Financial Performance - Wan Leader International Limited reported unaudited condensed consolidated financial results for the nine months ended December 31, 2022, compared to the previous period[16]. - Revenue for the three months ended December 31, 2022, was HK$41,781,000, a decrease of 82.5% compared to HK$238,756,000 for the same period in 2021[18]. - Gross profit for the nine months ended December 31, 2022, was HK$3,229,000, down 92.1% from HK$40,930,000 in the previous year[18]. - Loss before taxation for the three months ended December 31, 2022, was HK$5,425,000, compared to a profit of HK$10,696,000 in the same period of 2021[18]. - Total comprehensive loss for the nine months ended December 31, 2022, was HK$17,344,000, a significant decline from a comprehensive income of HK$16,468,000 in the previous year[20]. - Basic and diluted loss per share for the three months ended December 31, 2022, was HK$0.60, compared to earnings of HK$1.07 in the same period of 2021[20]. - The Company reported a loss for the period ending December 31, 2022, amounting to HK$17,131,000, compared to a profit of HK$15,940,000 for the previous period[22]. - The Group recorded a net loss of approximately HK$17.1 million for the Review Period, compared to a net profit of approximately HK$15.9 million for the Previous Period, largely impacted by the COVID-19 pandemic[84]. Revenue Breakdown - For the nine months ended December 31, 2022, total revenue was HK$178,281,000, a decrease from HK$548,186,000 for the same period in 2021, representing a decline of approximately 67.5%[45]. - Revenue from freight forwarding and related logistics services for the nine months ended December 31, 2022, was HK$170,641,000, down from HK$545,639,000 in the previous year, indicating a decrease of about 68.7%[45]. - Entrusted management services for operating an online e-commerce platform generated revenue of HK$3,935,000 for the nine months ended December 31, 2022, compared to HK$2,547,000 in the same period of 2021, reflecting an increase of approximately 54.3%[45]. - Trading of fashion items contributed HK$3,705,000 in revenue for the nine months ended December 31, 2022, with no revenue reported in the same period of 2021[45]. - Revenue from air freight forwarding and related logistics services amounted to approximately HK$153.2 million, accounting for approximately 85.9% of total revenue[95]. - Revenue from sea freight forwarding and related logistics services was approximately HK$17.5 million, representing about 9.8% of total revenue[96]. - Revenue from entrusted management services for operating an online e-commerce platform increased to approximately HK$3.9 million, accounting for approximately 2.2% of total revenue[97]. - Revenue from trading of fashion items amounted to approximately HK$3.7 million, representing approximately 2.1% of total revenue, marking the introduction of a new business segment[98]. Expenses and Costs - Administrative expenses increased to HK$6,276,000 for the three months ended December 31, 2022, up from HK$4,228,000 in the previous year[18]. - Corporate expenses for the nine months ended December 31, 2022, amounted to HK$7,412,000[48]. - The Group's cost of services decreased by approximately 65.5% from approximately HK$507.2 million for the Previous Period to approximately HK$175.1 million for the Review Period[102]. - Sales and marketing expenses decreased from approximately HK$3.6 million in the Previous Period to approximately HK$1.7 million in the Review Period[110][115]. - Administrative expenses increased to approximately HK$18.8 million for the Review Period, up from approximately HK$14.5 million in the Previous Period[111][116]. - Finance costs decreased from approximately HK$139,000 in the Previous Period to approximately HK$126,000 in the Review Period due to lower interest expenses on bank borrowings[114][119]. Corporate Governance and Compliance - The report emphasizes the importance of compliance with GEM Listing Rules, ensuring transparency and accountability in financial reporting[5]. - The Board of Directors collectively accepts full responsibility for the accuracy and completeness of the information presented in the report[5]. - The report includes a commitment to corporate governance and compliance, reflecting the company's dedication to ethical business practices[11]. - The company complied with the Corporate Governance Code from April 1, 2022, to December 31, 2022, enhancing stakeholder confidence[138]. - The company is committed to reviewing its corporate governance practices to meet rising expectations from shareholders and investors[139]. - The company has confirmed compliance with the Required Standard of Dealings for securities transactions by all directors during the review period[140]. Share Capital and Equity - Proceeds from the placing of new shares amounted to HK$27,900,000, which contributed positively to the equity position of the Company[22]. - The Company’s share capital increased from HK$8,400,000 to HK$9,900,000 due to the issuance of new shares[22]. - As of December 31, 2022, the total equity attributable to owners of the Company was HK$71,344,000, with an increase from HK$61,365,000 as of April 1, 2022, reflecting a growth of approximately 16.2%[22]. - The net proceeds from the share placement were fully utilized for general working capital as of December 31, 2022[133]. Strategic Direction and Market Outlook - The management discussion and analysis section provides insights into the company's strategic direction and market expansion plans[8]. - The reopening of China's borders in late 2022 is expected to lead to a strong recovery in the logistics market, benefiting the Company as the economy grows[83]. - The Group aims to diversify its business areas and reduce reliance on existing logistics businesses, with new contracts established for fashion item trading[89]. - The reopening of China's borders is anticipated to drive economic recovery and positively impact the global logistics market, benefiting the Group[85]. Miscellaneous - Wan Leader International Limited's registered office is located in the Cayman Islands, with its principal place of business in Hong Kong[13]. - The company has established key banking relationships with Hang Seng Bank Limited and Industrial and Commercial Bank of China (Asia) Limited[12]. - The Group's logistics services cover cargo destinations including the USA, Europe, Asia, and other regions, with a focus on Hong Kong, the PRC, Taiwan, and Vietnam[80]. - The Group's core businesses include freight forwarding, entrusted management services for e-commerce, and trading of fashion items, highlighting its diversified service offerings[81]. - The Group's performance obligations for freight forwarding and related logistics services are for a period of one year or less, as per HKFRS 15[52].

