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） （股份代號：8620） 截至2023年6月30日止三個月 第一季度業績公告 亞洲速運物流控股有限公司（「本公司」，連同其附屬公司統稱為「本集團」）董事（「董事」）會 （「董事會」）欣然公佈本集團截至2023年6月30日止三個月的第一季度未經審核綜合業績。 本公告載有本公司2023/2024年第一季度報告（「2023/2024年第一季度報告」）全文，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」）關於第一季度業績 初步公告所附資料的相關規定。2023/2024年第一季度報告的印製版本將於適當時候發送予 本公司股東，並於聯交所網站www.hkexnews.hk及本公司網站www.asia-expresslogs.co ...

Financial Performance - The company reported a net loss of approximately HKD 20.2 million for the fiscal year ending March 31, 2023, an increase of about HKD 1.9 million compared to a net loss of HKD 18.3 million for the previous fiscal year[9]. - The company's total revenue decreased by approximately HKD 85.2 million or 20.6% from about HKD 412.9 million for the year ended March 31, 2022, to about HKD 327.7 million for the year ended March 31, 2023[18]. - Revenue from air cargo terminal operations decreased by approximately HKD 28.4 million or 17.4% to about HKD 135.0 million for the year ended March 31, 2023, compared to about HKD 163.4 million for the previous year[19]. - Revenue from warehousing and other value-added services decreased by approximately HKD 35.3 million or 26.0% to about HKD 100.3 million for the year ended March 31, 2023, down from about HKD 135.6 million[19]. - The net loss for the year ended March 31, 2023, was approximately HKD 20.2 million, an increase from HKD 18.3 million in 2022, primarily due to adverse external conditions affecting the logistics industry in Hong Kong[33]. - The net profit margin for the fiscal year ending March 31, 2023, was approximately -6.2%, compared to -4.4% in 2022[148]. - The return on equity for the same period was approximately -60.3%, up from -33.5% in 2022[148]. - The largest customer accounted for approximately 40.8% of total revenue for the fiscal year ending March 31, 2023, compared to 39.5% in 2022[156]. - The top five customers represented approximately 83.6% of total revenue, up from 79.6% in 2022[156]. Cost Management - The company continues to implement cost-saving measures and improve operational efficiency to mitigate the impact of COVID-19 on its business[9]. - Employee benefit expenses decreased by approximately HKD 8.9 million or 15.7% to about HKD 47.8 million for the year ended March 31, 2023, down from about HKD 56.7 million[24]. - Transportation costs decreased by approximately HKD 53.7 million or 28.5% to about HKD 134.7 million for the year ended March 31, 2023, compared to about HKD 188.5 million[28]. - Warehousing operating costs decreased by approximately HKD 5.7 million or 19.2% to about HKD 23.9 million for the year ended March 31, 2023, down from about HKD 29.6 million[29]. - Other expenses decreased by approximately HKD 3.4 million or 41.8% to about HKD 4.8 million for the year ended March 31, 2023, compared to about HKD 8.2 million[30]. - Operational costs were reduced by 5% through improved logistics processes and automation[54]. Strategic Outlook - The company remains optimistic about the logistics industry's development, particularly with the transition of mainland China from a zero-COVID policy to a no-restriction policy, which is expected to positively impact the logistics sector in Hong Kong[9]. - Future strategies will focus on deepening cooperation in the Guangdong-Hong Kong-Macao Greater Bay Area and consolidating Hong Kong's position as a global international aviation and transportation hub[10]. - The company aims to enhance its market position in Hong Kong and expand its business in mainland China to attract potential customers[10]. - The company is expanding its market presence in Southeast Asia, targeting a 10% market share within the next two years[54]. - The company provided guidance for the next fiscal year, projecting revenue growth of 25% and aiming to reach $625 million[54]. Governance and Compliance - 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[77]. - The company has complied with all provisions of the corporate governance code during the reporting period[74]. - The board has established an audit committee, a nomination committee, and a remuneration committee to enhance governance practices[74]. - The independent non-executive directors have confirmed their independence in accordance with the GEM listing rules[77]. - The company emphasizes continuous professional development and training for directors and senior management[82]. - The board is responsible for guiding and supervising the company's affairs, ensuring effective internal controls and risk management systems are in place[93]. - The company has maintained a satisfactory and effective shareholder communication policy, with multiple channels established for communication with shareholders and investors[128]. Shareholder Information - The company did not declare a final dividend for the year ended March 31, 2023, consistent with the previous year[48]. - The board will review the dividend policy and has no predetermined dividend payout ratio, maintaining discretion over future dividends[112]. - The company encourages shareholders to attend meetings and vote, with all resolutions presented at the general meeting being voted on[120]. - The company has established procedures for shareholders to propose special meetings and nominate candidates for the board[123][125]. Employee and Diversity Initiatives - The company employed 201 full-time employees as of March 31, 2023, down from 225 in 2022, with employee costs for the year amounting to approximately HKD 46.1 million[39]. - The board currently includes one female director, achieving gender diversity, and aims to improve female representation in senior management[108]. - Approximately 23% of the group's employees are female, reflecting ongoing diversity measures at all employee levels[109]. Risk Management - The company has a strong focus on risk assessment and management, ensuring appropriate measures are in place to address potential risks[84]. - The audit committee reviewed the external auditor's independence and qualifications, as well as the potential impact of accounting policy changes on the financial statements[97]. - The internal audit function reviews the adequacy and effectiveness of the risk management and internal control systems annually[118].

