GRAND POWER LOGISTICS GROUP LIMITED 裕 程 物 流 集 團 有 限 公 司 （ 於 開 曼 群 島 註 冊 成 立 的 有 限 公 司 ） （股份代號： 8489） （「本公司」，連同其附屬公司統稱「本集團」） 提名委員會職權範圍 本公司提名委員會（「委員會」）的職權範圍乃根據香港聯合交易所有限公司（「交易所」） GEM證券上市規則（「GEM上市規則」）而編製。 — 1 — 2. 委員會成員須由董事會委任，且由不少於三名成員組成。委員會過半數成員須為獨 立非執行董事（「獨立非執行董事」），至少一名不同性別的董事。 3. 委員會主席應由董事會委任，且必須為董事會主席或獨立非執行董事。 4. 在上文第2條及第3條的規限下，董事會可不時酌情更改委員會的成員組合。倘委員 會成員不再為董事會成員，其於委員會的任命將自動撤銷。 會議次數及程序 權限 — 2 — 6. 委員會應至少每年開會一次，並因應工作需要舉行額外會議。如任何委員會成員要求， 委員會主席必須召開會議。 7. 會議法定人數應為兩名委員會成員，其中一名須為獨立非執行董事。 8. 定期會議及（在可行的情況下）所有其他會議的議 ...

GRAND POWER LOGISTICS GROUP LIMITED 裕 程 物 流 集 團 有 限 公 司 （ 於 開 曼 群 島 註 冊 成 立 的 有 限 公 司 ） （股份代號： 8489） 董事名單與其角色和職能 王緗漌 香偉強 獨立非執行董事 譚家熙 吳鴻揮 楊光偉 董事會轄下設有四個委員會。下表提供各董事會成員在該等委員會所擔任職位的資料。 裕程物流集團有限公司（「本公司」）董事（「董事」）會（「董事會」）成員載列如下： 執行董事 趙彤 （主席兼首席執行官） 謝志坤 非執行董事 | | 董事委員會 | 審核 | 薪酬 | 提名 | 財務報告 | | --- | --- | --- | --- | --- | --- | | 董事 | | 委員會 | 委員會 | 委員會 | 委員會 | | 趙彤 | | | | | | | 謝志坤 | | | | | | | 王緗漌 | | | | M | | | 香偉強 | | | | | M | | 譚家熙 | | M | C | M | M | | 吳鴻揮 | | M | M | C | M | | 楊光偉 | | C | M | M | C | 附註： ...

香港交易及結算所有限公司及香港聯合交易所有限公司對本公告之內容概不負責，對其 準確性或完整性亦不發表任何聲明，並明確表示，概不就因本公告全部或任何部分內容 而產生或因倚賴該等內容而引致之任何損失承擔任何責任。 GRAND POWER LOGISTICS GROUP LIMITED 裕 程 物 流 集 團 有 限 公 司 （ 於 開 曼 群 島 註 冊 成 立 的 有 限 公 司 ） 上述變更是根據香港聯合交易所有限公司GEM證券上市規則（「GEM上市規則」）及GEM上 市規則附錄C1所載企業管治守則的修訂而作出的，該修訂於二零二五年七月一日生效。 董事會認為，良好的企業管治對本公司的整體表現至關重要。董事會亦相信，實施該等 變更可增強董事會的效率及多元化，並進一步提升本公司整體的良好企業管治常規。 承董事會命 裕程物流集團有限公司 主席、首席執行官兼執行董事 趙彤 香港，二零二五年八月二十六日 於本公告日期，執行董事為趙彤先生及謝志坤先生；非執行董事為王緗漌女士及香偉強 先生；以及獨立非執行董事為譚家熙先生、吳鴻揮先生及楊光偉先生。 （股份代號： 8489） 提名委員會組成變動 裕程物流集團有限公司（「本公司 ...

