Asia-express Logistics Holdings Limited 亞 洲 速 運 物 流 控 股 有 限 公 司 (incorporated in the Cayman Islands with limited liability) （於開曼群島註冊成立之有限公司） （Stock Code 股份代號︰8620） NOTIFICATION LETTER 通 知 信 函 Dear Non-registered Shareholder (Note 1) , 5 December 2024 The following document of Asia-express Logistics Holdings Limited ("Company") has been prepared in English and Chinese and is available on the websites of the Company at www.asia-expresslogs.com and The Stock Exchange of Hong Kong Limited at www.hkexnews.hk (co ...

Asia-express Logistics Holdings Limited 亞 洲 速 運 物 流 控 股 有 限 公 司 （ Incorporated in Cayman Islands with limited liability ） （於開曼群島註冊成立之有限公司） （Stock Code 股份代號：8620） The following document of Asia-express Logistics Holdings Limited ("Company") has been prepared in English and Chinese and is available on the websites of the Company at www.asia-expresslogs.com and The Stock Exchange of Hong Kong Limited at www.hkexnews.hk (collectively "Websites"):- • Interim Report 2024/2025 (If you have previously requested to ...

Financial Performance - Revenue for the six months ended September 30, 2024, was HKD 175,934,000, a decrease of 4.3% from HKD 184,270,000 in the same period of 2023[12] - The net profit for the period was HKD 1,133,000, down 53.6% from HKD 2,443,000 in the previous year[12] - Basic earnings per share decreased to HKD 0.21 from HKD 0.47, representing a decline of 55.3%[12] - The total comprehensive income for the period was HKD 1,315,000, down 51.0% from HKD 2,681,000 in the previous year[12] - The profit attributable to owners of the company for the six months ended September 30, 2024, was HKD 1,133,000, a decrease of 53.7% from HKD 2,443,000 in the same period of 2023[51] - The group recorded a profit of approximately HKD 1.1 million for the six months ended September 30, 2024, a decrease of about HKD 1.3 million or 53.6% compared to HKD 2.4 million for the same period in 2023[97] Revenue Breakdown - Air cargo station operations revenue increased to HKD 50,376,000 from HKD 44,244,000, representing an increase of 7.6%[34] - Transportation services revenue decreased to HKD 46,872,000 from HKD 52,101,000, a decline of 11.0%[34] - Warehouse and other value-added services revenue decreased to HKD 64,017,000 from HKD 76,011,000, a decrease of 15.8%[34] - Revenue from Hong Kong was HKD 170,298,000, down 4.0% from HKD 177,674,000 in the previous year[39] - Revenue from China was HKD 5,636,000, a decrease of 14.6% from HKD 6,596,000 in the previous year[39] Expenses and Costs - Employee benefits expenses were HKD 23,056,000, slightly reduced from HKD 23,209,000 in the prior period[12] - Transportation costs increased to HKD 65,685,000 from HKD 64,934,000, reflecting a rise of 1.2%[12] - Warehouse operating costs decreased to HKD 13,978,000 from HKD 15,840,000, a reduction of 11.7%[12] - Financing costs decreased by approximately 39.3% to about HKD 1.1 million from approximately HKD 1.8 million in the previous period due to repayment of bank loans[93] Cash Flow and Liquidity - The net cash generated from operating activities for the six months ended September 30, 2024, was HKD 2,390,000, a significant decrease from HKD 13,897,000 for the same period in 2023, representing a decline of about 82.8%[24] - The net cash generated from investing activities was HKD 318,000 for the six months ended September 30, 2024, a decrease from HKD 12,195,000 for the same period in 2023, indicating a decline of