Company News | Changjiu Logistics 2024 Annual Meeting concluded triumphantly under the theme “Forward with One Heart. No Retreat”

Company News | Changjiu Logistics 2024 Annual Meeting concluded triumphantly under the theme “Forward with One Heart. No Retreat”

EDT 31 JAN 2024, 10:51 a.m.

On 22nd January, “Forward with one heart. No Retreat” Changjiu Logistics 2024 theme annual meeting was held in Changchun. The company’s management, all the staff of Jilin Province, staff representatives of the remaining branches, award-winning employees, external guests, a total of more than 350 people gathered together to celebrate the event.

At the beginning of the meeting, Mr. Bo Shijiu, Chairman of Changjiu Logistics, delivered a keynote speech entitled “Remain true to our original aspiration. Forward with One Heart”. Mr. Bo mentioned that this annual meeting returned to Changchun, the place where the “Changjiu Dream” started, not only to hold a grand event but also to find out how to find the original heart of the business in the new development stage of the enterprise. He also put forward a number of expectations and called on all the people at Changjiu Logistics to make concerted efforts and move forward!

Opening of  Changjiu Logistics 2024 Annual Meeting

Delivering a keynote speech titled “Confidence is More Important Than Gold,” Mr. Yan Chao, the rotating president of Changjiu Logistics, passionately discussed the remarkable achievements and boundless potential for improvement that the company experienced in 2023. By intricately examining the company’s operational performance and delving into the depths of management and culture, Mr. Yan not only summarized the progress made in the past year but also presented a compelling outlook for the company’s growth and development in 2024.

Mr Bo Shijiu, Chairman and Mr Yan Chao, Rotating President

During the 2024 performance contract signing session, all key leaders, including the chairman of the board of directors, vice presidents responsible for every business and functional area, as well as the heads of provincial companies and regional fleets, came together to seal the 2024 performance contract in the presence of all attendees. Following the signing, each contract issuer presented the contractee with a specially printed contract bearing the words “Forward with one heart. No Retreat” alongside the company’s emblem.

The executive team took the flag to the stage and made a collective appearance, shouting out the theme slogan of this annual meeting in turn. After the appearance of the executives, all the attending members stood up and took the oath of 2024 together!

51 outstanding individuals and 4 outstanding teams were honoured during the award ceremony session.

2024 Annual Meeting Award Presentation Session

The cultural evening show showcased thrilling performances and a thrilling lucky draw that heightened the atmosphere, one climax after another.

2024 Changjiu Logistics Chinese Lunar New Year Cultural Evening Show

As the party drew to a close, the esteemed leaders of Changchun Group raised their glasses in a heartfelt toast. They expressed their deep gratitude to the various levels of government and the Changchun Auto Development Zone Management Committee, who have continuously supported and nurtured the growth of Changchun Logistics. They also extended their sincere thanks to their dedicated colleagues, whose hard work has propelled the company forward. With genuine warmth, they wished everyone a joyous Chinese New Year filled with nothing but the very best.

Picture Collection:

Changjiu Holdings LTD. (6959.HK) Officially Launched on the Hong Kong Stock Exchange: Fully Grasping the Industry Opportunities and Highlighting the Long-Term Investment Value

Changjiu Holdings LTD. (6959.HK) Officially Launched on the Hong Kong Stock Exchange: Fully Grasping the Industry Opportunities and Highlighting the Long-Term Investment Value

09 Jan 2024, 12:39 p.m. EDT

On 9 January, China’s largest provider of vehicle monitoring services for automobile pledges, Changjiu Company Limited (hereinafter referred to as “Changjiu” or the “Company”, stock code: 6959.HK), was officially listed on the Main Board of the Hong Kong Stock Exchange, becoming a member of the automobile services sector.

Changjiu is principally engaged in the provision of pledge vehicle monitoring services and automobile dealership operation and management services in the PRC. In terms of revenue in 2022 (with a market share of 47.9%) and the number of automobile dealership users as at 31 December 2022, Changjiu is the largest provider of pledge vehicle monitoring services in the automobile distribution sector in the PRC.

Changjiu has been providing pledged vehicle monitoring services for many years and has accumulated extensive experience and expertise in the automotive distribution sector in China. As a natural extension of its business, the company has made every effort to expand its business scope and started to provide operation management services to automobile dealers seeking better business and financial performance in April 2022, thereby forming two business lines, opening up new growth poles and diversifying its revenue sources, making it a forerunner in automobile dealership operation management services.

