Financial Performance - Revenue for the six months ended June 30, 2025, reached RMB 905.0 million, an increase of 20.0% compared to RMB 754.2 million in the same period of 2024[14]. - Profit for the same period surged to RMB 127.8 million, reflecting an increase of 898.4% from RMB 12.8 million in 2024[15]. - Earnings per share attributable to ordinary equity holders increased to RMB 0.19, up 850.0% from RMB 0.02 in 2024[18]. - Revenue from cross-border logistics services rose by 25.0% from RMB 689.0 million to RMB 861.2 million, driven by an increase in service volume from 140,355 TEUs to 197,195 TEUs[29]. - Gross profit increased by approximately 21.0% from RMB 68.1 million to RMB 82.4 million, with a stable gross margin of 9.0% and 9.1% for the respective periods[31][32]. - Other income surged by approximately 1,722.0% from RMB 5.0 million to RMB 91.1 million, primarily due to asset optimization strategies[33]. - The company's net profit increased by approximately 898.4% from RMB 12.8 million to RMB 127.8 million for the current period[42]. - Total revenue for the six months ended June 30, 2025, was RMB 904,984,000, representing a 19.9% increase from RMB 754,238,000 in the same period of 2024[104]. - Gross profit for the same period was RMB 82,397 thousand, up 20.98% from RMB 68,104 thousand in 2024[87]. - Net profit for the period was RMB 127,813 thousand, a significant increase of 895.73% compared to RMB 12,806 thousand in 2024[89]. Operational Highlights - The container transportation volume for cross-border logistics services rose to 197,195 TEUs, a 40.5% increase from 140,355 TEUs in 2024[19]. - The self-operated cross-border shipping service volume was 50,733 billable tons, with an average price of RMB 836.5 per billable ton[23]. - The company generated RMB 43.8 million in revenue from leasing three vessels, with an average daily charter rate of RMB 101,262.7, an increase from RMB 81,865.7 in 2024[25]. - Revenue from customer contracts was RMB 861,156,000, up 20.7% from RMB 713,895,000 in the prior year[107]. - Cross-border logistics services generated RMB 786,826,000, an increase of 16.5% compared to RMB 675,633,000 in 2024[108]. Strategic Initiatives - The company plans to focus on three major opportunities: developing infrastructure projects along the Belt and Road Initiative, expanding cross-border e-commerce, and accelerating overseas warehouse layout[26]. - The company aims to maintain steady growth in revenue and profitability in the second half of 2025 through strategic initiatives in cross-border e-commerce and engineering logistics[26]. - The company will continue to innovate its business model to strengthen its industry position and provide long-term stable returns to shareholders[26]. Financial Position - As of June 30, 2025, the company's cash and bank balances were RMB 572.0 million, down from RMB 779.6 million as of December 31, 2024[46]. - Total borrowings decreased from RMB 84.7 million as of December 31, 2024, to RMB 68.1 million as of June 30, 2025[47]. - The company's total equity as of June 30, 2025, was RMB 1,557,897 thousand, slightly up from RMB 1,551,635 thousand in 2024[92]. - Current liabilities rose to RMB 393,101 thousand, compared to RMB 293,083 thousand at the end of 2024[90]. - The company’s cash and cash equivalents at the end of June 30, 2025, were RMB 560,424,000, down from RMB 766,105,000 at the beginning of the period[96]. Governance and Compliance - The company has adopted a corporate governance code to enhance shareholder value and accountability[71]. - The company maintains a balanced power structure with an executive board and independent non-executive directors[71]. - The company has confirmed compliance with all applicable provisions of the corporate governance code during the reporting period[72]. - The audit committee, consisting of three independent non-executive directors, reviewed the unaudited interim results for the six months ending June 30, 2025[85]. Shareholder Information - The board does not recommend the payment of an interim dividend for the six months ending June 30, 2025[83]. - The company implemented a share split effective July 28, 2025, changing the par value of shares from USD 0.0001 to USD 0.00005[67]. - As of June 30, 2025, the company has issued 286,269,156 shares, with Xu Xin and Li Yan holding 158,553,294 shares each, representing 55.39% ownership[77]. - Grand Sailing Limited and Lecang Altitude Limited each hold 75,896,322 shares, accounting for 26.51% of the total shares[78]. Cash Flow and Investments - The company's operating cash flow for the six months ended June 30, 2025, was RMB 25,051,000, a recovery from a negative cash flow of RMB 8,093,000 in the prior year[95]. - The company incurred a net cash outflow from investing activities of RMB 214,837,000 for the six months ended June 30, 2025, compared to a positive cash inflow of RMB 5,637,000 in 2024[96]. - The group acquired assets at a cost of RMB 86,980,000 for the six months ended June 30, 2025, up from RMB 26,494,000 in 2024[120]. Employee and Management Costs - The group employed 367 full-time employees as of June 30, 2025, with employee costs recognized as RMB 34.6 million during the period[66]. - The total remuneration for key management personnel increased to RMB 4,043,000 for the six months ended June 30, 2025, compared to RMB 2,935,000 in 2024, reflecting a 37.9% increase[129].
乐舱物流(02490) - 2025 - 中期财报