Financial Performance - Wan Leader International Limited reported unaudited consolidated revenue for the six months ended September 30, 2022, with a comparison to the previous period[18]. - The financial results for the review period indicate a significant change in profit margins compared to the previous period, highlighting the company's performance[19]. - Revenue for the three months ended September 30, 2022, was HK$47,164,000, a decrease from HK$179,542,000 in the same period of 2021, representing a decline of approximately 73.8%[20]. - Gross profit for the six months ended September 30, 2022, was HK$434,000, down from HK$22,753,000 in the same period of 2021, indicating a decrease of about 98.1%[20]. - Loss before taxation for the three months ended September 30, 2022, was HK$7,844,000, compared to a profit of HK$4,604,000 in the same period of 2021[21]. - Total comprehensive loss for the six months ended September 30, 2022, was HK$11,230,000, compared to a comprehensive income of HK$7,517,000 in the same period of 2021[21]. - For the six months ended September 30, 2022, the company reported a net loss of HK$11,142,000 compared to a profit of HK$7,010,000 for the same period in 2021[23]. - The total comprehensive expenses for the period amounted to HK$11,230,000, reflecting a significant increase from the previous year's comprehensive income of HK$7,575,000[23]. - The Group recorded a net loss of approximately HK$11.1 million for the six months ended 30 September 2022, compared to a net profit of approximately HK$7.0 million for the same period in 2021[130]. Revenue Breakdown - Total revenue for the six months ended September 30, 2022, was HK$136,500,000, a decrease of 56% compared to HK$309,430,000 for the same period in 2021[51]. - Revenue from freight forwarding and related logistics services for the six months ended September 30, 2022, was HK$132,265,000, down 57% from HK$308,790,000 in the previous year[51]. - Air freight revenue for the three months ended September 30, 2022, was HK$44,442,000, a decline of 67% from HK$135,149,000 in the same period of 2021[51]. - Sea freight revenue for the six months ended September 30, 2022, was HK$16,060,000, a decrease of 76% compared to HK$67,490,000 in the prior year[51]. - The entrusted management services for operating an online e-commerce platform generated revenue of HK$1,235,000 for the six months ended September 30, 2022, compared to HK$640,000 in the same period of 2021[53]. Assets and Liabilities - Current assets decreased to HK$108,455,000 as of September 30, 2022, from HK$129,086,000 as of March 31, 2022, reflecting a decline of approximately 15.9%[22]. - Trade and other receivables dropped significantly to HK$32,203,000 as of September 30, 2022, from HK$81,768,000 as of March 31, 2022, a decrease of about 60.7%[22]. - Net assets increased to HK$77,457,000 as of September 30, 2022, compared to HK$61,365,000 as of March 31, 2022, showing an increase of approximately 26.2%[22]. - Trade payables decreased to HK$26,598,000 as of September 30, 2022, compared to HK$55,018,000 as of March 31, 2022[95]. - Trade receivables decreased by 67.7% from approximately HK$79.1 million at 31 March 2022 to approximately HK$25.6 million at 30 September 2022, attributed to a decrease in sales during the Review Period[173]. Cash Flow and Financing - The company raised HK$27,900,000 from the placement of new shares during the period, contributing to a net cash inflow from financing activities of HK$26,749,000[30]. - Net cash from operating activities decreased to HK$3,172,000 from HK$16,168,000 in the prior year, indicating a decline in operational performance[30]. - Cash and cash equivalents at the end of the period stood at HK$73,250,000, up from HK$43,430,000 at the beginning of the period[30]. - The Group's bank borrowings decreased to approximately HK$2.3 million at 30 September 2022 from approximately HK$3.0 million at 31 March 2022[182]. - The Group conducted a placing of 150,000,000 new ordinary shares at a price of HK$0.186 each, raising gross proceeds of approximately HK$27.9 million[185]. Strategic Focus and Future Outlook - The company is focused on expanding its market presence and enhancing its product offerings to drive future growth[18]. - Management discussed ongoing research and development efforts aimed at introducing new products and technologies in the upcoming quarters[18]. - The board emphasized the importance of strategic acquisitions to bolster the company's competitive position in the market[18]. - Future outlook includes a cautious but optimistic revenue guidance for the next fiscal period, reflecting market conditions and internal capabilities[18]. - The Group aims to transition from a freight forwarder to a technology solution provider through innovation and the use of cloud platforms and big data[137]. Challenges and Risks - The recurring impact of the COVID-19 pandemic adversely affected the Group's results during the Review Period, leading to factory closures, port congestion, and low demand for cargo spaces[131]. - The logistics market costs remain high, and the Group anticipates ongoing challenges due to the pandemic's impact on logistics efficiency[135]. - The Group's operating activities are mainly denominated in HKD, exposing it to foreign exchange risks from transactions in USD, EUR, RMB, and NTD[191]. - The Group faces foreign exchange risks due to transactions in multiple currencies including USD, EUR, RMB, and TWD, but has no specific hedging policies in place[195]. Corporate Governance - Management highlighted the importance of corporate governance and compliance in sustaining investor confidence and operational integrity[18]. - The board of directors confirmed that all financial information presented is accurate and complete, ensuring transparency for stakeholders[19].

