Core Viewpoint - The company Yiatong is involved in various sectors including supply chain management, semiconductor storage, and computing solutions, with a focus on domestic and international partnerships to enhance its market position and product offerings [2][3][4]. Company Overview - Yiatong Supply Chain Co., Ltd. is located in Longgang District, Shenzhen, Guangdong Province, and was established on November 10, 1997. It was listed on November 13, 2007. The main business involves supply chain management services, with revenue composition as follows: 76.73% from distribution and marketing, 20.25% from cross-border and logistics services, and 3.27% from brand operation [8]. - As of December 11, the number of shareholders is 150,200, with an average of 17,290 circulating shares per person. For the period from January to September 2025, the company achieved operating revenue of 52.263 billion yuan, a year-on-year decrease of 10.57%, and a net profit attributable to shareholders of 35.1949 million yuan, down 42.56% year-on-year [8]. Business Segments - The company has a stake in the Hong Kong-listed Junzhi Group (01300.HK), a leading provider of mobile communication transmission solutions, with products covering various communication technologies including 2G, 3G, 4G, 5G, and NBIOT [2]. - Yiatong's subsidiary, Zhuoyou Technology, focuses on computing power services, providing advanced products and solutions across multiple fields such as data centers, network security, and cloud platforms. The company has established long-term partnerships with industry players like Hongmeng [3]. - In the storage agency business, Yiatong has built a supply chain system covering major international storage providers and maintains solid partnerships with leading semiconductor manufacturers, offering a range of storage products [4]. Market Activity - On February 6, Yiatong's stock fell by 0.38%, with a trading volume of 438 million yuan and a turnover rate of 3.24%, bringing the total market capitalization to 13.478 billion yuan [1]. - The main net inflow of funds today was 11.1353 million yuan, accounting for 0.03% of the total, with the industry ranking at 6 out of 28 [5]. Technical Analysis - The average trading cost of the stock is 5.55 yuan, indicating some accumulation activity, although the strength of this accumulation is weak. The current stock price is near a resistance level of 5.29 yuan, suggesting caution against potential pullbacks [7].

Group 1 - The company, Yiyaton, stated its commitment to steady operations and continuous optimization of its financial structure [2] - The company aims to effectively manage its market value [2]

Group 1 - The company, Yiyaton, stated on February 4 that it strictly adheres to relevant laws and regulations regarding information disclosure [2] - Investors are advised to refer to the official announcements released by the company for accurate information [2]

Core Viewpoint - The leadership change at Yiatong marks a significant transition as Chen Weimin takes over as chairman from founder Zhou Guohui, amidst challenges including projected losses in 2025 due to declining margins in the fast-moving consumer goods sector [2][28]. Company Overview - Yiatong, founded in 1997, has grown to achieve over 70 billion in revenue under Zhou's leadership, who has gradually stepped back from management roles [2][28]. - The company is facing a projected net loss of approximately 200 to 300 million in 2025 due to declining gross margins and accounts receivable issues [2][28]. Financial Performance - The company reported a net profit attributable to shareholders of -30 million, a decline of 383.40% year-on-year, with a basic earnings per share of -0.12 [30]. - The gross profit margin has remained low, fluctuating between 4-5% in recent years, indicating pressure from e-commerce and logistics giants [30][42]. Strategic Initiatives - Chen Weimin's team is focusing on transformation efforts, including expanding overseas operations and enhancing technology services [5][31]. - The company aims to solidify its supply chain services while pushing for compliance and refined management practices to improve efficiency [6][31]. Business Segments - As of 2025, nearly 90% of Yiatong's revenue still comes from traditional supply chain operations, including distribution, brand operation, and cross-border logistics [40]. - Cross-border and logistics services have shown significant growth, with revenues reaching 7.28 billion, a year-on-year increase of 382.86% [11][34]. Investment and Partnerships - Yiatong has secured strategic investments, including 200 million for its logistics subsidiary focused on the electric vehicle supply chain [37]. - The company is forming an "industry overseas ecological alliance" to integrate services across trade, logistics, finance, and technology [38]. Future Directions - The new management is pursuing a "1+3+1" strategy, focusing on comprehensive supply chain services, incubating emerging industries, and enhancing capital operations and digital transformation [42][43]. - The company is actively investing in AI, semiconductors, and new energy sectors to transition from traditional logistics to a high-value technology ecosystem [42][43]. Leadership Profile - Chen Weimin, aged 56, has a strong background in risk management and finance, having joined Yiatong in 2004 and held various senior positions [24][50]. - His leadership is seen as crucial for navigating the company through its current challenges and focusing on core competencies to create value [51].

