Financial Performance - Revenue for the six months ended September 30, 2023, was HKD 184.27 million, an increase of 5.8% compared to HKD 173.87 million for the same period in 2022[9] - The company reported a profit of HKD 2.44 million for the six months ended September 30, 2023, compared to a loss of HKD 6.94 million in the same period last year[9] - Basic earnings per share for the six months ended September 30, 2023, was HKD 0.47, improving from a loss per share of HKD 1.44 in the previous year[9] - The company experienced a total comprehensive income of HKD 2,682,000 for the six months ended September 30, 2023, compared to a total comprehensive expense of HKD 7,592,000 for the same period in 2022[14] - The company reported a net profit of HKD 2,443,000 for the six months ended September 30, 2023, compared to a loss of HKD 6,935,000 in the same period of 2022[38] - The company did not declare any dividends for the six months ended September 30, 2023[36] Revenue Breakdown - Revenue from air cargo terminal operations, transportation services, and warehousing and other value-added services contributed to the overall revenue, with warehousing services showing significant growth from HKD 55,107,000 to HKD 76,011,000 for the six-month period[24] - Revenue from Hong Kong for the six months ended September 30, 2023, was HKD 177,674,000, representing a 5.2% increase from HKD 169,017,000 in 2022[27] - Revenue from China increased significantly to HKD 6,596,000 for the six months ended September 30, 2023, compared to HKD 4,852,000 in the same period of 2022, marking a growth of 36%[27] Cash Flow and Financing - The company reported a net cash inflow from operating activities of HKD 13,897,000 for the six months ended September 30, 2023, compared to HKD 6,444,000 for the same period in 2022, reflecting a 115% increase[16] - Investment activities generated a net cash inflow of HKD 12,195,000 for the six months ended September 30, 2023, compared to a cash outflow of HKD 2,579,000 in the previous year[16] - The company’s financing costs for the six months ended September 30, 2023, were HKD 1.83 million, up from HKD 1.50 million in the same period last year[9] - The company’s financing activities resulted in a net cash outflow of HKD 21,980,000 for the six months ended September 30, 2023, compared to HKD 17,008,000 in the previous year[16] Assets and Liabilities - Trade and other receivables increased to HKD 54.72 million as of September 30, 2023, from HKD 51.38 million as of March 31, 2023[11] - Total assets less current liabilities improved to HKD 60.59 million as of September 30, 2023, compared to HKD 45.99 million as of March 31, 2023[11] - The company’s non-current assets decreased to HKD 59.22 million as of September 30, 2023, from HKD 60.50 million as of March 31, 2023[11] - As of September 30, 2023, the company's non-current liabilities increased to HKD 17,136,000 from HKD 12,559,000 as of March 31, 2023, representing a 36.5% increase[12] - The net asset value rose to HKD 43,451,000 as of September 30, 2023, compared to HKD 33,436,000 as of March 31, 2023, indicating a growth of 30%[12] Operational Efficiency - The company plans to continue expanding its market presence and investing in new technologies to enhance operational efficiency[9] - The newly established warehouses in Tuen Mun, Hong Kong, and Shantou, China, have successfully commenced operations, contributing to revenue growth[58] - The overall economic environment in Hong Kong remains challenging, with average year-on-year declines of approximately 9.7% and 8.3% in total import and export volumes, respectively[57] Employee and Operational Costs - Employee benefit expenses for the six months ended September 30, 2023, were HKD 23.21 million, slightly increasing from HKD 23.03 million in the previous year[9] - The total employee cost for the six months ended September 30, 2023, was approximately HKD 22.4 million, slightly up from approximately HKD 22.2 million for the same period in 2022[81] - Dispatch labor costs decreased by approximately HKD 1.4 million or 2.2% to about HKD 62.2 million for the current period, attributed to strict cost control measures[67] - Transportation costs decreased by approximately HKD 3.0 million or 4.4% to about HKD 64.9 million for the current period, due to a reduction in business volume[70] - Warehousing operating costs increased by approximately HKD 2.9 million or 22.9% to about HKD 15.8 million for the current period, mainly due to expenses from two newly established warehouses[71] Share Capital and Ownership - The company completed a share placement on May 16, 2023, raising approximately HKD 7,536,000 through the issuance of 48,000,000 shares at HKD 0.157 per share[15] - The group’s issued share capital increased to HKD 5,280,000 as of September 30, 2023, from HKD 4,800,000 as of March 31, 2023, following the issuance of 48,000,000 new shares[52] - 3C Holding Limited holds 330,120,000 shares, representing approximately 62.5% of the company's issued share capital[95] - Kwan Cheng Limited owns about 5.7% of the company's total issued share capital, equating to 29,880,000 shares[96] Compliance and Governance - The audit committee has reviewed the unaudited condensed consolidated financial statements for the six months ended September 30, 2023, ensuring compliance with applicable accounting standards and GEM Listing Rules[108]
亚洲速运(08620) - 2024 - 中期财报