每经AI快讯，有投资者在投资者互动平台提问：请问贵公司下属的重要子公司港丰能源是不是地处福 建泉州？该公司主要从事什么业务？未来发展方向在哪些方面？ （记者 胡玲） 宏川智慧（002930.SZ）12月9日在投资者互动平台表示，公司公司控股子公司福建港丰能源有限公司 （以下简称"福建港能"）位于福建省泉州市，主要为境内外石化产品生产商、贸易商和终端用户提供仓 储综合服务及其他相关服务。福建省泉州市是国家重点港口城市，也是国家级的九大炼油基地之一，其 地理位置优越，随着湄洲湾石化基地的日益发展，化工产品的储存需求也将随之增加，为福建港能的日 常经营提供了良好的基础。 ...

（编辑 袁冠琳） 证券日报网讯 宏川智慧11月26日在互动平台回答投资者提问时表示，公司系一家致力于成为全球领先 的能源及化工仓储物流服务商，主要为境内外石化产品生产商、贸易商和终端用户提供仓储综合服务及 其他相关服务，主要储存的石化产品包括成品油、醇类及其他液体化学品。 ...

宏川智慧（002930.SZ）11月26日在投资者互动平台表示，公司系一家致力于成为全球领先的能源及化 工仓储物流服务商，主要为境内外石化产品生产商、贸易商和终端用户提供仓储综合服务及其他相关服 务，主要储存的石化产品包括成品油、醇类及其他液体化学品。 （文章来源：每日经济新闻） 每经AI快讯，有投资者在投资者互动平台提问：您好，请问公司存储产品的醇类产品中有煤化工的煤 制甲醇和煤制乙二醇等产品吗？公司的客户中是否有煤化工企业？ ...

Group 1: Company Overview - The company is an independent third-party logistics and warehousing service provider, not engaged in non-ferrous metal trading [2] - Main business operations include logistics comprehensive services and warehousing comprehensive services [2] Group 2: Green Development Initiatives - The company actively procures electric forklifts, electric tractors, and electric front lifts to replace traditional fuel-powered equipment [3] - Utilizes clean energy sources, such as solar power, to reduce carbon emissions and enhance sustainability [3] Group 3: Clientele and Market Focus - The company focuses on bulk commodity logistics and warehousing, serving large smelting plants and traders [3] - Notable clients include Tianshan Aluminum, Henan Shenhuo, and Glencore [3] Group 4: Domestic Layout - The company’s subsidiaries are strategically located near major production and consumption areas for bulk commodities [3] - Subsidiaries are distributed across South China, East China, Central China, and Northwest regions, close to transportation hubs for efficient logistics [3]

Group 1: Company Overview - The company currently has no acquisition plans and will disclose any future plans in accordance with legal requirements [2] - The company is actively pursuing green development by acquiring new energy transportation and handling equipment, including AGV intelligent handling robots [3] Group 2: Service Offerings - The company's warehousing services cover a variety of products, including aluminum ingots, aluminum rods, electrolytic copper, stainless steel, aluminum alloy ingots, aluminum coils, zinc ingots, tin ingots, cast aluminum alloys, industrial silicon, and cotton yarn [3] - The business structure for the first half of 2025 shows that transportation services account for 78% of revenue, while comprehensive warehousing services account for 21.32% [3] Group 3: Revenue Distribution - Revenue distribution by region for the first half of 2025 is as follows: - South China: 24.94% - East China: 23.72% - Southwest: 5.35% - Northwest: 16.79% - Central China: 10.69% - North China: 10.37% - Northeast: 0.04% - Hong Kong, Macau, Taiwan, and overseas: 8.10% [3]

