Financial Performance - The company's operating revenue for 2021 was CNY 1,269,049,480.08, representing a year-on-year increase of 10.22% compared to CNY 1,151,376,646.21 in 2020[22]. - The net profit attributable to shareholders for 2021 was CNY 182,402,171.44, which is a 12.86% increase from CNY 161,618,454.65 in 2020[22]. - The basic earnings per share for 2021 was CNY 1.19, up 11.21% from CNY 1.07 in 2020[24]. - The weighted average return on equity for 2021 was 9.75%, slightly increasing from 9.68% in 2020[24]. - The total assets at the end of 2021 were CNY 2,837,155,517.28, reflecting a 19.50% increase from CNY 2,374,104,232.16 at the end of 2020[23]. - The net cash flow from operating activities decreased by 25.45% to CNY 77,710,088.72 in 2021 from CNY 104,232,318.55 in 2020[23]. - The company reported a total non-operating income of RMB 19,449,064.20, with a significant increase compared to the previous period's loss of RMB -18,460,320.51[28]. - The company reported a total of CNY 3,064,142.53 in gains from fair value changes of financial assets in 2021, compared to a loss of CNY 38,239,040.33 in 2020[27]. Dividend and Capital Structure - The company plans to distribute a cash dividend of 1.15 RMB per 10 shares, totaling 18,498,966.24 RMB for the year 2021[5]. - The company will increase its capital reserve by issuing 4.5 additional shares for every 10 shares held by shareholders[5]. - The company has successfully raised RMB 130,061,360.20 through a private placement, increasing total shares from 150,400,000 to 160,860,576, enhancing its capital structure[36]. Audit and Compliance - The company has received a standard unqualified audit report from Guangdong Sinong Accounting Firm[4]. - The board of directors and senior management have confirmed the accuracy and completeness of the annual report, with no false records or major omissions[7]. - The company has engaged Guangdong Sinong Accounting Firm for auditing services, ensuring compliance and accuracy in financial reporting[20]. Operational Developments - The company operates several wholly-owned subsidiaries, including Jiacheng Global and Tianyun Technology[11]. - The company is involved in various logistics and supply chain management activities, enhancing operational efficiency through technologies like RFID and VMI[12]. - The company is focused on expanding its logistics capabilities and enhancing service offerings in the supply chain sector[12]. - The company has completed the construction of the main structure of the second phase of the Jiacheng International Port, which is now in trial operation, supporting logistics for major e-commerce platforms like Lazada[35]. - The company has established a strategic partnership with major e-commerce platforms, including Douyin and Shein, to enhance its cross-border e-commerce logistics capabilities[33]. Market Expansion and Strategy - The company plans to continue expanding its market presence and investing in new product development to drive future growth[22]. - The company plans to leverage its logistics capabilities to support the growing demand for duty-free goods in Hainan, enhancing its market position[37]. - The company plans to establish modern international logistics hubs in cities like Ningbo, Hangzhou, and Zhengzhou, aiming to replicate its integrated logistics model from Guangdong Nansha Free Trade Zone[40]. - The company is actively pursuing new product development and technological advancements to stay competitive in the market[132]. - The company aims to enhance its cross-border e-commerce logistics services through the establishment of overseas warehouses, improving delivery times and reducing costs[39]. Technology and Innovation - The company is focusing on technology-driven logistics solutions, integrating IoT, AI, big data, and cloud computing to enhance its operational capabilities and digital transformation[40]. - The application of RFID and IoT technologies significantly enhances sorting efficiency and accuracy in logistics management[52]. - The company is transitioning from traditional logistics to innovative technology logistics, focusing on digital construction and establishing a big data center to enhance operational efficiency and service quality[109]. - The company plans to implement autonomous driving technology in logistics operations, which is expected to significantly reduce logistics costs and improve efficiency, with pilot projects in key logistics areas[111]. Governance and Shareholder Relations - The company held 4 shareholder meetings during the reporting period, ensuring equal treatment of all shareholders through a combination of on-site and online voting[120]. - The board of directors consists of 9 members, including 3 independent directors, and held 14 meetings to review 64 proposals, adhering to legal and procedural requirements[122]. - The company has established a governance structure that ensures clear responsibilities and effective checks and balances among its various bodies[120]. - The company has committed to measures to mitigate the dilution of immediate returns from the issuance of convertible bonds[127]. - The company plans to implement a shareholder return plan for the next three years (2021-2023)[141]. Employee and Training Initiatives - The company has a total of 1,165 employees, with 902 in the parent company and 263 in major subsidiaries[151]. - The company has established a comprehensive training system for employees, focusing on enhancing overall quality and competitiveness[153]. - The company has emphasized the importance of employee training and development to meet sustainable operational needs[153]. Risks and Legal Matters - There are no significant risks or non-operational fund occupation by controlling shareholders[8]. - The company faces risks related to international political relations and trade policies, which could adversely affect its cross-border logistics services[116]. - The company is currently involved in a lawsuit with a claim amounting to RMB 966,912.91, which is still under court review[179]. - There are no major related party transactions or changes in related transactions reported during the period[181]. Industry Trends and Economic Outlook - In 2021, China's total import and export volume reached RMB 39.1 trillion, reflecting a year-on-year growth of 21.4%, indicating a robust logistics demand driven by strong industrial production[45]. - The logistics industry in China is projected to see fixed asset investments exceeding RMB 3.5 trillion in 2021, with the establishment of 70 national logistics hubs to enhance the logistics network[46]. - The logistics industry in China is projected to maintain a growth rate of around 6% for the year, despite challenges from the pandemic and supply chain issues[88].

