FAR International Holdings Group Company Limited 泛遠國際控股集團有限公司 FAR International Holdings Group Company Limited 泛遠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 : 2516 年 報 2024 ANNUAL REPORT 2024 年報 | 目錄 | | | --- | --- | | 公司概要 | 2 | | 公司資料 | 3 | | 公司資料 | 3 | | --- | --- | | 主席報告 | 5 | | 管理層討論及分析 | 6 | | 董事及高級管理層 | 16 | | 董事會報告 | 22 | | 企業管治報告 | 37 | | 獨立核數師報告 | 61 | | 綜合損益及其他全面收益表 | 66 | | 綜合財務狀況表 | 67 | | 綜合權益變動表 | 69 | | 綜合現金流量表 | 70 | | 綜合財務報表附註 | 72 | | 財務概要 | 133 | | 釋義 | 135 | (Incorporated in the Cayman Islands w ...

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。 FAR International Holdings Group Company Limited 泛遠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：2516） 截至2024年12月31日止年度之年度業績公告 泛遠國際控股集團有限公司（「本公司」）董事（「董事」）會（「董事會」）欣然宣佈 本公司及其附屬公司（統稱「本集團」）截至2024年12月31日止年度（「2024財政年 度」或「報告期」）的經審核綜合業績，連同截至2023年12月31日止年度（「2023財 政年度」）之比較數字如下： – 1 – 綜合損益及其他全面收益表 泛遠國際控股集團有限公司（「本公司」）於2022年11月24日根據開曼群島公 司法（經修訂）於開曼群島註冊成立為獲豁免有限公司，而其股份已於香 港聯合交易所有限公司（「聯交所」）主板上市。其直接及最終控股公司為 子越控股有限公司（「子越」），該公司為一間於英屬處 ...

Investment Rating - The report does not explicitly mention an investment rating for the company [1][2][3] Core Viewpoints - The company, Fan Yuan International (2516, HK), is a comprehensive cross-border e-commerce logistics solutions provider, focusing on integrating overseas supply chains and improving overall efficiency [4] - The company has a global logistics network and advanced technology platforms, offering services such as international express delivery, international dedicated lines, and overseas warehousing [4] - Fan Yuan International has strategically positioned itself in key regions like North America, Europe, and Southeast Asia, with multiple self-operated overseas warehouses and partnerships with local logistics providers [4] - The company has recently acquired a 30% stake in Advanced Logistics Solutions LLC (ALS) for USD 635,318.4 (approximately HKD 4,930,070.8), which is expected to enhance its efficiency in customs clearance, sorting, and cost control in the US [5] - The company leverages its self-developed logistics management system (WMS/TMS) to improve operational efficiency, reduce logistics costs, and enhance customer experience through real-time tracking and data-driven optimization [6] - Fan Yuan International's core customer base includes large sellers on platforms like Amazon, eBay, and AliExpress, as well as brand e-commerce companies with independent websites [7] - The company benefits from its partnership with Alibaba, which holds an 8.60% stake, providing logistics solutions for Alibaba's cross-border e-commerce platforms like AliExpress and Lazada [7][10] - The company has shown strong growth in 2024 H1, with revenue reaching RMB 1.428 billion, a 111.89% YoY increase, and net profit of RMB 38.06 million, a 235.86% YoY increase [13][14] Business Performance - In 2024 H1, the company's end-to-end cross-border delivery service revenue reached approximately RMB 649 million, a 9.97% YoY increase, driven by optimized delivery routes and improved supplier management [14] - Freight forwarding service revenue surged to RMB 315 million, a 678.40% YoY increase, primarily due to the growth in air freight services [14] - Other logistics services revenue reached RMB 464 million, a 966.51% YoY increase, mainly from customs clearance and delivery services [14] Industry and Policy Support - The cross-border e-commerce logistics market is experiencing strong demand due to the increasing global e-commerce penetration rate [11] - The Chinese government has introduced a series of policies to support the development of cross-border e-commerce, including infrastructure construction, technological innovation support, tax incentives, and customs facilitation [11][12] - These policies are expected to provide significant growth momentum for Fan Yuan International, helping it expand its market share in the cross-border e-commerce logistics sector [11] Shareholder Structure - The largest shareholder is Quan Wanq, holding 28.36% of the shares [10] - Alibaba.com Holding Limited holds an 8.60% stake, with a recent increase of 6,704,170 shares [10] - Other significant shareholders include Hangzhou Gongshu State-Owned Investment Group Co., Ltd (5.83%) and Gensis FAR Holdings Limited (5.38%) [10]