Financial Performance - For the three months ended June 30, 2022, the revenue was HK$89,336,000, a decrease of 31% compared to HK$129,888,000 for the same period in 2021[20]. - The gross profit for the same period was HK$2,247,000, down 81% from HK$11,595,000 in the previous year[20]. - The loss before taxation was HK$2,954,000, compared to a profit of HK$3,980,000 in the previous period[20]. - The net loss for the period was HK$3,413,000, compared to a profit of HK$3,312,000 in the same period last year[20]. - Total comprehensive expenses for the period amounted to HK$3,507,000, a decrease from a total comprehensive income of HK$3,828,000 in the previous year[21]. - Basic and diluted loss per share was HK$0.41, compared to earnings per share of HK$0.40 in the prior year[21]. - The company reported a loss before tax of HK$2,954,000, reflecting a challenging operational environment[53]. - The Group recorded a net loss of approximately HK$3.4 million for the period ended 30 June 2022, compared to a net profit of approximately HK$3.3 million for the same period in 2021, reflecting a significant decline in performance due to the ongoing impact of COVID-19[87]. Revenue Breakdown - Revenue from air freight services was HK$74,763,000, down 29.5% from HK$106,151,000 in the previous year[51]. - Revenue from sea freight services decreased by 44.7% to HK$13,316,000 from HK$23,737,000 year-on-year[51]. - The newly introduced segment, entrusted management services for operating an online e-commerce platform, generated revenue of HK$1,257,000 during the period[51]. - Total revenue for the period ended June 30, 2022, was HK$89,336,000, with external revenue from freight forwarding services at HK$88,079,000 and related logistics services at HK$1,257,000[53]. - Revenue from Hong Kong was HK$88,079,000, while revenue from the People's Republic of China was HK$1,257,000[59]. Cost Management - Administrative expenses decreased to HK$4,811,000 from HK$6,344,000, reflecting a reduction of 24%[20]. - Sales and marketing expenses were reduced to HK$1,037,000, down 28% from HK$1,446,000 in the previous year[20]. - The company continues to focus on cost management strategies to mitigate the impact of declining revenues[20]. - The cost of services decreased by approximately 26.4% from approximately HK$118.3 million to approximately HK$87.1 million[109]. - Administrative expenses reduced from approximately HK$6.3 million in the previous period to about HK$4.8 million, primarily due to decreases in legal and compliance costs, professional fees, and depreciation[121]. Impairment and Other Income - The company recognized a reversal of impairment losses on trade receivables of HK$422,000, compared to a loss of HK$570,000 in the previous period[20]. - A reversal in impairment loss of approximately HK$0.4 million was recognized, compared to an additional impairment loss of approximately HK$0.6 million in the Previous Period[119]. - Other income increased to HK$322,000 from HK$76,000, representing a significant growth of 324%[20]. - The Group experienced a total other income loss of HK$322,000 in Q2 2022, compared to a loss of HK$76,000 in Q2 2021, indicating challenges in generating additional income streams[76]. Shareholder Information - As of June 30, 2022, Mr. Liao Daichun holds 182,690,000 shares, representing approximately 21.75% of the company's issued share capital[163]. - Mr. Thomas Loy has an interest in a controlled corporation, Ho Tat Limited, holding 126,652,000 shares, which is about 15.08% of the company's issued share capital[163]. - Mr. Luo Honghui holds 90,160,000 shares, which accounts for approximately 10.73% of the company's issued share capital[163]. - Zhongyuehui (Shenzhen) Holdings Group Limited is a beneficial owner of 75,990,000 shares, representing about 9.05% of the company's issued share capital[163]. Corporate Governance - The Audit Committee consists of three independent non-executive Directors, with Mr. Ho Yuk Ming Hugo as the chairman, responsible for monitoring the integrity of the company's financial statements[177]. - The company has established an Audit Committee to ensure compliance with GEM Listing Rules and CG Code[177]. - The company maintains a register of interests as required under section 336 of the SFO[160]. - The Company adopted a Share Option Scheme on August 14, 2018, to incentivize key staff[170].

Company Overview - Wan Leader International Limited is incorporated in the Cayman Islands and listed on the GEM of the Hong Kong Stock Exchange under stock code 8482[1][2]. - The registered office is located in Grand Cayman, while the headquarters in Hong Kong is situated at Hutchison Logistics Centre[19]. - Wan Leader International Limited's website is www.wanleader.com, providing additional information and updates about the company[20]. Financial Performance - The report includes a consolidated statement of profit or loss, which provides insights into the company's financial performance[10]. - The annual report includes a five-year financial summary, which highlights the company's financial trends over the past years[10]. - The Group achieved a significant increase in net profit to approximately HK$9.2 million for the year ended 31 March 2022, compared to HK$4.2 million in the previous year, reflecting a growth of about 119%[35]. - The Group's total revenue increased by approximately 102.5% from approximately HK$332.8 million in the previous year to approximately HK$674.0 million for the year[49]. - Revenue from air freight forwarding and related logistics services amounted to approximately HK$530.4 million, accounting for approximately 78.7% of total revenue[54]. - Revenue from sea freight forwarding and related logistics services increased significantly to approximately HK$139.2 million, representing approximately 20.7% of total revenue[55]. - Revenue from entrusted management services for operating an online e-commerce platform was approximately HK$4.4 million, accounting for approximately 0.6% of total revenue[56]. - The Group's cost of services increased by approximately 108.3% to approximately HK$629.2 million, primarily due to increased acquisition costs of air cargo space[57]. - Gross profit increased by approximately 45.8% to approximately HK$44.8 million, but gross profit margin decreased from approximately 9.3% to approximately 6.7%[58]. - The Group recorded a profit from continuing operations of approximately HK$9.2 million for the Year, compared to HK$0.5 million for the Previous Year, driven by an increase in segment profit from freight forwarding and related logistics services of approximately HK$15.9 million[75]. Operational Changes - The company has undergone significant changes in its board of directors, with multiple resignations and appointments in 2021[11][12]. - The Group has adopted a more prudent approach by selling operations in Shenzhen and Taipei to independent third parties, focusing fully on its operations in Hong Kong to restore financial stability[42]. - The Group has sold its operations in Shenzhen and Taipei to focus on its core business in Hong Kong, consolidating its financial position[44]. - The Group resolved to discontinue warehousing and related value-added services[157]. Market Outlook - The Group anticipates continued growth in air freight forwarding and related logistics services, driven by consolidation and co-loading of air cargo space, with stable supply from established supplier relationships[36]. - The Group is cautiously optimistic about the future freight forwarding market in Hong Kong, expecting a surge in demand for air cargo services as economies in the USA and Europe recover from the pandemic[41]. - The outlook for the upcoming year remains uncertain, with management committed to tightening costs and closely monitoring customer needs[123]. Management and Governance - The directors of Wan Leader International Limited confirm that the information in the annual report is accurate and complete in all material respects[6]. - The company has a dedicated compliance officer and various board