Revenue and Financial Performance - For the fiscal year ending December 31, 2024, the total revenue from air freight services was approximately MYR 10.9 million, an increase of about 28.2% compared to MYR 8.5 million in 2023[11]. - The revenue from sea freight services was approximately MYR 23.4 million, representing a significant increase of about 40.1% from MYR 16.7 million in 2023, making it the largest source of income for the company[14]. - Revenue from freight and related services was approximately MYR 2.5 million, a substantial increase of about 92.3% compared to MYR 1.3 million in 2023[16]. - The total revenue from integrated logistics services for the fiscal year was approximately 36.7 million MYR, an increase of about 39.0% or 10.3 million MYR compared to the previous year[24]. - Revenue from the manufacturing and trading of plastic products was approximately 19.0 million MYR, down from 22.1 million MYR in the previous year, accounting for about 22.2% of total revenue[18]. - Revenue from the trading of second-hand mobile phones was approximately 29.8 million MYR, a significant decrease from 67.8 million MYR in the previous year, representing about 34.8% of total revenue[19]. - The company recorded a loss of approximately 6.2 million MYR for the fiscal year, compared to a loss of 20.4 million MYR in the previous year[37]. Operational Metrics - The total air freight volume for exports was 1,585,000 kg in 2024, down from 2,057,000 kg in 2023, while imports increased to 1,672,000 kg from 1,063,000 kg[12]. - The sea freight volume for exports increased to 4,764 standard containers in 2024 from 4,362 in 2023, and imports rose to 5,388 standard containers from 4,052[15]. Strategic Focus and Market Position - The company is focused on enhancing its market position in Hong Kong despite the highly competitive logistics industry in Malaysia[9]. - The company aims to expand its logistics services in Hong Kong to improve its market share[9]. - The company provides a comprehensive range of logistics services, including air and sea freight forwarding, warehousing, and supply chain management[8]. - The company is committed to making necessary adjustments to its strategies and operations in response to market conditions[9]. Corporate Governance and Board Structure - The board consists of five directors, including two executive directors and three independent non-executive directors[86]. - The company adheres to the GEM Listing Rules and has complied with all applicable corporate governance codes throughout the fiscal year[79]. - The board has established various committees to delegate responsibilities and ensure effective governance[82]. - The company emphasizes a balanced composition of executive and non-executive directors to facilitate independent judgment[85]. - The company has appointed three independent non-executive directors, constituting over one-third of the board, with at least one possessing appropriate professional qualifications or expertise in accounting or related financial management[87]. Risk Management and Internal Controls - The group faces various risks including operational, market, liquidity, credit, and regulatory risks, and has established risk management policies to address these[46]. - The company has implemented a series of internal control policies to ensure effective operations and compliance with applicable laws and regulations[133]. - The risk management and internal control systems are designed to protect the company's assets and ensure accurate financial reporting[134]. - The board reviews its risk management and internal control systems at least annually to ensure their effectiveness[135]. - An independent internal control consultant was hired to assess the internal control systems, including cash and treasury management functions[141]. Environmental, Social, and Governance (ESG) Initiatives - The environmental, social, and governance (ESG) report outlines the group's initiatives and performance in sustainability for the fiscal year ending December 31, 2024[157]. - The group aims to reduce environmental impact and carbon footprint through strict environmental policies and practices, including fuel and electricity consumption management[175]. - The company is committed to achieving net-zero emissions and is continuously evaluating the environmental impact of its activities[182]. - The company emphasizes the importance of effective resource management and has adopted measures to minimize environmental impact through real-time monitoring[189]. - The company is actively identifying climate change risks and opportunities, incorporating them into its risk management framework[197]. Employee and Compensation - The total employee compensation, including directors' remuneration, reached MYR 17.4 million, an increase from MYR 16.6 million in 2023, with a total of 498 full-time employees compared to 380 in 2023[58]. - The company encourages all directors to participate in relevant training courses, with costs covered by the company, to enhance their understanding of their responsibilities[91]. Financial Management and Investments - Administrative expenses for the fiscal year were 12.8 million MYR, down from 14.5 million MYR in the previous year[34]. - Financing costs remained stable at approximately 0.5 million MYR for both the current and previous fiscal years[35]. - The company completed a placement of 126,720,000 shares at HKD 0.1 per share, raising approximately HKD 12.3 million net after expenses[60]. - The company approved a rights issue to raise up to approximately HKD 51.9 million, with the proceeds initially intended for working capital to expand logistics services in Hong Kong[63]. Shareholder Engagement and Communication - The board encourages shareholder participation in meetings and values the annual general meeting as a key communication channel[148]. - The company has a dividend policy that considers factors such as overall financial condition, working capital, and market conditions before recommending any dividend distribution[151].