Core Viewpoint - Jushen Co., Ltd. is a comprehensive logistics service provider in the non-ferrous metal logistics sector, established in 2011 and listed on the Shenzhen Stock Exchange in 2021, with a focus on providing diversified logistics services across the entire industry chain [1] Group 1: Business Performance - In Q3 2025, Jushen's revenue was 1.303 billion yuan, ranking 11th among 13 companies in the industry, significantly lower than the top company, Jianda Co., Ltd., which reported 49.898 billion yuan [2] - The revenue breakdown shows transportation services generated 516 million yuan (78.00%), while warehousing services contributed 141 million yuan (21.32%) [2] - The net profit for the same period was 46.259 million yuan, placing the company 10th in the industry, far below the leading company, Wuchan Zhongda, which had a net profit of 4.512 billion yuan [2] Group 2: Financial Ratios - As of Q3 2025, Jushen's debt-to-asset ratio was 55.20%, an increase from 44.63% in the previous year, but still below the industry average of 67.16%, indicating relatively strong debt repayment capability [3] - The gross profit margin for Q3 2025 was 12.45%, down from 20.57% year-on-year, yet still above the industry average of 5.58%, suggesting a competitive edge in profitability [3] Group 3: Shareholder Information - As of July 31, 2025, the number of A-share shareholders increased by 2.68% to 11,000, while the average number of circulating A-shares held per shareholder decreased by 2.61% to 10,600 [5] Group 4: Executive Compensation - The chairman and general manager, Lei Qi, received a salary of 691,600 yuan in 2024, a decrease of 12,800 yuan from 2023 [4]

Core Insights - The company held a specific investor survey on September 3, 2025, with participation from 23 institutions, including Guosen Securities, to discuss business development and market value management [1][2]. Group 1: Business Growth - In the first half of the year, the company's logistics comprehensive service revenue increased by 65.38% year-on-year, accounting for 78.00% of total revenue, becoming the main growth driver [3]. - The warehousing comprehensive service also showed steady growth, with a year-on-year increase of 12.65%, contributing 21.32% to total revenue [3]. Group 2: Future Development Direction - The company plans to deepen its focus on the domestic bulk commodity logistics market, consolidate existing customers, study industry policies and customer needs, and explore new markets, clients, and service categories [3]. - There is an emphasis on enhancing warehousing and logistics network construction to maintain service advantages and improve management efficiency and responsiveness [3]. - The company aims to implement a "going out" strategy, leveraging existing global network resources to expand into overseas transshipment markets, thereby enhancing international competitiveness [3]. Group 3: Market Value Management - The company places high importance on market value management by improving internal value through operational excellence and enhancing the quality of information disclosure [3]. - It aims to maintain good communication with investors through various channels to convey the company's investment value [3]. Group 4: Core Business Areas - Currently, the company's core business consists of logistics comprehensive services and warehousing comprehensive services, with no involvement in bulk commodity trading as of now [3]. - The main service areas in China are strategically located around the production and consumption ends of non-ferrous metals, with production concentrated in the Northwest and Southwest regions, and consumption focused in East and South China [3].

Group 1: Revenue Sources - Logistics transportation services are the primary source of revenue, with multi-modal transport, agency transport, and self-operated transport business growing together. This segment saw a revenue increase of 65.38% year-on-year, accounting for 78.00% of total revenue [3] - Warehousing services also experienced steady growth, with a year-on-year increase of 12.65%, contributing 21.32% to total revenue [3] Group 2: Future Development Directions - The company aims to deepen its focus on the domestic bulk commodity logistics market, consolidating existing customers while closely monitoring industry policies and enhancing customer demand research. It plans to explore new markets, clients, and service categories, and strengthen logistics network construction [3] - The company will continue to implement the "going out" strategy, seizing opportunities in overseas markets, particularly in land transportation in Central Asia, leveraging existing global customer networks to expand overseas transshipment markets and enhance international competitiveness [3] Group 3: Market Value Management - The company places high importance on market value management, striving to improve intrinsic value through operational excellence. It will enhance the quality of information disclosure and maintain good communication with investors through various channels to convey investment value [3] Group 4: Current Business Operations - Currently, the company’s core operations include logistics comprehensive services and warehousing comprehensive services, with no involvement in bulk commodity trading [3] - The company’s service areas are primarily focused on the production and consumption locations of non-ferrous metals, with operations in the Northwest and Southwest for production and in East and South China for consumption [3]

