PSI Group Holdings Ltd.

General Information

(Note: PSI Group Holdings Ltd. withdrew its IPO plans in an SEC filing dated Jan. 26, 2024. The company filed its F-1 on March 1, 2023.)

We are a freight forwarding service provider headquartered in Hong Kong with networks across the globe. We conduct our operations through our subsidiaries in Hong Kong, Profit Sail Int’l Express (H.K.) Limited and Business Great Global Supply Chain Limited (collectively the “Operating Subsidiaries”). (Incorporated in the Cayman Islands)

Our Operating Subsidiaries provide air and ocean export and import freight forwarding services with optional ancillary logistics related services (such as cargo pick up, cargo handling at ports and local transportation) and warehousing related services (such as repackaging, labelling, palletization, preparation of shipping documentation, arrangement of customs clearance and warehousing) to meet the requirement of our customers.

Our Operating Subsidiaries derive their revenue principally from air freight forwarding services and ocean freight forwarding services. For FY2020 and FY2021, PSIHK’s total revenue amounted to approximately USD 71.0 million and USD 130.9 million, respectively. In 6M2022, taking into account the acquisition of BGG in March 2022, our Operating Subsidiaries’ total revenue amounted to approximately USD 49.5 million. Most of the revenue is generated from air freight forwarding services, which represented 94.6%, 94.4% and 92.9% of the total revenue during FY2020, FY2021 and 6M2022 respectively as compared to 3.7%, 5.1% and 7.1% generated by ocean freight forwarding services.

During FY2020, FY2021 and 6M2022, our Operating Subsidiaries had served an aggregate of more than 500 customers, including freight forwarders and direct customers (i.e. customers that are not freight forwarders who purchase cargo space from the Operating Subsidiaries and directly ship their consignments, for example, manufacturers which directly ship their products to their customers through purchasing cargo space directly from the Operating Subsidiaries, or buyers of goods which arrange shipment by themselves). Our Operating Subsidiaries are capable of securing cargo space from their suppliers to reach a wide range of destinations, offering routes to over 90 countries. The revenue of the freight forwarding services is mainly derived from air freight export shipments to North America, Europe and Asia.

Our Operating Subsidiaries’ suppliers mainly include airlines, freight forwarders and shipping liners for cargo space and other suppliers for logistics related services such as transportation and warehousing related services. Our Operating Subsidiaries procure cargo space directly from airlines and shipping liners as well as from other freight forwarders under different arrangements, including direct booking, block space arrangements, and flight charters.

(Note: PSI Group Holdings Ltd. filed its F-1 on March 1, 2023.)

Employees: 37
Founded: 1993
Contact Information
Address Unit 1002, 10/F, Join-in Hang Sing Centre No.2-16 Kwai Fung Crescent, Kwai Chung New Territories, Hong Kong
Phone Number +852 2754 3320
Web Address
View Prospectus: PSI Group Holdings Ltd.
Financial Information
Market Cap $125.0mil
Revenues $121.9 mil (last 12 months)
Net Income $7.9 mil (last 12 months)
IPO Profile
Symbol PSIG
Exchange NASDAQ
Shares (millions): 3.3
Price range $4.00 - $6.00
Est. $ Volume $16.3 mil
Manager / Joint Managers Univest Securities
Expected To Trade:
Status: Withdrawn
Quiet Period Expiration Date:
Lock-Up Period Expiration Date:
SCOOP Rating
Rating Change