CN Logistics International Holdings Limited (2130.HK) issued positive profit alert today, the Group expects to record a year-on-year increase in revenue and net profit attributable to equity shareholders of not less than 40% and 45%, respectively, for the 6 months ending 30 June 2022, which was mainly attributable to the following reasons:

• the continuous growth in revenue and profit generated by the Italy office resulting from the expansion of customer base and its ability in shifting part of the increase in the cost of operation to its customers;
• the elimination of certain non-controlling interests after the completion of the acquisition of the minority shareholding interests in CN Logistics S.R.L. in November 2021;
• revenue and net profit contributed by Allport Cruise Logistics Inc and its subsidiaries which were acquired by the Group in March 2022;
• the persistently high freight rates charged to customer due to limited supply of cargo space and containers under COVID-19 pandemic; and
• expanded the Group’s local presence by setting up offices in Southeast Asia and the United States of America, which principally provide freight forwarding services to high end fashion customers and cruise operators, respectively

Furthermore, despite of the lockdown in Shanghai for more than two months and the continuation of travel restrictions in Hong Kong, the Group was able to relocate the shipments to other cities of PRC, and fulfilled the customer orders from Shanghai, which minimized the adverse impact under the period of lockdown.

About CN Logistics International Holdings Limited

Established in 1991, CN Logistics is a well-established international logistics solutions provider with a core business of providing air freight forwarding services and distribution and logistics services in relation to fashion products and fine wine, primarily focusing on high-end fashion (including luxury and affordable luxury) products. According to the CIC Report, in 2019, the Company ranked first in the distribution and logistics market for high-end fashion products in both the PRC and Hong Kong.

This release is issued by DLK Advisory Limited on behalf of CN Logistics International Holdings Limited.

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