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Public company info - C&N Holdings Limited , 08430.HK
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C&N Holdings Limited, 08430.HK - Company Profile
Chairman K L Chua
Share Issued (share) 640,000,000
Par Currency Hong Kong Dollar
Par Value 0.01
Industry Warehousing & Logistic Services
Corporate Profile Business Summary: The Group is principally engaged in offering various transport and storage services to the logistics industry in Singapore, primarily trucking and hubbing services. Performance for the year: For the year ended 31 December 2019, the revenue of the Group decreased by approximately S$651,000 or approximately 2.2% to approximately S$28,749,000 compared to the year ended 31 December 2018. The overall gross profit decreased from approximately S$4,540,000 for the year ended 31 December 2018 to approximately S$3,248,000 for the year ended 31 December 2019. The overall gross profit margin decreased from approximately 15.4% for the year ended 31 December 2018 to approximately 11.3% for the year ended 31 December 2019. The Group recorded a loss of approximately S$980,000 for the year ended 31 December 2019, representing a decrease of approximately S$1,447,000 as compared to the profit of approximately S$467,000 for the year ended 31 December 2018. Business Review: The Group is a provider of transport and storage services to the logistics industry in Singapore. The Group offers trucking and hubbing services to the Group’s customers. Trucking services refer to the delivery of cargo, primarily containers, from the Group’s customers’ designated pick up point to their designated delivery point. Hubbing services refer to the handling and storage of laden and empty containers at the Group’s logistics yard or other locations designated by the Group’s customer(s). Led by the Group’s experienced management team, the Group has developed a reputation as a reliable transport and hubbing services provider equipped with a large vehicle fleet that is capable of handling large volumes of customer orders. Like many other export-reliant Asian economies, Singapore has been hit hard by cooling global demand and the continuously escalating US-China trade war since the beginning of 2019, which has disrupted world supply chains in a blow to business investment and corporate profits. As the Group’s customers are mainly logistics service providers along the supply chain in Singapore, the cargo that the Group transports for the Group’s customers include various types of plastic resin, scrap steel, paper products and others. These cargoes are mainly for import/ export business, hence any uncertainty in the global trade economy will directly impact the Group’s customers, and hence the Group. Prospects: The Group continues to strive to provide customers with timely delivery and storage of their containers, continue the Group’s growth strategy in the industry and enhance overall competitiveness and market share in Singapore. In 2019, the Group saw increasing challenge with the uncertainty in the global trade economy that has impacted the general economic and market conditions in Singapore and the industry in which the Group operates, which has affected the business operations to a certain extent. With Singapore’s economy growing at a decade-low of 0.7% last year, Singapore is expecting possibly even slower growth in 2020 and has downgraded its gross domestic product (GDP) forecast to -0.5% to 1.5%, amid concerns about the ongoing COVID-19 outbreak. Management is continuously monitoring the situation and in constant discussion with the Group’s customers to understand their changing business needs. The future plans of the Group are detailed in the section headed “Future Plans and Use of Proceeds” in the Prospectus. As disclosed in the Prospectus, the Company expects to: (a) maintain growth in the industry and enhance overall competitiveness and market share in Singapore; (b) increase service capacity through the acquisition of new vehicles; (c) enhance and expand the Group’s workforce to keep up with the Group’s business expansion; (d) purchase a new office to incorporate an increase in workforce; and (e) enhance the Group’s information technology system. With the uncertainty in the global trade economy, the Group will be cautious with its expansion plans.

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