approximately 97.4%[24] - The company's cash and cash equivalents decreased to HKD 9,023,000 as of September 30, 2024, from HKD 10,969,000 as of March 31, 2024, reflecting a decline of about 17.7%[15] - The current ratio was approximately 1.1 as of September 30, 2024, compared to 1.0 as of March 31, 2024, indicating sufficient liquidity to meet operational needs[105] Assets and Liabilities - As of September 30, 2024, total assets minus current liabilities amounted to HKD 50,998,000, an increase from HKD 49,382,000 as of March 31, 2024, reflecting a growth of approximately 3.3%[15] - Total equity as of September 30, 2024, was HKD 37,782,000, up from HKD 36,467,000 as of March 31, 2024, indicating an increase of approximately 3.6%[17] - The company's retained losses as of September 30, 2024, were HKD 15,536,000, an increase from HKD 16,669,000 as of April 1, 2024, showing a reduction in losses of about 6.8%[20] - The group’s total liabilities remained stable at HKD 62,454,000 as of September 30, 2024, compared to HKD 62,452,000 as of March 31, 2024[15] Shareholder Information - 3C Holding Limited holds a beneficial interest of 330,120,000 shares, representing approximately 62.5% of the company's issued share capital[122] - Kwan Cheng Limited and Ms. Leung Song each hold 29,880,000 shares, accounting for 5.7% of the company's issued share capital[122] - The company did not declare or recommend any dividends for the six months ended September 30, 2024[48] - The group did not declare or recommend any dividends for the six months ended September 30, 2024, consistent with the same period in 2023[114] Corporate Governance - The company has confirmed that all information provided in the report is accurate and complete, with no misleading elements[3] - The company has complied with all corporate governance codes as per GEM Listing Rules during the reporting period[134] - The Audit Committee, established on March 23, 2020, reviewed the unaudited condensed consolidated financial statements for the six months ended September 30, 2024[137] Future Outlook - The company remains cautiously optimistic about future performance despite short-term challenges, focusing on innovation and operational efficiency[77] - The company aims to create sustainable value for customers, stakeholders, and shareholders by expanding market influence and enhancing service capabilities[77]

香港交易及結算所有限公司及香港聯合交易所有限公司對本公告的內容概不負責，對其準確性或完整性亦不 發表任何聲明，並明確表示概不就因本公告全部或任何部分內容而產生或因依賴該等內容而引致的任何損失 承擔任何責任。 Asia-express Logistics Holdings Limited 亞 洲 速 運 物 流 控 股 有 限 公 司 （ 於開曼群島註冊成立之有限公司） 本公司股東及有意投資者於買賣本公司證券時務請審慎行事。 承董事會命 亞洲速運物流控股有限公司 （股份代號：8620） 盈利警告 本公告乃由亞洲速運物流控股有限公司（「本公司」，連同其附屬公司統稱「本集團」）根據香 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」）第17.10條及香港 法例第571章證券及期貨條例第XIVA部內幕消息條文（ 定義見GEM上市規則）作出。 本公司董事（「董事」）會（「董事會」）謹此知會本公司股東及有意投資者，根據本集團對截至 2024 年 9 月 30 日 止 六 個 月 的 未 經 審 核 綜合 管 理 賬 目 及 董 事 會 目 前 可 得 資料 所 作 出 的 初 步 評 估 ， ...

亞 洲 速 運 物 流 控 股 有 限 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的內容概不負責，對其準確性或完整性亦不 發表任何聲明，並明確表示概不就因本公告全部或任何部分內容而產生或因依賴該等內容而引致的任何損失 承擔任何責任。 Asia-express Logistics Holdings Limited 於本公告日期，執行董事為陳烈邦先生及陳宇先生；非執行董事為蔡穎恒先生；及獨立非執行董事為府磊先 生、陳志豪先生及徐倩珩女士。 本公告載有遵照香港聯合交易所有限公司GEM證券上市規則而提供有關本公司的資料，本公司全體董事就此 共同及個別承擔全部責任。本公司董事在作出一切合理查詢後確認，就彼等所深知及確信，本公告所載資料 在各重大方面均屬準確及完整，並無誤導或欺詐成分，且本公告並無遺漏任何其他事宜，致使當中任何陳述 或本公告產生誤導。 本公告將由刊登日期起計最少7日刊載於香港聯合交易所有限公司網站www.hkexnews.hk內之「最新上市公司公 告」網頁及本公司網站www.asia-expresslogs.com。 亞洲速運物流控股有限公司（「本公司」）董事（「董事」）會（「董事會 ...

