Wan Leader International Limited released its audited results for the year ended 31 March 2026. Revenue rose 20.5% year on year to HK$189.92 million, driven entirely by a HK$32.92 million rebound in air-freight forwarding and related logistics services, which accounted for 100% of group turnover. Sea-freight, e-commerce entrusted management and fashion-item trading contributed no revenue during the period.

Gross profit more than doubled to HK$4.74 million, lifting the gross margin to 2.5% from 1.4% a year earlier. Cost-control initiatives were evident: sales and marketing expenses fell 27.6% to HK$2.56 million, while administrative expenses dropped 34.4% to HK$14.91 million. Finance costs edged up 3.6% to HK$1.41 million, reflecting short-term shareholder loans that were fully repaid before year-end.

The group reported a net loss of HK$14.29 million, a 43.3% improvement on FY2025’s HK$25.21 million deficit. Basic and diluted loss per share decreased to HK$0.0885 from HK$0.202. A small gain of HK$0.00 million (approximately HK$3,000) was recorded on the disposal of dormant subsidiaries.

Cash and cash equivalents stood at HK$7.05 million at 31 March 2026, down from HK$15.51 million a year earlier, after loan repayments and working-capital usage. All bank and other borrowings (HK$9.10 million at end-FY2025) were cleared, reducing the gearing ratio to 0.3% from 25.5%. Net assets declined to HK$25.22 million (FY2025: HK$36.58 million).

The company placed 29.95 million new shares in November 2025, raising net proceeds of HK$2.87 million, which were fully applied to debt repayment and general working capital. No final dividend was proposed for the year.

Management highlighted persistent geopolitical risks, volatile freight rates and ongoing pricing pressure in the freight-forwarding sector, but expects continued market volume growth supported by cross-border e-commerce and supply-chain reconfiguration. Wan Leader intends to deepen its focus on niche routes, pursue digitalisation and explore diversification opportunities while maintaining a cautious cost-control stance.