New Century Logistics (BVI) Limited (“NC Logistics”) was incorporated in the BVI on April 24, 2019 with limited liability and is a holding company with no material operations. Our operations are conducted in Hong Kong by our wholly-owned subsidiaries, namely (i) New Century Logistics Company Limited, (“NCL (HK)”) a company incorporated in Hong Kong with limited liability, (ii) GLF Cargo Services Limited (“GLF”), a Hong Kong company with limited liability, wholly-owned by NCL (HK), and (iii) Win-Tec Transportation Company Limited (“Win-Tec”), a Hong Kong company with limited liability, and a wholly-owned by NCL (HK). The Company acquired the NCL (HK) on May 10, 2019 while NCL (HK) acquired GLF and Win-Tec on September 26, 2019.