香港交易及結算所有限公司及香港聯合交易所有限公司（「聯交所」）對本公告的內容概不負責，對其準確性或 完整性亦不發表任何聲明，並明確表示概不就因本公告全部或任何部分內容而產生或因依賴該等內容而引致 的任何損失承擔任何責任。 Asia-express Logistics Holdings Limited 有關2024年年報的 補充公告 茲 提述 亞洲 速運 物流 控股 有 限公 司（「 本公 司」， 連同 其附 屬公 司統 稱「本 集 團」）於2024 年7 月26日所刊發截至2024年3月31日止年度的年報（「2024年年報」）。除文義另有所指外，本公 告所用詞彙與2024年年報所界定者具有相同涵義。 亞 洲 速 運 物 流 控 股 有 限 公 司 （ 於開曼群島註冊成立之有限公司） （股份代號：8620） 除 2024 年 年報 所披 露有 關於 2023 年 5 月 16 日 完成 根 據一 般授 權配 售新 股份（「配 售」）的資 料 外，本 公司董事（「董事」）會（「董 事會」）謹此根據 GEM 上市規則 第18.32 (8) 條的規定提 供以 下額外資料： | | | 截至2024年 3月31日 | ...

Revenue Growth and Financial Performance - The group experienced moderate but satisfactory revenue growth, primarily due to new supplementary warehouse handling services for one of its top five clients and the successful operation of two new warehouses in Tuen Mun, Hong Kong, and Shantou, China[16]. - The company's total revenue increased by approximately HKD 28.4 million or 8.7% from about HKD 327.7 million for the year ended March 31, 2023, to about HKD 356.2 million for the year ended March 31, 2024[20]. - Revenue from air cargo terminal operations decreased from HKD 135.0 million (41.2%) in 2023 to HKD 112.6 million (31.6%) in 2024, while transportation services revenue increased from HKD 92.4 million (28.2%) to HKD 98.0 million (27.5%)[18]. - The company recorded a net loss of approximately HKD 4.5 million for the year ended March 31, 2024, a decrease from a net loss of about HKD 20.2 million in 2023[35]. - The group's net profit margin for the year ending March 31, 2024, is approximately -1.3%, an improvement from -6.2% in 2023[141]. - The return on equity for the same period is approximately -13.6%, significantly better than -60.3% in 2023[141]. - Net cash generated from operating activities is approximately HKD 27.6 million, up from HKD 11.3 million in 2023[141]. - Cash and cash equivalents stand at approximately HKD 11.0 million, compared to HKD 3.7 million in 2023[141]. Cost Management and Operational Efficiency - Strategic measures have been implemented to improve efficiency and reduce operational costs, despite ongoing challenges from rising fuel prices and labor costs[10]. - The company is committed to strict cost control measures to effectively lower labor and transportation costs, thereby enhancing overall operational efficiency[11]. - The cost of dispatched labor increased by approximately HKD 7.4 million or 6.3% from about HKD 117.0 million in 2023 to about HKD 124.4 million in 2024, driven by increased demand for labor due to higher cargo volumes[25]. - Transportation costs decreased by approximately HKD 3.2 million or 2.4% from about HKD 134.7 million in 2023 to about HKD 131.5 million in 2024[26]. Client Relationships and Market Opportunities - The company successfully renewed contracts with two major clients, reflecting strong relationships and customer trust, which are crucial for long-term success and stability[11]. - E-commerce has been a significant growth area, with a surge in online shopping leading to increased cargo handling volumes and heightened demand for logistics and delivery services[16]. - The company aims to develop logistics solutions to meet the significant opportunities presented by the growth of e-commerce[11]. - The company emphasizes the importance of strengthening relationships and identifying growth opportunities with existing clients to provide exceptional value-added services[11]. Management and Governance - The company has a strong management team with extensive experience in logistics and operations, including Mr. Ma Jiarong, who has over 20 years in the air cargo ground handling industry[65]. - The board includes members with significant experience in various sectors, enhancing the company's governance and strategic direction[56][59][61][64][65][68][69]. - The company emphasizes internal policy implementation and employee