Jayud Global Logistics Files 20-F/A Amendment
Ticker: JYD · Form: 20-F/A · Filed: Sep 23, 2024 · CIK: 1938186
Sentiment: neutral
Topics: amendment, annual-report, logistics
TL;DR
Jayud Global Logistics filed an amendment to its 2023 annual report, check for updates on freight ops.
AI Summary
Jayud Global Logistics Ltd filed an amendment (20-F/A) to its annual report for the fiscal year ended December 31, 2023. The filing, submitted on September 23, 2024, pertains to the company's operations in freight and cargo transportation.
Why It Matters
This amendment updates the company's annual report, providing crucial information for investors and regulators regarding its financial performance and operational status for the 2023 fiscal year.
Risk Assessment
Risk Level: medium — Amendments to annual reports can indicate a need for clarification or correction of previously filed information, which may warrant closer investor scrutiny.
Key Numbers
- 2023 — Fiscal Year End (The period covered by the annual report being amended.)
- 20240923 — Filing Date (The date the amendment was submitted to the SEC.)
Key Players & Entities
- Jayud Global Logistics Ltd (company) — Filer of the 20-F/A amendment
- 0001213900-24-081072 (filing_id) — Accession number for the filing
- 20231231 (date) — Conformed period of report
- 20240923 (date) — Filing date
- 4731 (sic_code) — Standard Industrial Classification for freight and cargo arrangement
FAQ
What specific information was amended in this 20-F/A filing?
The filing is an amendment to the Form 20-F for the fiscal year ended December 31, 2023. Specific details of the amendments are not provided in the header information but would be detailed within the document itself.
When was the original Form 20-F filed?
The provided text does not explicitly state the original filing date, only that this is Amendment No. 1 to Form 20-F for the fiscal year ended December 31, 2023.
What is Jayud Global Logistics Ltd's primary business activity?
Jayud Global Logistics Ltd is involved in the 'ARRANGEMENT OF TRANSPORTATION OF FREIGHT & CARGO' as indicated by its Standard Industrial Classification code 4731.
Where is Jayud Global Logistics Ltd headquartered?
The company's business and mailing address is located at 4TH FLOOR, BUILDING 4, SHATOUJIAO FTZ, SHENYAN ROAD, YANTIAN DISTRICT, SHENZHEN, F4, 518000.
What is the SEC file number for Jayud Global Logistics Ltd?
The SEC file number for Jayud Global Logistics Ltd is 001-41656.
Filing Stats: 4,589 words · 18 min read · ~15 pages · Grade level 16.2 · Accepted 2024-09-23 17:00:41
Key Financial Figures
- $0.0001 — d Class A ordinary shares, par value US$0.0001 per share JYD The Nasdaq Stock Market L
Filing Documents
- ea0215231-20fa1_jayud.htm (20-F/A) — 2938KB
- ea021523101ex12-1_jayud.htm (EX-12.1) — 11KB
- ea021523101ex12-2_jayud.htm (EX-12.2) — 11KB
- ea021523101ex13-1_jayud.htm (EX-13.1) — 4KB
- ea021523101ex13-2_jayud.htm (EX-13.2) — 4KB
- ea021523101ex23-1_jayud.htm (EX-23.1) — 3KB
- ea021523101ex23-2_jayud.htm (EX-23.2) — 3KB
- image_001.jpg (GRAPHIC) — 23KB
- image_002.jpg (GRAPHIC) — 214KB
- image_003.jpg (GRAPHIC) — 6KB
- ex23-1_001.jpg (GRAPHIC) — 7KB
- ex23-2_001.jpg (GRAPHIC) — 11KB
- 0001213900-24-081072.txt ( ) — 13146KB
- jyd-20231231.xsd (EX-101.SCH) — 121KB
- jyd-20231231_cal.xml (EX-101.CAL) — 85KB
- jyd-20231231_def.xml (EX-101.DEF) — 477KB
- jyd-20231231_lab.xml (EX-101.LAB) — 897KB
- jyd-20231231_pre.xml (EX-101.PRE) — 501KB
- ea0215231-20fa1_jayud_htm.xml (XML) — 1832KB
IDENTITY OF DIRECTORS, SENIOR MANAGEMENT AND ADVISERS
ITEM 1. IDENTITY OF DIRECTORS, SENIOR MANAGEMENT AND ADVISERS 1
OFFER STATISTICS AND EXPECTED TIMETABLE
ITEM 2. OFFER STATISTICS AND EXPECTED TIMETABLE 1
KEY INFORMATION
ITEM 3. KEY INFORMATION 1
INFORMATION ON THE COMPANY
ITEM 4. INFORMATION ON THE COMPANY 52
UNRESOLVED STAFF COMMENTS
ITEM 4A. UNRESOLVED STAFF COMMENTS 77
OPERATING AND FINANCIAL REVIEW AND PROSPECTS
ITEM 5. OPERATING AND FINANCIAL REVIEW AND PROSPECTS 77
DIRECTORS, SENIOR MANAGEMENT AND EMPLOYEES
ITEM 6. DIRECTORS, SENIOR MANAGEMENT AND EMPLOYEES 98
MAJOR SHAREHOLDERS AND RELATED PARTY TRANSACTIONS
