エドガーで原本を確認する
UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 6-K
REPORT OF FOREIGN PRIVATE ISSUER
PURSUANT TO RULE 13a-16 OR 15d-16
UNDER THE SECURITIES EXCHANGE ACT OF 1934
For the month of September 2023
Commission File Number: 001-41656
Jayud Global Logistics Limited
(Exact name of registrant as specified in its charter)
4th Floor, Building 4,
Shatoujiao Free Trade Zone,
Yantian District, Shenzhen,
People’s Republic of China
(Address of principal executive offices)
Indicate by check mark whether the registrant files or will file annual reports under cover of Form 20-F or Form 40-F.
Form 20-F ☒ Form 40-F ☐
EXPLANATORY NOTE
Jayud Global Logistics Limited, a Cayman Islands exempted company (the “Company”) is furnishing this Form 6-K to provide results for the six months ended June 30, 2023 in connection with the unaudited interim condensed consolidated financial statements for the six months ended June 30, 2023.
Exhibits Index
| Exhibit No. | Description | |
| 99.1 | Results for the Six Months Ended June 30, 2023 in Connection with the Unaudited Interim Condensed Consolidated Financial Statements for the Six Months Ended June 30, 2023 | |
| 101.INS | Inline XBRL Instance Document. | |
| 101.SCH | Inline XBRL Taxonomy Extension Schema Document. | |
| 101.CAL | Inline XBRL Taxonomy Extension Calculation Linkbase Document. | |
| 101.DEF | Inline XBRL Taxonomy Extension Definition Linkbase Document. | |
| 101.LAB | Inline XBRL Taxonomy Extension Label Linkbase Document. | |
| 101.PRE | Inline XBRL Taxonomy Extension Presentation Linkbase Document. | |
| 104 | Cover Page Interactive Data File (formatted as Inline XBRL and contained in Exhibit 101). |
SIGNATURE
Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized.
Date: September 1, 2023
| Jayud Global Logistics Limited | ||
| By: | /s/ Xiaogang Geng | |
| Name: | Xiaogang Geng | |
| Title: | Chief Executive Officer | |
3
Exhibit 99.1
Results for the Six Months
Ended June 30, 2023 in Connection with the Unaudited Interim
Condensed Consolidated Financial Statements for the Six Months Ended June 30, 2023
Results for the Six Months Ended June 30, 2023
Revenue
Our total revenue decreased by approximately RMB284.6 million, or 62.7%, from approximately RMB454.1 million for the six months ended June 30, 2022 to approximately RMB169.5 million (US$23.5 million) for the six months ended June 30, 2023. The decrease was mainly due to a decrease in the fee rates we charge for our freight forwarding services which was in line with a general decrease in the freight rates across the freight transportation industry, for both air freight and ocean freight.
Despite the significant economic headwinds faced in China, we had been able to expand our customer base in e-commerce-related logistics services during the six months ended June 30, 2023. Our customer base increased by 11.2% from 1,184 customers for the six months ended June 30, 2022 to 1,317 customers for the six months ended June 30, 2023. Among the new customers acquired for the six months ended June 30, 2023, 49.5% of them are relevant to e-commerce-related logistics services. With the expansion of our e-commerce-related logistics services, the percentage of revenue generated from e-commerce-related logistics services increased from 14.6% for the six months ended June 30, 2022 to 43.4% for the six months ended June 30, 2023.
Cost of Revenue
Our cost of revenue decreased by 59.8% from RMB423.2 million for the six months ended June 30, 2022 to RMB170.1 million (US$23.5 million) for the six months ended June 30, 2023.
Cost of freight charges, representing the main source of our cost of revenue, decreased by RMB229.1 million, or 60.3%, from approximately RMB380.2 million for the six months ended June 30, 2022 to approximately RMB151.1 million (US$20.9 million) for the six months ended June 30, 2023. The main components of freight charges were the freight and the delivery fees paid to third-party carriers.
Gross Profit/(loss)
Our gross profit decreased by RMB31.5 million, or 102.0%, from RMB30.9 million for the six months ended June 30, 2022 to a gross loss of RMB0.6 million (US$0.1 million) for the six months ended June 30, 2023 and our overall gross profit margin decreased from 6.8% to negative 0.4% mainly due to loss from warehousing services and chartered carrier transport.
Operating Expenses
Our operating expenses increased from RMB18.5 million for the six months ended June 30, 2022 to RMB23.9 million (US$3.3 million) for the six months ended June 30, 2023, representing a period-on-period increase of 29.2%. This increase was primarily attributable to (i) an increase of RMB2.1 million (US$0.3 million) in professional expenses for consulting and auditing services, (ii) an increase of RMB1.4 million (US$0.2 million) in expenses associated with the Company’s initial public offering and (iii) an increase of RMB1.2 million (US$0.2 million) in expenses associated with the lease termination loss.
