New stock news | Yongkang Holdings submits to the Hong Kong Stock Exchange for the second time, with both revenue and profits declining last year.

According to the disclosure of the Hong Kong Stock Exchange on December 30, Yongkang Holdings Limited (hereinafter referred to as: Yongkang Holdings) has submitted an application for listing on the main board of the Hong Kong Stock Exchange, with Ton Ren Financing Limited as its exclusive sponsor. It is reported that the company had submitted an application to the Hong Kong Stock Exchange on June 14 this year. According to the prospectus, Yongkang Holdings is a Singapore-based container yard operator, primarily providing services to container shipping companies and container leasing companies operating in the ASEAN region and China. The company is headquartered in Singapore and operates in mainland China, Hong Kong, Malaysia, Thailand, and Vietnam, with operations in 10 locations and 20 container yards as of the latest practicable date (December 21, 2024). According to the Euromonitor report, the container yard industry in Singapore is relatively concentrated, with the top five operators accounting for approximately 65% of the total throughput of container yards in Singapore in 2023. The top five operators strategically operate near ports. Based on the container throughput in 2023, Yongkang Holdings is the largest container yard operator in Singapore, with a market share of 17.9%. Most of Yongkang Holdings' revenue comes from the container yard business. As of December 21, 2024, the total storage area managed by the company is approximately 625,100 square meters, with a total storage capacity of about 91,000 TEUs. The company operates 4 container yards in Singapore, 5 in China, 5 in Malaysia, 3 in Thailand, 2 in Hong Kong, and 1 in Vietnam. Financially, for the years 2021, 2022, 2023, and 1-6 months of 2024, Yongkang Holdings' revenues were approximately SGD 176 million, SGD 161 million, SGD 156 million, and SGD 80.92 million, respectively. The corresponding net profits for the respective periods were approximately SGD 7.407 million, SGD 10.367 million, SGD 8.37 million, and SGD 5.507 million.