智通财经网·2025-08-26 12:09Core Viewpoint - China National Freight Forwarding (00598) reported a decline in revenue for the first half of 2025, with a focus on international expansion and logistics capabilities despite challenges in domestic demand and pricing pressures [1][2] Group 1: Financial Performance - The company's operating revenue for the first half of 2025 was approximately 50.5225 billion yuan, a year-on-year decrease of 10.42% [1] - Net profit attributable to shareholders was about 1.947 billion yuan, a slight increase of 0.08% year-on-year, with basic earnings per share at 0.2707 yuan and a cash dividend of 0.145 yuan per share (tax included) [1] - The net profit excluding non-recurring gains and losses was 1.398 billion yuan, down 22.30% year-on-year, primarily due to a decrease in investment income from joint ventures [1] Group 2: Business Segments - The professional logistics business reported external operating revenue of 14.323 billion yuan, a decline of 5.86% year-on-year, with segment profit down 22.35% due to insufficient domestic demand and low logistics prices [2] - The agency and related business had external operating revenue of 29.628 billion yuan, a decrease of 15.49% year-on-year, with segment profit slightly down by 1.23% [2] - The e-commerce business achieved external operating revenue of 6.571 billion yuan, an increase of 7.28% year-on-year, but segment profit fell by 36.71% due to market conditions affecting air freight rates and cross-border logistics volumes [2] Group 3: Strategic Initiatives - The company is actively implementing its internationalization strategy, enhancing overseas capabilities, with overseas business profits increasing by 18.1% year-on-year [1] - Initiatives include developing the "Bay Area Cross-Border Green Transport" product in Hong Kong and establishing a logistics hub in Belgium [1] - The company is also strengthening its logistics network in the Middle East, Latin America, and Africa, particularly through partnerships in Djibouti [1]