Group 1 - The company, Eagle Logistics (01442), reported a revenue of 215 million Malaysian Ringgit for the six months ending June 30, 2025, representing a year-on-year decrease of 8.88% [1] - The company's profit for the same period was 16.273 million Malaysian Ringgit, which is a year-on-year decline of 20.61% [1] - The basic earnings per share for the company stood at 0.79 Malaysian cents [1]

[Condensed Consolidated Performance Overview](index=1&type=section&id=Condensed%20Consolidated%20Performance%20Overview) This section presents a concise overview of the Group's interim financial performance, including profit or loss and financial position statements [Condensed Consolidated Statement of Profit or Loss and Other Comprehensive Income](index=1&type=section&id=Condensed%20Consolidated%20Statement%20of%20Profit%20or%20Loss%20and%20Other%20Comprehensive%20Income) For the six months ended June 30, 2025, the Group experienced an **8.9%** revenue decline and **20.6%** profit decrease, despite a gross margin improvement to **20.9%** Condensed Consolidated Statement of Profit or Loss and Other Comprehensive Income (thousand Ringgit) | Metric | June 30, 2025 (thousand Ringgit) | June 30, 2024 (thousand Ringgit) | Year-on-Year Change (%) | | :--- | :--- | :--- | :--- | | Revenue | 214,655 | 235,564 | -8.9% | | Cost of services rendered and goods sold | (169,733) | (189,642) | -10.5% | | Gross Profit | 44,922 | 45,922 | -2.2% | | Other income | 1,333 | 1,097 | +21.5% | | Administrative and other operating expenses | (20,162) | (16,828) | +19.8% | | Finance costs | (6,725) | (5,767) | +16.6% | | Profit before tax | 19,484 | 24,673 | -21.1% | | Income tax expense | (3,211) | (4,176) | -23.1% | | Profit for the period | 16,273 | 20,497 | -20.6% | | Profit for the period attributable to owners of the Company | 16,262 | 19,230 | -15.4% | | Basic and diluted earnings per share | 0.79 Ringgit sen | 0.93 Ringgit sen | -15.1% | - Gross profit margin increased from **19.5%** in the prior year to **20.9%** in 2025, indicating improved cost control or service pricing efficiency[41](index=41&type=chunk) [Condensed Consolidated Statement of Financial Position](index=3&type=section&id=Condensed%20Consolidated%20Statement%20of%20Financial%20Position) As of June 30, 2025, the Group's total assets slightly decreased, non-current assets remained stable, and net current assets reduced, with the gearing ratio maintained at **0.68** Condensed Consolidated Statement of Financial Position (thousand Ringgit) | Metric | June 30, 2025 (thousand Ringgit) | December 31, 2024 (thousand Ringgit) | | :--- | :--- | :--- | | Non-current assets | 475,018 | 471,854 | | Current assets | 216,470 | 231,433 | | Current liabilities | 122,319 | 118,740 | | Net current assets | 94,151 | 112,693 | | Total assets less current liabilities | 569,169 | 584,547 | | Non-current liabilities | 213,175 | 221,562 | | Net assets | 355,994 | 362,985 | | Total equity | 355,994 | 362,985 | | Bank balances and cash | 30,245 | 41,878 | | Interest-bearing borrowings | 118,404 | 116,899 | | Gearing ratio | 0.68 | 0.68 | - Bank balances and cash decreased from **41,878 thousand Ringgit** as of December 31, 2024, to **30,245 thousand Ringgit** as of June 30, 2025[46](index=46&type=chunk) - The weighted average effective annual interest rate for interest-bearing borrowings slightly increased from approximately **5.01%** as of December 31, 2024, to approximately **5.05%** as of June 30, 2025[46](index=46&type=chunk) [Notes to the Condensed Consolidated Financial Statements](index=5&type=section&id=Notes%20to%20the%20Condensed%20Consolidated%20Financial%20Statements) This section details the accounting policies, segment information, revenue disaggregation, and other financial notes for the interim period [1. Basis of Preparation](index=5&type=section&id=1.%20Basis%20of%20Preparation) The interim financial statements are prepared in accordance with IAS 34 and HKEX Listing Rules, using the historical cost convention - The interim financial statements are presented in **Malaysian Ringgit**, with all amounts rounded to the nearest thousand[7](index=7&type=chunk) - Management's judgments, estimates, and assumptions made during preparation are consistent with the 2024 financial statements, and actual results may differ[8](index=8&type=chunk) [2. Principal Accounting Policies](index=5&type=section&id=2.%20Principal%20Accounting%20Policies) Accounting policies and calculation methods for this interim period are consistent with the 2024 financial statements, with adopted IFRS amendments having no significant impact - Adopted amendments include IAS 1 (Classification of Liabilities), IFRS 16 (Sale and Leaseback), and IAS 7/IFRS 7 (Supplier Finance Arrangements)[11](index=11&type=chunk) - Directors anticipate no significant impact on the Group's results from new/amended IFRS adoption in future periods[12](index=12&type=chunk) [3. Segment Information](index=6&type=section&id=3.