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Smart Logistics (Nasdaq: SLGB) reports 2025 revenue dip, longer-haul growth

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6-K

Rhea-AI Filing Summary

Smart Logistics Global Limited reported fiscal year 2025 results showing lower revenue but stronger profitability, as gross profit margins improved despite the downturn. Management noted weakness in coal and steel shipments tied to the PRC economy, yet highlighted an 11.7% increase in total transport distance, indicating a shift toward longer-haul routes.

The company emphasized its expanding logistics network in China, including a Northern Supply Chain Center in Xuzhou that supports a North-South dual-core framework and long-haul business growth. Leadership expressed confidence in a gradual PRC economic recovery in 2026, supported by efficiency initiatives and efforts to deepen customer relationships.

Positive

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Negative

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Insights

Revenue declined in 2025, but margins and long-haul mix improved.

Smart Logistics Global reports a year of top-line pressure but better gross profitability. Management attributes revenue softness mainly to coal and steel demand weakness in the PRC economy, while highlighting an 11.7% increase in total kilometers transported driven by longer-haul routes.

The strategic opening of a Northern Supply Chain Center in Xuzhou supports a North-South dual-core framework, potentially reinforcing long-haul contract logistics for industrial raw materials. The company’s longer-haul focus and network build-out may help utilization, but the actual impact depends on how quickly PRC industrial activity recovers.

Management expects a gradual recovery in 2026 and points to ongoing efforts to optimize service efficiency and strengthen customer relationships. Future filings with quantified revenue, margin and volume data will clarify whether the margin gains and long-haul mix shift can offset cyclical demand volatility in core sectors like coal and steel.

Transport distance growth 11.7% Increase in total kilometers transported in 2025, reflecting longer-haul routes
Smart logistics park size 110,000 square meters Smart logistics park in Jiangxi Province supporting operations and growth
Full-truck load centers 7 centers Number of full-truck load centers located across China
Operating history Since 2018 Years operating as a B2B contract logistics provider in China
business-to-business (B2B) contract logistics financial
"has been a business-to-business (B2B) contract logistics provider in China"
long-haul transportation financial
"reflecting a shift toward longer-haul transportation despite lower overall volumes"
Transportation Management System technical
"By leveraging its proprietary Transportation Management System to optimize routes and equipment"
A transportation management system is software that plans, books, tracks and optimizes the movement of goods across trucks, ships, trains or planes, acting like a traffic-control center for a company’s shipments. It matters to investors because better routing, carrier selection and visibility lower shipping costs, speed delivery and reduce the chance of delays or penalties, which can directly improve profit margins, cash flow and customer satisfaction.
forward-looking statements regulatory
"This press release contains forward-looking statements. Forward-looking statements include statements concerning plans"
Forward-looking statements are predictions or plans that companies share about what they expect to happen in the future, like estimating sales or profits. They matter because they help investors understand a company's outlook, but since they are based on guesses and assumptions, they can sometimes be wrong.
North-South dual-core logistics framework financial
"through a North-South dual-core logistics framework"

 

 

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

 

FORM 6-K

 

REPORT OF FOREIGN PRIVATE ISSUER

PURSUANT TO RULE 13a-16 OR 15d-16

UNDER THE SECURITIES EXCHANGE ACT OF 1934

 

For the month of April 2026

 

Commission File Number: 001-42454

 

SMART LOGISTICS GLOBAL LIMITED

(Registrant’s Name)

 

Unit 702, Level 7, Core B, Cyberport 3

100 Cyberport Road

Pokfulam, Hong Kong 999077

(Address of Principal Executive Offices)

 

Indicate by check mark whether the registrant files or will file annual reports under cover Form 20-F or Form 40-F.

 

Form 20-F     Form 40-F

 

 

 

 

 

EXPLANATORY NOTE

 

On April 30, 2026, Smart Logistics Global Limited issued a press release, attached hereto as Exhibits 99.1.

 

Exhibits.

 

The following exhibits are being filed herewith:

 

99.1  Press release dated April 30, 2026

 

1

 

 

SIGNATURES

 

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized.

 

  Smart Logistics Global Limited
     
Date: April 30, 2026 By: /s/ Hue Kwok Chiu
  Name:  Hue Kwok Chiu
  Title: Chief Executive Officer

 

2

 

Exhibit 99.1

 

Smart Logistics Global Limited Reports Fiscal Year 2025 Financial Results

 

April 30, 2026 -- Smart Logistics Global Limited (Nasdaq: SLGB) (the “Company”), a Hong Kong-based business-to-business contract logistics solution provider, today reported its financial results for the fiscal year ended December 31, 2025.

 

Hue Kwok Chiu, Chief Executive Officer and Chairman of the Company, stated, “Although we experienced a decline in revenue, we were able to improve our gross profit margins. The total distance in kilometers we transported increased by 11.7%, reflecting a shift toward longer-haul transportation despite lower overall volumes. We did have a weakness in the coal and steel sectors which was attributed to the PRC economy during 2025 but the increase in transportation distance highlights the Company’s ability to capture demand in longer-distance routes. We believe the economic downturn will not persist throughout 2026 and we expect a gradual recovery in the PRC economy, supported by our ongoing efforts to optimize service efficiency and strengthen customer relationships.”

