Core Viewpoint - LEGION CONSO (02129.HK) reported a decline in revenue for the six months ending June 30, 2024, and June 30, 2025, primarily due to weak market demand affecting its truck transportation and freight forwarding services [1] Financial Performance - Revenue for the six months ending June 30, 2024, is projected to be SGD 31.4 million, while for the six months ending June 30, 2025, it is expected to be SGD 29.6 million, reflecting a decrease of 5.7% [1] - The company recorded a loss of SGD 1.57 million, contrasting with a profit of approximately SGD 3.26 million for the six months ending June 30, 2024 [1]

[Condensed Interim Consolidated Statement of Comprehensive Income](index=1&type=section&id=%E7%B0%A1%E6%98%8E%E7%B6%9C%E5%90%88%E6%90%8D%E7%9B%8A%E5%8F%8A%E5%85%B6%E4%BB%96%E5%85%A8%E9%9D%A2%E6%94%B6%E7%9B%8A%E8%A1%A8) Legion Consortium Limited recorded an unaudited condensed consolidated loss of SGD 1,565,981 for the six months ended June 30, 2025, compared to a profit of SGD 3,259,948 in the same period of 2024, driven by a 5.7% revenue decrease and significantly increased administrative expenses [Condensed Interim Consolidated Statement of Comprehensive Income](index=1&type=section&id=%E7%B0%A1%E6%98%8E%E7%B6%9C%E5%90%88%E6%90%8D%E7%9B%8A%E5%8F%8A%E5%85%B6%E4%BB%96%E5%85%A8%E9%9D%A2%E6%94%B6%E7%9B%8A%E8%A1%A8) Legion Consortium Limited recorded an unaudited condensed consolidated loss of SGD 1,565,981 for the six months ended June 30, 2025, compared to a profit of SGD 3,259,948 in the same period of 2024, driven by a 5.7% revenue decrease and significantly increased administrative expenses Condensed Interim Consolidated Statement of Comprehensive Income | Indicator | June 30, 2025 (SGD) | June 30, 2024 (SGD) | | :--- | :--- | :--- | | Revenue | 29,638,378 | 31,443,294 | | Cost of services | (19,895,682) | (21,171,137) | | Gross profit | 9,742,696 | 10,272,157 | | Other income | 505,688 | 952,151 | | Other gains and losses | (308,514) | 193,209 | | Selling expenses | (183,758) | (80,909) | | Administrative expenses | (10,660,145) | (7,275,588) | | Finance costs | (193,430) | (315,614) | | Loss/Profit before tax | (1,097,463) | 3,745,406 | | Income tax expense | (468,518) | (485,458) | | Loss/Profit and other comprehensive loss/income for the period | (1,565,981) | 3,259,948 | | Basic and diluted loss/earnings per share (SGD cents) | (0.12) | 0.26 | [Condensed Interim Consolidated Statement of Financial Position](index=2&type=section&id=%E7%B0%A1%E6%98%8E%E7%B6%9C%E5%90%88%E8%B2%A1%E5%8B%99%E7%8B%80%E6%B3%81%E8%A1%A8) As of June 30, 2025, the Group's total assets were SGD 72,779,000, a decrease from SGD 78,620,014 as of December 31, 2024, reflecting adjustments in asset structure with increased net current assets but reduced total liabilities and net assets [Condensed Interim Consolidated Statement of Financial Position](index=2&type=section&id=%E7%B0%A1%E6%98%8E%E7%B6%9C%E5%90%88%E8%B2%A1%E5%8B%99%E7%8B%80%E6%B3%81%E8%A1%A8) As of June 30, 2025, the Group's total assets were SGD 72,779,000, a decrease from SGD 78,620,014 as of December 31, 2024, reflecting adjustments in asset structure with increased net current assets but reduced total liabilities and net assets Condensed Interim Consolidated Statement of Financial Position | Indicator | June 30, 2025 (SGD) | December 31, 2024 (SGD) | | :--- | :--- | :--- | | **Assets** | | | | Non-current assets | 37,630,691 | 41,437,061 | | Current assets | 35,148,309 | 37,182,953 | | **Total assets** | **72,779,000** | **78,620,014** | | **Liabilities** | | | | Current liabilities | 10,889,494 | 17,914,876 | | Non-current liabilities | 8,819,820 | 6,069,471 | | **Total liabilities** | **19,709,314** | **23,984,347** | | **Net assets** | **53,069,686** | **54,635,667** | | **Equity** | | | | Total equity attributable to owners of the Company | 52,123,359 | 53,676,214 | | Non-controlling interests | 946,327 | 959,453 | | **Total equity** | **53,069,686** | **54,635,667** | [Notes to the Condensed Interim Consolidated Financial Statements](index=4&type=section&id=%E4%B8%AD%E6%9C%9F%E7%B0%A1%E6%98%8E%E7%B6%9C%E5%90%88%E8%B2%A1%E5%8B%99%E5%A0%B1%E8%A1%A8%E9%99%84%E8%A8%BB) This section provides detailed notes on the condensed interim consolidated financial statements, covering general information, basis of preparation, adoption of new standards, revenue, expenses, and other financial disclosures [1 General Information](index=4&type=section&id=1%20%E4%B8%80%E8%88%AC%E8%B3%87%E6%96%99) Legion Consortium Limited, incorporated in the Cayman Islands, operates primarily in Singapore and Hong Kong, providing trucking, freight forwarding, and value-added transportation services, with its shares listed on the HKEX since January 13, 2021 - The company is an investment holding company, with its subsidiaries primarily engaged in trucking services, freight forwarding services, and value-added transportation services[6](index=6&type=chunk) - The Company's shares were listed on The Stock Exchange of Hong Kong Limited on **January 13, 2021**[7](index=7&type=chunk) - Mirana Holdings Limited is the direct and ultimate holding company of the Company[7](index=7&type=chunk) [2 Basis of Preparation](index=5&type=section&id=2%20%E7%B7%A8%E8%A3%BD%E5%9F%BA%E6%BA%96) The unaudited condensed interim consolidated financial statements for the six months ended June 30, 2025, are prepared in accordance with IAS 34 and HKEX Listing Rules, and should be read in conjunction with the annual financial statements for the year ended December 31, 2024 - The interim financial statements are prepared in accordance with International Accounting Standard 34 and the Listing Rules of the Stock Exchange[8](index=8&type=chunk) - The interim financial statements should be read in conjunction with the Company's annual financial statements for the year ended December 31, 2024[8](index=8&type=chunk) - The interim financial statements are prepared on a historical cost basis[10](index=10&type=chunk) [3 