Financial Performance - The group recorded revenue of approximately RMB 133.9 million for the year ended December 31, 2023, a decrease of about RMB 45.6 million or approximately 25.4% compared to RMB 179.5 million in 2022[3]. - The loss for the year was approximately RMB 34.2 million, significantly higher than the previous year's loss of RMB 0.2 million, primarily due to a decrease in revenue from transportation, warehousing, and in-plant logistics services[3]. - Basic loss per share for the year was approximately RMB 3.28, compared to RMB 0.02 in the previous year[5]. - The total operating loss for the year was RMB 32.3 million, compared to a loss of RMB 0.6 million in the previous year[5]. - The group reported a net loss of RMB 34.2 million for the year, compared to a net loss of RMB 0.2 million in the previous year[6]. - Other comprehensive income for the year was significantly impacted, resulting in a total comprehensive loss of RMB 37.3 million[6]. - The group’s total revenue decreased from approximately RMB 179.5 million in the previous year to about RMB 133.9 million, a decline of approximately 25.4%[68]. Revenue Breakdown - For the fiscal year ending December 31, 2023, total revenue from external customers was RMB 133,881,000, with the breakdown as follows: Transportation Services RMB 50,335,000, Warehousing Services RMB 19,276,000, Logistics Services RMB 62,932,000, and Manufacturing Services RMB 1,338,000[28]. - Revenue from transportation services fell by approximately 31.2%, from about RMB 73.1 million to approximately RMB 50.3 million, primarily due to reduced sales volume to end customers[69]. - Revenue from warehousing services decreased by approximately 44.1%, from about RMB 34.5 million to approximately RMB 19.3 million, mainly due to decreased demand for warehousing services[70]. - Revenue from in-plant logistics services decreased by approximately 9.0%, from about RMB 69.1 million to approximately RMB 62.9 million[72]. - Revenue from customization services was approximately RMB 2.8 million in the previous year and about RMB 1.3 million in the current year[73]. Assets and Liabilities - Total assets increased to RMB 282.828 billion in 2023, up from RMB 179.207 billion in 2022, representing a growth of 57.8%[8]. - Non-current assets totaled RMB 80.004 billion in 2023, compared to RMB 60.877 billion in 2022, reflecting an increase of 31.5%[8]. - Current assets rose to RMB 202.824 billion in 2023, a significant increase from RMB 118.330 billion in 2022, marking a growth of 71.5%[8]. - Total liabilities reached RMB 139.020 billion in 2023, up from RMB 35.199 billion in 2022, indicating a rise of 295.5%[9]. - Current liabilities increased to RMB 102.850 billion in 2023, compared to RMB 30.963 billion in 2022, showing a growth of 231.5%[9]. - The company's equity attributable to owners decreased to RMB 138.456 billion in 2023 from RMB 144.008 billion in 2022, a decline of 3.6%[9]. Cash Flow and Financing - Cash and cash equivalents amounted to RMB 78.026 billion in 2023, up from RMB 55.530 billion in 2022, representing an increase of 40.4%[8]. - The company reported a significant increase in short-term lease-related rental payments, which rose by approximately RMB 6.8 million[3]. - Financing costs rose to RMB 1,057,000 in 2023, compared to RMB 427,000 in 2022, primarily due to increased interest expenses[36]. - The company raised approximately HKD 34.67 million from the placement of 176,880,000 shares at a price of HKD 0.196 per share[88]. Strategic Developments - The group successfully acquired 60% of Zhongshan Haihui Logistics Co., Ltd. in October 2023 to enhance market leadership and operational efficiency[64]. - The acquisition agreement includes a profit guarantee requiring audited revenue of at least RMB 60,000,000 and net profit of RMB 3,500,000 during the guarantee period[42]. - The group plans to maintain a cautiously optimistic outlook for 2024, focusing on market research and technological innovation to address potential risks[65]. - The group is actively seeking strategic partners in various fields, including traditional Chinese medicine, to achieve sustainable business growth[66]. Employee and Operational Metrics - The company employed 577 full-time employees as of December 31, 2023, down from 678 in the previous year[101]. - Employee benefit expenses decreased by approximately RMB 3.9 million or 5.5% from last year's RMB 70.6 million to this year's RMB 66.7 million[75]. - The company's total issued and paid-up share capital increased to RMB 11,412,000 in 2023 from RMB 9,644,000 in 2022, marking a growth of 18.3%[57]. Compliance and Governance - The independent auditor has confirmed that the financial statements for the year ended December 31, 2023, are consistent with the audited consolidated financial statements[111]. - The audit committee has reviewed the audited financial statements and believes they comply with applicable accounting standards[112]. - The board has confirmed that there are no significant events affecting the company after December 31, 2023, up to the date of the announcement[102].

