Form 6-K/A - Report of foreign issuer [Rules 13a-16 and 15d-16]: [Amend]

 

 

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

 

FORM 6-K/A

 

REPORT OF FOREIGN PRIVATE ISSUER

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

UNDER THE SECURITIES EXCHANGE ACT OF 1934

 

For the month of November 2024

 

Commission File Number: 001-41656

 

Jayud Global Logistics Limited

(Exact name of registrant as specified in its charter)

 

Building 3, No. 7 Gangqiao Road,

Li Lang Community, Nanwan Street,

Longgang District, Shenzhen,

People’s Republic of China

(Address of principal executive offices)

 

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

 

Form 20-F ☒       Form 40-F ☐

 

 

 

 

EXPLANATORY NOTE

 

This Form 6-K/A of Jayud Global Logistics Limited (the “Company”) amends the Company’s report on Form 6-K (the “Original 6-K”) furnished with the U.S. Securities and Exchange Commission (the “SEC”) on October 25, 2024, which provided results for the six months ended June 30, 2024 in connection with the unaudited interim condensed consolidated financial statements as of and for the six months ended June 30, 2024. This Form 6-K/A amends the Original 6-K to include an unaudited condensed consolidated statement of changes in equity, an unaudited condensed consolidated statements of cash flows, and notes to the unaudited condensed consolidated financial statements of the Company. This Form 6-K/A also includes as Exhibit 99.2 the Management’s Discussion and Analysis of Financial Condition and Results of Operations related to the interim financial statements. In addition, this Form 6-K/A includes the interactive data file as Exhibit 101, which provides the unaudited condensed consolidated financial statements of the Company formatted in XBRL (eXtensible business reporting language).

 

The Form 6-K/A and the exhibits to the Form 6-K/A are hereby incorporated by reference into the Company’s registration statement on Form F-3, as amended (File No. 333- 280010), and shall be a part thereof from the date on which this report is furnished, to the extent not superseded by documents or reports subsequently filed or furnished.

 

Cautionary Statement Regarding Forward Looking Statements

 

We have made statements in this report that constitute forward-looking statements. Forward-looking statements involve risks and uncertainties, such as statements about our plans, objectives, expectations, assumptions or future events. In some cases, you can identify forward-looking statements by terminology such as “anticipate,” “estimate,” “plan,” “project,” “continuing,” “ongoing,” “expect,” “we believe,” “we intend,” “may,” “should,” “could” and similar expressions. These statements involve estimates, assumptions, known and unknown risks, uncertainties and other factors that could cause actual results to differ materially from any future results, performances or achievements expressed or implied by the forward-looking statements.

 

These forward-looking statements include statements about:

 

●

our future business development, financial condition and results of operations;

 

●

the expected growth of the relevant markets;

 

●

our expectations regarding demand for and market acceptance of our services;

 

●

expected changes in our revenues, costs or expenditures;

 

●

general business, political, social and economic conditions in China and the relevant markets where we have operations.

 

The ultimate correctness of these forward-looking statements depends upon a number of known and unknown risks and events. Many factors could cause our actual results to differ materially from those expressed or implied in our forward-looking statements. Consequently, you should not place undue reliance on these forward-looking statements.

 

The forward-looking statements speak only as of the date on which they are made, and, except as required by law; we undertake no obligation to update any forward-looking statement to reflect events or circumstances after the date on which the statement is made or to reflect the occurrence of unanticipated events. In addition, we cannot assess the impact of each factor on our business or the extent to which any factor, or combination of factors, may cause actual results to differ materially from those contained in any forward-looking statements.

 

1

 

SIGNATURE

 

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.

 

Date: November 27, 2024

 

	Jayud Global Logistics Limited
	By:	/s/ Xiaogang Geng
	Name:	Xiaogang Geng
	Title:	Chief Executive Officer

 

2

 

Exhibits Index

 

Exhibit No.		Description
99.1		Unaudited Condensed Consolidated Interim Financial Statements
99.2		Management’s Discussion and Analysis of Financial Condition and Results of Operations
101.INS		Inline XBRL Instance Document.
101.SCH		Inline XBRL Taxonomy Extension Schema Document.
101.CAL		Inline XBRL Taxonomy Extension Calculation Linkbase Document.
101.DEF		Inline XBRL Taxonomy Extension Definition Linkbase Document.
101.LAB		Inline XBRL Taxonomy Extension Label Linkbase Document.
101.PRE		Inline XBRL Taxonomy Extension Presentation Linkbase Document.
104		Cover Page Interactive Data File (formatted as Inline XBRL and contained in Exhibit 101).

 

 

 

3

 

 

Exhibit 99.1

 

JAYUD GLOBAL LOGISTICS LIMITED

INDEX TO CONSOLIDATED FINANCIAL STATEMENTS

 

	Page
Unaudited Interim Condensed Consolidated Balance Sheets as of June 30, 2024 and December 31, 2023	F-2
Unaudited Interim Condensed Consolidated Statements of Operations and Comprehensive Loss for the Six Months Ended June 30, 2024 and 2023	F-3
Unaudited Interim Condensed Consolidated Statements of Changes in Shareholders’ Equity/ (Deficit) for the Six Months Ended June 30, 2024 and 2023	F-4
Unaudited Interim Condensed Consolidated Statements of Cash Flows for the Six Months Ended June 30, 2024 and 2023	F-5
Notes to Unaudited Interim Condensed Consolidated Financial Statements	F-6– F-45

 

F-1

 

 

JAYUD GLOBAL LOGISTICS LIMITED

INTERIM CONDENSED CONSOLIDATED BALANCE SHEETS

 

		December 31,				June 30, 2024
		2023				(Unaudited)
		RMB				RMB				US$
Assets
Current assets
Cash			26,103,076				21,076,691				2,957,385
Restricted cash			501,952				-				-
Accounts receivable, net			41,281,988				46,816,230				6,569,039
Accounts receivable - related parties			-				260,010				36,483
Contract assets			2,023,221				2,787,512				391,131
Prepaid expenses and other current assets, net			12,513,878				9,626,088				1,350,689
Other receivable - related parties			164,858				385,563				54,100
Total current assets			82,588,973				80,952,094				11,358,827
Non-current assets
Property and equipment, net			1,123,976				973,909				136,654
Intangible asset, net			1,994,868				1,550,055				217,497
Operating right-of-use assets, net			8,992,535				3,685,004				517,063
Deferred offering costs			-				299,397				42,010
Deferred tax assets, net			3,689,514				4,829,555				677,661
Refundable deposits			2,060,734				1,060,734				148,837
Total non-current assets			17,861,627				12,398,654				1,739,722
TOTAL ASSETS			100,450,600				93,350,748				13,098,549
LIABILITIES AND SHAREHOLDERS’ EQUITY
Current liabilities
Short-term borrowings			25,603,498				21,436,891				3,007,927
Current maturities of long-term borrowing			4,400,000				4,100,000				575,293
Loan payable - a related party			3,000,000				-				-
Loans payable - a third party			-				2,829,023				396,956
Accounts payable - third parties			39,804,623				40,867,407				5,734,328
Accounts payable - related parties			6,666,458				18,241,237				2,559,527
Contract liabilities			4,777,398				2,611,792				366,475
Accrued expenses and other current liabilities			7,485,881				13,437,842				1,885,537
Other payables - related parties			8,516,645				738,548				103,630
Other payables - shareholders			37,029				18,013				2,528
Taxes payable			513,197				917,728				128,771
Operating lease liabilities - current			8,806,671				5,067,633				711,067
Total current liabilities			109,611,400				110,266,114				15,472,039
Non-current liabilities
Loans payable - shareholders			823,265				16,335,567				2,292,132
Loans payable - a third party			2,833,080				-				-
Loans payable - a related party			-				2,000,000				280,631
Operating lease liabilities – non-current			5,216,622				2,268,683				318,331
Other payables - shareholders -non-current			6,937,500				6,937,500				973,438
Deferred tax liabilities			760,806				980,166				137,530
Total non-current liabilities			16,571,273				28,521,916				4,002,062
Total liabilities			126,182,673				138,788,030				19,474,101
Commitments and contingencies
Shareholders’deficit
Class A Ordinary shares (par value of US$ 0.0001 per share;480,000,000 Class A ordinary shares authorized and 14,942,623 Class A ordinary shares issued and outstanding as of December 31, 2023 and June 30, 2024.)			9,787				9,787				1,373
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, 2023 and June 30, 2024.)			4,087				4,087				573
Additional paid in capital			60,423,647				59,999,981				8,418,923
Statutory reserves			502,941				764,231				107,233
Accumulated deficit			(77,454,208	)			(95,650,425	)			(13,421,230	)
Accumulated other comprehensive loss			(1,541,653	)			(1,511,046	)			(212,023	)
Total Jayud Global Logistics Limited shareholders’ deficit			(18,055,399	)			(36,383,385	)			(5,105,151	)
Non-controlling interests			(7,676,674	)			(9,053,897	)			(1,270,401	)
Total shareholders’ deficit			(25,732,073	)			(45,437,282	)			(6,375,552	)
TOTAL LIABILITIES AND SHAREHOLDERS’ DEFICIT			100,450,600				93,350,748				13,098,549

 

The accompanying notes are an integral part of these interim condensed consolidated financial statements

 

F-2

 

 

JAYUD GLOBAL LOGISTICS LIMITED

INTERIM CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS AND COMPREHENSIVE LOSS

 

		For the Six Months Ended June 30,
		2023				2024
		(Unaudited)				(Unaudited)
		RMB				RMB				US$
Revenues - freight forwarding			166,182,598				162,734,262				22,834,127
Revenues - freight forwarding - related parties			211,684				609,612				85,538
Revenues - supply chain management and others			3,090,971				106,622,319				14,960,756
Revenues - supply chain management and others - related parties			-				641,316				89,987
Total Revenues			169,485,253				270,607,509				37,970,408
Cost of revenues -freight forwarding			(133,365,583	)			(139,288,357	)			(19,544,306	)
Cost of revenues -freight forwarding - related parties			(34,233,328	)			(33,130,090	)			(4,648,663	)
Cost of revenues - supply chain management and others			(2,495,486	)			(100,901,129	)			(14,157,985	)
Total Cost of revenues			(170,094,397	)			(273,319,576	)			(38,350,954	)
Gross loss			(609,144	)			(2,712,067	)			(380,545	)
Operating expenses
Selling expenses			(6,373,345	)			(3,850,752	)			(540,320	)
(Provision for) / reversal of credit losses			(993,807	)			1,840,875				258,303
Impairment charges on long-lived assets			-				(963,867	)			(135,245	)
Lease termination loss			(1,197,921	)			(310,673	)			(43,592	)
General and administrative expenses			(13,628,922	)			(11,844,976	)			(1,662,033	)
Research and development expenses			(1,755,063	)			(502,278	)			(70,477	)
Total operating expenses			(23,949,058	)			(15,631,671	)			(2,193,364	)
Operating loss			(24,558,202	)			(18,343,738	)			(2,573,909	)
Other expenses
Other (expenses) income, net			(241,469	)			74,482				10,451
Foreign exchange loss, net			(974,371	)			(464,790	)			(65,217	)
Financial expenses, net			(417,654	)			(1,252,481	)			(175,742	)
Total other expenses, net			(1,633,494	)			(1,642,789	)			(230,508	)
Loss before income tax expense			(26,191,696	)			(19,986,527	)			(2,804,417	)
Income tax (expenses) benefit			(36,339	)			672,393				94,347
Net loss			(26,228,035	)			(19,314,134	)			(2,710,070	)
Less: Net loss attributable to non-controlling interests			(2,476,015	)			(1,379,207	)			(193,524	)
Net loss attributable to the Jayud Global Logistics Limited’s ordinary shareholders			(23,752,020	)			(17,934,927	)			(2,516,546	)
Net loss			(26,228,035	)			(19,314,134	)			(2,710,070	)
Foreign currency translation adjustment, net of tax			(2,452,762	)			(1,329,500	)			(186,549	)
Total comprehensive loss			(28,680,797	)			(20,643,634	)			(2,896,619	)
Less: total comprehensive loss attributable to non-controlling interest			(2,476,015	)			(1,379,207	)			(193,524	)
Total comprehensive loss attributable to Jayud Global Logistics Limited’s ordinary shareholders			(26,204,782	)			(19,264,427	)			(2,703,095	)
Net loss per share
Basic and diluted			(1.16	)			(0.84	)			(0.12	)
Weighted average shares
Basic and diluted			20,494,426				21,352,223				21,352,223

 

The accompanying notes are an integral part of these interim condensed consolidated financial statements.

 

F-3

 

 

JAYUD GLOBAL LOGISTICS LIMITED

INTERIM CONDENSED CONSOLIDATED STATEMENTS OF CHANGES IN SHAREHOLDERS’ EQUITY/ (DEFICIT)

 

		Class A Ordinary shares*								Class B Ordinary shares*								Additional paid-in				Subscription				Statutory				(Accumulated deficit) /Retained				Accumulated other comprehensive				Total Jayud Global Logistics Limited shareholders’				Non-controlling				Total shareholders’
		Share				Amount				Share				Amount				capital				receivable				reserves				earnings				loss				equity				interests				equity
						RMB								RMB				RMB				RMB				RMB				RMB				RMB				RMB				RMB				RMB
Balance as of December 31, 2022			13,590,400				8,830				6,409,600				4,087				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			-				-				-				-				-				-				(1,076,065	)			1,076,065				-				-				-				-
Net loss			-				-				-				-				-				-								(23,752,020	)			-				(23,752,020	)			(2,476,015	)			(26,228,035	)
Issuance of new shares			1,250,000				976				-				-				39,083,572								-				-				-				39,084,622				-				39,084,622
Issuance of warrants			-				-				-				-				360,874								-				-				-				360,874				-				360,874
Reorganization payment			-				-				-				-				(34,399,708	)							-				-				-				(34,399,708	)			-				(34,399,708	)
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			-				-				-				-				(16,101,079	)			-				-								-				(16,101,079	)			-				(16,101,079	)
Foreign currency translation			-				-				-				-				-				-				-				-				(2,252,616	)			(2,252,616	)			-				(2,252,616	)
Balance as of June 30, 2023 (unaudited)			14,942,623				9,880				6,409,600				4,087				61,635,472				-				3,575,076				(31,701,623	)			(2,434,162	)			31,088,730				(4,904,085	)			26,184,645
Balance as of December 31, 2023			14,942,623				9,787				6,409,600				4,087				60,423,647				-				502,941				(77,454,208	)			(1,541,653	)			(18,055,399	)			(7,676,674	)			(25,732,073	)
Provision for statutory reserve			-				-				-				-				-				-				261,290				(261,290	)			-				-				-				-
Net loss			-				-				-				-				-				-								(17,934,927	)			-				(17,934,927	)			(1,379,207	)			(19,314,134	)
Business acquisition (note 1(c))			-				-				-				-				4,654				-								-				-				4,654				1,984				6,638
Others			-				-				-				-				(428,320	)			-				-				-				-				(428,320	)			-				(428,320	)
Foreign currency translation			-				-				-				-				-				-				-				-				30,607				30,607				-				30,607
Balance as of June 30, 2024 (unaudited)			14,942,623				9,787				6,409,600				4,087				59,999,981				-				764,231				(95,650,425	)			(1,511,046	)			(36,383,385	)			(9,053,897	)			(45,437,282	)
Balance as of June 30, 2024 (unaudited) (US$)							1,373								573				8,418,923				-				107,233				(13,421,230	)			(212,023	)			(5,105,151	)			(1,270,401	)			(6,375,552	)

 

The accompanying notes are an integral part of these interim condensed consolidated financial statements.

F-4

 

 

JAYUD GLOBAL LOGISTICS LIMITED
INTERIM CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS

		For the Six Months Ended June 30,
		2023				2024
		(Unaudited)				(Unaudited)
		RMB				RMB				US$
Cash flows from operating activities:
Net loss			(26,228,035	)			(19,314,134	)			(2,710,070	)
Adjustments to reconcile net income to net cash provided by (used in) operating activities:
Provision for (reversal of) credit losses			993,807				(1,840,875	)			(258,303	)
Lease termination loss			1,197,921				310,673				43,592
Depreciation and amortization			496,168				242,022				33,959
Amortization of operating lease right-of-use asset			2,432,398				2,565,585				359,991
Losses from disposal of property, equipment and software			3,000				-				-
Impairment losses of property and equipment			-				963,867				135,245
Investment losses			-				33,813				4,744
Deferred tax benefit			-				(920,680	)			(129,186	)
Changes in operating assets and liabilities
Accounts receivable, net			(21,949,257	)			(3,464,994	)			(486,192	)
Accounts receivable - related parties			1,676,016				(260,010	)			(36,483	)
Contract assets			(1,582,304	)			(798,100	)			(111,986	)
Prepaid expenses and other current asset, net			(7,263,504	)			3,753,560				526,682
Prepaid expenses - a related party			-				(260,513	)			(36,554	)
Accounts payable			2,936,793				894,174				125,466
Accounts payable - related parties			8,912,233				11,574,779				1,624,120
Contract liabilities			(425,892	)			(2,165,606	)			(303,868	)
Accrued expenses and other current liabilities			2,149,561				(2,081,469	)			(292,062	)
Other payable - shareholders			(24,465	)			(19,016	)			(2,668	)
Other payable - related parties			-				(2,704	)			(380	)
Tax payable			(2,505,920	)			404,530				56,761
Operating lease liabilities			(2,344,457	)			(4,255,704	)			(597,141	)
Net cash used in operating activities			(41,525,937	)			(14,640,802	)			(2,054,333	)
Cash flows from investing activities:
Acquisition of subsidiary, net of cash acquired			-				144,431				20,269
Purchase of property, equipment and intangible assets			(2,294,212	)			(611,010	)			(85,734	)
Net cash used in investing activities			(2,294,212	)			(466,579	)			(65,465	)
Cash flows from financing activities:
Proceeds from short-term borrowings			10,000,000				17,743,710				2,489,716
Proceeds from a long-term borrowing			-				-				-
Repayments of short-term borrowings			(6,300,000	)			(21,910,317	)			(3,074,356	)
Repayment of a long-term borrowing			(300,000	)			(300,000	)			(42,095	)
Proceeds from loans provided by shareholders			2,000,000				15,508,245				2,176,046
Proceeds from loans provided by related parties			-				3,000,000				420,946
Loans repayment to shareholders			-								-
Loans repayment to related parties			-				(4,000,000	)			(561,262	)
Proceeds from new shares issuance			74,507,913				-				-
Payments for deferred offering costs			(9,414,075	)			(513,201	)			(72,010	)
Payments to Initial shareholders			(35,000,000	)			-				-
Capital injection by a non-controlling interest			-				20,000				2,806
Other payable - related parties			(709,375	)			-				-
Net cash provided by financing activities			34,784,463				9,548,437				1,339,791
Effect of exchange rate changes			(2,252,616	)			30,607				4,296
Net decrease in cash and cash equivalents and restricted cash			(11,288,302	)			(5,528,337	)			(775,711	)
Total cash and cash equivalents and restricted cash at beginning of the year			28,440,241				26,605,028				3,733,096
Total cash and cash equivalents and restricted cash at end of the year			17,151,939				21,076,691				2,957,385
Restricted cash at end of the year			501,695				-				-
Cash and cash equivalents at end of the year			16,650,244				21,076,691				2,957,385
Supplemental disclosure of cash flow information:
Income tax paid			2,152,341				172,377				24,187
Interest expense paid			463,221				645,490				90,572
Supplemental non-cash investing and financing information:
Obtaining right-of-use assets in exchange for operating lease liabilities			12,004,719				7,203,051				1,010,699
Dividend distribution included in Other payable - shareholders			6,937,500				-				-
Issuance of warrant as share issue cost			360,874				-				-

 

The accompanying notes are an integral part of these interim condensed consolidated financial statements. 

 

F-5

 

 

JAYUD GLOBAL LOGISTICS LIMITED

NOTES TO INTERIM CONDENSED CONSOLIDATED FINANCIAL STATEMENTS

 

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 June 30, 2024, 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 Incorporation /Acquisition

Place of incorporation

Percentage of direct ownership

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

HK (FASTFLY) International Logistics Co., Limited (“FASTFLY”)

JYD HK

April 2, 2024

Hong Kong

51

%

Freight forwarding

HYTX Warehouse Inc. (“HYTX”)

JYD US

May 15, 2024

U.S.A.

51

%

Warehousing

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, and Xiamen 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

Qingdao Oranda Supply Chain Management Co., Ltd. (“Oranda”)

JYD WLKJ

January 18, 2024

PRC

51

%

Freight forwarding

Shenzhen JNT International Logistics Co.,Ltd (“JNT”)

JYD WLKJ

January 18, 2024

PRC

51

%

Freight forwarding

 

F-6

 

 

JAYUD GLOBAL LOGISTICS LIMITED

NOTES TO INTERIM CONDENSED CONSOLIDATED FINANCIAL STATEMENTS

 

1. ORGANIZATION AND PRINCIPAL ACTIVITIES (Cont.)

 

(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 for share purchase from initial shareholders.

 

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. 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.

 

F-7

 

 

JAYUD GLOBAL LOGISTICS LIMITED

NOTES TO INTERIM CONDENSED CONSOLIDATED FINANCIAL STATEMENTS

 

2. SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES

 

(a) Basis of presentation

 

The accompanying interim condensed consolidated financial statements have been prepared in accordance with accounting principles generally accepted in the United States of America (“U.S. GAAP”) and pursuant to the rules and regulations of the Securities Exchange Commission (the “SEC”) and have been consistently applied. Certain information or footnote disclosures normally included in financial statements prepared in accordance with GAAP have been condensed or omitted, pursuant to the rules and regulations of the SEC for interim financial reporting. Accordingly, they do not include all the information and footnotes necessary for a comprehensive presentation of financial position, results of operations, or cash flows and should be read in conjunction with the Company’s consolidated financial statements as of December 31, 2022 and 2023. In the opinion of management, the accompanying interim condensed consolidated financial statements include all adjustments, consisting of a normal recurring nature, which are necessary for a fair presentation of the financial position, operating results, and cash flows for the periods presented. Operating results for the interim period ended June 30, 2024 are not necessarily indicative of the results that may be expected for the fiscal year ending December 31, 2023.

 

(b) Principles of consolidation

 

The interim condensed 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 interim condensed 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 interim condensed consolidated financial statements.

 

(d) Foreign currencies and foreign currency translation

 

The reporting currency of the Group is Renminbi (“RMB”). The financial statements of non-PRC 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. Monetary 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.

 

F-8

 

 

JAYUD GLOBAL LOGISTICS LIMITED

NOTES TO INTERIM CONDENSED CONSOLIDATED FINANCIAL STATEMENTS

 

2. SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Cont.)

 

(d) Foreign currencies and foreign currency translation (cont.)

 

Translation adjustments arising from these are reported as foreign currency translation adjustments of RMB 2,452,762 and RMB 1,329,500 (US$ 186,549) for the six months ended June 30, 2023 and 2024, respectively and are shown as a separate component of shareholders’ equity on the interim condensed consolidated financial statement. The following table outlines the currency exchange rates that were used in preparing the interim condensed consolidated financial statements, representing the index rates stipulated by the Bank of China:

 

HKD against RMB		June 30, 2023		December 31, 2023		June 30, 2024
Year-end spot rate		HKD1=RMB0.9207		HKD1=RMB0.9056		HKD1=RMB0.9126
Average rate		HKD1=RMB0.8883		HKD1=RMB0.8999		HKD1=RMB0.9084

 

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 loss of RMB 974,371 and RMB 464,790 (US$ 65,217) for the six months ended June 30, 2023 and 2024, respectively, as a result of changes in the exchange rate.

 

(e) Convenience translation

 

The United States dollar (“US$”) amounts disclosed in the accompanying interim condensed financial statements are presented solely for the convenience of the readers. Translations of amounts from RMB into US$ for the convenience of the reader were calculated at the rate of US$ 1.00=RMB 7.1268 on June 30, 2024, representing the middle rate as set forth in the statistical release of the Bank of China as of June 30, 2024. 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.

 

F-9

 

 

JAYUD GLOBAL LOGISTICS LIMITED

NOTES TO INTERIM CONDENSED CONSOLIDATED FINANCIAL STATEMENTS

 

2. SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Cont.)

 

(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, 2023 and June 30, 2024, balances of cash were RMB 26,103,076 and RMB 21,076,691 (US$ 2,957,385), respectively. Out of the total cash balances, RMB 3,142,124 and RMB 3,076,631 (US$ 431,699) are dominated in currencies other than RMB as of December 31, 2023 and June 30, 2024, 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 RMB 500,000 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, RMB 501,952 (US$ 70,432) was released from all restrictions, which consisted of principal of RMB 500,000 (US$ 70,158) and accumulated interests of RMB 1,952 (US$ 274).

 

(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.

 

Accounts receivable are recorded at the invoiced amount less an allowance for any uncollectible accounts and do not bear interest, and are due on demand. The carrying value of accounts receivable is reduced by an allowance that reflects the Company’s best estimate of the amounts that will not be collected. An allowance for credit losses is recorded in the period when a loss is probable based on an assessment of specific evidence indicating collection is unlikely, historical bad debt rates, accounts aging, financial conditions of the customer and industry trends. Starting from April 1, 2023, the Group adopted ASU No.2016-13 “Financial Instruments – Credit Losses (Topic 326): Measurement of Credit Losses on Financial Instruments” (“ASC Topic 326”). Management also periodically evaluates individual customer’s financial condition, credit history, and the current economic conditions to make adjustments in the allowance when it is considered necessary. Account balances are charged off against the allowance after all means of collection have been exhausted and the potential for recovery is considered remote. The Group’s management continues to evaluate the reasonableness of the valuation allowance policy and update it if necessary. As of December 31, 2023 and June 30, 2024, the Group record allowance for credit loss of RMB 10,196,104 and RMB 8,141,968 (US$ 1,142,444 ) against accounts receivable, respectively. 

 

F-10

 

 

JAYUD GLOBAL LOGISTICS LIMITED

NOTES TO INTERIM CONDENSED CONSOLIDATED FINANCIAL STATEMENTS

 

2. SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Cont.)

 

(i) 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 six months ended June 30, 2024, 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 June 30, 2024, the Group’s property and equipment and ROU assets mainly included machinery, equipment, vehicles, leasehold improvement and operating office and warehouse leases. For the six months ended June 30, 2024, the Group recognized an impairment charge of RMB 396,850 (US$ 55,684) against the property and equipment, RMB 567,017 (US$ 79,561) against the intangible assets for the amount by which the carrying value of the asset group’s long-lived assets exceeded their estimated fair value.

 

(j) Fair value measurement

 

The Group applies ASC 820, Fair Value Measurements and Disclosures, (“ASC 820’’). ASC 820 defines fair value, establishes a framework for measuring fair value and expands disclosures about fair value measurements. ASC 820 requires disclosures to be provided on fair value measurement.

 

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, 2023 and June 30, 2024, 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.

 

F-11

 

 

JAYUD GLOBAL LOGISTICS LIMITED

NOTES TO INTERIM CONDENSED CONSOLIDATED FINANCIAL STATEMENTS

 

2. SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Cont.)

 

(k) 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 six months ended June 30, 2023 and 2024, respectively: 

 

		Six months ended June 30, 2023								Six months ended June 30, 2024
Revenue Categories		(RMB)				%				(RMB)				(US$)				%
Type A: Freight forwarding services			166,394,282				98.2	%			163,343,874				22,919,666				60.3	%
- Integrated cross-border logistics			110,622,640				65.3	%			100,212,026				14,061,293				37.0	%
- Fragmented logistics			37,106,900				21.9	%			56,784,271				7,967,709				21.0	%
- Chartered airline freight services			18,664,742				11.0	%			6,347,577				890,663				2.3	%
Type B: Supply chain management			1,292,197				0.8	%			105,500,404				14,803,335				39.0	%
- International trading in relation to supply chain management			1,290,954				0.8	%			105,499,754				14,803,243				39.0	%
- Agent services			1,243				0.0	%			650				92				0.0	%
Type C: Other services			1,798,774				1.0	%			1,763,231				247,409				0.7	%
- Customs brokerage			1,687,258				1.0	%			1,763,231				247,409				0.7	%
- Software development			111,516				0.0	%			-				-				0.0	%
Total			169,485,253				100.0	%			270,607,509				37,970,409				100.0	%

  

The following table presents revenue classified by timing of revenue recognition for the six months ended June 30, 2023 and 2024, respectively.

 

		Six months ended June 30, 2023				Six months ended June 30, 2024
		RMB				RMB				US$
Point in time			1,868,386				108,964,101				14,803,335
Over time			167,616,867				161,643,408				23,167,074
Total revenue			169,485,253				270,607,509				37,970,409

 

F-12

 

 

JAYUD GLOBAL LOGISTICS LIMITED

NOTES TO INTERIM CONDENSED CONSOLIDATED FINANCIAL STATEMENTS

 

2. SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Cont.)

 

(o) Revenue recognition (cont.)

 

Type A: Freight forwarding services

 

The Group primarily engages in freight forwarding services, including integrated cross-border logistics, fragmented logistics, and chartered airline freight services. Integrated cross-border logistics and fragmented logistics are indifferent in the revenue recognition analysis, but with different quotation process. Under these two types of freight forwarding 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. These two types of revenue are 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 chartered airline freight services, the Group provides a fixed volume or weight of space capacity on fixed-route air planes for customer transportation during the duration of the contract. The Company fulfills its performance obligation by transporting freights from the origin to the destination. The transaction price is fixed when the contract was signed by both parties, and there will be no variable consideration during transportation. This type of revenue is recognized in straight-line basis over the transit period. Generally, the airplane completes flight transportation service within one day or several hours.

 

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.

 

F-13

 

 

JAYUD GLOBAL LOGISTICS LIMITED

NOTES TO INTERIM CONDENSED CONSOLIDATED FINANCIAL STATEMENTS

 

2. SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Cont.)

 

(o) Revenue recognition (cont.)

 

Type B: Supply chain management (cont.)

 

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.

 

F-14

 

 

JAYUD GLOBAL LOGISTICS LIMITED

NOTES TO INTERIM CONDENSED CONSOLIDATED FINANCIAL STATEMENTS

 

2. SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Cont.)

 

(k) Revenue recognition (cont.)

 

Contract assets and liabilities (cont.)

 

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:

 

		For the six months ended June 30,
		2023				2024
		RMB				RMB				US$
Revenue recognized that was included in contract liabilities at the beginning of the reporting period:			1,989,310				4,777,398				670,343

 

Contract assets were RMB 2,023,221 and RMB 2,787,512 (US$ 391,131) as of December 31, 2023 and June 30, 2024, respectively. Contract liabilities related to advance payments from customers were RMB 4,777,398 and RMB 2,611,792 (US$ 366,475) as of December 31, 2023 and June 30, 2024, 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.

 

(l) 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.

 

(m) Financial expenses, net

 

Financial expenses, net mainly consist of (i) interest expenses, net, (ii) foreign exchange gain or loss, and (iii) bank charges. The Group incurred interest expenses, net of RMB 417,654 and RMB 1,252,481 (US$ 175,742) for the six months ended June 30, 2023 and 2024, respectively. The Group incurred foreign exchange loss of RMB 974,371 and RMB 464,790 (US$ 65,217) for the six months ended June 30, 2023 and 2024, respectively.

 

(n) Non-controlling interests

 

A non-controlling interest is recognized to reflect the portion of their equity which is not attributable, directly or indirectly, to the Group. Consolidated net income on the consolidated statements of income and comprehensive income includes the net income attributable to non-controlling interests. The cumulative results of operations attributable to non-controlling interests, are recorded as non-controlling interests on the Group’s consolidated balance sheets.  

 

(o) 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.

 

F-15

 

 

JAYUD GLOBAL LOGISTICS LIMITED

NOTES TO INTERIM CONDENSED CONSOLIDATED FINANCIAL STATEMENTS

 

2. SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Cont.)

 

(o) Leases (cont.)

 

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. Based on the Group’s assessment, no impairment charges against ROU is needed during the six months ended June 30, 2024.

 

(p) 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.

 

F-16

 

 

JAYUD GLOBAL LOGISTICS LIMITED

NOTES TO INTERIM CONDENSED CONSOLIDATED FINANCIAL STATEMENTS

 

2. SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Cont.)

 

(p) Income taxes (Cont.)

 

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, 2023 and June 30, 2024, 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 the six months ended June 30, 2023 and 2024.

 

(q) 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 six months ended June 30, 2023 and 2024.

 

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%.

 

F-17

 

 

JAYUD GLOBAL LOGISTICS LIMITED

NOTES TO INTERIM CONDENSED CONSOLIDATED FINANCIAL STATEMENTS

 

2. SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Cont.)

 

(r) 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, 2023 and June 30, 2024, there was no dilution impact.

 

(s) 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. The statutory reserve were RMB 502,941 and RMB 764,231 (US$ 107,233) as of December 31, 2023 and June 30, 2024, respectively.

 

(t) 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, 2023 and June 30, 2024, RMB 26,103,076 and RMB 21,076,691 (US$ 2,957,385) of the Group’s cash were on deposit at financial institutions in the PRC, respectively.

 

F-18

 

 

JAYUD GLOBAL LOGISTICS LIMITED

NOTES TO INTERIM CONDENSED CONSOLIDATED FINANCIAL STATEMENTS

 

2. SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Cont.)

 

(t) Concentration of risks (cont.)

 

Concentration of Credit Risks (cont.)

 

The Group has a concentration of its account receivables and revenues with specific customers. As of December 31, 2023, one customer accounted for 17.0% of accounts receivable. As of June 30, 2024, two customers accounted for 17.2% and 10.8% of accounts receivable, respectively. For the six months ended June 30, 2023, two customers accounted for approximately 10.9% and 10.8% of the total revenue, respectively. For the six months ended June 30, 2024, one customer accounted for approximately 10.1% of the total revenue.

 

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, 2023, three suppliers accounted for 20.0%, 14.6%,and 13.5% of the total accounts payable balance, respectively. As of June 30, 2024, two suppliers accounted for 28.9% and 13.7% of the total accounts payable balance. For the six months ended June 30, 2023, two suppliers accounted for 19.9% and 16.3% of the total purchases, respectively. For the six months ended June 30, 2024, two suppliers accounted for 21.2% and 11.7% 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.

 

(u) Recent accounting pronouncements

 

In November 2023, the FASB issued ASU No. 2023-07 (“ASU 2023-07”), Segment Reporting (Topic 280): Improvements to Reportable Segment Disclosures to improve reportable segment disclosure requirements, primarily through enhanced disclosures about significant segment expenses. ASU 2023-07 is effective for fiscal years beginning after December 15, 2023 on a retrospective basis. Early adoption is permitted. The Group expects the adoption of this ASU will not have a material effect on the interim condensed 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.

 

F-19

 

 

JAYUD GLOBAL LOGISTICS LIMITED

NOTES TO INTERIM CONDENSED CONSOLIDATED FINANCIAL STATEMENTS

 

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 Interim Condensed Consolidated Financial Statements were available to be issued.

 

The Group has incurred a net loss of RMB 19,314,134 (US$ 2,710,070) with negative operating flows of RMB 14,640,802 (US$ 2,054,333) for the six months ended June 30, 2024. As of June 30, 2024, there is net working capital deficit of RMB 29,314,020 (US$ 4,113,212) and accumulated deficit of RMB 95,650,425 (US$ 13,421,230). 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 interim condensed consolidated financial statements, the Group has approximately $16 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 and (6) seek for certain credit facilities. The Management plan can alleviate the substantial doubt of the Group’s ability to continue as a going concern.

 

In September 2024, the Group entered into Securities Purchase Agreements (the“Securities Purchase Agreement”) with two accredited investors (the“Purchasers”), pursuant to which the Company received net proceeds of US$ 800,000 in consideration of the issuance of Convertible Debentures (the “Debenture”) in the principal amount of US$ 800,000. These Debentures were converted into the Group’s Class A ordinary shares in October 2024.

 

In October 2024, the Group entered into Share Purchase Agreements (the “Purchase Agreements”) with certain accredited investors named therein (the“Purchasers”), pursuant to which the Company issued in a private placement an aggregate of 14,793,335 Class A ordinary shares to the Purchasers at a purchase price of US$ 0.45 per share. The Company received gross proceeds of US$ 6,657,000.

 

The accompanying interim condensed consolidated financial statements do not include any adjustments that might result from the outcome of this uncertainty. Accordingly, the interim condensed 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.

 

4. ACCOUNTS RECEIVABLE, NET

 

Accounts receivable consisted of the following:

 

		As of
		December 31,				June 30,
		2023				2024
		RMB				RMB				US$
Accounts receivable			51,478,092				54,958,198				7,711,483
Allowance for credit losses related to accounts receivable			(10,196,104	)			(8,141,968	)			(1,142,444	)
Total accounts receivable, net			41,281,988				46,816,230				6,569,039

 

F-20

 

 

JAYUD GLOBAL LOGISTICS LIMITED

NOTES TO INTERIM CONDENSED CONSOLIDATED FINANCIAL STATEMENTS

 

4. ACCOUNTS RECEIVABLE, NET (Cont.)

 

The movement of allowance of doubtful accounts is as follows:

 

		As of
		December 31,				June 30,
		2023				2024
		RMB				RMB				US$
Beginning balance			1,185,328				10,196,104				1,430,671
Addition			9,745,364				6,974,931				978,690
Write off			(406,566	)			(5,423	)			(761	)
Reverse			(328,022	)			(9,023,644	)			(1,266,156	)
Ending balance			10,196,104				8,141,968				1,142,444

 

The Group recorded bad debt expenses of RMB 952,603 and 6,974,931(US$ 978,690) for the six months ended June 30, 2023 and 2024, respectively. For the six months ended June 30, 2024, the Group had written off RMB 5,423 (US$ 761) in bad debt, and made reversal of bad debt of RMB 9,023,644 (US$ 1,266,156).

 

5. PREPAID EXPENSES AND OTHER CURRENT ASSETS, NET

 

Prepaid expenses and other current assets consisted of the following:

 

		As of
		December 31,				June 30,
		2023				2024
		RMB				RMB				US$
Advanced to suppliers (a)			1,602,310				2,056,858				288,609
Deposits (b)			9,644,591				8,943,059				1,254,849
Tax/expenses paid on behalf of clients			3,182,361				448,108				62,876
Loan & interest receivable (c)			3,845,273				4,163,442				584,196
Prepaid VAT and other taxes			2,770,436				2,628,647				368,840
Other receivables (d)			442,354				571,383				80,174
			21,487,325				18,811,497				2,639,544
Allowance for credit losses related to prepaid expenses and other current assets			(8,973,447	)			(9,185,409	)			(1,288,855	)
Total prepaid expenses and other receivables, net			12,513,878				9,626,088				1,350,689

 

(a)	The balance mainly represents the advance payments made chartered airlines freight services and rent.

 

(b)	The balance mainly represents the current operational deposits for lease and cargo space reservation to vendors.

 

(c)

The balance represents the principal and interests of the loan to Shenzhen Expecs Technology Co., Ltd. (“Expecs”). In May 2022, the Group entered into a term sheet with an intention to acquire Expecs of which core business is to offer services of inspection assistance for China Customs and customs brokerage. The Group prepaid RMB 3.6 million for the planned acquisition during 2022. In July 2023, the Group and Expecs signed a loan agreement and the prepayment became a one-year short term loan bearing an annual interest rate of 6%. In July 2024, the loan was extended for one more year due on June 30, 2025.   During the six months ended June 30, 2024, 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 RMB 4,050,273 (US$ 568,316) as of June 30, 2024.

 

(d)	The balance mainly represents the prepaid rent and some advances to employees for routine business or travel needs.

 

F-21

 

 

JAYUD GLOBAL LOGISTICS LIMITED
NOTES TO INTERIM CONDENSED CONSOLIDATED FINANCIAL STATEMENTS

 

5. PREPAID EXPENSES AND OTHER CURRENT ASSETS, NET (Cont.)

 

The movement of allowance of doubtful accounts is as follows:

 

		As of
		December 31,				June 30,
		2023				2024
		RMB				RMB				US$
Beginning balance			237,704				8,973,447				1,259,113
Addition			8,761,236				211,962				29,742
Write off			(25,493	)			-				-
Ending balance			8,973,447				9,185,409				1,288,855

 

The Group recorded bad debt expenses of nil and RMB 211,962 (US$ 29,742) for the the six months ended June 30, 2023 and 2024, respectively. For the six months ended June 30, 2023 and 2024, the Group had written off RMB 25,494 and nil in bad debt, respectively.

