Core Viewpoint - The controlling shareholder and actual controller of Jiangsu Wanlin Modern Logistics Co., Ltd. have decided to terminate their share reduction plan ahead of schedule, resulting in no shares being sold as initially planned [1][5]. Shareholding Structure - The controlling shareholder, Qiongqing City Surui Investment Co., Ltd., holds 18,618,600 shares through block trading and 60,000 shares through centralized bidding, totaling 93,306,657 shares, which is 15.57% of the total share capital [1][4]. - The actual controller and chairman, Fan Jibo, holds 77,606,585 shares, accounting for 12.95% of the total share capital, with 72,710,000 shares acquired through agreement transfer and 4,896,585 shares through centralized bidding [1][4]. - The consistent action partner, Qiongqing City Bolui Investment Partnership, holds 18,417,000 shares (3.07%) through agreement transfer, while another partner, Qiongqing City Bochun Investment Co., Ltd., holds 491,098 shares (0.08%) through centralized bidding [2][4]. Reduction Plan Implementation Results - The reduction plan was announced on August 14, 2025, with a maximum intended reduction of 5,991,977 shares (up to 1% of total share capital) within 90 days after the announcement [2][3]. - As of the announcement date, the reduction plan had not been implemented, and the shareholders decided to terminate the plan early, resulting in zero shares being sold [3][5]. - The total intended reduction amount was 0 yuan, with a reduction completion status of "not completed" for the planned shares [5].

Core Points - The recent suspension of tax exemptions on imports valued at $800 or less by the U.S. marks a significant escalation in its tariff policy, impacting cross-border e-commerce and American consumers [1][2] - The elimination of small package tax exemptions, in place since 1938, has provided substantial benefits to U.S. consumers and small businesses, with the number of small packages increasing nearly tenfold from 139 million in 2015 to approximately 1.36 billion in 2024 [2][3] - The removal of these exemptions is expected to impose a cost burden of $11 billion to $13 billion on U.S. consumers, particularly affecting small businesses that rely on imported components [3] Industry Impact - The decision has led to over 20 postal services worldwide suspending shipments to the U.S., indicating a breakdown in international postal cooperation and raising concerns about operational disruptions [1][2] - The U.S. small business sector, which has created two-thirds of all new jobs in recent decades, is particularly vulnerable to these changes, as they face increased costs and reduced access to diverse products [3] - The backlash against U.S. tariff policies is growing globally, with countries like France, India, and Brazil considering retaliatory measures, highlighting the geopolitical implications of these economic decisions [4]

Core Viewpoint - The candidate Zhang Xi has declared their qualifications and independence to serve as an independent director for Jiayou International Logistics Co., Ltd, ensuring compliance with relevant laws and regulations [1][4]. Summary by Sections Qualifications - The candidate possesses basic knowledge of listed company operations and has over 5 years of relevant work experience in law, economics, accounting, finance, or management [1]. - The candidate has completed training recognized by the stock exchange [1]. Compliance with Regulations - The candidate meets the requirements set forth by various laws and regulations, including the Company Law of the People's Republic of China and the Management Measures for Independent Directors of Listed Companies by the China Securities Regulatory Commission [1]. Independence - The candidate confirms independence by stating they do not have any relationships that could affect their impartiality, including not being a major shareholder or having significant business dealings with the company [1]. No Adverse Records - The candidate has no adverse records such as administrative penalties from the China Securities Regulatory Commission or criminal charges within the last 36 months [2][3]. Commitment to Responsibilities - The candidate acknowledges the responsibilities of an independent director and commits to adhering to all relevant laws and regulations, ensuring sufficient time and effort to fulfill their duties [4].