training as part of its operational strategy[68]. - The board consists of six members, including two executive directors, one non-executive director, and three independent non-executive directors, ensuring a balanced governance structure[76]. - The company has adopted corporate governance principles in compliance with GEM Listing Rules, ensuring proper regulation of its operations[76]. Financial Position and Debt Management - As of March 31, 2024, the group's bank loan balance was approximately HKD 13.5 million, with a floating interest rate of about 6.8%, up from 5.7% in 2023[37]. - The group's debt-to-equity ratio improved to approximately 93.3% as of March 31, 2024, compared to 189.4% in 2023, primarily due to a reduction in bank loans and lease liabilities[37]. - The current ratio increased to approximately 1.0 times as of March 31, 2024, compared to 0.8 times in 2023, due to a decrease in bank loan balances[40]. - The company's distributable reserves as of March 31, 2024, amount to approximately HKD 20,640,000, an increase from approximately HKD 15,346,000 in 2023, representing a growth of about 34.9%[168]. Shareholder and Corporate Policies - The company did not declare a final dividend for the year ended March 31, 2024, consistent with the previous year[48]. - The company has adopted a dividend policy to guide decisions on declaring and paying dividends, with no predetermined dividend payout ratio[110]. - The company encourages shareholders to attend meetings and vote, with all resolutions presented at the general meeting being voted on[118]. - The company has established a shareholder communication policy to enhance effective communication with shareholders and potential investors[126]. Environmental and Social Responsibility - The company has implemented an environmental policy focused on corporate social responsibility and creating economic value for stakeholders[136]. - The group is committed to environmental protection and sustainability, implementing green office practices to reduce energy and resource consumption[198]. Compliance and Risk Management - The company has complied with relevant laws and regulations in all significant aspects during the fiscal year ending March 31, 2024[139]. - The company emphasizes the importance of risk management practices to mitigate operational and financial risks, particularly in retaining customers and senior management[134]. - The board will continue to review the effectiveness and adequacy of the risk management and internal control systems annually[116].

Revenue Performance - The total revenue for the year ended March 31, 2024, was HKD 4,356,161, compared to HKD 327,736 for the previous year, indicating a significant increase[3]. - The company's total revenue increased by approximately HKD 28.4 million or 8.7% from about HKD 327.7 million for the year ended March 31, 2023, to approximately HKD 356.2 million for the year ended March 31, 2024[68]. - The overall revenue increased by approximately HKD 28.4 million or 8.7% to about HKD 356.2 million for the year ended March 31, 2024, compared to approximately HKD 327.7 million for the year ended March 31, 2023[116]. - Revenue for the year ended March 31, 2024, was HKD 49,996,000, a decrease of 15.4% from HKD 59,103,000 in 2023[148]. - The revenue from warehousing and value-added services significantly increased to HKD 145,500,000 in 2024, up from HKD 100,290,000 in 2023, reflecting a growth of approximately 45.0%[191]. Financial Performance - The company reported a basic loss per share of HKD 0.85 for the year, a decrease from HKD 4.20 in the previous year, reflecting improved financial performance[5]. - The group recorded a loss of approximately HKD 4.5 million for the year ended March 31, 2024, a decrease from a loss of approximately HKD 20.2 million for the year ended March 31, 