**"DSGX's Revenue Soars: A 12.91% Growth Amidst a Booming Logistics Landscape

Performance of the Current Financial Report

The total operating revenue of Descartes Logistics Systems Group (DSGX) on January 31, 2025 was RMB167,471,000, up approximately 12.91% from RMB148,226,000 on January 31, 2024. This growth indicates a significant improvement in the company's operating revenue.

Key Data in the Financial Report

1. The total operating revenue on January 31, 2025 was RMB167,471,000, up approximately 12.91% from RMB148,226,000 on January 31, 2024.

2. The company's net profit in 2025 was US$143 million, with a basic earnings per share of US$1.68, showing a good market performance.

3. The company continues to focus on improving operational efficiency through technological innovation and cost control to adapt to changes in global logistics demand.

4. The business model of Descartes Logistics Systems Group relies on its global logistics network, with customers usually signing long-term contracts, ensuring the stability and continuity of revenue.

Peer Comparison

1. Industry-wide analysis: The logistics industry as a whole shows a growth trend, especially in the context of the rapid development of e-commerce and international trade, with industry demand continuing to rise. Many logistics companies have reported revenue growth. Overall market demand is expected to continue to be supported by policies, and domestic demand is expected to maintain strong growth, especially in the express delivery and e-commerce sectors.

2. Peer evaluation analysis: Compared with other companies in the same industry, DSGX's growth rate (12.91%) is at a relatively high level, showing its relative market competitiveness and operational efficiency. Major express delivery companies such as SF, YTO, etc. reported a YoY growth in business volume of 17.7%, 70.0%, 48.8% and 63.4% respectively in early 2025, showing a strong growth momentum in the industry.

Summary

DSGX's revenue growth in 2025 is significant, reflecting its competitive advantage and good business strategy in the market. The improvement of market demand, optimization of product mix, and improvement of sales strategies are important factors driving the company's revenue growth.

Opportunities

1. The company continues to invest in technological innovation, which may further enhance service quality and market competitiveness.

2. With the rapid development of e-commerce and international trade, the overall demand for the logistics industry is expected to continue to grow, bringing more business opportunities for the company.

3. Descartes Logistics Systems Group can leverage its global logistics network to expand into more international markets and achieve revenue diversification.

Risks

1. The industry competition may intensify, especially in the express delivery business, which may put pressure on the company's profit margin.

2. Fluctuations in the overall economic environment may affect the demand for the logistics industry, thus affecting the company's operating revenue.

3. If the company fails to respond to market changes or technological innovation in time, it may be at a disadvantage in competition.