Investment Rating - The investment rating for the company is "Accumulate" (maintained) [4][26]. Core Views - In 2023, the company achieved operating revenue of 3.783 billion yuan, a year-on-year decline of 4.41%, while net profit attributable to shareholders was 70 million yuan, a significant increase of 291.79% [4]. - The company plans to distribute a cash dividend of 0.70 yuan per 10 shares (tax included) for the year 2023 [4]. - The company reported a revenue of 903 million yuan in Q1 2024, representing a year-on-year growth of 2.18% [4]. Summary by Sections Revenue Breakdown - The logistics and related services segment generated revenue of 3.761 billion yuan in 2023, down 4.46% year-on-year, with a gross margin of 10.44%, an increase of 1.54 percentage points [5]. - The complete vehicle transportation business recorded revenue of 2.698 billion yuan, a decline of 11.40%, accounting for 71.33% of total revenue [5]. - International business revenue reached 796 million yuan, up 18.94%, contributing 21.05% to total revenue, with a gross margin increase of 9.33 percentage points to 23.18% [5]. - The new energy business saw revenue of 44 million yuan, a remarkable growth of 304.43%, with a gross margin of 10.89%, up 4.86 percentage points [5]. Future Outlook - The company plans to purchase a 6200RT international car roll-on/roll-off ship for 59 million USD, which is expected to enhance its international shipping capacity and expand its international business layout [7]. - The company forecasts operating revenues of 5.568 billion yuan, 6.724 billion yuan, and 7.760 billion yuan for 2024, 2025, and 2026, respectively, with year-on-year growth rates of 47.18%, 20.75%, and 15.42% [26]. - Net profit attributable to shareholders is projected to be 299 million yuan, 383 million yuan, and 449 million yuan for the same years, with growth rates of 325.33%, 27.79%, and 17.42% [26].

Investment Rating - The report maintains a "Buy" rating for the company, indicating an expectation that the stock price will outperform the benchmark index by more than 20% within the next six months [36]. Core Views - The company's logistics and related services recorded revenue of 3.761 billion yuan in 2023, a year-on-year decline of 4.46%, while the gross margin increased by 1.54 percentage points to 10.44% [4]. - The report highlights that the company's vehicle transportation business faced challenges, but the introduction of a 7000RT automobile transport ship is expected to enhance international shipping capacity and expand international business growth [28]. - The company has made significant strides in its international business, with revenue from international operations reaching 796 million yuan, a year-on-year increase of 18.94%, and a gross margin improvement of 9.33 percentage points to 23.18% [4]. - The new energy business saw remarkable growth, with revenue increasing by 304.43% to 44 million yuan, and the gross margin improved by 4.86 percentage points to 10.89% [4]. Summary by Sections Financial Performance - In 2023, the company achieved an operating income of 3.783 billion yuan, a decrease of 4.41% year-on-year, while the net profit attributable to shareholders was 70 million yuan, an increase of 291.79% [25]. - The forecast for 2024-2026 projects operating revenues of 5.568 billion yuan, 6.724 billion yuan, and 7.760 billion yuan, with year-on-year growth rates of 47.18%, 20.75%, and 15.42% respectively [28]. - The net profit attributable to shareholders is expected to reach 299 million yuan, 383 million yuan, and 449 million yuan for the same period, reflecting growth rates of 325.33%, 27.79%, and 17.42% respectively [28]. Business Segments - The vehicle transportation segment generated revenue of 2.698 billion yuan, down 11.40% year-on-year, while the gross margin decreased to 6.20% [4]. - The international business segment's revenue growth was driven by increased transportation volume, contributing to a significant gross margin improvement [4]. - The new energy segment's growth is supported by the acquisition of Guangdong Dido Holdings and the establishment of sales channels in overseas markets [4]. Future Outlook - The report anticipates continued growth in the company's new energy business, leveraging its existing market networks and cost-reduction strategies [28]. - The company is expected to enhance its international logistics capabilities through strategic investments in specialized transport vessels [27].