2023[53]. - The group reported a loss attributable to owners of HKD 4,457,000 for 2024, compared to a loss of HKD 20,175,000 in 2023, indicating an improvement in performance[154]. - The group recorded a pre-tax loss of HKD 4,772,000 in 2024, an improvement from a loss of HKD 20,362,000 in 2023[129]. Expense Management - Total comprehensive expenses for the year were HKD 4,302, compared to HKD 21,224 in the previous year, showing a reduction in expenses[4]. - Employee benefits expenses increased by approximately HKD 0.5 million or 1.1% to about HKD 48.4 million for the year ended March 31, 2024, primarily due to the absence of government subsidies received in the previous year[48]. - The group incurred employee costs of HKD 48,353,000 in 2024, slightly up from HKD 47,824,000 in 2023[178]. - Other income decreased by approximately HKD 2.9 million or 76.2% to about HKD 0.9 million for the year ending March 31, 2024, compared to approximately HKD 3.8 million for the year ending March 31, 2023[69]. - Warehousing operating costs increased by approximately HKD 5.5 million or 22.8% to about HKD 29.4 million for the year ending March 31, 2024, compared to approximately HKD 23.9 million for the year ending March 31, 2023[73]. Asset and Liability Management - The total assets less current liabilities stood at HKD 5,280, compared to HKD 4,800 in the previous year, indicating a positive trend in asset management[9]. - The company's total liabilities were HKD 37,761, with current liabilities accounting for HKD 37,288, indicating a high level of short-term obligations[28]. - The net debt-to-equity ratio improved to approximately 91.1% as of March 31, 2024, compared to approximately 189.4% as of March 31, 2023[55]. - The current ratio improved to approximately 1.0 times as of March 31, 2024, compared to about 0.8 times as of March 31, 2023[80]. - Total equity increased to HKD 36,467,000 in 2024 from HKD 33,436,000 in 2023, reflecting a stronger financial position[158]. Operational Efficiency - The trade receivables turnover days improved to approximately 43 days for the year ended March 31, 2024, down from approximately 54 days for the year ended March 31, 2023[54]. - The trade payables turnover days decreased to approximately 38 days for the year ending March 31, 2024, from about 42 days for the year ending March 31, 2023[76]. - The company plans to continue implementing strict cost control measures to enhance overall operational efficiency[189]. - The company is evaluating the profitability of its current warehouse operations to optimize overall profitability[189]. Client and Market Dynamics - The logistics sector has seen significant growth due to the surge in e-commerce, increasing demand for logistics and delivery services[125]. - The company successfully renewed contracts with two major clients, reflecting strong customer relationships and trust[189]. - Customer A contributed HKD 131,829,000 in revenue for 2024, slightly down from HKD 133,727,000 in 2023, while Customer B's revenue increased significantly to HKD 121,855,000 from HKD 97,985,000[148]. Future Outlook and Governance - The company aims to continue developing logistics solutions to meet the significant growth in e-commerce demand[44]. - The group has not made any significant investments or acquisitions during the year ended March 31, 2024, and there are no future plans for significant investments or acquisitions of capital assets[96]. - The group will adjust its overall capital structure through dividend payments, issuing new shares, and repaying debts[95]. - The audit committee expressed satisfaction with the review of the auditor's remuneration and independence, recommending the reappointment of the auditor for the financial year ending March 31, 2025, subject to shareholder approval at the upcoming annual general meeting[103].

