Financial Performance - The group's revenue for the first quarter of 2022 was approximately HKD 180.6 million, an increase of about 31.7% compared to HKD 137.1 million in the first quarter of 2021[9] - The profit attributable to ordinary equity holders for the first quarter of 2022 was approximately HKD 1.6 million, a decrease of about 80.7% from HKD 8.3 million in the first quarter of 2021[9] - Basic and diluted earnings per share for the first quarter of 2022 were approximately HKD 0.53, down about 81.4% from HKD 2.85 in the first quarter of 2021[9] - The gross profit for the first quarter of 2022 was HKD 12.9 million, compared to HKD 16.9 million in the first quarter of 2021[10] - The total comprehensive income for the first quarter of 2022 was HKD 1.4 million, compared to HKD 8.2 million in the first quarter of 2021[10] - The company reported a net profit of HKD 1,596,000 for the first quarter of 2022, a decrease from HKD 8,253,000 in the same quarter of 2021[24] - The pre-tax profit for Q1 2022 was approximately HKD 2.1 million, a decrease of about 79.0% compared to HKD 10.0 million in Q1 2021, while the post-tax profit fell by approximately 80.7% to HKD 1.6 million[53] Revenue Breakdown - Air freight forwarding services generated revenue of HKD 153,154,000, up 16.3% from HKD 131,703,000 year-on-year[19] - Sea freight forwarding services saw a significant increase in revenue to HKD 27,489,000, compared to HKD 5,377,000 in the previous year, marking a 411.5% growth[19] - Revenue from air freight forwarding services increased by approximately 16.3% to about HKD 153,200,000 in Q1 2022 from approximately HKD 131,700,000 in Q1 2021[46] - Revenue from sea freight forwarding services surged by approximately 409.3% to about HKD 27,500,000 in Q1 2022 from approximately HKD 5,400,000 in Q1 2021[47] Expenses and Costs - Administrative and other operating expenses for the first quarter of 2022 were HKD 10.6 million, an increase from HKD 7.3 million in the first quarter of 2021[10] - Administrative and other operating expenses increased to HKD 10,557,000 from HKD 7,290,000 year-on-year[24] - Employee costs totaled HKD 5,193,000 in Q1 2022, up from HKD 2,719,000 in Q1 2021[33] - Service costs increased by approximately 39.6% from HKD 120.1 million in Q1 2021 to HKD 167.7 million in Q1 2022, primarily due to the Omicron variant outbreak and rising logistics costs[49] - Gross profit decreased by approximately 23.7% from HKD 16.9 million in Q1 2021 to HKD 12.9 million in Q1 2022, resulting in a gross margin drop from 12.4% to 7.1%[50] - Administrative and other operating expenses rose by approximately 45.2% from HKD 7.3 million in Q1 2021 to HKD 10.6 million in Q1 2022, mainly due to increased employee costs[51] Corporate Governance and Compliance - The financial statements were prepared in accordance with the Hong Kong Financial Reporting Standards and have not been audited[16] - The company has adopted a securities trading code for directors, ensuring compliance with GEM listing rules, with no reported violations in Q1 2022[77] - The audit committee reviewed the unaudited consolidated financial statements for Q1 2022, confirming adherence to applicable accounting standards and GEM listing rules[80] - The company has complied with all applicable corporate governance codes, with noted deviations being justified by the board[73] - There are no known interests held by the compliance advisor in the company's equity as of Q1 2022[78] Future Plans and Strategies - The group plans to continue exploring market expansion opportunities and enhancing operational efficiency in the upcoming quarters[9] - The company plans to purchase more cargo space to meet customer demand and strengthen its market position in Hong Kong and China[57] - The establishment of new offices in China is aimed at reaching more potential customers[57] - The company will continue to improve its cargo space acquisition capabilities through closer cooperation with airlines[57] - The company has not disclosed any new product developments or technological advancements during this reporting period[19] - There are no indications of market expansion or acquisitions mentioned in the report[19] Shareholder Information - As of March 31, 2022, the total number of issued ordinary shares was 300 million, with a par value of HKD 0.01 per share[54] - The company had a total of 300,000 shares outstanding for the calculation of basic and diluted earnings per share[37] - As of March 31, 2022, Profit Virtue and Peak Connect each hold 112,500,000 shares, representing 37.5% ownership in the company[70] - Zhao and Wang hold 50% equity each in Peak Connect and Profit Virtue, with Zhao being the sole owner of Profit Virtue[69] - The company did not declare or pay any dividends for the periods ending March 31, 2022, and March 31, 2021[39] - No dividends were recommended for Q1 2022, consistent with Q1 2021[59] Leadership and Management - The board believes that having Zhao serve as both Chairman and CEO provides strong leadership and effective strategic planning[74] - The company will regularly review the necessity of separating the roles of Chairman and CEO to maintain good corporate governance[75] - The company has not disclosed any competitive interests or conflicts of interest among directors or major shareholders in Q1 2022[72] - No new significant strategies, products, or technologies were mentioned in the provided documents for Q1 2022[71]
裕程物流(08489) - 2022 Q1 - 季度财报