KGW to Raise RM16.73 Million from ACE Market IPO

KUALA LUMPUR, Jun 30, 2023 – (ACN Newswire) – KGW Group Berhad, a provider of logistics services including ocean freight services, air freight services and freight forwarding services as well as warehousing and distribution of healthcare-related products and devices, today launched the Group's prospectus for the upcoming initial public offering ("IPO") on the ACE Market of Bursa Malaysia Securities Berhad.

The IPO will raise RM16.73 million via the issuance of 79.66 million new shares at the IPO price of RM0.21 per share to fund KGW's future expansion as well as for working capital and repayment of bank borrowings. The proceeds will be used in the following manner:

– RM2.00 million to renovate the Group's three-storey office building and adjacent two-storey warehouse
– RM0.73 million for working capital purposes
– RM10.00 million to repay bank borrowings
– RM4.00 million allocated for estimated listing expenses

Managing Director of KGW, Dato' Roger Wong said, "We are an asset-light logistics provider that specialises in managing and coordinating the movement of goods within the supply chain. Instead of owning physical transportation assets such as ships, trains, or aircraft, we focus on providing more valuable services to our customers to facilitate their whole shipment process for better efficiency by leveraging partnerships and collaborations with existing transportation operators."

Head of Corporate Finance of TA Securities Holdings Berhad, Mr. Ku Mun Fong said, "The Group has developed a solid network with other logistics services providers in various parts of the world throughout the years of operation. This has enabled the Group to arrange for shipping of goods from Malaysia to various locations including those in Asia, Africa, Europe, North and South America. This gives the Group an edge in competing and growing the business."

Managing Director of Eco Asia Capital Advisory Sdn. Bhd., Mr. Kelvin Khoo said, "KGW Group will implement several strategies such as actively expand its pool of customers exporting to non-USA destinations, expand its headcount to scale up operations, expand its warehousing services for healthcare related products and develop new business opportunities for their logistics services through providing e-commerce solutions. Under the stewardship of Dato' Roger and his Management team, we are very confident that KGW will be able to successfully implement their future business plan after its Listing, and will be able to further strengthen their presence in the logistics industry."

KGW recorded revenue of RM43.38 million, RM63.52 million, RM195.42 million and RM229.70 million for the financial year ended 31 December 2019 ("FYE 2019"), FYE 2020, FYE 2021 and FYE 2022 respectively. The Group registered profit before tax of RM0.60 million, RM2.86 million, RM20.75 million and RM21.87 million for FYE 2019, FYE 2020, FYE 2021 and FYE 2022 respectively.

TA Securities is the Principal Adviser, Sponsor, Underwriter and Placement Agent for the IPO while Eco Asia is the Financial Adviser.

KGW Group Berhad: https://www.kgwlogistics.com/

Image
1. Ms. Kelly Neng, Director, Eco Asia Capital Advisory Sdn Bhd
2. Mr. Kelvin Khoo, Managing Director, Eco Asia Capital Advisory Sdn Bhd
3. Mr. Ku Mun Fong, Head of Corporate Finance, TA Securities Holdings Berhad
4. Tengku Faizwa Binti Tengku Razif, Independent Non-Executive Chairman, KGW Group Berhad
5. Dato' Roger Wong, Managing Director, KGW Group Berhad
6. Ms. Cheok Hui Yen, Executive Director/ Chief Operating Officer, KGW Group Berhad
7. Mr. Tah Heong Beng, Executive Director, Operations, TA Securities Holdings Berhad [L-R]
( https://photos.acnnewswire.com/20230630.KGW.jpg )

Copyright 2023 ACN Newswire. All rights reserved. http://www.acnnewswire.com

transport logistic Southeast Asia bringing the global industry together at the number one logistics hotspot

New branch of the world’s leading trade fair transport logistic

Singapore, May 16, 2023 – (ACN Newswire) – Messe München is hosting the first multimodal logistics trade fair in Singapore, the transport logistic and air cargo Southeast Asia. Running from November 1 to 3, 2023, the event will be the most influential meeting place for logistics, mobility, IT, and supply chain management in Southeast Asia. Singapore, which took the top spot among the 179 countries in the World Bank’s Logistics Performance Index (LPI), is leading the way, but the ASEAN countries as a whole are also gaining importance as strategic logistics hubs both now and in the future. This places transport logistic in a hotspot of the industry.

Dr. Reinhard Pfeiffer, co-CEO of Messe München, Prof. Dr.-Ing. Thomas Wimmer, Chairman of the Board of BVL – Bundesvereinigung Logistik, Stefan Rummel, co-CEO of Messe München, and Michael Wilton, Managing Director of MMI Asia, at the loading of a Singapore Airlines aircraft at Munich Airport.

Markus Heinelt, Director Cargo Development, Munich Airport, Jaisey Yip, Vice President Cargo Business Division, Changi Airport Group, Peter Dressler, Vice President Logistics, Infineon Technologies, and Asok Kumar, EVP Global Air Freight, DB Schenker, discussed with Prof. Dr. Christopher Stoller, President, aircargo club Germany, the growing importance of Southeast Asia for global flows of goods.

From 1 to 3 November 2023, the inaugural edition of the new trade fair transport logistics and air cargo Southeast Asia will gather key players in global supply chains at the Sands Expo and Convention Centre in Singapore.

The LPI ranking gave Singapore the best scores in the quality of logistics services, competence and infrastructure categories. With its favorable geographical and geopolitical location on the Strait of Malacca, the city-state is home to one of the world’s most important transshipment hubs with its port. Handling a good 37 million TEU, Shanghai was the only port that was more successful last year. The Tuas Port, which was opened last year, is currently creating 65 million TEU of additional capacity. The Asia-Pacific region is one of the most important markets for air freight, as well. Overall, ASEAN countries are catching up with China, the largest consumer market and production location. These countries are also considered reliable partners from a strategic geopolitical perspective.

“Singapore has become an important asset in Messe München’s strategic positioning, which for us extends far beyond Southeast Asia,” explain Messe München’s co-CEOs Stefan Rummel and Dr. Reinhard Pfeiffer at a press event prior to transport logistic, which will open its doors on 9 May at the Munich exhibition centre: “The fact is: Germany still belongs to the world’s top group in logistics. This is precisely why the world’s leading logistics trade fair, transport logistic, is held here in Munich for many years – with multiple spin-offs in China, Turkey, South Africa and now Southeast Asia, for example. Singapore is the logistics world champion. Where else, if not here, should the latest addition to the transport logistic cluster be launched?”

Jost Lammers CEO of Munich Airport: “I congratulate Messe München on its decision to establish an offshoot of the transport logistic trade fair in Singapore. Against the background of the agreement on the liberalization of traffic rights between the EU and the ASEAN countries in 2022, the launch comes at exactly the right time and will further boost relations between the two strong economic regions. The Munich Premium Hub is already well connected to Southeast Asia with two daily flights to Singapore and Bangkok, and we are optimistic that more destinations are to come.” Lammers also emphasizes, “One-third of all German airfreight volume to and from Southeast Asia is generated in the ‘powerhouse of southern Germany’ – this offers further growth potential for the Munich hub.”

Asok Kumar, EVP Global Air Freight at DB Schenker, also sees enormous potential: “Southeast Asia is a playing field for new business opportunities in logistics. We are confident that both export growth and consumer demand will bounce back there, also because of the overall upturn of the intra-Asia consumer market. As a logistics player with presence in all Southeast Asian countries, we are prepared to support our customers’ needs for end-to-end supply chain solutions in these complex yet promising markets.”

