SJY.(SH:600676) Zheng Quan Shi Bao Wang·2026-01-13 09:28Core Viewpoint - The company, Jiaoyun Co., Ltd. (交运股份), has announced a projected net loss for the fiscal year 2025, attributing this to significant pressures in its main business segments, particularly in road freight and logistics, as well as in traditional fuel vehicle sales [1][2]. Group 1: Financial Performance - For the first half of 2025, the company reported an operating revenue of 2.186 billion yuan and a net profit attributable to shareholders of -61 million yuan [1]. - The anticipated net profit for the entire year of 2025 is expected to be negative, indicating a loss [1]. Group 2: Business Segments - The road freight and logistics segment continues to face intense competition in the market, leading to a decline in business volume and revenue [1][2]. - The passenger vehicle sales and after-sales service segment is negatively impacted by a significant drop in production and sales of traditional fuel vehicles, resulting in a negative gross margin for this segment [1]. - The automotive parts manufacturing and sales segment has seen a slight recovery in demand and sales revenue, but high fixed costs limit profitability improvements [2]. Group 3: Stock Performance and Risk - The company's stock has experienced a significant increase, with three consecutive trading days of limit-up, closing at 8.22 yuan on January 13, reflecting a 10.04% increase [2]. - A risk warning was issued regarding the potential for a price drop following the recent sharp increase in stock price [3]. Group 4: Asset Restructuring - The company is planning to exchange assets related to its passenger vehicle sales and automotive parts segments with its controlling shareholder, Jiushi Group, for assets in the cultural and tourism sectors [3][4]. - This asset exchange aims to improve asset quality and enhance the company's risk resilience and competitive advantage [4]. - The transaction is still in the planning stage, with specific details yet to be finalized, and it will require further verification and compliance with legal and regulatory procedures [4].