LC Logistics headquarters in Qingdao and sets up branches and subsidiaries in Shanghai, Ningbo, Xiamen, Shenzhen, Hainan, Zhangjiagang, Hong Kong and other ports, and subsidiaries in the United States, Vietnam, Singapore and Australia, with over 300 employees. Relying on its own fleet capacity, own containers, self-developed internet service system and cooperation resources accumulated over the years with various shipping companies, terminals and yards, LC Logistics continues to provide customers with high-quality and efficient modern cross-border logistics solutions, escorting Chinese brands promoted abroad.
With experienced management and a flat management system, LC Logistics builds a key senior management team which has an average industry experience of over 15 years.
Group Companies
BAL Container Line Co., Limited mainly provides seaborne cross-border services and is one of the principal operating subsidiaries of the Group. Established in Hong Kong, China in August 2012, BAL Container Line owns the Registration Certificate for International Liner Shipping Operation Qualification issued by the Ministry of Transportation of the PRC. BAL Container Line launched self-operated cross-border seaborne transportation between China and the United States in 2021 so that allows us to flexibly adjust our resource allocation according to market trends and better grasp the opportunities brought by market changes.
Established in January 2017, Ningbo Boya International Logistics Co., Ltd. mainly provides cross-border logistics services and is one of the principal operating subsidiaries of the Group. As one of the Group’s logistics subsidiaries in China, Ningbo Boya enters into freight forwarding service agreements or transport agreements with customers. Ningbo Boya obtained the qualification of NVOCC granted by Zhejiang Transportation Bureau in May 2021 and completed the filing of international freight forwarding agent with Ningbo Commerce Bureau in July 2022.
Established in January 1996, Shanghai Sijin Int’l Transport Co., Ltd. is principally engaged in provision of cross-border logistics services and owns the website of Sijin International (絲金國際), which mainly provides online services for cross-border transportation that departs from Shanghai and allows customers to book vessel slots, track booking status, inquire and confirm bills of lading, conduct account reconciliations and apply for invoices online, and is one of the principal operating subsidiaries of the Group. We acquired a 75% equity interest in Shanghai Sijin in 2019 for the purpose of expanding our market share of cross border logistics services and further enhance the service coverage of our internet system. Shanghai Sijin completed the filing of International Freight Forwarding Agent with Shanghai Commerce Bureau in June 2018, obtained the qualification of NVOCC granted by Municipal Transportation Commission of Shanghai in July 2019 and obtained the Registration Certificate of Customs Declaration granted by the Shanghai Railway Station Customs in July 2020.
Established in April 2019, Qingdao Wanhao International Ship Management Co., Ltd. is principally engaged in the provision of vessel management, marketing and operational support services to the Group’s Hong Kong vessel companies.
Established in March 2015, Shanghai Hanyun Network Technology Co., Ltd. is principally engaged in the provision of cross-border logistics services, including operating our internet service system for our cross-border seaborne transportation services, “Lcang.com”, and was officially recognized as a National High-New Technology Enterprise in 2018. The internet service system where BAL CONTAINER LINE CO., LIMITED and the Group’s logistics subsidiaries in mainland China conducted business are also developed by Shanghai Hanyun. Shanghai Hanyun completed the filing of International Freight Forwarding Agent with Shanghai Commerce committee in July 2019 and with Qingdao Commerce Bureau, and obtained the qualification of NVOCC granted by Municipal Transportation Commission of Shanghai in March 2023.
Established in May 2022, Shenzhen Lcang Cross Border Supply Chain Technology Co., Ltd. mainly provides cross-border logistics services. Shenzhen Lcang Cross Border Supply Chain, as one of the Group’s logistics subsidiaries in mainland China, enters into freight forwarding service agreements or transport agreements with customers. Shenzhen Lcang Cross Border Supply Chain obtained the qualification of NVOCC granted by Department of Transportation of Guangdong Province in October 2022 and completed the filing of International Freight Forwarding Agent with Shenzhen Commerce Bureau.
Established in April 2022, Xiamen Lcang International Logistics Co., Ltd. mainly provides cross-border logistics services. Xiamen Lcang, as one of the Group’s logistics subsidiaries in mainland China, enters into freight forwarding service agreements or transport agreements with its customers. Xiamen Lcang obtained the qualification of NVOCC granted by Fujian Transportation Bureau in October 2022 and completed the filing of International Freight Forwarding Agent with Xiamen Commerce Bureau.
