Document And Entity Information
Document And Entity Information | 12 Months Ended |
Dec. 31, 2023 shares | |
Document Information Line Items | |
Entity Registrant Name | Jayud Global Logistics Limited |
Trading Symbol | JYD |
Document Type | 20-F/A |
Current Fiscal Year End Date | --12-31 |
Amendment Flag | true |
Amendment Description | 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. |
Entity Central Index Key | 0001938186 |
Entity Current Reporting Status | Yes |
Entity Voluntary Filers | No |
Entity Filer Category | Non-accelerated Filer |
Entity Well-known Seasoned Issuer | No |
Document Period End Date | Dec. 31, 2023 |
Document Fiscal Year Focus | 2023 |
Document Fiscal Period Focus | FY |
Entity Emerging Growth Company | true |
Entity Shell Company | false |
Entity Ex Transition Period | false |
ICFR Auditor Attestation Flag | false |
Document Registration Statement | false |
Document Annual Report | true |
Document Transition Report | false |
Document Shell Company Report | false |
Entity File Number | 333-269871 |
Entity Incorporation, State or Country Code | E9 |
Entity Address, Address Line One | Building 3 |
Entity Address, Address Line Two | No. 7 Gangqiao Road |
Entity Address, Address Line Three | Li Lang CommunityNanwan Street, Longgang District |
Entity Address, City or Town | Shenzhen |
Entity Address, Country | CN |
Title of 12(b) Security | Class A ordinary shares, par value US$0.0001 per share |
Security Exchange Name | NASDAQ |
Entity Interactive Data Current | Yes |
Document Financial Statement Error Correction [Flag] | false |
Document Accounting Standard | U.S. GAAP |
Auditor Firm ID | 5395 |
Auditor Name | Marcum Asia CPAs llp |
Auditor Location | New York |
Entity Address, Postal Zip Code | 000000 |
Business Contact | |
Document Information Line Items | |
Entity Address, Address Line One | Building 3 |
Entity Address, Address Line Two | No. 7 Gangqiao Road |
Entity Address, Address Line Three | Li Lang CommunityNanwan Street, Longgang District |
Entity Address, City or Town | Shenzhen |
Entity Address, Country | CN |
Contact Personnel Name | Xiaogang Geng |
City Area Code | +86 |
Local Phone Number | 0755-25595406 |
Contact Personnel Email Address | xiaogang.geng@jayud.com |
Entity Address, Postal Zip Code | 000000 |
Class A Ordinary Shares | |
Document Information Line Items | |
Entity Common Stock, Shares Outstanding | 14,942,623 |
Class B Ordinary Shares | |
Document Information Line Items | |
Entity Common Stock, Shares Outstanding | 6,409,600 |
Consolidated Balance Sheets
Consolidated Balance Sheets | Dec. 31, 2023 CNY (¥) | Dec. 31, 2023 USD ($) | Dec. 31, 2022 CNY (¥) |
Current assets | |||
Cash | ¥ 26,103,076 | $ 3,685,470 | ¥ 27,939,170 |
Restricted cash | 501,952 | 70,870 | |
Accounts receivable, net | 41,281,988 | 5,828,567 | 30,913,334 |
Contract assets | 2,023,221 | 285,657 | 4,460,046 |
Prepaid expenses and other current assets, net | 12,513,878 | 1,766,823 | 12,210,990 |
Total current assets | 82,588,973 | 11,660,663 | 77,199,556 |
Non-current assets | |||
Property and equipment, net | 1,123,976 | 158,693 | 2,613,264 |
Intangible assets, net | 1,994,868 | 281,654 | 757,959 |
Operating right-of-use assets, net | 8,992,535 | 1,269,648 | 31,403,688 |
Deferred offering costs | 6,326,130 | ||
Deferred tax assets, net | 3,689,514 | 520,919 | 21,563 |
Refundable deposits | 2,060,734 | 290,953 | 3,002,260 |
Prepayment for acquisition | 3,596,823 | ||
Restricted cash | 501,071 | ||
Total non-current assets | 17,861,627 | 2,521,867 | 48,222,758 |
TOTAL ASSETS | 100,450,600 | 14,182,530 | 125,422,314 |
Current liabilities | |||
Short-term borrowings | 25,603,498 | 3,614,935 | 14,800,000 |
Current maturities of long-term borrowing | 4,400,000 | 621,232 | 600,000 |
Accounts payable - third parties | 39,804,623 | 5,619,979 | 18,147,774 |
Contract liabilities | 4,777,398 | 674,519 | 1,989,310 |
Accrued expenses and other current liabilities | 7,485,881 | 1,056,925 | 4,217,732 |
Other payable - shareholders | 37,029 | 5,228 | 6,980,836 |
Taxes payable | 513,197 | 72,457 | 2,130,432 |
Operating lease liabilities - current | 8,806,671 | 1,243,406 | 18,079,265 |
Total current liabilities | 109,611,400 | 15,475,935 | 76,848,191 |
Non-current liabilities | |||
Loans payable - a shareholder | 823,265 | 116,236 | |
Loans payable - a third party | 2,833,080 | 400,000 | |
Long-term borrowing | 4,400,000 | ||
Operating lease liabilities – non-current | 5,216,622 | 736,530 | 13,276,535 |
Other payables - shareholders -non-current | 6,937,500 | 979,499 | |
Deferred tax liabilities | 760,806 | 107,418 | |
Total non-current liabilities | 16,571,273 | 2,339,683 | 17,676,535 |
Total liabilities | 126,182,673 | 17,815,618 | 94,524,727 |
Commitments and contingencies | |||
Shareholders’ Equity | |||
Additional paid in capital | 60,423,647 | 8,531,160 | 72,691,813 |
Subscription receivable | (34,823,000) | ||
Statutory reserves | 502,941 | 71,010 | 4,651,141 |
Accumulated deficit | (77,454,208) | (10,935,689) | (9,025,668) |
Accumulated other comprehensive loss | (1,541,653) | (217,665) | (181,546) |
Total Jayud Global Logistics Limited shareholders’ equity / (deficit) | (18,055,399) | (2,549,225) | 33,325,657 |
Non-controlling interests | (7,676,674) | (1,083,863) | (2,428,070) |
Total shareholders’ equity/ (deficit) | (25,732,073) | (3,633,088) | 30,897,587 |
TOTAL LIABILITIES AND SHAREHOLDERS’ EQUITY/ (DEFICIT) | 100,450,600 | 14,182,530 | 125,422,313 |
Related Party | |||
Current assets | |||
Accounts receivable - a related party | 1,676,016 | ||
Other receivable - related parties | 164,858 | 23,276 | |
Current liabilities | |||
Loans payable - a related party | 3,000,000 | 423,567 | |
Accounts payable - related parties | 6,666,458 | 941,231 | 7,425,184 |
Other payable - related parties | 8,516,645 | 1,202,457 | 2,477,658 |
Class A Ordinary Shares | |||
Shareholders’ Equity | |||
Ordinary shares | 9,787 | 1,382 | 8,830 |
Class B Ordinary Shares | |||
Shareholders’ Equity | |||
Ordinary shares | ¥ 4,087 | $ 577 | ¥ 4,087 |
Consolidated Balance Sheets (Pa
Consolidated Balance Sheets (Parentheticals) - $ / shares | Dec. 31, 2023 | Dec. 31, 2022 |
Class A Ordinary Shares | ||
Ordinary shares, par value (in Dollars per share) | $ 0.0001 | $ 0.0001 |
Ordinary shares, authorized | 480,000,000 | 480,000,000 |
Ordinary shares, issued | 14,942,623 | 13,590,400 |
Ordinary shares, outstanding | 14,942,623 | 13,590,400 |
Class B Ordinary Shares | ||
Ordinary shares, par value (in Dollars per share) | $ 0.0001 | $ 0.0001 |
Ordinary shares, authorized | 20,000,000 | 20,000,000 |
Ordinary shares, issued | 6,409,600 | 6,409,600 |
Ordinary shares, outstanding | 6,409,600 | 6,409,600 |
Consolidated Statements of Oper
Consolidated Statements of Operations and Comprehensive Income/ (Loss) | 12 Months Ended | |||
Dec. 31, 2023 CNY (¥) ¥ / shares shares | Dec. 31, 2023 USD ($) $ / shares shares | Dec. 31, 2022 CNY (¥) ¥ / shares shares | Dec. 31, 2021 CNY (¥) ¥ / shares shares | |
Income Statement [Abstract] | ||||
Revenues | ¥ 497,671,625 | $ 70,265,806 | ¥ 649,450,107 | ¥ 531,451,949 |
Revenues - related parties | 196,575 | 27,754 | 2,541,486 | 14,141,548 |
Cost of revenues | (439,153,595) | (62,003,698) | (491,762,767) | (318,046,475) |
Cost of revenues - related parties | (74,585,237) | (10,530,622) | (122,842,712) | (193,046,047) |
Gross profit/(loss) | (15,870,632) | (2,240,760) | 37,386,114 | 34,500,975 |
Operating expenses | ||||
Selling expenses | (11,943,136) | (1,686,241) | (16,032,550) | (8,956,522) |
Provision for credit losses | (18,216,749) | (2,572,006) | (938,209) | (442,543) |
Impairment charges on long-lived assets | (5,648,685) | (797,533) | ||
Lease termination loss | (478,933) | (67,620) | ||
General and administrative expenses | (26,202,413) | (3,699,495) | (17,616,830) | (10,833,186) |
Research and development expenses | (1,394,072) | (196,828) | (2,096,317) | (1,460,960) |
Total operating expenses | (63,883,988) | (9,019,723) | (36,683,906) | (21,693,211) |
Operating profit/(loss) | (79,754,620) | (11,260,483) | 702,208 | 12,807,764 |
Other income (expenses) | ||||
Other expenses, net | (931,896) | (131,574) | (205,903) | (11,599) |
Foreign exchange gain (loss) , net | (1,401,573) | (197,887) | 4,407,133 | 489,268 |
Financial expenses, net | (995,245) | (140,518) | (943,324) | (1,358,586) |
Total other income (expenses), net | (3,328,714) | (469,979) | 3,257,906 | (880,917) |
Income before income tax/(loss before income tax benefit) | (83,083,334) | (11,730,462) | 3,960,114 | 11,926,847 |
(Income tax)/income tax benefit | 2,807,990 | 396,458 | (2,582,217) | (1,703,179) |
Net income/(loss) | (80,275,344) | (11,334,004) | 1,377,897 | 10,223,668 |
Less: Net loss attributable to non-controlling interests | (7,698,604) | (1,086,959) | (2,510,826) | (81,640) |
Net income/ (loss) attributable to the Jayud Global Logistics Limited’s ordinary shareholders | (72,576,740) | (10,247,045) | 3,888,723 | 10,305,308 |
Net income/(loss) | (80,275,344) | (11,334,004) | 1,377,897 | 10,223,668 |
Foreign currency translation difference, net of tax | (1,360,107) | (192,032) | (200,146) | 10,158 |
Total comprehensive income (loss) | (81,635,451) | (11,526,036) | 1,177,751 | 10,233,826 |
Less: total comprehensive loss attributable to non-controlling interest | (7,698,604) | (1,086,959) | (2,510,826) | (81,640) |
Total comprehensive income (loss) attributable to Jayud Global Logistics Limited’s ordinary shareholders | ¥ (73,936,847) | $ (10,439,077) | ¥ 3,688,577 | ¥ 10,315,466 |
Net income (loss) per share | ||||
Net income (loss) per share, Basic (in Dollars per share and Yuan Renminbi per share) | (per share) | ¥ (3.47) | $ (0.49) | ¥ 0.22 | ¥ 0.6 |
Weighted average shares | ||||
Weighted average shares, Basic (in Shares) | 20,924,500 | 20,924,500 | 18,071,233 | 17,200,000 |
Consolidated Statements of Op_2
Consolidated Statements of Operations and Comprehensive Income/ (Loss) (Parentheticals) | 12 Months Ended | |||
Dec. 31, 2023 $ / shares shares | Dec. 31, 2023 ¥ / shares shares | Dec. 31, 2022 ¥ / shares shares | Dec. 31, 2021 ¥ / shares shares | |
Income Statement [Abstract] | ||||
Net income (loss) per share, Diluted (in Dollars per share and Yuan Renminbi per share) | (per share) | $ (0.49) | ¥ (3.47) | ¥ 0.22 | ¥ 0.60 |
Weighted average shares, Diluted | 20,924,500 | 20,924,500 | 18,071,233 | 17,200,000 |
Consolidated Statements of Chan
Consolidated Statements of Changes in Shareholders’ Equity/ (Deficit) | Ordinary shares Class A CNY (¥) shares | Ordinary shares Class A USD ($) shares | Ordinary shares Class B CNY (¥) shares | Ordinary shares Class B USD ($) shares | Additional paid-in capital CNY (¥) | Additional paid-in capital USD ($) | Subscription receivable CNY (¥) | Subscription receivable USD ($) | Statutory reserves CNY (¥) | Statutory reserves USD ($) | (Accumulated deficit)/Retained earnings CNY (¥) | (Accumulated deficit)/Retained earnings USD ($) | Accumulated other comprehensive income (loss) CNY (¥) | Accumulated other comprehensive income (loss) USD ($) | Total Jayud Global Logistics Limited shareholders’ equity CNY (¥) | Total Jayud Global Logistics Limited shareholders’ equity USD ($) | Non-controlling interests CNY (¥) | Non-controlling interests USD ($) | Class A shares | Class B shares | CNY (¥) shares | USD ($) shares | |||||
Balance (in Dollars) | ¥ 6,880 | [1] | ¥ 4,087 | [1] | ¥ 12,831,938 | ¥ 1,468,823 | ¥ (8,106,381) | ¥ 8,442 | ¥ 6,213,789 | ¥ (77,336) | ¥ 6,136,453 | ||||||||||||||||
Balance at Dec. 31, 2020 | ¥ 6,880 | [1] | ¥ 4,087 | [1] | 12,831,938 | 1,468,823 | (8,106,381) | 8,442 | 6,213,789 | (77,336) | 6,136,453 | ||||||||||||||||
Balance (in Shares) at Dec. 31, 2020 | shares | [1] | 10,790,400 | 10,790,400 | 6,409,600 | 6,409,600 | ||||||||||||||||||||||
Provision for statutory reserve | 979,039 | (979,039) | |||||||||||||||||||||||||
Net income (loss) | 10,305,308 | 10,305,308 | (81,640) | 10,223,668 | |||||||||||||||||||||||
Capital injection | 400,000 | 400,000 | 400,000 | ||||||||||||||||||||||||
Acquisition of non-controlling interest | (41,732) | (41,732) | 41,732 | ||||||||||||||||||||||||
Foreign currency translation | 10,158 | 10,158 | 10,158 | ||||||||||||||||||||||||
Balance at Dec. 31, 2021 | ¥ 6,880 | [1] | ¥ 4,087 | [1] | 13,190,206 | 2,447,862 | 1,219,888 | 18,600 | 16,887,523 | (117,244) | 16,770,279 | ||||||||||||||||
Balance (in Shares) at Dec. 31, 2021 | shares | [1] | 10,790,400 | 10,790,400 | 6,409,600 | 6,409,600 | ||||||||||||||||||||||
Balance (in Dollars) | ¥ 6,880 | [1] | ¥ 4,087 | [1] | 13,190,206 | 2,447,862 | 1,219,888 | 18,600 | 16,887,523 | (117,244) | 16,770,279 | ||||||||||||||||
Provision for statutory reserve | 2,203,279 | (2,203,279) | |||||||||||||||||||||||||
Issuance of new shares to third party investors | ¥ 1,393 | [1] | [1] | 34,821,607 | (34,823,000) | ||||||||||||||||||||||
Issuance of new shares to third party investors (in Shares) | shares | [1] | 2,000,000 | 2,000,000 | ||||||||||||||||||||||||
Issuance of new shares to service providers | ¥ 557 | [1] | [1] | 557 | 557 | ||||||||||||||||||||||
Issuance of new shares to service providers (in Shares) | shares | [1] | 800,000 | 800,000 | ||||||||||||||||||||||||
Capital injection by non-controlling interest | 200,000 | 200,000 | |||||||||||||||||||||||||
Dividend distribution | (11,931,000) | (11,931,000) | (11,931,000) | ||||||||||||||||||||||||
Net income (loss) | 3,888,723 | 3,888,723 | (2,510,826) | 1,377,897 | |||||||||||||||||||||||
Capital injection | 24,680,000 | 24,680,000 | 24,680,000 | ||||||||||||||||||||||||
Foreign currency translation | (200,146) | (200,146) | (200,146) | ||||||||||||||||||||||||
Balance at Dec. 31, 2022 | ¥ 8,830 | [1] | ¥ 4,087 | [1] | 72,691,813 | (34,823,000) | 4,651,141 | (9,025,668) | (181,546) | 33,325,657 | (2,428,070) | ¥ 30,897,587 | |||||||||||||||
Balance (in Shares) at Dec. 31, 2022 | shares | 13,590,400 | [1] | 13,590,400 | [1] | 6,409,600 | [1] | 6,409,600 | [1] | 13,590,400 | 6,409,600 | 6,409,600 | 6,409,600 | |||||||||||||||
Balance (in Dollars) | ¥ 8,830 | [1] | ¥ 4,087 | [1] | 72,691,813 | (34,823,000) | 4,651,141 | (9,025,668) | (181,546) | 33,325,657 | (2,428,070) | ¥ 30,897,587 | |||||||||||||||
Provision for statutory reserve | (4,148,200) | 4,148,200 | |||||||||||||||||||||||||
Issuance of new shares - IPO | ¥ 957 | [1] | [1] | 38,309,168 | 38,310,125 | 38,310,125 | |||||||||||||||||||||
Issuance of new shares - IPO (in Shares) | shares | [1] | 1,352,223 | 1,352,223 | ||||||||||||||||||||||||
Payments to Initial Shareholders | (35,000,000) | (35,000,000) | (35,000,000) | ||||||||||||||||||||||||
Funds received from share issued in 2022 | 34,823,000 | 34,823,000 | 34,823,000 | ||||||||||||||||||||||||
Transfer of deferred offering cost upon completion of IPO | (15,938,208) | (15,938,208) | (15,938,208) | ||||||||||||||||||||||||
Issuance of warrant | 360,874 | 360,874 | 360,874 | ||||||||||||||||||||||||
Capital injection by non-controlling interest | 2,450,000 | 2,450,000 | |||||||||||||||||||||||||
Net income (loss) | (72,576,740) | (72,576,740) | (7,698,604) | (80,275,344) | $ (11,334,004) | ||||||||||||||||||||||
Foreign currency translation | (1,360,107) | (1,360,107) | (1,360,107) | ||||||||||||||||||||||||
Balance at Dec. 31, 2023 | ¥ 9,787 | [1] | $ 1,382 | [1] | ¥ 4,087 | [1] | $ 577 | [1] | 60,423,647 | $ 8,531,160 | 502,941 | $ 71,010 | (77,454,208) | $ (10,935,689) | (1,541,653) | $ (217,665) | (18,055,399) | $ (2,549,225) | (7,676,674) | $ (1,083,863) | (25,732,073) | (3,633,088) | |||||
Balance (in Shares) at Dec. 31, 2023 | shares | 14,942,623 | [1] | 14,942,623 | [1] | 6,409,600 | [1] | 6,409,600 | [1] | 14,942,623 | 6,409,600 | |||||||||||||||||
Balance (in Dollars) | ¥ 9,787 | [1] | $ 1,382 | [1] | ¥ 4,087 | [1] | $ 577 | [1] | ¥ 60,423,647 | $ 8,531,160 | ¥ 502,941 | $ 71,010 | ¥ (77,454,208) | $ (10,935,689) | ¥ (1,541,653) | $ (217,665) | ¥ (18,055,399) | $ (2,549,225) | ¥ (7,676,674) | $ (1,083,863) | ¥ (25,732,073) | $ (3,633,088) | |||||
[1]Ordinary shares, additional paid-in capital and share data have been retroactively restated to give effect to the reverse recapitalization completed on September 6, 2022 (Note 1(b)). |
Consolidated Statements of Cash
Consolidated Statements of Cash Flows | 12 Months Ended | |||
Dec. 31, 2023 CNY (¥) | Dec. 31, 2023 USD ($) | Dec. 31, 2022 CNY (¥) | Dec. 31, 2021 CNY (¥) | |
Cash flows from operating activities: | ||||
Net income (loss) | ¥ (80,275,344) | $ (11,334,004) | ¥ 1,377,897 | ¥ 10,223,668 |
Adjustments to reconcile net income to net cash provided by (used in) operating activities: | ||||
Provision for credit losses | 18,216,749 | 2,572,006 | 938,209 | 442,543 |
Lease termination loss | 478,933 | 67,620 | ||
Depreciation and amortization | 1,131,796 | 159,797 | 848,664 | 688,866 |
Amortization of operating lease right-of-use asset | 9,405,893 | 1,328,009 | 10,933,292 | 3,498,048 |
Losses from disposal of property, equipment and software | 719,165 | 101,538 | (13,075) | 52,663 |
Impairment losses of property and equipment | 2,404,009 | 339,420 | ||
Impairment losses of operating lease right-of-use assets | 3,244,676 | 458,113 | ||
Deferred tax expenses | (2,907,145) | (410,457) | 116,755 | 864,072 |
Changes in operating assets and liabilities | ||||
Accounts receivable, net | (19,785,995) | (2,793,568) | 55,931,552 | (53,592,329) |
Accounts receivable - related parties | 1,676,016 | 236,635 | (1,649,862) | 2,788,565 |
Contract assets | 2,396,978 | 338,427 | (1,257,013) | (2,609,559) |
Prepaid expenses and other current asset, net | (4,838,558) | (683,152) | 10,069,570 | (21,756,319) |
Prepaid expenses - a related party | (164,858) | (23,276) | 1,674,157 | (1,674,157) |
Refundable deposits | (1,000,000) | (141,189) | (3,002,260) | |
Accounts payable | 21,656,849 | 3,057,711 | (23,753,846) | 22,083,942 |
Accounts payable - related parties | (758,726) | (107,124) | (53,553,469) | 39,435,858 |
Contract liabilities | 2,788,088 | 393,648 | 170,846 | 5,943,100 |
Accrued expenses and other current liabilities | 3,268,149 | 461,427 | (3,021,321) | 2,884,200 |
Other payable - shareholders | (6,307) | (890) | (71,266) | (659,832) |
Other payable - related parties | 7,316,314 | 1,032,984 | ||
Tax payable | (1,617,237) | (228,336) | (215,482) | (792,044) |
Operating lease liabilities | (7,571,923) | (1,069,073) | (10,755,243) | (3,532,276) |
Other long-term liabilities | (49,427) | |||
Net cash provided by (used in) operating activities | (44,222,478) | (6,243,734) | (15,231,895) | 4,239,582 |
Cash flows from investing activities: | ||||
Prepayment for acquisition | (3,596,823) | |||
Purchase of property, equipment and intangible assets | (4,444,392) | (627,500) | (2,150,431) | (634,871) |
Proceeds from disposal of property and equipment | 18,500 | |||
Net cash used in investing activities | (4,444,392) | (627,500) | (5,728,754) | (634,871) |
Cash flows from financing activities: | ||||
Proceeds from short-term borrowings | 31,805,201 | 4,490,548 | 18,000,000 | 18,000,000 |
Proceeds from a long-term borrowing | 5,000,000 | 5,000,000 | ||
Repayments of short-term borrowings | (21,001,703) | (2,965,211) | (14,100,000) | (14,810,000) |
Repayment of a long-term borrowing | (600,000) | (84,713) | (4,450,000) | (550,000) |
Proceeds from loans provided by shareholders | 823,265 | 116,236 | 6,295,383 | 6,245,000 |
Proceeds from loans provided by related parties | 6,000,000 | 847,135 | 500,000 | 2,100,000 |
Loans repayment to shareholders | (8,855,383) | (3,685,000) | ||
Loans repayment to related parties | (3,000,000) | (423,569) | (2,112,000) | (500,000) |
Proceeds from loans provided by third parties | 2,833,080 | 400,000 | 5,631,457 | 4,800,000 |
Loans repayment to third parties | (10,431,457) | (1,385,355) | ||
Proceeds from shareholder’s contribution | 24,680,000 | 400,000 | ||
Proceeds from IPO | 38,310,125 | 5,408,972 | ||
Proceeds from shares issued | 34,823,000 | 4,916,628 | ||
Payments for deferred offering costs | (9,251,204) | (1,306,169) | (5,426,702) | (898,870) |
Dividend distribution | (6,193,500) | |||
Payments to Initial Shareholders | (35,000,000) | (4,941,616) | ||
Capital injection by a non-controlling interest | 2,450,000 | 345,913 | 200,000 | |
Other payable - related parties | 596,513 | (1,769,615) | ||
Net cash provided by financing activities | 48,191,764 | 6,804,154 | 9,334,311 | 12,946,160 |
Effect of exchange rate changes | (1,360,107) | (192,032) | (200,146) | 10,158 |
Net increase (decrease) in cash and cash equivalents and restricted cash | (1,835,213) | (259,112) | (11,826,484) | 16,561,029 |
Total cash and cash equivalents and restricted cash at beginning of the year | 28,440,241 | 4,015,452 | 40,266,725 | 23,705,696 |
Total cash and cash equivalents and restricted cash at end of the year | 26,605,028 | 3,756,340 | 28,440,241 | 40,266,725 |
Supplemental disclosure of cash flow information: | ||||
Income tax paid | 2,152,341 | 607,774 | 2,517,406 | 1,046,305 |
Interest expense paid | 884,259 | 124,848 | 781,143 | 1,773,998 |
Supplemental non-cash investing and financing information: | ||||
Obtaining right-of-use assets in exchange for operating lease liabilities | 441,168 | 62,288 | 35,873,660 | 3,603,273 |
Dividend distribution included in Other payable - shareholders | 6,937,500 | 979,499 | 6,937,500 | |
Issuance of new shares with consideration receivable | 34,823,000 | |||
Issuance of new shares in exchange of services | 557 | |||
Issuance of warrant as share issue cost | 360,874 | 50,951 | ||
Restricted cash at end of the year | 501,952 | $ 70,870 | 501,071 | |
Cash and cash equivalents at end of the year | ¥ 26,103,076 | ¥ 27,939,170 | ¥ 40,266,725 |
Organization and Principal Acti
Organization and Principal Activities | 12 Months Ended |
Dec. 31, 2023 | |
Organization and Principal Activities [Abstract] | |
ORGANIZATION AND PRINCIPAL ACTIVITIES | 1. ORGANIZATION AND PRINCIPAL ACTIVITIES (a) Organization Jayud Global Logistics Limited (“Jayud” or the “Company”) was incorporated in the Cayman Islands on June 10, 2022 under the Cayman Islands Companies Act. The Company through its consolidated subsidiaries (collectively, the “Group”) is principally engaged in the freight forwarding and trading based in the People’s Republic of China (“PRC” or “China”). As of December 31, 2023, the details of the Company’s subsidiaries are as follows. All subsidiaries of the Group are all owned by the Company through equity investment. Entity Controlled by Date of Place of Percentage Principal activities Jayud Global Logistics (Hong Kong) Limited (“JYD HK”) Jayud June 24, 2022 Hong Kong 100 % Wholly foreign owned enterprise Joyed Logistics Services Inc. (“JYD US”) Jayud April 25, 2023 U.S.A. 100 % Freight forwarding Shenzhen Jayud Logistics Technology Co., Ltd (“JYD WLKJ”) JYD HK July 23, 2015 PRC 100 % Freight forwarding Hongkong Jayud International Logistics Company Limited (“JYD HKGJHY”) JYD HK December 31, 2017 Hong Kong 100 % Agent service HK XINYX Technology Limited (“HK XYX”) JYD HK September 6, 2023 Hong Kong 100 % International trading Shenzhen Jia Yu Da International Logistics Co., Ltd. And its Tianjin Branch, Guangzhou Branch, Qingdao Branch and Ningbo Branch (“JYD SZGJHY”) JYD WLKJ June 19, 2011 PRC 100 % Freight forwarding Shenzhen Jia Yu Da Trading Co., Ltd. (“JYD SM”) JYD WLKJ September 18, 2009 PRC 100 % International trading Xuchang Jayud Supply Chain Management Co., Ltd (“JYD XC”) JYD WLKJ May 6, 2021 PRC 100 % Freight forwarding Shenzhen Jiayuda Customs Declaration Co., Ltd. (“JYD BG”) JYD WLKJ September 14, 2015 PRC 100 % Customs brokerage Shenzhen XIN YU Xiang Import & Export Co., Ltd. (“JYD XYX”) JYD WLKJ October 26, 2011 PRC 100 % International trading Shenzhen Ronghai Tongda Supply Chain Management Co., Ltd (“JYD RHTD”) JYD XYX July 31, 2023 PRC 51 % International trading Shenzhen Jiayuda Global Supply Chain Co., Ltd. (“JYD HQ”) JYD WLKJ April 23, 2014 PRC 100 % Freight forwarding Sky Pacific Logistics HK Company Limited (“TPYHK”) JYD HQ March 2, 2016 Hong Kong 67 % Agent service Shenzhen Jiayuda E-Commerce Technology Co., Ltd (“JYD DS”) JYD WLKJ April 1, 2021 PRC 100 % Freight forwarding Nanjing Jiayuda Logistics Co., Ltd. And its Nantong Branch, Xiamen Branch, and Danyang Branch (“JYD NJWL”) JYD WLKJ February 12, 2018 PRC 100 % Freight forwarding Shaanxi JiaYuda Supply Chain Management Co., Ltd. (“JYD SXGYL”) JYD WLKJ March 27, 2018 PRC 100 % Freight forwarding Cargo Link Company Limited (“JYD SHWL”) JYD WLKJ November 10, 2021 PRC 51 % Freight forwarding Shenzhen Jayud Yuncang Technology Co., Ltd. (“JYD YCKJ”) JYD WLKJ July 25, 2022 PRC 52 % Warehousing (b) Reorganization In anticipation of an initial public offering (“IPO”) of its equity securities, the Company incorporated Jayud Global Logistic (Hong Kong) Limited (“JYD HK”) under the laws of Hong Kong, PRC, as its direct wholly-owned subsidiary, on June 24, 2022. In September 2022, JYD HK directly invested in JYD WLKJ as its direct wholly-owned subsidiary and resulted in payment of RMB 35Mil Since the Company and its subsidiaries were effectively controlled by the same shareholders immediately before and after the reorganization completed in September 2022, as described above, the reorganization was accounted for as a recapitalization. As a result, the Group’s consolidated financial statements have been prepared as if the current corporate structure has been in existence throughout the periods presented. The Company and its subsidiaries resulting from the reorganization have always been under the common control of the same controlling shareholders before and after the reorganization. The consolidation of the Company and its subsidiaries has been accounted for at historical cost and prepared on the basis as if the aforementioned transactions had become effective as of the beginning of the first period presented in the accompanying consolidated financial statements. Results of operations for the periods presented comprise those of the previously separate entities combined from the beginning of the period to the end of the period, eliminating the effects of intra-entity transactions. (c) Changes of non-controlling interests In October 2021, JYD WLKJ set up JYD SHWL with non-controlling shareholders and obtained 51% equity interest of JYD SHWL. (Note 2(x)) In July 2022, JYD WLKJ set up JYD YCKJ with a non-controlling shareholder and obtained 52% equity interest of JYD YCKJ. (Note 2(x)) In July 2023, JYD XYX set up JYD RHTD with a non-controlling shareholder and obtained 51% equity interest of JYD RHTD. (Note 2(x)) |
Summary of Significant Accounti
Summary of Significant Accounting Policies | 12 Months Ended |
Dec. 31, 2023 | |
Summary of Significant Accounting Policies [Abstract] | |
SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES | 2. SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (a) Basis of presentation The accompanying consolidated financial statements are prepared in accordance with accounting principles generally accepted in the United States of America (“U.S. GAAP”). (b) Principles of consolidation The consolidated financial statements include the financial statements of the Company and its subsidiaries. All intercompany transactions and balances among the Company and its subsidiaries have been eliminated upon consolidation. (c) Use of estimates and assumptions The preparation of the consolidated financial statements in accordance with U.S. GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities at the balance sheet date and revenues and expenses during the reporting periods. Significant accounting estimates include, but not limited to the allowance of credit loss for accounts receivables, contract assets, and prepaid expenses and other current asset, the impairment of long-lived assets, and the valuation allowance for deferred tax assets. Changes in facts and circumstances may result in revised estimates. Actual results could differ from those estimates, and as such, differences may be material to the consolidated financial statements. (d) Foreign currencies and foreign currency translation The functional and reporting currency of the Group is Renminbi (“RMB”). The Company’s operating subsidiaries in China and Hong Kong use their respective currencies RMB and Hong Kong Dollar (“HKD”) as their functional currencies. The financial statements of Hong Kong entities are translated into RMB using the exchange rate as of the balance sheet date for assets and liabilities and average exchange rate for the years for income and expense items. Assets and liabilities denominated in foreign currencies at the balance sheet date are translated at the applicable rates of exchange in effect at that date. The equity denominated in the functional currency other than RMB is translated at the historical rate of exchange at the time of capital contribution. Translation adjustments arising from these are reported as foreign currency translation adjustments RMB10,158 , RMB200,146 and RMB1,360,107 (US$192,032) for the years ended December 31, 2021, 2022 and 2023, respectively and are shown as a separate component of shareholders’ equity on the consolidated financial statement. The following table outlines the currency exchange rates that were used in preparing the consolidated financial statements, representing the index rates stipulated by the Bank of China: HKD against RMB December 31, 2021 December 31, 2022 December 31, 2023 Year-end spot rate HKD1=RMB0.8168 HKD1=RMB0.8899 HKD1=RMB0.9056 Average rate HKD1=RMB0.8327 HKD1=RMB0.8578 HKD1=RMB0.8999 Foreign currency transactions denominated in currencies other than the functional currency are translated into the functional currency using the exchange rates prevailing at the dates of the transactions. Monetary assets and liabilities denominated in foreign currencies are translated into the functional currency using the applicable exchange rates at the balance sheet dates. Net gains and losses resulting from foreign exchange transactions are included in exchange gains/(losses) on the consolidated statements of income and comprehensive income. The Group incurred and recognized foreign currency exchange gain of RMB489,268 and RMB4,407,133 for the years ended and 2022, foreign currency exchange loss of RMB1,401,573(US$197,887) for the years ended , respectively, as a result of changes in the exchange rate. (e) Convenience translation The United States dollar (“US$”) amounts disclosed in the accompanying financial statements are presented solely for the convenience of the readers. Translations of amounts from RMB into US$ for the convenience of the reader were calculated at the rate of US$1.00=RMB7.0827 on December 31, 2023, representing the middle rate as set forth in the statistical release of the Bank of China as of December 31, 2023. No representation is made that the RMB amounts could have been, or could be, converted into US$ at such rate. (f) Segment information An operating segment is a component of the Group that engages in business activities from which it may earn revenues and incur expenses, and is identified on the basis of the internal financial reports that are provided to and regularly reviewed by the Group’s chief operating decision maker in order to allocate resources and assess performance of the segment. In accordance with ASC (“Accounting Standard Codification”) 280, Segment Reporting, operating segments are defined as components of an enterprise about which separate financial information is available that is evaluated regularly by the chief operating decision maker (“CODM”), or decision-making group, in deciding how to allocate resources and in assessing performance. The Group uses the “management approach” in determining reportable operating segments. The management approach considers the internal organization and reporting used by the Group’s chief operating decision maker for making operating decisions and assessing performance as the source for determining the Group’s reportable segments. The Group’s CODM has been identified as the chief executive officer (the “CEO”), who reviews consolidated results when making decisions about allocating resources and assessing performance of the Group. The Group has determined that there is only one reportable operating segment since all types of the services provided and products delivered are viewed as an integrated business process and allocation of the resources and assessment of the performance are not separately evaluated by the Group’s CODM. (g) Cash and Restricted Cash Cash consists of cash on hand and cash in bank. The Group maintains cash with various financial institutions primarily in China. As of December 31, 2022 and 2023, balances of cash were RMB27,939,170 and RMB26,103,076 (US$3,685,470 ), respectively. The Group has not experienced any losses in bank accounts and believes it is not exposed to any risks on its cash in bank accounts. Restricted cash represents Demand Bank Guarantee for an international express company. Under the Demand Bank Guarantee, the Company need to deposit RMB500,000 into the bank account in the Bank of China and the cash deposited is restricted for use to make the payments to the international express company under the two-year Air Freight Agency Agreement between the Company and the express company. The term of the Demand Bank Guarantee is from March 2022 to January 2024. In January 2024, RMB501,952 (US$70,870) was released, which consisted of principal of RMB500,000 (US$70,595) and accumulated interests of RMB1,952 (US$275). (h) Accounts receivable, net Accounts receivable, net, include amounts billed and currently due from customers. The amounts due are stated at their net estimated realizable value. The credit terms are generally between 30 to 60 days. In June 2016, the FASB issued ASU 