 

6. PROPERTY AND EQUIPMENT, NET

 

Property and equipment, net consisted of the following:

 

		As of
		December 31,				June 30,
		2023				2024
		RMB				RMB				US$
Motor vehicles			1,485,841				1,485,842				208,486
Electronic equipment			2,033,203				2,162,123				303,379
Machinery			1,139,270				1,238,049				173,717
Other equipment			1,413,753				1,413,753				198,371
Construction in progress			655,987				810,782				113,765
Subtotal			6,728,054				7,110,549				997,718
Less: accumulated depreciation			(3,200,069	)			(3,335,781	)			(468,060	)
			3,527,985				3,774,768				529,658
Less: impairment charges			(2,404,009	)			(2,800,859	)			(393,004	)
Property and equipment, net			1,123,976				973,909				136,654

 

Depreciation expense was RMB 383,238 and RMB 135,711 (US$ 19,042) for the six months ended June 30, 2023 and 2024, respectively. 

 

F-22

 

 

JAYUD GLOBAL LOGISTICS LIMITED
NOTES TO INTERIM CONDENSED CONSOLIDATED FINANCIAL STATEMENTS

 

6. PROPERTY AND EQUIPMENT, NET (Cont.)

 

During the six months ended June 30, 2024, 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 RMB 396,850 (US$ 55,684) 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 six months ended June 30, 2024. 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 six months ended June 30, 2023.

 

7. INTANGIBLE ASSETS, NET

 

Intangible assets, net consisted of the following:

 

		As of
		December 31,				June 30,
		2023				2024
		RMB				RMB				US$
Software			2,096,218				2,324,733				326,196
Less: accumulated depreciation			(101,350	)			(207,661	)			(29,138	)
			1,994,868				2,117,072				297,058
Less: impairment charges			-				(567,017	)			(79,561	)
Intangible assets, net			1,994,868				1,550,055				217,497

 

Amortization expense was RMB 112,930 and RMB 106,311 (US$ 14,917) for the six months ended June 30, 2023 and 2024, respectively.

 

During the six months ended June 30, 2024, 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 RMB 567,017 (US$ 79,561) against the intangible assets by the amount by which the carrying value of the asset group’s long-lived assets exceeded their estimated fair value for the six months ended June 30, 2024. 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 six months ended June 30, 2023.

 

F-23

 

 

JAYUD GLOBAL LOGISTICS LIMITED
NOTES TO INTERIM CONDENSED CONSOLIDATED FINANCIAL STATEMENTS

 

8. 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,				June 30,
		2023				2024
		RMB				RMB				US$
Bank of China Shenzhen Nantou Branch (a)			6,300,000				-				-
Industrial and Commercial Bank of China (b)			3,000,000				6,000,000				841,892
Shenzhen Futian Yinzuo Rural Bank(c)			1,559,968				994,194				139,501
Bank of China Shenzhen Dongbu Branch (d)			5,000,000				4,400,000				617,389
Bank of China Shenzhen Dongbu Branch (e)			3,000,000				3,000,000				420,946
Bank of Ningbo (f)			6,743,530				7,042,697				988,199
Total			25,603,498				21,436,891				3,007,927

 

(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 RMB 5,000,000(US$ 701,577) with one-year term with an interest rate of 4.1%. On May 9, 2023, JYD WLKJ entered into another working capital loan agreement with Bank of China Shenzhen Nantou Branch in the total amount of RMB 2,000,000(US$ 280,631) with one-year term with an interest rate of 3.8%. The loan was guaranteed by Shenzhen Gaoxintou SE Financing Guarantee Co., LTD and shareholders of the Group (Xiaogang Geng and Xiaohua Jia). As of December 31, 2023, RMB 700,000(US$ 98,221) was repaid, and total amount of RMB 6,300,000(US$ 883,987) was outstanding for these two loans. During the six months ended June 30, 2024, the total outstanding loan was fully repaid when it was due.

 

(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 RMB 3,000,000 (US$ 420,946) with a half-year term with an interest rate of 4.65%. The loan was renewed every six month. In March 2024, the term of the loan was extended to one year, due in March 2025. The interests on the loan was 3.45%. In June 2024, JYD DS entered into a series of loan agreements with Industrial and Commercial Bank of China in the total amount of RMB 3,000,000 (US$ 420,946) with an interest rate of 3.45%. These loans are all due on May 31, 2025.

 

(c)

On June 27, 2022, JYD WLKJ entered into a loan agreement with Shenzhen Futian Yinzuo Rural Bank in the total amount of RMB 2,000,000 (US$ 280,631) 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 RMB 2,000,000 (US$ 280,631) with an interest rate of 10.512% with one-year term. As of December 31, 2023, RMB 440,032 (US$ 61,743) was repaid, and RMB 1,559,968 (US$ 218,888) was outstanding. As of June 30, 2024, RMB 565,774 (US$ 79,387) was repaid, and RMB 994,194 (US$ 139,501) was outstanding. In July 2024, the loan was fully repaid when it was due.

 

(d)

On November 22, 2023, JYD HQ entered into a one-year maturity loan agreement with Bank of China Shenzhen Dongbu Branch in the total amount of RMB 5,000,000(US$ 701,577) with an interest rate of 3.6%. The loan was guaranteed by Shenzhen SME Financing Guarantee Co., LTD. and shareholders of the Group (Xiaogang Geng and Xiaohua Jia). As of June 30, 2024, RMB 600,000 (US$ 84,189) was repaid, and RMB 4,400,000 (US$ 617,389) was outstanding.

 

(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 RMB 3,000,000(US$ 420,946) with an interest rate of 3.75%. In October 2024, the loan was fully repaid when it was due.

 

F-24

 

 

JAYUD GLOBAL LOGISTICS LIMITED
NOTES TO INTERIM CONDENSED CONSOLIDATED FINANCIAL STATEMENTS

 

8. SHORT-TERM BORROWINGS (Cont.)

 

(f)

On November 8, 2023, JYD NJWL entered into a one-year revolving credit agreement with Bank of Ningbo with the maximum amount of USD1,000,000 with an interest rate of 6.5%. The loan was guaranteed by JYD WLKJ. RMB 6,743,530 (US$ 946,221) was the loan balance as of December 31, 2023. During the six months ended June 30, 2024, RMB 11,743,710 (US$ 1,647,824) was withdrawn and RMB 11,444,543 (US$ 1,605,846) was repaid. As of June 30, 2024, RMB 7,042,697 (US$ 988,199) was outstanding. The loan was fully repaid when it is due in November 2024.

 

Interest expenses were RMB 191,599 and RMB 512,153 (US 71,863) for short-term borrowings for the six months ended June 30, 2023 and 2024, respectively. 

 

9. LOANS PAYABLE - A THIRD PARTY

 

On December 13, 2023, the Company borrowed a loan from Boknap Logistics(HK) Ltd. of RMB 2,833,080 (USD 400,000) for 18 months with interest rate of 6%. The loan was classified as long term debt as of December 31, 2023 and as short term debt as of June 30, 2024. As of June 30, 2024, principal of RMB 2,829,023 (US$ 396,956) and accumulated interests of RMB 115,633 (US$ 16,225) were outstanding. In October 2024, RMB 2,138,040 (US$ 300,000) was repaid.

 

10. ACCRUED EXPENSES AND OTHER CURRENT LIABILITIES

 

		As of
		December 31,				June 30,
		2023				2024
		RMB				RMB				US$
Accrued payroll and employee benefits			3,416,836				4,038,505				566,665
Payable to third parties (a)			1,818,200				7,280,590				1,021,579
Deposit payable			2,017,770				1,574,810				220,970
Others			233,075				543,937				76,323
Total			7,485,881				13,437,842				1,885,537

 

(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, 2023 and June 30, 2024.

 

11. LEASES

 

Supplemental balance sheet information related to operating lease was as follows:

 

		As of
		December 31,				June 30,
		2023				2024
		RMB				RMB				US$
Right-of-use assets			12,237,211				6,414,655				900,075
Less: impairment			(3,244,676	)			(2,729,651	)			(383,012	)
Right-of-use assets			8,992,535				3,685,004				517,063
Operating lease liabilities – current			8,806,671				5,067,633				711,067
Operating lease liabilities – non-current			5,216,622				2,268,683				318,331
Total operating lease liabilities			14,023,293				7,336,316				1,029,398

 

F-25

 

 

JAYUD GLOBAL LOGISTICS LIMITED
NOTES TO INTERIM CONDENSED CONSOLIDATED FINANCIAL STATEMENTS

 

11. LEASES (Cont.)

 

The weighted average remaining lease terms and discount rates for the operating lease as of June 30, 2024 were as follows:

 

Remaining lease term and discount rate:
Weighted average remaining lease term (years)			2.57
Weighted average discount rate			4.2	%

 

A summary of lease expenses recognized in the consolidated statements of operations as of June 30, 2024 and supplemental cash flow information related to operating leases were as follows:

 

		As of
		December 31,				June 30,
		2023				2024
		RMB				RMB				US$
Lease expense
Operating lease expense - third party			10,148,284				2,058,621				288,856
Short-term lease expense			15,056,781				7,615,047				1,068,509
Sublease income (1)			(707,009	)			(3,056,058	)			(428,812	)
Total lease expense			24,498,055				6,617,610				928,553
Other information
Cash paid for operating leases			8,543,549				3,003,868				421,489
Right-of-use assets obtained in exchange for operating new lease liabilities			15,838,886				5,229,722				733,811

 

* (1)

For the six months ended June 30, 2024, the Group incurred sublease income of RMB 3,056,058 (US$ 428,812), and sublease cost of RMB 2,913,502 (US$ 408,809).

 

During the six months ended June 30, 2023 and 2024, the Group incurred total operating lease expenses of RMB 2,432,398 and RMB 6,617,610 (US$ 928,553), respectively.

 

The following is a schedule of future minimum payments under the Group’s operating leases as of June 30, 2024:

 

Year		Amounts
		RMB				US$
Remainder of 2024			2,989,195				419,430
2025			2,613,699				366,742
2026			695,993				97,659
2027			535,095				75,082
2028			330,827				46,420
Thereafter			578,078				81,113
Total lease payments			7,742,886				1,086,446
Less: imputed interest			406,570				57,048
Total operating lease liabilities, net of interest			7,336,316				1,029,398

 

F-26

 

 

JAYUD GLOBAL LOGISTICS LIMITED
NOTES TO INTERIM CONDENSED CONSOLIDATED FINANCIAL STATEMENTS

 

11. LEASES (Cont.)

 

The Company recognized a lease termination loss of RMB 1,197,921 and RMB 310,673 (US$ 43,592), which is included in Lease termination loss on the Interim Condensed Consolidated Statement of Operations and Comprehensive Income / (Loss) for the six months ended June 30, 2023 and 2024, respectively, related to the early termination of warehouse.

 

12. LONG-TERM BORROWING

 

On December 23, 2022, JYD SM entered into a loan agreement with Postal Savings Bank of China in the total amount of RMB 5,000,000(US$ 701,577) 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, RMB 50,000(US$ 7,016) will be paid monthly starting from January 2023 until December 2024, and remaining balance of RMB 3,800,000 (US$ 533,199) will be paid at the end of the loan term. As of December 31, 2023, RMB 600,000 (US$ 84,189) was repaid, and RMB 4,400,000 (US$ 617,388) was outstanding and reclassed to current liability as current maturities of long-term borrowing. As of June 30, 2024, RMB 4,100,000 (US$ 575,293) was outstanding.

 

Interest expenses were RMB 96,239 and RMB 90,188 (US 12,655) for long-term borrowings for the six months ended June 30, 2023 and 2024, respectively. 

 

13. 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 HKD 2 million of assessable profits will be lowered to 8.25% (half of the rate specified in Schedule 8 to the Inland Revenue Ordinance (IRO)) for corporations. The Group was not subject to Hong Kong profit tax for any period presented as it did not have assessable profit during the periods presented.

 

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, 2023, JYD SZGJHY, JYD SM, JYD XC, JYD BG, JYD XYX, JYD NJWL, JYD DS, JYD SHWL, JYD YCKJ, were recognized as small low-profit enterprises, and JYD WLKJ and JYD RHTD was recognized as a general taxpayer whose applicable tax rate is 25.0%. For the six months ended June 30, 2024, Oranda and JNT, two newly acquired subsidiaries, were recognized as small low-profit enterprises. Entities with annual taxable income exceeding RMB 3,000,000, total assets exceeding RMB 50,000,000, and their number of employees exceeding 300 are considered general taxpayer. 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 six months ended June 30,
		2023				2024
		RMB				RMB				US$
Current income tax (benefit) / expenses			(97,584	)			253,886				35,624
Deferred income tax expense / (benefit)			133,923				(926,279	)			(129,971	)
Total income tax expenses / (benefit)			36,339				(672,393	)			(94,347	)

 

F-27

 

 

JAYUD GLOBAL LOGISTICS LIMITED
NOTES TO INTERIM CONDENSED CONSOLIDATED FINANCIAL STATEMENTS

 

13. TAXATION (Cont.)

  

PRC

 

		For the six months ended June 30,
		2023				2024
		RMB				RMB				US$
Loss before provision for income taxes is attributable to the following geographic locations:
PRC			(23,476,531	)			(17,599,574	)			(2,469,491	)
Foreign			(2,715,165	)			(2,386,953	)			(334,926	)
Total Loss before Income Taxes			(26,191,696	)			(19,986,527	)			(2,804,417	)

 

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 six months ended June 30,
		2023				2024
PRC statutory income tax rate			25.0	%			25.0	%
Impact of different tax rates in other jurisdictions			(1.8	)%			(3.1	)%
Effect of preferential tax rate			(7.2	)%			(10.4	)%
Non-deductible items			0.2	%			1.4	%
Effect of additional R&D deduction			1.3	%			0.0	%
Tax effect on deferred offering costs			1.8	%			0.0	%
Change in valuation allowance			(19.4	)%			(9.5	)%
Effective tax rate			(0.1	)%			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, 2023 and June 30, 2024, the significant components of the deferred tax assets and deferred tax liability were summarized below:

 

		As of
		December 31, 2023				June 30, 2024
		RMB				RMB				US$
Deferred tax assets:
Net operating loss carried forward			10,843,551				27,376,264				3,841,312
Bad debt provision			3,801,660				1,293,365				181,479
Impairment charges			963,398				93,178				13,074
Lease liability			818,974				(98,254	)			(13,787	)
Less: Valuation allowance			(12,738,069	)			(23,834,998	)			(3,344,417	)
Deferred tax assets, net of valuation allowance			3,689,514				4,829,555				677,661

 

F-28

 

 

JAYUD GLOBAL LOGISTICS LIMITED
NOTES TO INTERIM CONDENSED CONSOLIDATED FINANCIAL STATEMENTS

 

13. TAXATION (Cont.)

 

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,				June 30,
		2023				2024
		RMB				RMB				US$
Deferred tax liabilities:
Right of use assets			(760,806	)			(980,166	)			(137,530	)
Total deferred tax liabilities			(760,806	)			(980,166	)			(137,530	)

 

As of June 30, 2024, net operating loss carry forward will expire, if unused, in the following amounts:

 

		Amounts
Remained of 2024			2,851,618
2025			27,602
2026			11,930,662
2027			56,480,637
2028			-
2029			24,341,521
			95,632,039

 

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, 2023 and June 30, 2024, 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, 2023				June 30, 2024
		RMB				RMB				US$
Income tax payable			163,527				241,256				33,851
VAT and other taxes payable			349,670				676,472				94,920
Total taxes payable			513,197				917,728				128,771

 

F-29

 

 

JAYUD GLOBAL LOGISTICS LIMITED
NOTES TO INTERIM CONDENSED CONSOLIDATED FINANCIAL STATEMENTS

 

14. 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 consideration if the Company fails to achieve a successful IPO.

 

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 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.

 

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, 2023 and June 30, 2024, 14,942,623 Class A Ordinary shares were issued and outstanding; 6,409,600 Class B Ordinary shares were issued and outstanding.

 

F-30

 

 

JAYUD GLOBAL LOGISTICS LIMITED
NOTES TO INTERIM CONDENSED CONSOLIDATED FINANCIAL STATEMENTS

 

14. EQUITY (Cont.)

 

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 RMB 360,874 (US$ 50,591).

 

Capital injection by non-controlling shareholder

 

In September 2023, the non-controlling shareholder of JYD RHTD made a capital injection of RMB 2,450,000 (US$ 343,773) to JYD RHTD. 

 

In January 2024, the non-controlling shareholder of Oranda made a capital injection of RMB 20,000 (US$ 2,806) to Oranda.

 

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$ 2,633,721). Out of the total dividend declared, RMB 6,839,000 (US$ 959,617) was inter-group dividend, and RMB 11,931,000 (US$ 1,674,103) was to individual shareholders. As of December 31, 2023 and June 30, 2024, RMB 6,937,500 (US$ 973,438) was outstanding and included in the other payables to shareholders.
 

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 June 30, 2024, 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 RMB 6.4 million (US$ 0.8 million), respectively.

 

15. NON-CONTROLLING INTERESTS

 

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.

 

In January 2024, the Group acquired a 51% equity interest of Qingdao Oranda Supply Chain Management Co., Ltd. (“Oranda”) and 51% equity interest of Shenzhen Jiniu International Logistics Co., Ltd. (“JNT”). Since the Group retains control of Oranda and JNT, the investment from Mr. Ke Zhu of Oranda and Mr. Guojun Niu of JNT were accounted for as non-controlling interests.

 

F-31

 

 

JAYUD GLOBAL LOGISTICS LIMITED
NOTES TO INTERIM CONDENSED CONSOLIDATED FINANCIAL STATEMENTS

 

15. NON-CONTROLLING INTERESTS (Cont.)

 

In April 2024, the Group and Mr. Guojun Niu acquired a 51% and 49% equity interest of HK (FASTFLY) International Logistics Co., Limited (“FASTFLY”), respectively. Since the Group retains control of FASTLY, the investment from Mr. Guojun Niu was accounted for as non-controlling interest.

 

In May 2024, JYD US acquired a 51% equity interest of HYTX Warehouse Inc. (“HYTX”). Since the Group retains control of HYTX, the investment from HYTX INC was accounted for as non-controlling interest.

 

As of December 31, 2023 and June 30, 2024, the balance of non-controlling interest is as following. 

 

Entity		As of December 31, 2023				As of June 30, 2024
		RMB				RMB				US$
TYPHK			(164,700	)			(168,873	)			(23,695	)
JYD SHWL			(1,434,739	)			(1,439,448	)			(201,977	)
JYD YCKJ			(9,304,266	)			(11,941,229	)			(1,675,539	)
JYD RHTD			3,277,031				5,069,176				711,284
JNT			-				(94,678	)			(13,285	)
FASTFLY			-				(7,334	)			(1,029	)
Oranda			-				(448,714	)			(62,961	)
HYTX			-				(22,797	)			(3,199	)
Total			(7,676,674	)			(9,053,897	)			(1,270,401	)

 

16. RELATED PARTY BALANCES AND TRANSACTIONS

 

Accounts receivable - related parties

 

As of December 31, 2023 and June 30, 2024, accounts receivable from a related party consisted of the following:

 

Name

Relationship

Nature

As of December 31, 2023

As of June 30, 2024

RMB

RMB

US$

Shenzhen Oranda Global Logistics Limited

80% shares owned by Oranda’s 49% interest minor shareholder

Logistic services

-

86,628

12,155

Xi’an Renrui Hydroacoustic Technology Engineering Co., Ltd (“Renrui”)

40% owned by Bin Li

International trading

-

173,382

24,328

-

260,010

36,483

 

F-32

 

 

JAYUD GLOBAL LOGISTICS LIMITED
NOTES TO INTERIM CONDENSED CONSOLIDATED FINANCIAL STATEMENTS

 

16. RELATED PARTY BALANCES AND TRANSACTIONS (Cont.)

 

Other receivable - related parties

 

As of December 31, 2023 and June 30, 2024, other receivable from related parties consisted of the following:

 

Name

Relationship

Nature

As of December 31, 2023

As of June 30, 2024

RMB

RMB

US$

Winpass Logistics (HK) Co., Limited (“Winpass”)

100% controlled by Xiaohua Jia

Net collection on behalf of the Group

125,049

385,563

54,100

Shenzhen Zhongshun Jiean Estate Management Co., Ltd

90% owned by Bao BingBing, management of JYD NJWL

Rent deposit

39,809

-

-

164,858

385,563

54,100

 

For the six months ended June 30, 2023, Winpass paid on behalf of Jayud for logistics services acquired abroad in a total amount of RMB 843,730 and collected on behalf of Jayud for logistics services provided abroad in a total amount of RMB 1,137,283. For the six months ended June 30, 2024, Winpass paid on behalf of Jayud for logistics services acquired abroad in a total amount of RMB 1,468,748 (US$ 206,088) and collected on behalf of Jayud for logistics services provided abroad in a total amount of RMB 1,729,262 (US$ 242,642).

 

Accounts payable - related parties

 

As of December 31, 2023 and June 30, 2024, accounts payable to related parties consisted of the following:

 

Name		Relationship		Nature		As of December 31, 2023				As of June 30, 2024
						RMB				RMB				US$
Winpass Logistics (HK) Co., Limited		100% controlled by Xiaohua Jia		Logistic services			418,266				540,015				75,772
Cargo Link Logistics HK Company Limited		Owns 33% of shares of Sky Pacific Logistics HK Company Limited		Logistic services			6,248,192				17,109,198				2,400,685
HYTX Logistics LLC		100% shares owned by HYTX’s 49% interest minor shareholder		Logistic services			-				282,463				39,634
Shenzhen Oranda Global Logistics Limited		80% shares owned by Oranda’s 49% interest minor shareholder		Logistic services			-				50,880				7,139
Shenzhen Huanshi Chuangyuan Technology Limited		70% shares owned by Oranda’s 49% interest minor shareholder		Logistic services			-				226,615				31,798
Tianjin Oranda Global Logistics Limited		20% shares owned by Oranda’s 49% interest minor shareholder		Logistic services			-				32,066				4,499
							6,666,458				18,241,237				2,559,527

 

F-33

 

 

JAYUD GLOBAL LOGISTICS LIMITED
NOTES TO INTERIM CONDENSED CONSOLIDATED FINANCIAL STATEMENTS

 

16. RELATED PARTY BALANCES AND TRANSACTIONS (Cont.)

 

Loans payable - a related party

 

As of December 31, 2023 and June 30, 2024, loan payable to a related party consisted of the following:

 

Name

Relationship

Nature

As of December 31, 2023

As of June 30, 2024

RMB

RMB

US$

Xi’an Renrui Hydroacoustic Technology Engineering Co., Ltd (“Renrui”)

40% owned by Bin Li

Loan

3,000,000

2,000,000

280,631

3,000,000

2,000,000

280,631

 

On November 15, 2023, Jayud borrowed a short-term loan from Renrui of RMB 3,000,000 (US$ 420,946) with interest of RMB 30,000 (US$ 4,209) . The principle and interests were fully repaid in January 2024. In April 2024, the Group borrowed a loan of RMB 3,000,000 (US$ 420,946) from Renrui with an interest rate of 6%. The loan is due in September 2025. As of June 30, 2024, principal of RMB 1,000,000 (US$ 140,315) was repaid and RMB 2,000,000 (US$ 280,631) was outstanding. The interest expense on the loan was RMB 47,193 (US$ 6,622) for the six months ended June 30, 2024. In September 2024, RMB 500,000 (US$ 70,158) was repaid to Renrui.

 

Other payable - related parties

 

As of December 31, 2023 and June 30, 2024, other payable to related parties consisted of the following:

 

Name		Relationship		Nature		As of December 31, 2023				As of June 30, 2024
						RMB				RMB				US$
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)			686,609				696,712				97,759
Bin Li		Management of JYD SXGYL		Interest Payable (b)			30,000				-				-
Xi’an Renrui Hydroacoustic Technology Engineering Co., Ltd (“Renrui”)		40% owned by Bin Li		Interest Payable (b)			24,643				41,836				5,870
Shenzhen Zhongshun Jiean Estate Management Co., Ltd (“Zhongshun”)		90% owned by BingBing Bao, management of JYD NJWL		Rent payable (c)			7,775,393				-				-
							8,516,645				738,548				103,630

 

(a)	For the six months ended June 30, 2023 and 2024, Cargo Link paid on behalf of Jayud in a total amount of RMB 25,978 and RMB 5,255 (US$ 737), respectively.

 

(b)

On November 15, 2023, the Group borrowed short-term loans from Li Bin and Renrui each of RMB 3,000,000 (US$ 420,946), with loan term of 20 days and 55 days, respectively. Interest was RMB 30,000 for each loan. The principal of RMB 3,000,000 (USD 423,567) from Li Bin was fully repaid in December 2023, and the interest was repaid in January 2024. The balance of RMB 41,836 (US$ 5,870) with Renrui represents the interest payable on the new loan of RMB 3,000,000 (US$ 420,946) borrowed in April 2024.

 

(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 RMB 7,775,393 (US$ 1,097,801) was outstanding. During the six months ended June 30, 2024, Bao BingBing resigned as management of JYD NJWL. Therefore, Shenzhen Zhongshun Jiean Estate Management Co., Ltd was not related party of the Group as of June 30, 2024.

 

F-34

 

 

JAYUD GLOBAL LOGISTICS LIMITED
NOTES TO INTERIM CONDENSED CONSOLIDATED FINANCIAL STATEMENTS

 

16. RELATED PARTY BALANCES AND TRANSACTIONS (Cont.)

 

Other payable – shareholders

 

As of December 31, 2023 and June 30, 2024, other payable to shareholders consisted of the following: 

 

Name

Relationship

Nature

As of December 31, 2023

As of June 30, 2024

RMB

RMB

US$

Xiaogang Geng

Shareholder and CEO

Interest of shareholder loan

16,465

-

-

Qing Wang

Shareholder

Business Reimbursement Payable

20,564

18,013

2,527

37,029

18,013

2,527

 

Loans payable – shareholders

 

As of December 31, 2023 and June 30, 2024, loans payable to shareholders consisted of the following: 

 

Name		Relationship		Nature		As of December 31, 2023				As of June 30, 2024
						RMB				RMB				US$
Huang Jianhong		Shareholder and COO		Loan			-				4,337,897				608,674
Jia Xiaohua		Shareholder		Loan			-				3,667,090				514,549
Peng ZhongLiang		Shareholder		Loan			-				1,002,630				140,684
Wang Qing		Shareholder		Loan			-				305,918				42,925
Yi Yu		Shareholder		Loan			-				6,145,241				862,272
Xiaogang Geng		Shareholder and CEO		Loan			823,265				876,792				123,027
							823,265				16,335,567				2,292,132

 

In August 2023, the Group borrowed a total amount of RMB 823,265 (US$ 116,236) with 6% interests from Xiaogang Geng. The loan is due in August 2025. During the six months ended June 30, 2024, the Group borrowed a total amount of RMB 15,165,895 (US$ 2,128,009) with 6% interests from six shareholders of the Group with 14~19 months terms. The interest expense on these loans was RMB 346,407 (USD$48,606) during the six months ended June 30, 2024. In October 2024, the Group repaid RMB 828,391 (US$ 116,236) to Xiaogang Geng and RMB 2,614,110 (US$ 366,800) to Xiaohua Jia.

 

Other payable – shareholders - non-current

 

As of December 31, 2023 and June 30, 2024, other payable to shareholders consisted of the following:

 

Name

Relationship

Nature

As of December 31, 2023

As of June 30, 2024

RMB

RMB

US$

Xiaogang Geng

Shareholder and CEO

Dividend

6,225,000

6,225,000

873,464

Xiaohua Jia

Shareholder

Dividend

712,500

712,500

99,975

6,937,500

6,937,500

973,438

 

F-35

 

 

JAYUD GLOBAL LOGISTICS LIMITED
NOTES TO INTERIM CONDENSED CONSOLIDATED FINANCIAL STATEMENTS

 

16. RELATED PARTY BALANCES AND TRANSACTIONS (Cont.)

 

Shareholder transaction

 

For the six months ended June 30, 2023 and 2024, the Group had the following material shareholder transaction:

 

				For the six months ended June 30,
Shareholder		Nature		2023				2024
				RMB				RMB				US$
Xiaogang Geng		Interest expenses of a loan			-				48,401				6,791
Xiaohua Jia		Interest expenses of a loan			-				44,121				6,191
Jianhong Huang		Interest expenses of a loan			-				137,897				19,349
ZhongLiang Peng		Interest expenses of a loan			-				2,630				369
Qing Wang		Interest expenses of a loan			-				5,918				830
Yu Yi		Interest expenses of a loan			-				107,440				15,076

 

Related party transactions

 

For the six months ended June 30, 2023 and 2024, the Group had the following material related party transactions:

 

				For the six months ended June 30,
Related Parties		Nature		2023				2024
				RMB				RMB				US$
Winpass Logistics (HK) Co., Limited		Purchase of logistic services			227,198				241,479				33,883
Cargo Link Logistics HK Company Limited		Purchase of logistic services			34,006,130				31,986,207				4,488,158
HYTX Logistics LLC		Purchase of logistic services			-				319,460				44,825
Shandong Oranda Logistics Co., Ltd		Purchase of logistic services			-				21,946				3,079
Shenzhen Oranda Global Logistics Limited		Purchase of logistic services			-				264,989				37,182
Shenzhen Huanshi Chuangyuan Technology Limited		Purchase of logistic services			-				264,195				37,071
Tianjin Oranda Global Logistics Limited		Purchase of logistic services			-				31,813				4,464
Shandong Oranda Logistics Co., Ltd		Provided logistic services			-				58,070				8,148
Shenzhen Oranda Global Logistics Limited		Provided logistic services			-				265,190				37,210
Shenzhen Huanshi Chuangyuan Technology Limited		Provided logistic services			-				286,352				40,180
Shenzhen Feijia Supply Chain Management Co., Ltd		Provided logistic services			211,684				-				-
Shenzhen Feijia Supply Chain Management Co., Ltd		Purchase of equipment			122,500				-				-
Xi’an Renrui Hydroacoustic Technology Engineering Co., Ltd		Sales of goods			-				641,316				89,987

 

 

F-36

 

 

JAYUD GLOBAL LOGISTICS LIMITED
NOTES TO INTERIM CONDENSED CONSOLIDATED FINANCIAL STATEMENTS

 

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, 2023 and June 30,2024.

 

		As of December 31, 2023								As of June 30, 2024
Customer		Amount				% of Total				Amount				% of Total				Amount
		RMB				%				RMB				%				US$
A			7,025,390				17.0	%			5,100,276				10.8	%			715,647
B			*				*				8,077,588				17.2	%			1,133,410

 

*	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 six months ended June 30, 2023 and 2024.

 

For the six months ended June 30,

For the six months ended June 30,

2023

2024

Customer

Amount

% of Total

Amount

% of Total

Amount

RMB

RMB

US$

C

*

*

27,351,614

10.11

%

3,837,853

B

18,481,371

10.9

%

*

*

*

A

18,347,072

10.8

%

*

*

*

 

*	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, 2023 and June 30,2024.

 

		As of								As of
		December 31, 2023								June 30, 2024
Supplier		Amount				% of Total				Amount				% of Total				Amount
		RMB								RMB				%				US$
Cargo Link Logistics HK Company Limited			6,248,193				13.5	%			17,024,215				28.9	%			2,388,760
A			9,302,019				20.0	%			*				*				*
B			6,801,207				14.6	%			8,063,592				13.7	%			1,131,446

 

*	Represented the percentage below 10%

 

F-37

 

 

JAYUD GLOBAL LOGISTICS LIMITED
NOTES TO INTERIM CONDENSED CONSOLIDATED FINANCIAL STATEMENTS

 

17. CONCENTRATION (Cont.)

 

The following table sets forth information as to each supplier that accounted for 10% or more of total purchase for the six months ended June 30, 2023 and 2024.

 

		For the six months ended June 30,
		2023								2024
Supplier		Amount				% of Total				Amount				% of Total				Amount
		RMB								RMB								US$
Cargo Link Logistics HK Company Limited			34,006,130				19.9	%			31,986,207				11.7	%			4,488,158
A			*				*				57,953,487				21.2	%			8,131,768
C			27,936,781				16.3	%			*				*				*

 

*	Represented the percentage below 10%

 

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 June 30, 2024:

 

		Payments due by period
		Total				Within one year				Within 1-2 years				Over 2 years
Operating lease payment			7,742,886				2,989,195				2,613,699				2,139,992
Bank borrowings			25,536,891				25,536,891				-				-
Loan from a related party			2,000,000				2,000,000
Loans from a third party			2,829,023				2,829,023				-				-
Loan from shareholders			16,335,567				-				16,335,567				-
Total			54,444,367				33,355,109				18,949,266				2,139,992

 

Other than as shown above, the Company did not have any significant capital and other commitments, long-term obligations, or guarantees as of June 30, 2024.

 

F-38

 

 

JAYUD GLOBAL LOGISTICS LIMITED
NOTES TO INTERIM CONDENSED CONSOLIDATED FINANCIAL STATEMENTS

 

19. Business Combination

 

Qingdao Oranda Supply Chain Management Co., Ltd.

 

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 offers 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. The net assets of Oranda was negative RMB 341 at the time of acquisition. Oranda incurred a net loss of RMB 961,351 from the date of acquisition to June 30, 2024. These amounts are considered insignificant to the Group’s net assets as of June 30, 2024 and net losses for the six months ended June 30, 2024; therefore, no pro forma information of Oranda are presented.

 

Shenzhen Jiniu International Logistics Co., Ltd.

 

In January 2024, the Group acquired a 51% stake in Shenzhen Jiniu International Logistics Co., Ltd. (“Jiniu”), located in Shenzhen. Focusing on 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. The net assets of Jiniu was negative RMB 19,755 at the time of acquisition. Jiniu incurred a net loss of RMB 183,146 from the date of acquisition to June 30, 2024. These amounts are considered insignificant to the Group’s net assets as of June 30, 2024 and net losses for the six months ended June 30, 2024; therefore, no pro forma information of Jiniu are presented.

 

HYTX warehouse Inc.

 

In April 2024, the Group acquired a 51% stake in HYTX Warehouse Inc. (“HYTX”), a logistics company headquartered in California, U.S.A. The final purchase price will be determined by HYTX’s performance and paid in a combination of cash and the Group’s Class A ordinary shares in 2027, based on HYTX’s average net profit until the end of 2026. The net assets of HYTX was negative RMB 11,960 at the time of acquisition. HYTX incurred a net loss of RMB 39,091 from the date of acquisition to June 30, 2024. These amounts are considered insignificant to the Group’s net assets as of June 30, 2024 and net losses for the six months ended June 30, 2024; therefore, no pro forma information of HYTX are presented.

 

Acquisition of these companies shall diversify the Group’s existing business portfolio, and broaden the source of income of the Group.

 

The transactions were accounted for under the acquisition method of accounting in accordance with ASC 805, Business Combinations.

 

Based on financial statements of the companies above at the time of the acquisition, the fair value of these entities at the time of acquisition was considered immaterial. The Group made a forecast for next three years (up to December 2026) of Oranda, Jiniu and HYTX based on their historical performance, and none of them reaches the minimum required net income amount for receiving any consideration. Thus, the Company concluded that the consideration for these acquisitions are nil.

 

The contingent payment is more like an incentive to the selling shareholders for transferring their resource into the new companies to achieve long term growth of the companies, which should recognized as the compensation.

 

An award based on a fixed dollar amount is a liability in accordance with ASC 480-10-25-14. Liability classification is also appropriate for an award that has several possible fixed dollar amount settlements that are not solely or predominantly based on the value of the company’s shares. The compensation for the selling shareholders is calculated based on the average net income for the next three years (up to December 2026), so it should be accounted for as a liability award with a performance condition. The monetary value of the purchase price only fluctuates based on changes in average net income for the next three years, not stock price. Expense would not be recognized until achievement of one of the performance targets is deemed probable. The expense to be recognized would be based on the Company’s best estimate of the ultimate outcome at the end of each reporting period. Once the number of shares are issued, the award would be reclassified to equity.

 

Based on the Group’s forecast for next three years (up to December 2026) of each acquiree based on their historical performance, none of them reaches the minimum required net income amount for receiving any consideration. Therefore, no expenses or liabilities were recorded as of June 30, 2024.

 

F-39

 

 

JAYUD GLOBAL LOGISTICS LIMITED
NOTES TO INTERIM CONDENSED CONSOLIDATED FINANCIAL STATEMENTS

 

20. SUBSEQUENT EVENTS

 

Conversion of Class B shares

 

In July and September 2024, Xiaogang Geng, the controlling shareholder of the Group, converted total of 1,000,000 Class B shares into Class A shares.

 

Convertible Debentures

 

On September 13, 2024, the Group entered into Securities Purchase Agreements (the “Securities Purchase Agreement”) with two accredited investors (the “Purchasers”), pursuant to which the Group received net proceeds of $800,000 in consideration of the issuance of Convertible Debentures (the “Debenture”) in the principal amount of $800,000.

 

The transactions contemplated under the Securities Purchase Agreements closed on September 13, 2024, September 27, 2024 and October 8, 2024. The Debentures mature on the first-year anniversary of the issuance of the Debenture, bears interest at a rate of 6% per annum to the extent such interest is paid in cash or Class A ordinary shares of the Group, beginning after its original date of issuance at a conversion price at 52% of average of the Volume-Weighted Average Price (“VWAP”) for the five (5) consecutive trading days that is immediately prior to the original issue date, or 52% of the lowest daily VWAP price in the last five (5) trading days immediately prior to conversion.

 

The principal and accumulated interests were converted into 2,069,382 shares of Class A ordinary shares of the Group on October 22, 2024.

 

Termination of Acquisition of Qingdao Oranda Supply Chain Management Co., Ltd. (“Oranda”)

 

On October 10, 2024, the Group and Oranda agreed to terminate the equity purchase agreement dated January 18, 2024, and the 51% equity interests acquired was returned to the original owner of Oranda. No consideration was given to the original owner pursuant to the termination agreement and all parties were relieved of their obligations as a result of the termination.

 

Acquisition of interests in the companies in the United States

 

In October 2024, the Group made the following investments in the United States. These strategic investments are part of Jayud’s ongoing efforts to expand its operational footprint in the United States and enhance its comprehensive suite of logistics services.

 

- On October 19, 2024, the Group acquired 10% equity interests in LD Global Logistics Inc., a licensed customs broke, with 117,115 shares of Class A ordinary shares of the Group as consideration.

 

F-40

 

 

- From October 19, 2024 to October 26, 2024, the Group acquired 20% equity interests in HYTX WAREHOUSE NO.3 LLC, 49% equity interests in HYTX WAREHOUSE NO.10 LLC, 95% of YUKON FLOORING BELLAIRE, LLC, and 20% of HYTX WAREHOUSE NO.11 LLC, four warehousing companies in the United States, with 1,680,016 share, 1,568,457 shares, 2,219,828 shares, and 1,704,851 shares of Class A ordinary shares of the Group as consideration, respectively.

 

New share issuance

 

In October 2024, the Group entered into Share Purchase Agreements (the “Purchase Agreements”) with certain accredited investors named therein (the “Purchasers”), pursuant to which the Company issued in a private placement an aggregate of 14,793,335 Class A ordinary shares to the Purchasers at a purchase price of US$ 0.45 per share. The closing of the private placement occurred on October 28, 2024 (the “Closing Date”) and the Company received gross proceeds of $6,657,000.

 

In October 2024, the Group issued 17,261 shares as compensation to its investor relation service provider.

 

As of October 28, 2024, 40,112,868 Class A Ordinary shares were issued and outstanding; 5,409,600 Class B Ordinary shares were issued and outstanding.