Financial Performance - Revenue for the six months ended June 30, 2023, was RMB 60,977,000, a decrease of 34.9% compared to RMB 93,584,000 in the same period of 2022[11] - The net loss attributable to the owners of the Company for the period was RMB 10,562,000, compared to a profit of RMB 3,871,000 in the same period of 2022[11] - Basic and diluted loss per share for the period was RMB 1.0952, compared to earnings of RMB 0.4377 per share in the same period of 2022[11] - Total comprehensive expense for the period attributable to owners of the Company was RMB 10,558,000, compared to a total comprehensive income of RMB 3,516,000 in the same period of 2022[12] - The company reported a loss for the period of RMB 10,562,000 for the six months ended June 30, 2023, compared to a profit of RMB 3,871,000 for the same period in 2022[15] - Loss before taxation for the first half of 2023 was RMB 10,287,000, compared to a profit before taxation of RMB 4,004,000 in the first half of 2022[41] - The Group recorded a revenue decrease of approximately 34.8% during the first half of 2023 compared to the same period in 2022[110] - The net loss for the first six months of 2023 was approximately RMB10.6 million, compared to a net profit of approximately RMB3.9 million during the first half of 2022[110] Revenue Breakdown - Revenue from transportation services was RMB 19,458,000, down 53.4% from RMB 41,725,000 in the previous year[29] - Warehousing service revenue decreased by 46.0% to RMB 9,812,000 from RMB 18,178,000 year-on-year[29] - In-plant logistics service revenue slightly decreased to RMB 31,043,000 from RMB 32,425,000, a decline of 4.3%[29] - Customisation service revenue was RMB 664,000, down 47.0% from RMB 1,256,000 in the prior year[29] - Total external sales for the six months ended June 30, 2023, amounted to RMB 60,977,000, a decrease from RMB 93,584,000 in the same period of 2022[41] Cost Management - Employee benefits expenses decreased to RMB 31,760,000, down 5.3% from RMB 33,544,000 in the same period of 2022[11] - Sub-contracting expenses significantly decreased to RMB 13,058,000, down 61.9% from RMB 34,285,000 in the same period of 2022[11] - The Company reported finance costs of RMB 185,000, a decrease of 79.8% from RMB 916,000 in the same period of 2022[11] - Other expenses increased to approximately RMB28.4 million for the six months ended June 30, 2023, up from RMB21.7 million in 2022, primarily due to higher operating lease rentals and increased legal and professional fees[137] Assets and Liabilities - As of June 30, 2023, total assets less current liabilities amounted to RMB 136,191,000, a decrease from RMB 148,244,000 as of December 31, 2022, reflecting a decline of approximately 8.5%[14] - The net current assets increased to RMB 114,036,000 from RMB 87,367,000, representing a growth of approximately 30.4%[14] - The company's total equity decreased to RMB 133,450,000 as of June 30, 2023, down from RMB 144,008,000 at the end of 2022, indicating a decline of approximately 7.3%[15] - Trade payables as of June 30, 2023, amount to RMB 9.5 million, an increase from RMB 8.1 million as of December 31, 2022[82] Cash Flow - Cash and cash equivalents at the end of the period were RMB 55,392,000, slightly down from RMB 66,958,000 at the end of June 2022[17] - Net cash used in operating activities was RMB 6,623,000 for the six months ended June 30, 2023, compared to a net cash generated of RMB 582,000 in the same period of 2022[17] - The company generated net cash from investing activities of RMB 8,738,000 for the six months ended June 30, 2023, compared to RMB 838,000 in the same period of 2022[17] Strategic Focus - The Company is focusing on cost reduction strategies to improve financial performance in the upcoming periods[9] - The Group plans to actively seek opportunities for strategic business alliances with companies possessing advanced technologies such as AI and robotics to enhance operational efficiency[115] - The Group aims to diversify logistics services across a broader spectrum of industries, including participation in Chinese Medicine-related businesses, to achieve sustainable growth[116] Market Outlook - The logistics market in the PRC is expected to stabilize with economic growth forecasted around 5-6% in 2023, supporting logistics demand[106] - The logistics industry is facing challenges related to slowing economic growth, rising costs, and stricter environmental regulations[106] - The logistics sector in the PRC is expected to continue its recovery in the second half of 2023, driven by e-commerce expansion and government support[114] Share Capital and Options - The company's share capital remained unchanged at RMB 8,139,000 as of June 30, 2023[15] - No share options were granted, exercised, or cancelled during the six months ended June 30, 2023, with 69 million outstanding share options remaining valid until May 31, 2030[90] - The Group issued 176,880,000 new shares on July 7, 2023, raising approximately HK$34.67 million, intended for the development of intelligent logistics services[172] Employee Information - As of June 30, 2023, the Group employed 641 full-time employees, a decrease from 681 employees as of June 30, 2022[161]

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。 Yues International Holdings Group Limited 樂 氏 國 際 控 股 集 團 有 限 公 司 （於開曼群島註冊成立的有限公司） （股份代號：1529） 中 期 業 績 公 告 截 至 二 零 二 三 年 六 月 三 十 日 止 六 個 月 樂氏國際控股集團有限公司（（「本公司」）董事（「董事」）會（「董事會」）欣然公 佈本公司及其附屬公司（統稱為「本集團」）截至二零二三年六月三十日止 六個月之未經審核中期業績。本公告載列本集團二零二三年中期報告（「二 零二三年中期報告」）全文，並符合香港聯合交易所有限公司證券上市規 則有關中期業績初步公告隨附資料的相關規定。二零二三年中期報告的 印刷版本將適時寄發予本公司股東，並可於香港聯合交易所有限公司的 網站www.hkexnews.hk及本公司網站www.goalrise-china.com閱覽。 承董事會命 樂氏國際控股集 ...

