先丰服务集团二零二三年中期报告

Interim Report CONTENTS目錄 2-3 4-13 14 15 16-17 18-19 CORPORATE INFORMATION公司資料 BOARD OF DIRECTORS Non-Executive Directors Dorian Barak Mr. Chang Zhenming(Chairman)Mr. Fei YipingMr. Chan Kai KongMr. Dorian BarakMr. Zhang Yukuan Executive Directors Mr. Ko Chun Shun, Johnson(Deputy Chairman)Mr. Luo Ning(Deputy Chairman)Mr. Li Xiaopeng(Chief Executive Officer) Independent Non-Executive Directors Mr. Yap Fat Suan, HenryMr. Cui LiguoMr. Hooi Hing LeeDr. Chan Wing Mui, Helen Audit Committee Mr. Yap Fat Suan, Henry(Chairman)Mr. Cui LiguoMr. Hooi Hing Lee Nomination Committee Mr. Cui Liguo(Chairman)Mr. Ko Chun Shun, JohnsonMr. Yap Fat Suan, HenryMr. Hooi Hing Lee Remuneration Committee Mr. Yap Fat Suan, Henry(Chairman)Mr. Ko Chun Shun, JohnsonMr. Cui LiguoMr. Hooi Hing Lee Risk Committee Mr. Cui LiguoMr. Hooi Hing LeeMr. Yap Fat Suan, Henry COMPANY SECRETARY Mr. Chan Kam Kwan, Jason CORPORATE INFORMATION公司資料 INDEPENDENT AUDITOR PricewaterhouseCoopersCertified Public AccountantsRegistered Public Interest Entity Auditor LEGAL ADVISERS • Baker & McKenzie PRINCIPAL BANKERS Bank of Communications Co., LimitedChina Everbright BankChina CITIC Bank International LimitedIndustrial and Commercial Bank of China REGISTERED OFFICE Clarendon House2 Church StreetHamilton HM11Bermuda Clarendon House2 Church StreetHamilton HM11Bermuda PRINCIPAL PLACE OF BUSINESS 16393902 Suite 3902, 39th FloorFar East Finance Centre16 Harcourt RoadAdmiraltyHong Kong SHARE REGISTRARS AND TRANSFER OFFICE Principal Registrars MUFG Fund Services (Bermuda) Limited4th Floor North, Cedar House41 Cedar AvenueHamilton HM12Bermuda MUFG Fund Services (Bermuda) Limited4th Floor North, Cedar House41 Cedar AvenueHamilton HM12Bermuda Share Registrars and Transfer Office 18354 Tricor Tengis LimitedLevel 54Hopewell Centre183 Queen’s Road EastHong Kong INVESTOR RELATIONS (852) 3766 1077(852) 3007 0386www.fsgroup.comwww.irasia.com/listco/hk/frontierir@fsgroup.com Investor Relations DepartmentFrontier Services Group LimitedTelephone:(852) 3766 1077Fax:(852) 3007 0386Website:www.fsgroup.comwww.irasia.com/listco/hk/frontierEmail:ir@fsgroup.com MANAGEMENT DISCUSSION AND ANALYSIS管理層討論與分析 Frontier Services Group Limited* The board of directors (the “Board”) of Frontier Services GroupLimited (the “Company”) presents the unaudited consolidatedfinancial results and financial position of the Company and itssubsidiaries (together, the “Group”) for the six-month period ended30 June 2023 (the “Current Period”), together with the comparativeamounts for the corresponding period of 2022. These unauditedcondensed interim financial statements have been reviewed bymembers of the audit committee of the Company. REVIEW OF RESULTS Overall Performance MANAGEMENT DISCUSSION AND ANALYSIS管理層討論與分析 503,839,000429,140,00077,016,00057,221,00034,751,00072,677,000 For the six months ended 30 June 2023, the Group reported adrop in revenue from HK$503,839,000 in 2022 to HK$429,140,000in 2023 because the business rescue practitioner in South Africahad applied to the high court to place the Group’s logistic arm intoliquidation during the Current Period. Previously, that logistic armin South Africa had contributed a total revenue of HK$77,016,000during the first six-month period of 2022 while no revenue wasgenerated during the same period of 2023. During the CurrentPeriod, the Group’s overall operating performance was improved,in particular, the overseas security business. Together with two non-cash gains of HK$57,221,000 recognised during the Current Period,the Group’s operating result for the Current Period significantlyimproved from operating loss of HK$34,751,000 in 2022 to operatingprofit of HK$72,677,000 in 2023. Set out below is the overallperformance of the Group by business segment. Overall Performance Security, Insurance and Infrastructure Business Security 266,662,000182,609,00046%31,335,0001,576,000 After years of effort in investing and participating in overseas securitybusiness plus the positive contributions brought in from thosenewly acquired subsidiaries in October 2021, the Group’s securitybusiness managed to generate profits in both overseas and HongKong during the Current Period. Total revenue of HK$266,662,000(30 June 2022: HK$182,609,000) was generated, representing 46%growth. Its net profit after net off of amortisation of those intangibleassets for the Current Period was HK$31,335,000 (30 June 2022:a net profit of HK$1,576,000). Increase in profitability level of thissegment was due to marked improvement in the Group’s overseassecurity business, particularly in Africa and South East Asia. MANAGEMENT DISCUSSION AND ANALYSIS管理層討論與分析 Insurance 134,000650,000 The Group’s insurance business reported a net profit of HK$134,000(30 June 2022: a net profit of HK$650,000) for the Current Period,which was contributed by the Group’s interest in an associateoriginated in Africa. Appreciation in USD eroded the businessperformanc