2016-13, Financial Instruments – Credit Losses (Topic 326): Measurement of Credit Losses on Financial Instruments, which is intended to improve financial reporting by requiring timelier recording of credit losses on loans and other financial instruments held by financial institutions and other organizations. The ASU requires the measurement of all expected credit losses for financial assets held at the reporting date based on historical experience, current conditions, and reasonable and supportable forecasts. Financial institutions and other organizations will now use forward looking information to better inform their credit loss estimates. This ASU has subsequently been amended by ASU 2018-19, ASU 2019-04, ASU 2019-05, ASU 2019-10, ASU 2019-11 and ASU 2020-03. The standard will replace today’s incurred loss approach with an expected loss model for instruments measured at amortized cost. Entities will apply the standard’s provisions as a cumulative-effect adjustment to retained earnings as of the beginning of the first reporting period in which the guidance is effective. This ASU is effective for public entities for annual and interim periods beginning after December 15, 2019, and effective for all other entities for annual and interim periods beginning after December 15, 2022. The Group, as an EGC, adopted the guidance starting from January 1, 2023. The Group using the modified retrospective transition method, which had no effect on the opening balance of accumulated deficit on January 1, 2023. The allowance for doubtful accounts as of December 31, 2022 and 2023 was RMB1,185,328 and RMB10,196,104 (US$1,439,579), respectively. (i) Property and equipment, net Property and equipment is stated at cost less accumulated depreciation and impairment, if any, and depreciated on a straight-line basis over the estimated useful lives with an estimated residual value of the assets as follows: Category Estimated Motor vehicles 4 - 5 years Electronic equipment 1 - 5 years Machinery 5 years Other equipment 5 years Repair and maintenance costs are charged to expenses as incurred, whereas the cost of renewals and betterment that extends the useful lives of property, plant and equipment are capitalized as additions to the related assets. Retirements, sales and disposals of assets are recorded by removing the costs, accumulated depreciation and impairment with any resulting gain or loss recognized in the consolidated statements of income and other comprehensive income in other income or expenses. See Note 6 - Property and Equipment, net in the Notes to Consolidated Financial Statements for additional information related to the impairment charge during the year ended December 31, 2023. (j) Intangible assets, net Intangible assets are carried at cost less accumulated amortization and any recorded impairment. The intangible assets of the Group mainly represent the software for operating activities. Intangible assets are amortized using the straight-line basis over the estimated useful live of the asset as follows: Category Estimated Software 5 - 10 years (k) Refundable deposits Refundable deposits represent the deposits made for long-term leases and deposits to vendors. These deposits are interest free and will be refunded at the end of the lease and cooperation. Since the leases and cooperation contracts have the term over one year, these deposits are classified as long term assets. (l) Prepayment for acquisition The prepayment for acquisition is the payment made to acquire a business. These amounts are refundable and interest free if the acquisition was successfully completed. Management reviews its prepayments on a regular basis to determine if the allowance is adequate, and adjusts the allowance when necessary. (m) Related parties A related party may be any of the following: a) an affiliate, which is a party that directly or indirectly controls, is controlled by, or is under common control with another party; b) a principle owner, owner of record or known beneficial owner of more than 10% of the voting interest of an entity; c) management, which are persons having responsibility for achieving objectives of the entity and requisite authority to make decision; d) immediate family of management or principal owners; e) a parent company and its subsidiaries; and f) other parties that have ability to significant influence the management or operating policies of the entity. The Company discloses all significant related party transactions. (n) Impairment of long-lived assets The Group reviews its long-lived assets for impairment whenever events or changes in circumstances indicate that the carrying amount of an asset may no longer be recoverable. When these events occur, the Group measures impairment by comparing the carrying value of the long-lived assets to the estimated undiscounted future cash flows expected to result from the use of the assets and their eventual disposition. If the sum of the expected undiscounted cash flow is less than the carrying amount of the assets, the Group would recognize an impairment loss, which is the excess of carrying amount over the fair value of the assets, using the expected future discounted cash flows. During the year ended December 31, 2023, there was a triggering event of negative cash flows and operating losses at the freight forwarding and warehousing assets group level that indicated the carrying amounts of the Company’s long-lived assets may not have been recoverable. In accordance with ASC 360, regarding the long-lived assets, we performed an undiscounted cash flow analysis and concluded that the carrying value of the asset group was not recoverable. Accordingly, the Group then performed an analysis to estimate the fair value of the other long-lived assets and concluded that property and equipment and right-of-use (ROU) assets were subject to impairment. As of December 31, 2023, the Group’s property and equipment and ROU assets mainly included machinery, equipment, vehicles, leasehold improvement and operating office and warehouse leases. For the year ended 2023, the Group recognized an impairment charge of RMB2.4 million (US$0.3 million) against the property and equipment, RMB3.2 million (US$0.5 million) against the right-of-use (ROU) assets for the amount by which the carrying value of the asset group’s long-lived assets exceeded their estimated fair value. No (o) Fair value measurement The Group applies ASC 820, Fair Value Measurements and Disclosures ASC 820 establishes a three-tier fair value hierarchy, which prioritizes the inputs used in measuring fair value as follows: ● Level 1 — Observable inputs that reflect quoted prices (unadjusted) for identical assets or liabilities in active markets. ● Level 2 — Include other inputs that are directly or indirectly observable in the marketplace. ● Level 3 — Unobservable inputs which are supported by little or no market activity. ASC 820 describes three main approaches to measuring the fair value of assets and liabilities: (1) market approach; (2) income approach and (3) cost approach. The market approach uses prices and other relevant information generated from market transactions involving identical or comparable assets or liabilities. The income approach uses valuation techniques to convert future cash flow amounts to a single present value amount. The measurement is based on the value indicated by current market expectations about those future amounts. The cost approach is based on the amount that would currently be required to replace an asset. Financial assets and liabilities of the Group primarily consisted of cash, accounts receivable, amounts due from related parties, other receivables included in prepaid expenses and other current assets, short-term borrowings, accounts payable, amounts due to related parties, other payables included in accrued expenses and other current liabilities. As of December 31, 2022 and 2023, the carrying amounts of financial instruments approximated to their fair values due to the short-term maturity of these instruments. The Group’s non-financial assets, such as property and equipment, would be measured at fair value only if they were determined to be impaired. (p) Revenue recognition Substantially all of the Group’s revenues are from contracts associated with freight forwarding services domestically and internationally. Additionally, the Group provides supply chain management to customers, by exploiting its advantages in global supply chain services. The following table identifies the disaggregation of the Group’s revenue for the years ended December 31, 2021, 2022 and 2023, respectively: FY 2021 FY 2022 FY 2023 Revenue Categories (RMB) % (RMB) % (RMB) (US$) % Type A: Freight forwarding services 488,036,905 89.5 % 577,567,025 88.6 % 342,582,431 48,368,903 68.8 % - Integrated cross-border logistics 390,229,299 71.5 % 444,335,722 68.2 % 219,651,690 31,012,423 44.1 % - Fragmented logistics 97,807,606 18.0 % 133,231,303 20.4 % 94,720,210 13,373,461 19.0 % - Chartered airline freight services - - - - 28,210,531 3,983,019 5.7 % Type B: Supply chain management 53,531,895 9.8 % 69,022,899 10.6 % 152,630,138 21,549,711 30.7 % - International trading in relation to supply chain management 52,974,861 9.7 % 68,878,594 10.6 % 152,544,744 21,537,654 30.7 % - Agent services 557,034 0.1 % 144,305 0.0 % 85,394 12,057 0.0 % Type C: Other services 4,024,697 0.7 % 5,401,669 0.8 % 2,655,631 374,946 0.5 % - Customs brokerage 2,750,027 0.5 % 4,098,297 0.6 % 2,544,116 359,201 0.5 % - Software development 1,274,670 0.2 % 1,303,372 0.2 % 111,515 15,745 0.0 % Total 545,593,497 100.00 % 651,991,593 100.00 % 497,868,200 70,293,560 100.0 % The following table presents revenue classified by timing of revenue recognition for the years ended December 31, 2021, 2022 and 2023, respectively. Year ended Year ended Year ended RMB RMB RMB US$ Point in time 53,531,895 71,448,443 158,069,415 22,317,678 Over time 492,061,602 580,543,150 339,798,785 47,975,882 Total revenue 545,593,497 651,991,593 497,868,200 70,293,560 Type A: Freight forwarding services The Group primarily engages in freight forwarding services, including integrated cross-border logistics, fragmented logistics, chartered airline freight services. For freight services, the Group fulfils its performance obligation by transporting freights from the origin to the destination, both are specified by customers, via air freight, ocean freight, and land freight. The Group considers that there is only one performance obligation as the customer cannot benefit from the facilitating services on its own but be bundled with the freight services since the customer’s purpose for entering into this contract is to transport goods from the origin to the destination. The transaction price is fixed when the contract was signed by both parties. This type of revenue is recognized over time based on the extent of progress towards completion of the performance obligation. The Group adopts the output method, which is based on the transit time period, to measure progress. For warehousing services, the Group is entitled to receive the service fees after it provides services to its customers. For storage fees, the Company normally charges monthly or daily. Therefore, the revenue for warehouse services are divided into two categories by timing of revenue recognition: 1. point in time: including labeling, packaging, loading and unloading services, and daily storage services. 2. over time: monthly storage services. The Group considers itself the principal for transactions that it is in control of establishing the transaction price, and it is responsible for managing all aspects of the shipments process and taking the risk of loss for delivery. Therefore, such revenues are reported on a gross basis. For certain contracts, the Group considers itself the agent for transactions that it cooperates with third-party carriers to arrange freight services. Third-party carriers signed the contracts with customers and were in control of establishing the transaction price, and were responsible for fulfilling the promise to provide freight services. Therefore, such revenues are reported on a net basis. The payment term is within 60 days after completion of freight forwarding services. Type B: Supply chain management The Group also engages in supply chain management, which includes international trading and agent services. The Group provides international trading, which sells electronic products through both export and import, by exploiting its advantages in global supply chain services and networks. The Group fulfils its performance obligation by transferring products to the designated location. In accordance with the Company’s customary business practices, once the products are delivered to the designated spot by its customers, the control of products has transferred, which indicates that the customer has the ability to direct the use of and obtain substantially all of the remaining benefits from the asset. The transaction price is fixed when the contract was signed by both parties. This type of revenue is recognized based on the product value specified in the contract at a point in time when the control of products has transferred. The Group considers itself the principal because it is in control of establishing the transaction price and bearing inventory risk. Therefore, such revenues are reported on a gross basis. In addition to international trading, the Group also provides agent services relates to export/import procedures, for example, application for duty-refund, customs brokerage services and so on. The Group fulfills its performance obligation by arranging export/import business for the customer, including but not limited to signing contracts with end customers on behalf of the customer and preparing customs brokerage and duty refund. This type of revenue is recognized at a point in time upon the completion of the agent services. The Group considers itself the agent because the Group is not primarily responsible for fulfilling the promise to provide the specified goods, neither bears the inventory risks. Therefore, such revenues are reported on a net basis. The payment term is within 60 days after completion of international trading and agent services. Type C: Other value-added services The Group also provides customs brokerage services, and logistics-related software development services. Customs brokerage services under Type C represents independent revenue stream, different from being one of the facilitating services of the freight forwarding business under Type A, or the facilitating services of the agent services under Type B under which those services are bundled as one performance obligation. The Group fulfils its performance obligation by providing customs brokerage services only. The transaction price is fixed when the contract was signed by both parties. This type of revenue is recognized at a point in time upon completion of services, usually within one day. The Group also generates revenues from logistics-related software development services. The Group identifies two performance obligations within the contract: the software development services and the maintenance services. The transaction price is allocated based on the stand-alone selling price for each type of service. The Group recognizes software development services revenue over time in proportionate to the relative labor hours over the total budgeted hours of the project. The Group also promises to provide one-year maintenance service after the above mentioned software has been launched. The Group recognizes maintenance services revenue over the service period of one year. Contract assets and liabilities In-transit freight with performance obligations recognized over time that have revenue recognized to date in excess of cumulative billings are reported on consolidated balance sheets as “Contract assets”. Contract assets are reviewed for impairment when events or changes in circumstances indicate that the carrying value may not be recoverable. Contract liabilities represents the obligation to transfer goods or services to a customer for which the entity has received consideration from the customer. Contract liabilities of the Group mainly consist of advance product payments from customers of international trading. The Group expects to recognize this balance as revenue over the next 12 months. The following table shows the amounts of revenue recognized in the current reporting period that were included in the contract liabilities at the beginning of the reporting period: 2021 2022 2023 RMB RMB RMB US$ Revenue recognized that was included in contract liabilities at the beginning of the reporting period: 1,908,488 7,851,588 1,989,310 280,869 Contract assets were RMB3,203,033, RMB4,460,046 and RMB2,023,221 (US$285,657 ) as of December 31, 2021, 2022 and 2023, respectively. Contract liabilities related to advance payments from customers were RMB7,851,588, RMB1,989,310 and RMB4,777,398 (US$674,519) as of December 31, 2021, 2022 and 2023, respectively. Contract costs Contract costs consists of incremental costs of obtaining a contract with customers, for example, sales commissions. The Group elects to use the practical expedient, allowing to recognize the incremental costs of obtaining a contract as a cost or an expense when incurred if the amortization period, usually the contractual period, would have been one year or less. (q) Cost of revenues Cost of revenues consist primarily of (i) cost of freight charges, (ii) cost of purchase for international trading, (iii) labor costs, (iv) cost of customs brokerage, (v) cost of packaging, (vi) cost of indemnity paid to carriers and (vii) cost of warehouse lease. Cost of freight charges consists of (i) airfreight/ocean freight/land freight charges, (ii) delivery fees, and (iii) other service fees. (r) Selling expenses Selling expenses mainly consist of (i) employee payroll and commission, (ii) advertising and marketing expenses, and (iii) rental and depreciation related to selling and marketing functions. (s) Advertising expenses Advertising costs amounted to RMB598,605, RMB2,724,575 and RMB1,316,881 (USD 185,929) for the years ended December 31, 2021, 2022 and 2023, respectively. Advertising costs are expensed as incurred and included in selling and marketing expenses. (t) General and administrative expenses General and administrative expenses mainly consist of (i) employee payroll, rental and depreciation related to general and administrative personnel, (ii) professional service fees, and (iii) other corporate expenses. (u) Research and development expenses Research and development expenses mainly consist of (i) employee payroll, (ii) lease expenses, and (iii) depreciation expense for experimental facilities and other daily expenses related to the Group’s research and development activities. (v) Financial expenses, net Financial expenses, net mainly consist of (i) interest expenses, (ii) foreign exchange gain or loss, and (iii) bank charges. The Group incurred interest expenses of RMB1,046,305, RMB795,144 and RMB995,162 (US$140,506) for the years ended December 31, 2021, 2022 and 2023, respectively. The Group incurred foreign exchange gain of RMB489,268 and RMB4,407,133 for the year ended December 31, 2021 and 2022, loss of RMB1,401,573 (US$197,887) for the years ended December 31, 2023, respectively. (w) Deferred offering costs Deferred offering costs consist of legal, accounting, underwriting fees and other costs incurred through the balance sheet date that are directly related to the initial public offering. These costs, together with the underwriting discounts and commissions, will be charged to permanent equity upon completion of the initial public offering. Should the initial public offering prove to be unsuccessful, these deferred costs, as well as additional expenses to be incurred, will be charged to expenses. For the year ended December 31, 2021, 2022 and 2023, the Group has incurred and deferred RMB898,870, RMB5,427,260 and RMB9,612,078 (US$1,357,121) of deferred offering costs, respectively. All deferred offering costs were transferred into additional paid in capital after the Group completed its IPO in April 2023. (x) Non-controlling interests On June 13, 2017, JYD HQ entered into an equity investment agreement with Mr. Mak Chun Pong, the shareholder of TYPHK, to acquire 67% of equity interest in TYPHK with HKD6,781. Since the Group retains the control of TYPHK, the remaining 33% of equity interest in TYPHK from the other shareholder, Cargo Link Logistics HK Company Limited, was accounted for as non-controlling interest. On October 30, 2021, JYD WLKJ entered into a joint venture agreement with Cargo Link Logistics HK Company Limited and Ms. Zheng Yan, to set up JYD SHWL. Since the Group retains control of JYD SHWL, the investment from Cargo Link Logistics HK Company Limited and Ms. Zheng Yan was accounted for as non-controlling interest. In November 2021, the Company acquired 33% non-controlling interests of JYD HKGJHY from Cargo Link Logistics HK Company Limited at the consideration of nil HKD47,844 In July 2022, JYD WLKJ entered into a joint venture agreement with Mr. He Pengtao, to set up JYD YCKJ. Since the Group retains control of JYD YCKJ, the investment from Mr. He Pengtao was accounted for as non-controlling interest. In July 2023, JYD XYX entered into a joint venture agreement with Mr. Wu Hailong, to set up JYD RHTD. Since the Group retains control of JYD RHTD, the investment from Mr. Wu Hailong was accounted for as non-controlling interest. As of December 31, 2022 and 2023, the balance of non-controlling interest is as following. Entity As of As of RMB RMB US$ TYPHK (72,220 ) (164,701 ) (23,254 ) JYD SHWL (890,560 ) (1,434,739 ) (202,569 ) JYD YCKJ (1,465,290 ) (9,304,266 ) (1,313,661 ) JYD RHTD - 3,277,031 455,622 Total (2,428,070 ) (7,676,674 ) (1,083,863 ) (y) Employee benefits According to the regulations of the PRC, full-time eligible employees of the Group in the PRC are entitled to various government statutory employee benefit plans, including medical insurance, maternity insurance, workplace injury insurance, unemployment insurance and pension benefits through a PRC government-mandated employee benefit plan. The Group is required to make contributions to the plan and accrues for these benefits based on certain percentages of the qualified employees’ salaries. The Group has no further commitments beyond its monthly contribution. Employee social benefits included as costs and expenses in the accompanying consolidated statements of income and comprehensive income amounted to RMB1,187,520, RMB2,170,805 and RMB2,575,438 (US$363,624) for the years ended December 31, 2021, 2022 and 2023, respectively. As of December 31, 2022 and 2023, the outstanding social insurance plan contributions payable were RMB20,960 and RMB251 (US$35), respectively. (z) Leases At inception of a contract, the Group assesses whether a contract is, or contains, a lease. A contract is or contains a lease if it conveys the right to control the use of an identified asset for a period of time in exchange of a consideration. To assess whether a contract is or contains a lease, the Group assess whether the contract involves the use of an identified asset, whether it has the right to obtain substantially all the economic benefits from the use of the asset and whether it has the right to control the use of the asset. The right-of-use assets and related lease liabilities are recognized at the lease commencement date. The Group recognizes operating lease expenses on a straight-line basis over the lease term. Leases with an initial term of 12 months or less are short-term lease and not recognized as operating lease right-of-use assets and operating lease liabilities on the consolidated balance sheet. The Group recognizes lease expense for short-term leases on a straight-line basis over the lease term. The right-of-use of asset is initially measured at cost, which comprises the initial amount of the lease liability adjusted for any lease payments made at or before the commencement date, plus any initial direct costs incurred and less any lease incentive received. Operating lease liabilities are recognized based on the present value of the lease payments not yet paid, discounted using the average borrowing rate of the Group’s outstanding loans. The lease assets for operating leases consist of the amount of the measurement of the lease liabilities and any prepaid lease payments. Operating lease expense is recognized on a straight-line basis over the lease term by adding interest expense determined using the effective interest method to the amortization of the operating lease right-of-use assets. Interest expense is determined using the effective interest method. The Group’s lease agreements do not contain any material residual value guarantees or material restrictive covenants. The Company’s lease terms may include options to extend or terminate the lease. Renewal options are considered within the ROU assets and lease liabilities when it is reasonably certain that the Company will exercise that option. Lease expenses for lease payments are recognized on a straight-line basis over the lease term. For operating leases with a term of one year or less, the Company has elected not to recognize a lease liability or ROU asset on its consolidated balance sheet. Instead, it recognizes the lease payments as expenses on a straight-line basis over the lease term. Short-term lease costs are immaterial to its consolida |
Going Concern
Going Concern | 12 Months Ended |
Dec. 31, 2023 | |
Going Concern [Abstract] | |
GOING CONCERN | 3. GOING CONCERN The Group has evaluated whether there are certain conditions and events, considered in the aggregate, that raise substantial doubt about the Group’s ability to continue as a going concern within one year after the date that the Consolidated Financial Statements were available to be issued. The Group has incurred a net loss of RMB80,275,344 (US$11,334,004) for the year ended December 31, 2023 with negative operating flows of RMB15,231,895 and RMB44,222,478 (US$6,243,734) for the year ended December 31, 2022 and 2023, respectively. As of December 31, 2023, there is net working capital deficit of RMB27,022,427 (US$3,815,273) and accumulated deficit of RMB77,454,208 (US$10,935,689). The Group has funded its operations and capital needs primarily through the net proceeds received from capital contributions, the issuance of related party loans and loans from third parties. As of the date of issuance of the consolidated financial statements, the Group has approximately $2.0 million of shareholder loan (see Note 19). The Group intends to continue implementing various measures to boost revenue and control the cost and expenses within an acceptable level and other measures including: (1) further enhance the customers bases and credit management in both freight forwarding and supply chain management operations; (2) improve the profitability of the business through more restricted vendor controls; (3) strictly control and reduce general and administration expenses; (4) obtain financing from certain shareholders in forms of long term loans; (5) obtain equity financing by issuance of new shares at public market and (6) seek for certain credit facilities. The Management plan cannot alleviate the substantial doubt of the Group’s ability to continue as a going concern. There can be no assurance that the Group will be successful in achieving its strategic plans, that the Group’s future capital raises will be sufficient to support its ongoing operations, or that any additional financing will be available in a timely manner or with acceptable terms, if at all. If the Group is unable to raise sufficient financing or events or circumstances occur such that the Group does not meet its strategic plans, the Group will be required to reduce certain discretionary spending, alter or scale development programs, or be unable to fund capital expenditures, which would have a material adverse effect on the Group’s financial position, results of operations, cash flows, and ability to achieve its intended business objectives. The accompanying consolidated financial statements do not include any adjustments that might result from the outcome of this uncertainty. Accordingly, the consolidated financial statements have been prepared on a basis that assumes the Group will continue as a going concern and which contemplates the realization of assets and satisfaction of liabilities and commitments in the ordinary course of business. |
Accounts Receivable, Net
Accounts Receivable, Net | 12 Months Ended |
Dec. 31, 2023 | |
Accounts Receivable, Net [Abstract] | |
ACCOUNTS RECEIVABLE, NET | 4. ACCOUNTS RECEIVABLE, NET Accounts receivable consisted of the following: As of December 31, December 31, 2022 2023 RMB RMB US$ Accounts receivable 32,098,662 51,478,092 7,268,146 Allowance for credit losses related to accounts receivable (1,185,328 ) (10,196,104 ) (1,439,579 ) Total accounts receivable, net 30,913,334 41,281,988 5,828,567 The movement of allowance of doubtful accounts is as follows: As of December 31, December 31, 2022 2023 RMB RMB US$ Beginning balance 682,905 1,185,328 167,355 Addition 700,505 9,745,364 1,375,938 Write off (198,082 ) (406,566 ) (57,402 ) Reverse - (328,022 ) (46,312 ) Ending balance 1,185,328 10,196,104 1,439,579 The Group recorded bad debt expenses (net of reversal) of RMB442,706, RMB700,505 and RMB9,417,342 (US$1,329,626) for the years ended December 31, 2021, 2022 and 2023, respectively. The Group had written off nil |
Prepaid Expenses and Other Curr
Prepaid Expenses and Other Current Assets, Net | 12 Months Ended |
Dec. 31, 2023 | |
Prepaid Expenses and Other Current Assets, Net [Abstract] | |
PREPAID EXPENSES AND OTHER CURRENT ASSETS, NET | 5. PREPAID EXPENSES AND OTHER CURRENT ASSETS, NET Prepaid expenses and other current assets consisted of the following: As of December 31, December 31, 2022 2023 RMB RMB US$ Advanced to suppliers (a) 2,222,046 1,602,310 226,229 Tax refund (b) 1,924,536 - - Deposits (c) 6,238,305 9,644,591 1,361,711 Tax/expenses paid on behalf of clients 413,304 3,182,361 449,315 Loan & interest receivable (d) - 3,845,273 542,911 Other receivables (e) 1,650,503 3,212,790 453,610 12,448,694 21,487,325 3,033,776 Allowance for credit losses related to prepaid expenses and other current assets (237,704 ) (8,973,447 ) (1,266,953 ) Total prepaid expenses and other receivables, net 12,210,990 12,513,878 1,766,823 (a) The balance mainly represents the advance payments made chartered airlines freight services and rent. (b) The balance mainly represents the tax refund JYD SM entitled from international trading business. The Group has recorded full allowance for the portion with doubt of collection. (c) The balance mainly represents the current operational deposits for lease and cargo space reservation to vendors. (d) The balance represents the principal and interests of the loan to Shenzhen Expecs Technology Co., Ltd. Refer to Note 8 for details. (e) The balance mainly represents the prepaid taxes and some advances to employees. The movement of allowance of doubtful accounts is as follows: As of December 31, December 31, 2022 2023 RMB RMB US$ Beginning balance 4,744,565 237,704 33,561 Addition 237,704 8,761,236 1,236,992 Write off (4,744,565 ) (25,493 ) (3,600 ) Ending balance 237,704 8,973,447 1,266,953 The Group recorded bad debt expenses of nil nil |
Property and Equipment, Net
Property and Equipment, Net | 12 Months Ended |
Dec. 31, 2023 | |
Property and Equipment, Net [Abstract] | |
PROPERTY AND EQUIPMENT, NET | 6. PROPERTY AND EQUIPMENT, NET Property and equipment, net consisted of the following: As of December 31, December 31, 2022 2023 RMB RMB US$ Motor vehicles 1,538,213 1,485,841 209,785 Electronic equipment 1,783,988 2,033,203 287,066 Machinery 1,119,594 1,139,270 160,853 Other equipment 1,041,034 1,413,753 199,607 Construction in progress - 655,987 92,617 Subtotal 5,482,829 6,728,054 949,928 Less: accumulated depreciation (2,869,565 ) (3,200,069 ) (451,815 ) 2,613,264 3,527,985 498,113 Less: impairment charges - (2,404,009 ) (339,420 ) Property and equipment, net 2,613,264 1,123,976 158,693 Depreciation expense was RMB545,048, RMB685,714 and RMB881,076 (US$124,398) for the years ended December 31, 2021, 2022 and 2023, respectively. During the year ended December 31, 2023, there was a triggering event of negative cash flow and operating losses at the freight forwarding and warehousing asset group level that indicated the carrying amounts of the Company’s long-lived assets may not be recoverable. In accordance with ASC 360, with regard to the long-lived assets, the Company performed an undiscounted cash flow analysis and concluded that the carrying value of the asset group was not recoverable. Accordingly, the Company then performed analysis to estimate the fair value of the other long -lived assets and recognized an impairment charge within operating expenses of RMB2.4 million (US$0.3 million) against the property and equipment by the amount by which the carrying value of the asset group’s long-lived assets exceeded their estimated fair value for the year ended December 31, 2023. Key assumptions utilized in the determination of far value include expected future cash flows and working capital requirements. While the Company believe the expectations and assumptions about the future are reasonable, they are inherently uncertain. No impairment charges were recognized during the year ended December 31, 2022. |
Intangible Assets, Net
Intangible Assets, Net | 12 Months Ended |
Dec. 31, 2023 | |
Intangible Assets, Net [Abstract] | |
