Reported Earnings • May 20
First quarter 2026 earnings released: EPS: ฿0.002 (vs ฿0.025 in 1Q 2025) First quarter 2026 results: EPS: ฿0.002 (down from ฿0.025 in 1Q 2025). Revenue: ฿600.6m (down 27% from 1Q 2025). Net income: ฿2.23m (down 92% from 1Q 2025). Profit margin: 0.4% (down from 3.2% in 1Q 2025). The decrease in margin was driven by lower revenue. Upcoming Dividend • Apr 28
Upcoming dividend of ฿0.029 per share Eligible shareholders must have bought the stock before 05 May 2026. Payment date: 22 May 2026. Payout ratio is on the higher end at 94%, however this is supported by cash flows. Trailing yield: 6.6%. Lower than top quartile of Thai dividend payers (7.5%). Higher than average of industry peers (5.8%). Reported Earnings • Feb 24
Full year 2025 earnings released: EPS: ฿0.061 (vs ฿0.084 in FY 2024) Full year 2025 results: EPS: ฿0.061 (down from ฿0.084 in FY 2024). Revenue: ฿2.84b (down 23% from FY 2024). Net income: ฿63.6m (down 27% from FY 2024). Profit margin: 2.2% (down from 2.4% in FY 2024). The decrease in margin was driven by lower revenue. Declared Dividend • Feb 23
Dividend of ฿0.029 announced Shareholders will receive a dividend of ฿0.029. Ex-date: 5th May 2026 Payment date: 22nd May 2026 Dividend yield will be 6.1%, which is lower than the industry average of 7.4%. Sustainability & Growth Dividend is not covered by earnings (103% earnings payout ratio). However, it is well covered by cash flows (23% cash payout ratio). The dividend has increased by an average of 131% per year over the past 2 years and payments have been stable during that time. The company's earnings per share (EPS) would need to grow by 14% to bring the payout ratio under control. However, EPS has declined by 41% over the last 5 years so the company would need to reverse this trend. 공시 • Feb 20
Sino Logistics Corporation Public Company Limited, Annual General Meeting, Apr 24, 2026 Sino Logistics Corporation Public Company Limited, Annual General Meeting, Apr 24, 2026, at 14:00 SE Asia Standard Time. Location: pimarn ballroom, grande centre point lumphini, bangkok hotel, 1188 rama 4 road, sathon,thungmahamek, bangkok 10120 Thailand Reported Earnings • Nov 16
Third quarter 2025 earnings released: EPS: ฿0.02 (vs ฿0.036 in 3Q 2024) Third quarter 2025 results: EPS: ฿0.02 (down from ฿0.036 in 3Q 2024). Revenue: ฿743.6m (down 46% from 3Q 2024). Net income: ฿21.2m (down 43% from 3Q 2024). Profit margin: 2.9% (up from 2.7% in 3Q 2024). The increase in margin was driven by lower expenses. Declared Dividend • Aug 16
First half dividend of ฿0.029 announced Shareholders will receive a dividend of ฿0.029. Ex-date: 28th August 2025 Payment date: 10th September 2025 Dividend yield will be 9.5%, which is higher than the industry average of 7.4%. Sustainability & Growth Dividend is covered by both earnings (58% earnings payout ratio) and cash flows (40% cash payout ratio). The company is yet to establish a track record of dividend growth or stability as it hasn't paid a regular dividend for at least 2 years. The company's earnings per share (EPS) would need to decline by 36% to shift the payout ratio to a potentially unsustainable range, which is less than the 39% EPS decline seen over the last 5 years. New Risk • Jul 11
New minor risk - Share price stability The company's share price has been volatile over the past 3 months. It is more volatile than 75% of Thai stocks, typically moving 7.4% a week. This is considered a minor risk. Share price volatility indicates the stock is highly sensitive to market conditions or economic conditions rather than being sensitive to its own business performance, which may also be inconsistent. It also increases the risk of potential losses in the short term as the stock tends to have larger drops in price more frequently than other stocks. Currently, the following risks have been identified for the company: Major Risk Earnings have declined by 40% per year over the past 5 years. Minor Risks Share price has been volatile over the past 3 months (7.4% average weekly change). Market cap is less than US$100m (฿1.01b market cap, or US$31.0m). Valuation Update With 7 Day Price Move • May 19
