江苏新宁现代物流股份有限公司 2020 年第三季度报告全文 2020-095 2020 年 10 月 1 江苏新宁现代物流股份有限公司 2020 年第三季度报告全文 第一节 重要提示 公司董事会、监事会及董事、监事、高级管理人员保证季度报告内容的真实、准确、完 整，不存在虚假记载、误导性陈述或者重大遗漏，并承担个别和连带的法律责任。 除下列董事外，其他董事亲自出席了审议本次季报的董事会会议 江苏新宁现代物流股份有限公司 2020 年第三季度报告 | 未亲自出席董事姓名 | 未亲自出席董事职务 | 未亲自出席会议原因 | 被委托人姓名 | | --- | --- | --- | --- | | 田旭 | 董事 | 个人原因 | 梅林 | 公司负责人周博、主管会计工作负责人马汝柯及会计机构负责人(会计主管人员)王俊志 声明：保证季度报告中财务报表的真实、准确、完整。 2 江苏新宁现代物流股份有限公司 2020 年第三季度报告全文 第二节 公司基本情况 一、主要会计数据和财务指标 公司是否需追溯调整或重述以前年度会计数据 □ 是 √ 否 | | 本报告期末 | 上年度末 | | 本报告期末比上年度末增减 | | - ...

Financial Performance - The company's operating revenue for the first half of 2020 was ¥361,907,701.55, a decrease of 23.72% compared to ¥474,453,238.85 in the same period last year[21]. - The net profit attributable to shareholders was a loss of ¥11,693,605.40, representing a decline of 139.64% from a profit of ¥29,496,972.54 in the previous year[21]. - The net profit after deducting non-recurring gains and losses was a loss of ¥34,672,888.17, a decrease of 239.71% compared to a profit of ¥24,817,492.08 in the same period last year[21]. - The basic earnings per share were -¥0.03, a decline of 130.00% compared to ¥0.10 in the same period last year[21]. - The diluted earnings per share were also -¥0.03, reflecting the same decline of 130.00% from the previous year[21]. - The weighted average return on net assets was -1.45%, a decrease of 3.52% from 2.07% in the previous year[21]. - The company achieved operating revenue of CNY 36,190.77 million, a year-on-year decrease of 23.72%[31]. - The company's operating profit was CNY -375.65 million, a year-on-year decrease of 109.94%[39]. - The net profit attributable to shareholders of the parent company was CNY -1,169.36 million, a year-on-year decrease of 139.64%[39]. - The company reported a net loss of CNY 418,042,721.13 in retained earnings, compared to a loss of CNY 406,349,115.73 previously[152]. Cash Flow and Investments - The net cash flow from operating activities improved to ¥15,831,059.74, a 123.81% increase from a negative cash flow of ¥66,482,371.63 in the previous year[21]. - Cash flow from investing activities saw a significant increase of 361.20%, amounting to ¥133,209,362.93, primarily due to the recovery of some investment funds[43]. - The total cash inflow from investment activities was ¥148,555,337.80, while cash outflow was ¥15,345,974.87, resulting in a net cash inflow of ¥133,209,362.93, compared to a net outflow of ¥50,998,934.16 in the previous year[168]. - The company reported a cash flow from financing activities net outflow of ¥169,884,437.09, contrasting with a net inflow of ¥43,222,003.59 in the first half of 2019[168]. - The company reported a significant increase in cash received from other operating activities, totaling ¥196,558,194.55, compared to ¥69,089,549.68 in the previous year[167]. Revenue Breakdown - The revenue from warehousing and related logistics services decreased by 15.99% compared to the same period last year[31]. - The revenue from satellite navigation positioning equipment sales and services decreased by 47.52% compared to the same period last year[31]. - The sales revenue in the East China region decreased by 19.55% year-on-year, while the sales revenue in the South China region decreased by 23.64%[31]. - The sales revenue in the Hong Kong, Macau, and Taiwan regions increased by 41.70% compared to the same period last year[31]. - The service sector generated revenue of approximately ¥324.86 million, down 23.19% from the previous year, with a gross margin of 26.54%[47]. - The warehousing and logistics services contributed approximately ¥300.85 million in revenue, reflecting a 15.99% decline year-over-year, with a gross margin of 27.65%[47]. Strategic Initiatives - The company plans to expand its business channels and has established an industrial merger fund to accelerate development and improve its industrial layout[5]. - The company has a strategic focus on "smart warehousing and intelligent transportation" to enhance logistics service levels and reduce operational costs[33]. - The company plans to establish a joint venture with Suqian JD Zhenyue Enterprise Management Co., Ltd. to enhance logistics service intelligence and expand business service areas[40]. - The company has made progress in the intelligent upgrade and transformation of its warehousing services, particularly in its Hefei finished product intelligent warehouse and subsidiaries in Kunshan and Suzhou[40]. Legal and Compliance Issues - The company is facing five pending lawsuits related to a fire incident at a subsidiary's warehouse, which may impact its financial status and cash flow[71]. - The company reported a significant lawsuit involving an amount of CNY 21,287.54 million, which is currently in the first instance and has not yet been adjudicated[88]. - The company has made commitments regarding non-competition and conflict of interest, which have been adhered to without any violations reported[85]. - The company has not faced any penalties or rectification issues during the reporting period[92]. Shareholder and Governance Matters - The company has maintained a high level of participation in shareholder meetings, with investor participation rates ranging from 21.18% to 31.16% in various meetings held during the reporting period[76]. - The company is committed to avoiding any conflicts of interest with its controlling shareholders and ensuring compliance with competitive business practices[79]. - The company guarantees that its senior management will not hold dual positions in the controlling shareholder's enterprises, ensuring independent management and decision-making[82]. - The controlling shareholders hold a total of 93,967,118 shares, accounting for 21.04% of the total share capital, all of which are subject to judicial freezing[93]. Financial Position - Total assets at the end of the reporting period were ¥1,746,425,208.67, down 9.99% from ¥1,940,264,441.35 at the end of the previous year[21]. - The company's total equity at the end of the current period is CNY 830,305,597.35, reflecting a decrease of CNY 584,281,866.15 during the period[178]. - The total liabilities decreased from CNY 1,099,874,635.34 to CNY 916,119,611.32, a decline of approximately 16.6%[151]. - The company's cash and cash equivalents at the end of the reporting period were approximately ¥157.69 million, accounting for 9.03% of total assets[52]. Operational Efficiency - The company has strengthened its internal management and control systems, optimizing processes to improve work efficiency and enhance employee safety awareness[40]. - The company has implemented strict internal control and authorization systems to optimize internal processes and improve management efficiency[68]. - The company emphasizes research and development, with a well-established technical research and development system and innovation mechanism[35]. Miscellaneous - The company has not distributed cash dividends or bonus shares for the half-year period, nor has it increased capital through public reserves[77]. - The company has not reported any significant related party transactions during the reporting period[85]. - The company has no equity incentive plans, employee stock ownership plans, or other employee incentive measures in the reporting period[94].