INTANGIBLE ASSETS, NET | 7. INTANGIBLE ASSETS, NET Intangible assets, net consisted of the following: As of December 31, December 31, 2022 2023 RMB RMB US$ Software 1,438,175 2,096,218 295,963 Less: accumulated depreciation (680,216 ) (101,350 ) (14,309 ) Intangible assets, net 757,959 1,994,868 281,654 Amortization expense was RMB143,818, RMB162,950 and RMB250,720 (US$35,399) for the years ended December 31,2021,2022 and 2023, respectively. For the year ended December 31, 2023, the Company disposed software resulting in disposal loss of RMB 608,588. |
Prepayment for Acquisition
Prepayment for Acquisition | 12 Months Ended |
Dec. 31, 2023 | |
Prepayment for Acquisition [Abstract] | |
PREPAYMENT FOR ACQUISITION | 8. PREPAYMENT FOR ACQUISITION In May 2022, the Company entered into a term sheet with an intention to acquire Shenzhen Expecs Technology Co., Ltd. (“Expecs”) of which core business is to offer services of inspection assistance for China Customs and customs brokerage. The Company prepaid RMB3.6 million for the planned acquisition during 2022. In July 2023, the Company and Expecs signed a loan agreement and the prepayment became a one-year short term loan. In December 2023, the Company signed share purchase agreement and agreed to invest RMB4.5 million for 13.5% of the interest of Expecs before June 30, 2024. As of the date of the report, the Company has not made the investment payment yet. During the year ended December 31, 2023, Expecs had no operation and there was a substantial doubt of the recoverability of the loan to Expecs. Therefore, the Group recorded provision for credit losses against the full amount of the loan (including interests) of RMB3,845,273 (US$542,911). |
Short-Term Borrowings
Short-Term Borrowings | 12 Months Ended |
Dec. 31, 2023 | |
Short-Term Borrowings [Abstract] | |
SHORT-TERM BORROWINGS | 9. SHORT-TERM BORROWINGS Short-term borrowings represent amounts due to various banks normally maturing within one year. The principal of the borrowings is due at maturity. Accrued interest is due either monthly or quarterly. The bank borrowings are for working capital and capital expenditure purposes. The balance of short-term borrowings consists of the following: As of December 31, December 31, 2022 2023 RMB RMB US$ Bank of China Shenzhen Nantou Branch (a) - 6,300,000 889,493 Industrial and Commercial Bank of China (b) 3,000,000 3,000,000 423,567 Shenzhen Futian Yinzuo Rural Bank(c) 2,000,000 1,559,968 220,250 Bank of China Shenzhen Dongbu Branch (d) 9,800,000 5,000,000 705,945 Bank of China Shenzhen Dongbu Branch (e) - 3,000,000 423,567 Bank of Ningbo (f) - 6,743,530 952,113 Total 14,800,000 25,603,498 3,614,935 (a) On March 29, 2023, JYD WLKJ entered into a working capital loan agreement with Bank of China Shenzhen Nantou Branch in the total amount of RMB5,000,000(US$705,945) with one one (b) On March 15, 2020, JYD HQ initially entered into a loan agreement with Industrial and Commercial Bank of China in the total amount of RMB3,000,000 with a half-year term with an interest rate of 4.65%. The loan is subject to repayment and is eligible for renewal every six month. The loan is subject to repayment and is eligible for renewal every six month and the newest term was from September 2023 to March 2024. (c) On June 27, 2022, JYD WLKJ entered into a loan agreement with Shenzhen Futian Yinzuo Rural Bank in the total amount of RMB2,000,000 (US$282,378) with an interest rate of 10.512% with one-year term. The amount was repaid when it was due in June 2023. On July 5, 2023, JYD WLKJ entered into a new loan agreement with Shenzhen Futian Yinzuo Rural Bank in the total amount of RMB2,000,000 (US$282,378) with an interest rate of 10.512% with one-year term. As of December 31, 2023, RMB440,032 (US$62,128) was repaid, and RMB1,559,968 (US$220,250) was outstanding. (d) On November 14, 2022, JYD HQ entered into a one-year maturity loan agreement with Bank of China Shenzhen Dongbu Branch in the total amount of RMB10,000,000(US$1,411,891) with an interest rate of 4.34%. The loan was guaranteed by Shenzhen SME Financing Guarantee Co., LTD. and shareholders of the Group (Xiaogang Geng and Xiaohua Jia). JYD HQ has repaid RMB200,000 ( USD28,238 (e) On October 30 2023, JYD SZGJHY entered into a one-year maturity loan agreement with Bank of China Shenzhen Dongbu Branch in the total amount of RMB3,000,000(US$423,567) with an interest rate of 3.75%. (f) On November 14, 2023, JYD NJWL entered into a one-year maturity loan agreement with Bank of Ningbo in the total amount of USD1, 000,000 Interest expenses were RMB343,544, RMB483,727 and RMB649,517 (US91, 705 |
Accrued Expenses and Other Curr
Accrued Expenses and Other Current Liabilities | 12 Months Ended |
Dec. 31, 2023 | |
Accrued Expenses and Other Current Liabilities [Abstract] | |
ACCRUED EXPENSES AND OTHER CURRENT LIABILITIES | 10. ACCRUED EXPENSES AND OTHER CURRENT LIABILITIES As of December 31, December 31, 2022 2023 RMB RMB US$ Accrued payroll and employee benefits 2,089,072 3,416,836 482,420 Payable to third parties (a) 1,209,742 1,818,200 256,710 Deposit payable 619,786 2,017,770 284,887 Others 299,132 233,075 32,908 Total 4,217,732 7,485,881 1,056,925 (a) The balance mainly represents the payables for acquiring services for daily operations such as property fees, rent and utility bills as well as professional and consulting services as of December 31, 2022 and 2023. |
Loans Payable - Third Parties
Loans Payable - Third Parties | 12 Months Ended |
Dec. 31, 2023 | |
Loans Payable - Third Parties [Abstract] | |
LOANS PAYABLE - THIRD PARTIES | 11. LOANS PAYABLE - THIRD PARTIES On December 13, 2023, the Company borrowed a loan from Boknap Logistics(HK) Ltd. of RMB2,833,080 (USD400,000) for 18 months with interest rate of 6%. |
Leases
Leases | 12 Months Ended |
Dec. 31, 2023 | |
Leases [Abstract] | |
LEASES | 12. LEASES Supplemental balance sheet information related to operating lease was as follows: As of December 31, December 31, 2022 2023 RMB RMB US$ Right-of-use assets 31,403,688 12,237,211 1,728,505 Less: impairment - (3,244,676 ) (458,857 ) Right-of-use assets 31,403,688 8,992,535 1,269,648 Operating lease liabilities – current 18,079,265 8,806,671 1,243,406 Operating lease liabilities – non-current 13,276,535 5,216,622 736,530 Total operating lease liabilities 31,355,800 14,023,293 1,979,936 The weighted average remaining lease terms and discount rates for the operating lease as of December 31, 2023 were as follows: Remaining lease term and discount rate: Weighted average remaining lease term (years) 2.33 Weighted average discount rate 4.2 % A summary of lease expenses recognized in the consolidated statements of operations as of December 31, 2023 and supplemental cash flow information related to operating leases were as follows: As of December 31, December 31, 2022 2023 RMB RMB US$ Lease expense Operating lease expense - third party 10,933,292 10,148,284 1,432,827 Short-term lease expense - 15,056,781 2,125,853 Sublease income (1) - (707,009 ) (99,822 ) Total lease expense 10,933,292 24,498,055 3,458,858 Other information Cash paid for operating leases 8,543,549 1,206,256 Right-of-use assets obtained in exchange for operating new lease liabilities 35,873,660 15,838,886 2,236,278 * (1) For the year ended December 31, 2023, the Group incurred sublease income of RMB 707,009 (US$99,822), and sublease cost of RMB 858,098 (US$121,154). For the years ended December 31, 2021, 2022 and 2023, the Group incurred total operating lease expenses of RMB3,498,048, RMB10,933,292 and RMB24,498,055 (US$ 3,458,858) respectively. The following is a schedule of future minimum payments under the Group’s operating leases as of December 31, 2023: Year Amounts RMB US$ 2024 9,206,946 1,299,920 2025 3,510,711 495,674 2026 581,689 82,128 2027 539,727 76,204 2028 334,122 47,174 Thereafter 558,808 78,898 Total lease payments 14,732,003 2,079,998 Less: imputed interest 708,710 100,062 Total operating lease liabilities, net of interest 14,023,293 1,979,936 The Company recognized a lease termination loss of RMB 478,933, which is included in Lease termination loss on the Consolidated Statement of Operations and Comprehensive Income / (Loss) for the year ended December 31, 2023, related to the early termination of warehouse. |
Long-Term Borrowing
Long-Term Borrowing | 12 Months Ended |
Dec. 31, 2023 | |
Long-Term Borrowing [Abstract] | |
LONG-TERM BORROWING | 13. LONG-TERM BORROWING Long-term borrowing represents the amount due to various banks normally maturing over one year. The principal of the borrowings is due at maturity. Accrued interest is due either monthly or quarterly. The bank borrowings are for working capital and capital expenditure purposes. On December 23, 2022, JYD SM entered into a loan agreement with Postal Savings Bank of China in the total amount of RMB5,000,000(US$705,945) with an interest rate of 4.15%. The loan was guaranteed by Shenzhen SME Financing Guarantee Co., LTD. and shareholders of the Group (Xiaogang Geng and Xiaohua Jia). According to the loan agreement, RMB50,000(US$7,059) will be paid monthly starting from January 2023 until December 2024, and remaining balance of RMB3,800,000 (US$536,519) will be paid at the end of the loan term. As of December 31, 2023, RMB600,000 (US$84,713) was repaid, and RMB4,400,000 (US$621,232) was outstanding. Interest expenses were RMB197,103, RMB172,578 and RMB192,755 (US$27,215) for long-term borrowings for the years ended December 31, 2021, 2022 and 2023, respectively. |
Taxation
Taxation | 12 Months Ended |
Dec. 31, 2023 | |
Taxation [Abstract] | |
TAXATION | 14. TAXATION Cayman Islands The Company is incorporated in the Cayman Islands. Under the current laws of the Cayman Islands, these entities are not subject to income or capital gains taxes. In addition, dividend payments are not subject to withholding tax in the Cayman Islands. Hong Kong Entities incorporated in Hong Kong are subject to profits tax in Hong Kong at the rate of 16.5%. According to Tax (Amendment) (No. 3) Ordinance 2018 published by Hong Kong government, effective April 1, 2018, under the two-tiered profits tax rates regime, the profits tax rate for the first HKD2 PRC Generally, the Company’s subsidiaries that are considered PRC resident enterprises under PRC tax law, are subject to enterprise income tax on their worldwide taxable income as determined under PRC tax laws and accounting standards at a rate of 25%. For the year ended December 31, 2021, JYD WLKJ, JYD SZGJHY, JYD SM, JYD XC, JYD BG, JYD XYX, JYD NJWL, JYD DS, JYD SHWL were recognized as small low-profit enterprises and there was one additional subsidiary, JYD YCKJ, was recognized as small low-profit enterprise for the year ended December 31, 2022. For the year ended December 31, 2022, JYD WLKJ changed to be a general taxpayer whose applicable tax rate is 25.0% and other subsidiaries remained unchanged. For the year ended December 31, 2023, JYD RHTD, a newly set up subsidiary, was recognized as a general taxpayer whose applicable tax rate is 25.0% and other subsidiaries remained unchanged. Entities with annual taxable income exceeding RMB3,000,000, total assets exceeding RMB50,000,000, and their number of employees exceeding 300 are considered general taxpayer. From January 1, 2021 to December 31, 2021, 12.5% of the first RMB 1.0 million of the assessable profit before tax is subject to preferential tax rate of 20% and the 50% of the assessable profit before tax exceeding RMB 1.0 million but not exceeding RMB 3.0 million is subject to preferential tax rate of 20%. From January 1, 2022 to December 31, 2022, 12.5% of the first RMB 1.0 million of the assessable profit before tax is subject to preferential tax rate of 20% and the 25% of the assessable profit before tax exceeding RMB 1.0 million but not exceeding RMB 3.0 million is subject to preferential tax rate of 20%. From January 1, 2023 to December 31, 2027, 25% of the first RMB 3.0 million of the assessable profit before tax is subject to the tax rate of 20% for the Company’s subsidiaries that are qualified as “Small Low-profit Enterprises”. The income tax provision consisted of the following components: For the years ended December 31, 2021 2022 2023 RMB RMB RMB US$ Current income tax expenses 839,107 2,465,462 99,155 14,000 Deferred income tax expense (benefit) 864,072 116,755 (2,907,145 ) (410,457 ) Total income tax expenses (benefit) 1,703,179 2,582,217 (2,807,990 ) (396,458 ) For the years ended December 31, 2021 2022 2023 RMB RMB RMB US$ Income / (loss) before provision for income taxes is attributable to the following geographic locations: PRC 12,016,517 8,630,868 (76,778,965 ) (10,840,353 ) Foreign (89,670 ) (4,670,754 ) (6,304,369 ) (890,109 ) Total Income/(loss) before Income Taxes 11,926,847 3,960,114 (83,083,334 ) (11,730,462 ) Reconciliation between the provision for income taxes computed by applying the PRC EIT rate of 25% to income before income taxes and the actual provision of income taxes is as follows: For the years ended December 31, 2021 2022 2023 PRC statutory income tax rate 25.0 % 25.0 % (25.0 )% Impact of different tax rates in other jurisdictions 0.0 % 22.3 %. 1.1 % Effect of preferential tax rate (6.4 )% 53.3 % 7.9 % Non-deductible (Non-taxable) items 0.9 % 0.9 % 0.1 % Effect of additional R&D deduction 0.0 % (9.0 )% 0.0 % Tax effect on deferred offering costs (1.9 )% (32.3 )% (0.6 )% Change in valuation allowance (3.3 )% 5.0 % 13.1 % Effective tax rate 14.3 % 65.2 % (3.4 )% The effect on deferred offering costs mainly resulted from the book-tax difference of capitalization for initial public offerings expenses. The deferred offering costs are deductible under PRC tax regulation. As of December 31, 2022 and 2023, the significant components of the deferred tax assets and deferred tax liability were summarized below: As of December 31, December 31, RMB RMB US$ Deferred tax assets: Net operating loss carried forward 1,750,257 10,843,551 1,530,991 Bad debt provision 96,568 3,801,660 536,753 Impairment charges - 963,398 136,021 Lease liability - 818,974 115,630 Less: Valuation allowance (1,825,262 ) (12,738,069 ) (1,798,476 ) Deferred tax assets, net of valuation allowance 21,563 3,689,514 520,919 The movement of valuation allowance is as follows: As of December 31, December 31, 2022 2023 RMB RMB US$ Beginning balance 1,625,548 1,825,262 257,707 Addition 197,431 10,907,213 1,539,980 Foreign exchange impact 2,283 5,594 789 Ending balance 1,825,262 12,738,069 1,798,476 Valuation allowances have been provided on the deferred tax assets where, based on all available evidence, it was considered more likely than not that some portion of the recorded deferred tax assets will not be realized in future periods. As of December 31, December 31, 2022 2023 RMB RMB US$ Deferred tax liabilities: Right of use assets - (760,806 ) (107,418 ) Total deferred tax liabilities - (760,806 ) (107,418 ) Total deferred tax assets, net 21,563 2,928,708 413,501 As of December 31, 2023, net operating loss carry forward will expire, if unused, in the following amounts: For the fiscal years ended December 31, Amounts 2024 2,206,569 2025 3,196,752 2026 395,107 2027 12,468,752 2028 48,064,350 66,331,529 The Group evaluates each uncertain tax position (including the potential application of interest and penalties) based on the technical merits, and measure the unrecognized benefits associated with the tax positions. As of December 31, 2022 and 2023, the Group did not have any significant unrecognized uncertain tax positions. Net operating loss from Hong Kong can be carried forward indefinitely. The Group’s taxes payable consists of the following: As of December 31, December 31, RMB RMB US$ Income tax payable 1,768,285 163,527 23,088 VAT and other taxes payable 362,148 349,670 49,370 Total taxes payable 2,130,433 513,197 72,458 |
Equity
Equity | 12 Months Ended |
Dec. 31, 2023 | |
Equity [Abstract] | |
EQUITY | 15. EQUITY Ordinary shares The Company’s authorized share capital comprises of (i) 480,000,000 Class A ordinary shares of par value US$0.0001 each and (ii) 20,000,000 Class B ordinary shares of par value US$0.0001 each. On June 10, 2022, the Company issued 9,420,000 Class A ordinary shares and 6,409,600 Class B ordinary shares. On September 6, 2022, the Company issued another 1,370,400 Class A ordinary shares which issuance was considered as being part of the reorganization of the Group and was retroactively applied as if the transaction occurred at the beginning of the period presented. On September 7, 2022, the Company granted 800,000 Class A ordinary shares to its financial advisory consultant as the consideration in the form of bonus with a performance condition of a successful initial public offering (“IPO”) under the professional financial advisory services originally agreed in 2022. Granted shares shall be subject to a right of repurchase by the Company for nil On February 16, 2023, Jayud implemented a 1 for 1.25 reverse share split of its ordinary shares under Cayman Islands law (the “Reverse Share Split”). As a result of the Reverse Share Split, the total of 13,590,400 issued and outstanding Class A ordinary shares prior to the Reverse Share Split was reduced to a total of 10,872,320 issued and outstanding Class A ordinary shares and the total of 6,409,600 issued and outstanding Class B ordinary shares prior to the Reverse Share Split was reduced to a total of 5,127,680 issued and outstanding Class B ordinary shares. The Reverse Share Split maintained existing shareholders’ percentage ownership interests in Jayud. The Reverse Share Split also increased the par value of Jayud’s ordinary shares from $0.0001 to $0.000125 and decreased the number of its authorized shares from 500,000,000 to 400,000,000, which are divided into 384,000,000 Class A ordinary shares and 16,000,000 Class B ordinary shares. On March 16, 2023, the Company implemented a 1 to 1.25 forward share split of its ordinary shares under Cayman Islands Law, or the Forward Share Split. As a result of the Forward Share Split, the total of 10,872,320 issued and outstanding Class A ordinary shares prior to the Forward Share Split was increased back to a total of 13,590,400 issued and outstanding Class A ordinary shares, and the total of 5,127,680 issued and outstanding Class B ordinary shares prior to the Forward Share Split was increased back to a total of 6,409,600 issued and outstanding Class B ordinary shares. The Forward Share Split maintained existing shareholders’ percentage ownership interests in Jayud. The Forward Share Split also reduced the par value of Jayud’s ordinary shares from $0.000125 back to $0.0001, and increased the number of authorized shares from 400,000,000 back to 500,000,000, which are divided into 480,000,000 Class A ordinary shares and 20,000,000 Class B ordinary shares. In April 2023, the Company completed initial public offering and listed its Class A ordinary shares on the Nasdaq Capital Market under the symbol “JYD.” The Company raised approximately US$4.86 million in net proceeds at US$ 4 per share from the issuance of 1,250,000 new Class A ordinary shares from the initial public offering and 102,223 new Class A ordinary shares from partial exercise of over-allotment option by its underwriter after deducting underwriting discounts, commissions and expenses. As of December 31, 2022 and 2023, 13,590,400 and 14,942,623 Class A Ordinary shares were issued and outstanding, respectively; 6,409,600 Class B Ordinary shares were issued and outstanding. Subscription receivable On September 9, 2022, the Company entered into a share subscription agreement with various third party investors for 2,000,000 Class A ordinary shares at the consideration of $5,000,000. The price was negotiated with investors, based on the company’s performance at that time. Since the consideration was not received as of December 31, 2022 for the 2,000,000 shares issued, a subscription receivable was recognized against the share capital and additional paid-in capital. The Company received the consideration in January and February 2023. And the consideration received was paid as the payment to the Initial Shareholders in January and February 2023. Warrant On April 25, 2023, the Company issued warrants to its underwriter to purchase up to 37,500 Class A ordinary shares. The warrants have an exercise price of US$4.00 per share and may be exercised on a cashless basis. The warrants are exercisable beginning September 27, 2023 and ending March 31, 2028. The value of the warrant was evaluated by a third party appraiser, and amounted to RMB360,874 (US$50,591). Capital injection by shareholders In March and April 2022, shareholders of JYD WLKJ made capital injection of RMB24,680,000 (US$3,484,547) to JYD WLKJ. Capital injection by non-controlling shareholder In September 2022, the non-controlling shareholder of JYD YCKJ made a capital injection of RMB200,000 (US$28,238) to JYD YCKJ. In September 2023, the non-controlling shareholder of JYD RHTD made a capital injection of RMB2,450,000 (US$345,913) to JYD RHTD. Dividend In February and March 2022, JYD DS, JYD WLKJ, and HQ declared dividend to their shareholders with total amount of RMB 18,770,000 (US$2,650,119). Out of the total dividend declared, RMB6,839,000 (US$965,592) was inter-group dividend, and RMB11,931,000 (US$1,684,527) was to individual shareholders. During the year ended December 31, 2022 and 2023, RMB4,993,500 and nil Restricted net assets A significant portion of the Group’s operations are conducted through its PRC (excluding Hong Kong) subsidiaries, the Company’s ability to pay dividends is primarily dependent on receiving distributions of funds from subsidiaries. Relevant PRC statutory laws and regulations permit payments of dividends by subsidiaries only out of their retained earnings, if any, as determined in accordance with PRC accounting standards and regulations, and after it has met the PRC requirements for appropriation to statutory reserves. The Group is required to make appropriations to certain reserve funds, comprising the statutory surplus reserve and the discretionary surplus reserve, based on after-tax net income determined in accordance with generally accepted accounting principles of the PRC (“PRC GAAP”). Appropriations to the statutory surplus reserve are required to be at least 10% of the after-tax net income determined in accordance with PRC GAAP until the reserve is equal to 50% of the entity’s registered capital. Appropriations to the surplus reserve are made at the discretion of the Board of Directors. Paid-in capital of subsidiaries included in the Company’s consolidated net assets are also non-distributable for dividend purposes. As a result of these PRC laws and regulations, the Company’s PRC subsidiaries are restricted in their ability to transfer a portion of their net assets to the Company. As of December 31, 2023, net assets restricted in the aggregate, which include paid-in capital, additional paid-in capital and statutory reserve funds of the Company’s subsidiaries, that are included in the Company’s consolidated net assets were approximately RMB5.8 million (US$0.8 million), respectively. |
Related Party Balances and Tran
Related Party Balances and Transactions | 12 Months Ended |
Dec. 31, 2023 | |
Related Party Balances and Transactions [Abstract] | |
RELATED PARTY BALANCES AND TRANSACTIONS | 16. RELATED PARTY BALANCES AND TRANSACTIONS Accounts receivable - related parties As of December 31, 2022 and 2023, accounts receivable from a related party consisted of the following: Name Relationship Nature As of As of RMB RMB US$ Shenzhen Feijia Supply Chain Management Co., Ltd 43% shares owned by JYD YCKJ’s 48% interest minor shareholder Logistic services 1,676,016 - - 1,676,016 - - As of December 31, 2022 and 2023, other receivable from related parties consisted of the following: Name Relationship Nature As of As of RMB RMB US$ Winpass Logistics (HK) Co., Limited (“Winpass”) 100% controlled by Xiaohua Jia Net collection on behalf of the Group - 125,049 17,656 Shenzhen Zhongshun Jiean Estate Management Co., Ltd 90% owned by Bao BingBing, management of JYD NJWL Rent deposit - 39,809 5,620 - 164,858 23,276 For the year ended December 31, 2021, Winpass paid on behalf of Jayud in a total amount of RMB16,467,687 and collected a total amount of RMB18,601,890. For the year ended December 31, 2022, Winpass paid on behalf of Jayud in a total amount of RMB4,608,483 and collected a total amount of RMB 4,606,87 Accounts payable - related parties As of December 31, 2022 and 2023, accounts payable to related parties consisted of the following: Name Relationship Nature As of As of RMB RMB US$ Winpass Logistics (HK) Co., Limited 100% controlled by Xiaohua Jia Logistic services 240,175 418,266 59,055 Cargo Link Logistics HK Company Limited Owns 33% of shares of Sky Pacific Logistics HK Company Limited Logistic services 7,185,009 6,248,192 882,176 7,425,184 6,666,458 941,231 Loans payable - a related party As of December 31, 2022 and 2023, loan payable to a related party consisted of the following: Name Relationship Nature As of As of RMB RMB US$ Xi’an Renrui Hydroacoustic Technology Engineering Co., Ltd (“Renrui”) 40% owned by Bin Li Loan - 3,000,000 423,567 - 3,000,000 423,567 On November 15, 2023, Jayud borrowed a short-term loan from Renrui of RMB3,000,000 (US$423,567) with interest of RMB30,000. The Group recorded an interest expense of RMB24,643(US$3,479) for the loan in 2023. The principle and interests were fully repaid in January 2024. Other payable - related parties As of December 31, 2022 and 2023, other payable to related parties consisted of the following: Name Relationship Nature As of As of RMB RMB US$ Winpass Logistics (HK) Co., Limited 100% controlled by Xiaohua Jia Net payments on behalf of the Group 1,371,882 - - Cargo Link Logistics HK Company Limited Owns 33% of shares of Sky Pacific Logistics HK Company Limited Net payments on behalf of the Group (a) 663,976 686,609 96,941 Bin Li Management of JYD SXGYL Interest Payable (b) 441,800 30,000 4,236 Xi’an Renrui Hydroacoustic Technology Engineering Co., Ltd (“Renrui”) 40% owned by Bin Li Interest Payable (b) - 24,643 3,479 Shenzhen Zhongshun Jiean Estate Management Co., Ltd (“Zhongshun”) 90% owned by BingBing Bao, management of JYD NJWL Rent payable (c) - 7,775,393 1,097,801 2,477,658 8,516,645 1,202,457 (a) For the years ended December 31, 2021 and 2022, Cargo Link paid on behalf of the Group in a total amount of RMB364,588 and RMB153,101, respectively. The balance change from 2022 to 2023 of RMB12,185 (US$1,720) was mainly due to foreign exchange differences., (b) On November 15, 2023, the Group borrowed short-term loans from Li Bin and Renrui each of RMB3,000,000 (US$423,567), with loan term of 20 days and 55 days, respectively. Interest was RMB30,000 for each loan. The principal of RMB3,000,000 ( USD423,567 (c) In May 2023, the Group signed a 7-month lease agreement with Zhongshun for its offices and warehouses. As of December 31, 2023, rent payable of RMB7,775,393 (US$1,097,801) was outstanding. Other payable – shareholders As of December 31, 2022 and 2023, other payable to shareholders consisted of the following: Name Relationship Nature As of As of RMB RMB US$ Xiaogang Geng Shareholder and CEO Interest of shareholder loan - 16,465 2,325 Xiaogang Geng Shareholder and CEO Dividend 6,225,000 - - Xiaohua Jia Shareholder Dividend 712,500 - - Qing Wang Shareholder Business Reimbursement Payable 43,336 20,564 2,903 6,980,836 37,029 5,228 Loans payable – a shareholder As of December 31, 2022 and as of December 31, 2023, loans payable to shareholders consisted of the following: Name Relationship Nature As of As of RMB RMB US$ Xiaogang Geng Shareholder and CEO Loan (a) - 823,265 116,236 - 823,265 116,236 In August 2023, the Group borrowed a total amount of RMB823,265(US$116,236) with 6% interests from Geng Xiaogang. The principal and accumulated interest will be repaid when the loan is due in February 2025. Other payable – shareholders - non-current As of December 31, 2022 and 2023, other payable to shareholders consisted of the following: Name Relationship Nature As of As of RMB RMB US$ Xiaogang Geng Shareholder and CEO Dividend - 6,225,000 878,902 Xiaohua Jia Shareholder Dividend - 712,500 100,597 - 6,937,500 979,499 Shareholder transaction For the years ended December 31, 2021, 2022 and 2023, the Group had the following material shareholder transaction: For the years ended December 31, Shareholder Nature 2021 2022 2023 RMB RMB RMB US$ Dun Zhao (Director and CMO) Interest expenses of a loan 40,000 20,000 - - Xiaogang Geng Interest expenses of a loan - - 16,465 2,325 Related party transactions For the years ended December 31, 2021, 2022 and 2023, the Group had the following material related party transactions: For the years ended December 31, Related Parties Relationship Nature 2021 2022 2023 RMB RMB RMB US$ Winpass Logistics (HK) Co., Limited 100% controlled by Xiaohua Jia Purchase of logistic services 4,514,552 1,386,915 549,714 77,614 Cargo Link Logistics HK Company Limited Owns 33% of shares of Sky Pacific Logistics HK Company Limited Purchase of logistic services 185,858,692 121,455,797 62,063,334 8,762,666 Cargo Link Logistics HK Company Limited Owns 33% of shares of Sky Pacific Logistics HK Company Limited Provided logistic services 14,141,548 462,740 - - Cargo LINK Logistics (SHENZHEN) Company Limited Owns 33% of shares of Sky Pacific Logistics HK Company Limited Purchase of logistic services 2,672,803 - - - Shenzhen Feijia Supply Chain Management Co., Ltd 43% shares owned by JYD YCKJ’s 48% interest minor shareholder Provided logistic services - 2,078,746 196,575 27,754 Shenzhen Feijia Supply Chain Management Co., Ltd 43% shares owned by JYD YCKJ’s 48% interest minor shareholder Purchase of equipment - 441,800 108,407 15,306 Shenzhen Feijia Supply Chain Management Co., Ltd 43% shares owned by JYD YCKJ’s 48% interest minor shareholder Penalty for early termination of lease 835,527 117,967 Xi’an Renrui Hydroacoustic Technology Engineering Co., Ltd 40% owned by Bin Li Provided logistic services - - 4,749 670 Shenzhen Zhongshun Jiean Estate Management Co., Ltd 90% owned by Bao BingBing, management of JYD NJWL Rent of offices and warehouses - - 14,469,603 2,042,950 Minfang Cheng Legal representative of JYD XYX Interest expenses of a loan 12,000 6,000 - - Bin Li Supervisor of JYD SXGYL Interest expenses of a loan - - 30,000 4,236 Xi’an Renrui Hydroacoustic Technology Engineering Co., Ltd 40% owned by Bin Li Interest expenses of a loan - - 24,643 3,479 |
Concentration
Concentration | 12 Months Ended |
Dec. 31, 2023 | |
Concentration [Abstract] | |
CONCENTRATION | 17. CONCENTRATION The following table sets forth information as to each customer that accounted for 10% or more of total accounts receivable as of December 31, 2022 and 2023. As of As of Customer Amount % of Total Amount % of Total Amount RMB % RMB % US$ A 4,393,790 13.0 % 7,025,390 17.0 % 991,908 B 4,376,768 13.0 % * * * * Represented the percentage below 10% The following table sets forth information as to each customer that accounted for 10% or more of total revenue for the years ended December 31, 2021, 2022 and 2023. For the year ended For the year ended For the year ended 2021 2022 2023 Customer Amount % of Total Amount % of Total Amount % of Total Amount RMB RMB RMB US$ C * * 117,415,978 18.0 % * * * B 71,419,145 13.1 % 73,423,394 11.3 % * * * D * * * * 61,254,669 12.3 % 8,648,491 E * * * * 60,840,708 12.2 % 8,590,044 * Represented the percentage below 10% The following table sets forth information as to each supplier that accounted for 10% or more of total accounts payable as of December 31, 2022 and 2023. As of As of December 31, December 31, Supplier Amount % of Total Amount % of Total Amount RMB RMB % US$ Cargo Link Logistics HK Company Limited 7,185,007 28.1 % 6,248,193 13.5 % 870,270 A 3,261,998 12.8 % * * * B * * 9,302,019 20.0 % 1,313,344 C * * 6,801,207 14.6 % 960,256 * Represented the percentage below 10% The following table sets forth information as to each supplier that accounted for 10% or more of total purchase for the years ended December 31, 2021, 2022 and 2023. For the year ended For the year ended For the year ended 2021 2022 2023 Supplier Amount % of Total Amount % of Total Amount % of Total Amount RMB RMB RMB % US$ D * * 122,901,742 20.0 % * * * Cargo Link Logistics HK Company Limited 185,858,692 36.4 % 121,455,797 19.8 % 62,063,334 12.1 % 8,762,666 E * * * * 60,165,266 11.7 % 8,494,679 F * * * * 56,607,369 11.0 % 7,992,343 * Represented the percentage below 10% |
Commitments and Contingencies
Commitments and Contingencies | 12 Months Ended |
Dec. 31, 2023 | |
Commitments and Contingencies [Abstract] | |
COMMITMENTS AND CONTINGENCIES | 18. COMMITMENTS AND CONTINGENCIES The Group has not entered into any off-balance sheet financial guarantees or other off-balance sheet commitments to guarantee the payment obligations of any third parties. The Company has not entered into any derivative contracts that are indexed to the company’s shares and classified as shareholder’s equity or that are not reflected in the Company’s consolidated financial statements. Furthermore, the Company does not have any retained or contingent interest in assets transferred to an unconsolidated entity that serves as credit, liquidity or market risk support to such entity. The Company does not have any variable interest in any unconsolidated entity that provides financing, liquidity, market risk or credit support to us or engages in leasing, hedging or product development services with us. The following table sets forth the Company’s contractual obligations as of December 31, 2023: Payments due by period Total Within Within Over RMB Operating lease payment 14,023,293 8,806,671 3,405,098 1,811,524 Bank borrowings 30,003,498 30,003,498 - - Loan from a related party 3,000,000 3,000,000 - - Loans from a third party 2,833,080 - 2,833,080 - Loan from a shareholder 823,265 - 823,265 - Total 50,683,136 41,810,169 7,061,443 1,811,524 Other than as shown above, the Company did not have any significant capital and other commitments, long-term obligations, or guarantees as of December 31, 2023. |
