Financial Performance - Revenue for the six months ended September 30, 2021, was HKD 217,507,000, representing an increase of 26.2% compared to HKD 172,435,000 for the same period in 2020[10] - The company reported a net profit of HKD 844,000 for the six months ended September 30, 2021, compared to a net loss of HKD 3,580,000 for the same period in 2020[10] - The company reported a basic earnings per share of HKD 0.18 for the six months ended September 30, 2021, compared to a loss per share of HKD 0.76 for the same period in 2020[10] - For the six months ended September 30, 2021, total revenue reached HKD 217,507,000, a 26.1% increase from HKD 172,435,000 in the same period of 2020[27] - The company reported a loss of HKD 467,000 for the six months ended September 30, 2021, compared to a loss of HKD 3,580,000 in the same period of 2020[16] - The company reported a net loss of HKD 468,000 for the six months ended September 30, 2021, compared to a net loss of HKD 3,580,000 for the same period in 2020[42] - Net loss decreased to approximately HKD 0.5 million for the six months ended September 30, 2021, from a net loss of approximately HKD 3.6 million for the same period in 2020[75] Revenue Breakdown - Revenue from Hong Kong for the six months ended September 30, 2021, was HKD 212,630,000, up 31.5% from HKD 161,675,000 in 2020[31] - Revenue from China for the six months ended September 30, 2021, was HKD 4,877,000, a decrease of 54.6% from HKD 10,760,000 in 2020[31] - The logistics services segment generated revenue of HKD 60,418,000 for transportation services, up from HKD 53,606,000 in the previous year, reflecting a growth of 10.6%[27] - The warehousing and other value-added services segment saw revenue increase to HKD 71,977,000, a significant rise from HKD 38,685,000, marking an increase of 86.1%[27] - Revenue from warehousing and other value-added services rose by approximately HKD 33.3 million or 86.1% to about HKD 72.0 million for the six months ended September 30, 2021, compared to approximately HKD 38.7 million for the same period in 2020[62] Expenses and Costs - Employee benefit expenses increased to HKD 26,656,000, up 26.5% from HKD 21,059,000 in the previous year[10] - Total employee costs for the six months ended September 30, 2021, were HKD 26,836,000, an increase of 27.5% from HKD 21,059,000 in 2020[39] - Transportation costs rose to HKD 98,746,000, an increase of 24.1% from HKD 79,554,000 in the same period last year[10] - Transportation costs rose by approximately HKD 19.2 million or 24.1% to about HKD 98.7 million for the six months ended September 30, 2021, compared to approximately HKD 79.6 million for the same period in 2020[71] Assets and Liabilities - Trade and other receivables as of September 30, 2021, amounted to HKD 79,432,000, up from HKD 74,207,000 as of March 31, 2021[12] - The company's total assets as of September 30, 2021, were HKD 209,011,000, compared to HKD 192,357,000 as of March 31, 2021[12] - The company’s cash and cash equivalents increased to HKD 29,581,000 from HKD 23,684,000 as of March 31, 2021[12] - Non-current liabilities decreased to HKD 20,018,000 as of September 30, 2021, down from HKD 22,921,000 as of March 31, 2021[13] - The company's total equity as of September 30, 2021, was HKD 72,347,000, slightly down from HKD 72,624,000 as of March 31, 2021[13] - The total amount of bank loans increased to HKD 52,500,000 as of September 30, 2021, compared to HKD 34,000,000 as of March 31, 2021, reflecting a growth of 54.4%[53] - The asset-liability ratio increased to approximately 110.9% as of September 30, 2021, from approximately 96.9% as of March 31, 2021, primarily due to increased bank borrowings[79] Cash Flow - The operating cash flow for the six months ended September 30, 2021, was HKD 11,121,000, compared to a cash outflow of HKD 16,219,000 in the previous year[18] - The net cash and cash equivalents at the end of the period increased to HKD 29,581,000 from HKD 25,969,000 year-over-year[18] - The financing activities generated a net cash inflow of HKD 9,795,000 for the six months ended September 30, 2021, compared to HKD 32,575,000 in the previous year[18] Corporate Governance - The company has complied with all provisions of the corporate governance code during the reporting period[111] - The board of directors is composed of experienced individuals, including three independent non-executive directors, ensuring a balance of power and responsibility[111] - The audit committee, established on March 23, 2020, reviewed the unaudited consolidated financial statements for the six months ended September 30, 2021[114] Future Plans and Developments - The company plans to continue expanding its logistics services and exploring new market opportunities in the upcoming periods[10] - The company aims to explore higher-margin business opportunities while maintaining prudent cost control measures to enhance competitiveness in the logistics sector[61] - The company has enhanced its logistics capabilities with new warehouses at the Hong Kong logistics hub, responding to strong demand for cargo security services[61] - The company secured new contracts with a major client for the next three years, enhancing its role in the logistics industry[61] Shareholder Information - The board of directors holds significant shares, with Mr. Chan holding approximately 68.8% and Mr. Choi holding approximately 6.2% of the issued share capital[98] - 3C Holding Limited holds 330,120,000 shares, representing approximately 68.8% of the company's issued share capital[101] - Kwan Cheng Limited owns about 6.2% of the company's total issued share capital, equating to 29,880,000 shares[101] - No share options have been granted under the company's share option scheme since its adoption[104] Miscellaneous - The company did not declare any dividends for the six months ended September 30, 2021[40] - The group did not incur any significant capital commitments as of September 30, 2021, compared to approximately HKD 0.6 million for the purchase of transportation fleet as of March 31, 2021[86] - The group has purchased 11 heavy-duty trucks to meet operational needs, falling short of the target of 18 vehicles as outlined in the prospectus[92] - The group has recruited 32 operators to expand its warehousing operations, exceeding the target of 12 operators[92] - The group has invested in multiple IT systems, including logistics order management and warehouse management systems, all of which are operational or in trial phases[92] - The unutilized net proceeds as of September 30, 2021, were deposited in interest-bearing accounts at licensed banks in Hong Kong[94] - No significant events requiring disclosure occurred after September 30, 2021, up to the report date[115] - The mid-term report is available on the company's website and complies with GEM listing rules[116]
亚洲速运(08620) - 2022 - 中期财报