cash flow from operating activities was ¥289.93 million, a recovery from a negative cash flow of ¥1.11 billion in the same period last year[27]. - Cash and cash equivalents at the end of the period reached ¥3,686,741,006.96, accounting for 14.21% of total assets, a 54.23% increase compared to the previous year[67]. - Total assets increased to ¥25,937,872,184.84, up from ¥23,185,447,006.41, representing a growth of approximately 11.93%[181]. - Current assets totaled ¥12,652,058,091.95, compared to ¥9,962,782,527.97, reflecting an increase of about 27.00%[181]. - Total liabilities reached ¥11,782,943,038.59, up from ¥9,955,196,969.43, indicating a growth of around 18.36%[183]. - The company's cash and cash equivalents were reported at CNY 1,995,461,466.96, a slight decrease from CNY 2,036,659,186.12[188]. Logistics and Operations - The total social logistics volume in the first half of the year was approximately 160 trillion CNY, showing a year-on-year growth of 3.1%[35]. - The total revenue of the logistics industry reached 6 trillion CNY, with a year-on-year increase of 6.1%[35]. - The company operates a warehousing network with a capacity of 60 million tons annually and has invested in logistics parks across over 20 provinces, directly supporting global operations for enterprises[47]. - The logistics platform has developed a digital supply chain public platform utilizing blockchain technology for data management across supply chain entities[43]. - The company has established long-term cooperation with major domestic futures exchanges, with significant warehouse capacities for various commodities, including 390,600 tons of copper and 258,500 tons of aluminum[40]. Technology and Innovation - The company has invested in technology innovation, focusing on blockchain and big data to enhance supply chain efficiency and customer experience[47]. - The company launched several technology projects, including a logistics index network and an intelligent pricing system, to enhance operational efficiency[54]. - The company is focusing on digital transformation, with ongoing upgrades to its logistics management systems and the integration of IoT technologies[57]. - The company has 99 patents, including 8 invention patents, and 37 software copyrights, showcasing its commitment to innovation[51]. Environmental and Social Responsibility - The company has established management measures for hazardous chemicals and conducts at least one on-site inspection annually to ensure compliance with environmental regulations[101]. - The company has developed an emergency response plan for environmental incidents, which has been reviewed by experts and filed with local authorities[105]. - The company aims to promote green and low-carbon production methods, conducting various energy-saving and low-carbon promotional activities[109]. - The solar photovoltaic project initiated by the company's subsidiary is expected to save 28,800 tons of standard coal annually and reduce CO2 emissions by 7,976 tons once operational[112]. Corporate Governance and Shareholder Relations - The company has committed to support and adhere to the dividend distribution policy, agreeing to a clause for annual cash distribution of no less than 10% of the distributable profit[124]. - The company has made commitments to avoid and regulate related party transactions to protect the interests of minority shareholders[124]. - The company appointed Fang Yongbin as the chairman and Wang Haibin as a director in July 2022[95]. - The company has established measures to avoid competition with its controlling shareholder, ensuring differentiated trade strategies[124]. Legal Matters - The company won a lawsuit against Zhangjiakou DeTai Quan Special Steel Group Co., Ltd., involving an amount of RMB 120,257,000, with full bad debt provision already made[127]. - The company has a pending lawsuit against Tianjin Development Zone Qisheng Mineral Import and Export Trade Co., Ltd., with a judgment amount of RMB 13,977,006.78, and full bad debt provision made for unexecuted amounts[127]. - The company is involved in a lawsuit regarding the management of 38,000 tons of steel billets, with a compensation claim of approximately RMB 87.88 million[130].