 

New shareholder loan

 

In September and November 2024, the Group borrowed a total amount of RMB 2,712,100 (US$ 380,549) and RMB 4,775,000 (US$ 670,006) from Xiaogang Geng, respectively. These loans all bear a 6% interest rate and are due in November and December 2024, respectively. As of the date of the report, total of RMB 5,802,500 (US$ 814,180) was repaid.

 

New related party loan

 

In July 2024, the Group borrowed a total amount of RMB 738,000 (US$ 103,553) with no interests from one of its officers. This loan is due in July 2025.

 

New bank loans

 

On July 5, 2024, YJD BG entered into a loan agreement with Industrial and Commercial Bank of China in the amount of RMB 1,000,000 (US$ 140,315) with an interest rate of 4.25%. The loan is due on May 31, 2025.

 

On November 15, 2024, JYD NJWL entered into a one-year maturity loan agreement with Bank of Ningbo in the total amount of USD 500,000 with an interest rate of 5.43%. The loan was guaranteed by JYD WLKJ.

 

New subsidiaries

 

In August 2024, the Group set up Ezhou Jayud Logistics Technology Co., Ltd (“JYD Ezhou”), a subsidiary wholly owned by JYD HK. In September 2024, JYD Ezhou set up Ezhou Jayud International Logistics Co., Ltd. (” Ezhou GJHY”) with a non-controlling shareholder and obtained 51% equity interest of Ezhou GJHY.

 

F-41

Exhibit 99.2

 

MANAGEMENT’S DISCUSSION AND ANALYSIS OF FINANCIAL CONDITION AND

RESULTS OF OPERATIONS

 

The following discussion and analysis of our financial condition and results of operations should be read in conjunction with our interim condensed consolidated financial statements and related notes. This discussion and analysis contains forward-looking statements based upon current beliefs, plans and expectations that involve risks, uncertainties and assumptions. Our actual results and the timing of selected events could differ materially from those anticipated in these forward-looking statements as a result of several factors .

 

OVERVIEW

 

We are one of the leading Shenzhen-based end-to-end supply chain solution providers in China, with a focus on providing cross-border logistics services. We benefit from the unique geographical advantages of providing high degree of support for ocean, air and overland logistics. A well-connected transportation network enables us to significantly increase efficiency and reduce transportation costs. As one of the most open and dynamic regions in China, Shenzhen is home to renowned enterprises and the gathering place of cross-border e-commerce market players, which provides us with a large customer base and enables us to develop long-term in-depth relationships with our customers. In addition, the sustained and steady growth of local economy and supportive government policies have backed up our development and brought us great convenience in daily operations.

 

For the six months ended June 30, 2023 and 2024, our total revenue amounted to RMB169.5 million and RMB270.6 million (US$38.0 million), respectively, representing an increase of 59.6%. For the six months ended June 30, 2023 and 2024, our gross loss amounted to RMB0.6 million and RMB2.7 million (US$0.4 million), respectively, representing an increase of 350%.

 

We offer a comprehensive range of cross-border supply chain solution services, including: (i) freight forwarding services, (ii) supply chain management, and (iii) other value-added services.

 

KEY FACTORS THAT AFFECT OPERATING RESULTS

 

Changes in the global and local economic conditions

 

Our financial performance, particularly our ability to drive growth, depends upon the demand for our services, which is closely linked to the global and local economies, and is sensitive to the level of expenditure by business entities’ on our services. While the logistics industry in China has been benefiting from the remarkable growth of the Chinese economy in recent years, issues and conditions with global reach, such as the COVID-19 outbreak, trade wars and occasional regional armed conflicts, have negatively affected the global economy and had a chain reaction in the global logistics industry. Despite the substantial improvements in social and economic conditions in China since the peak of COVID-19 in March 2020, there remain uncertainties regarding the overall economic conditions and demand for our services worldwide. Other macro-economic factors beyond our control may also affect our results of operations. For example, any prolonged recurrence of other contagious diseases, social instability or significant natural disasters may have a negative impact on the demand for our services.

 

Our ability to maintain our major customers

 

For the six months ended June 30, 2023 and 2024, approximately 31.2% and 28.4% of our total revenues, respectively, were generated by our five largest customers of the same periods. While certain service contracts contain options of renewal, there is no assurance that our major customers will continue their business relationships with us, or the revenue generated from dealings with them will be maintained or increased in the future. If we are unable to enter into new service contracts with our customers upon expiry of the current contracts, or there is a reduction or cessation of demands from these customers for whatever reasons and we are unable to enter into service contracts of comparable size and terms in substitution, our business, financial conditions and results of operation may be materially and adversely affected.

 

 

 

 

Our ability to obtain new customers and to increase our revenue per customer

 

The number of our customers increased from 1,317 as of June 30, 2023 to 1,478 as of June 30, 2024, representing a 12.2% increase. Meanwhile, average revenue per customer was RMB128.7 thousand for the six months ended June 30, 2023 as compared to approximately RMB183.1 thousand (US$ 25.7 thousand) per customer for the six months ended June 30, 2024. Our ability to increase our revenues and our profitability will depend on our ability to continue to increase our customer base and revenue per customer. To achieve this, we strive to increase our marketing efforts such as making more event sponsorship, increasing online and offline advertising advertisements in targeted markets and enhancing the quality and capabilities of our technologies.

 

Our ability to pursue strategic opportunities for growth

 

Although the end-to-end cross-border supply chain solution market in China is highly fragmented, top companies in this market in China hold stronger comprehensive service capabilities and bargaining power. In the future, it is expected that more competitors will enter this market. Therefore, we intend to continue to pursue strategic investments in selective businesses in the logistics industry that will enhance our service capabilities. We believe that a solid investment strategy in warehouses and licenses for e-commerce exports may be critical for us to accelerate our growth and strengthen our competitive position in the future. Our ability to identify and execute strategic investments will likely have an effect on our operating results over time.

 

Regulatory Environment

 

Our ability to anticipate and respond to potential changes in government policies and regulations will have a significant impact on our business operations in such countries and our overall results of operations. In recent years, the PRC government has issued many supportive policies to encourage the development of the logistic industry. Encouraged by those policies, the logistic industry in China is expected to become more standardized and modernized. The integrated cross-border logistics service market, as a sub-segment of the logistic industry, is likely to evolve along with the development of the logistic industry.

 

Impact of Global Inflationary Pressures

 

We primarily face two types of inflationary pressures: one is inflation-related economic slowdown, and the other is a rise in fuel prices as a result of inflation. Our business is less affected by the first type of inflationary pressure since substantially all of our business operations are in China, where inflation has been stable over the past three years. In 2021, 2022 and 2023, the inflation rate in China was 0.9%, 2.0% and 0.2%, , respectively. However, due to global inflation and also triggered by the conflict between Russia and Ukraine in 2022, the prices of fossil fuel have surged and affected the freight forwarding services section which still relies heavily on fossil fuels to power transportation. With higher fuel prices, costs of freight forwarding services will increase and the demand for cross-border logistics services will be adversely affected.

 

Impact of Supply Chain Disruptions

 

The outbreak of COVID-19 since the beginning of March 2020 caused widespread shutdown and weakened the financial conditions of our upstream suppliers and downstream customers, which resulted in some disruptions to our business operations. However, as supply chain disruptions in North America and Europe have stimulated global demand for Chinese exports, we, on the other hand, have gained more opportunities to provide cross- border logistics services. Based on the current situation in China, we do not expect a material impact on our results of operations and financial performance to be caused by COVID-19 in the future. The war in Ukraine in 2022 also gave rise to supply chain disruptions in Europe. Our revenue generated from Europe, primarily from freight forwarding services and supply chain management in aggregate, accounted RMB28.9 million, or 17.3% of total freight forwarding revenue, for the six months ended June 30, 2023 and RMB23.3 million (US$3.3 million), or 14.2% of total freight forwarding revenue, for the six months ended June 30, 2024. Except for the impact of COVID-19 and the war in Ukraine, there are no other supply chain disruptions affecting our business.

 

2

 

 

KEY COMPONENTS OF OUR RESULTS OF OPERATIONS

 

Revenues

 

Our revenues consist of (i) revenues from our freight forwarding services, which primarily comprise service fees typically ascertained based on the number of packages, weight, measurement, destination port, types of freight and other special demands; (ii) revenues from our supply chain management, which primarily comprise product revenues and commissions relates to cross-border supply chains; and (iii) revenues from our other valued-added services, which primarily comprise custom brokerage, and intelligent logistic IT systems.

 

Our breakdown of revenues for the six months ended June 30, 2023 and 2024 is summarized below:

 

		For the Six Months Ended June 30,												Variances
		2023				2024								Amount				%
		RMB ’000				RMB ’000				US$ ’000				RMB ’000
Freight forwarding			166,394				163,345				22,920				(3,049	)			(1.8	)
Integrated cross-border logistics services			110,623				100,213				14,062				(10,410	)			(9.4	)
Fragmented logistics services			37,107				56,784				7,967				19,677				53.0
Chartered airline freight services			18,664				6,348				891				(12,316	)			(66.0	)
Supply chain management			1,292				105,500				14,803				104,208				8065.6
International trading			1,291				105,500				14,803				104,209				8072.2
Agent services			1				-				-				(1	)
Other value-added services			1,799				1,763				247				(36	)			(2.0	)
Total revenues			169,485				270,608				37,970				101,123				59.7

 

Cost of Revenues

 

Cost of revenues represents costs and expenses incurred in order to generate revenue. Our cost of revenues primarily consists of (i) cost of freight charges, (ii) cost of goods, (iii) labor costs, (iv) cost of customs brokerage, (v) cost of packaging, (vi) cost of indemnities paid to carriers. Cost of freight charges consists of (i) air freight/ ocean freight/land freight charges, (ii) delivery fees, and (iii) other service fees.

 

Our breakdown of cost of revenues for the six months ended June 30, 2023 and 2024 is summarized below:

 

		For the Six Months Ended June 30,												Variances
		2023				2024								Amount				%
		RMB ’000				RMB ’000				US$ ’000				RMB ’000
Freight forwarding			167,599				172,418				24,195				4,819				2.9
Integrated cross-border logistics services			104,684				96,975				13,608				(7,709	)			(7.4	)
Fragmented logistics services			44,807				67,806				9,515				22,999				(51.3	)
Chartered airline freight services			18,108				7,637				1,072				(10,471	)			(57.8	)
Supply chain management			1,287				99,438				13,952				98,151				7626.3
International trading			1,287				99,438				13,952				98,151				7626.3
Other value-added services			1,208				1,464				205				254				21.2
Total cost of revenues			170,094				273,320				38,352				103,224				60.7

 

3

 

 

Gross Profit

 

Our gross profit equals to our revenue less our cost of revenues. Our gross profit is primarily affected by our ability to generate revenue and the fluctuation of our cost. Our cost of revenues increased by 60.7% from RMB170.1 million for the six months ended June 30, 2023 to RMB273.3 million (US$38.4 million) for the six months ended June 30, 2024. Our gross profit margin was negative 0.4% and 1.0% for the six months ended June 30, 2023 and 2024, respectively. Our breakdown of gross profit (loss) by service line for the six months ended June 30, 2023 and 2024 is set forth below:

 

		For the Six Months ended June 30,
		2023				2024								Variance
		RMB ’000				RMB ’000				US$ ’000				RMB ’000 %
Freight forwarding
Gross loss			(1,205	)			(9,073	)			(1,275	)			(7,868	)
Gross margin			(0.7	)%			(5.6	)%			(5.6	)%			(4.8	)%
Supply chain management
Gross profit			5				6,062				851				6,057
Gross margin			0.4	%			5.7	%			5.7	%			5.4	%
Other value-added services
Gross profit			591				299				42				(292	)
Gross margin			32.9	%			17.0	%			17.0	%			(15.8	)%
Total
Gross loss			(609	)			(2,712	)			(382	)			(2,103	)
Gross margin			(0.4	)%			(1.0	)%			(1.0	)%			(0.6	)%

 

Operating expenses

 

Operating expenses include selling expenses, general and administrative expenses, and research and development 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. Our selling expenses mainly consist of (i) employee payroll and commission, (ii) entertainment and marketing expenses, and (iii) rental and depreciation related to selling and marketing functions. Research and development expenses mainly consist of (i) cost of materials used for experiment, (ii) employee payroll, and (iii) depreciation expense for experimental facilities and other daily expenses related to our research and development activities in logistics related software development. We anticipate that our operating expenses will decrease with management’s effort of expense control.

 

The following table sets forth our operating expenses, both in absolute amount and as a percentage of the total operating expenses, for the six months ended June 30, 2023 and 2024:

 

		For the six months Ended June 30,
		2023								2024
		RMB ’000				%				RMB ’000				US$ ’000				%
General and administrative expenses			13,629				56.9				11,845				1,662				75.8
Provision for (Reversal of) credit loss			994				4.2				(1,841	)			(258	)			(11.8	)
Impairment charge on long-lived assets			-				0.0				964				135				6.2
Lease termination loss			1,198				5.0				311				44				2.0
Selling expenses			6,373				26.6				3,851				540				24.6
Research and development expenses			1,755				7.3				502				70				3.2
Total operating expenses			23,949				100.0				15,632				2,193				100.0

 

Other expense net

 

Other expenses, net consists of other expenses/income, net, foreign exchange loss, net and financial expenses, net. Other expenses/income, net mainly consists of (i) government subsidy, and (ii) other gains or losses for penalties and compensation. Financial expenses, net mainly consists of (i) interest expenses and (ii) bank charges.

 

4

 

 

RESULTS OF OPERATIONS

 

The following table sets forth a summary of our consolidated results of operations for the periods indicated. This information should be read together with our consolidated financial statements and related notes included elsewhere in this prospectus. The operating results in any period are not necessarily indicative of the results that may be expected for any future period.

 

			For the six months ended June 30,												Change
			2023				2024				2024				Amount				%
			RMB				RMB				US$				RMB
Revenues			169,485,253				270,607,509				37,970,408				101,122,256				59.7
Cost of revenues			(170,094,397	)			(273,319,576	)			(38,350,953	)			(103,225,179	)			60.7
Gross profit (loss)			(609,144	)			(2,712,067	)			(380,545	)			(2,102,923	)			345.2
Operating expenses:
General and administrative expenses			(13,628,922	)			(11,844,976	)			(1,662,033	)			1,783,946				(13.1	)
(Provision for) reversal of credit losses			(993,807	)			1,840,875				258,303				2,834,682				(285.2	)
Impairment charges on long-lived assets			-				(963,867	)			(135,245	)			(963,867	)			(100.0	)
Lease termination loss			(1,197,921	)			(310,673	)			(43,592	)			887,248				(74.1	)
Selling expenses			(6,373,345	)			(3,850,752	)			(540,320	)			2,522,593				(39.6	)
Research and development expenses			(1,755,063	)			(502,278	)			(70,477	)			1,252,785				(71.4	)
Total operating expenses			(23,949,058	)			(15,631,671	)			(2,193,364	)			8,317,387				(34.7	)
Operating loss			(24,558,202	)			(18,343,738	)			(2,573,909	)			6,214,464				(25.3	)
Other expenses:
Other (expenses) income, net			(241,469	)			74,482				10,451				315,951				(130.8	)
Foreign exchange loss, net			(974,371	)			(464,790	)			(65,217	)			509,581				(52.3	)
Financial expenses, net			(417,654	)			(1,252,481	)			(175,742	)			(834,827	)			199.9
Total other expenses, net			(1,633,494	)			(1,642,789	)			(230,508	)			(9,295	)			0.6
Loss before income tax expense			(26,191,696	)			(19,986,527	)			(2,804,417	)			6,205,169				(23.7	)
Income tax (expenses) benefit			(36,339	)			672,393				94,347				708,732				(1,950.3	)
Net loss			(26,228,035	)			(19,314,134	)			(2,710,070	)			6,913,901				(26.4	)

 

Revenues

 

Total revenues increased by approximately RMB101.1 million, or 59.7%, from approximately RMB169.5 million for the six months ended June 30, 2023 to approximately RMB270.6 million (US$38.0 million) for the six months ended June 30, 2024.

 

Revenues from our freight forwarding services decreased by RMB3.0 million (US$0.4 million), or 1.8%, from RMB166.4 million for the six months ended June 30, 2023 to RMB163.3 million (US$22.9 million) for the six months ended June 30, 2024. The decrease was mainly due to the decrease in revenue of approximately RMB12.3 million (US$1.7 million) from chartered airline services resulting from the strategic adjustment made by the Company, and decrease in revenue of approximately RMB14.8 million (US$2.1 million) from e-commerce related logistics services resulting from more strict risk management to cope with the current economic situation, offset by increased revenue of RMB4.6 million (US$0.7 million) from our major customers and approximately RMB19.5 million (US$2.7 million) from newly acquired subsidiary, Qingdao Oranda Supply Chain Management Co., Ltd., Shenzhen Jiniu International Logistics Co., Ltd. and HYTX warehouse Inc. Although the overall economic situation was depressing, we were able to continue expanding our customer base during the six months ended June 30, 2024. Our customer base increased by 12.2% from 1,317 customers for the six months ended June 30, 2023 to 1,478 customers for the six months ended June 30, 2024.

 

Revenues from our supply chain management increased by RMB104.2 million, or 8065.6%, from RMB1.3 million for the six months ended June 30, 2023 to RMB105.5 million (US$14.8 million) for the six months ended June 30, 2024. During the six months ended June 30, 2023, the Group stopped the international trading business of one subsidiary, mainly export product dealing. In July 2023, the Group set up a new subsidiary with 51% of equity interest, focusing on electronic devices and chips import. Revenue from our supply chain management during six months ended June 30, 2024 were almost all from this new subsidiary.

 

Revenues from our other value-added services remain stable from the six months ended June 30, 2023 to 2024, all amounted to RMB1.8 million (US$0.2 million).

 

Cost of Revenues

 

Our cost of revenues increased by 60.7% from RMB170.1 million for the six months ended June 30, 2023 to RMB273.3 million (US$38.4 million) for the six months ended June 30, 2024.

 

Our cost of revenues for freight forwarding services increased by approximately RMB4.8 million, or 2.9%, from approximately RMB167.6 million for the six months ended June 30, 2023 to approximately RMB172.4 million (US$24.1 million) for the six months ended June 30, 2024. Cost of freight charges, representing the main source of our cost of revenue, increased by RMB4.5 million, or 3.0%, from approximately RMB148.2 million for the six months ended June 30, 2023 to approximately RMB152.7 million (US$21.4 million) for the six months ended June 30, 2024. The main components of freight charges were the freight and the delivery fees paid to third- party carriers. Due to significant price increase in ocean freight compared to the 1^st half of 2023, the Company’s costs increased during the six months ended June 30, 2024.

 

5

 

 

Our cost of revenues for supply chain management increased by approximately RMB98.1 million, or 7626.3%, from approximately RMB1.3 million for the six months ended June 30, 2023 to approximately RMB99.4 million (US$14.0 million) for the six months ended June 30, 2024. The increase was in line with the increase in international trading business.

 

Our cost of revenues for other value-added services increased by approximately RMB0.3 million, or 21.2%, from approximately RMB1.2 million for the six months ended June 30, 2023 to approximately RMB1.5 million (US$0.2 million) for the six months ended June 30, 2024. The increase was primarily due to the increase of orders of customs brokerage services.

 

Gross loss

 

Our gross loss increased by RMB2.1 million, or 350.0%, from RMB0.6 million for the six months ended June 30, 2023 to RMB2.7 million (US$0.4 million) for the six months ended June 30, 2024. For the six months ended June 30, 2023 and 2024, our overall gross profit margin decreased from negative 0.4% to negative 0.7%.

 

Gross profit margin of freight forwarding services decreased from negative 0.7% for the six months ended June 30, 2023 to negative 5.6% for the six months ended June 30, 2024. The negative gross margin during the six months ended June 30, 2024 was mainly due to the gross loss of RMB4.4 million from warehousing services, RMB1.3 million from chartered airline freight services and RMB2.9 million from other logistics services due to insufficient demand and significant decrease in sales prices and increase in ocean freight costs offset by the gross profit of RMB3.2 million from integrated cross-border logistics services, including e-commerce related logistic services.

 

Gross profit margin of our supply chain management increased from 0.4% for the six months ended June 30, 2023 to 5.7% for the six months ended June 30, 2024, reflecting higher margin of electronic devices and chips business from our newly establish subsidiary in July 2023.

 

Gross profit margin of our other value-added services decreased from 32.8% for the six months ended June 30, 2023 to 17.0% for the six months ended June 30, 2024 mainly due to price reduction of customs brokerage services resulting from fierce competition.

 

Operating Expenses

 

Our operating expenses decreased from RMB23.9 million for the six months ended June 30, 2023 to RMB15.6 million (US$2.2 million) for the six months ended June 30, 2024, representing a period-on-period decrease of 34.7%. Due to our cost reduction strategy and more strict risk management for 2024, our operating expenses and bad debt expenses all decreased during the six months ended June 30, 2024.

 

General and administrative expenses

 

General and administrative expenses mainly consisted of (i) employee payroll, rental and depreciation related to general and administrative functions, (ii) professional service fees; and (iii) other corporate expenses. Our general and administrative expenses decreased by 13.1% from RMB13.6 million for the six months ended June 30, 2023 to RMB11.8 million (US$1.7 million) for the six months ended June 30, 2024, which was primarily attributable to (i) a decrease of RMB1.2 million (US$0.2 million) in expenses associated with the Company’s initial public offering incurred during the six months ended June 30, 2023; (ii) a decrease of RMB0.7 million (US$0.1 million) in rent and moving expenses; (iii) a decrease of RMB0.4 million (US$0.1 million) in professional expenses for consulting and auditing services; (iv) a decrease of RMB0.4 million (US$0.1 million) in staff costs including employee training expenses, bonus and management compensation; offset by general and administration expenses of RMB0.9 million (US$0.1 million) for newly acquired subsidiaries during the six months ended June 30, 2024.

 

Selling expenses

 

Our selling expenses mainly consisted of (i) employee payroll and commission, (ii) entertainment and marketing expenses, and (iii) rental and depreciation related to selling and marketing functions. Our selling expenses decreased by 39.6% from RMB6.4 million for the six months ended June 30, 2023 to RMB3.9 million (US$0.5 million) for the six months ended June 30, 2024, which was primarily attributable to (i) a decrease of RMB2.4 million (US$0.3 million) of customer acquisition costs, including RMB1.7 million (US$0.2 million) in employee payroll and commission and RMB0.7 million (US$0.1 million) business promotion and entertainment expenses for market expansion; (ii) a decrease of RMB0.4 million (US$0.1 million) of rent and office expenses; offset by selling expenses of RMB0.3 million (US$0.1 million) for newly acquired subsidiaries during the six months ended June 30, 2024.

 

6

 

 

Reversal of (provision for) credit losses

 

Provision for credit losses consisted of bad debt allowance net of reversal, against (i) accounts receivable, (ii) contract assets and (iii) prepaid expenses and other current asset, net. We adopted ASU 2020-03, Financial Instruments – Credit Losses (Topic 326): Measurement of Credit Losses on Financial Instruments starting from January 1, 2023. Based on the new standard, we used expected loss model to assess the provision of bad debt allowance against accounts receivables, other receivables and contract assets. As a result, we recorded bad debt allowance of RMB1 million for the six months ended June 30, 2023. For the six months ended June 30, 2024, we had reversal of credit losses of RMB1.8 million (US$0.3 million) due to the subsequent collection of allowance recognized at the end of 2023.

 

Lease termination loss

 

Lease termination losses decreased by 74.1% from RMB1.2 million for the six months ended June 30, 2023 to RMB0.3 million (US$0.04 million) for the six months ended June 30, 2024. The lease termination losses for the six months ended June 30, 2023 and 2024 were mainly due to the deposit loss from termination of the lease of warehouses.

 

Impairment charges on long-lived assets

 

Impairment charges on long-lived assets consisted of impairment of property and equipment of RMB0.4 million (US$0.1 million) and intangible assets of RMB0.6 million (US$0.1 million). During the six months ended June 30, 2024, there was a triggering event of negative cash flows and operating losses that indicated the carrying amounts of our long-lived assets may not have been recoverable. We performed an assessment and recognized the impairment charges on long-lived assets for the amount by which the carrying value of the asset group’s long-lived assets exceeded their estimated fair value. No impairments of long-lived assets were recognized for the six months ended June 20, 2023.

 

Research and development expenses

 

Research and development expenses mainly consisted of (i) cost of materials used for experiments, (ii) employee payroll, (iii) depreciation expense for experimental facilities and other daily expenses related to our research and development activities, and (iv) outsourcing expense for system development. Research and development expenses decreased by 71.4% from RMB1.8 million for the six months ended June 30, 2023 to RMB0.5 million (US$0.1 million) for the six months ended June 30, 2024, since substantial work of the Company’s operation systems were completed during the six months ended June 30, 2023.

 

Other expenses, net

 

Total other expenses remains stable for the six months ended June 30, 2023 and 2024, all amounted to RMB1.6 million (US$0.2 million). Other expenses, net consisted of other (expenses) income, net, foreign exchange loss, net and financial expenses,net.

 

Other (expenses) income, net increased by 130.8% from expense of RMB0.2 million for the six months ended June 30, 2023 to income of RMB0.1 million (US$0.01 million) for the six months ended June 30, 2024. The non-operating income for the six months ended June 30, 2023 and 2024 were mainly from government subsidies.

 

Foreign exchange loss, decreased by 52.3% from RMB1.0 million for the six months ended June 30, 2023 to RMB0.5 million (US$0.1 million) for the six months ended June 30, 2024, which was primarily due to significant depreciation of RMB during the six months ended June 30, 2023.

 

Financial expenses, net increased by 199.9%, or RMB0.8 million, from RMB0.4 million for the six months ended June 30, 2023 to RMB1.3 million (US$0.2 million) for the six months ended June 30, 2024, which was primarily due to the increase of loans with net amount of RMB9.7 million (US$1.4 million) from shareholders and related parties after offsetting the decrease of bank loans during the six months ended June 30, 2024.

 

Income taxes

 

We had income tax expenses of RMB0.04 million for the six months ended June 30, 2023, and income tax benefit of RMB0.7 million (US$0.1 million) for the six months ended June 30, 2024.

 

Net loss

 

As a result of the foregoing, our net loss decreased by RMB6.9 million, or 26.4%, from RMB26.2 million for the six months ended June 30, 2023 to RMB19.3 million (US$2.7 million) for the six months ended June 30, 2024.

 

7

 

 

LIQUIDITY AND CAPITAL RESOURCES

 

The table below sets forth our cash flows for the six months ended June 30, 2023 and 2024.

 

		For the six months ended June 30,												Change
		2023				2024				2024				Amount				%
		RMB				RMB				US$				RMB
Net cash used in operating activities			(41,525,937	)			(14,640,802	)			(2,054,333	)			26,885,135				(64.7	)%
Net cash used in investing activities			(2,294,212	)			(466,579	)			(65,465	)			1,827,633				(79.7	)%
Net cash provided by financing activities			34,784,463				10,050,389				1,410,223				(24,734,074	)			(71.1	)%
Effects of exchange rate changes on cash			(2,252,616	)			30,607				4,296				2,283,223				(101.4	)%
Net decrease in cash			(11,288,302	)			(5,528,337	)			(775,711	)			5,759,966				(51.0	)%
Total cash and cash equivalents and restricted cash at beginning of the year			28,440,241				26,605,028				3,733,096				(1,835,213	)			(6.5	)%
Total cash and cash equivalents and restricted cash at end of the year			17,151,939				21,076,691				2,957,385				3,924,752				22.9	%
Restricted cash at end of the year			501,695				-				-				(501,695	)			(100.0	)%
Cash at the end of the periods  presented			16,650,244				21,076,691				2,957,385				4,426,447				26.6	%

 

In assessing our liquidity, we monitor and analyze our cash on-hand and our operating and capital expenditure commitments. To date, we have financed our working capital requirements from cash flow from operations, debt and equity financing and capital contributions from our existing shareholders.

 

As of June 30, 2024, we had cash of RMB21.1 million (US$3.0 million). Our working capital deficit was approximately RMB29.3 million (US$4.1 million) as of June 30, 2024. We have funded our operations and capital needs primarily through the net proceeds received from issuance of new shares, capital contributions, and loans from shareholders, related parties and third parties. As of June 30, 2024, we had approximately RMB16.3 million (US$2.3 million) of shareholder loan outstanding.

 

We intend 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 debt/equity financing by issuance of new convertible debentures or shares and (6) seek for certain credit facilities.

 

In September 2024, the Group entered into Securities Purchase Agreements (the“Securities Purchase Agreement”) with two accredited investors (the“Purchasers”), pursuant to which the Company received net proceeds of US$800,000 in consideration of the issuance of Convertible Debentures (the “Debenture”) in the principal amount of US$800,000. These Debentures were converted into the Group’s Class A ordinary shares in October 2024.

 

In October 2024, the Group entered into Share Purchase Agreements (the “Purchase Agreements”) with certain accredited investors named therein (the“Purchasers”), pursuant to which the Company issued in a private placement an aggregate of 14,793,333 Class A ordinary shares to the Purchasers at a purchase price of US$0.45 per share. The Company received gross proceeds of US$6,657,000.

 

Current foreign exchange and other regulations in the PRC may restrict our PRC entities in their ability to transfer their net assets to us and our subsidiaries in Hong Kong. However, as of the date hereof, these restrictions have no impact on the ability of these PRC entities to transfer funds to us as we do not anticipate declaring or paying any dividends in the foreseeable future, as we plan to retain our retained earnings to continue to grow our business. In addition, these restrictions have no impact on the ability for us to meet our cash obligations.

 

8

 

 

In utilizing the proceeds we received from our initial public offering, we may make additional capital contributions to our PRC subsidiary, establish new PRC subsidiaries and make capital contributions to these new PRC subsidiaries, or make loans to the PRC subsidiaries. However, most of these uses are subject to PRC regulations. Foreign direct investment and loans must be approved by and/or registered with SAFE, and its local branches. The total amount of loans we can make to our PRC subsidiary cannot exceed statutory limits and must be registered with the local counterpart of SAFE. The statutory limit for the total amount of foreign debts of a foreign-invested company, based on its discretionary application, is either the difference between the amount of total investment and the amount of registered capital or 2.5 times of the amount of the net assets of such foreign- invested company.

 

We are permitted under PRC laws and regulations to provide funding to our PRC subsidiaries only through loans or capital contributions, and only if we satisfy the applicable government registration and approval requirements. The relevant filing and registration processes for capital contributions typically take approximately eight weeks to complete. The filing and registration processes for loans typically take approximately four weeks or longer to complete. While we currently see no material obstacles to completing the filing and registration procedures with respect to future capital contributions and loans to our PRC subsidiaries, we cannot assure you that we will be able to complete these filings and registrations on a timely basis, or at all. PRC regulation of loans to and direct investment in PRC entities by offshore holding companies and governmental control of currency conversion may delay or prevent us from using the proceeds of our subsequent offerings to make loans or make additional capital contributions to our PRC subsidiaries, which could materially and adversely affect our liquidity and our ability to fund and expand our business. Additionally, while there is no statutory limit on the amount of capital contribution that we can make to our PRC subsidiaries, loans provided to our PRC subsidiaries in the PRC are subject to certain statutory limits.With respect to our PRC subsidiaries, the maximum amount of the loans that they can acquire in aggregate from the outside of China is (i) approximately RMB63.2 million (US$8.9 million) under the total investment minus registered capital approach as foreign-invested companies (assuming no change to the amount of registered capital of Shenzhen Jayud Logistics Technology Co., Ltd. as of the date hereof); or (ii) approximately RMB61.6 million (US$8.6 million) as of June 30, 2024 under the net asset approach.

 

Operating activities

 

For the six months ended June 30, 2024, our net cash used in operating activities was RMB14.6 million (US$2.1 million), which was primarily attributable to (i) a loss adjusted after non-cash items of RMB18.0 million (US$2.5 million); (ii) an increase of RMB3.5 million (US$0.5 million) in accounts receivable mainly due to some customers extended their payment terms; (iii) a decrease of operating lease liabilities of RMB4.3 million (US$0.6 million) for rent payments and contract liabilities of RMB2.2 million (US$0.3 million) for use of advances received from customers; (iv) a decrease of accrued expenses and other current liabilities of RMB2.1 million (US$0.3 million) for payments of advances to employees, for daily operational expenses and transportation deposits; and was offset by (i) a decrease of prepaid expenses and other current assets of RMB3.8 million (US$0.5 million) mainly due to collection of expenses paid on behalf of customers; (ii) an increase of RMB11.6 million (US$1.6 million) in accounts payable to related parties associated with the expenses to related party transportation vendors.

 

For the six months ended June 30, 2023, our net cash used in operating activities was RMB41.5 million, which was primarily attributable to (i) a loss adjusted after non-cash items of RMB21.1 million; (ii) an increase of accounts receivable of RMB21.9 million and contract assets of RMB1.6 million; (iii) an increase of prepaid expenses and other current assets of RMB7.3 million as we made prepaid service fees for chartered airlines and cargo bookings; (iv) a decrease of tax payable of RMB2.5 million and operating lease liabilities of RMB2.3 million due to tax and rent payments; and was offset by (i) an increase of RMB8.9 million in accounts payable to related parties and RMB2.9 million in accounts payable to third parties; (ii) an increase of accrued expenses and other current liabilities of RMB2.1 million; (iii) a decrease of accounts receivable of RMB1.7 million from related parties for collection.

 

The average receivable balance increased by 4.6%, from RMB42.2 million for the six months ended June 30, 2023 to RMB44.2 million (US$6.2 million) for the six months ended June 30, 2024. However, due to the significant increase in revenue from the six months ended June 30, 2023 to 2024, the average days sales in receivables decreased from 45 days for the six months ended June 30, 2023 to 29 days for the six months ended June 30, 2024. The average payable balance increased by 67.6%, from RMB31.5 million for the six months ended June 30, 2023 to RMB52.8 million (US$7.4 million) for the six months ended June 30, 2024, resulting in the average days sales in payable decreased from 33 days in for the six months ended June 30, 2023 to 35 days for the six months ended June 30, 2024.

 

Investing activities

 

Our net cash used in investing activities was RMB2.3 million and RMB0.5 million (US$0.1 million) for the six months ended June 30, 2023 and 2024, respectively, which was primarily attributable to purchase of property, equipment and intangible assets.

 

9

 

 

Financing activities

 

For the six months ended June 30, 2024, our net cash provided by financing activities was RMB9.5 million (US$1.3 million), which was primarily due to (i) proceeds of borrowings from banks of RMB17.7 million (US$2.5 million) in total; (ii) proceeds from loans provided by shareholders of RMB15.5 million (US$2.2 million) and proceeds from a loan from a related party of RMB3.0 million (US$0.4 million); and was offset by (i) repayments of bank borrowings of RMB21.9 million (US$3.1 million); (ii) repayments of related party loans of RMB4.0 million (US$0.6 million).

 

For the six months ended June 30, 2023, our net cash provided by financing activities was RMB34.8 million, which was primarily due to (i) proceeds of borrowings from banks of RMB10.0 million in total; (ii) proceeds from loans provided by a shareholder of RMB2.0 million mainly for business operation; and (iii) proceeds from new share issuance of RMB74.5 million; and was offset by (i) repayments of bank borrowings of RMB6.6 million; (ii) payments to initial shareholders of RMB35.0 million; (iii)) repayments for settling the constructive disbursement paid by related parties on behalf of us of RMB0.7 million.

 

CAPITAL EXPENDITURES

 

We made capital expenditures of RMB2.3 million and RMB0.6 million (US$0.1 million) for the six months ended June 30, 2023 and 2024, respectively. Our capital expenditures consisted primarily of expenditures related to the logistics related equipment and system development. We fund our future capital expenditures with our existing cash balance and proceeds from issuance of new shares or debts. We will continue to make capital expenditures to meet the expected growth of our business.

 

OFF-BALANCE SHEET COMMITMENTS AND ARRANGEMENTS

 

We have not entered into any off-balance sheet financial guarantees or other off-balance sheet commitments to guarantee the payment obligations of any third parties. We have not entered into any derivative contracts that are indexed to our shares and classified as shareholder’s equity or that are not reflected in our consolidated financial statements. Furthermore, we do 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. We do 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.

 

CONTRACTUAL OBLIGATIONS

 

The following table sets forth our contractual obligations as of June 30, 2024:

 

		Payments due by period
		Total				Within one year				Within 1-2 years				Over 2 years
		RMB				RMB				RMB				RMB
Operating lease payment			7,742,886				2,989,195				2,613,699				2,139,992
Bank borrowings			25,536,891				25,536,891				-				-
Loan from a related party			2,000,000				2,000,000
Loans from a third party			2,829,023				2,829,023				-				-
Loans from shareholders			16,335,567				-				16,335,567				-
Total			54,444,367				33,355,109				18,949,266				2,139,992

 

Other than as shown above, we did not have any significant capital and other commitments, long-term obligations, or guarantees as of June 30, 2024.

 

HOLDING COMPANY STRUCTURE

 

Jayud Global Logistics Limited is a holding company with no material operations of its own. We conduct our operations primarily through our subsidiaries in China and Hong Kong. As a result, Jayud Global Logistics Limited’s ability to pay dividends depends upon dividends paid by our PRC and Hong Kong subsidiaries. If our existing PRC and Hong Kong subsidiaries or any newly formed ones incur debt on their own behalf in the future, the instruments governing their debt may restrict their ability to pay dividends to us.

 

10

 

 

In addition, our PRC subsidiaries are permitted to pay dividends to us only out of their retained earnings, if any, as determined in accordance with PRC accounting standards and regulations. Our PRC subsidiaries had aggregate retained earnings as determined under PRC accounting standards as of June 30, 2024. Pursuant to the Company Law of the People’s Republic of China, or the PRC Company Law, our PRC subsidiaries are required to make contribution of at least 10% of their after-tax profits calculated in accordance with the PRC GAAP to the statutory common reserve. Contribution is required until the reserve fund has reached 50% of the registered capital of our subsidiaries. As of June 30, 2024, our reserve fund did not reach 50% of the registered capital of our subsidiaries.

 

As of June 30, 2023 and June 30, 2024, our PRC subsidiaries had RMB7.4 million and RMB6.4 million (US$0.8 million) of restricted net asset.

 

On February 8 and February 28, 2022, Shenzhen Jiayuda E-Commerce Technology Co., Ltd and Shenzhen Jiayuda Global Supply Chain Co., Ltd. declared RMB2.4 million cash dividend and RMB7.4 million cash dividend respectively, to its then shareholders and its holding company, Shenzhen Jayud Logistics Technology Co., Ltd. On March 15, 2022, Shenzhen Jayud Logistics Technology Co., Ltd. Declared RMB9.0 million of dividend to its then shareholders. Historically, Shenzhen Jayud Logistics Technology Co., Ltd. has also received equity financing from its then shareholders to fund business operations of our PRC subsidiaries. For the six months ended June 30, 2023 and 2024, we transferred cash proceeds of RMB4.5 million (US$0.6 million) and nil to Joyed Logistics Service Inc., HK Jayud International Logistics Limited and HK XINYX Technology Limited for the settlement of intercompany transactions. In June 2023, Jayud Global Logistics (Hong Kong) Limited, our wholly owned Hong Kong subsidiary, transferred RMB7.1 million (US$1 million) to Shenzhen Jayud Logistics Technology Co., Ltd. as capital contribution. Shenzhen Jayud Logistics Technology Co., Ltd. then used funds to meet the needs of our business operations.

