Financial Performance - Revenue for Q1 2023 was HKD 117,053,000, a decrease of 35.2% compared to HKD 180,643,000 in Q1 2022[9] - Gross profit for Q1 2023 was HKD 5,421,000, down 58.1% from HKD 12,913,000 in Q1 2022[9] - The company reported a net loss of HKD 7,113,000 for Q1 2023, compared to a profit of HKD 1,596,000 in Q1 2022[9] - Basic and diluted loss per share for Q1 2023 was HKD (2.37), compared to earnings per share of HKD 0.53 in Q1 2022[9] - Total comprehensive loss for Q1 2023 was HKD 7,571,000, compared to total comprehensive income of HKD 1,449,000 in Q1 2022[9] - The company reported a loss before tax of HKD 7,022,000 for the period, compared to a profit before tax of HKD 2,103,000 in the previous year[22] - The company recorded a net loss of approximately HKD 7,100,000 in Q1 2023, compared to a net profit of HKD 1,600,000 in Q1 2022[51] Revenue Breakdown - Air freight forwarding services generated revenue of HKD 114,494,000, down 25.3% from HKD 153,154,000 year-over-year[17] - Sea freight forwarding services revenue dropped significantly to HKD 2,559,000 from HKD 27,489,000, representing a decline of 90.7%[17] - Revenue from major customers accounted for over 10% of total revenue, with Customer A contributing HKD 38,315,000 and Customer B contributing HKD 15,364,000[29] - Revenue from Europe was HKD 38,918,000, down 27.3% from HKD 53,560,000 in the previous year, while North America revenue decreased by 33.5% to HKD 66,133,000[26] - Air freight forwarding revenue decreased by approximately 25.3% to about HKD 114,500,000 in Q1 2023 from HKD 153,200,000 in Q1 2022[44] - Sea freight forwarding revenue plummeted by approximately 90.5% to about HKD 2,600,000 in Q1 2023 from HKD 27,500,000 in Q1 2022[45] Expenses and Costs - Administrative and other operating expenses increased to HKD 12,454,000 in Q1 2023, up 18.0% from HKD 10,557,000 in Q1 2022[9] - Total other income decreased to HKD 46,000 from HKD 54,000, primarily due to a reduction in interest income[30] - The company's service costs decreased by approximately 33.5% to about HKD 111,600,000 in Q1 2023 from HKD 167,700,000 in Q1 2022[47] Strategic Outlook - The company aims to improve operational efficiency and explore new market opportunities in the upcoming quarters[9] - Future strategies may include potential market expansion and the development of new logistics technologies[9] - The logistics group aims to maintain flexibility and innovation to adapt to new trends and technologies in 2023 and beyond[55] - The group plans to strengthen its market position in Hong Kong and China by purchasing more cargo space to meet customer demand[57] - The group aims to reach more potential customers in China through closer collaboration with airlines to improve cargo space acquisition capabilities[57] Corporate Governance - The company has applied the principles of the GEM Listing Rules corporate governance code but has deviated from certain provisions[66] - The roles of Chairman and CEO are currently held by Mr. Zhao, which the board believes provides strong leadership and effective strategy planning[67] - The board will regularly review the need to appoint different individuals for the roles of Chairman and CEO to maintain good corporate governance[68] - The unaudited consolidated financial statements for the first quarter of 2023 have been reviewed by the audit committee, confirming compliance with applicable accounting standards and GEM listing rules[73] - The company has adopted a code of conduct for securities trading by directors, ensuring compliance with standard rules during the first quarter of 2023[70] - There were no reported violations of the trading standards by senior management during the first quarter of 2023[70] Shareholder Information - As of March 31, 2023, Mr. Zhao holds 225,000,000 shares, representing 75% ownership, while Ms. Wang also holds 225,000,000 shares through spousal rights[62] - Major shareholders include Profit Virtue and Peak Connect, each holding 112,500,000 shares, equating to 37.5% ownership[63] - The board is not aware of any business or interests that may compete with the group's operations as of Q1 2023[65] Dividends - The company did not declare or pay any dividends for the periods ending March 31, 2023, and March 31, 2022[37] - No dividends were recommended for Q1 2023, consistent with Q1 2022[56]

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） 截至二零二三年三月三十一日止三個月第一季度業績公告 裕程物流集團有限公司（「本公司」）董事（「董事」）會（「董事會」）欣然宣佈本公司及其附屬 公司截至二零二三年三月三十一日止三個月的未經審核簡明綜合業績。本公告列載本公 司截至二零二三年三月三十一日止三個月的第一季度報告（「二零二三年第一季度報告」） 全文，並符合香港聯合交易所有限公司（「聯交所」）GEM證券上市規則（「GEM上市規則」） 有關第一季度業績初步公告附載資料的相關規定。二零二三年第一季度報告的印刷版本 將於適當時候寄發予本公司的股東，並刊載於聯交所網站www.hkexnews.hk及本公司網站 www.grandpowerexpress.com供閱覽。 承董事會命 裕程物流 ...

