Overview
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- TickerNCEW on Nasdaq1
- IndustryArrangement of Transportation of Freight & Cargo1
- HeadquartersHong Kong, China1
- Incorporated inVirgin Islands, British3
- Business addressOffice A-E, 33/F, King Palace Plaza,, 55 King Yip Street, Kwun Tong, Hong Kong, F4 00003
- Filer categoryNon-accelerated filer, Emerging growth company3
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Logistics was incorporated in the BVI on April 24, 2019 and is a holding company with no material operations.4 From its latest annual report
Financials
From the company’s reports to the SEC. Every number links to the filing it came from.
Key numbers, fiscal 2025
0.4%Gross margin2
-24.6%Operating margin2
-24.2%Net margin2
-15.5%Revenue growth, 20252
-201.8%Return on equity2
-$3.5MFree cash flow2
What sells
Revenue by product, business segment and region, as the company reports it to the SEC.
Business segments
Air Freight Forwarding Services brought in 95% of the revenue New Century Logistics (BVI) Ltd broke down this way in fiscal 2025.
Business segments by year
| Business segments | 2023 | 2024 | 2025 |
|---|---|---|---|
| Air Freight Forwarding Services | $33.2M | $48.0M | $41.9M |
| Other Services | $2.5M | $3.3M | $1.6M |
| Ocean Freight Forwarding Services | $378.0K | $898.7K | $564.9K |
Where the money goes
Where each dollar of revenue went, fiscal 2025
- Cost of revenue100¢$43.9M
- Interest0¢$20.5K
- Income tax0¢$20.6K
Out of $44.1M in revenue.2 The company lost money this year.
Financial statements
No quarterly figures reported.
Every line of the income statement as filed: the last 3 fiscal years, latest first.2
| Period ending | 2025-09-30 | 2024-09-30 | 2023-09-30 |
|---|---|---|---|
| Revenues | $44.1M | $52.2M | $36.1M |
| Cost of revenues | -$43.9M | -$47.9M | -$32.6M |
| Gross profit | $162.7K | $4.2M | $3.5M |
| General and administrative expenses | -$11.0M | -$3.8M | -$3.0M |
| Total operating expenses | -$11.0M | -$3.8M | -$3.0M |
| Income (loss) from operations | -$10.8M | $470.3K | $522.5K |
| Other income | $145.7K | $22.6K | $66.6K |
| Interest expense, net | -$58.3K | -$98.0K | -$88.7K |
| Total other (expenses) income, net | $87.4K | -$75.4K | -$22.1K |
| Income (loss) before income tax | -$10.8M | $394.8K | $500.4K |
| Income tax (expenses) credit | $20.6K | -$174.2K | -$46.0K |
| Net income (loss) and comprehensive income (loss) | -$10.7M | $220.6K | $454.4K |
| Net loss attributable to non-controlling interests | -$57.2K | ||
| Net income (loss) attributable to New Century Logistics (BVI) Limiteds shareholders | -$10.7M | $220.6K | $454.4K |
| Basic | -$3.71 | $0.09 | $0.18 |
| Diluted | -$3.71 | $0.09 | $0.18 |
| Weighted average number of ordinary shares used in computing net income (loss) per share, basic | 2.9M shares | 2.5M shares | 2.5M shares |
| Weighted average number of ordinary shares used in computing net income (loss) per share, diluted | 2.9M shares | 2.5M shares | 2.5M shares |
No quarter-by-quarter statement was filed.
No quarterly figures reported.
