为什么香港物流贸易交易要看现金流？
香港物流、货代、仓储和贸易服务企业可为中国买方提供跨境网络和客户基础。但这类企业利润率、应收账款和关联交易风险差异很大。
买方不能只看收入规模，必须看毛利和现金流。
估值重点
买方应关注客户合同、毛利率、应收账款周转、仓库租约、关务合规、员工、营运资金和客户集中。
如果贸易收入规模大但利润薄，估值应按真实现金利润判断。
尽职调查重点
尽调应覆盖客户合同、贸易真实性、应收账款、关务、税务、关联交易、仓储合同、保险和历史争议。
Lyndon如何协助
Lyndon可协助中国买方、香港物流贸易企业和顾问准备估值、资料室、风险清单和交易执行。
About the Author
Daniel Bae
Co-founder & CEO, Lyndon Advisory
Daniel is an investment banker with 15+ years of experience in M&A, having advised on deals worth over US$30 billion. His career spans Citi, Moelis, Nomura, and ANZ across London, Hong Kong, and Sydney. He holds a combined Commerce/Law degree from the University of New South Wales. Daniel founded Lyndon Advisory to solve the pain points in M&A, enabling bankers to focus on what matters most — delivering trusted advice to clients.
About Lyndon Advisory
Lyndon Advisory is an M&A advisory firm built for Asia Pacific. We help business owners sell their companies and investors make strategic acquisitions with senior-led execution, disciplined process management, and AI-supported buyer intelligence.
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