Buy Or Sell Opportunity • Jun 03
Now 23% undervalued after recent price drop Over the last 90 days, the stock has fallen 37% to HK$3.91. The fair value is estimated to be HK$5.05, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has declined by 25% over the last 3 years. Earnings per share has grown by 6.1%. Valuation Update With 7 Day Price Move • Jun 02
Investor sentiment deteriorates as stock falls 18% After last week's 18% share price decline to HK$4.12, the stock trades at a trailing P/E ratio of 14.7x. Average trailing P/E is 10x in the Shipping industry in Hong Kong. Total loss to shareholders of 55% over the past year. New Risk • May 06
New major risk - Earnings quality The company has a high level of non-cash earnings. Accrual ratio: 35% This is considered a major risk. Non-cash earnings can arise from many different things. However, if a company consistently has a high level of non-cash earnings, it may be a sign that they are recognizing revenue from customers before the full value of the sales are received as cash or they are not depreciating the value of their assets appropriately. These are practices that inflate earnings, while not providing a similar increase to cash flows. Companies in some select industries naturally have a high level of non-cash earnings and it is not a major concern. However, in the worst case scenario it can be an early sign of performance manipulation by management. Currently, the following risks have been identified for the company: Major Risk High level of non-cash earnings (35% accrual ratio). Minor Risks Paying a dividend despite having no free cash flows. Profit margins are more than 30% lower than last year (7.4% net profit margin). Valuation Update With 7 Day Price Move • Apr 17
Investor sentiment improves as stock rises 19% After last week's 19% share price gain to HK$5.14, the stock trades at a trailing P/E ratio of 18.6x. Average trailing P/E is 10x in the Shipping industry in Hong Kong. Total loss to shareholders of 43% over the past year. Valuation Update With 7 Day Price Move • Mar 24
Investor sentiment deteriorates as stock falls 16% After last week's 16% share price decline to HK$4.70, the stock trades at a trailing P/E ratio of 17.1x. Average trailing P/E is 9x in the Shipping industry in Hong Kong. Total loss to shareholders of 49% over the past year. Buy Or Sell Opportunity • Mar 20
Now 20% overvalued after recent price rise Over the last 90 days, the stock has risen 12% to HK$5.64. The fair value is estimated to be HK$4.70, however this is not to be taken as a sell recommendation but rather should be used as a guide only. Revenue has declined by 25% over the last 3 years. Earnings per share has grown by 6.1%. Reported Earnings • Mar 18
Full year 2025 earnings released: EPS: CN¥0.24 (vs CN¥0.69 in FY 2024) Full year 2025 results: EPS: CN¥0.24 (down from CN¥0.69 in FY 2024). Revenue: CN¥1.87b (down 3.8% from FY 2024). Net income: CN¥138.0m (down 65% from FY 2024). Profit margin: 7.4% (down from 20% in FY 2024). The decrease in margin was primarily driven by higher expenses. Ankündigung • Mar 17
LC Logistics, Inc., Annual General Meeting, May 15, 2026 LC Logistics, Inc., Annual General Meeting, May 15, 2026. Ankündigung • Mar 05
LC Logistics, Inc. to Report Fiscal Year 2025 Results on Mar 16, 2026 LC Logistics, Inc. announced that they will report fiscal year 2025 results on Mar 16, 2026 Valuation Update With 7 Day Price Move • Mar 04
Investor sentiment deteriorates as stock falls 18% After last week's 18% share price decline to HK$5.75, the stock trades at a trailing P/E ratio of 5.9x. Average trailing P/E is 6x in the Shipping industry in Hong Kong. Total loss to shareholders of 32% over the past year. Buy Or Sell Opportunity • Feb 26
Now 29% undervalued Over the last 90 days, the stock has risen 19% to HK$6.13. The fair value is estimated to be HK$8.59, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 57% over the last year. Earnings per share has grown by 1,909%. Valuation Update With 7 Day Price Move • Feb 09
Investor sentiment improves as stock rises 19% After last week's 19% share price gain to HK$6.23, the stock trades at a trailing P/E ratio of 6.4x. Average trailing P/E is 6x in the Shipping industry in Hong Kong. Total loss to shareholders of 43% over the past year. Ankündigung • Jan 28