Financial Performance - Total revenue for the fiscal year 2022 was approximately HKD 674.4 million, a decrease of about 24.5% compared to HKD 892.5 million in fiscal year 2021[13]. - Air freight forwarding revenue decreased by approximately 28.9% to about HKD 599.3 million in fiscal year 2022, down from HKD 843.3 million in fiscal year 2021[16]. - Sea freight forwarding revenue increased by approximately 52.6% to about HKD 75.1 million in fiscal year 2022, up from HKD 49.2 million in fiscal year 2021[17]. - Gross profit decreased by approximately 67.2% to about HKD 27.2 million in fiscal year 2022, down from HKD 82.9 million in fiscal year 2021[20]. - Gross margin decreased to approximately 4.0% in fiscal year 2022, compared to 9.3% in fiscal year 2021[20]. - The company recorded a net loss of approximately HKD 27,600,000 in fiscal year 2022, compared to a net profit of approximately HKD 23,000,000 in fiscal year 2021[27]. - Other income for fiscal year 2022 was approximately HKD 700,000, an increase from HKD 300,000 in fiscal year 2021[22]. - Financing costs increased by approximately 70.0% to about HKD 1,700,000 in fiscal year 2022, compared to HKD 1,000,000 in fiscal year 2021, primarily due to increased short-term bank borrowings and higher interest rates[25]. - Income tax expenses decreased by approximately 99.4% to about HKD 30,000 in fiscal year 2022, down from HKD 5,100,000 in fiscal year 2021, reflecting a loss recorded in fiscal year 2022[26]. Costs and Expenses - Service costs decreased by approximately 20.1% to about HKD 647.1 million in fiscal year 2022, compared to HKD 809.6 million in fiscal year 2021[18]. - Administrative and other operating expenses for the fiscal year 2022 were approximately HKD 54,000,000, a slight decrease from HKD 54,500,000 in the fiscal year 2021[23]. - Cash and bank balances as of December 31, 2022, were approximately HKD 29,600,000, a decrease from HKD 64,900,000 on December 31, 2021[30]. - Trade receivables decreased by approximately 40.4% to about HKD 138,800,000 as of December 31, 2022, from HKD 232,700,000 as of December 31, 2021, consistent with the decrease in revenue[31]. - Trade payables decreased by approximately 56.1% to about HKD 67,900,000 as of December 31, 2022, down from HKD 154,500,000 as of December 31, 2021[31]. - As of December 31, 2022, interest-bearing borrowings amounted to approximately HKD 24,500,000, a decrease from HKD 40,300,000 on December 31, 2021[33]. Shareholder Information - The company does not recommend paying any final dividend for the fiscal year 2022, compared to no dividend in the fiscal year 2021[73]. - As of December 31, 2022, the distributable reserves available for shareholders amount to approximately HKD 30,438,000, a decrease from HKD 32,082,000 as of December 31, 2021[79]. - Major shareholders Zhao Tong and Wang Xuanlu each hold 225,000,000 shares, representing 75% ownership[90]. - Profit Virtue and Peak Connect each hold 112,500,000 shares, accounting for 37.5% of the total shares[93]. Employee and Workforce - As of December 31, 2022, the group had 41 full-time employees, with total employee costs of approximately HKD 19.1 million for the fiscal year 2022, down from HKD 28.6 million in 2021[46]. - The total employee count decreased from 42 in 2021 to 41 in 2022, indicating a slight reduction in workforce[46]. - The group has implemented a stock option plan to incentivize and reward employees for their contributions[46]. - The management emphasizes the importance of employee training and development to maximize their potential, which is crucial for the group's continuous growth[46]. Market Position and Strategy - The group aims to become a leading cargo transshipment operator in Hong Kong and a major market player in the global logistics industry, with satisfactory progress reported in achieving these long-term business goals[47]. - The group plans to strengthen its market position in Hong Kong and China by purchasing more cargo space to meet customer demand[50]. - The group continues to improve its ability to secure cargo space through closer collaboration with airlines[50]. Risk Management and Compliance - The company has identified major risks including economic, social-political, sales and pricing, and credit risks that could significantly impact its financial performance and growth prospects[111]. - The company has established risk management and internal control systems to identify and mitigate existing risks[110]. - The company has maintained compliance with the GEM Listing Rules and has adopted the corporate governance code as its own[133]. - The company has established and adopted internal control measures to ensure compliance with applicable laws and regulations, including GEM listing rules[172]. Corporate Governance - The board of directors consists of six experienced members, ensuring a balanced power structure despite the chairman also serving as the CEO[139]. - The company has committed to regular reviews of the necessity to separate the roles of chairman and CEO to maintain good corporate governance[135]. - The audit committee has reviewed the consolidated financial statements for the fiscal year 2022, ensuring compliance with applicable accounting standards[130]. - The company emphasizes the importance of effective accountability through good corporate governance practices[132]. - The company has established four board committees: Audit Committee, Remuneration Committee, Nomination Committee, and Financial Reporting Committee to oversee specific aspects of the group's affairs[153]. Shareholder Communication - The company has adopted a shareholder communication policy to ensure timely, transparent, and accurate communication with shareholders, reflecting regular communication practices[187]. - The board is satisfied with the implementation and effectiveness of the shareholder communication policy during the fiscal year 2022[189]. - The company provides various communication channels for shareholders, including financial reports and announcements published on the stock exchange website[188]. - The company emphasizes the importance of shareholder feedback through designated contacts and inquiry hotlines[188]. Environmental and Social Responsibility - The company has implemented environmental policies to minimize operational impacts on the environment and promote sustainability[121]. - The company made charitable donations totaling HKD 30,000 in the fiscal year 2022, compared to none in the fiscal year 2021[80].