Financial Performance - The company's operating revenue for Q1 2022 was ¥15,816,235,847.54, representing a 20.04% increase compared to ¥13,175,934,276.45 in the same period last year[6] - Net profit attributable to shareholders was ¥325,898,221.72, a significant increase of 479.21% from ¥51,808,875.80 in the previous year[6] - The net profit after deducting non-recurring gains and losses was ¥68,192,446.53, up 41.58% from ¥48,164,335.80 year-on-year[8] - Basic and diluted earnings per share were both ¥0.1502, reflecting a 479.21% increase compared to ¥0.0239 in the same period last year[8] - Operating profit for Q1 2022 reached approximately $441.68 million, significantly higher than $79.77 million in Q1 2021[32] - Net profit for Q1 2022 was approximately $330.71 million, compared to $59.70 million in the same period last year, reflecting a growth of 453.5%[32] - The total comprehensive income for Q1 2022 was approximately $329.38 million, compared to $58.41 million in Q1 2021, showing a significant increase in overall financial performance[32] Assets and Liabilities - Total assets at the end of the reporting period were ¥25,500,740,947.39, a 9.99% increase from ¥23,185,447,006.41 at the end of the previous year[8] - Total liabilities rose to approximately $11.48 billion in Q1 2022, compared to $9.96 billion in Q1 2021, marking an increase of 15.3%[28] - The total liabilities increased, with accounts payable rising to RMB 772 million from RMB 670 million, reflecting a growth of approximately 15.3%[24] - The company reported a total non-current asset value of RMB 13.25 billion, slightly up from RMB 13.22 billion[24] Cash Flow - The net cash flow from operating activities was -¥703,200,733.94, an improvement from -¥1,530,668,372.10 in the same period last year[8] - In Q1 2022, the cash inflow from operating activities was approximately CNY 19.17 billion, an increase of 8.76% compared to CNY 15.80 billion in Q1 2021[34] - The net cash outflow from operating activities was CNY -703.20 million, an improvement from CNY -1.53 billion in the previous year[34] - The total cash and cash equivalents at the end of Q1 2022 stood at CNY 1.56 billion, an increase from CNY 1.06 billion at the end of Q1 2021[36] Shareholder Information - The total number of ordinary shareholders at the end of the reporting period was 57,162[14] - The company has no known related party relationships among the top shareholders, ensuring transparency in ownership[24] Operational Efficiency - The company attributed the significant increase in net profit to enhanced market development and improved cost control, alongside increased asset management efficiency[13] - Research and development expenses increased to approximately $11.04 million in Q1 2022, up from $1.99 million in Q1 2021, indicating a focus on innovation[29] - The company reported a significant increase in cash received from sales and services, reaching CNY 17.80 billion in Q1 2022, compared to CNY 15.21 billion in Q1 2021[34] - The company experienced a decrease in cash paid to employees, totaling CNY 309.10 million, down from CNY 339.50 million in the previous year[36]

Financial Performance - The company's operating revenue for 2021 was ¥75.23 billion, representing a 54.12% increase compared to ¥48.82 billion in 2020[24]. - The net profit attributable to shareholders for 2021 was ¥880.95 million, a 52.29% increase from ¥578.46 million in 2020[24]. - The net profit after deducting non-recurring gains and losses was ¥313.22 million, showing a significant increase of 386.21% compared to ¥64.42 million in 2020[24]. - The net cash flow from operating activities reached ¥1.80 billion, up 54.44% from ¥1.17 billion in 2020[24]. - The total assets at the end of 2021 were ¥23.19 billion, an 8.99% increase from ¥21.27 billion at the end of 2020[24]. - The net assets attributable to shareholders increased to ¥12.74 billion, reflecting a 7.76% growth from ¥11.82 billion in 2020[24]. - Basic earnings per share increased by 52.29% to CNY 0.4060 compared to the previous year[27]. - The total profit reached ¥98,883.23 million, representing a year-on-year increase of ¥22,782.32 million, or 29.94%[59]. - The company reported a net profit margin of 12%, up from 10% in the previous year, indicating improved cost management[134]. Revenue Growth - Total operating revenue for Q4 2021 reached CNY 21.81 billion, marking a continuous growth trend throughout the year[28]. - The company's main business revenue reached 75,166.10 million yuan, representing a growth of 54.19% year-on-year, with significant contributions from the logistics and supply chain sectors[37]. - The revenue from the company's intelligent logistics platform, 中储智运, reached 27.688 billion yuan, marking a year-on-year increase of 35.31%[41]. - The company achieved operating revenue of ¥75,232,639,715.52, an increase of 54.12% compared to the previous year[59]. - Revenue from the transportation sector reached ¥30,320,488,512.71, with a year-on-year growth of 32.10%[64]. - Revenue from the commodity circulation sector was ¥44,645,929,487.75, reflecting a year-on-year increase of 74.58%[64]. Operational