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） （股份代號：8620） 截至2023年3月31日止 年度業績公告 亞洲速運物流控股有限公司（「本公司」，連同其附屬公司統稱為「本集團」）董事（「董事」）會 （「董事會」）欣然公佈本集團截至2023年3月31日止年度已審核綜合業績。本公告載有本公 司2023年度報告（「2023年報」）全文，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」）關於年度業績初步公告所附資料的相關規定。2023年報的印製版 本將適時發送予本公司股東，並於聯交所網站www.hkexnews.hk及本公司網站www.asia- expresslogs.com刊載。 承董事會命 亞洲速運物流控股有限公司 執行董事 陳烈邦 香港，2023年6月28 ...

Financial Performance - Revenue for the three months ended December 31, 2022, was HKD 79,193,000, a decrease of 30.4% compared to HKD 113,903,000 for the same period in 2021[6] - Revenue for the nine months ended December 31, 2022, was HKD 253,062,000, down 23.6% from HKD 331,410,000 in the previous year[6] - The company reported a loss of HKD 4,365,000 for the three months ended December 31, 2022, compared to a profit of HKD 348,000 in the same period of 2021[7] - For the nine months ended December 31, 2022, the loss was HKD 11,300,000, significantly higher than a loss of HKD 119,000 in the previous year[7] - The company recorded a total comprehensive loss of HKD 4,012,000 for the three months ended December 31, 2022, compared to a comprehensive income of HKD 1,231,000 in the same period of 2021[7] - The basic loss per share for the three months ended December 31, 2022, was HKD 0.91, compared to earnings of HKD 0.07 per share in the previous year[7] - The company reported a loss attributable to owners of HKD 11,300,000 for the nine months ended December 31, 2022, compared to a loss of HKD 119,000 in 2021[23] - Basic loss per share for the nine months ended December 31, 2022, was HKD (0.0236), compared to HKD (0.0002) in 2021[23] Revenue Breakdown - Air cargo ground handling services generated revenue of HKD 72,301,000 for the nine months ended December 31, 2022, down 4.4% from HKD 75,933,000 in 2021[16] - Transportation services revenue was HKD 84,976,000 for the nine months ended December 31, 2022, a decline of 7.7% from HKD 92,233,000 in 2021[16] - Warehouse and other value-added services revenue decreased by 33.5% to HKD 73,853,000 for the nine months ended December 31, 2022, compared to HKD 111,148,000 in 2021[16] - Total revenue decreased by approximately HKD 78.3 million or 23.6% to about HKD 253.1 million for the nine months ended December 31, 2022, compared to HKD 331.4 million for the same period in 2021[29] - Revenue from warehousing and other value-added services fell by approximately HKD 37.3 million or 33.6% to about HKD 73.9 million[29] - Revenue from air cargo station operations decreased by approximately HKD 33.8 million or 26.4% to about HKD 94.2 million[29] Cost Management - Employee benefit expenses decreased to HKD 34,860,000 for the nine months ended December 31, 2022, down 13.8% from HKD 40,470,000 in 2021[6] - Employee benefit expenses decreased by approximately HKD 5.6 million or 13.9% to about HKD 34.9 million due to government subsidies[33] - Transportation costs were reduced to HKD 99,379,000 for the nine months ended December 31, 2022, a decrease of 35.7% compared to HKD 154,524,000 in the previous year[6] - Transportation costs decreased by approximately HKD 55.1 million or 35.7% to about HKD 99.4 million[37] - Financing costs increased by approximately HKD 0.5 million or 29.9% to about HKD 2.4 million due to increased bank loan interest expenses[41] - The company will continue to implement prudent cost control measures to enhance competitiveness in the logistics industry[29] Shareholder Information - As of December 31, 2022, the company’s major shareholders include Mr. Chan Lit Pong with 330,120,000 shares, representing 68.8% of the issued share capital, and Mr. Choi Wing Hang with 29,880,000 shares, representing 6.2%[45][46][47] - The company did not purchase, sell, or redeem any of its listed securities during the nine months ended December 31, 2022[50] - No significant acquisitions or disposals of subsidiaries or associates were made during the nine months ended December 31, 2022[59] - The company did not declare or pay any dividends during the nine months ended December 31, 2022[58] Corporate Governance - The audit committee has reviewed the unaudited financial results for the nine months ended December 31, 2022, and confirmed compliance with applicable accounting standards and GEM Listing Rules[57] - The company has applied the principles of corporate governance as per GEM Listing Rules and complied with all applicable code provisions[54] - The executive directors are Mr. Chan Lit Pong and Mr. Chan Yu, with non-executive director Mr. Choi Wing Hang and independent non-executive directors Mr. Fu Lei, Mr. Chan Chi Ho, and Ms. Xu Qian Hang[63] - The company’s compliance advisor, Zhi Fu Finance Limited, has no interests in the company or its subsidiaries as of December 31, 2022[56] - All equity interests held by directors and major shareholders are classified as beneficial ownership[48] Future Outlook - The company continues to implement growth strategies and actively seeks new business opportunities in the logistics sector[26] - The establishment of air cargo container warehouses at the Wharf Logistics Centre and the Asia Container Logistics Centre enhances the company's ability to provide integrated logistics services[26] - The company anticipates that the gradual recovery of cross-border land transport and the opening of international travel in mainland China will stimulate export demand[29] Miscellaneous - The company did not declare or recommend any dividends for the nine months ended December 31, 2022, consistent with 2021[24] - There were no significant events that required disclosure after December 31, 2022, up to the report date[61] - The company has not granted, lapsed, exercised, or cancelled any share options under the share option scheme as of the report date[49] - The report pertains to the third quarter of the fiscal year 2022/2023 for Asia Speed Logistics Holdings Limited[64]