Financial Performance - Total revenue for the year ended December 31, 2024, was 85,473 thousand MYR, a decrease of 26.5% compared to 116,351 thousand MYR in 2023[4] - Gross profit for the year was 7,688 thousand MYR, slightly up from 7,613 thousand MYR in the previous year, indicating a marginal improvement in profitability[4] - The company reported a net loss of 7,476 thousand MYR for the year, a significant reduction from a net loss of 20,765 thousand MYR in 2023, reflecting improved financial performance[4] - Total comprehensive loss for the year was 12,228 thousand MYR, compared to 17,219 thousand MYR in 2023, indicating a positive trend in overall financial health[5] - The basic loss per share improved to 0.98 sen from 3.22 sen, indicating a reduction in losses on a per-share basis[5] Cost Management - Administrative expenses decreased to 12,800 thousand MYR from 14,540 thousand MYR, showing a cost control effort by the company[4] - The company incurred a significant cost of goods sold amounting to 26,566 thousand MYR in 2024, down from 61,760 thousand MYR in 2023, reflecting improved cost management[38] - Employee costs, including directors' remuneration, increased to 17,354 thousand MYR in 2024 from 16,633 thousand MYR in 2023, indicating a rise in workforce expenses[38] Asset and Liability Management - Non-current assets increased to 2,047,000 MYR in 2024 from 2,011,000 MYR in 2023, reflecting a growth of 1.79%[6] - Current assets decreased to 35,379,000 MYR in 2024 from 46,877,000 MYR in 2023, representing a decline of 24.5%[6] - Total liabilities increased to 21,019,000 MYR in 2024 from 19,979,000 MYR in 2023, indicating a rise of 5.22%[7] - The company's net assets decreased to 24,241,000 MYR in 2024 from 36,469,000 MYR in 2023, a drop of 33.5%[7] - Cash and bank balances decreased significantly to 7,433,000 MYR in 2024 from 21,681,000 MYR in 2023, a decline of 65.6%[6] Revenue Breakdown - Revenue from air freight agency and related services increased to 10,851 thousand MYR in 2024 from 8,461 thousand MYR in 2023, representing a growth of approximately 28.2%[23] - Revenue from sea freight agency and related services rose to 23,353 thousand MYR in 2024 from 16,688 thousand MYR in 2023, marking an increase of about 40.1%[23] - The group reported a total revenue of 36,741 thousand MYR for freight and warehousing related services in 2024, up from 26,436 thousand MYR in 2023, reflecting a growth of approximately 38.5%[23] Market Outlook and Strategy - The company aims to enhance its market presence and explore new strategies for growth in the upcoming fiscal year[3] - Future outlook includes potential expansion into new markets and continued focus on cost management and operational efficiency[3] - The company aims to strengthen its position as a comprehensive logistics solution provider in Hong Kong and Malaysia, focusing on sustainable development and operational excellence[55] Risk Management - The group faces various risks including operational, market, liquidity, credit, and regulatory risks, with established risk management policies in place[80] - The group relies heavily on information technology for its logistics services, with potential risks associated with system failures[85] Corporate Governance - The audit committee has reviewed the annual performance for the year ending December 31, 2024, ensuring compliance with applicable accounting standards and GEM listing rules[103] - The company has adhered to the corporate governance code throughout the fiscal year, ensuring effective accountability[102] Shareholder Actions - The company did not recommend any dividend payments for the year ended December 31, 2024, consistent with the previous year[39] - The company completed a placement of 126,720,000 shares at a price of 0.1 HKD per share, representing approximately 16.67% of the enlarged issued share capital, raising a net amount of approximately 12.3 million HKD[89][90]

WORLDGATE GLOBAL LOGISTICS LTD 盛良物流有限公司 (於開曼群島註冊成立之有限公司) 股份代號 : 8292 WORLDGATE GLOBAL LOGISTICS LTD 盛良物流有限公司 (Incorporated in the Cayman Islands with limited liability) Stock Code : 8292 INTERIM REPORT 2024 2024 中期報告 香港聯合交易所有限公司（「聯交所」）GEM的特色 GEM的定位，乃為中小型公司提供一個上市的市場，此等公司相比起其他在聯交所上市的公司 帶有較高投資風險。有意投資的人士應了解投資於該等公司的潛在風險，並應經過審慎周詳的 考慮後方作出投資決定。 由於GEM上市公司普遍為中小型公司，在GEM買賣的證券可能會較於聯交所主板買賣之證券承 受較大的市場波動風險，同時無法保證在GEM買賣的證券會有高流通量的市場。 本報告的資料乃遵照聯交所GEM證券上市規則（「GEM上市規則」）而刊載，旨在提供有關盛良物 流有限公司（「本公司」）的資料。本公司董事（「董事」）願就本報告的資料共同及個別地承擔全部 ...

香 港 交 易 及 結 算 所 有 限 公 司 及 香 港 聯 合 交 易 所 有 限 公 司（「聯交所」）對 本 公 佈 之 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 會 就本公佈之全部或任何部分內容而產生或倚賴該等內容而引致之任何損失承 擔 任 何 責 任。 WORLDGATE GLOBAL LOGISTICS LTD （於開曼群島註冊成立之有限公司） 盛良物流有限公司 （股份代號：8292） 截至二零二四年六月三十日止六個月 中期業績公佈 盛 良 物 流 有 限 公 司（「本公司」）董 事（「董 事」）會 欣 然 宣 佈 本 公 司 及 其 附 屬 公 司（「本 集 團」）截 至 二 零 二 四 年 六 月 三 十 日 止 六 個 月 的 未 經 審 核 中 期 財 務 業 績。本 公 佈 載 有 本 公 司 截 至 二 零 二 四 年 六 月 三 十 日 止 六 個 月 的 中 期 業 績 全 文，符 合 聯 交 所GEM證 券 上 市 規 則（「GEM上市規則」）關 於 中 期 業 績 初 步 公 佈 所 附 資 料 的 ...