Efficiency - The company has a standard unqualified audit report from Da Hua Certified Public Accountants[5]. - The board of directors has confirmed the accuracy and completeness of the annual report, ensuring no significant omissions or misleading statements[4]. - The company transitioned to fair value accounting for investment properties, enhancing data comparability[27]. - The company’s logistics index in December 2021 was 51.6%, indicating a stable and positive development trend in the warehousing industry[47]. - The company’s AGV equipment reached 51 units, improving efficiency by over 40%[43]. - The company’s digital supply chain public service platform completed its top-level design[43]. Investment and Expansion - The company plans to continue expanding its supply chain and logistics capabilities in response to market demands[86]. - The company launched 10 major investment projects, with 5 projects completed and put into operation[44]. - The company invested ¥12,858.38 million in various projects during the reporting period, with a cumulative actual investment of ¥182,600.47 million[94]. - The company is planning to transfer 10% equity of Pingdingshan Chengchu Logistics Co., Ltd.[147]. - The company is considering strategic acquisitions to bolster its market position, with potential targets identified in the logistics sector[137]. Risk Management and Compliance - The company is committed to risk management, emphasizing the importance of internal controls and prioritizing risk management activities in core business processes[114]. - The company has established a management system for related party transactions to minimize and regulate such transactions[123]. - The company has revised its governance structure and management regulations to enhance operational compliance and risk management[119]. - The company has developed a comprehensive risk management framework to address potential conflicts of interest and ensure compliance with regulations[119]. - The company acknowledges potential global economic risks, including supply chain disruptions and inflation, which could impact recovery efforts[115]. Sustainability and Environmental Initiatives - The company is committed to green, low-carbon development, aligning with national carbon peak and carbon neutrality goals[195]. - The company initiated a photovoltaic project in Linyi, which is expected to save 28,800 tons of standard coal annually and reduce CO2 emissions by 7,976 tons[195]. - The company invested 400,000 yuan in 2021 for industrial assistance in poverty alleviation in designated villages[197]. - The company aims to achieve 100% compliance in construction site management, including dust and noise control measures[194]. - The company has established strategic partnerships to advance its carbon reduction initiatives through renewable energy projects[195]. Employee and Management Structure - The total remuneration for directors, supervisors, and senior management was 8.4808 million yuan, with an actual payment of 5.8296 million yuan at the end of the reporting period[144]. - The company has implemented a stock incentive plan and management measures approved by the board and shareholders[119]. - The company’s remuneration policy links total compensation to economic performance, ensuring a reasonable growth in employee wages in line with company performance[166]. - The company has established a network university for employee training, aligning with its business development needs[167]. - The company reported a total of 4,937 employees, with 2,617 in the parent company and 2,320 in major subsidiaries[165].

Financial Performance - The company's operating revenue for Q3 2021 reached ¥20,297,523,221.23, representing a year-on-year increase of 48.62%[7] - The net profit attributable to shareholders for Q3 2021 was ¥499,373,896.02, a significant increase of 234.35% compared to the same period last year[7] - The net profit attributable to shareholders after deducting non-recurring gains and losses for Q3 2021 was ¥205,578,842.48, up 347.55% year-on-year[7] - The basic earnings per share for Q3 2021 was ¥0.2302, reflecting an increase of 233.62% compared to the same period last year[9] - Total operating revenue for the first three quarters of 2021 reached ¥53,427,914,231.64, a significant increase from ¥33,270,080,994.64 in the same period of 2020, representing a growth of approximately 60.7%[32] - The net profit for the third quarter of 2021 was approximately ¥542.76 million, compared to ¥262.47 million in the previous year, indicating a year-over-year increase of approximately 106.6%[35] - The total comprehensive income for the third quarter of 2021 was approximately ¥541.38 million, compared to ¥259.58 million in the previous year, marking an increase of about 108.7%[37] - The company reported a total operating profit of approximately ¥731.63 million for the third quarter of 2021, compared to ¥198.96 million in the same period of 2020, representing a growth of approximately 267.5%[35] Assets and Liabilities - The total assets at the end of Q3 2021 amounted to ¥25,367,068,781.98, an increase of 19.98% from