（记者 曾健辉） 每经AI快讯，交运股份1月28日晚间发布业绩预告，预计2025年年度实现归属于母公司所有者的净利润 约为约-2.9亿元，与上年同期（上年同期为约-3.91亿元）相比，将出现亏损。业绩变动主要原因是，主 营业务影响。公司主要业务板块包括道路货运与物流服务、汽车零部件制造与销售服务、乘用车销售与 汽车后服务。道路货运与物流服务板块继续受到公路货运市场竞争等影响，主营业务承压明显，业务量 及营业收入有所下降，且因存在相对固定成本，导致毛利率有所下降，进而影响公司利润。汽车零部件 制造与销售服务板块的主要客户订单量虽较上年同期有所回升，但仍低于该板块生产基地、生产设备、 人员配置等设计产能，进而影响公司利润。乘用车销售与汽车后服务板块受传统燃油车产销量及盈利率 大幅下降影响，传导至该板块以传统燃油车品牌为主的汽车销售业务进销差价倒挂，导致汽车销售业务 的毛利率有所下降，进而影响公司利润。 每经头条（nbdtoutiao）——从极寒测试到万套装车！半固态电池今年有望搭载多款新车：各大厂商摩 拳擦掌，动力电池技术迎来迭代年 ...

1、公司下属道路货运与物流服务板块继续受到公路货运市场竞争等影响，主营业务承压明显，业务量 及营业收入有所下降，且因存在相对固定成本,导致毛利率有所下降，进而影响公司利润。 2、公司下属乘用车销售与汽车后服务板块受传统燃油车产销量及盈利率大幅下降影响，传导至该板块 以传统燃油车品牌为主的汽车销售业务进销差价倒挂，导致汽车销售业务的毛利率有所下降，进而影响 公司利润。 交运股份（600676）(600676.SH)发布公告，经公司财务部门初步测算，预计2025年度归属于上市公司 股东的净利润为负值，公司2025年度经营业绩将出现亏损，主要原因如下： ...

1、公司下属道路货运与物流服务板块继续受到公路货运市场竞争等影响，主营业务承压明显，业务量 及营业收入有所下降，且因存在相对固定成本,导致毛利率有所下降，进而影响公司利润。 智通财经APP讯，交运股份(600676.SH)发布公告，经公司财务部门初步测算，预计2025年度归属于上 市公司股东的净利润为负值，公司2025年度经营业绩将出现亏损，主要原因如下： 2、公司下属乘用车销售与汽车后服务板块受传统燃油车产销量及盈利率大幅下降影响，传导至该板块 以传统燃油车品牌为主的汽车销售业务进销差价倒挂，导致汽车销售业务的毛利率有所下降，进而影响 公司利润。 ...

2、公司下属乘用车销售与汽车后服务板块受传统燃油车产销量及盈利率大幅下降影响，传导至该板块 以传统燃油车品牌为主的汽车销售业务进销差价倒挂，导致汽车销售业务的毛利率有所下降，进而影响 公司利润。 格隆汇1月13日丨交运股份(600676.SH)公布，经上海交运集团股份有限公司财务部门初步测算，预计 2025年度归属于上市公司股东的净利润为负值，公司2025年度经营业绩将出现亏损，主要原因如下： 基于上述等原因，根据初步测算，公司2025年全年业绩将出现亏损情况。 1、公司下属道路货运与物流服务板块继续受到公路货运市场竞争等影响，主营业务承压明显，业务量 及营业收入有所下降，且因存在相对固定成本,导致毛利率有所下降，进而影响公司利润。 ...

报告期内，公司下属道路货运与物流服务板块继续受到公路货运市场竞争等影响，主营业务承压明显， 业务量及营业收入有所下降，且因存在相对固定成本，导致毛利率有所下降，进而影响公司利润。 公司下属乘用车销售与汽车后服务板块受传统燃油车产销量及盈利率大幅下降影响，以传统燃油车品牌 为主的汽车销售业务进销差价倒挂，导致汽车销售业务的毛利率有所下降，进而影响公司利润。 人民财讯1月13日电，交运股份（600676）1月13日公告，预计2025年度归属于上市公司股东的净利润为 负值，公司2025年度经营业绩将出现亏损。 ...