Financial Performance - For the fiscal year ending December 31, 2023, the revenue from air freight services was approximately MYR 8.5 million, a decrease of about 69.4% compared to MYR 27.6 million in 2022[10]. - The air freight volume for exports was 2,057 thousand kilograms in 2023, down from 5,617 thousand kilograms in 2022, while imports decreased from 1,362 thousand kilograms to 1,063 thousand kilograms[11]. - The revenue from sea freight services was approximately MYR 16.7 million, a decrease of about 40.2% from MYR 27.9 million in 2022[13]. - The sea freight volume for exports was 4,362 standard containers in 2023, down from 5,472 in 2022, and imports decreased from 4,975 to 4,052 standard containers[14]. - The revenue from freight and related services was approximately MYR 1.3 million in 2023, compared to MYR 1.8 million in 2022[15]. - Total revenue from integrated logistics services decreased by approximately 53.9% to about 26.4 million MYR for the fiscal year ending December 31, 2023, compared to 57.4 million MYR in the previous year[31]. - The revenue from the sale of second-hand mobile phones was approximately 67.8 million MYR, accounting for about 58.2% of total revenue, with a pre-tax segment loss of approximately 5.8 million MYR[19]. - Revenue from the manufacturing and sale of plastic products was approximately 22.1 million MYR, down from 25.7 million MYR in the previous year[18]. - Revenue from logistics services in Hong Kong was approximately 0.06 million MYR, a decrease of 96.0% compared to 1.6 million MYR in the previous year, representing about 0.1% of total revenue[20]. - The company recorded a loss of approximately 20.4 million MYR for the fiscal year, compared to a loss of 12.6 million MYR in the previous year, resulting in a loss per share of 3.22 sen[45]. - The company's current assets net value decreased to approximately 26.9 million MYR from 36.9 million MYR in the previous year[49]. - The debt-to-equity ratio increased to approximately 19.8% from 14.5% in the previous year[49]. - The company reported total revenue of 116 million MYR for the year ending December 31, 2023, down from 135 million MYR in 2022, indicating a decrease of approximately 14.1%[184]. Market Strategy and Operations - The company aims to enhance its market position in Hong Kong despite facing intense competition in the logistics sector in Malaysia[8]. - The company is focused on providing comprehensive logistics solutions, including value-added services such as supply chain management and inventory reporting[8]. - The overall economic conditions in Malaysia have been adversely affected by the COVID-19 pandemic, impacting customer order volumes[13]. - The company is closely monitoring market conditions and making necessary adjustments to its strategies and operations[8]. - The company continues to explore opportunities for market expansion and new service offerings to adapt to changing consumer behaviors[8]. - The company plans to establish a joint venture with Shui Fa Hua Xia Group to develop multiple projects, with the company responsible for attracting investors and providing financial advice[21]. - The proposed joint venture with Sui Yong International aims to focus on investments in green energy and environmental protection, with a 51:49 equity ratio[25]. - The company intends to reallocate approximately 26.1 million HKD originally designated for expanding Hong Kong logistics services to general working capital and investment purposes[29]. - The company remains optimistic about the resilience of the industry and its own business stability, aiming to consolidate its position as a comprehensive logistics solution provider in Hong Kong and Malaysia[30]. - The company is focused on sustainable development and operational excellence while optimizing its asset and financial health[30]. - The board believes that the logistics and second-hand mobile phone businesses will expand the company's revenue base and improve capital efficiency[30]. Leadership and Governance - The company appointed Mr. Lee Guo Xi as Executive Director on May 21, 2019, responsible for overall strategic planning and management[73]. - Mr. Chen Jian Hao, appointed as Executive Director and CEO on September 10, 2021, has over 20 years of experience in finance and accounting[74]. - Independent Non-Executive Director Mr. Huang Zhaoqiang has over 30 years of experience in accounting and finance, and he resigned on June 16, 2023[75]. - Ms. Lee Li Ngut has been the Senior Vice President of Finance since March 1, 2016, managing the company's financial and accounting operations[80]. - Mr. Lee Cwen Wei, appointed as Sales Director on January 2, 2021, is responsible for increasing sales in local and international markets[82]. - The management team collectively brings over 100 years of experience in finance, accounting, and operational management[74][75][80][82][83]. - The company is committed to enhancing its strategic planning and operational efficiency through experienced leadership[73][74][80]. - The board of directors is responsible for overseeing the group's business affairs and overall performance, ensuring the necessary financial and human resources are in place to maximize shareholder value[87]. - The board held seven meetings during the fiscal year to discuss and approve the group's consolidated performance for various periods, including the year ended December 31, 2022, and the nine months ended September 30, 2023[99]. - The company has adopted a set of trading rules for directors regarding securities transactions, confirming compliance throughout the fiscal year[86]. - The board comprises five directors, including three independent non-executive directors, ensuring a balanced composition for independent judgment[92]. - The company has established insurance arrangements to provide appropriate protection for directors facing legal liabilities[95]. - The board is tasked with formulating and monitoring the group's