Holdings structure and sector division
The group holds nine core member companies in the form of holdings. Each member company operates independently within its own industry and accepts the unified management of the group in the four dimensions of safety, compliance, technical standards and capital allocation.
One group, four sectors, nine companies
The division of sectors is not based on industry classification, but on the functions performed by each member company in the group - which determines how they are assessed.
Yellow Incorporation
Transportation and travel
Aviation, national railways and urban rail transit constitute the group’s revenue base and social service interface.
Technology and Manufacturing
Consumer electronics, software platforms and industrial equipment not only serve the external market, but also serve as technology and production capacity suppliers within the group.
Medical and Health
Diagnosis and treatment network, medical research and development and primary health services are based on accessibility rather than income growth as the primary assessment criteria.
- 黄色医疗控股
Transportation business remains fundamental
The proportion of each segment in the group's operating income in fiscal year 2025. The culture and education sector has the lowest revenue share, but its budget does not adjust with the revenue share - the two are determined by different mechanisms.
- Transportation and travel58%
Aviation, national railways and urban rail
- Technology and Manufacturing26%
Consumer electronics, software platforms and industrial equipment
- Medical and Health11%
Diagnosis and treatment network, medicine and grassroots services
- Culture and Education5%
Records, Orchestras and Higher Education
Member companies operate independently, except for four things
In addition to the following four dimensions, member companies make independent decisions on products, pricing, personnel and daily operations.
安全标准
航空、铁路、城市轨道与医疗四类业务执行集团统一的安全管理体系，重大事件复盘直接提交集团安全与运营委员会。
合规与披露
行为准则、举报渠道与信息披露口径由集团统一制定，举报渠道由独立第三方运营，不经成员企业管理层转达。
技术标准
各成员企业的技术选型与数据标准须符合集团统一架构，关键系统建立在共同的计算与数据基础设施之上。
重大投资
超过授权额度的投资决策统一提交集团投资委员会审议，成员企业无权单独决策。