The company's gross margin has compressed to a nominal 2.6% as of 2024Q4, reflecting an inability to maintain pricing power amidst a 73.4% year-over-year revenue contraction.
| Sales/Revenue | 40.43M | 89M | 63.52M | 17.36M | 18.79M | 29.41M | 27.65M | 20.62M |
| Revenue Growth % | -54.57% | 40.13% | 265.89% | -7.64% | -36.1% | 6.38% | 34.1% | - |
| Cost of Goods Sold | 39.64M | 85.93M | 104.77M | 15.43M | 16.01M | 25.36M | 22.4M | 16.81M |
| COGS % of Revenue | 98.04% | 96.55% | 164.95% | 88.88% | 85.19% | 86.22% | 81.02% | 81.52% |
| Gross Profit | 792.8K | 3.07M | 2.72M | -120.17K | 2.78M | 4.05M | 5.25M | 3.81M |
| Gross Margin % | 1.96% | 3.45% | 4.28% | -0.69% | 14.81% | 13.78% | 18.98% | 18.48% |
| Gross Profit Growth % | -74.21% | 13.2% | 2359.78% | -104.32% | -31.31% | -22.78% | 37.74% | - |
| Operating Expenses | 4.83M | 2.23M | 2.82M | 367.63K | 1.37M | 1.38M | 1.21M | 1.49M |
| OpEx % of Revenue | 11.94% | 2.5% | 4.43% | 2.12% | 7.3% | 4.68% | 4.39% | 7.24% |
| Selling, General & Admin | 4.83M | 2.23M | 6.43M | 2.42M | 1.37M | 1.38M | 1.21M | 1.49M |
| SG&A % of Revenue | 11.94% | 2.5% | 10.13% | 13.93% | 7.3% | 4.68% | 4.39% | 7.24% |
| Research & Development | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| R&D % of Revenue | - | - | - | - | - | - | - | - |
| Other Operating Expenses | 0 | 0 | -3.62M | -2.05M | 0 | 0 | 0 | 0 |
| Operating Income | -4.03M | 848.9K | -100.05K | -487.8K | 1.41M | 2.68M | 4.03M | 2.32M |
| Operating Margin % | -9.98% | 0.95% | -0.16% | -2.81% | 7.51% | 9.1% | 14.59% | 11.24% |
| Operating Income Growth % | -575.27% | 948.46% | 79.49% | -134.55% | -47.22% | -33.7% | 74.1% | - |
| EBITDA | -3.23M | 1.73M | 2.09M | 950.51K | 2.93M | 4.04M | 5.41M | 3.57M |
| EBITDA Margin % | -7.99% | 1.94% | 3.3% | 5.48% | 15.6% | 13.74% | 19.57% | 17.3% |
| EBITDA Growth % | -286.96% | -17.5% | 120.29% | -67.57% | -27.46% | -25.3% | 51.7% | - |
| D&A (Non-Cash Add-back) | 804.92K | 878.57K | 2.19M | 1.44M | 1.52M | 1.37M | 1.37M | 1.25M |
| EBIT | -5.78M | 1.08M | 957.15K | -406.81K | 1.52M | 2.68M | 4.22M | 2.22M |
| Net Interest Income | -369.01K | -450.32K | -789.31K | -396.19K | -374.05K | -370.68K | -355.33K | -289.97K |
| Interest Income | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Interest Expense | 369.01K | 450.32K | 789.31K | 396.19K | 374.05K | 370.68K | 355.33K | 289.97K |
| Other Income/Expense | -2.12M | -215.24K | 267.89K | -315.19K | -263.07K | -211.02K | -173.85K | -391.12K |
| Pretax Income | -6.15M | 633.66K | 167.84K | -803K | 1.15M | 2.46M | 3.86M | 1.93M |
| Pretax Margin % | -15.22% | 0.71% | 0.26% | -4.63% | 6.11% | 8.38% | 13.97% | 9.34% |
| Income Tax | 34.41K | 268.57K | 226.17K | 135.41K | 366.44K | 821.25K | 1.01M | 688.26K |
| Effective Tax Rate % | -0.56% | 42.38% | 134.75% | -16.86% | 31.9% | 33.33% | 26.06% | 35.73% |
| Net Income | -6.19M | -9.58M | 1.9M | -938.41K | 782.3K | 1.64M | 2.85M | 1.24M |
| Net Margin % | -15.3% | -10.76% | 2.99% | -5.41% | 4.16% | 5.59% | 10.33% | 6.01% |
| Net Income Growth % | 35.41% | -605.21% | 302.06% | -219.96% | -52.38% | -42.46% | 130.59% | - |
| Net Income (Continuing) | -6.19M | 365.09K | -58.33K | -938.41K | 782.3K | 1.64M | 2.85M | 1.24M |
| Discontinued Operations | 0 | -9.94M | 1.95M | 0 | 0 | 0 | 0 | 0 |
| Minority Interest | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| EPS (Diluted) | -1.15 | -2.98 | 0.09 | -0.05 | 0.08 | 0.13 | 0.24 | 0.10 |
| EPS Growth % | 61.41% | -3467.23% | 279.51% | -160.71% | -37.54% | -45.83% | 140% | - |