Financial Performance - The company's operating revenue for Q3 2021 was CNY 329,937,993.97, representing a year-over-year increase of 1.87%[5] - The net profit attributable to shareholders for the same period was CNY 59,404,900.41, reflecting a growth of 16.64% compared to the previous year[5] - The net profit after deducting non-recurring gains and losses was CNY 57,424,526.45, which is an increase of 26.28% year-over-year[6] - Total operating revenue for the first three quarters of 2021 reached CNY 926,314,692.74, an increase of 12.7% compared to CNY 822,017,138.63 in the same period of 2020[24] - The company's operating profit for Q3 2021 was approximately ¥186.58 million, an increase from ¥160.66 million in Q3 2020, representing a growth of about 16.14%[25] - The net profit attributable to shareholders for Q3 2021 was approximately ¥160.03 million, compared to ¥132.15 million in Q3 2020, reflecting an increase of approximately 20.99%[26] - The total comprehensive income for Q3 2021 was approximately ¥160.61 million, compared to ¥131.93 million in Q3 2020, representing an increase of about 21.73%[26] Cash Flow and Liquidity - The cash flow from operating activities showed a net decrease of 32.87%, totaling CNY 88,443,778.73 year-to-date[6] - The company's cash and cash equivalents decreased to CNY 353,633,521.68 as of September 30, 2021, down 31.2% from CNY 514,530,527.32 at the end of 2020[20] - The total cash inflow from operating activities for the first nine months of 2021 was approximately ¥1.06 billion, compared to ¥881.01 million in the same period of 2020, marking an increase of about 20.5%[29] - The net cash flow from operating activities for the first nine months of 2021 was approximately ¥88.44 million, down from ¥131.76 million in the same period of 2020, a decrease of about 32.7%[29] - The company's cash and cash equivalents at the end of Q3 2021 were approximately ¥287.32 million, down from ¥406.66 million at the end of Q3 2020, a decrease of about 29.3%[30] Assets and Liabilities - Total assets at the end of the reporting period reached CNY 2,752,065,602.86, up 15.92% from the end of the previous year[6] - The total liabilities increased to CNY 729,766,071.52, up from CNY 625,737,187.64 at the end of 2020, marking a rise of 16.6%[21] - The equity attributable to shareholders increased to CNY 2,015,022,540.38, up from CNY 1,741,763,874.57 at the end of 2020, reflecting a growth of 15.7%[21] - Total current assets amounted to ¥1,229,663,149.33 as of December 31, 2020[33] - Total non-current assets reached ¥1,144,441,082.83, contributing to total assets of ¥2,374,104,232.16[34] - Total current liabilities were ¥602,423,626.42, while total liabilities stood at ¥625,737,187.64[35] Business Expansion and Initiatives - The company reported a significant increase in net profit attributable to shareholders due to growth in existing business and new cross-border e-commerce initiatives[9] - The company is focusing on expanding its logistics business, particularly in cross-border e-commerce logistics, which has contributed to the revenue growth[9] - The net profit after deducting non-recurring gains and losses for the first three quarters increased by nearly 45% year-on-year, with new logistics supply chain business, especially cross-border e-commerce export logistics, contributing over RMB 60 million in revenue[14] - The company has expanded its core business and improved profitability, with significant growth in cross-border e-commerce import and export business, including the addition of Tmall International bulk trade business[14] - The company has signed an investment agreement for the Tianyun International (Hainan) Smart Processing and Distribution Center project, which is expected to generate approximately RMB 1.2 billion in annual revenue and contribute about RMB 240 million in profit[17] - The company is focusing on expanding its logistics business in the automotive sector, having secured logistics contracts with BAIC Group and GAC Group suppliers[15] - The company is investing in smart logistics technology, including IoT, AI, big data, cloud computing, and blockchain, to drive digital transformation[15] - The second phase of the Jiacheng International Port is nearing completion and is expected to begin large-scale operations within the year[17] - The company aims to enhance its core competitiveness through mergers and acquisitions with companies that have technological innovation capabilities and quality customer resources[15] Costs and Expenses - Total operating costs for the first three quarters of 2021 were CNY 746,140,654.56, up from CNY 691,378,051.94 in 2020, reflecting an increase of 7.9%[24] - The company anticipates that the increase in raw material prices may impact overall construction costs[17] - Research and development expenses for the first three quarters of 2021 were CNY 13,453,125.66, slightly up from CNY 12,806,932.59 in the same period of 2020[24] - The company reported an investment income of CNY 3,567,199.35 for the first three quarters of 2021, a decrease from CNY 28,688,952.93 in the same period of 2020[24] Shareholder Information - The basic earnings per share for the quarter was CNY 0.36, with a year-to-date figure of CNY 1.06, marking a 20.45% increase[6] - The basic and diluted earnings per share for Q3 2021 were both ¥1.06, up from ¥0.88 in Q3 2020, indicating a growth of approximately 20.45%[26] - The company completed a private placement of shares, raising a net amount of RMB 130,061,360.20, increasing total share capital from 150,400,000 shares to 160,860,576 shares[16] - Shareholders' equity totaled ¥1,748,367,044.52, with total equity attributable to the parent company at ¥1,741,763,874.57[35] - The company maintains a strong equity position with retained earnings of ¥864,689,529.93, providing a buffer for future investments[35]

Financial Performance - The company reported a total revenue of 1.2 billion RMB for the first half of 2021, representing a year-on-year increase of 15%[10]. - The net profit attributable to shareholders was 150 million RMB, up 20% compared to the same period last year[10]. - The company's operating revenue for the first half of 2021 was CNY 596,376,698.77, representing a 19.72% increase compared to CNY 498,150,793.72 in the same period last year[18]. - The net profit attributable to shareholders for the first half of 2021 was CNY 100,626,954.67, up 23.89% from CNY 81,221,791.51 year-on-year[18]. - The net profit after deducting non-recurring gains and losses increased by 57.98% to CNY 93,844,655.03 from CNY 59,401,644.77 in the previous year[18]. - The company reported a net profit of 211.93 million RMB for the first half of 2021, representing a significant increase compared to previous periods[54]. - The company reported a net profit of 79,568,280.53, reflecting a strong performance in profitability[123]. - The total comprehensive income for the first half of 2021 was CNY 86,702,014.88, compared to CNY 50,185,614.35 in the same period of 2020[108]. Market Expansion and Strategy - The company plans to expand its market presence in Southeast Asia, targeting a 30% increase in market share by the end of 2022[10]. - Future guidance indicates a projected revenue growth of 10-15% for the second half of 2021[10]. - The logistics sector is expected to grow by 8% in the next year, providing a favorable environment for the company's expansion plans[10]. - The company is actively expanding its logistics service share in the duty-free consumption market in Hainan, leveraging the growing demand for logistics services due to the development of the free trade port[34]. - The company is planning to conduct mergers and acquisitions