Investor sentiment improves as stock rises 17% After last week's 17% share price gain to ฿1.02, the stock trades at a trailing P/E ratio of 9.8x. Average trailing P/E is 9x in the Logistics industry in Thailand. Total loss to shareholders of 17% over the past year. Reported Earnings • May 11
First quarter 2025 earnings released: EPS: ฿0.025 (vs ฿0.005 in 1Q 2024) First quarter 2025 results: EPS: ฿0.025 (up from ฿0.005 in 1Q 2024). Revenue: ฿819.1m (up 5.3% from 1Q 2024). Net income: ฿26.5m (up 397% from 1Q 2024). Profit margin: 3.2% (up from 0.7% in 1Q 2024). The increase in margin was driven by higher revenue. Upcoming Dividend • Apr 25
Upcoming dividend of ฿0.063 per share Eligible shareholders must have bought the stock before 02 May 2025. Payment date: 23 May 2025. Payout ratio is on the higher end at 91%, and the cash payout ratio is above 100%. Trailing yield: 8.5%. Within top quartile of Thai dividend payers (7.9%). Higher than average of industry peers (5.3%). New Risk • Mar 12
New major risk - Revenue and earnings growth Earnings have declined by 14% per year over the past 5 years. This is considered a major risk. Ultimately, shareholders want to see a good return on their investment and that generally comes from sharing in the company's profits. If profits are declining over an extended period, then in most cases the share price will decline over time unless the company can turn around its fortunes. A trend of falling earnings can be very difficult to turn around. If the company is well already established it may also be a sign the company has matured and is in decline. In addition, if the company pays dividends it will also likely need to reduce or cut them, striking a dual blow to total shareholder returns. Currently, the following risks have been identified for the company: Major Risks Dividend is not well covered by earnings and cash flows. Payout ratio: 91% Cash payout ratio: 176% Earnings have declined by 14% per year over the past 5 years. Minor Risk Market cap is less than US$100m (฿998.4m market cap, or US$29.5m). Declared Dividend • Feb 27
Final dividend of ฿0.063 announced Shareholders will receive a dividend of ฿0.063. Ex-date: 2nd May 2025 Payment date: 23rd May 2025 Dividend yield will be 8.2%, which is higher than the industry average of 7.4%. Sustainability & Growth Dividend is covered by both earnings (55% earnings payout ratio) and cash flows (66% cash payout ratio). The company is yet to establish a track record of dividend growth or stability as it hasn't paid a regular dividend for at least 2 years. EPS is expected to grow by 24% over the next 2 years, which should provide support to the dividend and adequate earnings cover. Reported Earnings • Feb 26
Full year 2024 earnings: EPS and revenues exceed analyst expectations Full year 2024 results: EPS: ฿0.08 (up from ฿0.061 in FY 2023). Revenue: ฿3.70b (up 104% from FY 2023). Net income: ฿87.6m (up 66% from FY 2023). Profit margin: 2.4% (down from 2.9% in FY 2023). The decrease in margin was driven by higher expenses. Revenue exceeded analyst estimates by 23%. Earnings per share (EPS) also surpassed analyst estimates by 14%. Revenue is expected to decline by 5.8% p.a. on average during the next 2 years, while revenues in the Logistics industry in Thailand are expected to grow by 6.2%. Reported Earnings • Nov 19
Third quarter 2024 earnings released: EPS: ฿0.04 (vs ฿0.009 in 3Q 2023) Third quarter 2024 results: EPS: ฿0.04 (up from ฿0.009 in 3Q 2023). Revenue: ฿1.38b (up 186% from 3Q 2023). Net income: ฿37.4m (up 419% from 3Q 2023). Profit margin: 2.7% (up from 1.5% in 3Q 2023). The increase in margin was driven by higher revenue. Revenue is forecast to stay flat during the next 3 years compared to a 5.7% growth forecast for the Logistics industry in Thailand. Upcoming Dividend • Aug 15