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） 截至二零二二年十二月三十一日止年度全年業績公告 裕程物流集團有限公司（「本公司」）董事（「董事」）會（「董事會」）欣然宣佈本公司及其附屬 公司截至二零二二年十二月三十一日止年度的經審核綜合財務業績。本公告列載本公司 年度報告（「年報」）全文，並符合香港聯合交易所有限公司（「聯交所」）GEM證券上市規則 （「GEM上市規則」）有關年度業績初步公告附載資料的相關規定。年報的印刷版本將於適 當時候寄發予本公司的股東，並刊載於聯交所網站www.hkexnews.hk及本公司網站 www.grandpowerexpress.com供閱覽。 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 ...

Financial Performance - The group's revenue for the nine months ended September 30, 2022, was approximately HKD 517.8 million, a decrease of about 3.8% compared to HKD 538.1 million for the same period in 2021[11]. - The group recorded a net loss of approximately HKD 8.8 million in the third quarter of 2022, compared to a net profit of approximately HKD 14.9 million in the third quarter of 2021[11]. - Basic and diluted loss per share for the third quarter of 2022 was approximately HKD 0.0294, compared to earnings of approximately HKD 0.0503 per share in the third quarter of 2021[11]. - Gross profit for the nine months ended September 30, 2022, was HKD 22.2 million, down from HKD 48.1 million in the same period of 2021[12]. - The group reported a loss before tax of approximately HKD 8.8 million for the nine months ended September 30, 2022, compared to a profit before tax of HKD 18.4 million in the same period of 2021[12]. - The company reported a net loss of HKD 8,834,000 for the period, compared to a profit of HKD 14,931,000 in the previous period[13]. - The group reported a net loss attributable to shareholders of HKD 8,834 million for the nine months ended September 30, 2022, compared to a profit of HKD 14,931 million in 2021[45]. - The company recorded a net loss of approximately HKD 8.8 million in Q3 2022, compared to a net profit of approximately HKD 14.9 million in Q3 2021[59]. Revenue Breakdown - For the three months ended September 30, 2022, the air freight forwarding service revenue was HKD 132,211, a decrease of 38.2% from HKD 214,120 in the same period of 2021[24]. - The sea freight forwarding service revenue for the same period was HKD 18,973, a slight decrease of 1.3% from HKD 19,220 in 2021[24]. - Revenue from Europe for the nine months ended September 30, 2022, was HKD 189,304, a decrease of 12.9% from HKD 217,451 in 2021[35]. - Revenue from Asia decreased to HKD 43,582, down 23.8% from HKD 57,219 in the previous year[35]. - North America revenue remained relatively stable at HKD 246,269, a slight decrease of 0.2% from HKD 246,641 in 2021[35]. - Revenue from air freight forwarding for the nine months ended September 30, 2022, was HKD 248 million, a decrease of 1.3% from HKD 235 million in 2021[37]. - Revenue from air freight forwarding decreased by approximately 11.8% to HKD 444 million in Q3 2022, down from HKD 504 million in Q3 2021[51]. - Revenue from sea freight forwarding increased by approximately 113.3% to HKD 73 million in Q3 2022, up from HKD 34 million in Q3 2021[52]. Expenses and Losses - Administrative and other operating expenses for the nine months ended September 30, 2022, were HKD 31.0 million, compared to HKD 29.8 million in the same period of 2021[12]. - Other comprehensive loss for the nine months ended September 30, 2022, included a foreign exchange loss of HKD 3.98 million[12]. - The company’s accumulated losses increased to HKD 20,322,000 as of September 30, 2022, from HKD 29,156,000 at the beginning of the year[13]. - The company’s share premium account decreased by HKD 16,514,000 due to the costs associated with the issuance of new shares[13]. - Service costs increased by approximately 1.1% to about HKD 495.6 million in Q3 2022, compared to HKD 490 million in Q3 2021, due to ongoing COVID-19 disruptions and increased logistics costs[54]. - Gross profit decreased by approximately 53.8% to about HKD 22.2 million in Q3 2022, down from HKD 48.1 million in Q3 2021, resulting in a gross margin decline from approximately 8.9% to about 4.3%[55]. - Administrative and other operating expenses rose by approximately 4.0% to about HKD 31 million in Q3 2022, compared to HKD 29.8 million in Q3 2021, primarily due to increased employee costs[58]. Strategic Initiatives - The board is focused on strategic initiatives to improve financial performance and explore market expansion opportunities[12]. - The company plans to enhance its service offerings and invest in technology to drive future growth[12]. - The company plans to continue monitoring economic conditions and their impact on future financial performance, with a focus on business development strategies[63]. - The company aims to strengthen its market position in Hong Kong and China by purchasing more cargo space and establishing new offices in China[66]. Corporate Governance - The company has complied with all applicable corporate governance codes, with the exception of the separation of roles between the Chairman and CEO, which are currently held by Zhao[81]. - The audit committee has reviewed the unaudited consolidated financial statements for Q3 2022, confirming compliance with applicable accounting standards and GEM listing rules[87]. - The company has adopted a securities trading code for directors, ensuring compliance with GEM listing rules[84]. - The board will regularly review the necessity of appointing different individuals for the roles of Chairman and CEO to maintain good corporate governance[82]. - The company believes that the current arrangement of having the same individual serve as both Chairman and CEO is beneficial for overall decision-making efficiency[81]. Share Issuance and Capital Structure - The company issued 75,000,000 new ordinary shares at HKD 0.74 per share, raising a total of HKD 55,500,000[16]. - The capital structure as of September 30, 2022, consisted of 300 million issued ordinary shares, unchanged from the previous year[60]. - As of September 30, 2022, Profit Virtue and Peak Connect each hold 112,500,000 shares, representing 37.5% ownership in the company[76]. - Zhao and Wang hold 50% equity in Peak Connect, with Zhao owning 92.32% and Wang 7.68%[75]. - The company has a total of 225,000,000 shares held by major shareholders, with no additional disclosures required from other individuals[76]. Tax and Compliance - The effective tax rate for Hong Kong profits tax was estimated at 16.5% for the nine months ended September 30, 2022[42]. - The company has not identified any significant impact on its financial position or performance due to the recent accounting standard amendments[23]. - The company’s financial statements have not been audited but have been reviewed by the audit committee[23]. - No known conflicts of interest or competitive businesses were reported by directors or major shareholders as of Q3 2022[79].

