WANLIN LOGISTICS(SH:603117) Hua Xia Shi Bao·2025-09-29 02:38Core Viewpoint - Despite the removal of the "special treatment" label last year, Wanlin Logistics (603117.SH) continues to face significant challenges in obtaining bank credit, which has impacted its strategic operations and trade agency business [2][4]. Group 1: Bank Credit Issues - Wanlin Logistics has experienced a suspension of bank credit for over three years, severely limiting its trade agency operations [3][4]. - The company reported that its credit limit from local banks exceeded 1 billion yuan in 2021, but this credit has been largely halted since then, with only a 10 million yuan credit line currently available [4][5]. - The local government has acknowledged the credit issues and is working to facilitate communication between banks and the company [5][6]. Group 2: Business Operations and Strategy - The company aims to optimize its port loading and unloading operations and enhance overall operational efficiency while gradually restoring and expanding its trade agency business [6]. - Wanlin Logistics has seen a significant decline in trade agency revenue, dropping from approximately 6.89 million yuan in 2021 to 242,200 yuan in 2024 [4]. - The company is exploring alternative financing channels and has made some progress in obtaining credit from banks outside of Jiangsu province [5][6].