Revenue Performance - The air freight forwarding business remains the largest segment of the group, accounting for approximately 54.0% of total revenue in the fiscal year 2023, down from 54.9% in fiscal year 2022[1]. - Revenue from the air freight forwarding business was approximately HKD 2,857.9 million in fiscal year 2023, a decrease of about 22.3% compared to HKD 3,681.3 million in fiscal year 2022[1]. - International express and parcel services accounted for approximately 30.8% of total revenue in the fiscal year 2023, up from 16.5% in fiscal year 2022, with revenue increasing by 47.4% to approximately HKD 1,630.5 million[22]. - Revenue from other businesses, including express delivery and e-commerce, was approximately HKD 117.2 million in fiscal year 2023, showing a slight increase of 1.0% from HKD 116.2 million in fiscal year 2022[24]. - The shipping and freight forwarding business contributed approximately 12.2% to total revenue in fiscal year 2023, down from 25.9% in fiscal year 2022, with revenue decreasing by 62.7% to approximately HKD 647.6 million[28]. - The logistics services segment generated revenue of approximately HKD 38.4 million in the fiscal year 2023, a decrease of 42.9% compared to HKD 67.2 million in fiscal year 2022, primarily due to weakened demand from upstream customers[29]. - The group's revenue for the fiscal year 2023 was approximately HKD 5,291.6 million, a decrease of about 21.1% compared to HKD 6,706.5 million in fiscal year 2022[51]. - Total revenue for 2023 was HKD 5,291,610, a decrease of 21.0% from HKD 6,706,450 in 2022[78]. Profitability - The gross profit for the air freight forwarding segment increased from approximately HKD 156.9 million in fiscal year 2022 to about HKD 192.6 million in fiscal year 2023, representing a growth of approximately 22.8%[1]. - The company recorded a profit attributable to equity shareholders of approximately HKD 96.8 million in fiscal year 2023, a decrease of about 29.2% from HKD 136.7 million in fiscal year 2022[51]. - The total comprehensive income for the year was HKD 92.337 million in fiscal year 2023, compared to HKD 115.733 million in fiscal year 2022[61]. - The company reported a net profit of HKD 121,452, a decrease of 13.7% from HKD 140,777 in 2022[78]. - Net profit for fiscal year 2023 decreased by approximately 31.0% to about HKD 96.5 million, compared to HKD 139.8 million in fiscal year 2022[94]. - Gross profit for fiscal year 2023 was approximately HKD 481.3 million, down about 11.4% from HKD 543.3 million in fiscal year 2022, with a gross margin of approximately 9.1%[94]. Operational Efficiency - Operating cash flow for fiscal year 2023 was approximately HKD 245.9 million, a decrease from HKD 698.6 million in fiscal year 2022[25]. - The company's operating capital as of December 31, 2023, was approximately HKD 1,174.0 million, a 7.5% increase from HKD 1,092.4 million on December 31, 2022[25]. - The current ratio improved from approximately 2.11 times on December 31, 2022, to approximately 2.35 times on December 31, 2023[25]. - Trade receivables increased to HKD 1,044.855 million in fiscal year 2023 from HKD 788.987 million in fiscal year 2022[65]. - Trade payables at the end of the reporting period totaled HKD 450.6 million, compared to HKD 251.8 million in the previous year[90]. - The company provided an average credit period of 30 days to its trade customers[85]. Strategic Initiatives - The company aims to enhance its supply chain capabilities through capital investment and partnerships, focusing on key regions such as Central Asia, Europe, the Middle East, and Southeast Asia[5]. - The company plans to develop a global integrated logistics network, with key nodes in various international and domestic locations, aiming for completion by 2026[16]. - The company will focus on enhancing its service network and operational layout to support international development and integration[14]. - The company plans to establish "advantage boutique dedicated lines" in regions including Taiwan, Japan, Australia, the United States, Southeast Asia, and Central Asia, enhancing global service capabilities through strategic partnerships and acquisitions over the next 3-5 years[17]. - The company aims to strengthen its competitive advantage in international air transport by enhancing cooperation with its subsidiary, YTO Airlines, and introducing more wide-body freighters for intercontinental routes[35]. - The company plans to enhance its investment in technology to solidify existing businesses and promote new business development, aiming for value multiplication through technology output and empowerment[31]. Market Outlook - According to IATA, global air passenger traffic increased by 36.9% in 2023 compared to 2022, recovering to 94.1% of pre-pandemic levels in 2019[4]. - The global air cargo demand grew by 10.8% in December 2023 compared to December 2022, marking the strongest annual growth performance in the past two years[4]. - The international air transport market is recovering, with international tourism expected to reach 1.3 billion visitors in 2023, approximately 88% of pre-pandemic levels[32]. - The World Bank forecasts global economic growth to slow from 2.7% in 2023 to 2.4% in 2024, with a potential recovery to 2.7% in 2025[10]. - The company believes that despite global economic uncertainties, there is a cautious optimism for future business growth due to the gradual recovery of the global economy and the easing of negative factors[10]. Corporate Governance - The company has adhered to the corporate governance code throughout the fiscal year 2023[43]. - The company has not undertaken any capital expenditure commitments as of December 31, 2023[34]. - There were no purchases, redemptions, or sales of the company's listed securities during the fiscal year 2023[38]. Employee and Expense Management - Employee expenses for the fiscal year 2023 amounted to approximately HKD 276.3 million, a decrease from HKD 302.5 million in fiscal year 2022, with the workforce increasing to about 978 employees from 867[37]. - The company incurred a tax expense of HKD 22,650, down from HKD 35,603 in 2022[79].
圆通国际快递(06123) - 2023 - 年度业绩