corporate governance practices and financial controls, as well as reviewing their effectiveness[96]. - Each newly appointed director receives a comprehensive orientation to understand the company's operations and their responsibilities under various regulations[98]. - The company encourages all directors to participate in relevant training courses, with costs covered by the company, to enhance their professional development[98]. - The board's meetings are scheduled to occur quarterly, with at least 14 days' notice provided to directors for regular meetings[99]. - The board consists of approximately 60% male and 40% female members, reflecting a commitment to gender diversity[102]. Risk Management and Compliance - The company has implemented disaster recovery plans covering critical application analysis and external server backups to mitigate risks associated with IT dependency[62]. - The company is monitoring foreign currency risks, particularly with USD and EUR, and may consider hedging activities to mitigate exchange rate fluctuations[65]. - The company has taken risk management measures, including GPS tracking and insurance for cargo loss and damage, to address the inherent risks in logistics services[58]. - The company anticipates passing on increased freight and transportation costs to customers to mitigate the impact of rising operational costs[60]. - The company has established procedures for handling and disclosing inside information in compliance with GEM listing rules[145]. - The company has established a comprehensive internal control and risk management system to ensure effective and efficient operations, reliable financial reporting, and compliance with applicable laws and regulations[136]. - The board reviews the risk management and internal control systems at least annually to ensure their effectiveness[139]. - The company has implemented a series of internal control policies and procedures aimed at identifying, assessing, and managing significant risks[138]. - An independent internal control consultant was hired to review the internal control and risk management functions during the fiscal year[143]. Environmental, Social, and Governance (ESG) - The company is committed to sustainable development and has implemented initiatives in environmental, social, and governance (ESG) aspects, demonstrating its commitment to these principles[157]. - The ESG report covers operations in Malaysia, Vietnam, and Hong Kong, which are the primary revenue sources for the company[158]. - The report period for the ESG activities is for the year ending December 31, 2023[159]. - The board is responsible for overseeing sustainability opportunities and risks, ensuring that ESG initiatives align with growth strategies[165]. - The ESG working group, consisting of four members, assists in risk assessment and ensures effective policy implementation[168]. - The company aims to reduce its environmental impact by setting ESG-related goals and integrating sustainable development into its operations[168]. - The board regularly reviews the effectiveness of internal control mechanisms and the progress of set goals related to ESG[168]. - The company encourages stakeholders to provide feedback on its sustainability performance and disclosures[164]. - The company aims to reduce power consumption density, water usage density, non-hazardous waste density, and GHG emissions density by 5% by 2030, based on 2023 as the baseline year[177]. - The company has set a target for carbon neutrality by 2050 and is implementing measures to assess the effectiveness of its strategies against climate change[176]. - The company emphasizes compliance with environmental laws and regulations, including the 1974 Environmental Quality Act in Malaysia, to mitigate operational impacts[180]. - The company is committed to sustainable development and reducing its carbon footprint through various environmental policies and initiatives[175]. - The company has not reported any significant violations related to emissions or environmental regulations during the reporting period[175]. - Total GHG emissions decreased to 1,590.17 tons CO2 equivalent in 2023 from 1,810.23 tons in 2022, showing a reduction of approximately 12.1%[183]. - Direct GHG emissions (Scope 1) increased to 496.85 tons CO2 equivalent in 2023 from 472.20 tons in 2022, representing an increase of about 5.5%[183]. - Indirect GHG emissions (Scope 2) decreased to 1,093.33 tons CO2 equivalent in 2023 from 1,338.03 tons in 2022, a reduction of approximately 18.3%[183]. - Nitrogen oxides (NOx) emissions increased to 2,045.79 kg in 2023 from 1,824.77 kg in 2022, reflecting an increase of about 12.1%[181]. - Total non-hazardous waste decreased significantly to 3.94 tons in 2023 from 76.13 tons in 2022, representing a reduction of approximately 94.8%[188]. - Total hazardous waste generated was 0.10 tons in 2023, a substantial decrease from 7.14 tons in 2022, reflecting a reduction of about 98.6%[188]. - Total energy consumption decreased to 3,266 MWh in 2023 from 3,902 MWh in 2022, a reduction of approximately 16.3%[191]. - Water consumption increased to 6,594 cubic meters in 2023 from 1,966 cubic meters in 2022, representing a significant increase of about 235.5%[193]. - Packaging material consumption dropped to 18.52 tons in 2023 from 327 tons in 2022, a decrease of approximately 94.3%[195]. - The density of packaging material consumption improved to 0.15 tons per million revenue in 2023, down from 2.42 tons in 2022, indicating better resource management[195]. - Direct energy consumption from gasoline and diesel increased to 2,020 MWh in 2023 from 1,899 MWh in 2022, an increase of about 6.4%[191]. - Indirect energy consumption from purchased electricity decreased to 1,246 MWh in 2023 from 2,003 MWh in 2022, a reduction of approximately 37.9%[191]. - The company is actively exploring new business models to mitigate the operational costs and challenges posed by climate change[199].