%20Segment%20Information) The Group reports revenue and results across five operating segments: integrated freight forwarding, logistics center, land transport, flexibag solutions, and 4PL services, with segment assets and liabilities not regularly reviewed - The Group's key operating decision maker, the Company's Executive Director, focuses resource allocation and segment performance assessment on the type of goods delivered or services provided[13](index=13&type=chunk) - Segment results are measured by gross profit generated by each segment, excluding unallocated other income, administrative expenses, and finance costs[14](index=14&type=chunk) [3.1 Overview of Operating Segments](index=6&type=section&id=3.1%20Overview%20of%20Operating%20Segments) This section outlines the five reportable operating segments of the Group - The Group's five reportable operating segments include integrated freight forwarding services, logistics center and related services, land transport services, flexibag solutions and related services, and fourth-party logistics (4PL) services[17](index=17&type=chunk) [3.2 Segment Revenue and Performance Analysis](index=7&type=section&id=3.2%20Segment%20Revenue%20and%20Performance%20Analysis) This section provides a detailed breakdown of revenue and performance by each operating segment Revenue and Performance by Operating Segment (thousand Ringgit) | Segment | June 30, 2025 Revenue (thousand Ringgit) | June 30, 2024 Revenue (thousand Ringgit) | June 30, 2025 Segment Performance (thousand Ringgit) | June 30, 2024 Segment Performance (thousand Ringgit) | | :--- | :--- | :--- | :--- | :--- | | Integrated freight forwarding services | 44,848 | 53,242 | 9,061 | 12,811 | | Logistics center and related services | 55,667 | 45,163 | 8,318 | 5,381 | | Land transport services | 31,297 | 36,992 | 1,637 | 1,439 | | Flexibag solutions and related services | 76,540 | 94,573 | 22,721 | 23,449 | | Fourth-party logistics (4PL) services | 6,303 | 5,594 | 3,185 | 2,842 | | **Total** | **214,655** | **235,564** | **44,922** | **45,922** | - Revenue from logistics center and related services grew by **23.3%**, with segment gross profit increasing by **54.6%**, driven by higher demand for yard and warehousing services[42](index=42&type=chunk) - Revenue from flexibag solutions and related services decreased by **19.1%**, primarily due to reduced cargo volume from a major customer impacted by external supply chain disruptions[44](index=44&type=chunk) [3.3 Geographical Revenue Analysis](index=9&type=section&id=3.3%20Geographical%20Revenue%20Analysis) This section analyzes the Group's revenue distribution based on customer location Revenue by Customer Location (thousand Ringgit) | Region | June 30, 2025 (thousand Ringgit) | June 30, 2024 (thousand Ringgit) | | :--- | :--- | :--- | | Malaysia | 124,048 | 123,256 | | Singapore | 21,103 | 38,798 | | Indonesia | 14,224 | 18,487 | | South Korea | 9,274 | 10,349 | | Spain | 7,737 | 6,600 | | Thailand | 6,562 | 6,885 | | Belgium | 4,759 | 5,095 | | China | 2,583 | 140 | | Vietnam | 1,355 | 2,065 | | Netherlands | 1,319 | 2,046 | | Other | 21,691 | 21,843 | | **Total** | **214,655** | **235,564** | - Malaysia remains the primary revenue source, with significant revenue growth in the **China market**, while **Singapore** and **Indonesia** markets experienced revenue declines[21](index=21&type=chunk) [3.4 Major Customer Information](index=9&type=section&id=3.4%20Major%20Customer%20Information) This section provides information on the Group's major customers - For the six months ended June 30, 2025, and 2024, no single external customer contributed **10%** or more of the Group's total revenue[22](index=22&type=chunk) [4. Revenue Disaggregation](index=10&type=section&id=4.%20Revenue%20Disaggregation) The Group's revenue primarily derives from flexibag solutions, warehousing and container yard services, sea freight, and land transport, with flexibag revenue recognized at a point in time and other services over time Revenue from Contracts with Customers by Service Type (thousand Ringgit) | Service Type | June 30, 2025 (thousand Ringgit) | June 30, 2024 (thousand Ringgit) | | :--- | :--- | :--- | | Flexibag solutions | 76,540 | 94,573 | | Warehousing and container yard services | 53,545 | 41,314 | | Sea freight services | 25,020 | 31,383 | | Land transport income | 14,038 | 16,832 | | Land feeder services | 11,614 | 13,675 | | Freight forwarding services | 9,532 | 9,961 | | Non-vessel operating common carrier (NVOCC) services | 8,137 | 9,861 | | Fourth-party logistics (4PL) services | 6,303 | 5,594 | | Land bridge services | 5,645 | 6,485 | | Air freight services | 2,159 | 2,037 | | **Total** | **212,533** | **231,715** | - Revenue from other sources primarily includes warehouse rental income from logistics center and related services, amounting to **2,122 thousand Ringgit** in 2025 and **3,849 thousand Ringgit** in 2024[23](index=23&type=chunk) [5. Components of Profit Before Tax](index=11&type=section&id=5.%20Components%20of%20Profit%20Before%20Tax) Profit before tax is influenced by finance costs, staff costs, cost of inventories, and depreciation, with finance costs increasing by **16.6%** and staff costs by **5.6%** year-on-year Items Deducted From/Credited To Profit Before Tax (thousand Ringgit) | Item | June 30, 2025 (thousand Ringgit) | June 30, 2024 (thousand Ringgit) | | :--- | :--- | :--- | | Finance costs | 6,725 | 5,767 | | - Interest on bank overdrafts | 123 | 161 | | - Interest on interest-bearing borrowings | 2,645 | 2,909 | | - Interest on lease liabilities | 3,957 | 2,697 | | Total staff costs | 34,478 | 32,656 | | Cost of inventories | 53,820 | 71,124 | | Depreciation | 14,612 | 13,211 | | Net exchange (gain) loss | (376) | 640 | | Gain on disposal of property, plant and equipment | (225) | (351) | - Interest on lease liabilities significantly increased from **2,697 thousand Ringgit** in the prior year to **3,957 thousand Ringgit** in 2025[25](index=25&type=chunk) - Cost of inventories decreased significantly by **24.3%** year-on-year, from **71,124 thousand Ringgit** to **53,820 thousand Ringgit**[26](index=26&type=chunk) [6. Income Tax Expense](index=12&type=section&id=6.