Financial Performance - The overall revenue of the Group decreased by approximately RMB32.3 million or approximately 15.3%, from approximately RMB211.8 million in 2021 to approximately RMB179.5 million in 2022[15]. - The Group's overall revenue decreased by approximately RMB32.3 million or approximately 15.3%, from approximately RMB211.8 million in the previous year to approximately RMB179.5 million for the year[42][46]. - Revenue from transportation services decreased by approximately 23.5%, from approximately RMB95.6 million to approximately RMB73.1 million, primarily due to reduced orders caused by lockdown policies and overseas customers setting up production facilities locally[44][47]. - Revenue from warehousing services decreased by approximately 21.1%, from approximately RMB43.7 million to approximately RMB34.5 million, mainly due to the cessation of one warehouse's use in Guangdong Province[50][53]. - Revenue from in-plant logistics services slightly decreased by approximately 2.5%, from approximately RMB70.9 million to approximately RMB69.1 million[51][55]. - The Group's loss for the year decreased significantly by approximately 99% to approximately RMB0.2 million, down from approximately RMB17.1 million in 2021[19][22]. - The Group recorded a loss of approximately RMB0.2 million for the Year, a significant improvement from a loss of approximately RMB17.1 million in the Previous Year[76]. Operational Efficiency - The Group has been managing operating expenses cautiously and reducing marketing and promotion budgets due to market uncertainties[14]. - The logistics industry faced disruptions in 2022 due to high inflation, extreme weather, and geopolitical issues, impacting overall performance[13]. - The logistics efficiency has been severely disrupted since the outbreak of COVID-19 in 2020, affecting the entire industry[13]. - The Group's operations are gradually returning to normal as China's new epidemic policy continues to optimize and adjust[13]. Strategic Initiatives - The Group is actively exploring new customer sources to broaden its customer base despite the challenging market conditions[15]. - The Group plans to diversify logistics services to a broader spectrum of industries in response to potential changes in customer demand[20][23]. - The Group intends to commence a Chinese Medicine Business focusing on agency, dealership, and distributorship of Chinese Medicine products and related health industry products[21][23]. - The Group aims to seek business development opportunities for future acquisitions and joint ventures in the Chinese Medicine industry[25][27]. - The Group is actively identifying potential strategic partners in various areas, including the Chinese Medicine Business, to develop new economic partnerships[25][27]. Cost Management - The proportion of outsourcing costs to total revenue was reduced from approximately 37.9% in 2021 to approximately 32.1% in 2022, with subcontracting expenses decreasing by approximately RMB 22.5 million from approximately RMB 80.2 million to approximately RMB 57.7 million[18][22]. - The Group reduced the proportion of outsourcing to total revenue from approximately 37.9% in 2021 to approximately 32.1% in 2022[36][39]. - Sub-contracting expenses decreased by approximately RMB22.5 million from approximately RMB80.2 million for the Previous Year to approximately RMB57.7 million for the Year[61]. Human Resources - Employee benefits expenses remained stable at approximately RMB71.7 million for the Previous Year and approximately RMB70.6 million for the Year[60]. - As of December 31, 2022, the Group employed 678 full-time employees, a decrease from 687 in 2021[94]. Financial Position - Net current assets decreased to approximately RMB87.4 million as of 31 December 2022, down from approximately RMB119.5 million in 2021[77]. - Cash and cash equivalents decreased to approximately RMB55.5 million as of 31 December 2022, compared to approximately RMB68.2 million in 2021[77]. - Other income and net gains increased from approximately RMB4.1 million to approximately RMB6.8 million, mainly due to net exchange gains and increased interest income[59]. - Other income increased from approximately RMB4.1 million in the Previous Year to approximately RMB6.8 million for the Year, mainly due to foreign exchange gains and increased interest income[62]. - The Group maintained a net cash position as cash and cash equivalents exceeded lease liabilities as of 31 December 2022[84]. Corporate Governance - The Company has complied with all applicable Code Provisions as set out in the Corporate Governance Code during the year ended 31 December 2022[144]. - The Board is committed to maintaining high standards of corporate governance to uphold transparency and safeguard shareholders' interests[143]. - The Company aims to establish and maintain a competent and independent Board to supervise the Group's business and overall performance[146]. - The Company has adopted the Model Code for Securities Transactions by Directors of Listed Issuers as its code of conduct regarding Directors' transactions in the securities of the Company[145]. - The Company has established three Board Committees: Audit Committee, Remuneration Committee, and Nomination Committee, each with defined terms of reference[199]. - The Company has documented all business transacted at Board meetings and by written resolutions, ensuring transparency[192]. - The Company has received annual confirmations of independence from each INED, assessing them according to guidelines[197]. Board Composition and Diversity - The Board comprises four executive Directors, one non-executive Director, and four independent non-executive Directors as of December 31, 2022[155]. - The Company aims to appoint at least one female Director by December 31, 2024, to enhance gender diversity on the Board[165]. - The Board's diversity is assessed based on various factors, including gender, age, and professional qualifications[163]. - The Directors possess a balanced mix of experiences in business management, accounting, and corporate governance[165]. - The Company has adopted a Board Diversity Policy to promote sustainable and balanced development[158]. Management Team - The company has been expanding its management team with experienced professionals in investment and logistics sectors[118]. - The management team includes members with qualifications in economics, mathematics, and financial management from reputable institutions[123]. - Mr. Li Jiahao was appointed as CEO on August 4, 2021, and has been with the company since 2012, holding various positions in Guangzhou World-Link[114]. - Mr. Song Ruipeng, with over 15 years of experience in equity investment, was appointed as an executive director on December 15, 2021[118]. - Mr. Lau Wai Piu Patrick, appointed as an independent non-executive director on June 28, 2022, has over 20 years of experience in auditing and accounting[127]. Future Outlook - The Group's financial conditions are expected to strengthen through the funds raised for the development of the Chinese Medicine Business[103]. - The net proceeds from the share offering amounted to approximately HK$38.8 million, with planned uses including upgrading warehouses and expanding logistics[109]. - The actual use of net proceeds for expanding existing logistics was HK$0.5 million as of December 31, 2022[111]. - The Company has no future plans for material investments or acquisitions as of December 31, 2022[95][100].

