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裕程物流(08489) - 2021 Q3 - 季度财报
GP LOGISTICSGP LOGISTICS(HK:08489)2021-11-12 08:44

Financial Performance - For the nine months ended September 30, 2021, the group's revenue was approximately HKD 538.1 million, a decrease of about 9.8% compared to HKD 596.4 million for the same period in 2020[10]. - The profit attributable to the owners of the company for the third quarter of 2021 was approximately HKD 14.9 million, down from HKD 26.6 million in the third quarter of 2020[10]. - Basic and diluted earnings per share for the third quarter of 2021 were approximately HKD 0.0503, compared to HKD 0.1182 for the same quarter in 2020[10]. - Gross profit for the nine months ended September 30, 2021, was HKD 48.1 million, down from HKD 62.1 million in the same period of 2020[13]. - The total comprehensive income for the nine months ended September 30, 2021, was HKD 15.7 million, down from HKD 26.5 million in the same period of 2020[13]. - The total profit before tax for the period was HKD 18,386,000, down from HKD 33,215,000 in the same period of 2020[27]. - The company reported a net profit of HKD 14,931,000 for the nine months ended September 30, 2021, compared to HKD 26,606,000 in the same period of 2020[27]. - Profit before tax decreased by approximately HKD 14,800,000 or 44.6% to about HKD 18,400,000 in Q3 2021, with profit after tax decreasing by approximately HKD 11,700,000 or 44.0% to about HKD 14,900,000[60]. Revenue Breakdown - For the three months ended September 30, 2021, air freight forwarding service revenue was HKD 214,120,000, an increase of 60.8% compared to HKD 133,081,000 in the same period of 2020[23]. - Sea freight forwarding service revenue for the same period was HKD 19,220,000, representing a 152.5% increase from HKD 7,622,000 in 2020[23]. - Revenue from Europe for exports decreased to HKD 217,451,000 in 2021 from HKD 328,649,000 in 2020, a decline of 33.9%[32]. - North America export revenue increased to HKD 246,641,000 in 2021, up 25.5% from HKD 196,632,000 in 2020[32]. - Revenue from the air freight forwarding segment decreased by approximately HKD 69.8 million or 12.2% to about HKD 503.6 million in the third quarter of 2021, primarily due to a reduction in export freight rates[49]. - Revenue from the sea freight forwarding segment increased by approximately HKD 11.4 million or 49.6% to about HKD 34.4 million in the third quarter of 2021, driven by increased customer demand[51]. Expenses and Costs - Administrative and other operating expenses increased to HKD 29.8 million for the nine months ended September 30, 2021, compared to HKD 24.6 million for the same period in 2020[13]. - Total employee costs for the nine months ended September 30, 2021, amounted to HKD 10.3 million, an increase from HKD 7.9 million in the same period of 2020[37]. - The income tax expense for the nine months ended September 30, 2021, was HKD 3.5 million, a decrease from HKD 6.6 million in the same period of 2020[39]. - The service costs decreased from approximately HKD 534.3 million in the third quarter of 2020 to about HKD 490 million in the third quarter of 2021, aligning with the revenue decrease[52]. - Administrative and other operating expenses rose by approximately HKD 5,200,000 or 21.1% to about HKD 29,800,000 in Q3 2021, mainly due to increases in legal and professional fees and employee costs[56]. Financial Position - As of September 30, 2021, the total equity stood at HKD 157,213,000, reflecting an increase from HKD 102,496,000 at the beginning of the year[14]. - The company’s accumulated losses decreased to HKD 21,107,000 as of September 30, 2021, from HKD 26,998,000 at the beginning of the year[14]. - The company’s share premium account recorded a balance of HKD 35,986,000 as of September 30, 2021[14]. - The company raised a total of HKD 55,500,000 through the issuance of 75,000,000 new ordinary shares at HKD 0.74 per share[15]. Corporate Governance and Management - The company has adopted and complied with the corporate governance code as per GEM Listing Rules Appendix 15, ensuring proper regulation of business activities and decision-making processes[91]. - The roles of Chairman and CEO are currently held by Mr. Zhao, which the board believes provides strong and consistent leadership for effective strategic planning and management[93]. - The board will regularly review the need to appoint different individuals for the roles of Chairman and CEO to maintain good corporate governance[94]. - The company has adopted a code of conduct for securities transactions, ensuring compliance with the standards set forth in GEM Listing Rules[96]. Future Strategies - The group aims to enhance its market presence and explore new strategies for growth in the upcoming quarters[10]. - Future strategies include purchasing more cargo space to meet customer demand, establishing new offices in China, and improving cargo space acquisition capabilities through closer cooperation with airlines[74]. - The company plans to establish new regional offices in China, with an initial setup cost of HKD 0.4 million (7.7%) expected to be utilized by December 2021[80]. COVID-19 Impact - In Q3 2021, the company reported no significant disruptions to its operations due to COVID-19, as all employees were able to connect remotely to the IT systems[75]. - The company will continue to monitor the impact of COVID-19 on its financial performance and operations[75].