Segments 3 segments (2025）
Agency & Related58.9%
Turnover 570.1000mn · segment profit 18.5700mn
Rev -15.13% · Profit -17.41%
- Ocean forwarding405.26
- Rail forwarding97.81
- Air forwardingSegment loss RMB -0.03bn75.97
- Warehousing & depot37.06
- Ship agency17.85
Specialized Logistics30.3%
Turnover 293.7000mn · segment profit 5.5900mn
Rev +5.08% · Profit -22.73%
- Contract logistics218.81
- Project logistics+53% on metals & power projects58.06
- Chemical logistics19.06
E-commerce10.8%
Turnover 104.2900mn · segment profit 0.2000mn
Rev +0.00% · Profit -87.65%
- Cross-border e-commerce logisticsSqueezed by US de-minimis tariffs & platform direct-signing57.25
- Logistics e-commerce platform67.53
- Equipment sharing platform1.39
Supply-chain network resources Domestic + overseas + JVs + capacity · complete view
🗺️ A map view ships once coordinates are backfilled (S2+); this is the complete annual-report inventory.
⚓Domestic hubs & facilities 5
- 11 self-operated river terminals Guangdong / Jiangsu / Anhui / Guangxi
- 70+ port agency branches Coastal and Yangtze coverage
- Warehousing & container depot network Revenue RMB 3.71bn
- Parks under construction (RMB 0.97bn) Under construction Lingang 0.39bn · Chengdu 0.19bn · Weihai 0.07bn · Ningbo/Zhengzhou/Lianyungang/Xinjiang etc.
- 6 warehouse assets to REIT BOC-Sinotrans logistics REIT listed on SSE 2025-07-29 (RMB 1.31bn raised
🌏Overseas footprint 5
- Dubai logistics park (under construction) Under construction RMB 0.18bn invested · Middle East foothold
- MAXX Logistics (Dubai) Equity investment RMB 0.03bn
- Middle East SHEIN programme Key cross-border e-commerce account
- Thailand warehouse (phase 2 under construction) Under construction Southeast Asia node
- Japan / Korea / Thailand rep offices Agency and market reach
🤝International JV network 6
- DHL-Sinotrans air courier JV Equity RMB 1.48bn · FY2025 profit RMB 1.17bn (dividend RMB 1.38bn)
- Sarens JV (heavy lift) Belgium · equity RMB 0.15bn
- Nippon Express / Senko JVs (cold chain) Japan · two JVs
- CRCT strategic partnership Guangzhou / Xi'an JVs
- Terminal JV matrix Dongguan Port / Lianyungang New Land Bridge / Zhejiang Airport Supply Chain etc.
- Loscam (pallet pooling) Sold 25% for USD 0.47bn in 2025
🚂Corridors & capacity 3
- Self-operated cross-border rail platform 16 weekly fixed trains (Changsha/Shenyang/Shenzhen/Xinxiang/Mianyang etc.); 13
- Air "new-type carrier" system Controlled capacity · end-to-end visibility
- Ocean & air capacity partnerships Long-term agreements with major carriers and airlines
Source: annual reports (business review / CIP / long-term equity investments) · completeness: full annual-report inventory, rolling updates
Timeline Milestones
2002
Incorporated in Beijing
Founded by Sinotrans Group as a joint-stock company
2003
H-share listing in Hong Kong
2009
Strategic merger with Changhang Group
Controlling shareholder renamed Sinotrans & CSC
2015
Merged into China Merchants Group
State Council approved the reorganisation; became CMG's listed logistics platform
2019
A-share listing on SSE
Absorbed Sinotrans Air Transportation & Development; A+H dual listing
2025
Ocean forwarding volume ranked global No.1
Air forwarding No.5 globally; interest-bearing debt ratio optimised to 20.39%
2025NEW
First central-SOE warehouse REIT listed + partial Loscam exit
BOC-Sinotrans REIT listed on SSE (RMB 1.31bn); sold 25% of Loscam for USD 0.47bn
Five-year financials Revenue / net profit (RMB 100mn)
— Revenue ·
— Net profit
· 2021 margin 3.74% · 2022 margin 3.73% · 2023 margin 4.15% · 2024 margin 3.71% · 2025 margin 4.15% (EBIT not disclosed — see per-year basis)