Upcoming dividend of ฿0.014 per share Eligible shareholders must have bought the stock before 22 August 2024. Payment date: 06 September 2024. The company is paying out more than 100% of its profits and is cash flow negative. Trailing yield: 2.5%. Lower than top quartile of Thai dividend payers (7.0%). In line with average of industry peers (2.6%). Reported Earnings • Aug 10
Second quarter 2024 earnings released: EPS: ฿0.01 (vs ฿0.027 in 2Q 2023) Second quarter 2024 results: EPS: ฿0.01 (down from ฿0.027 in 2Q 2023). Revenue: ฿735.6m (up 83% from 2Q 2023). Net income: ฿12.7m (down 42% from 2Q 2023). Profit margin: 1.7% (down from 5.4% in 2Q 2023). The decrease in margin was driven by higher expenses. Revenue is forecast to grow 7.7% p.a. on average during the next 3 years, compared to a 6.9% growth forecast for the Logistics industry in Thailand. 공시 • Aug 10
Sino Logistics Corporation Public Company Limited Announces Cash Dividend Payment for the Period from October 1 January, 2024 to June 30, 2024, Payable on September 06, 2024 Sino Logistics Corporation Public Company Limited announced the cash dividend payment of THB 0.014423 for the period from October 1 - January, 2024 to June 30, 2024. Record date for the right to receive dividends: 23, August 2024, Ex-dividend date is August 22, 2024 and Payment date is September 06, 2024. Valuation Update With 7 Day Price Move • Jul 22
Investor sentiment deteriorates as stock falls 15% After last week's 15% share price decline to ฿1.29, the stock trades at a forward P/E ratio of 12x. Average forward P/E is 11x in the Logistics industry in Thailand. New Risk • Jun 01
New major risk - Share price stability The company's share price has been highly volatile over the past 3 months. It is more volatile than 90% of Thai stocks, typically moving 8.9% a week. This is considered a major risk. Share price volatility increases the risk of potential losses in the short-term as the stock tends to have larger drops in price more frequently than other stocks. It may also indicate the stock is highly sensitive to market conditions or economic conditions rather than being sensitive to its own business performance, which may also be inconsistent. Currently, the following risks have been identified for the company: Major Risk Share price has been highly volatile over the past 3 months (8.9% average weekly change). Minor Risks Profit margins are more than 30% lower than last year (2.9% net profit margin). Market cap is less than US$100m (฿1.60b market cap, or US$43.5m). Valuation Update With 7 Day Price Move • May 28
Investor sentiment improves as stock rises 16% After last week's 16% share price gain to ฿1.49, the stock trades at a forward P/E ratio of 15x. Average forward P/E is 13x in the Logistics industry in Thailand. Major Estimate Revision • May 21
Consensus revenue estimates increase by 24%, EPS downgraded The consensus outlook for fiscal year 2024 has been updated. 2024 revenue forecast increased from ฿2.18b to ฿2.70b. EPS estimate fell from ฿0.12 to ฿0.10. Net income forecast to grow 90% next year vs 45% growth forecast for Logistics industry in Thailand. Consensus price target down from ฿2.00 to ฿1.70. Share price was steady at ฿1.33 over the past week. Reported Earnings • May 11
First quarter 2024 earnings released: EPS: ฿0.005 (vs ฿0.03 in 1Q 2023) First quarter 2024 results: EPS: ฿0.005 (down from ฿0.03 in 1Q 2023). Revenue: ฿777.9m (up 78% from 1Q 2023). Net income: ฿5.34m (down 78% from 1Q 2023). Profit margin: 0.7% (down from 5.5% in 1Q 2023). The decrease in margin was driven by higher expenses. Revenue is forecast to grow 8.6% p.a. on average during the next 3 years, compared to a 8.0% growth forecast for the Logistics industry in Thailand. 공시 • Apr 26
