The number of ships arriving in Singapore and inbound visitors is gradually increasing, and demand for food supply is expected to increase steadily. Under the combined influence of various factors, the number of ships arriving in Singapore reached 8,3855 in the first eight months of 2024, an increase of 4.91% over the previous year. Due to the increase in the number of ships arriving at the port and the length of time they sail, it is expected that the number of ships arriving at the port to supplement the food supply will only increase. Meanwhile, since Singapore officially introduced visa-free entry for Chinese citizens in February 2024, there has been a significant increase in Chinese tourists. In the first three quarters of 2024, the number of visitors from mainland China reached 2.48 million, an increase of 146.3% over the previous year. According to the Singapore Tourism Board's forecast, the Singapore tourism industry is expected to continue to recover in 2024, and the number of inbound visitors is expected to reach 15 million to 16 million, while bringing in tourism revenue of S$26 billion to SGD 27.5 billion. Revenue from food wholesale and retail and catering tourism is expected to increase further, and suppliers are also expected to benefit accordingly.

The company has rich industry experience and stable relationships with suppliers and customers. It is expected to benefit from industry growth. The company has more than 20 years of industry experience in the Singapore shipping supply industry and has established stable relationships with suppliers and customers. The company operates more than 100 brands of food from around the world, including well-known FMCG brands, and has a comprehensive product inventory to meet the diverse needs of customers.

Thanks to years of business dealings, the company has established strong relationships with suppliers, so that the company can continue to supply products without major disruptions and respond to customer needs in a timely manner. The company has established strong relationships with ship supply customers and has been serving some customers for more than ten years. It is expected that as the number of ships arriving in Singapore and inbound visitors increases, the company's revenue from ship supply customers and other wholesale and retail customers is also expected to increase.

The signing of a strategic cooperation agreement with the technology sports brand Zusimeng is expected to bring new growth to the company. In recent years, with increased health awareness and the rise of sports culture, consumer demand for sneakers has continued to increase. According to Euromonitor data, from 2018 to 2023, the global sports footwear market grew from 331.2 billion US dollars to 395.5 billion US dollars, with a compound annual growth rate of 4%, and the industry maintained rapid growth. In December 2024, Cool Link reached a strategic cooperation agreement with Zusimeng Group. According to public information, Zusimeng Group is currently launching products such as sneakers, custom equipment, handbags, belts, and glasses. The Zusimeng brand has reached a scale of nearly 1,000 franchisees.

It is currently the only technology wear brand nationwide that uses franchise store service terminals to consumer customers. This strategic cooperation project is expected to enable enterprises to integrate and utilize customer advantages on the consumer side to expand the market, and then seek multi-point growth and cross-market strategic layout on the profit side.

Company profit forecasting and valuation

The company's 2024-2026 revenue is expected to be S$3,330.0593, 35.5463 and $37.948 million, respectively; EPS is 0.04, 0.06, and 0.18 HKD/share (HKD/SGD exchange rate set at 6.01), respectively. Based on reasonable valuation estimates, combined with stock price catalysts, the company is given a “recommended (first)” investment rating.

Investment risk tips

Market risk, exchange rate risk