Financial Performance - Revenue for the six months ended September 30, 2022, was HKD 173,869,000, a decrease of 20% compared to HKD 217,507,000 for the same period in 2021[9] - The company reported a loss of HKD 6,935,000 for the six months ended September 30, 2022, compared to a loss of HKD 467,000 for the same period in 2021[9] - The group reported a net loss of HKD 6,935,000 for the six months ended September 30, 2022, compared to a loss of HKD 467,000 in the same period of 2021[40] - The company recorded a total comprehensive loss of HKD 7,592,000 for the six months ended September 30, 2022, compared to a loss of HKD 277,000 in the same period of the previous year[14] - Total revenue decreased by approximately HKD 43.6 million or 20.1% to about HKD 173.9 million for the six months ended September 30, 2022, compared to approximately HKD 217.5 million for the same period in 2021[61] Cost Management - Employee benefit expenses decreased by 13% to HKD 23,026,000 from HKD 26,656,000 year-on-year[9] - Transportation costs decreased by 31% to HKD 67,923,000 from HKD 98,746,000 year-on-year[9] - The total employee costs for the six months ended September 30, 2022, were HKD 23,026,000, a decrease from HKD 26,836,000 in the same period of 2021[36] - Warehousing operating costs decreased by approximately HKD 1.1 million or 7.7% to about HKD 12.9 million for the six months ended September 30, 2022, from approximately HKD 14.0 million for the same period in 2021[71] - Other expenses decreased by approximately HKD 1.6 million or 34.3% to about HKD 3.1 million for the six months ended September 30, 2022, from approximately HKD 4.7 million for the same period in 2021[72] Assets and Liabilities - Total assets decreased to HKD 87,908,000 from HKD 106,881,000 as of March 31, 2022[11] - The company’s current liabilities increased to HKD 96,523,000 from HKD 103,831,000 as of March 31, 2022[11] - The net current liabilities position was HKD 8,615,000 as of September 30, 2022, compared to a net current assets position of HKD 3,050,000 as of March 31, 2022[11] - As of September 30, 2022, the company's non-current liabilities increased to HKD 20,540,000 from HKD 19,968,000 as of March 31, 2022, representing a growth of approximately 2.86%[12] - The net asset value decreased to HKD 47,068,000 from HKD 54,660,000, indicating a decline of about 13.9%[12] Cash Flow - The company reported a net cash inflow from operating activities of HKD 6,444,000 for the six months ended September 30, 2022, down from HKD 11,121,000 in the same period of 2021, a decrease of approximately 42.5%[16] - Cash and cash equivalents at the end of the period were HKD 8,170,000, a significant decrease from HKD 29,581,000 at the end of the previous year, reflecting a decline of about 72.4%[16] - Cash and bank balances as of September 30, 2022, totaled approximately HKD 8.2 million, down from HKD 21.7 million as of March 31, 2022[84] Revenue Breakdown - Revenue from air cargo terminal operations, transportation services, and warehousing and other value-added services decreased significantly, with air cargo terminal operations revenue dropping from HKD 50,381,000 in 2021 to HKD 49,081,000 in 2022 for the six-month period[24] - Revenue from Hong Kong operations for the six months ended September 30, 2022, was HKD 169,017,000, down 20.5% from HKD 212,630,000 in 2021[28] - Major customers contributing over 10% of the group's revenue included Customer A with HKD 70,874,000 and Customer B with HKD 52,063,000 for the six months ended September 30, 2022, both showing declines from the previous year[31] Future Outlook - The company has not provided specific guidance for future performance in the report[9] - There is no mention of new products, technologies, or market expansion strategies in the interim report[9] - The company aims to leverage existing industry knowledge to expand core strengths and explore more business opportunities in the future[60] Shareholder Information - 3C Holding Limited holds 330,120,000 shares, representing approximately 68.8% of the company's issued share capital[98] - Kwan Cheng Limited owns about 6.2% of the company's total issued share capital, equating to 29,880,000 shares[99] - The group did not declare any dividends for the six months ended September 30, 2022[37] - The company did not declare or recommend any dividends for the six months ended September 30, 2022, consistent with the same period in 2021[92] Compliance and Governance - The audit committee has reviewed the unaudited condensed consolidated financial statements for the six months ended September 30, 2022, ensuring compliance with applicable accounting standards and GEM Listing Rules[113] - The report complies with all requirements set forth by the GEM listing rules[115] - The mid-term report for the fiscal year 2022/2023 is available on the company's website and the Hong Kong Stock Exchange website[115] - The chairman of the board, Mr. Chan Lit Pong, presented the mid-term report on November 14, 2022[116]