Peter Dressler, Vice President Logistics, Infineon Technologies AG, confirms the great importance of Southeast Asia for Infineon: “We have sites in Malaysia, Indonesia, Singapore, Thailand and the Philippines. Many production partners are in the Southeast Asian region. Singapore is an important hub for us in logistics, not only because of its location, but also because the focus there is on highly automated and digitized logistics processes. This fits in with our own business as a semiconductor manufacturer, but above all it enables the speed and reliability that our customers and we need.”

Ms Jaisey Yip, Vice President, Cargo Business Division, Changi Airport Group, adds: “Despite economic headwinds, Southeast Asia’s air trades with the rest of the world continued to expand over the past four years. Given the expectation of strong long-term progress with urbanisation and industrialisation, Southeast Asia is primed for growth in manufacturing, trades and logistics. The Changi air cargo hub, being in the heart of Southeast Asia, will have a critical role to play in global supply chains, facilitating the flow of international goods with its well-developed connectivity, cargo infrastructure and capabilities.”

Prof. Christopher Stoller, President of the aircargo club deutschland, who moderated the discussion, also sees positives in the further strengthening of Singapore: “We see Singapore as another important link in the international supply chains that serve Germany as a business location.”

“Singapore is the gateway to the greater Southeast Asia region and the most dynamic and exciting hotspot for transport and logistics right now. Many global companies are already active here, and many more want to come to reap the rewards of the attractive conditions. By offering transport logistic and air cargo Southeast Asia, we are creating a platform for shippers and transport and logistics service providers to develop and expand their business in the region. We are experiencing great interest in our new trade fair across all modes of transport,” remarks Michael Wilton, Managing Director of MMI Asia, Messe München’s regional subsidiary.

Messe München organizes leading global events for the transport, logistics, and air freight industries. transport logistic Southeast Asia is the latest in a series of flagship fairs that include India (Mumbai), China (Shanghai), Turkey (Istanbul), South Africa (Johannesburg), the U.S. (Miami), and the world’s largest logistics event in Munich (Germany).

To learn more, please visit https://transportlogisticsea.com/

About MMI Asia Pte. Ltd

A full subsidiary of Messe München GmbH, MMI Asia established in Singapore in 1992, is now embarking on a significant growth and expansion program, bringing some of Messe München’s world leading brands to the Southeast Asia market. transport logistic and air cargo Southeast Asian editions are organized by MMI Asia Pte Ltd.

transport logistic exhibitions

The international industry network of transport logistic exhibitions consists of ten events. In addition to the leading international trade fair transport logistic in Munich, transport logistic China takes place every two years in China, and the transport logistic China Forum alternates with it every year, both in Shanghai. In Turkey, Messe München and EKO Fair Limited organize the logitrans International Transport Logistics Exhibition in Istanbul every year. Messe München is organizing transport logistic Americas, which will be held every two years in Florida starting in November 2022. From November 2023, transport logistic Southeast Asia will also be held in Singapore for the first time. At all trade fairs, the air cargo sector plays an essential role. As part of transport logistic in Munich, air cargo Europe is the world’s largest air cargo trade fair, while air cargo China is the leading event in Asia. In addition, air cargo India and air cargo Africa are independent trade fairs. Also part of the transport logistic exhibitions is the cooperative transport logistic India @ CTL in Mumbai, India.

Messe München

Messe München is one of the leading exhibition organizers worldwide with more than 50 of its own trade shows for capital goods, consumer goods and new technologies. Every year, a total of over 50,000 exhibitors and around three million visitors take part in more than 200 events at the exhibition center in Munich, at the ICM – Internationales Congress Center München, the Conference Center Nord and the MOC Veranstaltungscenter München as well as abroad. Together with its subsidiary companies, Messe München organizes trade shows in China, India, Brazil, South Africa and Turkey. With a network of associated companies in Europe, Asia, Africa, and South America, and with around 70 representatives abroad for more than 100 countries, Messe München has a truly global presence.

Contacts:

Sabine Wagner
PR Manager
press.shows@messe-muenchen.de

Adam Paulus
Exhibition Director
transport logistic Southeast Asia / air cargo Southeast Asia
adam@mmiasia.com.sg

Janin Detjen
PR-Kontakt
c/o Medienbüro am Reichstag
janin.detjen@mar-berlin.de
+49 302061413032

transport logistic Southeast Asia bringing the global industry together at the number one logistics hotspot

SINGAPORE, May 9, 2023 – (ACN Newswire) – Messe München is hosting the first multimodal logistics trade fair in Singapore, the transport logistic and air cargo Southeast Asia. Running from November 1 to 3, 2023, the event will be the most influential meeting place for logistics, mobility, IT, and supply chain management in Southeast Asia. Singapore, which took the top spot among the 179 countries in the World Bank’s Logistics Performance Index (LPI), is leading the way, but the ASEAN countries as a whole are also gaining importance as strategic logistics hubs both now and in the future.

For more information visit https://transportlogisticsea.com/

About MMI Asia Pte. Ltd

transport logistic exhibitions

The international industry network of transport logistic exhibitions consists of ten events. In addition to the leading international trade fair transport logistic in Munich, transport logistic China takes place every two years in China, and the transport logistic China Forum alternates with it every year, both in Shanghai. In Turkey, Messe München and EKO Fair Limited organize the logitrans International Transport Logistics Exhibition in Istanbul every year. Messe München is organizing transport logistic Americas, which will be held every two years in Florida starting in November 2022. From September 2023, transport logistic Southeast Asia will also be held in Singapore for the first time. At all trade fairs, the air cargo sector plays an essential role. As part of transport logistic in Munich, air cargo Europe is the world’s largest air cargo trade fair, while air cargo China is the leading event in Asia. In addition, air cargo India and air cargo Africa are independent trade fairs. Also part of the transport logistic exhibitions is the cooperative transport logistic India @ CTL in Mumbai, India.

Messe München

Contact:

Sabine Wagner
PR Manager
press.shows@messe-muenchen.de

Adam Paulus
Exhibition Director
transport logistic Southeast Asia / air cargo Southeast Asia
adam@mmiasia.com.sg

Janin Detjen
PR contact
c/o Medienbüro am Reichstag
janin.detjen@mar-berlin.de
+49 302061413032

CIMC Group Announces 2022 Annual Results

HONG KONG, Apr 7, 2023 – (ACN Newswire) – On March 28, CIMC Group (000039.SZ/02039.HK), a world leading supplier of logistics and energy equipment, announced its audited results for the year ended December 31, 2022 ("FY2022 ").

1. FY2022 Key Highlights

Total revenue was RMB141.5 billion, maintaining above RMB 100 billion level. Net profit attributable to shareholders and other equity holders of the Company after deducting non-recurring profit or loss was RMB 4.28 billion, the second highest performance in history
— Total revenue was RMB141.5 billion, a decrease of 13.54% YoY; The share of domestic income rose steadily to 51.5 percent.
— The gross profit was RMB21.6 billion and the gross profit margin was 15.28%.
— The operating profit was RMB7.505 billion, a decrease of 44.29% YoY.
— Net profit attributable to shareholders and other equity holders of the Company was RMB3.219 billion , a decrease of 51.70% YoY; Net profit attributable to shareholders and other equity holders of the Company after deducting non-recurring profit or loss was RMB4.28 billion , the second highest level in history.
— The consolidated asset-liability ratio decreased from 63% to 57%, mainly due to disposal of CIMC Financial Leasing and absorption of minority shareholders' funds by subsidiaries.
— The final dividend of 2022 is planned to be RMB 1.8 (tax included) per 10 shares, and the dividend payout ratio is maintained at 30%.