In 2022, the average gross profit margin of automobile dealerships using ChangJiu’s automobile dealership operation and management services was 7.2%, which was higher than the average performance of automobile dealerships with similar size, brand position and geographical layout. As at 30 June 2023, the Company managed 75 car dealerships, one of which is owned by an independent third party. As at the Latest Practicable Date, the company had entered into non-legally binding letters of intent with 144 car dealerships, all of which are owned by independent third parties.

In recent years, Changjiu’s revenue has achieved steady growth. In 2020, 2021 and 2022, the Company’s revenue will be RMB430.6 million, RMB477.7 million and RMB547.9 million respectively, representing a compound annual growth rate of 12.8%. Revenue also increased from RMB258.7 million in 1H 2022 to RMB309.4 million in 1H 2023. In addition, the number of automobile dealers using the Company’s pledge vehicle monitoring services has also steadily increased from 8,316 as at 31 December 2020 to 9,205 as at 31 December 2021, then to 10,684 as at 31 December 2022 and further to 11,152 as at 30 June 2023.

The continued expansion of its business scale has enabled Changjiu to build up a large and quality user base. As at 30 June 2023, the Company provided pledge vehicle monitoring services to approximately 200 branches of 18 commercial banks (including all the “Big Six” state-owned commercial banks and 12 joint-stock commercial banks in the PRC), 27 automobile finance companies and 11,152 automobile dealers. Ninety-two of the top 100 automobile dealer group companies in China use the Company’s pledge vehicle monitoring services. In addition, the Company extends its services downstream to the industry by providing free access to its mobile application, Jiuzhutong, for tracking pledged vehicles to approximately 50,000 integrated auto traders in China.

From an industry perspective, the penetration of pledge vehicle monitoring services for automobile dealers in the PRC is expected to increase with the development of the passenger car market in the PRC. According to Scorchlight Consulting, the market size of pledged vehicle monitoring services for automobile dealers in the PRC, in terms of revenue, will increase from RMB873.1 million in 2018 to RMB1,054.0 million in 2022, at a CAGR of approximately 4.8%, and is expected to reach RMB1,451.9 million in 2027.

With its rich service supply and strong technological capability, iteratively adding to its high-quality user base, Changjiu will continue to expand its ecosystem in the automotive distribution sector, deeply linking with participants in the automotive distribution industry, enhancing its brand influence, and capitalising on the growth trend of the new energy vehicle market in China’s lower-tier cities.

Stock Information:

At present, Changjiu Group owns two listed companies, Changjiu Holdings LTD.(6959.HK) and Changjiu Logistics(603569.SH), and as a wholly-owned subsidiary of Changjiu Logistics, Changjiu Germany focuses on providing high-quality logistics services for European customers.

 

 

Strategic Co-operation | Changjiu Logistics and Trunk Technology Reach Strategic Co-operation

Strategic Co-operation | Changjiu Logistics and Trunk Technology Reach Strategic Co-operation

04 Jan 2024, 09:16 a.m. EDT

On 3rd January, Changjiu Logistics and Trunk Technology, China’s leading self-driving truck service provider, officially reached a strategic cooperation. Yan Chao, the rotating president of Changjiu Logistics, and Zhang Tianlei, the chairman and CEO of Trunk Technology, attended the signing ceremony of this strategic cooperation.

Based on the consensus of long-term development strategy, Changjiu Logistics and Trunk Technology have reached this cooperation with the vision of building and promoting the development of China’s intelligent logistics and transport systems. According to the agreement, the co-operation will deepen the combination of Changjiu Logistics’ integrated logistics solutions and Tunk Technology’s self-driving freight transport system and closely cooperate in self-driving data algorithms, intelligent transport line operations, new energy heavy-duty trucks, etc., giving full play to the leading technology and resource advantages of each party in their respective fields, and jointly promoting the promotion of scenario application in a sustainable manner. Among them, Trunk Technology will take intelligent trucks in high-speed trunk logistics and logistics hubs as carriers and give full play to its rich technical achievements and mature product advantages in the field of self-driving heavy-duty trucks; and Changjiu Logistics, as a leading third-party automobile logistics enterprise in China, will give full play to its technological advantages in the areas of trunk transport data, new energy equipment manufacturing, and data operation of power batteries. In the future, both parties will work together to build intelligent logistics and transport businesses, promote the industrialisation of vehicle and road collaboration technology in logistics and transport, and provide strong technical support and infrastructure protection for the country to build intelligent transport and intelligent logistics industry chain. TrunkTechnology is committed to the research, development and application of L4-level artificial intelligence truck technology to create a safer, smarter and more efficient scientific and technological transport. Based on the strategic route of “technology+product+operation”, Trunk Technology has successfully launched the full-stack self-developed “AiTrucker” L4 automatic driving system, which has been applied to more than one mainstream commercial vehicle brands, such as FAW Jiefang, China National Heavy Duty Truck Corporation (CNHTC), XCMG, Sany Trucks, and Beiqi Foton. “AiTrucker” is used for many well-known commercial vehicle brands such as FAW Jiefang, China National Heavy Duty Truck, XCMG, Sany Heavy Duty Truck, and BAIC Foton.Up to now, hundreds of intelligent trucks are in commercial operation nationwide, achieving large-scale layout and landing in many domestic logistics hubs and highways. Trunk Technology has achieved a significant milestone this year by obtaining the Tianjin Intelligent Networked Vehicle Road Test Notice and completing the mutual recognition of Beijing and Tianjin test licences. As a result, the company has been formally approved to conduct regular testing and demonstration in the Beijing Intelligent Networked Vehicle Policy Pioneer Area Road. This achievement paves the way for Trunk Technology to be the first to demonstrate smart truck transportation based on the L4 level of self-driving capability with logistics customers in real open urban road scenarios.

