Jayud Global Logistics Achieves Profitability with Revenue Growth in First Half of 2025
Laying the foundation for a major revenue surge anticipated in FY2026
SHENZHEN, China, Oct. 15, 2025 (GLOBE NEWSWIRE) — Jayud Global Logistics Limited (NASDAQ: JYD) (“Jayud” or the “Company”), a leading end-to-end supply chain solution provider based in Shenzhen, specializing in cross-border logistics, today announced its unaudited financial results for the six months ended June 30, 2025.
Financial Highlights
- Total revenues increased 3.7% year-over-year to $39.2 million, as a result of the significant increase of $2.1 million in international trading business.
- Net income was $0.3 million, a notable recovery from the $2.7 million net loss recorded in the six months ended June 30, 2024.
- Basic and diluted earnings per share was $0.003, compared to a loss per share of $0.12 in the prior-year period.
- Total assets grew to $26.5 million as of June 30, 2025, up from $25.7 million as of December 31, 2024.
- Cash and cash equivalents stood at $4.2 million as of June 30, 2025.
Operational Highlights
- In March 2025, Jayud initiated its exclusive chartered route between Fuzhou, China, and Jakarta, Indonesia, with the inaugural flight on March 21, 2025. Operating three weekly flights via Boeing 737-800 (18-ton capacity), the service complies with IATA guidelines for lithium-ion battery transport, supporting Southeast Asia’s e-commerce growth through integrated logistics solutions.
- In June 2025, Jayud received $4.2 million of subsidy from the Shenzhen Transportation Bureau for its 2022-2023 Shenzhen-Clark and Shenzhen-Davao charter routes.
“These results reflect steady progress in our core operations amid a dynamic global trade environment,” stated Mr. Xiaogang Geng, Chairman and Chief Executive Officer of Jayud Global Logistics Limited. “The year-over-year revenue growth and return to profitability underscore the effectiveness of our focus on high-margin cross-border services and operational efficiencies. Key initiatives, including the receipt of substantial government support for our charter flight operations and the launch of our exclusive Fuzhou-Jakarta air cargo route, further bolster this progress. Looking ahead, we remain optimistic about achieving revenue growth for the full year, supported by sustained demand in e-commerce and international trading segments. We are also actively pursuing future collaborations with well-known industry partners to expand the reach of our best-in-class solutions and create new avenues for growth.”
Financial Results for the Six Months ended June 30, 2025
Revenues for the first six months of 2025 were driven by increased demand in international trading and e-commerce logistics, with the international trading segment accounting for 42.9% of total revenues.
Cost of revenues decreased 4.5% for the six months ended June 30, 2025. A primary factor in this reduction was the receipt of a RMB 30,258,086 (approximately USD 4.2 million) government subsidy from the Shenzhen Transportation Bureau in June 2025, pertaining to two charter flight routes operated during 2022-2023. The Company anticipates receiving a certain amount of 2023-2024 government subsidy in future.
Gross profit improved significantly, reflecting enhanced cost controls and a shift toward value-added services such as supply chain optimization and bonded warehousing. Operating expenses were managed effectively, enabling the Company to deliver a positive net income of $0.3 million—a clear indicator of improved financial health compared to the prior-year loss.
Cash flows reflected seasonal fluctuations in working capital, including higher accounts receivable balances that supported revenue expansion. Investing activities utilized $0.2 million primarily for property, equipment, and intangible assets to bolster logistics infrastructure. Financing activities resulted in net cash usage of $0.6 million, driven by debt repayments offset by new borrowings.
Capital expenditures totaled $0.2 million in the first six months of 2025, with a focus on logistics equipment and IT system enhancements to support anticipated business growth.
Balance Sheet Overview
As of June 30, 2025, current assets totaled $20.0 million, representing a 2.0% increase from $19.6 million at December 31, 2024. Non-current assets increased to $6.5 million, driven by strategic capital investment in fixed assets and intangible assets, mainly software. This reflects the Company’s ongoing investment in its operational infrastructure and technological capabilities. Total liabilities were $15.1 million, with short-term borrowings at $2.0 million. Shareholders’ equity attributable to Jayud stood at $12.8 million.