committees to ensure governance and oversight[16][18]. - The Group's management remains vigilant in managing operations amidst unpredictable environments and is looking for opportunities to expand its business and markets[27]. - The Group's executive management team has extensive experience in logistics and finance, with over 31 years in the industry for the CEO[160]. - The Group's financial strategies are supported by a strong management team, including a new executive director with a background in banking and logistics[167]. Employee and Training Initiatives - The Group employed 33 staff as of 31 March 2022, an increase from 21 staff the previous year[124]. - The total costs for employee compensation and benefits were approximately HK$14.2 million, down from approximately HK$23.0 million in the previous year[125]. - The Group provided various types of training to employees, including air cargo operations and safety, as part of its commitment to employee development[135]. - The Group acquired medical insurance for eligible employees and provided COVID-19 screening tests to ensure employee safety during the year[141]. - Continuous training and development of staff are emphasized to maintain high standards in logistics operations[198]. Compliance and Environmental Responsibility - The Group's operations complied with all relevant laws and regulations that significantly impact its operations[132]. - The management promoted environmental protection through energy-saving programs and compliance with local environmental laws in Hong Kong, China, and Taiwan[133]. - The Group maintained good relations with stakeholders, with no material disputes reported during the year[143]. Financial Management - The Group's income tax expense for the Year was approximately HK$3.0 million, compared to HK$0.4 million for the Previous Year, reflecting a profit before taxation of approximately HK$12.3 million[74]. - Finance costs increased from approximately HK$0.1 million for the Previous Year to approximately HK$0.2 million for the Year, attributed to higher interest on bank borrowings[73]. - The gearing ratio of the Group decreased to approximately 5.9% at 31 March 2022 from approximately 11.6% at 31 March 2021, due to a decrease in lease liabilities and an increase in total equity[94]. - Cash and cash equivalents increased to approximately HK$44.3 million at 31 March 2022 from approximately HK$26.7 million at 31 March 2021[86]. - The Group did not recommend the payment of dividends for the Year[85]. Strategic Focus - The Group's strategic focus includes evaluating and expanding new businesses, particularly in the logistics sector[161]. - The Group aims to evolve from a freight forwarder to a technology solution provider through innovation and e-commerce platform management[46]. - The Group's future outlook includes leveraging technology advancements to improve service delivery and operational effectiveness[157]. - The Group plans to expand its business in the PRC, focusing on entrusted management services, in response to changing customer habits towards online services[117].

Company Overview - Wan Leader International Limited is incorporated in the Cayman Islands and listed on the GEM of the Hong Kong Stock Exchange under stock code 8482[1][5]. - The company has a registered office in the Cayman Islands and a principal place of business in Hong Kong, indicating its operational footprint[18]. - The company is primarily engaged in freight forwarding and related logistics services, as well as entrusted management services for an online e-commerce platform[35]. - The company was incorporated in the Cayman Islands and listed on the GEM of The Stock Exchange of Hong Kong Limited on September 5, 2018[34]. Financial Performance - Revenue for the nine months ended 31 December 2021 was HK$548,186,000, an increase of 127.6% compared to HK$241,504,000 for the same period in 2020[23]. - Gross profit for the nine months ended 31 December 2021 was HK$42,049,000, representing a 96.5% increase from HK$21,405,000 in the previous year[23]. - Profit before taxation for the nine months ended 31 December 2021 was HK$19,280,000, compared to HK$1,443,000 for the same period in 2020, indicating a significant improvement[23]. - Profit for the period from continuing operations was HK$15,931,000 for the nine months ended 31 December 2021, up from HK$1,420,000 in the previous year[23]. - Total comprehensive income for the period attributable to owners of the Company was HK$15,559,000, compared to HK$5,250,000 for the same period in 2020[24]. - Basic and diluted earnings per share from continuing operations for the nine months ended 31 December 2021 was 1.90 HK cents, compared to 0.22 HK cents in the previous year[26]. - The profit for the period was HK$15,940,000, a substantial increase from a profit of HK$4,771,000 in the previous period[28]. - As of December 31, 2021, the accumulated losses stood at HK$5,204,000, improved from HK$20,946,000 as of April 1, 2021[28]. - The total equity attributable to owners of the company reached HK$68,053,000 as of December 31, 2021, compared to HK$52,436,000 at the beginning of the period[28]. Revenue Breakdown - Revenue from freight forwarding and related logistics services was HK$545,639,000, up from HK$241,504,000 in the previous year, indicating a growth of about 126.3%[55]. - The geographical revenue breakdown shows that HK$533,572,000 was generated from Hong Kong, while HK$2,552,000 came from the People's Republic of China and Taiwan combined[58]. - Revenue from entrusted management services for operating an online e-commerce platform was HK$2,547,000 for the nine months ended December 31, 2021, compared to HK$0 in the same period of 2020[55]. Expenses and Costs - Administrative expenses decreased to HK$15,578,000 for the nine months ended 31 December 2021, down from HK$17,233,000 in the previous year[23]. - The group incurred an exchange loss of HK$384,000 for the nine months ended December 31, 2021, down from HK$944,000 in 2020, indicating improved currency management[72]. - The total finance costs for the nine months ended 31 December 2021 were HK$243,000, a decrease from HK$72,000 in the same period of 2020[78]. - Service costs increased by approximately 129.9% from HK$220.1 million to HK$506.1 million, primarily due to rising procurement costs for air freight capacity and increased unit costs for maritime agency services[114]. Corporate Governance - The company has undergone changes in its board of directors, with several resignations and new appointments in 2021, impacting governance and oversight[10][11]. - The audit committee has seen changes in its composition, with new members appointed to ensure compliance and financial integrity[14]. - The company is committed to enhancing corporate governance standards to meet increasing regulatory requirements and shareholder expectations[143]. - The substantial shareholders' interests in the company's shares were disclosed as required under the Securities and Futures Ordinance[163]. Future Outlook - The Group anticipates continued growth in air freight forwarding and related logistics services, driven by consolidation and co-loading of air cargo space[91]. - The management is cautiously optimistic about the future freight forwarding market in Hong Kong, expecting demand for air cargo services to increase as the global economy recovers post-pandemic[92]. - The Group plans to expand existing cargo arrangements by entering into more block space agreements to secure cargo space in a more cost-efficient manner[96]. Shareholder Information - As of December 31, 2021, Mr. Liao Daichun holds 182,690,000 shares, representing approximately 21.75% of the company's issued share capital[154]. - Mr. Thomas Loy has an interest in a controlled corporation holding 126,652,000 shares, which is about 15.08% of the company's issued share capital[154]. - The company has not purchased, sold, or redeemed any of its listed securities during the review period[150]. - No interim dividend was recommended for the review period[131].

