安能物流2024中期报告

中期報告INTERIM REPORT2024 CONTENTS目錄 Corporate Information BOARD OF DIRECTORS Executive Directors Mr. Qin Xinghua(Co-Chairman, chief executive officer)Mr. Jin Yun Non-executive Directors Mr. Chen Weihao(Co-Chairman)Mr. Wei BinMr. Zhang Yinghao Independent Non-executive Directors Mr. Li Wilson WeiMr. Geh George ShalchuMs. Sha ShaMr. Hung Cheung Fuk HEADQUARTERS AND PRINCIPALPLACE OF BUSINESS IN THE PRC 999EB8 8th Floor, Block BE Linke World North District999 Huaxu RoadXujing TownQingpu DistrictShanghai, PRC PRINCIPAL PLACE OF BUSINESS INHONG KONG 3485 5/F, Manulife Place348 Kwun Tong RoadKowloonHong Kong Corporate Information REGISTERED OFFICE PO Box 309Ugland HouseGrand Cayman KY1-1104Cayman Islands PO Box 309Ugland HouseGrand Cayman KY1-1104Cayman Islands PRINCIPAL SHARE REGISTRAR ANDTRANSFER OFFICE Maples Fund Services (Cayman) LimitedPO Box 1093, Boundary HallCricket Square, Grand Cayman KY1-1102Cayman Islands Maples Fund Services (Cayman) LimitedPO Box 1093, Boundary HallCricket Square, Grand Cayman KY1-1102Cayman Islands HONG KONG SHARE REGISTRAR ANDTRANSFER OFFICE 1617 Tricor Investor Services Limited17/F, Far East Finance Centre16 Harcourt RoadHong Kong COMPANY SECRETARY Ms. PUN Ka Ying AUTHORIZED REPRESENTATIVES Ms. PUN Ka YingMr. Qin Xinghua Corporate Information COMPLIANCE ADVISOR 2920 Somerley Capital Limited20th Floor, China Building29 Queen’s Road CentralCentral, Hong Kong AUDIT COMMITTEE Mr. Li Wilson Wei(Chairman)Mr. Geh George ShalchuMs. Sha ShaMr. Hung Cheung Fuk REMUNERATION COMMITTEE Mr. Hung Cheung Fuk(Chairman)Mr. Qin XinghuaMr. Li Wilson Wei NOMINATION COMMITTEE Mr. Qin Xinghua(Chairman)Mr. Li Wilson WeiMr. Hung Cheung Fuk ENVIRONMENTAL, SOCIAL ANDGOVERNANCE COMMITTEE Mr. Chen Weihao(Chairman)Mr. Qin XinghuaMr. Hung Cheung Fuk Corporate Information STRATEGY COMMITTEE Mr. Chen Weihao(Chairman)Mr. Qin XinghuaMr. Wei BinMr. Zhang Yinghao AUDITOR 97927 Ernst & YoungCertified Public Accountants and Registered PIE Auditor27/F, One Taikoo Place979 King’s RoadQuarry BayHong Kong LEGAL ADVISER Davis Polk & Wardwell10/F The Hong Kong Club Building3A Chater RoadCentralHong Kong Davis Polk & WardwellA STOCK CODE 9956 9956 www.ane56.com COMPANY WEBSITE www.ane56.com Management Discussion and Analysis I. I.BUSINESS OVERVIEW 20246.420235.3202356.528.0%72.4202394202489 We operate a leading express freight network in China’s less-than-truckload (“LTL”) market. Express freight network operators, likeus, are LTL service providers who have nationwide coverage, anddeliver timely and comprehensive freight transportation services.In the first half of 2024, we have completed shipment of a totalLTL freight volume of 6.4 million tons, compared to 5.3 milliontons for the same period in 2023. With the growth of our mini andlight freight segments, our total number of shipments increased by28.0% to 72.4 million, compared with 56.5 million in 2023, whilethe average freight weight per shipment decreased from 94 kg inthe first half of 2023 to 89 kg in the first half of 2024. 20246305.820236305.0 We mainly provide transportation services, value-added servicesand dispatch services to our freight partners, our direct customers.We, together with our freight partners and agents, served over 5.8million shippers, our end-customers, across China as of June 30,2024, compared to over 5.0 million as of June 30, 2023. Our Market and Industry Withthe accelerated digitalisation of commerce and tradeindomestic market of China and the rapid rise of crossbordere-commerce,the full spectrum of the supply chain,frommanufacturers to distributors,merchants and retailers,requires fast and high frequency inventory turnover. This couldonlybe achieved through efficient and comprehensive freighttransportation solutions to bring merchandise to warehouses andstores closer to end consumers. This in turn generates significantdemand for timely, comprehensive and reliable LTL services withnationwide coverage. We are well-positioned for this opportunitybyleveraging our nationwide network with comprehensive anddiverse product offerings tailored to different shipper preferencesregarding network coverage, timeliness, service quality and price. Management Discussion and Analysis B2C Historically,China’s LTL market was highly fragmented andinefficient with a large number of regional direct line and freightoperatorsproviding local logistics services in their respectiveareas. Such freight operators struggle to capture the opportunitiesand meet the challenges brought by B2C (business-to-consumer)e-commercegrowth and evolution in supply chains that haveensued. We have created the freight partner platform model todraw such local operators to our platform as freight partners andagents, empowering them and our entire network to serve as theinfrastructure for China’s new commerce landscape. Our Freight Partner Platform Under our freight partner platform model, we directly operate andcontrol all mis