香港交易及結算所有限公司及香港聯合交易所有限公司對本公告之內容概不負責，對其 準確性或完整性亦不發表任何聲明，並明確表示，概不就因本公告全部或任何部分內容 而產生或因倚賴該等內容而引致之任何損失承擔任何責任。 GRAND POWER LOGISTICS GROUP LIMITED 裕程物流集團有限公司 （於開曼群島註冊成立的有限公司） （股份代號：8489） 董事會會議日期 裕程物流集團有限公司（「本公司」）董事（「董事」）會（「董事會」）謹此宣佈，董事會將於二 零二五年八月二十六日（星期二）舉行會議，藉以（其中包括）考慮及批准本公司及其附屬 公司截至二零二五年六月三十日止六個月之未經審核中期業績及其刊發，以及考慮派發 中期股息（如有）。 承董事會命 本公告將於自刊發日期起計最少一連七日刊載於聯交所網站 www.hkexnews.hk 之「最新上 市公司公告」頁內及本公司網站www.grandpowerexpress.com內。 於本公告日期，執行董事為趙彤先生及謝志坤先生；非執行董事為王緗漌女士及香偉強 先生；以及獨立非執行董事為譚家熙先生、吳鴻揮先生及楊光偉先生。 本公告的資料乃遵照《香港聯合交易所有限公 ...

香港交易及結算所有限公司及香港聯合交易所有限公司對本公告之內容概不負責，對其 準確性或完整性亦不發表任何聲明，並明確表示，概不就因本公告全部或任何部分內容 而產生或因倚賴該等內容而引致之任何損失承擔任何責任。 GRAND POWER LOGISTICS GROUP LIMITED 裕 程 物 流 集 團 有 限 公 司 （ 於 開 曼 群 島 註 冊 成 立 的 有 限 公 司 ） （股份代號： 8489） 盈利警告 本公司董事（「董事」）會（「董事會」）謹此知會本公司股東及潛在投資者，根據目前可得資 料及對本集團表現的初步評估，本集團預期(i)截至二零二五年六月三十日止六個月（「二 零二五年上半年」）錄得收益介乎約325,000,000港元至約335,000,000港元，而截至二零二四 年六月三十日止六個月（「二零二四年上半年」）的收益約為426,600,000港元；(ii)二零二五 年上半年錄得毛損介乎約10,000,000港元至約15,000,000港元，而二零二四年上半年的毛利 約 為10,500,000港元；及(iii)二零二五年上半年錄得淨虧損介乎約30,000,000港元至約 40,000,00 ...

股份發行人及根據《上市規則》第十九B章上市的香港預託證券發行人的證券變動月報表 截至月份: 2025年7月31日 狀態: 新提交 致：香港交易及結算所有限公司 公司名稱: 裕程物流集團有限公司 呈交日期: 2025年8月4日 I. 法定/註冊股本變動 | 1. 股份分類 | 普通股 | 股份類別 | 不適用 | | | 於香港聯交所上市 (註1) | | 是 | | | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | | 證券代號 (如上市) | 08489 | 說明 | | | | | | | | | | | 法定/註冊股份數目 | | | 面值 | | | 法定/註冊股本 | | | 上月底結存 | | | 2,000,000,000 | HKD | | 0.01 | HKD | | 20,000,000 | | 增加 / 減少 (-) | | | | | | | HKD | | | | 本月底結存 | | | 2,000,000,000 | HKD | | 0.01 | HKD | | 20,000,000 | 本月底法定/註冊股本 ...