Financial Performance - Revenue for the three months ended June 30, 2022, was HKD 91,752,000, a decrease of 10.3% compared to HKD 102,046,000 for the same period in 2021[7] - The company reported a net loss of HKD 2,550,000 for the three months ended June 30, 2022, compared to a net loss of HKD 1,311,000 for the same period in 2021, representing an increase in loss of 94.5%[7] - Total comprehensive loss for the period was HKD 3,179,000, compared to HKD 1,056,000 for the same period in 2021, indicating a significant increase in comprehensive loss[7] - Basic loss per share for the three months ended June 30, 2022, was HKD 0.53, compared to HKD 0.27 for the same period in 2021[7] - The company recorded a loss attributable to owners of the company of HKD 2.55 million for the three months ended June 30, 2022, compared to a loss of HKD 1.31 million for the same period in 2021[19] - The group recorded a net loss of approximately HKD 2.6 million for the three months ended June 30, 2022, compared to a net loss of about HKD 1.3 million for the same period in 2021, primarily due to restrictions on cross-border transportation services[36] Revenue Breakdown - Total revenue for the three months ended June 30, 2022, was approximately HKD 91.8 million, a decrease of about HKD 10.3 million or 10.1% from approximately HKD 102.0 million for the same period in 2021[25] - Revenue from ancillary delivery services decreased significantly by approximately HKD 7.6 million or 43.7%, from approximately HKD 17.4 million in the three months ended June 30, 2021, to approximately HKD 9.8 million in the same period of 2022[25] Cost Management - Employee benefit expenses decreased to HKD 11,516,000 from HKD 13,460,000, a reduction of 14.5% year-on-year[7] - Transportation costs decreased to HKD 36,774,000 from HKD 44,802,000, a decline of 18% compared to the previous year[7] - Employee benefits expenses decreased by approximately HKD 1.9 million or 14.4% to about HKD 11.5 million for the three months ended June 30, 2022, primarily due to government subsidies under the employment support scheme[28] - Dispatch labor costs increased by approximately HKD 1.3 million or 4.2% to about HKD 31.7 million for the three months ended June 30, 2022, mainly due to rising local labor costs[29] - Depreciation of property, plant, and equipment increased by approximately HKD 0.3 million or 5.4% to about HKD 5.4 million for the three months ended June 30, 2022, in line with increased leasing liabilities[30] - Transportation costs decreased by approximately HKD 8.0 million or 17.9% to about HKD 36.8 million for the three months ended June 30, 2022, despite rising fuel prices[31] - Warehousing operating costs slightly decreased by approximately HKD 0.2 million or 2.7% to about HKD 6.5 million for the three months ended June 30, 2022, benefiting from cost control measures[32] - Other expenses decreased by approximately HKD 0.8 million or 28.6% to about HKD 2.1 million for the three months ended June 30, 2022, mainly due to reduced professional fees[33] - The financing cost remained stable at approximately HKD 0.7 million for the three months ended June 30, 2022, compared to HKD 0.5 million for the same period in 2021[34] Operational Challenges - The tightening of COVID-19 control measures in China has severely impacted the company's operations and business, leading to a reduction in cross-border transportation services[23] - The company continues to focus on cost management strategies to mitigate losses and improve operational efficiency[9] Shareholder and Governance Information - As of June 30, 2022, the major shareholder 3C Holding Limited held approximately 68.8% of the company's issued share capital[40] - The company did not purchase, sell, or redeem any of its listed securities during the three months ended June 30, 2022[44] - No significant acquisitions or disposals were made by the group during the three months ended June 30, 2022[53] - The company did not declare or pay any dividends during the three months ended June 30, 2022[52] - The audit committee has reviewed the unaudited financial results for the three months ended June 30, 2022, and confirmed compliance with applicable accounting standards and GEM listing rules[51] - The company has adopted a code of conduct for securities transactions by directors in accordance with GEM listing rules[47] - There were no known conflicts of interest involving directors or major shareholders during the three months ended June 30, 2022[46] - The company has appointed a compliance advisor effective from September 1, 2020, with no reported interests conflicting with the company[50] - The company has applied the principles of the corporate governance code as per GEM listing rules during the three months ended June 30, 2022[49] - No material events requiring disclosure occurred after the three months ended June 30, 2022[54] - The first quarter report was published on the company's website and complies with GEM listing rules[55] - The board of directors includes both executive and independent non-executive members, ensuring governance and oversight[56] Accounting Standards - The company has adopted all new and revised Hong Kong Financial Reporting Standards effective from April 1, 2022, with no significant impact on accounting policies or financial statements reported[3]

Financial Performance - The company recorded a net loss of approximately HKD 18.3 million for the fiscal year ending March 31, 2022, compared to a net loss of HKD 7.7 million for the previous fiscal year, representing an increase in net loss of 138.96%[8]. - The increase in net loss was primarily attributed to a decrease in revenue during the fourth quarter due to the fifth wave of COVID-19 in Hong Kong and the absence of government subsidies received in the previous fiscal year amounting to approximately HKD 6.4 million[8]. - Despite the challenges posed by COVID-19, the company still achieved overall revenue growth during the fiscal year[9]. - The company's total revenue increased by approximately HKD 34.5 million or 9.1% from HKD 378.4 million for the year ended March 31, 2021, to HKD 412.9 million for the year ended March 31, 2022[17]. - Revenue from warehousing and other value-added services rose by approximately HKD 25.9 million or 23.6% to approximately HKD 135.6 