Financial Performance - Revenue for the six months ended September 30, 2023, was HKD 184.27 million, an increase of 5.8% compared to HKD 173.87 million for the same period in 2022[9] - The company reported a profit of HKD 2.44 million for the six months ended September 30, 2023, compared to a loss of HKD 6.94 million in the same period last year[9] - Basic earnings per share for the six months ended September 30, 2023, was HKD 0.47, improving from a loss per share of HKD 1.44 in the previous year[9] - The company experienced a total comprehensive income of HKD 2,682,000 for the six months ended September 30, 2023, compared to a total comprehensive expense of HKD 7,592,000 for the same period in 2022[14] - The company reported a net profit of HKD 2,443,000 for the six months ended September 30, 2023, compared to a loss of HKD 6,935,000 in the same period of 2022[38] - The company did not declare any dividends for the six months ended September 30, 2023[36] Revenue Breakdown - Revenue from air cargo terminal operations, transportation services, and warehousing and other value-added services contributed to the overall revenue, with warehousing services showing significant growth from HKD 55,107,000 to HKD 76,011,000 for the six-month period[24] - Revenue from Hong Kong for the six months ended September 30, 2023, was HKD 177,674,000, representing a 5.2% increase from HKD 169,017,000 in 2022[27] - Revenue from China increased significantly to HKD 6,596,000 for the six months ended September 30, 2023, compared to HKD 4,852,000 in the same period of 2022, marking a growth of 36%[27] Cash Flow and Financing - The company reported a net cash inflow from operating activities of HKD 13,897,000 for the six months ended September 30, 2023, compared to HKD 6,444,000 for the same period in 2022, reflecting a 115% increase[16] - Investment activities generated a net cash inflow of HKD 12,195,000 for the six months ended September 30, 2023, compared to a cash outflow of HKD 2,579,000 in the previous year[16] - The company’s financing costs for the six months ended September 30, 2023, were HKD 1.83 million, up from HKD 1.50 million in the same period last year[9] - The company’s financing activities resulted in a net cash outflow of HKD 21,980,000 for the six months ended September 30, 2023, compared to HKD 17,008,000 in the previous year[16] Assets and Liabilities - Trade and other receivables increased to HKD 54.72 million as of September 30, 2023, from HKD 51.38 million as of March 31, 2023[11] - Total assets less current liabilities improved to HKD 60.59 million as of September 30, 2023, compared to HKD 45.99 million as of March 31, 2023[11] - The company’s non-current assets decreased to HKD 59.22 million as of September 30, 2023, from HKD 60.50 million as of March 31, 2023[11] - As of September 30, 2023, the company's non-current liabilities increased to HKD 17,136,000 from HKD 12,559,000 as of March 31, 2023, representing a 36.5% increase[12] - The net asset value rose to HKD 43,451,000 as of September 30, 2023, compared to HKD 33,436,000 as of March 31, 2023, indicating a growth of 30%[12] Operational Efficiency - The company plans to continue expanding its market presence and investing in new technologies to enhance operational efficiency[9] - The newly established warehouses in Tuen Mun, Hong Kong, and Shantou, China, have successfully commenced operations, contributing to revenue growth[58] - The overall economic environment in Hong Kong remains challenging, with average year-on-year declines of approximately 9.7% and 8.3% in total import and export volumes, respectively[57] Employee and Operational Costs - Employee benefit expenses for the six months ended September 30, 2023, were HKD 23.21 million, slightly increasing from HKD 23.03 million in the previous year[9] - The total employee cost for the six months ended September 30, 2023, was approximately HKD 22.4 million, slightly up from approximately HKD 22.2 million for the same period in 2022[81] - Dispatch labor costs decreased by approximately HKD 1.4 million or 2.2% to about HKD 62.2 million for the current period, attributed to strict cost control measures[67] - Transportation costs decreased by approximately HKD 3.0 million or 4.4% to about HKD 64.9 million for the current period, due to a reduction in business volume[70] - Warehousing operating costs increased by approximately HKD 2.9 million or 22.9% to about HKD 15.8 million for the current period, mainly due to expenses from two newly established warehouses[71] Share Capital and Ownership - The company completed a share placement on May 16, 2023, raising approximately HKD 7,536,000 through the issuance of 48,000,000 shares at HKD 0.157 per share[15] - The group’s issued share capital increased to HKD 5,280,000 as of September 30, 2023, from HKD 4,800,000 as of March 31, 2023, following the issuance of 48,000,000 new shares[52] - 3C Holding Limited holds 330,120,000 shares, representing approximately 62.5% of the company's issued share capital[95] - Kwan Cheng Limited owns about 5.7% of the company's total issued share capital, equating to 29,880,000 shares[96] Compliance and Governance - The audit committee has reviewed the unaudited condensed consolidated financial statements for the six months ended September 30, 2023, ensuring compliance with applicable accounting standards and GEM Listing Rules[108]

