Stock Abbreviation: Yongtai Logistics
Stock Code: 001228
Yongtai Chemical Logistics Co., Ltd.
Prospectus for Issuance of Securities to Specific Targets
(Registration Draft)
Sponsor (Lead Underwriter)
July 2026
Declaration
The Company and all directors, members of the Audit Committee of the Board of Directors, and senior management warrant that the contents of this prospectus are true, accurate, and complete, and contain no false records, misleading statements, or major omissions. They fulfill their commitments in accordance with the principle of good faith and bear corresponding legal liabilities.
The Company's controlling shareholders and actual controllers warrant that this prospectus and other information disclosure materials contain no false records, misleading statements, or major omissions, and bear corresponding legal liabilities for their truthfulness, accuracy, and completeness.
The Company's person-in-charge, the person-in-charge of accounting work, and the person-in-charge of the accounting institution guarantee that the financial and accounting information in this prospectus is true and complete.
Any decision or opinion made by the CSRC or the Shenzhen Stock Exchange regarding this issuance does not imply their guarantee of the truthfulness, accuracy, or completeness of the application documents and disclosed information, nor does it constitute a substantive judgment or guarantee of the issuer's profitability, investment value, or investor returns. Any statement to the contrary is a false and untrue representation.
According to the Securities Law, after the securities are issued in accordance with the law, changes in the issuer's operations and earnings are the responsibility of the issuer. Investors shall independently judge the investment value of the issuer, make their own investment decisions, and bear the investment risks caused by changes in the issuer's operations and earnings or fluctuations in securities prices after the issuance.
Important Matters Notice
The Company requests that investors carefully read "Section VII: Risk Factors Related to This Issuance" in the prospectus and pay special attention to the following:
I. Special Risk Warnings
(I) Risk of Operating Performance Volatility and Recent Performance Decline
During the reporting period, the Company's operating income was 2,198.9953 million yuan, 3,899.2211 million yuan, 5,785.5783 million yuan, and 965.3198 million yuan, respectively. Net profit attributable to shareholders of the parent company was 149.9618 million yuan, 87.7763 million yuan, 106.8533 million yuan, and 34.5563 million yuan, respectively. Net profit after deducting non-recurring gains and losses attributable to shareholders of the listed company was 119.0606 million yuan, 126.9445 million yuan, 104.4379 million yuan, and 31.6902 million yuan, respectively. The Company's operating income and net profit fluctuated significantly during the reporting period, and net profit declined in the first three months of 2026 due to increased exchange losses. The gross profit margin for the issuer's cross-border chemical logistics supply chain services was 15.52%, 11.35%, 10.88%, and 13.46%, respectively. In 2024, the gross profit margin was 11.35%, a decrease of 4.17 percentage points from 15.52% in 2023, primarily due to intensified industry competition and reduced price premiums per container.
Affected by global economic cycles, international shipping prices, and overseas demand for chemical products, the Company's revenue scale and gross profit margin for cross-border chemical logistics supply chain services have fluctuated. Meanwhile, the Company has actively developed supply chain trading business, which increased revenue scale but contributed less to net profit due to lower gross margins. If the global macroeconomy remains sluggish, industry demand shrinks, or cost pressures intensify, the Company's operating performance may experience further volatility.
(II) Risk of Failure to Recover Accounts Receivable on Schedule