貿易通 2021 年中報

Management Discussion and Analysis (Continued) 管理層討論及分析 （續） 09 二零二一年中期報告 貿易通電子貿易有限公司 供應鏈應用方案於上半年錄得子分部收益為港幣 6,900,000 元，較去年同期的港幣 9,200,000 元下跌 24.8% 。除經常性收益外，金額包括正在進行（「正 在進行」）項目所確認的收益。主要正在進行的項 目為去年底知名集團確認的倉庫管理系統（「倉庫 管理系統」）╱運輸管理系統（「運輸管理系統」）。 我們的倉庫管理系統╱運輸管理系統旨在促進管 理客戶的飲品以及消費及工業貨品的倉庫營運及 配送。我們的項目進展順利，預計年底完工。即 使此業務子分部的收益按年明顯下跌 24.8% 或港 幣 2,300,000 元，但去年的數字實際上包括四向穿 梭車收費，其為我們的主要零售客戶支付自動化 倉庫解決方案項目訂購的硬件。倘不計及此項一 次性收費項目，供應鏈應用方案子業務分部於報 告期錄得的收益大致與去年的收益相若。 鑑於二零二一年迄今以來市場發展正面，我們對 GETS 業務下半年的前景持合理樂觀態度。根據國 際貨幣基金組織於四月初的預測，儘管與疫情相 關的不確定性仍然存在，全球經濟預期於二零 二一年反彈 6% 。目前已發表的經濟數據及預測均 指出全球經濟衰退後強勁復甦，惟於不同市場及 業務板塊有所不同。雖然整體 GETS 市場於二零 二一年下半年的增長幅度不大可能維持如首六個 月 22% 的高水平，但我們預期與二零二零年同期 相比，仍將會持續增長。誠如二零二零年年報所 述， GETS 市場於二零二零年下半年有所改善，近 乎回復至二零一九年同期的相同水平，其時香港 經濟遭受中美貿易糾紛及本地社會問題衝擊。二 零二一年下半年將以「較高」基數進行比較。然 而，一般而言，二零二一年全年 GETS 市場整體會 有雙位數增長乃屬合理假設。縱使 GETS 市場的競 爭環境一直以來相對穩定，可是仍面對主要快遞 客戶業務量不斷上升而拉低平均價格的挑戰。話 雖如此，本集團仍然對 GETS 業務於二零二一年的 前景持樂觀態度。 As for the Supply Chain Solutions, it recorded sub-segmental revenue of HK$6.9 million for the first half year, down 24.8% from HK$9.2 million for the same period last year. On top of recurrent revenue, the amount included revenue recognised for work-in-progress (“WIP”) projects. A major WIP project was the Warehouse Management System (“WMS”)/ Transportation Management System (“TMS”) confirmed late last year by a renowned group. Our WMS/TMS aims to facilitate management of warehouse operation and distribution of beverages and consumer and industrial goods by the client. We have been making good progress with the project as scheduled and expect it to be completed by the end of the year. While apparently the revenue of this business sub-segment dropped 24.8%, or HK$2.3 million, year-on-year, last year’s number actually included the 4-way shuttles charges which our major retail client paid for the hardware ordered for the automated warehouse solution project. If this one-time charge item was excluded, revenue recorded by the Supply Chain Solutions sub-business segment for the reporting period was at large comparable to the revenue last year. For the second half year, we are reasonably optimistic about the outlook of our GETS business given the positive market development so far in 2021. Though there are still uncertainties associated with the pandemic, according to the International Monetary Fund forecast in early April, the global economy is expected to rebound by 6% in 2021. The economic figures and forecast released so far all pointed to a robust post-recession recovery of the global economy, though uneven among markets and business segments. We expect the overall GETS market to continue to grow in the latter half of 2021 compared with the same period in 2020, although the rate would unlikely be able to sustain at the same high level as the first six months at 22%. As mentioned in the 2020 Annual Report, the GETS market improved in the second half of 2020, almost returning to the same level as the same period in 2019 when the Hong Kong economy was hit by the Sino-US trade disputes and local social issues. For the second half of 2021, the comparison would be against a ‘higher’ base. Nevertheless, generally speaking, an overall double digit growth for the GETS market for the entire 2021 is a reasonable assumption. While the competitive environment for the GETS market has been rather stable for some time, it faces the challenge of growing business volume of major courier customers which drags our average price down. That said, the Group is still positive about the outlook of our GETS business in 2021.