Financial Performance - The group's revenue for the six months ended June 30, 2022, was approximately HKD 366.6 million, an increase of about 20.3% compared to HKD 304.7 million for the same period in 2021[11]. - The company recorded a loss attributable to ordinary equity holders of approximately HKD 1.4 million for the six months ended June 30, 2022, compared to a profit of HKD 13.8 million for the same period in 2021[11]. - Basic and diluted loss per share for the six months ended June 30, 2022, was approximately HKD 0.46, compared to earnings of HKD 4.68 per share for the same period in 2021[11]. - Gross profit for the six months ended June 30, 2022, was approximately HKD 19.3 million, down from HKD 33.4 million in the same period of 2021, reflecting a decrease of about 42.3%[12]. - The company reported a total comprehensive income of HKD 14,073,000 for the six months ended June 30, 2022, compared to HKD 102,496,000 for the same period in 2021, indicating a significant decline[16]. - The company incurred a loss of HKD 1,386,000 during the six months ended June 30, 2022, compared to a profit of HKD 13,801,000 in the same period of 2021[16]. - The company’s total comprehensive loss for the six months ended June 30, 2022, was HKD 3,725,000, compared to a total comprehensive income of HKD 14,073,000 in the same period of 2021[16]. - The company reported a loss before tax of HKD 1,067,000 for the six months ended June 30, 2022, compared to a profit before tax of HKD 16,906,000 in the same period of 2021[36]. - The net loss for the six months ended June 30, 2022, was approximately HKD 1,400,000, a decrease of about 110.1% compared to a net profit of approximately HKD 13,800,000 in the same period of 2021[76]. Revenue Breakdown - Air freight forwarding services generated revenue of HKD 312,088,000 for the six months ended June 30, 2022, up from HKD 289,496,000 in the previous year, reflecting an increase of 7.8%[29]. - Sea freight forwarding services saw a significant increase in revenue, reaching HKD 54,502,000 for the six months ended June 30, 2022, compared to HKD 15,229,000 in the same period of 2021, marking a growth of 258.5%[29]. - Revenue from North America increased significantly to HKD 187,578,000 for the six months ended June 30, 2022, compared to HKD 130,044,000 in the same period of 2021, reflecting a growth of 44.1%[39]. - The revenue from air freight forwarding increased by approximately 7.8% to about HKD 312,100,000 for the six months ended June 30, 2022, compared to HKD 289,500,000 in the same period of 2021[67]. - The revenue from sea freight forwarding surged by approximately 258.6% to about HKD 54,500,000 for the six months ended June 30, 2022, compared to HKD 15,200,000 in the same period of 2021[69]. Costs and Expenses - The company experienced a significant increase in service costs, which rose to approximately HKD 347.3 million for the six months ended June 30, 2022, compared to HKD 271.4 million in the same period of 2021[12]. - The gross profit decreased by approximately 42.2% to about HKD 19,300,000 for the six months ended June 30, 2022, compared to HKD 33,400,000 in the same period of 2021, resulting in a gross margin decline from about 10.9% to approximately 5.3%[72]. - Total administrative and other operating expenses were HKD 19,875,000 for the six months ended June 30, 2022, compared to HKD 16,673,000 in the same period of 2021[36]. - Administrative and other operating expenses increased by approximately 19.2% to about HKD 19,900,000 for the six months ended June 30, 2022, compared to HKD 16,700,000 in the same period of 2021[73]. Assets and Liabilities - Total assets as of June 30, 2022, were approximately HKD 242.7 million, a decrease from HKD 330.8 million as of December 31, 2021[13]. - Current liabilities decreased to approximately HKD 114.2 million as of June 30, 2022, from HKD 199.4 million as of December 31, 2021[13]. - The net asset value of the company as of June 30, 2022, was approximately HKD 162.2 million, down from HKD 165.9 million as of December 31, 2021[13]. - Total equity as of June 30, 2022, is HKD 162,211,000, a decrease of 2.1% from HKD 165,936,000 as of December 31, 2021[14]. - Trade receivables (net of loss provisions) decreased to HKD 132.5 million as of June 30, 2022, from HKD 232.7 million as of December 31, 2021, a decline of approximately 43%[54]. - Trade payables decreased to HKD 77.6 million as of June 30, 2022, from HKD 154.5 million as of December 31, 2021, a reduction of about 50%[55]. - The company had interest-bearing loans of HKD 33.2 million as of June 30, 2022, down from HKD 40.3 million as of December 31, 2021, reflecting a decrease of approximately 17%[57]. - The debt-to-equity ratio as of June 30, 2022, was approximately 21.7%, down from 25.5% as of December 31, 2021[77]. Cash Flow - Net cash generated from operating activities for the six months ended June 30, 2022, is HKD 15,145,000, down 41% from HKD 25,769,000 in the same period of 2021[20]. - The net cash used in financing activities for the six months ended June 30, 2022, was HKD 7,423,000, compared to a net cash inflow of HKD 17,969,000 in the same period of 2021[20]. - The company’s operating cash flow decreased by 41% year-over-year, indicating potential challenges in operational efficiency[20]. - Cash and cash equivalents at the end of June 30, 2022, amounted to HKD 72,278,000, slightly down from HKD 72,973,000 at the end of June 30, 2021[20]. - The cash and cash equivalents amounted to approximately HKD 71,400,000 as of June 30, 2022, compared to HKD 64,300,000 as of December 31, 2021[79]. Corporate Governance - The board believes that having Zhao as both Chairman and CEO provides strong leadership and effective strategy planning for the company[111]. - The company has complied with the corporate governance code, with the exception of the separation of the roles of Chairman and CEO[110]. - The audit committee has reviewed the unaudited