Company Overview - Wan Leader International Limited is incorporated in the Cayman Islands and listed on the GEM of the Hong Kong Stock Exchange under stock code 8482[1][2]. - The registered office is located in Grand Cayman, while the headquarters in Hong Kong is situated at Hutchison Logistics Centre[19]. - Wan Leader International Limited's website is www.wanleader.com, providing additional information and updates about the company[20]. Financial Performance - The report includes a consolidated statement of profit or loss, which provides insights into the company's financial performance[10]. - The annual report includes a five-year financial summary, which highlights the company's financial trends over the past years[10]. - The Group achieved a significant increase in net profit to approximately HK$9.2 million for the year ended 31 March 2022, compared to HK$4.2 million in the previous year, reflecting a growth of about 119%[35]. - The Group's total revenue increased by approximately 102.5% from approximately HK$332.8 million in the previous year to approximately HK$674.0 million for the year[49]. - Revenue from air freight forwarding and related logistics services amounted to approximately HK$530.4 million, accounting for approximately 78.7% of total revenue[54]. - Revenue from sea freight forwarding and related logistics services increased significantly to approximately HK$139.2 million, representing approximately 20.7% of total revenue[55]. - Revenue from entrusted management services for operating an online e-commerce platform was approximately HK$4.4 million, accounting for approximately 0.6% of total revenue[56]. - The Group's cost of services increased by approximately 108.3% to approximately HK$629.2 million, primarily due to increased acquisition costs of air cargo space[57]. - Gross profit increased by approximately 45.8% to approximately HK$44.8 million, but gross profit margin decreased from approximately 9.3% to approximately 6.7%[58]. - The Group recorded a profit from continuing operations of approximately HK$9.2 million for the Year, compared to HK$0.5 million for the Previous Year, driven by an increase in segment profit from freight forwarding and related logistics services of approximately HK$15.9 million[75]. Operational Changes - The company has undergone significant changes in its board of directors, with multiple resignations and appointments in 2021[11][12]. - The Group has adopted a more prudent approach by selling operations in Shenzhen and Taipei to independent third parties, focusing fully on its operations in Hong Kong to restore financial stability[42]. - The Group has sold its operations in Shenzhen and Taipei to focus on its core business in Hong Kong, consolidating its financial position[44]. - The Group resolved to discontinue warehousing and related value-added services[157]. Market Outlook - The Group anticipates continued growth in air freight forwarding and related logistics services, driven by consolidation and co-loading of air cargo space, with stable supply from established supplier relationships[36]. - The Group is cautiously optimistic about the future freight forwarding market in Hong Kong, expecting a surge in demand for air cargo services as economies in the USA and Europe recover from the pandemic[41]. - The outlook for the upcoming year remains uncertain, with management committed to tightening costs and closely monitoring customer needs[123]. Management and Governance - The directors of Wan Leader International Limited confirm that the information in the annual report is accurate and complete in all material respects[6]. - The company has a dedicated compliance officer and various board committees to ensure governance and oversight[16][18]. - The Group's management remains vigilant in managing operations amidst unpredictable environments and is looking for opportunities to expand its business and markets[27]. - The Group's executive management team has extensive experience in logistics and finance, with over 31 years in the industry for the CEO[160]. - The Group's financial strategies are supported by a strong management team, including a new executive director with a background in banking and logistics[167]. Employee and Training Initiatives - The Group employed 33 staff as of 31 March 2022, an increase from 21 staff the previous year[124]. - The total costs for employee compensation and benefits were approximately HK$14.2 million, down from approximately HK$23.0 million in the previous year[125]. - The Group provided various types of training to employees, including air cargo operations and safety, as part of its commitment to employee development[135]. - The Group acquired medical insurance for eligible employees and provided COVID-19 screening tests to ensure employee safety during the year[141]. - Continuous training and development of staff are emphasized to maintain high standards in logistics operations[198]. Compliance and Environmental Responsibility - The Group's operations complied with all relevant laws and regulations that significantly impact its operations[132]. - The management promoted environmental protection through energy-saving programs and compliance with local environmental laws in Hong Kong, China, and Taiwan[133]. - The Group maintained good relations with stakeholders, with no material disputes reported during the year[143]. Financial Management - The Group's income tax expense for the Year was approximately HK$3.0 million, compared to HK$0.4 million for the Previous Year, reflecting a profit before taxation of approximately HK$12.3 million[74]. - Finance costs increased from approximately HK$0.1 million for the Previous Year to approximately HK$0.2 million for the Year, attributed to higher interest on bank borrowings[73]. - The gearing ratio of the Group decreased to approximately 5.9% at 31 March 2022 from approximately 11.6% at 31 March 2021, due to a decrease in lease liabilities and an increase in total equity[94]. - Cash and cash equivalents increased to approximately HK$44.3 million at 31 March 2022 from approximately HK$26.7 million at 31 March 2021[86]. - The Group did not recommend the payment of dividends for the Year[85]. Strategic Focus - The Group's strategic focus includes evaluating and expanding new businesses, particularly in the logistics sector[161]. - The Group aims to evolve from a freight forwarder to a technology solution provider through innovation and e-commerce platform management[46]. - The Group's future outlook includes leveraging technology advancements to improve service delivery and operational effectiveness[157]. - The Group plans to expand its business in the PRC, focusing on entrusted management services, in response to changing customer habits towards online services[117].
万励达(08482) - 2022 - 年度财报