Financial Performance - Revenue for the six months ended June 30, 2024, reached RMB 1,427,976,000, representing a 111.89% increase compared to RMB 673,910,000 in the same period of 2023[17] - Gross profit for the same period was RMB 104,799,000, up 92.45% from RMB 54,455,000 year-on-year[17] - Profit before tax surged by 185.09% to RMB 40,041,000, compared to RMB 14,045,000 in the previous year[18] - Net profit for the period increased by 248.65% to RMB 38,062,000, compared to RMB 10,917,000 in the same period last year[19] - The profit attributable to owners of the company for the first half of 2024 was approximately RMB 38.09 million, representing a growth of about 235.86% year-on-year[30] - The company reported a profit of approximately RMB 38.06 million for the six months ended June 30, 2024, an increase of approximately 248.65% from RMB 10.92 million for the same period in 2023, driven by revenue and gross profit growth[43] - Adjusted net profit (non-HKFRS measure) for the six months ended June 30, 2024, was approximately RMB 38.06 million, a 77.39% increase from RMB 21.46 million for the same period in 2023, mainly due to the increase in profit and no listing expenses recorded[45] - The total comprehensive income for the period was RMB 38,556 thousand, up from RMB 16,216 thousand in 2023, indicating an increase of 138.5%[90] - The company reported a net profit of RMB 38,093 for the six months ended June 30, 2024, compared to RMB 11,342 in the same period of 2023, indicating a growth of 235%[112] Assets and Liabilities - Total assets as of June 30, 2024, amounted to RMB 1,392,127,000, a 15.33% increase from RMB 1,207,114,000 at the end of 2023[26] - Total liabilities increased by 26.37% to RMB 701,928,000 from RMB 555,471,000[26] - Net asset value rose by 5.92% to RMB 690,199,000, compared to RMB 651,643,000 in the previous year[26] - Trade receivables and notes receivable amounted to approximately RMB 620.46 million as of June 30, 2024, a 27.11% increase from RMB 488.12 million as of December 31, 2023, aligned with revenue growth[47] - Trade payables decreased by approximately 47.91% to RMB 121.12 million as of June 30, 2024, from RMB 232.52 million as of December 31, 2023, due to timely payments[48] - The company's current assets net value was approximately RMB 508.75 million as of June 30, 2024, compared to RMB 468.84 million as of December 31, 2023[49] - The debt-to-equity ratio increased to approximately 76.74% as of June 30, 2024, from 41.36% as of December 31, 2023, primarily due to increased bank borrowings[50] Revenue Breakdown - Revenue from end-to-end cross-border delivery services in the first half of 2024 was approximately RMB 648.71 million, a growth of about 9.97% compared to RMB 589.91 million in the same period of 2023[35] - Revenue from freight forwarding services surged to approximately RMB 315.07 million, an increase of about 678.40% from RMB 40.48 million in the same period of 2023[35] - Revenue from other logistics services reached approximately RMB 464.20 million, a significant increase of about 966.51% compared to RMB 43.53 million in the same period of 2023[35] - Revenue from mainland China for the six months ended June 30, 2024, reached RMB 1,386,260, a significant increase from RMB 586,726 in the same period of 2023, representing a growth of 136%[105] Cash Flow and Financing - For the six months ended June 30, 2024, the company reported a net cash outflow from operating activities of RMB (199,354) thousand, compared to RMB (58,902) thousand for the same period in 2023, indicating a significant increase in cash used in operations[94] - The company recorded a net cash inflow from financing activities of RMB 254,339 thousand for the six months ended June 30, 2024, compared to RMB 54,011 thousand in the same period of 2023, reflecting increased borrowing[94] - Cash and cash equivalents at the end of the period were RMB 398,691 thousand, up from RMB 231,448 thousand at the end of June 30, 2023, showing improved liquidity[94] - The company incurred a net cash outflow from investing activities of RMB (65,827) thousand, compared to RMB (3,573) thousand in the same period of 2023, indicating increased investment expenditures[94] Strategic Focus and Future Plans - The company aims to expand its logistics services in key trade centers across China, including Zhejiang, Shanghai, Guangdong, and Hong Kong[9] - The company is focused on enhancing its supply chain solutions tailored to customer needs, including freight forwarding