Financial Performance - For the nine months ended September 30, 2023, the group's revenue was approximately HKD 529.8 million, an increase of about 2.3% compared to HKD 517.8 million for the same period in 2022[11] - The group recorded a net loss of approximately HKD 5.5 million in Q3 2023, an improvement from a net loss of approximately HKD 8.8 million in Q3 2022[11] - Basic and diluted loss per share for Q3 2023 was approximately HKD 0.0182, compared to HKD 0.0294 for Q3 2022[11] - Gross profit for the nine months ended September 30, 2023, was HKD 30.3 million, up from HKD 22.2 million in the same period of 2022[12] - The group reported a gross margin of approximately 5.7% for the nine months ended September 30, 2023, compared to 4.3% for the same period in 2022[12] - For the nine months ended September 30, 2023, the total comprehensive loss amounted to HKD 12,817,000, which includes a loss of HKD 8,834,000[13] - The company reported a loss of HKD 5,473,000 for the nine months ended September 30, 2023, compared to a loss of HKD 8,834,000 for the same period in the previous year, indicating an improvement of approximately 38.5%[13] - The company reported a loss before tax of HKD 5,056,000 for the nine months ended September 30, 2023, compared to a loss of HKD 8,834,000 in the same period of 2022[30] Revenue Breakdown - For the three months ended September 30, 2023, air freight forwarding service revenue was HKD 202,774,000, a 53% increase from HKD 132,211,000 in the same period of 2022[26] - For the nine months ended September 30, 2023, total revenue reached HKD 529,752,000, a slight increase of 2.3% compared to HKD 517,774,000 in the same period of 2022[26] - The air freight forwarding segment reported a gross profit of HKD 28,233,000 for the nine months ended September 30, 2023, compared to HKD 19,625,000 in the same period of 2022, reflecting a 44% increase[30] - The sea freight forwarding segment generated revenue of HKD 9,460,000 for the nine months ended September 30, 2023, down 87% from HKD 73,475,000 in the same period of 2022[30] - Revenue from major customers contributing 10% or more to total revenue was HKD 256,281,000 for the nine months ended September 30, 2023, compared to HKD 248,064,000 in the same period of 2022[37] - Total export revenue for the nine months ended September 30, 2023, was HKD 529,474,000, an increase from HKD 517,243,000 in the same period of 2022[35] - Revenue from Europe for the nine months ended September 30, 2023, was HKD 162,267,000, a decrease of 14.3% from HKD 189,304,000 in the same period of 2022[35] Expenses and Costs - Administrative and other operating expenses for the nine months ended September 30, 2023, were HKD 34.8 million, compared to HKD 31.0 million in the same period of 2022[12] - The company's total service costs for the third quarter of 2023 were approximately HKD 499.5 million, slightly up from HKD 495.6 million in the same quarter of 2022[53] - The company’s financing costs for the nine months ended September 30, 2023, totaled HKD 1,561 million, compared to HKD 1,206 million for the same period in 2022[40] - Administrative and other operating expenses increased by approximately 12.3% to about HKD 34.8 million, compared to HKD 31.0 million in the third quarter of 2022, primarily due to the resumption of normal operations[57] Foreign Exchange and Equity - The group experienced a foreign exchange loss of HKD 4.8 million for the nine months ended September 30, 2023, compared to a loss of HKD 3.9 million in the same period of 2022[12] - As of September 30, 2023, the total equity decreased to HKD 126,239,000 from HKD 136,513,000 at the beginning of the year, reflecting a decline of approximately 7.5%[13] - The cumulative exchange difference as of September 30, 2023, was a loss of HKD 6,388,000, compared to a loss of HKD 1,587,000 at the beginning of the year, reflecting a deterioration in foreign exchange positions[13] - The company’s retained earnings decreased to HKD (3,907,000) as of September 30, 2023, from HKD 1,566,000 at the beginning of the year, indicating a negative shift in profitability[13] Strategic Outlook - The group aims to enhance operational efficiency and expand its market presence in the upcoming quarters[11] - Future strategies include the development of new technologies and services to improve customer satisfaction and operational performance[11] - The board remains optimistic about the group's long-term growth potential despite current challenges[11] - The freight forwarding industry will continue to face challenges such as geopolitical issues, inflation, and capacity oversupply, leading to a need for innovative solutions to maintain competitiveness[62] - The company aims to strengthen its market position in Hong Kong and China by purchasing more freight capacity to meet customer demand[64] - The company will continue to improve its ability to secure freight capacity through closer collaboration with airlines[64] - The company will explore new supply chain routes and optimize operations to adapt to industry changes[62] Corporate Governance - The company was incorporated in the Cayman Islands and listed on the GEM of the Hong Kong Stock Exchange on January 13, 2021, focusing on integrated logistics services[15] - The financial statements were prepared in accordance with the Hong Kong Financial Reporting Standards and applicable GEM listing rules[16] - The company has not adopted any new or revised Hong Kong Financial Reporting Standards that would have a significant impact on the financial statements for the current period[21] - The company anticipates that the revised accounting policies will affect the disclosures in the annual consolidated financial statements for the year ending December 31, 2023[24] - The board believes that having the same individual serve as both Chairman and CEO provides strong leadership and effective strategy planning[75] - The board will regularly review the need to separate the roles of Chairman and CEO to maintain good corporate governance[76] - The company has adopted a code of conduct for securities trading by directors, ensuring compliance with standard regulations[78] - All directors confirmed compliance with trading regulations during Q3 2023, with no known violations by senior management[78] - The audit committee reviewed the unaudited consolidated financial statements for Q3 2023, affirming adherence to applicable accounting standards and GEM listing rules[81] Shareholder Information - As of September 30, 2023, Mr. Zhao and Ms. Wang each hold 225,000,000 shares, representing 75% ownership[65] - Profit Virtue and Peak Connect each hold 112,500,000 shares, representing 37.5% ownership[70] - The company has not purchased, sold, or redeemed any shares in Q3 2023[62] - The company did not declare or pay any dividends for the nine months ended September 30, 2023[45] - No dividends were recommended for Q3 2023, consistent with Q3 2022[63] - The weighted average number of ordinary shares used for calculating basic and diluted earnings per share remained at 300 million shares for both the third quarter of 2023 and 2022[44]
裕程物流(08489) - 2023 Q3 - 季度财报