一、 上市公司股份质押 公司于 2024 年 5 月 16 日接到控股股东长久集团通知，获悉其所持有本公司 的部分股份被质押，具体事项如下。 1、本次股份质押基本情况 2024 年 5 月 15 日，长久集团与国民信托有限公司（以下简称"国民信托"） 办理了股票质押业务，将部分无限售条件流通股股份质押给国民信托。具体情况 债券代码:113519 债券简称:长久转债 证券代码:603569 证券简称:长久物流 公告编号：2024-051 重要内容提示： 关于控股股东部分股份质押的公告 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个别及连带责任。 北京长久物流股份有限公司 北京长久物流股份有限公司（以下简称"公司"）控股股东吉林省长久实 业集团有限公司（以下简称"长久集团"）持有公司股份 371,240,533 股，占公司总股本的 61.52%；累计质押公司股份 204,186,444 股，占其 所持公司股份的 55.00%，占公司总股本的 33.84%。 控股股东长久集团及其一致行动人上海汇瑾资产管理有限公司-汇瑾尊 越 1 号私募证券 ...

Financial Performance - In 2023, the company achieved operating revenue of CNY 3.783 billion, a decrease of 4.41% year-on-year [1] - The net profit attributable to shareholders was CNY 703.933 million, an increase of 291.79% year-on-year, with a gross profit margin of 10.69%, up by 1.56 percentage points [1] - The total number of vehicles transported in 2023 was 2.6219 million, a decline of 10.27%, with passenger vehicle transport at 2.4408 million (down 13.34%) and commercial vehicle transport at 181,200 (up 72.08%) [1] - In Q1 2024, the company reported operating revenue of CNY 1.491 billion, a year-on-year increase of 2.18%, and a net profit of CNY 15.77 million [1] Business Overview - Changjiu Logistics, listed in 2016, is the first A-share listed third-party automotive logistics company in China, providing comprehensive logistics solutions for the automotive industry [3] - The company operates three main business segments: complete vehicle logistics, international logistics, and new energy logistics [3] - The complete vehicle logistics segment includes transportation and supporting services, which are the primary source of revenue [3] - The international logistics segment offers door-to-door transportation solutions, including full container and less-than-container load services [3] - The new energy logistics segment focuses on battery recycling and reverse logistics, promoting a closed-loop system for battery utilization [3] Market Insights - In 2023, China's automotive export volume reached 4.91 million units, a year-on-year increase of 57.9%, with a forecast of 5.5 million units by 2025 [4] - The company anticipates a continued imbalance between demand and supply in the roll-on/roll-off shipping market, with a potential increase in freight rates over the next two years [4] - The company has two ocean-going roll-on/roll-off ships in operation and plans to purchase an additional ship with a capacity of 6200RT [4] Production Capacity - The Chuzhou factory covers an area of 10,000 square meters and is designed for battery pack disassembly, assembly, and testing, with an annual production capacity of 2GWh [5] - The factory focuses on the new energy industry chain, producing products for various applications, including energy storage and battery recycling [5]

北京长久物流股份有限公司 2023 年年度股东大会会议资料 603569 中国·北京 二〇二四年五月 北京长久物流股份有限公司 2023 年年度股东大会会议资料 北京长久物流股份有限公司 2023 年年度股东大会会议资料 2023 年年度股东大会会议议程 一、会议时间、地点 （一）现场股东大会 日期、时间：2024 年 5 月 17 日（星期五）下午 14:30 地点：北京长久物流股份有限公司会议室（北京市朝阳区石各庄路 99 号长 久物流） （二）网络投票 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 2024 年 5 月 17 日至 2024 年 5 月 17 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 东大会召开当日的交易时间段，即 9:15-9:25,9:30-11:30，13:00-15:00；通过 互联网投票平台的投票时间为股东大会召开当日的 9:15-15:00。 二、会议召集人 北京长久物流股份有限公司董事会 三、会议表决方式 现场投票和网络投票相结合 四、会议内容 （一）董事长薄世久先生宣布北京长久物流股份有限公司 2023 年年度股东 ...