Adoption of New and Revised Standards](index=6&type=section&id=3%20%E6%8E%A1%E7%B4%8D%E6%96%B0%E8%A8%82%E5%8F%8A%E7%B6%93%E4%BF%AE%E8%A8%82%E6%BA%96%E5%89%87) During this interim period, the Group first applied IAS 21 (Amendment) 'Lack of Exchangeability', with no significant impact on its financial position or performance - International Accounting Standard 21 (Amendment) "Lack of Exchangeability" was first applied during this interim period[13](index=13&type=chunk) - The application of the revised International Financial Reporting Standards had no significant impact on the Group's financial position and performance[13](index=13&type=chunk) [4 Revenue and Segment Information](index=6&type=section&id=4%20%E6%94%B6%E5%85%A5%E5%8F%8A%E5%88%86%E9%83%A8%E8%B3%87%E6%96%99) The Group's revenue primarily derives from trucking, freight forwarding, and value-added transportation services. Total revenue for the six months ended June 30, 2025, was SGD 29,638,378, a decrease from SGD 31,443,294 in the prior year - The Group's revenue represents the fair value of consideration received and receivable for trucking services, freight forwarding services, and value-added transportation services provided to external customers[14](index=14&type=chunk) Revenue by Source and Segment Results | Revenue Source | June 30, 2025 (SGD) | June 30, 2024 (SGD) | | :--- | :--- | :--- | | Trucking services | 13,912,186 | 12,124,000 | | Freight forwarding services | 10,220,122 | 13,676,497 | | Value-added transportation services | 5,506,070 | 5,642,797 | | **Total Revenue** | **29,638,378** | **31,443,294** | | **Segment Results** | | | | Trucking services | 4,949,298 | 4,565,540 | | Freight forwarding services | 3,440,587 | 4,083,920 | | Value-added transportation services | 1,352,811 | 1,622,697 | | **Total Segment Results** | **9,742,696** | **10,272,157** | [5 Other Income](index=8&type=section&id=5%20%E5%85%B6%E4%BB%96%E6%94%B6%E5%85%A5) Other income for the period was SGD 505,688, a significant decrease from SGD 952,151 in 2024, primarily comprising government grants, interest income, rental income, and yard facility income Other Income Breakdown | Item | June 30, 2025 (SGD) | June 30, 2024 (SGD) | | :--- | :--- | :--- | | Government grants | 158,069 | 426,267 | | Interest income | 108,795 | 293,457 | | Rental income | 161,350 | 153,100 | | Yard facility income | 77,474 | 79,327 | | **Total** | **505,688** | **952,151** | - Government grants primarily include Enterprise Development Grant, Wage Credit Scheme, Special Employment Credit, and corporate income tax rebates[18](index=18&type=chunk) [6 Other Gains and Losses](index=8&type=section&id=6%20%E5%85%B6%E4%BB%96%E6%94%B6%E7%9B%8A%E5%8F%8A%E虧%E6%90%8D) The period recorded other losses of SGD 308,514, compared to gains of SGD 193,209 in 2024, primarily due to increased net foreign exchange losses Other Gains and Losses Breakdown | Item | June 30, 2025 (SGD) | June 30, 2024 (SGD) | | :--- | :--- | :--- | | Net gain on disposal of property and equipment | — | 1,817 | | Net foreign exchange loss/gain | (308,514) | 191,392 | | **Total** | **(308,514)** | **193,209** | - The shift from gain to loss was mainly due to increased net foreign exchange losses for the six months ended June 30, 2025, reflecting increased currency volatility and unfavorable exchange rate movements[41](index=41&type=chunk) [7 Finance Costs](index=9&type=section&id=7%20%E8%9E%8D%E8%B3%87%E6%88%90%E6%9C%AC) Finance costs for the period were SGD 193,430, down from SGD 315,614 in 2024, mainly from lease liabilities and bank borrowings Finance Costs Breakdown | Item | June 30, 2025 (SGD) | June 30, 2024 (SGD) | | :--- | :--- | :--- | | Interest on bank borrowings | 25,737 | 17,233 | | Interest on lease liabilities | 167,588 | 298,381 | | Other interest | 105 | — | | **Total** | **193,430** | **315,614** | [8 Loss/Profit Before Tax](index=9&type=section&id=8%20%E9%99%A4%E7%A8%85%E5%89%8D%EF%BC%88%E虧%E6%90%8D%EF%BC%89%EF%BC%8F%E6%BA%A2%E5%88%A9) The period's loss before tax was SGD 1,097,463, compared to a profit of SGD 3,745,406 in 2024, influenced by depreciation, amortization, and total staff costs Components of Loss/Profit Before Tax | Item | June 30, 2025 (SGD) | June 30, 2024 (SGD) | | :--- | :--- | :--- | | Depreciation of property, plant and equipment | 5,327,300 | 4,895,054 | | Depreciation of investment properties | 94,570 | 94,571 | | Amortisation of intangible assets | 57,264 | 70,419 | | Directors' remuneration | 784,172 | 886,266 | | Other staff costs (salaries and benefits) | 5,964,429 | 4,294,544 | | Central Provident Fund contributions | 437,508 | 416,369 | | **Total staff costs** | **7,186,109** | **5,597,179** | - Of the total staff costs, **SGD 1,495,019** was charged to cost of services and **SGD 5,691,090** was charged to administrative expenses[21](index=21&type=chunk) [9 Income Tax Expense](index=10&type=section&id=9%20%E6%89%80%E5%BE%97%E7%A8%85%E9%96%8B%E6%94%AF) Income tax expense for the period was approximately SGD 468,518, consistent with SGD 485,458 in 2024, calculated at 17% of estimated taxable profit with exemptions and rebates - Income tax expense was **SGD 468,518** (2024: SGD 485,458)[23](index=23&type=chunk) - Singapore corporate income tax is calculated at **17%**, with a **75% tax exemption** on the first SGD 10,000 of taxable income and a **50% tax exemption** on the subsequent SGD 190,000 of taxable income[23](index=23&type=chunk) - A corporate income tax rebate of up to **SGD 40,000** was granted to the Group for the Year of Assessment 2025, as per the Singapore Budget 2025[23](index=23&type=chunk) [10 Dividends](index=10&type=section&id=10%20%E8%82%A1%E6%81%AF) No dividends were declared by the Company or any Group entity during or after the six months ended June 30, 2025 and 2024 - No dividends were declared by the Company for the six months ended June 30, 2025 and 2024[24](index=24&type=chunk) [11 Loss/Earnings Per