Dexiang Group Co., Ltd. submitted an application for listing to the HKEx with co-sponsors JPMorgan Chase & Co and China Merchants International, according to documents filed by the Hong Kong Stock Exchange on October 28.
Dexiang Group is one of the most profitable container shipping companies focusing on the leading and fast-growing container shipping companies in Asia.
As of June 30, 2022, the company's container shipping network covers 22 countries and regions, 56 major ports and 45 routes. It has an extensive network in the Asian market.
As of June 30, 2022, the company operates 41 routes covering 15 countries and regions. According to the Deluri report, in August 2022, the company was one of the three major participants providing extensive port coverage on these trade routes in terms of weekly port calls in the Greater Bay area, Japan, the Philippines and Oceania.
The company's revenues for the years ended December 31, 2019, 2020 and 2021 were $713 million, $810 million and $1.837 billion, respectively, with gross margins of 13.1%, 23.7% and 50.7%, respectively.