Toppoint Holdings Announces Partnership with Premier Vietnamese Freight Company

Rhea-AI Summary

Toppoint Holdings has announced a strategic partnership with a leading Vietnamese freight company, marking a significant expansion of its import freight operations. The collaboration involves transporting goods from U.S. ports to the partner's domestic distribution points, leveraging Vietnam's position as the fourth-largest U.S. exporter with $119.6 billion in exports in 2024.

The partnership aims to optimize fleet utilization on both inbound and outbound routes. In 2024, approximately 80% of Toppoint's cargo was transported to ports, leading to fleet underutilization when picking up cargo. The company's import business has shown strong growth, with revenue increasing 30% year-over-year in the first nine months of 2024 compared to 2023.

Positive

• Import business revenue grew 30% year-over-year in first nine months of 2024
• Partnership expected to reduce cycle times and boost revenue through improved fleet utilization
• Strategic expansion into Vietnamese market, the fourth-largest U.S. exporter ($119.6B in 2024)

Negative

• Current fleet underutilization with 80% of cargo being one-way transport to ports

News Market Reaction

-9.90%

1 alert

-9.90% News Effect

On the day this news was published, TOPP declined 9.90%, reflecting a notable negative market reaction.

Data tracked by StockTitan Argus on the day of publication.

North Wales, PA, Jan. 30, 2025 (GLOBE NEWSWIRE) -- Toppoint Holdings Inc. (“Toppoint” or the “Company”) is pleased to announce a strategic collaboration with one of Vietnam’s premier freight companies. Under this partnership, Toppoint expects to transport a substantial volume of loads per week for the importer, moving goods from U.S. ports to the international freight company’s domestic distribution points in the U.S. This collaboration marks a significant expansion of Toppoint’s import freight operations and is expected to drive revenue growth while enhancing profitability by increasing the utilization of the Company’s fleet on both inbound and outbound routes to and from port.

Vietnam has emerged as a critical player in global trade, ranking as the fourth-largest exporter to the United States. In 2024, Vietnam’s exports to the U.S. reached approximately $119.6 billion, accounting for about 3% of total U.S. imports, according to Trading Economics. This growing trade relationship underscores the importance of optimizing freight operations between the two nations, an opportunity that Toppoint is strategically leveraging.

“This collaboration reinforces Toppoint’s commitment to efficiency, profitability, and service excellence,” said Leo Chan, CEO of Toppoint Holdings. “By capitalizing on our freight logistics expertise, we are optimizing operations while delivering exceptional value to our partners. A key advantage of this partnership is our ability to increase efficiency by utilizing live billable loads on both outbound and return trips. In 2024, nearly 80% of our cargo was transported to the ports, leading to underutilization of our fleet when picking up cargo from the port. By increasing the volume of freight we transport from the ports, we expect this strategic partnership to reduce cycle times, boost revenue, and significantly enhance profit margins—further strengthening our operational performance and financial growth.”

Toppoint’s import business has experienced remarkable growth, with revenue surging 30% year-over-year in the first nine months of 2024 compared to the same period in 2023. This strong upward trajectory highlights the significant expansion opportunities within both the import and export sectors, positioning Toppoint to strengthen its market presence further. As global trade flows continue to rise, the Company is well-equipped to capitalize on increasing demand, optimize logistics operations, and drive sustained profitability for its partners.

“As our import business continues its rapid growth, we see potential to scale further and seize new opportunities for international customers. This collaboration will not only strengthen our position in the global supply chain but also demonstrate our ability to execute strategic growth initiatives with precision. At Toppoint, we remain committed to expanding our logistics network, investing in advanced technology, and building partnerships that drive long-term value. With a solid foundation and a clear vision, we are excited about the opportunities ahead and remain focused on delivering exceptional service, maximizing profitability, and solidifying our reputation as a trusted leader in global trade and recycling exports,” concluded Mr. Chan.

About Toppoint Holdings Inc.

Established in 2014 and headquartered in North Wales, Pennsylvania, Toppoint Holdings Inc. specializes in the transport of wastepaper, scrap metal, and wooden logs for large waste companies, recycling centers, and commodity traders. The Company’s operations extend to major ports, including Newark, NJ, and Philadelphia, PA. With a commitment to growth and innovation, Toppoint Holdings recently expanded into the recycling export transport markets of Tampa, Jacksonville, and Miami, FL; Baltimore, MD; and Ensenada, Mexico, as of 2024. The company also provides trucking and logistics brokerage solutions for plastic and other commodities, servicing key commercial hubs across the U.S. For additional information, please go to https://toppointtrucking.com/

FORWARD-LOOKING STATEMENTS

Certain statements in this press release are “forward-looking statements” as defined under the federal securities laws. These forward-looking statements involve known and unknown risks and uncertainties and are based on the Company’s current expectations and projections about future events that the Company believes may affect its financial condition, results of operations, business strategy and financial needs. Investors can find many (but not all) of these statements by the use of words such as “believe,” “plan,” “expect,” “intend,” “should,” “seek,” “estimate”, “will”, “aim” and “anticipate”, or other similar expressions in this press release. The Company undertakes no obligation to update or revise publicly any forward-looking statements to reflect subsequent occurring events or circumstances, or changes in its expectations, except as may be required by law. Although the Company believes that the expectations expressed in these forward-looking statements are reasonable, it cannot assure you that such expectations will turn out to be correct, and the Company cautions investors that actual results may differ materially from the anticipated results and encourages investors to review other factors that may affect its future results in the Company’s registration statement and other filings with the SEC.

Investor Relations Inquiries:
Crescendo Communications, LLC
212-671-1020
TOPP@crescendo-ir.com

FAQ

What is the expected impact of Toppoint's (TOPP) Vietnamese freight partnership on revenue?

The partnership is expected to drive revenue growth and enhance profitability by increasing fleet utilization on both inbound and outbound routes to and from ports.

How much did Toppoint's (TOPP) import business grow in 2024?

Toppoint's import business revenue increased by 30% year-over-year in the first nine months of 2024 compared to the same period in 2023.

What percentage of Toppoint's (TOPP) cargo was transported to ports in 2024?

In 2024, approximately 80% of Toppoint's cargo was transported to ports, leading to fleet underutilization when picking up cargo from ports.

What was the value of Vietnamese exports to the U.S. in 2024 related to Toppoint's (TOPP) new partnership?

Vietnam's exports to the U.S. reached approximately $119.6 billion in 2024, accounting for about 3% of total U.S. imports.