Financial Performance - For the fiscal year ending December 31, 2023, the group's total revenue was approximately 116.4 million MYR, a decrease of about 13.6% compared to the same period in 2022[6]. - The gross profit for the fiscal year ending December 31, 2023, was approximately 7.6 million MYR, representing a decline of approximately 42.6% year-over-year[6]. - The group recorded a net loss of approximately 20.8 million MYR for the fiscal year ending December 31, 2023[6]. - The pre-tax loss for the fiscal year was approximately 20.8 million MYR, compared to a pre-tax loss of 13.5 million MYR in the previous year[7]. - The total comprehensive loss for the year was approximately 20.8 million MYR, compared to a comprehensive loss of 13.1 million MYR in the previous year[9]. - The basic and diluted loss per share for the year was 3.22 cents, compared to 1.98 cents in the previous year[9]. - The company reported a net loss attributable to owners of 20,402,000 MYR for 2023, compared to a loss of 12,551,000 MYR in 2022, indicating a deterioration in performance[44]. Revenue Breakdown - Total customer contract revenue decreased from 134,595 thousand MYR in 2022 to 116,351 thousand MYR in 2023, a decline of approximately 13.5%[24]. - Revenue from air freight and related services dropped significantly from 27,625 thousand MYR in 2022 to 8,461 thousand MYR in 2023, a decrease of about 69.4%[24]. - Revenue from the sale of second-hand mobile phones increased from 51,506 thousand MYR in 2022 to 67,770 thousand MYR in 2023, representing a growth of approximately 31.6%[24]. - Revenue from logistics services in Hong Kong was approximately 0.06 million MYR, a decrease of 96.0% compared to 1.6 million MYR in the previous year, representing about 0.1% of total revenue[61]. - Total revenue from integrated logistics services decreased by approximately 53.9% to about 26.4 million MYR for the fiscal year ending December 31, 2023, compared to 57.4 million MYR in the previous year[73]. - Revenue from the manufacturing and trading of plastic products was approximately 22.1 million MYR, down from 25.7 million MYR in the previous year[78]. - Revenue from the trading of second-hand mobile phones increased to approximately 67.8 million MYR, up from 51.5 million MYR in the previous year[81]. Assets and Liabilities - Non-current assets decreased from 19,605 thousand MYR in 2022 to 11,598 thousand MYR in 2023, a decline of approximately 40.8%[11]. - Current assets also saw a decrease from 62,671 thousand MYR in 2022 to 46,877 thousand MYR in 2023, representing a reduction of about 25.3%[11]. - Total liabilities decreased from 25,770 thousand MYR in 2022 to 19,979 thousand MYR in 2023, a decrease of approximately 22.5%[11]. - The company's net asset value dropped from 53,688 thousand MYR in 2022 to 36,469 thousand MYR in 2023, reflecting a decline of around 32.1%[13]. - The company's cash and bank balances decreased from 27,583 thousand MYR in 2022 to 21,681 thousand MYR in 2023, a decrease of approximately 21.4%[11]. - The company's equity attributable to owners decreased from 53,133 thousand MYR in 2022 to 36,256 thousand MYR in 2023, a decline of about 31.7%[13]. Expenses and Costs - The group experienced a significant increase in administrative expenses, totaling approximately 14.5 million MYR, compared to 14.0 million MYR in the previous year[7]. - The cost of goods sold increased to 61,760,000 MYR in 2023 from 45,308,000 MYR in 2022, reflecting a rise of 36.3%[42]. - The company recorded impairment losses on property, plant, and equipment amounting to 6,137,000 MYR in 2023, with no such losses reported in 2022[36]. Operational Highlights - The company operates primarily in Malaysia and Hong Kong, focusing on international freight forwarding and logistics services[17]. - The logistics services provided by the company include air and sea freight agency services, with a focus on enhancing market position in Hong Kong[51]. - The company is closely monitoring market conditions and making necessary adjustments to its strategies and operations[51]. - The company aims to establish a joint venture with Shui Fa Hua Xia Group to develop multiple projects, leveraging each party's core competencies[63]. - A proposed solar power plant project has been submitted for consideration as part of the collaboration with Shui Fa Hua Xia Group[64]. - Discussions are ongoing for a joint venture with Sui Yong International, with a proposed ownership structure of 51:49, focusing on investments in green energy and environmental sectors[65]. - A strategic cooperation agreement was signed with Zhong Wei Supply Chain to enhance supply chain business operations, leveraging the company's logistics service advantages[68]. - The company remains optimistic about the industry's recovery and aims to solidify its position as a comprehensive logistics solution provider in Hong Kong and Malaysia[70]. Risk Management - The company faces various risks including operational, market, liquidity, credit, and regulatory risks, with established risk management policies in place[93]. - The risk of not renewing licenses in Malaysia could hinder the provision of integrated logistics services, as the company requires various permits and approvals[95]. - The company has implemented risk management measures such as global positioning systems and insurance for cargo loss and damage[96]. - The company is exposed to increased freight and transportation costs influenced by fuel prices, exchange rates, and supply conditions, which may be passed on to customers[99]. - The company relies heavily on information technology for its logistics services, with disaster recovery plans in place to mitigate potential disruptions[100]. Corporate Governance - The board of directors did not recommend the payment of a final dividend for the fiscal year ending December 31, 2023[6]. - The company has complied with all applicable corporate governance codes throughout the fiscal year[122]. - The audit committee, consisting of independent non-executive directors, reviewed the annual performance for the year ending December 31, 2023, ensuring compliance with applicable accounting standards and GEM listing rules[123].
盛良物流(08292) - 2023 - 年度业绩