About Jayud Global Logistics Limited
Jayud Global Logistics Limited is one of the leading Shenzhen-based end-to-end supply chain solution providers in China, focusing on cross-border logistics services. The Company benefits from the unique geographical advantages of providing a high degree of support for ocean, air, and overland logistics. The Company has established a global operation nexus featuring logistic facilities throughout major transportation hubs in China and globally, with footprints in 12 provinces in Mainland China and 16 countries across six continents. Jayud offers a comprehensive range of cross-border supply chain solutions, including freight forwarding, supply chain management, and other value-added services. With its strong service capabilities and research and development capabilities in proprietary IT systems, the Company provides customized and efficient logistics solutions and develops long-standing customer relationships. For more information, please visit the Company’s website: https://ir.jayud.com.
Forward-Looking Statements
Certain statements in this announcement are forward-looking statements. These forward-looking statements involve known and unknown risks and uncertainties and are based on the Company’s current expectations and projections about future events that the Company believes may affect its financial condition, results of operations, business strategy, and financial needs. Investors can identify these forward-looking statements by words or phrases such as “may”, “will”, “expect”, “anticipate”, “aim”, “estimate”, “intend”, “plan”, “believe”, “is/are likely to”, “potential”, “continue” or other similar expressions. The Company undertakes no obligation to update or revise publicly any forward-looking statements to reflect subsequent occurring events or circumstances, or changes in its expectations, except as may be required by law. Although the Company believes that the expectations expressed in these forward-looking statements are reasonable, it cannot assure you that such expectations will turn out to be correct, and the Company cautions investors that actual results may differ materially from the anticipated results and encourages investors to review other factors that may affect its future results in the Company’s registration statement and other filings with the SEC.
For more information, please contact:
Jayud Global Logistics Limited
Investor Relations Department
Email: ir@jayud.com
Investor Relations Contact:
Matthew Abenante, IRC
President
Strategic Investor Relations, LLC
Tel: 347-947-2093
Email: matthew@strategic-ir.com
***Tables Follow***
| JAYUD GLOBAL LOGISTICS LIMITED INTERIM CONDENSED CONSOLIDATED BALANCE SHEETS | ||||||||||||
| December 31, | June 30, 2025 | |||||||||||
| 2024 | (Unaudited) | |||||||||||
| RMB | RMB | US$ | ||||||||||
| Assets | ||||||||||||
| Current assets | ||||||||||||
| Cash | 36,996,422 | 30,143,886 | 4,210,863 | |||||||||
| Restricted cash | 103,489 | – | – | |||||||||
| Accounts receivable, net | 38,696,583 | 67,987,919 | 9,497,377 | |||||||||
| Accounts receivable – related parties | 249,925 | 451,609 | 63,086 | |||||||||
| Contract assets | 3,441,959 | 3,551,078 | 496,058 | |||||||||
| Prepaid expenses and other current assets, net | 33,915,774 | 28,631,047 | 3,999,531 | |||||||||
| Prepaid expenses and other current assets – related parties | 6,696,004 | – | – | |||||||||
| Other receivable – related parties | 20,273,420 | 11,418,978 | 1,595,141 | |||||||||
| Loan receivable – related parties | – | 935,906 | 130,739 | |||||||||
| Total current assets | 140,373,576 | 143,120,423 | 19,992,795 | |||||||||
| Non-current assets | ||||||||||||
| Long term investments | 20,633,148 | 20,770,979 | 2,901,542 | |||||||||
| Property and equipment, net | 15,657,880 | 16,582,800 | 2,316,486 | |||||||||
| Intangible asset, net | 2,086,712 | 2,220,901 | 310,242 | |||||||||