%20Income%20Tax%20Expense) The Group's income tax expense primarily comprises Malaysian corporate income tax at a standard rate of **24%**, with some Malaysian subsidiaries enjoying investment tax allowances and Cayman Islands/BVI entities being exempt Income Tax Expense (thousand Ringgit) | Item | June 30, 2025 (thousand Ringgit) | June 30, 2024 (thousand Ringgit) | | :--- | :--- | :--- | | Malaysian corporate income tax | 3,211 | 4,176 | - Infinity Logistics & Transport Sdn Bhd. (MY) has been granted an investment tax allowance since September 9, 2021, allowing it to offset **70%** of its statutory income[28](index=28&type=chunk) - Entities registered in Labuan, Malaysia, are subject to corporate income tax at a rate of **3%**, while Spanish entities are taxed at **25%**[28](index=28&type=chunk)[29](index=29&type=chunk) [7. Earnings Per Share](index=13&type=section&id=7.%20Earnings%20Per%20Share) For the six months ended June 30, 2025, basic and diluted earnings per share attributable to owners of the Company decreased to **0.79 Ringgit sen** from **0.93 Ringgit sen** in the prior year Earnings Per Share Calculation (thousand Ringgit) | Metric | June 30, 2025 | June 30, 2024 | | :--- | :--- | :--- | | Profit for the period attributable to owners of the Company (thousand Ringgit) | 16,262 | 19,230 | | Weighted average number of ordinary shares | 2,064,000,000 | 2,064,000,000 | | Basic and diluted earnings per share (Ringgit sen) | 0.79 | 0.93 | - Diluted earnings per share are the same as basic earnings per share due to the absence of potential dilutive ordinary shares[31](index=31&type=chunk) [8. Dividends](index=14&type=section&id=8.%20Dividends) The Board of Directors does not recommend the payment of an interim dividend for the six months ended June 30, 2025, and 2024 - The Company's directors do not recommend the payment of an interim dividend for the six months ended June 30, 2025, and 2024[32](index=32&type=chunk) [9. Trade and Other Receivables](index=14&type=section&id=9.%20Trade%20and%20Other%20Receivables) As of June 30, 2025, total trade and other receivables decreased to **147,816 thousand Ringgit**, with trade receivables slightly increasing while other receivables, particularly prepayments, significantly reduced Trade and Other Receivables (thousand Ringgit) | Item | June 30, 2025 (thousand Ringgit) | December 31, 2024 (thousand Ringgit) | | :--- | :--- | :--- | | Trade receivables (net) | 97,255 | 95,059 | | Other receivables | 50,561 | 59,793 | | - Deposits paid | 3,377 | 3,429 | | - Payments made on behalf of a 4PL customer | 41,695 | 43,428 | | - Prepayments | 4,444 | 11,888 | | **Total** | **147,816** | **154,852** | Ageing Analysis of Trade Receivables (thousand Ringgit) | Ageing | June 30, 2025 (thousand Ringgit) | December 31, 2024 (thousand Ringgit) | | :--- | :--- | :--- | | Within 30 days | 40,814 | 37,326 | | 31 to 90 days | 26,181 | 51,493 | | Over 90 days | 32,608 | 8,538 | | **Total** | **99,603** | **97,357** | | Less: Loss allowance | (2,348) | (2,298) | - Trade receivables over **90 days** significantly increased from **8,538 thousand Ringgit** as of December 31, 2024, to **32,608 thousand Ringgit** as of June 30, 2025, indicating a potential extension in the collection cycle[37](index=37&type=chunk) [10. Trade and Other Payables](index=15&type=section&id=10.%20Trade%20and%20Other%20Payables) As of June 30, 2025, total trade and other payables decreased to **81,865 thousand Ringgit**, with a notable reduction in salaries and bonuses payable within other payables Trade and Other Payables (thousand Ringgit) | Item | June 30, 2025 (thousand Ringgit) | December 31, 2024 (thousand Ringgit) | | :--- | :--- | :--- | | Trade payables | 40,540 | 39,736 | | Other payables | 41,325 | 47,635 | | - Salaries and other benefits payable | 795 | 1,265 | | - Bonuses payable | 7,977 | 10,463 | | - Other accrued expenses and other payables | 25,001 | 28,682 | | **Total** | **81,865** | **87,371** | Ageing Analysis of Trade Payables (thousand Ringgit) | Ageing | June 30, 2025 (thousand Ringgit) | December 31, 2024 (thousand Ringgit) | | :--- | :--- | :--- | | Within 30 days | 28,771 | 28,513 | | 31 to 90 days | 3,648 | 4,826 | | Over 90 days | 8,121 | 6,397 | | **Total** | **40,540** | **39,736** | - The maximum credit period for trade payables is **30 days**[40](index=40&type=chunk) [11. Share Capital](index=16&type=section&id=11.%20Share%20Capital) As of June 30, 2025, the Company's authorized share capital is **HKD 150,000,000**, and issued and fully paid share capital is **HKD 20,640,000**, equivalent to **10,865,975 thousand Ringgit**, unchanged from December 31, 2024 Share Capital Information | Item | Number of Shares | Hong Kong Dollar | Ringgit Equivalent Amount (thousand Ringgit) | | :--- | :--- | :--- | :--- | | Authorized share capital (ordinary shares of HKD 0.01 each) | 15,000,000,000 | 150,000,000 | 80,213,900 | | Issued and fully paid share capital (ordinary shares of HKD 0.01 each) | 2,064,000,000 | 20,640,000 | 10,865,975 | - The Company's share capital structure remained unchanged for the six months ended June 30, 2025[46](index=46&type=chunk) [Management Discussion and Analysis and Other Information](index=17&type=section&id=Management%20Discussion%20and%20Analysis%20and%20Other%20Information) This section provides management's review of financial performance, business operations, future outlook, treasury policies, and corporate governance [Financial Review](index=17&type=section&id=Financial%20Review) For the six months ended June 30, 2025, the Group's revenue and gross profit decreased year-on-year, but gross margin improved, while net profit for the period declined by **20.6%** Key Financial Indicators Comparison (thousand