Subsequent Events
Subsequent Events | 12 Months Ended |
Dec. 31, 2023 | |
Subsequent Events [Abstract] | |
SUBSEQUENT EVENTS | 19. SUBSEQUENT EVENTS Qingdao Oranda Supply Chain Management Co., Ltd. Acquisition In January 2024, the Group acquired a 51% stake in Qingdao Oranda Supply Chain Management Co., Ltd. (“Oranda”), a company based in Qingdao, Shandong. Oranda is known for its competitive pricing and utilization of ship-owner resources, offering comprehensive logistics services including cargo identification, transportation, warehousing, customs clearance, and insurance. The purchase price is contingent on Oranda’s performance, with a mix of cash and the Group’s Class A ordinary shares to be paid in 2027, based on Oranda’s average net profit until December 31, 2026. Shenzhen Jiniu International Logistics Co., Ltd. Acquisition In January 2024, the Group acquired a 51% stake in Shenzhen Jiniu International Logistics Co., Ltd. (“Jiniu”), located in Shenzhen. Specializing in supply chain management and logistics services, particularly for the Middle East trade lane, Jiniu offers a range of services from cargo transportation to technology export. The final purchase price will be determined by Jiniu’s performance and paid in a combination of cash and the Group’s Class A ordinary shares in 2027, based on Jiniu’s average net profit until the end of 2026. HK(FASTFLY)International Logistics Co.,Limited Acquisition In April 2024, the Group acquired a 51% stake in HK(FASTFLY)International Logistics Co.,Limited (“FASTFLY”) with no consideration. Jiniu’s 49% shareholder acquired 49% of FASTFLY with no consideration. FASTFLY will deal with overseas orders for Jiniu. Third Party Loans In January 2024, the Group signed a loan agreement with a third party in order to facilitate the equipment sales business. According to the loan agreement, the third party is entitled to borrow up to RMB21 million (US$ 2,964,971) with an annual interest rate of 4.5% by April 30, 2024. During the loan agreement period, RMB20.5 million (US$ 2,894,376) was borrowed and the full amount was repaid in April 2024. Shareholder Loans From January to early April 2024, four shareholders of the Group provided loans in total amount of RMB13,935,734 (US$1,967,574). All loans are due in 18 months with 6% interest. |
Condensed Financial Information
Condensed Financial Information of the Parent Company | 12 Months Ended |
Dec. 31, 2023 | |
Condensed Financial Information of the Parent Company [Abstract] | |
CONDENSED FINANCIAL INFORMATION OF THE PARENT COMPANY | 20. CONDENSED FINANCIAL INFORMATION OF THE PARENT COMPANY The Company performed a test on the restricted net assets of consolidated subsidiary in accordance with U.S. Securities and Exchange Commission Regulation S-X Rule 4-08 (e) (3), “General Notes to Financial Statements” and concluded that it was applicable for the Company to disclose the financial statements for the parent company. The condensed financial information of the parent company, Jayud, has been prepared using the same accounting policies as set out in Jayud’s consolidated financial statements except that the parent company has used equity method to account for its investment in its subsidiaries. Jayud’s share of income and losses from its subsidiaries is reported as incomes from subsidiaries in the accompanying condensed financial information of parent company. Jayud is incorporated in the Cayman Islands. Under the current laws of the Cayman Islands, Jayud is not subject to income or capital gains taxes. In addition, dividend payments are not subject to withholdings tax in the Cayman Islands. Jayud did not have significant capital and other commitments, long-term obligations, or guarantees as of December 31, 2022 and 2023. Condensed balance sheets As of As of 2022 2023 RMB RMB US$ Assets Current assets Cash - 572,709 80,860 Due from subsidiaries - 22,494,815 3,176,023 Total current assets - 23,067,524 3,256,883 Non-current assets Investments in subsidiaries 33,325,657 - - Total assets 33,325,657 23,067,524 3,256,883 Non-current liabilities Due to shareholders - 839,730 118,561 Deficit of investment in subsidiaries - 40,283,193 5,687,547 Total liabilities - 41,122,923 5,806,108 Shareholders’ equity Class A Ordinary shares (par value of US$0.0001 per share;480,000,000 Class A ordinary shares authorized and 13,590,400 and 14, 942,623 Class A ordinary shares issued and outstanding as of December 31, 2022 and 2023, respectively.) 8,830 9,787 1,382 Class B Ordinary shares (par value of US$0.0001 per share; 20,000,000 Class B ordinary shares authorized and 6,409,600 class B shares issued and outstanding as of December 31, 2022 and 2023, respectively.) 4,087 4,087 577 Additional paid-in capital 72,691,813 60,423,647 8,531,160 Subscription receivable (34,823,000) - - Statutory reserves 4,651,141 502,941 71,010 Retained earnings (Accumulated deficit) (9,025,668 ) (77,454,208 ) (10,935,689 ) Accumulated other comprehensive income (181,546 ) (1,541,653 ) (217,665 ) Total shareholders’ equity/ (deficit) 33,325,657 (18,055,399 ) (2,549,225 ) Total liabilities and shareholders’ equity/ (deficit) 33,325,657 23,067,524 3,256,883 Condensed statements of comprehensive income For the years ended December 31, 2021 2022 2023 RMB RMB RMB US$ Operating income (loss): Share of income (loss) from subsidiaries 10,305,308 3,888,723 (69,491,719 ) (9,811,474 ) Total operating income/ (loss) 10,305,308 3,888,723 (69,491,719 ) (9,811,474 ) General and administrative expenses (3,085,021 ) (435,571 ) Total operating expenses (3,085,021 ) (435,571 ) Income (loss) before income tax expense 10,305,308 3,888,723 (72,576,740 ) (10,247,045 ) Income tax expense - - - Net income (loss) 10,305,308 3,888,723 (72,576,740 ) (10,247,045 ) Other comprehensive income (loss) 10,158 (200,146 ) (1,360,105 ) (192,032 ) Total comprehensive income (loss) 10,315,466 3,688,577 (72,576,740 ) (10,247,045 ) Condensed statements of cash flows For the years ended December 31, 2021 2022 2023 RMB RMB RMB US$ Cash flows from operating activities: Net income (loss) 10,305,308 3,888,723 (72,576,740 ) (10,247,045 ) Adjustments to reconcile net income (loss) to net cash provided by operating activities: Equity in (gain) loss of subsidiaries (10,305,308 ) (3,888,723 ) 69,491,719 9,811,474 Net cash used in operating activities - - (3,085,021 ) (435,571 ) Net cash from investing activities: Investment in subsidiaries - - (37,191,258 ) (5,251,000 ) Net cash used in investing activities - - (37,191,258 ) (5,251,000 ) Net cash from financing activities: Proceeds from shares issued - - 73,133,125 10,325,600 Increase in due from subsidiaries - - (26,344,560 ) (3,719,565 ) Payments for deferred offering costs - - (7,355,544 ) (1,038,523 ) Proceeds from loans provided by shareholders - - 839,730 118,561 Net cash provided by financing activities - - 40,272,752 5,686,074 Net decrease in cash - - (3,527 ) (498 ) Effect of exchange rate changes 576,236 81,358 Cash at beginning of year - - - - Cash at end of year - - 572,709 80,860 |
Accounting Policies, by Policy
Accounting Policies, by Policy (Policies) | 12 Months Ended |
Dec. 31, 2023 | |
Summary of Significant Accounting Policies [Abstract] | |
Basis of presentation | (a) Basis of presentation The accompanying consolidated financial statements are prepared in accordance with accounting principles generally accepted in the United States of America (“U.S. GAAP”). |
Principles of consolidation | (b) Principles of consolidation The consolidated financial statements include the financial statements of the Company and its subsidiaries. All intercompany transactions and balances among the Company and its subsidiaries have been eliminated upon consolidation. |
Use of estimates and assumptions | (c) Use of estimates and assumptions The preparation of the consolidated financial statements in accordance with U.S. GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities at the balance sheet date and revenues and expenses during the reporting periods. Significant accounting estimates include, but not limited to the allowance of credit loss for accounts receivables, contract assets, and prepaid expenses and other current asset, the impairment of long-lived assets, and the valuation allowance for deferred tax assets. Changes in facts and circumstances may result in revised estimates. Actual results could differ from those estimates, and as such, differences may be material to the consolidated financial statements. |
Foreign currencies and foreign currency translation | (d) Foreign currencies and foreign currency translation The functional and reporting currency of the Group is Renminbi (“RMB”). The Company’s operating subsidiaries in China and Hong Kong use their respective currencies RMB and Hong Kong Dollar (“HKD”) as their functional currencies. The financial statements of Hong Kong entities are translated into RMB using the exchange rate as of the balance sheet date for assets and liabilities and average exchange rate for the years for income and expense items. Assets and liabilities denominated in foreign currencies at the balance sheet date are translated at the applicable rates of exchange in effect at that date. The equity denominated in the functional currency other than RMB is translated at the historical rate of exchange at the time of capital contribution. Translation adjustments arising from these are reported as foreign currency translation adjustments RMB10,158 , RMB200,146 and RMB1,360,107 (US$192,032) for the years ended December 31, 2021, 2022 and 2023, respectively and are shown as a separate component of shareholders’ equity on the consolidated financial statement. The following table outlines the currency exchange rates that were used in preparing the consolidated financial statements, representing the index rates stipulated by the Bank of China: HKD against RMB December 31, 2021 December 31, 2022 December 31, 2023 Year-end spot rate HKD1=RMB0.8168 HKD1=RMB0.8899 HKD1=RMB0.9056 Average rate HKD1=RMB0.8327 HKD1=RMB0.8578 HKD1=RMB0.8999 Foreign currency transactions denominated in currencies other than the functional currency are translated into the functional currency using the exchange rates prevailing at the dates of the transactions. Monetary assets and liabilities denominated in foreign currencies are translated into the functional currency using the applicable exchange rates at the balance sheet dates. Net gains and losses resulting from foreign exchange transactions are included in exchange gains/(losses) on the consolidated statements of income and comprehensive income. The Group incurred and recognized foreign currency exchange gain of RMB489,268 and RMB4,407,133 for the years ended and 2022, foreign currency exchange loss of RMB1,401,573(US$197,887) for the years ended , respectively, as a result of changes in the exchange rate. |
Convenience translation | (e) Convenience translation The United States dollar (“US$”) amounts disclosed in the accompanying financial statements are presented solely for the convenience of the readers. Translations of amounts from RMB into US$ for the convenience of the reader were calculated at the rate of US$1.00=RMB7.0827 on December 31, 2023, representing the middle rate as set forth in the statistical release of the Bank of China as of December 31, 2023. No representation is made that the RMB amounts could have been, or could be, converted into US$ at such rate. |
Segment information | (f) Segment information An operating segment is a component of the Group that engages in business activities from which it may earn revenues and incur expenses, and is identified on the basis of the internal financial reports that are provided to and regularly reviewed by the Group’s chief operating decision maker in order to allocate resources and assess performance of the segment. In accordance with ASC (“Accounting Standard Codification”) 280, Segment Reporting, operating segments are defined as components of an enterprise about which separate financial information is available that is evaluated regularly by the chief operating decision maker (“CODM”), or decision-making group, in deciding how to allocate resources and in assessing performance. The Group uses the “management approach” in determining reportable operating segments. The management approach considers the internal organization and reporting used by the Group’s chief operating decision maker for making operating decisions and assessing performance as the source for determining the Group’s reportable segments. The Group’s CODM has been identified as the chief executive officer (the “CEO”), who reviews consolidated results when making decisions about allocating resources and assessing performance of the Group. The Group has determined that there is only one reportable operating segment since all types of the services provided and products delivered are viewed as an integrated business process and allocation of the resources and assessment of the performance are not separately evaluated by the Group’s CODM. |
Cash and Restricted Cash | (g) Cash and Restricted Cash Cash consists of cash on hand and cash in bank. The Group maintains cash with various financial institutions primarily in China. As of December 31, 2022 and 2023, balances of cash were RMB27,939,170 and RMB26,103,076 (US$3,685,470 ), respectively. The Group has not experienced any losses in bank accounts and believes it is not exposed to any risks on its cash in bank accounts. Restricted cash represents Demand Bank Guarantee for an international express company. Under the Demand Bank Guarantee, the Company need to deposit RMB500,000 into the bank account in the Bank of China and the cash deposited is restricted for use to make the payments to the international express company under the two-year Air Freight Agency Agreement between the Company and the express company. The term of the Demand Bank Guarantee is from March 2022 to January 2024. In January 2024, RMB501,952 (US$70,870) was released, which consisted of principal of RMB500,000 (US$70,595) and accumulated interests of RMB1,952 (US$275). |
Accounts receivable, net | (h) Accounts receivable, net Accounts receivable, net, include amounts billed and currently due from customers. The amounts due are stated at their net estimated realizable value. The credit terms are generally between 30 to 60 days. In June 2016, the FASB issued ASU 2016-13, Financial Instruments – Credit Losses (Topic 326): Measurement of Credit Losses on Financial Instruments, which is intended to improve financial reporting by requiring timelier recording of credit losses on loans and other financial instruments held by financial institutions and other organizations. The ASU requires the measurement of all expected credit losses for financial assets held at the reporting date based on historical experience, current conditions, and reasonable and supportable forecasts. Financial institutions and other organizations will now use forward looking information to better inform their credit loss estimates. This ASU has subsequently been amended by ASU 2018-19, ASU 2019-04, ASU 2019-05, ASU 2019-10, ASU 2019-11 and ASU 2020-03. The standard will replace today’s incurred loss approach with an expected loss model for instruments measured at amortized cost. Entities will apply the standard’s provisions as a cumulative-effect adjustment to retained earnings as of the beginning of the first reporting period in which the guidance is effective. This ASU is effective for public entities for annual and interim periods beginning after December 15, 2019, and effective for all other entities for annual and interim periods beginning after December 15, 2022. The Group, as an EGC, adopted the guidance starting from January 1, 2023. The Group using the modified retrospective transition method, which had no effect on the opening balance of accumulated deficit on January 1, 2023. The allowance for doubtful accounts as of December 31, 2022 and 2023 was RMB1,185,328 and RMB10,196,104 (US$1,439,579), respectively. |
Property and equipment, net | (i) Property and equipment, net Property and equipment is stated at cost less accumulated depreciation and impairment, if any, and depreciated on a straight-line basis over the estimated useful lives with an estimated residual value of the assets as follows: Category Estimated Motor vehicles 4 - 5 years Electronic equipment 1 - 5 years Machinery 5 years Other equipment 5 years Repair and maintenance costs are charged to expenses as incurred, whereas the cost of renewals and betterment that extends the useful lives of property, plant and equipment are capitalized as additions to the related assets. Retirements, sales and disposals of assets are recorded by removing the costs, accumulated depreciation and impairment with any resulting gain or loss recognized in the consolidated statements of income and other comprehensive income in other income or expenses. See Note 6 - Property and Equipment, net in the Notes to Consolidated Financial Statements for additional information related to the impairment charge during the year ended December 31, 2023. |
Intangible assets, net | (j) Intangible assets, net Intangible assets are carried at cost less accumulated amortization and any recorded impairment. The intangible assets of the Group mainly represent the software for operating activities. Intangible assets are amortized using the straight-line basis over the estimated useful live of the asset as follows: Category Estimated Software 5 - 10 years |
Refundable deposits | (k) Refundable deposits Refundable deposits represent the deposits made for long-term leases and deposits to vendors. These deposits are interest free and will be refunded at the end of the lease and cooperation. Since the leases and cooperation contracts have the term over one year, these deposits are classified as long term assets. |
Prepayment for acquisition | (l) Prepayment for acquisition The prepayment for acquisition is the payment made to acquire a business. These amounts are refundable and interest free if the acquisition was successfully completed. Management reviews its prepayments on a regular basis to determine if the allowance is adequate, and adjusts the allowance when necessary. |
Related parties | (m) Related parties A related party may be any of the following: a) an affiliate, which is a party that directly or indirectly controls, is controlled by, or is under common control with another party; b) a principle owner, owner of record or known beneficial owner of more than 10% of the voting interest of an entity; c) management, which are persons having responsibility for achieving objectives of the entity and requisite authority to make decision; d) immediate family of management or principal owners; e) a parent company and its subsidiaries; and f) other parties that have ability to significant influence the management or operating policies of the entity. The Company discloses all significant related party transactions. |
Impairment of long-lived assets | (n) Impairment of long-lived assets The Group reviews its long-lived assets for impairment whenever events or changes in circumstances indicate that the carrying amount of an asset may no longer be recoverable. When these events occur, the Group measures impairment by comparing the carrying value of the long-lived assets to the estimated undiscounted future cash flows expected to result from the use of the assets and their eventual disposition. If the sum of the expected undiscounted cash flow is less than the carrying amount of the assets, the Group would recognize an impairment loss, which is the excess of carrying amount over the fair value of the assets, using the expected future discounted cash flows. During the year ended December 31, 2023, there was a triggering event of negative cash flows and operating losses at the freight forwarding and warehousing assets group level that indicated the carrying amounts of the Company’s long-lived assets may not have been recoverable. In accordance with ASC 360, regarding the long-lived assets, we performed an undiscounted cash flow analysis and concluded that the carrying value of the asset group was not recoverable. Accordingly, the Group then performed an analysis to estimate the fair value of the other long-lived assets and concluded that property and equipment and right-of-use (ROU) assets were subject to impairment. As of December 31, 2023, the Group’s property and equipment and ROU assets mainly included machinery, equipment, vehicles, leasehold improvement and operating office and warehouse leases. For the year ended 2023, the Group recognized an impairment charge of RMB2.4 million (US$0.3 million) against the property and equipment, RMB3.2 million (US$0.5 million) against the right-of-use (ROU) assets for the amount by which the carrying value of the asset group’s long-lived assets exceeded their estimated fair value. No |
Fair value measurement | (o) Fair value measurement The Group applies ASC 820, Fair Value Measurements and Disclosures ASC 820 establishes a three-tier fair value hierarchy, which prioritizes the inputs used in measuring fair value as follows: ● Level 1 — Observable inputs that reflect quoted prices (unadjusted) for identical assets or liabilities in active markets. ● Level 2 — Include other inputs that are directly or indirectly observable in the marketplace. ● Level 3 — Unobservable inputs which are supported by little or no market activity. ASC 820 describes three main approaches to measuring the fair value of assets and liabilities: (1) market approach; (2) income approach and (3) cost approach. The market approach uses prices and other relevant information generated from market transactions involving identical or comparable assets or liabilities. The income approach uses valuation techniques to convert future cash flow amounts to a single present value amount. The measurement is based on the value indicated by current market expectations about those future amounts. The cost approach is based on the amount that would currently be required to replace an asset. Financial assets and liabilities of the Group primarily consisted of cash, accounts receivable, amounts due from related parties, other receivables included in prepaid expenses and other current assets, short-term borrowings, accounts payable, amounts due to related parties, other payables included in accrued expenses and other current liabilities. As of December 31, 2022 and 2023, the carrying amounts of financial instruments approximated to their fair values due to the short-term maturity of these instruments. The Group’s non-financial assets, such as property and equipment, would be measured at fair value only if they were determined to be impaired. |
Revenue recognition | (p) Revenue recognition Substantially all of the Group’s revenues are from contracts associated with freight forwarding services domestically and internationally. Additionally, the Group provides supply chain management to customers, by exploiting its advantages in global supply chain services. The following table identifies the disaggregation of the Group’s revenue for the years ended December 31, 2021, 2022 and 2023, respectively: FY 2021 FY 2022 FY 2023 Revenue Categories (RMB) % (RMB) % (RMB) (US$) % Type A: Freight forwarding services 488,036,905 89.5 % 577,567,025 88.6 % 342,582,431 48,368,903 68.8 % - Integrated cross-border logistics 390,229,299 71.5 % 444,335,722 68.2 % 219,651,690 31,012,423 44.1 % - Fragmented logistics 97,807,606 18.0 % 133,231,303 20.4 % 94,720,210 13,373,461 19.0 % - Chartered airline freight services - - - - 28,210,531 3,983,019 5.7 % Type B: Supply chain management 53,531,895 9.8 % 69,022,899 10.6 % 152,630,138 21,549,711 30.7 % - International trading in relation to supply chain management 52,974,861 9.7 % 68,878,594 10.6 % 152,544,744 21,537,654 30.7 % - Agent services 557,034 0.1 % 144,305 0.0 % 85,394 12,057 0.0 % Type C: Other services 4,024,697 0.7 % 5,401,669 0.8 % 2,655,631 374,946 0.5 % - Customs brokerage 2,750,027 0.5 % 4,098,297 0.6 % 2,544,116 359,201 0.5 % - Software development 1,274,670 0.2 % 1,303,372 0.2 % 111,515 15,745 0.0 % Total 545,593,497 100.00 % 651,991,593 100.00 % 497,868,200 70,293,560 100.0 % The following table presents revenue classified by timing of revenue recognition for the years ended December 31, 2021, 2022 and 2023, respectively. Year ended Year ended Year ended RMB RMB RMB US$ Point in time 53,531,895 71,448,443 158,069,415 22,317,678 Over time 492,061,602 580,543,150 339,798,785 47,975,882 Total revenue 545,593,497 651,991,593 497,868,200 70,293,560 Type A: Freight forwarding services The Group primarily engages in freight forwarding services, including integrated cross-border logistics, fragmented logistics, chartered airline freight services. For freight services, the Group fulfils its performance obligation by transporting freights from the origin to the destination, both are specified by customers, via air freight, ocean freight, and land freight. The Group considers that there is only one performance obligation as the customer cannot benefit from the facilitating services on its own but be bundled with the freight services since the customer’s purpose for entering into this contract is to transport goods from the origin to the destination. The transaction price is fixed when the contract was signed by both parties. This type of revenue is recognized over time based on the extent of progress towards completion of the performance obligation. The Group adopts the output method, which is based on the transit time period, to measure progress. For warehousing services, the Group is entitled to receive the service fees after it provides services to its customers. For storage fees, the Company normally charges monthly or daily. Therefore, the revenue for warehouse services are divided into two categories by timing of revenue recognition: 1. point in time: including labeling, packaging, loading and unloading services, and daily storage services. 2. over time: monthly storage services. The Group considers itself the principal for transactions that it is in control of establishing the transaction price, and it is responsible for managing all aspects of the shipments process and taking the risk of loss for delivery. Therefore, such revenues are reported on a gross basis. For certain contracts, the Group considers itself the agent for transactions that it cooperates with third-party carriers to arrange freight services. Third-party carriers signed the contracts with customers and were in control of establishing the transaction price, and were responsible for fulfilling the promise to provide freight services. Therefore, such revenues are reported on a net basis. The payment term is within 60 days after completion of freight forwarding services. Type B: Supply chain management The Group also engages in supply chain management, which includes international trading and agent services. The Group provides international trading, which sells electronic products through both export and import, by exploiting its advantages in global supply chain services and networks. The Group fulfils its performance obligation by transferring products to the designated location. In accordance with the Company’s customary business practices, once the products are delivered to the designated spot by its customers, the control of products has transferred, which indicates that the customer has the ability to direct the use of and obtain substantially all of the remaining benefits from the asset. The transaction price is fixed when the contract was signed by both parties. This type of revenue is recognized based on the product value specified in the contract at a point in time when the control of products has transferred. The Group considers itself the principal because it is in control of establishing the transaction price and bearing inventory risk. Therefore, such revenues are reported on a gross basis. In addition to international trading, the Group also provides agent services relates to export/import procedures, for example, application for duty-refund, customs brokerage services and so on. The Group fulfills its performance obligation by arranging export/import business for the customer, including but not limited to signing contracts with end customers on behalf of the customer and preparing customs brokerage and duty refund. This type of revenue is recognized at a point in time upon the completion of the agent services. The Group considers itself the agent because the Group is not primarily responsible for fulfilling the promise to provide the specified goods, neither bears the inventory risks. Therefore, such revenues are reported on a net basis. The payment term is within 60 days after completion of international trading and agent services. Type C: Other value-added services The Group also provides customs brokerage services, and logistics-related software development services. Customs brokerage services under Type C represents independent revenue stream, different from being one of the facilitating services of the freight forwarding business under Type A, or the facilitating services of the agent services under Type B under which those services are bundled as one performance obligation. The Group fulfils its performance obligation by providing customs brokerage services only. The transaction price is fixed when the contract was signed by both parties. This type of revenue is recognized at a point in time upon completion of services, usually within one day. The Group also generates revenues from logistics-related software development services. The Group identifies two performance obligations within the contract: the software development services and the maintenance services. The transaction price is allocated based on the stand-alone selling price for each type of service. The Group recognizes software development services revenue over time in proportionate to the relative labor hours over the total budgeted hours of the project. The Group also promises to provide one-year maintenance service after the above mentioned software has been launched. The Group recognizes maintenance services revenue over the service period of one year. Contract assets and liabilities In-transit freight with performance obligations recognized over time that have revenue recognized to date in excess of cumulative billings are reported on consolidated balance sheets as “Contract assets”. Contract assets are reviewed for impairment when events or changes in circumstances indicate that the carrying value may not be recoverable. Contract liabilities represents the obligation to transfer goods or services to a customer for which the entity has received consideration from the customer. Contract liabilities of the Group mainly consist of advance product payments from customers of international trading. The Group expects to recognize this balance as revenue over the next 12 months. The following table shows the amounts of revenue recognized in the current reporting period that were included in the contract liabilities at the beginning of the reporting period: 2021 2022 2023 RMB RMB RMB US$ Revenue recognized that was included in contract liabilities at the beginning of the reporting period: 1,908,488 7,851,588 1,989,310 280,869 Contract assets were RMB3,203,033, RMB4,460,046 and RMB2,023,221 (US$285,657 ) as of December 31, 2021, 2022 and 2023, respectively. Contract liabilities related to advance payments from customers were RMB7,851,588, RMB1,989,310 and RMB4,777,398 (US$674,519) as of December 31, 2021, 2022 and 2023, respectively. Contract costs Contract costs consists of incremental costs of obtaining a contract with customers, for example, sales commissions. The Group elects to use the practical expedient, allowing to recognize the incremental costs of obtaining a contract as a cost or an expense when incurred if the amortization period, usually the contractual period, would have been one year or less. |
Cost of revenues | (q) Cost of revenues Cost of revenues consist primarily of (i) cost of freight charges, (ii) cost of purchase for international trading, (iii) labor costs, (iv) cost of customs brokerage, (v) cost of packaging, (vi) cost of indemnity paid to carriers and (vii) cost of warehouse lease. Cost of freight charges consists of (i) airfreight/ocean freight/land freight charges, (ii) delivery fees, and (iii) other service fees. |
Selling expenses | (r) Selling expenses Selling expenses mainly consist of (i) employee payroll and commission, (ii) advertising and marketing expenses, and (iii) rental and depreciation related to selling and marketing functions. |
Advertising expenses | (s) Advertising expenses Advertising costs amounted to RMB598,605, RMB2,724,575 and RMB1,316,881 (USD 185,929) for the years ended December 31, 2021, 2022 and 2023, respectively. Advertising costs are expensed as incurred and included in selling and marketing expenses. |
General and administrative expenses | (t) General and administrative expenses General and administrative expenses mainly consist of (i) employee payroll, rental and depreciation related to general and administrative personnel, (ii) professional service fees, and (iii) other corporate expenses. |