7 Major segments financial results
— Container manufacturing: Revenue was RMB45.71 billion, a decrease of 30.71% year-on-year, accounting for 32.3% of revenue. Gross profit was RMB10.77 billion, with a gross profit margin of 23.56%, a decrease of 2.08% year-on-year.
— Road transportation vehicles: Revenue was RMB23.62 billion, a decrease of 14.57% year-on-year, accounting for 16.69% of revenue. Gross profit was RMB3.1billion, with a gross profit margin of 13.28%, a increase of 2.26% year-on-year.
— Energy, chemical and liquid food equipment: Revenue was RMB21.25 billion, an increase of 8.82% year-on-year, accounting for 15.01% of revenue. Gross profit was RMB3.6 billion, with a gross profit margin of 17.01%, an increase of 1.59% year-on-year.
— Offshore engineering: Revenue was RMB5.77 billion, an increase of 6.07% year-over-year, accounting for 4.08% of revenue. Gross profit was RMB0.4 billion, with a gross profit margin of 6.87%, an increase of 7.28% year-on-year.
— Airport facilities and logistics equipment, fire safety and rescue equipment: Revenue was RMB6.7 billion, a decrease of 2.49% year-on-year, accounting for 4.71% of revenue. Gross profit was RMB1.4 billion, with a gross profit margin of 21.64%, an increase of 0.51% year-on-year.
— Logistics services: Revenue was RMB29.35 billion, a decrease of 0.42% year-on-year, accounting for 20.73% of revenue. Gross profit was RMB1.6 billion, with a gross profit margin of 5.35%, a decrease of 1.70% year-on-year.
— Recycled load: Revenue was RMB4.85 billion, a decrease of 19.40% year-on-year, accounting for 3.43% of revenue. Gross profit was RMB0.8 billion, with a gross profit margin of 16.41%, a decrease of 2.57% year-on-year.

2. 2022 Business Review

1) Consolidate the core advantages of the manufacturing industry and lead the green, intelligent and digital transformation of the industry
— The container manufacturing segment has entered the period of "star-driven" strategy. While the sales volume of the star and satellite business has consolidated the first place in the world, the manufacturing process has continued to lead the green upgrade of the container industry through the "digital workshop" and "future factory".
— The road transportation vehicles business maintains the first place in global semi-trailer sales and the top ranking in the domestic special-purpose vehicle market. At the same time, based on the advantages of transoceanic operation, the overseas market performance of the road vehicle business is strong, and the sales of semi-trailers of multiple categories rank top in North America and Europe market.
— The energy, chemical and liquid food business has achieved steady growth in the three main tracks of "energy equipment, chemical equipment, and liquid food equipment", and the core business has maintained its leading advantages at home and abroad
— The strategic transformation of the offshore engineering business has achieved remarkable results. Seizing the opportunities in the dual prosperity track of offshore oil and gas equipment and clean energy, the dollar amount of newly signed orders and orders in hand increased by 77% and 122% respectively year-on-year
— The airport facilities and logistics equipment business further consolidated its leading edge in airport equipment, and officially delivered Asia's first driverless boarding bridge for use, promoting the intelligent revolution of China's airports.

Specifically, In the revolution of green energy replacing fossil energy, CIMC Group are always full of ambitions in the field of new energy, and prepared for changes in technological routes. CIMC Group have made an all-round layout for key equipment such as hydrogen energy, offshore photovoltaics, offshore wind power, and energy storage.
— In terms of hydrogen energy, the market share of CIMC hydrogen energy "storage, transportation and processing" equipment has increased significantly. During the period, CIMC have also strengthened the upstream "hydrogen production" capacity, and reserved coke oven gas hydrogen production and electrolyzer hydrogen production equipment technology. In 2022, CIMC Group has deployed the entire industrial chain advantages to show great development potential for the Beijing Winter Olympics and the hydrogen industry to provide solutions for electrolyzed water hydrogen production, hydrogen energy storage and transportation solutions, and pressure regulation hydrogen supply system solutions.
— In terms of offshore photovoltaic and offshore wind power, CIMC have arranged high-end equipment such as offshore wind power installation ships and booster stations in an orderly manner, and actively received orders in domestic and overseas markets.
— In the maintenance business, breakthroughs were made for major customers in various businesses such as wind turbines and underwater anti-corrosion testing.
— In terms of energy storage, CIMC group have complete long-term and short-term technical routes, and the battery energy storage business has delivered energy storage integrated systems to industry leaders in batches.

2) Seeking progress in a stable manner and continuously expanding the growth point of service revenue.
— The Group's service revenue exceeds RMB 30 billion, accounting for about 21% of the total revenue.
— The logistics service segment is a major starting point for CIMC to transform the service industry. Relying on the advantages of "equipment + technology", it will penetrate the value chain of the logistics and transportation industry vertically and horizontally
— It expands asset operation business on general equipment such as road transportation vehicles and cycle carriers.
— The after-market service of special equipment products enhances customer stickiness with professional, digital and intelligent services and expands revenue sources.

3) Maintain product leadership, lead in technological innovation, and constantly emerge specialized and special innovations
— We have increased our investment in R&D, with an annual investment of RMB 2.520 billion, up 12.48% year-on-year and accounting for 1.78% of our revenue, which is higher than last year.
— The Group has 9 national "small giant" enterprises and 6 national manufacturing single champion enterprises (products).
— This year, four of the Group's patents won the 23rd China Patent Award, the highest number of awarded patent projects in the past years.

4) ESG is integrated into operations to implement business for good.
— Awarded AA rating by Wind, ranking first in the machinery industry and among the top 10 A-shares; tied for second place in the "Top 100 Chinese Enterprises in Sustainability 2022" and selected for the fourth consecutive year; selected again as a constituent stock of the Hang Seng A-share Sustainability Enterprise Benchmark Index.
— In July 2022, CIMC Charity Fund was established to contribute to the education of our country, and the number of recipients is expected to cover nearly 2,000 people in 2025.
— Promote the management of greenhouse gas emissions and actively respond to climate change. in 2022, the Group's carbon emission intensity (tons of CO2 equivalent/billion yuan of revenue) will be reduced by 16% compared with the previous year.

3. Strategic Progress and Outlook for 2023

The Group will continue to enhance and integrate its advantages in "logistics, energy equipment manufacturing + services", and focus on consolidating its position as an industry leader, so as to promote the consolidation and improvement of the Group's overall performance in the future. On the one hand, the Group will continue to consolidate its main business of equipment manufacturing, integrate upstream and downstream industrial chain resources, provide more comprehensive and integrated services, and accelerate the promotion of green, digital, and intelligent transformation and upgrading of products, so as to build up its leadership in products through technological innovation. On the other hand, we will adhere to the national development strategy as the guide and seize the historical opportunities in the "smart logistics" and "clean energy" sectors to broaden the connotation scope of the existing advantageous main business, and will also focus on the four strategic themes of "cold chain", "clean energy", "clean water and lush mountains" and "rural revitalization" to build core competitiveness in emerging businesses.

(1) In the Logistics Field:
Container Manufacturing Business
It is expected that the supply and demand in the container shipping market may maintain a slight balance in 2023, and the demand of containers, compared to the previous level, will also return to normal. In light of the large volume of over-aged old containers to be phased out and replaced, the replacement demand will provide continuous support for the market. In long term, the recovery of global trade will be promising, and the core segment of demand in the container market is expected to show a stable-to-rising trend. Container Manufacturing Business will optimise connotation, improve its comprehensive competitiveness and consolidate its leading position in the industry through continuous investment as well as management improvements in technology and equipment, such as the Dragon Project.