Ringgit) | Metric | June 30, 2025 (thousand Ringgit) | June 30, 2024 (thousand Ringgit) | Year-on-Year Change (%) | | :--- | :--- | :--- | :--- | | Revenue | 214,655 | 235,564 | -8.9% | | Gross Profit | 44,922 | 45,922 | -2.2% | | Gross Profit Margin | 20.9% | 19.5% | +1.4 percentage points | | Net Profit | 16,273 | 20,497 | -20.6% | [Business Review](index=17&type=section&id=Business%20Review) The Group generates revenue through a diversified portfolio of integrated logistics services, with significant growth in logistics center services and declines in integrated freight forwarding and flexibag solutions - Revenue from logistics center and related services grew by **23.3%** to **55,667 thousand Ringgit**, with gross profit increasing by **54.6%** to **8,318 thousand Ringgit**, driven by higher demand for yard and warehousing services[42](index=42&type=chunk) - Land transport services revenue decreased by **15.4%** to **31,297 thousand Ringgit**, but gross profit increased by **13.8%** to **1,637 thousand Ringgit**, benefiting from improved margins on other customer orders[42](index=42&type=chunk) - Integrated freight forwarding services revenue decreased by **15.8%** to **44,848 thousand Ringgit**, with gross profit declining by **29.3%** to **9,061 thousand Ringgit**, mainly due to reduced sea freight volume[43](index=43&type=chunk) - Revenue from flexibag solutions and related services decreased by **19.1%** to **76,540 thousand Ringgit**, primarily impacted by external supply chain disruptions[44](index=44&type=chunk) - Fourth-party logistics (4PL) services revenue increased by **12.7%** to **6,303 thousand Ringgit**, with gross profit growing by **12.1%** to **3,185 thousand Ringgit**[44](index=44&type=chunk) [Outlook](index=18&type=section&id=Outlook) For the second half of 2025, the Group aims to drive sustainable development, strengthen ESG principles, enhance employee skills and workplace safety, and reinforce its governance structure, viewing market volatility and tariff changes as opportunities for adaptation and innovation - The Group integrates quantifiable and responsible Environmental, Social, and Governance (ESG) principles into its operations and decision-making as a core value for sustainable development[45](index=45&type=chunk) - Through collaboration with the Human Resources Development Corporation of Malaysia, the Group actively enhances employee skills and retraining, while strengthening its commitment to workplace safety[45](index=45&type=chunk) - Despite tariff changes affecting the logistics industry, the Group's cargo volume continues to grow, and it is prepared to meet challenges and seize opportunities for sustained growth[45](index=45&type=chunk) [Treasury Policy](index=19&type=section&id=Treasury%20Policy) The Group maintains a prudent financial and surplus fund management approach, ensuring a healthy liquidity position and minimizing credit risk through continuous credit assessment, with the Board closely monitoring liquidity to meet financing needs - The Group's working capital is primarily funded by internal cash flows and bank facilities provided by Malaysian banking partners[46](index=46&type=chunk) - The Directors believe that the Group's cash position, value of current assets, future earnings, and available bank facilities are sufficient to meet working capital requirements[46](index=46&type=chunk) [Hedging and Foreign Exchange Risk](index=19&type=section&id=Hedging%20and%20Foreign%20Exchange%20Risk) The Group's transactions, assets, and liabilities are primarily denominated in Ringgit, US Dollar, Euro, and Hong Kong Dollar, and it does not use financial instruments for hedging due to insignificant anticipated exchange rate risk - For the six months ended June 30, 2025, the Group did not use financial instruments for hedging purposes, nor did it use any financial instruments to hedge foreign exchange risk[48](index=48&type=chunk) - The Directors and senior management will continue to monitor foreign exchange risk and consider using applicable derivative instruments when necessary[48](index=48&type=chunk) [Pledged Assets](index=20&type=section&id=Pledged%20Assets) As of June 30, 2025, the Group's leasehold land, buildings, and machinery with a total carrying amount of approximately **127,960 thousand Ringgit** have been pledged to secure banking facilities Carrying Amount of Pledged Assets (thousand Ringgit) | Date | Carrying Amount (thousand Ringgit) | | :--- | :--- | | June 30, 2025 | 127,960 | | December 31, 2024 | 137,942 | [Contingent Liabilities](index=20&type=section&id=Contingent%20Liabilities) As of June 30, 2025, the Group has no contingent liabilities - As of June 30, 2025, the Group had no contingent liabilities[50](index=50&type=chunk) [Material Events After Reporting Date](index=20&type=section&id=Material%20Events%20After%20Reporting%20Date) Except as disclosed elsewhere in this announcement, no material events affecting the Group have occurred after June 30, 2025, and up to the date of this announcement - As of the date of this announcement, no material events affecting the Group have occurred[51](index=51&type=chunk) [Employee Information](index=20&type=section&id=Employee%20Information) As of June 30, 2025, the Group employed **1,128** individuals, with staff costs totaling approximately **34,478 thousand Ringgit**, committed to attracting and retaining top talent through competitive remuneration and bonuses Employee Count and Costs | Metric | June 30, 2025 | June 30, 2024 | | :--- | :--- | :--- | | Total Employees | 1,128 | 1,035 | | Staff Costs (thousand Ringgit) | 34,478 | 32,656 | - The Group has employees