Financial Performance - Total revenue for the fiscal year 2024 was approximately HKD 1,058,200,000, representing an increase of about 28.2% compared to HKD 825,700,000 in fiscal year 2023[12]. - Air freight forwarding services generated revenue of approximately HKD 1,045,000,000, up 28.4% from HKD 813,700,000 in the previous year, driven by strong demand from a new major customer[14]. - Sea freight forwarding services saw revenue increase by approximately 9.2% to about HKD 13,200,000, compared to HKD 12,000,000 in fiscal year 2023[15]. - Gross profit decreased by approximately 23.8% to about HKD 39,700,000, down from HKD 52,100,000 in fiscal year 2023, reflecting the inability to offset rising service costs with revenue growth[17]. - Gross margin fell to approximately 3.8% in fiscal year 2024, down from 6.3% in the previous year, due to challenging market conditions and reduced pricing power[17]. - The net loss for the year was reduced to approximately HKD 3,700,000 in fiscal year 2024, compared to a net loss of approximately HKD 1,500,000 in fiscal year 2023, and significantly down from HKD 11,100,000 recorded in the first six months of fiscal year 2024[23]. Cost and Expenses - Service costs rose by approximately 31.6% to about HKD 1,018,400,000, up from HKD 773,600,000 in the previous year, primarily due to increased expenses related to chartered air freight services[16]. - Administrative and other operating expenses decreased by approximately 18.1% to about HKD 40,200,000 in the fiscal year 2024, down from HKD 49,000,000 in fiscal year 2023, due to strict cost control measures[20]. - Financing costs increased by approximately 42.5% to about HKD 3,500,000 in fiscal year 2024, up from HKD 2,500,000 in fiscal year 2023, primarily due to increased operational and capital demands[21]. Assets and Liabilities - As of December 31, 2024, the debt-to-equity ratio was approximately 38.0%, down from 41.7% on December 31, 2023, with total debt of about HKD 48,200,000 and total equity of about HKD 126,700,000[24]. - Cash and bank balances increased to approximately HKD 31,300,000 as of December 31, 2024, compared to HKD 25,900,000 on December 31, 2023[25]. - Trade receivables decreased by approximately 7.2% to about HKD 201,400,000 as of December 31, 2024, down from HKD 217,200,000 as of December 31, 2023, with an average collection period reduced to approximately 72.2 days[27]. - Trade payables decreased by approximately 3.5% to about HKD 110,700,000 as of December 31, 2024, down from HKD 114,700,000 as of December 31, 2023, with an average payment period reduced to approximately 40.4 days[27]. - Interest-bearing borrowings amounted to approximately HKD 46,900,000 as of December 31, 2024, down from HKD 53,500,000 as of December 31, 2023[28]. Shareholder and Governance - The board presented the audited consolidated financial statements for the fiscal year 2024[57]. - The board of directors does not recommend any final dividend for the fiscal year 2024, consistent with the previous fiscal year[61]. - As of December 31, 2024, the distributable reserves available to shareholders are approximately HKD 27,041,000, a decrease from HKD 28,310,000 as of December 31, 2023[66]. - The company has established a compensation committee to review and propose overall compensation policies for all directors and senior management, considering economic conditions and individual performance[84]. - The company has adopted the corporate governance code as per GEM Listing Rules Appendix C1[106]. Risk Management - The company has identified key risks including economic risks related to international freight forwarding, social and political risks affecting marketing and sales, sales and pricing risks due to demand fluctuations, and credit risks from slow customer payments[88]. - The group manages credit risk by selecting counterparties based on their credit history and market reputation, ensuring transactions are only conducted with reputable third parties[38]. - The company has a robust anti-corruption policy to ensure compliance with relevant laws and regulations[151]. Employee and Culture - As of December 31, 2024, the group had 37 full-time employees, down from 43 in the previous year, with total employee costs of approximately HKD 17.6 million compared to HKD 21.1 million in the previous fiscal year[41]. - The company promotes a culture of teamwork and recognizes employee passion as crucial for driving organizational performance[110]. - The company has adopted a diversity policy aimed at achieving measurable goals related to age, skills, knowledge, and gender diversity[119]. Environmental and Social Responsibility - The company is committed to environmentally sustainable operations and regularly reviews its environmental practices to enhance sustainability[97]. - The company emphasizes the importance of maintaining good relationships with employees, customers, suppliers, and other stakeholders to achieve long-term goals and sustainable development[89]. Audit and Compliance - The Audit Committee held four meetings during the fiscal year 2024, focusing on reviewing financial statements and internal control effectiveness[133][135]. - The independent auditor's report confirms that the consolidated financial statements present a true and fair view of the group's financial position as of December 31, 2024[166]. - The company has established internal control measures to ensure compliance with applicable laws and regulations, including GEM listing rules[147].