Road Transportation Vehicles Business
In 2023, with the demand for logistics and transportation in China gradually recovering, that for semi-trailers was also undergoing a rebound, which, in combination with the tightening implementation of the new national standards for semi-trailers, will certainly lead to an acceleration of the upgrading and iteration of semi-trailers in China. With the increase in demand for retail consumption of the North American residents, that for road transportation and semi-trailer equipment in North America is expected to remain buoyant. Since the introduction of the National VI emission standards, the impact of such a switch in emission standards on the special purpose vehicle industry has gradually diminished, which is expected to meet with a resurgence, with the penetration rate of new energy special purpose vehicles gradually increasing. With the ending of the transition period of the new regulations on the blue-plate light trucks, the trend of the light truck industry's compliant development is getting increasingly obvious, with new energy light trucks entering a fast lane of development.

Airport Facilities and Logistics Equipment, Fire Safety and Rescue Equipment Business
In respect of the airport facilities and logistics equipment business: On the one hand, smart airport will continue to be a global trend, and intelligence will accelerate the electric upgrading and updating of obsolete equipment in the airports; meanwhile, as the continuing and rapid development of the air transportation industry as well as the increasing air cargo logistics projects, logistics equipment system provider will carry out comprehensive competition in terms of timeliness, reliability and mass production; on the other hand, in 2023, the domestic and overseas aviation logistics is expected to continue to recover, the number of air passengers and cargo transportation will increase significantly, and it is expected that a large number of delayed procurement needs in the early stage will also be made.

In respect of the safety and rescue equipment business: Upon the establishment of the Ministry of Emergency Management, the fire rescue work converts from "single disaster" into "comprehensive rescue", accompanied by higher demand for fire safety and rescue equipment as well as the increasing market needs in relevant industry. To respond the big-data construction of "smart fire safety" across China, the active development of intelligent, modular, unmanned and high-performance firefighting and rescue equipment, the enrichment of emergency products and technologies, the promotion of application of new technologies and new energies in the fire safety and rescue industry are trends of the development of the industry for a long time in the future.

Logistics Services Business
The Group will enhance the domestic and foreign cargo collection capacity for its Logistics Services Business, continually provide reliable, professional, flexible, customized, integrated and end-to-end logistics service plans for its customers through 1) focusing on the key sector of multimodal transport, expanding the global landscape, strengthening the deployment of local service capacity in international ports of destination, and increase joint venture cooperation with railways, connecting the multimodal transport including "river, sea, land, railway, air" by domestic and international hub nodes, to enhance its cargo control capability at home and abroad; exploring and building green transportation resources, comprehensively enhancing its capability in serving the entire chain, and accelerating its layout in specialized logistics service fields such as fresh and cold chain logistics, clean energy logistics and special cargo logistics; 2) in terms of logistics technology, increasing investment in R&D, building a digital visualization platform, enhancing standardized operation, exploring the application and operation platform of intelligent equipment, comprehensively enhancing its technological capability, and facilitating the green, digital intelligence and high-quality development of multimodal transport, to continually provide stable, excellent and smooth logistics service for its customers.

Recycled Load Business
Looking forward to 2023, leveraging on the advantages of enhancing quality and reducing costs, the operation concept of recycled loads will continually permeate in the industrial sectors, and with the recovery of domestic consumption, the market demand for recycled loads will also increase. The new energy industry represented by the sectors of new energy battery and photovoltaic will continue to develop rapidly, and thereby, drive the rapid development of new energy recycled loads business.Apart from strengthening the existing operations, the Group will continue to enhance its business expansion, optimise and improve the operation capacity for the recycled loads business.

(2) In the Energy Industries Field:
Energy, Chemical and Liquid Food Equipment Business
Clean Energy: In the long run, benefiting from the carbon neutrality, the demand for and the proportion in primary energy consumption of natural gas still have more room for improvement. Accompanied by the gradual transformation of supply pattern of global energy, the demand for infrastructure of import and export terminals will continue to increase, and the storage and transportation equipment business may be expanded as a positive result of the increased proportion of natural gas consumption. Especially, as for hydrogen energy, 2023 will be the booming stage of hydrogen energy policies, and will be functioning as the bridge of the implementation of industrial commercialisation, promote the multidimensional and collaborative development of the upstream,midstream and downstream sectors of the industry.

Chemical Environment: Under the background of iterative upgrading of global industry as well as the stringent implementation of the laws and regulations related to safety and environmental protection, the chemical products gradually transformed from a low and primary level into a high-end and high-value-added level, leading to the diversifying demands for the tank containers. China, as the largest chemical production and consumption market in the world, is committed to promoting the professional and safe transportation of chemical products, advocating the construction of professional transportation and loading equipment and supporting facilities of chemical products, which provides more development opportunities for the application of tank containers.

Liquid Food: According to the research report issued by Imarc Group on the global food and beverage processing equipment market, the scale of such market reached US$58.2 billion in 2022, which is expected to achieve a growth rate of 5.3% each year (i.e. the compound annual growth rate (CAGR)) from 2023 to 2028, the global beer market is expected to grow at a CAGR of 3.7%, and the Asia-Pacific region will achieve the highest growth rate. The demand for Whisky and other spirits is also expected to grow rapidly in the future, including the mechanized and intelligent transformation of production lines of white wine under the continuous promotion of relevant industrial policies in China.

Offshore Engineering Business
Looking forward to 2023, in respect of the oil and gas platform business: higher oil prices and the trend of continuous exploration and production of oil and gas in ultra-deep water have made the traditional offshore oil and gas business gradually recover, among which the FPSO business has performed well. It is expected that, benefiting from Petrobras' oil production increase plan in the medium to long run, the number of orders newly signed in the FPSO market has grown strongly, and the capacity utilization rate of offshore manufacturers will be greatly improved in the next three to five years. In respect of the clean energy business: carbon neutrality brings major development opportunities for the industry. Offshore wind power, hydrogen energy utilization, offshore photovoltaics will form a huge industry scale, which will further consolidate the transformation of global offshore engineering equipment. Offshore wind power installation related equipment and operation and maintenance services will develop rapidly. In respect of the special vessels business: the continual growing sales of new energy vehicles worldwide promotes the expansion of global automobile seaborne trade volume, which, superimposed by factors such as environmental protection, will lead to strong demand for new-build ro-ro ships.

Copyright 2023 ACN Newswire. All rights reserved. http://www.acnnewswire.com

Messe Munchen brings first multimodal trade fair for logistics services to Singapore

Singapore, Mar 27, 2023 – (ACN Newswire) – Messe München takes its international logistics cluster for the first time to Southeast Asia. From 1 to 3 November 2023, the inaugural edition of the new trade fair for transport logistics and air cargo will gather key players in global supply chains such as DP World, Dubai South, DHL, dnata, Changi Airport and Etihad in Singapore. Its timing is well chosen, as established trade routes are increasingly shifting in the wake of global crises to find new ways to reliably connect global markets. Singapore and the entire Southeast Asian region are of particular relevance in this development, as the location is already one of the leading hubs and is likely to become even more dynamic in the future as an internationally trusted region from a geopolitical perspective.

The interest in the first transport logistic Southeast Asia is correspondingly high: “The current occupancy of two halls at the Sands Expo and Convention Centre already exceeds the originally expected size of the exhibition. We are currently planning to add a third hall,” confirms Michael Wilton, CEO of MMI Asia, the regional subsidiary of Messe München, the positive response. In total, up to 10,000 square meters of space will be available on site for exhibitors and visitors. In addition to the key topics of global logistics such as digitization and sustainability, the thematic focus of the associated conferences consequently also includes resilience.