Financial Performance - Total revenue for Q1 2020 was ¥163,248,705.29, a decrease of 28.51% compared to ¥228,341,309.77 in the same period last year[7] - Net profit attributable to shareholders was -¥5,014,145.68, representing a decline of 154.80% from ¥9,149,227.60 year-on-year[7] - The net profit after deducting non-recurring gains and losses was -¥8,450,446.74, a decrease of 215.94% compared to ¥7,288,905.45 in the previous year[7] - The total profit for Q1 2020 was RMB -1.38 million, down 110.33% year-on-year, while the net profit was RMB -5.29 million, a decline of 156.85%[19] - Net profit for Q1 2020 was a loss of ¥5,288,528.29, compared to a profit of ¥9,302,853.61 in Q1 2019, representing a significant decline[63] - The company reported a credit impairment loss of ¥6,814,109.29, significantly higher than ¥717,011.32 in the previous year[63] - The total comprehensive income for the first quarter was CNY 4,022,779.80, a decrease of CNY 6,904,401.20 compared to the previous period[68] Cash Flow - The net cash flow from operating activities was ¥332,130.82, a significant improvement from -¥60,349,062.73 in the same period last year[7] - Cash received from operating activities increased by 89.07% to RMB 71.03 million compared to RMB 37.57 million in the same period last year[18] - Cash inflow from operating activities was CNY 247,652,511.06, an increase from CNY 233,996,803.33 in the previous period[71] - Cash inflow from investment activities was CNY 90,077,237.80, significantly higher than CNY 13,060.00 in the previous period[72] - Net cash flow from investment activities was CNY 83,526,841.53, compared to a loss of CNY 33,365,432.07 last year[72] - Cash inflow from financing activities was CNY 85,140,000.00, down from CNY 171,766,912.00 in the previous period[72] - The ending balance of cash and cash equivalents was CNY 155,178,303.85, compared to CNY 35,089,833.61 at the end of the previous period[72] Assets and Liabilities - Total assets at the end of the reporting period were ¥1,844,424,681.68, down 4.94% from ¥1,940,264,441.35 at the end of the previous year[7] - The company's accounts receivable decreased by 58.17% to RMB 710,579.59 from RMB 1,698,683.88 at the end of 2019[16] - Total current assets decreased to CNY 959,330,017.68 from CNY 1,045,081,178.53 as of December 31, 2019, representing a decline of approximately 8.23%[53] - The company's total liabilities decreased to ¥588,836,749.47 from ¥642,185,357.10 year-on-year, a reduction of approximately 8.3%[60] - Total liabilities decreased to CNY 1,009,154,976.98 from CNY 1,099,874,635.34, representing a decline of approximately 8.23%[55] - The total equity attributable to shareholders decreased to CNY 803,052,594.15 from CNY 807,978,079.40, reflecting a decline of approximately 0.73%[56] Shareholder Information - The number of ordinary shareholders at the end of the reporting period was 21,824[10] - The largest shareholder, Suzhou Jinrong Investment Co., Ltd., held 10.38% of the shares, amounting to 46,357,500 shares[10] - The controlling shareholder plans to reduce their stake by up to 13,400,613 shares, representing 3% of the company's total share capital[31] - The company has disclosed the progress of its controlling shareholder's share reduction plan through official announcements[32] Risk Management - The company faces internal management risks due to rapid growth and increased complexity in operations, which it plans to mitigate through improved internal controls[24] - The company faces potential financial risks from 10 pending lawsuits related to a warehouse fire incident that occurred on December 22, 2015[28] - The company is exposed to foreign exchange risks due to its import warehousing business involving foreign currency settlements[30] - The company has implemented measures to monitor accounts receivable and strengthen collection management to mitigate bad debt risks[29] - The company is actively responding to the lawsuits with legal measures to minimize negative impacts on its financial status[28] - The company has committed to matching foreign currency income with expenses to reduce foreign exchange risks[30] Corporate Governance - Jiangsu Xinning Modern Logistics Co., Ltd. reported a commitment to maintain its independence in operations, assets, and management, ensuring no illegal occupation of funds or assets[36] - The company has pledged to avoid and minimize related party transactions, adhering to market fairness and legal procedures[37] - The company guarantees that its senior management appointments will comply with legal regulations and internal procedures, ensuring independence from controlling shareholders[41] - Jiangsu Xinning Logistics will ensure the independence of its financial and operational management, with clear asset ownership delineation from controlling entities[41] - The company emphasizes the importance of adhering to corporate governance standards and legal frameworks in all operations[38] - The company has committed to fulfilling disclosure obligations regarding related party transactions in accordance with relevant laws and regulations[40]