 

The structure of cash flows within our organization, and the applicable regulations, are as follows. After foreign investors’ funds are received by Jayud Global Logistics Limited, our holding company, subject to the cash demand of our PRC and Hong Kong subsidiaries, the funds can be transferred to our wholly owned Hong Kong subsidiary, Jayud Global Logistics (Hong Kong) Limited, which will further distribute the funds to our PRC subsidiaries. If we intend to distribute dividends, PRC subsidiaries will transfer the dividends to Jayud Global Logistics (Hong Kong) Limited in accordance with the laws and regulations of the PRC, and then Jayud Global Logistics (Hong Kong) Limited will transfer the dividends up to Jayud Global Logistics Limited, and the dividends will be distributed from Jayud Global Logistics Limited to all shareholders respectively in proportion to the shares they hold, regardless of whether the shareholders are U.S. investors or investors in other countries or regions. The cross-border transfer of funds within our corporate group under our direct holding structure must be legal and compliant with relevant laws and regulations of China and Hong Kong. In utilizing the proceeds from our overseas financing, as an offshore holding company, we are permitted under PRC laws and regulations to provide funding to our PRC subsidiaries only through loans or capital contributions and to our affiliated entities only through loans, subject to applicable government reporting, registration and approvals. We do not have any present plan to pay any cash dividends on our ordinary shares in the foreseeable future after our initial public offering. We have, from time to time, transferred cash between our PRC subsidiaries to fund their operations, and we do not anticipate any difficulties or limitations on our ability to transfer cash between such subsidiaries. As of the date of this interim report, no cash generated from our PRC subsidiaries has been used to fund operations of any of our non-PRC subsidiaries. We may encounter difficulties in our ability to transfer cash between PRC subsidiaries and non-PRC subsidiaries largely due to various PRC laws and regulations imposed on foreign exchange. However, as long as we are compliant with the procedures for approvals from foreign exchange authorities and banks in China, the relevant laws and regulations in China do not impose limitations on the amount of funds that we can transfer out of China. We currently do not have any cash management policy that dictates the transfer of cash between our subsidiaries.

 

INFLATION

 

Since our inception, inflation in China has not materially affected our results of operations. According to the National Bureau of Statistics of China, the period-over-period percent changes in the consumer price index for June 2023 and June 2024 were 0.7% and 0.1%, respectively. Although we have not been materially affected by inflation in the past, we may be affected if China experiences higher rates of inflation in the future.

 

11

 

 

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 million of assessable profits will be lowered to 8.25% (half of the rate specified in Schedule 8 to the Inland Revenue Ordinance (IRO)) for corporations. The Group was not subject to Hong Kong profit tax for any period presented as it did not have assessable profit during the periods presented.

 

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, 2023, JYD SZGJHY, JYD SM, JYD XC, JYD BG, JYD XYX, JYD NJWL, JYD DS, JYD SHWL, JYD YCKJ, were recognized as small low-profit enterprises, and JYD WLKJ and JYD RHTD was recognized as a general taxpayer whose applicable tax rate is 25.0%. For the six months ended June 30, 2024, Oranda and JNT, two newly acquired subsidiaries, were recognized as small low-profit enterprises. 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, 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”.

 

United States

 

Joyed Logistics Services Inc, which was incorporated in Georgia, United States in April 2023, is subject to statutory U.S. Federal corporate income tax at a rate of 21% for six months ended June 30, 2023 and 2024.

 

CRITICAL ACCOUNTING ESTIMATES

 

We prepare our consolidated financial statements in accordance with U.S. GAAP, which requires us to make judgments, estimates and assumptions. To the extent that there are material differences between these estimates and actual results, our financial condition or results of operations would be affected. We base our estimates and assumptions on our own historical data and other assumptions that we believe are reasonable after taking account of our circumstances and expectations for the future based on available information. We evaluate these estimates and assumptions on an ongoing basis.

 

Our expectations regarding the future are based on available information and assumptions that we believe to be reasonable and accurate, which together form our basis for making judgments about matters that are not readily apparent from other sources. Since the use of estimates is an integral component of the financial reporting process, our actual results could differ from those estimates. Some of our accounting policies require a higher degree of judgment than others in their application.

 

12

 

 

The critical accounting policies, judgments and estimates that we believe to have the most significant impact on our consolidated financial statements are described below, which should be read in conjunction with our consolidated financial statements and accompanying notes and other disclosures included in this annual report.

 

When reviewing our financial statements, you should consider:

 

●

our selection of critical accounting policies;

 

●

the judgments and other uncertainties affecting the application of such policies;

 

●

the sensitivity of reported results to changes in conditions and assumption.

 

Our critical accounting policies and practices include the following: (i) revenue recognition; (ii) accounts receivable, net; and (iii) income taxes. See Note 2—Summary of Significant Accounting Policies to our interim condensed consolidated financial statements for the disclosure of these accounting policies. We believe the following accounting estimates involve the most significant judgments used in the preparation of our financial statements.

 

We consider an accounting estimate to be critical if: (i) the accounting estimate requires us to make assumptions about matters that were highly uncertain at the time the accounting estimate was made, and (ii) changes in the estimate that are reasonably likely to occur from period to period or use of different estimates that we reasonably could have used in the current period, would have a material impact on our financial condition or results of operations. We consider our critical accounting estimates include (i) the allowance of credit loss for accounts receivables, contract assets and prepaid expenses and other current asset, (ii) impairment of long-lived assets, (iii) valuation allowance of deferred tax assets.

 

The allowance of credit loss for accounts receivables and contract assets

 

Accounts receivables are recorded net of an allowance for credit losses. The Company’s estimation of allowance for credit losses considers factors such as historical credit loss experience, age of receivable balances, current market conditions, reasonable and supportable forecasts of future economic conditions, as well as an assessment of receivables due from specific identifiable counterparties to determine whether these receivables are considered at risk or uncollectible. The Company evaluates its accounts receivable for expected credit losses on a regular basis. The Company maintains an estimated allowance for credit losses to reduce its accounts receivable to the amount that it believes will be collected. The Company considers factors in assessing the collectability of its receivables, such as the age of the amounts due, the customer’s payment history, credit-worthiness and other specific circumstances related to the accounts. The Company adjusts the allowance percentage periodically when there are significant differences between estimated bad debts and actual bad debts. If there is strong evidence indicating that the accounts receivable is likely to be unrecoverable, the Company also makes specific allowance in the period in which a loss is determined to be probable. Accounts receivable balances are written off after all collection efforts have been exhausted. The allowance for credit losses for accounts receivable was RMB10.2 million and RMB8.1 million (US$1.1 million) as of December 31, 2023 and June 30, 2024, respectively. The allowance for credit losses for contract assets was RMB0.04 million and RMB0.1 million (US$0.01 million) as of December 31, 2023 and June 30, 2024, respectively.

 

13

 

 

The allowance for credit losses for prepayments and other assets

 

Prepayment and other assets primarily consist of Deposits, advances to suppliers, Tax/expenses paid on behalf of clients, Loan & interest receivable and Other receivables. Prepayment and other assets are classified as either current or non-current based on the terms of the respective agreements. These advances are unsecured and are reviewed periodically to determine whether their carrying value has become impaired. The Company considers the assets to be impaired if the collectability of the advance becomes doubtful. The Company uses the aging method to estimate the allowance for uncollectible balances. The allowance is also based on management’s best estimate of specific losses on individual exposures, as well as a provision on historical trends of collections and utilizations. Actual amounts received or utilized may differ from management’s estimate of credit worthiness and the economic environment. The allowance for credit losses were RMB9.0 million and RMB9.2 million (US$1.3 million) as of December 31, 2023 and June 30, 2024, respectively.

 

Impairment of long-lived assets

 

All long-lived assets of the Company, which include tangible long-lived assets, right-of-used assets and intangible long-lived assets with finite lives, are reviewed for impairment whenever events or changes in circumstances indicate that the carrying amount of an asset may not be recoverable. Recoverability of long-lived assets to be held and used is measured by a comparison of the carrying amount of the asset to the estimated undiscounted future cash flows expected to be generated by the assets. If the carrying amount of an asset exceeds its estimated future undiscounted cash flows, an impairment loss is recognized for the difference between the carrying amount of the asset and its fair value.

 

The judgments and estimates involved in identifying and quantifying the impairment of long-lived assets involve inherent uncertainties, and the measurement of the fair value is dependent on the accuracy of the assumptions used in making the estimates and how those estimates compare to our future operating performance. The key assumptions and estimates include projections of future operating results and cash flows of each asset group that are based on internal budgets and strategic plans, historical performance and growth rate, and the effects of external factors and market conditions. Changes in these estimates and assumptions could materially affect the estimated fair value of each asset group that could result in an impairment charge to reduce the carrying value of long-lived assets, which could be material to our financial position and results of operations.

 

We recorded nil and RMB1 million (US$0.1 million) impairment of long-lived assets for the six months ended June 30, 2023 and 2024, respectively.

 

Valuation allowance of deferred tax assets

 

Deferred income taxes are provided using assets and liabilities method, which requires the recognition of deferred tax assets and liabilities for the expected future tax consequences of events that have been included in the financial statements. Under this method, deferred tax assets and liabilities are determined on the basis of the differences between financial statements and tax basis of assets and liabilities using enacted tax rates in effect for the year in which the differences are expected to reverse. Deferred tax assets are recognized to the extent that these assets are more likely than not to be realized. In making such a determination, the management consider all positive and negative evidence, including future reversals of projected future taxable income and results of recent operation. Deferred tax assets are then reduced by a valuation allowance through a charge to income tax expense when, in the opinion of management, it is more likely than not that a portion of or all of the deferred tax assets will not be realized.

 

The ultimate realization of deferred tax assets is dependent upon the generation of future taxable income during the periods in which those temporary differences become deductible. Management considers the cumulative earnings and projected future taxable income in making this assessment. Recovery of substantially all of the Company’s deferred tax assets is dependent upon the generation of future income, exclusive of reversing taxable temporary differences. Based upon the level of historical taxable income and projections for future taxable income over the periods in which the deferred tax assets are recoverable, valuation allowances of RMB12.7 million and RMB23.8 million (US$3.3 million) were provided for the Company’s certain subsidiaries with continuous losses as of December 31, 2023 and June 30, 2024. As of December 31, 2023 and June 30, 2024, there were approximately RMB66.3 million and RMB95.6 million net operating losses carryforwards in certain subsidiaries, respectively. Most of the net operating tax loss carryforwards will expire from remainder of fiscal year 2024 to 2029.

 

14

 

 

Recent Accounting Pronouncements

 

A list of recently issued accounting pronouncements that are relevant to us is included in Note 2 to our condensed interim consolidated financial statements.

 

QUANTITATIVE AND QUALITATIVE DISCLOSURES ABOUT MARKET RISK

 

Credit Risk

 

Financial instruments that potentially expose us to concentrations of credit risk consist primarily of cash and accounts receivable. We place substantially all of our cash with financial institutions with high credit ratings and quality in China. In the event of bankruptcy of one of these financial institutions, we may not be able to claim its cash and demand deposits back in full. We continue to monitor the financial strength of the financial institutions. There has been no recent history of default in relation to these financial institutions.

 

For accounts receivables, credit risk is controlled by the application of credit approvals, limits and monitoring procedures. We manage credit risk through in-house research and analysis of the Chinese economy and the underlying obligors and transaction structures. We identify credit risk collectively based on industry, geography and customer type. In measuring the credit risk of our sales to our customers, we mainly reflect the “probability of default” by the customer on its contractual obligations and considers the current financial position of the customer and the exposures to the customer and its likely future development.

 

Foreign Exchange Risk

 

Our operations are primarily in China. Our reporting currency is denominated in RMB. We are 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 US$. We incurred and recognized foreign currency exchange loss of RMB1.0 million and RMB0.5 million (US$0.1 million) for the six months ended June 30, 2023 and 2024, respectively, as a result of changes in the exchange rate.

 

RECENTLY ADOPTED OR ISSUED ACCOUNTING PRONOUNCEMENTS

 

In November 2023, the FASB issued ASU No. 2023-07 (“ASU 2023-07”), Segment Reporting (Topic 280): Improvements to Reportable Segment Disclosures to improve reportable segment disclosure requirements, primarily through enhanced disclosures about significant segment expenses. ASU 2023-07 will be effective for fiscal years beginning after December 15, 2023 and interim periods beginning after January 1, 2025 on a retrospective basis. Early adoption is permitted. The Group expects the adoption of this ASU will not have a material effect on the unaudited condensed 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.

 

 

15

Document And Entity Information	6 Months Ended
	Jun. 30, 2024
Document Information Line Items
Entity Registrant Name	Jayud Global Logistics Limited
Document Type	6-K/A
Current Fiscal Year End Date	--12-31
Amendment Flag	true
Amendment Description	This Form 6-K/A of Jayud Global Logistics Limited (the “Company”) amends the Company’s report on Form 6-K (the “Original 6-K”) furnished with the U.S. Securities and Exchange Commission (the “SEC”) on October 25, 2024, which provided results for the six months ended June 30, 2024 in connection with the unaudited interim condensed consolidated financial statements as of and for the six months ended June 30, 2024. This Form 6-K/A amends the Original 6-K to include an unaudited condensed consolidated statement of changes in equity, an unaudited condensed consolidated statements of cash flows, and notes to the unaudited condensed consolidated financial statements of the Company. This Form 6-K/A also includes as Exhibit 99.2 the Management’s Discussion and Analysis of Financial Condition and Results of Operations related to the interim financial statements. In addition, this Form 6-K/A includes the interactive data file as Exhibit 101, which provides the unaudited condensed consolidated financial statements of the Company formatted in XBRL (eXtensible business reporting language).The Form 6-K/A and the exhibits to the Form 6-K/A are hereby incorporated by reference into the Company’s registration statement on Form F-3, as amended (File No. 333- 280010), and shall be a part thereof from the date on which this report is furnished, to the extent not superseded by documents or reports subsequently filed or furnished.
Entity Central Index Key	0001938186
Document Period End Date	Jun. 30, 2024
Document Fiscal Year Focus	2024
Document Fiscal Period Focus	Q2
Entity File Number	001-41656

Interim Condensed Consolidated Balance Sheets	Jun. 30, 2024 CNY (¥)	Jun. 30, 2024 USD ($)	Dec. 31, 2023 CNY (¥)
Current assets
Cash	¥ 21,076,691	$ 2,957,385	¥ 26,103,076
Restricted cash			501,952
Accounts receivable, net	46,816,230	6,569,039	41,281,988
Contract assets	2,787,512	391,131	2,023,221
Prepaid expenses and other current assets, net	9,626,088	1,350,689	12,513,878
Total current assets	80,952,094	11,358,827	82,588,973
Non-current assets
Property and equipment, net	973,909	136,654	1,123,976
Intangible asset, net	1,550,055	217,497	1,994,868
Operating right-of-use assets, net	3,685,004	517,063	8,992,535
Deferred offering costs	299,397	42,010
Deferred tax assets, net	4,829,555	677,661	3,689,514
Refundable deposits	1,060,734	148,837	2,060,734
Total non-current assets	12,398,654	1,739,722	17,861,627
TOTAL ASSETS	93,350,748	13,098,549	100,450,600
Current liabilities
Short-term borrowings	21,436,891	3,007,927	25,603,498
Current maturities of long-term borrowing	4,100,000	575,293	4,400,000
Contract liabilities	2,611,792	366,475	4,777,398
Accrued expenses and other current liabilities	13,437,842	1,885,537	7,485,881
Taxes payable	917,728	128,771	513,197
Operating lease liabilities - current	5,067,633	711,067	8,806,671
Total current liabilities	110,266,114	15,472,039	109,611,400
Non-current liabilities
Operating lease liabilities – non-current	2,268,683	318,331	5,216,622
Other payables - shareholders -non-current	6,937,500	973,438	6,937,500
Deferred tax liabilities	980,166	137,530	760,806
Total non-current liabilities	28,521,916	4,002,062	16,571,273
Total liabilities	138,788,030	19,474,101	126,182,673
Commitments and contingencies
Shareholders’deficit
Additional paid in capital	59,999,981	8,418,923	60,423,647
Statutory reserves	764,231	107,233	502,941
Accumulated deficit	(95,650,425)	(13,421,230)	(77,454,208)
Accumulated other comprehensive loss	(1,511,046)	(212,023)	(1,541,653)
Total Jayud Global Logistics Limited shareholders’ deficit	(36,383,385)	(5,105,151)	(18,055,399)
Non-controlling interests	(9,053,897)	(1,270,401)	(7,676,674)
Total shareholders’ deficit	(45,437,282)	(6,375,552)	(25,732,073)
TOTAL LIABILITIES AND SHAREHOLDERS’ DEFICIT	93,350,748	13,098,549	100,450,600
Related Party
Current assets
Accounts receivable - related parties	260,010	36,483
Other receivable - related parties	385,563	54,100	164,858
Current liabilities
Loan payable - a related party			3,000,000
Accounts payable - related parties	18,241,237	2,559,527	6,666,458
Other payables - related parties	738,548	103,630	8,516,645
Non-current liabilities
Loans payable - a related party	2,000,000	280,631
Third Party
Current liabilities
Loans payable - a third party	2,829,023	396,956
Accounts payable - third parties	40,867,407	5,734,328	39,804,623
Non-current liabilities
Loans payable - a third party			2,833,080
Shareholders
Current liabilities
Other payables - shareholders	18,013	2,528	37,029
Non-current liabilities
Loans payable - shareholders	16,335,567	2,292,132	823,265
Class A Ordinary Shares
Shareholders’deficit
Ordinary shares, value	9,787	1,373	9,787
Class B Ordinary Shares
Shareholders’deficit
Ordinary shares, value	¥ 4,087	$ 573	¥ 4,087

Interim Condensed Consolidated Balance Sheets (Parentheticals)	Jun. 30, 2024 ¥ / shares shares	Jun. 30, 2024 $ / shares shares	Dec. 31, 2023 ¥ / shares shares
Class A Ordinary Shares
Ordinary shares, par value (in Dollars per share and Yuan Renminbi per share) | (per share)	¥ 0.0001	$ 0.0001	¥ 0.0001
Ordinary shares, shares authorized	480,000,000	480,000,000	480,000,000
Ordinary shares, shares issued	14,942,623	14,942,623	14,942,623
Ordinary shares, shares outstanding	14,942,623	14,942,623	14,942,623
Class B Ordinary Shares
Ordinary shares, par value (in Dollars per share and Yuan Renminbi per share) | (per share)	¥ 0.0001	$ 0.0001	¥ 0.0001
Ordinary shares, shares authorized	20,000,000	20,000,000	20,000,000
Ordinary shares, shares issued	6,409,600	6,409,600	6,409,600
Ordinary shares, shares outstanding	6,409,600	6,409,600	6,409,600

Interim Condensed Consolidated Statements of Operations and Comprehensive Loss (Unaudited)	6 Months Ended
	Jun. 30, 2024 CNY (¥) ¥ / shares shares	Jun. 30, 2024 USD ($) $ / shares shares	Jun. 30, 2023 CNY (¥) ¥ / shares shares
Total Revenues	¥ 270,607,509	$ 37,970,408	¥ 169,485,253
Total Cost of revenues	(273,319,576)	(38,350,954)	(170,094,397)
Gross loss	(2,712,067)	(380,545)	(609,144)
Operating expenses
Selling expenses	(3,850,752)	(540,320)	(6,373,345)
(Provision for) / reversal of credit losses	1,840,875	258,303	(993,807)
Impairment charges on long-lived assets	(963,867)	(135,245)
Lease termination loss	(310,673)	(43,592)	(1,197,921)
General and administrative expenses	(11,844,976)	(1,662,033)	(13,628,922)
Research and development expenses	(502,278)	(70,477)	(1,755,063)
Total operating expenses	(15,631,671)	(2,193,364)	(23,949,058)
Operating loss	(18,343,738)	(2,573,909)	(24,558,202)
Other expenses
Other (expenses) income, net	74,482	10,451	(241,469)
Foreign exchange loss, net	(464,790)	(65,217)	(974,371)
Financial expenses, net	(1,252,481)	(175,742)	(417,654)
Total other expenses, net	(1,642,789)	(230,508)	(1,633,494)
Loss before income tax expense	(19,986,527)	(2,804,417)	(26,191,696)
Income tax (expenses) benefit	672,393	94,347	(36,339)
Net loss	(19,314,134)	(2,710,070)	(26,228,035)
Less: Net loss attributable to non-controlling interests	(1,379,207)	(193,524)	(2,476,015)
Net loss attributable to the Jayud Global Logistics Limited’s ordinary shareholders	(17,934,927)	(2,516,546)	(23,752,020)
Net loss	(19,314,134)	(2,710,070)	(26,228,035)
Foreign currency translation adjustment, net of tax	(1,329,500)	(186,549)	(2,452,762)
Total comprehensive loss	(20,643,634)	(2,896,619)	(28,680,797)
Less: total comprehensive loss attributable to non-controlling interest	(1,379,207)	(193,524)	(2,476,015)
Total comprehensive loss attributable to Jayud Global Logistics Limited’s ordinary shareholders	¥ (19,264,427)	$ (2,703,095)	¥ (26,204,782)
Net loss per share
Basic (in Dollars per share and Yuan Renminbi per share) | (per share)	¥ (0.84)	$ (0.12)	¥ (1.16)
Diluted (in Dollars per share and Yuan Renminbi per share) | (per share)	¥ (0.84)	$ (0.12)	¥ (1.16)
Weighted average shares
Basic (in Shares)	21,352,223	21,352,223	20,494,426
Diluted (in Shares)	21,352,223	21,352,223	20,494,426
Freight Forwarding
Total Revenues	¥ 162,734,262	$ 22,834,127	¥ 166,182,598
Total Cost of revenues	(139,288,357)	(19,544,306)	(133,365,583)
Freight Forwarding
Total Revenues	609,612	85,538	211,684
Total Cost of revenues	(33,130,090)	(4,648,663)	(34,233,328)
Supply Chain Management and Others
Total Revenues	106,622,319	14,960,756	3,090,971
Total Cost of revenues	(100,901,129)	(14,157,985)	(2,495,486)
Supply Chain Management and Others
Total Revenues	¥ 641,316	$ 89,987

Interim Condensed 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 Loss CNY (¥)	Accumulated Other Comprehensive 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 ($)	CNY (¥)	USD ($)
Balance (in Dollars)	¥ 8,830		¥ 4,087		¥ 72,691,813		¥ (34,823,000)		¥ 4,651,141		¥ (9,025,668)		¥ (181,546)		¥ 33,325,657		¥ (2,428,070)		¥ 30,897,587
Balance at Dec. 31, 2022	¥ 8,830		¥ 4,087		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	13,590,400	6,409,600	6,409,600
Provision for statutory reserve									(1,076,065)		1,076,065
Net loss											(23,752,020)				(23,752,020)		(2,476,015)		(26,228,035)
Issuance of new shares	¥ 976				39,083,572										39,084,622				39,084,622
Issuance of new shares (in Shares) | shares	1,250,000	1,250,000
Issuance of warrants					360,874										360,874				360,874
Reorganization payment					(34,399,708)										(34,399,708)				(34,399,708)
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					(16,101,079)										(16,101,079)				(16,101,079)
Foreign currency translation													(2,252,616)		(2,252,616)				(2,252,616)
Balance at Jun. 30, 2023	¥ 9,880		¥ 4,087		61,635,472				3,575,076		(31,701,623)		(2,434,162)		31,088,730		(4,904,085)		26,184,645
Balance (in Shares) at Jun. 30, 2023 | shares	14,942,623	14,942,623	6,409,600	6,409,600
Balance (in Dollars)	¥ 9,880		¥ 4,087		61,635,472				3,575,076		(31,701,623)		(2,434,162)		31,088,730		(4,904,085)		26,184,645
Balance (in Dollars)	9,787		4,087		60,423,647				502,941		(77,454,208)		(1,541,653)		(18,055,399)		(7,676,674)		(25,732,073)
Balance at Dec. 31, 2023	¥ 9,787		¥ 4,087		60,423,647				502,941		(77,454,208)		(1,541,653)		(18,055,399)		(7,676,674)		(25,732,073)
Balance (in Shares) at Dec. 31, 2023 | shares	14,942,623	14,942,623	6,409,600	6,409,600
Provision for statutory reserve									261,290		(261,290)
Net loss											(17,934,927)				(17,934,927)		(1,379,207)		(19,314,134)	$ (2,710,070)
Business acquisition (note 1(c))					4,654										4,654		1,984		6,638
Others					(428,320)										(428,320)				(428,320)
Foreign currency translation													30,607		30,607				30,607
Balance at Jun. 30, 2024	¥ 9,787	$ 1,373	¥ 4,087	$ 573	59,999,981	$ 8,418,923			764,231	$ 107,233	(95,650,425)	$ (13,421,230)	(1,511,046)	$ (212,023)	(36,383,385)	$ (5,105,151)	(9,053,897)	$ (1,270,401)	(45,437,282)	(6,375,552)
Balance (in Shares) at Jun. 30, 2024 | shares	14,942,623	14,942,623	6,409,600	6,409,600
Balance (in Dollars)	¥ 9,787	$ 1,373	¥ 4,087	$ 573	¥ 59,999,981	$ 8,418,923			¥ 764,231	$ 107,233	¥ (95,650,425)	$ (13,421,230)	¥ (1,511,046)	$ (212,023)	¥ (36,383,385)	$ (5,105,151)	¥ (9,053,897)	$ (1,270,401)	¥ (45,437,282)	$ (6,375,552)

Interim Condensed Consolidated Statements of Cash Flows (Unaudited)	6 Months Ended
	Jun. 30, 2024 CNY (¥)	Jun. 30, 2024 USD ($)	Jun. 30, 2023 CNY (¥)
Cash flows from operating activities:
Net loss	¥ (19,314,134)	$ (2,710,070)	¥ (26,228,035)
Adjustments to reconcile net income to net cash provided by (used in) operating activities:
Provision for (reversal of) credit losses	(1,840,875)	(258,303)	993,807
Lease termination loss	310,673	43,592	1,197,921
Depreciation and amortization	242,022	33,959	496,168
Amortization of operating lease right-of-use asset	2,565,585	359,991	2,432,398
Losses from disposal of property, equipment and software			3,000
Impairment losses of property and equipment	963,867	135,245
Investment losses	33,813	4,744
Deferred tax benefit	(920,680)	(129,186)
Changes in operating assets and liabilities
Accounts receivable, net	(3,464,994)	(486,192)	(21,949,257)
Accounts receivable - related parties	(260,010)	(36,483)	1,676,016
Contract assets	(798,100)	(111,986)	(1,582,304)
Prepaid expenses and other current asset, net	3,753,560	526,682	(7,263,504)
Prepaid expenses - a related party	(260,513)	(36,554)
Accounts payable	894,174	125,466	2,936,793
Accounts payable - related parties	11,574,779	1,624,120	8,912,233
Contract liabilities	(2,165,606)	(303,868)	(425,892)
Accrued expenses and other current liabilities	(2,081,469)	(292,062)	2,149,561
Other payable - shareholders	(19,016)	(2,668)	(24,465)
Other payable - related parties	(2,704)	(380)
Tax payable	404,530	56,761	(2,505,920)
Operating lease liabilities	(4,255,704)	(597,141)	(2,344,457)
Net cash used in operating activities	(14,640,802)	(2,054,333)	(41,525,937)
Cash flows from investing activities:
Acquisition of subsidiary, net of cash acquired	144,431	20,269
Purchase of property, equipment and intangible assets	(611,010)	(85,734)	(2,294,212)
Net cash used in investing activities	(466,579)	(65,465)	(2,294,212)
Proceeds from short-term borrowings	17,743,710	2,489,716	10,000,000
Proceeds from a long-term borrowing
Repayments of short-term borrowings	(21,910,317)	(3,074,356)	(6,300,000)
Repayment of a long-term borrowing	(300,000)	(42,095)	(300,000)
Proceeds from loans provided by shareholders	15,508,245	2,176,046	2,000,000
Proceeds from loans provided by related parties	3,000,000	420,946
Loans repayment to shareholders
Loans repayment to related parties	(4,000,000)	(561,262)
Proceeds from new shares issuance			74,507,913
Payments for deferred offering costs	(513,201)	(72,010)	(9,414,075)
Payments to Initial shareholders			(35,000,000)
Capital injection by a non-controlling interest	20,000	2,806
Other payable - related parties			(709,375)
Net cash provided by financing activities	9,548,437	1,339,791	34,784,463
Effect of exchange rate changes	30,607	4,296	(2,252,616)
Net decrease in cash and cash equivalents and restricted cash	(5,528,337)	(775,711)	(11,288,302)
Total cash and cash equivalents and restricted cash at beginning of the year	26,605,028	3,733,096	28,440,241
Supplemental disclosure of cash flow information:
Income tax paid	172,377	24,187	2,152,341
Interest expense paid	645,490	90,572	463,221
Supplemental non-cash investing and financing information:
Obtaining right-of-use assets in exchange for operating lease liabilities	7,203,051	1,010,699	12,004,719
Dividend distribution included in Other payable - shareholders			6,937,500
Issuance of warrant as share issue cost			360,874
Cash and cash equivalents from business combination	21,076,691	2,957,385	17,151,939
Restricted cash at end of the year			501,695
Cash and cash equivalents at end of the year	¥ 21,076,691	$ 2,957,385	¥ 16,650,244

Organization and Principal Activities	6 Months Ended
	Jun. 30, 2024
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 June 30, 2024, 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 Incorporation /Acquisition   Place of incorporation   Percentage of direct ownership     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 HK (FASTFLY) International Logistics Co., Limited (“FASTFLY”)   JYD HK   April 2, 2024   Hong Kong     51 %   Freight forwarding HYTX Warehouse Inc. (“HYTX”)   JYD US   May 15, 2024   U.S.A.     51 %   Warehousing 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, and Xiamen 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 Qingdao Oranda Supply Chain Management Co., Ltd. (“Oranda”)   JYD WLKJ   January 18, 2024   PRC     51 %   Freight forwarding Shenzhen JNT International Logistics Co.,Ltd (“JNT”)   JYD WLKJ   January 18, 2024   PRC     51 %   Freight forwarding   (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 for share purchase from initial shareholders.   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. 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.

Summary of Significant Accounting Policies	6 Months Ended
	Jun. 30, 2024
Summary of Significant Accounting Policies [Abstract]
SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES	2. SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES   (a) Basis of presentation   The accompanying interim condensed consolidated financial statements have been prepared in accordance with accounting principles generally accepted in the United States of America (“U.S. GAAP”) and pursuant to the rules and regulations of the Securities Exchange Commission (the “SEC”) and have been consistently applied. Certain information or footnote disclosures normally included in financial statements prepared in accordance with GAAP have been condensed or omitted, pursuant to the rules and regulations of the SEC for interim financial reporting. Accordingly, they do not include all the information and footnotes necessary for a comprehensive presentation of financial position, results of operations, or cash flows and should be read in conjunction with the Company’s consolidated financial statements as of December 31, 2022 and 2023. In the opinion of management, the accompanying interim condensed consolidated financial statements include all adjustments, consisting of a normal recurring nature, which are necessary for a fair presentation of the financial position, operating results, and cash flows for the periods presented. Operating results for the interim period ended June 30, 2024 are not necessarily indicative of the results that may be expected for the fiscal year ending December 31, 2023.   (b) Principles of consolidation   The interim condensed 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 interim condensed 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 interim condensed consolidated financial statements.   (d) Foreign currencies and foreign currency translation   The reporting currency of the Group is Renminbi (“RMB”). The financial statements of non-PRC 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. Monetary 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 of RMB 2,452,762 and RMB 1,329,500 (US$ 186,549) for the six months ended June 30, 2023 and 2024, respectively and are shown as a separate component of shareholders’ equity on the interim condensed consolidated financial statement. The following table outlines the currency exchange rates that were used in preparing the interim condensed consolidated financial statements, representing the index rates stipulated by the Bank of China:   HKD against RMB   June 30, 2023   December 31, 2023   June 30, 2024 Year-end spot rate   HKD1=RMB0.9207   HKD1=RMB0.9056   HKD1=RMB0.9126 Average rate   HKD1=RMB0.8883   HKD1=RMB0.8999   HKD1=RMB0.9084   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 loss of RMB 974,371 and RMB 464,790 (US$ 65,217) for the six months ended June 30, 2023 and 2024, respectively, as a result of changes in the exchange rate.   (e) Convenience translation   The United States dollar (“US$”) amounts disclosed in the accompanying interim condensed financial statements are presented solely for the convenience of the readers. Translations of amounts from RMB into US$ for the convenience of the reader were calculated at the rate of US$ 1.00=RMB 7.1268 on June 30, 2024, representing the middle rate as set forth in the statistical release of the Bank of China as of June 30, 2024. 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, 2023 and June 30, 2024, balances of cash were RMB 26,103,076 and RMB 21,076,691 (US$ 2,957,385), respectively. Out of the total cash balances, RMB 3,142,124 and RMB 3,076,631 (US$ 431,699) are dominated in currencies other than RMB as of December 31, 2023 and June 30, 2024, 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 RMB 500,000 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, RMB 501,952 (US$ 70,432) was released from all restrictions, which consisted of principal of RMB 500,000 (US$ 70,158) and accumulated interests of RMB 1,952 (US$ 274).   (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.   Accounts receivable are recorded at the invoiced amount less an allowance for any uncollectible accounts and do not bear interest, and are due on demand. The carrying value of accounts receivable is reduced by an allowance that reflects the Company’s best estimate of the amounts that will not be collected. An allowance for credit losses is recorded in the period when a loss is probable based on an assessment of specific evidence indicating collection is unlikely, historical bad debt rates, accounts aging, financial conditions of the customer and industry trends. Starting from April 1, 2023, the Group adopted ASU No.2016-13 “Financial Instruments – Credit Losses (Topic 326): Measurement of Credit Losses on Financial Instruments” (“ASC Topic 326”). Management also periodically evaluates individual customer’s financial condition, credit history, and the current economic conditions to make adjustments in the allowance when it is considered necessary. Account balances are charged off against the allowance after all means of collection have been exhausted and the potential for recovery is considered remote. The Group’s management continues to evaluate the reasonableness of the valuation allowance policy and update it if necessary. As of December 31, 2023 and June 30, 2024, the Group record allowance for credit loss of RMB 10,196,104 and RMB 8,141,968 (US$ 1,142,444 ) against accounts receivable, respectively.    (i) 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 six months ended June 30, 2024, 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 June 30, 2024, the Group’s property and equipment and ROU assets mainly included machinery, equipment, vehicles, leasehold improvement and operating office and warehouse leases. For the six months ended June 30, 2024, the Group recognized an impairment charge of RMB 396,850 (US$ 55,684) against the property and equipment, RMB 567,017 (US$ 79,561) against the intangible assets for the amount by which the carrying value of the asset group’s long-lived assets exceeded their estimated fair value.   (j) Fair value measurement   The Group applies ASC 820, Fair Value Measurements and Disclosures, (“ASC 820’’). ASC 820 defines fair value, establishes a framework for measuring fair value and expands disclosures about fair value measurements. ASC 820 requires disclosures to be provided on fair value measurement.   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, 2023 and June 30, 2024, 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.   (k) 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 six months ended June 30, 2023 and 2024, respectively:        Six months ended June 30, 2023     Six months ended June 30, 2024   Revenue Categories   (RMB)     %     (RMB)     (US$)     %   Type A: Freight forwarding services     166,394,282       98.2 %     163,343,874       22,919,666       60.3 % - Integrated cross-border logistics     110,622,640       65.3 %     100,212,026       14,061,293       37.0 % - Fragmented logistics     37,106,900       21.9 %     56,784,271       7,967,709       21.0 % - Chartered airline freight services     18,664,742       11.0 %     6,347,577       890,663       2.3 % Type B: Supply chain management     1,292,197       0.8 %     105,500,404       14,803,335       39.0 % - International trading in relation to supply chain management     1,290,954       0.8 %     105,499,754       14,803,243       39.0 % - Agent services     1,243       0.0 %     650       92       0.0 % Type C: Other services     1,798,774       1.0 %     1,763,231       247,409       0.7 % - Customs brokerage     1,687,258       1.0 %     1,763,231       247,409       0.7 % - Software development     111,516       0.0 %     -       -       0.0 % Total     169,485,253       100.0 %     270,607,509       37,970,409       100.0 %    The following table presents revenue classified by timing of revenue recognition for the six months ended June 30, 2023 and 2024, respectively.       Six months ended June 30, 2023     Six months ended June 30, 2024       RMB     RMB     US$   Point in time     1,868,386       108,964,101       14,803,335   Over time     167,616,867       161,643,408       23,167,074   Total revenue     169,485,253       270,607,509       37,970,409   Type A: Freight forwarding services   The Group primarily engages in freight forwarding services, including integrated cross-border logistics, fragmented logistics, and chartered airline freight services. Integrated cross-border logistics and fragmented logistics are indifferent in the revenue recognition analysis, but with different quotation process. Under these two types of freight forwarding 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. These two types of revenue are 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 chartered airline freight services, the Group provides a fixed volume or weight of space capacity on fixed-route air planes for customer transportation during the duration of the contract. The Company fulfills its performance obligation by transporting freights from the origin to the destination. The transaction price is fixed when the contract was signed by both parties, and there will be no variable consideration during transportation. This type of revenue is recognized in straight-line basis over the transit period. Generally, the airplane completes flight transportation service within one day or several hours.   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:       For the six months ended June 30,       2023     2024       RMB     RMB     US$   Revenue recognized that was included in contract liabilities at the beginning of the reporting period:     1,989,310       4,777,398       670,343     Contract assets were RMB 2,023,221 and RMB 2,787,512 (US$ 391,131) as of December 31, 2023 and June 30, 2024, respectively. Contract liabilities related to advance payments from customers were RMB 4,777,398 and RMB 2,611,792 (US$ 366,475) as of December 31, 2023 and June 30, 2024, 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.   (l) 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.   (m) Financial expenses, net   Financial expenses, net mainly consist of (i) interest expenses, net, (ii) foreign exchange gain or loss, and (iii) bank charges. The Group incurred interest expenses, net of RMB 417,654 and RMB 1,252,481 (US$ 175,742) for the six months ended June 30, 2023 and 2024, respectively. The Group incurred foreign exchange loss of RMB 974,371 and RMB 464,790 (US$ 65,217) for the six months ended June 30, 2023 and 2024, respectively.   (n) Non-controlling interests   A non-controlling interest is recognized to reflect the portion of their equity which is not attributable, directly or indirectly, to the Group. Consolidated net income on the consolidated statements of income and comprehensive income includes the net income attributable to non-controlling interests. The cumulative results of operations attributable to non-controlling interests, are recorded as non-controlling interests on the Group’s consolidated balance sheets.     (o) 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. Based on the Group’s assessment, no impairment charges against ROU is needed during the six months ended June 30, 2024.   (p) 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, 2023 and June 30, 2024, 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 the six months ended June 30, 2023 and 2024.   (q) 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 six months ended June 30, 2023 and 2024.   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%.   (r) 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, 2023 and June 30, 2024, there was no dilution impact.   (s) 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. The statutory reserve were RMB 502,941 and RMB 764,231 (US$ 107,233) as of December 31, 2023 and June 30, 2024, respectively.   (t) 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, 2023 and June 30, 2024, RMB 26,103,076 and RMB 21,076,691 (US$ 2,957,385) 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, 2023, one customer accounted for 17.0% of accounts receivable. As of June 30, 2024, two customers accounted for 17.2% and 10.8% of accounts receivable, respectively. For the six months ended June 30, 2023, two customers accounted for approximately 10.9% and 10.8% of the total revenue, respectively. For the six months ended June 30, 2024, one customer accounted for approximately 10.1% of the total revenue.   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, 2023, three suppliers accounted for 20.0%, 14.6%,and 13.5% of the total accounts payable balance, respectively. As of June 30, 2024, two suppliers accounted for 28.9% and 13.7% of the total accounts payable balance. For the six months ended June 30, 2023, two suppliers accounted for 19.9% and 16.3% of the total purchases, respectively. For the six months ended June 30, 2024, two suppliers accounted for 21.2% and 11.7% 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.   (u) Recent accounting pronouncements   In November 2023, the FASB issued ASU No. 2023-07 (“ASU 2023-07”), Segment Reporting (Topic 280): Improvements to Reportable Segment Disclosures to improve reportable segment disclosure requirements, primarily through enhanced disclosures about significant segment expenses. ASU 2023-07 is effective for fiscal years beginning after December 15, 2023 on a retrospective basis. Early adoption is permitted. The Group expects the adoption of this ASU will not have a material effect on the interim condensed 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.