Research and development expenses | (u) Research and development expenses Research and development expenses mainly consist of (i) employee payroll, (ii) lease expenses, and (iii) depreciation expense for experimental facilities and other daily expenses related to the Group’s research and development activities. |
Financial expenses, net | (v) Financial expenses, net Financial expenses, net mainly consist of (i) interest expenses, (ii) foreign exchange gain or loss, and (iii) bank charges. The Group incurred interest expenses of RMB1,046,305, RMB795,144 and RMB995,162 (US$140,506) for the years ended December 31, 2021, 2022 and 2023, respectively. The Group incurred foreign exchange gain of RMB489,268 and RMB4,407,133 for the year ended December 31, 2021 and 2022, loss of RMB1,401,573 (US$197,887) for the years ended December 31, 2023, respectively. |
Deferred offering costs | (w) Deferred offering costs Deferred offering costs consist of legal, accounting, underwriting fees and other costs incurred through the balance sheet date that are directly related to the initial public offering. These costs, together with the underwriting discounts and commissions, will be charged to permanent equity upon completion of the initial public offering. Should the initial public offering prove to be unsuccessful, these deferred costs, as well as additional expenses to be incurred, will be charged to expenses. For the year ended December 31, 2021, 2022 and 2023, the Group has incurred and deferred RMB898,870, RMB5,427,260 and RMB9,612,078 (US$1,357,121) of deferred offering costs, respectively. All deferred offering costs were transferred into additional paid in capital after the Group completed its IPO in April 2023. |
Non-controlling interests | (x) Non-controlling interests On June 13, 2017, JYD HQ entered into an equity investment agreement with Mr. Mak Chun Pong, the shareholder of TYPHK, to acquire 67% of equity interest in TYPHK with HKD6,781. Since the Group retains the control of TYPHK, the remaining 33% of equity interest in TYPHK from the other shareholder, Cargo Link Logistics HK Company Limited, was accounted for as non-controlling interest. On October 30, 2021, JYD WLKJ entered into a joint venture agreement with Cargo Link Logistics HK Company Limited and Ms. Zheng Yan, to set up JYD SHWL. Since the Group retains control of JYD SHWL, the investment from Cargo Link Logistics HK Company Limited and Ms. Zheng Yan was accounted for as non-controlling interest. In November 2021, the Company acquired 33% non-controlling interests of JYD HKGJHY from Cargo Link Logistics HK Company Limited at the consideration of nil HKD47,844 In July 2022, JYD WLKJ entered into a joint venture agreement with Mr. He Pengtao, to set up JYD YCKJ. Since the Group retains control of JYD YCKJ, the investment from Mr. He Pengtao was accounted for as non-controlling interest. In July 2023, JYD XYX entered into a joint venture agreement with Mr. Wu Hailong, to set up JYD RHTD. Since the Group retains control of JYD RHTD, the investment from Mr. Wu Hailong was accounted for as non-controlling interest. As of December 31, 2022 and 2023, the balance of non-controlling interest is as following. Entity As of As of RMB RMB US$ TYPHK (72,220 ) (164,701 ) (23,254 ) JYD SHWL (890,560 ) (1,434,739 ) (202,569 ) JYD YCKJ (1,465,290 ) (9,304,266 ) (1,313,661 ) JYD RHTD - 3,277,031 455,622 Total (2,428,070 ) (7,676,674 ) (1,083,863 ) |
Employee benefits | (y) Employee benefits According to the regulations of the PRC, full-time eligible employees of the Group in the PRC are entitled to various government statutory employee benefit plans, including medical insurance, maternity insurance, workplace injury insurance, unemployment insurance and pension benefits through a PRC government-mandated employee benefit plan. The Group is required to make contributions to the plan and accrues for these benefits based on certain percentages of the qualified employees’ salaries. The Group has no further commitments beyond its monthly contribution. Employee social benefits included as costs and expenses in the accompanying consolidated statements of income and comprehensive income amounted to RMB1,187,520, RMB2,170,805 and RMB2,575,438 (US$363,624) for the years ended December 31, 2021, 2022 and 2023, respectively. As of December 31, 2022 and 2023, the outstanding social insurance plan contributions payable were RMB20,960 and RMB251 (US$35), respectively. |
Leases | (z) Leases At inception of a contract, the Group assesses whether a contract is, or contains, a lease. A contract is or contains a lease if it conveys the right to control the use of an identified asset for a period of time in exchange of a consideration. To assess whether a contract is or contains a lease, the Group assess whether the contract involves the use of an identified asset, whether it has the right to obtain substantially all the economic benefits from the use of the asset and whether it has the right to control the use of the asset. The right-of-use assets and related lease liabilities are recognized at the lease commencement date. The Group recognizes operating lease expenses on a straight-line basis over the lease term. Leases with an initial term of 12 months or less are short-term lease and not recognized as operating lease right-of-use assets and operating lease liabilities on the consolidated balance sheet. The Group recognizes lease expense for short-term leases on a straight-line basis over the lease term. The right-of-use of asset is initially measured at cost, which comprises the initial amount of the lease liability adjusted for any lease payments made at or before the commencement date, plus any initial direct costs incurred and less any lease incentive received. Operating lease liabilities are recognized based on the present value of the lease payments not yet paid, discounted using the average borrowing rate of the Group’s outstanding loans. The lease assets for operating leases consist of the amount of the measurement of the lease liabilities and any prepaid lease payments. Operating lease expense is recognized on a straight-line basis over the lease term by adding interest expense determined using the effective interest method to the amortization of the operating lease right-of-use assets. Interest expense is determined using the effective interest method. The Group’s lease agreements do not contain any material residual value guarantees or material restrictive covenants. The Company’s lease terms may include options to extend or terminate the lease. Renewal options are considered within the ROU assets and lease liabilities when it is reasonably certain that the Company will exercise that option. Lease expenses for lease payments are recognized on a straight-line basis over the lease term. For operating leases with a term of one year or less, the Company has elected not to recognize a lease liability or ROU asset on its consolidated balance sheet. Instead, it recognizes the lease payments as expenses on a straight-line basis over the lease term. Short-term lease costs are immaterial to its consolidated statements of operations and cash flows. The Group reviews the impairment of its ROU assets consistent with the approach applied for its other long-lived assets. The Group reviews the recoverability of its long-lived assets when events or changes in circumstances occur that indicate that the carrying value of the asset may not be recoverable. The assessment of possible impairment is based on its ability to recover the carrying value of the asset from the expected undiscounted future pre-tax cash flows of the related operations. The Group has elected to include the carrying amount of operating lease liabilities in any tested asset group and include the associated operating lease payments in the undiscounted future pre-tax cash flows. During the year ended December 31, 2023, there was a triggering event of negative cash flow and operating losses at the freight forwarding and warehousing asset group level that indicated the carrying amounts of the long-lived assets may not be recoverable. In accordance with ASC 360, with regard to the Group’s long-lived assets, the Group performed an undiscounted cash flow analysis and concluded that the carrying value of the asset group was not recoverable. Accordingly, the Group then performed analysis to estimate the fair value of the other long -lived assets and recognized an impairment charge within operating expenses of RMB3.2 million (US$0.5 million) against ROU by the amount by which the carrying value of the asset group’s long-lived assets exceeded their estimated fair value for the year ended December 31, 2023. Key assumptions utilized in the determination of fair value include discount rate, expected future cash flows and working capital requirements. While the Group believes the expectations and assumptions about the future are reasonable, they are inherently uncertain. No impairment charges were recognized during the year ended December 31, 2022. |
Income taxes | (aa) Income taxes The Group accounts for current income taxes in accordance with the laws of the relevant tax authorities. The charge for taxation is based on the results for the fiscal year as adjusted for items, which are non-assessable or disallowed. The tax rates and tax laws used to compute the amount are those that are enacted or substantively enacted at the end of the reporting period. The Group accounts for income taxes under ASC 740. Deferred tax assets and liabilities are recognized for the future tax consequences attributable to differences between the consolidated financial statement carrying amounts of existing assets and liabilities and their respective tax bases (“Temporary differences”). Deferred tax assets and liabilities are measured using enacted tax rates expected to apply to taxable income in the years in which those Temporary differences are expected to be recovered or settled. Deferred tax is calculated at the tax rates that are expected to apply in the periods in which the asset or liability will be settled, based on rates enacted or substantively enacted at the end of the reporting period. Valuation allowances are established, when necessary, to reduce deferred tax assets to the amount expected to be realized. The provisions of ASC 740-10-25, “Accounting for Uncertainty in Income Taxes,” prescribe a more-likely-than-not threshold for consolidated financial statement recognition and measurement of a tax position taken (or expected to be taken) in a tax return. This interpretation also provides guidance on the recognition of income tax assets and liabilities, classification of current and deferred income tax assets and liabilities, accounting for interest and penalties associated with tax positions, and related disclosures. The Group believes there were no uncertain tax positions at December 31, 2021, 2022 and 2023, respectively. Guidance was also provided on derecognition of income tax assets and liabilities, classification of current and deferred income tax assets and liabilities, accounting for interest and penalties associated with tax positions, accounting for income taxes in interim periods, and income tax disclosures. Significant judgment is required in evaluating the Group’s uncertain tax positions and determining its provision for income taxes. The Group did not recognize any significant interest and penalties associated with uncertain tax positions for the years ended December 31, 2021, 2022 and 2023. |
Value added tax (“VAT”) | (ab) Value added tax (“VAT”) The Group is subject to VAT and related surcharges on revenues generated from providing services. Revenue from providing services and sales of products is generally subject to VAT at applicable tax rates, and subsequently paid to PRC tax authorities after netting input VAT on purchases. The excess of output VAT over input VAT is reflected tax payable. The Group reports revenue net of PRC’s VAT for all the periods presented in the Consolidated Statements of Income. The PRC VAT rate is 0%, 1%, 6% and 9% for taxpayers providing logistics services and 13% for product sales for the years ended December 31, 2021, 2022 and 2023. The Notice of Ministry of Finance (“MOF”) and State Administration of Taxation (“SAT”) on the Adjustment to VAT Rates, promulgated on April 4, 2018 and effective as of May 1, 2018, adjusted the applicative rate of VAT. The deduction rates of 17% and 11% applicable to the taxpayers who have VAT taxable sales activities or imported goods are adjusted to 16% and 10%, respectively. For the export goods to which a tax rate of 17% was originally applicable and the export rebate rate was 17%, the export rebate rate is adjusted to 16%. For the export goods and cross-border taxable activities to which a tax rate of 11% was originally applicable and the export rebate rate was 11%, the export rebate rate is adjusted to 10%. Pursuant to the Announcement on Relevant Policies for Deepening Value-Added Tax Reform, which was promulgated by MOF, SAT and the General Administration of Customs on March 20, 2019 and became effective on April 1, 2019, where (i) for VAT taxable sales or imports of goods originally subject to value-added tax rates of 16%, such tax rates shall be adjusted to 13%; (ii) for the exported goods originally subject to a tax rate of 16% and an export tax refund rate of 16%, the export tax refund rate shall be adjusted to 13%. |
Share-based compensation | (ac) Share-based compensation The Group grants shares (“Share-based Awards”) to external consultants in exchange for services provided and accounts for share-based compensation in accordance with ASC 718, Compensation-Stock Compensation. Share-based awards are measured at the grant date fair value of the shares granted. For shares with performance conditions, the Group would recognize compensation cost if and when it concludes that it is probable that the performance condition will be achieved. The assumptions used in share-based compensation expense recognition represent management’s best estimates, but these estimates involve inherent uncertainties and application of management judgment. If factors change or different assumptions are used, the share-based compensation expenses could be materially different for any period. Moreover, the estimates of fair value of the awards are not intended to predict actual future events or the value that ultimately will be realized by grantees who receive Share-based Awards, and subsequent events are not indicative of the reasonableness of the original estimates of fair value made by the Group for accounting purposes. |
Earnings per share | (ad) Earnings per share The Group computes earnings per share (“EPS”) in accordance with ASC 260, “Earnings per Share” (“ASC 260”). ASC 260 requires companies with complex capital structures to present basic and diluted EPS. Basic EPS are computed by dividing income available to ordinary shareholders of the Group by the weighted average ordinary shares outstanding during the period. Diluted EPS takes into account the potential dilution that could occur if securities or other contracts to issue ordinary shares were exercised and converted into ordinary shares. As of December 31, 2021, 2022 and 2023, there was no dilution impact. |
Comprehensive income | (ae) Comprehensive income Comprehensive income is defined as the increase in equity of the Group during a period from transactions and other events and circumstances excluding transactions resulting from investments by owners and distributions to owners. Among other disclosures, ASC 220, Comprehensive Income |
Statutory reserves | (af) Statutory reserves The Group’s PRC subsidiaries are required to reserve 10% of their net profit after income tax, as determined in accordance with the PRC accounting rules and regulations. Appropriation to the statutory reserve by the Group is based on profit arrived at under PRC accounting standards for business enterprises for each year. The profit arrived at must be set off against any accumulated losses sustained by corresponding PRC subsidiaries in prior years, before allocation is made to the statutory reserve. Appropriation to the statutory reserve must be made before distribution of dividends to shareholders. The appropriation is required until the statutory reserve reaches 50% of the registered capital. This statutory reserve is not distributable in the form of cash dividends. For the years ended December 31, 2021, 2022, statutory reserve provided were RMB979,039, RMB2,203,279, respectively. For the year ended December 31, 2023, RMB4,148,200 (US$585,681) was deducted from statutory reserve due to the loss of the Group’s PRC subsidiaries. |
Contingencies | (ag) Contingencies From time to time, the Group may become involved in litigation relating to claims arising in the ordinary course of the business. There are no claims or actions pending or threatened against the Group that, if adversely determined, would in the Group’s management’s judgment have a material adverse effect on the Group. |
Concentration of risks | (ah) Concentration of risks Concentration of Credit Risks Financial instruments that potentially expose the Company to concentrations of credit risk consist primarily of cash and accounts receivable. The Company places its cash with financial institutions with high credit ratings and quality. As of December 31, 2022 and 2023, RMB27,939,170 and RMB26,103,076 (US$3,685,470) of the Group’s cash were on deposit at financial institutions in the PRC, respectively. The Group has a concentration of its account receivables and revenues with specific customers. As of December 31, 2022, two customers each accounted for 13.0% of accounts receivable, respectively. As of December 31, 2023, one customer accounted for 17.0% of accounts receivable. one customer accounted for approximately 13.1% of the total revenue. For the year ended December 31, 2022, two customers accounted for approximately 18.0% and 11.3% of the total revenue, respectively. For the year ended December 31, 2023, two customers accounted for approximately 12.3% and 12.2% of the total revenue, respectively. The Company conducts credit evaluations of customers, and generally does not require collateral or other security from its customers. The Company establishes an allowance for credit loss based upon estimates, factors surrounding the credit risk of specific customers and other information. The allowance amounts were immaterial for all periods presented. The Group also has a concentration of its account payables and purchases with specific suppliers. As of December 31, 2022, two suppliers accounted for 28.1% and 12.8% of the total accounts payable balance, respectively. As of December 31, 2023, three suppliers accounted for 20.0%, 14.6%,and 13.5% of the total accounts payable balance, respectively. For the years ended December 31, 2021, one supplier accounted for 36.4% of the total purchases. For the year ended December 31, 2022, two suppliers accounted for 20% and 19.8% of the total purchases, respectively. For the year ended December 31, 2023, three suppliers accounted for 12.1%,11.7% and 11.0% of the total purchases, respectively. Foreign Exchange Risk The Groups’ operations are primarily in China. The reporting currency is denominated in RMB. The Group is exposed to currency risk primarily through sales and purchases which give rise to receivables, payables and cash balances that are denominated in currencies other than the functional currency of the operations to which the transactions relate. Thus, revenues and results of operations may be impacted by exchange rate fluctuations between RMB and U.S. dollars. |
Recent accounting pronouncements | (ai) Recent accounting pronouncements In October 2021, the FASB issued ASU No. 2021-08, “‘Business Combinations (Topic 805): Accounting for Contract Assets and Contract Liabilities from Contracts with Customers” (“ASU 2021-08”). This ASU requires entities to apply Topic 606 to recognize and measure contract assets and contract liabilities in a business combination. The amendments improve comparability after the business combination by providing consistent recognition and measurement guidance for revenue contracts with customers acquired in a business combination and revenue contracts with customers not acquired in a business combination. The amendments are effective for the Company beginning after December 15, 2023 and are applied prospectively to business combinations that occur after the effective date. The Company does not expect the adoption of ASU 2021-04 will have a material effect on the consolidated financial statements. In December 2023, the FASB issued ASU No.2023-09, “Income Taxes (Topic 740): Improvements to Income Tax Disclosures”. This ASU requires additional quantitative and qualitative income tax disclosure to enable financial statements users better assess how an entity’s operations and related tax risks and tax planning and operational opportunities affect its tax rate and prospects for future cash flows. This ASU is effective for fiscal years beginning after December 15, 2024. Early adoption is permitted. The Company plans to adopt this guidance effective January 1, 2025, and the adoption of this ASU is not expected to have a material impact on its financial statements. Other accounting standards that have been issued by FASB that do not require adoption until a future date are not expected to have a material impact on the consolidated financial statements upon adoption. The Group does not discuss recent pronouncements that are not anticipated to have an impact on or are unrelated to its consolidated financial condition, results of operations, cash flows or disclosures. |
Organization and Principal Ac_2
Organization and Principal Activities (Tables) | 12 Months Ended |
Dec. 31, 2023 | |
Organization and Principal Activities [Abstract] | |
Schedule of Subsidiaries of the Group Are All Owned By the Company through Equity Investment | As of December 31, 2023, the details of the Company’s subsidiaries are as follows. All subsidiaries of the Group are all owned by the Company through equity investment. Entity Controlled by Date of Place of Percentage Principal activities Jayud Global Logistics (Hong Kong) Limited (“JYD HK”) Jayud June 24, 2022 Hong Kong 100 % Wholly foreign owned enterprise Joyed Logistics Services Inc. (“JYD US”) Jayud April 25, 2023 U.S.A. 100 % Freight forwarding Shenzhen Jayud Logistics Technology Co., Ltd (“JYD WLKJ”) JYD HK July 23, 2015 PRC 100 % Freight forwarding Hongkong Jayud International Logistics Company Limited (“JYD HKGJHY”) JYD HK December 31, 2017 Hong Kong 100 % Agent service HK XINYX Technology Limited (“HK XYX”) JYD HK September 6, 2023 Hong Kong 100 % International trading Shenzhen Jia Yu Da International Logistics Co., Ltd. And its Tianjin Branch, Guangzhou Branch, Qingdao Branch and Ningbo Branch (“JYD SZGJHY”) JYD WLKJ June 19, 2011 PRC 100 % Freight forwarding Shenzhen Jia Yu Da Trading Co., Ltd. (“JYD SM”) JYD WLKJ September 18, 2009 PRC 100 % International trading Xuchang Jayud Supply Chain Management Co., Ltd (“JYD XC”) JYD WLKJ May 6, 2021 PRC 100 % Freight forwarding Shenzhen Jiayuda Customs Declaration Co., Ltd. (“JYD BG”) JYD WLKJ September 14, 2015 PRC 100 % Customs brokerage Shenzhen XIN YU Xiang Import & Export Co., Ltd. (“JYD XYX”) JYD WLKJ October 26, 2011 PRC 100 % International trading Shenzhen Ronghai Tongda Supply Chain Management Co., Ltd (“JYD RHTD”) JYD XYX July 31, 2023 PRC 51 % International trading Shenzhen Jiayuda Global Supply Chain Co., Ltd. (“JYD HQ”) JYD WLKJ April 23, 2014 PRC 100 % Freight forwarding Sky Pacific Logistics HK Company Limited (“TPYHK”) JYD HQ March 2, 2016 Hong Kong 67 % Agent service Shenzhen Jiayuda E-Commerce Technology Co., Ltd (“JYD DS”) JYD WLKJ April 1, 2021 PRC 100 % Freight forwarding Nanjing Jiayuda Logistics Co., Ltd. And its Nantong Branch, Xiamen Branch, and Danyang Branch (“JYD NJWL”) JYD WLKJ February 12, 2018 PRC 100 % Freight forwarding Shaanxi JiaYuda Supply Chain Management Co., Ltd. (“JYD SXGYL”) JYD WLKJ March 27, 2018 PRC 100 % Freight forwarding Cargo Link Company Limited (“JYD SHWL”) JYD WLKJ November 10, 2021 PRC 51 % Freight forwarding Shenzhen Jayud Yuncang Technology Co., Ltd. (“JYD YCKJ”) JYD WLKJ July 25, 2022 PRC 52 % Warehousing |
Summary of Significant Accoun_2
Summary of Significant Accounting Policies (Tables) | 12 Months Ended |
Dec. 31, 2023 | |
Summary of Significant Accounting Policies [Abstract] | |
Schedule of Separate Component of Shareholders’ Equity on the Consolidated Financial Statement | The following table outlines the currency exchange rates that were used in preparing the consolidated financial statements, representing the index rates stipulated by the Bank of China: HKD against RMB December 31, 2021 December 31, 2022 December 31, 2023 Year-end spot rate HKD1=RMB0.8168 HKD1=RMB0.8899 HKD1=RMB0.9056 Average rate HKD1=RMB0.8327 HKD1=RMB0.8578 HKD1=RMB0.8999 |
Schedule of Estimated Residual Value of the Assets | Property and equipment is stated at cost less accumulated depreciation and impairment, if any, and depreciated on a straight-line basis over the estimated useful lives with an estimated residual value of the assets as follows: Category Estimated Motor vehicles 4 - 5 years Electronic equipment 1 - 5 years Machinery 5 years Other equipment 5 years |
Schedule of Intangible Asset, Estimated Useful Lives | Intangible assets are amortized using the straight-line basis over the estimated useful live of the asset as follows: Category Estimated Software 5 - 10 years |
Schedule of the Disaggregation of the Group’s Revenue | The following table identifies the disaggregation of the Group’s revenue for the years ended December 31, 2021, 2022 and 2023, respectively: FY 2021 FY 2022 FY 2023 Revenue Categories (RMB) % (RMB) % (RMB) (US$) % Type A: Freight forwarding services 488,036,905 89.5 % 577,567,025 88.6 % 342,582,431 48,368,903 68.8 % - Integrated cross-border logistics 390,229,299 71.5 % 444,335,722 68.2 % 219,651,690 31,012,423 44.1 % - Fragmented logistics 97,807,606 18.0 % 133,231,303 20.4 % 94,720,210 13,373,461 19.0 % - Chartered airline freight services - - - - 28,210,531 3,983,019 5.7 % Type B: Supply chain management 53,531,895 9.8 % 69,022,899 10.6 % 152,630,138 21,549,711 30.7 % - International trading in relation to supply chain management 52,974,861 9.7 % 68,878,594 10.6 % 152,544,744 21,537,654 30.7 % - Agent services 557,034 0.1 % 144,305 0.0 % 85,394 12,057 0.0 % Type C: Other services 4,024,697 0.7 % 5,401,669 0.8 % 2,655,631 374,946 0.5 % - Customs brokerage 2,750,027 0.5 % 4,098,297 0.6 % 2,544,116 359,201 0.5 % - Software development 1,274,670 0.2 % 1,303,372 0.2 % 111,515 15,745 0.0 % Total 545,593,497 100.00 % 651,991,593 100.00 % 497,868,200 70,293,560 100.0 % |
Schedule of Revenue Recognition | The following table presents revenue classified by timing of revenue recognition for the years ended December 31, 2021, 2022 and 2023, respectively. Year ended Year ended Year ended RMB RMB RMB US$ Point in time 53,531,895 71,448,443 158,069,415 22,317,678 Over time 492,061,602 580,543,150 339,798,785 47,975,882 Total revenue 545,593,497 651,991,593 497,868,200 70,293,560 |
Schedule of Contract Liabilities at the Beginning of the Reporting Period | The following table shows the amounts of revenue recognized in the current reporting period that were included in the contract liabilities at the beginning of the reporting period: 2021 2022 2023 RMB RMB RMB US$ Revenue recognized that was included in contract liabilities at the beginning of the reporting period: 1,908,488 7,851,588 1,989,310 280,869 |
Schedule of Balance of Non-Controlling Interest | As of December 31, 2022 and 2023, the balance of non-controlling interest is as following. Entity As of As of RMB RMB US$ TYPHK (72,220 ) (164,701 ) (23,254 ) JYD SHWL (890,560 ) (1,434,739 ) (202,569 ) JYD YCKJ (1,465,290 ) (9,304,266 ) (1,313,661 ) JYD RHTD - 3,277,031 455,622 Total (2,428,070 ) (7,676,674 ) (1,083,863 ) |
Accounts Receivable, Net (Table
Accounts Receivable, Net (Tables) | 12 Months Ended |
Dec. 31, 2023 | |
Accounts Receivable, Net [Abstract] | |
Schedule of Accounts Receivable | Accounts receivable consisted of the following: As of December 31, December 31, 2022 2023 RMB RMB US$ Accounts receivable 32,098,662 51,478,092 7,268,146 Allowance for credit losses related to accounts receivable (1,185,328 ) (10,196,104 ) (1,439,579 ) Total accounts receivable, net 30,913,334 41,281,988 5,828,567 |
Schedule of Allowance of Doubtful Accounts | The movement of allowance of doubtful accounts is as follows: As of December 31, December 31, 2022 2023 RMB RMB US$ Beginning balance 682,905 1,185,328 167,355 Addition 700,505 9,745,364 1,375,938 Write off (198,082 ) (406,566 ) (57,402 ) Reverse - (328,022 ) (46,312 ) Ending balance 1,185,328 10,196,104 1,439,579 |
Prepaid Expenses and Other Cu_2
Prepaid Expenses and Other Current Assets, Net (Tables) | 12 Months Ended |
Dec. 31, 2023 | |
Prepaid Expenses and Other Current Assets, Net [Abstract] | |
Schedule of Prepaid Expenses and Other Current Assets | Prepaid expenses and other current assets consisted of the following: As of December 31, December 31, 2022 2023 RMB RMB US$ Advanced to suppliers (a) 2,222,046 1,602,310 226,229 Tax refund (b) 1,924,536 - - Deposits (c) 6,238,305 9,644,591 1,361,711 Tax/expenses paid on behalf of clients 413,304 3,182,361 449,315 Loan & interest receivable (d) - 3,845,273 542,911 Other receivables (e) 1,650,503 3,212,790 453,610 12,448,694 21,487,325 3,033,776 Allowance for credit losses related to prepaid expenses and other current assets (237,704 ) (8,973,447 ) (1,266,953 ) Total prepaid expenses and other receivables, net 12,210,990 12,513,878 1,766,823 (a) The balance mainly represents the advance payments made chartered airlines freight services and rent. (b) The balance mainly represents the tax refund JYD SM entitled from international trading business. The Group has recorded full allowance for the portion with doubt of collection. (c) The balance mainly represents the current operational deposits for lease and cargo space reservation to vendors. (d) The balance represents the principal and interests of the loan to Shenzhen Expecs Technology Co., Ltd. Refer to Note 8 for details. (e) The balance mainly represents the prepaid taxes and some advances to employees. |
Schedule of Allowance of Doubtful Accounts | The movement of allowance of doubtful accounts is as follows: As of December 31, December 31, 2022 2023 RMB RMB US$ Beginning balance 4,744,565 237,704 33,561 Addition 237,704 8,761,236 1,236,992 Write off (4,744,565 ) (25,493 ) (3,600 ) Ending balance 237,704 8,973,447 1,266,953 |
Property and Equipment, Net (Ta
Property and Equipment, Net (Tables) | 12 Months Ended |
Dec. 31, 2023 | |
Property and Equipment, Net [Abstract] | |
Schedule of Property and Equipment, Net | Property and equipment, net consisted of the following: As of December 31, December 31, 2022 2023 RMB RMB US$ Motor vehicles 1,538,213 1,485,841 209,785 Electronic equipment 1,783,988 2,033,203 287,066 Machinery 1,119,594 1,139,270 160,853 Other equipment 1,041,034 1,413,753 199,607 Construction in progress - 655,987 92,617 Subtotal 5,482,829 6,728,054 949,928 Less: accumulated depreciation (2,869,565 ) (3,200,069 ) (451,815 ) 2,613,264 3,527,985 498,113 Less: impairment charges - (2,404,009 ) (339,420 ) Property and equipment, net 2,613,264 1,123,976 158,693 |
Intangible Assets, Net (Tables)
Intangible Assets, Net (Tables) | 12 Months Ended |
Dec. 31, 2023 | |
Intangible Assets, Net [Abstract] | |
Schedule of Intangible Asset, Net | Intangible assets, net consisted of the following: As of December 31, December 31, 2022 2023 RMB RMB US$ Software 1,438,175 2,096,218 295,963 Less: accumulated depreciation (680,216 ) (101,350 ) (14,309 ) Intangible assets, net 757,959 1,994,868 281,654 |
Short-Term Borrowings (Tables)
Short-Term Borrowings (Tables) | 12 Months Ended |
Dec. 31, 2023 | |
Short-Term Borrowings [Abstract] | |
Schedule of Short-Term Borrowings | The balance of short-term borrowings consists of the following: As of December 31, December 31, 2022 2023 RMB RMB US$ Bank of China Shenzhen Nantou Branch (a) - 6,300,000 889,493 Industrial and Commercial Bank of China (b) 3,000,000 3,000,000 423,567 Shenzhen Futian Yinzuo Rural Bank(c) 2,000,000 1,559,968 220,250 Bank of China Shenzhen Dongbu Branch (d) 9,800,000 5,000,000 705,945 Bank of China Shenzhen Dongbu Branch (e) - 3,000,000 423,567 Bank of Ningbo (f) - 6,743,530 952,113 Total 14,800,000 25,603,498 3,614,935 (a) On March 29, 2023, JYD WLKJ entered into a working capital loan agreement with Bank of China Shenzhen Nantou Branch in the total amount of RMB5,000,000(US$705,945) with one one (b) On March 15, 2020, JYD HQ initially entered into a loan agreement with Industrial and Commercial Bank of China in the total amount of RMB3,000,000 with a half-year term with an interest rate of 4.65%. The loan is subject to repayment and is eligible for renewal every six month. The loan is subject to repayment and is eligible for renewal every six month and the newest term was from September 2023 to March 2024. (c) On June 27, 2022, JYD WLKJ entered into a loan agreement with Shenzhen Futian Yinzuo Rural Bank in the total amount of RMB2,000,000 (US$282,378) with an interest rate of 10.512% with one-year term. The amount was repaid when it was due in June 2023. On July 5, 2023, JYD WLKJ entered into a new loan agreement with Shenzhen Futian Yinzuo Rural Bank in the total amount of RMB2,000,000 (US$282,378) with an interest rate of 10.512% with one-year term. As of December 31, 2023, RMB440,032 (US$62,128) was repaid, and RMB1,559,968 (US$220,250) was outstanding. (d) On November 14, 2022, JYD HQ entered into a one-year maturity loan agreement with Bank of China Shenzhen Dongbu Branch in the total amount of RMB10,000,000(US$1,411,891) with an interest rate of 4.34%. The loan was guaranteed by Shenzhen SME Financing Guarantee Co., LTD. and shareholders of the Group (Xiaogang Geng and Xiaohua Jia). JYD HQ has repaid RMB200,000 ( USD28,238 (e) On October 30 2023, JYD SZGJHY entered into a one-year maturity loan agreement with Bank of China Shenzhen Dongbu Branch in the total amount of RMB3,000,000(US$423,567) with an interest rate of 3.75%. (f) On November 14, 2023, JYD NJWL entered into a one-year maturity loan agreement with Bank of Ningbo in the total amount of USD1, 000,000 |