Every line of the balance sheet as filed: the last 5 fiscal years (annual) or 7 quarters (quarterly), latest first.2
| Period ending | 2025-09-30 | 2024-09-30 | 2023-09-30 | 2023-06-30 | 2023-03-31 |
|---|---|---|---|---|---|
| Cash and cash equivalents | $645.9K | $659.3K | |||
| Restricted cash | $320.5K | ||||
| Accounts receivable, net | $11.8M | $13.2M | |||
| Deferred listing cost | $1.9M | ||||
| Deposits, prepayment and other receivables | $460.4K | $473.9K | |||
| Total current assets | $13.2M | $17.1M | |||
| Property, plant and equipment, net | $51.4K | $33.3K | |||
| Right-of-use assets - operating leases, net | $458.6K | $1.0M | $1.6M | ||
| Right-of-use assets - finance lease, net | $120.9K | $155.0K | $99.3K | ||
| Deposits | $512.8K | ||||
| Deferred tax assets | $193.2K | $172.6K | |||
| Total non-current assets | $1.3M | $1.4M | |||
| TOTAL ASSETS | $14.5M | $18.5M | |||
| Bank overdraft | $717.3K | $591.2K | |||
| Bank loans current | $1.9M | $897.4K | |||
| Accounts payable | $5.3M | $6.5M | |||
| Accruals and other current liabilities | $375.0K | $165.6K | |||
| Operating lease liabilities current | $215.6K | $594.6K | |||
| Finance lease liabilities current | $36.6K | $34.7K | |||
| Income tax payables | $433.9K | $462.6K | |||
| Total current liabilities | $9.0M | $11.7M | |||
| Operating lease liabilities non-current | $223.2K | $394.4K | |||
| Finance lease liabilities non-current | $93.1K | $125.7K | |||
| Total non-current liabilities | $316.2K | $520.1K | |||
| TOTAL LIABILITIES | $9.3M | $12.2M | |||
| Additional paid-in capital | $9.9M | $153.6K | |||
| Retained earnings (accumulated loss) | -$4.6M | $6.1M | |||
| New Century Logistics (BVI) Limited Total Shareholders Equity | $5.3M | $6.2M | |||
| Non-controlling interest | -$57.2K | ||||
| Total shareholders equity | $5.2M | $6.2M | $6.0M | ||
| TOTAL LIABILITIES AND EQUITY | $14.5M | $18.5M | |||
| Ordinary shares, par value | $0.00 | $0.00 | |||
| Ordinary shares, shares authorized | 12.5M shares | 12.5M shares | 100.0M shares | 2.0B shares | |
| Ordinary shares, shares issued | 3.2M shares | 2.5M shares | |||
| Ordinary shares, shares outstanding | 3.2M shares | 2.5M shares |
| Period ending | 2025-09-30 | 2024-09-30 | 2023-09-30 | 2023-06-30 | 2023-03-31 | 2022-09-30 | 2019-04-30 |
|---|---|---|---|---|---|---|---|
| Cash and cash equivalents | $645.9K | $659.3K | |||||
| Restricted cash | $320.5K | ||||||
| Accounts receivable, net | $11.8M | $13.2M | |||||
| Deferred listing cost | $1.9M | ||||||
| Deposits, prepayment and other receivables | $460.4K | $473.9K | |||||
| Total current assets | $13.2M | $17.1M | |||||
| Property, plant and equipment, net | $51.4K | $33.3K | |||||
| Right-of-use assets - operating leases, net | $458.6K | $1.0M | $1.6M | ||||
| Right-of-use assets - finance lease, net | $120.9K | $155.0K | $99.3K | ||||
| Deposits | $512.8K | ||||||
| Deferred tax assets | $193.2K | $172.6K | |||||
| Total non-current assets | $1.3M | $1.4M | |||||
| TOTAL ASSETS | $14.5M | $18.5M | |||||
| Bank overdraft | $717.3K | $591.2K | |||||
| Bank loans current | $1.9M | $897.4K | |||||
| Accounts payable | $5.3M | $6.5M | |||||
| Accruals and other current liabilities | $375.0K | $165.6K | |||||
| Operating lease liabilities current | $215.6K | $594.6K | |||||
| Finance lease liabilities current | $36.6K | $34.7K | |||||
| Income tax payables | $433.9K | $462.6K | |||||
| Total current liabilities | $9.0M | $11.7M | |||||
| Operating lease liabilities non-current | $223.2K | $394.4K | |||||
| Finance lease liabilities non-current | $93.1K | $125.7K | |||||
| Total non-current liabilities | $316.2K | $520.1K | |||||
| TOTAL LIABILITIES | $9.3M | $12.2M | |||||
| Additional paid-in capital | $9.9M | $153.6K | |||||
| Retained earnings (accumulated loss) | -$4.6M | $6.1M | |||||
| New Century Logistics (BVI) Limited Total Shareholders Equity | $5.3M | $6.2M | |||||
| Non-controlling interest | -$57.2K | ||||||
| Total shareholders equity | $5.2M | $6.2M | $6.0M | $11.5M | |||
| TOTAL LIABILITIES AND EQUITY | $14.5M | $18.5M | |||||
| Ordinary shares, par value | $0.00 | $0.00 | |||||
| Ordinary shares, shares authorized | 12.5M shares | 12.5M shares | 100.0M shares | 2.0B shares | 50.0K shares | ||
| Ordinary shares, shares issued | 3.2M shares | 2.5M shares | |||||
| Ordinary shares, shares outstanding | 3.2M shares | 2.5M shares |
Cash flow is reported year to date, not quarter by quarter, so there are no separate quarterly figures.
