Jayud Global Logistics Achieves Profitability with Revenue Growth in First Half of 2025

Rhea-AI Summary

Jayud Global Logistics (NASDAQ: JYD) reported unaudited results for the six months ended June 30, 2025, with total revenue of $39.2 million, up 3.7% year‑over‑year, and net income of $0.3 million versus a $2.7 million loss in the prior-year period.

Key drivers included a 42.9% revenue share from international trading, the March 21, 2025 launch of an exclusive Fuzhou–Jakarta charter route, and a RMB 30,258,086 (~$4.2 million) subsidy from the Shenzhen Transportation Bureau received in June 2025. Cash and cash equivalents were $4.2 million and total assets were $26.5 million as of June 30, 2025.

Positive

• Net income recovered to $0.3M versus a $2.7M prior loss
• Government subsidy of RMB 30,258,086 (~$4.2M) received in June 2025
• International trading accounted for 42.9% of revenues
• Launched exclusive Fuzhou–Jakarta charter route on Mar 21, 2025

Negative

• Revenue growth of 3.7% may be modest for FY outlook
• Profitability benefited materially from a $4.2M subsidy
• Net cash usage from financing activities was $0.6M
• Short-term borrowings of $2.0M on the balance sheet

Insights

Equity Analyst

Jayud returned to small profitability in H1 2025, driven partly by a government subsidy and modest revenue growth.

Business mechanism: Jayud Global Logistics reported total revenues of $39.2 million, up 3.7% year‑over‑year, and a net income of $0.3 million for the six months ended June 30, 2025. The international trading segment accounted for 42.9% of revenues and operational moves include an exclusive Fuzhou–Jakarta charter launched on March 21, 2025, operating three weekly Boeing 737‑800 flights.

Dependencies and risks: cost of revenues declined 4.5%, a primary driver being a RMB 30,258,086 (approximately $4.2 million) subsidy received in June 2025 for prior charter routes. Cash and cash equivalents stood at $4.2 million, total assets at $26.5 million, total liabilities at $15.1 million, and shareholders' equity at $12.8 million. These facts show improved profitability but also material dependence on reported government support and seasonal working capital swings.

Concrete items to watch and horizon: monitor the company’s disclosure of any additional 2023–2024 government subsidy, full‑year revenue guidance and margin trends into FY2026, and utilization/scale of the Fuzhou–Jakarta route as it pertains to international trading and e‑commerce volumes over the next 6–12 months.

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

FAQ

What were Jayud (JYD) revenues and net income for H1 2025?

Jayud reported $39.2M revenue and $0.3M net income for the six months ended June 30, 2025.

How much government subsidy did Jayud (JYD) receive in June 2025?

Jayud received a RMB 30,258,086 (~$4.2M) subsidy from the Shenzhen Transportation Bureau in June 2025.

What portion of Jayud's (JYD) H1 2025 revenue came from international trading?

The international trading segment accounted for 42.9% of total revenues in H1 2025.

When did Jayud (JYD) start the Fuzhou–Jakarta air cargo route?

Jayud initiated the exclusive Fuzhou–Jakarta charter route with the inaugural flight on March 21, 2025.

How much cash did Jayud (JYD) hold as of June 30, 2025?

Cash and cash equivalents were reported at $4.2M as of June 30, 2025.