ITEM 7. MAJOR SHAREHOLDERS AND RELATED PARTY TRANSACTIONS 105
FINANCIAL INFORMATION
ITEM 8. FINANCIAL INFORMATION 106
THE OFFER AND LISTING
ITEM 9. THE OFFER AND LISTING 106
ADDITIONAL INFORMATION
ITEM 10. ADDITIONAL INFORMATION 107
QUANTITATIVE AND QUALITATIVE DISCLOSURES ABOUT MARKET RISK
ITEM 11. QUANTITATIVE AND QUALITATIVE DISCLOSURES ABOUT MARKET RISK 123
DESCRIPTION OF SECURITIES OTHER THAN EQUITY SECURITIES
ITEM 12. DESCRIPTION OF SECURITIES OTHER THAN EQUITY SECURITIES 123 PART II 124
DEFAULTS, DIVIDEND ARREARAGES AND DELINQUENCIES
ITEM 13. DEFAULTS, DIVIDEND ARREARAGES AND DELINQUENCIES 124
MATERIAL MODIFICATIONS TO THE RIGHTS OF SECURITY HOLDERS AND USE OF PROCEEDS
ITEM 14. MATERIAL MODIFICATIONS TO THE RIGHTS OF SECURITY HOLDERS AND USE OF PROCEEDS 124
CONTROLS AND PROCEDURES
ITEM 15. CONTROLS AND PROCEDURES 125
[RESERVED]
ITEM 16. [RESERVED] 126
AUDIT COMMITTEE FINANCIAL EXPERT
ITEM 16A. AUDIT COMMITTEE FINANCIAL EXPERT 126
CODE OF ETHICS
ITEM 16B. CODE OF ETHICS 126
PRINCIPAL ACCOUNTANT FEES AND SERVICES
ITEM 16C. PRINCIPAL ACCOUNTANT FEES AND SERVICES 126
EXEMPTIONS FROM THE LISTING STANDARDS FOR AUDIT COMMITTEES
ITEM 16D. EXEMPTIONS FROM THE LISTING STANDARDS FOR AUDIT COMMITTEES 127
PURCHASES OF EQUITY SECURITIES BY THE ISSUER AND AFFILIATED PURCHASERS
ITEM 16E. PURCHASES OF EQUITY SECURITIES BY THE ISSUER AND AFFILIATED PURCHASERS 127
CHANGE IN REGISTRANT'S CERTIFYING ACCOUNTANT
ITEM 16F. CHANGE IN REGISTRANT'S CERTIFYING ACCOUNTANT 127
CORPORATE GOVERNANCE
ITEM 16G. CORPORATE GOVERNANCE 128
MINE SAFETY DISCLOSURE
ITEM 16H. MINE SAFETY DISCLOSURE 128
DISCLOSURE REGARDING FOREIGN JURISDICTIONS THAT PREVENT INSPECTIONS
ITEM 16I. DISCLOSURE REGARDING FOREIGN JURISDICTIONS THAT PREVENT INSPECTIONS 128
INSIDER TRADING POLICIES
ITEM 16J. INSIDER TRADING POLICIES 128
CYBERSECURITY
ITEM 16K. CYBERSECURITY 128 PART III 129
FINANCIAL STATEMENTS
ITEM 17. FINANCIAL STATEMENTS 129
FINANCIAL STATEMENTS
ITEM 18. FINANCIAL STATEMENTS 129
EXHIBITS
ITEM 19. EXHIBITS 129
SIGNATURES
SIGNATURES 130 INDEX TO CONSOLIDATED FINANCIAL STATEMENTS F-1 i EXPLANATORY NOTE This Amendment No. 1 (this "Amendment") to the Annual Report on Form 20-F for the year ended December 31, 2023, originally filed with the Securities and Exchange Commission on April 26, 2024 (the "Original Form 20-F") is being by filed by Jayud Global Logistics Limited ("Jayud," the "Company," the "Group," "we," "us," "our") to amend certain information in the Item 5. Operating And Financial Review And Prospect and our previously-reported consolidated financial statements as of December 31, 2022 and for the year ended December 31, 2022 contained in the Original Form 20-F. Except as expressly noted, this Amendment does not modify or update in any way the disclosures in or exhibits to the Original Form 20-F; nor does it reflect events occurring after the Original Form 20-F. Accordingly, this Amendment should be read in conjunction with the Original Form 20-F. ii INTRODUCTION Unless otherwise indicated or the context otherwise requires, all information in this annual report reflects the following: "CAC" refers to the Cyberspace Administration of China; "CAGR" refers to compound average growth rate; "CSRC" refers to the China Securities Regulatory Commission; "China" or the "PRC", in each case, refers to the People's Republic of China, excluding, for the purpose of this annual report only, Hong Kong, Macau and Taiwan. The term "Chinese" has a correlative meaning for the purpose of this annual report. When used in the case of laws and regulations, of "China" or "the PRC", it refers to only such laws and regulations of mainland China; "Class A ordinary shares" refer to our class A ordinary shares, par value US$0.0001 per share after the Forward Share Split; "Class B ordinary shares" refer to our class B ordinary shares, par value US$0.0001 per share after the Forward Share Split; "EIT" refers to enterprise income tax; "Forward Share Split" refers to a 1 to 1.25 f
IDENTITY OF DIRECTORS, SENIOR MANAGEMENT AND ADVISERS
ITEM 1. IDENTITY OF DIRECTORS, SENIOR MANAGEMENT AND ADVISERS Not applicable.
