Changjiu Logistics(SH:603569)2024-11-15 10:29Financial Performance - In the first three quarters of 2024, the company's revenue reached 2.91 billion CNY, an increase of 1.79% compared to the same period last year [1] - The net profit attributable to shareholders was 61.17 million CNY, a decrease of 31.89% year-on-year [1] - The net profit after deducting non-recurring gains and losses was 65.07 million CNY, down 28.30% year-on-year [1] - The gross profit margin was 11.48%, an increase of 0.31 percentage points compared to the previous year [1] - As of the end of September, accounts receivable amounted to 1.269 billion CNY, with cash and cash equivalents at 551 million CNY, and a debt-to-asset ratio of 47.78% [1] Company Overview - Changjiu Logistics, listed in 2016, is the first A-share listed third-party automotive logistics company in China [1] - The company operates three main business segments: complete vehicle division, international division, and new energy division [3] - The complete vehicle business includes transportation and supporting services, which is the primary source of revenue [3] - The international business provides comprehensive transportation solutions, including full container and less-than-container load shipping [3] - The new energy division focuses on logistics and recycling services for power batteries, promoting a closed-loop system for battery recovery [3] Recent Developments - The company acquired a new roll-on/roll-off ship capable of carrying 6,200 vehicles, with a total deck area of approximately 52,000 square meters [3] - The ship, named "Jiuyanglong," was launched on August 9 and will be used for global shipping operations [3] - Changjiu Logistics has established a strong presence in Northeast China, responding to national initiatives to revitalize the region [4] - The company has been actively involved in the China-Europe Railway Express since 2015, enhancing its international logistics capabilities [4] Cost Reduction and Efficiency Measures - The company is leveraging technology to reduce logistics costs, including partnerships with leading companies in autonomous driving and AI logistics systems [5] - Changjiu Logistics has been involved in second-hand vehicle export since 2019, with its subsidiary approved as a pilot enterprise for this business [5]