Sino Logistics Corporation Public Company Limited Approves Dividend for the Fourth Quarter from October 1 to December 31, 2023, Payable on May 20, 2024 Sino Logistics Corporation Public Company Limited at its AGM held on April 24, 2024, approved the dividend payment from the fourth quarter from October 1 - December 31, 2023's operating performance at THB 0.014423 in the amount of not exceeding to THB 15,000,000. The Record Date for specifying the list of shareholders who have the right to receive this dividend was on May 3, 2024, and the dividend will be paid on May 20, 2024. Reported Earnings • Feb 28
Full year 2023 earnings released: EPS: ฿0.06 (vs ฿1.34 in FY 2022) Full year 2023 results: EPS: ฿0.06 (down from ฿1.34 in FY 2022). Revenue: ฿1.81b (down 70% from FY 2022). Net income: ฿52.7m (down 92% from FY 2022). Profit margin: 2.9% (down from 12% in FY 2022). The decrease in margin was driven by lower revenue. Revenue is forecast to grow 24% p.a. on average during the next 2 years, compared to a 11% growth forecast for the Logistics industry in Thailand. 공시 • Feb 25
Sino Logistics Corporation Public Company Limited, Annual General Meeting, Apr 24, 2024 Sino Logistics Corporation Public Company Limited, Annual General Meeting, Apr 24, 2024, at 14:00 SE Asia Standard Time. Agenda: To acknowledge the Company's performance for the year 2023; to consider and approve the Financial Statements of the Company and its subsidiaries for the year ended 31 December 2023; to consider and approve the appropriation of the net profit as legal reserve and dividend payment for the year 2023; to consider and approve the election of the Company's directors to replace those retiring by rotation; to consider and approve the Director's Remuneration for the year 2024 and director's bonus; to consider and approve the appointment of the auditor and fix audit fee for the year 2024; to consider and approve the addition to the Company's objectives and the amendment of Clause 3 of the Company's Memorandum of Association; and to consider other issues. Reported Earnings • Nov 13
Third quarter 2023 earnings released: EPS: ฿0.01 (vs ฿0.10 in 3Q 2022) Third quarter 2023 results: EPS: ฿0.01 (down from ฿0.10 in 3Q 2022). Revenue: ฿481.0m (down 57% from 3Q 2022). Net income: ฿7.19m (down 91% from 3Q 2022). Profit margin: 1.5% (down from 7.4% in 3Q 2022). The decrease in margin was driven by lower revenue. Valuation Update With 7 Day Price Move • Nov 08
Investor sentiment improves as stock rises 24% After last week's 24% share price gain to ฿1.30, the stock trades at a trailing P/E ratio of 6.4x. Average trailing P/E is 11x in the Logistics industry in Thailand. Valuation Update With 7 Day Price Move • Oct 20
Investor sentiment deteriorates as stock falls 21% After last week's 21% share price decline to ฿1.13, the stock trades at a trailing P/E ratio of 5.6x. Average trailing P/E is 11x in the Logistics industry in Thailand. Reported Earnings • Sep 22
Second quarter 2023 earnings released: EPS: ฿0.027 (vs ฿1.17 in 2Q 2022) Second quarter 2023 results: EPS: ฿0.027 (down from ฿1.17 in 2Q 2022). Revenue: ฿403.1m (down 76% from 2Q 2022). Net income: ฿21.9m (down 92% from 2Q 2022). Profit margin: 5.4% (down from 16% in 2Q 2022). The decrease in margin was driven by lower revenue. Board Change • Sep 22
No independent directors No new directors have joined the board in the last 3 years. The company's board is composed of: No new directors. 5 experienced directors. No highly experienced directors. No independent directors (5 non-independent directors). was the last director to join the board, commencing their role in . The following issues are considered to be risks according to the Simply Wall St Risk Model: Lack of independent directors. Insufficient board refreshment.