Financial Performance - For the six months ended June 30, 2022, the total revenue was approximately MYR 68.1 million, an increase of about 75.6% compared to the same period in 2021[3] - The gross profit for the same period was approximately MYR 8.0 million, reflecting a growth of about 77.0% year-on-year[3] - The company recorded a net loss of approximately MYR 3.9 million for the six months ended June 30, 2022[3] - The total comprehensive loss for the three months ended June 30, 2022, was MYR 2.1 million, compared to a loss of MYR 2.5 million in the same period of 2021[5] - The basic and diluted loss per share for the six months ended June 30, 2022, was 0.64 sen, compared to 3.3 sen for the same period in 2021[5] - For the six months ended June 30, 2022, the company reported a net loss of 4,118 thousand MYR, compared to a net loss of 4,053 thousand MYR for the same period in 2021[8] - The company reported a loss before tax of RM 4,053,000 for the six months ended June 30, 2022, compared to a loss of RM 4,118,000 in the same period of 2021, indicating a slight improvement[25] Revenue Breakdown - Revenue from freight forwarding and related services for the six months ended June 30, 2022, was 34,927 thousand MYR, an increase of 15.5% from 30,259 thousand MYR in 2021[13] - The company generated 17,991 thousand MYR from the sale of second-hand mobile phones in the first half of 2022, with this segment not having any revenue in the same period of 2021[13] - The manufacturing and trading of plastic products segment reported revenue of 15,224 thousand MYR for the six months ended June 30, 2022, up from 8,550 thousand MYR in 2021, representing an increase of 78.5%[13] - External customer revenue for the six months ended June 30, 2022, was RM 68,142,000, a significant increase from RM 38,809,000 in the same period of 2021, representing an increase of 75.5%[14] - The revenue from the freight forwarding and related services segment for the six months ended June 30, 2022, was RM 52,918,000, up from RM 30,259,000 in 2021, reflecting a growth of 74.8%[18] - Revenue from the sale of second-hand mobile phones was RM 17,991,000 for the six months ended June 30, 2022, compared to RM 0 in 2021, indicating a new revenue stream[18] - Revenue from the manufacturing and trading of plastic products for the six months ended June 30, 2022, was RM 15,224,000, up from RM 8,550,000 in 2021, marking an increase of 77.5%[18] - Revenue from air freight services accounted for approximately 52.9% of total logistics revenue in the first half of 2022, compared to 42.1% in the same period of 2021[44] - The shipping service revenue for the six months ended June 30, 2022, was approximately MYR 14.7 million, up from MYR 13.8 million in the same period of 2021[37] - Revenue from the sale of second-hand mobile phones was approximately MYR 18.0 million for the six months ended June 30, 2022, representing about 26.4% of total revenue[42] Assets and Liabilities - Non-current assets as of June 30, 2022, totaled MYR 26.1 million, down from MYR 28.3 million as of December 31, 2021[6] - Current assets amounted to MYR 69.6 million as of June 30, 2022, slightly down from MYR 69.7 million at the end of 2021[6] - Total liabilities were MYR 30.1 million as of June 30, 2022, compared to MYR 31.1 million at the end of 2021[7] - The company's equity attributable to owners was MYR 63.4 million as of June 30, 2022, down from MYR 65.8 million at the end of 2021[7] - The total equity attributable to the owners of the company as of June 30, 2022, was 45,220 thousand MYR, a decrease from 43,163 thousand MYR as of January 1, 2022[8] - The company's total assets as of June 30, 2022, were 64,665 thousand MYR, compared to 66,853 thousand MYR as of January 1, 2022[8] - Trade payables as of June 30, 2022, totaled 16,164,000 MYR, compared to 14,634,000 MYR as of December 31, 2021[31] Cash Flow and Expenses - The company’s total cash flow from operating activities was a net outflow of 6,370 thousand MYR for the six months ended June 30, 2022, compared to an outflow of 5,794 thousand MYR in 2021[9] - Cash and cash equivalents decreased by 8,676 thousand MYR for the six months ended June 30, 2022, compared to a decrease of 1,122 thousand MYR for the same period in 2021[9] - The company incurred employee costs of RM 9,002,000 for the six months ended June 30, 2022, an increase from RM 7,223,000 in 2021, representing a rise of 24.6%[19] - Administrative expenses increased to approximately MYR 11.8 million in the first half of 2022 from MYR 8.3 million in the same period of 2021[53] - Financing costs for the six months ended June 30, 2022, totaled RM 483,000, compared to RM 385,000 in 2021, reflecting an increase of 25.5%[14] - The company reported a tax expense of RM 51,000 for the six months ended June 30, 2022, down from RM 122,000 in 2021, indicating a decrease of 58.2%[21] Strategic Initiatives - The company plans to continue expanding its logistics services in Malaysia and Hong Kong, focusing on international freight forwarding and related services[11] - The company has not reported any new product launches or significant technological advancements during this period[11] - The company is expanding its operations in Malaysia by hiring new sales personnel and establishing new offices in strategic locations[65] - The company has implemented a new integrated system, Sovy Logistic Solutions, to replace its previous freight management systems[68] - The company is actively monitoring foreign currency risks and considering hedging activities to mitigate the impact of exchange rate fluctuations on its operations[63] - The company has reallocated 11.8 million HKD to establish logistics operations in Hong Kong and 3.9 million HKD for further development in the same region[66] - The company has invested in a warehousing system to support e-commerce activities related to order management and fulfillment[69] Shareholder and Governance - Win All Management Limited holds a 29.73% stake in the company, indicating significant shareholder interest[74] - The company has a stock option plan in place, with 800,000 shares (0.13% of issued shares) available for issuance under this plan[76] - The company aims to attract and retain talented employees through its stock option plan, enhancing overall business performance[76] - The company confirmed that there are no direct or indirect competitive interests held by major shareholders or their close associates in any business that may compete with the group as of June 30, 2022[78] - All directors have confirmed compliance with the trading standards and the company's code of conduct regarding securities trading during the six months ended June 30, 2022[79] - The company has adhered to the corporate governance code as outlined in the GEM Listing Rules throughout the fiscal year[80] - An audit committee was established on June 17, 2016, consisting of independent non-executive directors, with responsibilities including reviewing financial statements and monitoring internal control procedures[81] - The interim financial statements have not been audited by the company's auditor but have been reviewed by the audit committee[82]
盛良物流(08292) - 2022 - 中期财报