in **Malaysia**, **Spain**, and **Singapore**[52](index=52&type=chunk) - The Group offers competitive remuneration packages and bonuses based on qualifications and performance to attract and retain talent[52](index=52&type=chunk) [Interim Dividends](index=20&type=section&id=Interim%20Dividends) The Board of Directors does not recommend the payment of an interim dividend for the six months ended June 30, 2025 - The Board of Directors does not recommend the payment of an interim dividend for the six months ended June 30, 2025[53](index=53&type=chunk) [Corporate Governance](index=20&type=section&id=Corporate%20Governance) The Company is committed to best corporate governance practices and complies with the CG Code in Appendix C1 Part 2 of the HKEX Listing Rules, with some deviations regarding independent non-executive director attendance, chairman/CEO roles, board meeting frequency, and company secretary contact disclosure - Independent Non-Executive Director Datin Paduka TPr. Noraini Binti Roslan was unable to attend the Annual General Meeting on May 20, 2025, due to other commitments, deviating from Code Provision C.1.5[55](index=55&type=chunk) - Dato' Seri Chan Kong Yew holds both Chairman and Chief Executive Officer roles, deviating from Code Provision C.2.1, but the Board believes this arrangement is in the Group's best interest[55](index=55&type=chunk) - Only one regular Board meeting was held during the period, deviating from Code Provision C.5.1's requirement of at least four meetings annually, as the company does not announce quarterly results[56](index=56&type=chunk) - Mr. Lau Wai Piu, the Company Secretary, is an external service provider, and Dato' Seri Chan is designated as the contact person, complying with Code Provision C.6.1[56](index=56&type=chunk) - The Company's Directors confirm full compliance with the Model Code for Securities Transactions by Directors of Listed Issuers during the relevant period[58](index=58&type=chunk) [Audit Committee](index=22&type=section&id=Audit%20Committee) The Company's Audit Committee, comprising three independent non-executive directors chaired by Dato' Che Nazli Binti Jaapar, assists the Board in corporate governance, financial reporting, and internal control, and has reviewed these interim results - The Audit Committee's primary responsibilities include maintaining auditor relations, reviewing financial information, and overseeing the financial reporting system[59](index=59&type=chunk) - Audit Committee Chairman Dato' Che Nazli Binti Jaapar possesses the appropriate professional accounting qualifications and financial management expertise as required by the Listing Rules[59](index=59&type=chunk) [Share Transactions](index=22&type=section&id=Share%20Transactions) During the period, neither the Company nor its subsidiaries purchased, sold, or redeemed any of the Company's listed securities, and no treasury shares were held as of June 30, 2025 - During the relevant period, neither the Company nor any of its subsidiaries purchased, sold, or redeemed any of the Company's listed securities[60](index=60&type=chunk) - As of June 30, 2025, the Company held no treasury shares[60](index=60&type=chunk) [Acknowledgements](index=22&type=section&id=Acknowledgements) The Board of Directors extends sincere gratitude to all employees, shareholders, and investors - The Board of Directors expresses sincere gratitude to all employees for their dedication and contributions to the Group, and also thanks shareholders and investors for their strong support[61](index=61&type=chunk) [Board of Directors](index=22&type=section&id=Board%20of%20Directors) The Company's Board of Directors consists of four executive directors and three independent non-executive directors - Executive Directors include Dato' Seri Chan Kong Yew (Chairman), Dato' Kwan Siew Deeg, Datin Seri Lo Shing Ping, and Mr. Yap Sheng Feng[63](index=63&type=chunk) - Independent Non-Executive Directors include Mr. Lee Chee Keong, Datin Paduka TPr. Noraini Binti Roslan, and Dato' Che Nazli Binti Jaapar[63](index=63&type=chunk)

Core Viewpoint - Eagle Logistics (01442.HK) will hold a board meeting on August 26, 2025, to consider and approve the interim results for the six months ending June 30, 2025, and to discuss the potential distribution of an interim dividend, if any [1] Group 1 - The board meeting is scheduled for August 26, 2025 [1] - The meeting will focus on the interim performance of the company and its subsidiaries for the six months ending June 30, 2025 [1] - The company will also consider the distribution of an interim dividend during this meeting [1]

鷹 輝物 流 有 限 公 司 主席 兼 執行 董 事 Dato' Seri Chan Kong Yew (於 開 曼 群 島 註 冊 成 立 之 有 限 公 司 ) (股 份 代 號 : 1442) 董 事 會 召 開 日 期 鷹輝 物 流有 限 公 司 （「本 公 司 」 ） 董 事（ 「董 事 」 ） 會 （「董 事 會 」 ） 宣 佈， 本 公司 將 於 二 零二 五 年 八 月 二十 六 日 （ 星期 二 ）舉 行董 事 會會 議 ，以 （其 中 包括 ） 考 慮 及批 准 本 公 司 及其 附 屬 公 司截 至 二零 二五 年 六月 三 十日 止六 個 月期 間 的 中 期業 績 ， 以 及 考慮 派 發 中 期股 息 （如 有） 。 承董 事 會命 香港交易及結算所有限公司及香港聯合交易所有限公司對本公告的內容概不負責，對其準確性或完整性 亦不發表任何聲明，並明確表示，概不對因本公告全部或任何部分內容而產生或因倚賴該等內容而引致 的任何損失承擔任何責任。 INFINITY LOGISTICS AND TRANSPORT VENTURES LIMITED 鷹 輝 物 流 有 限 公 司 香港 ， 二 ...

股份發行人及根據《上市規則》第十九B章上市的香港預託證券發行人的證券變動月報表 截至月份: 2025年7月31日 狀態: 新提交 致：香港交易及結算所有限公司 第 1 頁 共 10 頁 v 1.1.1 FF301 FF301 公司名稱: 鷹輝物流有限公司 呈交日期: 2025年8月1日 I. 法定/註冊股本變動 | 1. 股份分類 | 普通股 | 股份類別 | 不適用 | | | 於香港聯交所上市 (註1) | 是 | | | | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | | 證券代號 (如上市) | 01442 | 說明 | 普通股 | | | | | | | | | | 法定/註冊股份數目 | | | 面值 | | | 法定/註冊股本 | | | 上月底結存 | | | 15,000,000,000 | HKD | | 0.01 | HKD | | 150,000,000 | | 增加 / 減少 (-) | | | | | | | HKD | | | | 本月底結存 | | | 15,000,000,000 | HKD | | ...

