关于江苏万林现代物流股份有限公司 工作函 专项说明 国府专审字（2025）第 01010002 号 北京国府嘉盈会计师事务所（特殊普通合伙） 二〇二五年四月二十九日 目 录 专项说明 1-13 项 目 起始页码 北京国府嘉盈会计师事务所（特殊普通合伙） 北京市朝阳区霄云里南街 9 号院 5 号楼 华瑞大厦九层 邮编 100016 电话 +86 10 64790905 关于江苏万林现代物流股份有限公司 监管工作函专项说明 上海证券交易所： 由江苏万林现代物流股份有限公司（以下简称万林物流或公司）转来的《关于万林物流业绩 预告相关事项的监管工作函》（上证公函【2025】0138 号）（以下简称"工作函"） 奉悉。我们已 对工作函中需要我们说明的财务事项进行了审慎核查，由于公司 2024 年度财务报表审计工作正 在进行中，最终核查意见以年度审计报告意见为准，现汇报说明如下。 一、关于本年度经营情况。 业绩预告显示，公司预计2024年度实现归母净利润1,100万元至1,600万元，与上年同期相 比将实现扭亏为盈，预计实现扣非归母净利润300万元至450万元。扭亏为盈的原因系2024年度 管理费用、融资费用较去年同比下 ...

Financial Performance - The company's operating revenue for Q1 2025 was ¥62,012,164.74, a decrease of 9.63% compared to ¥68,622,842.35 in the same period last year[4] - Net profit attributable to shareholders decreased by 50.32% to ¥2,103,317.27 from ¥4,233,991.54 year-on-year[4] - Basic and diluted earnings per share fell by 47.76% to ¥0.0035 from ¥0.0067 in the same period last year[4] - The company experienced a 50.58% decline in net profit, primarily due to a decrease in business volume[6] - The company reported a significant portion of shares held by major shareholders are pledged or frozen, indicating potential liquidity concerns[10] - Net profit for Q1 2025 was ¥2,101,036.62, a decline of 50.6% from ¥4,251,726.77 in Q1 2024[20] Cash Flow - The net cash flow from operating activities was negative at -¥2,647,523.60, a decline of 120.54% compared to ¥12,888,978.32 in the previous year[4] - Operating cash flow for Q1 2025 was negative at -¥2,647,523.60, compared to positive cash flow of ¥12,888,978.32 in Q1 2024[23] - The company’s total cash inflow from operating activities was ¥125,451,859.78 in Q1 2025, down from ¥147,348,040.50 in Q1 2024[23] - Cash inflow from financing activities totaled 18,174,333.36, while cash outflow was 19,009,159.17, resulting in a net cash flow of -834,825.81[24] - The company experienced a net decrease in cash and cash equivalents of -1,908,011.31 during the reporting period[24] Assets and Liabilities - Total assets at the end of the reporting period were ¥1,370,150,850.21, a decrease of 1.13% from ¥1,385,849,727.98 at the end of the previous year[5] - Total liabilities decreased to ¥352,294,506.27 in 2025 from ¥370,098,412.91 in 2024, reflecting a reduction of 4.8%[16] - Total assets decreased from ¥1,385,849,727.98 to ¥1,370,150,850.21, a reduction of approximately 1.14%[15] - Short-term borrowings decreased from ¥40,142,900.51 to ¥30,919,634.38, a decline of about 23.0%[15] - Accounts payable increased from ¥29,433,750.89 to ¥34,696,203.33, an increase of approximately 17.5%[15] Shareholder Information - Total number of common shareholders at the end of the reporting period is 31,843[10] - The largest shareholder, Qiongqing City Surui Investment Co., Ltd., holds 93,306,657 shares, accounting for 15.57% of total shares[10] Other Financial Metrics - The weighted average return on equity decreased by 0.16 percentage points to 0.21%[4] - Non-recurring gains and losses totaled ¥1,523,778.97, with significant contributions from asset disposal gains and government subsidies[7] - Other comprehensive income after tax for Q1 2025 was ¥3,992.25, compared to a loss of -¥86,954.84 in Q1 2024[20] - The company’s investment income for Q1 2025 was ¥1,410,337.03, a decrease from ¥3,706,493.47 in Q1 2024[23] Strategic Actions - The company has signed a "Consistent Action Agreement" with its major shareholders, indicating a unified strategy moving forward[11] - The total cash outflow from financing activities was significantly higher than the inflow, indicating a potential need for strategic financial management[24]