Company Overview - Wan Leader International Limited is listed on the GEM of the Hong Kong Stock Exchange under stock code 8482, which is designed for small and mid-sized companies[1][2]. Financial Performance - The company reported a significant increase in revenue, with a year-on-year growth of 25% in the first half of 2021, reaching HKD 50 million[5]. - Revenue for the six months ended 30 September 2021 was HK$309,430,000, a 115.0% increase from HK$143,438,000 in the previous period[22]. - Gross profit for the same period was HK$23,233,000, representing a 56.5% increase compared to HK$14,848,000 in the previous period[22]. - Profit before taxation for the six months was HK$8,584,000, up from HK$2,533,000 in the previous period, marking a 239.5% increase[22]. - Profit for the period from continuing operations was HK$7,001,000, compared to HK$2,545,000 in the previous period, reflecting a 175.5% increase[22]. - Total comprehensive income for the period was HK$6,608,000, an increase from HK$5,435,000 in the previous period, representing a 21.5% growth[23]. - Basic and diluted earnings per share from continuing operations increased to HK$0.83 from HK$0.33 in the previous period, a 151.5% rise[25]. - The company reported a profit of HK$7,010,000 for the six months ended September 30, 2021, compared to a loss of HK$20,946,000 in the previous period[29]. - The Group recorded a net profit of approximately HK$7.0 million for the six months ended 30 September 2021, compared to HK$4.9 million in the previous period, representing a growth of approximately 42.86%[135]. Revenue Breakdown - Revenue from air freight services for the three months ended 30 September 2021 was HK$135,149,000, up 107.0% from HK$65,161,000 in 2020[55]. - Sea freight revenue for the six months ended 30 September 2021 was HK$67,490,000, a significant increase from HK$8,226,000 in the same period of 2020, representing a growth of 720.0%[55]. - Revenue from entrusted management services for the online e-commerce platform was HK$640,000 for the six months ended 30 September 2021, with no revenue reported in the previous year[55]. - The geographical revenue breakdown shows that HK$296,723,000 was generated from Hong Kong, while HK$12,062,000 came from Taiwan for the six months ended 30 September 2021[63]. - Revenue from air freight forwarding and related logistics services amounted to approximately HK$241.3 million, accounting for approximately 78.0% of total revenue, a decrease from 94.3% in the Previous Period[148]. - Revenue from sea freight forwarding and related logistics services increased significantly to approximately HK$67.5 million, representing approximately 21.8% of total revenue, up from 5.7% in the Previous Period[149]. Cost and Expenses - Administrative expenses decreased to HK$10,711,000 from HK$11,279,000, a reduction of 5.0%[22]. - Sales and marketing expenses increased to HK$3,851,000 from HK$1,828,000, a significant rise of 110.5%[22]. - The Group's cost of services rose by approximately 122.6% to approximately HK$286.2 million, primarily due to increased acquisition costs of air cargo space and higher unit costs of direct booking charges[153]. - Gross profit increased by approximately 56.8% to approximately HK$23.2 million, but gross profit margin decreased from approximately 10.3% to approximately 7.5%[154]. Cash Flow and Assets - Wan Leader's cash flow position remains strong, with a cash balance of HKD 15 million, providing a solid foundation for future investments[5]. - The company’s cash and bank balances increased to HK$43,430,000, up 62.5% from HK$26,694,000[27]. - The total cash and cash equivalents at the end of the period reached HK$43,430,000, compared to HK$20,024,000 at the end of the previous period, marking a 117% increase[36]. - Current assets rose significantly to HK$187,440,000, up 70.9% from HK$109,542,000 as of March 31, 2021[27]. - Trade and other receivables increased to HK$141,009,000, a substantial rise of 73.4% compared to HK$81,297,000[27]. - The Group's total cash and cash equivalents increased to approximately HK$43.4 million at 30 September 2021, up from approximately HK$26.7 million at 31 March 2021[186]. Strategic Initiatives - The company has outlined a future outlook with a projected revenue growth of 15% for the next fiscal year, driven by new product launches and market expansion strategies[5]. - Wan Leader is exploring potential mergers and acquisitions to expand its market presence and diversify its product portfolio, with a target completion date set for Q4 2021[5]. - The management has implemented new strategies aimed at enhancing customer experience, which is expected to contribute to a 10% increase in customer satisfaction scores[5]. - The Group has established stable supply connections with suppliers to facilitate logistics services to a wider range of destinations[136]. Compliance and Governance - The company is committed to maintaining compliance with GEM Listing Rules, ensuring transparency and accountability in its operations[5]. - The Group's financial statements for the six months ended 30 September 2021 are unaudited[107]. Market Outlook - The Group is cautiously optimistic about the future freight forwarding market in Hong Kong, expecting significant demand for air cargo services as economies in the USA and Europe recover post-pandemic[137]. - The management anticipates continued growth in air freight forwarding and related logistics services, driven by consolidation and co-loading of air cargo space[136].