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，並明確表示概不就 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。 Yues International Holdings Group Limited 樂 氏 國 際 控 股 集 團 有 限 公 司 （於開曼群島註冊成立的有限公司） （股份代號：1529） 截 至2022年12月31日 止 年 度 年 度 業 績 公 告 財務摘要 本年度，本集團的經營業績如下： • 本 集 團 錄 得 收 益 約 為 人 民 幣179.5百 萬 元（2021年：約 人 民 幣211.8百 萬元），較上年度減少約人民幣32.3百萬元或約15.3%。 • 年 內 虧 損 約 人 民 幣0.2百 萬 元（上 年 度：約 人 民 幣17.1百 萬 元）主 要 歸 因於上年度產生物業、廠房及設備的單次非經常性減值開支約人民 幣16.5百萬元，而本年度並無產生該項開支。 • 本年度每股基本虧損約為人民幣0.02分（上年度：約人民幣2.12分）。 • 董事並不建議派付本年度的末期股息（上年度：無）。 ...

Financial Performance - For the six months ended June 30, 2022, the company reported revenue of RMB 93,584,000, a decrease from RMB 100,000,000 in the same period of 2021, representing a decline of approximately 6.4%[15] - The profit before taxation for the period was RMB 4,004,000, compared to a loss of RMB 133,000 in the corresponding period of 2021, indicating a significant improvement[15] - The total comprehensive income for the period was RMB 3,871,000, with basic earnings per share of RMB 0.4377, compared to a loss per share in the previous year[15] - For the six months ended June 30, 2022, the company reported a total profit of RMB 3,871,000[22] - The company experienced a total expense of RMB 19,175,000 during the same period[23] - The total cash decrease for the period was RMB 1,179,000[27] - For the six months ended June 30, 2022, the Group's revenue decreased to approximately RMB93.6 million, a decline of approximately RMB5.6 million or 5.6% compared to RMB99.2 million for the same period in 2021[153] - Revenue from warehousing services decreased by approximately 28.1% from approximately RMB25.3 million in the six months ended June 30, 2021, to approximately RMB18.2 million in the same period of 2022[153] - Revenue from transportation services increased slightly by approximately 1.5% from approximately RMB41.1 million for the six months ended June 30, 2021, to approximately RMB41.7 million for the same period in 2022[153] - The Group recorded a profit of approximately RMB3.9 million for the six months ended 30 June 2022, compared to a loss of approximately RMB19.2 million for the same period in 2021[167][169]. Assets and Liabilities - As of June 30, 2022, the company's total assets were RMB 153,762,000, a decrease from RMB 166,586,000 at the end of 2021[18] - The net current assets increased to RMB 124,199,000 from RMB 119,495,000 at the end of 2021, reflecting improved liquidity[18] - The company's non-current liabilities stood at RMB 139,725,000, slightly up from RMB 137,455,000 at the end of 2021[18] - The total equity of the company increased to RMB 134,145,000 from RMB 130,629,000 at the end of 2021, indicating a positive trend in shareholder value[18] - Trade receivables from contracts with customers decreased from RMB 45,760,000 in December 2021 to RMB 35,253,000 in June 2022, representing a decline of approximately 23%[105] - Trade payables decreased significantly from RMB 31,375,000 in December 2021 to RMB 15,514,000 in June 2022, a decline of approximately 50%[116] - The non-current portion of rental deposits decreased from RMB 58,996,000 in December 2021 to RMB 47,479,000 in June 2022[105] - The accrued employee benefits slightly decreased from RMB 5,065,000 in December 2021 to RMB 4,790,000 in June 2022[116]. Employee and Operational Expenses - Employee benefits expenses for the period were RMB 33,544,000, while subcontracting expenses were RMB 34,285,000, showing a focus on cost management[15] - Total employee benefits expenses for the period were RMB 33,544,000, a decrease from RMB 34,636,000 in the previous year[89] - Other operating expenses totaled RMB 21,695,000 for the period[78] - Other expenses decreased to approximately RMB21.7 million for the six months ended 30 June 2022, down from RMB41.9 million for the same period in 2021, primarily due to reduced costs related to a new warehouse and lower asset impairment provisions[166][168]. Revenue Recognition and Business Operations - The Group recognizes revenue from transportation, warehousing, and in-plant logistics services over time, while revenue from customisation services is recognized at a point in time upon customer acceptance[56] - The performance obligations for transportation services include delivering inventory to downstream clients and manufacturing plants across China and Egypt[46] - The warehousing services provided include inventory storage and management in the Group's warehouses located in China[49] - The in-plant logistics services involve managing the movement of production materials and components within customers' manufacturing plants[49] - The Group's revenue is primarily derived from operations in the PRC, with noncurrent assets also located in the PRC[4]. Market and Strategic Initiatives - The company is actively exploring market expansion opportunities and new product development to enhance future growth prospects[13] - The Group plans to actively diversify logistics services to a broader spectrum of industries in anticipation of changes in customer demand[148] - The Group is considering opportunities in Chinese Medicine-related businesses, including storage and distribution, to achieve sustainable business growth[148] - The Group maintains a cautious outlook on the impact of COVID-19 and related risks on its operations and financial performance[149]. Share Capital and Options - The total issued and fully paid shares increased from 800,000,000 to 884,400,000 between December 2021 and June 2022[124] - The Group's share capital remained stable at HK$8,844,000 as of June 30, 2022, with no new capital raised during the period[124] - The Company offered to grant an aggregate of 73,400,000 Share Options to certain directors, employees, and consultants, representing approximately 9.175% of the issued share capital as of the date of grant[200] - The exercise price of the Share Options is HK$0.188 per share[200] - The validity period of the Share Options is ten years from the date of grant[200] - No Share Options were exercised, lapsed, cancelled, or forfeited during the six months ended June 30, 2022[200]. Cash Flow and Investments - Net cash from operating activities was RMB 582,000, while net cash used in investing activities was RMB (2,599,000)[27] - The cash and cash equivalents at the beginning of the period were RMB 68,162,000, decreasing to RMB 66,958,000 by the end of the period[27] - The Group did not make any significant investments during the six months ended 30 June 2022[180]. - The Group maintained a net cash position as of 30 June 2022, with no applicable gearing ratio due to cash and cash equivalents exceeding lease liabilities and bank borrowings[172].

