Financial Performance - For the six months ended June 30, 2022, the company reported revenue of approximately MYR 179.7 million, a 40.4% increase compared to MYR 128.0 million for the same period in 2021[9]. - Gross profit for the same period was approximately MYR 45.2 million, reflecting a 47.2% increase from MYR 30.7 million in the previous year, with a gross margin of 25.2%[9][13]. - Net profit for the six months ended June 30, 2022, was approximately MYR 21.8 million, up from MYR 17.7 million in the prior year[9][13]. - The company achieved a profit before tax of 24,208 thousand MYR, representing a 16.0% increase compared to 20,739 thousand MYR in the previous year[59]. - Total comprehensive income for the period amounted to 27,774 thousand MYR, compared to 20,014 thousand MYR in the same period last year, reflecting a 38.9% increase[61]. - The company reported a net profit of 21,810 thousand MYR for the six months ended June 30, 2022, compared to 17,720 thousand MYR for the same period in 2021, indicating a year-over-year increase of approximately 23.5%[94]. - The group reported a profit attributable to owners of RM 21,762,000 for the six months ended June 30, 2022, compared to RM 17,720,000 for the same period in 2021, representing a growth of approximately 22.9%[121]. Revenue Segmentation - The logistics center and related services segment saw revenue increase by 56.2% to approximately MYR 36.8 million, driven by higher demand for warehousing services[16]. - The land transportation services segment's revenue increased by 28.4% to approximately MYR 27.8 million, attributed to the acquisition of a subsidiary engaged in transportation services[18]. - The integrated freight forwarding services segment experienced a revenue growth of 36.3% to approximately MYR 56.5 million, supported by increased demand following the reopening of international borders[18]. - Revenue from Malaysia accounted for the largest share at 102,953 thousand MYR in 2022, up from 73,801 thousand MYR in 2021, reflecting a growth of approximately 39.5%[100]. - The revenue breakdown for the six months ended June 30, 2022, included 56,455 thousand MYR from integrated freight forwarding services, 36,762 thousand MYR from logistics center and related services, and 27,772 thousand MYR from land transportation services[90]. Asset and Equity Growth - Total non-current assets as of June 30, 2022, were approximately MYR 325.3 million, compared to MYR 227.4 million at the end of 2021[12]. - The company's net asset value increased to approximately MYR 293.1 million as of June 30, 2022, from MYR 265.5 million at the end of 2021[12]. - The company's total assets as of June 30, 2022, were 420,395 thousand MYR, an increase from 344,750 thousand MYR as of December 31, 2021[66]. - The company's equity totalled 293,140 thousand MYR as of June 30, 2022, up from 265,499 thousand MYR at the end of 2021, reflecting a growth of 10.4%[66]. Costs and Expenses - Operating costs totaled approximately RM 134,484,000, an increase of RM 37,166,000 or 38.2% compared to the same period in 2021[19]. - Employee costs for the six months ended June 30, 2022, were approximately RM 19,678,000, compared to RM 14,407,000 for the same period in 2021[31]. - The total administrative and other expenses for the period were (18,167) thousand MYR, indicating a need for cost management strategies moving forward[90]. - The income tax expense for the six months ended June 30, 2022, was 2,398 thousand MYR, down from 3,019 thousand MYR in 2021, indicating a decrease of about 21%[117]. Cash Flow and Liquidity - As of June 30, 2022, the group held cash and bank balances of approximately RM 33,125,000, down from RM 53,684,000 as of December 31, 2021[23]. - The company experienced a net decrease in cash and cash equivalents of 29,544 thousand MYR during the reporting period[75]. - The company’s cash and cash equivalents at the end of the reporting period stood at 17,699 thousand MYR, down from 61,506 thousand MYR at the beginning of the period[75]. - Cash generated from operating activities was 26,552 thousand MYR, compared to 21,390 thousand MYR in the previous year, indicating a significant increase in operational efficiency[75]. Debt and Liabilities - The total lease liabilities amounted to approximately RM 99,349,000, an increase from RM 38,975,000 as of December 31, 2021[23]. - The group recorded interest-bearing borrowings of approximately RM 48,790,000 as of June 30, 2022, compared to RM 45,687,000 as of December 31, 2021[23]. - The debt-to-equity ratio was 0.56 as of June 30, 2022, up from 0.37 as of December 31, 2021[23]. - The current portion of secured bank borrowings was RM 10,703,000 as of June 30, 2022, up from RM 5,037,000 as of December 31, 2021, representing a significant increase of approximately 112.9%[147]. Corporate Governance and Compliance - The company adhered to the corporate governance code as per the Hong Kong Stock Exchange, with only one regular board meeting held during the six-month period ending June 30, 2022[36]. - The audit committee, consisting of three independent non-executive directors, reviewed the unaudited interim results for the six months ending June 30, 2022[42]. - The company has implemented internal control measures and procedures to comply with regulatory changes and best practices[39]. - The company confirmed that all directors complied with the standard code for securities trading during the reporting period[40]. Future Outlook and Strategic Developments - The company is expanding its trucking fleet to support the growth of its land transportation services, which is expected to become a core business segment[15]. - The company is focused on expanding its logistics and transport services, including integrated freight forwarding and fourth-party logistics[78]. - The company has a significant commitment to future lease payments, with 8,165 million MYR due within one year as of June 30, 2022, compared to 6,830 million MYR in the previous year[172]. - The company entered into a conditional share purchase agreement to acquire Access World Group Holdings B.V. for a total consideration of 176.7 million USD (approximately 740.0 million MYR), with a maximum consideration of 180 million USD (approximately 753.8 million MYR)[176].
鹰辉物流(01442) - 2022 - 中期财报