Going Concern	6 Months Ended
	Jun. 30, 2024
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 Interim Condensed Consolidated Financial Statements were available to be issued.   The Group has incurred a net loss of RMB 19,314,134 (US$ 2,710,070) with negative operating flows of RMB 14,640,802 (US$ 2,054,333) for the six months ended June 30, 2024. As of June 30, 2024, there is net working capital deficit of RMB 29,314,020 (US$ 4,113,212) and accumulated deficit of RMB 95,650,425 (US$ 13,421,230). 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 interim condensed consolidated financial statements, the Group has approximately $16 million of shareholder loan (see Note 19).   The Group intends to continue implementing various measures to boost revenue and control the cost and expenses within an acceptable level and other measures including: (1) further enhance the customers bases and credit management in both freight forwarding and supply chain management operations; (2) improve the profitability of the business through more restricted vendor controls; (3) strictly control and reduce general and administration expenses; (4) obtain financing from certain shareholders in forms of long term loans; (5) obtain equity financing by issuance of new shares and (6) seek for certain credit facilities. The Management plan can alleviate the substantial doubt of the Group’s ability to continue as a going concern.   In September 2024, the Group entered into Securities Purchase Agreements (the“Securities Purchase Agreement”) with two accredited investors (the“Purchasers”), pursuant to which the Company received net proceeds of US$ 800,000 in consideration of the issuance of Convertible Debentures (the “Debenture”) in the principal amount of US$ 800,000. These Debentures were converted into the Group’s Class A ordinary shares in October 2024.   In October 2024, the Group entered into Share Purchase Agreements (the “Purchase Agreements”) with certain accredited investors named therein (the“Purchasers”), pursuant to which the Company issued in a private placement an aggregate of 14,793,335 Class A ordinary shares to the Purchasers at a purchase price of US$ 0.45 per share. The Company received gross proceeds of US$ 6,657,000.   The accompanying interim condensed consolidated financial statements do not include any adjustments that might result from the outcome of this uncertainty. Accordingly, the interim condensed 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	6 Months Ended
	Jun. 30, 2024
Accounts Receivable, Net [Abstract]
ACCOUNTS RECEIVABLE, NET	4. ACCOUNTS RECEIVABLE, NET   Accounts receivable consisted of the following:       As of       December 31,     June 30,       2023     2024       RMB     RMB     US$   Accounts receivable     51,478,092       54,958,198       7,711,483   Allowance for credit losses related to accounts receivable     (10,196,104 )     (8,141,968 )     (1,142,444 ) Total accounts receivable, net     41,281,988       46,816,230       6,569,039     The movement of allowance of doubtful accounts is as follows:       As of       December 31,     June 30,       2023     2024       RMB     RMB     US$   Beginning balance     1,185,328       10,196,104       1,430,671   Addition     9,745,364       6,974,931       978,690   Write off     (406,566 )     (5,423 )     (761 ) Reverse     (328,022 )     (9,023,644 )     (1,266,156 ) Ending balance     10,196,104       8,141,968       1,142,444     The Group recorded bad debt expenses of RMB 952,603 and 6,974,931(US$ 978,690) for the six months ended June 30, 2023 and 2024, respectively. For the six months ended June 30, 2024, the Group had written off RMB 5,423 (US$ 761) in bad debt, and made reversal of bad debt of RMB 9,023,644 (US$ 1,266,156).

Prepaid Expenses and Other Current Assets, Net	6 Months Ended
	Jun. 30, 2024
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,     June 30,       2023     2024       RMB     RMB     US$   Advanced to suppliers (a)     1,602,310       2,056,858       288,609   Deposits (b)     9,644,591       8,943,059       1,254,849   Tax/expenses paid on behalf of clients     3,182,361       448,108       62,876   Loan & interest receivable (c)     3,845,273       4,163,442       584,196   Prepaid VAT and other taxes     2,770,436       2,628,647       368,840   Other receivables (d)     442,354       571,383       80,174         21,487,325       18,811,497       2,639,544   Allowance for credit losses related to prepaid expenses and other current assets     (8,973,447 )     (9,185,409 )     (1,288,855 ) Total prepaid expenses and other receivables, net     12,513,878       9,626,088       1,350,689     (a) The balance mainly represents the advance payments made chartered airlines freight services and rent.   (b) The balance mainly represents the current operational deposits for lease and cargo space reservation to vendors.   (c) The balance represents the principal and interests of the loan to Shenzhen Expecs Technology Co., Ltd. (“Expecs”). In May 2022, the Group entered into a term sheet with an intention to acquire Expecs of which core business is to offer services of inspection assistance for China Customs and customs brokerage. The Group prepaid RMB 3.6 million for the planned acquisition during 2022. In July 2023, the Group and Expecs signed a loan agreement and the prepayment became a one-year short term loan bearing an annual interest rate of 6%. In July 2024, the loan was extended for one more year due on June 30, 2025.   During the six months ended June 30, 2024, 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 RMB 4,050,273 (US$ 568,316) as of June 30, 2024.   (d) The balance mainly represents the prepaid rent and some advances to employees for routine business or travel needs.   The movement of allowance of doubtful accounts is as follows:       As of       December 31,     June 30,       2023     2024       RMB     RMB     US$   Beginning balance     237,704       8,973,447       1,259,113   Addition     8,761,236       211,962       29,742   Write off     (25,493 )     -       -   Ending balance     8,973,447       9,185,409       1,288,855     The Group recorded bad debt expenses of nil and RMB 211,962 (US$ 29,742) for the the six months ended June 30, 2023 and 2024, respectively. For the six months ended June 30, 2023 and 2024, the Group had written off RMB 25,494 and nil in bad debt, respectively.

Property and Equipment, Net	6 Months Ended
	Jun. 30, 2024
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,     June 30,       2023     2024       RMB     RMB     US$   Motor vehicles     1,485,841       1,485,842       208,486   Electronic equipment     2,033,203       2,162,123       303,379   Machinery     1,139,270       1,238,049       173,717   Other equipment     1,413,753       1,413,753       198,371   Construction in progress     655,987       810,782       113,765   Subtotal     6,728,054       7,110,549       997,718   Less: accumulated depreciation     (3,200,069 )     (3,335,781 )     (468,060 )       3,527,985       3,774,768       529,658   Less: impairment charges     (2,404,009 )     (2,800,859 )     (393,004 ) Property and equipment, net     1,123,976       973,909       136,654     Depreciation expense was RMB 383,238 and RMB 135,711 (US$ 19,042) for the six months ended June 30, 2023 and 2024, respectively.    During the six months ended June 30, 2024, 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 RMB 396,850 (US$ 55,684) 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 six months ended June 30, 2024. 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 six months ended June 30, 2023.

Intangible Assets, Net	6 Months Ended
	Jun. 30, 2024
Intangible Assets, Net [Abstract]
INTANGIBLE ASSETS, NET	7. INTANGIBLE ASSETS, NET   Intangible assets, net consisted of the following:       As of       December 31,     June 30,       2023     2024       RMB     RMB     US$   Software     2,096,218       2,324,733       326,196   Less: accumulated depreciation     (101,350 )     (207,661 )     (29,138 )       1,994,868       2,117,072       297,058   Less: impairment charges     -       (567,017 )     (79,561 ) Intangible assets, net     1,994,868       1,550,055       217,497     Amortization expense was RMB 112,930 and RMB 106,311 (US$ 14,917) for the six months ended June 30, 2023 and 2024, respectively.   During the six months ended June 30, 2024, 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 RMB 567,017 (US$ 79,561) against the intangible assets by the amount by which the carrying value of the asset group’s long-lived assets exceeded their estimated fair value for the six months ended June 30, 2024. 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 six months ended June 30, 2023.

Short-Term Borrowings	6 Months Ended
	Jun. 30, 2024
Short-Term Borrowings [Abstract]
SHORT-TERM BORROWINGS	8. 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,     June 30,       2023     2024       RMB     RMB     US$   Bank of China Shenzhen Nantou Branch (a)     6,300,000       -       -   Industrial and Commercial Bank of China (b)     3,000,000       6,000,000       841,892   Shenzhen Futian Yinzuo Rural Bank(c)     1,559,968       994,194       139,501   Bank of China Shenzhen Dongbu Branch (d)     5,000,000       4,400,000       617,389   Bank of China Shenzhen Dongbu Branch (e)     3,000,000       3,000,000       420,946   Bank of Ningbo (f)     6,743,530       7,042,697       988,199   Total     25,603,498       21,436,891       3,007,927     (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 RMB 5,000,000(US$ 701,577) with one-year term with an interest rate of 4.1%. On May 9, 2023, JYD WLKJ entered into another working capital loan agreement with Bank of China Shenzhen Nantou Branch in the total amount of RMB 2,000,000(US$ 280,631) with one-year term with an interest rate of 3.8%. The loan was guaranteed by Shenzhen Gaoxintou SE Financing Guarantee Co., LTD and shareholders of the Group (Xiaogang Geng and Xiaohua Jia). As of December 31, 2023, RMB 700,000(US$ 98,221) was repaid, and total amount of RMB 6,300,000(US$ 883,987) was outstanding for these two loans. During the six months ended June 30, 2024, the total outstanding loan was fully repaid when it was due.   (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 RMB 3,000,000 (US$ 420,946) with a half-year term with an interest rate of 4.65%. The loan was renewed every six month. In March 2024, the term of the loan was extended to one year, due in March 2025. The interests on the loan was 3.45%. In June 2024, JYD DS entered into a series of loan agreements with Industrial and Commercial Bank of China in the total amount of RMB 3,000,000 (US$ 420,946) with an interest rate of 3.45%. These loans are all due on May 31, 2025.   (c) On June 27, 2022, JYD WLKJ entered into a loan agreement with Shenzhen Futian Yinzuo Rural Bank in the total amount of RMB 2,000,000 (US$ 280,631) 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 RMB 2,000,000 (US$ 280,631) with an interest rate of 10.512% with one-year term. As of December 31, 2023, RMB 440,032 (US$ 61,743) was repaid, and RMB 1,559,968 (US$ 218,888) was outstanding. As of June 30, 2024, RMB 565,774 (US$ 79,387) was repaid, and RMB 994,194 (US$ 139,501) was outstanding. In July 2024, the loan was fully repaid when it was due.   (d) On November 22, 2023, JYD HQ entered into a one-year maturity loan agreement with Bank of China Shenzhen Dongbu Branch in the total amount of RMB 5,000,000(US$ 701,577) with an interest rate of 3.6%. The loan was guaranteed by Shenzhen SME Financing Guarantee Co., LTD. and shareholders of the Group (Xiaogang Geng and Xiaohua Jia). As of June 30, 2024, RMB 600,000 (US$ 84,189) was repaid, and RMB 4,400,000 (US$ 617,389) was outstanding.   (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 RMB 3,000,000(US$ 420,946) with an interest rate of 3.75%. In October 2024, the loan was fully repaid when it was due.   (f) On November 8, 2023, JYD NJWL entered into a one-year revolving credit agreement with Bank of Ningbo with the maximum amount of USD1,000,000 with an interest rate of 6.5%. The loan was guaranteed by JYD WLKJ. RMB 6,743,530 (US$ 946,221) was the loan balance as of December 31, 2023. During the six months ended June 30, 2024, RMB 11,743,710 (US$ 1,647,824) was withdrawn and RMB 11,444,543 (US$ 1,605,846) was repaid. As of June 30, 2024, RMB 7,042,697 (US$ 988,199) was outstanding. The loan was fully repaid when it is due in November 2024.   Interest expenses were RMB 191,599 and RMB 512,153 (US 71,863) for short-term borrowings for the six months ended June 30, 2023 and 2024, respectively.

Loans Payable - A Third Party	6 Months Ended
	Jun. 30, 2024
Loans Payable - A Third Party [Abstract]
LOANS PAYABLE - A THIRD PARTY	9. LOANS PAYABLE - A THIRD PARTY   On December 13, 2023, the Company borrowed a loan from Boknap Logistics(HK) Ltd. of RMB 2,833,080 (USD 400,000) for 18 months with interest rate of 6%. The loan was classified as long term debt as of December 31, 2023 and as short term debt as of June 30, 2024. As of June 30, 2024, principal of RMB 2,829,023 (US$ 396,956) and accumulated interests of RMB 115,633 (US$ 16,225) were outstanding. In October 2024, RMB 2,138,040 (US$ 300,000) was repaid.

Accrued Expenses and Other Current Liabilities	6 Months Ended
	Jun. 30, 2024
Accrued Expenses and Other Current Liabilities [Abstract]
ACCRUED EXPENSES AND OTHER CURRENT LIABILITIES	10. ACCRUED EXPENSES AND OTHER CURRENT LIABILITIES       As of       December 31,     June 30,       2023     2024       RMB     RMB     US$   Accrued payroll and employee benefits     3,416,836       4,038,505       566,665   Payable to third parties (a)     1,818,200       7,280,590       1,021,579   Deposit payable     2,017,770       1,574,810       220,970   Others     233,075       543,937       76,323   Total     7,485,881       13,437,842       1,885,537     (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, 2023 and June 30, 2024.

Leases	6 Months Ended
	Jun. 30, 2024
Leases [Abstract]
LEASES	11. LEASES   Supplemental balance sheet information related to operating lease was as follows:       As of       December 31,     June 30,       2023     2024       RMB     RMB     US$   Right-of-use assets     12,237,211       6,414,655       900,075   Less: impairment     (3,244,676 )     (2,729,651 )     (383,012 ) Right-of-use assets     8,992,535       3,685,004       517,063                             Operating lease liabilities – current     8,806,671       5,067,633       711,067   Operating lease liabilities – non-current     5,216,622       2,268,683       318,331   Total operating lease liabilities     14,023,293       7,336,316       1,029,398     The weighted average remaining lease terms and discount rates for the operating lease as of June 30, 2024 were as follows:   Remaining lease term and discount rate:       Weighted average remaining lease term (years)     2.57   Weighted average discount rate     4.2 %   A summary of lease expenses recognized in the consolidated statements of operations as of June 30, 2024 and supplemental cash flow information related to operating leases were as follows:       As of       December 31,     June 30,       2023     2024       RMB     RMB     US$   Lease expense                   Operating lease expense - third party     10,148,284       2,058,621       288,856   Short-term lease expense     15,056,781       7,615,047       1,068,509   Sublease income (1)     (707,009 )     (3,056,058 )     (428,812 ) Total lease expense     24,498,055       6,617,610       928,553                             Other information                         Cash paid for operating leases     8,543,549       3,003,868       421,489   Right-of-use assets obtained in exchange for operating new lease liabilities     15,838,886       5,229,722       733,811     * (1) For the six months ended June 30, 2024, the Group incurred sublease income of RMB 3,056,058 (US$ 428,812), and sublease cost of RMB 2,913,502 (US$ 408,809).   During the six months ended June 30, 2023 and 2024, the Group incurred total operating lease expenses of RMB 2,432,398 and RMB 6,617,610 (US$ 928,553), respectively.   The following is a schedule of future minimum payments under the Group’s operating leases as of June 30, 2024:   Year   Amounts       RMB     US$   Remainder of 2024     2,989,195       419,430   2025     2,613,699       366,742   2026     695,993       97,659   2027     535,095       75,082   2028     330,827       46,420   Thereafter     578,078       81,113   Total lease payments     7,742,886       1,086,446   Less: imputed interest     406,570       57,048   Total operating lease liabilities, net of interest     7,336,316       1,029,398     The Company recognized a lease termination loss of RMB 1,197,921 and RMB 310,673 (US$ 43,592), which is included in Lease termination loss on the Interim Condensed Consolidated Statement of Operations and Comprehensive Income / (Loss) for the six months ended June 30, 2023 and 2024, respectively, related to the early termination of warehouse.

Long-Term Borrowing	6 Months Ended
	Jun. 30, 2024
Long-Term Borrowing [Abstract]
LONG-TERM BORROWING	12. LONG-TERM BORROWING   On December 23, 2022, JYD SM entered into a loan agreement with Postal Savings Bank of China in the total amount of RMB 5,000,000(US$ 701,577) 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, RMB 50,000(US$ 7,016) will be paid monthly starting from January 2023 until December 2024, and remaining balance of RMB 3,800,000 (US$ 533,199) will be paid at the end of the loan term. As of December 31, 2023, RMB 600,000 (US$ 84,189) was repaid, and RMB 4,400,000 (US$ 617,388) was outstanding and reclassed to current liability as current maturities of long-term borrowing. As of June 30, 2024, RMB 4,100,000 (US$ 575,293) was outstanding.   Interest expenses were RMB 96,239 and RMB 90,188 (US 12,655) for long-term borrowings for the six months ended June 30, 2023 and 2024, respectively.

Taxation	6 Months Ended
	Jun. 30, 2024
Taxation [Abstract]
TAXATION	13. 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 HKD 2 million of assessable profits will be lowered to 8.25% (half of the rate specified in Schedule 8 to the Inland Revenue Ordinance (IRO)) for corporations. The Group was not subject to Hong Kong profit tax for any period presented as it did not have assessable profit during the periods presented.   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, 2023, JYD SZGJHY, JYD SM, JYD XC, JYD BG, JYD XYX, JYD NJWL, JYD DS, JYD SHWL, JYD YCKJ, were recognized as small low-profit enterprises, and JYD WLKJ and JYD RHTD was recognized as a general taxpayer whose applicable tax rate is 25.0%. For the six months ended June 30, 2024, Oranda and JNT, two newly acquired subsidiaries, were recognized as small low-profit enterprises. Entities with annual taxable income exceeding RMB 3,000,000, total assets exceeding RMB 50,000,000, and their number of employees exceeding 300 are considered general taxpayer. 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 six months ended June 30,       2023     2024       RMB     RMB     US$   Current income tax (benefit) / expenses     (97,584 )     253,886       35,624   Deferred income tax expense / (benefit)     133,923       (926,279 )     (129,971 ) Total income tax expenses / (benefit)     36,339       (672,393 )     (94,347 )   PRC       For the six months ended June 30,       2023     2024       RMB     RMB     US$   Loss before provision for income taxes is attributable to the following geographic locations:                   PRC     (23,476,531 )     (17,599,574 )     (2,469,491 ) Foreign     (2,715,165 )     (2,386,953 )     (334,926 ) Total Loss before Income Taxes     (26,191,696 )     (19,986,527 )     (2,804,417 )   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 six months ended June 30,        2023      2024                  PRC statutory income tax rate     25.0 %     25.0 % Impact of different tax rates in other jurisdictions     (1.8 )%     (3.1 )% Effect of preferential tax rate     (7.2 )%     (10.4 )% Non-deductible items     0.2 %     1.4 % Effect of additional R&D deduction     1.3 %     0.0 % Tax effect on deferred offering costs     1.8 %     0.0 % Change in valuation allowance     (19.4 )%     (9.5 )% Effective tax rate     (0.1 )%     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, 2023 and June 30, 2024, the significant components of the deferred tax assets and deferred tax liability were summarized below:       As of       December 31, 2023     June 30, 2024       RMB     RMB     US$   Deferred tax assets:                   Net operating loss carried forward     10,843,551       27,376,264       3,841,312   Bad debt provision     3,801,660       1,293,365       181,479   Impairment charges     963,398       93,178       13,074   Lease liability     818,974       (98,254 )     (13,787 ) Less: Valuation allowance     (12,738,069 )     (23,834,998 )     (3,344,417 ) Deferred tax assets, net of valuation allowance     3,689,514       4,829,555       677,661     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,     June 30,       2023     2024       RMB     RMB     US$   Deferred tax liabilities:                   Right of use assets     (760,806 )     (980,166 )     (137,530 ) Total deferred tax liabilities     (760,806 )     (980,166 )     (137,530 )   As of June 30, 2024, net operating loss carry forward will expire, if unused, in the following amounts:       Amounts   Remained of 2024     2,851,618   2025     27,602   2026     11,930,662   2027     56,480,637   2028     -   2029     24,341,521         95,632,039     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, 2023 and June 30, 2024, 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, 2023     June 30, 2024       RMB     RMB     US$   Income tax payable     163,527       241,256       33,851   VAT and other taxes payable     349,670       676,472       94,920   Total taxes payable     513,197       917,728       128,771

Equity	6 Months Ended
	Jun. 30, 2024
Equity [Abstract]
EQUITY	14. 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 consideration if the Company fails to achieve a successful IPO.   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 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.   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, 2023 and June 30, 2024, 14,942,623 Class A Ordinary shares were issued and outstanding; 6,409,600 Class B Ordinary shares were issued and outstanding.   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 RMB 360,874 (US$ 50,591).   Capital injection by non-controlling shareholder   In September 2023, the non-controlling shareholder of JYD RHTD made a capital injection of RMB 2,450,000 (US$ 343,773) to JYD RHTD.    In January 2024, the non-controlling shareholder of Oranda made a capital injection of RMB 20,000 (US$ 2,806) to Oranda.   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$ 2,633,721). Out of the total dividend declared, RMB 6,839,000 (US$ 959,617) was inter-group dividend, and RMB 11,931,000 (US$ 1,674,103) was to individual shareholders. As of December 31, 2023 and June 30, 2024, RMB 6,937,500 (US$ 973,438) was outstanding and included in the other payables to shareholders.   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 June 30, 2024, 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 RMB 6.4 million (US$ 0.8 million), respectively.

Non-Controlling Interests	6 Months Ended
	Jun. 30, 2024
Non-Controlling Interests [Abstract]
NON-CONTROLLING INTERESTS	15. NON-CONTROLLING INTERESTS   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.   In January 2024, the Group acquired a 51% equity interest of Qingdao Oranda Supply Chain Management Co., Ltd. (“Oranda”) and 51% equity interest of Shenzhen Jiniu International Logistics Co., Ltd. (“JNT”). Since the Group retains control of Oranda and JNT, the investment from Mr. Ke Zhu of Oranda and Mr. Guojun Niu of JNT were accounted for as non-controlling interests.   In April 2024, the Group and Mr. Guojun Niu acquired a 51% and 49% equity interest of HK (FASTFLY) International Logistics Co., Limited (“FASTFLY”), respectively. Since the Group retains control of FASTLY, the investment from Mr. Guojun Niu was accounted for as non-controlling interest.   In May 2024, JYD US acquired a 51% equity interest of HYTX Warehouse Inc. (“HYTX”). Since the Group retains control of HYTX, the investment from HYTX INC was accounted for as non-controlling interest.   As of December 31, 2023 and June 30, 2024, the balance of non-controlling interest is as following.    Entity   As of December 31, 2023     As of June 30, 2024       RMB     RMB     US$   TYPHK     (164,700 )     (168,873 )     (23,695 ) JYD SHWL     (1,434,739 )     (1,439,448 )     (201,977 ) JYD YCKJ     (9,304,266 )     (11,941,229 )     (1,675,539 ) JYD RHTD     3,277,031       5,069,176       711,284   JNT     -       (94,678 )     (13,285 ) FASTFLY     -       (7,334 )     (1,029 ) Oranda     -       (448,714 )     (62,961 ) HYTX     -       (22,797 )     (3,199 ) Total     (7,676,674 )     (9,053,897 )     (1,270,401 )

Related Party Balances and Transactions	6 Months Ended
	Jun. 30, 2024
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, 2023 and June 30, 2024, accounts receivable from a related party consisted of the following:   Name   Relationship   Nature   As of December 31, 2023     As of June 30, 2024               RMB     RMB     US$   Shenzhen Oranda Global Logistics Limited   80% shares owned by Oranda’s 49% interest minor shareholder   Logistic services               -       86,628       12,155   Xi’an Renrui Hydroacoustic Technology Engineering Co., Ltd (“Renrui”)   40% owned by Bin Li   International trading     -       173,382       24,328                 -       260,010       36,483     Other receivable - related parties   As of December 31, 2023 and June 30, 2024, other receivable from related parties consisted of the following:   Name   Relationship   Nature   As of December 31, 2023     As of June 30, 2024               RMB     RMB     US$   Winpass Logistics (HK) Co., Limited (“Winpass”)   100% controlled by Xiaohua Jia   Net collection on behalf of the Group     125,049       385,563       54,100   Shenzhen Zhongshun Jiean Estate Management Co., Ltd   90% owned by Bao BingBing, management of JYD NJWL   Rent deposit     39,809       -       -                 164,858       385,563       54,100     For the six months ended June 30, 2023, Winpass paid on behalf of Jayud for logistics services acquired abroad in a total amount of RMB 843,730 and collected on behalf of Jayud for logistics services provided abroad in a total amount of RMB 1,137,283. For the six months ended June 30, 2024, Winpass paid on behalf of Jayud for logistics services acquired abroad in a total amount of RMB 1,468,748 (US$ 206,088) and collected on behalf of Jayud for logistics services provided abroad in a total amount of RMB 1,729,262 (US$ 242,642).   Accounts payable - related parties   As of December 31, 2023 and June 30, 2024, accounts payable to related parties consisted of the following:   Name   Relationship   Nature   As of December 31, 2023     As of June 30, 2024               RMB     RMB     US$   Winpass Logistics (HK) Co., Limited   100% controlled by Xiaohua Jia   Logistic services     418,266       540,015       75,772   Cargo Link Logistics HK Company Limited   Owns 33% of shares of Sky Pacific Logistics HK Company Limited   Logistic services     6,248,192       17,109,198       2,400,685   HYTX Logistics LLC   100% shares owned by HYTX’s 49% interest minor shareholder   Logistic services     -       282,463       39,634   Shenzhen Oranda Global Logistics Limited   80% shares owned by Oranda’s 49% interest minor shareholder   Logistic services     -       50,880       7,139   Shenzhen Huanshi Chuangyuan Technology Limited   70% shares owned by Oranda’s 49% interest minor shareholder   Logistic services     -       226,615       31,798   Tianjin Oranda Global Logistics Limited   20% shares owned by Oranda’s 49% interest minor shareholder   Logistic services     -       32,066       4,499                 6,666,458       18,241,237       2,559,527     Loans payable - a related party   As of December 31, 2023 and June 30, 2024, loan payable to a related party consisted of the following:   Name   Relationship   Nature   As of December 31, 2023     As of June 30, 2024               RMB     RMB     US$   Xi’an Renrui Hydroacoustic Technology Engineering Co., Ltd (“Renrui”)   40% owned by Bin Li   Loan     3,000,000       2,000,000       280,631                 3,000,000       2,000,000       280,631     On November 15, 2023, Jayud borrowed a short-term loan from Renrui of RMB 3,000,000 (US$ 420,946) with interest of RMB 30,000 (US$ 4,209) . The principle and interests were fully repaid in January 2024. In April 2024, the Group borrowed a loan of RMB 3,000,000 (US$ 420,946) from Renrui with an interest rate of 6%. The loan is due in September 2025. As of June 30, 2024, principal of RMB 1,000,000 (US$ 140,315) was repaid and RMB 2,000,000 (US$ 280,631) was outstanding. The interest expense on the loan was RMB 47,193 (US$ 6,622) for the six months ended June 30, 2024. In September 2024, RMB 500,000 (US$ 70,158) was repaid to Renrui.   Other payable - related parties   As of December 31, 2023 and June 30, 2024, other payable to related parties consisted of the following:   Name   Relationship   Nature   As of December 31, 2023     As of June 30, 2024               RMB     RMB     US$   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)     686,609       696,712       97,759   Bin Li   Management of JYD SXGYL   Interest Payable (b)     30,000       -       -   Xi’an Renrui Hydroacoustic Technology Engineering Co., Ltd (“Renrui”)   40% owned by Bin Li   Interest Payable (b)     24,643       41,836       5,870   Shenzhen Zhongshun Jiean Estate Management Co., Ltd (“Zhongshun”)   90% owned by BingBing Bao, management of JYD NJWL   Rent payable (c)     7,775,393       -       -                 8,516,645       738,548       103,630     (a) For the six months ended June 30, 2023 and 2024, Cargo Link paid on behalf of Jayud in a total amount of RMB 25,978 and RMB 5,255 (US$ 737), respectively.   (b) On November 15, 2023, the Group borrowed short-term loans from Li Bin and Renrui each of RMB 3,000,000 (US$ 420,946), with loan term of 20 days and 55 days, respectively. Interest was RMB 30,000 for each loan. The principal of RMB 3,000,000 (USD 423,567) from Li Bin was fully repaid in December 2023, and the interest was repaid in January 2024. The balance of RMB 41,836 (US$ 5,870) with Renrui represents the interest payable on the new loan of RMB 3,000,000 (US$ 420,946) borrowed in April 2024.   (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 RMB 7,775,393 (US$ 1,097,801) was outstanding. During the six months ended June 30, 2024, Bao BingBing resigned as management of JYD NJWL. Therefore, Shenzhen Zhongshun Jiean Estate Management Co., Ltd was not related party of the Group as of June 30, 2024.   Other payable – shareholders   As of December 31, 2023 and June 30, 2024, other payable to shareholders consisted of the following:    Name   Relationship   Nature   As of December 31, 2023     As of June 30, 2024               RMB     RMB     US$   Xiaogang Geng   Shareholder and CEO   Interest of shareholder loan     16,465       -       -   Qing Wang   Shareholder   Business Reimbursement Payable     20,564       18,013       2,527                 37,029       18,013       2,527     Loans payable – shareholders   As of December 31, 2023 and June 30, 2024, loans payable to shareholders consisted of the following:    Name   Relationship   Nature   As of December 31, 2023     As of June 30, 2024               RMB     RMB     US$   Huang Jianhong   Shareholder and COO   Loan     -       4,337,897       608,674   Jia Xiaohua   Shareholder   Loan     -       3,667,090       514,549   Peng ZhongLiang   Shareholder   Loan     -       1,002,630       140,684   Wang Qing   Shareholder   Loan     -       305,918       42,925   Yi Yu   Shareholder   Loan     -       6,145,241       862,272   Xiaogang Geng   Shareholder and CEO   Loan     823,265       876,792       123,027                 823,265       16,335,567       2,292,132     In August 2023, the Group borrowed a total amount of RMB 823,265 (US$ 116,236) with 6% interests from Xiaogang Geng. The loan is due in August 2025. During the six months ended June 30, 2024, the Group borrowed a total amount of RMB 15,165,895 (US$ 2,128,009) with 6% interests from six shareholders of the Group with 14~19 months terms. The interest expense on these loans was RMB 346,407 (USD$48,606) during the six months ended June 30, 2024. In October 2024, the Group repaid RMB 828,391 (US$ 116,236) to Xiaogang Geng and RMB 2,614,110 (US$ 366,800) to Xiaohua Jia.   Other payable – shareholders - non-current   As of December 31, 2023 and June 30, 2024, other payable to shareholders consisted of the following:   Name   Relationship   Nature   As of December 31, 2023     As of June 30, 2024               RMB     RMB     US$   Xiaogang Geng   Shareholder and CEO   Dividend     6,225,000       6,225,000       873,464   Xiaohua Jia   Shareholder   Dividend     712,500       712,500       99,975                 6,937,500       6,937,500       973,438     Shareholder transaction   For the six months ended June 30, 2023 and 2024, the Group had the following material shareholder transaction:           For the six months ended June 30,   Shareholder   Nature   2023     2024           RMB     RMB     US$   Xiaogang Geng   Interest expenses of a loan         -       48,401       6,791   Xiaohua Jia   Interest expenses of a loan     -       44,121       6,191   Jianhong Huang   Interest expenses of a loan     -       137,897       19,349   ZhongLiang Peng   Interest expenses of a loan     -       2,630       369   Qing Wang   Interest expenses of a loan     -       5,918       830   Yu Yi   Interest expenses of a loan     -       107,440       15,076     Related party transactions   For the six months ended June 30, 2023 and 2024, the Group had the following material related party transactions:           For the six months ended June 30,   Related Parties   Nature   2023     2024           RMB     RMB     US$   Winpass Logistics (HK) Co., Limited   Purchase of logistic services     227,198       241,479       33,883   Cargo Link Logistics HK Company Limited   Purchase of logistic services     34,006,130       31,986,207       4,488,158   HYTX Logistics LLC   Purchase of logistic services     -       319,460       44,825   Shandong Oranda Logistics Co., Ltd   Purchase of logistic services     -       21,946       3,079   Shenzhen Oranda Global Logistics Limited   Purchase of logistic services     -       264,989       37,182   Shenzhen Huanshi Chuangyuan Technology Limited   Purchase of logistic services     -       264,195       37,071   Tianjin Oranda Global Logistics Limited   Purchase of logistic services     -       31,813       4,464   Shandong Oranda Logistics Co., Ltd   Provided logistic services     -       58,070       8,148   Shenzhen Oranda Global Logistics Limited   Provided logistic services     -       265,190       37,210   Shenzhen Huanshi Chuangyuan Technology Limited   Provided logistic services     -       286,352       40,180   Shenzhen Feijia Supply Chain Management Co., Ltd   Provided logistic services     211,684       -       -   Shenzhen Feijia Supply Chain Management Co., Ltd   Purchase of equipment     122,500       -       -   Xi’an Renrui Hydroacoustic Technology Engineering Co., Ltd   Sales of goods     -       641,316       89,987

Concentration	6 Months Ended
	Jun. 30, 2024
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, 2023 and June 30,2024.       As of December 31, 2023     As of June 30, 2024   Customer   Amount     % of Total     Amount     % of Total     Amount       RMB     %     RMB     %     US$   A     7,025,390       17.0 %     5,100,276       10.8 %     715,647   B     *       *       8,077,588       17.2 %     1,133,410     * 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 six months ended June 30, 2023 and 2024.       For the six months ended June 30,     For the six months ended June 30,       2023     2024   Customer   Amount     % of Total     Amount     % of Total     Amount       RMB           RMB           US$   C     *       *       27,351,614       10.11 %     3,837,853   B     18,481,371       10.9 %     *       *       *   A     18,347,072       10.8 %     *       *       *     * 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, 2023 and June 30,2024.       As of     As of       December 31, 2023     June 30, 2024   Supplier   Amount     % of Total     Amount     % of Total     Amount       RMB           RMB     %     US$   Cargo Link Logistics HK Company Limited     6,248,193       13.5 %     17,024,215       28.9 %     2,388,760   A     9,302,019       20.0 %     *       *       *   B     6,801,207       14.6 %     8,063,592       13.7 %     1,131,446     * 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 six months ended June 30, 2023 and 2024.       For the six months ended June 30,       2023     2024   Supplier   Amount     % of Total     Amount     % of Total     Amount       RMB           RMB           US$   Cargo Link Logistics HK Company Limited     34,006,130       19.9 %     31,986,207       11.7 %     4,488,158   A     *       *       57,953,487       21.2 %     8,131,768   C     27,936,781       16.3 %     *       *       *     * Represented the percentage below 10%

Commitments and Contingencies	6 Months Ended
	Jun. 30, 2024
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 June 30, 2024:       Payments due by period       Total     Within one year     Within 1-2 years     Over 2 years           Operating lease payment     7,742,886       2,989,195       2,613,699       2,139,992   Bank borrowings     25,536,891       25,536,891       -       -   Loan from a related party     2,000,000       2,000,000                   Loans from a third party     2,829,023       2,829,023       -       -   Loan from shareholders     16,335,567       -       16,335,567       -   Total     54,444,367       33,355,109       18,949,266       2,139,992     Other than as shown above, the Company did not have any significant capital and other commitments, long-term obligations, or guarantees as of June 30, 2024.

Business Combination	6 Months Ended
	Jun. 30, 2024
Business Combination [Abstract]
BUSINESS COMBINATION	19. Business Combination   Qingdao Oranda Supply Chain Management Co., Ltd.   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 offers 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. The net assets of Oranda was negative RMB 341 at the time of acquisition. Oranda incurred a net loss of RMB 961,351 from the date of acquisition to June 30, 2024. These amounts are considered insignificant to the Group’s net assets as of June 30, 2024 and net losses for the six months ended June 30, 2024; therefore, no pro forma information of Oranda are presented.   Shenzhen Jiniu International Logistics Co., Ltd.   In January 2024, the Group acquired a 51% stake in Shenzhen Jiniu International Logistics Co., Ltd. (“Jiniu”), located in Shenzhen. Focusing on 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. The net assets of Jiniu was negative RMB 19,755 at the time of acquisition. Jiniu incurred a net loss of RMB 183,146 from the date of acquisition to June 30, 2024. These amounts are considered insignificant to the Group’s net assets as of June 30, 2024 and net losses for the six months ended June 30, 2024; therefore, no pro forma information of Jiniu are presented.   HYTX warehouse Inc.   In April 2024, the Group acquired a 51% stake in HYTX Warehouse Inc. (“HYTX”), a logistics company headquartered in California, U.S.A. The final purchase price will be determined by HYTX’s performance and paid in a combination of cash and the Group’s Class A ordinary shares in 2027, based on HYTX’s average net profit until the end of 2026. The net assets of HYTX was negative RMB 11,960 at the time of acquisition. HYTX incurred a net loss of RMB 39,091 from the date of acquisition to June 30, 2024. These amounts are considered insignificant to the Group’s net assets as of June 30, 2024 and net losses for the six months ended June 30, 2024; therefore, no pro forma information of HYTX are presented.   Acquisition of these companies shall diversify the Group’s existing business portfolio, and broaden the source of income of the Group.   The transactions were accounted for under the acquisition method of accounting in accordance with ASC 805, Business Combinations.   Based on financial statements of the companies above at the time of the acquisition, the fair value of these entities at the time of acquisition was considered immaterial. The Group made a forecast for next three years (up to December 2026) of Oranda, Jiniu and HYTX based on their historical performance, and none of them reaches the minimum required net income amount for receiving any consideration. Thus, the Company concluded that the consideration for these acquisitions are nil.   The contingent payment is more like an incentive to the selling shareholders for transferring their resource into the new companies to achieve long term growth of the companies, which should recognized as the compensation.   An award based on a fixed dollar amount is a liability in accordance with ASC 480-10-25-14. Liability classification is also appropriate for an award that has several possible fixed dollar amount settlements that are not solely or predominantly based on the value of the company’s shares. The compensation for the selling shareholders is calculated based on the average net income for the next three years (up to December 2026), so it should be accounted for as a liability award with a performance condition. The monetary value of the purchase price only fluctuates based on changes in average net income for the next three years, not stock price. Expense would not be recognized until achievement of one of the performance targets is deemed probable. The expense to be recognized would be based on the Company’s best estimate of the ultimate outcome at the end of each reporting period. Once the number of shares are issued, the award would be reclassified to equity.   Based on the Group’s forecast for next three years (up to December 2026) of each acquiree based on their historical performance, none of them reaches the minimum required net income amount for receiving any consideration. Therefore, no expenses or liabilities were recorded as of June 30, 2024.