Financial Performance - Revenue for the six months ended June 30, 2021, was RMB 99,214,000, compared to RMB 2020 figures[5]. - Loss before taxation for the period was RMB 19,134,000, with a total comprehensive loss of RMB 19,175,000[5]. - Basic and diluted loss per share was RMB 2.397[5]. - For the six months ended June 30, 2021, total revenue reached RMB 99.214 million, representing a 19% increase from RMB 83.416 million in the same period of 2020[36]. - The loss for the period attributable to the owners of the Company was RMB (19,175,000) for the six months ended June 30, 2021, compared to RMB (373,000) for the same period in 2020[92]. - The Group recorded a loss and total comprehensive expense of approximately RMB 19.2 million for the six months ended June 30, 2021, compared to a loss of approximately RMB 0.4 million in 2020[169]. Revenue Breakdown - Transportation services generated RMB 41.119 million, up 27% from RMB 32.496 million year-over-year[36]. - Warehousing services increased by 23% to RMB 25.265 million, compared to RMB 20.555 million in the previous year[36]. - In-plant logistics services saw a slight increase of 7% to RMB 32.072 million, up from RMB 30.017 million[36]. - Customization services grew significantly by 117% to RMB 758, compared to RMB 348 in the prior year[36]. - Revenue recognized over time amounted to RMB 98.456 million, which is a 19% increase from RMB 83.068 million in the same period last year[39]. - For the six months ended June 30, 2021, total revenue was RMB 99,214,000, with external sales from transportation services at RMB 41,119,000, warehousing services at RMB 25,265,000, in-plant logistics services at RMB 32,072,000, and customization services at RMB 758,000[63]. Assets and Liabilities - Net current assets increased to RMB 107,361,000 from RMB 98,147,000 as of December 31, 2020[6]. - Total assets less current liabilities decreased to RMB 122,729,000 from RMB 171,265,000 as of December 31, 2020[6]. - Cash and cash equivalents at the end of the period were RMB 71,686,000, down from RMB 74,965,000 at the beginning of the period[13]. - Trade receivables from contracts with customers amounted to RMB 68,662,000 as of June 30, 2021, down from RMB 70,519,000 as of December 31, 2020, representing a decrease of approximately 2.5%[104]. - Trade payables totaled RMB 31,338,000 as of June 30, 2021, up from RMB 26,716,000 as of December 31, 2020, indicating an increase of approximately 17%[109]. - The Group's debt ratio was 17.6% as of June 30, 2021, significantly down from 45.9% at December 31, 2020[174]. Operating Expenses - Total employee benefits expenses amounted to RMB 34,636,000 for the six months ended June 30, 2021, slightly down from RMB 35,590,000 in 2020[86]. - The Group's financial costs for the six months ended June 30, 2021, included total borrowing costs of RMB 1,118,000, down from RMB 1,363,000 in 2020[73]. - Other expenses increased to approximately RMB 41.9 million for the six months ended June 30, 2021, from RMB 12.9 million in 2020, primarily due to costs related to a new warehouse in Dongguan and increased asset impairment provisions[168]. - Sub-contracting expenses amounted to approximately RMB33.9 million for the six months ended June 30, 2021, an increase from approximately RMB22.0 million in the same period of 2020[160]. Business Operations - The company continues to focus on logistics services as its primary business[17]. - The Group's revenue is primarily derived from operations in the People's Republic of China, with non-current assets also located in the PRC[72]. - The Group's performance obligations include transportation, warehousing, in-plant logistics, and customization services, with revenue recognized over time for transportation, warehousing, and in-plant logistics services[54]. - The Group's logistics services include transportation, warehousing, in-plant logistics, and customization services, providing a competitive advantage over other providers[136][139]. - The Group continues to assess the impact of the COVID-19 pandemic on its operations and financial performance, remaining cautious about potential future outbreaks and government measures[147]. Future Outlook - The Group expects to actively diversify logistics services to accommodate potential changes in customer demand[150]. - The Group will leverage economic development in the Greater Bay Area to extend business opportunities[150]. - The Group anticipates continued negative impacts on revenue due to the ongoing effects of the COVID-19 pandemic[151]. - The Group's financial resources are considered sufficiently strong to navigate through the pandemic crisis, indicating a return to a growth track[147]. Shareholder Information - The shares of the company have been listed on the Main Board of The Stock Exchange of Hong Kong Limited since December 19, 2019[17]. - The Board does not recommend the payment of an interim dividend for the six months ended June 30, 2021, consistent with the previous year[132]. - The weighted average number of ordinary shares for the purpose of basic loss per share calculation was 800,000,000 for both 2021 and 2020[97]. - The total number of issued and fully paid ordinary shares remained at 800,000,000 as of June 30, 2021[117]. Capital Expenditures - The Group has signed service contracts for upgrading one of its warehouses, with initial upgrade works completed[192]. - Upgrading one of the warehouses by installing automated storage facilities and systems with a planned use of HK$18.0 million[199]. - Expanding existing in-plant logistics business in the North China and East China regions with a planned use of HK$6.0 million[199]. - Expanding vehicle fleet with a planned use of HK$4.0 million, actual use was HK$3.3 million[199]. - Enhancing sales and marketing efforts with a planned use of HK$4.0 million[199]. - General working capital with a planned use of HK$2.8 million[199].