Share](index=10&type=section&id=11%20%E6%AF%8F%E8%82%A1%EF%BC%88%E虧%E6%90%8D%EF%BC%89%EF%BC%8F%E7%9B%88%E5%88%A9) Basic loss per share was 0.12 Singapore cents, compared to earnings of 0.26 Singapore cents in 2024, primarily due to the shift from profit to loss attributable to owners. Diluted loss per share is the same as basic due to no dilutive securities Loss/Earnings Per Share Calculation | Indicator | June 30, 2025 | June 30, 2024 | | :--- | :--- | :--- | | Loss/Profit for the period attributable to owners of the Company (SGD) | (1,552,855) | 3,270,180 | | Weighted average number of ordinary shares in issue | 1,250,000,000 | 1,250,000,000 | | Basic and diluted loss/earnings per share (SGD cents) | (0.12) | 0.26 | - Diluted loss/earnings per share is the same as basic loss/earnings per share as the Group had no dilutive potential ordinary shares convertible into shares[25](index=25&type=chunk) [12 Trade Receivables](index=11&type=section&id=12%20%E8%B2%BF%E6%98%93%E6%87%89%E6%94%B6%E6%AC%BE%E9%A0%85) Net trade receivables were SGD 16,477,049 as of June 30, 2025, an increase from SGD 15,506,508 as of December 31, 2024. The Group generally grants credit terms of 30 to 90 days Trade Receivables Breakdown | Item | June 30, 2025 (SGD) | December 31, 2024 (SGD) | | :--- | :--- | :--- | | Trade receivables | 16,528,359 | 15,558,318 | | Provision for doubtful debts | (51,310) | (51,810) | | **Net** | **16,477,049** | **15,506,508** | - The Group generally grants credit terms of **30 to 90 days** from the invoice date of trade receivables[26](index=26&type=chunk) Aging Analysis of Trade Receivables | Aging | June 30, 2025 (SGD) | December 31, 2024 (SGD) | | :--- | :--- | :--- | | Within 30 days | 5,865,415 | 6,098,372 | | 31 to 60 days | 3,963,496 | 3,629,282 | | 61 to 90 days | 2,180,175 | 1,821,246 | | 91 to 180 days | 1,299,472 | 1,172,512 | | 181 days to 1 year | 535,567 | 547,370 | | Over 1 year | 2,684,234 | 2,289,536 | | **Total** | **16,528,359** | **15,558,318** | [13 Trade and Other Payables](index=12&type=section&id=13%20%E8%B2%BF%E6%98%93%E5%8F%8A%E5%85%B6%E4%BB%96%E6%87%89%E4%BB%98%E6%AC%BE%E9%A0%85) Total trade and other payables were SGD 5,334,509 as of June 30, 2025, a decrease from SGD 6,370,207 as of December 31, 2024, with current portion at SGD 4,020,445 and non-current at SGD 1,314,064 Trade and Other Payables Breakdown | Item | June 30, 2025 (SGD) | December 31, 2024 (SGD) | | :--- | :--- | :--- | | Trade payables | 1,914,051 | 1,721,775 | | Other payables | 200,105 | 1,377,000 | | Goods and Services Tax payable | 319,133 | 62,088 | | Payables for acquisition of property, plant and equipment | — | 66,731 | | Customer deposits | 1,329,063 | 1,329,063 | | Accrued operating expenses | 1,344,085 | 1,546,419 | | Deferred government grants | 228,072 | 267,131 | | **Total** | **5,334,509** | **6,370,207** | | **Analyzed as:** | | | | – Current | 4,020,445 | 5,056,143 | | – Non-current | 1,314,064 | 1,314,064 | - Non-current trade and other payables arise from customer deposits for yard leases and investment property leases[27](index=27&type=chunk) Aging Analysis of Trade Payables | Aging | June 30, 2025 (SGD) | December 31, 2024 (SGD) | | :--- | :--- | :--- | | Within 30 days | 1,037,429 | 1,078,229 | | 31 to 60 days | 575,205 | 394,317 | | 61 to 90 days | 234,218 | 145,389 | | Over 90 days | 67,199 | 103,840 | | **Total** | **1,914,051** | **1,721,775** | [14 Share Capital](index=13&type=section&id=14%20%E8%82%A1%E6%9C%AC) The Company's authorized share capital is 2,000,000,000 ordinary shares of HKD 0.01 each, totaling HKD 20,000,000. Issued and fully paid share capital is 1,250,000,000 ordinary shares, totaling SGD 2,133,905, unchanged during the period Share Capital Structure | Item | Number of Ordinary Shares | Par Value (HKD) | Share Capital (HKD) | | :--- | :--- | :--- | :--- | | Authorized share capital of the Company: at beginning/end of period | 2,000,000,000 | 0.01 | 20,000,000 | | **Item** | **Number of Ordinary Shares** | **Share Capital (SGD)** | | | Issued and fully paid by the Company: at beginning/end of period | 1,250,000,000 | 2,133,905 | | [Business Review and Outlook](index=14&type=section&id=%E6%A5%AD%E5%8B%99%E5%9B%9E%E9%A1%A7%E5%8F%8A%E5%B1%95%E6%9C%9B) This section provides an overview of the Group's integrated logistics services in Singapore, its established market position, and strategic plans for future expansion and operational enhancements [Business Review](index=14&type=section&id=%E6%A5%AD%E5%8B%99%E5%9B%9E%E9%A1%A7) The Group is an integrated logistics service provider in Singapore, offering trucking, freight forwarding, and value-added transportation services, with established infrastructure, market reputation, customer base, modern fleet, strategic yards, and experienced management - The Group is a logistics service provider in Singapore, offering trucking, freight forwarding, transportation, and value-added transportation services[30](index=30&type=chunk) - The Group has established a strong foundation through well-developed infrastructure, a solid market reputation, and a prestigious customer base, expanding its corporate footprint in the Singapore region[30](index=30&type=chunk) - As of June 30, 2025, the Group's fleet included **57 prime movers**, **485 trailers**, and **23 flatbed trucks**, managing three logistics yards of approximately **48,980 square meters** and three warehouses of approximately **32,343 square meters**[30](index=30&type=chunk) [Outlook](index=14&type=section&id=%E5%B1%95%E6%9C%9B) The Group aims to achieve long-term strategic goals by increasing logistics transparency, improving financing, expanding transportation, enhancing value-added services, and extending warehousing, while strategically investing in infrastructure and managing external pressures like diesel prices, interest rates, and labor costs - The Group expects that increasing transparency in logistics operations and improving access to funding will facilitate its expansion strategies and strengthen its