QEX Logistics Limited [NZX: QEX] has today migrated its listing from the NXT market to the
NZX Main Board.
QEX listed on the NXT market in February 2018 at $0.25. Migrating to the NZX Main Board
has been a key part of the company’s growth strategy since it listed.
QEX is a cross-border, logistics and supply chain company that provides a growing number
of exporters and daigou channels a high-value trading gateway into China. It was founded in
2010 by Ronnie Xue and his wife Doreen Wu, and debuted on the Deloitte Fast 50 list in
2016, at number 42. The next year, it rose to number 13.
Since listing, the company’s market capitalisation has increased 6 fold, the number of shareholders has increased from circa 50 to over 270, and revenues have grown significantly. It has also had another recent successful round of capital raising, and upgraded its Key Operating Milestones, including its sales turnover target which has increased from $31 million in 2018 to $60 million for the current 2019 financial year.
Migrating to the NZX Main Board reflects the company’s ambitions to continue its expansion
in New Zealand and China, and continue to explore opportunities in Australia.
Congratulations to Ronnie and Doreen, the board and all the staff at QEX for yet another milestone in your very exciting journey as a publicly listed company.
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