With Singapore having historically been a major hub for trade to and from Asia, many of the world’s logistics service providers already have their branches and regional headquarters there. In addition, the Singapore shipper network is also strong. Many of the shippers that have a presence in the ASEAN region or throughout Asia are also present in Singapore. The three-day event will provide managers of supply chains and distribution networks with access to the companies providing these services and gives them the opportunity to present their services and products to the market.

“With Southeast Asia, we are expanding our transport logistic portfolio to include a new and very dynamic world region. This allows us to attract new customers and partners to our show and to help existing customers who are present at our events around the world to enter new markets in an emerging region,” adds Dr. Robert Schoenberger, Head of transport logistic exhibitions.

Messe München is the organizer of the world’s leading events for the transport logistics and air cargo industry. transport logistic Southeast Asia is the latest in a series of leading trade fairs that includes India (Mumbai), China (Shanghai), Türkiye (Istanbul), South Africa (Johannesburg), the Americas (Miami) and the world’s largest logistics event and mother show in Munich.

For more information visit https://transportlogisticsea.com/

About MMI Asia Pte. Ltd

transport logistic exhibitions

The international industry network of transport logistic exhibitions consists of ten events. In addition to the leading international trade fair transport logistic in Munich, transport logistic China takes place every two years in China, and the transport logistic China Forum alternates with it every year, both in Shanghai. In Turkey, Messe München and EKO Fair Limited organize the logitrans International Transport Logistics Exhibition in Istanbul every year. Messe München is organizing transport logistic Americas, which will be held every two years in Florida starting in November 2022. From September 2023, transport logistic Southeast Asia will also be held in Singapore for the first time. At all trade fairs, the air cargo sector plays an essential role. As part of transport logistic in Munich, air cargo Europe is the world’s largest air cargo trade fair, while air cargo China is the leading event in Asia. In addition, air cargo India and air cargo Africa are independent trade fairs. Also part of the transport logistic exhibitions is the cooperative transport logistic India @ CTL in Mumbai, India.

Messe München

Chu Kong Shipping Announces 2022 Annual Results

HONG KONG, Mar 27, 2023 – (ACN Newswire) – Chu Kong Shipping Enterprises (Group) Company Limited ("Chu Kong Shipping", or the "Company", together with its subsidiaries, the "Group"; Stock Code: 560.HK) is pleased to announce its annual results for the year ended 31 December 2022 (the "Year").

During the Year, benefited from the improved profitability of its terminal logistics business, including a significant increase of warehouse storage business and value-added services, the Group achieved a substantial increase in annual profit and remarkable results of business expansion. The Group's consolidated turnover increased by 27.8% year-on-year to HK$2,899.5 million (2021: HK$2,268.4 million). In line with the growth in consolidated turnover, profit for the Year increased remarkably by 63.0% year-on-year to HK$108.0 million (2021: HK$66.3 million) and the profit attributable to equity holders of the Company was HK$93.5 million (2021: HK$44.1 million), representing a significant increase of 112.1% as compared to the same period last year.

The board of directors of the Company resolve to propose a final dividend of HK4 cents per ordinary share. In commemoration of the Company's 25th listing anniversary and appreciation for the shareholders' undivided support, a special dividend of HK2 cents per ordinary share was proposed.

Business Review
In 2022, the rebound of the COVID-19 epidemic ("epidemic") situation remained continuous, resulting in greater downward pressure on the global economy. Yet, benefited from the effective implementation of the new development concept of "Domestic-international Dual Circulation" in the People's Republic of China ("PRC"), the PRC's logistics industry has recovered at a relatively fast pace and the market scale has also steadily expanded which strongly supported the smooth and orderly operation of various areas of the industrial chain and livelihood consumption businesses. Meanwhile, the cross-border passenger business has recovered steadily with the gradual relaxation of the anti-epidemic policy. Compared with the same period last year, the Group's terminal logistics business progressed well, with both increases in the break bulk cargoes transportation volume and handling volume. The waterway passenger transportation business has been transformed actively in facing difficulties by developing new routes and exploring new business opportunities.

Focusing on Upgrades of Logistics Strategy and Actively Supporting Hong Kong to Fight against the Epidemic

The Group continued to leverage on advantages of the terminals' network within the Guangdong-Hong Kong-Macao Greater Bay Area and adhered to synergistic development on both domestic and foreign trade businesses. The profitability of the terminal logistics business has continually enhanced, and the scale of integrated logistics, cross-border e-commerce, and air freight logistics businesses has continually expanded.

During the Year, regarding the cargoes transportation business, the break bulk cargoes transportation volume reached 678,000 tons, representing a year-on-year increase of 3.5%. The container transportation volume for the Year reached 1,285,000 TEU, while the volume of container hauling and trucking on land for the Year recorded 200,000 TEU. For the cargo handling and storage business, the volume of container transportation was 1,131,000 TEU, while the volume of break bulk cargoes handling volume during the year was 10,209,000 tons, representing a year-on-year increase of 30.0%.

Besides, the Group fully implemented its strategic plans, continued to optimise its business models. There was a steady improvement in operating efficiency of Zhaoqing, Foshan, Qingyuan, Zhuhai, Zhongshan and Hong Kong regions. Driven by strong growth in break bulk cargoes, Foshan and Zhongshan regions recorded explosive growth of 403.0% and 239.6% respectively. In Zhaoqing region, Zhaoqing New Port Production and Operation Centre were officially launched and Gaoyao Port actively developed new sources of goods such as precision machinery and furniture products. Foshan region Gaoming Port opened a new mode of "trans-customs" transportation business between Gaoming Port and Guangzhou Baiyun International Airport, and successfully launched the cross-border e-commerce direct purchase and export business. In Zhuhai region, the official launch of the "Doumen-Shekou" combined port project enabled Doumen Port to fully utilise its resources to attract foreign trade enterprises in the region, while the acceptance process of the imported fruits at the designated fruit supervision sites was completed. Civet Port developed the sand and gravel handling business continuously and pioneered shipping e-commerce.

Taking the new warehouse as an important strategic pivot, Chu Kong Transhipment & Logistics Co., Ltd. ("CKTL"), has leveraged its strength in resources to develop emerging businesses, deepen the cooperation between cargo terminals and navigation, and promote the transformation and upgrade. The new warehouse in Tuen Mun commenced operation smoothly, in turn, continued boosting the growth of the warehouse storage business of CKTL. CKTL successfully undertook the integrated logistics business for clients such as Sinopharm Holdings Guangzhou Co., and also completed the renovation and upgrade of the supervisory warehouse of Cathay Pacific America Line. The Group has successfully put its Yau Ma Tei construction logistics loading, unloading and distribution base in operation, and rapidly developed the local construction logistics business in Hong Kong. CKTL has successfully implemented multiple large-scale construction logistic projects, and has taken advantage of the opportunity to upgrade the "Huangpu-Hong Kong" building materials logistics line. While the regular line for the waterway e-commerce logistics between Shenzhen and Hong Kong was successfully launched, CKTL also completed the construction of the integrated operation platform for ports and barges with the Zhaoqing region.

During the Year, the Group has fully leveraged its business advantage as a combination of "transit + port" in the Guangdong-Hong Kong-Macao Greater Bay Area, and successfully opened up "Green Passages" and "Synergised Passages" for waterway transportation to secure a full logistics chain, which in turn efficiently supplied anti-epidemic medical materials, anti-epidemic quarantine facilities, as well as the daily necessities such as fresh food and grocery items. During the Year, a total of 20 Guangdong-Hong Kong transportation routes were opened-up by the Group to support Hong Kong in the fight against the epidemic, the total accumulated capacity of 68 barges and 168,000 container cargoes is recorded, with a cumulative volume of 650,000 tons of livelihood and anti-epidemic materials were supplied to Hong Kong.

