Gelonghui, November 14, 丨 Asia Express (08620.HK) announced that in the six months ending September 30, 2022, the company's total revenue decreased by about 20.1% to about HK$174 million. The decline was mainly due to the deterioration of the surrounding environment and continued blockage of cross-border land cargo flows, which severely impacted Hong Kong's exports and the Group's business volume. Overseas, contrary to the trend where large amounts of consumption power were used to purchase goods during the pandemic, mass consumption power gradually shifted to the service industry. This had an adverse effect on the volume of goods that the company's main customers could handle.

The Group recorded a net loss of approximately HK$6.9 million during the period (six months ended September 30, 2021: HK$500,000). The increase in net loss was mainly due to the deterioration of the peripheral environment and continued blockage of cross-border land cargo flows, which severely impacted Hong Kong's exports and adversely affected the Group's revenue generated during the relevant period.