Accrued Expenses and Other Cu_2
Accrued Expenses and Other Current Liabilities (Tables) | 12 Months Ended |
Dec. 31, 2023 | |
Accrued Expenses and Other Current Liabilities [Abstract] | |
Schedule of Accrued Expenses and Other Current Liabilities | As of December 31, December 31, 2022 2023 RMB RMB US$ Accrued payroll and employee benefits 2,089,072 3,416,836 482,420 Payable to third parties (a) 1,209,742 1,818,200 256,710 Deposit payable 619,786 2,017,770 284,887 Others 299,132 233,075 32,908 Total 4,217,732 7,485,881 1,056,925 (a) The balance mainly represents the payables for acquiring services for daily operations such as property fees, rent and utility bills as well as professional and consulting services as of December 31, 2022 and 2023. |
Leases (Tables)
Leases (Tables) | 12 Months Ended |
Dec. 31, 2023 | |
Leases [Abstract] | |
Schedule of Balance Sheet Information Related to Operating Lease | Supplemental balance sheet information related to operating lease was as follows: As of December 31, December 31, 2022 2023 RMB RMB US$ Right-of-use assets 31,403,688 12,237,211 1,728,505 Less: impairment - (3,244,676 ) (458,857 ) Right-of-use assets 31,403,688 8,992,535 1,269,648 Operating lease liabilities – current 18,079,265 8,806,671 1,243,406 Operating lease liabilities – non-current 13,276,535 5,216,622 736,530 Total operating lease liabilities 31,355,800 14,023,293 1,979,936 As of December 31, December 31, 2022 2023 RMB RMB US$ Lease expense Operating lease expense - third party 10,933,292 10,148,284 1,432,827 Short-term lease expense - 15,056,781 2,125,853 Sublease income (1) - (707,009 ) (99,822 ) Total lease expense 10,933,292 24,498,055 3,458,858 Other information Cash paid for operating leases 8,543,549 1,206,256 Right-of-use assets obtained in exchange for operating new lease liabilities 35,873,660 15,838,886 2,236,278 * (1) For the year ended December 31, 2023, the Group incurred sublease income of RMB 707,009 (US$99,822), and sublease cost of RMB 858,098 (US$121,154). |
Schedule of Weighted Average Remaining Lease Terms and Discount Rates | The weighted average remaining lease terms and discount rates for the operating lease as of December 31, 2023 were as follows: Remaining lease term and discount rate: Weighted average remaining lease term (years) 2.33 Weighted average discount rate 4.2 % |
Schedule of Future Minimum Payments | The following is a schedule of future minimum payments under the Group’s operating leases as of December 31, 2023: Year Amounts RMB US$ 2024 9,206,946 1,299,920 2025 3,510,711 495,674 2026 581,689 82,128 2027 539,727 76,204 2028 334,122 47,174 Thereafter 558,808 78,898 Total lease payments 14,732,003 2,079,998 Less: imputed interest 708,710 100,062 Total operating lease liabilities, net of interest 14,023,293 1,979,936 |
Taxation (Tables)
Taxation (Tables) | 12 Months Ended |
Dec. 31, 2023 | |
Taxation [Abstract] | |
Schedule of Income Tax Provision | The income tax provision consisted of the following components: For the years ended December 31, 2021 2022 2023 RMB RMB RMB US$ Current income tax expenses 839,107 2,465,462 99,155 14,000 Deferred income tax expense (benefit) 864,072 116,755 (2,907,145 ) (410,457 ) Total income tax expenses (benefit) 1,703,179 2,582,217 (2,807,990 ) (396,458 ) |
Schedule of Income / (Loss) Before Provision for Income Taxes | For the years ended December 31, 2021 2022 2023 RMB RMB RMB US$ Income / (loss) before provision for income taxes is attributable to the following geographic locations: PRC 12,016,517 8,630,868 (76,778,965 ) (10,840,353 ) Foreign (89,670 ) (4,670,754 ) (6,304,369 ) (890,109 ) Total Income/(loss) before Income Taxes 11,926,847 3,960,114 (83,083,334 ) (11,730,462 ) |
Schedule of Reconciliation Between the Provision for Income Taxes | Reconciliation between the provision for income taxes computed by applying the PRC EIT rate of 25% to income before income taxes and the actual provision of income taxes is as follows: For the years ended December 31, 2021 2022 2023 PRC statutory income tax rate 25.0 % 25.0 % (25.0 )% Impact of different tax rates in other jurisdictions 0.0 % 22.3 %. 1.1 % Effect of preferential tax rate (6.4 )% 53.3 % 7.9 % Non-deductible (Non-taxable) items 0.9 % 0.9 % 0.1 % Effect of additional R&D deduction 0.0 % (9.0 )% 0.0 % Tax effect on deferred offering costs (1.9 )% (32.3 )% (0.6 )% Change in valuation allowance (3.3 )% 5.0 % 13.1 % Effective tax rate 14.3 % 65.2 % (3.4 )% |
Schedule of Deferred Tax Assets and Deferred Tax Liability | As of December 31, 2022 and 2023, the significant components of the deferred tax assets and deferred tax liability were summarized below: As of December 31, December 31, RMB RMB US$ Deferred tax assets: Net operating loss carried forward 1,750,257 10,843,551 1,530,991 Bad debt provision 96,568 3,801,660 536,753 Impairment charges - 963,398 136,021 Lease liability - 818,974 115,630 Less: Valuation allowance (1,825,262 ) (12,738,069 ) (1,798,476 ) Deferred tax assets, net of valuation allowance 21,563 3,689,514 520,919 As of December 31, December 31, 2022 2023 RMB RMB US$ Deferred tax liabilities: Right of use assets - (760,806 ) (107,418 ) Total deferred tax liabilities - (760,806 ) (107,418 ) Total deferred tax assets, net 21,563 2,928,708 413,501 |
Schedule of Valuation Allowance | The movement of valuation allowance is as follows: As of December 31, December 31, 2022 2023 RMB RMB US$ Beginning balance 1,625,548 1,825,262 257,707 Addition 197,431 10,907,213 1,539,980 Foreign exchange impact 2,283 5,594 789 Ending balance 1,825,262 12,738,069 1,798,476 |
Schedule of Net Operating Loss Carry Forward | As of December 31, 2023, net operating loss carry forward will expire, if unused, in the following amounts: For the fiscal years ended December 31, Amounts 2024 2,206,569 2025 3,196,752 2026 395,107 2027 12,468,752 2028 48,064,350 66,331,529 |
Schedule of Taxes Payable | The Group’s taxes payable consists of the following: As of December 31, December 31, RMB RMB US$ Income tax payable 1,768,285 163,527 23,088 VAT and other taxes payable 362,148 349,670 49,370 Total taxes payable 2,130,433 513,197 72,458 |
Related Party Balances and Tr_2
Related Party Balances and Transactions (Tables) | 12 Months Ended |
Dec. 31, 2023 | |
Related Party Balances and Transactions [Abstract] | |
Schedule of Accounts Receivable from a Related Party | As of December 31, 2022 and 2023, accounts receivable from a related party consisted of the following: Name Relationship Nature As of As of RMB RMB US$ Shenzhen Feijia Supply Chain Management Co., Ltd 43% shares owned by JYD YCKJ’s 48% interest minor shareholder Logistic services 1,676,016 - - 1,676,016 - - As of December 31, 2022 and 2023, other receivable from related parties consisted of the following: Name Relationship Nature As of As of RMB RMB US$ Winpass Logistics (HK) Co., Limited (“Winpass”) 100% controlled by Xiaohua Jia Net collection on behalf of the Group - 125,049 17,656 Shenzhen Zhongshun Jiean Estate Management Co., Ltd 90% owned by Bao BingBing, management of JYD NJWL Rent deposit - 39,809 5,620 - 164,858 23,276 As of December 31, 2022 and 2023, accounts payable to related parties consisted of the following: Name Relationship Nature As of As of RMB RMB US$ Winpass Logistics (HK) Co., Limited 100% controlled by Xiaohua Jia Logistic services 240,175 418,266 59,055 Cargo Link Logistics HK Company Limited Owns 33% of shares of Sky Pacific Logistics HK Company Limited Logistic services 7,185,009 6,248,192 882,176 7,425,184 6,666,458 941,231 As of December 31, 2022 and 2023, loan payable to a related party consisted of the following: Name Relationship Nature As of As of RMB RMB US$ Xi’an Renrui Hydroacoustic Technology Engineering Co., Ltd (“Renrui”) 40% owned by Bin Li Loan - 3,000,000 423,567 - 3,000,000 423,567 As of December 31, 2022 and 2023, other payable to related parties consisted of the following: Name Relationship Nature As of As of RMB RMB US$ Winpass Logistics (HK) Co., Limited 100% controlled by Xiaohua Jia Net payments on behalf of the Group 1,371,882 - - Cargo Link Logistics HK Company Limited Owns 33% of shares of Sky Pacific Logistics HK Company Limited Net payments on behalf of the Group (a) 663,976 686,609 96,941 Bin Li Management of JYD SXGYL Interest Payable (b) 441,800 30,000 4,236 Xi’an Renrui Hydroacoustic Technology Engineering Co., Ltd (“Renrui”) 40% owned by Bin Li Interest Payable (b) - 24,643 3,479 Shenzhen Zhongshun Jiean Estate Management Co., Ltd (“Zhongshun”) 90% owned by BingBing Bao, management of JYD NJWL Rent payable (c) - 7,775,393 1,097,801 2,477,658 8,516,645 1,202,457 (a) For the years ended December 31, 2021 and 2022, Cargo Link paid on behalf of the Group in a total amount of RMB364,588 and RMB153,101, respectively. The balance change from 2022 to 2023 of RMB12,185 (US$1,720) was mainly due to foreign exchange differences., (b) On November 15, 2023, the Group borrowed short-term loans from Li Bin and Renrui each of RMB3,000,000 (US$423,567), with loan term of 20 days and 55 days, respectively. Interest was RMB30,000 for each loan. The principal of RMB3,000,000 ( USD423,567 (c) In May 2023, the Group signed a 7-month lease agreement with Zhongshun for its offices and warehouses. As of December 31, 2023, rent payable of RMB7,775,393 (US$1,097,801) was outstanding. As of December 31, 2022 and 2023, other payable to shareholders consisted of the following: Name Relationship Nature As of As of RMB RMB US$ Xiaogang Geng Shareholder and CEO Interest of shareholder loan - 16,465 2,325 Xiaogang Geng Shareholder and CEO Dividend 6,225,000 - - Xiaohua Jia Shareholder Dividend 712,500 - - Qing Wang Shareholder Business Reimbursement Payable 43,336 20,564 2,903 6,980,836 37,029 5,228 As of December 31, 2022 and as of December 31, 2023, loans payable to shareholders consisted of the following: Name Relationship Nature As of As of RMB RMB US$ Xiaogang Geng Shareholder and CEO Loan (a) - 823,265 116,236 - 823,265 116,236 As of December 31, 2022 and 2023, other payable to shareholders consisted of the following: Name Relationship Nature As of As of RMB RMB US$ Xiaogang Geng Shareholder and CEO Dividend - 6,225,000 878,902 Xiaohua Jia Shareholder Dividend - 712,500 100,597 - 6,937,500 979,499 For the years ended December 31, Shareholder Nature 2021 2022 2023 RMB RMB RMB US$ Dun Zhao (Director and CMO) Interest expenses of a loan 40,000 20,000 - - Xiaogang Geng Interest expenses of a loan - - 16,465 2,325 For the years ended December 31, Related Parties Relationship Nature 2021 2022 2023 RMB RMB RMB US$ Winpass Logistics (HK) Co., Limited 100% controlled by Xiaohua Jia Purchase of logistic services 4,514,552 1,386,915 549,714 77,614 Cargo Link Logistics HK Company Limited Owns 33% of shares of Sky Pacific Logistics HK Company Limited Purchase of logistic services 185,858,692 121,455,797 62,063,334 8,762,666 Cargo Link Logistics HK Company Limited Owns 33% of shares of Sky Pacific Logistics HK Company Limited Provided logistic services 14,141,548 462,740 - - Cargo LINK Logistics (SHENZHEN) Company Limited Owns 33% of shares of Sky Pacific Logistics HK Company Limited Purchase of logistic services 2,672,803 - - - Shenzhen Feijia Supply Chain Management Co., Ltd 43% shares owned by JYD YCKJ’s 48% interest minor shareholder Provided logistic services - 2,078,746 196,575 27,754 Shenzhen Feijia Supply Chain Management Co., Ltd 43% shares owned by JYD YCKJ’s 48% interest minor shareholder Purchase of equipment - 441,800 108,407 15,306 Shenzhen Feijia Supply Chain Management Co., Ltd 43% shares owned by JYD YCKJ’s 48% interest minor shareholder Penalty for early termination of lease 835,527 117,967 Xi’an Renrui Hydroacoustic Technology Engineering Co., Ltd 40% owned by Bin Li Provided logistic services - - 4,749 670 Shenzhen Zhongshun Jiean Estate Management Co., Ltd 90% owned by Bao BingBing, management of JYD NJWL Rent of offices and warehouses - - 14,469,603 2,042,950 Minfang Cheng Legal representative of JYD XYX Interest expenses of a loan 12,000 6,000 - - Bin Li Supervisor of JYD SXGYL Interest expenses of a loan - - 30,000 4,236 Xi’an Renrui Hydroacoustic Technology Engineering Co., Ltd 40% owned by Bin Li Interest expenses of a loan - - 24,643 3,479 |
Concentration (Tables)
Concentration (Tables) | 12 Months Ended |
Dec. 31, 2023 | |
Concentration [Abstract] | |
Schedule of Total Accounts Receivable | The following table sets forth information as to each customer that accounted for 10% or more of total accounts receivable as of December 31, 2022 and 2023. As of As of Customer Amount % of Total Amount % of Total Amount RMB % RMB % US$ A 4,393,790 13.0 % 7,025,390 17.0 % 991,908 B 4,376,768 13.0 % * * * * Represented the percentage below 10% The following table sets forth information as to each customer that accounted for 10% or more of total revenue for the years ended December 31, 2021, 2022 and 2023. For the year ended For the year ended For the year ended 2021 2022 2023 Customer Amount % of Total Amount % of Total Amount % of Total Amount RMB RMB RMB US$ C * * 117,415,978 18.0 % * * * B 71,419,145 13.1 % 73,423,394 11.3 % * * * D * * * * 61,254,669 12.3 % 8,648,491 E * * * * 60,840,708 12.2 % 8,590,044 The following table sets forth information as to each supplier that accounted for 10% or more of total accounts payable as of December 31, 2022 and 2023. As of As of December 31, December 31, Supplier Amount % of Total Amount % of Total Amount RMB RMB % US$ Cargo Link Logistics HK Company Limited 7,185,007 28.1 % 6,248,193 13.5 % 870,270 A 3,261,998 12.8 % * * * B * * 9,302,019 20.0 % 1,313,344 C * * 6,801,207 14.6 % 960,256 The following table sets forth information as to each supplier that accounted for 10% or more of total purchase for the years ended December 31, 2021, 2022 and 2023. For the year ended For the year ended For the year ended 2021 2022 2023 Supplier Amount % of Total Amount % of Total Amount % of Total Amount RMB RMB RMB % US$ D * * 122,901,742 20.0 % * * * Cargo Link Logistics HK Company Limited 185,858,692 36.4 % 121,455,797 19.8 % 62,063,334 12.1 % 8,762,666 E * * * * 60,165,266 11.7 % 8,494,679 F * * * * 56,607,369 11.0 % 7,992,343 |
Commitments and Contingencies (
Commitments and Contingencies (Tables) | 12 Months Ended |
Dec. 31, 2023 | |
Commitments and Contingencies [Abstract] | |
Schedule of Contractual Obligations | The following table sets forth the Company’s contractual obligations as of December 31, 2023: Payments due by period Total Within Within Over RMB Operating lease payment 14,023,293 8,806,671 3,405,098 1,811,524 Bank borrowings 30,003,498 30,003,498 - - Loan from a related party 3,000,000 3,000,000 - - Loans from a third party 2,833,080 - 2,833,080 - Loan from a shareholder 823,265 - 823,265 - Total 50,683,136 41,810,169 7,061,443 1,811,524 |
Condensed Financial Informati_2
Condensed Financial Information of the Parent Company (Tables) | 12 Months Ended |
Dec. 31, 2023 | |
Condensed Financial Information of the Parent Company [Abstract] | |
Schedule of Condensed Balance Sheets | As of As of 2022 2023 RMB RMB US$ Assets Current assets Cash - 572,709 80,860 Due from subsidiaries - 22,494,815 3,176,023 Total current assets - 23,067,524 3,256,883 Non-current assets Investments in subsidiaries 33,325,657 - - Total assets 33,325,657 23,067,524 3,256,883 Non-current liabilities Due to shareholders - 839,730 118,561 Deficit of investment in subsidiaries - 40,283,193 5,687,547 Total liabilities - 41,122,923 5,806,108 Shareholders’ equity Class A Ordinary shares (par value of US$0.0001 per share;480,000,000 Class A ordinary shares authorized and 13,590,400 and 14, 942,623 Class A ordinary shares issued and outstanding as of December 31, 2022 and 2023, respectively.) 8,830 9,787 1,382 Class B Ordinary shares (par value of US$0.0001 per share; 20,000,000 Class B ordinary shares authorized and 6,409,600 class B shares issued and outstanding as of December 31, 2022 and 2023, respectively.) 4,087 4,087 577 Additional paid-in capital 72,691,813 60,423,647 8,531,160 Subscription receivable (34,823,000) - - Statutory reserves 4,651,141 502,941 71,010 Retained earnings (Accumulated deficit) (9,025,668 ) (77,454,208 ) (10,935,689 ) Accumulated other comprehensive income (181,546 ) (1,541,653 ) (217,665 ) Total shareholders’ equity/ (deficit) 33,325,657 (18,055,399 ) (2,549,225 ) Total liabilities and shareholders’ equity/ (deficit) 33,325,657 23,067,524 3,256,883 |
Schedule of Condensed Statements of Comprehensive Income | For the years ended December 31, 2021 2022 2023 RMB RMB RMB US$ Operating income (loss): Share of income (loss) from subsidiaries 10,305,308 3,888,723 (69,491,719 ) (9,811,474 ) Total operating income/ (loss) 10,305,308 3,888,723 (69,491,719 ) (9,811,474 ) General and administrative expenses (3,085,021 ) (435,571 ) Total operating expenses (3,085,021 ) (435,571 ) Income (loss) before income tax expense 10,305,308 3,888,723 (72,576,740 ) (10,247,045 ) Income tax expense - - - Net income (loss) 10,305,308 3,888,723 (72,576,740 ) (10,247,045 ) Other comprehensive income (loss) 10,158 (200,146 ) (1,360,105 ) (192,032 ) Total comprehensive income (loss) 10,315,466 3,688,577 (72,576,740 ) (10,247,045 ) |
Schedule of Condensed Statements of Cash Flows | For the years ended December 31, 2021 2022 2023 RMB RMB RMB US$ Cash flows from operating activities: Net income (loss) 10,305,308 3,888,723 (72,576,740 ) (10,247,045 ) Adjustments to reconcile net income (loss) to net cash provided by operating activities: Equity in (gain) loss of subsidiaries (10,305,308 ) (3,888,723 ) 69,491,719 9,811,474 Net cash used in operating activities - - (3,085,021 ) (435,571 ) Net cash from investing activities: Investment in subsidiaries - - (37,191,258 ) (5,251,000 ) Net cash used in investing activities - - (37,191,258 ) (5,251,000 ) Net cash from financing activities: Proceeds from shares issued - - 73,133,125 10,325,600 Increase in due from subsidiaries - - (26,344,560 ) (3,719,565 ) Payments for deferred offering costs - - (7,355,544 ) (1,038,523 ) Proceeds from loans provided by shareholders - - 839,730 118,561 Net cash provided by financing activities - - 40,272,752 5,686,074 Net decrease in cash - - (3,527 ) (498 ) Effect of exchange rate changes 576,236 81,358 Cash at beginning of year - - - - Cash at end of year - - 572,709 80,860 |
Organization and Principal Ac_3
Organization and Principal Activities (Details) - USD ($) $ in Millions | Sep. 30, 2022 | Jul. 31, 2023 | Jul. 31, 2022 | Oct. 31, 2021 |
JYD WLKJ [Member] | ||||
Organization and Principal Activities (Details) [Line Items] | ||||
Payment of share purchase (in Dollars) | $ 35 | |||
JYD SHWL [Member] | Owenership [Member] | ||||
Organization and Principal Activities (Details) [Line Items] | ||||
Equity interest | 51% | 52% | 51% |
Organization and Principal Ac_4
Organization and Principal Activities (Details) - Schedule of Subsidiaries of the Group Are All Owned By the Company through Equity Investment | 12 Months Ended |
Dec. 31, 2023 | |
Jayud Global Logistics (HongKong) Limited (“JYD HK”) [Member] | |
Schedule of subsidiaries of the group are all owned by the Company through equity investment [Abstract] | |
Controlled by | Jayud |
Date of incorporation | June 24, 2022 |
Place of incorporation | Hong Kong |
Principal activities | Wholly foreign owned enterprise |
Jayud Global Logistics (HongKong) Limited (“JYD HK”) [Member] | Owenership [Member] | |
Schedule of subsidiaries of the group are all owned by the Company through equity investment [Abstract] | |
Percentage of direct ownership | 100% |
Joyed Logistics Services Inc. (“JYD US”) [Member] | |
Schedule of subsidiaries of the group are all owned by the Company through equity investment [Abstract] | |
Controlled by | Jayud |
Date of incorporation | April 25, 2023 |
Place of incorporation | U.S.A. |
Principal activities | Freight forwarding |
Joyed Logistics Services Inc. (“JYD US”) [Member] | Owenership [Member] | |
Schedule of subsidiaries of the group are all owned by the Company through equity investment [Abstract] | |
Percentage of direct ownership | 100% |
Shenzhen Jayud Logistics Technology Co., Ltd (“JYD WLKJ”) [Member] | |
Schedule of subsidiaries of the group are all owned by the Company through equity investment [Abstract] | |
Controlled by | JYD HK |
Date of incorporation | July 23, 2015 |
Place of incorporation | PRC |
Principal activities | Freight forwarding |
Shenzhen Jayud Logistics Technology Co., Ltd (“JYD WLKJ”) [Member] | Owenership [Member] | |
Schedule of subsidiaries of the group are all owned by the Company through equity investment [Abstract] | |
Percentage of direct ownership | 100% |
Hongkong Jayud International Logistics Company Limited (“JYD HKGJHY”) [Member] | |
Schedule of subsidiaries of the group are all owned by the Company through equity investment [Abstract] | |
Controlled by | JYD HK |
Date of incorporation | December 31, 2017 |
Place of incorporation | Hong Kong |
Principal activities | Agent service |
Hongkong Jayud International Logistics Company Limited (“JYD HKGJHY”) [Member] | Owenership [Member] | |
Schedule of subsidiaries of the group are all owned by the Company through equity investment [Abstract] | |
Percentage of direct ownership | 100% |
HK XINYX Technology Limited (“HK XYX”) [Member] | |
Schedule of subsidiaries of the group are all owned by the Company through equity investment [Abstract] | |
Controlled by | JYD HK |
Date of incorporation | September 6, 2023 |
Place of incorporation | Hong Kong |
Principal activities | International trading |
HK XINYX Technology Limited (“HK XYX”) [Member] | Owenership [Member] | |
Schedule of subsidiaries of the group are all owned by the Company through equity investment [Abstract] | |
Percentage of direct ownership | 100% |
Shenzhen Jia Yu Da International Logistics Co., Ltd. And its Tianjin Branch, Guangzhou Branch, Qingdao Branch and Ningbo Branch (“JYD SZGJHY”) [Member] | |
Schedule of subsidiaries of the group are all owned by the Company through equity investment [Abstract] | |
Controlled by | JYD WLKJ |
Date of incorporation | June 19, 2011 |
Place of incorporation | PRC |
Principal activities | Freight forwarding |
Shenzhen Jia Yu Da International Logistics Co., Ltd. And its Tianjin Branch, Guangzhou Branch, Qingdao Branch and Ningbo Branch (“JYD SZGJHY”) [Member] | Owenership [Member] | |
Schedule of subsidiaries of the group are all owned by the Company through equity investment [Abstract] | |
Percentage of direct ownership | 100% |
Shenzhen Jia Yu Da Trading Co., Ltd. (“JYD SM”) [Member] | |
Schedule of subsidiaries of the group are all owned by the Company through equity investment [Abstract] | |
Controlled by | JYD WLKJ |
Date of incorporation | September 18, 2009 |
Place of incorporation | PRC |
Principal activities | International trading |
Shenzhen Jia Yu Da Trading Co., Ltd. (“JYD SM”) [Member] | Owenership [Member] | |
Schedule of subsidiaries of the group are all owned by the Company through equity investment [Abstract] | |
Percentage of direct ownership | 100% |
Xuchang Jayud Supply Chain Management Co., Ltd (“JYD XC”) [Member] | |
Schedule of subsidiaries of the group are all owned by the Company through equity investment [Abstract] | |
Controlled by | JYD WLKJ |
Date of incorporation | May 6, 2021 |
Place of incorporation | PRC |
Principal activities | Freight forwarding |
Xuchang Jayud Supply Chain Management Co., Ltd (“JYD XC”) [Member] | Owenership [Member] | |
Schedule of subsidiaries of the group are all owned by the Company through equity investment [Abstract] | |
Percentage of direct ownership | 100% |
Shenzhen Jiayuda Customs Declaration Co., Ltd. (“JYD BG”) [Member] | |
Schedule of subsidiaries of the group are all owned by the Company through equity investment [Abstract] | |
Controlled by | JYD WLKJ |
Date of incorporation | September 14, 2015 |
Place of incorporation | PRC |
Principal activities | Customs brokerage |
Shenzhen Jiayuda Customs Declaration Co., Ltd. (“JYD BG”) [Member] | Owenership [Member] | |
Schedule of subsidiaries of the group are all owned by the Company through equity investment [Abstract] | |
Percentage of direct ownership | 100% |
Shenzhen XIN YU Xiang Import & Export Co., Ltd. (“JYD XYX”) [Member] | |
Schedule of subsidiaries of the group are all owned by the Company through equity investment [Abstract] | |
Controlled by | JYD WLKJ |
Date of incorporation | October 26, 2011 |
Place of incorporation | PRC |
Principal activities | International trading |
Shenzhen XIN YU Xiang Import & Export Co., Ltd. (“JYD XYX”) [Member] | Owenership [Member] | |
Schedule of subsidiaries of the group are all owned by the Company through equity investment [Abstract] | |
Percentage of direct ownership | 100% |
Shenzhen Ronghai Tongda Supply Chain Management Co., Ltd (“JYD RHTD”) [Member] | |
Schedule of subsidiaries of the group are all owned by the Company through equity investment [Abstract] | |
Controlled by | JYD XYX |
Date of incorporation | July 31, 2023 |
Place of incorporation | PRC |
Principal activities | International trading |
Shenzhen Ronghai Tongda Supply Chain Management Co., Ltd (“JYD RHTD”) [Member] | Owenership [Member] | |
Schedule of subsidiaries of the group are all owned by the Company through equity investment [Abstract] | |
Percentage of direct ownership | 51% |
Shenzhen Jiayuda Global Supply Chain Co., Ltd. (“JYD HQ”) [Member] | |
Schedule of subsidiaries of the group are all owned by the Company through equity investment [Abstract] | |
Controlled by | JYD WLKJ |
Date of incorporation | April 23, 2014 |
Place of incorporation | PRC |
Principal activities | Freight forwarding |
Shenzhen Jiayuda Global Supply Chain Co., Ltd. (“JYD HQ”) [Member] | Owenership [Member] | |
Schedule of subsidiaries of the group are all owned by the Company through equity investment [Abstract] | |
Percentage of direct ownership | 100% |
Sky Pacific Logistics HK Company Limited (“TPYHK”) [Member] | |
Schedule of subsidiaries of the group are all owned by the Company through equity investment [Abstract] | |
Controlled by | JYD HQ |
Date of incorporation | March 2, 2016 |
Place of incorporation | Hong Kong |
Principal activities | Agent service |
Sky Pacific Logistics HK Company Limited (“TPYHK”) [Member] | Owenership [Member] | |
Schedule of subsidiaries of the group are all owned by the Company through equity investment [Abstract] | |
Percentage of direct ownership | 67% |
Shenzhen Jiayuda E-Commerce Technology Co., Ltd (“JYD DS”) [Member] | |
Schedule of subsidiaries of the group are all owned by the Company through equity investment [Abstract] | |
Controlled by | JYD WLKJ |
Date of incorporation | April 1, 2021 |
Place of incorporation | PRC |
Principal activities | Freight forwarding |
Shenzhen Jiayuda E-Commerce Technology Co., Ltd (“JYD DS”) [Member] | Owenership [Member] | |
Schedule of subsidiaries of the group are all owned by the Company through equity investment [Abstract] | |
Percentage of direct ownership | 100% |
Nanjing Jiayuda Logistics Co., Ltd. And its Nantong Branch, Xiamen Branch, and Danyang Branch (“JYD NJWL”) [Member] | |
Schedule of subsidiaries of the group are all owned by the Company through equity investment [Abstract] | |
Controlled by | JYD WLKJ |
Date of incorporation | February 12, 2018 |
Place of incorporation | PRC |
Principal activities | Freight forwarding |
Nanjing Jiayuda Logistics Co., Ltd. And its Nantong Branch, Xiamen Branch, and Danyang Branch (“JYD NJWL”) [Member] | Owenership [Member] | |
Schedule of subsidiaries of the group are all owned by the Company through equity investment [Abstract] | |
Percentage of direct ownership | 100% |
Shaanxi JiaYuda Supply Chain Management Co., Ltd. (“JYD SXGYL”) [Member] | |
Schedule of subsidiaries of the group are all owned by the Company through equity investment [Abstract] | |
Controlled by | JYD WLKJ |
Date of incorporation | March 27, 2018 |
Place of incorporation | PRC |
Principal activities | Freight forwarding |
Shaanxi JiaYuda Supply Chain Management Co., Ltd. (“JYD SXGYL”) [Member] | Owenership [Member] | |
Schedule of subsidiaries of the group are all owned by the Company through equity investment [Abstract] | |
Percentage of direct ownership | 100% |
Cargo Link Company Limited (“JYD SHWL”) [Member] | |
Schedule of subsidiaries of the group are all owned by the Company through equity investment [Abstract] | |
Controlled by | JYD WLKJ |
Date of incorporation | November 10, 2021 |
Place of incorporation | PRC |
Principal activities | Freight forwarding |
Cargo Link Company Limited (“JYD SHWL”) [Member] | Owenership [Member] | |
Schedule of subsidiaries of the group are all owned by the Company through equity investment [Abstract] | |
Percentage of direct ownership | 51% |
Shenzhen Jayud Yuncang Technology Co., Ltd. (“JYD YCKJ”) [Member] | |
Schedule of subsidiaries of the group are all owned by the Company through equity investment [Abstract] | |
Controlled by | JYD WLKJ |
Date of incorporation | July 25, 2022 |
Place of incorporation | PRC |
Principal activities | Warehousing |
Shenzhen Jayud Yuncang Technology Co., Ltd. (“JYD YCKJ”) [Member] | Owenership [Member] | |
Schedule of subsidiaries of the group are all owned by the Company through equity investment [Abstract] | |
Percentage of direct ownership | 52% |
Summary of Significant Accoun_3
Summary of Significant Accounting Policies (Details) | 1 Months Ended | 12 Months Ended | |||||||||||
Apr. 01, 2019 | Nov. 30, 2021 CNY (¥) | Dec. 31, 2023 CNY (¥) ¥ / shares | Dec. 31, 2023 USD ($) $ / shares | Dec. 31, 2022 CNY (¥) | Dec. 31, 2022 USD ($) | Dec. 31, 2021 CNY (¥) | Jan. 31, 2024 CNY (¥) | Jan. 31, 2024 USD ($) | Dec. 31, 2023 USD ($) | Dec. 31, 2022 USD ($) | Nov. 30, 2021 HKD ($) | Jun. 13, 2017 HKD ($) | |
Summary of Significant Accounting Policies [Line Items] | |||||||||||||
Foreign currency translation adjustments | ¥ (1,360,107) | $ (192,032) | ¥ (200,146) | ¥ 10,158 | |||||||||
Foreign currency exchange gain | ¥ (1,401,573) | $ (197,887) | 4,407,133 | 489,268 | |||||||||
Rate of convenience translation | (per share) | ¥ 7.0827 | $ 1 | |||||||||||
Operating segment | 1 | 1 | |||||||||||
Cash | ¥ 26,103,076 | 27,939,170 | 40,266,725 | $ 3,685,470 | |||||||||
Deposit | 500,000 | ||||||||||||
Cash and Restricted Cash | 501,952 | ¥ 501,952 | $ 70,870 | 70,870 | |||||||||
Accumulated interests | 1,952 | 275 | |||||||||||
Allowance for doubtful accounts | ¥ 10,196,104 | 1,185,328 | 682,905 | $ 1,439,579 | $ 167,355 | ||||||||
Rate of beneficial owner | 10% | 10% | |||||||||||
Operating costs and expenses | ¥ 2,400,000 | $ 300,000 | |||||||||||
Impairment charge | $ | |||||||||||||
Maintenance services revenue, term | 1 year | 1 year | |||||||||||
Contract assets | ¥ 2,023,221 | 4,460,046 | 3,203,033 | $ 285,657 | |||||||||
Contract with Customer relates advance payments | 4,777,398 | 1,989,310 | 7,851,588 | 674,519 | |||||||||
Advertising costs | 1,316,881 | $ 185,929 | 2,724,575 | 598,605 | |||||||||
Interest Expense | 995,162 | 140,506 | 795,144 | 1,046,305 | |||||||||
Deferred offering costs | 9,612,078 | 5,427,260 | 898,870 | 1,357,121 | |||||||||
Non-controlling interests | $ | $ 47,844 | $ 781 | |||||||||||
Employee benefit | 2,575,438 | 363,624 | 2,170,805 | 1,187,520 | |||||||||
Employee outstanding benefit plan | 251 | 35 | 20,960 | ||||||||||
Operating expenses | ¥ 63,883,988 | $ 9,019,723 | ¥ 36,683,906 | ¥ 21,693,211 | |||||||||
Value added tax percentage | 6% | 6% | 1% | 1% | 0% | ||||||||
Percentage of tax on logistics services | 9% | 9% | |||||||||||
Percentage on sale of product | 13% | 13% | |||||||||||
Percentage of tax rate on export | 17% | 17% | |||||||||||
Percentage of tax rate on export rebate | 17% | 17% | |||||||||||
Percentage of tax adjusted on export rebate | 16% | 16% | |||||||||||
Percentage of tax on export and border crossing activities | 11% | 11% | |||||||||||
Percentage of tax rate on Border crossing and rebate | 11% | 11% | |||||||||||
Percentage of tax rate on export rebate and cross border activities | 10% | 10% | |||||||||||
VAT rate on sales | 16% | ||||||||||||
Adjusted VAT rate on sales | 13% | ||||||||||||
Percentage of tax rate on exported goods | 16% | ||||||||||||
Percentage of tax refund on export | 16% | ||||||||||||
Percentage on adjusted tax of refund | 13% | ||||||||||||
Statutory reserve | 10% | 10% | |||||||||||
Registered capital | 50% | 50% | |||||||||||
Statutory reserves | ¥ 2,203,279 | ¥ 979,039 | |||||||||||
Deposits | ¥ 26,103,076 | 27,939,170 | $ 3,685,470 | ||||||||||
(ROU) Assets [Member] | |||||||||||||
Summary of Significant Accounting Policies [Line Items] | |||||||||||||
Impairment charge | ¥ 3,200,000 | $ 500,000 | |||||||||||
Maximum [Member] | |||||||||||||
Summary of Significant Accounting Policies [Line Items] | |||||||||||||
Percentage of deduction tax rate | 17% | 17% | |||||||||||
Percentage of import tax rate | 16% | 16% | |||||||||||
Minimum [Member] | |||||||||||||
Summary of Significant Accounting Policies [Line Items] | |||||||||||||
Percentage of deduction tax rate | 11% | 11% | |||||||||||
