Tradelink 2019 Interim Report

07 貿易通電子貿易有限公司  二零一九年中期報告 MANAGEMENT DISCUSSION AND ANALYSIS 管理層討論及分析 Business Review E-Commerce Business Review For the first half of 2019, the total revenue from our GETS and Supply Chain Solutions was HK$85.0 million, representing a drop of 3.7%, or HK$3.3 million, compared to HK$88.3 million for the same period last year. The overall GETS market slumped 6.1% year-on-year in the first half of the year, the biggest dip since the global financial crisis in 2008/09. Hit head on by the slowdown of external trading activities, the overall GETS market plummeted, as such the revenue the Group received from our GETS for the first half of 2019 at HK$79.8 million, was down 4.6%, or HK$3.8 million, against HK$83.6 million last year. While the market shrinkage was outside our control, because of our ability to achieve an overall price increase of our services, the GETS revenue loss was of a smaller magnitude than that of the market. As for our Supply Chain Solutions, its revenue for the reporting period increased slightly, helping reduce the revenue loss for our combined E-Commerce business segment. In anticipation of the challenging external environment for our GETS business, we have stepped up our cost control measures and with effective cost management, E-Commerce business recorded segmental profit of HK$26.8 million for the reporting period, 3.9% lower, or HK$1.1 million less, than the HK$27.9 million made last year. Aside from external factors affecting the overall GETS market, the operating environment was stable for GETS. The transition to the new GETS licences starting 2019 for the three incumbent service providers was smooth. On the technical front, all enhancements required under the new GETS licence were deployed by the end of 2018 for production in 2019. Business-wise, as the same three service providers continued to operate the service, the competitive landscape, as expected, remained very stable. With new price ceilings allowed under the new licence, we were able to achieve a moderate overall price increase compared with the same period last year. For the first half of 2019, revenue from our Supply Chain Solutions was HK$5.2 million was slightly up 11.8% compared to the HK$4.7 million for the same period last year. While revenue last year was made up of only regular recurrent revenue, this year additional revenue was recognised from a Warehouse Management System (“WMS”) project on work-in-progress basis. The project, although not sizeable, has particular significance, as the customer, who is a major express courier, is expanding its business beyond its traditional Business-to-Consumer (B2C) delivery services to supporting Business-to-Business (B2B) e-business operations. Impressed by our sound all-round domain knowledge, they confirmed this first order with us with potential in the future to expand to other business applications to support their new business areas. Regarding the mega project signed before the end of last year involving the provision of an advanced warehouse solution with Automated Guided Vehicles (“AGVs”) to support the daily business operations at the new warehouse of a leading retail chain in Hong Kong, during the reporting period, we have been working closely with the project partner providing the AGVs to prepare for the delivery of the first batch of equipment to integrate with our WMS/Warehouse Execution System for pilot testing. Moreover, the retail chain client also confirmed with us an order for a 4-way shuttle racking system as part and partial of their new warehouse automation project. The 4-way shuttle racking system will not only provide high density storage space hence increase space utilization at their new warehouse, but can also enhance the efficiency of storing and retrieval of pallets by the shuttles that run automatically within the racking system. While the shuttles and racking equipment will be provided by our partner, we would provide our software licence for system integration and act as the project manager who oversees implementation of the overall system. 業務回顧 電子商貿業務回顧 於二零一九年上半年， GETS 及供應鏈應用方案的收益總 額為港幣 85,000,000 元，較去年同期的港幣 88,300,000 元 減少 3.7% 或港幣 3,300,000 元。上半年的整體 GETS 市場按 年下跌 6.1% ，乃自二零零八╱二零零九年環球金融危機 以來的最大跌幅。受外在貿易活動放緩打擊，整體 GETS 市場收縮，因此，於二零一九年上半年，本集團自 GETS 錄取的港幣 79,800,000 元收益，較去年的港幣 83,600,000 元減少 4.6% 或港幣 3,800,000 元。雖然市場萎縮屬我們控 制範圍之外，但因我們可增加服務的整體價格， GETS 收 益減少幅度較市場為低。接下來談談供應鏈應用方案， 收益於報告期間略升，有助縮減合併電子商貿業務分部 的收益下滑。我們預測 GETS 業務的外在環境挑戰重重， 故已加強成本控制措施，實施有效成本管理，於報告期 間，電子商貿業務錄得分部溢利港幣 26,800,000 元，較去 年的港幣 27,900,000 元下跌 3.9% 或港幣 1,100,000 元。 除外在因素影響整體 GETS 市場外， GETS 的營商環境穩 定。三間現任服務供應商於二零一九年初順利過渡至新 GETS 牌照。在技術方面，新 GETS 牌照下規定的所有功能 提升已於二零一八年底完成，於二零一九年投入使用。 從業務角度看，由於三間相同服務供應商繼續經營有關 業務，一如所料，競爭格局維持非常穩定。由於新牌照 下容許新價格上限，我們可較去年同期溫和提高整體價 格。 於二零一九年上半年，供應鏈應用方案的收益為港幣 5,200,000 元，較 去 年 同 期 的 港 幣 4,700,000 元 略 升 11.8% 。去年的收益只有常規的經常性收益，而本年度 則錄得來自正在進行的倉庫管理系統（「倉庫管理系統」） 項目的額外收益。該項目的規模雖然不大，但極為重要， 由於該客戶為主要快遞公司，正將業務拓展至其傳統企 業對消費者 (B2C) 交付服務以外，支援企業對企業 (B2B) 電 子貿易業務。客戶十分欣賞我們完善及全面的領域知識， 除已與我們確認首張訂單外，未來可能擴展至其他業務 應用，支援彼等的新業務範疇。 去年底前已簽訂的龐大項目，提供包含自動導向車（「自 動導向車」）應用的先進倉儲解決方案，支持香港領先零 售鏈新倉庫的日常業務運作，於報告期間，我們與提供 自動導向車的項目夥伴緊密合作，籌備交付首批設備， 整合倉庫管理系統╱倉庫執行系統，進行先導測試。此 外，零售鏈客戶亦與我們確認四向穿梭貨架系統訂單， 作為新倉庫自動化項目的一部分。四向穿梭貨架系統不 僅提供高密度倉儲空間，提高新倉庫的空間使用率，亦 可透過穿梭車於貨架系統自動行駛，提升托盤存放及取 回效率。夥伴會提供穿梭車及貨架設備，而我們會就系 統整合提供軟件使用許可，並負責項目管理，檢察全盤 系統實施。