CN Logistics FY2025 Revenue Rises 9.5% to HK$3.01 Billion; Net Profit Drops to HK$22.90 Million

Bulletin Express03-31 22:03

CN Logistics International Holdings Limited reported FY2025 revenue of HK$3.01 billion, up 9.5% from FY2024. Growth was driven by the CN Express e-commerce operation, whose revenue surged 84.8% to HK$582.60 million and accounted for 19.4% of the Group total.

Gross profit fell 3.1% to HK$498.18 million, compressing gross margin to 16.6% (FY2024: 18.7%). Profit from operations declined 30.7% to HK$73.87 million, and net profit attributable to equity shareholders dropped 52.0% to HK$15.36 million. Basic and diluted EPS decreased to HK5.2 cents (FY2024: HK10.9 cents).

Segment performance • Air freight forwarding: Revenue HK$1.39 billion, +18.3% y/y; 46.4% of Group total. • Ocean freight forwarding: Revenue HK$832.65 million, +6.7% y/y; 27.7% of total. • Cruise logistics: Revenue HK$468.53 million, +8.9% y/y; 15.6% of total, with gross profit up 40.9% to HK$160.52 million on increased dry-dock projects. • Distribution & logistics: Revenue HK$312.01 million, ‑12.4% y/y; 10.4% of total, yet segment gross profit improved 16.8% to HK$53.74 million.

Regional revenue mix Hong Kong 22.0% (HK$660.58 million), Mainland China 23.0%, Italy 21.9%, USA 14.9%, Taiwan 4.2%, other regions 14.0%.

Financial position • Cash and cash equivalents rose 17.5% to HK$299.62 million. • Bank loans and overdrafts increased to HK$457.24 million; net gearing stood at 35.6%. • Net current assets improved to HK$167.24 million (FY2024: HK$143.94 million). • Capital expenditure commitments were nil; no material acquisitions or disposals occurred.

Dividend The Board proposes a final dividend of HK1 cent per share, unchanged year-on-year and subject to approval at the AGM on 29 May 2026. Payment is scheduled for 17 July 2026.

Outlook Management flagged continued focus on expanding specialised verticals—particularly aerospace logistics—while deepening e-commerce capabilities through CN Express and leveraging cruise industry recovery. The Group will prioritise operational efficiency and disciplined capital management amid geopolitical and macroeconomic uncertainties.

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