Financial Performance - For the fiscal year ending December 31, 2023, the group's total revenue was approximately 116.4 million MYR, a decrease of about 13.6% compared to the same period in 2022[6]. - The gross profit for the fiscal year ending December 31, 2023, was approximately 7.6 million MYR, representing a decline of approximately 42.6% year-over-year[6]. - The group recorded a net loss of approximately 20.8 million MYR for the fiscal year ending December 31, 2023[6]. - The pre-tax loss for the fiscal year was approximately 20.8 million MYR, compared to a pre-tax loss of 13.5 million MYR in the previous year[7]. - The total comprehensive loss for the year was approximately 20.8 million MYR, compared to a comprehensive loss of 13.1 million MYR in the previous year[9]. - The basic and diluted loss per share for the year was 3.22 cents, compared to 1.98 cents in the previous year[9]. - The company reported a net loss attributable to owners of 20,402,000 MYR for 2023, compared to a loss of 12,551,000 MYR in 2022, indicating a deterioration in performance[44]. Revenue Breakdown - Total customer contract revenue decreased from 134,595 thousand MYR in 2022 to 116,351 thousand MYR in 2023, a decline of approximately 13.5%[24]. - Revenue from air freight and related services dropped significantly from 27,625 thousand MYR in 2022 to 8,461 thousand MYR in 2023, a decrease of about 69.4%[24]. - Revenue from the sale of second-hand mobile phones increased from 51,506 thousand MYR in 2022 to 67,770 thousand MYR in 2023, representing a growth of approximately 31.6%[24]. - Revenue from logistics services in Hong Kong was approximately 0.06 million MYR, a decrease of 96.0% compared to 1.6 million MYR in the previous year, representing about 0.1% of total revenue[61]. - Total revenue from integrated logistics services decreased by approximately 53.9% to about 26.4 million MYR for the fiscal year ending December 31, 2023, compared to 57.4 million MYR in the previous year[73]. - Revenue from the manufacturing and trading of plastic products was approximately 22.1 million MYR, down from 25.7 million MYR in the previous year[78]. - Revenue from the trading of second-hand mobile phones increased to approximately 67.8 million MYR, up from 51.5 million MYR in the previous year[81]. Assets and Liabilities - Non-current assets decreased from 19,605 thousand MYR in 2022 to 11,598 thousand MYR in 2023, a decline of approximately 40.8%[11]. - Current assets also saw a decrease from 62,671 thousand MYR in 2022 to 46,877 thousand MYR in 2023, representing a reduction of about 25.3%[11]. - Total liabilities decreased from 25,770 thousand MYR in 2022 to 19,979 thousand MYR in 2023, a decrease of approximately 22.5%[11]. - The company's net asset value dropped from 53,688 thousand MYR in 2022 to 36,469 thousand MYR in 2023, reflecting a decline of around 32.1%[13]. - The company's cash and bank balances decreased from 27,583 thousand MYR in 2022 to 21,681 thousand MYR in 2023, a decrease of approximately 21.4%[11]. - The company's equity attributable to owners decreased from 53,133 thousand MYR in 2022 to 36,256 thousand MYR in 2023, a decline of about 31.7%[13]. Expenses and Costs - The group experienced a significant increase in administrative expenses, totaling approximately 14.5 million MYR, compared to 14.0 million MYR in the previous year[7]. - The cost of goods sold increased to 61,760,000 MYR in 2023 from 45,308,000 MYR in 2022, reflecting a rise of 36.3%[42]. - The company recorded impairment losses on property, plant, and equipment amounting to 6,137,000 MYR in 2023, with no such losses reported in 2022[36]. Operational Highlights - The company operates primarily in Malaysia and Hong Kong, focusing on international freight forwarding and logistics services[17]. - The logistics services provided by the company include air and sea freight agency services, with a focus on enhancing market position in Hong Kong[51]. - The company is closely monitoring market conditions and making necessary adjustments to its strategies and operations[51]. - The company aims to establish a joint venture with Shui Fa Hua Xia Group to develop multiple projects, leveraging each party's core competencies[63]. - A proposed solar power plant project has been submitted for consideration as part of the collaboration with Shui Fa Hua Xia Group[64]. - Discussions are ongoing for a joint venture with Sui Yong International, with a proposed ownership structure of 51:49, focusing on investments in green energy and environmental sectors[65]. - A strategic cooperation agreement was signed with Zhong Wei Supply Chain to enhance supply chain business operations, leveraging the company's logistics service advantages[68]. - The company remains optimistic about the industry's recovery and aims to solidify its position as a comprehensive logistics solution provider in Hong Kong and Malaysia[70]. Risk Management - The company faces various risks including operational, market, liquidity, credit, and regulatory risks, with established risk management policies in place[93]. - The risk of not renewing licenses in Malaysia could hinder the provision of integrated logistics services, as the company requires various permits and approvals[95]. - The company has implemented risk management measures such as global positioning systems and insurance for cargo loss and damage[96]. - The company is exposed to increased freight and transportation costs influenced by fuel prices, exchange rates, and supply conditions, which may be passed on to customers[99]. - The company relies heavily on information technology for its logistics services, with disaster recovery plans in place to mitigate potential disruptions[100]. Corporate Governance - The board of directors did not recommend the payment of a final dividend for the fiscal year ending December 31, 2023[6]. - The company has complied with all applicable corporate governance codes throughout the fiscal year[122]. - The audit committee, consisting of independent non-executive directors, reviewed the annual performance for the year ending December 31, 2023, ensuring compliance with applicable accounting standards and GEM listing rules[123].

