盛良物流(08292) - 2025 - 中期财报

I. Company Information and GEM Characteristics This section outlines the company's profile, GEM listing features, and associated investment risks Company Overview WORLDGATE GLOBAL LOGISTICS LTD, incorporated in 2016 and listed on GEM, is an investment holding company with subsidiaries providing international freight forwarding, used mobile phone trading, and plastic product manufacturing - The company was incorporated in the Cayman Islands on February 18, 2016, and its shares were listed on GEM of the Stock Exchange on July 6, 2016[11] - Key businesses include international freight forwarding and logistics services (Malaysia and Hong Kong), trading of used mobile phones in Hong Kong, and manufacturing and trading of plastic products in Vietnam[12] GEM Listing Characteristics and Risk Disclosure The GEM market targets small and medium-sized companies, carrying higher investment risks, potential for significant market volatility, and no guarantee of high liquidity - The GEM market is positioned for small and medium-sized companies, entailing higher investment risks, potential for significant market volatility, and no guarantee of high liquidity[4] - The Board of Directors collectively and individually assumes full responsibility for the accuracy, completeness, and non-misleading nature of the information contained in this report[4] II. Condensed Consolidated Financial Results This section summarizes the group's condensed consolidated financial performance and position for the reporting period Condensed Consolidated Statement of Comprehensive Income For the six months ended June 30, 2025, the Group's revenue significantly increased by 54.2% to 55,828 thousand Ringgit, gross profit grew by 220%, and loss for the period narrowed by 58.4% to 2,740 thousand Ringgit, achieving a turnaround to total comprehensive income of 196 thousand Ringgit Key Data from Condensed Consolidated Statement of Comprehensive Income (For the six months ended June 30) | Indicator | 2025 (thousand Ringgit) | 2024 (thousand Ringgit) | Change | | :--- | :--- | :--- | :--- | | Revenue | 55,828 | 36,202 | Increase 54.2% | | Gross Profit | 7,108 | 2,222 | Increase 220% | | Loss Before Income Tax Expense | (2,706) | (6,551) | Loss narrowed 58.7% | | Loss for the Period | (2,740) | (6,588) | Loss narrowed 58.4% | | Total Comprehensive Income/(Expense) for the Period | 196 | (6,922) | Turned from loss to profit | Loss Per Share (For the six months ended June 30) | Indicator | 2025 (Ringgit) | 2024 (Ringgit) | Change | | :--- | :--- | :--- | :--- | | Basic and Diluted Loss Per Share | (0.37) cents | (1.01) cents | Loss narrowed 63.4% | Condensed Consolidated Statement of Financial Position As of June 30, 2025, the Group's non-current assets increased by 13.5% to 13,562 thousand Ringgit, and current assets grew by 7.0% to 37,869 thousand Ringgit, while current liabilities decreased by 9.9%, leading to a 31.9% increase in net current assets and a 30.8% increase in total equity, indicating an improved financial position Key Data from Condensed Consolidated Statement of Financial Position (As of June 30) | Indicator | 2025 (thousand Ringgit) | December 31, 2024 (thousand Ringgit) | Change | | :--- | :--- | :--- | :--- | | Non-current Assets | 13,562 | 11,950 | Increase 13.5% | | Current Assets | 37,869 | 35,379 | Increase 7.0% | | Current Liabilities | 18,929 | 21,019 | Decrease 9.9% | | Net Current Assets | 18,940 | 14,360 | Increase 31.9% | | Net Assets | 31,707 | 24,241 | Increase 30.8% | | Total Equity | 31,707 | 24,241 | Increase 30.8% | - Property, plant and equipment increased from 2,047 thousand Ringgit as of December 31, 2024, to 4,603 thousand Ringgit as of June 30, 2025[7] Condensed Consolidated Statement of Changes in Equity For the six months ended June 30, 2025, total equity attributable to owners of the Company increased by 9.9% to 32,431 thousand Ringgit, primarily due to a 7,270 thousand Ringgit increase in share capital from new share placement and positive foreign exchange reserve movements, despite a loss of 2,639 thousand Ringgit for the period Key Data from Condensed Consolidated Statement of Changes in Equity (For the six months ended June 30) | Indicator | 2025 (thousand Ringgit) | 2024 (thousand Ringgit) | Change | | :--- | :--- | :--- | :--- | | Equity attributable to owners of the Company at beginning of period | 25,086 | 36,256 | Decrease 30.8% | | Loss for the Period | (2,639) | (6,404) | Loss narrowed 58.8% | | New shares issued under placement | 7,270 | – | New | | Other Comprehensive Income/(Expense) for the Period | 2,714 | (340) | Turned from negative to positive | | Equity attributable to owners of the Company at end of period | 32,431 | 29,512 | Increase 9.9% | - Share capital increased from 33,712 thousand Ringgit as of January 1, 2025, to 40,982 thousand Ringgit as of June 30, 2025, mainly due to the placement of new shares[9] Condensed Consolidated Statement of Cash Flows For the six months ended June 30, 2025, net cash used in operating activities increased to 7,342 thousand Ringgit, and net cash used in investing activities slightly increased; however, net cash from financing activities turned from an outflow to an inflow of 6,603 thousand Ringgit, primarily from share placement proceeds, significantly narrowing the net decrease in cash and cash equivalents by 72.8% Key Data from Condensed Consolidated Statement of Cash Flows (For the six months ended June 30) | Indicator | 2025 (thousand Ringgit) | 2024 (thousand Ringgit) | Change | | :--- | :--- | :--- | :--- | | Net cash used in operating activities | (7,342) | (4,997) | Outflow increased 46.9% | | Net cash used in investing activities | (1,425) | (1,369) | Outflow increased 4.1% | | Net cash from financing activities | 6,603 | (1,601) | Turned from outflow to inflow | | Proceeds from share placement | 7,270 | – | New | | Net decrease in cash and cash equivalents | (2,164) | (7,967) | Decrease narrowed 72.8% | | Cash and cash equivalents at end of period | 7,086 | 13,374 | Decrease 47.0% | III. Notes to the Financial Statements This section provides detailed notes to the financial statements, covering company information, segment data, revenue, expenses, and other key disclosures Company Information and Basis of Preparation This section outlines the company's registration details, principal place of business, business scope, and the basis of preparation and accounting policies for its financial statements, which are presented in Malaysian Ringgit and comply with Hong Kong Financial Reporting Standards, with no significant impact from new standards adoption - The Company is an investment holding company, with principal businesses including international freight forwarding and logistics services, trading of used mobile phones in Hong Kong, and manufacturing and trading of plastic products in Vietnam[12] - The financial statements are presented in Malaysian Ringgit, comply with Hong Kong Financial Reporting Standards, and are prepared consistently with the 2024 annual report, with no significant impact from new standards adoption[13] Segment Information The Group is organized into three reportable segments: freight forwarding and related services, trading of used mobile phones, and manufacturing and trading of plastic products, with management assessing performance based on adjusted profit/loss before tax, excluding results from associates, fair value changes of financial assets, and unallocated corporate expenses - The Group has three reportable segments: freight forwarding and related services, trading of used mobile phones, and manufacturing and trading of plastic products[14][16] - Segment performance is assessed based