Financial Performance - Wan Leader International Limited reported unaudited condensed consolidated financial results for the nine months ended December 31, 2018[16]. - Revenue for the three months ended December 31, 2018, was HK$68,554,000, a decrease of 1.3% compared to HK$69,445,000 in the same period of 2017[18]. - Gross profit for the nine months ended December 31, 2018, was HK$21,908,000, down 31.2% from HK$31,879,000 in the previous year[18]. - The company reported a loss before taxation of HK$3,142,000 for the three months ended December 31, 2018, compared to a profit of HK$4,392,000 in the same period of 2017[18]. - Loss attributable to equity holders for the nine months ended December 31, 2018, was HK$12,141,000, compared to a profit of HK$7,358,000 in the same period of 2017[19]. - Basic loss per share for the three months ended December 31, 2018, was HK$0.37, compared to earnings of HK$0.51 in the same period of 2017[18]. - The total equity attributable to owners of the company as of December 31, 2018, was HK$73,070,000, an increase from HK$24,631,000 as of December 31, 2017[19]. - The company recognized a dividend distribution of HK$17,500,000 during the nine months ended December 31, 2018[19]. - The Group reported external sales of HK$134,473,000 from freight forwarding and HK$18,732,000 from warehousing, totaling HK$153,205,000[38]. - The segment revenue for the same period was HK$157,037,000, after inter-segment eliminations, with a loss before taxation of HK$11,272,000[38]. - The Group's gross profit decreased by approximately 31.3% from approximately HK$31.9 million for the Previous Period to approximately HK$21.9 million for the Review Period, with a gross profit margin decline from approximately 20.8% to 14.3%[75]. - The Group recorded a loss before tax of approximately HK$11.3 million for the Review Period, compared to a profit of approximately HK$11.1 million for the Previous Period, largely due to one-off listing expenses of approximately HK$9.5 million[88]. Operational Highlights - The company operates under the GEM of the Stock Exchange, which is designed for small and mid-sized companies, implying higher investment risks[1]. - The Group's operations are primarily focused on freight forwarding and related logistics services, as well as warehousing and related value-added services[27]. - Revenue from air freight forwarding and related logistics services increased to approximately HK$121.0 million, accounting for approximately 79.0% of total revenue, compared to approximately HK$119.2 million and 77.5% in the previous period[69]. - Revenue from sea freight forwarding and related logistics services decreased slightly to approximately HK$13.5 million, representing approximately 8.8% of total revenue, down from approximately HK$13.8 million and 9.0% in the previous period[70]. - Revenue from warehousing and related value-added services decreased to approximately HK$18.7 million, accounting for approximately 12.2% of total revenue, compared to approximately HK$20.7 million and 13.5% in the previous period[71]. - The Group successfully established arrangements to directly transact with two airlines, allowing for diversification of cargo routes and expansion of the customer base starting January 2019[59]. - The logistics industry faced challenges due to trade disputes between the U.S. and China, leading to reduced orders from some major customers[62]. - Management remains optimistic about the core business, believing there is a market for quality freight forwarding and warehousing services in Hong Kong[64]. - The Group plans to strengthen sales and marketing efforts, monitor customer needs, and control service costs to achieve sustainable growth[64]. Compliance and Governance - The board of directors collectively accepts full responsibility for the accuracy and completeness of the report[4]. - The company has a compliance adviser, Huabang Corporate Finance Limited, ensuring adherence to regulations[12]. - The financial statements are prepared in accordance with Hong Kong Financial Reporting Standards and applicable GEM Listing Rules[29]. - The company has adhered to the corporate governance code as stipulated in the GEM Listing Rules since its listing date[99]. - The Audit Committee, consisting of three independent non-executive Directors, has reviewed the unaudited consolidated results for the Review Period[124][127]. Shareholder Information - The company did not recommend the payment of an interim dividend for the nine months ended December 31, 2018[48]. - As of December 31, 2018, Mr. Loy Hak Yu Thomas and Mr. Loy Hak Moon each held 481,101,600 shares, representing approximately 57.28% of the company's total shareholding[106]. - Major shareholders Ho Tat Limited and Yo Tat Limited each hold 481,101,600 shares, representing approximately 57.28% of the total shareholding[115]. - The Company adopted a Share Option Scheme on August 14, 2018, aimed at incentivizing key staff, but no options have been granted or exercised as of December 31, 2018[118][119]. - The company has not purchased, sold, or redeemed any of its listed securities from the Listing Date up to December 31, 2018[102]. - No interests or short positions in shares, underlying shares, or debentures of the company were reported by Directors or the Chief Executive as of December 31, 2018[109]. Expenses and Costs - Central administrative expenses amounted to HK$3,348,000, and listing expenses were HK$9,513,000, contributing to the overall loss[38]. - Listing expenses for the nine months ended December 31, 2018, totaled HK$9,513,000, compared to HK$7,229,000 in the previous year[46]. - Depreciation of property, plant, and equipment for the nine months ended December 31, 2018, was HK$937,000, an increase from HK$774,000 in 2017[46]. - The Group's cost of services increased by approximately 7.8% to approximately HK$131.3 million from approximately HK$121.8 million in the previous period, primarily due to higher rental and management fees for the Hutchison Logistics Centre Warehouse[74]. - Administrative and operating expenses rose to approximately HK$18.7 million from approximately HK$10.8 million, mainly due to increased staff costs from approximately HK$6.1 million to approximately HK$11.2 million[81]. - Finance costs increased from HK$104,000 to HK$154,000, mainly due to additional interest charges of approximately HK$80,000 for early repayment of bank borrowings[86]. Management and Staff - The management team and all staff were thanked for their ongoing contributions[130]. - The executive Directors include Mr. LOY Hak Yu Thomas, Mr. LOY Hak Moon, and Mr. LO Wing Sang[131]. - Independent non-executive Directors are Mr. NG Kam Tsun, Dr. WU Ka Chee Davy, and Dr. CHOW Ho Wan Owen[131].
万励达(08482) - 2019 Q3 - 季度财报