Every line of the cash flow as filed: the last 3 fiscal years, latest first.2
| Period ending | 2025-09-30 | 2024-09-30 | 2023-09-30 |
|---|---|---|---|
| Net income (loss) | -$10.7M | $220.6K | $454.4K |
| Depreciation of property, plant and equipment | $36.4K | $179.1K | $187.3K |
| Depreciation of right-of-use assets finance lease | $34.0K | $38.1K | $41.1K |
| Operating lease expenses | $633.8K | $1.2M | $1.1M |
| Gain of early termination of finance lease | -$12.8K | ||
| Deferred tax expenses | -$20.6K | -$54.2K | -$1.9K |
| (Reversal) provision of current expected credit loss of accounts receivables | $164.5K | $243.2K | -$176.2K |
| Share-based compensation expenses | $6.4M | ||
| Change of deferred offering cost | $511.8K | $273.1K | |
| Accounts receivable, net | $1.3M | -$2.0M | -$626.9K |
| Contract assets | $61.3K | ||
| Deposits, prepayment and other receivables | $13.5K | -$145.7K | $71.9K |
| Account payables | -$1.3M | $2.6M | -$569.3K |
| Lease liabilities operating lease | -$633.4K | -$1.2M | -$1.1M |
| Accruals and other current liabilities | $209.4K | -$177 | -$9.9K |
| Income taxes payable | -$28.7K | $89.7K | -$1.9M |
| Cash (used in) provided by operating activities | -$3.4M | $1.4M | -$2.5M |
| Purchase of property, plant and equipment | -$54.5K | ||
| (Payment) collection of loan receivable | $218.1K | -$218.1K | |
| Cash (used in) provided by investing activities | -$54.5K | $218.1K | -$218.1K |
| Principal payment of finance lease liabilities | -$30.8K | -$33.0K | -$40.2K |
| Advances to shareholder and director | -$813.4K | -$1.6M | |
| Repayment from directors | $270.4K | $1.3M | |
| Proceeds from related party | $895.6K | $935.1K | |
| Repayment of loan from related party | -$2.4M | ||
| Net proceeds from initial public offering | $5.0M | ||
| Payment of offering costs | -$167.7K | -$605.5K | -$896.7K |
| Proceeds from bank overdraft | $126.1K | $27.1M | $14.2M |
| Repayment of bank overdraft | -$27.4M | -$13.2M | |
| Proceeds from bank loan | $1.9M | $897.4K | |
| Repayment of bank loan | -$897.4K | -$1.3M | -$220.5K |
| Cash provided by (used in) financing activities | $3.8M | -$1.3M | $502.4K |
| Net change in cash and cash equivalents, and restricted cash | $307.1K | $368.0K | -$2.2M |
| Cash paid for interest | -$58.3K | -$98.0K | -$77.3K |
| Cash paid for income tax | -$28.6K | -$138.7K | -$2.0M |
| Refundable deposit for acquisition of a subsidiary settled through amounts due from related parties | $512.8K | ||
| Dividend declared offset against due from shareholder and director | $6.0M | ||
| Deferred offering costs within accruals and other current liabilities | $99.6K | $600.0K | |
| Right-of-use assets obtained in exchange for new operating lease liabilities | $648.8K | $603.4K | $49.4K |
| Right-of-use assets obtained in exchange for new finance lease liabilities | $172.2K |
No quarter-by-quarter statement was filed.