| Operating right-of-use assets, net | 1,881,535 | 2,232,626 | 311,880 | |||||||||
| Deferred offering costs | – | 110,958 | 15,500 | |||||||||
| Deferred tax assets, net | 3,733,020 | 4,365,138 | 609,775 | |||||||||
| Total non-current assets | 43,992,295 | 46,283,402 | 6,465,425 | |||||||||
| TOTAL ASSETS | 184,365,871 | 189,403,825 | 26,458,220 | |||||||||
| LIABILITIES AND SHAREHOLDERS’ EQUITY | ||||||||||||
| Current liabilities | ||||||||||||
| Short-term borrowings | 10,497,682 | 14,253,311 | 1,991,075 | |||||||||
| Current maturities of a long-term borrowing | – | 40,000 | 5,588 | |||||||||
| Loans payable – related parties | 2,233,700 | 40,000 | 5,588 | |||||||||
| Loans payable – shareholders | 8,655,800 | – | – | |||||||||
| Accounts payable – third parties | 44,452,581 | 40,290,919 | 5,628,321 | |||||||||
| Accounts payable – related parties | 242,734 | 11,730,867 | 1,638,710 | |||||||||
| Contract liabilities | 4,080,621 | 10,039,099 | 1,402,383 | |||||||||
| Accrued expenses and other current liabilities | 12,084,446 | 5,691,843 | 795,106 | |||||||||
| Other payable – related parties | 789,560 | 627,993 | 87,726 | |||||||||
| Other payable – shareholders | 613,820 | – | – | |||||||||
| Taxes payable | 11,698,309 | 11,506,860 | 1,607,418 | |||||||||
| Operating lease liabilities – current | 812,669 | 1,151,799 | 160,897 | |||||||||
| Total current liabilities | 96,161,922 | 95,372,691 | 13,322,812 | |||||||||
| Non-current liabilities | ||||||||||||
| Long-term borrowings | – | 3,960,000 | 553,181 | |||||||||
| Operating lease liabilities – non-current | 1,898,004 | 1,647,201 | 230,101 | |||||||||
| Other payables – shareholders -non-current | 6,937,500 | 6,937,500 | 969,114 | |||||||||
| Total non-current liabilities | 8,835,504 | 12,544,701 | 1,752,396 | |||||||||
| Total liabilities | 104,997,426 | 107,917,392 | 15,075,208 | |||||||||
| Commitments and contingencies | ||||||||||||
| Shareholders’ deficit | ||||||||||||
| Class A Ordinary shares (par value of US$ 0.0001 per share; 480,000,000 Class A ordinary shares authorized and 88,408,017 Class A ordinary shares issued and outstanding as of December 31, 2024 and 88,426,696 Class A ordinary shares issued and outstanding as of June 30, 2025.) | 62,468 | 62,482 | 8,728 | |||||||||
| Class B Ordinary shares (par value of US$ 0.0001 per share; 20,000,000 Class B ordinary shares authorized and 5,409,600 class B shares issued and outstanding as of December 31, 2024 and June 30, 2025.) | 3,368 | 3,368 | 470 | |||||||||
| Additional paid in capital | 217,527,319 | 217,527,305 | 30,386,850 | |||||||||
| Statutory reserves | 434,047 | 446,895 | 62,428 | |||||||||
| Accumulated deficit | (126,955,513 | ) | (125,179,254 | ) | (17,486,555 | ) | ||||||
| Accumulated other comprehensive loss | (812,156 | ) | (1,172,408 | ) | (163,776 | ) | ||||||
| Total Jayud Global Logistics Limited shareholders’ deficit | 90,259,533 | 91,688,388 | 12,808,145 | |||||||||
| Non-controlling interests | (10,891,088 | ) | (10,201,955 | ) | (1,425,133 | ) | ||||||
| Total shareholders’ deficit | 79,368,445 | 81,486,433 | 11,383,012 | |||||||||
| TOTAL LIABILITIES AND SHAREHOLDERS’ DEFICIT | 184,365,871 | 189,403,825 | 26,458,220 | |||||||||
| JAYUD GLOBAL LOGISTICS LIMITED INTERIM CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS AND COMPREHENSIVE LOSS | ||||||||||||
| For the Six Months Ended June 30, | ||||||||||||
| 2024 | 2025 | |||||||||||
| (Unaudited) | (Unaudited) | |||||||||||
| RMB | RMB | US$ | ||||||||||
| Revenues – freight forwarding | 162,734,262 | 155,875,351 | 21,774,558 | |||||||||
| Revenues – freight forwarding – related parties | 609,612 | 1,978,424 | 276,370 | |||||||||
| Revenues – supply chain management and others | 106,622,319 | 122,507,419 | 17,113,321 | |||||||||
| Revenues – supply chain management and others – related parties | 641,316 | 267,111 | 37,313 | |||||||||
