CN Logistics International Holdings Limited

(the “Company”)

 (Incorporated in the Cayman Islands with limited liability) 

(Stock code：2130.HK)

Announces 2026 Interim Results

Net Profit of the Company Increased by 78.5% to HK$34.1 million

CN Express Turned Profitable, Driving Overall Earnings Improvement

Financial Highlights

(31 August 2026 – Hong Kong) CN Logistics International Holdings Limited (“CN Logistics”, or “the Company” and together with its subsidiaries, the “Group;” stock code: 2130) is pleased to announce its unaudited consolidated interim results for the six months ended 30 June 2026 (the “Period”).  

During the Period, the global logistics industry continued to operate against a backdrop of geopolitical uncertainties, changing trade policies and uneven consumer demand across major economies. Global air cargo volumes are expected to remain broadly flat, reflecting a market characterised by shifting trade lanes and increasing cost pressures. However, the sustained expansion of global eCommerce continues to generate favourable growth opportunities, with increasing demand for efficient warehousing, international transportation and last-mile delivery services. Capitalising on these opportunities, we leveraged our strong market reputation to secure business from the top three eCommerce platforms in Mainland China.

Against this backdrop, the Group remained focused on enhancing operational efficiency, optimising its business mix and strengthening profitability amid an evolving global trade environment. During the Period, the Group achieved a marked improvement in both revenue and profitability. Revenue rose year-on-year by 11.8% to HK$1,633.7 million (1H2025: HK$1,461.5 million). Net profit of the Company increased by 78.5% to HK$34.1 million (1H2025: HK$19.1 million).

The Board recommended the payment of an interim dividend of HK1.0 cent per share (1H2025: HK1.0 cent).
 

Regional Analysis — Greater China

In Greater China, revenue contributed by the Group’s PRC and Hong Kong operations increased by 17.6% to HK$727.2 million (1H2025: HK$618.5 million), attributable by the strong volume growth in the eCommerce business from China and Hong Kong to Africa and European countries. In Hong Kong, the Group continued to strengthen the efficiency of its business-to consumer (“B2C”) warehousing and distribution operations, while in the PRC, profitability benefited from ongoing workforce optimisation and prudent expense management.

Regional Analysis — Southeast Asia

In Southeast Asia, the Group continued to pursue opportunities arising from supply chain diversification and the relocation of export-oriented manufacturing activities. The Group continued to strengthen its presence in Southeast Asia by supporting manufacturing customers serving the U.S. market. As a result, revenue contributed by the Group’s Vietnam and Cambodia offices increased by 53.5% and 190.6% to HK$80.4 million and HK$34.0 million, respectively.

Against a backdrop of evolving geopolitical and trade dynamics in the region, Japan and South Korea operations also recorded improved performance during the Period. The Group believes its diversified presence across Asia will continue to enhance its ability to capture opportunities arising from evolving global supply chain dynamics.

Regional Analysis — Europe

Europe continued to serve as a vital gateway connecting premium Asian products with high-purchasing-power consumers. Amid continued macroeconomic uncertainties and evolving global trade dynamics, the Group implemented appropriate operational adjustments in response to changing market conditions. Revenue from the Group’s Italian operations amounted to HK$360.1 million (1H2025: HK$349.7 million). Leveraging its established presence across major European markets, the Group continued to provide comprehensive logistics solutions to long-standing customers

CN Express — Improved Profitability through Business Optimisation

CN Express remained one of the Groups key strategic business initiatives, continuing to strengthen its position in the rapidly evolving cross-border eCommerce logistics market. During the Reporting Period, CN Express optimised its business portfolio by focusing on higher-value cross-border eCommerce logistics services. Leveraging its integrated logistics network, dedicated parcel management system and extensive experience in cross-border fulfilment, it continued to provide one-stop logistics solutions to leading global eCommerce platforms.

As a result, CN Express achieved a turnaround in profitability and became an important contributor to the Group’s overall earnings improvement. Revenue amounted to approximately HK$289.1 million (1H2025: HK$246.1 million), representing approximately 17.7% of the Group’s total revenue. The profitability and increase in revenue from CN Express were mainly due to the strong volume growth in the eCommerce business from China and Hong Kong to Africa and European countries and new business opportunities with sizeable eCommerce platform providers. 

Cruise Logistics — Stable Amid Sector Recovery

Supported by the gradual recovery of global tourism and cruise activities, demand for cruise logistics services remained broadly stable. The Group maintained long-term relationships with its customers and continued to provide high-quality replenishment and logistics services. Revenue from the cruise logistics segment amounted to approximately HK$213.0 million (1H2025: HK$254.9 million), contributing around 13.0% to Group revenue. Gross profit increased by 3.4% to approximately HK$83.2 million (1H2025: HK$80.5 million), reflecting the segment’s characteristic stability.

Outlook

Despite continued geopolitical uncertainties, shifting tariff regulations, and ongoing volatility in global trade flows, the Group remains cautiously optimistic about the long-term prospects of the logistics sector. While the operating environment remains challenging, the growth of cross-border eCommerce and increasing demand for integrated, value-added logistics solutions, are expected to support the industry’s long-term development. The Group will continue to focus on strengthening its core competencies and enhancing operational efficiency, while maintaining prudent financial and risk management.

The Group will be well positioned to capitalise on opportunities as market conditions gradually recover through the following strategic initiatives:

• Strengthening CN Express through ongoing optimisation of its business portfolio, while deepening cooperation with leading global eCommerce platforms to benefit from the continued expansion of global cross-border eCommerce
• Leveraging the Group’s established presence in Southeast Asia to strengthen its regional service capabilities, focusing on maximising the competitiveness of its existing regional network to capture opportunities arising from the continued evolution of global supply chains

Executive Director and Chief Executive Officer of CN Logistics, Mr. Ngan Tim Wing, said: “We are pleased to report a meaningful improvement in the Group’s profitability during the Period. The turnaround of CN Express into profitability, together with continued cost discipline and operational optimisation, demonstrates our efforts to enhance the quality and resilience of our operations. Looking ahead, eCommerce logistics will remain a key growth driver, supported by the continued expansion of cross-border online shopping and growing demand from international eCommerce platforms. We will continue to develop CN Express, while strengthening collaboration with leading platforms and leveraging our integrated logistics network to capture these opportunities.”

Mr. Ngan added, “We will continue to leverage our established presence in Southeast Asia to capture opportunities arising from global supply chain diversification and export-oriented manufacturing activities, with Vietnam and Cambodia remaining important markets. Amid continued geopolitical and trade uncertainties, the Group will maintain a prudent approach to resource allocation and cost discipline, while remaining focused on its core logistics businesses and operational efficiency. We will also continue to pursuing sustainable growth and delivering long-term value to our shareholders.”

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About CN Logistics International Holdings Limited

Established in 1991, CN Logistics is a well-established international logistics solutions provider offering comprehensive logistics services, including air and ocean freight forwarding, distribution and logistics, cruise logistics and cross-border eCommerce logistics. Building on its longstanding expertise in fashion and luxury logistics, the Group has evolved into a trusted logistics partner serving customers across diverse sectors, with a growing focus on specialised, technology-enabled and higher value-added logistics solutions. For more details, please visit the Company’s website: https://www.cnlogistics.com.hk