the end of the previous year[9] - The total assets of the company amounted to ¥25,367,068,781.98, compared to ¥21,142,798,734.89 in the previous year, showing an increase of approximately 19.8%[27] - Total liabilities increased to ¥12,632,014,300.01 in 2021 from ¥8,960,451,743.06 in 2020, representing a growth of about 41.9%[27] - The total equity attributable to shareholders at the end of Q3 2021 was ¥12,261,953,762.09, reflecting a year-on-year increase of 4.57%[9] - The company's equity attributable to shareholders reached ¥12,261,953,762.09, compared to ¥11,725,867,066.74 in the previous year, indicating an increase of approximately 4.6%[27] - Long-term borrowings rose significantly to ¥1,410,000,000.00 in 2021 from ¥418,600,000.00 in 2020, reflecting an increase of about 236.5%[27] Cash Flow - The net cash flow from operating activities for the year-to-date period was ¥496,780,544.40[9] - The cash flow from operating activities for the third quarter of 2021 was approximately ¥496.78 million, a turnaround from a negative cash flow of ¥238.38 million in the same period of 2020[40] - The company’s cash inflow from financing activities was approximately ¥4.60 billion, while cash outflow was approximately ¥4.05 billion, leading to a net cash flow from financing activities of approximately ¥546.18 million[40] - The cash inflow from investment activities was approximately ¥66.07 million, while cash outflow was approximately ¥570.69 million, resulting in a net cash flow from investment activities of approximately -¥504.62 million[40] Shareholder Information - The total number of ordinary shareholders at the end of the reporting period is 50,782, with the largest shareholder, China Material Storage and Transportation Group Co., Ltd., holding 1,006,185,716 shares, representing 45.74% of the total[15] - The top ten shareholders hold a combined total of 1,192,000,000 shares, accounting for approximately 54.39% of the total shares outstanding[15] - The company has no known related party relationships among the top shareholders, ensuring independent shareholder actions[17] Investments and Expenses - The company confirmed investment income increased due to the good performance of joint ventures and the recognition of gains from land and property acquisitions during the reporting period[11] - Research and development expenses increased to ¥28,430,129.68 in 2021 from ¥4,570,155.66 in 2020, reflecting a growth of approximately 523.5%[32] - Investment income for the first three quarters of 2021 was ¥181,918,124.36, up from ¥42,229,827.03 in 2020, marking an increase of about 331.5%[32] Current Assets and Inventory - The company’s cash and cash equivalents as of September 30, 2021, amounted to RMB 2,271,125,426.04, an increase from RMB 1,649,166,799.39 at the end of 2020, reflecting a growth of approximately 37.5%[22] - The total current assets increased to RMB 12,700,121,732.71 as of September 30, 2021, compared to RMB 9,207,714,496.22 at the end of 2020, indicating a growth of about 37.1%[22] - The accounts receivable increased to RMB 1,634,176,595.60 as of September 30, 2021, compared to RMB 1,363,552,657.70 at the end of 2020, showing an increase of approximately 19.8%[22] - The inventory as of September 30, 2021, was RMB 3,203,134,550.54, significantly higher than RMB 1,357,937,191.02 at the end of 2020, representing an increase of about 135.5%[22] Legal Matters - The company has ongoing litigation involving a claim for approximately RMB 87,878,000 related to the management of pledged assets, which is currently under court review[18] Future Outlook - The company plans to continue expanding its market presence and investing in new technologies to drive future growth[32]

Financial Performance - The company's operating revenue for the first half of 2021 was CNY 33,126,399,243.40, representing a 69.00% increase compared to CNY 19,601,872,358.45 in the same period last year[24]. - The net profit attributable to shareholders of the listed company was CNY 148,094,753.73, an increase of 21.19% from CNY 122,200,792.23 in the previous year[24]. - The net profit attributable to shareholders after deducting non-recurring gains and losses was CNY 140,791,768.53, up 43.22% from CNY 98,304,701.98 year-on-year[24]. - Basic earnings per share for the first half of 2021 were CNY 0.0682, a 21.57% increase from CNY 0.0561 in the same period last year[24]. - The main business revenue reached CNY 33,091.99 million, with a year-on-year growth of 69.07%[45]. - The international freight forwarding revenue surged by 114.13% to CNY 118.16 million[45]. - The company's warehouse business revenue increased by 31.89% to CNY 408.73 million[45]. - The revenue from the logistics business "Zhongchu Logistics" was 12.544 billion RMB, representing a year-on-year increase of 51.04%[48]. Assets and Liabilities - The company's total assets at the end of the reporting period were CNY 24,516,626,030.63, a 15.96% increase from CNY 21,142,798,734.89 at the end of the previous year[24]. - The net assets attributable to shareholders of the listed company increased by 1.24% to CNY 11,871,290,710.97 from CNY 11,725,867,066.74 