Compare New Century Logistics (BVI) Ltd with another company
Corporate structure
New Century Logistics (BVI) Ltd sits at the top of its group. 1 entity, 1 country on record. Switch between the flow chart and the network, and select any entity to see its details.
Major holders of New Century Logistics (BVI) Ltd
- Xueyi Chen Filed SCHEDULE 13G on New Century Logistics (BVI) Ltd, latest Sep 4, 2026
- Bin Zhang Filed SCHEDULE 13G on New Century Logistics (BVI) Ltd, latest Mar 24, 2026
- Asia International Securities Exchange Co., Ltd. Filed SCHEDULE 13G on New Century Logistics (BVI) Ltd, latest Feb 6, 2025
- Chi Keung Yip Filed SCHEDULE 13G on New Century Logistics (BVI) Ltd, latest Feb 6, 2025
- Ching Shun Ngan Filed SCHEDULE 13G on New Century Logistics (BVI) Ltd, latest Feb 6, 2025
- Yuk Hung Sin Filed SCHEDULE 13G on New Century Logistics (BVI) Ltd, latest Feb 6, 2025
- New Century Logistics (BVI) Ltd Hong Kong, China
Built from major holders from Schedules 13D and 13G. Each entity in the chart links to its source.
What it owns
What New Century Logistics (BVI) Ltd reports owning in its annual reports to the SEC: buildings, land and equipment, real estate and locations, investments, intangible assets and inventory, at the end of its latest fiscal year and a year before.
Property and equipment
| Item | Latest | A year before | Change |
|---|---|---|---|
| Leasehold improvements | $54.5K6 Sep 30, 2025 | ||
| Property and equipment, before depreciation | $1.3M2 Sep 30, 2025 | $1.4M2 Sep 30, 2024 | −5.2% |
| Accumulated depreciation | $1.2M2 Sep 30, 2025 | $1.3M2 Sep 30, 2024 | −6.7% |
| Property and equipment, net | $51.4K2 Sep 30, 2025 | $33.3K2 Sep 30, 2024 | +54.3% |
| Finance-lease assets | $120.9K2 Sep 30, 2025 | $155.0K2 Sep 30, 2024 | −22.0% |
| Operating-lease assets (leased space) | $458.6K2 Sep 30, 2025 | $1.0M2 Sep 30, 2024 | −54.6% |
Investments
Leadership
Who has led New Century Logistics (BVI) Ltd, and when. Pick a name to see everywhere that person has worked.
Chief executive
Chief financial officer
- Chief executive officerChing Shun Ngan Mar 31, 2026 to now7
- ChairChing Shun Ngan Mar 31, 2026 to now7
- Chief financial officerCheuk Ho Chan Mar 31, 2026 to now8
Board members and other officers (6)
- Board memberHo Kwan Wong Mar 31, 2026 to now9
- Board memberKa Ying Chu Mar 31, 2026 to now10
- Board memberKwok Wan Lee Mar 31, 2026 to now11
- Board memberLong Kin Liu Mar 31, 2026 to now12
- Board memberShing Kwan Henry Lam Mar 31, 2026 to now13
- Board memberTsz Yeung Mak Mar 31, 2026 to now14
Timeline
- Mar 31, 2026New chief executive Ching Shun Ngan becomes CEO7
Filings
82 filings to the SEC since October 2021: 3 annual reports, 10 insider forms, 6 large holders, 63 other. The latest 20:
- Sep 4, 2026SCHEDULE 13G EDGAR
- Jul 13, 20266-K EDGAR
- Jun 8, 202620-F/A EDGAR
- Mar 31, 20263 EDGAR
- Mar 31, 20263 EDGAR
- Mar 31, 20263 EDGAR
- Mar 31, 20263 EDGAR
- Mar 31, 20263 EDGAR
- Mar 31, 20263 EDGAR
- Mar 31, 20263 EDGAR
- Mar 31, 20263 EDGAR
- Mar 31, 20263 EDGAR
- Mar 31, 20263 EDGAR
- Mar 24, 2026SCHEDULE 13G EDGAR
- Mar 9, 20266-K EDGAR
- Feb 17, 202620-F EDGAR
- Jan 30, 2026NT 20-F EDGAR
- Dec 18, 20256-K EDGAR
- Nov 7, 20256-K EDGAR
- Sep 30, 20256-K EDGAR
The 82 filings since October 2021 can be filtered by form type and year here when JavaScript is on.