Economic Impact - For the year ended December 31, 2020, China's GDP was approximately RMB 101.6 trillion, representing a year-on-year increase of about 2.3%[13]. - The global economic growth forecast for 2021 has been raised to 5.5%, with a domestic GDP growth target set at over 6%[32]. - The logistics industry is expected to face a complex environment due to ongoing pandemic challenges, but demand for logistics and transportation is anticipated to recover steadily as consumer confidence returns[32]. Revenue and Profitability - The Group's overall revenue and consolidated net profit were adjusted year-on-year due to the slowdown in market demand for its services[17]. - The Group's overall revenue decreased by approximately 11.7% from approximately RMB 209.8 million for the year ended December 31, 2019, to approximately RMB 185.2 million for the year ended December 31, 2020[91]. - The Group recorded a profit and total comprehensive income of approximately RMB 2.5 million for the year ended 31 December 2020, a decrease of approximately RMB 6.8 million or 73.6% compared to RMB 9.3 million in 2019[128]. - Excluding certain non-operational and non-recurring expenses, the profit for the years ended 31 December 2020 and 2019 would be approximately RMB 8.1 million and RMB 18.2 million, respectively, representing a decrease of approximately RMB 10.1 million or 55.6%[130]. Operational Challenges - The pandemic significantly impacted the logistics industry, leading to a decline in the Group's revenue from in-plant logistics and transportation services compared to the previous year[17]. - Consumption was weak in the first half of the year, resulting in reduced demand for transportation services and increased operational costs[19]. - The implementation of strict preventive measures in the logistics industry affected process efficiency, further impacting the Group's transportation business performance[19]. - The Group faced challenges in its third-party logistics business due to a slowdown in world trade and trade barriers affecting the domestic manufacturing industry[18]. - The Group experienced a revenue decline of approximately 31.7% in transportation services for the entire year due to the Pandemic[68]. Customer and Market Development - The Group successfully acquired several new customers in the food and fast-moving consumer goods sectors during the year[30]. - The Group added 23 new customers during the year, contributing approximately 6% to total revenue[71]. - The Group is optimizing its customer base and actively exploring new customer sources to broaden its market reach[25]. - The logistics needs of existing customers will be further explored to leverage comprehensive logistics solutions[42]. Warehouse and Infrastructure - The Group managed a total of six warehouses in Guangdong province and leased a new warehouse in Dongguan city with a gross floor area of over 54,000 square meters[25]. - The Group's warehouse facility in Dongguan spans 54,000 square meters, serving as a distribution center for e-commerce goods across the Greater Bay Area[39]. - The Group operates six warehouses in Guangdong Province, totaling approximately 98,000 square meters, providing a competitive advantage in logistics services[59]. - The Group plans to expand its warehousing service operation capacity in the Guangdong-Hong Kong-Macao Greater Bay Area by establishing a new warehouse with a total gross floor area of approximately 54,000 square meters in Dongguan[87]. Financial Position and Liquidity - The net cash inflow for the year was approximately RMB 5.0 million, with cash and cash equivalents at approximately RMB 75.0 million at year-end, ensuring sufficient liquidity for business development[30]. - The Group's liquidity position remained healthy, with sufficient cash balances and bank facilities to meet working capital needs[72]. - As of 31 December 2020, the Group had net current assets of approximately RMB 98.1 million, an increase from approximately RMB 88.5 million at 31 December 2019[132]. - Cash and cash equivalents as of 31 December 2020 were approximately RMB 75.0 million, up from approximately RMB 71.4 million at 31 December 2019[132]. - The gearing ratio as of 31 December 2020 was 45.9%, a decrease from 57.9% at 31 December 2019[134]. Strategic Planning and Future Outlook - The Group plans to explore strategic cooperation or mergers and acquisitions to achieve business diversification and expand its revenue base[45]. - The Group expects to actively diversify logistics services to accommodate a broader spectrum of industries and respond to potential changes in customer demand[89]. - The Group remains optimistic about operational performance in the upcoming year, anticipating a gradual alleviation of the pandemic and an expected economic growth of 6% or above in China for 2021[84]. - The Group will continue to assess the impact of the pandemic on operations and financial performance, closely monitoring risks and uncertainties[84]. Leadership and Management - The Group has a strong leadership team with extensive experience in logistics and financial management, enhancing operational efficiency[188]. - The company aims to leverage its experienced management team to expand its market presence and enhance service offerings in logistics[188]. - The leadership team is committed to ensuring compliance with financial regulations and maintaining robust financial health[189].

