Core Viewpoint - The company Aoji Co., Ltd. is experiencing a decline in net profit for the first half of 2025, attributed to factors such as tariff wars and rising logistics costs, leading to a profit warning with expected net profits between RMB 100 million and RMB 130 million, a decrease of 50%-62% compared to the previous year [2][3] Group 1: Financial Performance - Aoji's expected net profit for the reporting period is projected to be between RMB 100 million and RMB 130 million, representing a significant decline of 50%-62% year-on-year [2] - In 2024, Aoji's revenue reached RMB 10.71 billion, with the U.S. market contributing RMB 7.55 billion, indicating a rising trend in revenue from this market despite overall profit decline [3] - The logistics solutions business generated RMB 2.44 billion in revenue in 2024, showing a year-on-year growth of 47.7% [3] Group 2: Operational Challenges - The decline in profitability is partly due to increased costs from tariff policy adjustments and rising logistics expenses, which have significantly impacted overall costs [2] - The rapid expansion of the logistics business has not yet translated into improved financial performance, as increased operating costs from newly leased warehouses have led to a decline in net profit [4] - The company's strategic incubation projects are still in the early stages, resulting in high investment costs that dilute overall profits [5] Group 3: Market Position and Stock Performance - Aoji Co., Ltd. was founded in 2010 and has transitioned from selling 3C digital products to high-quality home furnishings and logistics supply chain services, being recognized as one of the early major players in cross-border e-commerce in China [5] - As of August 18, the stock price of Aoji Co., Ltd. closed at HKD 7.88, down 1.25%, reflecting a significant drop from the initial offering price of HKD 15.6 [6]
关税政策调整叠加物流成本上涨，傲基股份净利同比腰斩