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Tradelink Electronic Commerce Limited
貿易通電子貿易有限公司
Chairman’s Statement
主席報告書
Dear Shareholders,
The Group’s operations during the first half of 2015 were affected by a weak
Government Electronic Trading Services (“GETS”) market, with the overall market
dropping 2% year-on-year. This, combined with the loss of one of our major
clients and the termination of the Textiles Trader Registration Scheme (“TTRS”) by
the Government, caused a 5% slip in our core GETS revenue. However, revenue
for the period, at HK$110 million, was only down 0.8% on the same period
last year as the bulk of the downturn in GETS revenue was covered by better
results in other areas. The result clearly shows that our income performance,
although remaining exposed to Hong Kong’s external trade performance, has
become much more resilient as a result of our efforts to diversify and improve
revenue sources in recent years.
While we were able to hold our costs for the period, down by about 2.2%
year-on-year to HK$78.2 million, operating profit for the period came in lower
than last year in the absence of any profit from the trading of our bond portfolio
– some HK$3.7 million was made from this source during the same period last
year. Profit after tax for the first half of 2015 thus fell by about HK$1 million to
HK$37 million.
The weakness of the overall GETS market, exacerbated by the loss of our major
client and all TTRS revenue, is likely to undermine our hope of continuing the
reversal in our GETS revenue which we started last year. While every effort
is being made to protect this uptrend, success will depend on the relative
performance of the overall GETS market for the remainder of the year. As we
have no control over this, rather than pinning our hopes on a timely turnaround
in Hong Kong’s external trade, additional resources is being put into ensuring
that our non-GETS business continue the growth achieved during the first half of
2015.
At Digital Trade and Transportation Network (“DTTN”), while revenue fell by
around 15% year-on-year during the first half of 2015, the decline was due
almost entirely to a delay in finalizing a contract for the on-sale of some technical
products, a very low margined business. This had no impact on our performance
as DTTN profitability during the period actually increased by over 50% year-
on-year. Revenue growth should be resumed during the second half of this year
as the problem has now been resolved and as a number of major projects are
scheduled for completion during the second half of this year.
As foreshadowed in my statement last year, revenue at Digi-Sign Certification
Services Limited (“Digi-Sign”) and Tradelink E-Biz Secure Solutions Limited (“TESS”)
recovered strongly during the first half of 2015, growing from around HK$10.5
million to HK$14.8 million, or up by nearly 40% compared with the same
period last year. I expect this strong growth to continue as we roll-out our mobile
Point-of-Sale (“PoS”) during Q4 of this year and complete the bulk of our E-cheque
project work.
致各位股東：
二零一五年上半年，政府電子貿易服務（「
GETS
」）市場
疲弱，整體較去年同期下跌
2%
，本集團業務因此受到拖
累，加上流失一名主要客戶以及政府撤銷紡織商登記方案
（「
TTRS
」）服務，令我們的核心
GETS
收益下滑
5%
。然而，由
於
GETS
收益減幅大部份被其他上升業務所彌補，致使期內
收益較去年同期僅減少
0.8%
至港幣
110,000,000
元。足證
我們雖然仍受到香港外貿表現所影響，有賴近年致力分散及
增加收入來源，我們的收入的抗逆力已大大增強。
雖然期內我們能成功控制成本，較去年同期下降約
2.2%
至港幣
78,200,000
元，但因期內我們所買賣的債券組合
並沒有錄得利潤，而去年同期相關收入獲得利潤約港幣
3,700,000
元，故期內經營溢利不及去年，二零一五年
上半年除稅後溢利因而減少約港幣
1,000,000
元至港幣
37,000,000
元。
整個
GETS
市場低迷，加上流失一名主要客戶及所有
TTRS
的
收入，將會削弱我們對延續去年開始
GETS
收入回升的期
望。儘管我們仍會全力維持這升勢，但成功與否取決於下半
年整個
GETS
市場的相對表現。既然這是我們無法控制的，
與其寄望香港外貿及時轉好，我們會投入更多資源努力確保
非
GETS
業務可以維持二零一五年上半年的增長。
二零一五年上半年，數碼貿易運輸網絡（「
DTTN
」）收益比同
期下降約
15%
，幾乎全因一份轉售技術產品合約延遲的問題
所致，但因該業務利潤率甚低，故並不影響我們的表現，期
內
DTTN
溢利實際同比增長逾
50%
。上述問題現已解決，加
上多個大型項目預計可下半年完成，故下半年收入應會恢復
增長。
一如本人二零一四年年度報告書所預測，電子核證服務
有限公司（「
Digi-Sign
」）及貿易通電子商務資訊保有限公司
（「
TESS
」）收入於二零一五年上半年大幅回升，由大約港幣
10,500,000
元增至港幣
14,800,000
元，較去年同期增長
約
40%
。隨著我們於年內第四季度推出流動銷售點，加上完
成大部分的電子支票項目工作，預計收入會持續強勁增長。