Financial Performance - Revenue for the six months ended June 30, 2020, was RMB 83,416,000, a decrease of 23.3% compared to RMB 108,571,000 for the same period in 2019[3]. - Profit before taxation for the period was RMB 2,428,000, down 75.6% from RMB 9,860,000 in the previous year[3]. - The company reported a total comprehensive loss of RMB 373,000 for the six months ended June 30, 2020, compared to a profit of RMB 5,892,000 in the same period of 2019[3]. - Basic loss per share was RMB (0.047) for the period, compared to earnings of RMB 0.740 per share in the previous year[3]. - For the six months ended June 30, 2020, the company reported a loss of RMB 373,000 compared to a profit of RMB 5,892,000 in the same period of 2019, indicating a significant decline in performance[87]. Revenue Breakdown - For the six months ended June 30, 2020, total revenue was RMB 83,416,000, with transportation services contributing RMB 32,496,000, warehousing services RMB 20,555,000, in-plant logistics services RMB 30,017,000, and customisation services RMB 348,000[68]. - Transportation services generated RMB 32.496 million, down 40.7% from RMB 54.818 million in the previous year[41]. - Warehousing services revenue increased to RMB 20.555 million, up 6.5% from RMB 19.306 million in 2019[41]. - In-plant logistics services revenue was RMB 30.017 million, a decrease of 11.9% compared to RMB 34.044 million in 2019[41]. - Customization services revenue decreased to RMB 348, down 13.7% from RMB 403 in the previous year[41]. Cash Flow and Assets - Net cash from operating activities was RMB 14,286,000, a decrease from RMB 20,791,000 in the same period of 2019[19]. - Cash and cash equivalents at the end of the period increased to RMB 73,134,000 from RMB 64,794,000 at the end of June 30, 2019[19]. - Total assets less current liabilities amounted to RMB 181,914,000 as of June 30, 2020, slightly down from RMB 183,850,000 at the end of 2019[6]. - Net assets increased to RMB 131,402,000 as of June 30, 2020, compared to RMB 126,163,000 at the end of 2019[6]. - Current liabilities decreased to RMB 41,469,000 from RMB 51,752,000 at the end of 2019[6]. Employee and Operational Expenses - Total employee benefits expenses amounted to RMB 35,590,000, which includes various components such as salaries and equity-settled share-based payments[82]. - Employee benefits expenses increased from approximately RMB 34.7 million for the six months ended June 30, 2019, to RMB 35.6 million for the six months ended June 30, 2020, an increase of approximately RMB 0.9 million, mainly due to equity-settled share-based payments[177]. - Sub-contracting expenses decreased from approximately RMB 35.4 million for the six months ended June 30, 2019, to RMB 22.0 million for the six months ended June 30, 2020, reflecting a decrease in revenue from transportation services[178]. - Other expenses decreased from approximately RMB 18.4 million for the six months ended June 30, 2019, to RMB 12.9 million for the six months ended June 30, 2020, primarily due to the absence of one-off professional fees incurred for the Transfer of Listing[186]. Taxation - Current tax charges for the period amounted to RMB 3,006,000, with deferred tax credits of RMB (205,000)[76]. Share Capital and Dividends - The Board does not recommend the payment of an interim dividend for the six months ended June 30, 2020, consistent with the previous year[156]. - The company’s authorized share capital remained at 10,000,000,000 shares as of June 30, 2020[142]. - The issued and fully paid share capital was 800,000,000 shares as of June 30, 2020[142]. Future Outlook and Challenges - The Group expects to continue experiencing some negative top-line financial impact due to the ongoing Pandemic[164]. - The Group will remain cautious and enhance its business continuity plans to ensure minimal disruption to customers[164]. - The Group has commenced the search for suitable replacement warehouses due to local government's land resumption plans affecting four of its warehouses[165]. - The Group aims to leverage economic development in the Greater Bay Area to extend business opportunities and diversify logistics services across a broader spectrum of industries[166]. - The Group considers its financial resources remain sufficiently strong to navigate through the pandemic crisis and resume growth thereafter[164].

