中国循环包装服务提供商优乐赛再次递表港交所 已建立覆盖100多个城市的78个仓储网络

Company Overview - Youlesai is a Chinese provider of circular packaging services, primarily focused on serving automotive parts manufacturers and OEMs [3] - The company offers shared operations for managing circular packaging, including storage, distribution, and maintenance [3] - Youlesai is the second-largest provider of circular packaging services in China, with a market share of 1.5%, and the largest provider of automotive shared operations services, holding a market share of 8.2% [3][4] Market Position - By 2024, the circular packaging services, shared operations services, and automotive shared operations services are expected to account for 6.4%, 2.4%, and 1.0% of China's overall logistics packaging solutions market, respectively [3] - As of August 31, 2025, Youlesai has established a warehousing network covering over 100 cities with 78 warehouses [4] Financial Performance - The company recorded revenues of RMB 647.6 million, RMB 794.0 million, RMB 837.6 million, and RMB 533.3 million for the years 2022, 2023, 2024, and the eight months ending August 31, 2025, respectively [6] - The net profit for the same periods was RMB 31.2 million, RMB 64.1 million, RMB 50.7 million, and RMB 26.9 million [7] - The gross profit margins for 2022, 2023, 2024, and the eight months ending August 31, 2025, were 19.7%, 21.4%, 22.0%, and 20.8%, respectively [8] Industry Overview - The global logistics industry is projected to grow significantly, with total logistics spending expected to reach approximately USD 14.7 trillion by 2030 [10] - In 2024, China's logistics spending is estimated to be around USD 2.9 trillion, accounting for 25% of the global logistics market [10] - The logistics packaging solutions market in China is expected to grow from USD 90.4 billion in 2019 to USD 118.7 billion in 2024, with a compound annual growth rate (CAGR) of 5.6% [11]