v3.26.1
Related Party Balances and Transactions
 12 Months Ended
Dec. 31, 2025
Related Party Balances and Transactions [Abstract]  
RELATED PARTY BALANCES AND TRANSACTIONS

20. RELATED PARTY BALANCES AND TRANSACTIONS

 

Related parties

 

Related Parties   Relationship
Mr. Geng Xiaogang   Founder, chief executive officer of the Company
Ms. Jia Xiaohua   Immediate family members of Founder and the management of the Group
Winpass Logistics (HK) Co., Limited   100% controlled by Ms. Jia Xiaohua
Cargo Link Logistics HK Company Limited   Owns 33% of shares of Sky Pacific Logistics HK Company Limited
Shenzhen Feijia Supply Chain Management Co., Ltd   43% shares owned by JYD YCKJ’s 48% interest minor shareholder
Xi’an Renrui Hydroacoustic Technology Engineering Co., Ltd   40% owned by Supervisor of JYD SXGYL
Xi’an Rochester Electronic Technology Co., Ltd   50% owned by Supervisor of JYD SXGYL
Shenzhen Zhongshun Jiean Estate Management Co., Ltd   90% owned by previous management of JYD NJWL
LD Global Logistics Inc   10% owned by JYD US
HYTX Logistics LLC   Owns 49% of HYTX Warehouse Inc. before March 2025
Shenzhen Oranda Global Logistics Co., Ltd   80% shares owned by Oranda’s 49% interest minor shareholder
HYTX Warehouse No. 3 LLC   20% owned by JYD US
HYTX Warehouse No. 10 LLC   49% owned by JYD US
JPEC Enterprises, Inc.   Owns 45% of LabelBridge Logistics LLC
Bin Li   Supervisor of JYD SXGYL
Hongkong Boyatong Supply Chain Management   A shareholder which holds 9.10% equity interests of the Company
Key management and their immediate family members   The Group’s key management and their immediate family members

 

Accounts receivable - related parties

 

As of December 31, 2024 and 2025, accounts receivable from related parties consisted of the following:

 

Name  Nature  As of
December 31,
2024		  

As of December 31, 2025

 
      RMB   RMB   US$ 
Xi’an Renrui Hydroacoustic Technology Engineering Co., Ltd  International trading   173,382    
-
    
-
 
The other logistics service customers  Logistic services   76,543    
-
    
-
 
Total accounts receivable - related parties, net      249,925    
-
    
-
 

 

Other receivable - related parties

 

As of December 31, 2024 and 2025, other receivable from related parties consisted of the following:

  

Name  Nature  As of
December 31,
2024		  

As of December 31, 2025

 
      RMB   RMB   US$ 
Cargo Link Logistics HK Company Limited (“Cargo Link”)  Deposit for logistic services   11,547,932    11,267,167    1,603,000 
HYTX Warehouse No. 3 LLC (“No. 3 LLC”)  Rent deposit   
-
    988,707    140,665 
Winpass Logistics (HK) Co., Limited (“Winpass”)  Deposit and prepayment for logistic services   8,725,488    59,612    8,481 
       20,273,420    12,315,486    1,752,146 

As of December 31, 2024 and 2025, the deposits paid by the Group to Cargo Link represent the deposits made for chartered airline services from Hongkong to South Asia.

 

As of December 31, 2025, the deposits paid by the Group to Warehouse No. 3 represent rental deposits for warehouse space.

 

As of December 31, 2023 and 2024, the net amount collected by Winpass on behalf of Jayud for logistics service was RMB125,049 and RMB64,539. For the year ended December 31, 2023, Winpass paid on behalf of Jayud a total amount of RMB1,784,309 and collected a total amount of RMB3,281,240. For the year ended December 31, 2024, Winpass paid on behalf of Jayud in total amount of RMB7,491,026 and collected a total amount of RMB7,430,517, which resulted in an outstanding balance of RMB64,540. In addition, the Group paid to Winpass deposits of RMB8,660,949 for chartered airline services for the year ended December 31, 2024. The deposits were fully refunded for the year ended December 31, 2025 due to the change of market for chartered airline services.

