NCEW

MKT CAP:$42M

New Century Logistics (BVI) Limited

Market Cap

$42M

Industrials·Integrated Freight & Logistics·🇭🇰 Hong Kong·NASDAQ

Industrials·Integrated·🇭🇰·NASDAQ

Stock Price

$13.02+$6.75 (+107.66%)

Apr 21, 2026

Company Details

New Century Logistics (BVI) Limited, through its subsidiaries, offers freight forwarding services in Hong Kong. The company provides air and ocean export and import freight forwarding services, including cargo space, cargo pick up, off-airp...

CEO

Ching Shun Ngan

IPO Date

Dec 18, 2024

Website

nclogistics.com.hk

Key Metrics TTM

Revenue

$38M

— YoY

Net Income

-$3M

EPS (Diluted)

-$0.50

Free Cash Flow

$1M

Revenue / Share

$11.79

Gross Margin

4.2%

Operating Margin

-8.2%

Net Margin

-8.3%

FCF Margin

2.8%

P/S

1.1x

P/E

—

Earnings Reports

FY 2025

Feb 17, 2026

$6M-89.2%EPS -$0.48

Q4 2025

Feb 17, 2026

$3M-78.4%EPS -$0.35

Q2 2025

Sep 30, 2025

$11M-15.4%EPS -$0.04

Q1 2025

Dec 31, 2024

$11M-15.4%EPS -$0.04

FY 2024

Jan 28, 2025

$52M+44.6%EPS $0.09

Revenue & Profitability

Quarter	Revenue	Gross Profit	Operating Income
Q1 24	$13M	$1M	$332.2K
Q2 24	$13M	$1M	$332.2K
Q3 24	$13M	$887.4K	-$97.1K
Q4 24	$13M	$887.4K	-$97.1K
Q1 25	$11M	$391.6K	-$915.4K
Q2 25	$11M	$391.6K	-$915.4K
Q4 25	$3M	-$80.6K	-$1M

Valuation

Quarter	P/S	P/E
Q1 24	—	—
Q2 24	—	—
Q3 24	—	—
Q4 24	0.8x	188.5x
Q1 25	0.8x	—
Q2 25	0.9x	—
Q4 25	1.1x	—

Operating Cash Flow

Quarter	Operating CF	Free CF
Q1 24	$191.2K	$191.2K
Q2 24	$191.2K	$191.2K
Q3 24	$526.1K	$526.1K
Q4 24	$526.1K	$526.1K
Q1 25	$0	$0
Q2 25	$0	$0

OpEx vs Revenue Growth (YoY)

Quarter	Revenue Growth	OpEx Growth
Q1 25	-15.4%	-5.7%
Q2 25	-15.4%	-5.7%
Q4 25	-78.4%	-70.0%

Stock-Based Compensation

Quarter	SBC ($)	% of Revenue
Q1 24	$0	0.0%
Q2 24	$0	0.0%
Q3 24	$0	0.0%
Q4 24	$0	0.0%
Q1 25	$0	0.0%
Q2 25	$0	0.0%

OpEx Breakdown

Quarter	G&A	S&M	SG&A
Q1 24	$237.3K	$550.7K	—
Q2 24	$237.3K	$550.7K	—
Q3 24	$261.8K	$736.5K	—
Q4 24	$261.8K	$736.5K	—
Q1 25	$1M	—	—
Q2 25	$1M	—	—
Q4 25	—	—	$1M

War Chest

Quarter	Cash	Short-term Investments	Total
Q4 22	$2M	$0	$2M
Q2 23	$669.0K	$0	$669.0K
Q4 23	$291.3K	$0	$291.3K
Q1 24	$158.4K	$305.2K	$463.6K
Q2 24	$158.4K	$0	$158.4K
Q3 24	$659.3K	$304.3K	$963.6K
Q4 24	$659.3K	$0	$659.3K
Q1 25	$288.5K	$3M	$3M
Q2 25	$288.5K	$3M	$3M
Q4 25	$124.2K	$0	$124.2K

Shares Outstanding

Quarter	Shares (Diluted)	QoQ Change	YoY Change
Q1 24	3M	—	—
Q2 24	3M	0.0%	—
Q3 24	3M	0.0%	—
Q4 24	3M	0.0%	—
Q1 25	21M	+734.3%	+734.3%
Q2 25	21M	0.0%	+734.3%
Q4 25	3M	-84.7%	+28.0%

Shares Outstanding

Revenue Per Employee

Period	Revenue/Employee	Employees
Q1 24	—	—
Q2 24	—	—
Q3 24	—	—
Q4 24	$353.8K	38
Q1 25	$281.4K	38
Q2 25	$281.4K	38
Q4 25	$74.5K	39

Revenue / Employee