Financial Performance - The group's revenue for the fiscal year 2024 was approximately HKD 1,058,172,000, representing an increase of 28.2% compared to HKD 825,726,000 in fiscal year 2023[6] - The annual loss for the fiscal year 2024 was approximately HKD 3,655,000, compared to a loss of HKD 1,505,000 in fiscal year 2023, although it significantly decreased from a net loss of approximately HKD 11,100,000 recorded for the six months ending June 30, 2024[6] - The gross profit for the fiscal year 2024 was HKD 39,735,000, down from HKD 52,123,000 in fiscal year 2023[6] - The total comprehensive loss for the fiscal year 2024 amounted to HKD 7,763,000, compared to HKD 2,095,000 in fiscal year 2023[7] - The group reported a financing cost of HKD 3,529,000 for the fiscal year 2024, compared to HKD 2,476,000 in fiscal year 2023[6] - The company reported a loss attributable to owners of the company of HKD 3,655,000 in fiscal year 2024, compared to a loss of HKD 1,505,000 in fiscal year 2023[42] - The net loss for the year was reduced to approximately HKD 3,700,000 in fiscal year 2024, compared to a net loss of approximately HKD 1,500,000 in fiscal year 2023, and significantly down from HKD 11,100,000 recorded in the first half of fiscal year 2024[61] Revenue Breakdown - Revenue from air freight forwarding services increased to HKD 1,045,017 thousand in 2024, up from HKD 813,684 thousand in 2023, representing a growth of 28.5%[21] - Total revenue for the group reached HKD 1,058,172 thousand in 2024, compared to HKD 825,726 thousand in 2023, marking an increase of 28.1%[21] - Air freight forwarding revenue increased by approximately 28.4% to about HKD 1,045,000,000 in fiscal year 2024, up from HKD 813,700,000 in fiscal year 2023[53] - Sea freight forwarding revenue rose by approximately 9.2% to about HKD 13,200,000 in fiscal year 2024, compared to HKD 12,000,000 in fiscal year 2023[54] - Revenue from Europe for air freight forwarding services rose to HKD 398,780 thousand in 2024, up from HKD 259,571 thousand in 2023, an increase of 53.8%[31] Assets and Liabilities - The group's total assets less current liabilities as of December 31, 2024, were HKD 127,203,000, down from HKD 135,238,000 in the previous year[9] - The net asset value of the group as of December 31, 2024, was HKD 126,655,000, compared to HKD 134,418,000 in the previous year[9] - As of December 31, 2024, the debt-to-equity ratio was approximately 38.0%, down from 41.7% on December 31, 2023, with total debt of about HKD 48,200,000 and total equity of about HKD 126,700,000[64] - Interest-bearing borrowings amounted to approximately HKD 46,900,000 as of December 31, 2024, down from HKD 53,500,000 on December 31, 2023[68] Cash Flow and Receivables - The group's cash and bank balances increased to HKD 31,263,000 from HKD 25,911,000 in the previous year[9] - Trade and other receivables decreased to HKD 203,853,000 from HKD 219,709,000 in the previous year[9] - Trade receivables decreased to HKD 201,444,000 in fiscal year 2024 from HKD 217,168,000 in fiscal year 2023[44] - Trade receivables decreased by approximately 7.2% to about HKD 201,400,000 as of December 31, 2024, down from HKD 217,200,000 on December 31, 2023, with average collection days reduced to approximately 72.2 days[67] Dividends and Shareholder Information - The group did not recommend the payment of any final dividend for the fiscal year 2024[6] - No dividends were declared or proposed for both fiscal years 2024 and 2023[41] Operational Costs - Service costs increased by approximately 31.6% to about HKD 1,018,400,000 in fiscal year 2024, up from HKD 773,600,000 in fiscal year 2023[55] - Administrative and other operating expenses decreased by approximately 18.1% to about HKD 40,200,000 in the fiscal year 2024, down from HKD 49,000,000 in fiscal year 2023, due to strict cost control measures[58] - Financing costs increased by approximately 42.5% to about HKD 3,500,000 in fiscal year 2024, up from HKD 2,500,000 in fiscal year 2023, primarily due to increased operational and capital demands[59] Corporate Governance - The roles of Chairman and CEO are currently held by Mr. Zhao Tong, which the board believes provides strong and consistent leadership for the group's strategic planning and management[80] - The board will regularly review the necessity of appointing different individuals to the roles of Chairman and CEO to maintain good corporate governance[81] - The company has adopted a standard code of conduct for directors' securities trading, ensuring compliance with GEM Listing Rules[82] - The audit committee has reviewed the consolidated financial statements for the fiscal year 2024, confirming they are prepared in accordance with applicable