Revenue Performance - The overall revenue of Goal Rise Logistics decreased by 0.7% to RMB 209.8 million in 2019[13]. - Revenue from transportation services decreased by approximately 1.1% from approximately RMB 97.7 million in 2018 to approximately RMB 96.6 million in 2019, attributed to a decrease in domestic transportation orders[81]. - Revenue from warehousing services decreased by approximately 6.2% from approximately RMB 43.0 million in 2018 to approximately RMB 40.3 million in 2019, mainly due to the expiration of a warehouse lease[82]. - Revenue from in-plant logistics services increased by approximately 3.7% from approximately RMB 69.4 million in 2018 to approximately RMB 72.0 million in 2019, driven by increased customer orders[83]. - The Group's revenue slightly decreased by approximately 0.7% from approximately RMB 211.3 million in 2018 to approximately RMB 209.8 million in 2019, primarily due to declines in transportation and warehousing services[80]. Economic Environment - China's GDP growth was 6.1% year on year in 2019, despite increasing downward pressure on the economy[11]. - The macro environment in 2019 was challenging due to ongoing Sino-US trade frictions and a slowdown in European economic activities[11]. - The logistics industry experienced weaker growth in 2019 compared to 2018, but overall development remained stable[12]. - The Group's overall performance reflects the impact of external economic conditions on its various service segments[13]. Business Operations and Strategy - The company customized full logistics service plans for customers, leveraging its competitive advantages in in-plant logistics[20]. - The Group's in-plant logistics business will remain a key development direction, leveraging established reputation and credibility in the industry[44]. - The Group aims to explore strategic cooperation or mergers and acquisitions to achieve moderate business diversification and expand its revenue base in the future[49]. - The Group plans to actively solicit new customers and diversify logistics services across a broader spectrum of industries[76]. - The Group has successfully transferred its listing from GEM to the Main Board of the Stock Exchange on December 19, 2019, enhancing its corporate profile and business prospects[72]. Financial Condition - The Group achieved a net cash inflow of RMB 7.2 million during the year, with no bank borrowings or other debts, ensuring stable funding for business expansion[30]. - The Group's financial condition is sound, with no borrowings and healthy cash flow, allowing it to effectively cope with challenges and seize business opportunities during economic downturns[49]. - The Group's net current assets as of 31 December 2019 were approximately RMB 88.5 million, down from approximately RMB 107.4 million as of 31 December 2018[112][115]. - Cash and cash equivalents increased to approximately RMB 71.4 million as of 31 December 2019, compared to approximately RMB 64.3 million as of 31 December 2018[112][115]. - The gearing ratio as of 31 December 2019 was 57.9%, up from zero as of 31 December 2018, due to the recognition of lease liabilities following the adoption of HKFRS 16[113][115]. Operational Developments - The Group managed a total of five warehouses with a total area of 50,000 square meters, with one warehouse undergoing automation upgrades[21]. - The Group has completed initial upgrade works on one warehouse, including the installation of automated storage facilities, which is pending trial run[70]. - The Group has expanded its vehicle fleet by acquiring new trucks and employing additional drivers to enhance its transportation business[70]. - The Group has established a company in Egypt to expand its logistics business overseas, currently offering domestic logistics management and international freight forwarding services[70]. - The Group's overseas transportation business in Egypt began generating revenue during the year under review[28]. Marketing and Customer Acquisition - The Group's specialized marketing team actively participated in industry exhibitions and conferences to broaden the customer base, successfully obtaining orders from new customers in the food industry[27]. - The Group has participated in the tendering process for potential customers in North and East China, including large clients from the beverage, textile, and pharmaceutical industries[70]. - The sales and marketing department has been established, employing four sales specialists to enhance marketing efforts[150]. - The Group's website has been redesigned to include more graphics and industry information, enhancing its marketing capabilities[150]. Employee and Operational Costs - Employee benefits expenses increased from approximately RMB 72.0 million in 2018 to approximately RMB 75.5 million in 2019, primarily due to higher average monthly salaries and director bonuses[95]. - Sub-contracting expenses amounted to approximately RMB 62.0 million in 2019, slightly up from approximately RMB 61.7 million in 2018, mainly incurred for international freight forwarding services[96]. - Other expenses increased to approximately RMB 27.2 million for the year ended 31 December 2019, compared to RMB 23.2 million in 2018, primarily due to increased entertainment and travel expenses for business solicitation[111][114]. Future Outlook - The logistics market size is expected to expand slightly in 2020, with a total value of goods carried projected to reach RMB 313.3 trillion[41]. - The average Logistics Prosperity Index (LPI) for 2020 is expected to be 52.0%, lower than the previous year[41]. - The Group aims for sustainable business growth by adapting its strategies to market developments[163][165]. - The Group will continue to assess the impact of the COVID-19 epidemic on operations and financial performance, with intensified cost-saving initiatives[75].