condensed consolidated financial statements for the six months ended June 30, 2022, ensuring compliance with applicable accounting standards[117]. - There were no known interests or conflicts of interest among directors or major shareholders that could compete with the company's business as of June 30, 2022[109]. - The company has confirmed that all directors complied with the trading code during the six months ended June 30, 2022[114]. Strategic Initiatives - The board is committed to exploring new strategies for market expansion and product development to improve future performance[11]. - The company plans to establish a new office in China to reach more potential customers[97]. - The company aims to strengthen its market position in Hong Kong and China by purchasing more cargo space to meet customer demand[97]. - The company has implemented a stock option plan to incentivize employees and recognize their contributions[93]. Employee Information - As of June 30, 2022, the total employee cost for the six months was approximately HKD 8.6 million, compared to HKD 6.5 million for the same period in 2021[93]. - The company has 41 full-time employees as of June 30, 2022, down from 42 as of December 31, 2021[93].

Financial Performance - The group's revenue for the first quarter of 2022 was approximately HKD 180.6 million, an increase of about 31.7% compared to HKD 137.1 million in the first quarter of 2021[9] - The profit attributable to ordinary equity holders for the first quarter of 2022 was approximately HKD 1.6 million, a decrease of about 80.7% from HKD 8.3 million in the first quarter of 2021[9] - Basic and diluted earnings per share for the first quarter of 2022 were approximately HKD 0.53, down about 81.4% from HKD 2.85 in the first quarter of 2021[9] - The gross profit for the first quarter of 2022 was HKD 12.9 million, compared to HKD 16.9 million in the first quarter of 2021[10] - The total comprehensive income for the first quarter of 2022 was HKD 1.4 million, compared to HKD 8.2 million in the first quarter of 2021[10] - The company reported a net profit of HKD 1,596,000 for the first quarter of 2022, a decrease from HKD 8,253,000 in the same quarter of 2021[24] - The pre-tax profit for Q1 2022 was approximately HKD 2.1 million, a decrease of about 79.0% compared to HKD 10.0 million in Q1 2021, while the post-tax profit fell by approximately 80.7% to HKD 1.6 million[53] Revenue Breakdown - Air freight forwarding services generated revenue of HKD 153,154,000, up 16.3% from HKD 131,703,000 year-on-year[19] - Sea freight forwarding services saw a significant increase in revenue to HKD 27,489,000, compared to HKD 5,377,000 in the previous year, marking a 411.5% growth[19] - Revenue from air freight forwarding services increased by approximately 16.3% to about HKD 153,200,000 in Q1 2022 from approximately HKD 131,700,000 in Q1 2021[46] - Revenue from sea freight forwarding services surged by approximately 409.3% to about HKD 27,500,000 in Q1 2022 from approximately HKD 5,400,000 in Q1 2021[47] Expenses and Costs - Administrative and other operating expenses for the first quarter of 2022 were HKD 10.6 million, an increase from HKD 7.3 million in the first quarter of 2021[10] - Administrative and other operating expenses increased to HKD 10,557,000 from HKD 7,290,000 year-on-year[24] - Employee costs totaled HKD 5,193,000 in Q1 2022, up from HKD 2,719,000 in Q1 2021[33] - Service costs increased by approximately 39.6% from HKD 120.1 million in Q1 2021 to HKD 167.7 million in Q1 2022, primarily due to the Omicron variant outbreak and rising logistics costs[49] - Gross profit decreased by approximately 23.7% from HKD 16.9 million in Q1 2021 to HKD 12.9 million in Q1 2022, resulting in a gross margin drop from 12.4% to 7.1%[50] - Administrative and other operating expenses rose by approximately 45.2% from HKD 7.3 million in Q1 2021 to HKD 10.6 million in Q1 2022, mainly due to increased employee costs[51] Corporate Governance and Compliance - The financial statements were prepared in accordance with the Hong Kong Financial Reporting Standards and have not been audited[16] - The company has adopted a securities trading code for directors, ensuring compliance with GEM listing rules, with no reported violations in Q1 2022[77] - The audit committee reviewed the unaudited consolidated financial statements for Q1 2022, confirming adherence to applicable accounting standards and GEM listing rules[80] - The company has complied with all applicable corporate governance codes, with noted deviations being justified by the board[73] - There are no known interests held by the compliance advisor in the company's equity as of Q1 2022[78] Future Plans and Strategies - The group plans to continue exploring market expansion opportunities and enhancing operational efficiency in the upcoming quarters[9] - The company plans to purchase more cargo space to meet customer demand and strengthen its market position in Hong Kong and China[57] - The establishment of new offices in China is aimed at reaching more potential customers[57] - The company will continue to improve its cargo space acquisition capabilities through closer cooperation with airlines[57] - The company has not disclosed any new product developments or technological advancements during this reporting period[19] - There are no indications of market expansion or acquisitions mentioned in the report[19] Shareholder Information - As of March 31, 2022, the total number of issued ordinary shares was 300 million, with a par value of HKD 0.01 per share[54] - The company had a total of 300,000 shares outstanding for the calculation of basic and diluted earnings per share[37] - As of March 31, 2022, Profit Virtue and Peak Connect each hold 112,500,000 shares, representing 37.5% ownership in the company[70] - Zhao and Wang hold 50% equity each in Peak Connect and Profit Virtue, with Zhao being the sole owner of Profit Virtue[69] - The company did not declare or pay any dividends for the periods ending March 31, 2022, and March 31, 2021[39] - No dividends were recommended for Q1 2022, consistent with Q1 2021[59] Leadership and Management - The board believes that having Zhao serve as both Chairman and CEO provides strong leadership and effective strategic planning[74] - The company will regularly review the necessity of separating the roles of Chairman and CEO to maintain good corporate governance[75] - The company has not disclosed any competitive interests or conflicts of interest among directors or major shareholders in Q1 2022[72] - No new significant strategies, products, or technologies were mentioned in the provided documents for Q1 2022[71]