Group 1 - The core viewpoint of the article is that the company, Yiyaton (002183), is committed to maintaining stable operations and enhancing market value management to reward investors [1] Group 2 - The company responded to investor inquiries on an interactive platform, indicating its focus on investor relations and transparency [1] - The emphasis on steady management suggests a strategic approach to navigating market challenges and opportunities [1] - The commitment to market value management reflects the company's intention to prioritize shareholder interests in its operational strategy [1]

Core Viewpoint - Shenzhen Yiyaton Supply Chain Co., Ltd. (referred to as "the company") forecasts a net loss attributable to shareholders of 200 million to 300 million yuan for the year 2025, indicating a challenging financial outlook due to various internal and external factors [1] Financial Performance - The company anticipates a net profit loss of 260 million to 390 million yuan after deducting non-recurring items for 2025 [1] - The overall business gross margin is expected to decline, with the fast-moving consumer goods segment being particularly affected [1] Credit Risk Assessment - The company is conducting a preliminary assessment of the recoverability of accounts receivable and other receivables as of the end of 2025 [1] - An increase in credit impairment losses is expected for 2025 compared to 2024 [1]

Core Viewpoint - The trade sector experienced a significant decline, with a drop of 4.35% on February 2, leading to a broader market downturn reflected in the Shanghai Composite Index and Shenzhen Component Index, which fell by 2.48% and 2.69% respectively [1] Group 1: Market Performance - The Shanghai Composite Index closed at 4015.75, down 2.48% [1] - The Shenzhen Component Index closed at 13824.35, down 2.69% [1] - The trade sector's leading stock, Yiatong, fell by 10.07%, closing at 5.45 [1] Group 2: Stock Performance - Major stocks in the trade sector showed significant declines, with Citic Metal down 5.69% to 14.09, and ST PA down 4.99% to 3.81 [1] - Other notable declines included BanSuo HuiHong down 4.39% to 3.27, and Wukuang Development down 3.59% to 13.17 [1] Group 3: Capital Flow - The trade sector saw a net outflow of 422 million yuan from main funds, while retail investors contributed a net inflow of 352 million yuan [1] - The table of capital flow indicates that SuMeida had a main fund net inflow of 317.53 thousand yuan, while Jiangsu Guotai experienced a net outflow of 205 million yuan [2]

| 证券代码：002183 | 证券简称：怡亚通 公告编号：2026-016 | | --- | --- | | 债券代码：148576 | 债券简称：24 怡亚 01 | | 债券代码：148506 | 债券简称：23 怡亚 03 | | 债券代码：148411 | 债券简称：23 怡亚 02 | | 债券代码：148365 | 债券简称：23 怡亚 01 | 深圳市怡亚通供应链股份有限公司 关于董事长、董事、审计委员会的人员变动的公告 本公司及董事会全体成员保证信息披露的内容真实、准确、完整，没有 虚假记载、误导性陈述或重大遗漏。 一、人员变动的基本情况 截至本公告出具日，深圳市怡亚通供应链股份有限公司（以下简称"公司" 或"怡亚通"）发生董事长、董事、审计委员会的人员变动的事项，具体情况公 告如下： （一）原任职人员基本情况 因公司第七届董事会任期届满，根据《中华人民共和国公司法》《深圳证券 交易所股票上市规则》及《公司章程》等相关规定，公司进行董事会换届选举。 （二）新聘任人员基本情况 表二 新董事长、董事、审计委员会任职人员基本情况 | 序号 | 姓名 | 职务 | | --- | --- | -- ...

关于 深圳市怡亚通供应链股份有限公司 董事长、董事、审计委员会的人员变动的 临时受托管理事务报告 | 债券简称：148576.SZ | 债券代码：24 | 怡亚 | 01 | | --- | --- | --- | --- | | 债券简称：148506.SZ | 债券代码：23 | 怡亚 | 03 | | 债券简称：148411.SZ | 债券代码：23 | 怡亚 | 02 | | 债券简称：148365.SZ | 债券代码：23 | 怡亚 | 01 | 债券受托管理人 2026 年 2 月 重要声明 本报告依据《公司债券发行与交易管理办法》《公司债券受托管理人执业行 为准则》、深圳市怡亚通供应链股份有限公司（以下简称"怡亚通"、"发行人" 或"公司"）就存续公司债券与受托管理人签署的受托管理协议（以下简称"《受 托管理协议》"）及其它相关信息披露文件以及发行人出具的相关说明文件和提 供的相关资料等，由受托管理人中信建投证券股份有限公司（以下简称"中信建 投证券"或"受托管理人"）编制。中信建投证券编制本报告的内容及信息均来 源发行人提供的资料或说明。 本报告不构成对投资者进行或不进行某项行为的推荐意见，投 ...

关于 重要声明 深圳市怡亚通供应链股份有限公司 2025 年度业绩预告的 临时受托管理事务报告 | 债券简称：148576.SZ | 债券代码：24 | 怡亚 | 01 | | --- | --- | --- | --- | | 债券简称：148506.SZ | 债券代码：23 | 怡亚 | 03 | | 债券简称：148411.SZ | 债券代码：23 | 怡亚 | 02 | | 债券简称：148365.SZ | 债券代码：23 | 怡亚 | 01 | 债券受托管理人 2026 年 2 月 本报告依据《公司债券发行与交易管理办法》《公司债券受托管理人执业行 为准则》、深圳市怡亚通供应链股份有限公司（以下简称"怡亚通"、"发行人" 或"公司"）就存续公司债券与受托管理人签署的受托管理协议（以下简称"《受 托管理协议》"）及其它相关信息披露文件以及发行人出具的相关说明文件和提 供的相关资料等，由受托管理人中信建投证券股份有限公司（以下简称"中信建 投证券"或"受托管理人"）编制。中信建投证券编制本报告的内容及信息均来 源发行人提供的资料或说明。 本报告不构成对投资者进行或不进行某项行为的推荐意见，投资者应对相关 ...