and last-mile delivery[9] - Future strategies include leveraging partnerships with suppliers to improve service offerings across the logistics value chain[9] - The company plans to allocate 81.9% of the net proceeds to expand its business scope, including establishing new service points in China (47.0%) and upgrading existing service points (34.9%) by June 30, 2025[58] - The company plans to continue expanding its market presence and exploring new strategies for growth[120] - The company aims to expand its market presence and enhance its product offerings in the upcoming quarters[134] Corporate Governance - The company established an audit committee consisting of three independent non-executive directors as of June 30, 2024[71] - The audit committee reviewed the unaudited interim results for the six months ended June 30, 2024, ensuring compliance with applicable accounting standards and regulations[71] - The audit committee's main functions include overseeing the financial reporting system, risk management, and internal control systems[71] - The company has adopted a standard code for securities trading by directors, confirming compliance during the reporting period[68] Shareholder Information - As of June 30, 2024, the total number of issued shares was 780,000,000, with significant shareholdings including Mr. Wang holding 263,189,164 shares (33.74%) and Mr. Yang holding 11,239,147 shares (1.44%)[72][73] - The major shareholders include Ziyue with 221,213,154 shares (28.36%) and Tianyuan with 41,976,010 shares (5.38%) as of June 30, 2024[76] - The company did not recommend any interim dividend for the six months ended June 30, 2024, consistent with the previous year[66] Compliance and Regulatory Matters - The company is committed to adhering to the listing rules and regulations set by the Hong Kong Stock Exchange[134] - The financial statements were reviewed in accordance with Hong Kong Accounting Standards[4] - No significant issues were found that would indicate the financial statements were not prepared in accordance with the relevant standards[4]

Financial Performance - Revenue for the six months ended June 30, 2024, was RMB 1,427,976 thousand, an increase of 7.9% compared to RMB 1,323,177 thousand for the same period in 2023[2] - Gross profit for the same period was RMB 104,799 thousand, compared to RMB 54,455 thousand in 2023, reflecting a significant increase[2] - Profit before tax increased to RMB 40,041 thousand, up from RMB 14,045 thousand in the previous year, marking a growth of 185.5%[2] - Net profit for the period was RMB 38,062 thousand, compared to RMB 10,917 thousand in 2023, representing a year-on-year increase of 248.5%[2] - Basic and diluted earnings per share for the period were RMB 4.88, compared to RMB 25.67 in the same period last year[2] - The company reported a net profit of RMB 38,093 thousand for the six months ended June 30, 2024, compared to RMB 11,342 thousand for the same period in 2023, showing an increase of about 235.5%[20] - Basic and diluted earnings per share for the period were RMB 48.8, up from RMB 18.3 in the previous year, indicating a growth of approximately 166.7%[20] - The company recorded a profit of approximately RMB 38.06 million for the six months ended June 30, 2024, an increase of approximately 248.65% from RMB 10.92 million for the same period in 2023, driven by revenue and gross profit growth[47] - Adjusted net profit (non-HKFRS measure) for the six months ended June 30, 2024, was approximately RMB 38.06 million, a 77.39% increase from approximately RMB 21.46 million for the same period in 2023, primarily due to the increase in profit[50] Revenue Breakdown - Total revenue for the six months ended June 30, 2024, reached RMB 1,427,976 thousand, a significant increase from RMB 673,910 thousand for the same period in 2023, representing a growth of approximately 111.2%[10] - Revenue from end-to-end cross-border delivery services was RMB 648,712 thousand, up from RMB 589,909 thousand, indicating a growth of about 9.9%[10] - Revenue from freight forwarding services surged to RMB 315,065 thousand, compared to RMB 40,476 thousand in the previous year, marking an increase of approximately 678.5%[10] - Revenue from other logistics services increased to RMB 464,199 thousand from RMB 43,525 thousand, reflecting a growth of around 964.5%[10] - Revenue from external customers in mainland