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Tradelink Electronic Commerce Limited
貿易通電子貿易有限公司
Management Discussion and Analysis
管理層討論及分析
Business Review
Highlights of the Group’s business during the period under review are:
Tradelink
Our GETS operations during the first six months of 2015 were affected by a
weakening of the overall GETS market, down by 2% year-on-year. This, plus
the loss of one of our major clients and the termination of the TTRS by the
Government, reduced our GETS revenue for the period by about 5%. Our other
trade-related services, however, remained steady, recording a modest gain,
from HK$9.3 million for the first half of 2014 to HK$9.5 million for the period.
The weakness in Hong Kong’s external trade sector undermined our effort to
continue the uptrend in the Group’s GETS revenue which we achieved last year
and is a disappointment. While we will try our best to achieve an uptrend for
the whole year despite the first half result, much will depend on overall market
conditions, over which we have no control, during the remainder of this year.
Therefore, rather than pin all our hopes on a timely turnaround of the external
trade sector, prudence demands our devoting additional resources to improving
our other revenue sources in anticipation of a shortfall in the Group’s GETS
revenue for the year.
DTTN
Revenue from our DTTN services during the period also declined, with revenue
falling from HK$6 million for the first half of 2014 to just over HK$5 million this
year, a drop of some 15%. The main cause of this was some technical issues
related to our business of sourcing products for customers, a very low margined
business. The decline in revenue thus had little effect on DTTN profitability. As a
matter of fact, despite the 15% decline in revenue, DTTN’s reportable segment
profit for the period actually rose, from HK$2.4 million during the first half of
2014 to HK$3.7 million for the period under review, an increase of over 50%.
The technical issues affecting our sourcing business have now largely been
resolved and we expect DTTN revenue to catch up during the remainder of this
year. In addition, with a number of major projects scheduled for completion in
the second half of this year, DTTN revenue for the whole year should continue to
grow.
Regarding our B2C E-commerce platform, iTeM, enhancement work in white
labeling it as the merchant directory of one of the major international credit card
operators is close to completion. Meanwhile discussions with banks to sign up
their merchants onto this directory are progressing smoothly with the support our
partnership with this credit card operator. The merchant directory running on our
platform is expected to be launched during Q3 of this year. Other joint services
are either in the process of development or under exploration. This too will form
a new business initiative for the Group.
業務回顧
本集團回顧期內的業務表現摘要：
貿易通
二零一五年上半年，
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
TTRS
，因此我們的
GETS
收入減少約
5%
。然而，
我們的其他貿易相關服務表現維持穩定，盈利由二零一四
年上半年的港幣
9,300,000
元略增至期內的港幣
9,500,000
元。
香港外貿市場低迷，影響我們延續從去年開始
GETS
收入上
升的勢頭，這是令我們失望的。儘管上半年業績稍遜，我們
仍會努力爭取達致全年業績向上，但成功與否取決於下半年
的整體市況。由於市況非我們所能控制，與其寄望外貿行業
及時好轉，我們會審慎投入更多資源提升其他收入來源，以
彌補本集團本年度
GETS
收入的預期減幅。
DTTN
期內
DTTN
服務收入亦由二零一四年上半年的港幣
6,000,000
元下降約
15%
至本年度略超過港幣
5,000,000
元，主要是由於為客戶採購產品的業務出現若干技術問題，
由於該業務利潤率甚低，故對
DTTN
利潤的影響甚微。事實
上，即使收入下降
15%
，期內
DTTN
可呈報分部溢利同比增
長逾
50%
，由二零一四年上半年的港幣
2,400,000
元增至回
顧期內的港幣
3,700,000
元。
影響我們這採購業務的技術問題現已大致解決，我們預期下
半年
DTTN
收入將會收復失地。此外，多個大型項目預計可
於下半年完成，故
DTTN
全年收入應會恢復增長。
至於我們企業對消費者（「
B2C
」）的電子商貿平台
iTeM
，我
們為一家大型國際信用卡營運商將平台包裝作其商戶目錄的
改進工作將近完成。另一方面，得到合夥的信用卡營運商支
持，我們與銀行磋商將其商戶加入該商戶目錄，現時磋商進
展順利，該建基於我們平台的商戶目錄預期於今年第三季推
出。我們亦正開發或探討其他聯營服務，此等將成為本集團
的新業務項目。