to enhance its core competitiveness by targeting companies with innovative technologies and quality resources[44]. - The company is exploring potential mergers and acquisitions to strengthen its market position and expand its operational capabilities[124]. Technology and Innovation - New product development includes the launch of a logistics management system, expected to improve operational efficiency by 40%[10]. - The company has invested 200 million RMB in technology upgrades, focusing on RFID and VMI systems to enhance supply chain management[10]. - The company has accumulated rich experience in applying IoT and RFID technology in logistics management, significantly improving sorting efficiency and accuracy[30]. - The company aims to leverage advanced technologies such as IoT, AI, big data, and blockchain to drive digital transformation in logistics[43]. - The company has established long-term partnerships with major manufacturers such as Panasonic, Sumitomo Electric, and Hitachi, enhancing its customer resource advantages in the logistics market[36]. Logistics and Supply Chain - The company provides comprehensive logistics services for cross-border e-commerce, including customs clearance, international shipping, and last-mile delivery, leveraging its advanced logistics management systems[32]. - The company has established a high-standard warehouse infrastructure with a planned capacity of approximately 1.8 million square meters, enhancing operational efficiency and reducing costs[33]. - The high-standard warehouses have a planning volume ratio of 2.5-3, which is about three times more efficient than ordinary warehouses, significantly lowering land costs[33]. - The company has been providing logistics services for Alibaba Group since 2014, expanding its business cooperation and scale in the cross-border e-commerce sector[32]. - The company has developed a comprehensive logistics service model that includes transportation, warehousing, customs clearance, and distribution, positioning itself as a leader in the cross-border e-commerce logistics sector[35]. Financial Position and Assets - The company's total assets at the end of the reporting period were CNY 2,492,416,369.45, a 4.98% increase from CNY 2,374,104,232.16 at the end of the previous year[18]. - The total assets of the company reached 3,382.34 million RMB, with net assets amounting to 2,275.42 million RMB[54]. - The total liabilities rose to RMB 659,583,121.55 from RMB 625,737,187.64, indicating an increase of around 5.4%[97]. - The total equity attributable to shareholders at the end of the period was 1,596,229,197.36, indicating a solid financial position[123]. - The total liabilities at the end of the period were 1,825,623,479.64, which the company aims to manage effectively[123]. Research and Development - Research and development expenses increased by 21.41% to ¥8,347,486.30, reflecting investments in new projects[48]. - The company is collaborating with universities for research and development, enhancing its logistics technology capabilities through partnerships with institutions like South China University of Technology[37]. - Research and development expenditures are classified into research phase and development phase, with research phase costs expensed as incurred[198]. Governance and Compliance - The company has appointed new independent directors, indicating a shift in governance structure[64]. - The company has undergone changes in its board of directors, with new independent directors elected during the 2021 second extraordinary shareholders' meeting[65]. - The company confirms its ability to continue as a going concern for at least 12 months from the reporting date[135]. - The financial statements comply with the enterprise accounting standards, reflecting the company's financial position accurately[137]. Risks and Challenges - The company is facing risks related to the ongoing COVID-19 pandemic, which may impact construction project timelines and costs[56]. - The company’s logistics services are heavily reliant on the manufacturing sector, which poses a risk if manufacturing industry conditions fluctuate[58]. - The company has implemented various information systems to support its diversified business operations, but this also introduces potential information system risks[58].

Financial Performance - Operating revenue increased by 60.12% year-on-year, reaching ¥250,338,513.91[5] - Net profit attributable to shareholders rose by 11.81% to ¥38,852,717.00[5] - Net profit excluding non-recurring gains and losses surged by 111.16% to ¥37,433,357.50[5] - Basic and diluted earnings per share improved by 13.04% to ¥0.26[5] - The company reported a net profit for Q1 2021 of ¥35,687,184.18, compared to ¥18,545,879.45 in Q1 2020, indicating an increase of about 92%[33] - The operating profit for Q1 2021 was ¥41,179,915.42, up from ¥21,580,903.07 in Q1 2020, reflecting a growth of approximately 91%[32] - Total operating revenue for Q1 2021 was CNY 250,338,513.91, an increase of 60.0% compared to CNY 156,344,892.41 in Q1 2020[28] Cash Flow and Liquidity - Cash flow from operating activities showed a significant decline, with a net outflow of ¥45,011,181.51 compared to a positive cash flow of ¥1,414,267.56 in the same period last year[5] - The cash flow from operating activities for Q1 2021 was negative at -¥45,011,181.51, a decline from a positive cash flow of ¥1,414,267.56 in Q1 2020[34] - The total cash outflow for operating activities was ¥124,071,951.75, an increase of 22.4% from ¥101,405,984.55 in Q1 2020[38] - The company reported a net cash outflow from investing activities of -¥190,407,179.28 in Q1 2021, compared to -¥252,861,553.70 in Q1 2020[35] - The net cash flow from investing activities was -¥177,033,950.20, worsening from -¥142,721,329.35 in Q1 2020[38] - Cash and cash equivalents decreased by 54.85% to ¥232,330,125.97 from ¥514,530,527.32 due to payments for project costs and accounts payable[11] Assets and Liabilities - Total assets decreased by 3.84% from the end of the previous year, amounting to ¥2,282,990,860.14[5] - Current assets totaled ¥1,045,377,081.84, down from ¥1,229,663,149.33, indicating a decrease of about 14.97%[20] - Total liabilities decreased to ¥512,053,056.84 from ¥625,737,187.64, a reduction of about 18.16%[21] - Shareholders' equity increased to ¥1,770,937,803.30 from ¥1,748,367,044.52, reflecting a growth of approximately 1.29%[21] - The company reported a decrease in short-term borrowings to ¥50,045,833.33 from ¥98,055,805.56, a reduction of approximately 48.92%[20] Research and Development - Research and development expenses increased by 37.73% to RMB 4,450,605.65, reflecting higher investment in R&D activities[12] - The company's R&D expenses in Q1 2021 amounted to ¥4,450,605.65, compared to ¥3,231,497.70 in Q1 2020, marking an increase of about 38%[32] Shareholder Information - The total number of shareholders reached 7,987[9] - The largest shareholder, Duan Rongwen, holds 33.47% of the shares, totaling 50,345,000 shares[9] Government Support - Government subsidies recognized in the current period amounted to ¥683,219.46[7] Strategic Initiatives - The company plans to invest in the "Jiacheng International (Hainan) Multifunctional Smart Logistics Center" in Haikou, Hainan, with preliminary planning and design already underway[13] - The company has begun trial operations of the Jiacheng International Port (Phase II) and plans to scale operations within the year, expanding its logistics services for cross-border e-commerce[14] - The company has identified key cities for developing modern international logistics hubs, including Ningbo, Hangzhou, and Zhengzhou, to replicate its cross-border e-commerce logistics model[15] Investment Income - The company reported a 96.22% decrease in investment income to RMB 815,184.44, primarily due to reduced returns from financial products purchased during the period[12]