Enabling Upgrading of Airport Strategy while Passenger Transportation Business Gradually Recovered

Despite the impact of the epidemic, Chu Kong Passenger Transport Company Limited ("CKPT") still recorded an increase in business compared with last year, the local ferry business recorded a total number of passengers of 11,339,000.

The Group concentrated its superior resources and actively participated in the bidding for new projects of the Hong Kong International Airport. The Group made every effort to prepare the launching of the new routes between the Shenzhen Airport and the Hong Kong International Airport, further capturing the opportunities in the cross-border passenger transportation market in the Guangdong-Hong Kong-Macao Greater Bay Area. During the Year, the Group actively promoted the upgrading of airport strategy and achieved breakthroughs in the airport business. Hong Kong International Airport terminal services Limited, a subsidiary of the Group, won the bid for the project of passenger and baggage services in the transit terminal of the Hong Kong International Airport, thereby the Group's cross-border airport passenger service will be expanded from the original "sea-air intermodal" to "sea-land-air intermodal". Hong Kong International Airport related service businesses, which were developed previously by CKPT, have maintained normal operations under the impact of the epidemic, among which, the car-sharing business on the apron of the Hong Kong International Airport has maintained a steady growth. CKPT officially signed the code-sharing development and coordination agreement with Hong Kong Express, and completed the launching of the product as well. The Group achieved the completion of code-sharing cooperation with the three major base airlines, Cathay Pacific, Hong Kong Airlines and Hong Kong Express.

Promoting the Upgrading of Hong Kong Strategy and Achieving Remarkable Results in Business Expansion

Regarding water cultural tourism business, Orient Pearl Cruise Company Limited ( "Orient Pearl" ) successfully obtained the Hong Kong Travel Agency License, and its sightseeing cruise "Orient Pearl" has obtained the qualification for berthing in Central Pier No.8 in Hong Kong. Moreover, "Orient Pearl" continued to carry out the trial berthing training at Central Pier, and has now obtained the qualification for berthing at Central Pier No. 8. At the same time, the Group completed the construction of box offices in the core areas of Hong Kong and obtained the Hong Kong Travel Agency License, which creates favourable condition for the Group to accelerate the innovation and upgrade of water-based tourism projects.

As to the fuel supply business, Sun Kong Petroleum Company Limited ("Sun Kong Petroleum") actively developed its business in the unfavourable environment of the epidemic. In addition to successfully developing the business in the storage and operation of Castrol's lubricant, Sun Kong Petroleum achieved growth in sales volume of both diesel and engine oil during the year, turning a loss into a profit against the odds, thus laying a solid foundation for the Group to continue to deepen its strategy in Hong Kong.

Prospects
In early 2023, Hong Kong, Macao, and Mainland China officially resumed normal traveller clearance, and multiple cross-border waterway passenger routes operated by the Group across Guangdong-Hong Kong, as well as across Hong Kong-Macao, have resumed operation. As the movement of cross-border personnel and material flow has gradually resumed normal, the market environment will be further improved, so a new wave of business growth is expected for the Group's business.

Focused on the objective of becoming a first-class waterway public transportation service provider and a first-class full-scope logistics services provider in the Guangdong-Hong Kong-Macao Greater Bay Area, the Group will continue to take advantage of its strength in resource integration, promote innovation and development in terminal logistics, optimise the strategic layout of passenger transportation segment, and develop new routes under new quality agency service. Moreover, the Group will actively carry out material acquisition projects with an aim to improve the overall profitability of the Group. Firmly grasping the strategic opportunities brought by the national "14th Five-Year Plan", the Guangdong-Hong Kong-Macao Greater Bay Area development, as well as the "Belt and Road" initiative, the Group will accelerate the strategic transformation of the enterprise in the following areas:

Firstly, the Group will promote the transformation of its business operation model for better structure and greater synergy. The Group will fully leverage the integrated role of CKTL as a transhipment hub, optimise the business layout, integrate inner port resources, consolidate development synergy, and continue to enhance the overall competitiveness of its terminals. The Group will also accelerate the implementation of integrated management for its cross-border waterway passenger transportation business and continue to optimise cross-border passenger transportation routes.

Secondly, the Group will promote the transformation of its warehousing and storage services business to a larger scale and higher efficiency. The Group will further build a professional platform for the construction logistics centre, expand the construction logistics services business related to the construction projects in Hong Kong, and simultaneously develop the building materials supply business. Besides, the Group will vigorously develop its modern logistics businesses, including air freight logistics, supply chain logistics, cold chain logistics, duty-free product storage, etc., to promote the development of its logistics business to be an extension of the modern industrial chain by forming a comprehensive supply chain logistics network. Moreover, the Group will accelerate the establishment of logistics business outlets in the ASEAN region, acquisition of investment projects of synergistic value, as well as establishment of overseas bases, and will actively explore the markets along the "Belt and Road".

Thirdly, the Group will promote the transformation of its Hong Kong local businesses for service enhancement and better branding. The Group will deeply integrate into the Hong Kong airport business circle, actively participate in the bidding for the strategic quality projects related to the Hong Kong International Airport, and strive to become a comprehensive service provider for the Hong Kong International Airport. The Group will also delve into the exploration of the market potential of its local public transportation business in Hong Kong and continue to expand the new local ferry services. In addition, the Group will persistently build up the brand of "Oriental Pearl" by carrying out advertising and sponsoring campaigns on vessels, increasing advertising and marketing efforts, and continuing to expand the cultural tourism market.

Fourthly, the Group will promote the transformation of its waterway passenger transportation and other auxiliary businesses for better business models and greater resilience. The Group will firmly grasp the new development opportunities in the resumption of cross-border waterway passenger transportation, and endeavour to carry out the operation resumption of important cross-border routes such as routes between Guangzhou Pazhou to Hong Kong, and Shenzhen Airport to Hong Kong. The Group will also actively participate in the bidding for the oil supply in the sea project of the Hong Kong Government, strive for new agency business in lubricant storage, and expand the fleet for lubricant shipping.

About Chu Kong Shipping Enterprises (Group) Company Limited
Chu Kong Shipping is a listed company incorporated in Hong Kong held by Chu Kong Shipping Enterprises (Holdings) Company Limited and subject to Guangdong Provincial Port & Shipping Group Company Limited. Chu Kong Shipping operates and manages the largest high-speed passenger fleet and network of waterway passenger transport in Guangdong, Hong Kong Macau which is based in Hong Kong and covered cities in the Guangdong-Hong Kong-Macao Greater Bay Area namely Guangzhou, Shenzhen, Shunde, Zhongshan, Dongguan, Macau and so on. Since the acquisition of Sun Ferry Services Company Limited in May 2020, CKSG has entered the local ferry market in Hong Kong, providing services on five main inner harbour and outlying island ferry routes, and developing the Victoria Harbour water cultural tourism projects simultaneously. Chu Kong Shipping is also one of the largest operators of inland terminal and logistics service in the PRD. Based in Hong Kong, Chu Kong Shipping builds up a network covering multiple cities in the PRD, including Zhaoqing, Qingyuan, Foshan, Guangzhou and Jiangmen etc., providing the operation of inland cargo terminals, integrated logistics, international forwarding and solutions to logistic supply chain and so on.

For more information, please visit: https://www.cksd.com/

Copyright 2023 ACN Newswire. All rights reserved. http://www.acnnewswire.com

Logory Logistics Technology (02482.HK) Announces its Global Offering

HONG KONG, Feb 27, 2023 – (ACN Newswire) – The operator of one of the largest digital freight platforms in China – Logory Logistics Technology Co., Ltd. ("Logory" or the "Company"; 02482.HK), announces details of its Global Offering and listing of H Shares on the Main Board of The Stock Exchange of Hong Kong Limited (the "Hong Kong Stock Exchange").