Financial Performance - The company reported a significant increase in revenue, achieving a total of 1.2 billion RMB in 2019, representing a growth of 15% compared to the previous year[12]. - The company's operating revenue for 2019 was ¥898,624,297.50, a decrease of 14.00% compared to ¥1,044,880,717.83 in 2018[17]. - The net profit attributable to shareholders was -¥582,072,056.32, representing a decline of 1001.27% from ¥64,583,671.00 in the previous year[17]. - The net cash flow from operating activities was ¥4,061,674.39, down 94.73% from ¥77,039,878.05 in 2018[17]. - The total assets at the end of 2019 were ¥1,940,264,441.35, a decrease of 27.00% from ¥2,657,865,693.00 at the end of 2018[17]. - The company's net assets attributable to shareholders decreased by 43.10% to ¥807,978,079.40 from ¥1,420,107,393.98 in 2018[17]. - In 2019, the company reported a basic earnings per share of -¥1.30, compared to ¥0.14 in 2018, marking a decline of 1,028.57%[17]. - The company's total revenue for the reporting period was 818,352,277.72 CNY, representing a year-on-year decrease of 6.09%[47]. - The gross profit margin for the service sector was 32.27%, down 11.94% compared to the previous year[47]. - The company reported a significant decline in revenue from the commercial sector, which was 80,272,019.78 CNY, down 53.73% year-on-year[47]. User Growth and Market Expansion - The number of active users increased by 20% year-on-year, reaching 500,000 users by the end of 2019[12]. - User data indicated that the active customer base grew by 25%, reaching 500,000 users by the end of 2019[82]. - The company plans to expand its market presence by opening three new logistics centers in major cities, with an estimated investment of 1,500 million CNY[80]. - The company plans to expand its market presence by entering two new provinces, aiming for a 25% increase in market share within the next year[198]. Strategic Initiatives and Acquisitions - A strategic acquisition of 100% equity in Yicheng Information was completed, which is anticipated to contribute an additional 200 million RMB in revenue annually[5]. - A strategic acquisition of a regional logistics firm is in progress, which is anticipated to add 500 million yuan in annual revenue[199]. - The company has established an industrial merger fund to accelerate expansion, with an initial capital of 300 million RMB allocated for new investments[4]. - The company is actively expanding its business channels and has set up an industrial merger fund to accelerate its growth and improve its industry layout[98]. Research and Development - New product development efforts have led to the launch of two innovative logistics solutions, which are expected to enhance operational efficiency by 25%[12]. - The company has been focusing on logistics and supply chain management services, enhancing its technological capabilities through acquisitions and service innovations[27]. - The company increased its R&D expenditure to 61,072,644.04 CNY, accounting for 6.80% of total revenue, an increase from 5.83% in the previous year[61]. - Research and development expenses increased to 300 million CNY, representing 7.5% of total revenue, aimed at enhancing service efficiency and technology integration[81]. Financial Risks and Challenges - The company faces potential risks related to accounts receivable, which increased by 30% due to the acquisition and business expansion[5]. - The company is exposed to foreign exchange risks due to its involvement in import goods bonded warehousing, which may impact financial performance[6]. - The company acknowledges the risk of goodwill impairment following the acquisition of 100% equity in Yicheng Information, which may affect future performance if profit targets are not met[101]. - The company is monitoring accounts receivable closely due to significant increases following the acquisition, which may lead to bad debt risks if clients fail to repay[102]. Cash Flow and Investment Activities - Total cash inflow from operating activities in 2019 was $1,033,858,430.25, a decrease of 2.16% compared to 2018[62]. - Total cash outflow from operating activities increased by 5.12% to $1,029,796,755.86 in 2019, primarily due to increased tax payments[63]. - Cash inflow from investment activities surged by 457.31% to $149,659,997.95, mainly due to the sale of a subsidiary[63]. - Cash outflow from investment activities decreased significantly by 78.98% to $82,647,020.88, as there were no major acquisitions in 2019[63]. Corporate Governance and Compliance - The company has established a strict internal control and authorization system to mitigate management risks associated with rapid expansion[97]. - The company has committed to maintaining its independence in operations and financials, avoiding conflicts of interest with major shareholders[122]. - The company guarantees that its operational systems, including procurement and sales, are independent of related enterprises[124]. - The company has committed to fulfilling its obligations under the Company Law and relevant regulations regarding shareholder rights[124]. Future Outlook and Guidance - The company has set a performance guidance for 2020, aiming for a revenue growth of 10% to 15%[12]. - The company has set a future outlook with a revenue target of 1.8 billion yuan for the next fiscal year, indicating a projected growth of 20%[199]. - The company plans to enhance its compensation structure and performance evaluation system to align employee goals with corporate strategic objectives[95]. - Future guidance includes maintaining a gross margin of 25%, with efforts to optimize supply chain management[197].

