HPF(SZ:300350)2025-09-26 11:08Group 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].