Financial Performance - For the nine months ended September 30, 2023, the total revenue of Worldgate Global Logistics Ltd was approximately MYR 82.8 million, a decrease of about 18.7% compared to the same period in 2022[3]. - The gross profit for the nine months ended September 30, 2023, was approximately MYR 6.3 million, representing a decline of about 44.0% year-on-year[3]. - The company recorded a net loss of approximately MYR 9.8 million for the nine months ended September 30, 2023[3]. - For the three months ended September 30, 2023, the revenue was MYR 31.8 million, down from MYR 33.7 million in the same period of 2022[4]. - The gross profit for the three months ended September 30, 2023, was MYR 2.0 million, compared to MYR 3.2 million in the previous year, indicating a decline[4]. - The loss before tax for the nine months ended September 30, 2023, was MYR 9.4 million, compared to a loss of MYR 5.3 million for the same period in 2022[4]. - The basic and diluted loss per share for the nine months ended September 30, 2023, was 1.55 sen, compared to 0.86 sen for the same period in 2022[5]. - The total comprehensive loss for the nine months ended September 30, 2023, was MYR 8.1 million, compared to a loss of MYR 1.0 million in the previous year[6]. - The company reported a foreign exchange gain of MYR 1.4 million for the nine months ended September 30, 2023, compared to a gain of MYR 4.3 million in the previous year[6]. - For the three months ended September 30, 2023, the company reported a loss attributable to owners of the company of 3,456,000 MYR, compared to a loss of 1,383,000 MYR for the same period in 2022, representing a year-over-year increase of approximately 150.5%[23]. - For the nine months ended September 30, 2023, the loss attributable to owners of the company was 9,825,000 MYR, compared to 5,436,000 MYR for the same period in 2022, indicating an increase of approximately 80.5%[23]. Revenue Breakdown - The revenue from freight forwarding and related services was MYR 5,748,000, a decrease of 53.7% compared to MYR 12,400,000 in the same period of 2022[10]. - The revenue from the sale of second-hand mobile phones increased significantly to MYR 22,952,000 for the three months ended September 30, 2023, up 29.3% from MYR 17,754,000 in the same period of 2022[10]. - The revenue from external customers in Malaysia for the nine months ended September 30, 2023, was MYR 18,559,000, down from MYR 45,950,000 in the same period of 2022[15]. - The revenue from the manufacturing and trading of plastic products for the nine months ended September 30, 2023, was approximately RM 12.0 million, a decrease of 35.9% from RM 18.7 million in 2022, accounting for about 14.5% of total revenue[31]. - The revenue from the trading of second-hand mobile phones for the nine months ended September 30, 2023, was approximately RM 52.2 million, an increase of 46.4% from RM 35.7 million in 2022, representing about 63.0% of total revenue[32]. - The total revenue from integrated logistics services for the nine months ended September 30, 2023, was approximately RM 18.6 million, a decrease of 60.8% from RM 47.3 million in 2022[34]. Operational Highlights - The company continues to focus on expanding its logistics services in Malaysia and Hong Kong, while also exploring opportunities in Vietnam[10]. - The company plans to utilize the proceeds from the rights issue for operational funding to expand logistics services in Hong Kong[47]. - The company has entered into a strategic cooperation agreement with Zhongwei Supply Chain Limited to enhance its supply chain business, leveraging its logistics service advantages and extensive network[53]. - The company is in discussions to establish a joint venture with Suining International Limited, with a proposed equity ratio of 51:49, focusing on investments in green energy and environmental protection[52]. - The company is exploring investment and business cooperation opportunities to create long-term value for itself and its shareholders[55]. Financial Management - The financing costs for the nine months ended September 30, 2023, were approximately RM 343,000, a significant decrease from RM 730,000 in 2022[44]. - The company's tax expense for the nine months ended September 30, 2023, was 85,000 MYR, compared to 65,000 MYR for the same period in 2022, reflecting an increase of approximately 30.8%[7]. - The company has not reported any potential dilutive ordinary shares during the nine months ended September 30, 2023, thus basic and diluted loss per share remain the same[24]. Corporate Governance - The board of directors did not recommend the payment of an interim dividend for the nine months ended September 30, 2023[3]. - The company has adhered to the corporate governance code as outlined in the GEM Listing Rules throughout the reporting period[63]. - An audit committee was established on June 17, 2016, consisting of independent non-executive directors, responsible for reviewing financial statements and monitoring internal controls[64]. - The third-quarter financial statements have not been audited by the company's auditor but have been reviewed by the audit committee[65]. - The board of directors confirmed compliance with the trading standards and the company's code of conduct regarding securities transactions during the nine months ending September 30, 2023[62]. Shareholder Information - As of September 30, 2023, Win All Management Limited holds 188,360,000 shares, representing 29.73% of the company's equity[57]. - The controlling shareholders and their close associates have no interests in any business that competes directly or indirectly with the company's operations as of September 30, 2023[61]. - No shares were bought, sold, or redeemed by the company or its subsidiaries during the nine months ending September 30, 2023[60].