Financial Performance - The company recorded revenue of approximately MYR 475,821,000 for the fiscal year 2024, an increase of about 28.2% compared to MYR 371,105,000 in fiscal year 2023[14] - Gross profit was approximately MYR 92,858,000, reflecting a growth of about 34.7% from MYR 68,941,000 in the previous year, with a gross margin of approximately 19.5%[14] - Net profit reached approximately MYR 31,554,000, up from MYR 18,379,000 in fiscal year 2023[14] - Operating costs totaled approximately 382,963,000 MYR, an increase of about 26.7% compared to the previous year[23] - The company’s capital expenditure for the period was approximately 112,515,000 MYR, significantly higher than 16,326,000 MYR in 2023[30] Segment Performance - The container liquid bag segment saw the highest growth at approximately 62.1%, primarily due to the acquisition of a subsidiary in December 2023[14] - The logistics center segment grew by approximately 19.7%, driven by higher demand for transportation services and the launch of new yard operations[15] - The integrated freight forwarding segment increased by about 17.2% due to rising customer demand for maritime services[15] - The land transportation segment recorded a growth of approximately 3.9% due to increased demand for land branch services[15] - The fourth-party logistics segment experienced a decline of about 6.5%, attributed to reduced customer shipments within this service category[16] Employee Development and Training - The company conducted 2,066 training hours and held 51 training courses and workshops to prepare employees for the digital transformation in the industry[17] - The company provided internal and external training on logistics, customer service, safety, and quality management to enhance employee skills[94] - The company has established a robust "Learning and Development Policy" to enhance employee skills and knowledge, ensuring equal training opportunities for all employees[110] - The total number of employees increased from 816 in 2023 to 992 in 2024, representing a growth of 21.6%[100] - The average training hours per employee in 2024 were 4.09 hours for males and 13.84 hours for females, showing an increase for females from 8.52 hours in 2023[113] Sustainability and Environmental Initiatives - The group aims for sustainable development as a long-term goal, integrating climate-related and ESG factors into its strategic planning[37] - The company aims to reduce air pollutants, greenhouse gas emissions, and waste generation density based on 2021 as the baseline year[59] - The company is actively implementing measures to enhance energy efficiency and reduce emissions, including the installation of solar panels on building rooftops[61] - The company has established a waste control and recycling program, including a bulb recycling system[63] - The company has implemented climate risk assessments to identify and mitigate climate-related risks, including acute risks from extreme weather events[89] Corporate Governance - The company adheres to the corporate governance code as per the Hong Kong Stock Exchange listing rules during the reporting period, with deviations noted regarding attendance at the annual general meeting[151] - The board consists of a mix of executive, non-executive, and independent non-executive directors, ensuring compliance with the requirement for at least three independent non-executive directors[156] - The company has adopted anti-corruption and whistleblowing policies to maintain integrity and ethical conduct within its operations[153] - The board held a total of 2 meetings for the Board of Directors and 2 for the Audit Committee during the reporting period[163] - The company has established three committees: the Audit Committee, the Remuneration Committee, and the Nomination Committee, in accordance with corporate governance practices[174] Community Engagement and Social Responsibility - Charitable donations made by the company amounted to approximately 600,000 MYR during the reporting period, compared to 161,000 MYR in 2023[138] - The Dapur Infinity project has distributed over 23,000 food packages to various charitable organizations since its launch in 2021[140] - The company is collaborating with local organizations to provide safe drinking water to the Kg Pos Hau village, benefiting 159 residents[144] - The company emphasizes the importance of corporate social responsibility and aims to build long-term relationships with stakeholders[138] - The company has committed to expanding the scope of anti-corruption training data disclosure in the future[137] Risk Management - The company has a risk management system in place, which is reviewed for effectiveness regularly[177] - The board believes that the risk management and internal control systems during the reporting period were adequate and effective[191] - The company encourages shareholders to attend general meetings, providing a platform for communication between shareholders and the board[196] - The independent consultant's report on risk management and internal control measures has been presented to the audit committee and the board for review[191] - The company emphasizes that the risk management and internal control systems are designed to manage risks rather than eliminate them[191]

Financial Performance - Total revenue for the year ended December 31, 2024, was RM 475,821,000, representing a 28.2% increase from RM 371,105,000 in 2023[3] - Gross profit for the same period was RM 92,858,000, up 34.7% from RM 68,941,000 in 2023[3] - Net profit for the year was RM 31,554,000, an increase of 71.7% compared to RM 18,379,000 in 2023[3] - Basic and diluted earnings per share rose to RM 1.43 from RM 0.89, reflecting a 60.7% increase[4] - Total revenue for the fiscal year ending December 31, 2024, reached 475,821 thousand MYR, a significant increase from 371,105 thousand MYR in the previous year, representing a growth of approximately 28.2%[26] - The company reported a net profit of 31,554 thousand MYR for the fiscal year ending December 31, 2024, compared to 18,379 thousand MYR in the previous year, indicating a year-over-year increase of approximately 71.6%[21][23] - The company reported a pre-tax profit of 12,630,000 MYR in 2024, up from 6,136,000 MYR in 2023, reflecting a growth of 106.5%[32] - The company recognized a net gain of 750,000 MYR from the sale of properties, plants, and equipment in 2024[30] Assets and Liabilities - Total assets as of December 31, 2024, amounted to RM 816,417,000, compared to RM 754,955,000 in 2023, indicating a growth of 8.1%[6] - Non-current assets increased to RM 471,854,000 from RM 419,298,000, a rise of 12.5%[6] - Current liabilities decreased to RM 118,740,000 from RM 131,367,000, a reduction of 9.6%[6] - The company's equity totalled RM 362,985,000, up from RM 339,444,000, marking a 6.9% increase[7] - The company recorded trade receivables from third parties of 97,357,000 MYR in 2024, up from 72,671,000 MYR in 2023, with a provision for losses of 2,298,000 MYR[40] - Total trade and other payables amounted to 87,371,000 MYR in 2024, compared to 78,249,000 MYR in 2023[47] - The group’s