Highlights of the Global Offering:
— Number of Offer Shares under the Global Offering: 43,211,000 H Shares (subject to the Over-allotment Option);
— Number of Hong Kong Offer Shares: 4,322,000 H Shares (subject to adjustment);
— Number of International Offer Shares: 38,889,000 H Shares (subject to adjustment and the Over-allotment Option);
— Offer Price Range: HK$2.9 to HK$3.5 per H Share;
— The Hong Kong Public Offering is expected to close at 12:00 noon (at 11:30 a.m. for completing electronic applications under the White Form eIPO service) on Thursday, 2 March 2023;
— Dealings in the H Shares on the Main Board of the Hong Kong Stock Exchange are expected to commence on Thursday, 9 March 2023;
— Haitong International Capital Limited is the Sole Sponsor.

In 2002, the predecessor of Logory was established in Beijing. The Company has successfully built a digitalized ecosystem for road freight transportation in China. According to China Insights Industry Consultancy Limited ("CIC"), the Company operates one of the largest digital freight platforms in China in terms of Online GTV during the three years ended 31 December 2019, 2020 and 2021 and the nine months ended 30 September 2022. The Company provides digital freight services and solutions to shippers, such as logistics companies and cargo owners, as well as truckers. In recent years, the Company's business scale has recorded a general trend of growth. From 2019 to 2021, the Online GTV of shipping orders completed on the Company's digital freight platform was RMB23.4 billion, RMB27.9 billion and RMB38.0 billion respectively. The Company had served over 11,600 shippers and 2.7 million truckers who had completed an aggregate of over 36.2 million shipping orders on the Company's digital freight platform as of 30 September 2022.

In addition, the Company also operates Trucker Community, an "online + offline" community for truckers, and Truck Plus, a comprehensive portfolio of truck sales and aftermarket solutions. According to CIC, Trucker Community is the largest community for truckers in China and the largest community in the logistics industry in China, in terms of the number of registered users as of 31 December 2021. Trucker Community and Truck Plus business provide strategic value complement to the Company's digital freight business and generate strong synergies.

Logory plans to offer an aggregate of 43,211,000 H Shares (subject to the Over-allotment Option), of which 4,322,000 H Shares (subject to adjustment) will be offered in the Hong Kong Public Offering, and 38,889,000 H Shares (subject to adjustment and the Over-allotment Option) will be offered by way of International Offering. The Offer Price will not be more than HK$3.5 per H Share and is currently expected to be not less than HK$2.9 per H Share.

The Hong Kong Public Offering commenced on Monday, 27 February 2023 and is expected to close at 12:00 noon (at 11:30 a.m. for completing electronic applications under the White Form eIPO service) on Thursday, 2 March 2023. Dealings in the H Shares on the Main Board of the Hong Kong Stock Exchange are expected to commence on Thursday, 9 March 2023. The H Shares will be traded in board lots of 1,000 H Shares each.

Assuming an Offer Price of HK$3.2 per H Share (the mid-point of the indicative Offer Price range) and assuming no exercise of the Over-allotment Option, the Company estimates that it will receive net proceeds from the Global Offering of approximately HK$75.9 million after deducting underwriting commissions, fees and estimated expenses payable in connection with the Global Offering. The Company currently intends to use these net proceeds from the Global Offering to 1) further upgrade and enhance its digital freight business, with a goal to address more in-depth demands from customers under more diversified business scenarios and to relentlessly improve the user experience for digital freight business; 2) further expand Trucker Community and Truck Plus solutions; 3) enhance research and development efforts and to strengthen technological capabilities; 4) recruit additional sales, marketing and operational personnel so that its reserve of talents is commensurate with the growth of business; 5) use as working capital and other general corporate purposes.

Cornerstone investors of the Company, Hefei Gaoxin Development & Investment Group Co., Ltd. and XINGTAI HOLDING COMPANY (HONG KONG) LIMITED have agreed to subscribe for such number of Offer Shares, which may be purchased with an aggregate amount of approximately HK$68.16 million.

Haitong International Capital Limited is the Sole Sponsor. Haitong International Securities Company Limited is the Overall Coordinator, Sole Global Coordinator, Joint Bookrunner and Joint Lead Manager. CLSA Limited is the Joint Bookrunner and Joint Lead Manager. Valuable Capital Limited, SDHG International Securities Limited and Sinomax Securities Limited are the Joint Lead Managers.

About Logory

In 2002, the predecessor of Logory was established in Beijing. The Company has successfully built a digitalized ecosystem for road freight transportation in China. According to China Insights Industry Consultancy Limited, the Company operates one of the largest digital freight platforms in China in terms of Online GTV during the three years ended 31 December 2019, 2020 and 2021 and the nine months ended 30 September 2022. The Company provides digital freight services and solutions to shippers, such as logistics companies and cargo owners, as well as truckers. In recent years, the Company's business scale has recorded a general trend of growth. From 2019 to 2021, the Online GTV of shipping orders completed on the Company's digital freight platform was RMB23.4 billion, RMB27.9 billion and RMB38.0 billion respectively. The Company had served over 11,600 shippers and 2.7 million truckers who had completed an aggregate of over 36.2 million shipping orders on the Company's digital freight platform as of 30 September 2022. In addition, the Company also operate Trucker Community, an "online + offline" community for truckers, and Truck Plus, a comprehensive portfolio of truck sales and aftermarket solutions. The Company seeks to benefit and empower the participants in the ecosystem of road freight transportation industry, to enhance transparency and synergy in such collaboration through its digitalized services, and to help such participants establish more balanced and reciprocal relationships through repeated transactions, so as to contribute to the standardization and sustainable development of China's road freight transportation industry.

Copyright 2023 ACN Newswire. All rights reserved. http://www.acnnewswire.com

SF Intra-City’s H share full circulation expected to complete 78.95 million unlisted domestic shares to be listed on 7 February

HONG KONG, Feb 3, 2023 – (ACN Newswire) – Hangzhou SF Intra-City Industrial Co., Ltd. ("SF Intra-City" or the "Company", together with its subsidiaries the "Group"; stock code: 9699), the largest third-party on-demand delivery service platform in China(1), announced today that based on the current timetable, which is subject to adjustment, the conversion of 78,947,684 unlisted domestic shares of the Company into H shares is expected to be completed on 6 February 2023, and that the listing of the Converted H Shares on the Stock Exchange will commence at 9:00 a.m. on 7 February 2023.

Upon completion of the conversion and listing, the Company's total number of H shares will be increased from 231,341,342 to 310,289,026, representing an increase in the approximate percentage of issued H shares from 24.78% to 33.24% of the Company's total number of shares.

The Company expects H share full circulation to increase trading volume in the Company's shares, boost liquidity and improve the turnover rate, further improve the Company's corporate governance structure, enhance the Company's capital market performance and strengthen investors' focus on the Company's value proposition. H share full circulation is also expected to promote the Group's long-term development by reducing the mismatch between the market capitalisation of its shares and the size of its business. The Company believes that H share full circulation will enhance capital allocation demand for its shares and boost its valuation, which will benefit the Company's development and shareholders' interests in the long run.

