New Century Logistics Files 20-F, Nasdaq Ticker NCEW

Ticker: NCEW · Form: 20-F · Filed: Jan 28, 2025 · CIK: 1968043

New Century Logistics (Bvi) LTD 20-F Filing Summary
FieldDetail
CompanyNew Century Logistics (Bvi) LTD (NCEW)
Form Type20-F
Filed DateJan 28, 2025
Risk Levellow
Pages15
Reading Time19 min
Key Dollar Amounts$1.00
Sentimentneutral

Sentiment: neutral

Topics: annual-report, 20-f, logistics

Related Tickers: NCEW

TL;DR

NCEW filed its 20-F for FY24, 20M shares outstanding on Nasdaq.

AI Summary

New Century Logistics (BVI) Limited filed its annual report on Form 20-F for the fiscal year ended September 30, 2024. The company is incorporated in the British Virgin Islands and its principal executive offices are located in Hong Kong. Its ordinary shares trade on The Nasdaq Stock Market LLC under the ticker symbol NCEW, with 20,000,000 shares issued and outstanding as of September 30, 2024.

Why It Matters

This filing provides investors with the company's annual financial and operational overview, crucial for understanding its performance and outlook on the Nasdaq.

Risk Assessment

Risk Level: low — This is a routine annual filing and does not contain specific new risk-inducing information.

Key Numbers

Key Players & Entities

FAQ

What is the primary purpose of this Form 20-F filing for New Century Logistics (BVI) Limited?

The primary purpose is to serve as an annual report for the fiscal year ended September 30, 2024, providing a comprehensive overview of the company's operations and financial status.

Where are New Century Logistics (BVI) Limited's ordinary shares registered for trading?

The ordinary shares of New Century Logistics (BVI) Limited are registered for trading on The Nasdaq Stock Market LLC.

What is the trading symbol for New Century Logistics (BVI) Limited's ordinary shares?

The trading symbol for New Century Logistics (BVI) Limited's ordinary shares is NCEW.

How many ordinary shares were issued and outstanding as of September 30, 2024?

As of September 30, 2024, there were 20,000,000 ordinary shares issued and outstanding.

Who is listed as the Chief Executive Officer of New Century Logistics (BVI) Limited?

Ngan Ching Shun is listed as the Chief Executive Officer of New Century Logistics (BVI) Limited.

Filing Stats: 4,636 words · 19 min read · ~15 pages · Grade level 13.9 · Accepted 2025-01-28 16:11:24

Key Financial Figures

Filing Documents

SIGNATURES

SIGNATURES 120 FINANCIAL F- 1 2 INTRODUCTION Unless otherwise indicated, all references in this Annual Report on Form 20-F to "NCEW," "NC Logistics", "we," "our," "us," "the company" or similar terms refer to NEW CENTURY LOGISTICS (BVI) LIMITED and its consolidated subsidiaries. We publish our consolidated financial statements in US dollars. We do not have any material operations of our own and we are a holding company with operations conducted in Hong Kong through our Hong Kong subsidiaries NCL (HK), GLF and Win-Tec, using Hong Kong dollars, the currency of Hong Kong. NC Logistics' reporting currency is Hong Kong dollars. This Annual Report on Form 20-F contains translations of certain foreign currency amounts into U.S. dollars for the convenience of the reader. All translations of Hong Kong dollars are calculated at the rate of US$1.00=HKD7.80. No representation is made that the HKD amounts could have been, or could be, converted, realized or settled into US$ at such rate, or at any other rate. CAUTIONARY NOTE REGARDING FORWARD-LOOKING STATEMENTS This Annual Report contains forward-looking statements. These statements are neither historical facts nor assurances of future performance. Instead, they are based on our current beliefs, expectations and assumptions regarding the future of our business, future plans and strategies, and other future conditions. Forward-looking statements can be identified by words such as "anticipate," "believe," "estimate," "expect," "forecast," "intend," "may," "plan," "predict," "project," "target," "potential," "will," "would," "could," "should," "continue," and other similar expressions, although not all forward-looking statements contain these identifying words. These forward-looking statements include all matters that are not historical facts. They appear in many places throughout this Annual Report and include statements regarding our intentions, beliefs or current expectations concerning, among other

Risk Factors

Risk Factors New Century Logistics (BVI) Limited was incorporated in the BVI on April 24, 2019 with limited liability and is a holding company with no material operations. Our operations are conducted in Hong Kong by our wholly-owned subsidiaries, namely (i) New Century Logistics Company Limited ("NCL (HK)"), a company incorporated in Hong Kong with limited liability, (ii) GLF Cargo Services Limited ("GLF"), a company incorporated in Hong Kong with limited liability and a wholly-owned by NCL (HK), and (iii) Win-Tec Transportation Company Limited ("Win-Tec"), a company incorporated in Hong Kong with limited liability and a wholly-owned by NCL (HK). The Company acquired the NCL (HK) on May 10, 2019. NCL (HK) acquired both of GLF and Win-Tec on September 26, 2019. You should carefully consider all of the information in this Annual Report before making an investment in our Ordinary Shares. Below please find a summary of the principal risks we face, organized under relevant headings. These risks are discussed more fully in the section titled "Risk Factors." 6 Risk Factor Summary Risks Related to Our Business Risks and uncertainties related to our business and industry include, but are not limited to, the following: 1. Our revenues, operating income and cash flows are likely to fluctuate. 2. We rely on a limited number of vendors. 3. We may be subject to cyber-attacks and data breach. Risks Related to Our Industry We are also subject to risks and uncertainties related to our people, including, but not limited to, the following: 1. We operate in a highly competitive industry. 2. We are highly impacted by the socio-economic landscape. Risks Related to Our Corporate Structure We are also subject to risks and uncertainties related to our corporate structure, including, but not limited to, the following: 1. As a holding company with no operation of its own, we rely on dividends from our subsidiaries. 2. We are exempted from certain disclo

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