How Is Crypto Taxed in the United States? It’s important for investors, including those with cryptocurrency IRAs, to understand how taxes affect their accounts. Cryptocurrencies are treated as property according to the IRS, just like many other investments. Every sale may cause a taxable event, with only a few exceptions. But if you hold your […]
HONG KONG, Mar 27, 2022 - (ACN Newswire) - Janco Holdings Limited ("Janco" or the "Group"; Stock Code: 8035), a well-established freight forwarding and logistics one-stop service provider founded and based in Hong Kong with a strategic focus on Asia, announced its 2021 unaudited* preliminary annual results for the year ended 31 December 2021. The Group reported profit attributable to shareholders of HK$17.4 million, representing a year-on-year surge of 55.4%.
The Group predominately generates revenue from freight forwarding services, logistics services and e-commerce and fulfillment services. With the growth in revenue from ocean freight forwarding and e-commerce fulfillment services, the Group's total revenue amounted to approximately HK$566 million, representing a year-on-year increase of 16.1%. Furthermore, gross profit increased by 17.8% to approximately HK$76.2 million during the year.
Due to a rebound of the shipment volume to normal after a significant drop due to COVID-19 during the previous year, revenue from the ocean freight forwarding services has increased by approximately HK$34.3 million. Revenue from e-commerce fulfillment services increased by approximately HK$77.4 million, which was mainly attributable to an increase in orders placed by both new and existing customers during this year. However, this growth was partially offset by a decline in air freight forwarding services, ancillary logistics services and e-commerce trading services.
The increase in gross profit was mainly attributable to the increase in e-commerce courier services income which outweighed the increase in e-commerce courier services costs and the decrease in warehouse direct costs which outweighed the decrease in logistics service income.
The emerging technology and innovation applications have taken the Logistics Industry to ever challenging advances. The Group has taken steps in different stages developing appropriate products and services currently and for the near future, including 8035 Tennichi Active Water for civilian hygiene and combating COVID-19, the Group invested in a proprietary conversion and packaging facilities to cater for the marketing and sales of 8035 Tennichi Active Water, which is already available in the market from spring 2022, and creating revenues to the Group. For Cold Chain Logistics which is a high-end reliable temperature and environmental controlled movement and storage for pharmaceutical, comestible, and beauty care products, the solution and demand are hugely sought after, whereas the Group has started procuring the required technology. As for Fintech Logistics, the Group has committed to establish a Logistical Funding Resources to be able to attach into new era of products, and to be prepared for big data solutions, artificial intelligence applications and blockchain composites.
While being ready for the above, the Group is investing huge effort in further developing and securing a higher market share in the e-Commerce and Fulfilment Services division, where the Group sees solid positive growth. Complementing the Logistics and Warehousing Services, the Group is always looking for investments into appropriate logistic hubs for the purpose. The Group is also constantly improving the selection of solutions, to cater for different needs, while improving efficiency and customer satisfaction ratings. Constant improvement and market attention will bring the Group to capture opportunities arising from cross border e-Commerce traffic from China and overseas; and this would be the cornerstone to build the Group being the major Logistics Services Provider in the region.
As a responsible corporate citizen, the Group have been accommodating the authority's initiatives in helping out COVID-19-stricken Hongkongers. A strong testimony to their reliability and capabilities, Janco's fulfilment team has made possible dynamic provisioning efforts and home deliveries at short notice or lead time.
Other than the above, Mr. Po Kam Hi John and Mr. Tsang Zee Ho Paul have been appointed as non-executive Directors with effect from 15 March 2022.
* Due to the escalation of the COVID-19 pandemic and the interruptions arising from both the quarantine and/or work from home arrangements occurred in recent months, additional time is required for the Company and the Auditor to complete their review and audit of the financial information of the Group. Following completion of the auditing process by the Auditor, the Company expects to issue further announcement(s) in relation to, among other matters, the audited consolidated financial results of the Group for the Year.
About Janco Holdings Limited (Stock code: 8035) Established in 1990, Janco Holdings Limited is a Hong Kong-based 3PL company that principally engages in freight forwarding and the provision of one-stop logistics services. The Company has become a global freight forwarder, providing innovative and technology-driven end-to-end solutions consistent with being an integrated logistics specialist. Its business covers five segments, including cross-border e-commerce logistics solutions, freight forwarding, contract logistics, pharmaceutical and healthcare, and express. In addition, the Company is able to offer a truly global logistics network to customers. For details, please visit: www.jancofreight.com
Copyright 2022 ACN Newswire. All rights reserved. www.acnnewswire.comJanco Holdings Limited ("Janco" or the "Group"; Stock Code: 8035), a well-established freight forwarding and logistics one-stop service provider founded and based in Hong Kong with a strategic focus on Asia, announced its 2021 unaudited* preliminary annual results for the year ended 31 December 2021.
A project bringing the functionality of traditional finance to crypto investing is exploding after a surprise listing from Coinbase. The US-based cryptocurrency exchange announced in a tweet that Crypterium (CRPT) is now available on its main website as well as Android and iOS apps. Crypterium (CRPT) is now live on https://t.co/CD3RBjtMAO & in the Coinbase […]