Financial Performance - Operating revenue for the reporting period was ¥216,242,690.22, a decrease of 14.85% year-on-year[8] - Net profit attributable to shareholders was -¥8,807,437.82, a decline of 216.38% compared to the same period last year[8] - The net profit attributable to shareholders after deducting non-recurring gains and losses was -¥23,498,221.16, a decrease of 584.71% year-on-year[8] - Basic earnings per share were -¥0.020, down 180.00% from the previous year[8] - The weighted average return on net assets was -0.61%, a decrease of 1.15% compared to the previous year[8] - The company reported a net profit of 2,370 million yuan for 2019, with a commitment to maintain a minimum net profit of 1,650 million yuan for 2020[34] - The total comprehensive income for Q3 2019 was -¥7,547,752.96, a stark contrast to ¥8,608,247.39 in Q3 2018[53] - The net profit for the period was ¥22,938,781.86, down 40% from ¥38,432,116.13 in the same period last year[59] - Basic and diluted earnings per share were both -0.020, compared to 0.025 in the same quarter last year, indicating a negative shift[53] Assets and Liabilities - Total assets at the end of the reporting period reached ¥2,744,980,937.85, an increase of 3.28% compared to the end of the previous year[8] - Total current assets increased to ¥1,014,365,548.36 as of September 30, 2019, up from ¥958,899,976.06 at the end of 2018, representing a growth of approximately 5.4%[42] - Total liabilities increased to ¥1,282,497,110.94 from ¥1,212,078,914.80, reflecting a growth of about 5.8%[43] - The company's total equity increased to ¥1,462,483,826.91 from ¥1,445,786,778.20, a rise of about 1.1%[44] - The company's total liabilities increased to ¥725,403,410.07 from ¥605,131,703.00, representing a rise of 19.9%[49] Cash Flow - Cash flow from operating activities for the year-to-date was ¥16,006,589.76, an increase of 133.82%[8] - Cash received from operating activities increased by 240.27% year-on-year, primarily due to an increase in receivables[22] - Net cash flow from operating activities was CNY 16,006,589.76, a significant improvement from a negative CNY 47,326,757.32 in the previous period[68] - Cash inflow from operating activities totaled CNY 890,985,985.35, compared to CNY 725,367,252.75 in the previous period, reflecting a growth of approximately 22.8%[66] - Cash outflow from operating activities was CNY 874,979,395.59, up from CNY 772,694,010.07 in the previous period[66] Shareholder Information - The total number of ordinary shareholders at the end of the reporting period was 12,445[12] - The largest shareholder, Suzhou Jinrong Investment Co., Ltd., held 10.38% of the shares, amounting to 46,357,500 shares[12] - The company has not made any adjustments to its cash dividend policy during the reporting period, ensuring compliance with relevant laws and regulations[35] - The company has ensured that its cash distribution practices align with its established policies, providing adequate opportunities for minority shareholders to express their opinions[35] Expenses and Investments - Development expenses increased by 77.13% compared to the beginning of the year, reflecting increased investment in research and development[18] - Management expenses increased by 34.71% year-on-year, attributed to increased management costs due to company growth[19] - Research and development expenses were ¥7,895,602.68, down 32.4% from ¥11,689,503.96 in the previous year[51] - Financial expenses increased to ¥38,175,267.00, up from ¥28,957,883.43, primarily due to higher interest expenses[57] - The company reported an investment income of ¥5,819,706.90, an increase from ¥5,107,698.44, reflecting a growth of 13.9%[52] Compliance and Governance - The company has committed to not engaging in any competitive activities with its subsidiaries and has maintained compliance with this commitment since July 2015[28] - The company reported that there have been no violations of commitments regarding related party transactions, ensuring fair and transparent dealings[30] - The company has pledged to maintain its independence in operations, assets, and personnel following the completion of recent transactions, with ongoing compliance since September 2015[31] - The company has established an independent financial department and accounting system to ensure financial decision-making autonomy[32] - The company has committed to maintaining an independent operational system, including production, procurement, and sales[32]

Financial Performance - Total operating revenue for the first half of 2019 was RMB 474,453,238.85, an increase of 2.30% compared to RMB 463,800,119.61 in the same period last year[20]. - Net profit attributable to shareholders of the listed company was RMB 29,496,972.54, a decrease of 1.73% from RMB 30,016,912.04 in the previous year[20]. - Net profit after deducting non-recurring gains and losses was RMB 24,817,492.08, down 8.80% from RMB 27,213,524.02 year-on-year[20]. - Operating profit reached RMB 37.79 million, up 8.90% compared to the previous year[39]. - The company reported a total non-operating income of 4.68 million yuan after accounting for various expenses and taxes[24]. - The company achieved operating revenue of RMB 474.45 million, a year-on-year increase of 2.3%[39]. - The total comprehensive income for the first half of 2019 was CNY 30,796,212.71, compared to CNY 29,810,427.94 in the same period of 2018, showing an increase of 3.3%[166]. - The net profit for the first half of 2019 was CNY 7,494,693.13, a decrease of 58.4% compared to CNY 18,001,254.03 in the same period of 2018[169]. Cash Flow and Financial Position - The net cash flow from operating activities was negative at RMB -66,482,371.63, worsening by 14.51% compared to RMB -58,057,011.58 in the same period last year[20]. - Cash and cash equivalents decreased by 2.55% to RMB 82,660,993.91, driven by increased working capital needs[51]. - The cash flow from operating activities showed a net outflow of CNY 66,482,371.63, worsening from a net outflow of CNY 58,057,011.58 in the previous year[173]. - Cash and cash equivalents at the end of the period were CNY 67,143,992.41, down from CNY 147,059,093.67 at the end of the first half of 2018[174]. - The cash outflow for operating activities was CNY 570,308,280.37, an increase from CNY 506,733,859.73 in the same period last year[173]. - The total cash and cash equivalents