Tradelink 2019 Annual Report

Chairman’s Statement 主席報告書 二零一九年年報 貿易通電子貿易有限公司 05 Dear Shareholders, Review To all of us in the trading and financial industry, there is no doubt that 2019 was an exceedingly challenging year. While the rising trade tensions between the US and China, as expected, continued to dampen Hong Kong’s economic performance in the year, the unprecedented local social unrest that has started since the summer has shaken the Hong Kong community and taken a toll on Hong Kong’s economic activities. The International Monetary Fund estimates that Hong Kong’s economy was expected to contract 1.9% in 2019, worse than the government’s earlier forecast of a 1.3% decline. Against such an adverse operating environment and coupled with the fact that all of our business is based in Hong Kong, I take comfort in reporting that the Group’s overall performance for 2019, though recording a drop on a year-on-year basis, has improved with the drop narrowing compared with the results in the first half of the year. In fact, due to the revenue from the supplies of goods to our solutions contracts entered into with customers, the Group recorded a revenue increase of 24.0% from HK$271.9 million in 2018 to HK$337.2 million in 2019. On the costs side, largely due to the significant increase in the cost of purchase of goods and coupled with an exchange loss of HK$2.1 million in 2019 versus a gain of HK$1.0 million in 2018 causing a swing of almost HK$3.1 million, the Group’s total operating costs in 2019 jacked up 38.2% to HK$252.6 million from HK$182.7 million in 2018. As a result, the operating profit of the Group was down from HK$104.8 million in 2018 to HK$101.2 million in 2019, a drop of 3.4%, a significant improvement over the 13.5% drop for our 2019 Interim Results. 致各位股東： 回顧 對整個貿易及金融業而言，二零一九年毋疑是極 具挑戰的一年。一如所料，中美貿易角力日增， 持續打擊香港本年度的經濟表現，且自夏季開始 發生前所未見的本地社會動盪，撼動香港社會， 香港經濟活動亦受到影響。國際貨幣基金組織估 計，預期二零一九年香港經濟會收縮 1.9% ，比政 府早前預測收縮 1.3% 要差。 面對不利經營環境，加上我們全部業務以香港為 基地，本人欣慰匯報，縱使二零一九年本集團整 體表現錄得按年下跌，惟跌幅已較上半年業績收 窄。事實上，由於與客戶訂立的解決方案合約內 供應貨品的收益，本集團錄得收益自二零一八年 的港幣 271,900,000 元增加 24.0% 至二零一九年的 港幣 337,200,000 元。在成本方面，主要由於購買 貨品成本大幅上漲，且二零一九年錄得外匯虧損 港幣 2,100,000 元，而二零一八年則為收益港幣 1,000,000 元，倒虧近港幣 3,100,000 元，本集團的 經營成本總額由二零一八年的港幣 182,700,000 元 上升 38.2% 至二零一九年的港幣 252,600,000 元。 因此，本集團的經營溢利由二零一八年的港幣 104,800,000 元 下 跌 3.4% 至 二 零 一 九 年 的 港 幣 101,200,000 元，較 二 零 一 九 年 中 期 業 績 跌 幅 13.5% 有明顯改善。