Percentage of import tax rate | 10% | 10% | |||||||||||
Foreign Exchange [Member] | |||||||||||||
Summary of Significant Accounting Policies [Line Items] | |||||||||||||
Foreign currency exchange gain | ¥ 1,401,573 | $ 197,887 | ¥ 4,407,133 | ¥ 489,268 | |||||||||
PRC [Member] | |||||||||||||
Summary of Significant Accounting Policies [Line Items] | |||||||||||||
Statutory reserves | 4,148,200 | 585,681 | |||||||||||
Long Lived Assets [Member] | |||||||||||||
Summary of Significant Accounting Policies [Line Items] | |||||||||||||
Operating expenses | ¥ 3,200,000 | $ 500,000 | |||||||||||
Mr. Mak Chun Pong [Member] | |||||||||||||
Summary of Significant Accounting Policies [Line Items] | |||||||||||||
Equity method investment ownership percentage | 67% | ||||||||||||
Cargo Link Logistics HK Company Limited [Member] | |||||||||||||
Summary of Significant Accounting Policies [Line Items] | |||||||||||||
Equity method investment ownership percentage | 100% | 33% | |||||||||||
Percentage of non controlling interest | 33% | ||||||||||||
Noncontrolling interest of parent equity value | |||||||||||||
Supplier One [Member] | Supplier Concentration Risk [Member] | Accounts Payable [Member] | |||||||||||||
Summary of Significant Accounting Policies [Line Items] | |||||||||||||
Concentration risk percentage | 20% | 20% | 28.10% | 28.10% | |||||||||
Supplier One [Member] | Supplier Concentration Risk [Member] | Purchases [Member] | |||||||||||||
Summary of Significant Accounting Policies [Line Items] | |||||||||||||
Concentration risk percentage | 12.10% | 12.10% | 20% | 20% | 36.40% | ||||||||
Supplier Two [Member] | Supplier Concentration Risk [Member] | Accounts Payable [Member] | |||||||||||||
Summary of Significant Accounting Policies [Line Items] | |||||||||||||
Concentration risk percentage | 14.60% | 14.60% | 12.80% | 12.80% | |||||||||
Supplier Two [Member] | Supplier Concentration Risk [Member] | Purchases [Member] | |||||||||||||
Summary of Significant Accounting Policies [Line Items] | |||||||||||||
Concentration risk percentage | 11.70% | 11.70% | 19.80% | 19.80% | |||||||||
Supplier Three [Member] | Supplier Concentration Risk [Member] | Accounts Payable [Member] | |||||||||||||
Summary of Significant Accounting Policies [Line Items] | |||||||||||||
Concentration risk percentage | 13.50% | 13.50% | |||||||||||
Supplier Three [Member] | Supplier Concentration Risk [Member] | Purchases [Member] | |||||||||||||
Summary of Significant Accounting Policies [Line Items] | |||||||||||||
Concentration risk percentage | 11% | 11% | |||||||||||
Cash [Member] | |||||||||||||
Summary of Significant Accounting Policies [Line Items] | |||||||||||||
Cash and Restricted Cash | ¥ 500,000 | $ 70,595 | |||||||||||
Customer Two [Member] | Customer Concentration Risk [Member] | Accounts Receivable [Member] | |||||||||||||
Summary of Significant Accounting Policies [Line Items] | |||||||||||||
Concentration risk percentage | 13% | 13% | |||||||||||
Customer Two [Member] | Customer Concentration Risk [Member] | Revenue Benchmark [Member] | |||||||||||||
Summary of Significant Accounting Policies [Line Items] | |||||||||||||
Concentration risk percentage | 12.20% | 12.20% | 11.30% | 11.30% | |||||||||
Customer One [Member] | Customer Concentration Risk [Member] | Accounts Receivable [Member] | |||||||||||||
Summary of Significant Accounting Policies [Line Items] | |||||||||||||
Concentration risk percentage | 17% | 17% | |||||||||||
Customer One [Member] | Customer Concentration Risk [Member] | Revenue Benchmark [Member] | |||||||||||||
Summary of Significant Accounting Policies [Line Items] | |||||||||||||
Concentration risk percentage | 12.30% | 12.30% | 18% | 18% | 13.10% |
Summary of Significant Accoun_4
Summary of Significant Accounting Policies (Details) - Schedule of Separate Component of Shareholders’ Equity on the Consolidated Financial Statement | Dec. 31, 2023 | Dec. 31, 2022 | Dec. 31, 2021 |
Schedule of Separate Component of Shareholders’ Equity on the Consolidated Financial Statement [Abstract] | |||
Year-end spot rate | 0.9056 | 0.8899 | 0.8168 |
Average rate | 0.8999 | 0.8578 | 0.8327 |
Summary of Significant Accoun_5
Summary of Significant Accounting Policies (Details) - Schedule of Estimated Residual Value of the Assets | Dec. 31, 2023 |
Machinery [Member] | |
Schedule of Estimated Residual Value of the Assets [Line Items] | |
Estimated useful life of assets | 5 years |
Other equipment [Member] | |
Schedule of Estimated Residual Value of the Assets [Line Items] | |
Estimated useful life of assets | 5 years |
Minimum [Member] | Motor vehicles [Member] | |
Schedule of Estimated Residual Value of the Assets [Line Items] | |
Estimated useful life of assets | 4 years |
Minimum [Member] | Electronic equipment [Member] | |
Schedule of Estimated Residual Value of the Assets [Line Items] | |
Estimated useful life of assets | 1 year |
Maximum [Member] | Motor vehicles [Member] | |
Schedule of Estimated Residual Value of the Assets [Line Items] | |
Estimated useful life of assets | 5 years |
Maximum [Member] | Electronic equipment [Member] | |
Schedule of Estimated Residual Value of the Assets [Line Items] | |
Estimated useful life of assets | 5 years |
Summary of Significant Accoun_6
Summary of Significant Accounting Policies (Details) - Schedule of Intangible Asset, Estimated Useful Lives - Software [Member] | Dec. 31, 2023 |
Minimum [Member] | |
Schedule of Intangible Asset, Estimated Useful Lives [Line Items] | |
Estimated useful lives | 5 years |
Maximum [Member] | |
Schedule of Intangible Asset, Estimated Useful Lives [Line Items] | |
Estimated useful lives | 10 years |
Summary of Significant Accoun_7
Summary of Significant Accounting Policies (Details) - Schedule of the Disaggregation of the Group’s Revenue | 12 Months Ended | ||||
Dec. 31, 2023 CNY (¥) | Dec. 31, 2023 USD ($) | Dec. 31, 2022 CNY (¥) | Dec. 31, 2021 CNY (¥) | Dec. 31, 2023 USD ($) | |
Schedule of the Disaggregation of the Group’S Revenue [Line Items] | |||||
Freight forwarding services, amount | ¥ 342,582,431 | $ 48,368,903 | ¥ 577,567,025 | ¥ 488,036,905 | |
Freight forwarding services, percentage | 68.80% | 68.80% | 88.60% | 89.50% | |
Supply chain management, amount | ¥ 152,630,138 | $ 21,549,711 | ¥ 69,022,899 | ¥ 53,531,895 | |
Supply chain management, percentage | 30.70% | 30.70% | 10.60% | 9.80% | |
Other services, amount | ¥ 2,655,631 | $ 374,946 | ¥ 5,401,669 | ¥ 4,024,697 | |
Other services, percentage | 0.50% | 0.50% | 0.80% | 0.70% | |
Revenue, total | ¥ 497,868,200 | ¥ 651,991,593 | ¥ 545,593,497 | $ 70,293,560 | |
Revenue, percentage | 100% | 100% | 100% | 100% | |
Integrated cross-border logistics [Member] | |||||
Schedule of the Disaggregation of the Group’S Revenue [Line Items] | |||||
Freight forwarding services, amount | ¥ 219,651,690 | $ 31,012,423 | ¥ 444,335,722 | ¥ 390,229,299 | |
Freight forwarding services, percentage | 44.10% | 44.10% | 68.20% | 71.50% | |
Fragmented logistics [Member] | |||||
Schedule of the Disaggregation of the Group’S Revenue [Line Items] | |||||
Freight forwarding services, amount | ¥ 94,720,210 | $ 13,373,461 | ¥ 133,231,303 | ¥ 97,807,606 | |
Freight forwarding services, percentage | 19% | 19% | 20.40% | 18% | |
Chartered airline freight services [Member] | |||||
Schedule of the Disaggregation of the Group’S Revenue [Line Items] | |||||
Freight forwarding services, amount | ¥ 28,210,531 | $ 3,983,019 | |||
Freight forwarding services, percentage | 5.70% | 5.70% | |||
International trading in relation to supply chain management [Member] | |||||
Schedule of the Disaggregation of the Group’S Revenue [Line Items] | |||||
Supply chain management, amount | ¥ 152,544,744 | $ 21,537,654 | ¥ 68,878,594 | ¥ 52,974,861 | |
Supply chain management, percentage | 30.70% | 30.70% | 10.60% | 9.70% | |
Agent services [Member] | |||||
Schedule of the Disaggregation of the Group’S Revenue [Line Items] | |||||
Supply chain management, amount | ¥ 85,394 | $ 12,057 | ¥ 144,305 | ¥ 557,034 | |
Supply chain management, percentage | 0% | 0% | 0% | 0.10% | |
Customs brokerage [Member] | |||||
Schedule of the Disaggregation of the Group’S Revenue [Line Items] | |||||
Other services, amount | ¥ 2,544,116 | $ 359,201 | ¥ 4,098,297 | ¥ 2,750,027 | |
Other services, percentage | 0.50% | 0.50% | 0.60% | 0.50% | |
Software development [Member] | |||||
Schedule of the Disaggregation of the Group’S Revenue [Line Items] | |||||
Other services, amount | ¥ 111,515 | $ 15,745 | ¥ 1,303,372 | ¥ 1,274,670 | |
Other services, percentage | 0% | 0% | 0.20% | 0.20% |
Summary of Significant Accoun_8
Summary of Significant Accounting Policies (Details) - Schedule of Revenue Recognition | Dec. 31, 2023 CNY (¥) | Dec. 31, 2023 USD ($) | Dec. 31, 2022 CNY (¥) | Dec. 31, 2021 CNY (¥) |
Schedule of Revenue Recognition [Line Items] | ||||
Total revenue | ¥ 497,868,200 | $ 70,293,560 | ¥ 651,991,593 | ¥ 545,593,497 |
Point in time [Member] | ||||
Schedule of Revenue Recognition [Line Items] | ||||
Total revenue | 158,069,415 | 22,317,678 | 71,448,443 | 53,531,895 |
Over time [Member] | ||||
Schedule of Revenue Recognition [Line Items] | ||||
Total revenue | ¥ 339,798,785 | $ 47,975,882 | ¥ 580,543,150 | ¥ 492,061,602 |
Summary of Significant Accoun_9
Summary of Significant Accounting Policies (Details) - Schedule of Contract Liabilities at the Beginning of the Reporting Period | Dec. 31, 2023 CNY (¥) | Dec. 31, 2023 USD ($) | Dec. 31, 2022 CNY (¥) | Dec. 31, 2021 CNY (¥) |
Schedule of Contract Liabilities at the Beginning of the Reporting Period [Abstract] | ||||
Revenue recognized that was included in contract liabilities at the beginning of the reporting period: | ¥ 1,989,310 | $ 280,869 | ¥ 7,851,588 | ¥ 1,908,488 |
Summary of Significant Accou_10
Summary of Significant Accounting Policies (Details) - Schedule of Balance of Non-Controlling Interest | Dec. 31, 2023 CNY (¥) | Dec. 31, 2023 USD ($) | Dec. 31, 2022 CNY (¥) |
Schedule of Balance of Non-Controlling Interest [Line Items] | |||
Total Non-Controlling Interest | ¥ (7,676,674) | $ (1,083,863) | ¥ (2,428,070) |
TYPHK [Member] | |||
Schedule of Balance of Non-Controlling Interest [Line Items] | |||
Total Non-Controlling Interest | (164,701) | (23,254) | (72,220) |
JYD SHWL [Member] | |||
Schedule of Balance of Non-Controlling Interest [Line Items] | |||
Total Non-Controlling Interest | (1,434,739) | (202,569) | (890,560) |
JYD YCKJ [Member] | |||
Schedule of Balance of Non-Controlling Interest [Line Items] | |||
Total Non-Controlling Interest | (9,304,266) | (1,313,661) | (1,465,290) |
JYD RHTD [Member] | |||
Schedule of Balance of Non-Controlling Interest [Line Items] | |||
Total Non-Controlling Interest | ¥ 3,277,031 | $ 455,622 |
Going Concern (Details)
Going Concern (Details) | 12 Months Ended | ||||
Dec. 31, 2023 CNY (¥) | Dec. 31, 2023 USD ($) | Dec. 31, 2022 CNY (¥) | Dec. 31, 2021 CNY (¥) | Dec. 31, 2023 USD ($) | |
Going Concern [Line Items] | |||||
Net loss | ¥ (80,275,344) | $ (11,334,004) | ¥ 1,377,897 | ¥ 10,223,668 | |
Operating flows | (44,222,478) | (6,243,734) | (15,231,895) | ¥ 4,239,582 | |
Working capital deficit | 27,022,427 | $ 3,815,273 | |||
Accumulated deficit | ¥ (77,454,208) | ¥ (9,025,668) | $ (10,935,689) | ||
Shareholder loan | $ 2,000,000 |
Accounts Receivable, Net (Detai
Accounts Receivable, Net (Details) | 12 Months Ended | |||
Dec. 31, 2023 CNY (¥) | Dec. 31, 2023 USD ($) | Dec. 31, 2022 CNY (¥) | Dec. 31, 2021 CNY (¥) | |
Accounts Receivable, Net [Line Item] | ||||
Bad debt expenses | ¥ 9,417,342 | $ 1,329,626 | ¥ 700,505 | ¥ 442,706 |
Written off | ¥ 406,566 | $ 57,402 | ¥ 198,082 |
Accounts Receivable, Net (Det_2
Accounts Receivable, Net (Details) - Schedule of Accounts Receivable | Dec. 31, 2023 CNY (¥) | Dec. 31, 2023 USD ($) | Dec. 31, 2022 CNY (¥) |
Schedule of Accounts Receivable [Abstract] | |||
Accounts receivable | ¥ 51,478,092 | $ 7,268,146 | ¥ 32,098,662 |
Allowance for credit losses related to accounts receivable | (10,196,104) | (1,439,579) | (1,185,328) |
Total accounts receivable, net | ¥ 41,281,988 | $ 5,828,567 | ¥ 30,913,334 |
Accounts Receivable, Net (Det_3
Accounts Receivable, Net (Details) - Schedule of Allowance of Doubtful Accounts | 12 Months Ended | |||
Dec. 31, 2023 CNY (¥) | Dec. 31, 2023 USD ($) | Dec. 31, 2022 CNY (¥) | Dec. 31, 2021 CNY (¥) | |
Schedule of Allowance of Doubtful Accounts [Abstract] | ||||
Beginning balance | ¥ 1,185,328 | $ 167,355 | ¥ 682,905 | |
Addition | 9,745,364 | 1,375,938 | 700,505 | |
Write off | (406,566) | (57,402) | (198,082) | |
Reverse | (328,022) | (46,312) | ||
Ending balance | ¥ 10,196,104 | $ 1,439,579 | ¥ 1,185,328 | ¥ 682,905 |
Prepaid Expenses and Other Cu_3
Prepaid Expenses and Other Current Assets, Net (Details) | 12 Months Ended | |||
Dec. 31, 2023 CNY (¥) | Dec. 31, 2023 USD ($) | Dec. 31, 2022 CNY (¥) | Dec. 31, 2021 CNY (¥) | |
Prepaid Expenses and Other Current Assets, Net [Line Items] | ||||
Bad debt expense | ¥ 8,761,236 | $ 1,236,992 | ¥ 237,704 | |
Bad debt write off | ¥ 25,493 | $ 3,600 | ¥ 4,744,565 |
Prepaid Expenses and Other Cu_4
Prepaid Expenses and Other Current Assets, Net (Details) - Schedule of Prepaid Expenses and Other Current Assets | Dec. 31, 2023 CNY (¥) | Dec. 31, 2023 USD ($) | Dec. 31, 2022 CNY (¥) | |||
Schedule of Prepaid Expenses and Other Current Assets [Abstract] | ||||||
Advanced to suppliers | [1] | ¥ 1,602,310 | $ 226,229 | ¥ 2,222,046 | ||
Tax refund | [2] | 1,924,536 | ||||
Deposits | [3] | 9,644,591 | 1,361,711 | 6,238,305 | ||
Tax/expenses paid on behalf of clients | 3,182,361 | 449,315 | 413,304 | |||
Loan & interest receivable | 3,845,273 | 542,911 | [4] | [4] | ||
Other receivables | [5] | 3,212,790 | 453,610 | 1,650,503 | ||
Total | 21,487,325 | 3,033,776 | 12,448,694 | |||
Allowance for credit losses related to prepaid expenses and other current assets | (8,973,447) | (1,266,953) | (237,704) | |||
Total prepaid expenses and other receivables, net | ¥ 12,513,878 | $ 1,766,823 | ¥ 12,210,990 | |||
[1] The balance mainly represents the advance payments made chartered airlines freight services and rent. The balance mainly represents the tax refund JYD SM entitled from international trading business. The Group has recorded full allowance for the portion with doubt of collection. The balance mainly represents the current operational deposits for lease and cargo space reservation to vendors. |
Prepaid Expenses and Other Cu_5
Prepaid Expenses and Other Current Assets, Net (Details) - Schedule of Allowance of Doubtful Accounts | 12 Months Ended | |||
Dec. 31, 2023 CNY (¥) | Dec. 31, 2023 USD ($) | Dec. 31, 2022 CNY (¥) | Dec. 31, 2021 CNY (¥) | |
Schedule of Allowance of Doubtful Accounts [Abstract] | ||||
Beginning balance | ¥ 237,704 | $ 33,561 | ¥ 4,744,565 | |
Addition | 8,761,236 | 1,236,992 | 237,704 | |
Write off | (25,493) | (3,600) | (4,744,565) | |
Ending balance | ¥ 8,973,447 | $ 1,266,953 | ¥ 237,704 | ¥ 4,744,565 |
Property and Equipment, Net (De
Property and Equipment, Net (Details) | 12 Months Ended | |||
Dec. 31, 2023 CNY (¥) | Dec. 31, 2023 USD ($) | Dec. 31, 2022 CNY (¥) | Dec. 31, 2021 CNY (¥) | |
Property and Equipment, Net [Line Items] | ||||
Depreciation expense | ¥ 881,076 | $ 124,398 | ¥ 685,714 | ¥ 545,048 |
Operating expenses | ¥ 2,400,000 | $ 300,000 |
Property and Equipment, Net (_2
Property and Equipment, Net (Details) - Schedule of Property and Equipment, Net | Dec. 31, 2023 CNY (¥) | Dec. 31, 2023 USD ($) | Dec. 31, 2022 CNY (¥) |
Schedule of Property and Equipment Net [Line Items] | |||
Property and equipment, gross | ¥ 6,728,054 | $ 949,928 | ¥ 5,482,829 |
Less: accumulated depreciation | (3,200,069) | (451,815) | (2,869,565) |
Property and equipment, other | 3,527,985 | 498,113 | 2,613,264 |
Less: impairment charges | (2,404,009) | (339,420) | |
Property and equipment, net | 1,123,976 | 158,693 | 2,613,264 |
Motor vehicles [Member] | |||
Schedule of Property and Equipment Net [Line Items] | |||
Property and equipment, gross | 1,485,841 | 209,785 | 1,538,213 |
Electronic equipment [Member] | |||
Schedule of Property and Equipment Net [Line Items] | |||
Property and equipment, gross | 2,033,203 | 287,066 | 1,783,988 |
Machinery [Member] | |||
Schedule of Property and Equipment Net [Line Items] | |||
Property and equipment, gross | 1,139,270 | 160,853 | 1,119,594 |
Other equipment [Member] | |||
Schedule of Property and Equipment Net [Line Items] | |||
Property and equipment, gross | 1,413,753 | 199,607 | 1,041,034 |
Construction in progress [Member] | |||
Schedule of Property and Equipment Net [Line Items] | |||
Property and equipment, gross | ¥ 655,987 | $ 92,617 |
Intangible Assets, Net (Details
Intangible Assets, Net (Details) | 12 Months Ended | |||
Dec. 31, 2023 CNY (¥) | Dec. 31, 2023 USD ($) | Dec. 31, 2022 CNY (¥) | Dec. 31, 2021 CNY (¥) | |
Intangible Assets, Net [Line Items] | ||||
Amortization expense | ¥ 250,720 | $ 35,399 | ¥ 162,950 | ¥ 143,818 |
Disposal loss | ¥ 608,588 |
Intangible Assets, Net (Detai_2
Intangible Assets, Net (Details) - Schedule of Intangible Asset, Net | Dec. 31, 2023 CNY (¥) | Dec. 31, 2023 USD ($) | Dec. 31, 2022 CNY (¥) |
Schedule of Intangible Asset, Net [Abstract] | |||
Software | ¥ 2,096,218 | $ 295,963 | ¥ 1,438,175 |
Less: accumulated depreciation | (101,350) | (14,309) | (680,216) |
Intangible assets, net | ¥ 1,994,868 | $ 281,654 | ¥ 757,959 |
Prepayment for Acquisition (Det
Prepayment for Acquisition (Details) | Dec. 31, 2023 CNY (¥) | Dec. 31, 2023 USD ($) | Jul. 05, 2023 | Dec. 31, 2022 CNY (¥) | Jun. 27, 2022 | ||
Prepayment for Acquisition [Line Items] | |||||||
Prepaid expenses non current | ¥ 3,596,823 | ||||||
Amount invest | ¥ 4,500,000 | ||||||
Investment interest rate | 13.50% | 13.50% | 10.512% | 10.512% | |||
Bad debt allowance of include interest | ¥ 3,845,273 | $ 542,911 | [1] | [1] | |||
[1]The balance represents the principal and interests of the loan to Shenzhen Expecs Technology Co., Ltd. Refer to Note 8 for details. |
Short-Term Borrowings (Details)
Short-Term Borrowings (Details) | 12 Months Ended | |||||||||||||||||||||
May 09, 2023 CNY (¥) | Mar. 29, 2023 CNY (¥) | Dec. 31, 2023 CNY (¥) | Dec. 31, 2023 USD ($) | Dec. 31, 2022 CNY (¥) | Dec. 31, 2022 USD ($) | Dec. 31, 2021 CNY (¥) | Dec. 31, 2023 USD ($) | Nov. 22, 2023 CNY (¥) | Nov. 22, 2023 USD ($) | Nov. 14, 2023 USD ($) | Oct. 30, 2023 CNY (¥) | Oct. 30, 2023 USD ($) | Jul. 05, 2023 CNY (¥) | Jul. 05, 2023 USD ($) | May 09, 2023 USD ($) | Mar. 29, 2023 USD ($) | Nov. 14, 2022 CNY (¥) | Nov. 14, 2022 USD ($) | Jun. 27, 2022 CNY (¥) | Jun. 27, 2022 USD ($) | Mar. 15, 2020 CNY (¥) | |
Short-Term Borrowings [Line Items] | ||||||||||||||||||||||
Loans amount | ¥ 2,000,000 | ¥ 5,000,000 | $ 282,378 | $ 705,945 | ¥ 10,000,000 | $ 1,411,891 | ||||||||||||||||
Term of interest rate | 1 year | 1 year | ||||||||||||||||||||
Loan agreement | ¥ 5,000,000 | $ 705,945 | $ 1,000,000 | ¥ 3,000,000 | $ 423,567 | ¥ 2,000,000 | $ 282,378 | ¥ 2,000,000 | $ 282,378 | ¥ 3,000,000 | ||||||||||||
Interest rate | 13.50% | 13.50% | 10.512% | 10.512% | 10.512% | 10.512% | ||||||||||||||||
Wiithdraw amount | ¥ 6,743,530 | $ 952,113 | ||||||||||||||||||||
Interest expenses | ¥ 649,517 | $ 91,705 | ¥ 483,727 | ¥ 343,544 | ||||||||||||||||||
Weighted average interest rate | 4.93% | 4.57% | 4.57% | 4.29% | 4.93% | |||||||||||||||||
JYD WLKJ [Member] | ||||||||||||||||||||||
Short-Term Borrowings [Line Items] | ||||||||||||||||||||||
Interest rate | 4.10% | 4.10% | ||||||||||||||||||||
Xiaogang Geng and Xiaohua Jia [Member] | ||||||||||||||||||||||
Short-Term Borrowings [Line Items] | ||||||||||||||||||||||
Interest rate | 3.80% | 3.80% | ||||||||||||||||||||
Repaid amount | ¥ 700,000 | 98,832 | ¥ 200,000 | $ 28,238 | ||||||||||||||||||
Outstanding amount | 6,300,000 | 889,491 | ||||||||||||||||||||
Industrial and Commercial Bank of China [Member] | ||||||||||||||||||||||
Short-Term Borrowings [Line Items] | ||||||||||||||||||||||
Interest rate | 4.65% | |||||||||||||||||||||
Shenzhen Futian Yinzuo Rural Bank [Member] | ||||||||||||||||||||||
Short-Term Borrowings [Line Items] | ||||||||||||||||||||||
Repaid amount | 440,032 | 62,128 | ||||||||||||||||||||
Bank of China Shenzhen Dongbu Branch [Member] | ||||||||||||||||||||||
Short-Term Borrowings [Line Items] | ||||||||||||||||||||||
Interest rate | 3.60% | 3.60% | 3.75% | 3.75% | 4.34% | 4.34% | ||||||||||||||||
Bank of Ningbo [Member] | ||||||||||||||||||||||
Short-Term Borrowings [Line Items] | ||||||||||||||||||||||
Interest rate | 6.53% | |||||||||||||||||||||
Shenzhen Futian Yinzuo Rural Bank [Member] | ||||||||||||||||||||||
Short-Term Borrowings [Line Items] | ||||||||||||||||||||||
Outstanding amount | ¥ 1,559,968 | $ 220,250 |
Short-Term Borrowings (Detail_2
Short-Term Borrowings (Details) - Schedule of Short-Term Borrowings | Dec. 31, 2023 CNY (¥) | Dec. 31, 2023 USD ($) | Dec. 31, 2022 CNY (¥) | |
Short-Term Borrowings [Line Items] | ||||
Total short-term borrowings | ¥ 25,603,498 | $ 3,614,935 | ¥ 14,800,000 | |
Bank of China Shenzhen Nantou Branch [Member] | ||||
Short-Term Borrowings [Line Items] | ||||
Total short-term borrowings | [1] | 6,300,000 | 889,493 | |
Industrial and Commercial Bank of China [Member] | ||||
Short-Term Borrowings [Line Items] | ||||
Total short-term borrowings | [2] | 3,000,000 | 423,567 | 3,000,000 |
Shenzhen Futian Yinzuo Rural Bank [Member] | ||||
Short-Term Borrowings [Line Items] | ||||
Total short-term borrowings | [3] | 1,559,968 | 220,250 | 2,000,000 |
Bank of China Shenzhen Dongbu Branch [Member] | ||||
Short-Term Borrowings [Line Items] | ||||
Total short-term borrowings | [4] | 5,000,000 | 705,945 | 9,800,000 |
Bank of China Shenzhen Dongbu Branch [Member] | ||||
Short-Term Borrowings [Line Items] | ||||
Total short-term borrowings | [5] | 3,000,000 | 423,567 | |
Bank of Ningbo [Member] | ||||
Short-Term Borrowings [Line Items] | ||||
Total short-term borrowings | [6] | ¥ 6,743,530 | $ 952,113 | |
[1]On March 29, 2023, JYD WLKJ entered into a working capital loan agreement with Bank of China Shenzhen Nantou Branch in the total amount of RMB5,000,000(US$705,945) with one one USD28,238 000,000 |
Accrued Expenses and Other Cu_3
Accrued Expenses and Other Current Liabilities (Details) - Schedule of Accrued Expenses and Other Current Liabilities | Dec. 31, 2023 CNY (¥) | Dec. 31, 2023 USD ($) | Dec. 31, 2022 CNY (¥) | |
Schedule of Accrued Expenses and Other Current Liabilities [Abstract] | ||||
Accrued payroll and employee benefits | ¥ 3,416,836 | $ 482,420 | ¥ 2,089,072 | |
Payable to third parties | [1] | 1,818,200 | 256,710 | 1,209,742 |
Deposit payable | 2,017,770 | 284,887 | 619,786 | |
Others | 233,075 | 32,908 | 299,132 | |
Total | ¥ 7,485,881 | $ 1,056,925 | ¥ 4,217,732 | |
[1] The balance mainly represents the payables for acquiring services for daily operations such as property fees, rent and utility bills as well as professional and consulting services as of December 31, 2022 and 2023. |
Loans Payable - Third Parties (
Loans Payable - Third Parties (Details) | Dec. 31, 2023 CNY (¥) | Dec. 31, 2023 USD ($) |
Loans Payable - Third Parties [Line Items] | ||
Borrowed an interest-free loan | ¥ 2,833,080 | $ 400,000 |
Interest rate | 6% | 6% |
Leases (Details)
Leases (Details) | 12 Months Ended | |||
Dec. 31, 2023 CNY (¥) | Dec. 31, 2023 USD ($) | Dec. 31, 2022 CNY (¥) | Dec. 31, 2021 CNY (¥) | |
Leases [Line Items] | ||||
Sublease income | ¥ 707,009 | $ 99,822 | ||
Sublease cost | 858,098 | 121,154 | ||
Total operating lease expenses | 24,498,055 | 3,458,858 | ¥ 10,933,292 | ¥ 3,498,048 |
Lease termination loss | ¥ (478,933) | $ (67,620) |
Leases (Details) - Schedule of
Leases (Details) - Schedule of Balance Sheet Information Related to Operating Lease | 12 Months Ended | |||||
Dec. 31, 2023 CNY (¥) | Dec. 31, 2023 USD ($) | Dec. 31, 2022 CNY (¥) | Dec. 31, 2021 CNY (¥) | Dec. 31, 2023 USD ($) | ||
Schedule of Balance Sheet Information Related to Operating Lease [Abstract] | ||||||
Right-of-use assets | ¥ 12,237,211 | ¥ 31,403,688 | $ 1,728,505 | |||
Less: impairment | (3,244,676) | (458,857) | ||||
Right-of-use assets | 8,992,535 | 31,403,688 | 1,269,648 | |||
Operating lease liabilities – current | 8,806,671 | 18,079,265 | 1,243,406 | |||
Operating lease liabilities – non-current | 5,216,622 | 13,276,535 | 736,530 | |||
Total operating lease liabilities | 14,023,293 | 31,355,800 | $ 1,979,936 | |||
Lease expense | ||||||
Operating lease expense - third party | 10,148,284 | $ 1,432,827 | 10,933,292 | |||
Short-term lease expense | 15,056,781 | 2,125,853 | ||||
Sublease income | [1] | (707,009) | (99,822) | |||
Total lease expense | 24,498,055 | 3,458,858 | 10,933,292 | ¥ 3,498,048 | ||
Other information | ||||||
Cash paid for operating leases | 8,543,549 | 1,206,256 | ||||
Right-of-use assets obtained in exchange for operating new lease liabilities | ¥ 15,838,886 | $ 2,236,278 | ¥ 35,873,660 | |||
[1]For the year ended December 31, 2023, the Group incurred sublease income of RMB 707,009 (US$99,822), and sublease cost of RMB 858,098 (US$121,154). |
Leases (Details) - Schedule o_2
Leases (Details) - Schedule of Weighted Average Remaining Lease Terms and Discount Rates | Dec. 31, 2023 |
Remaining lease term and discount rate: | |
Weighted average remaining lease term | 2 years 3 months 29 days |
Weighted average discount rate | 4.20% |
Leases (Details) - Schedule o_3
Leases (Details) - Schedule of Future Minimum Payments | Dec. 31, 2023 CNY (¥) | Dec. 31, 2023 USD ($) | Dec. 31, 2022 CNY (¥) |
Schedule of Future Minimum Payments [Abstract] | |||
2024 | ¥ 9,206,946 | $ 1,299,920 | |
2025 | 3,510,711 | 495,674 | |
2026 | 581,689 | 82,128 | |
2027 | 539,727 | 76,204 | |
2028 | 334,122 | 47,174 | |
Thereafter | 558,808 | 78,898 | |
Total lease payments | 14,732,003 | 2,079,998 | |
Less: imputed interest | 708,710 | 100,062 | |
Total operating lease liabilities, net of interest | ¥ 14,023,293 | $ 1,979,936 | ¥ 31,355,800 |
Long-Term Borrowing (Details)
Long-Term Borrowing (Details) | 12 Months Ended | ||||||
Dec. 31, 2023 CNY (¥) | Dec. 31, 2023 USD ($) | Dec. 31, 2022 CNY (¥) | Dec. 31, 2021 CNY (¥) | Dec. 31, 2023 USD ($) | Dec. 23, 2022 CNY (¥) | Dec. 23, 2022 USD ($) | |
Long-Term Borrowing [Line Items] | |||||||
Maturing year | 1 year | 1 year | |||||
Loan amount | ¥ 5,000,000 | $ 705,945 | |||||
Interest rate of long term debt | 4.15% | 4.15% | |||||
Remaining loan amount | ¥ 2,833,080 | $ 400,000 | ¥ 3,800,000 | $ 536,519 | |||
Outstanding | 4,400,000 | $ 621,232 | |||||
Interest expenses | 192,755 | $ 27,215 | ¥ 172,578 | ¥ 197,103 | |||
Long Term Loan [Member] | |||||||
Long-Term Borrowing [Line Items] | |||||||
Debt repaid | ¥ 600,000 | $ 84,713 | ¥ 50,000 | $ 7,059 |
Taxation (Details)
Taxation (Details) $ in Millions | 12 Months Ended | |||
Apr. 01, 2018 HKD ($) | Dec. 31, 2023 CNY (¥) | Dec. 31, 2022 CNY (¥) | Dec. 31, 2021 CNY (¥) | |
Taxation [Line Items] | ||||
Profits tax percentage | 8.25% | |||
Profits tax rate (in Dollars) | $ | $ 2 | |||
Income tax rate percentage | 25% | |||
General tax rate percentage | 25% | 25% | ||
Annual taxable income (in Yuan Renminbi) | ¥ 3,000,000 | |||
Total assets (in Yuan Renminbi) | ¥ 50,000,000 | |||
Corporate income tax rate | 20% | 1% | ||
Taxable income (in Yuan Renminbi) | ¥ 3,000,000 | ¥ 1,000,000 | ||
Corporate income tax | 20% | |||
Taxable income amount (in Yuan Renminbi) | ¥ 3,000,000 | |||
Maximum [Member] | ||||
Taxation [Line Items] | ||||
Corporate income tax rate | 25% | |||
Corporate income tax | 50% | |||
Minimum [Member] | ||||
Taxation [Line Items] | ||||
Corporate income tax rate | 12.50% | |||
Corporate income tax | 20% | |||
State Administration of Taxation Announced [Member] | ||||
Taxation [Line Items] | ||||
Taxable income (in Yuan Renminbi) | ¥ 3,000,000 | |||
Taxable income amount (in Yuan Renminbi) | ¥ 1,000,000 | |||
State Administration of Taxation Announced [Member] | Maximum [Member] | ||||
Taxation [Line Items] | ||||
Corporate income tax rate | 12.50% | |||
State Administration of Taxation Announced [Member] | Minimum [Member] | ||||
Taxation [Line Items] | ||||
Corporate income tax rate | 20% | |||
State Administration of Taxation Further Announced [Member] | ||||
Taxation [Line Items] | ||||
Taxable income (in Yuan Renminbi) | ¥ 1,000,000 | |||
Small and Low-Profit Enterprises [Member] | ||||
Taxation [Line Items] | ||||
Corporate income tax rate | 25% | 20% | ||
People’s Republic of China, [Member] | ||||
Taxation [Line Items] | ||||
Income tax percentage | 25% | |||
Hong Kong [Member] | ||||
Taxation [Line Items] | ||||
Profits tax percentage | 16.50% |
Taxation (Details) - Schedule o
Taxation (Details) - Schedule of Income Tax Provision | 12 Months Ended | |||
Dec. 31, 2023 CNY (¥) | Dec. 31, 2023 USD ($) | Dec. 31, 2022 CNY (¥) | Dec. 31, 2021 CNY (¥) | |
Schedule of Income Tax Provision [Abstract] | ||||
Current income tax expenses | ¥ 99,155 | $ 14,000 | ¥ 2,465,462 | ¥ 839,107 |
Deferred income tax expense (benefit) | (2,907,145) | (410,457) | 116,755 | 864,072 |
Total income tax expenses (benefit) | ¥ (2,807,990) | $ (396,458) | ¥ 2,582,217 | ¥ 1,703,179 |
Taxation (Details) - Schedule_2
Taxation (Details) - Schedule of Income / (Loss) Before Provision for Income Taxes | 12 Months Ended | |||
Dec. 31, 2023 CNY (¥) | Dec. 31, 2023 USD ($) | Dec. 31, 2022 CNY (¥) | Dec. 31, 2021 CNY (¥) | |
Schedule of Income / (Loss) Before Provision for Income Taxes [Abstract] | ||||
PRC | ¥ (76,778,965) | $ (10,840,353) | ¥ 8,630,868 | ¥ 12,016,517 |
Foreign | (6,304,369) | (890,109) | (4,670,754) | (89,670) |
Total Income/(loss) before Income Taxes | ¥ (83,083,334) | $ (11,730,462) | ¥ 3,960,114 | ¥ 11,926,847 |
Taxation (Details) - Schedule_3
Taxation (Details) - Schedule of Reconciliation Between the Provision for Income Taxes | 12 Months Ended | ||
Dec. 31, 2023 | Dec. 31, 2022 | Dec. 31, 2021 | |
Schedule of Reconciliation Between the Provision for Income Taxes [Abstract] | |||
PRC statutory income tax rate | (25.00%) | 25% | 25% |
Impact of different tax rates in other jurisdictions | 1.10% | 22.30% | 0% |
Effect of preferential tax rate | 7.90% | 53.30% | (6.40%) |
Non-deductible (Non-taxable) items | 0.10% | 0.90% | 0.90% |
Effect of additional R&D deduction | 0% | (9.00%) | 0% |
Tax effect on deferred offering costs | (0.60%) | (32.30%) | (1.90%) |
Change in valuation allowance | 13.10% | 5% | (3.30%) |
Effective tax rate | (3.40%) | 65.20% | 14.30% |
Taxation (Details) - Schedule_4
Taxation (Details) - Schedule of Deferred Tax Assets and Deferred Tax Liability | Dec. 31, 2023 CNY (¥) | Dec. 31, 2023 USD ($) | Dec. 31, 2022 CNY (¥) | Dec. 31, 2022 USD ($) | Dec. 31, 2021 CNY (¥) |
Deferred tax assets: | |||||
Net operating loss carried forward | ¥ 10,843,551 | $ 1,530,991 | ¥ 1,750,257 | ||
Bad debt provision | 3,801,660 | 536,753 | 96,568 | ||
Impairment charges | 963,398 | 136,021 | |||
Lease liability | 818,974 | 115,630 | |||
Less: Valuation allowance | (12,738,069) | (1,798,476) | (1,825,262) | $ (257,707) | ¥ (1,625,548) |
Deferred tax assets, net of valuation allowance | 3,689,514 | 520,919 | 21,563 | ||
Deferred tax liabilities: | |||||
Right of use assets | (760,806) | (107,418) | |||
Total deferred tax liabilities | (760,806) | (107,418) | |||
Total deferred tax assets, net | ¥ 2,928,708 | $ 413,501 | ¥ 21,563 |
Taxation (Details) - Schedule_5
Taxation (Details) - Schedule of Valuation Allowance | 12 Months Ended | ||
Dec. 31, 2023 CNY (¥) | Dec. 31, 2023 USD ($) | Dec. 31, 2022 CNY (¥) | |
Schedule of Valuation Allowance [Abstract] | |||
Beginning balance | ¥ 1,825,262 | $ 257,707 | ¥ 1,625,548 |
Addition | 10,907,213 | 1,539,980 | 197,431 |
Foreign exchange impact | 5,594 | 789 | 2,283 |
Ending balance | ¥ 12,738,069 | $ 1,798,476 | ¥ 1,825,262 |
Taxation (Details) - Schedule_6
Taxation (Details) - Schedule of Net Operating Loss Carry Forward | Dec. 31, 2023 CNY (¥) |
Schedule of Net Operating Loss Carry Forward [Line Items] | |
Net Operating Loss Carry Forwards | ¥ 66,331,529 |
2024 [Member] | |
Schedule of Net Operating Loss Carry Forward [Line Items] | |
Net Operating Loss Carry Forwards | 2,206,569 |
2025 [Member] | |
Schedule of Net Operating Loss Carry Forward [Line Items] | |
Net Operating Loss Carry Forwards | 3,196,752 |
2026 [Member] | |
Schedule of Net Operating Loss Carry Forward [Line Items] | |
Net Operating Loss Carry Forwards | 395,107 |
2027 [Member] | |
Schedule of Net Operating Loss Carry Forward [Line Items] | |
Net Operating Loss Carry Forwards | 12,468,752 |
2028 [Member] | |
Schedule of Net Operating Loss Carry Forward [Line Items] | |
Net Operating Loss Carry Forwards | ¥ 48,064,350 |
Taxation (Details) - Schedule_7
Taxation (Details) - Schedule of Taxes Payable | 12 Months Ended | |||
Dec. 31, 2023 CNY (¥) | Dec. 31, 2023 USD ($) | Dec. 31, 2022 CNY (¥) | Dec. 31, 2023 USD ($) | |
Schedule of Taxes Payable [Abstract] | ||||
Income tax payable | ¥ 163,527 | ¥ 1,768,285 | $ 23,088 | |
VAT and other taxes payable | 349,670 | 362,148 | $ 49,370 | |
Total taxes payable | ¥ 513,197 | $ 72,458 | ¥ 2,130,433 |
Equity (Details)
Equity (Details) | 12 Months Ended | |||||||||||||||||||||||
Apr. 30, 2023 USD ($) $ / shares shares | Apr. 25, 2023 CNY (¥) shares | Apr. 25, 2023 USD ($) $ / shares shares | Mar. 16, 2023 $ / shares shares | Feb. 16, 2023 $ / shares shares | Sep. 09, 2022 USD ($) shares | Sep. 07, 2022 USD ($) shares | Dec. 31, 2023 CNY (¥) shares | Dec. 31, 2022 CNY (¥) shares | Dec. 31, 2021 | Dec. 31, 2023 USD ($) $ / shares shares | Sep. 30, 2023 CNY (¥) | Sep. 30, 2023 USD ($) | Dec. 31, 2022 USD ($) $ / shares shares | Sep. 30, 2022 CNY (¥) | Sep. 30, 2022 USD ($) | Sep. 06, 2022 shares | Jun. 10, 2022 shares | Apr. 30, 2022 CNY (¥) | Apr. 30, 2022 USD ($) | Mar. 31, 2022 CNY (¥) | Mar. 31, 2022 USD ($) | Feb. 28, 2022 CNY (¥) | Feb. 28, 2022 USD ($) | |
Equity [Line Items] | ||||||||||||||||||||||||