China was RMB 1,386,260 thousand, a substantial rise from RMB 586,726 thousand, representing an increase of approximately 136.0%[14] Assets and Liabilities - Trade receivables increased to RMB 620,460 thousand as of June 30, 2024, up from RMB 488,120 thousand at the end of 2023, indicating a growth of 27.1%[3] - Total assets as of June 30, 2024, were RMB 1,207,630 thousand, compared to RMB 1,017,335 thousand at the end of 2023, reflecting a growth of 18.7%[3] - The company's net asset value increased to RMB 690,199 thousand from RMB 651,643 thousand at the end of 2023, an increase of 5.9%[4] - Trade payables decreased from RMB 232,523,000 as of December 31, 2023, to RMB 121,116,000 as of June 30, 2024, representing a reduction of approximately 48%[24] - Trade payables decreased by approximately 47.91% to approximately RMB 121.12 million as of June 30, 2024, from approximately RMB 232.52 million as of December 31, 2023, due to timely payments[52] Corporate Governance and Compliance - The company has adopted the corporate governance code and confirmed compliance with applicable provisions during the six months ended June 30, 2024[65] - The audit committee reviewed the unaudited interim results for the six months ended June 30, 2024, and confirmed compliance with applicable accounting standards and regulations[69] - The company maintained sufficient public float as of June 30, 2024, in accordance with listing rules[70] - The interim results announcement and mid-term report will be published on the Hong Kong Stock Exchange and the company's website[70] Employee and Operational Metrics - As of June 30, 2024, the total number of full-time employees was 477, an increase from 473 as of June 30, 2023[60] - Total employee costs for the six months ended June 30, 2024, were approximately RMB 387 million, compared to RMB 348 million for the same period in 2023, representing an increase of about 11.2%[60] - The company has implemented a training program for new employees to enhance their skills and knowledge related to daily operations[60] Financial Management and Risks - The company’s financial risk management policies are in place regarding the credit period for trade payables, which averages a maximum of 90 days[24] - The capital-to-debt ratio increased to approximately 76.74% as of June 30, 2024, from 41.36% as of December 31, 2023, primarily due to increased bank borrowings[55] - The company recorded bank interest income of RMB 2,798 thousand, an increase from RMB 2,216 thousand in the previous year, representing a growth of about 26.2%[16] Share Capital and Issuance - The company’s authorized share capital increased from HKD 7,800,000 to HKD 20,000,000, with a total of 1,920,000,000 shares issued as of December 31, 2023[26] - The company issued 140,000,000 new ordinary shares at a price of HKD 0.90 per share during its initial public offering, raising approximately RMB 114,486,000[26] - As of June 30, 2024, the total issued ordinary shares amounted to 780,000,000, with a total capital of HKD 7,800,000[27] - The net proceeds from the share issuance amounted to approximately RMB 587.9 million, which is lower than the RMB 800 million disclosed in the prospectus, with a shortfall of RMB 212.1 million[61] - The planned use of net proceeds includes 81.9% allocated for expanding the business scope, with RMB 655 million initially planned and RMB 481.5 million actually utilized as of June 30, 2024[62] Market Trends - The total import and export trade volume in China for the first half of 2024 was approximately RMB 21.17 trillion, a year-on-year growth of 6.1%[34] - Cross-border e-commerce trade volume in China reached approximately RMB 1.22 trillion, with a year-on-year increase of 10.5%[34] - The compound annual growth rate of China's cross-border e-commerce export trade volume is expected to reach about 16.40% from 2022 to 2025[37]

FAR International Holdings Group Company Limited ܇㑐४㢄ዂ⢰㢣ॲᕖ㡋Ռ 股份代號 : 2516 2023 年 報 | 目錄 | | --- | | 公司概要 | 2 | | --- | --- | | 公司資料 | 3 | | 主席報告 | 5 | | 管理層討論及分析 | 6 | | 董事及高級管理層 | 15 | | 董事會報告 | 21 | | 企業管治報告 | 35 | | 獨立核數師報告 | 57 | | 綜合損益及其他全面收益表 | 62 | | 綜合財務狀況表 | 63 | | 綜合權益變動表 | 65 | | 綜合現金流量表 | 66 | | 綜合財務報表附註 | 68 | | 財務概要 | 129 | | 釋義 | 131 | 公司概要 泛遠國際控股集團有限公司，一間於2022年11月24日在開曼群島註冊成立的獲豁免有限公司，並於2023 年12月22日在聯交所主板上市。 我們為知名的跨境電子商務物流服務供應商，總部設於中國，主要從事提供端到端跨境物流服務。我們 於2015年成為中國（杭州）跨境電子商務綜合試驗區首批試點企業。為抓住中國跨境電 ...