Core Insights - SF Holding's Chairman Wang Wei emphasizes the importance of employees and talent in the company's growth strategy, showcasing a commitment to shared success with staff [3][6] - The company reported impressive financial results for the first half of 2025, with revenue reaching 146.858 billion yuan, a year-on-year increase of 9.26%, and net profit of 5.738 billion yuan, up 19.37% [3] - SF Holding introduced a "Shared Growth Stock Ownership Plan" that allows employees to receive up to 200 million A-shares without any investment, highlighting the company's focus on long-term talent engagement [5][6] Financial Performance - In the logistics sector, SF Holding achieved a significant growth rate, with its express logistics business handling 7.85 billion packages, a year-on-year increase of 25.7%, surpassing the industry average growth of 19.3% [3] - The company's revenue growth is attributed to its strategic focus on "expansion" and "consolidation," with instant delivery revenue increasing by 38.86% year-on-year [5] Employee Engagement and Incentives - The "Shared Growth Stock Ownership Plan" is characterized by a long vesting period of 9 years, no employee investment required, and broad participation among key personnel, covering 7,177 individuals [5] - Wang Wei's personal initiative to distribute gratitude bonuses to employees with over 10 years of service reflects a culture of appreciation and long-term commitment to staff [6] Corporate Culture and Management Philosophy - SF Holding's corporate culture emphasizes respect for employees and equality, aiming to create a supportive environment for staff [6][12] - The company has upgraded its cultural values to focus on customer-first, integrity, and love, indicating a holistic approach to both internal and external relations [12] Growth Strategy - SF Holding's growth strategy involves not only external market expansion but also internal talent management, recognizing employees as the most valuable asset [9][13] - The company aims to create a positive feedback loop where employee satisfaction leads to customer satisfaction, ultimately driving business success [12][13]

Core Insights - The total social logistics volume in China from January to July reached 201.9 trillion yuan, with a year-on-year growth of 5.2% [1] - The logistics market is showing stable growth, with industrial and consumer logistics demonstrating resilience [2][3] Group 1: Logistics Performance - From January to July, the logistics industry generated a total revenue of 8.2 trillion yuan, reflecting a year-on-year increase of 4.9% [3] - The logistics business activity index averaged 50.5 points, indicating continued expansion, while the new orders index for logistics companies was at 52.5 points, suggesting a recovery in business conditions [3] Group 2: Industrial and Consumer Logistics - Industrial logistics maintained a solid foundation, with a total volume growth of 5.7% from January to July, supported primarily by the manufacturing sector [1] - The logistics demand for units and residential goods grew by 6.2% year-on-year, driven by policies encouraging consumption and the rise of online retail [2] Group 3: Import Logistics - The total logistics volume for imported goods decreased by 2.4% year-on-year, but the decline was less severe than in the first half of the year, with a 1.4% increase in July [2] - High-tech products, particularly machine tools and integrated circuits, were significant contributors to the improvement in import logistics [2]

Core Insights - The logistics sector in China has shown stable growth in the first seven months of the year, with a total social logistics volume of 201.9 trillion yuan, reflecting a year-on-year increase of 5.2% [1] - The growth rate of logistics has slightly declined compared to the first half of the year, indicating a need for monitoring effective demand and market conditions [1][3] Group 1: Logistics Performance - The total logistics revenue for the logistics industry reached 8.2 trillion yuan, with a year-on-year growth of 4.9%, showing a slight decrease in growth rate compared to the first half of the year [2] - The logistics demand from units and residents increased by 6.2% year-on-year, indicating a robust recovery in consumption-related logistics [2] - The logistics market is expanding, with over 85% of 35 industries experiencing growth in logistics demand [1][2] Group 2: Sector Dynamics - High-end manufacturing and green low-carbon logistics are driving structural optimization in the logistics sector [1] - The international logistics segment has emerged as a new growth point, with significant increases in railway and air freight transport volumes [3] - The logistics industry is experiencing a positive cycle driven by consumption policies, with new retail formats like live streaming and instant retail contributing to growth [2][3] Group 3: Future Outlook - The logistics market is expected to maintain stable growth, supported by favorable policies and a positive outlook from micro-entities [3] - The business activity expectation index for July remained high at 55.6%, indicating optimism in market development [3] - New growth areas such as low-altitude logistics, supply chain integration, and cross-border e-commerce logistics are showing significant development momentum [3]