Other income/(expenses), net
Our total other income/(expenses), net decreased by 172.7% from income of RMB2.2 million for the six months ended June 30, 2022 to expenses of RMB1.6 million (US$0.2 million) for the six months ended June 30, 2023. Other income/(expenses), net consisted of non-operating income/(expenses), foreign exchange gain/(loss) and interest expenses.
Net income/(loss)
As a result of the foregoing, our net income/(loss) decreased by RMB35.8 million, or 372.7%, from net income of RMB9.6 million for the six months ended June 30, 2022 to net loss of RMB26.2 million (US$3.6 million) for the six months ended June 30, 2023.
JAYUD GLOBAL LOGISTICS LIMITED
INTERIM CONDENSED CONSOLIDATED BALANCE SHEETS
|
As of December 31, |
As
of June 30, 2023 |
|||||||||||
| 2022 | (Unaudited) | |||||||||||
| RMB | RMB | US$ | ||||||||||
| Assets | ||||||||||||
| Current assets | ||||||||||||
| Cash | 27,939,170 | 16,650,244 | 2,304,277 | |||||||||
| Accounts receivable, net | 30,913,334 | 51,860,833 | 7,177,175 | |||||||||
| Accounts receivable - a related party | 1,676,016 | - | - | |||||||||
| Contract assets | 4,460,046 | 6,042,350 | 836,219 | |||||||||
| Prepaid expenses and other current assets, net | 12,210,990 | 19,383,550 | 2,682,547 | |||||||||
| Loan to a third party | - | 3,596,823 | 497,775 | |||||||||
| Total current assets | 77,199,556 | 97,533,800 | 13,497,993 | |||||||||
| Non-current assets | ||||||||||||
| Property and equipment, net | 2,613,264 | 3,202,803 | 443,246 | |||||||||
| Intangible asset, net | 757,959 | 1,903,246 | 263,396 | |||||||||
| Operating right-of-use assets, net | 31,403,688 | 16,966,571 | 2,348,054 | |||||||||
| Deferred offering costs | 6,326,130 | - | - | |||||||||
| Deferred tax assets | 21,563 | 21,563 | 2,984 | |||||||||
| Refundable deposits | 3,002,260 | 1,963,450 | 271,728 | |||||||||
| Prepayment for acquisition | 3,596,823 | - | - | |||||||||
| Restricted cash | 501,071 | 501,695 | 69,431 | |||||||||
| Total non-current assets | 48,222,758 | 24,559,328 | 3,398,839 | |||||||||
| TOTAL ASSETS | 125,422,314 | 122,093,128 | 16,896,832 | |||||||||
| LIABILITIES AND SHAREHOLDERS’ EQUITY | ||||||||||||
| Current liabilities | ||||||||||||
| Short-term borrowings | 14,800,000 | 18,500,000 | 2,560,270 | |||||||||
| Current maturities of long-term borrowing | 600,000 | 600,000 | 83,036 | |||||||||
| Loan payable - a shareholder | - | 2,000,000 | 276,786 | |||||||||
| Accounts payable - third parties | 18,147,774 | 21,084,567 | 2,917,956 | |||||||||
| Accounts payable - related parties | 7,425,184 | 16,337,417 | 2,260,984 | |||||||||
| Contract liabilities | 1,989,310 | 1,563,418 | 216,366 | |||||||||
| Accrued expenses and other current liabilities | 4,217,732 | 5,757,345 | 881,189 | |||||||||
| Other payables - related parties | 2,477,658 | 1,768,283 | 244,718 | |||||||||
| Other payables - shareholders | 6,980,836 | 6,956,371 | 962,713 | |||||||||
| Taxes payable | 2,130,433 | 234,460 | (51,965 | ) | ||||||||
| Operating lease liabilities - current | 18,079,265 | 8,148,420 | 1,127,684 | |||||||||
| Total current liabilities | 76,848,192 | 82,950,281 | 11,479,737 | |||||||||
| Non-current liabilities | ||||||||||||
| Long-term borrowing | 4,400,000 | 4,100,000 | 567,411 | |||||||||
| Operating lease liabilities – non-current | 13,276,535 | 8,858,202 | 1,225,913 | |||||||||
| Total non-current liabilities | 17,676,535 | 12,958,202 | 1,793,324 | |||||||||
| Total liabilities | 94,524,727 | 95,908,483 | 13,273,061 | |||||||||
| Commitments and contingencies | ||||||||||||
| Shareholders’ Equity | ||||||||||||
| Class A ordinary shares (par value of US$0.0001 per share; 480,000,000 Class A ordinary shares authorized and 13,590,400 and 14,942,623 Class A ordinary shares issued and outstanding as of December 31, 2022 and June 30, 2023, respectively.) | 8,830 | 9,880 | 1,367 | |||||||||
