Company Overview - Qianyuan Weike Holdings Limited has submitted an application to the Hong Kong Stock Exchange for a mainboard listing, with Agricultural Bank of China International as its sole sponsor [1] - The company is a comprehensive coal logistics service provider in China, focusing on reliable and high-quality services [1] - It is recognized as a major non-long-term coal logistics service provider in China, with a revenue scale that ranks it as the largest in Shaanxi Province and the second in Northwest China, holding approximately 0.5% market share in the region [1] Industry Insights - The non-long-term coal logistics service market has grown from RMB 709.4 billion in 2018 to RMB 928.7 billion in 2023, reflecting a compound annual growth rate (CAGR) of 5.5% [1] - The market is projected to reach RMB 1,210 billion by 2028, with an expected CAGR of 5.4%, driven by stable growth in downstream market demand and the increasing value of non-long-term coal logistics services [1] Financial Performance - For the fiscal years 2022, 2023, and 2024, as well as the six months ending June 30, 2025, Qianyuan Weike reported revenues of approximately RMB 4.524 billion, RMB 3.738 billion, RMB 3.662 billion, and RMB 1.924 billion respectively [2] - The company's annual profits for the same periods were approximately RMB 165 million, RMB 47.03 million, RMB 33.91 million, and RMB 23.41 million respectively [2] Operational Capacity - As of June 30, 2025, Qianyuan Weike operates four collection stations, including one owned and three leased or flexibly used through agreements with operators [2] - The company effectively covers over 30 coal mines through these collection stations [2]

Company Overview - Qianyuan Weike is a comprehensive coal logistics service provider in China, focusing on reliable and high-quality services. It is the largest non-long-term coal logistics service provider in Shaanxi Province and the second largest in Northwest China, holding approximately 0.5% of the market share in the region [3]. - The company coordinates resources along the coal industry value chain to offer various coal logistics and value-added services, supporting the operations of downstream coal-consuming enterprises [3]. Industry Insights - The non-long-term coal logistics service market has grown from RMB 709.4 billion in 2018 to RMB 928.7 billion in 2023, with a compound annual growth rate (CAGR) of 5.5%. The market is expected to reach RMB 1,210 billion by 2028, with a projected CAGR of 5.4% [3]. - The growth is driven by stable demand from downstream markets and the increasing value of non-long-term coal logistics services [3]. Financial Performance - For the fiscal years 2022, 2023, 2024, and the six months ending June 30, 2025, Qianyuan Weike reported revenues of approximately RMB 4.524 billion, RMB 3.738 billion, RMB 3.662 billion, and RMB 1.924 billion, respectively [4]. - The net profits for the same periods were approximately RMB 165 million, RMB 47 million, RMB 33.91 million, and RMB 23.41 million [4]. - The company operates four collection stations, effectively covering over 30 coal mines [3].

Company Overview - Qian Yuan Wei Ke Holdings Limited is a comprehensive coal logistics service provider in China, focusing on reliable and high-quality services [3] - The company is the largest non-long-term coal logistics service provider in Shaanxi Province and the second largest in Northwest China, holding approximately 0.5% market share in the region [3] Market Analysis - The non-long-term coal logistics service market has grown from RMB 709.4 billion in 2018 to RMB 928.7 billion in 2023, with a compound annual growth rate (CAGR) of 5.5% [3] - The market is expected to reach RMB 1,210 billion by 2028, with a projected CAGR of 5.4% [3] Financial Performance - Revenue for the fiscal years 2022, 2023, 2024, and the six months ending June 30, 2025, were approximately RMB 4.524 billion, RMB 3.738 billion, RMB 3.662 billion, and RMB 1.924 billion respectively [4][6] - Net profit for the same periods was approximately RMB 165 million, RMB 47 million, RMB 33.9 million, and RMB 23.4 million respectively [4][6] - The gross profit margin has shown a decline, with gross profit as a percentage of revenue at 7.5% in 2022, dropping to 3.4% in the six months ending June 30, 2025 [6]