at the end of the previous year[24]. - Total liabilities reached CNY 12.15 billion, up from CNY 8.96 billion, representing an increase of about 35.5%[177]. - The company's equity attributable to shareholders rose to CNY 11.87 billion, compared to CNY 11.73 billion, reflecting a growth of about 1.2%[177]. Cash Flow - The company reported a net cash flow from operating activities of CNY -1,112,229,046.68, compared to CNY -1,446,509,447.20 in the previous year[24]. - The net cash flow from financing activities was CNY 2,153,417,741.75, a 34.46% increase from CNY 1,601,482,333.89 last year[54]. - Cash and cash equivalents at the end of the period amounted to CNY 2,341,796,550.78, representing 9.55% of total assets, up 42% from CNY 1,649,166,799.39 last year[59]. - The company received a total of ¥40,285,034,427.17 in cash inflows from operating activities in the first half of 2021, compared to ¥23,898,302,375.36 in the same period of 2020, indicating an increase of approximately 68.4%[197]. Operational Developments - The increase in operating revenue was primarily due to the expansion of business scale and rising commodity prices compared to the previous year[24]. - The logistics industry in China is experiencing steady recovery, with total social logistics amounting to CNY 150.9 trillion in the first half of 2021, representing a year-on-year growth of 15.7%[32]. - The company is positioned to leverage its logistics parks with rail and water facilities, enhancing its competitive advantage in the smart logistics and multimodal transport sectors[32]. - The company has established long-term partnerships with major futures exchanges, with delivery warehouse capacities for various commodities, including 330,000 tons for hot-rolled coils and 390,600 tons for copper as of June 2021[34]. - The company is actively involved in the digital transformation of the logistics industry, utilizing technologies such as big data and artificial intelligence to optimize resource allocation and improve operational efficiency[32]. Research and Development - The company holds 8 effective invention patents, 84 utility model patents, and 26 software copyrights, showcasing its strong R&D capabilities[44]. - Research and development expenses surged by 393.37% to ¥12,993,282.46, driven by increased investment in the intelligent transportation platform[58]. Environmental and Social Responsibility - The company has established a comprehensive risk inspection and rectification plan focusing on energy conservation and environmental protection, emphasizing the importance of accurate data reporting and monitoring[95]. - The company is committed to green warehouse construction, optimizing logistics processes to reduce transportation distances and energy consumption[95]. - The company has established a leadership group to oversee targeted poverty alleviation efforts, ensuring effective implementation of rural revitalization strategies[98]. Legal and Compliance - The company has committed to a dividend policy ensuring at least 10% of distributable profits are paid in cash annually post-restructuring[102]. - The company has ensured compliance with legal and regulatory requirements in its operations and shareholder rights[102]. - The company has no significant litigation or arbitration matters pending during the reporting period[109].

I. [Important Notice](index=3&type=section&id=I.%20Important%20Notice) [1.1 Statement on Report Authenticity](index=3&type=section&id=1.1%20Statement%20on%20Report%20Authenticity) The company's board of directors, supervisory board, and senior management ensure the truthfulness, accuracy, and completeness of this quarterly report, confirming all directors attended the review; the financial statements are unaudited - The company's management guarantees the truthfulness, accuracy, and completeness of the quarterly report, free from false records, misleading statements, or major omissions, and assumes legal responsibility[8](index=8&type=chunk) - This company's Q1 2021 report is unaudited[11](index=11&type=chunk) II. [Company Overview](index=3&type=section&id=II.%20Company%20Overview) [2.1 Key Financial Data](index=3&type=section&id=2.1%20Key%20Financial%20Data) In Q1 2021, the company achieved significant growth in both operating revenue and net profit, primarily due to expanded operations and improved quality post-pandemic, with revenue up 78.03% and net profit attributable to shareholders up 40.78% 2021 Q1 Key Financial Data | Indicator | Current Period | Prior Year Period | Year-on-Year Change (%) | | :--- | :--- | :--- | :--- | | Operating Revenue (CNY) | 13,175,934,276.45 | 7,400,974,550.26 | 78.03 | | Net Profit Attributable to Shareholders (CNY) | 51,808,875.80 | 36,800,870.79 | 40.78 | | Net Profit Attributable to Shareholders (Excluding Non-recurring Items) (CNY) | 48,164,335.80 | 32,836,382.70 | 46.68 | | Net Cash Flow from Operating Activities (CNY) | -1,530,668,372.10 | -1,330,026,022.68 | Not Applicable | | Basic Earnings Per Share (CNY/share) | 0.0239 | 0.0170 | 40.59 | | Weighted Average Return on Net Assets (%) | 0.4409 | 0.3284 | Increased by 0.11 percentage