Financial Performance - Revenue for the three months ended June 30, 2023, was HKD 93,717,000, a 2.1% increase from HKD 91,752,000 in the same period of 2022[5] - The company reported a profit of HKD 1,057,000 for the quarter, compared to a loss of HKD 2,550,000 in the previous year[5] - Basic earnings per share for the quarter was HKD 0.21, recovering from a loss per share of HKD 0.53 in the same quarter last year[5] - Total comprehensive income for the period was HKD 1,191,000, compared to a total comprehensive loss of HKD 3,179,000 in the prior year[5] - The company recorded a net profit of HKD 1.057 million for the three months ended June 30, 2023, compared to a net loss of HKD 2.550 million for the same period in 2022[19] - The company recorded a net profit of approximately HKD 1.1 million for the current period, compared to a net loss of approximately HKD 2.6 million in the previous period, primarily due to increased revenue from warehousing and other value-added services and effective budget management[39] Revenue Sources - Revenue from warehousing and other value-added services rose by approximately HKD 13.6 million or 44.8% to approximately HKD 44.0 million, driven by additional services provided to one of the top five clients and the operation of two new warehouses in Tuen Mun, Hong Kong, and Shantou, China[25] - The company's total revenue for the three months ended June 30, 2023, increased by approximately HKD 2.0 million or 2.1% to approximately HKD 93.7 million compared to HKD 91.8 million for the same period in 2022[25] Cost Management - Employee benefit expenses increased slightly to HKD 11,657,000 from HKD 11,516,000 year-on-year[5] - Transportation costs decreased to HKD 33,883,000 from HKD 36,774,000, reflecting a 7.8% reduction[5] - Warehouse operating costs increased to HKD 8,118,000 from HKD 6,519,000, marking a 24.5% increase[5] - The company implemented strict cost control measures that effectively reduced labor and transportation costs, improving overall operational efficiency[23] - Employee benefits expenses slightly increased by approximately HKD 0.1 million or 1.2% to approximately HKD 11.7 million, with a notable decrease of approximately HKD 0.9 million when excluding government subsidies received in the previous period[28] - Transportation costs decreased by approximately HKD 2.9 million or 7.9% to approximately HKD 33.9 million, mainly due to reduced service fees paid to external transport service providers[33] - Warehouse operating costs increased by approximately HKD 1.6 million or 24.5% to approximately HKD 8.1 million, primarily due to expenses from two new warehouses and increased business volume in the warehousing services segment[34] - The company implemented strict cost control measures, resulting in a reduction of dispatched labor costs by approximately HKD 1.2 million or 3.7% to approximately HKD 30.5 million[30] Equity and Financial Position - The company’s total equity as of June 30, 2023, was HKD 41,960,000, down from HKD 54,660,000 a year earlier[6] - The estimated tax expense for the current period was HKD 129,000, with no deferred tax recognized due to the absence of taxable profits in the previous period[15] Other Financial Information - Other income decreased by approximately HKD 0.5 million or 68.3% to approximately HKD 0.2 million, primarily due to the absence of government subsidies received in the previous year[26] - Financing costs increased by approximately HKD 0.2 million or 31.3% to approximately HKD 0.9 million, mainly due to rising interest rates[37] - Other income and losses were recorded at approximately HKD 0.3 million for the current period, compared to HKD 0.4 million in the previous period[27] - Depreciation of property, plant, and equipment decreased by approximately HKD 0.3 million or 14.7% to approximately HKD 1.6 million, mainly due to increased depreciation of vehicles in the previous period[31] Corporate Actions - The company completed a placement of 48,000,000 shares at a price of HKD 0.157 per share, raising approximately HKD 7,536,000[6] - The company did not declare or pay any dividends for the three months ended June 30, 2023, consistent with the previous year[20] - The company did not purchase, sell, or redeem any of its listed securities during the period[46] - The company has not granted, lapsed, exercised, or cancelled any options under the share option scheme as of the report date[45] - There were no significant acquisitions or disposals related to subsidiaries or associates during the reporting period[53] Compliance and Reporting - The audit committee has reviewed the unaudited financial results for the first quarter, confirming compliance with applicable accounting standards and GEM listing rules[51] - The first quarter report was published on the company's website and complies with all GEM listing rule requirements[55] - The company has not identified any significant matters that require disclosure after the reporting period[54]