market position[31](index=31&type=chunk) - Long-term strategic objectives include expanding transportation operations, enhancing value-added transportation services, and extending business into warehousing services[32](index=32&type=chunk) - The Company remains vigilant regarding external pressures such as diesel price volatility, interest rate fluctuations, labor shortages, and rising wage costs, and will adhere to prudent cost management and seek strategic partnerships[32](index=32&type=chunk) [Financial Review](index=15&type=section&id=%E8%B2%A1%E5%8B%99%E5%9B%9E%E9%A1%A7) This section provides a detailed analysis of the Group's financial performance, including revenue, gross profit, other income, administrative expenses, and overall profitability for the period [Revenue](index=15&type=section&id=%E6%94%B6%E5%85%A5) For the six months ended June 30, 2025, the Group's revenue was SGD 29.6 million, a 5.7% decrease year-on-year, primarily due to a significant reduction in freight forwarding services sales, despite growth in trucking services and stable value-added services - Revenue for the six months ended June 30, 2025, was **SGD 29.6 million**, a **5.7% decrease** from **SGD 31.4 million** in the same period of 2024[33](index=33&type=chunk) - The revenue decrease was mainly due to soft market demand, leading to a significant reduction in sales volume for freight forwarding services[33](index=33&type=chunk) [Trucking Services](index=16&type=section&id=%E8%B2%A8%E8%BB%8A%E9%81%8B%E8%BC%B8%E6%9C%8D%E5%8B%99) Trucking services revenue was approximately SGD 13.9 million for the six months ended June 30, 2025, a 14.9% year-on-year increase, driven by sustained customer demand, market expansion, and enhanced operational capabilities - Trucking services revenue was approximately **SGD 13.9 million** (2024: SGD 12.1 million), representing a **14.9% increase**[34](index=34&type=chunk) - The revenue growth was primarily due to sustained customer demand for trucking services, reflecting the Company's expanding market position and enhanced operational capabilities[34](index=34&type=chunk) [Freight Forwarding Services](index=16&type=section&id=%E8%B2%A8%E9%81%8B%E4%BB%A3%E7%90%86%E6%9C%8D%E5%8B%99) Freight forwarding services revenue was approximately SGD 10.2 million for the six months ended June 30, 2025, a 25.5% year-on-year decrease, attributed to reduced import/export demand, economic uncertainty, global supply chain disruptions, and increased market competition - Freight forwarding services revenue was approximately **SGD 10.2 million** (2024: SGD 13.7 million), representing a **25.5% decrease**[35](index=35&type=chunk) - The revenue decrease was mainly due to reduced import and export freight demand in the first half of 2025, with economic uncertainty and global supply chain disruptions negatively impacting trade volumes[35](index=35&type=chunk) - Increased competition in the freight forwarding market further pressured prices and margins[35](index=35&type=chunk) [Value-Added Transportation Services](index=16&type=section&id=%E5%A2%9E%E5%80%BC%E9%81%8B%E8%BC%B8%E6%9C%8D%E5%8B%99) Value-added transportation services revenue was approximately SGD 5.5 million for the six months ended June 30, 2025, a slight 1.8% year-on-year decrease, influenced by land area for container storage, throughput, and service complexity, with overall stable service levels and customer demand - Value-added transportation services revenue was approximately **SGD 5.5 million** (2024: SGD 5.6 million), representing a **slight 1.8% decrease**[36](index=36&type=chunk)[37](index=37&type=chunk) - This revenue stream is primarily influenced by the land area available for storing containers, as well as the throughput and complexity of transportation services provided[37](index=37&type=chunk) [Gross Profit and Gross Profit Margin](index=17&type=section&id=%E6%AF%9B%E5%88%A9%E5%8F%8A%E6%AF%9B%E5%88%A9%E7%8E%87) For the six months ended June 30, 2025, the Group's gross profit was approximately SGD 9.7 million with a gross profit margin of 32.9%, remaining relatively stable compared to the prior year (SGD 10.3 million, 32.8%). Trucking services saw a margin decrease, freight forwarding an increase, and value-added services a decrease - The Group's gross profit was approximately **SGD 9.7 million** (2024: SGD 10.3 million), with a gross profit margin of approximately **32.9%** (2024: 32.8%)[38](index=38&type=chunk)[39](index=39&type=chunk) - Trucking services gross profit margin decreased from **38.0% to 35.6%**, mainly due to increased competition and rising costs[39](index=39&type=chunk) - Freight forwarding services gross profit margin increased from **29.9% to 33.7%**, driven by improved pricing strategies and enhanced operational efficiency[39](index=39&type=chunk) - Value-added transportation services gross profit margin decreased from **28.6% to 24.6%**, primarily due to rising operating costs and lower utilization of warehousing facilities[39](index=39&type=chunk) [Other Income](index=18&type=section&id=5%20%E5%85%B6%E4%BB%96%E6%94%B6%E5%85%A5) For the six months ended June 30, 2025, the Group's other income was approximately SGD 0.5 million, a decrease from SGD 1.0 million in the prior year, primarily related to government grants, interest income, and investment property rental income - The Group's other income was approximately **SGD 0.5 million** (2024: SGD 1.0 million)[40](index=40&type=chunk) - Other income is primarily related to government grants, interest income, and investment property rental income[40](index=40&type=chunk) [Other Gains and Losses](index=18&type=section&id=6%20%E5%85%B6%E4%BB%96%E6%94%B6%E7%9B%8A%E5%8F%8A%E虧%E6%90%8D) For the six months ended June 30, 2025, the Group recorded other losses of approximately SGD 0.3 million, compared to gains of approximately SGD 0.2 million in the prior year, mainly due to increased net foreign exchange losses - The Group's other gains and losses amounted to approximately **SGD 