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Organization and Principal Activities
 12 Months Ended
Dec. 31, 2022
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 December 31, 2022, 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		   Place of
incorporation		   Percentage
of direct
ownership		     Principal activities
Jayud Global Logistics  (HongKong) Limited
(“JYD HK”)		   Jayud   June 24, 2022   Hong Kong     100 %   Wholly foreign owned enterprise
Shenzhen Jayud Logistics Technology Co., Ltd
(“JYD WLKJ”)		   JYD HK   July 23, 2015   PRC     100 %   Freight forwarding
Shenzhen Jia Yu Da International Logistics Co., Ltd.  
(“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 %   Agent service
Shenzhen Jiayuda Global Supply Chain Co., Ltd.
(“JYD HQ”)		   JYD WLKJ   April 23, 2014   PRC     100 %   Freight forwarding
Shenzhen Jiayuda E-Commerce Technology Co., Ltd
(“JYD DS”)		   JYD WLKJ   April 1, 2014   PRC     100 %   Freight forwarding
Nanjing Jiayuda Logistics Co., Ltd.
(“JYD NJWL”)		   JYD WLKJ   February 12, 2018   PRC     100 %   Freight forwarding
Shaanxi Jia Yuda 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
Sky Pacific Logistics HK Company Limited
(“TPYHK”)		   JYD HQ   March 2, 2016   Hong Kong     67 %   Agent service
Hongkong Jayud International Logistics Company Limited
(“JYD HKGJHY”)		   JYD HK   December 31, 2017   Hong Kong     100 %   Agent service
Shenzhen Jayud Yuncang Technology Co., Ltd.
(“JYD YCKJ”)		   JYD WLKJ   July 25, 2022   PRC     52 %   Warehousing

 

(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.

 

Due to the fact that 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, the reorganization was accounted for as a recapitalization. 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.

 

(c)Changes of non-controlling interests

 

In October 2021, JYD WLKJ set up JYD SHWL with non-controlling shareholders and obtained 51% equity interest of JYD SHWL. (Note 2(x))

 

In November 2021, the Company acquired 33% non-controlling interests of JYD HKGJHY from Cargo Link Logistics HK Company Limited. (Note 2(x)) 

 

In July 2022, JYD WLKJ set up JYD YCKJ with a non-controlling shareholder and obtained 52% equity interest of JYD YCKJ. (Note 2(x))