OFFER STATISTICS AND EXPECTED TIMETABLE
ITEM 2. OFFER STATISTICS AND EXPECTED TIMETABLE Not applicable.
KEY INFORMATION
ITEM 3. KEY INFORMATION Our Company We are one of the leading Shenzhen-based end-to-end supply chain solution providers in China, with a focus on providing cross-border logistics services. Headquartered in Shenzhen, a key component of the Greater Bay Area in China, we benefit from the unique geographical advantages of providing high degree of support for ocean, air and overland logistics. A well-connected transportation network enables us to significantly increase efficiency and reduce transportation costs. We offer a comprehensive range of cross-border supply chain solution services, including: (i) freight forwarding services, (ii) supply chain management, and (iii) other value-added services. Risks Related to Doing Business in China Jayud Global Logistics Limited is not a Chinese operating company, but a Cayman Islands holding company with operations mainly conducted by its subsidiaries based in mainland China. We face various legal and operational risks and uncertainties associated with being based in and having the majority of our operations in mainland China and the complex and evolving mainland China laws and regulations. For example, we face risks associated with the fact that the PRC government has significant authority in regulating our operations and may influence or intervene in our operations at any time, regulatory approvals on offerings conducted overseas by, and foreign investment in, China-based issuers, anti-monopoly regulatory actions, and oversight on data security, which may impact our ability to conduct certain businesses, accept foreign investments, or continue to list on a United States exchange. These risks could result in a material adverse change in our operations and the value of our shares, significantly limit or hinder our ability to offer or continue to offer securities to investors, or cause the value of such securities to significantly decline or become worthless. 1 Permissions Required from the PRC Authorities for Our Ope
Selected Financial Data
Selected Financial Data The following selected consolidated statements of income and comprehensive income data for the years ended December 31, 2021, 2022 and 2023, selected consolidated balance sheets data as of December 31, 2022 and 2023, and selected consolidated cash flows data for the years ended December 31, 2021, 2022 and 2023 have been derived from our audited consolidated financial statements, which are included in this annual report beginning on page F-1. Our consolidated financial statements are prepared and presented in accordance with accounting principles generally accepted in the United States of America, or U.S. GAAP. Our historical results are not necessarily indicative of results expected for future periods. You should read this Selected Consolidated Financial Data section together with our consolidated financial statements and the related notes in conjunction with "Item 5. Operating and Financial Review and Prospects" included elsewhere in this annual report. The following table presents our selected consolidated For the Year Ended December 31, 2021 2022 2023 RMB RMB RMB US$ Selected Consolidated Statements of income and Comprehensive Income Data: Revenues 545,593,497 651,991,593 497,868,199 70,293,560 Cost of revenues (511,092,522 ) (614,605,479 ) (513,738,831 ) (72,534,320 ) Gross profit 34,500,975 37,386,114 (15,870,632 ) (2,240,760 ) Operating expenses: Selling expenses (8,956,522 ) (16,032,550 ) (11,943,136 ) (1,686,241 ) Provision for credit losses (498,278 ) (938,208 ) (18,216,749 ) (2,572,006 ) Impairment charges on long-lived assets - - (5,648,685 ) (797,533 ) Lease termination loss - - (478,933 ) (67,620 ) General and administrative expenses (10,777,451 ) (17,616,831 )