 

Prepaid expenses - related parties

 

As of December 31, 2024 and 2025, prepaid expenses from a related party consisted of the following:

 

Name  Nature  As of
December 31,
2024		  

As of December 31, 2025

 
      RMB   RMB   US$ 
Hongkong Boyatong Supply Chain Management  Logistic services   
-
    6,426,947    914,373 
Winpass Logistics (HK) Co., Limited (“Winpass”)  Logistic services   3,227,663    
-
    
-
 
Cargo Link Logistics HK Company Limited (“Cargo Link”)  Logistic services   3,468,341    
-
    
-
 
       6,696,004    6,426,947    914,373 

 

In 2025, Hongkong Boyatong Supply Chain Management was classified as a related party due to its shareholding exceeding 5%, and transactions with it were disclosed accordingly. As of February 3, 2026, it no longer holds any Class A Ordinary Shares and is no longer a beneficial owner of more than 5% of the Group.

 

As of December 31, 2024, prepaid expenses to Winpass and Cargo Link represent the prepayments for chartered airline freight services to enhance the Group’s service to USA and South Asia market. The prepayments to Winpass were fully refunded during the year ended December 31, 2025 due to the change of market for chartered airline services. The prepayments to Cargo link were fully applied against the service charges incurred during the year ended December 31, 2025.

 

Loans receivable - related parties

 

As of December 31, 2024 and 2025, loans receivable from related parties consisted of the following:

 

Name  Nature  As of
December 31,
2024		  

As of
December 31,
2025

 
      RMB   RMB   US$ 
HYTX Warehouse NO.10 LLC (“No. 10 LLC”)  Loan to a related party   
      -
    854,732    121,604 
HYTX Warehouse No. 3 LLC (“No. 3 LLC)”  Loan to a related party   
-
    230,971    32,861 
       
-
    1,085,703    154,465 

 

In January 2025, to support the operating needs of No. 3 LLC and No. 10 LLC, the shareholders of these entities agreed to provide loans in proportion to their respective ownership interests. As a result, the Group signed a one-year loan agreement with No. 3 LLC and No. 10 LLC, respectively, with a total amount of RMB1,153,389 (US$164,095). The loans bear no interest, and due in January 2026. During the year ended December 31, 2025, RMB67,686 (US$9,630) was repaid to the Group, and RMB1,085,703 (US$154,465) was outstanding as of December 31, 2025. As of the date of issuance of the consolidated financial statements, no further amounts have been collected.

Accounts payable - related parties

 

As of December 31, 2024 and 2025, accounts payable to related parties consisted of the following:

 

Name  Nature  As of
December 31,
2024		   As of December 31, 2025 
      RMB   RMB   US$ 
Cargo Link Logistics HK Company Limited (“Cargo Link”)  Logistic services   86,129    7,111,019    1,011,697 
The other logistics service providers  Logistic services   156,605    1,068,263    151,984 
       242,734    8,179,282    1,163,681 

 

Loans payable - related parties

 

As of December 31, 2024 and 2025, loan payable to a related party consisted of the following:

 

Name  Nature  As of
December 31,
2024		   As of December 31, 2025 
      RMB   RMB   US$ 
JPEC Enterprises, Inc. (“JPEC”)  Loan   
-
    158,148    22,500 
Xi’an Renrui Hydroacoustic Technology Engineering Co., Ltd (“Renrui”)  Loan   1,500,000    
-
    
-
 
Key management and their immediate family members  Loan   733,700    29,999    4,268 
       2,233,700    188,147    26,768 

 

In December 2025, LB obtained an unsecured, interest-free short-term loan from JPEC amounting to RMB158,148 (US$22,500), with a term of 300 days.

 

On November 15, 2023, Jayud borrowed a short-term loan from Renrui of RMB 3,000,000 with interest of RMB 30,000. The principle and interests were fully repaid in January 2024. In April 2024, the Group borrowed a loan of RMB 3,000,000 from Renrui with an interest rate of 6%. The loan is due in September 2025. As of December 31, 2024, principal of RMB1,500,000 was repaid and RMB1,500,000 was outstanding. The interest expense on the loan was RMB74,336 for the year ended December 31, 2024. In January 2025, the loan and its interests were fully repaid to Renrui.

 

In July 2024, the Group borrowed a one-year loan with total amount of RMB738,000 from one of its officers. The loan bears no interests. During the year ended December 31, 2024, RMB4,300 was repaid and RMB733,700 was outstanding as of December 31, 2024. In January 2025, the loan was fully repaid.

 

In June 2025, the Group obtained a series of short-term loans from one of its officers totaling RMB169,999 (US$24,186). The loans are interest-free and have maturities within six months. During the year ended December 31, 2025, RMB140,000 (US$19,918) was repaid, and RMB29,999 (US$4,268) remained outstanding as of December 31, 2025.