Financial Performance - The total revenue for the fiscal year 2023 reached RMB 2,045,883,000, representing a 63.3% increase from RMB 1,251,983,000 in 2022[3] - Gross profit for 2023 was RMB 156,962,000, up 50.0% from RMB 104,665,000 in 2022[3] - The net profit for the year was RMB 26,950,000, a 4.4% increase compared to RMB 25,797,000 in the previous year[3] - Earnings per share for 2023 were RMB 4.32, compared to RMB 3.25 in 2022, reflecting a 32.9% increase[3] - Adjusted net profit for the fiscal year 2023 was approximately RMB 54.93 million, with a budget fulfillment rate of 108.20%, reflecting a year-on-year increase of 40.76%[38] - The gross profit for the fiscal year 2023 was approximately RMB 156.96 million, an increase of about 49.97% from approximately RMB 104.67 million in the fiscal year 2022, although the gross margin slightly decreased from about 8.36% to 7.67%[43] - The net profit for the fiscal year 2023 was approximately RMB 26.95 million, a 4.47% increase from approximately RMB 25.80 million in the fiscal year 2022, mainly due to increased revenue and gross profit[49] Revenue Breakdown - Revenue from mainland China amounted to RMB 1,905.96 million in 2023, a significant increase from RMB 1,091.67 million in 2022, representing a growth of 74.4%[18] - Revenue from the United States increased to RMB 14.89 million in 2023, up from RMB 4.65 million in 2022, marking a growth of 220.4%[18] - The revenue from end-to-end cross-border delivery services was RMB 1,688,557,000, a 72.0% increase from RMB 980,436,000 in 2022[12] - In the fiscal year 2023, the end-to-end cross-border delivery service revenue reached approximately RMB 1.69 billion, achieving a budget attainment rate of 119.03%, representing a significant growth of about 72.23% compared to the fiscal year 2022[39] - The group's total revenue for the fiscal year 2023 was approximately RMB 2.05 billion, an increase of about 63.41% from approximately RMB 1.25 billion in the fiscal year 2022, primarily driven by the growth in end-to-end cross-border delivery and other logistics services[40] Assets and Liabilities - Total assets increased to RMB 1,017,335,000 in 2023, up from RMB 426,903,000 in 2022, representing a 138.5% growth[4] - The company reported a significant increase in trade receivables, which rose to RMB 488,120,000 from RMB 103,956,000, marking a 368.5% increase[4] - Trade receivables rose to RMB 511.41 million in 2023, compared to RMB 120.99 million in 2022, indicating a growth of 323.5%[31] - The company’s trade payables increased to RMB 232.52 million in 2023, compared to RMB 30.46 million in 2022, representing a growth of 663.5%[34] - Trade payables as of December 31, 2023, were approximately RMB 232.52 million, an increase of about 663.47% from approximately RMB 30.45 million as of December 31, 2022, driven by increased procurement[54] Cash Flow and Financing - The company’s cash and cash equivalents increased to RMB 409,046,000 from RMB 239,499,000, a rise of 70.9%[4] - The company reported a total of RMB 3.91 million in bank interest income for 2023, up from RMB 1.70 million in 2022, reflecting a growth of 130.5%[24] - The company incurred financing costs of RMB 4.47 million in 2023, a significant increase from RMB 0.91 million in 2022[25] - Financing costs rose from approximately RMB 0.91 million in the fiscal year 2022 to approximately RMB 4.47 million in the fiscal year 2023, marking an increase of about 389.81%[46] Equity and Dividends - The total equity attributable to the owners of the company increased to RMB 651,643,000 from RMB 508,805,000, reflecting a 28.0% growth[5] - The company did not declare or pay any dividends for the fiscal year 2023, consistent with 2022[28] - The board does not recommend a final dividend for the fiscal year 2023, consistent with the previous fiscal year[77] Corporate Governance and Compliance - The company has adopted the corporate governance code as per the listing rules and has complied with all applicable provisions since the listing date[78] - The audit committee has reviewed the audited consolidated financial statements for the fiscal year 2023, confirming compliance with all applicable accounting standards and listing rules[80] - The company maintained sufficient public float as of December 31, 2023, in accordance with listing rules[85] Future Plans and Projections - The company plans to continue expanding its logistics services and enhancing its operational capabilities in the coming fiscal year[7] - The planned use of proceeds includes 81.9% for expanding the group's business scope, with RMB 48.15 million allocated for establishing new service points in China by June 30, 2025[69] - The compound annual growth rate (CAGR) for China's cross-border e-commerce export scale is expected to reach approximately 16.40% from 2022 to 2025, with a projected scale of about RMB 10 trillion by 2025[64] Employee and Meeting Information - The total number of employees as of December 31, 2023, was 506, with competitive salary levels maintained[76] - The annual general meeting is scheduled for May 31, 2024, to determine voting eligibility for shareholders[83] - The annual report for the fiscal year 2023 will be distributed to shareholders and published on the company's website in due course[87] - The environmental, social, and governance report for the fiscal year 2023 will be published by April 25, 2024[88]