Uncertainty over recovery of demand for passenger air travel, in particular business travel, to pre-pandemic levels means air carriers’ operations and financial stability may be adversely affected long term.

filing / Apr 20, 2026 / receipt

due to the cost control of custom brokerage services. Operating expenses Our operating expenses decreased from RMB63.9 million for the year ended December 31, 2023 to RMB40.9 million for the year ended December 31, 2024, representing a year-over-year decrease of 35.9%.

filing / Apr 20, 2026 / receipt

Due to our cost reduction strategy and more strict risk management for 2024, our operating expenses and bad debt expenses

filing / Apr 20, 2026 / receipt

affected having to cancel flights due to travel restrictions resulting in dramatic drops in revenues, historical losses and liquidity

filing / Apr 20, 2026 / receipt

Our capital expenditures consisted primarily of expenditures related to the expansion of our new offices and logistics equipment.

filing / Apr 20, 2026 / receipt

Expand our global distribution network through investments and/or acquisitions in the U.S. for warehouse establishment

ir_statement / Sep 15, 2026 / receipt

Recent investment: 52.0% equity interest in Shenzhen Jayud Yuncang Technology Co., Ltd. to implement and operate distributed mini warehouses, which will enable our reach to the Southeast Asian market

ir_statement / Sep 15, 2026 / receipt

Expanded U.S. operations through strategic acquisitions in California and Georgia, adding significant warehousing and logistics assets

ir_statement / Sep 15, 2026 / receipt

Launched an exclusive chartered air cargo service between Fuzhou, China, and Jakarta, Indonesia, boosting dedicated air freight capacity.

ir_statement / Sep 15, 2026 / receipt

Received a $4.2 million government subsidy to support charter flight operations, reinforcing air cargo expansion.

ir_statement / Sep 15, 2026 / receipt