million for the year ended March 31, 2022, compared to approximately HKD 109.7 million for the previous year[17]. - The net profit margin for the fiscal year ending March 31, 2022, was approximately -4.4%, compared to -2.0% in 2021[143]. - The return on equity for the same period was approximately -33.5%, down from -10.6% in 2021[143]. - The net cash generated from operating activities was approximately HKD 10.4 million, a decrease from HKD 14.6 million in 2021[143]. - Cash and cash equivalents stood at approximately HKD 21.7 million, down from HKD 23.7 million in 2021[143]. Operational Developments - The company plans to continue leveraging its warehouse at the Asia Container Logistics Center as a growth engine, providing storage services and value-added services such as X-ray inspection[9]. - The logistics capabilities have been enhanced with the establishment of the air cargo consolidation warehouse at the Wo Hing Logistics Center, allowing the company to offer one-stop logistics services[14]. - The tightening of COVID-19 control measures in mainland China has restricted normal cross-border transportation services, leading to a shift from land transport to sea or air transport for some logistics arrangements[14]. - The company aims to capitalize on the rising demand for small parcel delivery and postal services driven by the e-commerce boom triggered by COVID-19[14]. - The market remains challenging, and it is expected that market sentiment will take a considerable time to fully recover[14]. Employee and Cost Management - Employee benefits expenses increased by approximately HKD 9.5 million or 20.1% to approximately HKD 56.7 million for the year ended March 31, 2022, primarily due to an increase in average wages and additional staffing for warehousing and value-added services[20]. - Transportation costs increased by approximately HKD 15.0 million or 8.6% to approximately HKD 188.5 million for the year ended March 31, 2022, primarily due to increased service fees paid to external transportation service providers[25]. - Warehousing operating costs rose by approximately HKD 5.4 million or 22.3% to approximately HKD 29.6 million for the year ended March 31, 2022, driven by business growth in warehousing and other value-added services[26]. - Depreciation of property, plant, and equipment increased by approximately HKD 3.1 million or 18.2% to approximately HKD 20.1 million for the year ended March 31, 2022, due to increased depreciation from new office and forklift usage rights[24]. Governance and Management - 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[77]. - The company has complied with all corporate governance code provisions during the reporting period, demonstrating adherence to GEM listing rules[74]. - A total of five board meetings were held during the year ending March 31, 2022, with full attendance from executive and non-executive directors[80]. - The company has a strong management team with over 27 years of experience in the logistics industry, enhancing operational oversight and employee training[69]. - The company has appointed at least three independent non-executive directors, exceeding one-third of the board, to ensure independence and proper governance[77]. - The audit committee, nomination committee, and remuneration committee have been established to oversee specific areas of governance[74]. - The company has maintained a robust internal control system, which is crucial for balancing the interests of shareholders, customers, and employees[74]. - The management team is responsible for daily operations and logistics arrangements in both Hong Kong and China, reflecting a strong operational focus[70]. Shareholder and Financial Policies - The board does not intend to declare a final dividend for the year ended March 31, 2022, consistent with the previous year[49]. - The company has adopted a dividend policy to guide the board in determining whether to declare and pay dividends, considering the group's actual and expected financial performance[108]. - The board has the discretion to determine the declaration and payment of dividends, with no predetermined dividend payout ratio established[110]. - The company retains the right to review and amend the dividend policy at any time without creating a binding commitment to pay dividends[110]. - The external auditor's fee for audit services for the year ended March 31, 2022, was approximately HKD 630,000, with no non-audit services provided[113]. - The company has established a shareholder communication policy to enhance effective communication with shareholders and potential investors, which was deemed satisfactory for the year ended March 31, 2022[125]. Risk Management and Compliance - The board of directors is responsible for maintaining effective risk management and internal control systems, which were reviewed and deemed adequate for the year ended March 31, 2022[115]. - The company has confirmed compliance with non-competition agreements by its controlling shareholders since the listing date[186]. - The independent non-executive directors confirmed their independence in accordance with GEM Listing Rules[174]. - The company has not established any arrangements that would allow directors to benefit from purchasing shares or debt securities of the company[181]. - The company has appointed a compliance advisor, Zhi Fu Financing Limited, effective from September 1, 2020[190]. Corporate Social Responsibility - Charitable donations made during the fiscal year amounted to HKD 380,000, an increase from HKD 150,000 in 2021[150]. - The company has implemented green office practices to reduce energy and natural resource consumption, including the use of energy-saving lighting and eco-friendly paper[199].