Financial Performance - Wan Leader International Limited reported unaudited condensed consolidated financial results for the three months ended June 30, 2021, with comparative figures for the same period in 2020[20]. - Revenue for the three months ended June 30, 2021, was HK$129,888,000, representing a 76% increase from HK$73,744,000 in the same period of 2020[22]. - Gross profit for the same period was HK$11,786,000, up 29% from HK$9,148,000 year-over-year[22]. - Profit before taxation increased to HK$3,980,000, a 16.5% rise compared to HK$3,415,000 in the previous year[22]. - Profit for the period from continuing operations was HK$3,312,000, slightly down from HK$3,491,000 in 2020[22]. - Total comprehensive income for the period was HK$2,872,000, down from HK$4,742,000 in the same quarter of 2020[24]. - Earnings per share from continuing operations was HK$0.40, compared to HK$0.43 in the previous year[24]. - The company recognized impairment losses on trade receivables of HK$570,000, significantly higher than HK$25,000 in the same period last year[22]. - Sales and marketing expenses increased to HK$1,446,000, up from HK$817,000 in 2020, indicating a focus on market expansion[22]. - Other income decreased to HK$76,000 from HK$540,000 year-over-year, reflecting a decline in non-operational revenue sources[22]. - The group reported a current tax expense of HK$825,000 for the period, with no deferred tax provision for the previous year[55]. - The group incurred total finance costs of HK$49,000, an increase from HK$28,000 in the prior year[64]. - The group reported a gain on disposal of subsidiaries amounting to HK$850,000 during the period[64]. - The profit for the period attributable to owners of the Company was HK$3,321,000 for the review period, down from HK$4,624,000 in the previous period[71]. - The Group's total revenue increased by approximately 76.3%, from approximately HK$73.7 million in the previous period to approximately HK$129.9 million in the review period[90]. Revenue Breakdown - For the three months ended June 30, 2021, the Group's revenue from freight forwarding and related logistics services was HK$129,888,000, a significant increase from HK$73,744,000 in the same period of 2020, representing an increase of 76.2%[49]. - Air freight revenue for the same period was HK$106,151,000, up from HK$70,051,000, reflecting a growth of 51.5% year-over-year[49]. - Sea freight revenue increased to HK$23,737,000 from HK$3,693,000, marking a substantial increase of 541.5% compared to the previous year[49]. - Revenue from Hong Kong increased significantly to HK$117,821,000, up 105% from HK$57,500,000 in 2020[53]. - Revenue from Taiwan decreased slightly to HK$12,062,000, down 13% from HK$13,949,000 in 2020[53]. - Revenue from air freight forwarding and related logistics services amounted to approximately HK$106.2 million, accounting for approximately 81.8% of total revenue, compared to 95.0% in the previous period[93]. - Revenue from sea freight forwarding and related logistics services increased significantly to approximately HK$23.7 million, representing approximately 18.2% of total revenue, up from 5.0% in the previous period[94]. Corporate Governance and Compliance - The Board of Directors confirmed that the information in the report is accurate and complete in all material respects, ensuring transparency for investors[6]. - The Company is committed to compliance with the GEM Listing Rules, reflecting its dedication to regulatory standards[6]. - The Company will continue to enhance its corporate governance standards to comply with tightening regulatory requirements and meet rising shareholder expectations[125]. - The Company adopted the Required Standard of Dealings for Directors, confirming compliance throughout the Review Period[130]. - The Company complied with the Corporate Governance Code provisions during the Review Period from April 1, 2021, to June 30, 2021, except for deviation from code provision A.2.1[123]. - The Audit Committee consists of three independent non-executive Directors, with Mr. Ho Yuk Ming Hugo serving as the chairman, responsible for overseeing the integrity of the company's financial statements[166]. - The Audit Committee has reviewed the unaudited consolidated results of the Group for the review period[170]. Management and Board Changes - The Company has undergone changes in its Board of Directors, with new appointments and resignations noted, which may impact governance and strategic direction[11][12]. - The roles of chairman and chief executive officer were separated on August 20, 2021, with Mr. Liao Daichun appointed as the chief executive director[124]. - Mr. Lo Wing Sang resigned as company secretary and authorized representative on May 28, 2021[164]. - Mr. Chow Ming Po Aaron was appointed as an independent non-executive director of Grand Brilliance Group Holdings Limited on June 18, 2021[164]. - Mr. Ho Yuk Ming Hugo retired as an independent non-executive director of Wuxi Sunlit Science and Technology Company Limited effective June 18, 2021[165]. Market Outlook - The Group anticipates continued growth in air freight forwarding and related logistics services, driven by consolidation and co-loading of air cargo space[81]. - The management is cautiously optimistic about the future freight forwarding market in Hong Kong, expecting strong demand for air cargo services as economies recover post-pandemic[85]. - The Group aims to expand existing cargo arrangements by entering into more block space agreements with suppliers[87]. Shareholding and Securities - Mr. Thomas Loy held a long position of 253,302,000 shares, representing approximately 30.16% of the Company's issued share capital as of June 30, 2021[139]. - Mr. Liao Daichun, as a beneficial owner, held 182,690,000 shares, which is about 21.75% of the Company's issued share capital[139]. - The Company did not purchase, sell, or redeem any of its listed securities from April 1, 2021, to June 30, 2021[132]. - No competing business was reported by Directors or controlling shareholders during the Review Period[131]. - The Company adopted a Share Option Scheme on August 14, 2018, aimed at incentivizing key staff[157]. - There were no outstanding share options under the Share Option Scheme as of June 30, 2021[158]. - The company has not entered into any arrangements enabling directors to acquire benefits through share acquisition during the review period[151]. - The compliance adviser, Glory Sun Securities Limited, has no interests in the Group other than the compliance adviser agreement dated May 30, 2019[159]. - No other parties, apart from the directors and chief executive, have registered interests or short positions in the shares of the company as of June 30, 2021[156].