Group 1: Management and Stability - The company emphasizes the stability of its management team and continuous professional development through long-term incentive mechanisms and internal promotion systems [1] - A rotating presidency system and management meetings have been implemented to enhance the management team's capabilities and cohesion [1] Group 2: Financial Performance and Challenges - The company reported a revenue of 1.547 billion yuan in 2023, a year-on-year increase of 22.44%, and a net profit of 296 million yuan, up 31.73% [11] - The decline in performance is attributed to macroeconomic cyclical factors and a decrease in market demand, impacting revenue and occupancy rates [2][7] - The company has a current cash flow of approximately 500 million yuan, with short-term liabilities of about 1.1 billion yuan and long-term borrowings nearing 5 billion yuan [2][8] Group 3: Debt Management and Financial Strategy - The company maintains a good debt repayment capacity and plans to optimize its loan structure by replacing high-cost loans with low-cost ones [2][8] - The net cash flow from operating activities for 2024 is projected to reach 912 million yuan, approximately 5.77 times the net profit for the same period [11] Group 4: Market Conditions and Strategic Responses - The company is monitoring the impact of U.S. tariffs and trade wars on the petrochemical industry, noting that the effects on its operations are minimal due to its domestic focus [2] - The company is committed to expanding its market presence and enhancing service offerings to adapt to changing market conditions [5][10] Group 5: Future Outlook and Growth Plans - The company aims to continue its acquisition strategy to expand its operational capacity and enhance service integration [7][9] - Future growth is expected to be driven by improved market conditions and strategic collaborations within its extensive storage network [10][11]

Core Insights - Yushen Co., Ltd. reported a revenue of 1.04 billion yuan for the year 2023, marking a year-on-year growth of 4.59% and a net profit of 81.57 million yuan, which is a 31.17% increase compared to the previous year [1] - The company plans to issue a stock bonus of 3 shares for every 10 shares held by shareholders [1] Business Overview - Yushen Co., Ltd. specializes in bulk commodity logistics and warehousing services, operating as a national 4A-level logistics enterprise with a comprehensive multimodal transport and warehousing network across China [1] - The company has established 13 wholly-owned subsidiaries in key locations for non-ferrous metal consumption and production, including Guangdong, Guangxi, and Xinjiang [1] Revenue Breakdown - In 2024, the transportation services segment generated revenue of 755 million yuan, benefiting from an upgraded multimodal transport service model [1] - The warehousing services segment achieved revenue of 275 million yuan, reflecting a significant year-on-year growth of 54.95% and a gross margin of 59.37%, becoming a core driver of profit growth [2] Strategic Positioning - Yushen Co., Ltd. has developed extensive experience in direct transportation services, particularly in the context of rising domestic aluminum demand and investments in Guinea, a major source of bauxite for China [2] - The company provides efficient and cost-effective logistics services through its own fleet, enhancing customer stability and loyalty [2] Infrastructure and Partnerships - The company has established multiple branches in strategic locations across southern, eastern, and central China, optimizing transportation solutions and enhancing logistics efficiency [3] - Yushen Co., Ltd. has long-term partnerships with major domestic futures exchanges, holding designated delivery warehouse qualifications for various commodities, supporting the conversion between futures and spot markets [3] Innovation and Development - In 2024, the company increased its R&D investment by 24.35%, launching innovative projects such as a logistics management cloud platform and an AGV automated handling system [3] - The company’s self-developed information system has received national certification, ensuring data security and business continuity [3] Future Plans - For 2025, Yushen Co., Ltd. aims to deepen its focus on the domestic bulk commodity logistics market while exploring new markets, clients, and service categories [4] - The company plans to implement a "going out" strategy to seize overseas market opportunities, particularly in Guinea, leveraging existing customer networks to enhance its international competitiveness [4]