Financial Performance - Wan Leader International Limited reported unaudited condensed consolidated financial results for the six months ended September 30, 2023, with comparative figures for the same period in 2022[17]. - The Group's revenue for the Review Period was significantly impacted, with specific figures not provided in the extracted content[17]. - The financial performance includes a detailed analysis of profit or loss, but specific numerical results are not available in the extracted content[17]. - Revenue for the three months ended September 30, 2023, was HK$46,158,000, a decrease of 2.1% compared to HK$47,164,000 in the same period of 2022[19]. - Gross profit for the six months ended September 30, 2023, was HK$949,000, compared to HK$434,000 in the same period of 2022, indicating a significant improvement[19]. - Loss before taxation for the three months ended September 30, 2023, was HK$6,761,000, slightly improved from a loss of HK$7,844,000 in the same period of 2022[19]. - For the six months ended September 30, 2023, the company reported a loss of HK$14,188,000, compared to a loss of HK$11,142,000 for the same period in 2022, representing an increase in loss of 27.5%[24]. - The total comprehensive expenses for the period amounted to HK$14,313,000, which includes an exchange difference of HK$125,000 from foreign operations[30]. - The total loss before taxation for the six months ended 30 September 2023 was HK$14,242,000, compared to a loss of HK$10,798,000 in the previous year[53]. - The Group recorded a net loss of approximately HK$14.2 million for the six months ended 30 September 2023, compared to a net loss of approximately HK$11.1 million for the same period in 2022, indicating a deterioration in financial performance[121]. Revenue Breakdown - Total revenue for the six months ended 30 September 2023 was HK$83,880,000, a decrease of 38.6% compared to HK$136,500,000 for the same period in 2022[51]. - Revenue from freight forwarding and related logistics services was HK$82,753,000, down 38.8% from HK$135,265,000 in the previous year[53]. - Revenue from entrusted management services for operating an online e-commerce platform was HK$0 for the current period, down from HK$1,235,000 in the previous year[53]. - Trading of fashion items generated revenue of HK$1,127,000 for the six months ended 30 September 2023, with no revenue reported in the same period last year[53]. - Revenue from air freight forwarding and related logistics services amounted to approximately HK$80.1 million, accounting for approximately 95.5% of total revenue, down from approximately HK$119.2 million in the previous period[134]. - Revenue from sea freight forwarding and related logistics services decreased to approximately HK$2.7 million, representing approximately 3.2% of total revenue, down from approximately HK$16.1 million[135]. Expenses and Liabilities - Total comprehensive expenses for the six months ended September 30, 2023, amounted to HK$14,313,000, compared to HK$11,230,000 in the same period of 2022, reflecting an increase of 27.6%[21]. - Current liabilities rose to HK$40,206,000 as of September 30, 2023, compared to HK$20,750,000 as of March 31, 2023, indicating a significant increase of 93.5%[23]. - The company reported an increase in sales and marketing expenses to HK$3,140,000 for the six months ended September 30, 2023, compared to HK$2,392,000 in the same period of 2022[19]. - Administrative expenses increased to approximately HK$12.0 million for the Review Period from approximately HK$10.2 million for the Previous Period, mainly due to an increase in professional fees of approximately HK$2.0 million[146]. - Trade payables increased significantly to HK$28,552,000 as of September 30, 2023, up from HK$12,707,000 as of March 31, 2023, reflecting a growth of 125.5%[99]. Cash Flow and Financing - Net cash used in operating activities was HK$6,670,000, compared to net cash generated of HK$3,172,000 in the previous year, indicating a significant decline in operational cash flow[30]. - The company reported a net cash inflow from financing activities of HK$6,633,000, down from HK$26,749,000 in the prior year, reflecting reduced financing activity[30]. - Cash and cash equivalents at the end of the period were HK$25,837,000, a decrease from HK$73,250,000 at the end of the previous year[30]. - The Group's total bank borrowings were approximately HK$1.0 million as of September 30, 2023, down from HK$1.7 million as of March 31, 2023[172]. - The net proceeds from the placing of new shares on April 6, 2023, amounted to approximately HK$7.67 million, fully utilized for general working capital[176]. Compliance and Governance - The report emphasizes the importance of compliance with GEM Listing Rules, ensuring the accuracy and completeness of the information presented[5]. - The Board of Directors collectively accepts full responsibility for the report's contents, confirming no misleading or deceptive information is included[5]. - The Interim Financial Statements have not been audited but have been reviewed by the Company's audit committee[38]. - The Group has not early adopted new/revised HKFRSs that have been issued but are not yet effective as of the date of authorization of the Interim Financial Statements[40]. Market and Economic Conditions - Demand for cargo spaces has dropped during the Review Period due to slow recovery of the global economy and trading following the COVID-19 pandemic[121]. - The economic conditions for the remainder of the year are expected to be challenging, particularly due to political and economic relationships between the PRC and the USA[122]. - The Group remains optimistic about long-term consumer demand connecting Mainland China with the rest of the world, despite current uncertainties[122]. Share Capital and Equity - The total issued and fully paid shares increased from 990,000,000 shares (HK$9,900,000) at 1 April 2023 to 1,102,830,000 shares (HK$11,028,300) at 30 September 2023, reflecting a capital increase[112]. - The Group's share premium account increased by approximately HK$6,883,000 from the placement of 112,830,000 shares at HK$0.071 per share completed on 18 May 2023[112]. - The Group's total equity attributable to owners as of September 30, 2023, was HK$55,089,000, down from HK$61,714,000 as of April 1, 2023[24]. Risks and Uncertainties - The Group is exposed to foreign exchange risks due to transactions in multiple currencies, including USD, EUR, and RMB, but does not maintain a specific hedging policy[181]. - The Group's management closely monitors foreign exchange exposure and will consider hedging significant foreign currency exposure if necessary[181].
万励达(08482) - 2024 - 中期财报