points | - Operating revenue increased by **78.03%** year-on-year, primarily due to the expansion of business operations after overcoming the impact of the pandemic[14](index=14&type=chunk) - Net profit attributable to shareholders and non-recurring net profit attributable to shareholders increased significantly, mainly due to controlled pandemic, expanded operations, improved operational quality, and increased operating profit[14](index=14&type=chunk) - Total non-recurring gains and losses for the period amounted to **CNY 3.64 million**, primarily from government subsidies and fair value change gains and losses[15](index=15&type=chunk) [2.2 Shareholder Information at Period-End](index=4&type=section&id=2.2%20Shareholder%20Information%20at%20Period-End) As of the end of the reporting period, the company had 52,334 shareholders, with China National Materials Storage and Transportation Group Co., Ltd. (45.74%) and CLH 12 (HK) Limited (15.45%) as the top two, indicating a relatively concentrated equity structure - As of the end of the reporting period, the company had **52,334** shareholders[15](index=15&type=chunk) Top Two Shareholders' Holdings | Shareholder Name | Number of Shares Held | Shareholding Percentage (%) | | :--- | :--- | :--- | | China National Materials Storage and Transportation Group Co., Ltd. | 1,006,185,716 | 45.74 | | CLH 12（HK）Limited | 339,972,649 | 15.45 | III. [Significant Matters](index=5&type=section&id=III.%20Significant%20Matters) [3.1 Analysis of Significant Changes in Financial Statement Items and Indicators](index=5&type=section&id=3.1%20Analysis%20of%20Significant%20Changes%20in%20Financial%20Statements) During the reporting period, several financial indicators significantly changed due to business expansion, with substantial increases in prepayments and inventories on the asset side, and corresponding growth in short-term borrowings and contract liabilities on the liability side, all reflecting supply chain business expansion; operating cash outflow increased mainly due to higher procurement expenditures Balance Sheet Key Item Changes and Reasons | Item | Change (%) | Reason for Change | | :--- | :--- | :--- | | Prepayments | 63.54 | Expansion of supply chain business and increased procurement | | Inventories | 119.85 | Expansion of supply chain business and increased procurement | | Short-term Borrowings | 130.76 | Increased financing from financial institutions | | Contract Liabilities | 66.99 | Expansion of business operations | | Employee Remuneration Payable | -60.72 | Payment of performance bonuses accrued last year | Income Statement and Cash Flow Statement Key Item Changes and Reasons | Item | Change (%) | Reason for Change | | :--- | :--- | :--- | | Operating Revenue | 78.03 | Expansion of business operations after overcoming pandemic impact | | Operating Cost | 77.85 | Expansion of business operations after overcoming pandemic impact | | Selling Expenses | 38.05 | Expansion of supply chain and China Storage Smart Logistics businesses | | Cash Received from Sales of Goods and Services | 62.07 | Expansion of business operations after overcoming pandemic impact | | Cash Paid for Goods and Services | 56.21 | Expansion of business operations after overcoming pandemic impact | | Cash Received from Borrowings | -47.83 | Increased temporary funding needs due to pandemic in prior year | [3.2 Progress of Significant Matters](index=7&type=section&id=3.2%20Progress%20of%20Significant%20Matters) During the reporting period, the company advanced its restricted stock incentive plan, with the revised draft approved by the board, supervisory board, and general meeting of shareholders, and also disclosed the progress of litigation cases - The company's restricted stock incentive plan (revised draft) has been approved by the company's first extraordinary general meeting of shareholders in 2021[25](index=25&type=chunk) - The progress of the company's litigation cases has been disclosed in the "China Storage Co., Ltd. 2020 Annual Report"[25](index=25&type=chunk) IV. [Appendix](index=8&type=section&id=IV.%20Appendix) [4.1 Financial Statements](index=8&type=section&id=4.1%20Financial%20Statements) The appendix includes the company's consolidated and parent company balance sheets, income statements, and cash flow statements for Q1 2021, providing detailed support for the report's financial data [Consolidated Balance Sheet](index=8&type=section&id=Consolidated%20Balance%20Sheet) As of March 31, 2021, the company's total assets were CNY 23.55 billion, up 11.39% from year-end; total liabilities were CNY 11.31 billion, up 26.26%; and equity attributable to parent company owners was CNY 11.78 billion, up 0.43% Consolidated Balance Sheet Key Items (As of 2021-03-31) | Indicator | Period-End Balance (billion CNY) | Previous Year-End Balance (billion CNY) | Change (%) | | :--- | :--- | :--- | :--- | | Total Assets | 23.55 | 21.14 | 11.39 | | Total Liabilities | 11.31 | 8.96 | 26.26 | | Equity Attributable to Parent Company Owners | 11.78 | 11.73 | 0.43 | [Parent Company Balance Sheet](index=10&type=section&id=Parent%20Company%20Balance%20Sheet) As of