Every filing from the last five years, summarized. The full record is on SEC EDGAR.
Major holders
Investors who own more than 5% of the shares must tell the SEC: a 13D if they may seek to influence the company, a 13G if they hold passively.
- Xueyi ChenSCHEDULE 13G, 1 filing Sep 4, 202615
- Bin ZhangSCHEDULE 13G, 1 filing Mar 24, 202616
- Asia International Securities Exchange Co., Ltd.SCHEDULE 13G, 1 filing Feb 6, 202517
- Chi Keung YipSCHEDULE 13G, 1 filing Feb 6, 202518
- Ching Shun NganSCHEDULE 13G, 1 filing Feb 6, 202519
- Yuk Hung SinSCHEDULE 13G, 1 filing Feb 6, 202520
SEC filer profile
How New Century Logistics (BVI) Ltd is registered with the Securities and Exchange Commission, from its EDGAR record and the cover page of its latest annual report.
- Name on EDGARNew Century Logistics (BVI) Ltd1
- CIK0001968043
- Filer statusNon-accelerated filer an emerging growth company; a shell company4
- Incorporated inBritish Virgin Islands4
- Fiscal year endsSeptember 301
- Industry code (SIC)4731 Arrangement of Transportation of Freight & Cargo1
- SEC reviewing officeOffice of Energy & Transportation, Division of Corporation Finance1
- Business addressOffice A-E, 33/F, King Palace Plaza,, 55 King Yip Street, Kwun Tong, Hong Kong, F4 00001
- Phone(852) 3974 18281
- Shares outstanding25,600,000 shares as of Sep 30, 20254
- AuditorAOGB CPA Limited, Hong Kong, Hong Kong PCAOB ID 7020; no auditor attestation of internal control over financial reporting4
- On EDGAR sinceApr 28, 20231
- Filings82 in all: CORRESP (19), 6-K (13), 3 (10), F-1/A (9), SCHEDULE 13G (6), UPLOAD (6), 20-F (2), 424B4 (2)1
All 20 form types
DRSLTR (2), EFFECT (2), POS AM (2), 20-F/A (1), 8-A12B (1), CERT (1), DRS (1), DRS/A (1), F-1 (1), F-1MEF (1), NT 20-F (1), S-8 (1)
- Latest filingsAnnual report (20-F) Feb 17, 2026
Securities registered for trading
| Class | Symbol | Exchange |
|---|---|---|
| Ordinary Shares | NCEW | The Nasdaq Stock Market LLC |
From the cover page of the 20-F filed Feb 17, 2026 (Section 12(b) of the Exchange Act).4
Sources
The numbers on this page point here. Each one links to the record it came from.
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- 6
- 7
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- 9SEC EDGARHo Kwan Wong, Board member
- 10SEC EDGARKa Ying Chu, Board member
- 11SEC EDGARKwok Wan Lee, Board member
- 12SEC EDGARLong Kin Liu, Board member
- 13SEC EDGARShing Kwan Henry Lam, Board member
- 14SEC EDGARTsz Yeung Mak, Board member
- 15
- 16
- 17
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- 20