0.3 million loss** (2024: SGD 0.2 million gain)[41](index=41&type=chunk) - The shift from gain to loss was mainly due to increased net foreign exchange losses for the six months ended June 30, 2025[41](index=41&type=chunk) [Administrative Expenses](index=18&type=section&id=%E8%A1%8C%E6%94%BF%E9%96%8B%E6%94%AF) For the six months ended June 30, 2025, administrative expenses significantly increased to SGD 10.7 million from SGD 7.3 million in the prior year, primarily due to one-off strategic expenses like financial advisor appointments for business spin-off feasibility, client management service handover, and the company's 30th-anniversary celebration - The Group's administrative expenses were approximately **SGD 10.7 million** (2024: SGD 7.3 million)[42](index=42&type=chunk) - The increase in administrative expenses was mainly due to one-off strategic expenses incurred during the period, including the appointment of financial advisors to assess the feasibility of a freight forwarding business spin-off[42](index=42&type=chunk)[43](index=43&type=chunk) - Additional consultancy costs and expenses related to the Group's 30th-anniversary celebration also contributed to the increase in administrative expenses[43](index=43&type=chunk) [Income Tax Expense](index=19&type=section&id=9%20%E6%89%80%E5%BE%97%E7%A8%85%E9%96%8B%E6%94%AF) For the six months ended June 30, 2025, the Group's income tax expense was approximately SGD 0.5 million, consistent with the prior year, primarily for corporate income tax under Singapore tax regulations - The Group's income tax expense was approximately **SGD 0.5 million** (2024: SGD 0.5 million)[44](index=44&type=chunk) - As operations are based in Singapore, the Group is subject to corporate income tax under Singapore's tax regulations[44](index=44&type=chunk) [Loss/Profit for the Period](index=19&type=section&id=%E6%9C%9F%E5%85%A7%EF%BC%88%E虧%E6%90%8D%EF%BC%89%EF%BC%8F%E6%BA%A2%E5%88%A9) The Group recorded a loss of SGD 1.57 million, compared to a profit of SGD 3.26 million in the prior year. Net profit margin decreased from 10.5% to 5.3%. The loss was primarily due to decreased market demand, rising operating costs, reduced other income, and increased operating expenses - The Group recorded a **loss of SGD 1.57 million** (2024: profit of SGD 3.26 million)[45](index=45&type=chunk) - The decrease in net profit was mainly due to lower market demand, rising operating costs, reduced other income, and increased operating expenses[45](index=45&type=chunk) - The Group's net profit margin decreased from approximately **10.5%** for the six months ended June 30, 2024, to approximately **5.3%** for the six months ended June 30, 2025[45](index=45&type=chunk) [Liquidity and Capital Resources](index=20&type=section&id=%E6%B5%81%E5%8B%95%E8%B3%87%E9%87%91%E5%8F%8A%E8%B3%87%E6%9C%AC%E8%B3%87%E7%94%A2) This section details the Group's liquidity management, gearing ratio, foreign currency risk, asset pledges, and future plans for investments and capital assets [Liquidity](index=20&type=section&id=%E6%B5%81%E5%8B%95%E8%B3%87%E9%87%91) The Group's working capital needs are primarily financed through funds generated from operations and bank borrowings. As of June 30, 2025, bank balances and cash were approximately SGD 12.1 million, a decrease from SGD 14.47 million as of December 31, 2024. Bank financing credit facilities were approximately SGD 0.3 million - Working capital requirements are financed through a combination of funds generated from operations and bank borrowings[47](index=47&type=chunk) - As of June 30, 2025, bank balances and cash amounted to approximately **SGD 12.1 million** (December 31, 2024: SGD 14.47 million)[47](index=47&type=chunk) - As of June 30, 2025, the Group's bank financing credit facilities amounted to approximately **SGD 0.3 million** (December 31, 2024: SGD 0.4 million)[48](index=48&type=chunk) [Gearing Ratio](index=21&type=section&id=%E8%B2%A0%E5%82%B5%E6%AF%94%E7%8E%87) As of June 30, 2025, the Group's gearing ratio was approximately 22.5%, a decrease from 27.7% as of December 31, 2024, primarily due to reduced bank borrowings and lease liabilities, indicating strengthened capital structure and lower financial leverage - As of June 30, 2025, the Group's gearing ratio was approximately **22.5%** (December 31, 2024: 27.7%)[49](index=49&type=chunk) - The decrease in the gearing ratio was mainly due to a reduction in bank borrowings and lease liabilities, indicating the Group's continuous efforts to strengthen its capital structure and reduce financial leverage[49](index=49&type=chunk) [Foreign Currency Exchange Risk](index=21&type=section&id=%E5%A4%96%E5%B9%A3%E5%8C%AF%E5%85%8C%E9%A2%A8%E9%9A%AA) The Group primarily transacts in Singapore Dollars and currently has no foreign currency hedging policy, but maintains a conservative approach to minimize exchange rate fluctuation risks - The Group primarily transacts in Singapore Dollars, which is the functional currency for all of the Group's operating subsidiaries[50](index=50&type=chunk) - The Group currently has no foreign currency hedging policy but adopts a conservative approach to foreign currency management to ensure that the risk of foreign currency exchange rate fluctuations is minimized[50](index=50&type=chunk) [Pledge of Assets](index=21&type=section&id=%E8%B3%87%E7%94%A2%E6%8A%B5%E6%8A%BC) As of June 30, 2025, approximately SGD 0.3 million in deposits were pledged to a financial institution as security for letter of credit facilities - **SGD 0.3 million** (December 31, 2024: SGD 0.4 million) in deposits were pledged to a financial institution as security for letter of credit facilities[51](index=51&type=chunk) [Material Investments, Material Acquisitions and Disposals of Subsidiaries, Associates or Joint Ventures](index=21&type=section&id=%E9%87%8D%E5%A4%A7%E6%8A%95%E8%B3%87%E3%80%81%E9%87%8D%E5%A4%A7%E6%94%B6%E8%B3%BC%E5%8F%8A%E5%87%BA%E5%94%AE%E9%99%84%E5%B1%AC%E5%85%AC%E5%8F%B8%E3%80%81%E8%81%AF%E7%87%9F%E5%85%AC%E5%8F%B8%E6%88%96%E5%90%88%E7%87%9F%E4%BC%81%E6%A5%AD) For