debt ratio was approximately 0.68 as of December 31, 2024, slightly down from 0.69 in 2023[62] Revenue Breakdown - The revenue from Malaysia accounted for the largest share at 263,397 thousand MYR, up from 214,051 thousand MYR in the previous year, reflecting a growth of about 23%[26] - The segment performance showed that the Integrated Freight Forwarding Services generated a profit of 23,824 thousand MYR, while the Fourth Party Logistics Services contributed 6,379 thousand MYR, leading to a total segment profit of 92,858 thousand MYR[21] - Revenue from logistics center and related services increased by approximately 19.7% to about 98,625,000 MYR, driven by higher demand for transportation services and new yard operations[56] - Revenue from container liquid bag solutions surged to 185,290,000 MYR in 2024, up from 114,300,000 MYR in 2023, representing a 62.1% increase[30] - Sea freight service revenue increased to 60,448,000 MYR in 2024 from 43,664,000 MYR in 2023, a growth of 38.4%[29] - Air freight service revenue decreased to 3,927,000 MYR in 2024 from 6,727,000 MYR in 2023, a decline of 41.7%[29] Costs and Expenditures - Employee costs rose to 73,571,000 MYR in 2024 from 54,668,000 MYR in 2023, an increase of 34.4%[31] - Operating costs totaled approximately 382,963,000 MYR, an increase of about 26.7% compared to the previous year[58] - The company incurred total borrowing costs of 13,011,000 MYR in 2024, compared to 12,245,000 MYR in 2023, an increase of 6.3%[31] - Capital expenditures amounted to approximately 112,515,000 MYR, significantly higher than 16,326,000 MYR in 2023[66] Corporate Governance and Future Plans - The company plans to continue expanding its logistics and transportation services, focusing on enhancing operational efficiency and exploring new market opportunities[10] - The group plans to enhance efficiency and competitiveness through integration and digitalization by 2025[59] - The company expects that the adoption of new and revised International Financial Reporting Standards will not have a significant impact on its consolidated financial statements in the future[14] - The company did not recommend a final dividend for the year ending December 31, 2024, consistent with no dividend in 2023[39] - The company did not declare a final dividend for the reporting period, consistent with the previous year[72] Audit and Compliance - The audit committee has reviewed the audited consolidated financial statements of the group for the reporting period[81] - The company's auditor, Kreston John & Gan, has verified the figures in the consolidated financial statements for the reporting period[83] - The company acknowledges the importance of the company secretary in governance matters and has appointed an external service provider for this role[78] - The board of directors has confirmed adherence to the standard code of conduct for securities trading during the reporting period[79] Miscellaneous - The company has not identified any external customers contributing 10% or more to total revenue for the fiscal years ending December 31, 2024, and 2023[27] - The company has not purchased, sold, or redeemed any of its listed securities during the reporting period and up to the date of this announcement[80] - The company held two regular board meetings during the reporting period to discuss various matters, including the annual performance for the year ending December 31, 2023, and the interim performance for the six months ending June 30, 2024[76] - The company does not publish quarterly results and therefore does not find it necessary to hold quarterly meetings[76] - The company expresses gratitude to business partners, shareholders, and the management team for their continuous support and contributions[84] - The board consists of four executive directors and three independent non-executive directors as of the announcement date[86]

Interim Report 中期報告 2024 Infinity Logistics and Transport Ventures Limited 鷹輝物流有限公司 鷹輝物流有限公司 （於開曼群島註冊成立之有限公司） 股份代號：1442 中 期 報 告 目錄 公司資料 2 財務摘要 4 管理層討論及分析 7 企業管治及其他資料 13 簡明綜合損益及其他全面收益表 21 簡明綜合財務狀況表 23 簡明綜合權益變動表 25 簡明綜合現金流量表 27 簡明綜合財務報表附註 29 1 鷹輝物流有限公司 | --- | --- | --- | |----------------------------------------------|--------------------------|---------------------------------| | | | | | | | | | | | | | | | | | | | | | | | | | 公司資料 | | | | 董事會 | 薪酬委員會 Tan Poay Teik | 先生 （委員會主席） | | 執行董事 | | Dato' Kwan Siew ...

Financial Performance - The company's revenue for the six months ended June 30, 2024, was RM 235,564,000, an increase of 29.5% compared to RM 181,905,000 for the same period in 2023[1] - Gross profit for the same period was RM 45,922,000, representing a gross margin of approximately 19.5%, up from RM 37,249,000 in 2023[1] - The net profit for the six months ended June 30, 2024, was RM 20,497,000, a 23.5% increase from RM 16,628,000 in the previous year[2] - Total comprehensive income for the period was RM 18,104,000, down from RM 22,146,000 in 2023, primarily due to foreign exchange losses[2] - The company reported a basic and diluted earnings per share of RM 0.93 for the current period, compared to RM 0.81 in the previous year[2] - The company reported a pre-tax profit of 24,673 thousand MYR for the six months ended June 30, 2024, compared to 18,697 thousand MYR for the same period in 2023, indicating a growth of 31.9%[10] - The total segment performance showed a gross profit of 45,922 thousand MYR for the current period, up from 37,249 thousand MYR, marking an increase of 23.4%[10] Revenue Breakdown - Revenue from container liquid bag solutions reached 94,573 thousand MYR, up from 54,840 thousand MYR, representing a growth of 72.3% year-over-year[15] - The logistics center and related services generated revenue of 41,314 thousand MYR, compared to 39,733 thousand MYR, reflecting an increase of 4.0%[15] - The road transportation services revenue decreased to 36,992 thousand MYR from 37,001 thousand MYR, a slight decline of 0.02%[15] - Revenue from external customers in Malaysia was 123,256 thousand MYR, an increase from 105,668 thousand MYR, representing a growth of 16.6%[13] - Revenue from integrated freight forwarding services increased significantly by approximately 28.6% to about 53,242,000 MYR, with gross profit rising by 52.3% to approximately 12,811,000 MYR[32] - Revenue from container liquid bag solutions surged approximately 72.5% to about 94,573,000 MYR, with gross profit increasing by 108.8% to approximately 23,449,000 MYR due to an acquisition[33] Assets and Liabilities - The company's total assets as of June 30, 2024, were RM 649,330,000, compared to RM 654,186,000 as of December 31, 2023[3] - Non-current liabilities decreased to RM 171,613,000 from RM 183,144,000, indicating improved financial stability[4] - The company's cash and cash equivalents were RM 41,463,000, down from RM 50,769,000 at the end of 2023, reflecting a tighter liquidity position[3] - Trade receivables from third parties increased to 91,780 thousand MYR as of June 30, 2024, compared to 72,671 thousand MYR as of December 31, 2023, reflecting a growth of 26.2%[24] - Trade payables to third parties increased to 43,414 thousand