Marvion Inc. Reports 150% Growth in Q3 2024 Year-to-Year Revenue, Announces New Warehouse Expansion

Rhea-AI Summary

Marvion Inc. (OTC: MVNC) reported strong Q3 2024 financial results, with revenue reaching $1,019,593 and gross profit of $502,341 for the first nine months of 2024, representing year-over-year increases of 150% and 123% respectively. The company successfully integrated United Warehouse and KSK Logistics, enhancing its one-stop logistics services. Additionally, Marvion announced the construction of a new 36,000-square-foot warehouse facility in Hong Kong, scheduled for completion in Q1 2025.

Positive

• Revenue increased 150% year-over-year to $1,019,593
• Gross profit grew 123% year-over-year to $502,341
• New 36,000 sq ft warehouse facility under construction, expanding storage capacity
• Successful integration of United Warehouse and KSK Logistics operations

Negative

• None.

HONG KONG, Nov. 12, 2024 /PRNewswire/ -- Marvion Inc. (OTC: MVNC) is pleased to announce its strong financial results for the period ended September 30, 2024, showcasing robust growth and momentum. For the first nine months of 2024, the company achieved a revenue of $1,019,593 and a gross profit of $502,341, reflecting year-over-year increases of 150% and 123%, respectively, compared to the same period in 2023.

Mr. Chan Sze Yu, CEO of Marvion Inc., stated:
"Despite operating in a highly competitive logistics market, our strong performance is a testament to the resilience and agility of the Marvion team. By successfully integrating United Warehouse and KSK Logistics into a unified business unit, we have strengthened our one-stop logistics and warehousing services. This strategic consolidation has not only enhanced our operational efficiency but also unlocked new growth opportunities, allowing us to achieve significant revenue and profit gains."

Mr. Chan added:
"We are excited to announce that we are currently building our third warehouse facility in Hong Kong. This new, state-of-the-art warehouse will feature two floors, each with 18,000 square feet, totaling 36,000 square feet. The facility is expected to be completed in Q1 2025 and will significantly boost our storage capacity, aligning with our strategic growth plans."

Key Highlights

1. Impressive Financial Growth: Marvion Inc. achieved a 150% year-over-year increase in revenue and a 123% increase in gross profit for the first nine months of 2024, demonstrating robust business growth.
2. Strategic Business Integration: The successful consolidation of United Warehouse and KSK Logistics has optimized the company's service offerings, enhancing customer satisfaction and market competitiveness.
3. Warehouse Expansion to Support Future Growth: Construction of a new warehouse facility is underway, with completion targeted for Q1 2025. This expansion will increase the company's storage capabilities, enabling it to better serve its clients and support future demand.
4. Market Leadership and Expansion: Leveraging strategic partnerships and cutting-edge logistics technologies, Marvion is strengthening its position in Hong Kong and across the Asia-Pacific region.

About Marvion Inc.
Marvion Inc. (OTC: MVNC) is a leading logistics and warehousing solutions provider based in Hong Kong. The company specializes in offering one-stop transport and storage services to business clients, leveraging advanced digital technologies and efficient inventory management systems.

Company Website: www.unitedksk.com
Media Contact: ir@unitedksk.com

 

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SOURCE Marvion Inc.

FAQ

What was Marvion Inc.'s (MVNC) revenue growth in Q3 2024?

Marvion Inc. reported a 150% year-over-year revenue growth, reaching $1,019,593 for the first nine months of 2024.

When will Marvion Inc.'s (MVNC) new Hong Kong warehouse be completed?

Marvion Inc.'s new 36,000-square-foot warehouse facility in Hong Kong is expected to be completed in Q1 2025.

What was Marvion Inc.'s (MVNC) gross profit for the first nine months of 2024?

Marvion Inc. reported a gross profit of $502,341 for the first nine months of 2024, representing a 123% increase year-over-year.