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裕程物流(08489) - 2021 Q1 - 季度财报
GP LOGISTICSGP LOGISTICS(HK:08489)2021-05-13 08:46

Financial Performance - The group's revenue for the first quarter of 2021 was approximately HKD 137.1 million, an increase of about 22.2% compared to HKD 112.2 million in the first quarter of 2020[10]. - The profit attributable to the company's owners for the first quarter of 2021 was approximately HKD 8.3 million, compared to HKD 2.3 million in the first quarter of 2020[10]. - Basic and diluted earnings per share for the first quarter of 2021 were approximately HKD 0.0285, up from HKD 0.0102 in the first quarter of 2020[10]. - The gross profit for the first quarter of 2021 was HKD 16.9 million, compared to HKD 11.3 million in the first quarter of 2020, reflecting a significant improvement in profitability[11]. - Total comprehensive income for the first quarter of 2021 was HKD 8.2 million, compared to HKD 1.8 million in the first quarter of 2020[11]. - The company recorded a net profit of HKD 8,253,000 for the period, after accounting for income tax expenses of HKD 1,709,000[23]. - The profit before tax increased by approximately HKD 6,900,000 or about 222.6% to approximately HKD 10,000,000 in Q1 2021, compared to approximately HKD 3,100,000 in Q1 2020[59]. - The profit after tax increased by approximately HKD 6,000,000 or about 260.9% to approximately HKD 8,300,000 in Q1 2021, compared to approximately HKD 2,300,000 in Q1 2020[59]. Revenue Breakdown - Air freight forwarding services generated revenue of HKD 131,703,000, up from HKD 102,198,000, reflecting a growth of 29.0% year-over-year[19]. - Sea freight forwarding services revenue decreased to HKD 5,377,000 from HKD 10,012,000, a decline of 46.3% compared to the previous year[19]. - Air freight forwarding services generated revenue of HKD 131,703,000, accounting for 96.1% of total revenue, while sea freight forwarding services contributed HKD 5,377,000, representing 3.9%[46]. - The revenue from the air cargo transshipment segment increased by approximately HKD 29,500,000 or about 28.9% to approximately HKD 131,700,000 in Q1 2021, compared to approximately HKD 102,200,000 in Q1 2020[47]. - The revenue from the sea cargo transshipment segment decreased by approximately HKD 4,600,000 or about 46.0% to approximately HKD 5,400,000 in Q1 2021, compared to approximately HKD 10,000,000 in Q1 2020[49]. Expenses and Costs - The group's administrative and other operating expenses for the first quarter of 2021 were HKD 7.3 million, slightly higher than HKD 7.0 million in the first quarter of 2020[11]. - The company’s administrative and other operating expenses amounted to HKD 7,290,000 during the reporting period[23]. - The service costs increased by approximately HKD 19,200,000 or about 19.0% to approximately HKD 120,100,000 in Q1 2021, compared to approximately HKD 100,900,000 in Q1 2020[50]. - The financing costs for the first quarter of 2021 decreased to HKD 468,000 from HKD 668,000 in the first quarter of 2020, indicating improved cost management[11]. - The financing costs decreased by approximately HKD 200,000 or about 28.6% to approximately HKD 500,000 in Q1 2021, compared to approximately HKD 700,000 in Q1 2020[56]. Corporate Governance and Compliance - The company is committed to maintaining transparency and accuracy in its financial reporting, as confirmed by the board of directors[2]. - The audit committee reviewed the unaudited consolidated financial statements for the first quarter of 2021, confirming adherence to applicable accounting standards and GEM listing rules[100]. - The company has adopted a code of conduct for securities transactions, ensuring compliance among all directors and employees[96]. - The company has complied with the corporate governance code, with no significant deviations reported[91]. - The board will regularly review the necessity of separating the roles of Chairman and CEO to maintain good corporate governance[94]. Future Plans and Market Strategy - The group plans to continue expanding its market presence and enhancing its service offerings in the logistics sector[10]. - The group plans to strengthen its market position in Hong Kong and China by purchasing more cargo space and establishing a new office in China to reach potential customers[72]. - The group aims to improve its cargo space acquisition capabilities through closer cooperation with airlines[72]. - The group will closely monitor the impact of COVID-19 on its financial performance and operations, taking necessary measures as required[73]. Shareholder Information - Major shareholders Profit and Peak each hold 112,500,000 shares, representing 37.5% ownership each[86]. - The company did not declare or pay any dividends during the reporting period[40]. - No dividends were recommended for Q1 2021, consistent with the previous year[76]. - The company has not engaged in any share buybacks or sales since its listing[75]. Employee Information - The group had 40 full-time employees as of March 31, 2021, down from 42 a year earlier, with total employee costs of approximately HKD 2.7 million in Q1 2021 compared to HKD 3.8 million in Q1 2020[69]. - The company has implemented a stock option plan to incentivize employees and directors for their contributions[69]. Miscellaneous - The company completed a capitalisation issue on January 13, 2021, issuing 224,990,000 shares at a par value of HKD 0.01, raising a total of HKD 55,500,000[14]. - The effective tax rate for the period was calculated at 16.5%, with tax expenses amounting to HKD 775,000[36]. - The company did not have any significant investments, acquisitions, or disposals of subsidiaries during Q1 2021[60]. - As of March 31, 2021, the company had no significant contingent liabilities or capital commitments[65][66]. - The company maintains compliance with the GEM listing rules regarding public float as of May 10, 2021[99]. - The roles of Chairman and CEO are currently held by Mr. Zhao, which the board believes provides strong leadership and effective strategic planning[93]. - The company has not identified any business or interests that may compete with its operations from directors or major shareholders[90].