MYR as of June 30, 2024, from 39,733 thousand MYR as of December 31, 2023, showing an increase of 6.8%[28] - The company’s total lease liabilities were approximately 80,853,000 MYR, a decrease from 89,223,000 MYR at the end of 2023[36] Costs and Expenses - For the six months ended June 30, 2024, the total employee costs amounted to 32,656 thousand MYR, an increase of 28.9% compared to 25,305 thousand MYR for the same period in 2023[19] - The cost of inventory for the six months ended June 30, 2024, was 71,124 thousand MYR, representing a significant increase of 63.3% from 43,611 thousand MYR in the previous year[19] - The company’s cost of goods sold for the six months ending June 30, 2024, totaled approximately 189,642,000 MYR, an increase of about 31.1% compared to the previous year[33] Investments and Future Outlook - The company has made significant investments in property, plant, and equipment, with a total of RM 386,186,000 as of June 30, 2024, up from RM 347,960,000[3] - The company invested approximately 49,289 thousand MYR in property, plant, and equipment during the six months ended June 30, 2024[10] - The company plans to continue expanding its market presence and investing in new technologies to drive future growth[1] - The company is optimistic about the market outlook for the remainder of the year, despite lower freight rates, as the overall economic environment shows signs of improvement[35] Governance and Compliance - The audit committee consists of three independent non-executive directors, ensuring compliance with corporate governance and financial reporting responsibilities[46] - The group had no contingent liabilities as of June 30, 2024[40] - There were no significant events affecting the group from June 30, 2024, to the date of the announcement[41] - The group did not purchase, sell, or redeem any of its listed securities during the relevant period[47] - The group has not utilized any financial instruments for hedging purposes as the anticipated foreign exchange risk is not considered significant[38] Dividends and Shareholder Information - The company did not declare an interim dividend for the six months ended June 30, 2024, consistent with the previous year[23] - The board did not recommend the payment of an interim dividend for the six months ended June 30, 2024[43] - The weighted average number of ordinary shares used for calculating basic and diluted earnings per share remained at 2,064,000,000 for both periods[22] Employee Information - Employee count increased to approximately 1,035 as of June 30, 2024, compared to 901 as of June 30, 2023[42] - Employee costs for the six months ended June 30, 2024, were approximately MYR 32,656,000, up from MYR 25,305,000 for the same period in 2023, representing a year-on-year increase of about 29.3%[42] - The company is committed to attracting and retaining top talent by providing competitive compensation and bonuses based on performance[42]

Charitable Contributions and Community Engagement - The company made charitable donations of approximately 161,000 MYR during the reporting period, an increase from 92,000 MYR in 2022[27] - Infinity plans to donate a laboratory built from shipping containers to promote research output at the university and inspire student interest in logistics[54] - The company emphasizes the importance of community engagement to understand local needs and ensure business activities consider community interests[37] - The company engages in community investment and charitable activities to fulfill its social responsibilities[123] Employee Development and Training - The company has implemented a training and development program focused on creating a motivated workforce to meet new challenges and align with both short-term and long-term goals[4] - The company conducts annual training needs analysis (TNA) to create a comprehensive training calendar that supports individual and organizational goals[4] - The company has established training programs to enhance employees' knowledge and skills related to their job responsibilities[63] - Infinity is focused on developing industry-relevant talent through partnerships and participation in events like the Robofun & Robothon Industry Challenge Demo Day 2023[54] Governance and Compliance - The company is committed to best corporate governance practices and has adhered to the Hong Kong Stock Exchange's corporate governance code during the reporting period[45] - The board of directors confirmed compliance with the corporate governance code and has reviewed related policies and practices[88] - The company has a policy for reviewing and monitoring compliance with legal and regulatory requirements[88] - The company has established procedures for directors to seek independent professional advice at the company's expense when necessary[76] Financial Performance - The company's revenue for 2023 was approximately 371,105,000 MYR, an increase of about 4.0% compared to 356,870,000 MYR in 2022[200] - Gross profit for 2023 was approximately 68,941,000 MYR, a decrease of about 10.0% from 76,636,000 MYR in 2022, resulting in a gross margin of approximately 18.6%[200] - Net profit for 2023 was approximately 18,379,000 MYR, down from 35,882,000 MYR in 2022[200] Environmental and Social Responsibility - The company has implemented a governance framework for environmental, social, and governance (ESG) matters, with a dedicated committee to coordinate efforts across departments[144] - The company has implemented various measures to reduce air pollutant emissions, greenhouse gas emissions, and waste generation density, using 2021 as the baseline year[152] - The company is committed to promoting green logistics and environmental policies to support sustainable logistics systems and reduce carbon footprints[150] - The board is committed to sustainable development and has established short-term and long-term sustainability goals to achieve continuous emission reductions[139] Supplier and Quality Management - The company regularly reviews supplier performance, turnaround times, and pricing terms before renewing contracts[11] - The company has a quality control team responsible for maintaining and reviewing quality management procedures to ensure high service standards[16] - The company has a zero-tolerance policy towards bribery and corruption, ensuring that only suppliers with a good track record are selected for partnerships[13] Risk Management - The company has not reported any significant non-compliance or violations related to anti-corruption activities during the reporting period[51] - The company continues to monitor foreign exchange risks and will consider using appropriate derivative instruments if necessary[155] - The company has no significant contingent liabilities as of December 31, 2023[158] Strategic Planning and Future Outlook - The company remains optimistic about the future of logistics in Malaysia and is committed to sustainable development and carbon neutrality[196] - The company is focused on developing intermodal terminals along the KTM railway line and plans to expand strategically along the ECRL railway line in the future[199]