the six months ended June 30, 2025, the Group held no material investments, acquisitions, or disposals of subsidiaries, associates, or joint ventures - For the six months ended June 30, 2025, the Group held no material investments, material acquisitions, or disposals of subsidiaries, associates, or joint ventures[52](index=52&type=chunk) [Future Plans for Material Investments and Capital Assets](index=21&type=section&id=%E9%87%8D%E5%A4%A7%E6%8A%95%E8%B3%87%E5%8F%8A%E8%B3%87%E6%9C%AC%E8%B3%87%E7%94%A2%E7%9A%84%E6%9C%AA%E4%BE%86%E8%A8%88%E5%8A%83) As of June 30, 2025, the Group had no future plans for material investments or capital assets other than those disclosed in the Company's prospectus dated December 30, 2020 - As of June 30, 2025, the Group had no other future plans for material investments or capital assets other than those disclosed in the Company's prospectus dated December 30, 2020[53](index=53&type=chunk) [Use of Net Proceeds](index=23&type=section&id=%E6%89%80%E5%BE%97%E6%AC%BE%E9%A0%85%E6%B7%A8%E9%A1%8D%E7%94%A8%E9%80%94) The Group has fully utilized the net proceeds of HKD 41.5 million from its listing, primarily for expanding the trucking services fleet, increasing freight forwarding services, working capital, purchasing pallet racking systems, and acquiring properties - The net proceeds from the Company's listing were approximately **HKD 41.5 million** (equivalent to approximately SGD 7.2 million)[58](index=58&type=chunk) - The Board resolved to change the use of unutilized net proceeds to enhance utilization, avoid rental expenses, and generate other income[58](index=58&type=chunk) Use of Net Proceeds | Intended Use of Net Proceeds | Original Allocation (HKD million) | Revised Allocation (HKD million) | Net Proceeds Utilized as of June 30, 2025 (HKD million) | | :--- | :--- | :--- | :--- | | Strategic acquisitions | 17.7 | — | — | | Expansion of the fleet for the trucking services segment | 16.5 | 16.5 | (16.5) | | Increase and strengthen our freight forwarding services segment | 2.5 | 2.5 | (2.5) | | Working capital and other general corporate purposes | 0.2 | 0.2 | (0.2) | | Purchase of pallet racking systems | 4.6 | 4.6 | (4.6) | | Acquisition of properties | — | 17.7 | (17.7) | | **Total** | **41.5** | **41.5** | **(41.5)** | - As of June 30, 2025, the Group had fully utilized the net proceeds[59](index=59&type=chunk) [Other Information](index=22&type=section&id=%E5%85%B6%E4%BB%96%E8%B3%87%E6%96%99) This section covers additional information regarding the Group's employees, share schemes, capital commitments, contingent liabilities, significant events, compliance, corporate governance, and publication details [Employees](index=22&type=section&id=%E5%93%A1%E5%B7%A5) As of June 30, 2025, the Group had 229 employees, with total staff costs of approximately SGD 7.2 million. The company regularly reviews compensation policies and provides training to attract and retain high-quality staff - As of June 30, 2025, the Group had **229 employees** (December 31, 2024: 227 employees)[54](index=54&type=chunk) - Total staff costs for the six months ended June 30, 2025, amounted to approximately **SGD 7.2 million** (2024: SGD 5.6 million)[54](index=54&type=chunk) - The Group regularly reviews its employees' remuneration policies and benefits and provides adequate job training to attract and retain high-quality employees[54](index=54&type=chunk) [Share Option Scheme and Share Award Scheme](index=22&type=section&id=%E8%B3%BC%E8%82%A1%E6%AC%8A%E8%A8%88%E5%8A%83%E5%8F%8A%E8%82%A1%E4%BB%BD%E7%8D%8E%E5%8B%B5%E8%A8%88%E5%8A%83) As of the announcement date, the Group has no share option scheme or share award scheme under Chapter 17 of the Listing Rules - As of the date of this announcement, the Group has no share option scheme or share award scheme under Chapter 17 of the Listing Rules[55](index=55&type=chunk) [Capital Commitments](index=22&type=section&id=%E8%B3%87%E6%9C%AC%E6%89%BF%E6%93%94) As of June 30, 2025, the Group had capital commitments of approximately SGD 7.2 million for the acquisition of property, plant, and equipment - As of June 30, 2025, the Group had capital commitments of approximately **SGD 7.2 million** (December 31, 2024: nil) for the acquisition of property, plant and equipment[56](index=56&type=chunk) [Contingent Liabilities](index=22&type=section&id=%E6%88%96%E7%84%B6%E8%B2%A0%E5%82%B5) As of June 30, 2025, the Group had no material contingent liabilities - As of June 30, 2025, the Group had no material contingent liabilities (December 31, 2024: nil)[57](index=57&type=chunk) [Significant Events](index=24&type=section&id=%E9%87%8D%E5%A4%A7%E4%BA%8B%E4%BB%B6) Rejoice Container Services (Pte) Ltd, a wholly-owned subsidiary, entered into construction contracts totaling SGD 7,380,000 with Soon He Construction Pte. Ltd. for the construction and addition/alteration of a three-story single-user industrial building - Rejoice Container Services (Pte) Ltd entered into an initial construction contract with Soon He Construction Pte. Ltd. for a total of **SGD 5,408,000** for the construction of a new three-story single-user industrial building[60](index=60&type=chunk) - Subsequently, an additional construction contract was entered into for a total of **SGD 1,972,000** for additions and alterations to the building[60](index=60&type=chunk) - The initial and additional construction contracts (on a combined basis) constitute a major transaction for the Company[60](index=60&type=chunk) [Compliance with the Model Code for Securities Transactions by Directors of Listed Issuers](index=24&type=section&id=%E9%81%B5%E5%AE%88%E4%B8%8A%E5%B8%82%E7%99%BC%E8%A1%8C%E4%BA%BA%E8%91%A3%E4%BA%8B%E9%80%B2%E8%A1%8C%E8%AD%89%E5%88%B8%E4%BA%A4%E6%98%93%E4%B9%8B%E6%A8%99%E6%BA%96%E5%AE%88%E5%89%87) Following specific inquiries, all Directors have complied with the Model Code for Securities Transactions by Directors of Listed Issuers as