| Total Revenues | 270,607,509 | 280,628,305 | 39,201,562 | |||||||||
| Cost of revenues -freight forwarding | (139,288,357 | ) | (112,165,665 | ) | (15,668,659 | ) | ||||||
| Cost of revenues -freight forwarding – related parties | (33,130,090 | ) | (28,350,905 | ) | (3,960,398 | ) | ||||||
| Cost of revenues – supply chain management and others | (100,901,129 | ) | (120,465,033 | ) | (16,828,016 | ) | ||||||
| Total Cost of revenues | (273,319,576 | ) | (260,981,603 | ) | (36,457,073 | ) | ||||||
| Gross (loss) / profit | (2,712,067 | ) | 19,646,702 | 2,744,489 | ||||||||
| Operating expenses | ||||||||||||
| Selling expenses | (3,850,752 | ) | (4,443,044 | ) | (620,658 | ) | ||||||
| Reversal of credit losses | 1,840,875 | 3,282,461 | 458,534 | |||||||||
| Impairment charges on long-lived assets | (963,867 | ) | – | – | ||||||||
| Lease termination (loss) / gain | (310,673 | ) | 107,025 | 14,951 | ||||||||
| General and administrative expenses | (11,844,976 | ) | (15,518,954 | ) | (2,167,876 | ) | ||||||
| Research and development expenses | (502,278 | ) | (625,657 | ) | (87,399 | ) | ||||||
| Total operating expenses | (15,631,671 | ) | (17,198,169 | ) | (2,402,448 | ) | ||||||
| Operating (loss) / profit | (18,343,738 | ) | 2,448,533 | 342,041 | ||||||||
| Other expenses | ||||||||||||
| Other income, net | 74,482 | 414,160 | 57,855 | |||||||||
| Foreign exchange loss, net | (464,790 | ) | (1,422,781 | ) | (198,751 | ) | ||||||
| Financial (expenses) / income, net | (1,252,481 | ) | 101,178 | 14,134 | ||||||||
| Total other expenses, net | (1,642,789 | ) | (907,443 | ) | (126,762 | ) | ||||||
| (Loss) / income before income tax expense | (19,986,527 | ) | 1,541,090 | 215,279 | ||||||||
| Income tax benefit | 672,393 | 586,878 | 81,982 | |||||||||
| Share of income of equity method investees, net of tax of nil | – | 180,815 | 25,258 | |||||||||
| Net (loss) / income | (19,314,134 | ) | 2,308,783 | 322,519 | ||||||||
| Less: Net (loss) / income attributable to non-controlling interests | (1,379,207 | ) | 519,676 | 72,595 | ||||||||
| Net (loss) / income attributable to the Jayud Global Logistics Limited’s ordinary shareholders | (17,934,927 | ) | 1,789,107 | 249,924 | ||||||||
| Net (loss) / income | (19,314,134 | ) | 2,308,783 | 322,519 | ||||||||
| Foreign currency translation adjustment, net of tax | (1,329,500 | ) | (360,252 | ) | (50,324 | ) | ||||||
| Total comprehensive (loss) / income | (20,643,634 | ) | 1,948,531 | 272,195 | ||||||||
| Less: total comprehensive (loss) / income attributable to non-controlling interest | (1,379,207 | ) | 519,676 | 72,595 | ||||||||
| Total comprehensive (loss) / income attributable to Jayud Global Logistics Limited’s ordinary shareholders | (19,264,427 | ) | 1,428,855 | 199,600 | ||||||||
| Net (loss) / income per share | ||||||||||||
| Basic and diluted | (0.84 | ) | 0.02 | 0.005 | ||||||||
| Weighted average shares | ||||||||||||
| Basic and diluted | 21,352,223 | 93,826,802 | 93,826,802 | |||||||||
| JAYUD GLOBAL LOGISTICS LIMITED INTERIM CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS | ||||||||||||
| For the Six Months Ended June 30, | ||||||||||||
| 2024 | 2025 | |||||||||||
| (Unaudited) | (Unaudited) | |||||||||||
| RMB | RMB | US$ | ||||||||||
| Cash flows from operating activities: | ||||||||||||
| Net (loss) / income | (19,314,134 | ) | 2,308,783 | 322,519 | ||||||||
| Adjustments to reconcile net income to net cash provided by (used in) operating activities: | ||||||||||||
| Provision for (reversal of) credit losses | (1,840,875 | ) | (3,282,461 | ) | (458,534 | ) | ||||||
| Lease termination loss | 310,673 | (107,025 | ) | (14,951 | ) | |||||||
| Depreciation and amortization | 242,022 | 540,851 | 75,553 | |||||||||
| Amortization of operating lease right-of-use asset | 2,565,585 | 352,998 | 49,311 | |||||||||