Revenue Performance - Revenue for the three months ended December 31, 2021, was HKD 113,903,000, an increase of 4% compared to HKD 109,102,000 for the same period in 2020[6] - Revenue for the nine months ended December 31, 2021, reached HKD 331,410,000, representing a 17.7% increase from HKD 281,537,000 in the previous year[6] - For the nine months ended December 31, 2021, total revenue reached HKD 331,410,000, an increase of 17.7% compared to HKD 281,537,000 for the same period in 2020[16] - Total revenue increased by approximately HKD 49.9 million or 17.7% to about HKD 331.4 million for the nine months ended December 31, 2021, compared to approximately HKD 281.5 million for the same period in 2020[30] Profit and Loss - The company reported a net profit of HKD 348,000 for the three months ended December 31, 2021, compared to a profit of HKD 2,902,000 in the same period of 2020, indicating a significant decline[7] - For the nine months ended December 31, 2021, the company recorded a net loss of HKD 119,000, compared to a loss of HKD 678,000 in the previous year[7] - The company reported a net loss of HKD 119,000 for the nine months ended December 31, 2021, compared to a loss of HKD 678,000 in the same period of 2020[23] - Basic earnings per share for the nine months ended December 31, 2021, was a loss of HKD 0.000248, compared to a loss of HKD 0.00143 for the same period in 2020[23] - Net loss decreased by approximately HKD 8.1 million or 98.5% to about HKD 0.1 million for the nine months ended December 31, 2021, compared to a loss of approximately HKD 8.2 million for the same period in 2020[43] Expenses - Employee benefit expenses increased to HKD 40,470,000 for the nine months ended December 31, 2021, up from HKD 32,042,000 in the same period of 2020, reflecting a 26.5% rise[6] - Employee benefit expenses increased by approximately HKD 8.4 million or 26.3% to about HKD 40.5 million for the nine months ended December 31, 2021, compared to approximately HKD 32.0 million for the same period in 2020[34] - The company incurred transportation costs of HKD 154,524,000 for the nine months ended December 31, 2021, compared to HKD 130,648,000 in the previous year, marking an increase of 18.2%[6] - Transportation costs rose by approximately HKD 23.9 million or 18.3% to about HKD 154.5 million for the nine months ended December 31, 2021, compared to approximately HKD 130.6 million for the same period in 2020[38] Revenue by Segment - Air cargo station operation services generated revenue of HKD 75,933,000 for the nine months ended December 31, 2021, slightly up from HKD 75,254,000 in 2020[16] - Transportation services revenue decreased to HKD 92,233,000 for the nine months ended December 31, 2021, compared to HKD 86,881,000 in 2020, reflecting a decline of 6.5%[16] - Warehousing and other value-added services saw significant growth, with revenue increasing to HKD 111,148,000 for the nine months ended December 31, 2021, up from HKD 72,558,000 in 2020, representing a growth of 53.0%[16] - Revenue from warehousing and other value-added services rose by approximately HKD 38.6 million or 53.2% to about HKD 111.1 million for the nine months ended December 31, 2021, compared to approximately HKD 72.6 million for the same period in 2020[30] Comprehensive Income - Other comprehensive income for the three months ended December 31, 2021, included a foreign exchange gain of HKD 883,000, compared to no gain in the same period of 2020[7] - The total comprehensive income for the nine months ended December 31, 2021, was HKD 765,000, compared to a total comprehensive loss of HKD 675,000 in the previous year[7] Future Plans and Strategies - The company plans to continue expanding its market presence and investing in new technologies to enhance operational efficiency and service offerings[6] - The company plans to continue observing the development of the COVID-19 pandemic and seek higher-margin business opportunities while implementing prudent cost control measures[28] - The company aims to enhance its competitiveness in the logistics industry through the utilization of existing industry knowledge and strategic cost management[28] Shareholder Information - The company’s major shareholder is 3C Holding Limited, which is owned by Mr. Chan Lit Pong and Mr. Chan Yu, holding 95% and 5% respectively[10] - The company holds 68.8% of its shares through 3C Holding Limited, which is controlled by Mr. Chan Lit Pong[45] - Mr. Choi Wing Hang holds 6.2% of the shares through Kin Cheng Limited, which he fully owns[45] Corporate Governance - The company has complied with all applicable corporate governance codes as of December 31, 2021[54] - The audit committee has reviewed the unaudited financial results for the nine months ended December 31, 2021, and confirmed compliance with applicable accounting standards and GEM listing rules[57] Dividends and Securities - No dividends were declared or proposed for the nine months ended December 31, 2021, consistent with the previous year[25] - No dividends were declared or paid by the company or any of its subsidiaries for the nine months ended December 31, 2021[58] - The company has not purchased, sold, or redeemed any of its listed securities during the nine months ending December 31, 2021[50] - The company has adopted a share option scheme as of March 27, 2020, but no options have been granted or exercised as of the report date[49] Utilization of Proceeds - The net proceeds from the listing amount to approximately HKD 17.8 million after deducting underwriting commissions and other estimated expenses[44] - As of December 31, 2021, the total amount utilized from the net proceeds is HKD 7.808 million, leaving an unutilized amount of HKD 1.123 million[44] - The company plans to fully utilize the unutilized net proceeds by March 31, 2022[44] - The company has allocated funds for expanding and upgrading its transportation fleet, with HKD 2.988 million utilized out of HKD 3.325 million allocated[44] Events and Compliance - There were no significant acquisitions or disposals of subsidiaries or associates during the nine months ended December 31, 2021[59] - The board is not aware of any significant events that require disclosure after December 31, 2021, up to the date of this report[61] - The third quarter report is available on the company's website and complies with all GEM listing rule requirements[62]

