Freight forwarder and logistics operator T3EX Global Holdings Corp (台驊國際投資控股) yesterday said it does not expect a significant impact from an escalating trade row between the US and China.
The company, which primarily operates in China, said that its ocean freight business primarily transports US-bound products that have lower added value, such as home appliances, textiles, apparel and shoes, which are mostly outside the scope of ongoing tariff hikes.
As to air cargo, the company said it does not have many customers in industries hard hit by tariff hikes, such as aeroespace and information and communication technology.
Air cargo demand is expected to continue rising this year, propelled by continued growth in China’s cross-border e-commerce market, which is projected to expand 18 percent annually this year to 9 trillion yuan (US$1.37 trillion), it said, citing findings by Chinese consulting firm iiMedia Research.
In particular, the company said that its busines-to-consumer courier business in China has recovered to the break-even point following two consecutive years of operating losses.
The company said that inbound shipments should become a more important aspect of the Chinese market, and smaller-scale companies are expected to play a bigger role in satisfying the vast demand through cross-border e-commerce platform.
Previously, imports to China have been dominated by larger multinational firms, and the company is committed to further expansions in the nation to address the challenges faced by smaller exporters, it said, adding that these challenges include difficulty in obtaining customs clearance, a lack of information, credit checks and trade financing.
Shareholders yesterday approved plans to distribute a cash dividend of NT$0.90 and a stock dividend of 4 percent.
The company reported that sales during the first five months rose 1.47 percent annually to NT$4.27 billion.
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