accounting standards and GEM Listing Rules[84] - The company's auditor, Crowe (HK) CPA Limited, has verified the financial figures in the announcement align with the audited financial statements for the fiscal year 2024[85] Future Outlook - The outlook for 2025 indicates challenges due to ongoing trade tensions between the US and China, which may impact global trade and the demand for goods transportation[76] - The company does not anticipate any significant investments or capital asset plans as of December 31, 2024[71] Meeting and Reporting - The company will hold its annual general meeting on May 29, 2025, with a suspension of share transfer registration from May 23 to May 29, 2025[86] - The annual report for the fiscal year 2024 will be published on the stock exchange and the company's website at an appropriate time[88] - The board confirms that the information in the announcement is accurate and complete, with no misleading or fraudulent elements[89]

Revenue and Growth - Revenue for the six months ended June 30, 2024, was approximately HK$426.6 million, a 32.3% increase compared to HK$322.5 million in the same period of 2023[6] - Total revenue for the six months ended June 30, 2024, was HK$426.6 million, compared to HK$322.5 million in the same period in 2023, representing a 32.3% increase[14] - Revenue for the six months ended June 30, 2024, increased by 32.3% to HK$426.6 million compared to HK$322.5 million in the same period in 2023, driven by new customer acquisition in both air and sea freight forwarding services[39] - Air freight forwarding services revenue increased to HK$417.95 million in 2024 from HK$317.52 million in 2023, a 31.6% growth[14] - Air cargo forwarding revenue increased to 417,952 thousand HKD in the first half of 2024, up from 317,518 thousand HKD in the same period of 2023, representing a 31.6% growth[15] - Air cargo forwarding revenue increased by 31.7% to approximately HKD 418,000,000 for the six months ended June 30, 2024, compared to HKD 317,500,000 in the same period last year[40] - Sea freight forwarding services revenue rose to HK$8.65 million in 2024 from HK$4.99 million in 2023, a 73.3% increase[14] - Sea cargo forwarding revenue rose to 8,652 thousand HKD in the first half of 2024, compared to 4,992 thousand HKD in the same period of 2023, marking a 73.3% increase[15] - Sea cargo forwarding revenue increased by 74.0% to approximately HKD 8,700,000 for the six months ended June 30, 2024, compared to HKD 5,000,000 in the same period last year[41] - Total revenue from external customers in Europe reached 160,861 thousand HKD in the first half of 2024, up from 95,368 thousand HKD in the same period of 2023, a 68.7% growth[19] - North America accounted for the largest share of export revenue at 234,936 thousand HKD in the first half of 2024, compared to 196,910 thousand HKD in the same period of 2023, a 19.3% increase[19] Financial Performance and Losses - The company recorded a loss attributable to owners of approximately HK$11.1 million for the six months ended June 30, 2024, compared to a loss of HK$6.1 million in the same period of 2023[6] - Basic and diluted loss per share for the six months ended June 30, 2024, was approximately HK$0.0368, compared to HK$0.0204 in the same period of 2023[6] - Loss before tax for the six months ended June 30, 2024, was HK$11.1 million, compared to HK$5.8 million in the same period of 2023[6] - Total comprehensive loss for the six months ended June 30, 2024, was HK$8.1 million, compared to HK$10.0 million in the same period of 2023[6] - Net loss for the period was HK$6.11 million, compared to a net loss of HK$11.05 million in the same period in 2023[8] - The company reported a net loss of 11,054 thousand HKD in the first half of 2024, compared to a net loss of 6,108 thousand HKD in the same period of 2023[17][18] - Net loss for the six months ended June 30, 2024, was approximately HKD 11,100,000, compared to a net loss of HKD 6,100,000 in the same period last year[45] Gross Profit and Costs - Gross profit for the six months ended June 30, 2024, was HK$10.5 million, a decrease from HK$17.8 million in the same period of 2023[6] - Gross profit decreased by 41.0% to approximately HKD 10,500,000 for the six months ended June 30, 2024, with gross margin dropping from 5.5% to 2.5%[43] - Service costs increased by 36.6% to approximately HKD 416,100,000 for the six months ended June 30, 2024, primarily due to higher air freight costs[42] - Administrative and other operating expenses for the six months ended June 30, 2024, were HK$20.0 million, a decrease from HK$23.7 million in the same period of 2023[6] - Administrative and other operating expenses decreased by 15.6% to approximately HKD 20,000,000 