Subsequent Events	6 Months Ended
	Jun. 30, 2024
Subsequent Events [Abstract]
SUBSEQUENT EVENTS	20. SUBSEQUENT EVENTS   Conversion of Class B shares   In July and September 2024, Xiaogang Geng, the controlling shareholder of the Group, converted total of 1,000,000 Class B shares into Class A shares.   Convertible Debentures   On September 13, 2024, the Group entered into Securities Purchase Agreements (the “Securities Purchase Agreement”) with two accredited investors (the “Purchasers”), pursuant to which the Group received net proceeds of $800,000 in consideration of the issuance of Convertible Debentures (the “Debenture”) in the principal amount of $800,000.   The transactions contemplated under the Securities Purchase Agreements closed on September 13, 2024, September 27, 2024 and October 8, 2024. The Debentures mature on the first-year anniversary of the issuance of the Debenture, bears interest at a rate of 6% per annum to the extent such interest is paid in cash or Class A ordinary shares of the Group, beginning after its original date of issuance at a conversion price at 52% of average of the Volume-Weighted Average Price (“VWAP”) for the five (5) consecutive trading days that is immediately prior to the original issue date, or 52% of the lowest daily VWAP price in the last five (5) trading days immediately prior to conversion.   The principal and accumulated interests were converted into 2,069,382 shares of Class A ordinary shares of the Group on October 22, 2024.   Termination of Acquisition of Qingdao Oranda Supply Chain Management Co., Ltd. (“Oranda”)   On October 10, 2024, the Group and Oranda agreed to terminate the equity purchase agreement dated January 18, 2024, and the 51% equity interests acquired was returned to the original owner of Oranda. No consideration was given to the original owner pursuant to the termination agreement and all parties were relieved of their obligations as a result of the termination.   Acquisition of interests in the companies in the United States   In October 2024, the Group made the following investments in the United States. These strategic investments are part of Jayud’s ongoing efforts to expand its operational footprint in the United States and enhance its comprehensive suite of logistics services.   - On October 19, 2024, the Group acquired 10% equity interests in LD Global Logistics Inc., a licensed customs broke, with 117,115 shares of Class A ordinary shares of the Group as consideration.   - From October 19, 2024 to October 26, 2024, the Group acquired 20% equity interests in HYTX WAREHOUSE NO.3 LLC, 49% equity interests in HYTX WAREHOUSE NO.10 LLC, 95% of YUKON FLOORING BELLAIRE, LLC, and 20% of HYTX WAREHOUSE NO.11 LLC, four warehousing companies in the United States, with 1,680,016 share, 1,568,457 shares, 2,219,828 shares, and 1,704,851 shares of Class A ordinary shares of the Group as consideration, respectively.   New share issuance   In October 2024, the Group entered into Share Purchase Agreements (the “Purchase Agreements”) with certain accredited investors named therein (the “Purchasers”), pursuant to which the Company issued in a private placement an aggregate of 14,793,335 Class A ordinary shares to the Purchasers at a purchase price of US$ 0.45 per share. The closing of the private placement occurred on October 28, 2024 (the “Closing Date”) and the Company received gross proceeds of $6,657,000.   In October 2024, the Group issued 17,261 shares as compensation to its investor relation service provider.   As of October 28, 2024, 40,112,868 Class A Ordinary shares were issued and outstanding; 5,409,600 Class B Ordinary shares were issued and outstanding.   New shareholder loan   In September and November 2024, the Group borrowed a total amount of RMB 2,712,100 (US$ 380,549) and RMB 4,775,000 (US$ 670,006) from Xiaogang Geng, respectively. These loans all bear a 6% interest rate and are due in November and December 2024, respectively. As of the date of the report, total of RMB 5,802,500 (US$ 814,180) was repaid.   New related party loan   In July 2024, the Group borrowed a total amount of RMB 738,000 (US$ 103,553) with no interests from one of its officers. This loan is due in July 2025.   New bank loans   On July 5, 2024, YJD BG entered into a loan agreement with Industrial and Commercial Bank of China in the amount of RMB 1,000,000 (US$ 140,315) with an interest rate of 4.25%. The loan is due on May 31, 2025.   On November 15, 2024, JYD NJWL entered into a one-year maturity loan agreement with Bank of Ningbo in the total amount of USD 500,000 with an interest rate of 5.43%. The loan was guaranteed by JYD WLKJ.   New subsidiaries   In August 2024, the Group set up Ezhou Jayud Logistics Technology Co., Ltd (“JYD Ezhou”), a subsidiary wholly owned by JYD HK. In September 2024, JYD Ezhou set up Ezhou Jayud International Logistics Co., Ltd. (” Ezhou GJHY”) with a non-controlling shareholder and obtained 51% equity interest of Ezhou GJHY.

Accounting Policies, by Policy (Policies)	6 Months Ended
	Jun. 30, 2024
Summary of Significant Accounting Policies [Abstract]
Basis of presentation	(a) Basis of presentation The accompanying interim condensed consolidated financial statements have been prepared in accordance with accounting principles generally accepted in the United States of America (“U.S. GAAP”) and pursuant to the rules and regulations of the Securities Exchange Commission (the “SEC”) and have been consistently applied. Certain information or footnote disclosures normally included in financial statements prepared in accordance with GAAP have been condensed or omitted, pursuant to the rules and regulations of the SEC for interim financial reporting. Accordingly, they do not include all the information and footnotes necessary for a comprehensive presentation of financial position, results of operations, or cash flows and should be read in conjunction with the Company’s consolidated financial statements as of December 31, 2022 and 2023. In the opinion of management, the accompanying interim condensed consolidated financial statements include all adjustments, consisting of a normal recurring nature, which are necessary for a fair presentation of the financial position, operating results, and cash flows for the periods presented. Operating results for the interim period ended June 30, 2024 are not necessarily indicative of the results that may be expected for the fiscal year ending December 31, 2023.
Principles of consolidation	(b) Principles of consolidation The interim condensed 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 interim condensed 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 interim condensed consolidated financial statements.
Foreign currencies and foreign currency translation	(d) Foreign currencies and foreign currency translation The reporting currency of the Group is Renminbi (“RMB”). The financial statements of non-PRC 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. Monetary 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 of RMB 2,452,762 and RMB 1,329,500 (US$ 186,549) for the six months ended June 30, 2023 and 2024, respectively and are shown as a separate component of shareholders’ equity on the interim condensed consolidated financial statement. The following table outlines the currency exchange rates that were used in preparing the interim condensed consolidated financial statements, representing the index rates stipulated by the Bank of China: HKD against RMB   June 30, 2023   December 31, 2023   June 30, 2024 Year-end spot rate   HKD1=RMB0.9207   HKD1=RMB0.9056   HKD1=RMB0.9126 Average rate   HKD1=RMB0.8883   HKD1=RMB0.8999   HKD1=RMB0.9084 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 loss of RMB 974,371 and RMB 464,790 (US$ 65,217) for the six months ended June 30, 2023 and 2024, respectively, as a result of changes in the exchange rate.
Convenience translation	(e) Convenience translation The United States dollar (“US$”) amounts disclosed in the accompanying interim condensed financial statements are presented solely for the convenience of the readers. Translations of amounts from RMB into US$ for the convenience of the reader were calculated at the rate of US$ 1.00=RMB 7.1268 on June 30, 2024, representing the middle rate as set forth in the statistical release of the Bank of China as of June 30, 2024. 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, 2023 and June 30, 2024, balances of cash were RMB 26,103,076 and RMB 21,076,691 (US$ 2,957,385), respectively. Out of the total cash balances, RMB 3,142,124 and RMB 3,076,631 (US$ 431,699) are dominated in currencies other than RMB as of December 31, 2023 and June 30, 2024, 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 RMB 500,000 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, RMB 501,952 (US$ 70,432) was released from all restrictions, which consisted of principal of RMB 500,000 (US$ 70,158) and accumulated interests of RMB 1,952 (US$ 274).
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. Accounts receivable are recorded at the invoiced amount less an allowance for any uncollectible accounts and do not bear interest, and are due on demand. The carrying value of accounts receivable is reduced by an allowance that reflects the Company’s best estimate of the amounts that will not be collected. An allowance for credit losses is recorded in the period when a loss is probable based on an assessment of specific evidence indicating collection is unlikely, historical bad debt rates, accounts aging, financial conditions of the customer and industry trends. Starting from April 1, 2023, the Group adopted ASU No.2016-13 “Financial Instruments – Credit Losses (Topic 326): Measurement of Credit Losses on Financial Instruments” (“ASC Topic 326”). Management also periodically evaluates individual customer’s financial condition, credit history, and the current economic conditions to make adjustments in the allowance when it is considered necessary. Account balances are charged off against the allowance after all means of collection have been exhausted and the potential for recovery is considered remote. The Group’s management continues to evaluate the reasonableness of the valuation allowance policy and update it if necessary. As of December 31, 2023 and June 30, 2024, the Group record allowance for credit loss of RMB 10,196,104 and RMB 8,141,968 (US$ 1,142,444 ) against accounts receivable, respectively.
Impairment of long-lived assets	(i) 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 six months ended June 30, 2024, 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 June 30, 2024, the Group’s property and equipment and ROU assets mainly included machinery, equipment, vehicles, leasehold improvement and operating office and warehouse leases. For the six months ended June 30, 2024, the Group recognized an impairment charge of RMB 396,850 (US$ 55,684) against the property and equipment, RMB 567,017 (US$ 79,561) against the intangible assets for the amount by which the carrying value of the asset group’s long-lived assets exceeded their estimated fair value.
Fair value measurement	(j) Fair value measurement The Group applies ASC 820, Fair Value Measurements and Disclosures, (“ASC 820’’). ASC 820 defines fair value, establishes a framework for measuring fair value and expands disclosures about fair value measurements. ASC 820 requires disclosures to be provided on fair value measurement. 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, 2023 and June 30, 2024, 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	(k) 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 six months ended June 30, 2023 and 2024, respectively:      Six months ended June 30, 2023     Six months ended June 30, 2024   Revenue Categories   (RMB)     %     (RMB)     (US$)     %   Type A: Freight forwarding services     166,394,282       98.2 %     163,343,874       22,919,666       60.3 % - Integrated cross-border logistics     110,622,640       65.3 %     100,212,026       14,061,293       37.0 % - Fragmented logistics     37,106,900       21.9 %     56,784,271       7,967,709       21.0 % - Chartered airline freight services     18,664,742       11.0 %     6,347,577       890,663       2.3 % Type B: Supply chain management     1,292,197       0.8 %     105,500,404       14,803,335       39.0 % - International trading in relation to supply chain management     1,290,954       0.8 %     105,499,754       14,803,243       39.0 % - Agent services     1,243       0.0 %     650       92       0.0 % Type C: Other services     1,798,774       1.0 %     1,763,231       247,409       0.7 % - Customs brokerage     1,687,258       1.0 %     1,763,231       247,409       0.7 % - Software development     111,516       0.0 %     -       -       0.0 % Total     169,485,253       100.0 %     270,607,509       37,970,409       100.0 % The following table presents revenue classified by timing of revenue recognition for the six months ended June 30, 2023 and 2024, respectively.     Six months ended June 30, 2023     Six months ended June 30, 2024       RMB     RMB     US$   Point in time     1,868,386       108,964,101       14,803,335   Over time     167,616,867       161,643,408       23,167,074   Total revenue     169,485,253       270,607,509       37,970,409   Type A: Freight forwarding services The Group primarily engages in freight forwarding services, including integrated cross-border logistics, fragmented logistics, and chartered airline freight services. Integrated cross-border logistics and fragmented logistics are indifferent in the revenue recognition analysis, but with different quotation process. Under these two types of freight forwarding 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. These two types of revenue are 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 chartered airline freight services, the Group provides a fixed volume or weight of space capacity on fixed-route air planes for customer transportation during the duration of the contract. The Company fulfills its performance obligation by transporting freights from the origin to the destination. The transaction price is fixed when the contract was signed by both parties, and there will be no variable consideration during transportation. This type of revenue is recognized in straight-line basis over the transit period. Generally, the airplane completes flight transportation service within one day or several hours. 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:     For the six months ended June 30,       2023     2024       RMB     RMB     US$   Revenue recognized that was included in contract liabilities at the beginning of the reporting period:     1,989,310       4,777,398       670,343   Contract assets were RMB 2,023,221 and RMB 2,787,512 (US$ 391,131) as of December 31, 2023 and June 30, 2024, respectively. Contract liabilities related to advance payments from customers were RMB 4,777,398 and RMB 2,611,792 (US$ 366,475) as of December 31, 2023 and June 30, 2024, 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	(l) 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.
Financial expenses, net	(m) Financial expenses, net Financial expenses, net mainly consist of (i) interest expenses, net, (ii) foreign exchange gain or loss, and (iii) bank charges. The Group incurred interest expenses, net of RMB 417,654 and RMB 1,252,481 (US$ 175,742) for the six months ended June 30, 2023 and 2024, respectively. The Group incurred foreign exchange loss of RMB 974,371 and RMB 464,790 (US$ 65,217) for the six months ended June 30, 2023 and 2024, respectively.
Non-controlling interests	(n) Non-controlling interests A non-controlling interest is recognized to reflect the portion of their equity which is not attributable, directly or indirectly, to the Group. Consolidated net income on the consolidated statements of income and comprehensive income includes the net income attributable to non-controlling interests. The cumulative results of operations attributable to non-controlling interests, are recorded as non-controlling interests on the Group’s consolidated balance sheets.
Leases	(o) 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. Based on the Group’s assessment, no impairment charges against ROU is needed during the six months ended June 30, 2024.
Income taxes	(p) 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, 2023 and June 30, 2024, 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 the six months ended June 30, 2023 and 2024.
Value added tax (“VAT”)	(q) 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 six months ended June 30, 2023 and 2024. 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%.
Earnings per share	(r) 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, 2023 and June 30, 2024, there was no dilution impact.
Statutory reserves	(s) 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. The statutory reserve were RMB 502,941 and RMB 764,231 (US$ 107,233) as of December 31, 2023 and June 30, 2024, respectively.
Concentration of risks	(t) 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, 2023 and June 30, 2024, RMB 26,103,076 and RMB 21,076,691 (US$ 2,957,385) 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, 2023, one customer accounted for 17.0% of accounts receivable. As of June 30, 2024, two customers accounted for 17.2% and 10.8% of accounts receivable, respectively. For the six months ended June 30, 2023, two customers accounted for approximately 10.9% and 10.8% of the total revenue, respectively. For the six months ended June 30, 2024, one customer accounted for approximately 10.1% of the total revenue. 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, 2023, three suppliers accounted for 20.0%, 14.6%,and 13.5% of the total accounts payable balance, respectively. As of June 30, 2024, two suppliers accounted for 28.9% and 13.7% of the total accounts payable balance. For the six months ended June 30, 2023, two suppliers accounted for 19.9% and 16.3% of the total purchases, respectively. For the six months ended June 30, 2024, two suppliers accounted for 21.2% and 11.7% 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	(u) Recent accounting pronouncements In November 2023, the FASB issued ASU No. 2023-07 (“ASU 2023-07”), Segment Reporting (Topic 280): Improvements to Reportable Segment Disclosures to improve reportable segment disclosure requirements, primarily through enhanced disclosures about significant segment expenses. ASU 2023-07 is effective for fiscal years beginning after December 15, 2023 on a retrospective basis. Early adoption is permitted. The Group expects the adoption of this ASU will not have a material effect on the interim condensed 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 Activities (Tables)	6 Months Ended
	Jun. 30, 2024
Organization and Principal Activities [Abstract]
Schedule of Subsidiaries of the Group Are All Owned By the Company through Equity Investment	As of June 30, 2024, 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 Incorporation /Acquisition   Place of incorporation   Percentage of direct ownership     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 HK (FASTFLY) International Logistics Co., Limited (“FASTFLY”)   JYD HK   April 2, 2024   Hong Kong     51 %   Freight forwarding HYTX Warehouse Inc. (“HYTX”)   JYD US   May 15, 2024   U.S.A.     51 %   Warehousing 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, and Xiamen 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 Qingdao Oranda Supply Chain Management Co., Ltd. (“Oranda”)   JYD WLKJ   January 18, 2024   PRC     51 %   Freight forwarding Shenzhen JNT International Logistics Co.,Ltd (“JNT”)   JYD WLKJ   January 18, 2024   PRC     51 %   Freight forwarding

Summary of Significant Accounting Policies (Tables)	6 Months Ended
	Jun. 30, 2024
Summary of Significant Accounting Policies [Abstract]
Schedule of Currency Exchange Rates	The following table outlines the currency exchange rates that were used in preparing the interim condensed consolidated financial statements, representing the index rates stipulated by the Bank of China: HKD against RMB   June 30, 2023   December 31, 2023   June 30, 2024 Year-end spot rate   HKD1=RMB0.9207   HKD1=RMB0.9056   HKD1=RMB0.9126 Average rate   HKD1=RMB0.8883   HKD1=RMB0.8999   HKD1=RMB0.9084
Schedule of the Disaggregation of the Group’s Revenue	The following table identifies the disaggregation of the Group’s revenue for the six months ended June 30, 2023 and 2024, respectively:     Six months ended June 30, 2023     Six months ended June 30, 2024   Revenue Categories   (RMB)     %     (RMB)     (US$)     %   Type A: Freight forwarding services     166,394,282       98.2 %     163,343,874       22,919,666       60.3 % - Integrated cross-border logistics     110,622,640       65.3 %     100,212,026       14,061,293       37.0 % - Fragmented logistics     37,106,900       21.9 %     56,784,271       7,967,709       21.0 % - Chartered airline freight services     18,664,742       11.0 %     6,347,577       890,663       2.3 % Type B: Supply chain management     1,292,197       0.8 %     105,500,404       14,803,335       39.0 % - International trading in relation to supply chain management     1,290,954       0.8 %     105,499,754       14,803,243       39.0 % - Agent services     1,243       0.0 %     650       92       0.0 % Type C: Other services     1,798,774       1.0 %     1,763,231       247,409       0.7 % - Customs brokerage     1,687,258       1.0 %     1,763,231       247,409       0.7 % - Software development     111,516       0.0 %     -       -       0.0 % Total     169,485,253       100.0 %     270,607,509       37,970,409       100.0 %
Schedule of Revenue Recognition	The following table presents revenue classified by timing of revenue recognition for the six months ended June 30, 2023 and 2024, respectively.     Six months ended June 30, 2023     Six months ended June 30, 2024       RMB     RMB     US$   Point in time     1,868,386       108,964,101       14,803,335   Over time     167,616,867       161,643,408       23,167,074   Total revenue     169,485,253       270,607,509       37,970,409
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:     For the six months ended June 30,       2023     2024       RMB     RMB     US$   Revenue recognized that was included in contract liabilities at the beginning of the reporting period:     1,989,310       4,777,398       670,343

Accounts Receivable, Net (Tables)	6 Months Ended
	Jun. 30, 2024
Accounts Receivable, Net [Abstract]
Schedule of Accounts Receivable	Accounts receivable consisted of the following:     As of       December 31,     June 30,       2023     2024       RMB     RMB     US$   Accounts receivable     51,478,092       54,958,198       7,711,483   Allowance for credit losses related to accounts receivable     (10,196,104 )     (8,141,968 )     (1,142,444 ) Total accounts receivable, net     41,281,988       46,816,230       6,569,039
Schedule of Allowance of Doubtful Accounts	The movement of allowance of doubtful accounts is as follows:     As of       December 31,     June 30,       2023     2024       RMB     RMB     US$   Beginning balance     1,185,328       10,196,104       1,430,671   Addition     9,745,364       6,974,931       978,690   Write off     (406,566 )     (5,423 )     (761 ) Reverse     (328,022 )     (9,023,644 )     (1,266,156 ) Ending balance     10,196,104       8,141,968       1,142,444

Prepaid Expenses and Other Current Assets, Net (Tables)	6 Months Ended
	Jun. 30, 2024
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,     June 30,       2023     2024       RMB     RMB     US$   Advanced to suppliers (a)     1,602,310       2,056,858       288,609   Deposits (b)     9,644,591       8,943,059       1,254,849   Tax/expenses paid on behalf of clients     3,182,361       448,108       62,876   Loan & interest receivable (c)     3,845,273       4,163,442       584,196   Prepaid VAT and other taxes     2,770,436       2,628,647       368,840   Other receivables (d)     442,354       571,383       80,174         21,487,325       18,811,497       2,639,544   Allowance for credit losses related to prepaid expenses and other current assets     (8,973,447 )     (9,185,409 )     (1,288,855 ) Total prepaid expenses and other receivables, net     12,513,878       9,626,088       1,350,689   (a) The balance mainly represents the advance payments made chartered airlines freight services and rent. (b) The balance mainly represents the current operational deposits for lease and cargo space reservation to vendors. (c) The balance represents the principal and interests of the loan to Shenzhen Expecs Technology Co., Ltd. (“Expecs”). In May 2022, the Group entered into a term sheet with an intention to acquire Expecs of which core business is to offer services of inspection assistance for China Customs and customs brokerage. The Group prepaid RMB 3.6 million for the planned acquisition during 2022. In July 2023, the Group and Expecs signed a loan agreement and the prepayment became a one-year short term loan bearing an annual interest rate of 6%. In July 2024, the loan was extended for one more year due on June 30, 2025.   During the six months ended June 30, 2024, 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 RMB 4,050,273 (US$ 568,316) as of June 30, 2024. (d) The balance mainly represents the prepaid rent and some advances to employees for routine business or travel needs.
Schedule of Allowance of Doubtful Accounts	The movement of allowance of doubtful accounts is as follows:     As of       December 31,     June 30,       2023     2024       RMB     RMB     US$   Beginning balance     237,704       8,973,447       1,259,113   Addition     8,761,236       211,962       29,742   Write off     (25,493 )     -       -   Ending balance     8,973,447       9,185,409       1,288,855

Property and Equipment, Net (Tables)	6 Months Ended
	Jun. 30, 2024
Property and Equipment, Net [Abstract]
Schedule of Property and Equipment, Net	Property and equipment, net consisted of the following:     As of       December 31,     June 30,       2023     2024       RMB     RMB     US$   Motor vehicles     1,485,841       1,485,842       208,486   Electronic equipment     2,033,203       2,162,123       303,379   Machinery     1,139,270       1,238,049       173,717   Other equipment     1,413,753       1,413,753       198,371   Construction in progress     655,987       810,782       113,765   Subtotal     6,728,054       7,110,549       997,718   Less: accumulated depreciation     (3,200,069 )     (3,335,781 )     (468,060 )       3,527,985       3,774,768       529,658   Less: impairment charges     (2,404,009 )     (2,800,859 )     (393,004 ) Property and equipment, net     1,123,976       973,909       136,654

Intangible Assets, Net (Tables)	6 Months Ended
	Jun. 30, 2024
Intangible Assets, Net [Abstract]
Schedule of Intangible Asset, Net	Intangible assets, net consisted of the following:     As of       December 31,     June 30,       2023     2024       RMB     RMB     US$   Software     2,096,218       2,324,733       326,196   Less: accumulated depreciation     (101,350 )     (207,661 )     (29,138 )       1,994,868       2,117,072       297,058   Less: impairment charges     -       (567,017 )     (79,561 ) Intangible assets, net     1,994,868       1,550,055       217,497

Short-Term Borrowings (Tables)	6 Months Ended
	Jun. 30, 2024
Short-Term Borrowings [Abstract]
Schedule of Short-Term Borrowings	The balance of short-term borrowings consists of the following:     As of       December 31,     June 30,       2023     2024       RMB     RMB     US$   Bank of China Shenzhen Nantou Branch (a)     6,300,000       -       -   Industrial and Commercial Bank of China (b)     3,000,000       6,000,000       841,892   Shenzhen Futian Yinzuo Rural Bank(c)     1,559,968       994,194       139,501   Bank of China Shenzhen Dongbu Branch (d)     5,000,000       4,400,000       617,389   Bank of China Shenzhen Dongbu Branch (e)     3,000,000       3,000,000       420,946   Bank of Ningbo (f)     6,743,530       7,042,697       988,199   Total     25,603,498       21,436,891       3,007,927   (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 RMB 5,000,000(US$ 701,577) with one-year term with an interest rate of 4.1%. On May 9, 2023, JYD WLKJ entered into another working capital loan agreement with Bank of China Shenzhen Nantou Branch in the total amount of RMB 2,000,000(US$ 280,631) with one-year term with an interest rate of 3.8%. The loan was guaranteed by Shenzhen Gaoxintou SE Financing Guarantee Co., LTD and shareholders of the Group (Xiaogang Geng and Xiaohua Jia). As of December 31, 2023, RMB 700,000(US$ 98,221) was repaid, and total amount of RMB 6,300,000(US$ 883,987) was outstanding for these two loans. During the six months ended June 30, 2024, the total outstanding loan was fully repaid when it was due. (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 RMB 3,000,000 (US$ 420,946) with a half-year term with an interest rate of 4.65%. The loan was renewed every six month. In March 2024, the term of the loan was extended to one year, due in March 2025. The interests on the loan was 3.45%. In June 2024, JYD DS entered into a series of loan agreements with Industrial and Commercial Bank of China in the total amount of RMB 3,000,000 (US$ 420,946) with an interest rate of 3.45%. These loans are all due on May 31, 2025. (c) On June 27, 2022, JYD WLKJ entered into a loan agreement with Shenzhen Futian Yinzuo Rural Bank in the total amount of RMB 2,000,000 (US$ 280,631) 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 RMB 2,000,000 (US$ 280,631) with an interest rate of 10.512% with one-year term. As of December 31, 2023, RMB 440,032 (US$ 61,743) was repaid, and RMB 1,559,968 (US$ 218,888) was outstanding. As of June 30, 2024, RMB 565,774 (US$ 79,387) was repaid, and RMB 994,194 (US$ 139,501) was outstanding. In July 2024, the loan was fully repaid when it was due. (d) On November 22, 2023, JYD HQ entered into a one-year maturity loan agreement with Bank of China Shenzhen Dongbu Branch in the total amount of RMB 5,000,000(US$ 701,577) with an interest rate of 3.6%. The loan was guaranteed by Shenzhen SME Financing Guarantee Co., LTD. and shareholders of the Group (Xiaogang Geng and Xiaohua Jia). As of June 30, 2024, RMB 600,000 (US$ 84,189) was repaid, and RMB 4,400,000 (US$ 617,389) was outstanding. (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 RMB 3,000,000(US$ 420,946) with an interest rate of 3.75%. In October 2024, the loan was fully repaid when it was due.   (f) On November 8, 2023, JYD NJWL entered into a one-year revolving credit agreement with Bank of Ningbo with the maximum amount of USD1,000,000 with an interest rate of 6.5%. The loan was guaranteed by JYD WLKJ. RMB 6,743,530 (US$ 946,221) was the loan balance as of December 31, 2023. During the six months ended June 30, 2024, RMB 11,743,710 (US$ 1,647,824) was withdrawn and RMB 11,444,543 (US$ 1,605,846) was repaid. As of June 30, 2024, RMB 7,042,697 (US$ 988,199) was outstanding. The loan was fully repaid when it is due in November 2024.

Accrued Expenses and Other Current Liabilities (Tables)	6 Months Ended
	Jun. 30, 2024
Accrued Expenses and Other Current Liabilities [Abstract]
Schedule of Accrued Expenses and Other Current Liabilities	As of       December 31,     June 30,       2023     2024       RMB     RMB     US$   Accrued payroll and employee benefits     3,416,836       4,038,505       566,665   Payable to third parties (a)     1,818,200       7,280,590       1,021,579   Deposit payable     2,017,770       1,574,810       220,970   Others     233,075       543,937       76,323   Total     7,485,881       13,437,842       1,885,537   (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, 2023 and June 30, 2024.

Leases (Tables)	6 Months Ended
	Jun. 30, 2024
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,     June 30,       2023     2024       RMB     RMB     US$   Right-of-use assets     12,237,211       6,414,655       900,075   Less: impairment     (3,244,676 )     (2,729,651 )     (383,012 ) Right-of-use assets     8,992,535       3,685,004       517,063                             Operating lease liabilities – current     8,806,671       5,067,633       711,067   Operating lease liabilities – non-current     5,216,622       2,268,683       318,331   Total operating lease liabilities     14,023,293       7,336,316       1,029,398
Schedule of Weighted Average Remaining Lease Terms and Discount Rates for Operating Lease	The weighted average remaining lease terms and discount rates for the operating lease as of June 30, 2024 were as follows: Remaining lease term and discount rate:       Weighted average remaining lease term (years)     2.57   Weighted average discount rate     4.2 %
Schedule of Operating Lease Expense	A summary of lease expenses recognized in the consolidated statements of operations as of June 30, 2024 and supplemental cash flow information related to operating leases were as follows:     As of       December 31,     June 30,       2023     2024       RMB     RMB     US$   Lease expense                   Operating lease expense - third party     10,148,284       2,058,621       288,856   Short-term lease expense     15,056,781       7,615,047       1,068,509   Sublease income (1)     (707,009 )     (3,056,058 )     (428,812 ) Total lease expense     24,498,055       6,617,610       928,553                             Other information                         Cash paid for operating leases     8,543,549       3,003,868       421,489   Right-of-use assets obtained in exchange for operating new lease liabilities     15,838,886       5,229,722       733,811   * (1) For the six months ended June 30, 2024, the Group incurred sublease income of RMB 3,056,058 (US$ 428,812), and sublease cost of RMB 2,913,502 (US$ 408,809).
Schedule of Future Minimum Payments	The following is a schedule of future minimum payments under the Group’s operating leases as of June 30, 2024: Year   Amounts       RMB     US$   Remainder of 2024     2,989,195       419,430   2025     2,613,699       366,742   2026     695,993       97,659   2027     535,095       75,082   2028     330,827       46,420   Thereafter     578,078       81,113   Total lease payments     7,742,886       1,086,446   Less: imputed interest     406,570       57,048   Total operating lease liabilities, net of interest     7,336,316       1,029,398

Taxation (Tables)	6 Months Ended
	Jun. 30, 2024
Taxation [Abstract]
Schedule of Income Tax Provision	The income tax provision consisted of the following components:     For the six months ended June 30,       2023     2024       RMB     RMB     US$   Current income tax (benefit) / expenses     (97,584 )     253,886       35,624   Deferred income tax expense / (benefit)     133,923       (926,279 )     (129,971 ) Total income tax expenses / (benefit)     36,339       (672,393 )     (94,347 )
Schedule of Loss Before Provision for Income Taxes	For the six months ended June 30,       2023     2024       RMB     RMB     US$   Loss before provision for income taxes is attributable to the following geographic locations:                   PRC     (23,476,531 )     (17,599,574 )     (2,469,491 ) Foreign     (2,715,165 )     (2,386,953 )     (334,926 ) Total Loss before Income Taxes     (26,191,696 )     (19,986,527 )     (2,804,417 )
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 six months ended June 30,        2023      2024                  PRC statutory income tax rate     25.0 %     25.0 % Impact of different tax rates in other jurisdictions     (1.8 )%     (3.1 )% Effect of preferential tax rate     (7.2 )%     (10.4 )% Non-deductible items     0.2 %     1.4 % Effect of additional R&D deduction     1.3 %     0.0 % Tax effect on deferred offering costs     1.8 %     0.0 % Change in valuation allowance     (19.4 )%     (9.5 )% Effective tax rate     (0.1 )%     3.4 %
Schedule of Deferred Tax Assets and Deferred Tax Liability	As of December 31, 2023 and June 30, 2024, the significant components of the deferred tax assets and deferred tax liability were summarized below:     As of       December 31, 2023     June 30, 2024       RMB     RMB     US$   Deferred tax assets:                   Net operating loss carried forward     10,843,551       27,376,264       3,841,312   Bad debt provision     3,801,660       1,293,365       181,479   Impairment charges     963,398       93,178       13,074   Lease liability     818,974       (98,254 )     (13,787 ) Less: Valuation allowance     (12,738,069 )     (23,834,998 )     (3,344,417 ) Deferred tax assets, net of valuation allowance     3,689,514       4,829,555       677,661     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,     June 30,       2023     2024       RMB     RMB     US$   Deferred tax liabilities:                   Right of use assets     (760,806 )     (980,166 )     (137,530 ) Total deferred tax liabilities     (760,806 )     (980,166 )     (137,530 )
Schedule of Net Operating Loss Carry Forward	As of June 30, 2024, net operating loss carry forward will expire, if unused, in the following amounts:     Amounts   Remained of 2024     2,851,618   2025     27,602   2026     11,930,662   2027     56,480,637   2028     -   2029     24,341,521         95,632,039
Schedule of Taxes Payable	The Group’s taxes payable consists of the following:     As of       December 31, 2023     June 30, 2024       RMB     RMB     US$   Income tax payable     163,527       241,256       33,851   VAT and other taxes payable     349,670       676,472       94,920   Total taxes payable     513,197       917,728       128,771

Non-Controlling Interests (Tables)	6 Months Ended
	Jun. 30, 2024
Non-Controlling Interests [Abstract]
Schedule of the Balance of Non-Controlling Interest	As of December 31, 2023 and June 30, 2024, the balance of non-controlling interest is as following. Entity   As of December 31, 2023     As of June 30, 2024       RMB     RMB     US$   TYPHK     (164,700 )     (168,873 )     (23,695 ) JYD SHWL     (1,434,739 )     (1,439,448 )     (201,977 ) JYD YCKJ     (9,304,266 )     (11,941,229 )     (1,675,539 ) JYD RHTD     3,277,031       5,069,176       711,284   JNT     -       (94,678 )     (13,285 ) FASTFLY     -       (7,334 )     (1,029 ) Oranda     -       (448,714 )     (62,961 ) HYTX     -       (22,797 )     (3,199 ) Total     (7,676,674 )     (9,053,897 )     (1,270,401 )

Related Party Balances and Transactions (Tables)	6 Months Ended
	Jun. 30, 2024
Related Party Balances and Transactions [Abstract]
Schedule of Related Party Balances and Transactions	As of December 31, 2023 and June 30, 2024, accounts receivable from a related party consisted of the following: Name   Relationship   Nature   As of December 31, 2023     As of June 30, 2024               RMB     RMB     US$   Shenzhen Oranda Global Logistics Limited   80% shares owned by Oranda’s 49% interest minor shareholder   Logistic services               -       86,628       12,155   Xi’an Renrui Hydroacoustic Technology Engineering Co., Ltd (“Renrui”)   40% owned by Bin Li   International trading     -       173,382       24,328                 -       260,010       36,483     As of December 31, 2023 and June 30, 2024, other receivable from related parties consisted of the following: Name   Relationship   Nature   As of December 31, 2023     As of June 30, 2024               RMB     RMB     US$   Winpass Logistics (HK) Co., Limited (“Winpass”)   100% controlled by Xiaohua Jia   Net collection on behalf of the Group     125,049       385,563       54,100   Shenzhen Zhongshun Jiean Estate Management Co., Ltd   90% owned by Bao BingBing, management of JYD NJWL   Rent deposit     39,809       -       -                 164,858       385,563       54,100   As of December 31, 2023 and June 30, 2024, accounts payable to related parties consisted of the following: Name   Relationship   Nature   As of December 31, 2023     As of June 30, 2024               RMB     RMB     US$   Winpass Logistics (HK) Co., Limited   100% controlled by Xiaohua Jia   Logistic services     418,266       540,015       75,772   Cargo Link Logistics HK Company Limited   Owns 33% of shares of Sky Pacific Logistics HK Company Limited   Logistic services     6,248,192       17,109,198       2,400,685   HYTX Logistics LLC   100% shares owned by HYTX’s 49% interest minor shareholder   Logistic services     -       282,463       39,634   Shenzhen Oranda Global Logistics Limited   80% shares owned by Oranda’s 49% interest minor shareholder   Logistic services     -       50,880       7,139   Shenzhen Huanshi Chuangyuan Technology Limited   70% shares owned by Oranda’s 49% interest minor shareholder   Logistic services     -       226,615       31,798   Tianjin Oranda Global Logistics Limited   20% shares owned by Oranda’s 49% interest minor shareholder   Logistic services     -       32,066       4,499                 6,666,458       18,241,237       2,559,527     As of December 31, 2023 and June 30, 2024, loan payable to a related party consisted of the following: Name   Relationship   Nature   As of December 31, 2023     As of June 30, 2024               RMB     RMB     US$   Xi’an Renrui Hydroacoustic Technology Engineering Co., Ltd (“Renrui”)   40% owned by Bin Li   Loan     3,000,000       2,000,000       280,631                 3,000,000       2,000,000       280,631   As of December 31, 2023 and June 30, 2024, other payable to related parties consisted of the following: Name   Relationship   Nature   As of December 31, 2023     As of June 30, 2024               RMB     RMB     US$   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)     686,609       696,712       97,759   Bin Li   Management of JYD SXGYL   Interest Payable (b)     30,000       -       -   Xi’an Renrui Hydroacoustic Technology Engineering Co., Ltd (“Renrui”)   40% owned by Bin Li   Interest Payable (b)     24,643       41,836       5,870   Shenzhen Zhongshun Jiean Estate Management Co., Ltd (“Zhongshun”)   90% owned by BingBing Bao, management of JYD NJWL   Rent payable (c)     7,775,393       -       -                 8,516,645       738,548       103,630   (a) For the six months ended June 30, 2023 and 2024, Cargo Link paid on behalf of Jayud in a total amount of RMB 25,978 and RMB 5,255 (US$ 737), respectively. (b) On November 15, 2023, the Group borrowed short-term loans from Li Bin and Renrui each of RMB 3,000,000 (US$ 420,946), with loan term of 20 days and 55 days, respectively. Interest was RMB 30,000 for each loan. The principal of RMB 3,000,000 (USD 423,567) from Li Bin was fully repaid in December 2023, and the interest was repaid in January 2024. The balance of RMB 41,836 (US$ 5,870) with Renrui represents the interest payable on the new loan of RMB 3,000,000 (US$ 420,946) borrowed in April 2024. (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 RMB 7,775,393 (US$ 1,097,801) was outstanding. During the six months ended June 30, 2024, Bao BingBing resigned as management of JYD NJWL. Therefore, Shenzhen Zhongshun Jiean Estate Management Co., Ltd was not related party of the Group as of June 30, 2024.   As of December 31, 2023 and June 30, 2024, other payable to shareholders consisted of the following: Name   Relationship   Nature   As of December 31, 2023     As of June 30, 2024               RMB     RMB     US$   Xiaogang Geng   Shareholder and CEO   Interest of shareholder loan     16,465       -       -   Qing Wang   Shareholder   Business Reimbursement Payable     20,564       18,013       2,527                 37,029       18,013       2,527   As of December 31, 2023 and June 30, 2024, loans payable to shareholders consisted of the following: Name   Relationship   Nature   As of December 31, 2023     As of June 30, 2024               RMB     RMB     US$   Huang Jianhong   Shareholder and COO   Loan     -       4,337,897       608,674   Jia Xiaohua   Shareholder   Loan     -       3,667,090       514,549   Peng ZhongLiang   Shareholder   Loan     -       1,002,630       140,684   Wang Qing   Shareholder   Loan     -       305,918       42,925   Yi Yu   Shareholder   Loan     -       6,145,241       862,272   Xiaogang Geng   Shareholder and CEO   Loan     823,265       876,792       123,027                 823,265       16,335,567       2,292,132   As of December 31, 2023 and June 30, 2024, other payable to shareholders consisted of the following: Name   Relationship   Nature   As of December 31, 2023     As of June 30, 2024               RMB     RMB     US$   Xiaogang Geng   Shareholder and CEO   Dividend     6,225,000       6,225,000       873,464   Xiaohua Jia   Shareholder   Dividend     712,500       712,500       99,975                 6,937,500       6,937,500       973,438     For the six months ended June 30, 2023 and 2024, the Group had the following material shareholder transaction:         For the six months ended June 30,   Shareholder   Nature   2023     2024           RMB     RMB     US$   Xiaogang Geng   Interest expenses of a loan         -       48,401       6,791   Xiaohua Jia   Interest expenses of a loan     -       44,121       6,191   Jianhong Huang   Interest expenses of a loan     -       137,897       19,349   ZhongLiang Peng   Interest expenses of a loan     -       2,630       369   Qing Wang   Interest expenses of a loan     -       5,918       830   Yu Yi   Interest expenses of a loan     -       107,440       15,076   For the six months ended June 30, 2023 and 2024, the Group had the following material related party transactions:         For the six months ended June 30,   Related Parties   Nature   2023     2024           RMB     RMB     US$   Winpass Logistics (HK) Co., Limited   Purchase of logistic services     227,198       241,479       33,883   Cargo Link Logistics HK Company Limited   Purchase of logistic services     34,006,130       31,986,207       4,488,158   HYTX Logistics LLC   Purchase of logistic services     -       319,460       44,825   Shandong Oranda Logistics Co., Ltd   Purchase of logistic services     -       21,946       3,079   Shenzhen Oranda Global Logistics Limited   Purchase of logistic services     -       264,989       37,182   Shenzhen Huanshi Chuangyuan Technology Limited   Purchase of logistic services     -       264,195       37,071   Tianjin Oranda Global Logistics Limited   Purchase of logistic services     -       31,813       4,464   Shandong Oranda Logistics Co., Ltd   Provided logistic services     -       58,070       8,148   Shenzhen Oranda Global Logistics Limited   Provided logistic services     -       265,190       37,210   Shenzhen Huanshi Chuangyuan Technology Limited   Provided logistic services     -       286,352       40,180   Shenzhen Feijia Supply Chain Management Co., Ltd   Provided logistic services     211,684       -       -   Shenzhen Feijia Supply Chain Management Co., Ltd   Purchase of equipment     122,500       -       -   Xi’an Renrui Hydroacoustic Technology Engineering Co., Ltd   Sales of goods     -       641,316       89,987

