Financial Performance - For the six months ended June 30, 2023, the company reported total revenue of HKD 131,430,000, a decrease of 49.8% compared to HKD 262,044,000 for the same period in 2022[9]. - The gross profit for the six months was HKD 12,558,000, down 61.9% from HKD 32,937,000 in the previous year[9]. - The company incurred a loss of HKD 9,318,000 for the six months, compared to a profit of HKD 2,602,000 in the same period of 2022, representing a significant decline[10]. - Basic and diluted loss per share for the six months was HKD 1.52, compared to earnings of HKD 0.61 per share in the prior year[10]. - The total comprehensive loss for the six months was HKD 9,325,000, compared to a total comprehensive income of HKD 2,565,000 in the same period of 2022[10]. - The company reported a pre-tax loss of HKD 9,061,000 for the six months ended June 30, 2023, compared to a pre-tax profit of HKD 3,190,000 for the same period in 2022[26][32]. - The company recorded a loss attributable to owners of HKD 9.1 million for the period, compared to a profit of HKD 3.7 million for the six months ended June 30, 2022[66]. Revenue Breakdown - The segment performance for air freight, sea freight, logistics and warehousing, and e-commerce for the six months ended June 30, 2023, was HKD 1,683,000, HKD 1,354,000, HKD 4,351,000, and HKD 5,170,000 respectively, totaling HKD 12,558,000[26]. - The segment revenue from external sales for air freight, sea freight, logistics and warehousing, and e-commerce for the six months ended June 30, 2023, was HKD 33,941,000, HKD 12,170,000, HKD 42,674,000, and HKD 42,645,000 respectively[26]. - Air freight agency service revenue fell by 44.4% from HKD 78.3 million to HKD 33.9 million, while sea freight agency service revenue dropped by 51.3% from HKD 63.5 million to HKD 12.2 million[59]. - Logistics and warehousing service revenue decreased by HKD 17.5 million to HKD 42.7 million, attributed to the completion of government contracts in January 2023[59]. Expenses and Costs - Administrative and selling expenses for the six months were HKD 19,695,000, down 34.3% from HKD 30,094,000 in 2022[9]. - The total employee costs for the six months ended June 30, 2023, were HKD 28,044,000, down from HKD 33,788,000 in the same period of 2022, indicating a reduction of approximately 17%[32]. - Employee costs decreased to HKD 28.0 million from HKD 33.8 million for the same period last year, attributed to a reduction in headcount[78]. Assets and Liabilities - As of June 30, 2023, total assets decreased to HKD 268,926 thousand from HKD 350,835 thousand as of December 31, 2022, representing a decline of approximately 23.3%[12]. - Total equity decreased to HKD 72,511 thousand as of June 30, 2023, from HKD 81,836 thousand as of December 31, 2022, a decrease of about 11.4%[13]. - The company’s total liabilities decreased to HKD 181,967 thousand from HKD 252,263 thousand, reflecting a decline of approximately 27.7%[12]. - The company’s non-current liabilities decreased to HKD 14,448 thousand from HKD 16,736 thousand, a reduction of about 13.7%[13]. Cash Flow - Net cash generated from operating activities for the six months ended June 30, 2023, was HKD 21,573 thousand, down from HKD 26,920 thousand in the same period of 2022, a decline of approximately 19.3%[17]. - The company’s financing activities used a net cash of HKD 27,594 thousand, compared to HKD 24,156 thousand in the previous year, indicating an increase in cash outflow of approximately 10.1%[17]. Future Outlook and Strategy - The company is focusing on enhancing e-commerce fulfillment services and cold chain logistics solutions to meet growing demand[57]. - Future outlook remains cautious due to rising fuel and labor costs, but the company anticipates benefits from the gradual recovery of the Hong Kong economy[57]. - The company plans to invest heavily in robotic-assisted systems to improve operational efficiency and expand e-commerce fulfillment services[57]. - The company aims to continue strict cost control and pricing adjustments to enhance profitability while reviewing business strategies for sustainable growth[57]. Corporate Governance and Compliance - The company has complied with the corporate governance code as per GEM listing rules during the reporting period[105]. - The audit committee has reviewed the unaudited condensed consolidated financial statements and confirmed compliance with applicable accounting standards and GEM listing rules[108]. - The company will publish this report on its website and the Hong Kong Stock Exchange website for at least seven days from the publication date[109].
骏高控股(08035) - 2023 - 中期财报