Core Points - Douyin E-commerce announced the discovery of logistics companies abusing platform services by providing false logistics tracking and other violations, which harm consumer rights and disrupt platform operations [1] - Douyin will terminate partnerships with several logistics companies, including Zhongtong Cold Chain, Jishida, Water Fun Home, and Tiezhong Express, effective October 29 [1] - Violations include bypassing Douyin's electronic waybills, creating false tracking, and manipulating order statuses, leading to delayed or undelivered goods for consumers [1] Company Overview - Zhongtong Cold Chain operates under Zhongtong Express Group, leveraging its network and ecological advantages [2] - As of June 30, 2025, Zhongtong Express Group has approximately 6,000 direct network partners and over 30,000 collection and delivery points across the country [2] - In the first half of this year, Zhongtong Express Group's express service accounted for 92.9% of total revenue, with freight forwarding and material sales contributing 1.5% and 5.3%, respectively [4] Financial Performance - Zhongtong Express reported a revenue of 22.723 billion yuan in the first half of the year, a year-on-year increase of 9.85%, while net profit attributable to ordinary shareholders was 3.932 billion yuan, a decrease of 2.6% [4] - As of October 28, Zhongtong Express's stock price was 149.30 HKD per share, with a market capitalization of 12.01 billion HKD [4]
被指提供违规服务，抖音将清退中通冷链、吉时达等物流商