Zhang Tianlei, CEO of Trunk Technology, said that the change of the logistics and transport industry has become a foregone conclusion, and more and more self-driving trucks are driving to the highway, accelerating the scale of commercialisation and mass production to promote, which has become the industry’s basic consensus at present. Trunk Technology, as a technology company focusing on the research, development, and application of self-driving truck technology, is using self-driving trucks as a booster to accelerate the construction of high-speed trunkline intelligent logistics, release technological capacity, and build a networked artificial intelligence transport system, thus realising cost reduction and efficiency increases. Meanwhile, with the rich business scenario data accumulated by Changjiu Logistics in the process of business operation and its advantages in new energy equipment manufacturing, power battery data operation, etc., we believe that this cooperation will surely promote the development of the intelligent transport industry together and help China’s intelligent networked automobile industry steadily rank in the first echelon of the world. Yan Chao, President-in-Office of Changjiu Logistics, said that as a modern service enterprise capable of providing comprehensive logistics solutions for the automotive industry, Changjiu Logistics has accumulated a large amount of data on trunk transport, driver driving, and active safety in its vehicle business, which is a high-quality machine learning material for intelligent driving, and at the same time, trunk transport is also one of the best scenarios for the commercialisation of intelligent driving technology. At present, Changjiu Logistics has been ploughing into automotive logistics for many years, serving more than 60 automotive brands, and its domestic business network covers 18 provinces with more than 90 shipping outlets, which gives it a leading edge in terms of data coverage and extensiveness. In terms of its international business, Changjiu Logistics has acquired the TIR qualification this year, which further expands its capacity of cross-border highway service. Trunk Technology, as a leader in the self-driving industry, has already put more than 100 self-driving trucks into actual operation in real-life scenarios. With this cooperation, Changjiu Logistics and Trunk Technology will give full play to their respective advantages, carry out exchanges and cooperation in the directions of driving data and technical algorithms, and jointly enhance the ability of resource integration and business expansion so as to better serve and promote the upgrading of China’s new energy automobile industry. For enterprises engaged in logistics transport, the freight cost of drivers accounts for about 30% of the total cost. Cost reduction and efficiency have always been pain points in the industry, and for the intelligent driving industry, enough machine learning material is also the key to enhancing automatic driving ability. This strong alliance is undoubtedly a win-win “two-way running to”. In the future, Changjiu Logistics will continue to deepen its partnership with Trunk Technology to jointly build an intelligent logistics and transport business, promote cost reduction and efficiency in logistics and transport, and jointly create a benchmark project for logistics application scenarios of new energy commercial vehicles.

International Business News | Heilongjiang Province, the first domestic brand of new energy commercial vehicles in the smooth departure of the China Express

International Business News | Heilongjiang Province, the first domestic brand of new energy commercial vehicles in the smooth departure of the China Express

Dec 29, 2023, 13:15 p.m. EDT

On December 18th, HAO International Logistics Co., Ltd. (a joint venture company in which Changjiu Logistics participates) launched the first special train for domestic new energy vehicles in Heilongjiang Province. This remarkable achievement comes after the recent opening of the China Express, exported from Tongjiang on July 28th, which has paved the way for HAO to establish its new energy vehicle transport.