| Class B ordinary shares (par value of US$0.0001 per share; 20,000,000 Class B ordinary shares authorized and 6,409,600 class B shares issued and outstanding as of December 31, 2022 and June 30, 2023, respectively.) | 4,087 | 4,087 | 566 | |||||||||
| Additional paid in capital | 72,691,813 | 61,635,472 | 8,529,917 | |||||||||
| Subscription receivable | (34,823,000 | ) | - | - | ||||||||
| Statutory reserves | 4,651,141 | 3,575,076 | 494,765 | |||||||||
| Accumulated deficit | (9,025,668 | ) | (31,701,623 | ) | (4,387,282 | ) | ||||||
| Accumulated other comprehensive loss | (181,546 | ) | (2,434,162 | ) | (336,871 | ) | ||||||
| Total Jayud Global Logistics Limited shareholders’ equity | 33,325,657 | 31,088,730 | 4,302,462 | |||||||||
| Non-controlling interests | (2,428,070 | ) | (4,904,085 | ) | (678,691 | ) | ||||||
| Total shareholders’ equity | 30,897,587 | 26,184,645 | 3,623,771 | |||||||||
| TOTAL LIABILITIES AND SHAREHOLDERS’ EQUITY | 125,422,314 | 122,093,128 | 16,896,832 | |||||||||
JAYUD GLOBAL LOGISTICS LIMITED
INTERIM CONDENSED CONSOLIDATED STATEMENTS OF
OPERATIONS AND COMPREHENSIVE
INCOME (LOSS)
| For the Six Months Ended June 30, | ||||||||||||
| 2022 | 2023 | |||||||||||
| (Unaudited) | (Unaudited) | |||||||||||
| RMB | RMB | US$ | ||||||||||
| Revenues | 453,858,640 | 169,273,569 | 23,426,274 | |||||||||
| Revenues - related parties | 240,885 | 211,684 | 29,296 | |||||||||
| Total Revenues | 454,099,525 | 169,485,253 | 23,455,570 | |||||||||
| Cost of revenues | (329,776,581 | ) | (135,861,069 | ) | (18,802,218 | ) | ||||||
| Cost of revenues - related parties | (93,435,339 | ) | (34,233,328 | ) | (4,737,652 | ) | ||||||
| Total Cost of revenues | (423,211,920 | ) | (170,094,397 | ) | (23,539,870 | ) | ||||||
| Gross profit / (loss) | 30,887,605 | (609,144 | ) | (84,300 | ) | |||||||
| Operating expenses | ||||||||||||
| Selling expenses | (8,288,836 | ) | (6,373,345 | ) | (882,026 | ) | ||||||
| Lease termination loss | (1,197,921 | ) | (165,784 | ) | ||||||||
| General and administrative expenses | (9,223,117 | ) | (14,622,729 | ) | (2,023,683 | ) | ||||||
| Research and development expenses | (998,923 | ) | (1,755,063 | ) | (242,888 | ) | ||||||
| Total operating expenses | (18,510,876 | ) | (23,949,058 | ) | (3,314,381 | ) | ||||||
| Operating profit / (loss) | 12,376,729 | (24,558,202 | ) | (3,398,681 | ) | |||||||
| Other income/ (expenses) | ||||||||||||
| Other income/ (expenses), net | 99,901 | (241,469 | ) | (33,418 | ) | |||||||
| Foreign exchange gain/ (loss), net | 2,567,807 | (974,371 | ) | (134,846 | ) | |||||||
| Financial expenses, net | (500,445 | ) | (417,654 | ) | (57,800 | ) | ||||||
| Total other income/ (expenses), net | 2,167,263 | (1,633,494 | ) | (226,064 | ) | |||||||
| Income/ (loss) before income tax expense | 14,543,992 | (26,191,696 | ) | (3,624,745 | ) | |||||||
| Income tax expenses | (4,927,596 | ) | (36,339 | ) | (5,029 | ) | ||||||
| Net income / (loss) | 9,616,396 | (26,228,035 | ) | (3,629,774 | ) | |||||||
| Less: Net loss attributable to non-controlling interests | (536,719 | ) | (2,476,015 | ) | (342,663 | ) | ||||||
| Net income / (loss) attributable to the Jayud Global Logistics Limited’s ordinary shareholders | 10,153,115 | (23,752,020 | ) | (3,287,111 | ) | |||||||
| Net income / (loss) | 9,616,396 | (26,228,035 | ) | (3,629,774 | ) | |||||||
| Foreign currency translation adjustment, net of tax | (63,841 | ) | (2,452,762 | ) | (339,445 | ) | ||||||
| Total comprehensive income / (loss) | 9,552,555 | (28,680,797 | ) | (3,969,219 | ) | |||||||
| Less: total comprehensive loss attributable to non-controlling interest | (536,719 | ) | (2,476,015 | ) | (342,663 | ) | ||||||
| Total comprehensive income / (loss) attributable to Jayud Global Logistics Limited’s ordinary shareholders | 10,089,274 | (26,204,782 | ) | (3,626,556 | ) | |||||||
| Net income / (loss) per share | ||||||||||||
| 0.59 | (1.16 | ) | (0.16 | ) | ||||||||
| Weighted average shares | ||||||||||||
| 17,200,000 | 20,494,426 | 20,494,426 | ||||||||||
3