The company has already started expanding into hub management, last-mile logistics, air freight transhipment and technology solutions. This means Evocom has the potential to gradually evolve from a manpower-focused business into a more integrated e-commerce logistics platform.

With e-commerce logistics demand still offering long-term growth potential, if management can successfully broaden its customer base, reduce reliance on a single major customer, and scale up its higher value-added logistics businesses after listing, I believe the company still has meaningful room for growth.