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    Transportation

  3. •

    Air freight/Couriers
VSING Limited

VSING Limited

HHKEX:8292
0.10
HKD
+0.00
(-3.96%)
34.21MMarket Cap
VSING Limited
HKEX:8292
(Hong Kong Exchange)

Recent

price

0.10

P/E

ratio

- -

div

yld

- -

ROIC.AI

2014
2015
2016
2017
2018
2019
2020
2021
2022
2023
2024
2025
TTM
MYR
0.84
1.16
1.29
1.01
0.78
0.68
0.76
0.32
0.21
0.18
0.13
0.14
- -
Revenue per Share
0.05
0.1
- -
-0.02
-0.04
-0.05
-0.02
-0.04
-0.02
-0.03
-0.01
-0.08
- -
Basic EPS, GAAP
-0.09
0.1
-0.13
0.05
-0.05
0.01
-0.04
-0.02
-0.02
-0.01
-0.01
-0.02
- -
Free Cash Flow per Basic Share
- -
0.04
0.14
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
Dividend per Share
0.17
0.32
0.56
0.52
0.48
0.43
0.36
0.1
0.08
0.06
0.04
0.06
0.05
Book Value per Share
0.17
0.32
0.56
0.52
0.48
0.43
0.36
0.1
0.08
0.06
0.04
0.03
0.05
Tangible Book Value per Share
71
71
83
95
95
95
91
282
634
634
634
879
633
Basic Weighted Avg Shares
60
83
107
96
74
64
69
89
135
116
85
123
- -
Sales/Revenue/Turnover
9.05
10.94
-1.06
-1.01
-4.29
-6.06
-8.14
-8.24
-6.87
-11.88
-10.32
-5.39
- -
Operating Margin (%)
1
3
3
2
3
4
4
5
3
3
- -
4
- -
Depreciation Expense
4
7
- -
-2
-4
-5
-2
-12
-13
-20
-6
-74
- -
Net Income, GAAP
32.62
30.94
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
Effective Tax Rate (%)
6.42
8.39
-0.01
-2.24
-5.25
-7.04
-2.32
-13.06
-9.33
-17.53
-7.23
-60.43
- -
Profit Margin (%)
11
24
46
40
35
29
30
49
37
27
14
22
19
Working Capital
16
18
17
14
13
14
12
10
3
2
2
3
2
LT Debt
17
30
54
49
46
41
43
67
54
36
24
60
30
Total Equity
- -
17.27
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
Return on Invested Capital (%)
- -
17.69
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
Return on Capital (%)
- -
29.77
-0.02
-4.21
-8.23
-10.47
-3.81
-21.33
-21.11
-45.65
-20.15
-174.08
- -
Return on Common Equity (%)

Capital Structure

MYR

•

in mil. unless spec.
Sep'23
Dec'23
Jun'24
ST Debt
- -
5
4
LT Borrowings
- -
1
- -
LT Finance Leases
- -
1
1
Preferred Equity and Hybrid Capital
- -
- -
- -
Shares Outstanding
634
634
634
Market Capitalization
30
28
21

Working Capital

MYR

•

in mil. unless spec.
Sep'23
Dec'23
Jun'24
Total Current Assets
- -
47
36
Cash, Cash Equivalents & STI
- -
22
14
Accounts Receivable, Net
- -
14
12
Inventories
- -
5
3
Total Current Liabilities
- -
20
17
Payables & Accruals
- -
- -
- -
ST Debt
- -
5
4
Deferred Revenue
- -
- -
- -

Growth Rates

MYR

•

in mil. unless spec.

(avg. rate of change)

10 years
5 years
1 year
Total Equity
17.4%
23.47%
147.77%
Free Cash Flow
-103.26%
38.43%
41.26%
Net Income, GAAP
3,243.47%
346.3%
1,104.94%
Sales/Revenue/Turnover
7.42%
16.85%
44.17%
Total Cash Common Dividend
- -
- -
- -

Semi-annual Revenue

MYR

•

in mil. unless spec.

Year

H1
H2
FY
2023
- -
- -
116
2024
- -
- -
85
2025
- -
- -
123

Semi-annual Earnings Per Share

MYR

•

in mil. unless spec.

Year

H1
H2
FY
2023
- -
- -
-0.03
2024
- -
- -
-0.01
2025
- -
- -
-0.08

Semi-annual Dividends Per Share

MYR

•

in mil. unless spec.

Year

H1
H2
FY
2023
- -
- -
- -
2024
- -
- -
- -
2025
- -
- -
- -
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Business
VSING Limited (8292.HK) is an investment holding company engaged in providing international freight forwarding and logistics services; manufacturing and sale of plastic products and accessories for industrial and civil equipment; trading of used mobile phones; and operating an interactive social entertainment platform known as VSING that utilizes AI-driven technologies to enhance karaoke and leisure experiences for audiences and performers. The company offers air and sea freight forwarding, trucking, warehousing, and supply chain management services including pick and pack, distribution, inventory reporting, security escort, and tracking, primarily serving customers worldwide from operations in Malaysia, Vietnam, the People's Republic of China including Hong Kong, and expanding into Japan. It manufactures plastic products and molds in Vietnam while trading used mobile phones, with headquarters located at No. 42, Jalan Puteri 2/2, Bandar Puteri Puchong, 47100 Puchong, Malaysia. In recent developments, VSING Limited, formerly known as Worldgate Global Logistics Ltd, changed its name in 2025 to reflect its strategic pivot toward the growing digital entertainment sector through its VSING platform. The company opened its first flagship VSING store in Japan in August 2025, marking the start of a long-term expansion in the Japanese market, and formed a strategic alliance with a leading listed Japanese entertainment company. Additionally, in late 2025, it entered a memorandum of understanding with a renowned Hong Kong-listed hospitality group to deploy VSING interactive entertainment systems across five hotels by year-end, transforming hotel lounges with AI-driven music engagement, and opened a trading account with a Hong Kong-listed digital assets firm to integrate Web3 features into its ecosystem. On December 1, 2025, the company announced a placing of new shares to raise funds, allocating approximately 50% of net proceeds, or HK$29.6 million, to further develop the VSING business segment alongside general working capital needs.