at the end of the period amounted to 5,772,061.53 CNY, down from 6,076,671.21 CNY at the beginning of the period[177]. Assets and Liabilities - Total assets at the end of the reporting period were RMB 2,737,377,805.50, an increase of 2.99% from RMB 2,657,865,693.00 at the end of the previous year[20]. - Total liabilities increased to CNY 1,267,346,225.62 from CNY 1,212,078,914.80, reflecting a growth of 4.6%[156]. - Short-term borrowings increased by 2.90% to RMB 479,146,912.00, reflecting the need for additional working capital[51]. - Total assets reached CNY 2,737,377,805.50, up from CNY 2,657,865,693.00, indicating a growth of 3.0%[156]. - The company's equity attributable to shareholders increased to CNY 1,443,097,397.94 from CNY 1,420,107,393.98, reflecting a growth of 1.6%[156]. Investments and Acquisitions - The company completed the acquisition of Yicheng Information in 2015, enhancing its logistics service capabilities and expanding into satellite navigation services[27][35]. - The company is actively exploring opportunities for external expansion through investments, joint ventures, and acquisitions[35]. - The company made a significant equity investment of RMB 8,000,000.00 in Jiangsu Ninghua Supply Chain Management Co., Ltd., holding a 40% stake[56]. - The company invested CNY 10,000 million to jointly establish an industrial merger fund with Shanghai Handuo Equity Investment Management Co., Ltd.[119]. Research and Development - Research and development investment increased by 5.30% to RMB 32.73 million, reflecting the company's commitment to enhancing R&D capabilities[43]. - The company has been recognized as a "High-tech Enterprise" and "Technology Advanced Service Enterprise," reflecting its commitment to R&D and innovation[36]. - Research and development expenses for the first half of 2019 were CNY 12,714,347.77, nearly unchanged from CNY 12,705,231.18 in the same period of 2018[164]. Shareholder and Equity Information - The company plans not to distribute cash dividends or issue bonus shares for this period[8]. - The company will not distribute cash dividends or issue bonus shares for the half-year period, focusing on reinvestment instead[87]. - The total number of common shareholders at the end of the reporting period is 11,336[136]. - The largest shareholder, Zeng Zhuo, holds 11.04% of shares, totaling 32,871,034 shares, with 24,653 shares pledged[136]. Legal and Compliance Issues - The company has faced 10 pending lawsuits related to a fire incident at its subsidiary, which may impact its financial status and cash flow[81]. - The company is involved in a significant lawsuit with a claim amount of CNY 212.88 million, which has not yet been adjudicated[98]. - The company has confirmed that there are no violations of commitments made to minority shareholders[95]. - The company has not reported any significant media scrutiny during the reporting period[101]. Operational Risks - The company faces risks related to internal management due to the rapid increase in subsidiaries, which may lead to decision-making errors and potential financial risks[78]. - The company has a significant amount of accounts receivable due to its expansion and acquisition of Yicheng Information, which may lead to bad debt risks if clients fail to repay[82]. - The company is exposed to foreign exchange risks due to its import warehousing business, which involves foreign currency settlements[83].

Financial Performance - Total operating revenue for Q1 2019 was ¥228,341,309.77, representing a 9.60% increase compared to ¥208,332,219.28 in the same period last year[7] - Net profit attributable to shareholders for Q1 2019 was ¥9,149,227.60, a 33.38% increase from ¥6,859,402.11 year-on-year[7] - Net profit attributable to shareholders after deducting non-recurring gains and losses was ¥7,288,905.45, up 18.30% from ¥6,161,309.31 in the previous year[7] - Basic earnings per share for Q1 2019 increased by 50.00% to ¥0.03 from ¥0.020 in the same period last year[7] - The total profit for Q1 2019 was RMB 13.33 million, up 55.48% year-on-year[21] - The net profit attributable to shareholders for Q1 2019 was RMB 9.30 million, an increase of 43.86% compared to the previous year[21] - Net profit for Q1 2019 reached CNY 9,302,853.61, representing a 43.5% increase from CNY 6,466,527.51 in Q1 2018[65] - The total comprehensive income for Q1 2019 was CNY 9,273,745.00, an increase from CNY 6,453,515.62 in Q1 2018[66] Cash Flow and Liquidity - The net cash flow from operating activities was -¥60,349,062.73, worsening by 207.58% compared to -¥19,620,379.85 in the previous year[7] - Cash and cash equivalents decreased by 72.62% to RMB 40.57 million due to increased working capital needs[16] - Cash flow from operating activities showed a net outflow of -60,349,062.73 CNY, worsening from -19,620,379.85 CNY in the previous year[73] - Cash and cash equivalents at the end of the period decreased to 35,089,833.61 CNY from 208,299,010.19 CNY at the end of the previous year[74] - The company incurred a cash outflow of 33,378,492.07 CNY for investment activities, compared to 327,966,599.82 CNY in the previous year[74] - Cash inflow from financing activities was 171,766,912.00 CNY, down from 446,278,169.05 CNY in the same period last year[74] - The total cash and cash equivalents at the end of the period was 2,063,453.26, down from 105,968,868.76 year-over-year[78] Assets and Liabilities - Total assets at the end of the reporting period were ¥2,592,931,979.34, a decrease of 2.44% from ¥2,657,865,693.00 at the end of the previous year[7] - The company's total liabilities amounted to CNY 617,280,135.22, compared to CNY 605,131,703.00 in the previous year, indicating a slight increase of 1.9%[62] - Total current assets decreased to CNY 853,257,228.09 from CNY 958,899,976.06, a decline of approximately 11%[55] - Total liabilities decreased to CNY 1,136,019,792.21 from CNY 1,212,078,914.80, a reduction of approximately 6%[56] Shareholder Information - The total number of ordinary shareholders at the end of the reporting period was 11,547[10] - The top ten shareholders held a combined 56.87% of the company's shares, with the largest shareholder owning 11.04%[10] Research and Development - The company increased its R&D expenditure by 42.31% to RMB 38.25 million in Q1 2019[16] - Research and development expenses for Q1 2019 were CNY 5,868,528.80, down from CNY 