Shulou(Shulou.com)11/24 Report--

CTOnews.com January 10 news, Yuantong Express International announced yesterday that compared with the corresponding year in 2021, the group's 2022 earnings are expected to decline, while net profit will be significantly reduced. Compared with the net profit for the corresponding year in 2021, the group's net profit for that year is expected to decrease by about 50%.

According to Yuantong Express International, the sharp decrease in net profit was mainly due to the following: the surrounding economic recession caused by the conflict between Russia and Ukraine; the reduced demand for air and maritime services from customers in the air and maritime divisions; and in the second half of 2022, the decrease in freight charged to customers is due to an increase in the supply of air and sea freight space. As a result, the Group reduced its freight costs in order to remain competitive, resulting in a decline in gross profit.

As of CTOnews.com press time, Yuantong Express International Hong Kong shares fell 17.09 per cent to HK $2.28, with a total market capitalization of HK $958 million (about RMB 832 million).

In addition, Yuantong Express released its 2022 results on the same day, KuaiBao. According to the data, the revenue of Yuantong Express in 2022 was 53.546 billion yuan, an increase of 18.58 percent over the same period last year; the net profit belonging to shareholders of listed companies was 3.92 billion yuan, up 86.34 percent from the same period last year; and the net profit belonging to shareholders of listed companies after deducting non-recurring profits and losses was 3.775 billion yuan, an increase of 82.71 percent over the same period last year.

Yuantong Express pointed out that the company's operating profit, the total profit, the net profit belonging to the shareholders of the listed company, and the increase in net profit after deducting non-recurring profits and losses belonging to the shareholders of the listed company are mainly due to the improvement of product pricing power and business volume, and superimposed by the stable and good business environment.

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