Dividend Policy - The company plans to distribute a cash dividend of 1.10 RMB per 10 shares, totaling approximately 16,544,000 RMB (including tax) based on a total share capital of 150,400,000 shares as of December 31, 2020[5]. - The company has maintained a consistent dividend distribution policy, adjusting the total distribution amount in case of changes in total share capital before the dividend record date[5]. - The company has consistently provided cash dividends to shareholders, distributing 15.04 million yuan for the 2019 fiscal year and planning a similar distribution for 2020[56]. - The company has implemented a cash dividend policy, planning to distribute 1.10 RMB per share for the year 2020, with a total cash dividend amounting to 16,544,000 RMB[111]. Financial Performance - The company's operating revenue for 2020 was CNY 1,151,376,646.21, a decrease of 3.59% compared to CNY 1,194,210,118.54 in 2019[21]. - The net profit attributable to shareholders for 2020 was CNY 161,618,454.65, an increase of 26.39% from CNY 127,868,422.41 in 2019[21]. - The net cash flow from operating activities decreased by 46.55% to CNY 104,232,318.55 in 2020 from CNY 195,015,550.89 in 2019[21]. - The total assets at the end of 2020 were CNY 2,374,104,232.16, representing a 14.20% increase from CNY 2,078,819,158.42 at the end of 2019[21]. - The basic earnings per share for 2020 was CNY 1.07, up 25.88% from CNY 0.85 in 2019[22]. - The weighted average return on equity increased by 1.39 percentage points to 9.68% in 2020 from 8.29% in 2019[22]. - Operating profit reached CNY 193,338,700, a year-on-year increase of 37.26%[57]. - The company reported a net profit margin of 10.24% for the year 2020, reflecting its profitability and operational efficiency[111]. Audit and Compliance - The company has received a standard unqualified audit report from Huaxing Accounting Firm[4]. - The company has confirmed that all board members attended the board meeting, ensuring the authenticity and completeness of the annual report[6]. - The company has not identified any major risks that could affect the financial report[6]. - The company has not reported any violations of decision-making procedures regarding external guarantees[6]. - The company has not faced any issues with more than half of the directors being unable to guarantee the authenticity of the annual report[6]. - The company has established a governance structure to ensure compliance with regulations and protect investor rights, enhancing its operational stability[105]. - The company has committed to comply with relevant laws and regulations regarding the trading of shares by major shareholders and executives[116]. Market and Industry Trends - In 2020, China's GDP reached 101.6 trillion yuan, with a year-on-year growth of 2.3%, making it the only major economy to grow positively amid the pandemic[33]. - The total logistics cost in China for 2020 was 14.90 trillion yuan, reflecting a year-on-year increase of 2.00%[33]. - The online retail sales in China for 2020 amounted to 11,760.1 billion yuan, growing by 10.90% year-on-year, and accounting for 24.9% of total retail sales[36]. - The logistics cost as a percentage of GDP in China decreased from 16.00% in 2015 to 14.70% in 2020, indicating significant cost reduction and efficiency improvements in the logistics sector[34]. - The logistics industry is expected to see a continued increase in third-party logistics penetration, driven by the demand for efficient and cost-effective logistics solutions[35]. - The logistics industry is expected to maintain a growth rate of over 10%, driven by the expansion of downstream customers and the demand for high-standard warehouses[102]. Strategic Initiatives - The company plans to continue expanding its market presence and enhancing its logistics capabilities in the coming years[19]. - The company has engaged Guodu Securities as the sponsor for its non-public offering of A-shares, indicating a strategic move for capital raising[19]. - The company aims to enhance its logistics services through automation and advanced information management systems, particularly for e-commerce clients[32]. - The company has established a strategic cooperation framework with the Haikou Comprehensive Free Trade Zone Management Committee to invest in a multifunctional smart logistics center in Hainan[41]. - The company aims to achieve a global logistics strategy by establishing a second multifunctional smart logistics center in Yangpu Economic Development Zone, Hainan[41]. - The company plans to invest 2.388 billion RMB in the construction of the "Greater Bay Area (South China) International E-commerce Port" project, covering an area of approximately 90,800 square meters[89]. Research and Development - The company invested CNY 16,948,108.14 in R&D, accounting for 1.47% of operating revenue[70]. - The company has obtained 11 new utility model patents and 9 software copyrights during the reporting period, totaling 112 patents to date[43]. - The company has received multiple patents in 2020, including a stackable tire pallet and a logistics transport balance testing device, each valid for ten years[183][184]. - The company obtained software copyrights for various systems, including a cloud-based customized home logistics management system and an intelligent warehouse management system[184]. Social Responsibility - The company has actively participated in logistics support for COVID-19 prevention efforts, providing transportation services for medical supplies[135]. - The company has fulfilled its social responsibility by participating in the logistics of medical supplies during the COVID-19 pandemic[135]. - Jiacheng International was recognized as a "national key enterprise for epidemic prevention and control" by the National Development and Reform Commission on February 26, 2020[136]. - The company received multiple letters of appreciation from local government and society for its efforts in epidemic prevention[136]. Shareholder Information - The total number of ordinary shareholders at the end of the reporting period was 6,587, down from 6,882 the previous month[142]. - The top five shareholders held a total of 99,300,000 shares, representing 66.78% of the total shares[144]. - The largest shareholder, Duan Rongwen, held 50,345,000 shares, accounting for 33.47% of the total[144]. - The company’s major shareholders committed to not reducing their holdings before the completion of the non-public offering in 2020[140]. Management and Governance - The board of directors consists of individuals with extensive experience in logistics and supply chain management[154]. - The company has maintained a stable management team with no significant turnover reported during the year[152]. - The company has established a salary management system that aligns with market economy and modern enterprise management practices[161]. - The company emphasizes employee training, providing a comprehensive onboarding and continuing education system to enhance overall employee quality[162]. - The company has implemented a labor outsourcing strategy to optimize operational efficiency[164]. Risks and Challenges - The company faces risks related to high customer concentration, which may impact its performance if major clients do not renew contracts[106]. - The company acknowledges potential risks from international political relations and trade policies that could adversely affect its cross-border services[107].