set out in Appendix C3 of the Listing Rules from the listing date to the announcement date - The Company has adopted the Model Code as set out in Appendix C3 of the Listing Rules[61](index=61&type=chunk) - All Directors have complied with the required standards of conduct and the Model Code from the listing date up to the date of this announcement[61](index=61&type=chunk) [Corporate Governance](index=24&type=section&id=%E4%BC%81%E6%A5%AD%E7%AE%A1%E6%B2%BB) The Company complied with the Corporate Governance Code during the period, except for the non-segregation of Chairman and CEO roles, both held by Mr. Wong Chun Hing. The Board believes this structure provides strong, consistent leadership for effective business planning and execution, and will be reviewed periodically - The Company complied with the Corporate Governance Code in Appendix C1 of the Listing Rules, except for the non-segregation of the roles of Chairman and Chief Executive Officer[62](index=62&type=chunk)[63](index=63&type=chunk) - Mr. Wong Chun Hing holds the positions of Chairman, Executive Director, and Chief Executive Officer of the Company[63](index=63&type=chunk) - The Board believes this structure provides strong and consistent leadership for the Group, facilitating effective and efficient planning and execution of business decisions and strategies[63](index=63&type=chunk) [Purchase, Sale or Redemption of the Company's Listed Securities](index=25&type=section&id=Purchase%2C%20Sale%20or%20Redemption%20of%20the%20Company%27s%20Listed%20Securities) Neither the Company nor any of its subsidiaries purchased, sold, or redeemed any of the Company's listed securities during the six months ended June 30, 2025, and up to the announcement date - Neither the Company nor any of its subsidiaries purchased, sold, or redeemed any of the Company's listed securities[65](index=65&type=chunk) [Sufficiency of Public Float](index=25&type=section&id=%E5%85%85%E8%B6%B3%E5%85%AC%E7%9C%BE%E6%8C%81%E8%82%A1%E9%87%8F) Based on publicly available information and to the best of the Directors' knowledge, the Company maintained a sufficient public float of its shares in accordance with Listing Rules during the six months ended June 30, 2025, and up to the announcement date - The Directors confirm that the Company maintained a sufficient public float of its shares in accordance with the Listing Rules[66](index=66&type=chunk) [Audit Committee](index=26&type=section&id=%E5%AF%A9%E6%A0%B8%E5%A7%94%E5%93%A1%E6%9C%83) The Audit Committee reviewed the Group's unaudited consolidated financial statements for the six months ended June 30, 2025, discussed accounting principles with management, and deemed the results prepared in compliance with applicable accounting standards, requirements, and Listing Rules, with adequate disclosures - The Audit Committee has reviewed the Group's unaudited consolidated financial statements for the six months ended June 30, 2025[67](index=67&type=chunk) - The Audit Committee believes that the results were prepared in compliance with applicable accounting standards and requirements, as well as the Listing Rules, and that adequate disclosures have been made[67](index=67&type=chunk) [Publication of Interim Results Announcement and Interim Report](index=26&type=section&id=%E5%88%8A%E7%99%BC%E4%B8%AD%E6%9C%9F%E6%A5%AD%E7%B8%BE%E5%85%AC%E5%91%8A%E5%8F%8A%E4%B8%AD%E6%9C%9F%E5%A0%B1%E5%91%8A) This announcement is published on the HKEX website www.hkexnews.hk and the Company's website www.legionconsortium.com. The Company's interim report for the six months ended June 30, 2025, will be dispatched to shareholders and published on the aforementioned websites in due course - This announcement is published on the HKEX website and the Company's website[68](index=68&type=chunk) - The Company's interim report for the six months ended June 30, 2025, will be dispatched to the Company's shareholders and published on the aforementioned websites in due course[68](index=68&type=chunk) [Board of Directors](index=26&type=section&id=%E8%91%A3%E4%BA%8B%E6%9C%83) This section outlines the composition of the Company's Board of Directors, including its Executive and Independent Non-executive Directors, and the dual role held by Mr. Wong Chun Hing as Chairman, CEO, and Executive Director [Board of Directors](index=26&type=section&id=%E8%91%A3%E4%BA%8B%E6%9C%83) The Company's Board comprises three Executive Directors (Mr. Wong Chun Hing, Mr. Wong Hong Hock, and Ms. Fan Jia Si) and three Independent Non-executive Directors (Mr. Yeo Teck Chuan, Mr. Ho Wing Sum, and Mr. Chiu Ka Kai). Mr. Wong Chun Hing also serves as Chairman, CEO, and Executive Director - The Board includes three Executive Directors: Mr. Wong Chun Hing, Mr. Wong Hong Hock, and Ms. Fan Jia Si[70](index=70&type=chunk) - The Board includes three Independent Non-executive Directors: Mr. Yeo Teck Chuan, Mr. Ho Wing Sum, and Mr. Chiu Ka Kai[70](index=70&type=chunk) - Mr. Wong Chun Hing serves as Chairman, Chief Executive Officer, and Executive Director[69](index=69&type=chunk)

Core Viewpoint - LEGION CONSO (02129.HK) will hold a board meeting on August 27, 2025, to consider and approve the interim results announcement for the six months ending June 30, 2025, as well as the payment of an interim dividend, if any [1] Summary by Relevant Categories - **Company Announcement** - The board meeting is scheduled for August 27, 2025 [1] - The meeting will focus on the interim results for the six months ending June 30, 2025 [1] - The board will also consider the payment of an interim dividend [1]

（於開曼群島註冊成立之有限公司） 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。 Legion Consortium Limited Legion Consortium Limited 主席、行政總裁兼執行董事 黃春興 香港，二零二五年八月十五日 （股份代號：2129） 董事會會議日期 Legion Consortium Limited（「本公司」）董事（「董事」）會（「董事會」）謹此宣佈，本公 司將於二零二五年八月二十七日（星期三）舉行董事會會議，藉以考慮及批准（其中 包括）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的中期業績公告， 以及派付中期股息（如有）。 於本公告日期，董事會包括三名執行董事黃春興先生、黃康福先生及范佳思女士；及三名獨立非執 行董事何永深先生、楊德泉先生及趙家凱先生。 承董事會命 ...