Core Insights - The total revenue of China's logistics industry from January to July reached 8.2 trillion RMB, reflecting a year-on-year growth of 4.9% [1] - The average logistics prosperity index for the same period was 50.5 points, indicating continued expansion, with a business volume index of 50.5% in July and a new orders index of 52.5%, suggesting a recovery in business conditions [1] - The growth momentum in the logistics sector is strong, with notable developments in the central and western regions, new business models leading the way, and robust demand driven by consumption upgrades [1] Regional Analysis - The logistics demand in the central and western regions is showing sustained growth, while the eastern region maintains a steady growth trend with an index of 50.3 [1] - A coordinated regional development pattern is emerging, highlighting the structural changes in the logistics market [1] Industry Trends - New business models and international logistics are performing exceptionally well, with the e-commerce express delivery sector continuing to show high levels of activity [1] - International logistics has become a new growth point, supported by diversified foreign trade policies that drive rapid growth in key areas and international railway transport [1] - Air freight, particularly in cross-border e-commerce, saw a 21.5% year-on-year increase in cargo and mail transport volume on international routes, supporting the smooth operation of supply chains [1][2]

Core Insights - The logistics sector in China has shown steady growth in the first seven months of 2025, with a total social logistics volume of 201.9 trillion yuan, reflecting a year-on-year increase of 5.2% [1][5][13] - The logistics industry revenue reached 8.2 trillion yuan, with a year-on-year growth of 4.9%, indicating a stable market scale and strong internal momentum among enterprises [8][12] - The logistics market is experiencing structural changes, with significant growth in the central and western regions, and new business models leading the way [2][8] Logistics Performance - The total social logistics volume for July increased by 4.9% year-on-year, although the growth rate showed a slight decline compared to previous months [5][13] - Industrial logistics and import logistics have demonstrated resilience, contributing to the overall growth in logistics demand [5][6] - The logistics industry maintained a business activity index of 50.5, indicating continued expansion [8] Regional Dynamics - The central and western regions of China are leading in growth, with business volume indices of 52.3 and 50.9, respectively, surpassing the national average [2][8] - The eastern region's index stands at 50.3, reflecting stable growth [2][8] Structural Changes - New business models, particularly in e-commerce and express delivery, are thriving, with the e-commerce logistics business volume index reaching 130.9 [9][10] - High-tech products and green logistics are becoming significant drivers of demand, with logistics for high-tech manufacturing growing by 9.3% [7][9] Market Trends - The logistics service price level is showing a mixed trend, with coastal transport prices slightly increasing while express delivery prices are declining [11] - Logistics enterprises are improving operational efficiency, with a reported business income growth of 4.8% in the first seven months [12] Future Outlook - The logistics sector is expected to benefit from stable and flexible policies aimed at reducing costs and enhancing market potential [13] - The business activity expectation index remains high at 55.6%, indicating positive market sentiment among logistics enterprises [13]

畅联股份公告，2025年上半年营业收入7.39亿元，同比下降10.78%。净利润6830.97万元，同比下降 14.62%。 ...

北京商报讯（记者 张茜琦）8月28日，中国物流与采购联合会公布今年前七个月物流运行数据。1-7 月，我国物流运行延续稳中有进的发展态势，社会物流总额突破200万1-7月份，全国社会物流总额 201.9万亿元，同比增长5.2%。从结构看， 1-7月，工业品物流总额同比增长5.7%。工业品物流增长态势 保持平稳，增长面持续扩大。35个行业物流需求实现同比增长，增长面超过85%。其中，高端制造业物 流需求快速增长。单位与居民物品物流需求稳健增长。1-7月，单位与居民物品物流总额同比增长 6.2%，比上半年提高0.1个百分点。消费相关物流需求延续恢复态势，"以旧换新"政策带动家用电器和 音像器材类、通信器材类物流需求快速增长。 ...