| Impairment losses of property and equipment | 963,867 | – | – | |||||||||
| Investment losses/gain | 33,813 | (224,015 | ) | (31,293 | ) | |||||||
| Gain from disposal of subsidiaries | – | (7,036 | ) | (983 | ) | |||||||
| Deferred tax benefit | (920,680 | ) | (632,118 | ) | (88,302 | ) | ||||||
| Changes in operating assets and liabilities | ||||||||||||
| Accounts receivable, net | (3,464,994 | ) | (28,113,666 | ) | (3,927,258 | ) | ||||||
| Accounts receivable – related parties | (260,010 | ) | (201,684 | ) | (28,174 | ) | ||||||
| Contract assets | (798,100 | ) | 2,041,085 | 285,123 | ||||||||
| Prepaid expenses and other current asset, net | 3,753,560 | 5,239,314 | 731,891 | |||||||||
| Prepaid expenses – a related party | (260,513 | ) | 6,696,004 | 935,379 | ||||||||
| Others receivable – related parties | – | 8,854,442 | 1,236,896 | |||||||||
| Accounts payable | 894,174 | (4,161,662 | ) | (581,351 | ) | |||||||
| Accounts payable – related parties | 11,574,779 | 11,488,133 | 1,604,802 | |||||||||
| Contract liabilities | (2,165,606 | ) | 5,958,478 | 832,352 | ||||||||
| Accrued expenses and other current liabilities | (2,081,469 | ) | (6,392,603 | ) | (892,996 | ) | ||||||
| Other payable – shareholders | (19,016 | ) | (613,820 | ) | (85,746 | ) | ||||||
| Other payable – related parties | (2,704 | ) | (136,074 | ) | (19,008 | ) | ||||||
| Tax payable | 404,530 | (191,449 | ) | (26,744 | ) | |||||||
| Operating lease liabilities | (4,255,704 | ) | (508,737 | ) | (71,067 | ) | ||||||
| Net cash used in operating activities | (14,640,802 | ) | (1,092,262 | ) | (152,581 | ) | ||||||
| Cash flows from investing activities: | ||||||||||||
| Cash acquired from acquisition of subsidiaries* | 144,431 | – | – | |||||||||
| Purchase of property, equipment and intangible assets | (611,010 | ) | (1,599,960 | ) | (223,502 | ) | ||||||
| Net cash used in investing activities | (466,579 | ) | (1,599,960 | ) | (223,502 | ) | ||||||
| Cash flows from financing activities: | ||||||||||||
| Proceeds from short-term borrowings | 17,743,710 | 20,753,845 | 2,899,149 | |||||||||
| Proceeds from a long-term borrowing | – | 4,000,000 | 558,768 | |||||||||
| Repayments of short-term borrowings | (21,910,317 | ) | (16,983,674 | ) | (2,372,485 | ) | ||||||
| Repayment of a long-term borrowing | (300,000 | ) | – | – | ||||||||
| Proceeds from loans provided by shareholders | 15,508,245 | – | – | |||||||||
| Proceeds from loans provided by related parties | 3,000,000 | 40,000 | 5,588 | |||||||||
| Loans repayment to shareholders | – | (8,655,800 | ) | (1,209,147 | ) | |||||||
| Loans repayment to related parties | (4,000,000 | ) | (2,233,700 | ) | (312,030 | ) | ||||||
| Loans to related parties | – | (935,906 | ) | (130,739 | ) | |||||||
| Payments for deferred offering costs | (513,201 | ) | (110,958 | ) | (15,500 | ) | ||||||
| Capital injection by a non-controlling interest | 20,000 | 151,000 | 21,094 | |||||||||
| Net cash provided by financing activities | 9,548,437 | (3,975,193 | ) | (555,302 | ) | |||||||
| Effect of exchange rate changes | 30,607 | (288,610 | ) | (40,317 | ) | |||||||
| Net decrease in cash and cash equivalents and restricted cash | (5,528,337 | ) | (6,956,025 | ) | (971,702 | ) | ||||||
| Total cash and cash equivalents and restricted cash at beginning of the year | 26,605,028 | 37,099,911 | 5,182,565 | |||||||||
| Total cash and cash equivalents at end of the year | 21,076,691 | 30,143,886 | 4,210,863 | |||||||||
| Supplemental disclosure of cash flow information: | ||||||||||||
| Income tax paid | 172,377 | 90,670 | 12,666 | |||||||||
| Interest expense paid | 645,490 | 374,713 | 52,344 | |||||||||
| Supplemental non-cash investing and financing information: | ||||||||||||
| Obtaining right-of-use assets in exchange for operating lease liabilities | 7,203,051 | 704,089 | 98,356 | |||||||||