6,352,447.96, showing a decrease of 7.6%[63] Strategic Initiatives - The company plans to enhance its logistics services and expand into other industries beyond IT[22] - The company aims to accelerate the construction of intelligent logistics and warehouse upgrades using AI technologies[22] - The company intends to explore development opportunities through investments, joint ventures, and acquisitions to enhance its scale and competitiveness[23] Risk Management - The company faces significant internal management risks due to rapid expansion and increased complexity in operations, which may lead to decision-making errors and potential risks[26] - The company is monitoring industry trends and strengthening its operational capabilities and talent acquisition to address external investment and new business expansion risks[28] - The company is enhancing its internal control and authorization systems to mitigate management risks and improve operational efficiency[26] Governance and Compliance - The company has committed to not engaging in any competitive activities that may harm its interests or those of its shareholders[35] - The company guarantees that its senior management will not hold dual positions in the controlling shareholder or its controlled enterprises, ensuring independent management[39] - The company has established a governance structure and internal management institutions in accordance with relevant laws and regulations, ensuring independent operation[39] Fundraising and Investments - The total amount of raised funds is CNY 42,992.73 million, with no funds used for other purposes during the reporting period[43] - The total amount of raised funds from the initial public offering (IPO) was CNY 7,015.11 million, which has been allocated for planned uses[46] - The investment progress for the Kunshan New Ning Logistics Co., Ltd. bonded warehouse expansion project is 93.08%, with CNY 5,119.38 million invested out of CNY 5,500 million[43]

Financial Performance - The company reported a significant increase in revenue, with a total of 297,791,410 RMB for the year 2018, reflecting a growth compared to the previous year[7]. - The company achieved operating revenue of CNY 1,044,880,717.83 in 2018, representing a year-on-year increase of 15.80%[17]. - Net profit attributable to shareholders decreased by 55.15% to CNY 64,583,671.00 compared to 2017[17]. - The net profit after deducting non-recurring gains and losses was CNY 57,465,030.09, down 14.64% from the previous year[17]. - Basic and diluted earnings per share fell by 54.17% to CNY 0.220[17]. - Total assets increased by 25.09% to CNY 2,657,865,693.00 at the end of 2018[17]. - The operating profit for the year was 7,753.01 CNY, a decrease of 12.20% compared to the previous year[40]. - The gross profit margin for the service sector was 36.64%, which improved by 11.96% year-on-year[48]. - The gross profit margin for warehousing and value-added services was 40.04%, with a year-on-year increase of 18.77%[48]. Dividends and Share Capital - The company plans to distribute a cash dividend of 0.22 RMB per share (including tax) to all shareholders, based on the aforementioned revenue figure[7]. - The total distributable profit for the year was RMB 64,583,671.00, with the cash dividend representing 10.14% of this amount[119]. - The company plans to increase its total share capital from 297,791,410 shares to 446,687,115 shares by issuing 5 new shares for every 10 shares held[113]. - The cash dividend for 2016 was RMB 0.10 per 10 shares, totaling RMB 2,977,914.10, representing 4.88% of the net profit attributable to shareholders[119]. - The cash dividend distribution for 2018 is subject to approval at the annual general meeting[117]. Acquisitions and Investments - The company completed the acquisition of 100% equity in Zhongshan Jiaxin Chemical Storage Logistics Co., further expanding its market presence in the logistics sector[41]. - The company acquired 100% equity of Jiaxin Warehousing for 300 million CNY, making it a wholly-owned subsidiary[54]. - The company has made a significant equity investment of RMB 25,500,000 in a new technology development company, acquiring a 51% stake[74]. - The company established six new subsidiaries in 2018, including Jiangsu Xinhui Ning Intelligent Technology Co., Ltd. and Guangdong Yisheng Information Technology Co., Ltd.[54]. - The company has committed to invest RMB 10 million in establishing Inner Mongolia Xinning Tianyan Guarantee Management Co., Ltd., holding 36% of the shares[177]. Risks and Legal Matters - There are currently 7 pending lawsuits related to a fire incident at a subsidiary, which may impact the company's financial status and cash flow in the future[5]. - The company faces risks related to accounts receivable due to its expanding business and the acquisition of Yicheng Information, leading to a significant increase in accounts receivable[6]. - The company is exposed to foreign exchange risks due to its involvement in import goods bonded warehousing, which involves foreign currency settlements[6]. - The company has ongoing litigation risks related to a fire incident at a subsidiary's warehouse, which may impact financial performance[99]. - The company’s subsidiary, Yicheng Information, reported a case of fund misappropriation involving RMB 67.993 million, with RMB 29.216 million still outstanding as of December 31, 2018[186]. Strategic Focus and Growth - The company has established an industrial merger fund to accelerate its expansion and improve its industry layout, indicating a strategic focus on growth through acquisitions[4]. - The company is actively exploring new business channels and platforms to diversify its operations and mitigate risks associated with its current business model[4]. - The company continues to focus on logistics and supply chain management services, enhancing its technological capabilities through acquisitions and innovations[27]. - The company is accelerating the construction of intelligent logistics and warehouse upgrades, utilizing AI and related technologies to enhance operational efficiency[93]. - The company intends to explore development opportunities through investments, joint ventures, and acquisitions to enhance its scale and competitiveness[94]. Management and Internal Control - The company has established a relatively complete organizational management system, but acknowledges the