Investment Rating - The report maintains a "Buy" rating for the company, indicating a positive outlook for the next six months [6]. Core Insights - The company reported a significant increase in net profit for 2023, achieving a year-on-year growth of 291.79%, despite a slight decline in revenue [1]. - The business structure is continuously optimizing, with a stable recovery in profitability, as evidenced by an increase in gross margin [2]. - The company is expanding its shipping capacity through asset acquisitions, which is expected to enhance its performance amid high international shipping rates [3]. - The company is transitioning towards a data-driven enterprise by integrating various data assets and exploring the value conversion of digital assets [4]. Summary by Sections Financial Performance - In 2023, the company achieved operating revenue of 3.783 billion yuan, a decrease of 4.41% year-on-year, while net profit attributable to shareholders reached 70.39 million yuan, up 291.79% [5]. - For Q1 2024, the company reported operating revenue of 903 million yuan, an increase of 2.18% year-on-year, and a net profit of 15 million yuan, reflecting a year-on-year growth of 15.77% [1][2]. Business Segments - Domestic vehicle business generated revenue of 2.698 billion yuan in 2023, down 11.40%, with a gross margin of 6.20% [2]. - International business revenue increased by 18.94% to 796 million yuan, with a gross margin of 23.18% [2]. - New energy business saw a remarkable growth of 304.42%, achieving revenue of 44 million yuan [2]. Shipping Capacity Expansion - The company acquired a 7000RT international car carrier in 2023, increasing its shipping capacity significantly [3]. - The daily rental rate for a 6500CEU car carrier reached 115,000 USD by the end of 2023, marking a 10% increase year-on-year [3]. Data-Driven Transformation - The company acquired 100% equity of an automotive data technology firm, focusing on data model development and digital asset value conversion [4]. - Collaborations in the fields of autonomous driving and artificial intelligence are expected to enhance the company's data asset valuation [4].

Financial Performance - The company's operating revenue for Q1 2024 was ¥902,782,756.92, representing a 2.18% increase compared to ¥883,076,376.75 in the same period last year[5] - Net profit attributable to shareholders for Q1 2024 was ¥14,908,077.49, up 15.77% from ¥12,962,679.91 in the previous year[5] - The net profit attributable to shareholders after deducting non-recurring gains and losses increased by 30.03% to ¥16,584,796.73 from ¥9,789,857.01 year-on-year[5] - Total operating revenue for Q1 2024 reached ¥902,782,756.92, an increase from ¥883,525,063.47 in Q1 2023, representing a growth of approximately 2.83%[22] - Net profit for Q1 2024 was ¥22,848,862.57, up from ¥17,637,682.86 in Q1 2023, reflecting a growth of approximately 29.80%[23] - The company's operating profit for Q1 2024 was ¥16,357,489.66, compared to ¥5,814,976.79 in Q1 2023, showing a significant increase of about 180.73%[23] Cash Flow - The net cash flow from operating activities decreased by 42.41% to ¥41,505,918.74 compared to ¥72,046,636.61 in the same period last year[6] - The company's cash flow from operating activities for Q1 2024 showed a positive trend, contributing to the overall financial stability[25] - In Q1 2024, the cash inflow from operating activities was CNY 1,044,221,443.22, a decrease of 3.6% compared to CNY 1,083,627,863.54 in Q1 2023[27] - The net cash flow from operating activities was CNY 41,505,918.74, down 42.3% from CNY 72,073,502.06 in the same period last year[27] - The cash inflow from financing activities was CNY 228,210,614.86, a decrease of 24.7% compared to CNY 303,014,166.67 in Q1 2023[27] - The net cash flow from financing activities was -CNY 31,381,346.47, compared to -CNY 4,189,082.22 in the previous year, indicating a worsening cash position[27] - The total cash outflow from investing activities was CNY 6,511,870.81, a decrease of 57.5% from CNY 15,324,347.08 in Q1 2023[27] - The net cash flow from investing activities was CNY 1,685,093.69, a significant improvement from -CNY 15,069,709.50 in the same quarter last year[27] Assets and Liabilities - Total assets at the end of Q1 2024 were ¥5,648,183,943.08, a slight decrease of 0.25% from ¥5,661,963,935.96 at the end of the previous year[6] - Total liabilities for Q1 2024 were ¥2,412,778,434.36, down from ¥2,445,561,444.33 in Q1 2023, indicating a reduction of approximately 1.34%[19] - As of March 31, 2024, total current assets amount to RMB 2,459,257,628.75, an increase from RMB 2,437,478,738.51 at the end of 2023[17] - Cash and cash equivalents are reported at RMB 616,746,829.91, compared to RMB 608,784,420.31 at the end of 2023[17] - Accounts receivable stand at RMB 1,224,900,355.43, down from RMB 1,274,835,533.49 in the previous period[17] - Inventory has increased to RMB 125,770,173.10 from RMB 112,179,244.54[17] - Long-term equity investments are valued at RMB 502,810,714.98, slightly up from RMB 502,710,031.12[17] Shareholder Information - The largest shareholder, Jilin Changjiu Industrial Group Co., Ltd., holds 401,440,533 shares, accounting for 66.52% of total shares[13] - The total number of common shareholders at the end of the reporting period is 28,099[14] - The company has no significant changes in the shareholding structure or participation in margin financing and securities lending[14] Research and Development - Research and development expenses increased significantly by 315.20%, indicating a higher investment in project development[10] - Research and development expenses increased to ¥771,435.84 in Q1 2024 from ¥185,797.51 in Q1 2023, marking a significant rise of approximately 314.56%[23] Other Information - There are no other important reminders regarding the company's operational situation during the reporting period[15] - The financial statements are unaudited for the reporting period[15] - The company reported a decrease in other comprehensive income, with a net amount of -¥4,267,390.54 in Q1 2024 compared to ¥1,384,918.49 in Q1 2023[24] - The company received CNY 224,953,108.33 in borrowings, down 25.7% from CNY 303,000,000.00 in Q1 2023[27] - The cash received from tax refunds increased to CNY 1,317,112.57 from CNY 153,951.54 in the previous year, showing a significant improvement[27]