LC Logistics, Inc. Announces Special Dividend, Payable on April 15 , 2026 LC Logistics, Inc. announced Special Dividend of HKD 0.25 per share. Payable on April 15, 2026. Ex-dividend date 26 February 2026, Record date 04 March 2026 . Valuation Update With 7 Day Price Move • Jan 09
Investor sentiment improves as stock rises 17% After last week's 17% share price gain to HK$5.08, the stock trades at a trailing P/E ratio of 5.2x. Average trailing P/E is 5x in the Shipping industry in Hong Kong. Total loss to shareholders of 52% over the past year. Buy Or Sell Opportunity • Jan 08
Now 21% overvalued Over the last 90 days, the stock has fallen 36% to HK$4.82. The fair value is estimated to be HK$3.97, however this is not to be taken as a sell recommendation but rather should be used as a guide only. Revenue has grown by 57% over the last year. Earnings per share has grown by 1,909%. New Risk • Sep 16
New major risk - Earnings quality The company has a high level of non-cash earnings. Accrual ratio: 100% This is considered a major risk. Non-cash earnings can arise from many different things. However, if a company consistently has a high level of non-cash earnings, it may be a sign that they are recognizing revenue from customers before the full value of the sales are received as cash or they are not depreciating the value of their assets appropriately. These are practices that inflate earnings, while not providing a similar increase to cash flows. Companies in some select industries naturally have a high level of non-cash earnings and it is not a major concern. However, in the worst case scenario it can be an early sign of performance manipulation by management. Currently, the following risks have been identified for the company: Major Risk High level of non-cash earnings (100% accrual ratio). Minor Risk Paying a dividend despite having no free cash flows. Reported Earnings • Aug 26
First half 2025 earnings released: EPS: CN¥0.19 (vs CN¥0.016 in 1H 2024) First half 2025 results: EPS: CN¥0.19 (up from CN¥0.016 in 1H 2024). Revenue: CN¥905.0m (up 20% from 1H 2024). Net income: CN¥111.3m (up CN¥101.9m from 1H 2024). Profit margin: 12% (up from 1.2% in 1H 2024). Ankündigung • Aug 12
LC Logistics, Inc. to Report First Half, 2025 Results on Aug 22, 2025 LC Logistics, Inc. announced that they will report first half, 2025 results on Aug 22, 2025 Board Change • Aug 11
Less than half of directors are independent There are 6 new directors who have joined the board in the last 3 years. Of these new board members, 3 were independent directors. The company's board is composed of: 6 new directors. 1 experienced director. No highly experienced directors. 3 independent directors (4 non-independent directors). President, CEO & Chairman of the Board Xin Xu is the most experienced director on the board, commencing their role in 2022. Independent Non-Executive Director Kequan Yang was the last independent director to join the board, commencing their role in 2025. The following issues are considered to be risks according to the Simply Wall St Risk Model: Minority of independent directors. Lack of board continuity. Lack of experienced directors. New Risk • Jul 21
New minor risk - Dividend sustainability The dividend is not well covered by cash flows. The company is paying a dividend despite having no free cash flows. Dividend yield: 2.6% This is considered a minor risk. Dividends are ultimately paid out of the company's available cash reserves. Companies that pay out too much of their cash flow are at risk of having to reduce or cut their dividend in future. If cash flow growth slows or cash flows fall, then there may not be enough cash reserves to maintain the same dividend. Or in extreme cases, companies may opt to take on debt to maintain the dividend. This risk is mitigated by the fact the dividend is covered by earnings, however, cash flows are generally more important. For dividend paying companies, any reduction in the dividend can significantly impact the share price. Currently, the following risks have been identified for the company: Major Risk High level of non-cash earnings (87% accrual ratio). Minor Risk Paying a dividend despite having no free cash flows. Ankündigung • Jun 20