Other payable - related parties

 

As of December 31, 2024 and 2025, other payable to related parties consisted of the following:

 

Name  Nature  As of
December 31,
2024		   As of December 31, 2025 
      RMB   RMB   US$ 
Cargo Link Logistics HK Company Limited (“Cargo Link”)  Payment for logistics service(a)   624,125    629,456    89,554 
The other logistics service providers  Payment for logistics service / Interest payable   165,435    
-
    
-
 
       789,560    629,456    89,554 

 

(a) For the years ended December 31, 2023, 2024 and 2025, the Group paid nil, RMB62,484 and RMB5,331 (US$758) to Cargo Link.

 

Loans payable – shareholders

 

As of December 31, 2024 and as of December 31, 2025, loans payable to shareholders consisted of the following:

 

Name  Nature  As of
December 31,
2024		   As of
December 31,
2025		 
      RMB   RMB   US$ 
Huang Jianhong  Loan   658,000    
-
    
-
 
Jia Xiaohua  Loan   1,000,000    
-
    
-
 
Wang Qing  Loan   300,000    
-
    
-
 
Yi Yu  Loan   5,697,800    
-
    
-
 
Peng ZhongLiang  Loan   1,000,000    
-
    
-
 
       8,655,800    
-
    
-
 

 

For the year ended December 31, 2024, the Group borrowed a total amount of RMB16,274,505 with 0~6% interests from five shareholders of the Group with one week to 19 months terms. The interest expense on these loans was RMB738,933 during the year ended December 31, 2024. For the year ended December 31, 2024, the Group repaid a total of RMB7,618,705 to these shareholders. For the year ended December 31, 2025, the Group fully repaid the loans to the shareholders.

 

Other payable – shareholders

 

Other payable to shareholders represents the interests on the shareholder loans above and business reimbursement payable to the Group’s shareholders. As of December 31, 2024, other payable to shareholders amounted to RMB613,820. During the year ended December 31, 2025, the shareholders waived the entire amount of such interest pursuant to a supplemental agreement to the loan contracts.

Other payable – shareholders - non-current

 

As of December 31, 2024 and 2025, other payable to shareholders consisted of the following:

 

Name  Nature  As of
December 31,
2024		   As of
December 31,
2025		 
      RMB   RMB   US$ 
Geng Xiaogang  Dividend   6,225,000    6,225,000    885,642 
Jia Xiaohua  Dividend   712,500    712,500    101,369 
       6,937,500    6,937,500    987,011 

 

Related party transactions

 

For the years ended December 31, 2023, 2024 and 2025, the Group had the following material related party transactions:

 

      For the years ended December 31, 
Related Parties  Nature  2023   2024   2025 
      RMB   RMB   RMB   US$ 
Winpass Logistics (HK) Co., Limited  Purchase of logistic services   549,714    416,482    312,448    44,453 
Cargo Link Logistics HK Company Limited  Purchase of logistic services   62,063,334    50,581,355    60,497,759    8,607,125 
HYTX Warehouse No. 10 LLC  Purchase of logistic services   
-
    
-
    1,537,924    218,803 
The other logistics service providers  Purchase of logistic services   
-
    1,005,698    1,211,649    172,383 
Shenzhen Feijia Supply Chain Management Co., Ltd  Provided logistic services   196,575    
-
    
-
    
-
 
Shenzhen Oranda Global Logistics Co., Ltd  Provided logistic services   
-
    1,139,001    
-
    
-
 
LD Global Logistics Inc  Provided logistic services   
-
    355,927    2,138,150    304,198 
The other logistics service customers  Provided logistic services   
-
    349,786    
-
    
-
 
Shenzhen Feijia Supply Chain Management Co., Ltd  Purchase of equipment   108,407    
-
    
-
    
-
 
Shenzhen Feijia Supply Chain Management Co., Ltd  Penalty for early termination of lease   835,527    
-
    
-
    
-
 
Hongkong Boyatong Supply Chain Management  Purchase of products and other services   
-
    
-
    176,400,632    25,096,835 
Hongkong Boyatong Supply Chain Management  Sales of products and other services   
-
    
-
    5,413,282    770,157 
The other logistics service customers  Sales of products and other services   4,749    885,180    491,170    69,880 
Shenzhen Zhongshun Jiean Estate Management Co., Ltd  Rent of offices and warehouses   14,469,603    
-
    
-
    
-
 
Key management and their immediate family members  Interest expenses of loans   30,000    780,985    -    - 
Xi’an Renrui Hydroacoustic Technology Engineering Co., Ltd  Interest expenses of loans   24,643    99,693    -    -