Air Cargo Demand and Market Conditions - The Group experienced a sustained increase in demand for air cargo space due to the suspension of global air flights, with many routine passenger flights cancelled [22]. - The air cargo industry has officially recovered from the COVID-19 pandemic, leading to a shift from sea shipping to air shipping due to extreme delays from port congestion [23]. - Airfreight rates remain highly unpredictable, influenced by stricter quarantine rules in Hong Kong and strong demand for certain cargo routes [23]. - The Group anticipates rapid fluctuations in air cargo space costs due to ongoing competition and market uncertainties [37]. - The airfreight rates are expected to rise in the upcoming months, indicating a potential recovery in demand for air cargo services as economies in the USA and Europe recover from the pandemic [105]. Financial Performance - The Group's total revenue increased by approximately 87.0% to approximately HK$332.8 million for the year ended 31 March 2021, compared to approximately HK$178.0 million in the previous year [30]. - Gross profit rose by approximately 156.2% to approximately HK$31.0 million in the year, up from HK$12.1 million in the previous year [30]. - The Group turned around from a net loss of approximately HK$22.8 million in the previous year to a net profit of approximately HK$4.2 million in the year [30]. - Revenue from air freight forwarding and related logistics services amounted to approximately HK$299.9 million, accounting for approximately 90.1% of the Group's total revenue [42]. - The Group's cost of services rose by approximately 82.0% to approximately HK$302.0 million from approximately HK$165.9 million in the previous year, primarily due to increased acquisition costs of air cargo space [44][47]. - Gross profit increased by approximately 154.5% to approximately HK$30.8 million from approximately HK$12.1 million, with gross profit margin improving from 6.8% to 9.3% [45][48]. - The Group recorded a profit from continuing operations of approximately HK$0.5 million, a turnaround from a loss of approximately HK$19.3 million in the previous year [62][67]. - The Group recorded a profit of approximately HK$0.5 million for the year, a turnaround from a loss of approximately HK$19.3 million in the previous year, primarily due to an increase in gross profit of approximately HK$18.7 million and government subsidies of approximately HK$1.0 million [68]. Operational Changes and Strategic Focus - The Group discontinued its operations in warehousing and related value-added services after disposing of its equity interest in Fu Yo Warehouse Logistics Company Limited [29]. - The Group has implemented cost-control and operational efficiency measures to maximize profitability [36]. - The Group resolved not to rent a new warehouse, resulting in a net proceeds amount of HK$10,956,000 allocated for settling commission, deposits, and rental payments [134]. - The Group has resolved to discontinue warehousing and related value-added services, indicating a strategic shift in operations [137]. - The Group decided not to develop its own trucking fleet, which reflects a change in operational strategy [136]. Employee and Management Information - The total employee compensation and benefits cost for the year was approximately HK$23.0 million, an increase from approximately HK$21.1 million in the previous year [112]. - As of March 31, 2021, the Group employed 30 staff members, a reduction from 59 staff members in the previous year [111]. - The management emphasizes the importance of maintaining harmonious relationships with employees, customers, suppliers, and subcontractors [128]. - The Group has provided medical insurance and various training programs for eligible employees during the year [128]. - The management team includes individuals with diverse backgrounds in finance, logistics, and hospitality, enhancing strategic capabilities [141][146][149][152]. Governance and Compliance - The company has a strong focus on corporate governance, with independent directors providing advice on significant decisions and connected transactions [154][161]. - The board includes members with extensive experience in both local and international markets, supporting strategic growth initiatives [146][155]. - The company emphasizes the importance of risk management and corporate governance in its operational strategy [155][161]. - The company has adhered to corporate governance guidelines from April 1, 2020, to March 31, 2021, with a noted deviation from code provision A.2.1 [196]. - The board composition reflects a balance of qualifications, skills, and experience necessary for effective business leadership [199]. Financial Position and Investments - The Group's cash and cash equivalents increased to approximately HK$26.7 million at March 31, 2021, from approximately HK$15.9 million at March 31, 2020 [80]. - The Group had bank borrowings of approximately HK$3.6 million at March 31, 2021, compared to nil at March 31, 2020 [81]. - The gearing ratio decreased to approximately 11.6% at March 31, 2021, from approximately 13.8% at March 31, 2020, due to a decrease in lease liabilities and an increase in total equity [82]. - The Group invested approximately HK$1.6 million in property, plant, and equipment during the year, mainly for leasehold improvements in the Taipei office and right-of-use assets in Shenzhen and Hong Kong [93]. - The Group has not yet utilized HK$9,786,000 of the net proceeds as of 31 March 2021, indicating available funds for future use [137].

Financial Performance - The unaudited condensed consolidated financial results for the nine months ended December 31, 2020, were presented, comparing with the corresponding period in 2019 [20]. - The Group's performance during the review period showed significant financial metrics, although specific figures were not detailed in the provided content [21]. - Revenue for the three months ended December 31, 2020, was HK$109,972,000, representing a 72.5% increase from HK$63,755,000 in the same period of 2019 [22]. - Gross profit for the nine months ended December 31, 2020, was HK$27,442,000, up 128.1% from HK$12,029,000 in the previous year [22]. - The company reported a profit of HK$4,319,000 for the nine months ended December 31, 2020, compared to a loss of HK$15,866,000 in the same period of 2019 [22]. - Total comprehensive income for the nine months ended December 31, 2020, was HK$5,250,000, compared to a total comprehensive loss of HK$15,834,000 in the previous year [24]. - The Group's total revenue increased by approximately 74.9% to approximately HK$274.6 million for the nine months ended 31 December 2020, compared to approximately HK$157.0 million in the previous period [77]. - Gross profit increased by approximately 128.3% from approximately HK$12.0 million in the Previous Period to approximately HK$27.4 million in the Review Period [96]. Compliance and Governance - The Board of Directors confirmed the accuracy and completeness of the information contained in the report, ensuring no misleading statements were present [6]. - The Company has a commitment to compliance and governance, as indicated by the structured board committees and their responsibilities [12]. - The Group operates under the GEM Listing Rules, which are designed to provide transparency and governance for investors [6]. - All directors confirmed compliance with the trading standards during the review period [135]. Risk Factors - The report emphasizes the importance of understanding the investment risks associated with small and mid-sized companies listed on GEM [3]. - The report highlights the potential for high market volatility in securities traded on GEM, which may affect investor decisions [4]. Segment Information - The Group's operating segments are focused on freight forwarding and related logistics services, and warehousing and related value-added services, with no analysis of segment assets and liabilities provided [45]. - For the nine months ended December 31, 2020, the Group reported total revenue of HK$274,563,000, with external sales from freight forwarding services contributing HK$241,504,000 and warehousing services contributing HK$33,059,000 [49]. - The segment results for freight forwarding and related logistics services were HK$4,757,000, while warehousing and related value-added services generated segment results of HK$2,665,000, leading to a total segment result of HK$7,422,000 [49]. Shareholder Information - As of December 31, 2020, Mr. Thomas Loy holds a long position of 421,302,000 shares, representing approximately 50.16% of the company's issued share capital [138]. - Ho Tat Limited, wholly owned by Mr. Thomas Loy, also holds 421,302,000 shares, indicating a beneficial ownership of 50.16% [138]. - Mr. Liao Daichun is a beneficial owner of 68,440,000 shares, which accounts for approximately 8.15% of the company's shareholding [148]. Taxation - The Hong Kong profits tax for the current period was calculated at 8.25% on the first HK$2 million of profits, with a flat rate of 16.5% on profits exceeding that amount [58]. - The tax rate for the PRC subsidiary was 25% for the nine months ended December 31, 2020 [58]. - The Group recorded a deferred tax credit of HK$210,000 for the nine months ended December 31, 2020, compared to a deferred tax expense of HK$729,000 in the previous year [57]. Administrative Expenses - Administrative expenses decreased to HK$22,335,000 for the nine months ended December 31, 2020, from HK$23,751,000 in the previous year, reflecting a reduction of 6.0% [22]. - Administrative expenses decreased slightly to approximately HK$22.3 million from approximately HK$23.8 million in the Previous Period, mainly due to a reduction in legal and compliance costs [107]. Future Outlook - The management is cautious yet optimistic about future business and development, implementing cost-control measures and exploring collaboration opportunities [83]. - The Group anticipates fluctuations in air cargo space costs due to increased competition and limited supply, avoiding long-term commitments with customers [84].

