Revenue Performance - Revenue for the three months ended December 31, 2020, was HKD 109,102,000, representing a 30.0% increase compared to HKD 83,900,000 for the same period in 2019[5] - Revenue for the nine months ended December 31, 2020, reached HKD 281,537,000, up 15.4% from HKD 244,067,000 in the previous year[5] - For the nine months ended December 31, 2020, total revenue was HKD 281,537,000, an increase of 15.4% compared to HKD 244,067,000 for the same period in 2019[13] - Revenue from warehousing and other value-added services increased by approximately HKD 50.0 million or 221.2% to approximately HKD 72.6 million, driven by new customer acquisitions[23] - Revenue from air cargo terminal operations decreased by approximately HKD 19.8 million or 14.0% to approximately HKD 122.1 million due to the non-renewal of a contract with a major express carrier[23] - Transportation services revenue increased by 9.1% to HKD 86,881,000 for the nine months ended December 31, 2020, compared to HKD 79,580,000 in 2019[13] - Air cargo station operation services generated revenue of HKD 75,254,000 for the nine months ended December 31, 2020, down 16.5% from HKD 90,112,000 in 2019[13] Profit and Loss - The company reported a profit of HKD 2,902,000 for the three months ended December 31, 2020, compared to HKD 2,946,000 in the same period of 2019, indicating a slight decrease of 1.5%[6] - For the nine months ended December 31, 2020, the company recorded a loss of HKD 678,000, a significant decline from a profit of HKD 6,330,000 in the previous year[6] - The company reported a net loss of HKD 6,149,000 for the nine months ended December 31, 2020, compared to a profit of HKD 1,000,000 in the same period of 2019[16] - Basic earnings per share for the three months ended December 31, 2020, was HKD 0.61, down from HKD 0.79 in the same period of 2019[6] - Basic earnings per share for the nine months ended December 31, 2020, was a loss of HKD 0.013, compared to earnings of HKD 0.003 in 2019[17] - The total comprehensive income for the nine months ended December 31, 2020, was HKD (675,000), compared to HKD 4,081,000 in the previous year[6] Expenses - Employee benefits expenses for the nine months ended December 31, 2020, decreased to HKD 32,042,000 from HKD 34,978,000 in 2019, reflecting a reduction of 5.6%[5] - Dispatch labor costs increased by approximately HKD 18.3 million or 27.8% to approximately HKD 84.2 million, attributed to hiring additional labor for new warehousing services[26] - Other operating expenses increased by approximately HKD 16.3 million or 217.3% to approximately HKD 23.9 million, driven by new customer-related growth in warehousing operations[29] - Employee benefits expenses decreased by approximately HKD 2.9 million or 8.4% to approximately HKD 32.0 million, primarily due to government subsidies offsetting salary increases[25] Equity and Financial Position - The total equity as of December 31, 2020, was HKD 79,509,000, an increase from HKD 50,210,000 at the end of 2019[7] - The company has adopted all new and revised Hong Kong Financial Reporting Standards effective from April 1, 2020, with no significant impact on its financial statements[11] Shareholder Information - The company’s controlling shareholder is 3C Holding Limited, owned by Mr. Chan Lit Pong and Mr. Chan Yu, holding 95% and 5% respectively[1] - Major shareholders include 3C Holding Limited with 68.8% ownership and Qincheng Limited with 6.2% ownership as of December 31, 2020[35] Corporate Governance - The company has complied with the corporate governance code as per GEM listing rules during the reporting period[42] - The audit committee has reviewed the unaudited financial results for the nine months ended December 31, 2020, and confirmed compliance with applicable accounting standards and GEM listing rules[44] Future Outlook and Developments - The company remains optimistic about the logistics industry's potential and expects continued strong growth in its operations[21] - The new warehouse established in Hong Kong enhances the company's logistics service capabilities, allowing for a one-stop logistics service[22] - The company aims to capitalize on the rising demand for e-commerce and small parcel delivery services due to the COVID-19 pandemic[22] Use of Proceeds - The net proceeds from the listing amount to approximately HKD 17.8 million after deducting underwriting commissions and estimated expenses[33] - As of December 31, 2020, the company has utilized HKD 6.654 million of the net proceeds, leaving HKD 11.146 million unutilized[33] - The company allocated HKD 6.15 million for expanding and upgrading the transportation fleet, with HKD 2.846 million already used[33] - HKD 4.4 million was designated for workforce expansion, with HKD 2.68 million utilized[33] - The company invested HKD 3.75 million in purchasing X-ray inspection systems, with HKD 642,000 already spent[33] - HKD 3.5 million was allocated for investing and upgrading IT systems, with HKD 486,000 utilized[33] Miscellaneous - No dividends were declared or proposed for the nine months ended December 31, 2020, consistent with 2019[19] - The company has not purchased, sold, or redeemed any of its listed securities during the nine months ending December 31, 2020[38] - No significant contracts involving directors were reported during the nine months ending December 31, 2020[39] - There were no significant acquisitions or disposals of subsidiaries or associates during the nine months ending December 31, 2020[46] - The board is not aware of any significant events that require disclosure after December 31, 2020, up to the date of this report[47] - The third-quarter report is available on the company's website and complies with all GEM listing rule requirements[48]
亚洲速运(08620) - 2021 Q3 - 季度财报