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Thursday, 8 August 2019, 18:18 HKT/SGT
Goal Rise Logistics H1 Revenue Rises 15.3% to RMB109 Million; The Company Has Applied to Transfer Its Listing to The Main Board

HONG KONG, Aug 8, 2019 - (ACN Newswire) - An established logistics service provider in the PRC, Goal Rise Logistics (China) Holdings Limited ("Goal Rise Logistics" or the "Company", stock code: 8457, together with its subsidiaries, the "Group") announced its unaudited revenue for the six months ended 30 June 2019 (the "Period") surged by 15.3 per cent year-on-year to approximately RMB108,571,000. The profit attributable to owners of the Company was approximately RMB5,892,000 (2018 corresponding period: approximately RMB7,429,000). During the Period, basic earnings per share were RMB0.74 cent (2018 corresponding period: RMB0.93 cent).

The Group achieved satisfactory results during the Period mainly due to year-on-year increases in the revenue of transportation services and in-plant logistics services. The Group derived its revenue mainly from the transportation, warehousing, in-plant logistics and customisation services segments, which accounted for 50.5 per cent, 17.8 per cent, 31.3 per cent and 0.4 per cent of the revenue respectively. During the Period, revenue generated form the transportation services was approximately RMB54,818,000, representing a year-on-year increase of approximately 30.6 per cent. The increase in the transportation services was mainly attributable to the increased customers' orders for the international freight forwarding agency services during the Period. Moreover, the Group also recorded additional revenue generated from the expansion of transportation business overseas in Egypt during the Period. Revenue generated from the Group's in-plant logistics services during the Period was approximately RMB34,044,000, up by 9.9 per cent year-on-year, which was mainly contributed by the increase in orders from customers. Due to the decrease in leasable storage area owing to the expiration of the lease of one of the Group's warehouses which had not been renewed since the end of 2018, revenue generated from the warehousing services was adjusted by approximately 6.6 per cent and reached approximately RMB19,306,000. On the other hand, customisation services recorded a revenue of approximately RMB403,000 during the Period.

In connection with upgrading one of the warehouses to strengthen the provision of quality logistics services to our customers, the Group had completed initial upgrade works on the construction of infrastructure facilities and contracted with service providers for the design and installation of automated storage facilities and software systems enhancement in one of the warehouses. The Group had participated in the tendering process of potential customers in North China and East China, including several large customers from various industries (including beverage, textile and pharmaceutical businesses). The Group had also set up a sales and marketing department to oversee the Group's existing and potential customer base as well as visit customers' operation plants in both the PRC and overseas. In late 2018, the Group set up a company in Egypt aiming at expansion of its logistics business overseas and currently the Group offers local logistics management services and international freight forwarding agency services in Egypt.

Looking ahead, Mr Li Jianxin, the Chairman of Goal Rise Logistics, said: "The Group will continue to enhance its competitiveness and strengthen its market position in the logistics industry in the PRC, by capitalising on the continued expansion and development of automated storage facilities and systems in its warehouse. In addition, we will continue to provide quality services to our current customers and actively explore new customers, The Group will also fully leverage the strengths of the company in Egypt to provide freight forwarding agency services to more Chinese enterprises in the region. On the other hand, we are committed to diversifying the logistics services of the Group to a broader spectrum of industries, while exploring and accommodating customers' development needs to grasp the business opportunities in the logistics market."

On 26 April 2019, Goal Rise Logistics submitted a formal application to The Stock Exchange of Hong Kong Limited ("the Stock Exchange") for the proposed transfer of listing of shares from GEM to the Main Board of the Stock Exchange pursuant to Chapter 9A and Appendix 28 of the Rules Governing the Listing of Securities on the Stock Exchange.

Mr Li said: "We are of the view that the transfer of listing will help enhance the Group's profile and the attractiveness of the Company's shares to institutional and retail investors. We expect that the Main Board trading platform will lead to greater trading liquidity of the Company's shares, and that the listing of the Company's shares on the Main Board will be beneficial to the future growth, business development as well as financial flexibility of the Group."

About Goal Rise Logistics
Goal Rise Logistics is an established logistics service provider in the PRC. Founded in 1996, the Group offers a wide range of logistics services, including transportation, warehousing, in-plant logistics and customisation services. The Group serves customers from various industries, including pharmaceutical, fast-moving consumer goods, packaging, health and beauty and other industries. The shares of Goal Rise Logistics were listed on the GEM of the Stock Exchange in October 2017.

Topic: Press release summary
Sectors: Daily Finance, Daily News
From the Asia Corporate News Network

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