for the six months ended June 30, 2024[44] - Employee costs decreased to 7,858 thousand HKD in the first half of 2024, down from 10,194 thousand HKD in the same period of 2023, a 22.9% reduction[22] - Total employee costs for the six months ended June 30, 2024, were approximately HKD 7.9 million, down from HKD 10.2 million in the same period in 2023[53] Other Income and Expenses - Other income for the six months ended June 30, 2024, was HK$505,000, compared to HK$618,000 in the same period of 2023[6] - Interest income slightly increased to 138 thousand HKD in the first half of 2024, up from 130 thousand HKD in the same period of 2023[21] - The company's financing costs rose to 1,829 thousand HKD in the first half of 2024, compared to 858 thousand HKD in the same period of 2023, a 113.2% increase[21] - Finance costs for the six months ended June 30, 2024, were HK$1.8 million, compared to HK$858,000 in the same period of 2023[6] - The company's tax expense was 0 thousand HKD in the first half of 2024, compared to 344 thousand HKD in the same period of 2023[23] Cash Flow and Financial Position - Net cash generated from operating activities was HK$6.45 million in 2024, compared to HK$2.42 million in 2023, a 166.5% increase[10] - Cash and cash equivalents at the end of the period were HK$27.99 million, up from HK$25.91 million at the beginning of the period[10] - Net cash generated from operating activities for the six months ended June 30, 2024, was approximately HKD 6,500,000, compared to HKD 2,400,000 in the same period last year[47] - Cash and bank balances as of June 30, 2024, were approximately HKD 28,000,000, compared to HKD 25,900,000 as of December 31, 2023[46] - Total assets decreased to HK$289.74 million as of June 30, 2024, from HK$311.58 million as of December 31, 2023[7] - Total liabilities decreased to HK$163.46 million as of June 30, 2024, from HK$177.16 million as of December 31, 2023[7] - Interest-bearing borrowings decreased to HK$47.31 million as of June 30, 2024, from HK$53.48 million as of December 31, 2023[7] - The company repaid HK$6.17 million of interest-bearing borrowings during the period[10] - Interest-bearing loans decreased to HK$47.31 million as of June 30, 2024, from HK$53.48 million as of December 31, 2023, with a weighted average interest rate of 3.43%[34] - The company's debt-to-equity ratio improved to 38.5% as of June 30, 2024, from 41.7% as of December 31, 2023[46] Trade Receivables and Payables - Impairment loss on trade receivables for the six months ended June 30, 2024, was HK$211,000, compared to HK$379,000 in the same period of 2023[6] - Trade receivables (net of impairment) decreased to HK$185.94 million as of June 30, 2024, from HK$217.17 million as of December 31, 2023[29] - Trade payables decreased to HK$94.81 million as of June 30, 2024, from HK$114.73 million as of December 31, 2023[32] - The company's credit quality remained stable, with no significant impairment recognized for overdue trade receivables as of June 30, 2024[30] Investments and Dividends - The company did not acquire any property, plant, or equipment during the six months ended June 30, 2024, compared to HK$19,000 in the same period in 2023[28] - No dividends were declared or paid during the six months ended June 30, 2024, and 2023[27] - No dividends were recommended for the six months ended June 30, 2024, consistent with the same period in 2023[55] - The company did not purchase, sell, or redeem any shares during the six months ended June 30, 2024[54] - The company had no significant investments, acquisitions, or disposals of subsidiaries during the six months ended June 30, 2024[47] Corporate Governance and Ownership - The company's chairman, Mr. Zhao Tong, holds a 75% stake in the company through controlled entities, with his spouse also holding a 75% stake[56][57] - Profit Virtue and Peak Connect each hold 37.5% of the company's shares, with both entities controlled by Mr. Zhao Tong[59] - No stock options have been granted, exercised, canceled, or lapsed under the stock option plan as of June 30, 2024, with a maximum of 30,000,000 shares available for issuance, representing 10% of the total issued shares as of that date[60] - No directors, controlling shareholders, or their close associates have any competing interests or conflicts with the company's business as of June 30, 2024[61] - The company has complied with the Corporate Governance Code, except for the deviation where the Chairman and CEO roles are both held by Mr. Zhao, which the board believes benefits the company's leadership and strategic planning[63] - The Audit Committee has reviewed the unaudited condensed consolidated financial statements for the six months ended June 30, 2024, confirming compliance with applicable accounting standards and GEM Listing Rules[64] Employee and Operational Details - The company has 36 full-time employees as of June 30, 2024, compared to 43 employees as of December 31, 2023[53] - The company faces foreign exchange risks due to financial assets and liabilities denominated in currencies other than the functional currency of its entities, primarily involving HKD, USD, and CNY[52] - The company plans to strengthen its market position in Hong Kong and China by purchasing more freight space, targeting potential clients in China, and improving freight space acquisition through closer collaboration with airlines[53]