Consideration amount (in Dollars) | $ | ||||||||||||||||||||||||
Reverse stock split | 1 for 1.25 | |||||||||||||||||||||||
Share issuance | 1,250,000 | 6,409,600 | 6,409,600 | |||||||||||||||||||||
Ordinary shares prior to reverse stock | 6,409,600 | 6,409,600 | ||||||||||||||||||||||
Stocks divided | 20,000,000 | |||||||||||||||||||||||
Forward stock split | 1 to 1.25 | |||||||||||||||||||||||
Net proceeds (in Dollars) | $ | $ 4,860,000 | |||||||||||||||||||||||
Issuance of price per share (in Dollars per share) | $ / shares | $ 4 | |||||||||||||||||||||||
Partial exercise of over-allotment option (in Dollars) | $ | $ 102,223 | |||||||||||||||||||||||
Shares issued | 2,000,000 | 2,000,000 | ||||||||||||||||||||||
Warrant issued | 37,500 | 37,500 | ||||||||||||||||||||||
Warrant exercise price per share (in Dollars per share) | $ / shares | $ 4 | |||||||||||||||||||||||
Warrant evaluated | ¥ 360,874 | $ 50,591 | ||||||||||||||||||||||
Capital injection | ¥ 2,450,000 | $ 345,913 | ¥ 200,000 | $ 28,238 | ¥ 24,680,000 | $ 3,484,547 | ¥ 24,680,000 | $ 3,484,547 | ||||||||||||||||
Total dividend declared | ¥ 6,839,000 | $ 965,592 | ¥ 18,770,000 | $ 2,650,119 | ¥ 18,770,000 | $ 2,650,119 | ||||||||||||||||||
Dividends payable, current | 11,931,000 | 1,684,527 | ¥ 6,839,000 | |||||||||||||||||||||
Individual shareholders (in Yuan Renminbi) | ¥ | ¥ 4,993,500 | |||||||||||||||||||||||
Dividend outstanding | ¥ 6,937,500 | ¥ 6,937,500 | 979,499 | $ 979,499 | ||||||||||||||||||||
After-tax net income percentage | (3.40%) | 65.20% | 14.30% | |||||||||||||||||||||
Percentage of reserve | 50% | |||||||||||||||||||||||
Net assets | ¥ 5,800,000 | $ 800,000 | ||||||||||||||||||||||
Jayud Global Logistics Ltd [Member] | ||||||||||||||||||||||||
Equity [Line Items] | ||||||||||||||||||||||||
After-tax net income percentage | 10% | |||||||||||||||||||||||
Minimum [Member] | ||||||||||||||||||||||||
Equity [Line Items] | ||||||||||||||||||||||||
Share authorized | 400,000,000 | 400,000,000 | ||||||||||||||||||||||
Minimum [Member] | Jayud Global Logistics Ltd [Member] | ||||||||||||||||||||||||
Equity [Line Items] | ||||||||||||||||||||||||
Ordinary shares, par value (in Dollars per share) | $ / shares | $ 0.0001 | |||||||||||||||||||||||
Maximum [Member] | ||||||||||||||||||||||||
Equity [Line Items] | ||||||||||||||||||||||||
Share issuance | 13,590,400 | |||||||||||||||||||||||
Ordinary shares prior to reverse stock | 13,590,400 | |||||||||||||||||||||||
Maximum [Member] | Jayud Global Logistics Ltd [Member] | ||||||||||||||||||||||||
Equity [Line Items] | ||||||||||||||||||||||||
Ordinary shares, par value (in Dollars per share) | $ / shares | $ 0.000125 | |||||||||||||||||||||||
Class A Ordinary Shares [Member] | ||||||||||||||||||||||||
Equity [Line Items] | ||||||||||||||||||||||||
Ordinary shares | 10,872,320 | 2,000,000 | 480,000,000 | 480,000,000 | 9,420,000 | |||||||||||||||||||
Ordinary shares, par value (in Dollars per share) | $ / shares | $ 0.0001 | $ 0.0001 | ||||||||||||||||||||||
Issuance ordinary shares | 1,370,400 | |||||||||||||||||||||||
Granted shares | 800,000 | |||||||||||||||||||||||
Consideration amount (in Dollars) | $ | $ 5,000,000 | |||||||||||||||||||||||
Share issuance | 14,942,623 | 13,590,400 | 14,942,623 | 13,590,400 | ||||||||||||||||||||
Ordinary shares prior to reverse stock | 14,942,623 | 13,590,400 | 14,942,623 | 13,590,400 | ||||||||||||||||||||
Share outstanding | 10,872,320 | |||||||||||||||||||||||
Share authorized | 480,000,000 | 480,000,000 | 480,000,000 | 480,000,000 | ||||||||||||||||||||
Stocks divided | 480,000,000 | 384,000,000 | ||||||||||||||||||||||
Class A Ordinary Shares [Member] | Jayud Global Logistics Ltd [Member] | ||||||||||||||||||||||||
Equity [Line Items] | ||||||||||||||||||||||||
Ordinary shares, par value (in Dollars per share) | $ / shares | $ 0.0001 | |||||||||||||||||||||||
Share issuance | 13,590,400 | |||||||||||||||||||||||
Ordinary shares prior to reverse stock | 13,590,400 | |||||||||||||||||||||||
Class A Ordinary Shares [Member] | Minimum [Member] | ||||||||||||||||||||||||
Equity [Line Items] | ||||||||||||||||||||||||
Share issuance | 10,872,320 | |||||||||||||||||||||||
Ordinary shares prior to reverse stock | 10,872,320 | |||||||||||||||||||||||
Class B Ordinary Shares [Member] | ||||||||||||||||||||||||
Equity [Line Items] | ||||||||||||||||||||||||
Ordinary shares | 5,127,680 | 20,000,000 | 20,000,000 | 6,409,600 | ||||||||||||||||||||
Ordinary shares, par value (in Dollars per share) | $ / shares | $ 0.0001 | $ 0.0001 | ||||||||||||||||||||||
Share issuance | 6,409,600 | 6,409,600 | 6,409,600 | 6,409,600 | ||||||||||||||||||||
Ordinary shares prior to reverse stock | 6,409,600 | 6,409,600 | 6,409,600 | 6,409,600 | ||||||||||||||||||||
Share outstanding | 5,127,680 | |||||||||||||||||||||||
Share authorized | 20,000,000 | 20,000,000 | 20,000,000 | 20,000,000 | ||||||||||||||||||||
Stocks divided | 16,000,000 | |||||||||||||||||||||||
Class B Ordinary Shares [Member] | Jayud Global Logistics Ltd [Member] | ||||||||||||||||||||||||
Equity [Line Items] | ||||||||||||||||||||||||
Ordinary shares, par value (in Dollars per share) | $ / shares | $ 0.0001 | $ 0.0001 | ||||||||||||||||||||||
Share issuance | 6,409,600 | |||||||||||||||||||||||
Ordinary shares prior to reverse stock | 6,409,600 | |||||||||||||||||||||||
Class B Ordinary Shares [Member] | Minimum [Member] | ||||||||||||||||||||||||
Equity [Line Items] | ||||||||||||||||||||||||
Share issuance | 5,127,680 | |||||||||||||||||||||||
Ordinary shares prior to reverse stock | 5,127,680 | |||||||||||||||||||||||
Class B Ordinary Shares [Member] | Maximum [Member] | ||||||||||||||||||||||||
Equity [Line Items] | ||||||||||||||||||||||||
Share issuance | 6,409,600 | |||||||||||||||||||||||
Ordinary shares prior to reverse stock | 6,409,600 | |||||||||||||||||||||||
Common Stock [Member] | Jayud Global Logistics Ltd [Member] | ||||||||||||||||||||||||
Equity [Line Items] | ||||||||||||||||||||||||
Ordinary shares, par value (in Dollars per share) | $ / shares | $ 0.000125 | |||||||||||||||||||||||
Common Stock [Member] | Maximum [Member] | ||||||||||||||||||||||||
Equity [Line Items] | ||||||||||||||||||||||||
Share authorized | 500,000,000 | 500,000,000 |
Related Party Balances and Tr_3
Related Party Balances and Transactions (Details) | 1 Months Ended | 12 Months Ended | |||||||
Nov. 15, 2023 CNY (¥) | Nov. 15, 2023 USD ($) | May 31, 2023 | Dec. 31, 2023 CNY (¥) | Dec. 31, 2023 USD ($) | Dec. 31, 2022 CNY (¥) | Dec. 31, 2021 CNY (¥) | Dec. 31, 2023 USD ($) | Nov. 15, 2023 USD ($) | |
Related Party Balances and Transactions [Line Items] | |||||||||
Borrowed a short-term loan | ¥ 25,603,498 | ¥ 14,800,000 | $ 3,614,935 | ||||||
Interest expense | 995,162 | $ 140,506 | 795,144 | ¥ 1,046,305 | |||||
Proceed of short term debt, from related party | 31,805,201 | 4,490,548 | 18,000,000 | 18,000,000 | |||||
Balance due to foreign exchange | 25,603,498 | 14,800,000 | 3,614,935 | ||||||
Rent payable | $ | 1,097,801 | ||||||||
Xi’an Renrui Hydroacoustic Technology Engineering Co., Ltd (“Renrui”) [Member] | |||||||||
Related Party Balances and Transactions [Line Items] | |||||||||
Borrowed a short-term loan | ¥ 3,000,000 | $ 423,567 | |||||||
Interest borrowed a short-term loan | $ | $ 30,000 | ||||||||
Interest expense | 24,643 | 3,479 | |||||||
Cargo Link Logistics HK Company Limited [Member] | |||||||||
Related Party Balances and Transactions [Line Items] | |||||||||
Proceed of short term debt, from related party | 153,101 | 364,588 | |||||||
Balance due to foreign exchange | 12,185 | 1,720 | |||||||
Li Bin and Renrui [Member] | |||||||||
Related Party Balances and Transactions [Line Items] | |||||||||
Borrowed a short-term loan | 3,000,000 | $ 423,567 | |||||||
Interest borrowed a short-term loan | 30,000 | ||||||||
Li Bin [Member] | |||||||||
Related Party Balances and Transactions [Line Items] | |||||||||
Principal amount repaid | ¥ 3,000,000 | $ 423,567 | |||||||
Shenzhen Quanjieyuan Enterprise Management Consulting Partnership [Member] | |||||||||
Related Party Balances and Transactions [Line Items] | |||||||||
Rent payable | 7,775,393 | ||||||||
Winpass Logistics (HK) Co., Limited [Member] | |||||||||
Related Party Balances and Transactions [Line Items] | |||||||||
Paid amount | 1,784,309 | 251,925 | 4,608,483 | 16,467,687 | |||||
Collected amount | 3,281,240 | $ 463,275 | 460,687 | ¥ 18,601,890 | |||||
Outstanding balance | ¥ 1,371,882 | ||||||||
Shenzhen Zhongshun Jiean Estate Management Co., Ltd (“Zhongshun”) [Member] | |||||||||
Related Party Balances and Transactions [Line Items] | |||||||||
Lease agreement term | 7 months | ||||||||
Geng Xiaogang [Member] | |||||||||
Related Party Balances and Transactions [Line Items] | |||||||||
Borrowed a short-term loan | ¥ 823,265 | $ 116,236 | |||||||
Short-term loan interest rate | 6% | 6% | |||||||
Minimum [Member] | |||||||||
Related Party Balances and Transactions [Line Items] | |||||||||
Loan term | 20 years | 20 years | |||||||
Maximum [Member] | |||||||||
Related Party Balances and Transactions [Line Items] | |||||||||
Loan term | 55 years | 55 years |
Related Party Balances and Tr_4
Related Party Balances and Transactions (Details) - Schedule of Accounts Receivable from a Related Party | 12 Months Ended | ||||
Dec. 31, 2023 CNY (¥) | Dec. 31, 2023 USD ($) | Dec. 31, 2022 CNY (¥) | Dec. 31, 2021 CNY (¥) | ||
Accounts Receivable From Related Party [Member] | |||||
Related Party Transaction [Line Items] | |||||
Related party amount | ¥ 1,676,016 | ||||
Accounts Receivable From Related Party [Member] | Shenzhen Feijia Supply Chain Management Co., Ltd [Member] | |||||
Related Party Transaction [Line Items] | |||||
Relationship | 43% shares owned by JYD YCKJ’s 48% interest minor shareholder | 43% shares owned by JYD YCKJ’s 48% interest minor shareholder | |||
Nature | Logistic services | Logistic services | |||
Related party amount | 1,676,016 | ||||
Other Receivable from Related Parties [Member] | |||||
Related Party Transaction [Line Items] | |||||
Related party amount | ¥ 164,858 | $ 23,276 | |||
Other Receivable from Related Parties [Member] | Winpass Logistics (HK) Co., Limited (“Winpass”) One [Member] | |||||
Related Party Transaction [Line Items] | |||||
Relationship | 100% controlled by Xiaohua Jia | 100% controlled by Xiaohua Jia | |||
Nature | Net collection on behalf of the Group | Net collection on behalf of the Group | |||
Related party amount | ¥ 125,049 | $ 17,656 | |||
Other Receivable from Related Parties [Member] | Shenzhen Zhongshun Jiean Estate Management Co., Ltd [Member] | |||||
Related Party Transaction [Line Items] | |||||
Relationship | 90% owned by Bao BingBing, management of JYD NJWL | 90% owned by Bao BingBing, management of JYD NJWL | |||
Nature | Rent deposit | Rent deposit | |||
Related party amount | ¥ 39,809 | $ 5,620 | |||
Accounts Payable to Related Parties [Member] | |||||
Related Party Transaction [Line Items] | |||||
Related party amount | ¥ 6,666,458 | $ 941,231 | 7,425,184 | ||
Accounts Payable to Related Parties [Member] | Winpass Logistics (HK) Co., Limited [Member] | |||||
Related Party Transaction [Line Items] | |||||
Relationship | 100% controlled by Xiaohua Jia | 100% controlled by Xiaohua Jia | |||
Nature | Logistic services | Logistic services | |||
Related party amount | ¥ 418,266 | $ 59,055 | 240,175 | ||
Accounts Payable to Related Parties [Member] | Cargo Link Logistics HK Company Limited [Member] | |||||
Related Party Transaction [Line Items] | |||||
Relationship | Owns 33% of shares of Sky Pacific Logistics HK Company Limited | Owns 33% of shares of Sky Pacific Logistics HK Company Limited | |||
Nature | Logistic services | Logistic services | |||
Related party amount | ¥ 6,248,192 | $ 882,176 | 7,185,009 | ||
Loan Payable to Related Party [Member] | |||||
Related Party Transaction [Line Items] | |||||
Related party amount | ¥ 3,000,000 | $ 423,567 | |||
Loan Payable to Related Party [Member] | Xi’an Renrui Hydroacoustic Technology Engineering Co., Ltd (“Renrui”) [Member] | |||||
Related Party Transaction [Line Items] | |||||
Relationship | [1] | 40% owned by Bin Li | 40% owned by Bin Li | ||
Nature | Loan | Loan | |||
Related party amount | ¥ 3,000,000 | $ 423,567 | |||
Others Payable to Related Parties [Member] | |||||
Related Party Transaction [Line Items] | |||||
Related party amount | ¥ 8,516,645 | $ 1,202,457 | 2,477,658 | ||
Others Payable to Related Parties [Member] | Winpass Logistics (HK) Co., Limited [Member] | |||||
Related Party Transaction [Line Items] | |||||
Relationship | 100% controlled by Xiaohua Jia | 100% controlled by Xiaohua Jia | |||
Nature | Net payments on behalf of the Group | Net payments on behalf of the Group | |||
Related party amount | 1,371,882 | ||||
Others Payable to Related Parties [Member] | Cargo Link Logistics HK Company Limited One [Member] | |||||
Related Party Transaction [Line Items] | |||||
Relationship | Owns 33% of shares of Sky Pacific Logistics HK Company Limited | Owns 33% of shares of Sky Pacific Logistics HK Company Limited | |||
Nature | [2] | Net payments on behalf of the Group (a) | Net payments on behalf of the Group (a) | ||
Related party amount | ¥ 686,609 | $ 96,941 | 663,976 | ||
Others Payable to Related Parties [Member] | Bin Li [Member] | |||||
Related Party Transaction [Line Items] | |||||
Relationship | Management of JYD SXGYL | Management of JYD SXGYL | |||
Nature | [1] | Interest Payable (b) | Interest Payable (b) | ||
Related party amount | ¥ 30,000 | $ 4,236 | 441,800 | ||
Others Payable to Related Parties [Member] | Xi’an Renrui Hydroacoustic Technology Engineering Co., Ltd (“Renrui”) One [Member] | |||||
Related Party Transaction [Line Items] | |||||
Relationship | 40% owned by Bin Li | 40% owned by Bin Li | |||
Nature | [1] | Interest Payable (b) | Interest Payable (b) | ||
Related party amount | ¥ 24,643 | $ 3,479 | |||
Others Payable to Related Parties [Member] | Shenzhen Zhongshun Jiean Estate Management Co., Ltd (“Zhongshun”) [Member] | |||||
Related Party Transaction [Line Items] | |||||
Relationship | 90% owned by BingBing Bao, management of JYD NJWL | 90% owned by BingBing Bao, management of JYD NJWL | |||
Nature | [3] | Rent payable (c) | Rent payable (c) | ||
Related party amount | ¥ 7,775,393 | $ 1,097,801 | |||
Others Payable to Shareholders [Member] | |||||
Related Party Transaction [Line Items] | |||||
Related party amount | ¥ 37,029 | $ 5,228 | 6,980,836 | ||
Others Payable to Shareholders [Member] | Xiaogang Geng [Member] | |||||
Related Party Transaction [Line Items] | |||||
Relationship | Shareholder and CEO | Shareholder and CEO | |||
Nature | |||||
Related party amount | ¥ 16,465 | $ 2,325 | |||
Others Payable to Shareholders [Member] | Xiaogang Geng [Member] | |||||
Related Party Transaction [Line Items] | |||||
Relationship | Shareholder and CEO | Shareholder and CEO | |||
Nature | Dividend | Dividend | |||
Related party amount | 6,225,000 | ||||
Others Payable to Shareholders [Member] | Xiaohua Jia [Member] | |||||
Related Party Transaction [Line Items] | |||||
Relationship | Shareholder | Shareholder | |||
Nature | Dividend | Dividend | |||
Related party amount | 712,500 | ||||
Others Payable to Shareholders [Member] | Qing Wang [Member] | |||||
Related Party Transaction [Line Items] | |||||
Relationship | Shareholder | Shareholder | |||
Nature | Business Reimbursement Payable | Business Reimbursement Payable | |||
Related party amount | ¥ 20,564 | $ 2,903 | 43,336 | ||
Loans Payable to Shareholders [Member] | |||||
Related Party Transaction [Line Items] | |||||
Related party amount | ¥ 823,265 | $ 116,236 | |||
Loans Payable to Shareholders [Member] | Xiaogang Geng [Member] | |||||
Related Party Transaction [Line Items] | |||||
Relationship | Shareholder and CEO | Shareholder and CEO | |||
Nature | [2] | Loan (a) | Loan (a) | ||
Related party amount | ¥ 823,265 | $ 116,236 | |||
Other payable – shareholders - non-current [Member] | |||||
Related Party Transaction [Line Items] | |||||
Related party amount | ¥ 6,937,500 | $ 979,499 | |||
Other payable – shareholders - non-current [Member] | Xiaohua Jia [Member] | |||||
Related Party Transaction [Line Items] | |||||
Relationship | Shareholder | Shareholder | |||
Nature | Dividend | Dividend | |||
Related party amount | ¥ 712,500 | $ 100,597 | |||
Other payable – shareholders - non-current [Member] | Xiaogang Geng [Member] | |||||
Related Party Transaction [Line Items] | |||||
Relationship | Shareholder and CEO | Shareholder and CEO | |||
Nature | Dividend | Dividend | |||
Related party amount | ¥ 6,225,000 | $ 878,902 | |||
Shareholder Transaction [Member] | Xiaogang Geng [Member] | |||||
Related Party Transaction [Line Items] | |||||
Nature | Interest expenses of a loan | Interest expenses of a loan | |||
Related party amount | ¥ 16,465 | $ 2,325 | |||
Shareholder Transaction [Member] | Dun Zhao (Director and CMO) [Member] | |||||
Related Party Transaction [Line Items] | |||||
Nature | Interest expenses of a loan | Interest expenses of a loan | |||
Related party amount | 20,000 | 40,000 | |||
Material Related Party Transactions [Member] | Shenzhen Feijia Supply Chain Management Co., Ltd [Member] | |||||
Related Party Transaction [Line Items] | |||||
Relationship | 43% shares owned by JYD YCKJ’s 48% interest minor shareholder | 43% shares owned by JYD YCKJ’s 48% interest minor shareholder | |||
Nature | Provided logistic services | Provided logistic services | |||
Related party amount | ¥ 196,575 | $ 27,754 | 2,078,746 | ||
Material Related Party Transactions [Member] | Shenzhen Zhongshun Jiean Estate Management Co., Ltd [Member] | |||||
Related Party Transaction [Line Items] | |||||
Relationship | 90% owned by Bao BingBing, management of JYD NJWL | 90% owned by Bao BingBing, management of JYD NJWL | |||
Nature | Rent of offices and warehouses | Rent of offices and warehouses | |||
Related party amount | ¥ 14,469,603 | $ 2,042,950 | |||
Material Related Party Transactions [Member] | Winpass Logistics (HK) Co., Limited [Member] | |||||
Related Party Transaction [Line Items] | |||||
Relationship | 100% controlled by Xiaohua Jia | 100% controlled by Xiaohua Jia | |||
Nature | Purchase of logistic services | Purchase of logistic services | |||
Related party amount | ¥ 549,714 | $ 77,614 | 1,386,915 | 4,514,552 | |
Material Related Party Transactions [Member] | Cargo Link Logistics HK Company Limited [Member] | |||||
Related Party Transaction [Line Items] | |||||
Relationship | Owns 33% of shares of Sky Pacific Logistics HK Company Limited | Owns 33% of shares of Sky Pacific Logistics HK Company Limited | |||
Nature | Purchase of logistic services | Purchase of logistic services | |||
Related party amount | ¥ 62,063,334 | $ 8,762,666 | 121,455,797 | 185,858,692 | |
Material Related Party Transactions [Member] | Cargo Link Logistics HK Company Limited One [Member] | |||||
Related Party Transaction [Line Items] | |||||
Relationship | Owns 33% of shares of Sky Pacific Logistics HK Company Limited | Owns 33% of shares of Sky Pacific Logistics HK Company Limited | |||
Nature | Provided logistic services | Provided logistic services | |||
Related party amount | 462,740 | 14,141,548 | |||
Material Related Party Transactions [Member] | Bin Li [Member] | |||||
Related Party Transaction [Line Items] | |||||
Relationship | Supervisor of JYD SXGYL | Supervisor of JYD SXGYL | |||
Nature | Interest expenses of a loan | Interest expenses of a loan | |||
Related party amount | ¥ 30,000 | $ 4,236 | |||
Material Related Party Transactions [Member] | Xi’an Renrui Hydroacoustic Technology Engineering Co., Ltd (“Renrui”) One [Member] | |||||
Related Party Transaction [Line Items] | |||||
Relationship | 40% owned by Bin Li | 40% owned by Bin Li | |||
Nature | Interest expenses of a loan | Interest expenses of a loan | |||
Related party amount | ¥ 24,643 | $ 3,479 | |||
Material Related Party Transactions [Member] | Cargo LINK Logistics (SHENZHEN) Company Limited [Member] | |||||
Related Party Transaction [Line Items] | |||||
Relationship | Owns 33% of shares of Sky Pacific Logistics HK Company Limited | Owns 33% of shares of Sky Pacific Logistics HK Company Limited | |||
Nature | Purchase of logistic services | Purchase of logistic services | |||
Related party amount | 2,672,803 | ||||
Material Related Party Transactions [Member] | Shenzhen Feijia Supply Chain Management Co., Ltd One [Member] | |||||
Related Party Transaction [Line Items] | |||||
Relationship | 43% shares owned by JYD YCKJ’s 48% interest minor shareholder | 43% shares owned by JYD YCKJ’s 48% interest minor shareholder | |||
Nature | Purchase of equipment | Purchase of equipment | |||
Related party amount | ¥ 108,407 | $ 15,306 | 441,800 | ||
Material Related Party Transactions [Member] | Shenzhen Feijia Supply Chain Management Co., Ltd Two [Member] | |||||
Related Party Transaction [Line Items] | |||||
Relationship | 43% shares owned by JYD YCKJ’s 48% interest minor shareholder | 43% shares owned by JYD YCKJ’s 48% interest minor shareholder | |||
Nature | Penalty for early termination of lease | Penalty for early termination of lease | |||
Related party amount | ¥ 835,527 | $ 117,967 | |||
Material Related Party Transactions [Member] | Xi’an Renrui Hydroacoustic Technology Engineering Co., Ltd [Member] | |||||
Related Party Transaction [Line Items] | |||||
Relationship | 40% owned by Bin Li | 40% owned by Bin Li | |||
Nature | Provided logistic services | Provided logistic services | |||
Related party amount | ¥ 4,749 | $ 670 | |||
Material Related Party Transactions [Member] | Minfang Cheng [Member] | |||||
Related Party Transaction [Line Items] | |||||
Relationship | Legal representative of JYD XYX | Legal representative of JYD XYX | |||
Nature | Interest expenses of a loan | Interest expenses of a loan | |||
Related party amount | ¥ 6,000 | ¥ 12,000 | |||
[1]On November 15, 2023, the Group borrowed short-term loans from Li Bin and Renrui each of RMB3,000,000 (US$423,567), with loan term of 20 days and 55 days, respectively. Interest was RMB30,000 for each loan. The principal of RMB3,000,000 ( USD423,567 |
Concentration (Details) - Sched
Concentration (Details) - Schedule of Total Accounts Receivable | 12 Months Ended | |||||||
Dec. 31, 2023 CNY (¥) | Dec. 31, 2023 USD ($) | Dec. 31, 2022 CNY (¥) | Dec. 31, 2021 CNY (¥) | |||||
Customer Concentration Risk [Member] | Customer A [Member] | Accounts Receivable [Member] | ||||||||
Concentration Risk [Line Items] | ||||||||
Amount | ¥ 7,025,390 | $ 991,908 | ¥ 4,393,790 | |||||
Concentration risk percentage | 17% | 17% | 13% | |||||
Customer Concentration Risk [Member] | Customer B [Member] | Accounts Receivable [Member] | ||||||||
Concentration Risk [Line Items] | ||||||||
Amount | [1] | [1] | ¥ 4,376,768 | |||||
Concentration risk percentage | [1] | [1] | 13% | |||||
Customer Concentration Risk [Member] | Customer B [Member] | Revenue Benchmark [Member] | ||||||||
Concentration Risk [Line Items] | ||||||||
Amount | [1] | [1] | ¥ 73,423,394 | ¥ 71,419,145 | ||||
Concentration risk percentage | [1] | [1] | 11.30% | 13.10% | ||||
Customer Concentration Risk [Member] | Customer C [Member] | Revenue Benchmark [Member] | ||||||||
Concentration Risk [Line Items] | ||||||||
Amount | [1] | [1] | ¥ 117,415,978 | [1] | ||||
Concentration risk percentage | [1] | [1] | 18% | [1] | ||||
Customer Concentration Risk [Member] | Customer D [Member] | Revenue Benchmark [Member] | ||||||||
Concentration Risk [Line Items] | ||||||||
Amount | ¥ 61,254,669 | $ 8,648,491 | [1] | [1] | ||||
Concentration risk percentage | 12.30% | 12.30% | [1] | [1] | ||||
Customer Concentration Risk [Member] | Customer E [Member] | Revenue Benchmark [Member] | ||||||||
Concentration Risk [Line Items] | ||||||||
Amount | ¥ 60,840,708 | $ 8,590,044 | [1] | [1] | ||||
Concentration risk percentage | 12.20% | 12.20% | [1] | [1] | ||||
Supplier Concentration Risk [Member] | Accounts Payable [Member] | Cargo Link Logistics HK Company Limited [Member] | ||||||||
Concentration Risk [Line Items] | ||||||||
Amount | ¥ 6,248,193 | $ 870,270 | ¥ 7,185,007 | |||||
Concentration risk percentage | 13.50% | 13.50% | 28.10% | |||||
Supplier Concentration Risk [Member] | Accounts Payable [Member] | Supplier A [Member] | ||||||||
Concentration Risk [Line Items] | ||||||||
Amount | [1] | [1] | ¥ 3,261,998 | |||||
Concentration risk percentage | [1] | [1] | 12.80% | |||||
Supplier Concentration Risk [Member] | Accounts Payable [Member] | Supplier B [Member] | ||||||||
Concentration Risk [Line Items] | ||||||||
Amount | ¥ 9,302,019 | $ 1,313,344 | [1] | |||||
Concentration risk percentage | 20% | 20% | [1] | |||||
Supplier Concentration Risk [Member] | Accounts Payable [Member] | Supplier C [Member] | ||||||||
Concentration Risk [Line Items] | ||||||||
Amount | ¥ 6,801,207 | $ 960,256 | [1] | |||||
Concentration risk percentage | 14.60% | 14.60% | [1] | |||||
Supplier Concentration Risk [Member] | Total Purchase [Member] | Cargo Link Logistics HK Company Limited [Member] | ||||||||
Concentration Risk [Line Items] | ||||||||
Amount | ¥ 62,063,334 | $ 8,762,666 | ¥ 121,455,797 | ¥ 185,858,692 | ||||
Concentration risk percentage | 12.10% | 12.10% | 19.80% | 36.40% | ||||
Supplier Concentration Risk [Member] | Total Purchase [Member] | Supplier D [Member] | ||||||||
Concentration Risk [Line Items] | ||||||||
Amount | [1] | [1] | ¥ 122,901,742 | [1] | ||||
Concentration risk percentage | [1] | [1] | 20% | [1] | ||||
Supplier Concentration Risk [Member] | Total Purchase [Member] | Supplier E [Member] | ||||||||
Concentration Risk [Line Items] | ||||||||
Amount | ¥ 60,165,266 | $ 8,494,679 | [1] | [1] | ||||
Concentration risk percentage | 11.70% | 11.70% | [1] | [1] | ||||
Supplier Concentration Risk [Member] | Total Purchase [Member] | Supplier F [Member] | ||||||||
Concentration Risk [Line Items] | ||||||||
Amount | ¥ 56,607,369 | $ 7,992,343 | [1] | [1] | ||||
Concentration risk percentage | 11% | 11% | [1] | [1] | ||||
[1] Represented the percentage below 10% |
Commitments and Contingencies_2
Commitments and Contingencies (Details) - Schedule of Contractual Obligations | Dec. 31, 2023 CNY (¥) |
Schedule of Contractual Obligations [Line Items] | |
Payments due by period Within one year | ¥ 41,810,169 |
Payments due by period Within 1-2 years | 7,061,443 |
Payments due by period Over 2 years | 1,811,524 |
Total | 50,683,136 |
Operating Lease Payment [Member] | |
Schedule of Contractual Obligations [Line Items] | |
Payments due by period Within one year | 8,806,671 |
Payments due by period Within 1-2 years | 3,405,098 |
Payments due by period Over 2 years | 1,811,524 |
Total | 14,023,293 |
Bank Borrowings [Member] | |
Schedule of Contractual Obligations [Line Items] | |
Payments due by period Within one year | 30,003,498 |
Total | 30,003,498 |
Loan from a Related Party [Member] | |
Schedule of Contractual Obligations [Line Items] | |
Payments due by period Within one year | 3,000,000 |
Total | 3,000,000 |
Loans from a Third Party [Member] | |
Schedule of Contractual Obligations [Line Items] | |
Payments due by period Within 1-2 years | 2,833,080 |
Total | 2,833,080 |
Loan From a Shareholder [Member] | |
Schedule of Contractual Obligations [Line Items] | |
Payments due by period Within 1-2 years | 823,265 |
Total | ¥ 823,265 |
Subsequent Events (Details)
Subsequent Events (Details) | 1 Months Ended | ||||||||
Apr. 30, 2024 | Mar. 31, 2024 CNY (¥) | Mar. 31, 2024 USD ($) | Jan. 31, 2024 | Jan. 01, 2024 CNY (¥) | Jan. 01, 2024 USD ($) | Dec. 31, 2023 | Jul. 05, 2023 | Jun. 27, 2022 | |
Subsequent Events [Line Items] | |||||||||
Entitled borrowing | ¥ 20,500,000 | $ 2,894,376 | |||||||
Annual interest rate | 13.50% | 10.512% | 10.512% | ||||||
Provided loans | ¥ 13,935,734 | $ 1,967,574 | |||||||
Shareholder Loans [Member] | |||||||||
Subsequent Events [Line Items] | |||||||||
Percentage of interest | 6% | 6% | |||||||
Subsequent Event [Member] | |||||||||
Subsequent Events [Line Items] | |||||||||
Entitled borrowing | ¥ 21,000,000 | $ 2,964,971 | |||||||
Annual interest rate | 4.50% | 4.50% | |||||||
Subsequent Event [Member] | Qingdao Oranda Supply Chain Management Co., Ltd. Acquisition [Member] | |||||||||
Subsequent Events [Line Items] | |||||||||
Percentage of acquired | 51% | ||||||||
Subsequent Event [Member] | Shenzhen Jiniu International Logistics Co Ltd [Member] | |||||||||
Subsequent Events [Line Items] | |||||||||
Percentage of acquired | 51% | ||||||||
Forecast [Member] | |||||||||
Subsequent Events [Line Items] | |||||||||
Shareholder acquired percentage | 49% | ||||||||
Forecast [Member] | Shenzhen Jiniu International Logistics Co Ltd [Member] | |||||||||
Subsequent Events [Line Items] | |||||||||
Percentage of acquired | 49% | ||||||||
Forecast [Member] | HK(FASTFLY)International Logistics Co.,Limited [Member] | |||||||||
Subsequent Events [Line Items] | |||||||||
Percentage of acquired | 51% |
Condensed Financial Informati_3
Condensed Financial Information of the Parent Company (Details) - Schedule of Condensed Balance Sheets - JAYUD GLOBAL LOGISTICS LIMITED [Member] | Dec. 31, 2023 CNY (¥) | Dec. 31, 2023 USD ($) | Dec. 31, 2022 CNY (¥) |
Current assets | |||
Cash | ¥ 572,709 | $ 80,860 | |
Due from subsidiaries | 22,494,815 | 3,176,023 | |
Total current assets | 23,067,524 | 3,256,883 | |
Non-current assets | |||
Investments in subsidiaries | 33,325,657 | ||
Total assets | 23,067,524 | 3,256,883 | 33,325,657 |
Non-current liabilities | |||
Due to shareholders | 839,730 | 118,561 | |
Deficit of investment in subsidiaries | 40,283,193 | 5,687,547 | |
Total liabilities | 41,122,923 | 5,806,108 | |
Shareholders’ equity | |||
Additional paid-in capital | 60,423,647 | 8,531,160 | 72,691,813 |
Subscription receivable | |||
Statutory reserves | 502,941 | 71,010 | 4,651,141 |
Retained earnings (Accumulated deficit) | (77,454,208) | (10,935,689) | (9,025,668) |
Accumulated other comprehensive income | (1,541,653) | (217,665) | (181,546) |
Total shareholders’ equity/ (deficit) | (18,055,399) | (2,549,225) | 33,325,657 |
Total liabilities and shareholders’ equity/ (deficit) | 23,067,524 | 3,256,883 | 33,325,657 |
Class A Ordinary Shares | |||
Shareholders’ equity | |||
Ordinary shares value | 9,787 | 1,382 | 8,830 |
Class B Ordinary Shares | |||
Shareholders’ equity | |||
Ordinary shares value | ¥ 4,087 | $ 577 | ¥ 4,087 |
Condensed Financial Informati_4
Condensed Financial Information of the Parent Company (Details) - Schedule of Condensed Balance Sheets (Parentheticals) - JAYUD GLOBAL LOGISTICS LIMITED [Member] - $ / shares | Dec. 31, 2023 | Dec. 31, 2022 |
Class A Ordinary Shares | ||
Condensed Balance Sheet Statements, Captions [Line Items] | ||
Ordinary shares, par value (in Dollars per share and Yuan Renminbi per share) | $ 0.0001 | |
Ordinary shares, shares authorized | 480,000,000 | 480,000,000 |
Ordinary shares, shares issued | 13,590,400 | 10,790,400 |
Ordinary shares, shares outstanding | 13,590,400 | 10,790,400 |
Class B Ordinary Shares | ||
Condensed Balance Sheet Statements, Captions [Line Items] | ||
Ordinary shares, par value (in Dollars per share and Yuan Renminbi per share) | $ 0.0001 | |
Ordinary shares, shares authorized | 20,000,000 | 20,000,000 |
Ordinary shares, shares issued | 6,409,600 | 6,409,600 |
Ordinary shares, shares outstanding | 6,409,600 | 6,409,600 |
Condensed Financial Informati_5
Condensed Financial Information of the Parent Company (Details) - Schedule of Condensed Statements of Comprehensive Income - JAYUD GLOBAL LOGISTICS LIMITED [Member] | 12 Months Ended | |||
Dec. 31, 2023 CNY (¥) | Dec. 31, 2023 USD ($) | Dec. 31, 2022 CNY (¥) | Dec. 31, 2021 CNY (¥) | |
Operating income (loss): | ||||
Share of income (loss) from subsidiaries | ¥ (69,491,719) | $ (9,811,474) | ¥ 3,888,723 | ¥ 10,305,308 |
Total operating income/ (loss) | (69,491,719) | (9,811,474) | 3,888,723 | 10,305,308 |
General and administrative expenses | (3,085,021) | (435,571) | ||
Total operating expenses | (3,085,021) | (435,571) | ||
Income (loss) before income tax expense | (72,576,740) | (10,247,045) | 3,888,723 | 10,305,308 |
Income tax expense | ||||
Net income (loss) | (72,576,740) | (10,247,045) | 3,888,723 | 10,305,308 |
Other comprehensive income (loss) | (1,360,105) | (192,032) | (200,146) | 10,158 |
Total comprehensive income (loss) | ¥ (72,576,740) | $ (10,247,045) | ¥ 3,688,577 | ¥ 10,315,466 |
Condensed Financial Informati_6
Condensed Financial Information of the Parent Company (Details) - Schedule of Condensed Statements of Cash Flows - JAYUD GLOBAL LOGISTICS LIMITED [Member] | 12 Months Ended | |||
Dec. 31, 2023 CNY (¥) | Dec. 31, 2023 USD ($) | Dec. 31, 2022 CNY (¥) | Dec. 31, 2021 CNY (¥) | |
Cash flows from operating activities: | ||||
Net income (loss) | ¥ (72,576,740) | $ (10,247,045) | ¥ 3,888,723 | ¥ 10,305,308 |
Equity in (gain) loss of subsidiaries | 69,491,719 | 9,811,474 | (3,888,723) | (10,305,308) |
Net cash used in operating activities | (3,085,021) | (435,571) | ||
Investment in subsidiaries | (37,191,258) | (5,251,000) | ||
Net cash provided by investing activities | (37,191,258) | (5,251,000) | ||
Net cash from financing activities: | ||||
Proceeds from shares issued | 73,133,125 | 10,325,600 | ||
Increase in due from subsidiaries | (26,344,560) | (3,719,565) | ||
Payments for deferred offering costs | (7,355,544) | (1,038,523) | ||
Proceeds from loans provided by shareholders | 839,730 | 118,561 | ||
Net cash provided by financing activities | 40,272,752 | 5,686,074 | ||
Net decrease in cash | (3,527) | (498) | ||
Effect of exchange rate changes | 576,236 | 81,358 | ||
Total cash and cash equivalents and restricted cash at beginning of the year | ||||
Total cash and cash equivalents and restricted cash at end of the year | ¥ 572,709 | $ 80,860 |