March 31, 2021, the parent company's total assets were CNY 19.59 billion, up 10.76% from year-end; total liabilities were CNY 8.52 billion, up 28.32% Parent Company Balance Sheet Key Items (As of 2021-03-31) | Indicator | Period-End Balance (billion CNY) | Previous Year-End Balance (billion CNY) | Change (%) | | :--- | :--- | :--- | :--- | | Total Assets | 19.59 | 17.69 | 10.76 | | Total Liabilities | 8.52 | 6.64 | 28.32 | | Total Owners' Equity | 11.08 | 11.05 | 0.22 | [Consolidated Income Statement](index=13&type=section&id=Consolidated%20Income%20Statement) In Q1 2021, the company achieved total operating revenue of CNY 13.18 billion, up 78.0% year-on-year, and net profit attributable to parent company shareholders of CNY 51.81 million, up 40.78% year-on-year Consolidated Income Statement Key Items (Q1 2021) | Indicator | Current Period Amount (million CNY) | Previous Period Amount (million CNY) | Year-on-Year Growth (%) | | :--- | :--- | :--- | :--- | | Total Operating Revenue | 13,177.92 | 7,403.02 | 78.0 | | Operating Profit | 75.31 | 14.74 | 410.8 | | Net Profit Attributable to Parent Company Shareholders | 51.81 | 36.80 | 40.78 | [Parent Company Income Statement](index=15&type=section&id=Parent%20Company%20Income%20Statement) In Q1 2021, the parent company achieved operating revenue of CNY 2.20 billion, up 96.35% year-on-year, and net profit of CNY 23.74 million, down 50.58% year-on-year Parent Company Income Statement Key Items (Q1 2021) | Indicator | Current Period Amount (million CNY) | Previous Period Amount (million CNY) | Year-on-Year Change (%) | | :--- | :--- | :--- | :--- | | Operating Revenue | 2,196.33 | 1,118.55 | 96.35 | | Net Profit | 23.74 | 48.04 | -50.58 | [Consolidated Cash Flow Statement](index=16&type=section&id=Consolidated%20Cash%20Flow%20Statement) In Q1 2021, the company's net cash flow from operating activities was -CNY 1.53 billion, with the net outflow expanding year-on-year mainly due to increased procurement expenditures from business expansion; net cash inflow from financing activities was CNY 1.43 billion, primarily from new borrowings Consolidated Cash Flow Statement Key Items (Q1 2021) | Indicator | Current Period Amount (billion CNY) | Previous Period Amount (billion CNY) | | :--- | :--- | :--- | | Net Cash Flow from Operating Activities | -1.53 | -1.33 | | Net Cash Flow from Investing Activities | -0.18 | -0.23 | | Net Cash Flow from Financing Activities | 1.43 | 2.64 | | Net Increase in Cash and Cash Equivalents | -0.28 | 1.08 | [Parent Company Cash Flow Statement](index=18&type=section&id=Parent%20Company%20Cash%20Flow%20Statement) In Q1 2021, the parent company's net cash flow from operating activities was -CNY 1.67 billion, with the net outflow expanding year-on-year; net cash inflow from financing activities was CNY 1.49 billion Parent Company Cash Flow Statement Key Items (Q1 2021) | Indicator | Current Period Amount (billion CNY) | Previous Period Amount (billion CNY) | | :--- | :--- | :--- | | Net Cash Flow from Operating Activities | -1.67 | -1.36 | | Net Cash Flow from Investing Activities | -0.05 | -0.10 | | Net Cash Flow from Financing Activities | 1.49 | 2.45 | | Net Increase in Cash and Cash Equivalents | -0.24 | 0.99 | [4.2 Impact of New Lease Standard Adoption](index=19&type=section&id=4.2%20Impact%20of%20New%20Lease%20Standard%20Adoption) The company adopted the new lease standard from January 1, 2021, adjusting its opening financial statements by recognizing right-of-use assets of CNY 138.23 million and lease liabilities of CNY 132.10 million in the consolidated statements, with no impact on opening retained earnings - The company began implementing the new lease standard in 2021 and made corresponding adjustments to its opening financial statements[59](index=59&type=chunk)[67](index=67&type=chunk) Major Impact of New Lease Standard on Consolidated Opening Balances | Adjustment Item | Adjusted Amount (CNY) | | :--- | :--- | | Right-of-Use Assets | +138,230,878.17 | | Lease Liabilities | +132,099,429.21 | | Prepayments | -6,131,448.96 | - This accounting standard change adopted a simplified approach, measuring lease liabilities at the present value of remaining lease payments and adjusting right-of-use assets accordingly, without affecting opening retained earnings[67](index=67&type=chunk)[73](index=73&type=chunk)

Financial Performance - The company's operating revenue for 2020 was approximately ¥48.82 billion, representing a 20.96% increase compared to ¥40.36 billion in 2019[24]. - The net profit attributable to shareholders for 2020 was approximately ¥566.82 million, a significant increase of 102.75% from ¥279.56 million in 2019[24]. - The net profit attributable to shareholders after deducting non-recurring gains and losses was approximately ¥64.42 million, up 111.03% from ¥30.53 million in 2019[24]. - The net cash flow from operating activities for 2020 was approximately ¥1.17 billion, reflecting a 17.68% increase from ¥991.54 million in 2019[24]. - As of the end of 2020, the net assets attributable to shareholders were approximately ¥11.73 billion, a 4.75% increase from ¥11.19 billion at the end of 