New Stock News | Wing Hang Holdings submits documents for the third time to the Hong Kong Stock Exchange as the second largest container yard operator in Southeast Asia.

According to the disclosure on April 1 by the Hong Kong Stock Exchange, Yongkang Holdings Limited (hereinafter referred to as "Yongkang Holdings") submitted its listing application for the third time to the main board of the Hong Kong Stock Exchange, with Samman Finance and Huafu Jianye Enterprise Financing serving as its joint sponsors. Company Profile The prospectus shows that Yongkang Holdings mainly provides services to container shipping companies and container leasing companies operating in the ASEAN region and China. Based on the container throughput in 2025, the company is the leading container terminal operator in Singapore and the second largest in Southeast Asia (according to a Frost & Sullivan report, the company has the highest market share of 16.2% in Singapore and a market share of 5.9% in Southeast Asia). Currently, the company operates 18 container terminals in 10 locations (with a total area of approximately 590,000 square meters and a total storage capacity of approximately 83,000 TEUs), providing a range of container and logistics related services (including storage and handling, maintenance and repair, new container inspection, and container transportation). The Company operates under the brand name "Yongkang" in Singapore, Thailand, Malaysia, and Vietnam, and under the brand names "PCL" and "Mingfeng" in Hong Kong, and operates in mainland China under the brand names "Keyun" (a licensed brand from a third party) and "Yifa" (a brand derived from the name of one of its Chinese subsidiary companies). The Company's business model mainly involves providing storage and handling of empty containers, maintenance and repair, and transportation, primarily through the following three main business segments, which are separate but complementary businesses: Container Terminal Operation: Core business includes providing container terminal services, including storage and handling, maintenance and repair, and transportation of (a) empty containers throughout the ASEAN region and China; and (b) ISO tank containers in Singapore. Warehousing and Container Freight Stations: As part of a comprehensive logistics solution, the Group provides warehousing and container freight station services to shippers and other customers, including the consolidation and segregation of outbound and inbound general cargo and cargo storage. Container Sales and New Container Inspection: In addition to the core container terminal operation, the company also provides container-related services, including trade of containers (new and second-hand) and container parts, as well as acceptance and inspection of new containers to help customers ensure that the containers they purchase meet the standards and conditions specified in their purchase agreements. The container terminal operation is the Company's core business, accounting for the vast majority of total revenue. For the years ending December 31, 2023... Financial Information Revenue For the years 2023, 2024, and 2025, the company's revenue was approximately 156 million Singapore dollars (SGD), 165 million SGD, and 149 million SGD, respectively. Profit For the years 2023, 2024, and 2025, the company's net profits were approximately 8.37 million SGD, 11.618 million SGD, and 13.266 million SGD, respectively. Gross Profit Margin For the years 2023, 2024, and 2025, the company's gross profit margins were 30.2%, 26.2%, and 29.5%, respectively. Industry Overview The container port throughput in Southeast Asia increased from 111 million TEUs in 2020 to 139 million TEUs in 2025, with a compound annual growth rate of 4.6%. In this region, Singapore is expected to account for 44.66 million TEUs of the total throughput by 2025. Looking ahead, the container throughput in the Southeast Asia region is expected to reach 186 million TEUs by 2030, with a compound annual growth rate of 5.9% from 2026 to 2030. Singapore is expected to contribute 56.46 million TEUs. The container port throughput in China increased from 264 million TEUs in 2020 to 354 million TEUs in 2025, with a compound annual growth rate of 6.0%. With extensive deployment of fully automated terminals in support, Shanghai Port maintains its position as the busiest port in the world. By 2030, the container throughput in China is projected to increase to 455 million TEUs, with a compound annual growth rate of 5.2% from 2026 to 2030. Total Container Throughput in Southeast Asia and Singapore The container terminal throughput in Southeast Asia increased from 13.32 million TEUs in 2020 to 17.7 million TEUs in 2025, with a compound annual growth rate of 5.9%. By 2025, the container terminal throughput in Singapore is expected to reach 3.7 million TEUs, with a compound annual growth rate of 0.5% during the same period. It is projected that by 2030, the throughput in the Southeast Asian region will reach 23.9 million TEUs, with a compound annual growth rate of 6.5% from 2026 to 2030. Total Container Throughput in China The Chinese container terminal market has shown strong growth, with throughput increasing from 110 million TEUs in 2020 to 135 million TEUs in 2025, at a compound annual growth rate of 4.3%. It is expected that the throughput in China will increase from 140 million TEUs in 2026 to 158 million TEUs in 2030, with a compound annual growth rate of 3.0% from 2026 to 2030. The container terminal market in Southeast Asia is highly competitive and fragmented, with the top five players in 2025 accounting for a total market share of 28.1%. In 2025, the industry is made up of many local and regional operators who are increasingly integrating their service offerings (such as maintenance, repair, and bonded warehousing) to provide end-to-end logistics solutions. As trade flows continue to shift towards Southeast Asia, the competitive environment will be dominated by operators who can secure land near major infrastructure hubs to manage the increasing volume of empty container dispatches. In 2025, the Group ranked second among container terminal operators in Southeast Asia, with a market share of 5.9%. The container terminal market in Singapore is fairly concentrated, with the top five players in 2025 accounting for approximately 59.5% of the total terminal throughput. The Group is a market leader among container terminal operators in Singapore, with a market share of 16.2% in 2025. Board of Directors Information The company's board of directors consists of 7 directors and 1 alternate director, including 2 executive directors, 1 alternate director, 2 non-executive directors, and 3 independent non-executive directors. Directors are elected for a term of 3 years, with the option for re-election or reappointment. Equity Structure NEKCG is an investment holding company, with the following ownership breakdown: NEKCH approximately 79.4%; NEKGH approximately 5.6%; Mr. Li approximately 7.3%; Mr. Wu approximately 6.4%; and Mr. Leung approximately 1.3%. They collectively form a group of controlling shareholders, with NEKCG being the...