LC Logistics, Inc. Announces Board and Committee Changes, Effective 20 June 2025 The Board of LC Logistics, Inc. announced that Mr. Du Haibo has resigned as an independent non-executive director of the Company and ceased to be the chairman of the audit committee of the Board with effect from 20 June 2025 as he would like to focus on other career development. Mr. Du has confirmed that he has no disagreement with the Board and there are no other matters relating to his resignation that need to be brought to the attention of the shareholders of the Company or The Stock Exchange of Hong Kong Limited (the "Stock Exchange"). The Board announced that, Dr. Yang Kequan has been appointed as an independent non-executive director of the Company and the chairman of the Audit Committee with effect from 20 June 2025. The biographical details of Dr. Yang are set out below: Dr. Yang, aged 58, has over 15 years of experience in business administration and financial management. From December 2005 to December 2008 and since June 2015 to present, Dr. Yang served and has served as an associate professor at Shanghai Lixin University of Accounting and Finance (an institution formerly known as Shanghai Lixin University of Commerce. He has served as the independent director at Springsnow Food Group Co. Ltd., a chicken food products manufacturer whose shares are listed on the Shanghai Stock Exchange since May 2020; the independent director at Shanghai Hydee Software Corp. Ltd., a solutions provider for pharmaceutical distribution industry whose shares are listed on the National Equities Exchange and Quotations since June 2020; the independent director at Eurocrane (China) Co. Ltd., a manufacturer and service provider of cranes and material handling products whose shares are listed on the Shanghai Stock Exchange (stock code: 603966) since August 2018; the independent director at Dajia Property & Casualty Insurance Co. Ltd., a company principally engaged in the provision of insurance services since June 2023; the independent non-executive director of Pu'er Lancang Ancient Tea Co. Ltd., a comprehensive tea company that integrates research and development, production and sales, whose shares are listed on the Stock Exchange (stock code: 06911) since June 2024. Dr. Yang graduated from Graduate School of Chinese Academy of Social Sciences with a Doctor of Philosophy degree in management in July 2004, Capital University of Economics and Business (included the institution formerly known as Beijing Institute of Economics with a master's degree in economics in July 1994, and Hebei University of Economics and Business (formerly known as Hebei Finance College with a bachelor's degree in economics in July 1991. Dr. Yang was accredited as a Certified Public Accountant by the Treasury Certified Public Accountant Examination Board in May 1998. He also obtained a Lawyer's Qualification Certificate issued by the Lawyer Qualification Examination Committee of the Ministry of Justice of the People's Republic of China in May 1999, a AMAC Fund Practitioner Qualification (AMAC) in November 2016, a Qualification Certificate of Independent Director issued by the Shanghai Stock Exchange in September 2007, and a SAC Securities Industry Qualification (SAC) in October 2016. Dr. Yang was awarded the "Yucai Award" by the Shanghai Municipal Education Commission and Shanghai Education Development Foundation in September 2007. CHANGE OF COMPOSITION OF THE NOMINATION COMMITTEE The Board further announces the following changes in the composition of the nomination committee of the Board (the "Nomination Committee "), with effect from 20 June 2025: (i) Ms. Zhu Jiali, an executive director of the Company, has been appointed as a member of the Nomination Committee; (ii) Mr. Xu Xin, an executive director and chief executive officer of the Company, has ceased to be the chairman of the Nomination Committee; and (iii) Dr. Gu Lin, an independent non-executive director of the Company, has been appointed as the chairman of the Nomination Committee. Following the above changes, the Nomination Committee comprises two independent non-executive directors (namely Dr. Gu Lin, the chairman of the Committee, and Mr. Qi Yinliang) and one executive director (namely Ms. Zhu Jiali), and has one director of a different gender. Ankündigung • May 16
