China's Changan Minsheng H1 profit falls on logistics price pressure, higher labor costs

Changan Minsheng Logistics

27/08/2026 10:05

Overview
China logistics provider's H1 2026 revenue rose 10% yr/yr to RMB4.59 bln
Net profit attributable to owners fell 46% yr/yr; gross profit margin was down to 3.95%
Company will not pay an interim dividend for H1 2026

Outlook
Company expects to deploy RMB75.47 mln of unused subscription proceeds by end-2027 for overseas capacity and smart logistics

Result Drivers
LOGISTICS PRICE PRESSURE – Declining logistics prices and higher operating and labor costs cut gross margin to 3.95% from 5.54%
LOWER NONOPERATING COSTS – Non-operating expenses fell to RMB1.69 mln from RMB23.98 mln as physical-count deficits and extraordinary losses declined

Key Details
Metric
Beat/Miss
Actual
Consensus Estimate
H1 Revenue
 
RMB 4.59 bln
 
H1 Net Income Attributable
 
RMB 22.50 mln
 

Analyst Coverage
The stock recently traded at 3 times the next 12-month earnings vs. a P/E of 5 three months ago

Reuters Recommended Reads
Aug 26 - Logistics provider Legion Consortium H1 revenue rises on higher trucking and freight forwarding demand
Aug 26 - France's ID Logistics H1 revenue rises on North America growth
Aug 24 - New Zealand's Move Logistics swings to profit in FY26 on cost cuts

For questions concerning the data in this report, contact Estimates.Support@lseg.com. For any other questions or feedback, contact reuters.support@thomsonreuters.com.

Press Release s3://eap-prd-eu-west-1-source-content/eap_feed_proxy/fingerpost/HKSW/2026-08-27/78ae6338-4852-4433-b862-5234a38a6a61.file
(This story was created using Reuters automation and AI based on LSEG and company data. It was checked and edited by a Reuters journalist prior to publication.)