challenges posed by rapid expansion and increased complexity in management[4]. - The company emphasizes the importance of internal control and risk management as it continues to grow and expand its operations[4]. - The company has established an integrated management system to standardize operations across subsidiaries, aiming to enhance overall competitiveness[96]. - The company faces internal management risks due to the increasing number of subsidiaries and business scale, necessitating improved organizational coordination and risk control[95]. - The company has committed to strictly adhere to relevant laws and regulations, ensuring shareholder rights are exercised properly[127]. Research and Development - Research and development expenses for 2018 were ¥60,920,447.10, which is 5.83% of the company's operating revenue, reflecting a 23.66% increase compared to the previous year[62]. - The company has been recognized as a "High-tech Enterprise" and "Technology Advanced Service Enterprise," reflecting its strong R&D capabilities[36]. - The number of R&D personnel increased to 636, representing 18.96% of the total workforce[64]. - The company has not recognized any impairment loss for goodwill during the reporting period, with a discount rate of 14.67% applied for future cash flow projections related to Jiaxin Warehousing[182]. Financial Management - The company reported a significant increase in financial expenses, which rose by 167.54% to ¥34,689,199.63, attributed to the increased borrowings for the acquisition of Zhongshan Jiaxin[61]. - The total amount of funds raised in the initial public offering in 2009 was RMB 234 million, with a net amount of RMB 210 million after deducting issuance costs[80]. - The company has maintained compliance with its commitments, with no significant related party transactions reported[136]. - The company has not engaged in any entrusted financial management or loans during the reporting period[167][168]. - The company has not conducted any significant contracts during the reporting period[169].

Financial Performance - Operating revenue for the reporting period was CNY 253,966,989.10, a decrease of 5.28% year-on-year[7] - Net profit attributable to shareholders decreased by 79.17% to CNY 7,567,549.79 compared to the same period last year[7] - The net profit attributable to shareholders after deducting non-recurring gains and losses fell by 86.12% to CNY 4,847,861.45[7] - Basic earnings per share decreased by 79.51% to CNY 0.025[7] - The weighted average return on net assets was 0.54%, down by 2.17% compared to the same period last year[7] - The company reported a net loss of CNY 1,500,000.00 for the quarter, compared to a profit in the same period last year[56] - The net profit for the third quarter was CNY 8,618,362.09, a significant decrease from CNY 36,972,340.39 in the same period last year, representing a decline of about 76.7%[58] - The total profit for the third quarter was CNY 8,450,777.72, down from CNY 40,137,521.47, reflecting a decrease of approximately 78.9%[58] - The total comprehensive income for the third quarter was CNY 8,608,247.39, compared to CNY 36,960,494.75 in the same period last year, indicating a decrease of about 76.7%[58] - The company's total operating costs for the year-to-date period were CNY 699,846,709.53, compared to CNY 597,959,359.67 in the previous year, reflecting an increase of about 17.0%[62] Assets and Liabilities - Total assets increased by 30.85% to CNY 2,780,400,417.83 compared to the end of the previous year[7] - Cash and cash equivalents decreased by 34.05% compared to the beginning of the year, primarily due to increased working capital expenditures from business expansion[19] - Fixed assets increased by 178.24% compared to the beginning of the year, mainly due to the acquisition of Jiaxin Warehousing[19] - Intangible assets rose by 161.25% compared to the beginning of the year, also due to the acquisition of Jiaxin Warehousing[19] - Long-term borrowings surged by 1,028.21% compared to the beginning of the year, driven by business expansion and the acquisition of Jiaxin Warehousing[19] - The total liabilities amounted to CNY 1,361,607,305.20, compared to CNY 727,012,433.60, representing an increase of 87.3%[50] - The total non-current assets amounted to CNY 1,677,989,443.47, an increase from CNY 1,068,937,731.18, reflecting a growth of 56.8%[50] Cash Flow - Cash flow from operating activities for the year-to-date was CNY -47,326,757.32, an increase of 6.79%[7] - The company's cash and cash equivalents decreased from ¥193.62 million to ¥127.69 million, a decline of approximately 34%[48] - The net cash flow from operating activities was 34,666,762.41 CNY, a significant improvement compared to -83,522,999.71 CNY in the previous period[75] - Total cash inflow from financing activities amounted to 461,110,120.00 CNY, up from 154,000,000.00 CNY in the previous period[76] - The net cash flow from investing activities was -291,825,723.05 CNY, a decline from 42,378,015.58 CNY in the previous period[75] - The company reported a total cash outflow from operating activities of 117,745,174.82 CNY, compared to 132,774,414.29 CNY in the previous period[75] Shareholder Information - The company reported a total of 18,140 common shareholders at the end of the reporting period[11] - The top shareholder, Zeng Zhuo, holds 11.04% of the shares, amounting to 32,871,034 shares[11] - The company did not conduct any repurchase transactions among the top shareholders during the reporting period[13] - The company has committed to not transferring newly acquired shares for a period of 36 months following the issuance of shares[31] - The company has maintained compliance with its commitments regarding share transfers and has reported strict adherence to these commitments[31] Legal and Compliance Issues - The company has been involved in multiple legal proceedings related to the fire incident at its subsidiary's warehouse, with ongoing updates published regularly[26] - The company has faced a civil judgment requiring it to return RMB 1,046,500.00 to a technology firm due to a related case involving the misappropriation[27] - The company has recognized a bad debt provision of RMB 2,465,972.00 related to the misappropriated funds[29] - The company has been actively disclosing updates regarding the fire incident and its legal implications through various announcements since December 2015[25] - The company has committed to avoiding illegal occupation of funds and assets, reinforcing its focus on ethical governance[34] Research and Development - Research and development expenses increased by 270.16% year-on-year, reflecting a significant increase in R&D investment[20] - Research and development expenses for the third quarter were CNY 256,646.12, slightly down from CNY 267,407.74 in the previous period, a decrease of about 4.0%[60] Future Commitments and Plans - The company plans to issue convertible bonds, which was approved by the board and shareholders, with the application accepted by the China Securities Regulatory Commission on October 10, 2018[29] - The company plans to focus on expanding its market presence and enhancing operational efficiency in the upcoming quarters[68]