Financial Performance - Revenue for the six months ended September 30, 2021, was HKD 217,507,000, representing an increase of 26.2% compared to HKD 172,435,000 for the same period in 2020[10] - The company reported a net profit of HKD 844,000 for the six months ended September 30, 2021, compared to a net loss of HKD 3,580,000 for the same period in 2020[10] - The company reported a basic earnings per share of HKD 0.18 for the six months ended September 30, 2021, compared to a loss per share of HKD 0.76 for the same period in 2020[10] - For the six months ended September 30, 2021, total revenue reached HKD 217,507,000, a 26.1% increase from HKD 172,435,000 in the same period of 2020[27] - The company reported a loss of HKD 467,000 for the six months ended September 30, 2021, compared to a loss of HKD 3,580,000 in the same period of 2020[16] - The company reported a net loss of HKD 468,000 for the six months ended September 30, 2021, compared to a net loss of HKD 3,580,000 for the same period in 2020[42] - Net loss decreased to approximately HKD 0.5 million for the six months ended September 30, 2021, from a net loss of approximately HKD 3.6 million for the same period in 2020[75] Revenue Breakdown - Revenue from Hong Kong for the six months ended September 30, 2021, was HKD 212,630,000, up 31.5% from HKD 161,675,000 in 2020[31] - Revenue from China for the six months ended September 30, 2021, was HKD 4,877,000, a decrease of 54.6% from HKD 10,760,000 in 2020[31] - The logistics services segment generated revenue of HKD 60,418,000 for transportation services, up from HKD 53,606,000 in the previous year, reflecting a growth of 10.6%[27] - The warehousing and other value-added services segment saw revenue increase to HKD 71,977,000, a significant rise from HKD 38,685,000, marking an increase of 86.1%[27] - Revenue from warehousing and other value-added services rose by approximately HKD 33.3 million or 86.1% to about HKD 72.0 million for the six months ended September 30, 2021, compared to approximately HKD 38.7 million for the same period in 2020[62] Expenses and Costs - Employee benefit expenses increased to HKD 26,656,000, up 26.5% from HKD 21,059,000 in the previous year[10] - Total employee costs for the six months ended September 30, 2021, were HKD 26,836,000, an increase of 27.5% from HKD 21,059,000 in 2020[39] - Transportation costs rose to HKD 98,746,000, an increase of 24.1% from HKD 79,554,000 in the same period last year[10] - Transportation costs rose by approximately HKD 19.2 million or 24.1% to about HKD 98.7 million for the six months ended September 30, 2021, compared to approximately HKD 79.6 million for the same period in 2020[71] Assets and Liabilities - Trade and other receivables as of September 30, 2021, amounted to HKD 79,432,000, up from HKD 74,207,000 as of March 31, 2021[12] - The company's total assets as of September 30, 2021, were HKD 209,011,000, compared to HKD 192,357,000 as of March 31, 2021[12] - The company’s cash and cash equivalents increased to HKD 29,581,000 from HKD 23,684,000 as of March 31, 2021[12] - Non-current liabilities decreased to HKD 20,018,000 as of September 30, 2021, down from HKD 22,921,000 as of March 31, 2021[13] - The company's total equity as of September 30, 2021, was HKD 72,347,000, slightly down from HKD 72,624,000 as of March 31, 2021[13] - The total amount of bank loans increased to HKD 52,500,000 as of September 30, 2021, compared to HKD 34,000,000 as of March 31, 2021, reflecting a growth of 54.4%[53] - The asset-liability ratio increased to approximately 110.9% as of September 30, 2021, from approximately 96.9% as of March 31, 2021, primarily due to increased bank borrowings[79] Cash Flow - The operating cash flow for the six months ended September 30, 2021, was HKD 11,121,000, compared to a cash outflow of HKD 16,219,000 in the previous year[18] - The net cash and cash equivalents at the end of the period increased to HKD 29,581,000 from HKD 25,969,000 year-over-year[18] - The financing activities generated a net cash inflow of HKD 9,795,000 for the six months ended September 30, 2021, compared to HKD 32,575,000 in the previous year[18] Corporate Governance - The company has complied with all provisions of the corporate governance code during the reporting period[111] - The board of directors is composed of experienced individuals, including three independent non-executive directors, ensuring a balance of power and responsibility[111] - The audit committee, established on March 23, 2020, reviewed the unaudited consolidated financial statements for the six months ended September 30, 2021[114] Future Plans and Developments - The company plans to continue expanding its logistics services and exploring new market opportunities in the upcoming periods[10] - The company aims to explore higher-margin business opportunities while maintaining prudent cost control measures to enhance competitiveness in the logistics sector[61] - The company has enhanced its logistics capabilities with new warehouses at the Hong Kong logistics hub, responding to strong demand for cargo security services[61] - The company secured new contracts with a major client for the next three years, enhancing its role in the logistics industry[61] Shareholder Information - The board of directors holds significant shares, with Mr. Chan holding approximately 68.8% and Mr. Choi holding approximately 6.2% of the issued share capital[98] - 3C Holding Limited holds 330,120,000 shares, representing approximately 68.8% of the company's issued share capital[101] - Kwan Cheng Limited owns about 6.2% of the company's total issued share capital, equating to 29,880,000 shares[101] - No share options have been granted under the company's share option scheme since its adoption[104] Miscellaneous - The company did not declare any dividends for the six months ended September 30, 2021[40] - The group did not incur any significant capital commitments as of September 30, 2021, compared to approximately HKD 0.6 million for the purchase of transportation fleet as of March 31, 2021[86] - The group has purchased 11 heavy-duty trucks to meet operational needs, falling short of the target of 18 vehicles as outlined in the prospectus[92] - The group has recruited 32 operators to expand its warehousing operations, exceeding the target of 12 operators[92] - The group has invested in multiple IT systems, including logistics order management and warehouse management systems, all of which are operational or in trial phases[92] - The unutilized net proceeds as of September 30, 2021, were deposited in interest-bearing accounts at licensed banks in Hong Kong[94] - No significant events requiring disclosure occurred after September 30, 2021, up to the report date[115] - The mid-term report is available on the company's website and complies with GEM listing rules[116]

