Group 1 - The company is focusing on cross-border transportation using its own vehicles and drivers to reduce risks and costs associated with relying on third-party logistics [1] - The significant decline in revenue over the past few years is attributed to the sale of part of its stake in Liaoning Hongtu Chuangzhan Surveying and Mapping Co., Ltd., which is no longer included in the revenue [2] - The growth in domestic business in the first half of the year is driven by both the acquisition of new clients and increased business volume from existing clients [3] Group 2 - As of June 30, 2025, the company's accounts receivable are primarily divided into supply chain and comprehensive logistics businesses, with significant amounts due within one year [4] - The company has not yet initiated TIR operations in 2024, with approximately 120 million in international revenue generated through transshipment [5] - TIR transportation is not a replacement for transshipment but rather an additional service offering, with distinct customer bases and advantages in delivery speed [6] Group 3 - Establishing a self-owned fleet will require significant short-term investment, but the promising market outlook for TIR transportation is expected to enhance the company's core competitiveness [7]

Group 1: Business Strategy - The company is expanding its own vehicle fleet for cross-border transportation to reduce reliance on third-party logistics, thereby lowering transportation costs and improving operational efficiency [2]. - The introduction of the TIR transportation model is a new business product that complements existing services rather than replacing them, offering significant time advantages [3]. Group 2: Financial Performance - The company's revenue has seen significant fluctuations due to the sale of a portion of its stake in Liaoning Hongtuo Chuangzhan Surveying and Mapping Co., Ltd., which is no longer included in the consolidated financial statements [2]. - As of June 30, 2025, accounts receivable from supply chain and comprehensive logistics services amounted to 28,622,000 and 17,141,000 respectively, with a significant portion due within one year [3]. Group 3: Market Dynamics - The growth in domestic business during the first half of the year is attributed to both the acquisition of new clients and increased business from existing clients [3]. - The company reported approximately 120 million in international revenue last year, primarily generated through traditional transshipment methods before the TIR business commenced [3].