Concentration (Tables)	6 Months Ended
	Jun. 30, 2024
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, 2023 and June 30,2024.     As of December 31, 2023     As of June 30, 2024   Customer   Amount     % of Total     Amount     % of Total     Amount       RMB     %     RMB     %     US$   A     7,025,390       17.0 %     5,100,276       10.8 %     715,647   B     *       *       8,077,588       17.2 %     1,133,410   * 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 six months ended June 30, 2023 and 2024.     For the six months ended June 30,     For the six months ended June 30,       2023     2024   Customer   Amount     % of Total     Amount     % of Total     Amount       RMB           RMB           US$   C     *       *       27,351,614       10.11 %     3,837,853   B     18,481,371       10.9 %     *       *       *   A     18,347,072       10.8 %     *       *       *   * 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, 2023 and June 30,2024.     As of     As of       December 31, 2023     June 30, 2024   Supplier   Amount     % of Total     Amount     % of Total     Amount       RMB           RMB     %     US$   Cargo Link Logistics HK Company Limited     6,248,193       13.5 %     17,024,215       28.9 %     2,388,760   A     9,302,019       20.0 %     *       *       *   B     6,801,207       14.6 %     8,063,592       13.7 %     1,131,446   * 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 six months ended June 30, 2023 and 2024.     For the six months ended June 30,       2023     2024   Supplier   Amount     % of Total     Amount     % of Total     Amount       RMB           RMB           US$   Cargo Link Logistics HK Company Limited     34,006,130       19.9 %     31,986,207       11.7 %     4,488,158   A     *       *       57,953,487       21.2 %     8,131,768   C     27,936,781       16.3 %     *       *       *   * Represented the percentage below 10%

Commitments and Contingencies (Tables)	6 Months Ended
	Jun. 30, 2024
Commitments and Contingencies [Abstract]
Schedule of Contractual Obligations	The following table sets forth the Company’s contractual obligations as of June 30, 2024:     Payments due by period       Total     Within one year     Within 1-2 years     Over 2 years           Operating lease payment     7,742,886       2,989,195       2,613,699       2,139,992   Bank borrowings     25,536,891       25,536,891       -       -   Loan from a related party     2,000,000       2,000,000                   Loans from a third party     2,829,023       2,829,023       -       -   Loan from shareholders     16,335,567       -       16,335,567       -   Total     54,444,367       33,355,109       18,949,266       2,139,992

Organization and Principal Activities (Details) - Schedule of Subsidiaries of the Group Are All Owned By the Company through Equity Investment	6 Months Ended
	Jun. 30, 2024
Jayud Global Logistics (Hong Kong) Limited (“JYD HK”) [Member]
Schedule of subsidiaries of the group are all owned by the Company through equity investment [Line Items]
Controlled by	Jayud
Date of incorporation/Acquisition	Jun. 24, 2022
Place of incorporation	Hong Kong
Percentage of direct ownership	100.00%
Principal activities	Wholly foreign owned enterprise
Joyed Logistics Services Inc. (“JYD US”) [Member]
Schedule of subsidiaries of the group are all owned by the Company through equity investment [Line Items]
Controlled by	Jayud
Date of incorporation/Acquisition	Apr. 25, 2023
Place of incorporation	U.S.A.
Percentage of direct ownership	100.00%
Principal activities	Freight forwarding
Shenzhen Jayud Logistics Technology Co., Ltd (“JYD WLKJ”) [Member]
Schedule of subsidiaries of the group are all owned by the Company through equity investment [Line Items]
Controlled by	JYD HK
Date of incorporation/Acquisition	Jul. 23, 2015
Place of incorporation	PRC
Percentage of direct ownership	100.00%
Principal activities	Freight forwarding
Hongkong Jayud International Logistics Company Limited (“JYD HKGJHY”) [Member]
Schedule of subsidiaries of the group are all owned by the Company through equity investment [Line Items]
Controlled by	JYD HK
Date of incorporation/Acquisition	Dec. 31, 2017
Place of incorporation	Hong Kong
Percentage of direct ownership	100.00%
Principal activities	Agent service
HK XINYX Technology Limited (“HK XYX”) [Member]
Schedule of subsidiaries of the group are all owned by the Company through equity investment [Line Items]
Controlled by	JYD HK
Date of incorporation/Acquisition	Sep. 06, 2023
Place of incorporation	Hong Kong
Percentage of direct ownership	100.00%
Principal activities	International trading
HK (FASTFLY) International Logistics Co., Limited (“FASTFLY”) [Member]
Schedule of subsidiaries of the group are all owned by the Company through equity investment [Line Items]
Controlled by	JYD HK
Date of incorporation/Acquisition	Apr. 02, 2024
Place of incorporation	Hong Kong
Percentage of direct ownership	51.00%
Principal activities	Freight forwarding
HYTX Warehouse Inc. (“HYTX”) [Member]
Schedule of subsidiaries of the group are all owned by the Company through equity investment [Line Items]
Controlled by	JYD US
Date of incorporation/Acquisition	May 15, 2024
Place of incorporation	U.S.A.
Percentage of direct ownership	51.00%
Principal activities	Warehousing
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 [Line Items]
Controlled by	JYD WLKJ
Date of incorporation/Acquisition	Jun. 19, 2011
Place of incorporation	PRC
Percentage of direct ownership	100.00%
Principal activities	Freight forwarding
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 [Line Items]
Controlled by	JYD WLKJ
Date of incorporation/Acquisition	Sep. 18, 2009
Place of incorporation	PRC
Percentage of direct ownership	100.00%
Principal activities	International trading
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 [Line Items]
Controlled by	JYD WLKJ
Date of incorporation/Acquisition	May 06, 2021
Place of incorporation	PRC
Percentage of direct ownership	100.00%
Principal activities	Freight forwarding
Shenzhen Jiayuda Customs Declaration Co., Ltd. (“JYD BG”) [Member]
Schedule of subsidiaries of the group are all owned by the Company through equity investment [Line Items]
Controlled by	JYD WLKJ
Date of incorporation/Acquisition	Sep. 14, 2015
Place of incorporation	PRC
Percentage of direct ownership	100.00%
Principal activities	Customs brokerage
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 [Line Items]
Controlled by	JYD WLKJ
Date of incorporation/Acquisition	Oct. 26, 2011
Place of incorporation	PRC
Percentage of direct ownership	100.00%
Principal activities	International trading
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 [Line Items]
Controlled by	JYD XYX
Date of incorporation/Acquisition	Jul. 31, 2023
Place of incorporation	PRC
Percentage of direct ownership	51.00%
Principal activities	International trading
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 [Line Items]
Controlled by	JYD WLKJ
Date of incorporation/Acquisition	Apr. 23, 2014
Place of incorporation	PRC
Percentage of direct ownership	100.00%
Principal activities	Freight forwarding
Sky Pacific Logistics HK Company Limited (“TPYHK”) [Member]
Schedule of subsidiaries of the group are all owned by the Company through equity investment [Line Items]
Controlled by	JYD HQ
Date of incorporation/Acquisition	Mar. 02, 2016
Place of incorporation	Hong Kong
Percentage of direct ownership	67.00%
Principal activities	Agent service
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 [Line Items]
Controlled by	JYD WLKJ
Date of incorporation/Acquisition	Apr. 01, 2021
Place of incorporation	PRC
Percentage of direct ownership	100.00%
Principal activities	Freight forwarding
Nanjing Jiayuda Logistics Co., Ltd. And its Nantong Branch, and Xiamen Branch (“JYD NJWL”) [Member]
Schedule of subsidiaries of the group are all owned by the Company through equity investment [Line Items]
Controlled by	JYD WLKJ
Date of incorporation/Acquisition	Feb. 12, 2018
Place of incorporation	PRC
Percentage of direct ownership	100.00%
Principal activities	Freight forwarding
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 [Line Items]
Controlled by	JYD WLKJ
Date of incorporation/Acquisition	Mar. 27, 2018
Place of incorporation	PRC
Percentage of direct ownership	100.00%
Principal activities	Freight forwarding
Cargo Link Company Limited (“JYD SHWL”) [Member]
Schedule of subsidiaries of the group are all owned by the Company through equity investment [Line Items]
Controlled by	JYD WLKJ
Date of incorporation/Acquisition	Nov. 10, 2021
Place of incorporation	PRC
Percentage of direct ownership	51.00%
Principal activities	Freight forwarding
Shenzhen Jayud Yuncang Technology Co., Ltd. (“JYD YCKJ”) [Member]
Schedule of subsidiaries of the group are all owned by the Company through equity investment [Line Items]
Controlled by	JYD WLKJ
Date of incorporation/Acquisition	Jul. 25, 2022
Place of incorporation	PRC
Percentage of direct ownership	52.00%
Principal activities	Warehousing
Qingdao Oranda Supply Chain Management Co., Ltd. (“Oranda”) [Member]
Schedule of subsidiaries of the group are all owned by the Company through equity investment [Line Items]
Controlled by	JYD WLKJ
Date of incorporation/Acquisition	Jan. 18, 2024
Place of incorporation	PRC
Percentage of direct ownership	51.00%
Principal activities	Freight forwarding
Shenzhen JNT International Logistics Co.,Ltd (“JNT”) [Member]
Schedule of subsidiaries of the group are all owned by the Company through equity investment [Line Items]
Controlled by	JYD WLKJ
Date of incorporation/Acquisition	Jan. 18, 2024
Place of incorporation	PRC
Percentage of direct ownership	51.00%
Principal activities	Freight forwarding

Summary of Significant Accounting Policies (Details)		6 Months Ended			12 Months Ended
	Apr. 01, 2019	Jun. 30, 2024 CNY (¥)	Jun. 30, 2024 USD ($)	Jun. 30, 2023 CNY (¥)	Dec. 31, 2023 CNY (¥)	Jun. 30, 2024 USD ($)	Jan. 31, 2024 CNY (¥)	Jan. 31, 2024 USD ($)	Dec. 31, 2023 USD ($)	Dec. 31, 2022 CNY (¥)
Summary of Significant Accounting Policies [Line Items]
Foreign currency translation adjustments		¥ (1,329,500)	$ (186,549)	¥ (2,452,762)
Foreign currency exchange gain		¥ (464,790)	$ (65,217)	(974,371)
Rate of convenience translation		7.1268				7.1268
Operating segment		1	1
Cash		¥ 21,076,691			¥ 26,103,076	$ 2,957,385
Employee outstanding benefit plan		3,076,631	$ 431,699		3,142,124
Deposit (in Yuan Renminbi)		500,000
Cash and Restricted Cash					501,952		¥ 501,952	$ 70,432
Accumulated interests							1,952	274
Allowance for doubtful accounts		¥ 8,141,968			10,196,104	1,142,444			$ 1,430,671	¥ 1,185,328
Maintenance services revenue, term		1 year	1 year
Contract assets		¥ 2,787,512			2,023,221	391,131
Contract with Customer relates advance payments		2,611,792			4,777,398	366,475
Interest Expense		¥ 1,252,481	$ 175,742	¥ 417,654
Percentage on sale of product		13.00%	13.00%	13.00%
Percentage of tax rate on export		17.00%	17.00%
Percentage of tax rate on export rebate		17.00%	17.00%
Percentage of tax adjusted on export rebate		16.00%	16.00%
Percentage of tax on export and border crossing activities		11.00%	11.00%
Percentage of tax rate on Border crossing and rebate		11.00%	11.00%
Percentage of tax rate on export rebate and cross border activities		10.00%	10.00%
VAT rate on sales	16.00%
Adjusted VAT rate on sales	13.00%
Percentage of tax rate on exported goods	16.00%
Percentage of tax refund on export	16.00%
Percentage on adjusted tax of refund	13.00%
Statutory reserve		10.00%	10.00%
Registered capital		50.00%	50.00%
Statutory reserve		¥ 764,231			502,941	107,233
Maximum [Member]
Summary of Significant Accounting Policies [Line Items]
Percentage of deduction tax rate		17.00%	17.00%
Percentage of import tax rate		16.00%	16.00%
Minimum [Member]
Summary of Significant Accounting Policies [Line Items]
Percentage of deduction tax rate		11.00%	11.00%
Percentage of import tax rate		10.00%	10.00%
Foreign Exchange [Member]
Summary of Significant Accounting Policies [Line Items]
Foreign currency exchange gain		¥ 464,790	$ 65,217	¥ 974,371
Credit Concentration Risk [Member]
Summary of Significant Accounting Policies [Line Items]
Cash		21,076,691			¥ 26,103,076	$ 2,957,385
Property, Plant and Equipment [Member]
Summary of Significant Accounting Policies [Line Items]
Impairment charge		396,850	55,684
Intangible Assets [Member]
Summary of Significant Accounting Policies [Line Items]
Impairment charge		¥ 567,017	$ 79,561
Logistics Services One [Member]
Summary of Significant Accounting Policies [Line Items]
Value added tax percentage		0.00%	0.00%
Logistics Services Two [Member]
Summary of Significant Accounting Policies [Line Items]
Value added tax percentage		1.00%	1.00%
Logistics Services Three [Member]
Summary of Significant Accounting Policies [Line Items]
Value added tax percentage		6.00%	6.00%
Logistics Services Four [Member]
Summary of Significant Accounting Policies [Line Items]
Value added tax percentage		9.00%	9.00%
Supplier One [Member] | Supplier Concentration Risk [Member] | Accounts Payable [Member]
Summary of Significant Accounting Policies [Line Items]
Concentration risk percentage		28.90%	28.90%		20.00%
Supplier One [Member] | Supplier Concentration Risk [Member] | Purchases [Member]
Summary of Significant Accounting Policies [Line Items]
Concentration risk percentage		21.20%	21.20%	19.90%
Supplier Two [Member] | Supplier Concentration Risk [Member] | Accounts Payable [Member]
Summary of Significant Accounting Policies [Line Items]
Concentration risk percentage		13.70%	13.70%		14.60%
Supplier Two [Member] | Supplier Concentration Risk [Member] | Purchases [Member]
Summary of Significant Accounting Policies [Line Items]
Concentration risk percentage		11.70%	11.70%	16.30%
Supplier Three [Member] | Supplier Concentration Risk [Member] | Accounts Payable [Member]
Summary of Significant Accounting Policies [Line Items]
Concentration risk percentage					13.50%
Cash [Member]
Summary of Significant Accounting Policies [Line Items]
Cash and Restricted Cash							¥ 500,000	$ 70,158
Customer One [Member] | Customer Concentration Risk [Member] | Accounts Receivable [Member]
Summary of Significant Accounting Policies [Line Items]
Concentration risk percentage		17.20%	17.20%		17.00%
Customer One [Member] | Customer Concentration Risk [Member] | Revenue Benchmark [Member]
Summary of Significant Accounting Policies [Line Items]
Concentration risk percentage		10.10%	10.10%	10.90%
Customer Two [Member] | Customer Concentration Risk [Member] | Accounts Receivable [Member]
Summary of Significant Accounting Policies [Line Items]
Concentration risk percentage		10.80%	10.80%
Customer Two [Member] | Customer Concentration Risk [Member] | Revenue Benchmark [Member]
Summary of Significant Accounting Policies [Line Items]
Concentration risk percentage				10.80%

Summary of Significant Accounting Policies (Details) - Schedule of Currency Exchange Rates	Jun. 30, 2024	Dec. 31, 2023	Jun. 30, 2023
Schedule of Separate Component of Shareholders’ Equity on the Consolidated Financial Statement [Abstract]
Year-end spot rate	0.9126	0.9056	0.9207
Average rate	0.9084	0.8999	0.8883

Summary of Significant Accounting Policies (Details) - Schedule of the Disaggregation of the Group’s Revenue	6 Months Ended
	Jun. 30, 2024 CNY (¥)	Jun. 30, 2024 USD ($)	Jun. 30, 2023 CNY (¥)
Schedule of the Disaggregation of the Group’S Revenue [Line Items]
Freight forwarding services, amount	¥ 163,343,874	$ 22,919,666	¥ 166,394,282
Freight forwarding services, percentage	60.30%	60.30%	98.20%
Supply chain management, amount	¥ 105,500,404	$ 14,803,335	¥ 1,292,197
Supply chain management, percentage	39.00%	39.00%	0.80%
Other services, amount	¥ 1,763,231	$ 247,409	¥ 1,798,774
Other services, percentage	0.70%	0.70%	1.00%
Revenue, total	¥ 270,607,509	$ 37,970,409	¥ 169,485,253
Revenue, percentage	100.00%	100.00%	100.00%
Integrated cross-border logistics [Member]
Schedule of the Disaggregation of the Group’S Revenue [Line Items]
Freight forwarding services, amount	¥ 100,212,026	$ 14,061,293	¥ 110,622,640
Freight forwarding services, percentage	37.00%	37.00%	65.30%
Fragmented logistics [Member]
Schedule of the Disaggregation of the Group’S Revenue [Line Items]
Freight forwarding services, amount	¥ 56,784,271	$ 7,967,709	¥ 37,106,900
Freight forwarding services, percentage	21.00%	21.00%	21.90%
Chartered airline freight services [Member]
Schedule of the Disaggregation of the Group’S Revenue [Line Items]
Freight forwarding services, amount	¥ 6,347,577	$ 890,663	¥ 18,664,742
Freight forwarding services, percentage	2.30%	2.30%	11.00%
International trading in relation to supply chain management [Member]
Schedule of the Disaggregation of the Group’S Revenue [Line Items]
Supply chain management, amount	¥ 105,499,754	$ 14,803,243	¥ 1,290,954
Supply chain management, percentage	39.00%	39.00%	0.80%
Agent services [Member]
Schedule of the Disaggregation of the Group’S Revenue [Line Items]
Supply chain management, amount	¥ 650	$ 92	¥ 1,243
Supply chain management, percentage	0.00%	0.00%	0.00%
Customs brokerage [Member]
Schedule of the Disaggregation of the Group’S Revenue [Line Items]
Other services, amount	¥ 1,763,231	$ 247,409	¥ 1,687,258
Other services, percentage	0.70%	0.70%	1.00%
Software development [Member]
Schedule of the Disaggregation of the Group’S Revenue [Line Items]
Other services, amount			¥ 111,516
Other services, percentage	0.00%	0.00%	0.00%

Summary of Significant Accounting Policies (Details) - Schedule of Revenue Recognition	6 Months Ended
	Jun. 30, 2024 CNY (¥)	Jun. 30, 2024 USD ($)	Jun. 30, 2023 CNY (¥)
Schedule of Revenue Recognition [Line Items]
Total revenue	¥ 270,607,509	$ 37,970,409	¥ 169,485,253
Point in Time [Member]
Schedule of Revenue Recognition [Line Items]
Total revenue	108,964,101	14,803,335	1,868,386
Over Time [Member]
Schedule of Revenue Recognition [Line Items]
Total revenue	¥ 161,643,408	$ 23,167,074	¥ 167,616,867

Summary of Significant Accounting Policies (Details) - Schedule of Contract Liabilities at the Beginning of the Reporting Period	Jun. 30, 2024 CNY (¥)	Jun. 30, 2024 USD ($)	Jun. 30, 2023 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:	¥ 4,777,398	$ 670,343	¥ 1,989,310

Going Concern (Details)		1 Months Ended	6 Months Ended
	Oct. 31, 2024 USD ($) $ / shares	Sep. 30, 2024 USD ($)	Jun. 30, 2024 CNY (¥)	Jun. 30, 2024 USD ($)	Jun. 30, 2023 CNY (¥)	Jun. 30, 2024 USD ($)	Dec. 31, 2023 CNY (¥)
Going Concern [Line Items]
Net loss			¥ (19,314,134)	$ (2,710,070)	¥ (26,228,035)
Operating flows			(14,640,802)	(2,054,333)	¥ (41,525,937)
Working capital deficit			29,314,020			$ 4,113,212
Accumulated deficit			¥ (95,650,425)			$ (13,421,230)	¥ (77,454,208)
Shareholder loan				$ 16,000,000
Forecast [Member]
Going Concern [Line Items]
Net proceeds		$ 800,000
Gross proceeds	$ 6,657,000
Forecast [Member] | Convertible Debentures [Member]
Going Concern [Line Items]
Principal amount		$ 800,000
Forecast [Member] | Class A Ordinary Shares [Member]
Going Concern [Line Items]
Aggregate ordinary shares	$ 14,793,335
Purchase price (in Dollars per share) | $ / shares	$ 0.45

Accounts Receivable, Net (Details)	6 Months Ended			12 Months Ended
	Jun. 30, 2024 CNY (¥)	Jun. 30, 2024 USD ($)	Jun. 30, 2023 CNY (¥)	Dec. 31, 2023 CNY (¥)
Accounts Receivable, Net [Abstract]
Bad debt expenses	¥ 6,974,931	$ 978,690	¥ 952,603
Written off	5,423	761		¥ 406,566
Reversal of bad debt	¥ (9,023,644)	$ (1,266,156)		¥ (328,022)

Accounts Receivable, Net (Details) - Schedule of Accounts Receivable	Jun. 30, 2024 CNY (¥)	Jun. 30, 2024 USD ($)	Dec. 31, 2023 CNY (¥)
Schedule of Accounts Receivable [Abstract]
Accounts receivable	¥ 54,958,198	$ 7,711,483	¥ 51,478,092
Allowance for credit losses related to accounts receivable	(8,141,968)	(1,142,444)	(10,196,104)
Total accounts receivable, net	¥ 46,816,230	$ 6,569,039	¥ 41,281,988

Accounts Receivable, Net (Details) - Schedule of Allowance of Doubtful Accounts	6 Months Ended		12 Months Ended
	Jun. 30, 2024 CNY (¥)	Jun. 30, 2024 USD ($)	Dec. 31, 2023 CNY (¥)
Schedule of Allowance of Doubtful Accounts [Abstract]
Beginning balance	¥ 10,196,104	$ 1,430,671	¥ 1,185,328
Addition	6,974,931	978,690	9,745,364
Write off	(5,423)	(761)	(406,566)
Reverse	(9,023,644)	(1,266,156)	(328,022)
Ending balance	¥ 8,141,968	$ 1,142,444	¥ 10,196,104

Prepaid Expenses and Other Current Assets, Net (Details)	6 Months Ended			12 Months Ended
	Jun. 30, 2024 CNY (¥)	Jun. 30, 2024 USD ($)	Jun. 30, 2023 CNY (¥)	Dec. 31, 2023 CNY (¥)
Prepaid Expenses and Other Current Assets, Net [Line Items]
Prepaid amount	¥ 3,600,000
Annual interest rate	6.00%	6.00%
Provision for credit losses	¥ 4,050,273	$ 568,316
Bad debt expense	211,962	29,742
Bad debt write off			¥ 25,494	¥ 25,493

Prepaid Expenses and Other Current Assets, Net (Details) - Schedule of Prepaid Expenses and Other Current Assets		Jun. 30, 2024 CNY (¥)	Jun. 30, 2024 USD ($)	Dec. 31, 2023 CNY (¥)	Dec. 31, 2023 USD ($)	Dec. 31, 2022 CNY (¥)
Prepaid Expenses and Other Current Assets, Net [Abstract]
Advanced to suppliers	[1]	¥ 2,056,858	$ 288,609	¥ 1,602,310
Deposits	[2]	8,943,059	1,254,849	9,644,591
Tax/expenses paid on behalf of clients		448,108	62,876	3,182,361
Loan & interest receivable	[3]	4,163,442	584,196	3,845,273
Prepaid VAT and other taxes		2,628,647	368,840	2,770,436
Other receivables	[4]	571,383	80,174	442,354
Total		18,811,497	2,639,544	21,487,325
Allowance for credit losses related to prepaid expenses and other current assets		(9,185,409)	(1,288,855)	(8,973,447)	$ (1,259,113)	¥ (237,704)
Total prepaid expenses and other receivables, net		¥ 9,626,088	$ 1,350,689	¥ 12,513,878
[1] The balance mainly represents the advance payments made chartered airlines freight services and rent. [2] The balance mainly represents the current operational deposits for lease and cargo space reservation to vendors. [3] The balance represents the principal and interests of the loan to Shenzhen Expecs Technology Co., Ltd. (“Expecs”). In May 2022, the Group entered into a term sheet with an intention to acquire Expecs of which core business is to offer services of inspection assistance for China Customs and customs brokerage. The Group prepaid RMB3.6 million for the planned acquisition during 2022. In July 2023, the Group and Expecs signed a loan agreement and the prepayment became a one-year short term loan bearing an annual interest rate of 6%. In July 2024, the loan was extended for one more year due on June 30, 2025. During the six months ended June 30, 2024, 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 RMB4,050,273 (US$568,316) as of June 30, 2024. [4] The balance mainly represents the prepaid rent and some advances to employees for routine business or travel needs.

Prepaid Expenses and Other Current Assets, Net (Details) - Schedule of Allowance of Doubtful Accounts	6 Months Ended			12 Months Ended
	Jun. 30, 2024 CNY (¥)	Jun. 30, 2024 USD ($)	Jun. 30, 2023 CNY (¥)	Dec. 31, 2023 CNY (¥)
Prepaid Expenses and Other Current Assets, Net [Abstract]
Beginning balance	¥ 8,973,447	$ 1,259,113	¥ 237,704	¥ 237,704
Addition	211,962	29,742		8,761,236
Write off			¥ (25,494)	(25,493)
Ending balance	¥ 9,185,409	$ 1,288,855		¥ 8,973,447

Property and Equipment, Net (Details)	6 Months Ended
	Jun. 30, 2024 CNY (¥)	Jun. 30, 2024 USD ($)	Jun. 30, 2023 CNY (¥)
Property and Equipment, Net [Line Items]
Depreciation expense	¥ 135,711	$ 19,042	¥ 383,238
Operating expenses	¥ 396,850	$ 55,684

Property and Equipment, Net (Details) - Schedule of Property and Equipment, Net	Jun. 30, 2024 CNY (¥)	Jun. 30, 2024 USD ($)	Dec. 31, 2023 CNY (¥)
Schedule of Property and Equipment, Net [Line Items]
Property and equipment	¥ 7,110,549	$ 997,718	¥ 6,728,054
Less: accumulated depreciation	(3,335,781)	(468,060)	(3,200,069)
Property and equipment, Gross	3,774,768	529,658	3,527,985
Less: impairment charges	(2,800,859)	(393,004)	(2,404,009)
Property and equipment, net	973,909	136,654	1,123,976
Motor vehicles [Member]
Schedule of Property and Equipment, Net [Line Items]
Property and equipment	1,485,842	208,486	1,485,841
Electronic equipment [Member]
Schedule of Property and Equipment, Net [Line Items]
Property and equipment	2,162,123	303,379	2,033,203
Machinery [Member]
Schedule of Property and Equipment, Net [Line Items]
Property and equipment	1,238,049	173,717	1,139,270
Other equipment [Member]
Schedule of Property and Equipment, Net [Line Items]
Property and equipment	1,413,753	198,371	1,413,753
Construction in progress [Member]
Schedule of Property and Equipment, Net [Line Items]
Property and equipment	¥ 810,782	$ 113,765	¥ 655,987

Intangible Assets, Net (Details)	6 Months Ended
	Jun. 30, 2024 CNY (¥)	Jun. 30, 2024 USD ($)	Jun. 30, 2023 CNY (¥)
Intangible Assets, Net [Line Items]
Amortization expense	¥ 106,311	$ 14,917	¥ 112,930
Intangible Assets [Member]
Intangible Assets, Net [Line Items]
Impairment charge	¥ 567,017	$ 79,561

Intangible Assets, Net (Details) - Schedule of Intangible Asset, Net - Intangible Assets [Member]	Jun. 30, 2024 CNY (¥)	Jun. 30, 2024 USD ($)	Dec. 31, 2023 CNY (¥)
Schedule of Intangible Asset, Net [Line Items]
Software	¥ 2,324,733	$ 326,196	¥ 2,096,218
Less: accumulated depreciation	(207,661)	(29,138)	(101,350)
Total	2,117,072	297,058	1,994,868
Less: impairment charges	(567,017)	(79,561)
Intangible assets, net	¥ 1,550,055	$ 217,497	¥ 1,994,868

Short-Term Borrowings (Details)					6 Months Ended			12 Months Ended
	Mar. 31, 2024	Dec. 31, 2023 USD ($)	May 09, 2023 CNY (¥)	Mar. 29, 2023 CNY (¥)	Jun. 30, 2024 CNY (¥)	Jun. 30, 2024 USD ($)	Jun. 30, 2023 CNY (¥)	Dec. 31, 2023 CNY (¥)	Dec. 31, 2023 USD ($)	Jun. 30, 2024 USD ($)	Dec. 31, 2023 USD ($)	Nov. 22, 2023 CNY (¥)	Nov. 22, 2023 USD ($)	Nov. 08, 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 ($)	Jun. 27, 2022 CNY (¥)	Jun. 27, 2022 USD ($)	Mar. 15, 2020 CNY (¥)	Mar. 15, 2020 USD ($)
Short-Term Borrowings [Line Items]
Loans amount			¥ 2,000,000	¥ 5,000,000															$ 280,631	$ 701,577
Term of interest rate			1 year	1 year
Repaid amount		$ 423,567
Loan agreement														$ 0	¥ 3,000,000	$ 420,946
Interest expenses					¥ 211,962	$ 29,742
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	$ 98,221
Outstanding amount								6,300,000	883,987
Industrial and Commercial Bank of China [Member]
Short-Term Borrowings [Line Items]
Term of interest rate	1 year
Interest rate					3.45%					3.45%													4.65%	4.65%
Loan agreement					¥ 3,000,000					$ 420,946													¥ 3,000,000	$ 420,946
Shenzhen Futian Yinzuo Rural Bank [Member]
Short-Term Borrowings [Line Items]
Repaid amount					565,774	79,387		440,032	61,743
Outstanding amount					994,194	139,501
Loan agreement																	¥ 2,000,000	$ 280,631			¥ 2,000,000	$ 280,631
Interest rate																	10.512%	10.512%			10.512%	10.512%
Bank of China Shenzhen Dongbu Branch [Member]
Short-Term Borrowings [Line Items]
Loans amount												¥ 5,000,000	$ 701,577
Interest rate												3.60%	3.60%		3.75%	3.75%
Repaid amount					600,000	84,189
Outstanding amount					4,400,000	617,389
Bank of Ningbo [Member]
Short-Term Borrowings [Line Items]
Interest rate														6.50%
Repaid amount					11,444,543	1,605,846
Outstanding amount					7,042,697	988,199
Wiithdraw amount					11,743,710			6,743,530		$ 1,647,824	$ 946,221
Shenzhen Futian Yinzuo Rural Bank [Member] | Shenzhen Futian Yinzuo Rural Bank [Member]
Short-Term Borrowings [Line Items]
Outstanding amount								¥ 1,559,968	$ 218,888
Short Term Borrowings [Member]
Short-Term Borrowings [Line Items]
Interest expenses					¥ 512,153	$ 71,863	¥ 191,599

Short-Term Borrowings (Details) - Schedule of Short-Term Borrowings		Jun. 30, 2024 CNY (¥)	Jun. 30, 2024 USD ($)	Dec. 31, 2023 CNY (¥)
Schedule of Short-Term Borrowings [Line Items]
Total short-term borrowings		¥ 21,436,891	$ 3,007,927	¥ 25,603,498
Bank of China Shenzhen Nantou Branch [Member]
Schedule of Short-Term Borrowings [Line Items]
Total short-term borrowings	[1]			6,300,000
Industrial and Commercial Bank of China [Member]
Schedule of Short-Term Borrowings [Line Items]
Total short-term borrowings	[2]	6,000,000	841,892	3,000,000
Shenzhen Futian Yinzuo Rural Bank [Member]
Schedule of Short-Term Borrowings [Line Items]
Total short-term borrowings	[3]	994,194	139,501	1,559,968
Bank of China Shenzhen Dongbu Branch [Member]
Schedule of Short-Term Borrowings [Line Items]
Total short-term borrowings	[4]	4,400,000	617,389	5,000,000
Bank of China Shenzhen Dongbu Branch [Member]
Schedule of Short-Term Borrowings [Line Items]
Total short-term borrowings	[5]	3,000,000	420,946	3,000,000
Bank of Ningbo [Member]
Schedule of Short-Term Borrowings [Line Items]
Total short-term borrowings	[6]	¥ 7,042,697	$ 988,199	¥ 6,743,530
[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$701,577) with one-year term with an interest rate of 4.1%. On May 9, 2023, JYD WLKJ entered into another working capital loan agreement with Bank of China Shenzhen Nantou Branch in the total amount of RMB2,000,000(US$280,631) with one-year term with an interest rate of 3.8%. The loan was guaranteed by Shenzhen Gaoxintou SE Financing Guarantee Co., LTD and shareholders of the Group (Xiaogang Geng and Xiaohua Jia). As of December 31, 2023, RMB700,000(US$98,221) was repaid, and total amount of RMB6,300,000(US$883,987) was outstanding for these two loans. During the six months ended June 30, 2024, the total outstanding loan was fully repaid when it was due. [2] 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 (US$420,946) with a half-year term with an interest rate of 4.65%. The loan was renewed every six month. In March 2024, the term of the loan was extended to one year,due in March 2025. The interests on the loan was 3.45%. In June 2024, JYD DS entered into a series of loan agreements with Industrial and Commercial Bank of China in the total amount of RMB3,000,000 (US$420,946) with an interest rate of 3.45%. These loans are all due on May 31, 2025. [3] 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$280,631) 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$280,631) with an interest rate of 10.512% with one-year term. As of December 31, 2023, RMB440,032 (US$61,743) was repaid, and RMB1,559,968 (US$218,888) was outstanding. As of June 30, 2024, RMB565,774 (US$79,387) was repaid, and RMB994,194 (US$139,501) was outstanding. In July 2024, the loan was fully repaid when it was due. [4] On November 22, 2023, JYD HQ entered into a one-year maturity loan agreement with Bank of China Shenzhen Dongbu Branch in the total amount of RMB5,000,000(US$701,577) with an interest rate of 3.6%. The loan was guaranteed by Shenzhen SME Financing Guarantee Co., LTD. and shareholders of the Group (Xiaogang Geng and Xiaohua Jia). As of June 30, 2024, RMB600,000 (US$84,189) was repaid, and RMB4,400,000 (US$617,389) was outstanding. [5] 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$420,946) with an interest rate of 3.75%. In October 2024, the loan was fully repaid when it was due. [6] On November 8, 2023, JYD NJWL entered into a one-year revolving credit agreement with Bank of Ningbo with the maximum amount of USD1,000,000 with an interest rate of 6.5%. The loan was guaranteed by JYD WLKJ. RMB6,743,530 (US$946,221) was the loan balance as of December 31, 2023. During the six months ended June 30, 2024, RMB11,743,710 (US$1,647,824) was withdrawn and RMB11,444,543 (US$1,605,846) was repaid. As of June 30, 2024, RMB7,042,697 (US$988,199) was outstanding. The loan was fully repaid when it is due in November 2024.

Loans Payable - A Third Party (Details)				1 Months Ended		6 Months Ended
	Dec. 31, 2023 USD ($)	Dec. 13, 2023 CNY (¥)	Dec. 13, 2023 USD ($)	Oct. 31, 2024 CNY (¥)	Oct. 31, 2024 USD ($)	Jun. 30, 2024 CNY (¥)	Jun. 30, 2024 USD ($)	Jun. 30, 2024 USD ($)
Loans Payable - A Third Party [Line Items]
Borrowed loan amount		¥ 2,833,080	$ 400,000
Repaid amount	$ 423,567
Loan [Member]
Loans Payable - A Third Party [Line Items]
Interest rate		6.00%	6.00%
Principal amount						¥ 2,829,023		$ 396,956
Accumulated interests						¥ 115,633	$ 16,225
Forecast [Member] | Loan [Member]
Loans Payable - A Third Party [Line Items]
Repaid amount				¥ 2,138,040	$ 300,000

Accrued Expenses and Other Current Liabilities (Details) - Schedule of Accrued Expenses and Other Current Liabilities		Jun. 30, 2024 CNY (¥)	Jun. 30, 2024 USD ($)	Dec. 31, 2023 CNY (¥)
Schedule of Accrued Expenses and Other Current Liabilities [Abstract]
Accrued payroll and employee benefits		¥ 4,038,505	$ 566,665	¥ 3,416,836
Payable to third parties	[1]	7,280,590	1,021,579	1,818,200
Deposit payable		1,574,810	220,970	2,017,770
Others		543,937	76,323	233,075
Total		¥ 13,437,842	$ 1,885,537	¥ 7,485,881
[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, 2023 and June 30, 2024.

Leases (Details)	6 Months Ended
	Jun. 30, 2024 CNY (¥)	Jun. 30, 2024 USD ($)	Dec. 31, 2023 CNY (¥)	[1]	Jun. 30, 2023 CNY (¥)
Leases [Abstract]
Sublease income	¥ 3,056,058	$ 428,812	¥ 707,009
Sublease cost	2,913,502	408,809
Total operating lease expenses	6,617,610	928,553			¥ 2,432,398
Lease termination loss	¥ (310,673)	$ (43,592)			¥ (1,197,921)
[1] For the six months ended June 30, 2024, the Group incurred sublease income of RMB3,056,058 (US$428,812), and sublease cost of RMB2,913,502 (US$408,809).

Leases (Details) - Schedule of Balance Sheet Information Related to Operating Lease	6 Months Ended		12 Months Ended
	Jun. 30, 2024 CNY (¥)	Jun. 30, 2024 USD ($)	Dec. 31, 2023 CNY (¥)	Jun. 30, 2024 USD ($)
Assets and Liabilities, Lessee [Abstract]
Right-of-use assets	¥ 6,414,655		¥ 12,237,211	$ 900,075
Less: impairment	(2,729,651)	$ (383,012)	(3,244,676)
Right-of-use assets	3,685,004		8,992,535	517,063
Operating lease liabilities – current	5,067,633		8,806,671	711,067
Operating lease liabilities – non-current	2,268,683		5,216,622	318,331
Total operating lease liabilities	¥ 7,336,316		¥ 14,023,293	$ 1,029,398

Leases (Details) - Schedule of Weighted Average Remaining Lease Terms and Discount Rates for Operating Lease	Jun. 30, 2024
Remaining lease term and discount rate:
Weighted average remaining lease term (years)	2 years 6 months 25 days
Weighted average discount rate	4.20%

Leases (Details) - Schedule of Operating Lease Expense	6 Months Ended
	Jun. 30, 2024 CNY (¥)	Jun. 30, 2024 USD ($)	Dec. 31, 2023 CNY (¥)
Lease expense
Operating lease expense - third party	¥ 2,058,621	$ 288,856	¥ 10,148,284
Short-term lease expense	7,615,047	1,068,509	15,056,781
Sublease income	(3,056,058)	(428,812)	(707,009)	[1]
Total lease expense	6,617,610	928,553	24,498,055
Other information
Cash paid for operating leases	3,003,868	421,489	8,543,549
Right-of-use assets obtained in exchange for operating new lease liabilities	¥ 5,229,722	$ 733,811	¥ 15,838,886
[1] For the six months ended June 30, 2024, the Group incurred sublease income of RMB3,056,058 (US$428,812), and sublease cost of RMB2,913,502 (US$408,809).

