Financial Performance - The unaudited condensed consolidated financial results for the nine months ended December 31, 2020, were presented, comparing with the corresponding period in 2019 [20]. - The Group's performance during the review period showed significant financial metrics, although specific figures were not detailed in the provided content [21]. - Revenue for the three months ended December 31, 2020, was HK$109,972,000, representing a 72.5% increase from HK$63,755,000 in the same period of 2019 [22]. - Gross profit for the nine months ended December 31, 2020, was HK$27,442,000, up 128.1% from HK$12,029,000 in the previous year [22]. - The company reported a profit of HK$4,319,000 for the nine months ended December 31, 2020, compared to a loss of HK$15,866,000 in the same period of 2019 [22]. - Total comprehensive income for the nine months ended December 31, 2020, was HK$5,250,000, compared to a total comprehensive loss of HK$15,834,000 in the previous year [24]. - The Group's total revenue increased by approximately 74.9% to approximately HK$274.6 million for the nine months ended 31 December 2020, compared to approximately HK$157.0 million in the previous period [77]. - Gross profit increased by approximately 128.3% from approximately HK$12.0 million in the Previous Period to approximately HK$27.4 million in the Review Period [96]. Compliance and Governance - The Board of Directors confirmed the accuracy and completeness of the information contained in the report, ensuring no misleading statements were present [6]. - The Company has a commitment to compliance and governance, as indicated by the structured board committees and their responsibilities [12]. - The Group operates under the GEM Listing Rules, which are designed to provide transparency and governance for investors [6]. - All directors confirmed compliance with the trading standards during the review period [135]. Risk Factors - The report emphasizes the importance of understanding the investment risks associated with small and mid-sized companies listed on GEM [3]. - The report highlights the potential for high market volatility in securities traded on GEM, which may affect investor decisions [4]. Segment Information - The Group's operating segments are focused on freight forwarding and related logistics services, and warehousing and related value-added services, with no analysis of segment assets and liabilities provided [45]. - For the nine months ended December 31, 2020, the Group reported total revenue of HK$274,563,000, with external sales from freight forwarding services contributing HK$241,504,000 and warehousing services contributing HK$33,059,000 [49]. - The segment results for freight forwarding and related logistics services were HK$4,757,000, while warehousing and related value-added services generated segment results of HK$2,665,000, leading to a total segment result of HK$7,422,000 [49]. Shareholder Information - As of December 31, 2020, Mr. Thomas Loy holds a long position of 421,302,000 shares, representing approximately 50.16% of the company's issued share capital [138]. - Ho Tat Limited, wholly owned by Mr. Thomas Loy, also holds 421,302,000 shares, indicating a beneficial ownership of 50.16% [138]. - Mr. Liao Daichun is a beneficial owner of 68,440,000 shares, which accounts for approximately 8.15% of the company's shareholding [148]. Taxation - The Hong Kong profits tax for the current period was calculated at 8.25% on the first HK$2 million of profits, with a flat rate of 16.5% on profits exceeding that amount [58]. - The tax rate for the PRC subsidiary was 25% for the nine months ended December 31, 2020 [58]. - The Group recorded a deferred tax credit of HK$210,000 for the nine months ended December 31, 2020, compared to a deferred tax expense of HK$729,000 in the previous year [57]. Administrative Expenses - Administrative expenses decreased to HK$22,335,000 for the nine months ended December 31, 2020, from HK$23,751,000 in the previous year, reflecting a reduction of 6.0% [22]. - Administrative expenses decreased slightly to approximately HK$22.3 million from approximately HK$23.8 million in the Previous Period, mainly due to a reduction in legal and compliance costs [107]. Future Outlook - The management is cautious yet optimistic about future business and development, implementing cost-control measures and exploring collaboration opportunities [83]. - The Group anticipates fluctuations in air cargo space costs due to increased competition and limited supply, avoiding long-term commitments with customers [84].
万励达(08482) - 2021 Q3 - 季度财报