Financial Performance - For the fiscal year ending December 31, 2023, the total revenue of Grand Power Logistics Group Limited was approximately HKD 825.7 million, representing an increase of about 22.4% compared to HKD 674.4 million in the fiscal year 2022[16]. - The air freight forwarding services generated revenue of HKD 813.7 million, accounting for 98.5% of total revenue, while sea freight forwarding services contributed HKD 12.0 million, or 1.5%[17]. - The air cargo transshipment segment's revenue increased by approximately 35.8% to about HKD 813,700,000 in the fiscal year 2023, compared to approximately HKD 599,300,000 in fiscal year 2022[19]. - The sea cargo transshipment segment's revenue significantly decreased by approximately 84.0% to about HKD 12,000,000 in fiscal year 2023, down from approximately HKD 75,100,000 in fiscal year 2022[20]. - Service costs rose by approximately 19.5% to about HKD 773,600,000 in fiscal year 2023, compared to approximately HKD 647,100,000 in fiscal year 2022[21]. - Gross profit increased by approximately 91.5% to about HKD 52,100,000 in fiscal year 2023, with a gross margin of approximately 6.3%, up from 4.0% in fiscal year 2022[23]. - The net loss for the group decreased significantly from approximately HKD 27,600,000 in fiscal year 2022 to about HKD 1,500,000 in fiscal year 2023[30]. - Trade receivables increased by approximately 56.5% to about HKD 217,200,000 as of December 31, 2023, compared to approximately HKD 138,800,000 as of December 31, 2022[34]. - Interest-bearing borrowings increased to approximately HKD 53,500,000 as of December 31, 2023, up from approximately HKD 24,500,000 as of December 31, 2022[36]. - The total employee cost for the fiscal year 2023 is approximately HKD 21,100,000, compared to HKD 19,100,000 in fiscal year 2022, reflecting an increase of about 10.5%[49]. - The company reported a total revenue of approximately HKD 28,310,000 as of December 31, 2023, a decrease from HKD 30,438,000 in the previous year[82]. Governance and Compliance - The board of directors confirmed that the financial information presented is accurate and complete, with no misleading elements or omissions[4]. - The company is subject to the GEM listing rules, which cater to small and medium-sized enterprises with higher investment risks[6]. - The board of directors includes experienced professionals, ensuring effective governance and oversight of the company's operations[11]. - The company has adopted the corporate governance code as per GEM Listing Rules Appendix C1, ensuring compliance with all applicable code provisions for the fiscal year 2023, with some deviations noted[131]. - The board has established a governance framework to review and monitor compliance with legal and regulatory requirements[144]. - The company has implemented additional internal control measures to ensure compliance with applicable laws and regulations, including GEM listing rules[177]. - The company has engaged external legal advisors to provide guidance on compliance with GEM listing rules[183]. - The company has adopted a code of conduct for securities trading, ensuring compliance with the GEM listing rules, with all directors confirming adherence during the fiscal year 2023[157]. - The board has received annual confirmations of independence from all independent non-executive directors, ensuring compliance with GEM listing rules[145]. - The company has established procedures for shareholders to propose matters for discussion at general meetings[194]. - The company’s articles of association were revised and adopted on May 31, 2023, to comply with relevant GEM listing rules[195]. Strategic Initiatives and Market Expansion - Grand Power Logistics Group Limited is committed to expanding its market presence in the logistics sector, particularly in air and sea freight services[15]. - The company aims to enhance its logistics services, including cargo retrieval, port handling, and local transportation, to meet customer demands[15]. - The company aims to strengthen its market position in