Financial Performance - The company expects a net profit attributable to shareholders of 11 million to 16 million yuan for the year 2024, indicating a turnaround from a loss in the previous year[2]. - The corrected net profit attributable to shareholders for 2024 is reported at 13.65 million yuan, with a net profit of 2.29 million yuan after deducting non-recurring gains and losses[3]. - The previous year's net profit attributable to shareholders was a loss of 227.74 million yuan, with an operating revenue of 388.29 million yuan[4]. Revenue Projections - The company's operating revenue for 2024 is projected to be between 250 million and 300 million yuan, with the actual reported revenue at 294.53 million yuan[3]. Accounting Adjustments - The company adjusted its receivables and recognized a loss provision of 8.27 million yuan due to changes in the assessment of receivables[5]. - The company has communicated with its accounting firm regarding the performance forecast correction, with no significant discrepancies reported[6]. Corporate Governance - The board of directors has apologized for the impact of the performance forecast correction on investors and emphasized the need for improved financial oversight[8].

Financial Performance and Projections - The company expects a net profit attributable to shareholders of between 11 million and 16 million yuan for 2024, with a non-recurring net profit of 3 million to 4.5 million yuan, indicating a turnaround from losses in the previous year[2] - The company’s operating income for 2024 is projected at 294.53 million RMB, a decrease of 24.15% compared to the previous year[23] - The company plans to generate rental income of 31.06 million RMB annually from leasing over 1,100 acres of yard and related equipment to Yingli Port Co., with a revised rental fee of 50,000 RMB per acre per year starting in 2025[21] - The company expects to achieve a taxable income of approximately 37.12 million RMB in 2025, considering the impact of rental price adjustments[21] - The company plans to gradually resume traditional timber trading operations after normalizing bank credit, aiming for an annual profit increase of 1.5 million RMB over the next three years[21] Receivables and Bad Debt Management - As of the end of 2024, the company's accounts receivable balance is 976.97 million yuan, a decrease of 18.79 million yuan or 16.06% compared to the beginning of the year[5] - Accounts receivable from China State Construction Engineering Corporation amounted to 38.95% of the total receivables, with 58.59% of these being overdue for more than three years[11] - The company has adjusted its bad debt provision by 8.26 million yuan due to a reassessment of receivables related to Zhuozhou Changlong Real Estate Development Co., Ltd[8] - The company has committed to a thorough analysis of its receivables and has implemented a risk assessment strategy to ensure adequate bad debt provisions are maintained[10] - The company has recognized a 50% and 80% impairment provision for overdue receivables from two subsidiaries of China Forestry Group, totaling 25.13 million yuan in impairment provisions[15] - The company has an outstanding balance of 32.39 million yuan in receivables from China Forestry Group subsidiaries, with a total impairment provision of 25.13 million yuan[15] - The company has an outstanding receivable of 33.06 million yuan from Shanghai Youda Wood Industry, with a repayment plan in place until the end of 2024[17] - Shanghai Youda has repaid 2.01 million yuan of the outstanding amount, with a remaining balance of 58.47 million yuan after accounting for impairment provisions[17] - The company recognized a credit impairment loss of 6 million RMB due to the reduced recoverability of receivables related to a lawsuit involving Shanghai Fanchang and Shanghai Mailin, with a total claim amount of 32,027,736.91 RMB[18] - The company has fully recognized impairment provisions for significant receivables, aligning with actual operating conditions and accounting standards[18] Regulatory Compliance and Auditing - The company has received regulatory inquiries regarding its earnings forecast and has actively engaged in addressing these concerns[2] - The company confirmed compliance with the regulations regarding non-recurring gains and losses, ensuring no evasion of delisting risk warnings[27] - The company has engaged Beijing Guofu Jiaying Accounting Firm to conduct a thorough audit, adhering to auditing standards and maintaining quality control[28] - The company is focused on maintaining effective audit risk control and has documented all relevant matters during the audit process[28] Non-Recurring Items and Financial Challenges - Non-recurring gains and losses for the current period amounted to -0.0724 million RMB, a significant decrease from 48.27 million RMB in the previous year[25] - The company reported a non-recurring loss of 1,136.59 million due to various factors, including asset impairment and other non-operating expenses[26] - The impact of income tax on the non-recurring loss was 72.36 million, indicating a significant tax effect on the overall financial results[26] - The total non-recurring income and expenses amounted to a net loss of 161.54 million, reflecting the company's financial challenges during the reporting period[26] - The financial results indicate a significant decrease in non-recurring income compared to the previous period, with a drop of 3,312.63 million[26] - The company disclosed that the adjustments in non-recurring items were strictly in line with regulatory requirements, ensuring transparency in financial reporting[27] Legal Matters - The company signed an agreement to use 18 properties as collateral to offset a debt of 27.68 million yuan owed by China State Construction Engineering Corporation[12] - The court ruled against the company regarding the collateral agreement, leading to a reclassification of receivables as other receivables, with an adjustment of 8.27 million yuan for impairment[12] - The company is pursuing a retrial to overturn the previous court decision and has not yet received a ruling on the retrial application[12] - The company has filed a lawsuit against China Forestry Group's subsidiary for 10.25 million yuan in overdue receivables, with the case still pending in court[13][14] Cost Management - The company reported a significant reduction in management and financing costs compared to the previous year, contributing to the expected profitability in 2024[3] - The company’s financial expenses decreased by 59.10% year-on-year, primarily due to reduced interest expenses from non-financial institution borrowings[24] - The company has reported a decrease in deferred tax assets to 48 million yuan as of the end of 2024[3] - The company confirmed deferred tax assets totaling 39.37 million RMB based on future taxable income projections to offset past losses[19] - The company experienced a recovery of receivables amounting to 1,112.53 million, which contributed positively to cash flow[26]