LC Logistics, Inc. Declares Final Dividend for the Year Ended 31 December 2024 LC Logistics, Inc. at its AGM held on May 16, 2025, declared a final dividend of HKD 0.44 per share for the year ended 31 December 2024. Upcoming Dividend • May 13
Upcoming dividend of HK$0.44 per share Eligible shareholders must have bought the stock before 20 May 2025. Payment date: 04 June 2025. Payout ratio is a comfortable 30% but the company is not cash flow positive. Trailing yield: 2.2%. Lower than top quartile of Hong Kong dividend payers (7.7%). Lower than average of industry peers (12%). Reported Earnings • Apr 25
Full year 2024 earnings released: EPS: CN¥1.38 (vs CN¥0.45 in FY 2023) Full year 2024 results: EPS: CN¥1.38 (up from CN¥0.45 in FY 2023). Revenue: CN¥1.95b (up 57% from FY 2023). Net income: CN¥395.8m (up 233% from FY 2023). Profit margin: 20% (up from 9.6% in FY 2023). Reported Earnings • Mar 22
Full year 2024 earnings released: EPS: CN¥1.38 (vs CN¥0.45 in FY 2023) Full year 2024 results: EPS: CN¥1.38 (up from CN¥0.45 in FY 2023). Revenue: CN¥1.95b (up 57% from FY 2023). Net income: CN¥395.8m (up 233% from FY 2023). Profit margin: 20% (up from 9.6% in FY 2023). The increase in margin was driven by higher revenue. Ankündigung • Mar 21
LC Logistics, Inc. Proposes Final Ordinary Cash Dividend for the Year Ended 31 December 2024, Payable on 04 June 2025 LC Logistics, Inc. proposed final ordinary cash dividend of HKD 0.44 per share for the year ended 31 December 2024. Date of shareholders' approval is 16 May 2025. Ex-dividend date is 20 May 2025. Record date is 26 May 2025. Payment date is 04 June 2025. Ankündigung • Mar 20
LC Logistics, Inc., Annual General Meeting, May 16, 2025 LC Logistics, Inc., Annual General Meeting, May 16, 2025. Ankündigung • Mar 10
LC Logistics, Inc. to Report Fiscal Year 2024 Results on Mar 20, 2025 LC Logistics, Inc. announced that they will report fiscal year 2024 results on Mar 20, 2025 Ankündigung • Nov 08
LC Logistics, Inc. Announces Special Dividend, Payable on or Around December 20, 2024 The Board of LC Logistics, Inc. announced that at the meeting of the Board held on 8 November 2024, the Board approved the declaration and payment of a special dividend of RMB 0.15 per ordinary share of the Company to the Shareholders, amounting to approximately RMB 43 million in aggregate. The Special Dividend will be distributed on or around, 20 December 2024 to the Shareholders whose names appear on the Company's register of members at the close of business on, 27 November 2024. Reported Earnings • Sep 25
First half 2024 earnings released: EPS: CN¥0.033 (vs CN¥0.41 in 1H 2023) First half 2024 results: EPS: CN¥0.033 (down from CN¥0.41 in 1H 2023). Revenue: CN¥754.2m (up 15% from 1H 2023). Net income: CN¥9.39m (down 91% from 1H 2023). Profit margin: 1.2% (down from 16% in 1H 2023). The decrease in margin was driven by higher expenses. Reported Earnings • Aug 24
First half 2024 earnings released: EPS: CN¥0.033 (vs CN¥0.41 in 1H 2023) First half 2024 results: EPS: CN¥0.033 (down from CN¥0.41 in 1H 2023). Revenue: CN¥754.2m (up 15% from 1H 2023). Net income: CN¥9.39m (down 91% from 1H 2023). Profit margin: 1.2% (down from 16% in 1H 2023). The decrease in margin was driven by higher expenses. New Risk • Aug 21
New minor risk - Profit margin trend The company's profit margins are lower than last year and have reduced by more than 30%. Net profit margin: 1.8% Last year net profit margin: 8.1% This is considered a minor risk. A large drop in profit margin could indicate the company does not have strong competitive advantages or it is yet to establish itself and its core business. Even if it is a well established business, this may make it a much riskier investment than one that has a combination of proven competitive advantages and a stable or growing profit margin. Currently, the following risks have been identified for the company: Major Risk Earnings have declined by 16% per year over the past 5 years. Minor Risk Profit margins are more than 30% lower than last year (1.8% net profit margin). Ankündigung • Aug 06
