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Public company info - World-Link Logistics (Asia) Holding Ltd. , 06083.HK
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World-Link Logistics (Asia) Holding Ltd., 06083.HK - Company Profile
Chairman Yeung Kwong Fat
Share Issued (share) 502,000,000
Par Currency Hong Kong Dollar
Par Value 0.01
Industry Warehousing & Logistic Services
Corporate Profile Business Summary: The Group is principally engaged in the integrated logistics service, packing services and general trading. Performance for the year: The revenue of the Group increased by approximately 27.0% from approximately HK$155.2 million for the year ended 31 December 2018 to approximately HK$197.2 million for the year ended 31 December 2019. The Group recorded a net profit of approximately HK$22.5 million for the year ended 31 December 2019, representing an increment of approximately 102.7% when compared to that for the year ended 31 December 2018. Business Review The Board is pleased to announce that in 2019, there is a substantial growth in the Group’s profit despite the flat growth rate in the retail sales of commodities in the supermarket sector. This flat growth rate has adversely affected the Group's business in the personal care sector of the FMCG segment which is one of the Group's focus. According to the Report entitled “Report on Monthly Survey of Retail Sales” for December 2019 released by the Census and Statistics Department, the Government of the Hong Kong Special Administrative Region, the value of total retail sales decreased by 11.1% in value over that of 2018 as a whole. To be more precise and related to the Group’s customer sectors, the provisional estimate of the value of sales of FMCG in supermarkets for 2019 increased by 0.7% when compared with that for 2018. The flat growth rate reflected the difficult environment for the personal care sector of the FMCG segment of the Group. Though facing such difficult environment, with the Group’s effort in attracting new customers and expanding its business with existing customers, the Group’s new business growth is 56.7% when compared with that in 2018. The Group has also achieved 20.8% organic growth. The new business growth is contributed by the revenue derived from a newly acquired company (Please refer to the Group's announcements dated 31 May 2019, 3 June 2019 and 31 July 2019 and the first paragraph on page 6 of this report for details of the acquisition) and other new customers which will be mentioned further in the following paragraph. The Group has laid a solid investment foundation in 2018. The sharp increase in revenue in 2019 showed the result of this solid investment foundation. Achievement in 2019 The Group continued its strategy to expand the food sector under the FMCG segment. In the beginning of 2019, the Group has started to provide total supply chain services to a new customer which is a multinational pet health nutrition manufacturer (the “New Pet Health Nutrition Customer”). This customer is the industry leader in the pet health nutrition industry. In the second half of the year, the Group has started to provide services to an existing customer (which is a world’s leading manufacturer of confectionery with headquarters in the United States) in respect of an extra brand of goods which are chewing gum and mints. These two customers helped the Group to expand its business in the food sector under the FMCG segment. The revenue of the food sector under the FMCG segment increased by 89.1% in 2019 when compared with that in 2018. In addition to providing business to business (“B2B”) services, the Group has started to provide business to customers (“B2C”) services i.e. home delivery services. During the year, the Group has started to provide home delivery services for a coffee capsule company which is headquartered in Switzerland. The Group has in the past specialized in providing total supply chain service to business customers, home delivery is a new area for the Group. This marked a milestone for the Group to expand from B2B services to B2C services as well. The Group will never forget the cold chain business segment. During the third quarter of 2019, the Group has successfully recruited another well-known chain restaurant company in Hong Kong and started to provide it with the Group's cold chain solution services. The Group’s cold chain solution services covered various types of restaurants which include Taiwanese restaurants, Vietnamese restaurants, Chinese restaurants, cha chaan tengs (茶餐廳) and fast food restaurants. The Group provides cold chain logistics services covering all over Hong Kong 7 days per week from 9:00 am to 21:00 pm. The management is confident that the cold chain business segment will remain a strong growth component of the Group in 2020. The Group will continue to improve the quality of the Group's services in order to expand the Group’s business and customer base. To be successful in the logistics industry, the Group never compromises the Group's quality. 2018 is a tough year for the Group. The Group are glad that the Group's customers continue to appreciate the Group's high quality service in 2019. Customers and ISO auditor provided good comments to the Company during 2019. In the April 2019 assessment, the New Pet Health Nutrition Customer praised the Group for the Group's reliable and efficient traceability system and accurate picking mechanism. An existing customer which is a multinational family-owned manufacturer of confectionery and pet care brands had positive observations and made good comments during the December 2019 audit. This customer emphasized that the Group managed to provide comprehensive information on the Group’s food management safety system. In the ISO 9001 Certification Audit which was conducted in August 2019, the auditor concluded that the Group has demonstrated the ability of the food management safety system in systematically achieving the agreed requirements for products or services within the scope and the Group’s policy and objectives. The Group has diversified into general trading business and has established a presence in Macau by acquiring a new company during the year. The newly acquired company engages mainly in general trading which includes wholesale and trading of daily necessities and medicine in Macau (the “Newly Acquired Company”). For details, please refer to the Group's announcements dated 31 May 2019, 3 June 2019 and 31 July 2019 in relation to the acquisition of a target company, (the “Announcements”). The Group will continue to expand this general trading business in 2020 and to diversify the logistics business to general trading segment as well. The Newly Acquired Company has helped the Group to carry out trading business in both Hong Kong and Macau. It is a strategic move. The Group will continue strive its best endeavours to obtain new business and to diversify its business in year 2020 which is a difficult year to come. Prospects: With the outbreak of the COVID-19 pandemic, it is expected that the operating results for 2020 will be adversely affected, though the Group is not yet able to reasonably quantify the potential magnitude of such impact on the Group's financial performance at the time of this annual report. However, the management is confident in the service level and team spirit of the Group in maintaining and getting new customers. With the high quality service level and the experienced team, the management is confident that the Group will be able to continue to provide the best services and support to the Group's customers during this difficult time. The Group will continue to actively devote its efforts to facilitate the prevention and control of further spreading of the COVID-19 pandemic in its premises and to ensure the health and safety of its employees. The Group will also strive its best endeavours to obtain new business and to diversify its portfolio to maintain a stable return to the shareholders. The Group will further develop the cold chain business segment in 2020 which is the Group's key focus and strategy in 2018 and 2019. The Group will make use of technology to carry out stringent cost control during the difficult year in 2020. Both new revenue and stringent cost control will help the Group to maintain a stable return to the shareholders in 2020.

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