StockCode:600057 StockAbbreviation:XiamenXiangyu
Xiamen Xiangyu Co., Ltd.
2023Annual Report (Summary)
This report is prepared in both Chinese and English. The Chinese version shall prevail in case of any discrepancy
between the Chinese and English texts.

To Shareholders
In 2023, the global industrial supply chain has been undergoing unprecedented challenges and
restructuring, presenting market fluctuations as well as a blend of opportunities and obstacles. We
have remained committed to our long-term vision and tackled difficulties head-on. Despite the
complex market conditions, we have held our ground amidst the torrential market changes,
achieving a counter-trend increase in market share, and boosting our operational volume. However,
the pace of our operational adjustments has not promptly kept pace with the rapid market dynamics,
and the depth of our current model upgrade remains insufficient, failing to fully exploit and unleash
its potential value. For the first time in nearly a decade, we experienced a decline in business
performance,andthejourneytowardsstrategictransformationremainschallenging.Here,wewould
like to extend our sincerest apologies to all shareholders who have consistently demonstrated their
trust and support for the Company’s development.
In the face of the dynamic shifts within the industry, we persistently evaluate and fortify our own
vulnerabilities. By committing to a philosophy of striving for excellence, we rigorously manage
costs and risks, optimize our customer structure and product portfolio, deepen our macroeconomic
and industrialresearch, and steadfastlyadhere to ourbasicprinciple of“Rooted intheSupplyChain,
Serving the Industrial Chain, Creating the Value Chain”. Additionally, we challenge ourselves to
leave our comfort zones, actively pursuing innovative, sustainable development strategies. As we
deepen our commitment to the domestic market, we also concentrate on collaboratively advancing
the “Belt and Road” initiative with high standards, aiming to achieve a seamless integration of
domestic-international dual circulation. This will pave the way for a more efficient and smarter
global supply chain ecosystem. We deeply understand that only by actively embracing change and
diligently promoting open collaboration can we surpass ourselves and realize a more glorious
prospect.
The market inevitably faces its tempests, yet we hold an unwavering belief in a radiant future where
paths are strewn with lush blossoms and opportunities emerge from the shadows. Our confidence is
deeply anchored in the steady, positive direction of China’s economy, the ongoing opportunities in
supply chain development, and the enduring advantages of Xiamen Xiangyu’s business model and
rich cultural heritage. Firmly planted in the fertile soil of China’s manufacturing sector, we are
poised to explore vast new territories for growth. By capitalizing on the opportunities provided by
leading supply chain enterprises, we are expanding our service dimensions and broadening our
operational horizons. The Xiamen Xiangyu community remains committed to our grassroots spirit
and passion for the cause. Every obstacle serves as a stepping stone for growth, and each challenge
becomesadrivingforcethatpropelsusforward.Throughunyieldingeffortandsteadfastconviction,
we are determined to navigate through challenges and paint a new blueprint for high-quality
development.
As wenavigate through thesurging waves of anewindustrialrevolution and globalization, we stand
firmly on our cultural roots with the principles of innovation and renewal in mind. Focusing on our
industrial clients, we lead the way in model innovation by leveraging our resource strengths and
integrated service capabilities. We will march towards our strategic vision of becoming a world-
class supply chain service enterprise with unwavering determination. Xiamen Xiangyu will cherish
the trust and expectations of our shareholders, and we will repay the support of shareholders with
concrete actions to forge a brighter future.
Xiamen Xiangyu Co., Ltd.
Chairman: Qidong Deng
April 24, 2024
I. Key Accounting Data and Financial Indicators
Unit: RMB Million
FY2022 YoY FY2021
FY2023 After Before Change After Before
Adjustment Adjustment (%) Adjustment Adjustment
TotalAssets 129,705.19 115,119.21 115,056.41 12.67 95,878.86 95,834.22
EquityAttributable to
the Shareholders of the 20,841.31 17,091.57