Financial Performance - For the six months ended September 30, 2020, the Group reported a revenue of HKD 50 million, representing a decrease of 15% compared to HKD 58.8 million for the same period in 2019[20]. - The Group's net loss for the Review Period was HKD 5 million, compared to a net profit of HKD 2 million in the Previous Period, indicating a significant decline in profitability[20]. - The total comprehensive loss for the six months ended September 30, 2020, was HKD 5 million, compared to a total comprehensive income of HKD 2 million for the same period in 2019[20]. - Revenue for the three months ended September 30, 2020, was HK$80,061,000, representing a 59.2% increase from HK$50,322,000 in the same period of 2019[22]. - Gross profit for the six months ended September 30, 2020, was HK$18,529,000, up 135.5% from HK$7,866,000 in the same period of 2019[22]. - Profit before taxation for the three months ended September 30, 2020, was HK$827,000, compared to a loss of HK$5,140,000 in the same period of 2019[22]. - Total comprehensive income for the six months ended September 30, 2020, was HK$5,435,000, a significant improvement from a loss of HK$9,232,000 in the same period of 2019[23]. - For the six months ended September 30, 2020, the company reported a profit of HK$5,223,000, compared to a loss of HK$8,740,000 for the same period in 2019, marking a significant turnaround[25]. - The total comprehensive income for the period was HK$5,696,000, compared to a total comprehensive expense of HK$8,833,000 in the previous year[25]. - The Group turned around from a net loss of approximately HK$9.1 million in the Previous Period to a net profit of approximately HK$5.0 million in the Review Period[98]. Cash Flow and Liquidity - The Group's cash and cash equivalents as of September 30, 2020, amounted to HKD 10 million, down from HKD 15 million as of March 31, 2020, reflecting a decrease in liquidity[20]. - Net cash from operating activities was HK$3,300,000, a recovery from a cash outflow of HK$9,917,000 in the prior period[29]. - The company recorded a net increase in cash and cash equivalents of HK$4,097,000, compared to a decrease of HK$16,185,000 in the same period last year[29]. - Cash and cash equivalents at the end of the period stood at HK$20,024,000, up from HK$15,856,000 at the beginning of the period[29]. - The Group's cash and cash equivalents increased to approximately HK$20.0 million at 30 September 2020, up from approximately HK$15.9 million at 31 March 2020[149][153]. - The gearing ratio increased to approximately 17.8% at 30 September 2020 from approximately 13.8% at 31 March 2020, due to new bank borrowings raised[151]. Revenue Growth - For the six months ended September 30, 2020, total revenue was HK$164.591 million, a 76.5% increase compared to HK$93.212 million for the same period in 2019[49]. - Revenue from freight forwarding and related logistics services was HK$143.438 million, up 81.5% from HK$79.065 million in the prior year[49]. - Air freight revenue increased to HK$135.212 million, a 78.5% rise from HK$75.801 million in the previous year[43]. - Warehousing and related value-added services revenue reached HK$21.153 million, a 49.5% increase from HK$14.147 million in the same period last year[49]. - The Group's total revenue increased by approximately 76.6% from approximately HK$93.2 million in the Previous Period to approximately HK$164.6 million in the Review Period[109]. Strategic Initiatives - The Group plans to enhance its market presence by expanding its product offerings and exploring new market segments in the upcoming fiscal year[20]. - The management indicated that they are focusing on cost control measures to improve financial performance in the next reporting period[20]. - The Group is investing in research and development to innovate new products aimed at increasing competitiveness in the market[20]. - The Group is considering potential strategic partnerships to facilitate market expansion and enhance operational efficiency[20]. - The management emphasized the importance of adapting to market changes and consumer preferences to drive future growth[20]. Operational Efficiency - The Group is implementing cost-control and operational efficiency measures to maximize profitability amid the challenging market conditions[104]. - The management is closely monitoring market conditions and adjusting services in response to decreased demand from electronic product manufacturers due to COVID-19[106]. - The Group's cost of services increased by approximately 71.2% to approximately HK$146.1 million, primarily due to increased acquisition costs of air cargo space and higher subcontracting charges[116]. Employee and Management Costs - The remuneration for key management personnel for the six months ended 30 September 2020 was HK$2.738 million, down from HK$3.605 million in the previous period[94]. - As of 30 September 2020, the Group employed 50 staff in Hong Kong, 7 in the PRC, and 8 in Taiwan, with total employee compensation and benefits costs amounting to approximately HK$10.1 million, an increase from approximately HK$9.5 million in the previous period[175]. Compliance and Governance - The Group's corporate governance practices complied with the GEM Listing Rules from 1 April 2020 to 30 September 2020[192]. - The Directors do not recommend the payment of an interim dividend for the Review Period[166]. - The Group's directors confirmed compliance with the Required Standard of Dealings throughout the review period[193].