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<IPO>EDA GROUP HLDGS to Continue Expanding Biz w/ Asset-light Model; No Worries About CN-US Trade Conflict
CHINA LESSO (02128.HK) has spun off EDA GROUP HLDGS (02505.HK), a company engaged in one-stop end-to-end supply chain solutions for e-commerce, for listing in Hong Kong. EDA mainly...
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<IPO>EDA GROUP HLDGS to Continue Expanding Biz w/ Asset-light Model; No Worries About CN-US Trade Conflict
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CHINA LESSO (02128.HK)  0.000 (0.000%)    Short selling $362.32K; Ratio 6.629%   has spun off EDA GROUP HLDGS (02505.HK)  0.000 (0.000%)   , a company engaged in one-stop end-to-end supply chain solutions for e-commerce, for listing in Hong Kong. EDA mainly provides cross-border e-commerce customers with ‘first-trip’ international shipping services and ‘last-trip’ fulfilment service solutions.

About 62% of the listing proceeds are intended to be used to enhance EDA's global logistics network through an asset-light model, including plans to build a total of three self-operated warehouses in Germany and the US, as well as to engage third-party warehousing service providers to set up about 15 franchise warehouses in the US, the UK and Canada.

To date, EDA has contracted a total of 57 overseas warehouses in the US, Canada, the UK, Germany and Australia, spanning more than 20 cities on three continents, of which 47 are franchised warehouses, accounting for more than 80% of the total.

Cheung Man Yu, Executive Director, CFO and Company Secretary of EDA, said that the group has been able to rapidly expand its overseas presence through the adoption of the asset-light business model of franchised warehouses, and will continue to rely on the asset-light model for its future development. Therefore, it is expected that the existing ratio of self-owned warehouses and franchised warehouses will be maintained at an approximate level, while flexible adjustments will be made in accordance with the actual situation, so as to more closely match customers' plans.

Asked about the risks arising from the trade disputes between China and the US, Liu Yong, Chairman of the Board and Executive Director of EDA, pointed out that China's cross-border e-commerce business is mainly focused on the North American market, and therefore the Group has 48 warehouses in Canada and the US, with the latter accounting for a relatively high proportion of the relevant business. However, as cross-border e-commerce mainly involves consumer goods, which are not subject to tariff policies at present, and China-made products have more competitive advantages, it is believed that the core tariff policies will not bring too much impact in the future.

(HK stocks quote is delayed for at least 15 mins.Short Selling Data as at 2024-07-18 16:25.)

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