Financial Performance - Total revenue for the fiscal year 2021 was approximately HKD 892.5 million, an increase from HKD 871.9 million in fiscal year 2020, representing a growth of about 2.3%[13] - Air freight forwarding services generated revenue of HKD 843.3 million, accounting for 94.5% of total revenue, slightly down from HKD 843.9 million in the previous year, a decrease of approximately 0.1%[14] - Sea freight forwarding services saw revenue increase to HKD 49.2 million, up from HKD 28.0 million in the previous year, representing a growth of approximately 75.5%[14] - Revenue from the maritime cargo transshipment segment increased by approximately HKD 21,200,000 or about 75.7% to approximately HKD 49,200,000 in the fiscal year 2021[17] - Gross profit decreased by approximately HKD 11,500,000 or about 12.2% to approximately HKD 82,900,000, with the gross margin slightly declining from about 10.8% to about 9.3%[20] - Profit before tax decreased by approximately HKD 3,000,000 or about 9.6% to approximately HKD 28,100,000, while profit after tax decreased by approximately HKD 200,000 or about 0.9% to approximately HKD 23,000,000[26] - Other income fell by approximately HKD 2,400,000 or about 88.9% to approximately HKD 300,000, primarily due to the absence of government subsidies in the fiscal year 2021[21] Operational Strategy - The company has established a competitive edge by securing charter agreements with airlines for direct flights to the US and Europe, enhancing its service offerings[9] - The company plans to continue leveraging the growing trend of cross-border e-commerce to drive future growth in the air freight market[9] - The company has six regional offices in mainland China, enhancing its operational capabilities in the region[12] - The company plans to strengthen its market position in Hong Kong and China by purchasing more cargo space to meet customer demand[51] - The company will establish new offices in China to reach more potential customers[51] - The company has been expanding its operations in Southern China, opening new branches to explore new business opportunities and markets[53] Financial Management - The listing on GEM has provided the company with necessary financial resources to manage cash flow more flexibly and support its expansion plans[9] - Service costs rose by approximately HKD 32,100,000 or about 4.1% to approximately HKD 809,600,000 in the fiscal year 2021, consistent with the increase in revenue[18] - Trade receivables increased by approximately HKD 47,500,000 or about 25.6% to approximately HKD 232,700,000, with the average turnover days rising from about 57.5 days to about 85.5 days[30] - As of December 31, 2021, the debt-to-equity ratio was approximately 25.5%, down from about 47.4% a year earlier, with total debt around HKD 42,300,000[27] - The weighted average effective interest rate for interest-bearing borrowings was approximately 3.43%, down from about 4.22% the previous year[32] - The total employee cost for the fiscal year 2021 was approximately HKD 28,600,000, compared to HKD 24,600,000 in fiscal year 2020, reflecting an increase of about 16.3%[45] Governance and Compliance - The board of directors did not recommend any final dividend for the fiscal year 2021, similar to the previous fiscal year[50] - The company has established a risk management and internal control system to identify existing risks and has taken necessary measures to mitigate identified risks[109] - The company has adopted a share option scheme to incentivize employees and directors for their contributions[45] - The company has established a remuneration committee to review its compensation policies and structures for all directors and senior management[104] - The board consists of eight members, including two executive directors, two non-executive directors, and four independent non-executive directors[135] - The company has established a compliance manual for employees and directors to ensure adherence to governance codes[134] Risk Management - The company faces financial risks, including price risk, interest rate risk, foreign exchange risk, credit risk, and liquidity risk[110] - The company is committed to risk management and control functions, which are essential for maintaining operational integrity[55] - The management assessed the expected credit losses based on historical loss experience and specific factors related to debtors, indicating a proactive approach to credit risk management[188] - The company has implemented a robust internal control system to ensure the accuracy of financial reporting and compliance with the Hong Kong Financial Reporting Standards[192] Shareholder Relations - The company has maintained transparency in communication with shareholders through various reports and announcements, ensuring timely updates on financial performance[182] - The company has adopted a dividend policy to maintain sufficient cash reserves for operational needs and future growth, with no final dividend recommended for the fiscal year 2021[75] - The board will consider various factors, including financial performance and cash flow, when deciding on dividend payments[74] Audit and Financial Reporting - The independent auditor's report confirmed that the consolidated financial statements present a true and fair view of the group's financial position as of December 31, 2021[183] - The audit committee assists the board in overseeing the financial reporting process, enhancing governance and accountability within the group[193] - The financial statements have been prepared in accordance with the disclosure requirements of the Hong Kong Companies Ordinance, ensuring compliance with legal standards[192] - The overall presentation, structure, and content of the consolidated financial statements were evaluated to ensure they fairly reflect the relevant transactions and matters[200]

