Financial Performance - Revenue for the six months ended September 30, 2024, was HKD 175,934,000, a decrease of 4.3% from HKD 184,270,000 in the same period of 2023[12] - The net profit for the period was HKD 1,133,000, down 53.6% from HKD 2,443,000 in the previous year[12] - Basic earnings per share decreased to HKD 0.21 from HKD 0.47, representing a decline of 55.3%[12] - The total comprehensive income for the period was HKD 1,315,000, down 51.0% from HKD 2,681,000 in the previous year[12] - The profit attributable to owners of the company for the six months ended September 30, 2024, was HKD 1,133,000, a decrease of 53.7% from HKD 2,443,000 in the same period of 2023[51] - The group recorded a profit of approximately HKD 1.1 million for the six months ended September 30, 2024, a decrease of about HKD 1.3 million or 53.6% compared to HKD 2.4 million for the same period in 2023[97] Revenue Breakdown - Air cargo station operations revenue increased to HKD 50,376,000 from HKD 44,244,000, representing an increase of 7.6%[34] - Transportation services revenue decreased to HKD 46,872,000 from HKD 52,101,000, a decline of 11.0%[34] - Warehouse and other value-added services revenue decreased to HKD 64,017,000 from HKD 76,011,000, a decrease of 15.8%[34] - Revenue from Hong Kong was HKD 170,298,000, down 4.0% from HKD 177,674,000 in the previous year[39] - Revenue from China was HKD 5,636,000, a decrease of 14.6% from HKD 6,596,000 in the previous year[39] Expenses and Costs - Employee benefits expenses were HKD 23,056,000, slightly reduced from HKD 23,209,000 in the prior period[12] - Transportation costs increased to HKD 65,685,000 from HKD 64,934,000, reflecting a rise of 1.2%[12] - Warehouse operating costs decreased to HKD 13,978,000 from HKD 15,840,000, a reduction of 11.7%[12] - Financing costs decreased by approximately 39.3% to about HKD 1.1 million from approximately HKD 1.8 million in the previous period due to repayment of bank loans[93] Cash Flow and Liquidity - The net cash generated from operating activities for the six months ended September 30, 2024, was HKD 2,390,000, a significant decrease from HKD 13,897,000 for the same period in 2023, representing a decline of about 82.8%[24] - The net cash generated from investing activities was HKD 318,000 for the six months ended September 30, 2024, a decrease from HKD 12,195,000 for the same period in 2023, indicating a decline of approximately 97.4%[24] - The company's cash and cash equivalents decreased to HKD 9,023,000 as of September 30, 2024, from HKD 10,969,000 as of March 31, 2024, reflecting a decline of about 17.7%[15] - The current ratio was approximately 1.1 as of September 30, 2024, compared to 1.0 as of March 31, 2024, indicating sufficient liquidity to meet operational needs[105] Assets and Liabilities - As of September 30, 2024, total assets minus current liabilities amounted to HKD 50,998,000, an increase from HKD 49,382,000 as of March 31, 2024, reflecting a growth of approximately 3.3%[15] - Total equity as of September 30, 2024, was HKD 37,782,000, up from HKD 36,467,000 as of March 31, 2024, indicating an increase of approximately 3.6%[17] - The company's retained losses as of September 30, 2024, were HKD 15,536,000, an increase from HKD 16,669,000 as of April 1, 2024, showing a reduction in losses of about 6.8%[20] - The group’s total liabilities remained stable at HKD 62,454,000 as of September 30, 2024, compared to HKD 62,452,000 as of March 31, 2024[15] Shareholder Information - 3C Holding Limited holds a beneficial interest of 330,120,000 shares, representing approximately 62.5% of the company's issued share capital[122] - Kwan Cheng Limited and Ms. Leung Song each hold 29,880,000 shares, accounting for 5.7% of the company's issued share capital[122] - The company did not declare or recommend any dividends for the six months ended September 30, 2024[48] - The group did not declare or recommend any dividends for the six months ended September 30, 2024, consistent with the same period in 2023[114] Corporate Governance - The company has confirmed that all information provided in the report is accurate and complete, with no misleading elements[3] - The company has complied with all corporate governance codes as per GEM Listing Rules during the reporting period[134] - The Audit Committee, established on March 23, 2020, reviewed the unaudited condensed consolidated financial statements for the six months ended September 30, 2024[137] Future Outlook - The company remains cautiously optimistic about future performance despite short-term challenges, focusing on innovation and operational efficiency[77] - The company aims to create sustainable value for customers, stakeholders, and shareholders by expanding market influence and enhancing service capabilities[77]
亚洲速运(08620) - 2025 - 中期业绩