2023-09-19-港交所-圆通国际快递_中期报告_2023_70页_2mb

2 YTO International Express and Supply Chain Technology Limited Interim Report 2023

Company Information

Directors and Authorised Representatives

Executive Directors

• Mr. Yang Xinwei (楊新偉先生)
• Mr. Huang Yifeng (黃逸峰先生 - resigned on August 21, 2023)
• Mr. Sun Jian (孫建先生, CEO)

Non-Executive Directors

• Mr. Yu Huijiao (喻會蛟先生, Chairman)
• Mr. Pan Shuimiao (潘水苗先生)
• Ms. Wang Lixiu (王麗秀女士 - appointed on March 31, 2023)
• Mr. Su Xiufeng (蘇秀鋒先生 - appointed on August 21, 2023)
• Mr. Chen Dong (陳冬先生 - resigned on February 8, 2023)

Independent Non-Executive Directors

• Mr. Li Donghui (李東輝先生)
• Mr. Xu Junmin (徐駿民先生)
• Mr. Chung Kwok Mo John (鍾國武先生)

Company Secretary

• Ms. Wong Pui Wah (黃珮華女士)

Listing & Corporate Information

• Stock Code: 6123
• Registered Office: Cayman Islands
• Headquarters: Kowloon Bay, Hong Kong

Management Discussion and Analysis

Business Outlook & Challenges

1. Global economic recovery uncertain, hampered by stubborn inflation, rising interest rates and geopolitical tensions.
2. Trade and air cargo transport remain under supply-side pressure despite moderate recovery expectations.
3. China's economic policies are strengthening import/export development and consumer stimulation.

Financial Performance

• Revenue decreased by 28.3% to HK$2,467.6 million vs. HK$3,439.8 million (6M 2022).
• Gross profit down 17.8% to HK$299.6 million.
• Net profit attributable to shareholders decreased by 11.9% to HK$107.6 million, helped by one-time gains.

Segment Analysis (Summary)

• Air Freight: Largest segment, revenue down 21.4% due to reduced demand.
• Ocean Freight: Revenue dropped 69.1% due to lower container space demand.
• International Express & Parcel: Revenue increased 20.0% amidst electronic commerce growth.
• Logistics: Revenue decreased due to adjustments in warehouse operations.

Financial Position & Funding

• Strong financing policies in place with low average funding costs.
• Positive liquidity: Current ratio 2.55, bank balances HK$1,168.3 million increase of 17.0%.
• Debt-free operation with no outstanding borrowings.

Forward-Looking Commentary & Strategies

• Focus on consolidation, scaling key markets, enhancing e-commerce capabilities, promoting international supply chain development, and technology-driven transformation.

Others

• Compliance with corporate governance standards.
• Disclosures on related party transactions and fair value measurements.
• No material investments or exceptional events reported.
• Mid-year regulatory compliance status confirmed.