Established in June 2021, Shenzhen Lcang International Logistics Co., Ltd., a subsidiary of LC Logistics in Shenzhen, mainly provides cross-border logistics services. Shenzhen Lcang International Logistics enters into freight forwarding service agreements or transport agreements with its customers. Shenzhen Lcang International Logistics obtained the qualification of NVOCC granted by Department of Transportation of Guangdong Province in July 2021 and completed the filing of International Freight Forwarding Agent with Shenzhen Commerce Bureau in September 2021.
We provide orientation training for new recruits to help them understand our corporate culture. We also organize a mentorship program where our more experienced employees help our new recruits to enhance their skills and knowledge to the daily operations. We also hold training meetings from time to time to enhance the skills of our employees.
We will strengthen the environmental, social and governance (“ESG”) training programs for directors, senior management and staffs to enhance their proficiency in ESG matters.
We regularly organize training in environmental protection for our staff, especially the crew members, to raise their environmental awareness, promote good habits of energy conservation and reduce resource consumption in our operations. We believe that this will improve the efficiency of resource and energy utilization in the long run.
We also provide environmental protection training for our employees to raise their awareness of energy consumption to reduce office electricity consumption.
We also provide training for our employees in industry and regulatory developments. For example, we have developed a Shore-Based Training Plan for our employees, which training content mainly covers the use and function of hull equipment, the operation of anti-pollution equipment, life-rescuing appliances and firefighting equipment, regulatory requirements and the Company's safety management system. Through the training, employees can learn more about inspection requirements for fire protection, lifesaving, communications, hull and equipment, as well as regulations of different flag countries. Employees also become more familiar with the Company's management system and regulations, and can use the Company's software proficiently and understand any newly effectively laws and regulations.
Our integrated solutions cover all major aspects of the cross-border logistics process, including cargo pick-up and sorting, customs clearance, cross-border seaborne transportation, warehouse transit and last-mile delivery. Relying on our in-depth industry experience and insights into customer needs, we have developed a professional ability to enhance our service quality and operational efficiency in the major aspects of the cross-border logistics process, as well as our resource integration capabilities. We have established long-term and stable cooperative relationships with solid domestic and overseas third-party suppliers to provide logistics services, covering seaborne transportation, freight forwarding, ground transportation, warehousing, customs clearance and insurance procurement. With these resources, we have created an integrated logistics service system, with us being the gateway and core. Customers only need to interact with us to enjoy the integrated solutions formulated by us. We provide accessible and convenient cross-border transportation, overcoming various obstacles commonly faced by customers in different industries in the long and complex cross-border logistics chain.
Relying on our resource integration capabilities, our integrated cross-border logistics solutions cover all major aspects of cross-border logistics. Our service portfolio covers key regions of cross-border logistics, including “deep-sea” countries in North America, Latin America, Europe and Australia and “short-sea” countries in Asia.
Customers may place online orders on the internet service system and complete the entire order process online, including to acquire service fee rate and shipping schedule, book shipment, confirm shipment and bill of lading, receive shipment alert, conduct account reconciliation, download electronic invoice and monitor shipment status. Standardized online operation and visualized shipment monitoring provide customers with an accessible and convenient service experience. In addition, our internet service system is capable of matching supply with demand, attracting new customers on the one hand and recruiting third-party service suppliers on the other hand. This has set an important foundation for our future integration to upgrade as a more comprehensive internet service platform, assisting us to attract new customers continuously and capture future development opportunities in the industry.
Since our establishment in 2004, we have built a reputable brand and formed a high quality customer base through years of development. We have established stable relationships with our customers through long-term, professional and in-depth cooperation. The number of our customers grew steadily from 2020 to 2022. In addition, the average revenue per customer also continued to increase during the Track Record Period. In addition to traditional customers, we primarily focus on the development of cross-border e-commerce customers along with the rapid growth of China’s cross-border e-commerce industry. Rooted in China, we have a thorough understanding of the needs of cross-border e-commerce customers. E-commerce customers mainly operate on major cross-border e-commerce platforms and have high demand for cross-border transportation and visualized tracking service. Our integrated cross-border logistics services are in line with the industry trend of Chinese brands’ going overseas and can effectively fulfill their cross-border e-commerce transportation needs.
LC Logistics has an experienced management team and our key senior management team has an average of more than 15 years of industry experience.