| EPS (Basic) | -1.14 | -0.61 | 0.09 | -0.05 | 0.08 | 0.13 | 0.24 | 0.10 |
| Diluted Shares Outstanding | 5.4M | 3.21M | 21.43M | 19.04M | 9.63M | 12.45M | 12M | 12M |
| Basic Shares Outstanding | 5.42M | 15.8M | 21.43M | 19.04M | 9.63M | 12.45M | 12M | 12M |
| Dividend Payout Ratio | - | - | - | - | - | - | 127.17% | 35.5% |
Severe liquidity and solvency risk
As reported in recent financial filings, YGMZ experienced a staggering 73.4% year-over-year revenue decline by 2024Q4, reflecting a fundamental erosion of its market position within the Shenzhen logistics ecosystem and suggesting that the company's transactional, project-based revenue model is highly susceptible to regional industrial downturns.
The consistent downward trend in top-line performance indicates that the company is losing its ability to secure essential freight forwarding contracts. This rapid decay suggests that the firm's reliance on a concentrated customer base in Guangdong province has become a significant liability rather than a strategic advantage.
Based on the provided income statement data, YGMZ's gross margin has compressed to a nominal 2.6% as of 2024Q4, indicating that the company lacks the pricing power necessary to offset rising input costs and maintain a sustainable spread over its variable operating expenses.
The inability to maintain gross margins above low single digits implies that the company's services are viewed as a commodity by its clients. This lack of pricing leverage suggests that any competitive advantage is easily bypassed by customers switching to lower-cost independent owner-operators.
According to the latest quarterly figures, the company's operating cost structure remains fundamentally misaligned with its current revenue scale, as evidenced by the persistent inability to cover administrative overhead despite the high variable nature of its subcontracting-heavy business model.
The company's operating expenses appear to be disconnected from its shrinking revenue base, leading to significant operating losses in multiple periods. This suggests that the fixed costs associated with maintaining a fleet of 102 tractors are currently unsustainable without a substantial increase in volume.
Financial statements reveal that YGMZ's cash reserves have dwindled to approximately $698,239, a level that appears insufficient to support ongoing operations given the recent history of significant quarterly operating losses and the lack of a clear path to achieving consistent profitability.
Investors should monitor the company's ability to fund basic operations without resorting to dilutive equity raises or emergency financing. The current financial trajectory suggests that the business model may be facing an existential threat if it cannot rapidly stabilize its revenue and cost structure.
Quick answers to the most common questions about buying YGMZ stock.
For fiscal year 2024, MingZhu Logistics Holdings Limited (YGMZ) reported total revenue of $40.4M. This represents a 96.1% increase compared to $20.6M in 2017.
MingZhu Logistics Holdings Limited (YGMZ) reported a net loss of $6.2M for the fiscal year ending 2024.
MingZhu Logistics Holdings Limited (YGMZ) reported an operating income of $-4.0M, resulting in an operating profit margin of -10.0%. This margin reflects the operational efficiency of the business before interest and taxes.
MingZhu Logistics Holdings Limited (YGMZ) generated $0.8M in gross profit for the year, representing a gross profit margin of 2.0%. This demonstrates the company's core pricing power and production efficiency.