Financial Performance - Net profit attributable to shareholders rose by 22.28% to CNY 132,153,625.79 for the first nine months[6] - Basic and diluted earnings per share increased by 22.22% to CNY 0.88[7] - The company's net profit attributable to the parent company increased by 41.71% year-on-year after deducting non-recurring gains and losses in Q3 2020[17] - Net profit for Q3 2020 was approximately ¥50.47 million, compared to ¥37.25 million in Q3 2019, reflecting an increase of 35.4%[35] - The total comprehensive income for Q3 2020 was approximately ¥49.90 million, compared to ¥37.59 million in Q3 2019, representing a growth of 32.5%[36] - The company reported a total profit of approximately ¥60.21 million in Q3 2020, compared to ¥45.60 million in Q3 2019, marking an increase of 32.0%[35] Revenue and Costs - Operating revenue decreased by 3.98% to CNY 822,017,138.63 compared to the same period last year[6] - The company’s total operating revenue for the first three quarters of 2020 was approximately ¥822.02 million, down from ¥856.10 million in the same period of 2019, a decrease of 4.0%[34] - Total operating costs decreased to approximately ¥267.02 million in Q3 2020 from ¥282.87 million in Q3 2019, a reduction of 5.6%[34] Assets and Liabilities - Total assets increased by 15.71% year-on-year to CNY 2,405,475,428.40[6] - Current liabilities rose to CNY 662,646,261.98, compared to CNY 454,668,122.57, indicating a significant increase of approximately 45.7%[28] - Total liabilities reached CNY 686,414,804.50, up from CNY 476,567,521.92, marking an increase of around 43.9%[28] - Owner's equity increased to CNY 1,719,060,623.90 from CNY 1,602,251,636.50, showing a growth of about 7.3%[28] Cash Flow - Cash flow from operating activities netted CNY 131,757,520.77, a 4.48% increase year-on-year[6] - Operating cash flow for Q3 2020 was CNY 131,757,520.77, up from CNY 126,102,926.13 in Q3 2019, indicating a positive cash flow trend[41] - The company reported a cash and cash equivalents balance of CNY 406,664,175.45 at the end of Q3 2020, up from CNY 256,266,225.62 at the end of Q3 2019[42] - The company’s investment activities resulted in a net cash outflow of CNY 121,775,199.99 in Q3 2020, indicating a strategic investment approach despite the cash outflow[41] Shareholder Information - Total number of shareholders reached 6,541 at the end of the reporting period[11] - The largest shareholder, Duan Rongwen, holds 33.47% of the shares[11] Projects and Investments - The company is progressing on the Jiacheng International Port project, which is expected to begin large-scale operations between March and June of the following year[14] - The Jiacheng International Port project will cover approximately 600,000 square meters and is designed to be the world's largest automated intelligent warehouse and logistics center[15] - The investment in the "Greater Bay Area (South China) International E-commerce Port Project" is estimated at 2.388 billion yuan, covering an area of approximately 90,800 square meters[18] - The company plans to establish a "Cai Niao Global Consolidation Distribution Center" with a proposed area of no less than 350,000 square meters and a designed capacity of approximately millions of orders per day[17] Research and Development - Research and development expenses rose to approximately ¥5.93 million in Q3 2020, up from ¥3.53 million in Q3 2019, indicating a growth of 68.0%[34] - The company incurred R&D expenses of CNY 5,931,600.63 in Q3 2020, a significant increase of 68.1% from CNY 3,527,727.17 in Q3 2019, reflecting a focus on innovation[38] Strategic Collaborations - The collaboration with strategic investors such as GAC Group is expected to significantly enhance the company's market expansion and core competitiveness[20] - The company anticipates that over 70% of its self-owned warehouses will provide logistics services to Alibaba's ecosystem clients in 2021[17]

COVID-19 Response and Social Responsibility - The company provided logistics support for epidemic prevention materials during the COVID-19 pandemic, ensuring the transportation of essential supplies to Wuhan and other cities[7]. - The company received recognition and thanks from various government departments and the community for its contributions during the pandemic[7]. - The company is committed to fulfilling its social responsibilities as a listed company[7]. - The company provided free warehousing services for humanitarian aid materials organized by the United Nations World Food Programme[75]. - The company received preferential loan rates as a key enterprise for epidemic prevention starting from February 11, 2020[76]. - The company was recognized as a "national key enterprise for epidemic prevention and control" by the National Development and Reform Commission on February 26, 2020[76]. Financial Performance - The report period covers from January 1, 2020, to June 30, 2020, and the financial report is unaudited[5][12]. - The company's operating revenue for the first half of 2020 was ¥498,150,793.72, a decrease of 7.03% compared to ¥535,801,617.35 in the same period last year[19]. - The net profit attributable to shareholders for the first half of 2020 was ¥81,221,791.51, an increase of 14.20% from ¥71,122,110.97 in the previous year[19]. - The net cash flow from operating activities decreased by 32.58% to ¥63,761,485.70 from ¥94,568,089.73 in the same period last year[19]. - The total assets at the end of the reporting period were ¥2,246,750,364.39, an increase of 8.08% compared to ¥2,078,819,158.42 at the end of the previous year[19]. - The basic earnings per share for the first half of 2020 was ¥0.54, up 14.89% from ¥0.47 in the same period last year[19]. - The company reported a weighted average return on equity of 4.96%, an increase of 0.26 percentage points from 4.70% in the previous year[19]. - The total comprehensive income for the first half of 2020 was ¥82,035,243.31, compared to ¥71,505,668.46 in the same period of 2019[101]. Industry Overview - The logistics industry in China saw a total social logistics volume of ¥123.4 trillion in the first half of 2020, a year-on-year decrease of 0.5%[27]. - The total revenue of the logistics industry was ¥4.6 trillion, down 2.7% year-on-year, but the decline was narrowing compared to previous months[27]. - The express logistics market experienced a year-on-year growth of 12.0% in the first half of 2020, indicating a recovery trend[27]. - The logistics demand related to the internet has accelerated growth due to promotional policies and events like "6·18" in June[28]. - The industrial logistics decline narrowed by 1.5 percentage points compared to January-May and by 7.1 percentage points compared to the first quarter, indicating a recovery supported by strong demand in new logistics sectors[28]. Company Strategy and Operations - The company focuses on providing integrated supply chain management services and personalized logistics solutions