江苏万林现代物流股份有限公司 关于上海证券交易所对公司 2024 年度业绩预告事项 监管工作函的回复公告 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： 江苏万林现代物流股份有限公司（以下简称"公司"或"万林物流"）于 2025 年 1 月 25 日披露了《2024 年年度业绩预盈公告》，预计 2024 年度实现归母 净利润 1,100 万元至 1,600 万元，实现扣非归母净利润 300 万元至 450 万元。经 审计，公司 2024 年度实现归母净利润 1,365.26 万元，扣非归母净利润 228.67 万，因公司对涿州长隆房地产开发有限公司应收款项的减值测试与原有预计存在 差异，经公司审慎确认并及时对财务报表进行调整，导致预计的扣非归母净利润 与实际情况出现一定偏离。由此给投资者造成的不便，公司深表歉意！ 公司于近日收到上海证券交易所上市公司管理二部下发的《关于万林物流业 绩预告相关事项的监管工作函》（上证公函【2025】0138号）（以下简称"《工 作函》"）。公司收到《工作函》后，积极组织相关部门及 ...

证券代码：603117 证券简称：万林物流 公告编号：2025-011 江苏万林现代物流股份有限公司 关于召开2024年年度股东大会的通知 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： 一、 召开会议的基本情况 (一)股东大会类型和届次 2024年年度股东大会 (四)现场会议召开的日期、时间和地点 召开的日期时间：2025 年 5 月 28 日 13 点 30 分 召开地点：上海市长宁区虹桥路 1438 号古北国际财富中心 2 期 31 楼 股东大会召开日期：2025年5月28日 本次股东大会采用的网络投票系统：上海证券交易所股东大会网络投票 系统 (二)股东大会召集人：董事会 (三)投票方式：本次股东大会所采用的表决方式是现场投票和网络投票相结合的 方式 (五)网络投票的系统、起止日期和投票时间。 网络投票系统：上海证券交易所股东大会网络投票系统 网络投票起止时间：自2025 年 5 月 28 日 至2025 年 5 月 28 日 采用上海证券交易所网络投票系统，通过交易系统投票平台的投票时间为股 东大会召 ...