Financial Performance - For the nine months ended September 30, 2021, the group's revenue was approximately HKD 538.1 million, a decrease of about 9.8% compared to HKD 596.4 million for the same period in 2020[10]. - The profit attributable to the owners of the company for the third quarter of 2021 was approximately HKD 14.9 million, down from HKD 26.6 million in the third quarter of 2020[10]. - Basic and diluted earnings per share for the third quarter of 2021 were approximately HKD 0.0503, compared to HKD 0.1182 for the same quarter in 2020[10]. - Gross profit for the nine months ended September 30, 2021, was HKD 48.1 million, down from HKD 62.1 million in the same period of 2020[13]. - The total comprehensive income for the nine months ended September 30, 2021, was HKD 15.7 million, down from HKD 26.5 million in the same period of 2020[13]. - The total profit before tax for the period was HKD 18,386,000, down from HKD 33,215,000 in the same period of 2020[27]. - The company reported a net profit of HKD 14,931,000 for the nine months ended September 30, 2021, compared to HKD 26,606,000 in the same period of 2020[27]. - Profit before tax decreased by approximately HKD 14,800,000 or 44.6% to about HKD 18,400,000 in Q3 2021, with profit after tax decreasing by approximately HKD 11,700,000 or 44.0% to about HKD 14,900,000[60]. Revenue Breakdown - For the three months ended September 30, 2021, air freight forwarding service revenue was HKD 214,120,000, an increase of 60.8% compared to HKD 133,081,000 in the same period of 2020[23]. - Sea freight forwarding service revenue for the same period was HKD 19,220,000, representing a 152.5% increase from HKD 7,622,000 in 2020[23]. - Revenue from Europe for exports decreased to HKD 217,451,000 in 2021 from HKD 328,649,000 in 2020, a decline of 33.9%[32]. - North America export revenue increased to HKD 246,641,000 in 2021, up 25.5% from HKD 196,632,000 in 2020[32]. - Revenue from the air freight forwarding segment decreased by approximately HKD 69.8 million or 12.2% to about HKD 503.6 million in the third quarter of 2021, primarily due to a reduction in export freight rates[49]. - Revenue from the sea freight forwarding segment increased by approximately HKD 11.4 million or 49.6% to about HKD 34.4 million in the third quarter of 2021, driven by increased customer demand[51]. Expenses and Costs - Administrative and other operating expenses increased to HKD 29.8 million for the nine months ended September 30, 2021, compared to HKD 24.6 million for the same period in 2020[13]. - Total employee costs for the nine months ended September 30, 2021, amounted to HKD 10.3 million, an increase from HKD 7.9 million in the same period of 2020[37]. - The income tax expense for the nine months ended September 30, 2021, was HKD 3.5 million, a decrease from HKD 6.6 million in the same period of 2020[39]. - The service costs decreased from approximately HKD 534.3 million in the third quarter of 2020 to about HKD 490 million in the third quarter of 2021, aligning with the revenue decrease[52]. - Administrative and other operating expenses rose by approximately HKD 5,200,000 or 21.1% to about HKD 29,800,000 in Q3 2021, mainly due to increases in legal and professional fees and employee costs[56]. Financial Position - As of September 30, 2021, the total equity stood at HKD 157,213,000, reflecting an increase from HKD 102,496,000 at the beginning of the year[14]. - The company’s accumulated losses decreased to HKD 21,107,000 as of September 30, 2021, from HKD 26,998,000 at the beginning of the year[14]. - The company’s share premium account recorded a balance of HKD 35,986,000 as of September 30, 2021[14]. - The company raised a total of HKD 55,500,000 through the issuance of 75,000,000 new ordinary shares at HKD 0.74 per share[15]. Corporate Governance and Management - The company has adopted and complied with the corporate governance code as per GEM Listing Rules Appendix 15, ensuring proper regulation of business activities and decision-making processes[91]. - The roles of Chairman and CEO are currently held by Mr. Zhao, which the board believes provides strong and consistent leadership for effective strategic planning and management[93]. - The board will regularly review the need to appoint different individuals for the roles of Chairman and CEO to maintain good corporate governance[94]. - The company has adopted a code of conduct for securities transactions, ensuring compliance with the standards set forth in GEM Listing Rules[96]. Future Strategies - The group aims to enhance its market presence and explore new strategies for growth in the upcoming quarters[10]. - Future strategies include purchasing more cargo space to meet customer demand, establishing new offices in China, and improving cargo space acquisition capabilities through closer cooperation with airlines[74]. - The company plans to establish new regional offices in China, with an initial setup cost of HKD 0.4 million (7.7%) expected to be utilized by December 2021[80]. COVID-19 Impact - In Q3 2021, the company reported no significant disruptions to its operations due to COVID-19, as all employees were able to connect remotely to the IT systems[75]. - The company will continue to monitor the impact of COVID-19 on its financial performance and operations[75].