The positive news regarding the H share full circulation follows the Group's recent announcement of a more than 50% year-on-year reduction in its loss for the financial year 2022. In 2022, the Group strived to provide high quality, efficient and stable instant fulfilment services, achieving good revenue growth and enhanced economies of scale and network effects thanks to its efforts to build a healthy and robust business structure and its in-depth cultivation of diversified service scenarios such as delivery in a broad range of sectors, including the food and beverage and retail sectors, its expansion in lower-tier cities and personalised services. Furthermore, the significant improvements in the Group's gross profit and gross profit margin for the Year are attributable to differentiated services driving high-value orders, comprehensive planning and scheduling driven by technology to achieve better delivery network efficiency and various measures to continuously refine management and enhance operation quality, which led to improvement in the efficiency of resource allocation and utilisation.

About Hangzhou SF Intra-City Industrial Co., Ltd. (stock code: 9699.HK)
SF Intra-City focuses on the emerging opportunities of intra-city on-demand delivery services. Since 2019, SF Intra-City has operated as an independent legal entity to capture the growth opportunities arising from the new consumption trends. SF Intra-City adopts a multi-scenario business model, providing full coverage of delivery scenarios for all types of products and services. The Company's extensive service coverage, ranging from mature scenarios such as food delivery to growth scenarios such as local retail, local e-commerce and local services, has enabled it to respond to the evolving customer needs resulting from the development and upgrade of the local consumer market. For more details, please visit company's website: https://ir.sf-cityrush.com/en/investor-relations/.

(1) Ranking is based on independent third-party order volume in China in 2021, according to iResearch. The calculation of order volume takes into account the number of orders sourced independently by the market players, excluding orders from related parties.

Copyright 2023 ACN Newswire. All rights reserved. http://www.acnnewswire.com

SF Intra-City reduced losses by over 50% year-over-year in 2022, Increasing benefits from scale effect

HONG KONG, Jan 30, 2023 – (ACN Newswire) – Hangzhou SF Intra-City Industrial Co., Ltd. ("SF Intra-City" or the "Company", together with its subsidiaries the "Group"; stock code: 9699), the largest third-party on-demand delivery service platform in China(1), announced today that the Group expects the consolidated net loss attributable to the owners of the Company for the year ended 31 December 2022 (the "Year") to decrease by more than 50% compared to the corresponding period of the previous year. These results reflect the increasingly apparent benefits of the Group's diversified service landscape and technology-driven efficiency improvements.

During the Year, the Group strived to provide high quality, efficient and stable instant fulfilment services, achieving good revenue growth and enhanced economies of scale and network effects thanks to its efforts to build a healthy and robust business structure and its in-depth cultivation of diversified service scenarios such as delivery in a broad range of sectors, including the food and beverage and retail sectors, its expansion in lower-tier cities and personalised services. Furthermore, the significant improvements in the Group's gross profit and gross profit margin for the Year are attributable to differentiated services driving high-value orders, comprehensive planning and scheduling driven by technology to achieve better delivery network efficiency and various measures to continuously refine management and enhance operation quality, which led to improvement in the efficiency of resource allocation and utilisation.

SF Intra-City's gross profit has turned positive since FY2021's annual results, and gross profit and net profit improved further in the first half of FY2022, achieving a gross profit of RMB180.2 million and a gross profit margin of 4.0% in the first half of FY2022. In addition, the Group previously entered into a delivery partnership with Douyin Life Service, which is now available on a trial basis in a number of cities. With the accelerated development of Douyin's live e-commerce ecosystem, this segment will contribute considerable incremental order volume to SF Intra-City in the future. As the largest third-party on-demand delivery service platform in China, the Group continues to achieve benefits from the scale effect, and both the fundamentals and the overall trend continue to improve, driving stronger earnings performance.

Mr. Sun Haijin, CEO of SF Intra-City said, "Merchants' and users' demand for on-demand delivery has clearly increased over the last year, and the value of third-party on-demand delivery services is being realized. In order to enhance the service experience for our merchants and users, we have further developed and strengthened our technology capabilities, operational infrastructure and business layout over the years, driving high levels of revenue growth and continuous improvements in profitability. Looking ahead, we will continue to broaden our range of service scenarios and industry solutions, optimize our business structure, and enhance our value by creating differentiated service capabilities, so as to ensure a high-quality and stable consumer experience and empower merchants' business operations. We firmly believe in the long-term value of local lifestyle services and on-demand services, and we will strive to achieve profitability and create long-term value for our shareholders."

About Hangzhou SF Intra-City Industrial Co., Ltd. (stock code: 9699.HK)
SF Intra-City focuses on the emerging opportunities of intra-city on-demand delivery services. Since 2019, SF Intra-City has operated as an independent legal entity to capture the growth opportunities arising from the new consumption trends. SF Intra-City adopts a multi-scenario business model, providing full coverage of delivery scenarios for all types of products and services. The Company's extensive service coverage, ranging from mature scenarios such as food delivery to growth scenarios such as local retail, local e-commerce and local services, has enabled it to respond to the evolving customer needs resulting from the development and upgrade of the local consumer market. For more details, please visit company's website: https://ir.sf-cityrush.com/en/investor-relations/.

(1) Ranking is based on independent third-party order volume in China in 2021, according to iResearch. The calculation of order volume takes into account the number of orders sourced independently by the market players, excluding orders from related parties.

Copyright 2023 ACN Newswire. All rights reserved. http://www.acnnewswire.com

Pertamina International Shipping (PIS) Secures Collaboration Agreements with Global Partners

JAKARTA, Jan 7, 2023 – (ACN Newswire) – PT Pertamina International Shipping (PIS) has secured two collaboration agreements with global partners. The signings were held with the inauguration of the PIS branch office in Dubai, UAE (PIS ME) on December 23, 2022.

PIS signs MoC with Elite Tankship, signed by the CEO of Elite Tankship, Mangish Kakodkar, and the Director of Operations of PIS, Brilian Perdana. Witnessed by CEO PIS, Yoki Firnandi, President Director Pertamina, Nicke Widyawati, President Commissioner Pertamina, Basuki Tjahaja Purnama, and H.E Ambassador of Indonesia for UAE, Husin Bagis.

PIS signed a Heads of Agreement (HoA) with BGN International DMCC (BGN), and a Memorandum of Collaboration (MoC) with Elite Tankship Pte Ltd (Elite Tankship).

The HoA with BGN was signed by the CEO of BGN Group, Ruya Bayegan, and the CEO of PIS, Yoki Firnandi. The agreement addresses a Joint Venture (JV) establishment by the two companies for the acquisition, maintenance, and operation of VLGC (Very Large Gas Carriers) vessels and/or other types of vessels.

BGN, headquartered in the UAE, is one of the world's largest LPG (Liquified Petroleum Gas) trading companies and the largest LPG importer in Indonesia. "The VLGC business will support BGN's imports of Pertamina's LPG. At some point, it might endorse the cargo market of ammonia," said Commercial Director of PIS, Arief Sukmara.

The MoC with Elite Tankship addresses Clean Petroleum Products (CPP), Dirty Petroleum Products (DPP), gas, and other commodities needed in the Middle East, and other areas covered by the parties. The MoC was signed by the Elite Tankship CEO Mangish Kakodkar, and PIS Director of Operations and Managing Director Brilian Perdana.

Elite Tankship, headquartered in Singapore, established collaboration with PIS in chartering the VLCC Pertamina Prime, the largest owned vessel and the company's pride, in May 2022 for a six-year contract period.

About PT Pertamina International Shipping (PIS) Pte Ltd

As the Integrated Marine Logistics Subholding, PT Pertamina International Shipping (PIS) supports Indonesia's economic growth through safe and sustainable operation, becomes a trusted and reliable maritime partner, and promotes value for stakeholders through running its business. https://pertamina-pis.com/.

Copyright 2023 ACN Newswire. All rights reserved. http://www.acnnewswire.com