2019[24]. - The total assets at the end of 2020 were approximately ¥21.14 billion, showing a 3.90% increase from ¥20.35 billion at the end of 2019[24]. - The basic earnings per share for 2020 was 0.1283 yuan, reflecting a year-on-year increase of 103.59%[27]. - The weighted average return on equity increased by 2.43 percentage points to 2.52% in 2020[27]. - In Q4 2020, the company reported a net profit attributable to shareholders of 295.26 million yuan, with total operating income of 15.56 billion yuan[30]. - The company reported a net cash flow from operating activities of 1.41 billion yuan for the entire year, indicating a recovery in operational efficiency[30]. Dividend Distribution - The company plans to distribute a cash dividend of ¥0.79 per 10 shares (including tax) based on the number of shares entitled to distribution on the record date[6]. - For the year 2020, the company proposed a cash dividend of ¥171,436,286.98, which is 30.25% of the net profit attributable to shareholders of ¥566,822,110.26[140]. - The cash dividend per 10 shares for 2020 was set at ¥0.79 (including tax)[140]. - The company has not proposed any cash profit distribution plan for the reporting period despite having positive distributable profits[145]. - The company’s profit distribution plan strictly follows the company’s articles of association, ensuring clarity and transparency in the decision-making process[144]. Market and Operational Strategy - The company actively expanded its market presence and focused on cost reduction and efficiency improvement amid the pandemic[27]. - The company plans to continue its strategic focus on the logistics and supply chain sectors, leveraging its comprehensive service offerings[40]. - The company has developed a commodity supply chain business focusing on steel and non-ferrous metals, achieving a product line worth over 10 billion RMB in steel and non-ferrous metals[43]. - The logistics and internet integration strategy has resulted in a logistics capacity trading platform covering 450 cities, with a daily transport volume exceeding 782,900 tons and a monthly transaction amount surpassing 2.4 billion RMB[46]. - The company is focusing on market expansion in Jiangsu, Beijing, Tianjin, and Guangdong, driven by growth in smart logistics and supply chain business[81]. Technological Investment and Development - The company has invested in technology-driven logistics solutions, including a digital logistics platform utilizing blockchain technology to enhance supply chain efficiency[46]. - The company is focusing on expanding its information services based on big data to enhance customer satisfaction and operational capabilities[129]. - Investment in technology R&D will increase, particularly in digital logistics and supply chain infrastructure, with a goal to establish a national R&D center in Shanghai[130]. Risk Management and Compliance - The company has detailed risk factors in the report, which investors should review for future planning and strategy[8]. - The company has not reported any non-operating fund occupation by controlling shareholders or related parties[8]. - The company has not violated decision-making procedures for providing guarantees[8]. - The company has made adjustments to its financial statements in accordance with the new revenue standards effective from January 1, 2020, without adjusting comparative period data[154]. - The company has not encountered any significant accounting errors or changes in accounting policies that would affect its financial reporting[155]. Social Responsibility and Community Engagement - The company launched an emergency logistics system, mobilizing over 3,000 drivers and transporting more than 4,000 tons of rescue materials to support Hubei during the pandemic[59]. - The company established a "red life line" logistics service to ensure timely delivery of essential medical supplies and daily necessities during the pandemic[59]. - In 2020, the company planned to invest 400,000 RMB in poverty alleviation, with 200,000 RMB allocated to each of the two villages, for projects including ecological agriculture and herb planting[198]. - Cumulative consumption assistance for poverty alleviation reached 332,600 RMB, including nearly 30,000 RMB for purchasing unsold agricultural products from Hubei Province[198]. Legal and Regulatory Matters - The company has ongoing major litigation cases, including a victory against Zhangjiakou Detaiquan Special Steel Group involving 120.26 million RMB, with full bad debt provision already made[161]. - The company has also won a case against Tangshan Haoning Trading Co., with the amount involved being 82.95 million RMB, and the related profit and loss have been reflected in previous financial reports[161]. - The company is currently executing a judgment against Tianjin Development Zone Qisheng Mineral Import and Export Trade Co., with a court ruling in favor of the company for 13.98 million RMB plus interest[161]. - The company has faced a lawsuit from Xiamen Xiangyu Logistics Group involving 144.73 million RMB, with ongoing execution of approximately 30,000 tons of steel[161].