Financial Performance - The group's revenue for the six months ended June 30, 2021, was approximately HKD 304.7 million, a decrease of about 33.1% compared to HKD 455.7 million for the same period in 2020[10]. - The profit attributable to the company's owners for the six months ended June 30, 2021, was approximately HKD 13.8 million, down from HKD 24.2 million in 2020[10]. - Basic and diluted earnings per share for the six months ended June 30, 2021, were approximately HKD 0.0468, compared to HKD 0.1075 for the same period in 2020[10]. - The group's gross profit for the six months ended June 30, 2021, was HKD 33.4 million, a decline from HKD 48.7 million in 2020[12]. - Total comprehensive income for the period was HKD 14.1 million, down from HKD 23.7 million in the previous year[12]. - The net profit for the six months ended June 30, 2021, was HKD 13,801,000, a decline of 42.9% from HKD 24,178,000 in the same period of 2020[34]. - The company reported a loss of HKD 24,178,000 for the period, a decrease from the previous year's loss of HKD 16,998,000, indicating a worsening performance in terms of profitability[17]. - Profit before tax for the six months ended June 30, 2021, was approximately HKD 16,900,000, an increase of approximately HKD 13,000,000 or 43.5% compared to approximately HKD 29,900,000 for the same period in 2020[100]. Revenue Breakdown - For the three months ended June 30, 2021, air freight forwarding services generated revenue of HKD 157,793,000, a decrease of 53.7% compared to HKD 340,480,000 in the same period of 2020[29]. - Sea freight forwarding services reported revenue of HKD 9,852,000 for the three months ended June 30, 2021, an increase of 226.5% from HKD 3,024,000 in the same period of 2020[29]. - The air freight forwarding segment generated revenue of approximately HKD 289.5 million, down about 34.6% from HKD 442.7 million in the prior year, primarily due to a decrease in export prices[87]. - The sea freight forwarding segment saw an increase in revenue of approximately HKD 2.2 million or 16.9%, reaching about HKD 15.2 million for the six months ended June 30, 2021, driven by increased customer demand[89]. - The air freight segment accounted for approximately 95.0% of total revenue, while the sea freight segment contributed about 5.0%[86]. Cash Flow and Liquidity - The group's cash and cash equivalents increased to HKD 73.0 million as of June 30, 2021, compared to HKD 27.6 million at the end of 2020[14]. - The net cash generated from operating activities for the six months ended June 30, 2021, was HKD 25,769,000, up from HKD 24,326,000 in the same period of 2020, reflecting a growth of 6.0%[20]. - The company's financing activities generated a net cash inflow of HKD 17,969,000 for the six months ended June 30, 2021, compared to HKD 25,321,000 in the same period of 2020, reflecting a decline of 29.0%[20]. - Cash and cash equivalents increased to HKD 72,973,000 as of June 30, 2021, from HKD 82,203,000 at the end of 2020, showing a decrease of 11.2%[20]. Assets and Liabilities - Trade and other receivables decreased to HKD 125.2 million as of June 30, 2021, from HKD 193.8 million at the end of 2020[14]. - Current liabilities decreased to HKD 99.2 million as of June 30, 2021, from HKD 178.3 million at the end of 2020[14]. - The net asset value of the group as of June 30, 2021, was HKD 155.6 million, an increase from HKD 102.5 million at the end of 2020[14]. - Total trade payables as of June 30, 2021, were HKD 63,035 thousand, a decrease of 40.6% from HKD 106,269 thousand at the end of 2020[65]. - The group's total borrowings as of June 30, 2021, were approximately HKD 21,800,000, a decrease from approximately HKD 48,000,000 as of December 31, 2020[99]. - The group's debt-to-equity ratio was approximately 14.3% as of June 30, 2021, down from approximately 47.4% as of December 31, 2020[99]. Shareholder and Capital Information - The company raised HKD 55,500,000 through a share issuance on January 13, 2021, contributing to its capital reserves[19]. - The company issued 75 million new ordinary shares at HKD 0.74 per share, raising a total of HKD 55.5 million[80]. - The company’s total issued and paid-up shares increased to 300 million by the end of the reporting period[14]. - The company’s legal capital increased from HKD 380,000 to HKD 20 million following the issuance of additional shares approved by shareholders[79]. - The group has not proposed any dividends for the six months ending June 30, 2021, consistent with the previous year[121]. Operational Insights - The group reported a decrease in revenue and net profit due to a significant drop in freight rates as air cargo capacity returned to normal levels following the easing of the COVID-19 pandemic[116]. - The group will continue to monitor the impact of the COVID-19 pandemic on its financial performance and operational results, taking necessary measures as required[116]. - The group aims to strengthen its market position in Hong Kong and China by purchasing more cargo space and establishing closer cooperation with airlines[113][115]. - The group will closely watch developments in US-China relations, which may impact its financial condition and operational performance[117][119]. Governance and Compliance - The group has adopted prudent funding and treasury management policies to maintain a healthy financial position[109]. - The board of directors includes executive directors Zhao Tong and Xie Zhikun, and independent non-executive directors, indicating a diverse governance structure[145]. - The company maintains compliance with the GEM listing rules regarding public float as of August 9, 2021[141]. - The unaudited consolidated financial statements for the six months ended June 30, 2021, have been reviewed by the audit committee[143]. - The financial statements were prepared in accordance with applicable accounting standards and GEM listing rules, ensuring full disclosure[143].