China Customs data reveals that China’s total automobile exports, including chassis, reached 4,762,000 units from January to November, marking a significant increase of 59.8%. This surge has positioned China as the world’s largest auto exporter. The remarkable growth of China’s auto exports can be attributed to its robust logistics protection system. HAO has proactively engaged with enterprises to comprehensively understand their needs, tailoring transport programs based on detailed specifications such as vehicle type, weight, and size. This proactive approach is instrumental in establishing an efficient and expedited international logistics channel for the export of domestic new energy vehicles.

 

“We have joined hands with HAO International Logistics Co., Ltd. and China Railway Container Transport Co. ,Ltd. to launch a ‘whole chain, one-stop’ service to make the processes of receiving and inspecting vehicles, booking for the liner, export customs clearance, and liner transport more convenient and efficient.” Meng Yang, deputy director of Harbin International Container Centre Station, said.

In the provincial Department of Commerce, City Bureau of Commerce, China Railway Harbin Bureau, and other leaders at all levels of strong support, the company continues to play the advantages of the liner platform and go all out to grasp the volume of trade with Russia to save and promote the incremental increase for the development of foreign trade to inject a strong impetus. HAO International Logistics will be normalised in the future to run through the Tongjiang inbound and outbound routes, to overcome the high transit costs and other problems, and continue to East China, South China, and North China’s car enterprises export trade into Harbin and continue to extend the industrial chain. In-depth implementation of the “One Belt, One Road” in the new era to promote the comprehensive revitalisation of the Northeast Symposium and visit to Heilongjiang Province, the important instructions of the speeches, and actively implement the city of Harbin to open up to the north of the work of the deployment.

Company News | Changjiu Logistics and Fusheng Auto Ecology Signed a Strategic Cooperation Agreement

Company News | Changjiu Logistics and Fusheng Auto Ecology Signed a Strategic Cooperation Agreement

Dec 27, 2023, 13:50 p.m. EDT

On 14 December 2023, Beijing Changjiu Logistics Co., Ltd (hereinafter referred to as “Changjiu Logistics” and “the Company”) and Changchun Fusheng Auto Eco Technology Group Co.

Bo Shijiu, Chairman of Changjiu Logistics, and Yan Chao, Rotating President of Changjiu Logistics, Jing Youth, President of Fusheng Auto Ecology, and Cao Weihua, Executive Vice President of Changjiu Logistics, and their teams attended the signing ceremony together. Under the witness of Mr Bo and Mr Jing, Mr Yan and Mr Cao completed the signing of this strategic cooperation agreement as the signing representatives. Both parties will give full play to their professionalism and advantageous resources in their respective fields, and carry out co-operation in multiple fields such as new energy automobile field, automobile logistics field, and automobile after-market. Fusheng Auto Eco is a subsidiary company of FAW Fusheng Group, focusing on auto spare parts logistics and automotive aftermarket. It has a diversified business structure of warehousing, transport, packaging, logistics equipment, automobile modification, auto parts trade, automobile cultural creativity, etc. It is committed to becoming an expert enterprise in automobile spare parts logistics and a famous brand in after-market segments. The conclusion of this strategic cooperation will help the company to further expand its services in the automotive industry chain. At present, Changjiu Logistics has initially constructed the power battery secondary utilisation business, and Fusheng Logistics and Changjiu Logistics will jointly develop value-added business and boost development in the field of power battery secondary utilisation; around the field of automotive logistics, the two sides will jointly carry out the following business in the areas of warehousing, transportation, packaging, forklift leasing and digital intelligence. “In the field of automotive logistics, the two sides will jointly carry out business cooperation in the areas of warehousing, transportation, packaging, forklift leasing and digital intelligence; in the automotive aftermarket, the two sides will jointly develop business in the areas of parts and components trade, automobile modification, cultural creativity, etc., and explore the development opportunities in the field of the automotive aftermarket; and with the deepening of the two sides’ co-operation, the two sides will subsequently explore the possibility of co-operation in more areas.

With the rapid development of the new energy vehicle industry, the automotive industry chain is also undergoing drastic changes, and the resulting demand also puts forward new requirements for the service capacity of enterprises. The strong alliance with Fusheng Auto Ecology will further strengthen the capacity building of Changjiu Logistics in the markets of new energy vehicles and parts, ladder utilisation, logistics and aftermarket, etc. The two parties will form a complementary partnership to help China’s automotive industry flourish and achieve the goal of “double carbon” at an early date. We will discuss the possibility of cooperation in more areas. (“Double Carbon”: China plans to reach peak carbon use by 2030 and become carbon neutral by 2060. )