Core Viewpoint - The company, Jiaoyun Co., plans to swap its passenger vehicle sales and automotive after-service assets with the cultural and tourism-related assets held by its controlling shareholder, Jiushi Group, and its affiliates, with the cash difference to be settled between the parties [1][2][3] Group 1: Asset Swap Details - The assets to be acquired include 100% equity of Shanghai Jiushi Sports Event Management Co., a newly established sports venue operation company, at least 62.4% equity of Shanghai Jiushi Smart Sports Co., 100% equity of Shanghai Pujiang Tour Group Co., and 100% equity of Shanghai Jiushi Performing Arts Co. [2] - The assets to be disposed of consist of 100% equity of Shanghai Automotive Repair Co., 100% equity of Shanghai Jiaoyun Automotive Power System Co., 100% equity of Shanghai Jiaoyun Precision Stamping Parts Co., 80% equity of Shanghai Tonghua Stainless Steel Pressure Vessel Engineering Co., 100% equity of Yantai Zhongrui Automotive Parts Co., and 100% equity of Shenyang Zhongrui Automotive Parts Co. [2] Group 2: Transaction Implications - This transaction constitutes a related party transaction and is expected to be a significant asset restructuring, but it will not involve issuing shares for asset purchases and will not change the controlling shareholder or actual controller of the company [3] - The transaction aims to facilitate a strategic business transformation for the company, improving asset quality, enhancing risk resistance, and increasing sustainable operational capacity and competitive advantage [3]

Core Viewpoint - The company, Jiaoyun Co., is planning a significant asset restructuring by swapping its passenger car sales and automotive after-service segments, along with automotive parts manufacturing and sales, with related assets in the cultural, sports, and tourism sectors held by its controlling shareholder, Jiushi Group. This move aims to facilitate a strategic business transformation, improve asset quality, enhance risk resistance, and boost operational sustainability and competitive advantage [1]. Group 1: Financial Performance - Jiaoyun Co. has reported continuous losses in its net profit attributable to shareholders, with figures of -174 million yuan, -429 million yuan, and -216 million yuan for the first three quarters of 2023, 2024, and 2025 respectively [1]. - The company's revenue for the same periods was 5.21 billion yuan, 4.44 billion yuan, and 3.23 billion yuan, indicating a downward trend in revenue [1]. - The logistics and road freight service segment is facing intense competition and underperformance in new business development, leading to significant pressure on the main business [1]. Group 2: Business Segments - The passenger car sales and after-service segment is struggling due to declining consumer demand and adverse market conditions, particularly for traditional fuel vehicle brands, resulting in limited profitability improvement [1]. - The automotive parts manufacturing and sales segment has seen a slight recovery in demand and sales revenue, but high fixed costs related to labor and equipment depreciation continue to limit profitability [1]. Group 3: Proposed Asset Swap - The proposed assets to be acquired include 100% equity of Shanghai Jiushi Sports Event Management Co., a newly established sports venue operation company, at least 62.40% equity of Shanghai Jiushi Smart Sports Co., 100% equity of Shanghai Pujiang Tourism Group Co., and 100% equity of Shanghai Jiushi Performing Arts Co. [1]. - The new sports venue operation company plans to manage several major sports venues, including Xujiahui Sports Park and Shanghai International Circuit, and will have its 100% equity swapped into Jiaoyun Co. [1]. - Jiushi Group's sports assets include hosting major events like the F1 Chinese Grand Prix and owning landmark sports venues and hotels, enhancing the potential value of the asset swap [1].

Group 1 - The company is planning a significant asset swap to transition from its current automotive-related business to the cultural and sports industry, which is expected to constitute a major asset restructuring [1] - The asset swap involves exchanging automotive sales and services, as well as parts manufacturing, for assets related to the cultural and sports sectors held by the controlling shareholder, Shanghai Jiushi (Group) Co., Ltd. [1] - The company aims to improve asset quality, enhance risk resistance, and boost operational sustainability and competitive advantage through this strategic transformation [1] Group 2 - The company has reported continuous losses in its net profit attributable to shareholders, with figures of -1.74 billion yuan, -4.29 billion yuan, and -2.16 billion yuan for the first three quarters of 2023, 2024, and 2025 respectively [1] - The main business segments, including road freight and logistics, passenger vehicle sales, and automotive parts manufacturing, are under pressure due to intense competition and declining consumer demand [2] - The proposed assets to be acquired include 100% equity of Shanghai Jiushi Sports Event Management Co., Ltd., a newly established sports venue operation company, and significant stakes in various sports and tourism-related entities [2][3] Group 3 - Shanghai Jiushi Sports Event Management Co., Ltd. holds numerous high-profile sports assets, including major events like the F1 Chinese Grand Prix and various sports venues in Shanghai [3] - The company also manages landmark sports facilities and has a basketball club that is the only entity in Shanghai qualified to participate in the Chinese Men's Basketball Professional League (CBA) [3]