LC Logistics, Inc. to Report First Half, 2025 Results on Aug 20, 2024 LC Logistics, Inc. announced that they will report first half, 2025 results on Aug 20, 2024 Valuation Update With 7 Day Price Move • Jul 08
Investor sentiment improves as stock rises 17% After last week's 17% share price gain to HK$33.20, the stock trades at a trailing P/E ratio of 74.4x. Average trailing P/E is 14x in the Shipping industry in Hong Kong. Valuation Update With 7 Day Price Move • Jun 21
Investor sentiment improves as stock rises 21% After last week's 21% share price gain to HK$28.00, the stock trades at a trailing P/E ratio of 62.7x. Average trailing P/E is 15x in the Shipping industry in Hong Kong. Valuation Update With 7 Day Price Move • May 31
Investor sentiment improves as stock rises 21% After last week's 21% share price gain to HK$22.70, the stock trades at a trailing P/E ratio of 50.6x. Average trailing P/E is 14x in the Shipping industry in Hong Kong. Reported Earnings • Apr 26
Full year 2023 earnings released: EPS: CN¥0.45 (vs CN¥1.49 in FY 2022) Full year 2023 results: EPS: CN¥0.45 (down from CN¥1.49 in FY 2022). Revenue: CN¥1.24b (down 73% from FY 2022). Net income: CN¥118.9m (down 69% from FY 2022). Profit margin: 9.6% (up from 8.3% in FY 2022). The increase in margin was driven by lower expenses. Valuation Update With 7 Day Price Move • Apr 15
Investor sentiment improves as stock rises 20% After last week's 20% share price gain to HK$6.07, the stock trades at a trailing P/E ratio of 13.5x. Average trailing P/E is 11x in the Shipping industry in Hong Kong. Reported Earnings • Mar 30
Full year 2023 earnings released: EPS: CN¥0.45 (vs CN¥8.94 in FY 2022) Full year 2023 results: EPS: CN¥0.45 (down from CN¥8.94 in FY 2022). Revenue: CN¥1.24b (down 73% from FY 2022). Net income: CN¥118.9m (down 69% from FY 2022). Profit margin: 9.6% (up from 8.3% in FY 2022). The increase in margin was driven by lower expenses. Ankündigung • Mar 28
LC Logistics, Inc., Annual General Meeting, May 20, 2024 LC Logistics, Inc., Annual General Meeting, May 20, 2024. Ankündigung • Mar 15
LC Logistics, Inc. to Report Fiscal Year 2023 Results on Mar 26, 2024 LC Logistics, Inc. announced that they will report fiscal year 2023 results on Mar 26, 2024 Valuation Update With 7 Day Price Move • Nov 20
Investor sentiment improves as stock rises 22% After last week's 22% share price gain to HK$6.27, the stock trades at a trailing P/E ratio of 8x. Average trailing P/E is 7x in the Logistics industry in Hong Kong. Reported Earnings • Oct 01
First half 2023 earnings released First half 2023 results: EPS: CN¥0.41. Net income: CN¥104.1m (up CN¥104.1m from 1H 2022). Ankündigung • Sep 26
LC Logistics, Inc. to Report First Half, 2023 Results on Sep 27, 2023 LC Logistics, Inc. announced that they will report first half, 2023 results on Sep 27, 2023 Board Change • Sep 25
Less than half of directors are independent There are 7 new directors who have joined the board in the last 3 years. Of these new board members, 3 were independent directors. The company's board is composed of: 7 new directors. No experienced directors. No highly experienced directors. 3 independent directors (4 non-independent directors). President, CEO & Chairman of the Board Xin Xu is the most experienced director on the board, commencing their role in 2022. Independent Non-Executive Director Lin Gu was the last independent director to join the board, commencing their role in 2023. The following issues are considered to be risks according to the Simply Wall St Risk Model: Minority of independent directors. Lack of board continuity. Lack of experienced directors. Ankündigung • Sep 23
LC Logistics, Inc. has completed an IPO in the amount of HKD 145.6407 million. LC Logistics, Inc. has completed an IPO in the amount of HKD 145.6407 million.
Security Name: Ordinary Shares
Security Type: Common Stock
Securities Offered: 2,839,000
Price\Range: HKD 5.13
Discount Per Security: HKD 0.1665
Security Name: Ordinary Shares
Security Type: Common Stock
Securities Offered: 25,551,000
Price\Range: HKD 5.13
Discount Per Security: HKD 0.1665
Transaction Features: Regulation S 