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佈之內容概不 負責，對其準確性或完整性亦不發表任何聲明，並明確表示概不會就本公佈之 全部或任何部分內容而產生或倚賴該等內容而引致之任何損失承擔任何責任。 WORLDGATE GLOBAL LOGISTICS LTD 盛 良 物 流 有 限 公 司 （於開曼群島註冊成立之有限公司） （股份代號：8292） 截 至 二 零 二 三 年 九 月 三 十 日 止 九 個 月 之 第 三 季 業 績 公 佈 香港聯合交易所有限公司（「聯交所」）GEM的特色 GEM的定位，乃為中小型公司提供一個上市的市場，此等公司相比起其他在聯 交所上市的公司帶有較高投資風險。有意投資的人士應了解投資於該等公司 的潛在風險，並應經過審慎周詳的考慮後方作出投資決定。 由於GEM上市公司普遍為中小型公司，在GEM買賣的證券可能會較於聯交所 主板買賣之證券承受較大的市場波動風險，同時無法保證在GEM買賣的證券 會有高流通量的市場。 本公佈的資料乃遵照聯交所GEM證券上市規則（「GEM上市規則」）而刊載，旨在 提供有關盛良物流有限公司（「本公司」）的資料。本公司董事（「董事」）願就本公 佈的 ...

Financial Performance - For the six months ended June 30, 2023, the total revenue was approximately MYR 51.0 million, a decrease of about 25.2% compared to the same period in 2022[3]. - The gross profit for the same period was approximately MYR 4.3 million, down approximately 46.5% year-on-year[3]. - The company recorded a net loss of approximately MYR 6.3 million for the six months ended June 30, 2023[3]. - For the three months ended June 30, 2023, the revenue was MYR 24.4 million, compared to MYR 29.5 million in the same period of 2022, reflecting a decline of approximately 17.4%[4]. - The company reported a loss attributable to owners of the company of MYR 3.84 million for the three months ended June 30, 2023[5]. - For the six months ended June 30, 2023, the company reported a net loss of 6,369 thousand MYR, compared to a loss of 4,053 thousand MYR for the same period in 2022, representing a 57.2% increase in losses[8]. - The company reported a basic and diluted loss per share of 1.01 sen for the six months ended June 30, 2023[5]. - The company reported a loss attributable to owners for the six months ended June 30, 2023, was 6,369 thousand MYR, an increase of 57.3% from 4,053 thousand MYR in 2022[27]. Revenue Breakdown - The logistics and related services segment generated revenue of 12,811 thousand MYR, a decrease of 63.3% from 34,927 thousand MYR in the same period of 2022[14]. - The manufacturing and trading of plastic products segment reported a revenue of 8,946 thousand MYR, down 41.1% from 15,224 thousand MYR in the same period of 2022[14]. - Air freight service revenue decreased by approximately 79.5% to about 3.8 million MYR for the six months ended June 30, 2023, compared to 18.5 million MYR in the same period last year[37]. - The segment of air freight agency and related services generated 1,903 thousand MYR in revenue for the three months ended June 30, 2023, a decline of 48.5% from 3,695 thousand MYR in 2022[18]. - The segment of sea freight agency and related services reported revenue of 4,076 thousand MYR for the three months ended June 30, 2023, down 37.1% from 6,490 thousand MYR in 2022[18]. - Revenue from the manufacturing and trading of plastic products was approximately RM 8.9 million in 2023, a decline from RM 15.2 million in 2022, representing about 17.5% of total revenue (2022: 22.3%)[42]. - Revenue from the trading of second-hand mobile phones increased to approximately RM 29.2 million in 2023 from RM 18.0 million in 2022, accounting for about 57.3% of total revenue[43]. - Total revenue from integrated logistics services for the six months ended June 30, 2023, was approximately RM 12.8 million, a decrease of RM 22.1 million or 63.3% compared to RM 34.9 million in 2022[45]. Assets and Liabilities - Total assets decreased from MYR 62.7 million as of December 31, 2022, to MYR 53.3 million as of June 30, 2023[6]. - Current liabilities decreased from MYR 25.8 million as of December 31, 2022, to MYR 22.5 million as of June 30, 2023[6]. - The net asset value decreased from MYR 53.7 million as of December 31, 2022, to MYR 48.2 million as of June 30, 2023[7]. - Trade receivables as of June 30, 2023, amounted to 26,207 thousand MYR, an increase from 23,996 thousand MYR as of December 31, 2022, after accounting for credit loss provisions of 7,782 thousand MYR[31]. - Trade and other payables totaled 17,126 thousand MYR as of June 30, 2023, down from 20,574 thousand MYR as of December 31, 2022[33]. Cash Flow and Financing - The company’s cash flow from operating activities showed a net cash outflow of 771 thousand MYR, an improvement from a net outflow of 6,370 