for manufacturing and e-commerce enterprises[24]. - The company has developed a comprehensive supply chain management model, integrating various logistics services including raw material logistics, production logistics, finished product logistics, and reverse logistics[29]. - The company has established long-term partnerships with major manufacturers and e-commerce platforms, enhancing its customer resource advantage and ensuring stable development[33]. - The company has developed proprietary logistics technologies, including TMS and WMS systems, to improve operational efficiency and reduce logistics costs[34]. - The company is strategically positioned in the Guangdong-Hong Kong-Macao Greater Bay Area, leveraging its geographical advantages for logistics operations[35]. - The company has accumulated extensive experience in providing cross-border e-commerce logistics services, supported by all necessary operational qualifications[32]. Risks and Challenges - The report includes a detailed discussion of potential risks faced by the company[6]. - The company faces risks related to high customer concentration and reliance on a limited number of brands, particularly in the home appliance sector[51]. - The company is exposed to fluctuations in the home appliance industry's economic conditions, which could impact revenue[52]. - International political relations and trade policies may adversely affect the company's cross-border services[52]. - The ongoing COVID-19 pandemic poses risks to the company's logistics business, especially with clients having overseas customers[52]. Shareholder and Capital Structure - The total number of ordinary shareholders at the end of the reporting period was 11,739[80]. - The total number of shares held by the top ten shareholders is 84,320,000, accounting for 56.06% of the company's total share capital[87]. - The largest shareholder, Duan Rongwen, holds 50,345,000 shares, representing 33.47% of the total shares[82]. - The company has committed to not reducing its shareholdings for six months following the completion of a non-public offering, which is a strategic move to stabilize shareholder confidence[87]. - Major shareholders have pledged to adhere to share circulation restrictions and voluntary lock-up commitments for two years post-IPO[66]. Accounting and Financial Reporting - The financial statements are prepared in accordance with the Accounting Standards for Business Enterprises, reflecting the company's financial position, operating results, changes in equity, and cash flows accurately[134]. - The company follows specific accounting policies for bad debt provisions, fixed asset depreciation, intangible asset amortization, and revenue recognition based on its operational characteristics[134]. - The company applies the acquisition method for business combinations, measuring assets and liabilities at their fair value on the acquisition date[135]. - The company recognizes impairment losses based on expected credit losses for financial assets measured at amortized cost and those measured at fair value with changes recognized in other comprehensive income[158]. Investment and Financing Activities - The company plans to raise CNY 330 million through a private placement of 25,541,793 shares at CNY 12.92 per share to fund the construction of the second phase of the Jiacheng International Port[44]. - The second phase of the Jiacheng International Port is expected to generate an average annual profit of approximately CNY 170 million upon completion[44]. - The company has received CNY 98 million in special loans for pandemic prevention at a favorable interest rate of about 1%[46]. - Cash inflow from financing activities amounted to CNY 98,000,000.00, with a net cash flow of CNY 97,386,520.96, a significant improvement from a net outflow of CNY -56,546,046.83 in the previous year[108].

Financial Performance - Net profit attributable to shareholders increased by 14.28% to CNY 34,749,443.63 year-on-year[7] - Operating revenue decreased by 28.94% to CNY 156,344,892.41 compared to the same period last year[7] - Basic earnings per share increased by 15.00% to CNY 0.23 per share[7] - The company reported a decrease in net profit after deducting non-recurring gains and losses by 28.68% to CNY 17,727,432.87 compared to the previous year[7] - Total operating revenue for Q1 2020 was ¥156,344,892.41, a decrease of 29.0% compared to ¥220,010,627.67 in Q1 2019[28] - Net profit for Q1 2020 increased to ¥34,810,072.01, up 13.9% from ¥30,660,202.88 in Q1 2019[29] - Basic earnings per share for Q1 2020 were ¥0.23, compared to ¥0.20 in Q1 2019, reflecting a 15.0% increase[29] - Operating profit for Q1 2020 was ¥43,457,545.94, an increase of 24.0% from ¥35,064,740.15 in Q1 2019[29] - The comprehensive income total for Q1 2020 was ¥35,106,005.45, compared to ¥30,383,199.16 in Q1 2019, showing an increase of 15.0%[29] Cash Flow - Net cash flow from operating activities decreased by 91.90% to CNY 1,414,267.56 compared to the previous year[7] - Cash flow from operating activities in Q1 2020 was ¥226,466,777.65, slightly down from ¥227,211,151.86 in Q1 2019[34] - Net cash flow from operating activities was CNY 1,414,267.56, significantly lower than CNY 17,453,891.48 in the previous year[35] - Cash inflow from investment activities totaled CNY 212,125,100.24, compared to CNY 535,622,730.19 in Q1 2019[36] - Net cash flow from investment activities was -CNY 252,861,553.70, worsening from -CNY 79,331,556.35 year-over-year[36] - Cash inflow from financing activities was CNY 98,000,000.00, with net cash flow from financing activities at CNY 97,843,744.45[36] - The ending balance of cash and cash equivalents was CNY 181,669,072.08, down from CNY 333,497,858.46 at the beginning of the period[36] - Total cash outflow for operating activities was CNY 228,440,288.76, compared to CNY 217,349,912.33 in Q1 2019[35] - Total cash outflow for investment activities was CNY 464,986,653.94, compared to CNY 614,954,286.54 in Q1 2019[36] - The company reported a net increase in cash and cash equivalents of -CNY 151,828,786.38 for the quarter[36] Assets and Liabilities - Total assets increased by 0.58% to CNY 2,090,800,908.85 compared to the end of the previous year[7] - Cash and cash equivalents decreased by 44.10% to ¥227,725,712.38 from ¥407,352,114.11 due to investments in financial products and payment of maturing notes[13] - Other current assets increased by 318.15% to ¥455,670,947.25 from ¥108,974,219.61 primarily due to the increase in principal-protected financial products[13] - Current liabilities totaled ¥430,775,924.06, a decrease from ¥454,668,122.57, indicating a reduction of about 5.2%[22] - Non-current liabilities decreased slightly to ¥21,850,412.00 from ¥21,899,399.35, showing a decline of approximately 0.2%[23] - Total liabilities amounted to ¥452,626,336.06, down from ¥476,567,521.92, indicating a decrease of about 5.0%[23] - Shareholders' equity increased to ¥1,638,174,572.79 from ¥1,602,251,636.50, representing a growth of about 2.2%[23] - The company's retained earnings increased to ¥753,690,122.61 from ¥718,111,075.28, a growth of approximately 4.9%[23] - Accounts receivable rose to ¥140,739,570.80 from ¥129,022,391.28, an increase of about 9.0%[24] - Inventory increased to ¥18,009,586.39 from ¥14,109,154.00, reflecting a growth of approximately 27.5%[25] - Other receivables surged to ¥177,487,332.76 from ¥80,611,103.61, marking an increase of about 120.2%[25] Government Support and Recognition - The company received government subsidies amounting to CNY 374,368.48 during the reporting period[9] - The company received recognition as a "national key enterprise for epidemic prevention and control," providing logistics support for pandemic-related needs[19] Technological Advancements - The company obtained several patents and software copyrights, enhancing its technological capabilities in logistics management[16][17] Strategic Moves - The company expanded its business cooperation with Zhejiang Cainiao and plans to develop full supply chain services in the automotive sector[15] Investment Income - Investment income surged by 213.36% to ¥21,571,476.65 from ¥6,883,898.94, mainly due to price changes from the disposal of financial assets[14]

Financial Performance - The company's operating revenue for 2019 was CNY 1,194,210,118.54, representing a year-on-year increase of 7.05% compared to CNY 1,115,613,222.21 in 2018[21]. - The net profit attributable to shareholders of the listed company decreased by 7.02% to CNY 127,868,422.41 in 2019 from CNY 137,525,264.12 in 2018[21]. - The net profit after deducting non-recurring gains and losses increased by 22.49% to CNY 146,328,742.92 in 2019, compared to CNY 119,459,262.01 in 2018[21]. - The net cash flow from operating activities surged by 100.38% to CNY 195,015,550.89 in 2019, up from CNY 97,321,493.73 in 2018[21]. - The total assets at the end of 2019 reached CNY 2,078,819,158.42, a 10.52% increase from CNY 1,880,962,065.61 at the end of 2018[21]. - The basic earnings per share for 2019 was CNY 0.85, down 6.59% from CNY 0.91 in 2018[22]. - The weighted average return on equity decreased by 1.34 percentage points to 8.29% in 2019 from 9.63% in 2018[22]. - The company reported a net profit of CNY 30,406,245.98 in Q1 2019, with a total operating revenue of CNY 220,010,627.67 for the same quarter[24]. - The total net profit attributable to shareholders for Q4 2019 was CNY 19,790,175.06, with an operating revenue of CNY 338,111,495.74[24]. - The total non-recurring gains and losses for 2019 amounted to CNY -18,460,320.51, compared to CNY 18,066,002.11 in 2018[27]. Dividend Policy - The company plans to distribute a cash dividend of 1.00 yuan (including tax) for every 10 shares, totaling 15,040,000.00 yuan based on a total share capital of 150,400,000 shares as of December 31, 2019[5]. - The company does not plan to issue bonus shares or convert reserves into share capital for the 2019 fiscal year[5]. - For the fiscal year 2019, the company distributed a cash dividend of 1.00 CNY per 10 shares, totaling 15,040,000.00 CNY, with a net profit attributable to ordinary shareholders of 127,868,422.41 CNY, resulting in a payout ratio of 11.76%[136]. - In 2018, the cash dividend was also 1.00 CNY per 10 shares, with the same total amount of 15,040,000.00 CNY, and a net profit of 137,525,264.12 CNY, leading to a payout ratio of 10.94%[136]. - In 2017, the company paid a cash dividend of 2.00 CNY per 10 shares, totaling 30,080,000.00 CNY, with a net profit of 118,814,266.16 CNY, resulting in a higher payout ratio of 25.32%[136]. - The company has established a cash dividend policy in accordance with regulatory requirements, emphasizing shareholder returns while considering growth and development[134]. Audit and Compliance - The company has received a standard unqualified audit report from Huaxing Accounting Firm[4]. - The company has not faced any non-operating fund occupation by controlling shareholders or related parties[6]. - The company emphasizes the importance of accurate and complete financial reporting, with all board members present at the board meeting[7]. - The company has not encountered any non-standard audit opinions from the accounting firm during the reporting period[148]. - There were no major litigation or arbitration matters reported for the year 2019[152]. - The company has not reported any instances of funds being occupied or overdue receivables during the reporting period[148]. Logistics and Operations - The main business involves providing integrated supply chain management and personalized global logistics solutions for manufacturing and e-commerce enterprises[31]. - The company has established a logistics network and operational points in several domestic cities, enabling nationwide transportation services[33]. - The company has implemented a MILKRUN transportation management scheme, optimizing routes to ensure full vehicle loads and reduce transportation costs[34]. - The company has built a logistics center in Nansha Free Trade Zone with a storage area of approximately 120,000 square meters, offering specialized bonded logistics services[39]. - The company has become the sales agent for the full range of Panasonic products in the Guangzhou region, expanding both online and offline sales channels[43]. - The company utilizes a VMI model for inventory management, allowing for just-in-time delivery of materials to manufacturing lines[40]. - The company has established a bonded logistics transportation service that integrates import and export processes, improving efficiency and reducing costs[35]. - The company has developed a comprehensive logistics service model that includes raw material logistics, production logistics, finished product logistics, and reverse logistics[44]. - The company aims to achieve zero inventory management for manufacturing enterprises by optimizing the procurement and delivery processes[45]. - The company operates 9 subsidiaries and 21 logistics bases across cities including Guangzhou, Hong Kong, Beijing, Shanghai, and Hangzhou, with a total warehouse area of approximately 530,000 square meters as of the end of 2019[63]. - In 2019, the company transported approximately 3.8 million tons of goods, with over 1,680 self-owned and cooperative freight vehicles, and an average of 710 vehicle dispatches per day[64]. Investments and Future Plans - The company plans to expand its full supply chain integration model into the automotive logistics sector, leveraging the Jiacheng International Port (Phase II) to create a highly automated automotive logistics service center[110]. - The company is developing the Greater Bay Area (South China) International E-commerce Port project, aiming to integrate smart logistics, product exhibition, and e-commerce platforms[110]. - The company aims to pursue horizontal mergers and acquisitions with synergistic companies to