一、监事会会议召开情况 江苏万林现代物流股份有限公司（以下简称"公司"）第五届监事会第十五 次会议通知于 2025 年 4 月 15 日以电话方式送达，并于 2025 年 4 月 25 日在公司 会议室召开。会议应到监事 3 人，实际参加会议监事 3 人。本次会议的召集和召 开程序符合《中华人民共和国公司法》和《江苏万林现代物流股份有限公司章程》 的规定，会议决议合法、有效。 二、监事会会议审议情况 与会监事审议并一致通过了如下议案： (一) 《公司 2024 年度监事会工作报告》 表决结果：3 票同意、0 票反对、0 票弃权。表决结果为通过。 本议案尚需提交股东大会审议。 (二) 《<公司 2024 年年度报告>及其摘要》 经审核，监事会认为公司 2024 年年度报告的编制和审议程序符合法律、法 规、《公司章程》及公司内部管理制度的各项规定；公司 2024 年年度报告的内 容和格式符合中国证券监督管理委员会和上海证券交易所的相关规定，报告内容 真实、准确、完整地反映了公司 2024 年度的财务状况和经营成果，不存在任何 虚假记载、误导性陈述或者重大遗漏；在提出本意见前，监事会未发现参与 2024 年年度报告 ...

证券代码：603117 证券简称：万林物流 公告编号：2025-005 江苏万林现代物流股份有限公司 第五届董事会第二十三次会议决议公告 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。 一、董事会会议召开情况 江苏万林现代物流股份有限公司（以下简称"公司"）第五届董事会第二十 三次会议通知于 2025 年 4 月 15 日以电话方式送达，并于 2025 年 4 月 25 日以现 场结合通讯表决方式召开。会议应到董事 8 人，实际参加会议董事 8 人。本次会 议的召集和召开程序符合《中华人民共和国公司法》和《江苏万林现代物流股份 有限公司章程》的规定，会议决议合法、有效。 二、董事会会议审议情况 与会董事审议并一致通过了如下议案： (一) 《公司 2024 年度董事会工作报告》 表决结果：8 票同意、0 票反对、0 票弃权。表决结果为通过。 本议案尚需提交股东大会审议。 (二) 《公司 2024 年度总经理工作报告》 表决结果：8 票同意、0 票反对、0 票弃权。表决结果为通过。 (三) 《公司第五届董事会审计委员会 2024 ...

证券代码：603117 证券简称：万林物流 公告编号：2025-007 江苏万林现代物流股份有限公司 2024 年度利润分配方案公告 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： 江苏万林现代物流股份有限公司（以下简称"公司"）综合考虑公司目 前经营状况及未来发展需要，2024 年度公司拟不进行现金分红，亦不进行包括 资本公积转增股本在内的其他形式的分配。 一、 利润分配方案内容 （一）利润分配方案的具体内容 经北京国府嘉盈会计师事务所（特殊普通合伙）审计，公司 2024 年度实现 归属于上市公司股东净利润为 13,652,566.64 元，截至 2024 年 12 月 31 日，公 司母公司报表中期末未分配利润为人民币 161,787,740.73 元。 经公司第五届董事会第二十三次会议审议通过，鉴于公司 2024 年度实施了 股份回购注销，且公司 2024 年度合并报表中期末未分配利润为负，综合考虑公 司目前所处行业现状、经营情况、未来资金需要等因素，为保障公司持续稳定经 营及健康发展，增强抵御风险的能力 ...

关于江苏万林现代物流股份有限公司 非经常性损益 | 项 | 目 | 起始页码 | | --- | --- | --- | | 专项核查报告 | | 1-2 | | 非经常性损益明细表 | | 3 | 北京国府嘉盈会计师事务所（特殊普通合伙） 北京市朝阳区霄云里南街 9 号院 5 号楼 华瑞大厦九层 邮编 100016 电话 +86 10 64790905 关于江苏万林现代物流股份有限公司 非经常性损益专项核查报告 国府核字（2025）第 01010008 号 专项核查报告 国府核字（2025）第 01010008 号 北京国府嘉盈会计师事务所（特殊普通合伙） 二〇二五年四月二十五日 目 录 江苏万林现代物流股份有限公司全体股东： 我们接受委托，在审计了江苏万林现代物流股份有限公司（以下简称"万林物流 公司"）2024 年 12 月 31 日的合并及公司的资产负债表，2024 年度合并及公司的利润 表、合并及公司的现金流量表和合并及公司的股东权益变动表以及财务报表附注的 基础上，对后附的万林物流公司 2024 年度非经常性损益明细表进行了专项核查。 按照中国证券监督管理委员会印发的《公开发行证券的公司信息披露解 ...