thousand MYR in the previous year[9]. - The cash and cash equivalents decreased by 2,525 thousand MYR, compared to a decrease of 8,676 thousand MYR in the previous year[9]. - The group's cash and cash equivalents as of June 30, 2023, were approximately MYR 25.8 million, down from MYR 27.6 million as of December 31, 2022[60]. - Financing costs for the six months ended June 30, 2023, were approximately MYR 241,000, down from MYR 483,000 in 2022[55]. Dividends and Shareholder Information - The board of directors did not recommend the payment of an interim dividend for the six months ended June 30, 2023[3]. - The company did not recommend any interim dividend for the six months ended June 30, 2023, compared to none in 2022[56]. - The company has a weighted average number of shares of 633,600,000 for the calculation of basic and diluted loss per share[26]. - The company reported a net loss per share for the six months ended June 30, 2023, with a weighted average of 633,600,000 ordinary shares outstanding, consistent with the previous year[29]. - As of June 30, 2023, Win All Management Limited holds 188,360,000 shares, representing 29.73% of the company's equity[76]. Management and Governance - Employee costs, including directors' remuneration, amounted to 3,069 thousand MYR for the three months ended June 30, 2023, a decrease of 50.5% from 6,199 thousand MYR in 2022[19]. - The total employee compensation for the six months ended June 30, 2023, was MYR 6.2 million, down from MYR 9.0 million in 2022[65]. - Management's compensation for the six months ended June 30, 2023, increased to 1,240 thousand MYR from 958 thousand MYR in the previous year[35]. - The company has complied with the GEM Listing Rules regarding directors' securities transactions, confirming adherence to the required standards during the reporting period[81]. - The company has maintained compliance with the Corporate Governance Code throughout the financial year, ensuring effective accountability[82]. Strategic Initiatives - The board believes there are significant business growth opportunities in Malaysia due to strong growth prospects and increased foreign direct investment[44]. - The company plans to expand its logistics and second-hand mobile phone trading businesses in Hong Kong and Malaysia to attract more international customers[44]. - The company is preparing to establish a joint venture with Shuidai Huaxia Group to develop multiple projects, including a solar power plant proposal[69][70]. - The company is in discussions to establish a joint venture with Suining International Limited, with a proposed ownership ratio of 51:49, focusing on investments in green energy and environmental sectors[71]. - A strategic cooperation agreement was signed with Zhongwei Supply Chain Limited on January 5, 2023, to collaborate on supply chain businesses, leveraging the company's logistics services and extensive network[72]. - The board has decided to reallocate approximately HKD 26.1 million originally intended for expanding logistics services in Hong Kong to general working capital and investment purposes[74]. Audit and Compliance - The interim financial statements have not been audited but have been reviewed by the audit committee[84]. - As of June 30, 2023, the group had no significant acquisitions or disposals of subsidiaries[61]. - The group has no major investments or future capital asset plans as of June 30, 2023[63]. - The company has adopted a share option scheme to attract and retain qualified personnel, with 800,000 shares (0.13% of issued shares) available for issuance under the scheme as of June 30, 2023[78].

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佈之內容概不 負責， 對其準確性或完整性亦不發表任何聲明， 並明確表示概不會就本公佈之 全部或任何部分內容而產生或倚賴該等內容而引致之任何損失 承擔任何責任。 WORLDGATE GLOBAL LOGISTICS LTD 盛 良 物 流 有 限 公 司 （於開曼群島註冊成立之有限公司） （股份代號：8292） 截 至 二 零 二 三 年 六 月 三 十 日 止 六 個 月 中 期 業 績 公 佈 香港聯合交易所有限公司（「聯交所」）GEM的特色 GEM的定位，乃為中小型公司提供一個上市的市場，此等公司相比起其他在聯 交所上市的公司帶有較高投資風險。有意投資的人士應了解投資於該等公司 的潛在風險，並應經過審慎周詳的考慮後方作出投資決定。 由於GEM上市公司普遍為中小型公司，在GEM買賣的證券可能會較於聯交所 主板買賣之證券承受較大的市場波動風險，同時無法保證在GEM買賣的證券 會有高流通量的市場。 本公告的資料乃遵照聯交所GEM證券上市規則（「GEM上市規則」）而刊載，旨在 提供有關盛良物流有限公司（「本公司」）的資料。本公司董事（「董事」）願就本公 告的資 ...