enhance its market share in the full supply chain logistics sector[112]. - The company is committed to transforming into a technology-driven logistics company, focusing on investments in IoT, AI, big data, and cloud computing[112]. - The company is focused on digitalization and automation in supply chain management, utilizing technologies like AGV and GPS tracking for operational efficiency[113]. - The company aims to achieve a platform-based supply chain management model that integrates manufacturing and service elements[114]. - The company plans to advance the construction of the Jiacheng International Port (Phase II) and aims to apply for it to become a national logistics hub in 2020[116]. Shareholder Structure - The top shareholder, Duan Rongwen, holds 50,345,000 shares, representing 33.47% of the total shares[170]. - Guangdong Hengshang Investment Management Co., Ltd. holds 13,005,000 shares, accounting for 8.65% of the total shares[170]. - The total number of shares held by the top ten shareholders is 110,000,000, which constitutes a significant portion of the company's equity[170]. - The company does not have a controlling shareholder, and the actual controller is identified as Duan Rongwen, who is also the chairman[173]. - The company has no record of any changes in controlling shareholders during the reporting period[175]. Employee and Management - The total number of employees in the parent company is 796, while the total number of employees in the parent company and major subsidiaries is 1,087[186]. - The company has established a comprehensive training program to enhance employee skills and knowledge[188]. - The total hours of outsourced labor amounted to 933,200 hours, with total payments for outsourced labor reaching 17.3487 million yuan[189]. - The company’s board includes members with extensive experience in logistics and supply chain management, enhancing its operational capabilities[180]. - The company’s financial director, Wang Yingzhen, has a background in finance with previous roles in various companies, indicating strong financial oversight[180]. Corporate Social Responsibility - The company has a commitment to social responsibility, demonstrated through its donations and environmental initiatives[162]. - A total of ¥60,000 was donated to the Guangzhou Yuexiu Education Development Foundation to support educational initiatives[162]. - The company has implemented measures to reduce carbon emissions, including optimizing supply chain management and adopting green transportation methods[164].

Financial Performance - Total assets increased by 17.27% year-on-year, reaching RMB 2,205,827,346.04[8] - Net assets attributable to shareholders increased by 5.97% year-on-year, totaling RMB 1,575,111,443.39[8] - Revenue for the first nine months increased by 10.11% year-on-year, reaching RMB 856,098,622.80[8] - Net profit attributable to shareholders rose by 5.82% year-on-year, totaling RMB 108,078,247.35[8] - Net profit attributable to shareholders after deducting non-recurring gains and losses increased by 8.22% year-on-year, amounting to RMB 91,014,066.93[8] - Basic and diluted earnings per share increased by 5.88% year-on-year, reaching RMB 0.72[9] - The weighted average return on equity decreased by 0.15 percentage points to 7.06%[9] - The company reported a total equity attributable to shareholders of CNY 1,575,111,443.39, up from CNY 1,486,365,097.61, representing an increase of approximately 6.0%[31] - Total operating revenue for Q3 2019 reached ¥320.30 million, a 17.7% increase from ¥272.17 million in Q3 2018[36] - Net profit for Q3 2019 was ¥37.25 million, compared to ¥39.53 million in Q3 2018, indicating a decrease of 5.8%[37] - The company achieved a total comprehensive income of ¥37.59 million in Q3 2019, compared to ¥40.11 million in Q3 2018[38] Cash Flow and Liquidity - Operating cash flow for the period increased by 83.44% year-on-year, amounting to RMB 126,102,926.13[8] - Net cash flow from operating activities increased by 83.44% to RMB 126,102,926.13, due to higher cash receipts and increased accounts payable[15] - Cash and cash equivalents increased by 65.38% to RMB 337,503,674.89 compared to RMB 204,072,805.49 at the end of 2018[14] - The company reported a net increase in cash and cash equivalents of CNY 39,070,194.89 for Q3 2019, contrasting with a decrease of CNY 950,575.95 in Q3 2018[44] - Total cash and cash equivalents at the end of Q3 2019 amounted to CNY 256,266,225.62, slightly down from CNY 261,052,310.58 at the end of Q3 2018[42] - Cash outflow from financing activities in Q3 2019 totaled CNY 76,382,386.63, compared to CNY 42,445,095.61 in Q3 2018, reflecting an increase of 80.0%[42] Assets and Liabilities - Total current assets as of September 30, 2019, were RMB 1,317,029,829.44, compared to RMB 1,179,234,108.51 at the end of 2018[29] - Current liabilities rose to CNY 599,987,322.97 from CNY 361,676,092.04, reflecting an increase of approximately 65.8%[31] - Total liabilities reached CNY 624,700,129.48, up from CNY 380,410,323.20, marking a growth of around 64.2%[31] - Shareholders' equity increased to CNY 1,581,127,216.56 from CNY 1,500,551,742.41, showing a growth of about 5.4%[31] - Accounts receivable increased by 34.86% to RMB 85,544,921.53, primarily due to an increase in received notes[14] - Inventory surged by 114.06% to RMB 298,947,896.90, driven by seasonal procurement for e-commerce business[14] Investments and Financial Management - The company plans to use up to RMB 70 million of temporarily idle raised funds to supplement working capital for a period not exceeding 12 months[17] - The company has fully repaid RMB 100 million of previously used temporary funds back to the fundraising account[17] - The company approved the use of up to RMB 60 million of temporarily idle raised funds for cash management, with an investment decision validity period of 12 months from September 9, 2019[19] - The company previously used RMB 280 million of temporarily idle raised funds for cash management, which was fully returned to the designated account by September 3, 2019[18] - The company is committed to investing in low-risk financial products through entrusted wealth management, reflecting a conservative financial strategy[21] Research and Development - Research and development expenses for Q3 2019 were ¥3.53 million, slightly down from ¥3.66 million in Q3 2018[36] - Research and development expenses for Q3 2019 were CNY 3,527,727.17, slightly down from CNY 3,664,475.67 in Q3 2018[39] Regulatory and Compliance - The company has adopted a new format for consolidated financial statements as of September 19, 2019, in compliance with regulatory requirements[25] - The company implemented new financial instrument standards starting January 1, 2019, with no retrospective adjustments to prior comparative data due to the limited variety of financial instruments held[52] - The company is not subject to an audit report for this quarter[53]