Financial Performance - Revenue for the three months ended June 30, 2021, was HKD 102,046,000, representing a 27.5% increase from HKD 80,005,000 in the same period of 2020[6] - The company reported a loss before tax of HKD 1,311,000 for the quarter, an improvement from a loss of HKD 1,908,000 in the previous year, indicating a reduction in losses by approximately 31.3%[6] - The company recorded a total comprehensive loss of HKD 1,056,000 for the quarter, compared to HKD 1,907,000 in the same period last year, showing a decrease in comprehensive losses by 44.7%[6] - The basic loss per share improved to HKD 0.27 from HKD 0.41, indicating a 34.1% reduction in loss per share[6] - The net loss for the three months ended June 30, 2021, was approximately HKD 1.3 million, a decrease from a net loss of approximately HKD 1.9 million for the same period in 2020[38] Revenue Sources - Revenue from warehousing and other value-added services rose by approximately HKD 18.2 million or 128.4% to approximately HKD 32.3 million, driven by the operational expansion of the air cargo container warehouse and new warehouse at the Asia Container Logistics Center[25] - Total revenue for the three months ended June 30, 2021, increased by approximately HKD 22.0 million or 27.5% to approximately HKD 102.0 million compared to HKD 80.0 million for the same period in 2020[25] Cost Management - Employee benefit expenses increased to HKD 13,460,000, up from HKD 9,746,000, reflecting a rise of 38.0% year-on-year[6] - Transportation costs rose to HKD 44,802,000, compared to HKD 36,109,000 in the previous year, marking an increase of 24.2%[6] - The financial report indicates that the company is actively managing its costs, particularly in labor and transportation, to improve overall financial performance[6] - Dispatch labor costs rose by approximately HKD 2.3 million or 8.1% to about HKD 30.4 million for the three months ended June 30, 2021, from approximately HKD 28.2 million for the same period in 2020[30] - Depreciation of property, plant, and equipment increased by approximately HKD 1.6 million or 43.2% to about HKD 5.1 million for the three months ended June 30, 2021, compared to approximately HKD 3.6 million for the same period in 2020[31] - Warehousing operating costs surged by approximately HKD 3.1 million or 83.6% to about HKD 6.7 million for the three months ended June 30, 2021, compared to approximately HKD 3.6 million for the same period in 2020[33] - Other expenses increased by approximately HKD 1.0 million or 54.0% to about HKD 2.9 million for the three months ended June 30, 2021, from approximately HKD 1.9 million for the same period in 2020[35] Equity and Shareholder Information - The company’s total equity as of June 30, 2021, was HKD 71,568,000, a decrease from HKD 77,891,000 at the end of the previous period[7] - As of June 30, 2021, Mr. Chan had a 68.8% stake in the company, while Mr. Choi held a 6.2% stake[42] - 3C Holding Limited holds 330,120,000 shares, representing approximately 68.8% of the company's issued share capital[44] - The weighted average number of ordinary shares used to calculate basic loss per share increased to 480,000,000 in 2021 from 460,219,780 in 2020[19] Business Strategy and Opportunities - The company aims to expand its air cargo station operations and logistics services in Hong Kong and China, focusing on enhancing value-added services[9] - The company continues to seek new business opportunities and has signed a new contract with a major client for the next three years, enhancing its role in the logistics industry[23] - The company is focused on expanding its core strengths and exploring higher-margin business opportunities while maintaining prudent cost control measures[23] Compliance and Governance - The audit committee reviewed the unaudited financial results for the three months ended June 30, 2021, and confirmed compliance with applicable accounting standards[54] - The company confirmed adherence to the corporate governance code as per GEM Listing Rules during the reporting period[50] - The company has adopted all new and revised Hong Kong Financial Reporting Standards effective from April 1, 2021, with no significant impact on its accounting policies or financial statements[13] Other Information - No dividends were declared or proposed for the three months ended June 30, 2021, consistent with the previous year[21] - The company did not grant, lapse, exercise, or cancel any share options under the share option scheme as of the report date[45] - No significant contracts involving directors and the company or its subsidiaries were reported during the three months ended June 30, 2021[47] - There were no significant acquisitions or disposals of subsidiaries or associates during the three months ended June 30, 2021[56] - The company did not purchase, sell, or redeem any of its listed securities during the three months ended June 30, 2021[46] - The company has appointed a new compliance advisor effective September 1, 2020, following the termination of the previous advisor[51] - No major events requiring disclosure occurred after June 30, 2021, up to the report date[57] - Other income decreased by approximately HKD 1.1 million or 63.9% to approximately HKD 0.6 million for the three months ended June 30, 2021, primarily due to the absence of one-time subsidies related to COVID-19[26]