Leases (Details) - Schedule of Future Minimum Payments	Jun. 30, 2024 CNY (¥)	Jun. 30, 2024 USD ($)	Dec. 31, 2023 CNY (¥)
Schedule of Future Minimum Payments [Abstract]
Remainder of 2024	¥ 2,989,195	$ 419,430
2025	2,613,699	366,742
2026	695,993	97,659
2027	535,095	75,082
2028	330,827	46,420
Thereafter	578,078	81,113
Total lease payments	7,742,886	1,086,446
Less: imputed interest	406,570	57,048
Total operating lease liabilities, net of interest	¥ 7,336,316	$ 1,029,398	¥ 14,023,293

Long-Term Borrowing (Details)			6 Months Ended
	Dec. 31, 2023 CNY (¥)	Dec. 31, 2023 USD ($)	Jun. 30, 2024 CNY (¥)	Jun. 30, 2024 USD ($)	Jun. 30, 2023 CNY (¥)	Dec. 31, 2023 USD ($)	Dec. 23, 2022 CNY (¥)	Dec. 23, 2022 USD ($)
Long-Term Borrowing [Line Items]
Loan amount							¥ 5,000,000	$ 701,577
Interest rate of long term debt							4.15%	4.15%
Remaining balance							¥ 3,800,000	$ 533,199
Outstanding	¥ 4,400,000	$ 617,388	¥ 4,100,000	$ 575,293
Interest expenses			¥ 90,188	$ 12,655	¥ 96,239
Long Term Loan [Member]
Long-Term Borrowing [Line Items]
Debt repaid	¥ 600,000					$ 84,189	¥ 50,000	$ 7,016

Taxation (Details) $ in Millions		6 Months Ended	12 Months Ended
	Apr. 01, 2018 HKD ($)	Jun. 30, 2024 CNY (¥)	Dec. 31, 2023 CNY (¥)
Taxation [Line Items]
Profits tax percentage	8.25%
Profits tax rates (in Dollars) | $	$ 2
Income tax rate percentage		25.00%
General tax rate percentage			25.00%
Annual taxable income (in Yuan Renminbi)		¥ 3,000,000
Total assets (in Yuan Renminbi)		¥ 50,000,000
Corporate income tax rate			20.00%
Small and Low-Profit Enterprises [Member]
Taxation [Line Items]
Corporate income tax rate			25.00%
Taxable income (in Yuan Renminbi)			¥ 3,000,000
People’s Republic of China, [Member]
Taxation [Line Items]
Income tax percentage		25.00%
Hong Kong [Member]
Taxation [Line Items]
Profits tax percentage		16.50%

Taxation (Details) - Schedule of Income Tax Provision	6 Months Ended
	Jun. 30, 2024 CNY (¥)	Jun. 30, 2024 USD ($)	Jun. 30, 2023 CNY (¥)
Schedule of Income Tax Provision [Abstract]
Current income tax (benefit) / expenses	¥ 253,886	$ 35,624	¥ (97,584)
Deferred income tax expense / (benefit)	(926,279)	(129,971)	133,923
Total income tax expenses / (benefit)	¥ (672,393)	$ (94,347)	¥ 36,339

Taxation (Details) - Schedule of Loss Before Provision for Income Taxes	6 Months Ended
	Jun. 30, 2024 CNY (¥)	Jun. 30, 2024 USD ($)	Jun. 30, 2023 CNY (¥)
Schedule of Loss Before Provision for Income Taxes [Abstract]
PRC	¥ (17,599,574)	$ (2,469,491)	¥ (23,476,531)
Foreign	(2,386,953)	(334,926)	(2,715,165)
Loss before income tax expense	¥ (19,986,527)	$ (2,804,417)	¥ (26,191,696)

Taxation (Details) - Schedule of Reconciliation Between the Provision for Income Taxes	6 Months Ended
	Jun. 30, 2024	Jun. 30, 2023
Schedule of Reconciliation Between the Provision for Income Taxes [Abstract]
PRC statutory income tax rate	25.00%	25.00%
Impact of different tax rates in other jurisdictions	(3.10%)	(1.80%)
Effect of preferential tax rate	(10.40%)	(7.20%)
Non-deductible items	1.40%	0.20%
Effect of additional R&D deduction	0.00%	1.30%
Tax effect on deferred offering costs	0.00%	1.80%
Change in valuation allowance	(9.50%)	(19.40%)
Effective tax rate	3.40%	(0.10%)

Taxation (Details) - Schedule of Deferred Tax Assets and Deferred Tax Liability	Jun. 30, 2024 CNY (¥)	Jun. 30, 2024 USD ($)	Dec. 31, 2023 CNY (¥)
Schedule Of Deferred Tax Assets And Deferred Tax Liability Abstract
Net operating loss carried forward	¥ 27,376,264	$ 3,841,312	¥ 10,843,551
Bad debt provision	1,293,365	181,479	3,801,660
Impairment charges	93,178	13,074	963,398
Lease liability	(98,254)	(13,787)	818,974
Less: Valuation allowance	(23,834,998)	(3,344,417)	(12,738,069)
Deferred tax assets, net of valuation allowance	4,829,555	677,661	3,689,514
Right of use assets	(980,166)	(137,530)	(760,806)
Total deferred tax liabilities	¥ (980,166)	$ (137,530)	¥ (760,806)

Taxation (Details) - Schedule of Net Operating Loss Carry Forward	Jun. 30, 2024 CNY (¥)
Schedule of Net Operating Loss Carry Forward [Line Items]
Net Operating Loss Carry Forwards	¥ 95,632,039
2024 [Member]
Schedule of Net Operating Loss Carry Forward [Line Items]
Net Operating Loss Carry Forwards	2,851,618
2025 [Member]
Schedule of Net Operating Loss Carry Forward [Line Items]
Net Operating Loss Carry Forwards	27,602
2026 [Member]
Schedule of Net Operating Loss Carry Forward [Line Items]
Net Operating Loss Carry Forwards	11,930,662
2027 [Member]
Schedule of Net Operating Loss Carry Forward [Line Items]
Net Operating Loss Carry Forwards	56,480,637
2028 [Member]
Schedule of Net Operating Loss Carry Forward [Line Items]
Net Operating Loss Carry Forwards
2029 [Member]
Schedule of Net Operating Loss Carry Forward [Line Items]
Net Operating Loss Carry Forwards	¥ 24,341,521

Taxation (Details) - Schedule of Taxes Payable	Jun. 30, 2024 CNY (¥)	Jun. 30, 2024 USD ($)	Dec. 31, 2023 CNY (¥)
Schedule of Taxes Payable [Abstract]
Income tax payable	¥ 241,256	$ 33,851	¥ 163,527
VAT and other taxes payable	676,472	94,920	349,670
Total taxes payable	¥ 917,728	$ 128,771	¥ 513,197

Equity (Details)						1 Months Ended					6 Months Ended
	Mar. 16, 2023 $ / shares shares	Feb. 16, 2023 $ / shares shares	Sep. 09, 2022 shares	Sep. 09, 2022 USD ($)	Sep. 07, 2022 USD ($) shares	Jan. 31, 2024 CNY (¥)	Jan. 31, 2024 USD ($)	Sep. 30, 2023 CNY (¥)	Sep. 30, 2023 USD ($)	Apr. 30, 2023 USD ($) $ / shares shares	Jun. 30, 2024 CNY (¥) ¥ / shares shares	Jun. 30, 2023 shares	Jun. 30, 2024 USD ($) $ / shares shares	Dec. 31, 2023 CNY (¥) ¥ / shares shares	Dec. 31, 2023 USD ($) shares	Apr. 25, 2023 CNY (¥) shares	Apr. 25, 2023 USD ($) $ / shares shares	Sep. 06, 2022 shares	Jun. 10, 2022 shares	Mar. 31, 2022 CNY (¥)	Mar. 31, 2022 USD ($)	Feb. 28, 2022 CNY (¥)	Feb. 28, 2022 USD ($)
Equity [Line Items]
Reverse share split	1 to 1.25	1 for 1.25
Total dividend declared																				¥ 18,770,000	$ 2,633,721	¥ 18,770,000	$ 2,633,721
Dividends outstanding											¥ 6,937,500		$ 973,438	¥ 6,937,500	$ 973,438
After-tax net income percentage											3.40%	(0.10%)
Percentage of registered capital											50.00%
Net assets											¥ 6,400,000		$ 800,000
PRC [Member]
Equity [Line Items]
After-tax net income percentage											10.00%
Warrant [Member]
Equity [Line Items]
Value of warrant evaluated																¥ 360,874	$ 50,591
Minimum [Member]
Equity [Line Items]
Shares authorized	400,000,000
Ordinary Shares [Member] | Minimum [Member]
Equity [Line Items]
Shares authorized		400,000,000
Ordinary Shares [Member] | Maximum [Member]
Equity [Line Items]
Shares authorized	500,000,000	500,000,000
JYD RHTD [Member]
Equity [Line Items]
Capital injection								¥ 2,450,000	$ 343,773
Oranda [Member]
Equity [Line Items]
Capital injection						¥ 20,000	$ 2,806
Inter-Group [Member]
Equity [Line Items]
Total dividend declared																				6,839,000	959,617	6,839,000	959,617
Individual Shareholders [Member]
Equity [Line Items]
Total dividend declared																				¥ 11,931,000	$ 1,674,103	¥ 11,931,000	$ 1,674,103
Jayud Global Logistics Ltd [Member] | Minimum [Member]
Equity [Line Items]
Ordinary shares, par value (in Dollars per share) | $ / shares	$ 0.000125	$ 0.0001
Jayud Global Logistics Ltd [Member] | Maximum [Member]
Equity [Line Items]
Ordinary shares, par value (in Dollars per share) | $ / shares	$ 0.0001	$ 0.000125
Common Class A [Member]
Equity [Line Items]
Shares authorized											480,000,000		480,000,000	480,000,000	480,000,000
Ordinary shares, par value (in Dollars per share) | (per share)											¥ 0.0001		$ 0.0001	¥ 0.0001
Ordinary shares issued											14,942,623		14,942,623	14,942,623	14,942,623
Granted shares					800,000
Shares under reverse share split	10,872,320	13,590,400
Shares prior to reverse share split	13,590,400	10,872,320
Ordinary shares outstanding											14,942,623		14,942,623	14,942,623	14,942,623
Common Class A [Member] | Warrant [Member]
Equity [Line Items]
Warrants to purchase ordinary shares																37,500	37,500
Warrants exercise price per share (in Dollars per share) | $ / shares																	$ 4
Common Class A [Member] | Ordinary Shares [Member]
Equity [Line Items]
Ordinary shares issued																		1,370,400	9,420,000
Issuance of new shares												1,250,000
Ordinary shares outstanding											14,942,623		14,942,623	14,942,623	14,942,623
Common Class A [Member] | Third Party Investors [Member]
Equity [Line Items]
Ordinary shares			2,000,000
Consideration (in Dollars) | $				$ 5,000,000
Common Class A [Member] | Jayud Global Logistics Ltd [Member]
Equity [Line Items]
Shares authorized	480,000,000	384,000,000
Class B Ordinary Shares [Member]
Equity [Line Items]
Shares authorized											20,000,000		20,000,000	20,000,000	20,000,000
Ordinary shares, par value (in Dollars per share) | (per share)											¥ 0.0001		$ 0.0001	¥ 0.0001
Ordinary shares issued											6,409,600		6,409,600	6,409,600	6,409,600
Shares under reverse share split		6,409,600
Shares prior to reverse share split	5,127,680	5,127,680
Shares prior to forward share split	6,409,600
Ordinary shares outstanding											6,409,600		6,409,600	6,409,600	6,409,600
Class B Ordinary Shares [Member] | Ordinary Shares [Member]
Equity [Line Items]
Ordinary shares issued																			6,409,600
Issuance of new shares
Ordinary shares outstanding											6,409,600		6,409,600	6,409,600	6,409,600
Class B Ordinary Shares [Member] | Jayud Global Logistics Ltd [Member]
Equity [Line Items]
Shares authorized	20,000,000	16,000,000
Initial Public Offering [Member]
Equity [Line Items]
Consideration amount (in Dollars) | $
Initial Public Offering [Member] | Common Class A [Member]
Equity [Line Items]
Net proceeds (in Dollars) | $										$ 4,860,000
Price per share (in Dollars per share) | $ / shares										$ 4
Issuance of new shares										1,250,000
Over-Allotment Option [Member] | Common Class A [Member]
Equity [Line Items]
Issuance of new shares										102,223

Non-Controlling Interests (Details)	May 31, 2024	Apr. 30, 2024	Jan. 31, 2024
Qingdao Oranda Supply Chain Management Co., Ltd. [Member]
Non-Controlling Interests (Details) [Line Items]
Equity interest			51.00%
Shenzhen Jiniu International Logistics Co Ltd [Member]
Non-Controlling Interests (Details) [Line Items]
Equity interest			51.00%
International Logistics Co., Limited [Member]
Non-Controlling Interests (Details) [Line Items]
Equity interest		49.00%
International Logistics Co., Limited [Member] | Mr. Guojun Niu [Member]
Non-Controlling Interests (Details) [Line Items]
Equity interest		51.00%
HYTX Warehouse Inc. [Member]
Non-Controlling Interests (Details) [Line Items]
Equity interest	51.00%

Non-Controlling Interests (Details) - Schedule of the Balance of Non-Controlling Interest	Jun. 30, 2024 CNY (¥)	Jun. 30, 2024 USD ($)	Dec. 31, 2023 CNY (¥)
Schedule of the Balance of Non-Controlling Interest [Line Items]
Total	¥ (9,053,897)	$ (1,270,401)	¥ (7,676,674)
TYPHK [Member]
Schedule of the Balance of Non-Controlling Interest [Line Items]
Total	(168,873)	(23,695)	(164,700)
JYD SHWL [Member]
Schedule of the Balance of Non-Controlling Interest [Line Items]
Total	(1,439,448)	(201,977)	(1,434,739)
JYD YCKJ [Member]
Schedule of the Balance of Non-Controlling Interest [Line Items]
Total	(11,941,229)	(1,675,539)	(9,304,266)
JYD RHTD [Member]
Schedule of the Balance of Non-Controlling Interest [Line Items]
Total	5,069,176	711,284	3,277,031
JNT [Member]
Schedule of the Balance of Non-Controlling Interest [Line Items]
Total	(94,678)	(13,285)
FASTFLY [Member]
Schedule of the Balance of Non-Controlling Interest [Line Items]
Total	(7,334)	(1,029)
Oranda [Member]
Schedule of the Balance of Non-Controlling Interest [Line Items]
Total	(448,714)	(62,961)
HYTX [Member]
Schedule of the Balance of Non-Controlling Interest [Line Items]
Total	¥ (22,797)	$ (3,199)

Related Party Balances and Transactions (Details)							1 Months Ended				6 Months Ended
	Sep. 30, 2024 CNY (¥)	Sep. 30, 2024 USD ($)	Dec. 31, 2023 CNY (¥)	Dec. 31, 2023 USD ($)	Nov. 15, 2023 CNY (¥)	Nov. 15, 2023 USD ($)	Oct. 31, 2024 CNY (¥)	Oct. 31, 2024 USD ($)	Dec. 31, 2023 CNY (¥)	Dec. 31, 2023 USD ($)	Jun. 30, 2024 CNY (¥)	Jun. 30, 2024 USD ($)	Jun. 30, 2023 CNY (¥)	Nov. 30, 2024 CNY (¥)	Nov. 30, 2024 USD ($)	Jun. 30, 2024 USD ($)	Apr. 30, 2024 CNY (¥)	Apr. 30, 2024 USD ($)	Nov. 15, 2023 USD ($)	Aug. 31, 2023 CNY (¥)	Aug. 31, 2023 USD ($)
Related Party Balances and Transactions [Line Items]
Logistics services acquired											¥ 1,468,748	$ 206,088
Short-term loan interest rate																	6.00%	6.00%
Repaid amount | $				$ 423,567
Outstanding value											2,000,000	280,631
Interest expense											1,252,481	175,742	¥ 417,654
Amount paid											17,743,710	2,489,716	10,000,000
Rent payable									¥ 7,775,393	$ 1,097,801
Interest expense on loans											211,962	29,742
Xi’an Renrui Hydroacoustic Technology Engineering Co., Ltd (“Renrui”) [Member]
Related Party Balances and Transactions [Line Items]
Borrowed a total amount					¥ 3,000,000												¥ 3,000,000	$ 420,946	$ 420,946
Interest borrowed a short-term loan					30,000	$ 4,209
Interest expense											47,193	6,622
Interest payable																	41,836	5,870
Jayud [Member]
Related Party Balances and Transactions [Line Items]
Amount paid											5,255	737	25,978
Li Bin and Renrui [Member]
Related Party Balances and Transactions [Line Items]
Borrowed a total amount					3,000,000														$ 420,946
Interest borrowed a short-term loan					¥ 30,000
Xiaogang Geng [Member]
Related Party Balances and Transactions [Line Items]
Interest expense on loans											346,407	48,606
Winpass Logistics (HK) Co., Limited [Member]
Related Party Balances and Transactions [Line Items]
Paid amount													843,730
Collected amount												242,642	¥ 1,137,283
Outstanding balance											1,729,262
Six Shareholders [Member]
Related Party Balances and Transactions [Line Items]
Borrowed a total amount											¥ 15,165,895					$ 2,128,009
Short-term loan interest rate											6.00%					6.00%
Short-Term Loan [Member]
Related Party Balances and Transactions [Line Items]
Repaid amount | $												$ 140,315
Short-Term Loan [Member] | Xi’an Renrui Hydroacoustic Technology Engineering Co., Ltd (“Renrui”) [Member]
Related Party Balances and Transactions [Line Items]
Borrowed a total amount																	¥ 3,000,000	$ 420,946
Short-Term Loan [Member] | Li Bin [Member]
Related Party Balances and Transactions [Line Items]
Repaid amount			¥ 3,000,000
Short-Term Loan [Member] | Related Party [Member]
Related Party Balances and Transactions [Line Items]
Repaid amount											¥ 1,000,000
Loan [Member]
Related Party Balances and Transactions [Line Items]
Borrowed a total amount																				¥ 823,265	$ 116,236
Geng Xiaogang [Member]
Related Party Balances and Transactions [Line Items]
Short-term loan interest rate																				6.00%	6.00%
Minimum [Member] | Short-Term Loan [Member]
Related Party Balances and Transactions [Line Items]
Loan term					20 days	20 days
Minimum [Member] | Long Term Loan [Member]
Related Party Balances and Transactions [Line Items]
Loan term											14 months	14 months
Maximum [Member] | Short-Term Loan [Member]
Related Party Balances and Transactions [Line Items]
Loan term					55 days	55 days
Maximum [Member] | Long Term Loan [Member]
Related Party Balances and Transactions [Line Items]
Loan term											19 months	19 months
Forecast [Member]
Related Party Balances and Transactions [Line Items]
Borrowed a total amount														¥ 2,712,100	$ 380,549
Forecast [Member] | Xi’an Renrui Hydroacoustic Technology Engineering Co., Ltd (“Renrui”) [Member]
Related Party Balances and Transactions [Line Items]
Repaid amount	¥ 500,000	$ 70,158
Forecast [Member] | Loan [Member]
Related Party Balances and Transactions [Line Items]
Repaid amount							¥ 2,138,040	$ 300,000
Forecast [Member] | Long Term Loan [Member] | Xiaogang Geng [Member]
Related Party Balances and Transactions [Line Items]
Repaid amount							828,391	116,236
Forecast [Member] | Long Term Loan [Member] | Xiaohua Jia [Member]
Related Party Balances and Transactions [Line Items]
Repaid amount							¥ 2,614,110	$ 366,800

Related Party Balances and Transactions (Details) - Schedule of Related Party Balances and Transactions		6 Months Ended
		Jun. 30, 2024 CNY (¥)	Jun. 30, 2024 USD ($)	Dec. 31, 2023 CNY (¥)	Jun. 30, 2023 CNY (¥)
Accounts Receivable From Related Party [Member]
Related Party Transaction [Line Items]
Related party amount		¥ 260,010	$ 36,483
Accounts Receivable From Related Party [Member] | Shenzhen Oranda Global Logistics Limited [Member]
Related Party Transaction [Line Items]
Relationship				80% shares owned by Oranda’s 49% interest minor shareholder
Nature				Logistic services
Related party amount		86,628	12,155
Accounts Receivable From Related Party [Member] | Xi’an Renrui Hydroacoustic Technology Engineering Co., Ltd (“Renrui”) [Member]
Related Party Transaction [Line Items]
Relationship				40% owned by Bin Li
Nature				International trading
Related party amount		173,382	24,328
Other Receivable From Related Parties [Member]
Related Party Transaction [Line Items]
Related party amount		385,563	54,100	¥ 164,858
Other Receivable From Related Parties [Member] | Winpass Logistics (HK) Co., Limited [Member]
Related Party Transaction [Line Items]
Relationship				100% controlled by Xiaohua Jia
Nature				Net collection on behalf of the Group
Related party amount		385,563	54,100	¥ 125,049
Other Receivable From Related Parties [Member] | Shenzhen Zhongshun Jiean Estate Management Co., Ltd (“Zhongshun”) [Member]
Related Party Transaction [Line Items]
Relationship				90% owned by Bao BingBing, management of JYD NJWL
Nature				Rent deposit
Related party amount				¥ 39,809
Accounts Payable to Related Parties [Member]
Related Party Transaction [Line Items]
Related party amount		18,241,237	2,559,527	¥ 6,666,458
Accounts Payable to Related Parties [Member] | Shenzhen Oranda Global Logistics Limited [Member]
Related Party Transaction [Line Items]
Relationship				80% shares owned by Oranda’s 49% interest minor shareholder
Nature				Logistic services
Related party amount		50,880	7,139
Accounts Payable to Related Parties [Member] | Winpass Logistics (HK) Co., Limited [Member]
Related Party Transaction [Line Items]
Relationship				100% controlled by Xiaohua Jia
Nature				Logistic services
Related party amount		540,015	75,772	¥ 418,266
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
Nature				Logistic services
Related party amount		17,109,198	2,400,685	¥ 6,248,192
Accounts Payable to Related Parties [Member] | HYTX Logistics LLC [Member]
Related Party Transaction [Line Items]
Relationship				100% shares owned by HYTX’s 49% interest minor shareholder
Nature				Logistic services
Related party amount		282,463	39,634
Accounts Payable to Related Parties [Member] | Shenzhen Huanshi Chuangyuan Technology Limited [Member]
Related Party Transaction [Line Items]
Relationship				70% shares owned by Oranda’s 49% interest minor shareholder
Nature				Logistic services
Related party amount		226,615	31,798
Accounts Payable to Related Parties [Member] | Tianjin Oranda Global Logistics Limited [Member]
Related Party Transaction [Line Items]
Relationship				20% shares owned by Oranda’s 49% interest minor shareholder
Nature				Logistic services
Related party amount		32,066	4,499
Loan Payable to Related Party [Member]
Related Party Transaction [Line Items]
Related party amount		2,000,000	280,631	¥ 3,000,000
Loan Payable to Related Party [Member] | Xi’an Renrui Hydroacoustic Technology Engineering Co., Ltd (“Renrui”) [Member]
Related Party Transaction [Line Items]
Relationship				40% owned by Bin Li
Nature				Loan
Related party amount		2,000,000	280,631	¥ 3,000,000
Others Payable To Related Parties [Member]
Related Party Transaction [Line Items]
Related party amount		738,548	103,630	¥ 8,516,645
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
Nature	[1]			Rent payable (c)
Related party amount				¥ 7,775,393
Others 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
Nature	[2]			Net payments on behalf of the Group (a)
Related party amount		696,712	97,759	¥ 686,609
Others Payable To Related Parties [Member] | Bin Li [Member]
Related Party Transaction [Line Items]
Relationship				Management of JYD SXGYL
Nature	[3]			Interest Payable (b)
Related party amount				¥ 30,000
Others Payable To Related Parties [Member] | Xi’an Renrui Hydroacoustic Technology Engineering Co., Ltd (“Renrui”) [Member]
Related Party Transaction [Line Items]
Relationship				40% owned by Bin Li
Nature	[3]			Interest Payable (b)
Related party amount		41,836	5,870	¥ 24,643
Others Payable to Shareholders [Member]
Related Party Transaction [Line Items]
Related party amount		18,013	2,527	¥ 37,029
Others Payable to Shareholders [Member] | Xiaogang Geng [Member]
Related Party Transaction [Line Items]
Relationship				Shareholder and CEO
Nature				Interest of shareholder loan
Related party amount				¥ 16,465
Others Payable to Shareholders [Member] | Wang Qing [Member]
Related Party Transaction [Line Items]
Relationship				Shareholder
Nature				Business Reimbursement Payable
Related party amount		18,013	2,527	¥ 20,564
Others Payable to Shareholders [Member] | Xiaogang Geng [Member]
Related Party Transaction [Line Items]
Relationship				Shareholder and CEO
Nature				Dividend
Related party amount		6,225,000	873,464	¥ 6,225,000
Others Payable to Shareholders [Member] | Xiaohua Jia [Member]
Related Party Transaction [Line Items]
Relationship				Shareholder
Nature				Dividend
Related party amount		712,500	99,975	¥ 712,500
Loans Payable to Shareholders [Member]
Related Party Transaction [Line Items]
Related party amount		16,335,567	2,292,132	¥ 823,265
Loans Payable to Shareholders [Member] | Wang Qing [Member]
Related Party Transaction [Line Items]
Relationship				Shareholder
Nature				Loan
Related party amount		305,918	42,925
Loans Payable to Shareholders [Member] | Jianhong Huang [Member]
Related Party Transaction [Line Items]
Relationship				Shareholder and COO
Nature				Loan
Related party amount		4,337,897	608,674
Loans Payable to Shareholders [Member] | Jia Xiaohua [Member]
Related Party Transaction [Line Items]
Relationship				Shareholder
Nature				Loan
Related party amount		3,667,090	514,549
Loans Payable to Shareholders [Member] | Peng ZhongLiang [Member]
Related Party Transaction [Line Items]
Relationship				Shareholder
Nature				Loan
Related party amount		1,002,630	140,684
Loans Payable to Shareholders [Member] | Yi Yu [Member]
Related Party Transaction [Line Items]
Relationship				Shareholder
Nature				Loan
Related party amount		6,145,241	862,272
Loans Payable to Shareholders [Member] | Xiaogang Geng [Member]
Related Party Transaction [Line Items]
Relationship				Shareholder and CEO
Nature				Loan
Related party amount		876,792	123,027	¥ 823,265
Others Payable to Shareholders [Member]
Related Party Transaction [Line Items]
Related party amount		6,937,500	973,438	¥ 6,937,500
Shareholder Transaction [Member] | Jianhong Huang [Member]
Related Party Transaction [Line Items]
Nature				Interest expenses of a loan
Related party amount		137,897	19,349
Shareholder Transaction [Member] | Xiaohua Jia [Member]
Related Party Transaction [Line Items]
Nature				Interest expenses of a loan
Related party amount		44,121	6,191
Shareholder Transaction [Member] | Xiaogang Geng Three [Member]
Related Party Transaction [Line Items]
Nature				Interest expenses of a loan
Related party amount		48,401	6,791
Shareholder Transaction [Member] | ZhongLiang Peng [Member]
Related Party Transaction [Line Items]
Nature				Interest expenses of a loan
Related party amount		2,630	369
Shareholder Transaction [Member] | Qing Wang [Member]
Related Party Transaction [Line Items]
Nature				Interest expenses of a loan
Related party amount		5,918	830
Shareholder Transaction [Member] | Yu Yi [Member]
Related Party Transaction [Line Items]
Nature				Interest expenses of a loan
Related party amount		107,440	15,076
Material Related Party Transactions [Member] | Shenzhen Oranda Global Logistics Limited [Member]
Related Party Transaction [Line Items]
Nature				Purchase of logistic services
Related party amount		264,989	37,182
Material Related Party Transactions [Member] | Winpass Logistics (HK) Co., Limited [Member]
Related Party Transaction [Line Items]
Nature				Purchase of logistic services
Related party amount		241,479	33,883		227,198
Material Related Party Transactions [Member] | HYTX Logistics LLC [Member]
Related Party Transaction [Line Items]
Nature				Purchase of logistic services
Related party amount		319,460	44,825
Material Related Party Transactions [Member] | Shenzhen Huanshi Chuangyuan Technology Limited [Member]
Related Party Transaction [Line Items]
Nature				Purchase of logistic services
Related party amount		264,195	37,071
Material Related Party Transactions [Member] | Tianjin Oranda Global Logistics Limited [Member]
Related Party Transaction [Line Items]
Nature				Purchase of logistic services
Related party amount		31,813	4,464
Material Related Party Transactions [Member] | Cargo Link Logistics HK Company Limited Three [Member]
Related Party Transaction [Line Items]
Nature				Purchase of logistic services
Related party amount		31,986,207	4,488,158		34,006,130
Material Related Party Transactions [Member] | Shandong Oranda Logistics Co., Ltd [Member]
Related Party Transaction [Line Items]
Nature				Purchase of logistic services
Related party amount		21,946	3,079
Material Related Party Transactions [Member] | Shandong Oranda Logistics Co., Ltd One [Member]
Related Party Transaction [Line Items]
Nature				Provided logistic services
Related party amount		58,070	8,148
Material Related Party Transactions [Member] | Shenzhen Oranda Global Logistics Limited One [Member]
Related Party Transaction [Line Items]
Nature				Provided logistic services
Related party amount		265,190	37,210
Material Related Party Transactions [Member] | Shenzhen Huanshi Chuangyuan Technology Limited One [Member]
Related Party Transaction [Line Items]
Nature				Provided logistic services
Related party amount		286,352	40,180
Material Related Party Transactions [Member] | Shenzhen Feijia Supply Chain Management Co., Ltd [Member]
Related Party Transaction [Line Items]
Nature				Provided logistic services
Related party amount					211,684
Material Related Party Transactions [Member] | Shenzhen Feijia Supply Chain Management Co., Ltd One [Member]
Related Party Transaction [Line Items]
Nature				Purchase of equipment
Related party amount					122,500
Material Related Party Transactions [Member] | Xi’an Renrui Hydroacoustic Technology Engineering Co., Ltd [Member]
Related Party Transaction [Line Items]
Nature				Sales of goods
Related party amount		¥ 641,316	$ 89,987
[1] 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. During the six months ended June 30, 2024, Bao BingBing resigned as management of JYD NJWL. Therefore, Shenzhen Zhongshun Jiean Estate Management Co., Ltd was not related party of the Group as of June 30, 2024. [2] For the six months ended June 30, 2023 and 2024, Cargo Link paid on behalf of Jayud in a total amount of RMB25,978 and RMB5,255 (US$737), respectively. [3] On November 15, 2023, the Group borrowed short-term loans from Li Bin and Renrui each of RMB3,000,000 (US$420,946), 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) from Li Bin was fully repaid in December 2023, and the interest was repaid in January 2024. The balance of RMB41,836 (US$5,870) with Renrui represents the interest payable on the new loan of RMB3,000,000 (US$420,946) borrowed in April 2024.

Concentration (Details) - Schedule of Total Accounts Receivable	6 Months Ended
	Jun. 30, 2024 CNY (¥)		Jun. 30, 2024 USD ($)		Dec. 31, 2023 CNY (¥)		Jun. 30, 2023 CNY (¥)
Customer Concentration Risk [Member] | Customer A [Member] | Accounts Receivable [Member]
Schedule of Total Accounts Receivable [Line Items]
Amount	¥ 5,100,276		$ 715,647		¥ 7,025,390
Concentration risk percentage	10.80%		10.80%		17.00%
Customer Concentration Risk [Member] | Customer A [Member] | Revenue Benchmark [Member]
Schedule of Total Accounts Receivable [Line Items]
Amount		[1]		[1]			¥ 18,347,072
Concentration risk percentage		[1]		[1]			10.80%
Customer Concentration Risk [Member] | Customer B [Member] | Accounts Receivable [Member]
Schedule of Total Accounts Receivable [Line Items]
Amount	¥ 8,077,588		$ 1,133,410			[1]
Concentration risk percentage	17.20%		17.20%			[1]
Customer Concentration Risk [Member] | Customer B [Member] | Revenue Benchmark [Member]
Schedule of Total Accounts Receivable [Line Items]
Amount		[1]		[1]			¥ 18,481,371
Concentration risk percentage		[1]		[1]			10.90%
Customer Concentration Risk [Member] | Customer C [Member] | Revenue Benchmark [Member]
Schedule of Total Accounts Receivable [Line Items]
Amount	¥ 27,351,614		$ 3,837,853					[1]
Concentration risk percentage	10.11%		10.11%					[1]
Supplier Concentration Risk [Member] | Accounts Payable [Member] | Cargo Link Logistics HK Company Limited [Member]
Schedule of Total Accounts Receivable [Line Items]
Amount	¥ 17,024,215		$ 2,388,760		¥ 6,248,193
Concentration risk percentage	28.90%		28.90%		13.50%
Supplier Concentration Risk [Member] | Accounts Payable [Member] | Supplier A [Member]
Schedule of Total Accounts Receivable [Line Items]
Amount		[1]		[1]	¥ 9,302,019
Concentration risk percentage		[1]		[1]	20.00%
Supplier Concentration Risk [Member] | Accounts Payable [Member] | Supplier B [Member]
Schedule of Total Accounts Receivable [Line Items]
Amount	¥ 8,063,592		$ 1,131,446		¥ 6,801,207
Concentration risk percentage	13.70%		13.70%		14.60%
Supplier Concentration Risk [Member] | Total Purchase [Member] | Cargo Link Logistics HK Company Limited [Member]
Schedule of Total Accounts Receivable [Line Items]
Amount	¥ 31,986,207		$ 4,488,158				¥ 34,006,130
Concentration risk percentage	11.70%		11.70%				19.90%
Supplier Concentration Risk [Member] | Total Purchase [Member] | Supplier A [Member]
Schedule of Total Accounts Receivable [Line Items]
Amount	¥ 57,953,487		$ 8,131,768					[1]
Concentration risk percentage	21.20%		21.20%					[1]
Supplier Concentration Risk [Member] | Total Purchase [Member] | Supplier C [Member]
Schedule of Total Accounts Receivable [Line Items]
Amount		[1]		[1]			¥ 27,936,781
Concentration risk percentage		[1]		[1]			16.30%
[1] Represented the percentage below 10%

Commitments and Contingencies (Details) - Schedule of Contractual Obligations	Jun. 30, 2024 CNY (¥)
Schedule of Contractual Obligations [Line Items]
Payments due by period Within one year	¥ 33,355,109
Payments due by period Within 1-2 years	18,949,266
Payments due by period Over 2 years	2,139,992
Total	54,444,367
Operating Lease Payment [Member]
Schedule of Contractual Obligations [Line Items]
Payments due by period Within one year	2,989,195
Payments due by period Within 1-2 years	2,613,699
Payments due by period Over 2 years	2,139,992
Total	7,742,886
Bank Borrowings [Member]
Schedule of Contractual Obligations [Line Items]
Payments due by period Within one year	25,536,891
Payments due by period Within 1-2 years
Payments due by period Over 2 years
Total	25,536,891
Loan from a Related Party [Member]
Schedule of Contractual Obligations [Line Items]
Payments due by period Within one year	2,000,000
Total	2,000,000
Loans from a Third Party [Member]
Schedule of Contractual Obligations [Line Items]
Payments due by period Within one year	2,829,023
Payments due by period Within 1-2 years
Payments due by period Over 2 years
Total	2,829,023
Loan from shareholders [Member]
Schedule of Contractual Obligations [Line Items]
Payments due by period Within one year
Payments due by period Within 1-2 years	16,335,567
Payments due by period Over 2 years
Total	¥ 16,335,567

Business Combination (Details)	6 Months Ended
	Jun. 30, 2024 CNY (¥)	Jun. 30, 2024 USD ($)	Jun. 30, 2023 CNY (¥)	Apr. 30, 2024	Jan. 31, 2024
Business Combination [Line Items]
Net assets		$ 11,960
Net loss	¥ (19,314,134)	(2,710,070)	¥ (26,228,035)
Qingdao Oranda Supply Chain Management Co., Ltd. (“Oranda”) [Member]
Business Combination [Line Items]
Acquired percentage					51.00%
Net assets | ¥	¥ 341
Net loss		961,351
Shenzhen Jiniu International Logistics Co., Ltd. (“Jiniu”) [Member]
Business Combination [Line Items]
Acquired percentage					51.00%
Net assets		19,755
Net loss		183,146
HYTX Warehouse Inc. (“HYTX”) [Member]
Business Combination [Line Items]
Acquired percentage				51.00%
Net loss		39,091
Business Combination [Member]
Business Combination [Line Items]
Consideration for acquisitions

Subsequent Events (Details)									6 Months Ended
	Oct. 31, 2024 USD ($) $ / shares shares	Oct. 22, 2024 shares	Oct. 08, 2024 Days	Sep. 30, 2024 shares	Sep. 27, 2024 Days	Sep. 13, 2024 USD ($)	Jul. 31, 2024 CNY (¥) shares	Dec. 31, 2023 USD ($) shares	Jun. 30, 2024 CNY (¥) shares	Jun. 30, 2024 USD ($) shares	Dec. 31, 2024	Nov. 30, 2024 CNY (¥)	Nov. 30, 2024 USD ($)	Nov. 15, 2024 USD ($)	Oct. 28, 2024 shares	Oct. 26, 2024 shares	Oct. 19, 2024 shares	Oct. 10, 2024	Jul. 31, 2024 USD ($)	Jul. 05, 2024 CNY (¥)	Jul. 05, 2024 USD ($)	Nov. 08, 2023 USD ($)	Oct. 30, 2023 CNY (¥)	Oct. 30, 2023 USD ($)
Subsequent Events [Line Items]
Debenture bears interest rate									6.00%	6.00%
Repaid amount | $								$ 423,567
Loan agreement																						$ 0	¥ 3,000,000	$ 420,946
Xiaogang Geng [Member]
Subsequent Events [Line Items]
Repaid amount									¥ 5,802,500	$ 814,180
Subsequent Event [Member]
Subsequent Events [Line Items]
Entitled borrowing							¥ 738,000												$ 103,553
Interest rate																				4.25%	4.25%
Loan agreement																				¥ 1,000,000	$ 140,315
Class B Ordinary Shares [Member]
Subsequent Events [Line Items]
Common stock, issued (in Shares)								6,409,600	6,409,600	6,409,600
Common stock, outstanding (in Shares)								6,409,600	6,409,600	6,409,600
Class B Ordinary Shares [Member] | Subsequent Event [Member]
Subsequent Events [Line Items]
Conversion of stock (in Shares)							1,000,000
Class A Ordinary Shares [Member]
Subsequent Events [Line Items]
Common stock, issued (in Shares)								14,942,623	14,942,623	14,942,623
Common stock, outstanding (in Shares)								14,942,623	14,942,623	14,942,623
Forecast [Member]
Subsequent Events [Line Items]
Conversion of stock (in Shares)		2,069,382
Net proceeds of issuance of convertible debentures (in Dollars) | $						$ 800,000
Principal amount (in Dollars) | $						$ 800,000
Consecutive trading days (in Days) | Days			5		5
Purchase price (in Dollars per share) | $ / shares	$ 0.45
Gross proceeds (in Dollars) | $	$ 6,657,000
Share based compensation (in Dollars) | $	$ 17,261
Entitled borrowing												¥ 2,712,100	$ 380,549
Interest rate											6.00%	6.00%	6.00%	5.43%
Loan agreement | $														$ 500,000
Forecast [Member] | Qingdao Oranda Supply Chain Management Co., Ltd. Acquisition [Member]
Subsequent Events [Line Items]
Equity interest																		51.00%
Forecast [Member] | HYTX WAREHOUSE NO.3 LLC [Member]
Subsequent Events [Line Items]
Equity interest																20.00%
Common stock, issued (in Shares)																1,680,016
Forecast [Member] | HYTX WAREHOUSE NO.10 LLC, [Member]
Subsequent Events [Line Items]
Equity interest																49.00%
Common stock, issued (in Shares)																1,568,457
Forecast [Member] | YUKON FLOORING BELLAIRE, LLC, [Member]
Subsequent Events [Line Items]
Equity interest																95.00%
Common stock, issued (in Shares)																2,219,828
Forecast [Member] | HYTX WAREHOUSE NO.11 LLC, [Member]
Subsequent Events [Line Items]
Equity interest																20.00%
Common stock, issued (in Shares)																1,704,851
Forecast [Member] | Xiaogang Geng [Member]
Subsequent Events [Line Items]
Entitled borrowing												¥ 4,775,000	$ 670,006
Forecast [Member] | HK(FASTFLY)International Logistics Co.,Limited [Member]
Subsequent Events [Line Items]
Percentage of acquired																	10.00%
Forecast [Member] | Convertible Debt [Member]
Subsequent Events [Line Items]
Conversion price rate			52.00%		52.00%
Forecast [Member] | Ezhou GJHY [Member]
Subsequent Events [Line Items]
Equity interest				51.00%
Forecast [Member] | Class B Ordinary Shares [Member]
Subsequent Events [Line Items]
Common stock, issued (in Shares)															5,409,600
Common stock, outstanding (in Shares)															5,409,600
Forecast [Member] | Class A Ordinary Shares [Member]
Subsequent Events [Line Items]
Conversion of stock (in Shares)				1,000,000
Common stock, issued (in Shares)															40,112,868		117,115
New share issuance (in Shares)	14,793,335
Common stock, outstanding (in Shares)															40,112,868

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