 

Financial highlights

 

Revenues for 2025 decreased from approximately RMB678.2 million for 2024 to approximately RMB628.5 million (US$89.9 million), representing a decrease of approximately 7.3%. This decline was mainly due to reduced customer demand, as evidenced by a 13.6% drop in the total number of transportation orders and a 13.0% decrease in total weight transported.

 

Income from operations decreased from RMB 11.4 million in 2024 to a net loss of RMB 14.2 million (US$ 2.0 million) in 2025, primarily due to a material non-cash share-based consulting expense recognized during 2025 in connection with the issuance of unrestricted ordinary shares to a third-party consultant. The expense significantly increased selling and marketing expenses for the year and was the principal driver of the Company’s net loss.

 

Net loss of RMB18.2 million (US$2.6 million) for 2025, compared to net income of RMB8.7 million in 2024.

 

Gross profit margin improved from approximately 4.1% in 2024 to 4.7% in 2025, despite the decline in revenue. This increase reflects the Company’s ability to maintain stable mark-ups to customers during a period of reduced demand and economic downturn in the PRC. The resilience in margin performance highlights effective cost management and pricing discipline, which helped offset the impact of lower order volumes and tonnage, and positions the Company to benefit from an anticipated recovery in transportation demand as the PRC economy stabilizes in 2026.

 

“In January we announced a Northern Supply Chain Center in Xuzhou, Jiangsu Province, China, which has expanded our B2B logistics network in China. This center has contributed to our long-haul business growth through a North-South dual-core logistics framework. We are confident our customer base combined with our new supply chain center and focus on longer-haul business will allow us to win new opportunities and execute on our sales and marketing initiatives we began in 2026,” concluded Hue Kwok Chiu.

 

 

 

 

About Smart Logistics Global Limited

 

Since 2018, the Company has been a business-to-business (B2B) contract logistics provider in China, focusing on industrial raw materials transportation. The Company offers tailored, cost-efficient logistics solutions primarily through land-only transportation services for large institutional clients with long-term contracts. By leveraging its proprietary Transportation Management System to optimize routes and equipment, the Company also commits to a scalable model via investments in advanced logistics infrastructure, including its 110,000-square-meter smart logistics park in Jiangxi Province and 7 full-truck load centers strategically located in China, which effectively enhances its operations and growth potential. For more information, please visit: https://www.smartlogisticsglobal.com/.

 

Forward-Looking Statement

 

This press release contains forward-looking statements. Forward-looking statements include statements concerning plans, objectives, goals, strategies, future events or performance, and underlying assumptions and other statements that are other than statements of historical facts. When the Company uses words such as “may, “will, “intend,” “should,” “believe,” “expect,” “anticipate,” “project,” “estimate” or similar expressions that do not relate solely to historical matters, it is making forward-looking statements. Forward-looking statements are not guarantees of future performance and involve risks and uncertainties that may cause the actual results to differ materially from the Company's expectations discussed in the forward-looking statements. These statements are subject to uncertainties and risks including, but not limited to, the uncertainties related to market conditions, and other factors discussed in the “Risk Factors” section of the registration statement filed with the SEC. For these reasons, among others, investors are cautioned not to place undue reliance upon any forward-looking statements in this press release. Additional factors are discussed in the Company's filings with the SEC, which are available for review at www.sec.gov. The Company undertakes no obligation to publicly revise these forward-looking statements to reflect events or circumstances that arise after the date hereof.

 

Investor Relations Contact

 

Andrew Barwicki
516-662-9461  
andrew@barwicki.com

 

 

 

FAQ

What did Smart Logistics Global Limited (SLGB) report in its 2025 results?

Smart Logistics Global reported fiscal 2025 results with lower revenue but improved gross profit margins. Management cited weakness in coal and steel sectors, while highlighting an 11.7% increase in total transport distance and growth in longer-haul transportation across its China logistics network.

How did Smart Logistics Global’s business mix change in fiscal year 2025?

The company shifted toward longer-haul transportation in 2025, as total kilometers transported increased 11.7% despite lower overall volumes. Management linked this to capturing demand on longer-distance routes, supported by its expanding B2B contract logistics network and new Northern Supply Chain Center in Xuzhou, China.

What challenges did Smart Logistics Global (SLGB) face in coal and steel sectors?

Smart Logistics Global experienced weakness in coal and steel transportation in 2025, which management attributed to the PRC economy. These sector headwinds contributed to revenue decline, even as the company improved gross profit margins and increased average transport distances through a focus on longer-haul logistics routes.

What is the Northern Supply Chain Center mentioned by Smart Logistics Global?

In January, Smart Logistics Global launched a Northern Supply Chain Center in Xuzhou, Jiangsu Province. This facility expands its B2B logistics network and supports a North-South dual-core framework, contributing to long-haul business growth and underpinning sales and marketing initiatives started in 2026 across China.

How is Smart Logistics Global positioned in China’s contract logistics market?

Since 2018, the company has focused on B2B contract logistics for industrial raw materials in China. It offers land-only transportation with long-term institutional clients, using a proprietary Transportation Management System and infrastructure like a 110,000-square-meter smart logistics park and seven full-truck load centers to scale operations.

What outlook did Smart Logistics Global give for the PRC economy and its business?

Management believes the PRC economic downturn seen in 2025 will not persist throughout 2026 and expects gradual recovery. They plan to benefit from this through ongoing efforts to optimize service efficiency, strengthen customer relationships, and leverage longer-haul logistics and the new Northern Supply Chain Center.

Filing Exhibits & Attachments

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