Core Viewpoint - The company, Jiaoyun Co., Ltd. (交运股份), plans to conduct an asset swap with its controlling shareholder, Jiushi Group, and its affiliates, involving the exchange of assets in the sports, entertainment, and tourism sectors for its automotive-related assets [1][2] Group 1: Asset Swap Details - The assets to be acquired include 100% equity of Shanghai Jiushi Sports Event Management Co., Ltd., 100% equity of a newly established venue operation company, at least 62.40% equity of Shanghai Jiushi Smart Sports Co., Ltd., 100% equity of Shanghai Pujiang Tourism Group Co., Ltd., and 100% equity of Shanghai Jiushi Performing Arts Co., Ltd. [1] - The assets to be disposed of by Jiaoyun Co. include 100% equity of Shanghai Automobile Repair Co., Ltd., 100% equity of Shanghai Jiaoyun Automotive Power System Co., Ltd., 100% equity of Shanghai Jiaoyun Automotive Precision Stamping Parts Co., Ltd., 80% equity of Shanghai Tonghua Stainless Steel Pressure Vessel Engineering Co., Ltd., 100% equity of Yantai Zhongrui Automotive Parts Co., Ltd., and 100% equity of Shenyang Zhongrui Automotive Parts Co., Ltd. [1] Group 2: Transaction Structure and Regulatory Aspects - The transaction constitutes a related party transaction as the counterpart is Jiushi Group and its affiliates, with both parties being controlled by the Shanghai State-owned Assets Supervision and Administration Commission [2] - The transaction is expected to be classified as a major asset restructuring under the regulations but will not change the controlling shareholder or actual controller of the company [2] - A framework agreement for the asset swap has been signed, and the specific transaction price will be determined based on the assessed value of the assets involved, following due diligence and legal procedures [2]

Core Viewpoint - The company, Jiaoyun Co., Ltd. (交运股份), plans to conduct an asset swap with its controlling shareholder, Jiushi Group, and its affiliates, involving the exchange of assets related to the sports, entertainment, and tourism sectors for its automotive-related assets [1][2] Group 1: Asset Swap Details - The assets to be acquired include 100% equity of Shanghai Jiushi Sports Event Management Co., Ltd., 100% equity of a newly established venue operation company, at least 62.40% equity of Shanghai Jiushi Smart Sports Co., Ltd., 100% equity of Shanghai Pujiang Tourism Group Co., Ltd., and 100% equity of Shanghai Jiushi Performing Arts Co., Ltd. [1] - The assets to be disposed of by Jiaoyun Co. include 100% equity of Shanghai Automobile Repair Co., Ltd., 100% equity of Shanghai Jiaoyun Automotive Power System Co., Ltd., 100% equity of Shanghai Jiaoyun Automotive Precision Stamping Parts Co., Ltd., 80% equity of Shanghai Tonghua Stainless Steel Pressure Vessel Engineering Co., Ltd., 100% equity of Yantai Zhongrui Automotive Parts Co., Ltd., and 100% equity of Shenyang Zhongrui Automotive Parts Co., Ltd. [1] Group 2: Transaction Structure and Regulatory Aspects - The transaction constitutes a related party transaction as the counterpart is Jiushi Group and its affiliates, with both parties being controlled by the Shanghai State-owned Assets Supervision and Administration Commission [2] - The transaction is expected to be classified as a major asset restructuring under the regulations but will not change the controlling shareholder or actual controller of the company [2] - A framework agreement for the asset swap has been signed, and the specific transaction price will be determined based on the assessed value of the assets involved, following due diligence and legal procedures [2]