Financial Performance - Wan Leader International Limited reported unaudited condensed consolidated financial results for the three months ended June 30, 2021, with comparative figures for the same period in 2020[20]. - Revenue for the three months ended June 30, 2021, was HK$129,888,000, representing a 76% increase from HK$73,744,000 in the same period of 2020[22]. - Gross profit for the same period was HK$11,786,000, up 29% from HK$9,148,000 year-over-year[22]. - Profit before taxation increased to HK$3,980,000, a 16.5% rise compared to HK$3,415,000 in the previous year[22]. - Profit for the period from continuing operations was HK$3,312,000, slightly down from HK$3,491,000 in 2020[22]. - Total comprehensive income for the period was HK$2,872,000, down from HK$4,742,000 in the same quarter of 2020[24]. - Earnings per share from continuing operations was HK$0.40, compared to HK$0.43 in the previous year[24]. - The company recognized impairment losses on trade receivables of HK$570,000, significantly higher than HK$25,000 in the same period last year[22]. - Sales and marketing expenses increased to HK$1,446,000, up from HK$817,000 in 2020, indicating a focus on market expansion[22]. - Other income decreased to HK$76,000 from HK$540,000 year-over-year, reflecting a decline in non-operational revenue sources[22]. - The group reported a current tax expense of HK$825,000 for the period, with no deferred tax provision for the previous year[55]. - The group incurred total finance costs of HK$49,000, an increase from HK$28,000 in the prior year[64]. - The group reported a gain on disposal of subsidiaries amounting to HK$850,000 during the period[64]. - The profit for the period attributable to owners of the Company was HK$3,321,000 for the review period, down from HK$4,624,000 in the previous period[71]. - The Group's total revenue increased by approximately 76.3%, from approximately HK$73.7 million in the previous period to approximately HK$129.9 million in the review period[90]. Revenue Breakdown - For the three months ended June 30, 2021, the Group's revenue from freight forwarding and related logistics services was HK$129,888,000, a significant increase from HK$73,744,000 in the same period of 2020, representing an increase of 76.2%[49]. - Air freight revenue for the same period was HK$106,151,000, up from HK$70,051,000, reflecting a growth of 51.5% year-over-year[49]. - Sea freight revenue increased to HK$23,737,000 from HK$3,693,000, marking a substantial increase of 541.5% compared to the previous year[49]. - Revenue from Hong Kong increased significantly to HK$117,821,000, up 105% from HK$57,500,000 in 2020[53]. - Revenue from Taiwan decreased slightly to HK$12,062,000, down 13% from HK$13,949,000 in 2020[53]. - Revenue from air freight forwarding and related logistics services amounted to approximately HK$106.2 million, accounting for approximately 81.8% of total revenue, compared to 95.0% in the previous period[93]. - Revenue from sea freight forwarding and related logistics services increased significantly to approximately HK$23.7 million, representing approximately 18.2% of total revenue, up from 5.0% in the previous period[94]. Corporate Governance and Compliance - The Board of Directors confirmed that the information in the report is accurate and complete in all material respects, ensuring transparency for investors[6]. - The Company is committed to compliance with the GEM Listing Rules, reflecting its dedication to regulatory standards[6]. - The Company will continue to enhance its corporate governance standards to comply with tightening regulatory requirements and meet rising shareholder expectations[125]. - The Company adopted the Required Standard of Dealings for Directors, confirming compliance throughout the Review Period[130]. - The Company complied with the Corporate Governance Code provisions during the Review Period from April 1, 2021, to June 30, 2021, except for deviation from code provision A.2.1[123]. - The Audit Committee consists of three independent non-executive Directors, with Mr. Ho Yuk Ming Hugo serving as the chairman, responsible for overseeing the integrity of the company's financial statements[166]. - The Audit Committee has reviewed the unaudited consolidated results of the Group for the review period[170]. Management and Board Changes - The Company has undergone changes in its Board of Directors, with new appointments and resignations noted, which may impact governance and strategic direction[11][12]. - The roles of chairman and chief executive officer were separated on August 20, 2021, with Mr. Liao Daichun appointed as the chief executive director[124]. - Mr. Lo Wing Sang resigned as company secretary and authorized representative on May 28, 2021[164]. - Mr. Chow Ming Po Aaron was appointed as an independent non-executive director of Grand Brilliance Group Holdings Limited on June 18, 2021[164]. - Mr. Ho Yuk Ming Hugo retired as an independent non-executive director of Wuxi Sunlit Science and Technology Company Limited effective June 18, 2021[165]. Market Outlook - The Group anticipates continued growth in air freight forwarding and related logistics services, driven by consolidation and co-loading of air cargo space[81]. - The management is cautiously optimistic about the future freight forwarding market in Hong Kong, expecting strong demand for air cargo services as economies recover post-pandemic[85]. - The Group aims to expand existing cargo arrangements by entering into more block space agreements with suppliers[87]. Shareholding and Securities - Mr. Thomas Loy held a long position of 253,302,000 shares, representing approximately 30.16% of the Company's issued share capital as of June 30, 2021[139]. - Mr. Liao Daichun, as a beneficial owner, held 182,690,000 shares, which is about 21.75% of the Company's issued share capital[139]. - The Company did not purchase, sell, or redeem any of its listed securities from April 1, 2021, to June 30, 2021[132]. - No competing business was reported by Directors or controlling shareholders during the Review Period[131]. - The Company adopted a Share Option Scheme on August 14, 2018, aimed at incentivizing key staff[157]. - There were no outstanding share options under the Share Option Scheme as of June 30, 2021[158]. - The company has not entered into any arrangements enabling directors to acquire benefits through share acquisition during the review period[151]. - The compliance adviser, Glory Sun Securities Limited, has no interests in the Group other than the compliance adviser agreement dated May 30, 2019[159]. - No other parties, apart from the directors and chief executive, have registered interests or short positions in the shares of the company as of June 30, 2021[156].
万励达(08482) - 2022 Q1 - 季度财报