Core Viewpoint - LEGION CONSO (02129.HK) is expected to report a loss of approximately 1.57 million Singapore dollars for the six months ending June 30, 2025, compared to a profit of about 3.27 million Singapore dollars in the same period last year [1] Summary by Relevant Categories Financial Performance - The anticipated loss is primarily attributed to a significant decrease in sales of truck transportation and freight forwarding services due to reduced market demand [1] - The company is facing increased operating costs, including maintenance and logistics-related expenses, which have compressed profit margins and impacted profitability [1] - Other income has decreased, particularly from reduced interest income on fixed deposits and the effects of foreign exchange fluctuations [1] - Operating expenses have risen, including additional professional fees, bank charges, and other administrative costs [1]

Core Viewpoint - LEGION CONSO (02129) anticipates a loss attributable to shareholders of approximately 1.57 million Singapore dollars for the six months ending June 30, 2025, compared to a profit of about 3.27 million Singapore dollars in the same period last year [1] Summary by Relevant Categories Financial Performance - The expected loss is primarily due to a significant decrease in sales of truck transportation and freight forwarding services caused by reduced market demand [1] - The company experienced an increase in operating costs, including maintenance and logistics-related expenses, which compressed profit margins and affected overall profitability [1] - Other income has decreased, particularly from interest income on fixed deposits and the impact of foreign exchange fluctuations [1] - Operating expenses have risen, including additional professional fees, bank charges, and other administrative costs [1]

Core Viewpoint - LEGION CONSO (02129) is expected to report a loss of approximately 1.57 million Singapore dollars for the six months ending June 30, 2025, compared to a profit of 3.27 million Singapore dollars in the same period last year [1] Summary by Relevant Categories Financial Performance - The anticipated loss is primarily attributed to a significant decrease in sales of truck transportation and freight forwarding services due to reduced market demand [1] - The company is facing increased operating costs, including maintenance and logistics-related expenses, which have compressed profit margins and impacted profitability [1] Revenue Sources - There has been a reduction in other income, particularly from interest income on fixed deposits and the impact of foreign exchange fluctuations [1] Operating Expenses - Operating expenses have risen, including additional professional fees, bank charges, and other administrative costs [1]

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。 – 1 – (i) 市場需求減少，導致貨車運輸及貨運代理服務銷量大幅減少； (ii) 營運成本增加，包括維修及物流相關開支，導致利潤率被壓縮且影響盈利能 力； (iii) 其他收入減少，特別是定期存款利息收入減少及外匯波動的影響；及 本公告乃由Legion Consortium Limited（「本公司」，連同其附屬公司為「本集團」）根 據香港聯合交易所有限公司證券上市規則（「上市規則」）第13.09條及根據證券及期 貨條例（香港法例第571章）第XIVA部項下內幕消息條文作出。 本公司董事（「董事」）會（「董事會」）謹此通知本公司股東及潛在投資者，基於其對本 集團截至二零二五年六月三十日止六個月未經審核綜合管理賬目的初步審閱，預計 截至二零二五年六月三十日止六個月錄得本公司擁有人應佔虧損約 1.57百萬新加坡 元，而上年同期錄得本公司擁有人應佔溢利約3.27百萬新加坡元。預期虧損主要由 於： (iv) ...

Core Viewpoint - LEGION CONSO (02129.HK) announced an additional construction contract with Soon He Construction Pte. Ltd. for extra building works on a newly constructed three-story single-user industrial building, with a total contract value of SGD 1.972 million (excluding goods and services tax) [1] Group 1 - The additional construction contract is signed on August 8, 2025 [1] - The contract involves both expansion and renovation works [1] - The total value of the additional contract is SGD 1.972 million [1]

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。 Legion Consortium Limited （於開曼群島註冊成立的有限公司） 茲 提 述 本 公 司 日 期 為 二 零 二 五 年 一 月 十 日 之 公 告（「先前公告 」），Rejoice Container與承包商訂立一份初始建築合約，內容有關新建一幢三層單一用戶工業 樓宇之初始建築工程，初始合約總額為5,408,000新加坡元。 上市規則涵義 （股份代號：2129） 主要交易 有關額外建築合約 建築合約 董事會宣佈，於二零二五年八月八日（交易時段後），本公司全資附屬公司 Rejoice Container與承包商訂立額外建築合約，據此，承包商同意進行額外建築工程， 以對一幢新建的三層單一用戶工業樓宇進行加建及改建工作，額外合約總額為 1,972,000新加坡元（不包括商品及服務稅）。 由於額外建築合約及初始建築合約（相關詳情披露於先前公告）均為於12個月內與 同一承包商訂立，且涉及同一資 ...