Hong Kong and China by purchasing more cargo space to meet customer demand[53]. - The group plans to expand its reach to potential Chinese customers and improve its cargo space acquisition capabilities through closer cooperation with airlines[53]. - The company is exploring market expansion opportunities in Southeast Asia, targeting a 10% market share within the next two years[56]. - A strategic acquisition of a regional logistics firm is in progress, which is expected to enhance service capabilities and increase market presence[56]. Risk Management and Internal Controls - The company has implemented risk management and internal control systems to identify and mitigate existing risks[110]. - The board is responsible for the effectiveness of the risk management and internal control systems, which are reviewed annually[177]. - The management will regularly assess customer credit ratings to minimize the risk of defaults and cash flow mismatches[183]. - The company has a robust anti-corruption policy to ensure compliance with relevant laws and regulations, including the Prevention of Bribery Ordinance[182]. - Risk management strategies have been enhanced, with a focus on compliance and financial controls to mitigate potential market fluctuations[56]. Employee and Board Diversity - The board consists of seven members, including two executive directors, two non-executive directors, and three independent non-executive directors, with a gender ratio of approximately 14% female representation[150][147]. - The company has 43 full-time employees, with a gender ratio of approximately 1 male to 1.05 females, indicating a balanced gender diversity[150]. - The board has adopted a diversity policy to ensure a balanced mix of skills, experience, and perspectives among its members, with measurable targets set for diversity[147]. - The company is committed to promoting gender diversity at all levels, including senior management, and will continue to invest resources in the career development of female employees[150]. - The board will continue to seek opportunities to increase the proportion of female board members as suitable candidates are identified[148]. Shareholder Communication and Dividends - The company has adopted a shareholder communication policy to ensure timely and transparent communication with shareholders[189]. - The company has complied with the principles and regulations of the shareholder communication policy during the fiscal year 2023[191]. - The board of directors did not recommend any final dividend for the fiscal year 2023, consistent with the previous fiscal year[76]. - The company maintains a dividend policy that ensures sufficient cash reserves to meet operational needs and future business growth[75]. - The company’s cash reserves are evaluated against financial performance, cash flow, and overall business conditions when considering dividend payments[75]. Operational Efficiency and Technology - The company reported a significant increase in operational efficiency, leading to a 15% reduction in operational costs year-over-year[56]. - The company has invested $5 million in research and development for new technologies aimed at improving delivery efficiency[56]. - New product launches are expected to contribute an additional $30 million in revenue, with a focus on expanding the logistics technology platform[56]. Board Committees and Meetings - The company has established four board committees: audit, remuneration, nomination, and financial reporting, to oversee specific aspects of the group's affairs[159]. - The audit committee conducted four meetings in fiscal year 2023, reviewing the audited consolidated financial statements and assessing the effectiveness of internal controls[162][164]. - The remuneration committee held one meeting during the fiscal year 2023, discussing director remuneration and the salary range for senior management[166]. - The nomination committee is responsible for evaluating the board's structure and composition, and it consists of three independent non-executive directors[167]. - The board held a total of four meetings in the fiscal year, with all members attending each meeting[153]. Auditor and Financial Reporting - The company appointed Tianzhi Hong Kong CPA Limited as its auditor starting November 16, 2023, following the resignation of Ernst & Young on the same date[119]. - The audit fees for the fiscal year 2023 amounted to HKD 750,000 for audit services and HKD 59,000 for non-audit services, totaling HKD 809,000[184]. - The company’s financial statements have been prepared in accordance with Hong Kong Financial Reporting Standards and reflect a true and fair view of the group's financial position as of December 31, 2023[200].