THI Global Holdings Corp (台驊國際投資控股), a Taiwanese freight-forwarder and logistics operator, yesterday said it was strengthening its domestic logistics in China and aims to become a globally integrated logistics service provider.
The company said it plans to establish a one-stop logistics platform in China — from customs declaration to storage and delivery — to enhance its competitiveness in the market.
“We have to focus on developing the best solution for cross-border e-commerce logistics,” THI chairman David Yen (顏益財) told a media briefing following the company’s annual shareholders’ meeting.
Yen is eyeing the rapid rise of the cross-border e-commerce business in China, where no shipper is able to offer the service, while players from the US and Europe still have difficulties to enter the market.
Compared with its peers, THI has been operating in China for years and has developed unique know-how to offer one-stop logistics service, which will make the company more competitive in the long term, Yen said.
The company will also adjust its business structure and focus on high-value-added customers, which should enable the company to improve its profitability by about 15 percent to 20 percent this year, he said.
THI posted a net profit of NT$12.1 million (US$398,645), or NT$0.15 per share, in the first three months of the year, up from NT$3.44 million, or NT$0.05 per share, a year earlier, company data showed.
Shareholders yesterday approved THI’s plan to distribute cash dividend of NT$0.33 per share and a stock dividend of 7.7 percent per share, based on its net profit of NT$104.38 million, or NT$1.4 per share, recorded last year.
The company yesterday also gained shareholders’ support to issue NT$300 million in corporate bonds. Proceeds from the bond issue will be used to fund potential acquisitions or joint ventures with logistic firms in China and other Asian countries.
THI shares climbed 1.58 percent to close at NT$25.70 on the over-the-counter market yesterday, outperforming the GRETAI index, which rose 0.43 percent.
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