Changjiu Logistics(SH:603569)2024-08-09 10:47Financial Performance - In 2023, the company achieved operating revenue of CNY 3.783 billion, a decrease of 4.41% year-on-year [2] - The net profit attributable to shareholders was CNY 703.933 million, an increase of 291.79% year-on-year [2] - The gross profit margin was 10.69%, an increase of 1.56 percentage points year-on-year [2] - In Q1 2024, the company reported operating revenue of CNY 900.3 million, a year-on-year increase of 2.18% [2] Business Segments - The company operates three main business segments: Complete Vehicle Division, International Division, and New Energy Division [3] - The Complete Vehicle Division includes vehicle transportation and supporting services, which is the primary source of revenue [3] - The International Division provides comprehensive transportation solutions, including full container and less-than-container load services [3] - The New Energy Division focuses on logistics and recycling services for battery manufacturers and related industries [3] Market Outlook - In 2023, China exported 5.22 million vehicles, with an export growth rate of 56% [3] - The Chinese automotive manufacturing industry is at an advanced global level, supported by a complete supply chain and strong transportation network [3] - The company anticipates continued growth in the automotive export market in the coming years [4] Expansion Plans - The company is monitoring the market dynamics of roll-on/roll-off ships to adjust capacity based on business needs [4] - In Q4 2023, the company launched its first cross-border road transport service, with routes to Tashkent, Bishkek, and Almaty [4] - The company acquired a new roll-on/roll-off ship capable of carrying 6,200 vehicles, enhancing its global shipping capabilities [4]