Core Viewpoint - Dongjie Intelligent (300486.SZ) has signed a framework agreement with PTTSYNERGY GROUP BERHAD (PTTSG) and AUBO (Shandong) Intelligent Robot Co., Ltd. (AUBO) to explore the development of an automated warehousing facility with approximately 2 million pallet positions in Malaysia over the next five years [1] Group 1 - The framework agreement expresses the preliminary intention for cooperation, with low binding force on the parties involved [1] - The agreement indicates that if a formal contract is established, Dongjie Intelligent (Shandong) Co., Ltd. (OMH) will act as the main system integrator, providing complete equipment design, stacker manufacturing, and software and control system installation and debugging [1] - The installation and debugging of handling and stacking robots may be provided by AUBO, which is expected to account for only 8-10% of the contract amount [1] Group 2 - The reference amount for the agreement is 2 billion Malaysian Ringgit (RM2,000,000,000.00), approximately 3.3874 billion Chinese Yuan [1] - The final contract amount will be determined based on specific agreements reached by the parties involved [1]

Core Viewpoint - Dongjie Intelligent (300486.SZ) announced a framework agreement with PTT SYNERGY GROUP BERHAD (PTTSG) to develop approximately 2 million pallet positions for automated warehousing facilities in Malaysia over the next five years [1] Group 1: Agreement Details - Dongjie Intelligent's wholly-owned subsidiary, Dongjie Intelligent (Shandong) Co., Ltd. (OMH), will act as the main system integrator if a formal contract is established [1] - The agreement includes the design of complete equipment, manufacturing of stackers, and installation and debugging of software and control systems [1] - AUBO (Shandong) Intelligent Robot Co., Ltd. will potentially provide installation and debugging services for handling and stacking robots, which are expected to account for only 8-10% of the total contract value [1] Group 2: Partner Information - PTTSG is a Malaysian construction company focused on earthworks and infrastructure engineering, also venturing into automated and intelligent warehousing, as well as industrial and residential development [1] - AUBO is a wholly-owned subsidiary of AUBO (Beijing) Intelligent Technology Co., Ltd., with its actual controller, Chairman Han Yongguang, indirectly holding 7.1681% of AUBO Intelligent [1] Group 3: Strategic Implications - The signing of this agreement is beneficial for the company's overseas market expansion and strategic layout, aiming to secure more customer resources and business orders [1]

Core Insights - Dongjie Intelligent (300486) announced on September 25 that Malaysian construction company PTTSG intends to develop approximately 2 million pallet positions for automated warehousing facilities in Malaysia over the next five years [1] - Dongjie Intelligent (Shandong) Co., Ltd. (referred to as "OMH"), a wholly-owned subsidiary of Dongjie Intelligent, signed a framework agreement with PTTSG and AUBO (Shandong) Intelligent Robot Co., Ltd. (referred to as "AUBO") [1] - If a formal contract is established, OMH will act as the main system integrator, providing complete equipment design, stacker manufacturing, and installation and debugging of software and control systems [1] - The installation and debugging of handling and stacking robots will be considered for provision by AUBO, which is expected to account for only 8%-10% of the total contract value [1] - AUBO is a wholly-owned subsidiary of Aobo (Beijing) Intelligent Technology Co., Ltd. (referred to as "Aobo Intelligent"), with the actual controller and chairman Han Yongguang indirectly holding 7.17% of Aobo Intelligent's shares [1]

Core Viewpoint - JD Logistics has demonstrated strong growth in its integrated supply chain solutions, with significant revenue increases and improved profitability in the first half of 2025, driven by market expansion and efficiency optimization [1][3]. Group 1: Financial Performance - In the first half of 2025, JD Logistics reported a revenue increase of 14.1% year-on-year, reaching 98.5 billion yuan (approximately 13.7 billion USD) [1]. - The integrated supply chain (ISC) solutions business generated 50.1 billion yuan, accounting for over half of total revenue, with a year-on-year growth of 19.9% [1]. - Non-IFRS profit for the first half was 3.3 billion yuan, reflecting a 7.1% increase, primarily due to improved resource utilization efficiency [3]. Group 2: Customer and Market Expansion - The number of external ISC customers grew to 73,713, marking a 14.5% increase, with an average revenue per external customer of approximately 239,000 yuan [1]. - In Q2, JD Logistics achieved a revenue of 51.6 billion yuan, contributing about 15% to JD Group's total revenue, with a year-on-year growth of 16.6% [3]. Group 3: Operational Developments - The company has expanded its self-operated warehouses in various countries, including the US, UK, Saudi Arabia, South Korea, and Vietnam, enhancing its global logistics services [4]. - JD Logistics has launched its self-operated B2C express service, JoyExpress, in Saudi Arabia, offering last-mile delivery with same-day or next-day service [3]. - The deployment of the "Smart Wolf" automated warehousing solution aims to enhance order fulfillment efficiency and reduce manual operations in the supply chain [4].

Efficiency and Convenience - The efficiency of cargo handling has significantly increased, with a single handling capacity reaching hundreds to thousands of kilograms, resulting in over a 20-fold improvement compared to manual handling [1] - The use of automated equipment, such as intelligent sorting lines, allows for "whole pallet shelving and sorting," thereby reducing storage operation time [1][2] Cargo Protection and Stability - Pallet designs are symmetrical, allowing for even weight distribution, with standard pallets capable of static loads of 3-5 tons and dynamic loads of 1-2 tons [4] - The use of stretch film and strapping to secure goods reduces damage rates to below 1%, compared to approximately 5% for traditional bulk transport [4] Circular Economy and Environmental Sustainability - Plastic and metal pallets support long-term reuse, with some companies adopting a "shared pallet pool" model, achieving over 90% utilization rates and reducing idle asset costs [7] - Wood pallets can be made from recycled or FSC-certified materials, while plastic pallets increasingly use recycled plastic, contributing to reduced petroleum consumption [8] Smart and Digital Upgrades - Integration of IoT technology allows pallets to embed RFID tags or NFC chips, enabling real-time tracking of cargo location, weight, and temperature, supporting full supply chain traceability [9] - Companies like JD Logistics utilize "smart pallets" to monitor pallet turnover efficiency, reducing response time for abnormal orders to within 15 minutes [10] Cost Optimization Features - Although high-quality pallets, such as plastic ones, have higher initial procurement costs, their long-term maintenance costs are lower, resulting in overall costs being lower than wooden pallets [12] - In a rental model, companies can pay as needed, avoiding one-time investments and improving capital utilization by over 30% [13] - Standardized pallet applications can lead to a 15%-25% reduction in overall logistics costs by minimizing indirect costs such as labor handling, cargo loss, and packaging materials [14]