北京长久物流股份有限公司 2023 年度 可转债募集资金年度存放与使用情况鉴证报告 | 蒙引 觉得 | | --- | | 鉴证报告 1-2 | | 关于可转债募集资金 2023 年度存放与使用情况的专项报告 1-9 | 信永中和会计师事务所 | 北京市东城区朝阳门北大街 | 8 号官华十厦 A 座 9 层 Dongcheng District, Beijing, 100027 P.R.China certified public accountants 9/F. Block A. Fu Hua Mansion No.8. Chaovangmen Bei 联系电话: +86(010) 6554 2288 telephone: +86 (010) 6554 2288 6 (010) 6554 7190 86 (010) 6554 7190 可转债募集资金年度存放与使用情况鉴证报告 XYZH/2024BJAA2F0107 北京长久物流股份有限公司 XYZH/2024BJAA2F0107 北京长久物流股份有限公司 北京长久物流股份有限公司全体股东: 我们对后附的北京长久物流股份有限公司(以下简称长久物流公司)关于可 ...

北京长久物流股份有限公司 监事会关于公司会计政策变更的说明 北京长久物流股份有限公司（以下简称"公司"）于 2024 年 4 月 26 日召开 第五届监事会第二次会议，审议通过了《关于公司会计政策变更的议案》。 一、本次会计政策变更概述 财政部于 2022 年 11 月 30 日发布的《关于印发<企业会计准则解释第 16 号> 的通知》（财会〔2022〕31 号），其中"关于单项交易产生的资产和负债相关的 递延所得税不适用初始确认豁免的会计处理"的规定，公司于 2023 年 1 月 1 日 起施行。 财政部于 2023 年 10 月 25 日发布的《关于印发<企业会计准则解释第 17 号> 的通知》（财会〔2023〕21 号），其中"关于流动负债与非流动负债的划分"、 "关于供应商融资安排的披露"、"关于售后租回交易的会计处理"的规定，公 司于 2024 年 1 月 1 日起施行。 公司于 2023 年 6 月 15 日投资并购广东迪度新能源有限公司（以下简称"广 东迪度"），该公司从事动力锂电池梯次利用的研发、生产、销售等业务，根据 其行业特点，存货的计价方法采用加权平均法能够提供更可靠、更相关的会计信 息 ...

| 股票代码：603569 | 股票简称：长久物流 公告编号：2024-032 | | --- | --- | | 债券代码：113519 | 债券简称：长久转债 | 二、 公司履行的决策程序 每股分配比例：A 股每股派发现金红利 0.07 元（含税）。 本次利润分配以实施权益分派股权登记日的总股本为基数，具体日期将 在权益分派实施公告中明确。 在实施权益分派的股权登记日前公司总股本发生变动的，拟维持每股分 配比例不变，相应调整分配总额，并将另行公告具体调整情况。 本次利润分配预案已经北京长久物流股份有限公司（以下简称"公司"） 第五届董事会第二次会议、第五届监事会第二次会议审议通过，尚需提 交公司 2023 年年度股东大会审议。 （一） 董事会召开、审议及表决情况 2024 年 4 月 26 日，公司第五届董事会第二次会议审议通过《关于公司 2023 年度利润分配预案的议案》，同意将该方案提交公司 2023 年年度股东大会审议。 表决结果：7 票同意、0 票反对、0 票弃权。 北京长久物流股份有限公司 关于公司 2023 年度利润分配预案的公告 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 ...