New stock news | Yongkang Holdings' Hong Kong IPO prospectus has become invalid

Yongkang Holdings Limited (hereinafter referred to as Yongkang Holdings) submitted its Hong Kong IPO prospectus on December 30, 2024, which will expire on June 30, 2025, six months after submission. When submitting the application, Person Financial Limited acted as its exclusive sponsor. According to the prospectus, Yongkang Holdings is a container yard operator in Singapore, providing services mainly to container shipping companies and 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. As of the last practicable date (December 21, 2024), the company operates 20 container yards in 10 locations. According to an Ouryu report, the container yard industry in Singapore is relatively concentrated, with the top five operators accounting for about 65% of Singapore's total container throughput in 2023. The top five operators also strategically operate near ports. Based on 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 container yard operations. As of December 21, 2024, the company manages a total storage area of approximately 625,100 square meters, with a total storage capacity of around 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.