Financial Performance - Total operating revenue for the first half of 2018 was CNY 463,800,119.61, representing a 15.78% increase compared to CNY 400,595,193.86 in the same period last year[20]. - Net profit attributable to shareholders decreased by 13.77% to CNY 30,016,912.04 from CNY 34,809,461.52 year-on-year[20]. - Net profit after deducting non-recurring gains and losses fell by 25.23% to CNY 27,213,524.02 compared to CNY 36,398,570.52 in the previous year[20]. - Basic earnings per share decreased by 13.68% to CNY 0.101 from CNY 0.117 year-on-year[20]. - Operating profit decreased to CNY 34.71 million, down 19.27% year-on-year, primarily due to increased financial and management expenses[45]. - Net profit attributable to shareholders was CNY 30.02 million, a decline of 13.77% compared to the previous year, influenced by rising financial costs[45]. - The company reported a total revenue of approximately ¥811.23 million, with a net profit of ¥19.11 million for Guangzhou Yicheng Transportation Information Co., Ltd.[78]. - Net profit for the first half of 2018 was CNY 29.81 million, a decrease of 14.36% from CNY 34.99 million in the previous year[169]. Cash Flow and Financial Position - The net cash flow from operating activities was negative at CNY -58,057,011.58, a decline of 371.27% from CNY 21,402,081.76 in the same period last year[20]. - Cash flow from operating activities showed a significant decline of 371.27%, resulting in a net outflow of CNY 58.06 million due to increased payments[45]. - The company reported a net cash flow from operating activities of -¥58,057,011.58, compared to a positive cash flow of ¥21,402,081.76 in the previous period[175]. - The total liabilities rose to CNY 1,317,459,591.33 from CNY 727,012,433.60, marking an increase of approximately 81.2%[162]. - The company's cash and cash equivalents decreased to CNY 163,553,792.57 from CNY 193,616,718.33, a decline of approximately 15.5%[159]. - The total amount of raised funds from the initial public offering was 7,015.11 million yuan, with specific projects allocated for the use of these funds detailed in the report[70]. Investments and Acquisitions - The company completed the acquisition of Yicheng Information in September 2015, enhancing its service capabilities in satellite navigation and positioning[35]. - The company completed the acquisition of 100% equity in Jiaxin Chemical Logistics, enhancing its market presence in the logistics sector[41]. - The company is actively pursuing mergers and acquisitions to enhance its portfolio and market presence[129]. - The company has made significant equity investments, including a 54% stake in Hong Kong New Ning Modern Logistics Co., with an investment of ¥2,611,200.00[57]. - The company has also established new subsidiaries focused on technology development and logistics services, with investments totaling ¥9,800,000.00 in a new technology company[58]. Operational Efficiency and Risks - The company faces risks related to accounts receivable due to the significant increase in receivables following the acquisition of Yicheng Information[6]. - The company is monitoring accounts receivable closely due to significant increases resulting from the acquisition of Yicheng Information, which may lead to bad debt risks[84]. - The company is exposed to foreign exchange risks due to its import warehousing business, which involves foreign currency settlements[85]. - The company is facing internal management risks due to the rapid expansion of its subsidiaries, which may lead to decision-making errors and potential risks[79]. - The company has established a strict internal control and authorization system to enhance management efficiency and reduce risks[80]. Shareholder and Governance Commitments - The company has committed to not transferring newly acquired shares for 12 months post-listing, and can transfer up to 33% of shares after 24 months[91]. - The company has a profit compensation agreement in place, ensuring that if the net profit does not meet the committed figures, the responsible parties will compensate the company[91]. - The company has maintained compliance with all commitments made regarding share transfers and profit guarantees, with no violations reported[91]. - The company has established a commitment to maintain independence in operations, finances, and management from its major shareholders[93]. - The company guarantees that its assets are clearly defined and will not be interfered with by the promoter or other controlled enterprises[95]. Future Plans and Development - The company plans not to distribute cash dividends or issue bonus shares[8]. - The company plans to publicly issue convertible bonds to meet funding needs for business development and enhance its core competitiveness[41]. - The company is actively expanding its business channels and has established an industrial merger and acquisition fund to accelerate development and improve industry layout[6]. Legal and Compliance Matters - The company is involved in ongoing litigation related to a fire incident at its wholly-owned subsidiary, with 8 pending lawsuits as of the report date[54]. - The company reported a total of 2,003.2 million yuan in property damage compensation disputes, with a provision for lease property repair costs of 1.12 million yuan[102]. - The company is involved in multiple ongoing litigation cases related to warehouse contract disputes, with amounts claimed including 890.24 million yuan and 261.49 million yuan[102]. - There were no major litigation or arbitration matters during the reporting period[101].