Yojee Announces Half Yearly Report For FY2019

Yojee Limited (ASX:YOJ) announced its half-yearly report for the financial year 2019. It reported an increase of 317% in its revenue from ordinary activities to $929,417 as compared to the previous corresponding period with revenue at $222,907. It was derived by the provision of software subscription, and related services such as Yojee SaaS software, PCS, set-up services and software customization.

The net loss increased by 9% to $2,965,324 from the previous loss of $2,296,844 in H1 FY2018. Due to the extension in net loss, the company’s Board of Directors declared no dividend for the period.

Yojee completed a share placement of $8 Mn fully paid ordinary shares at an issue price of $0.10 per share to the institutional and sophisticated investors (Placement) in July 2018. The placement included 1-for-3 unlisted options with the issue of 26,666,667 contracts (Placement Options) exercisable at $0.15 expiring in 18 months from the date of issue. The raised capital will be used for the company’s operations, especially to enhance its proprietary logistics software and build a stronger foothold in the Asia-Pacific market.

The company announced on July 18, 2018 that it had signed a 2-year agreement via its wholly owned subsidiary, Yojee Solutions Pte Ltd with Riverwood Pte Ltd (Riverwood) to provide Yojee’s logistics software to Riverwood (Agreement), which the parties anticipated will enable Riverwood to create greater efficiencies, and simplify and improve user experience across Riverwood’s operations. Riverwood will utilize the software as "off the shelf" to further optimise and innovate between the two parties to improve partnership. A fright services by Riverwood will be offered to the Yojee freight network which would be in addition to the already signed contract between the parties where any cost associated with any custom innovation will be paid.

The company on November 14, 2018 announced a material upgrade to its existing relationship with customer Aero Line Services Sdn Bhd (Aero Line Services), a leading logistics service provider to the finance industry in Malaysia. The upgrade sees Yojee act as the exclusive technology partner to Aero Line Services for fleet and delivery management during the term of the agreement (being 36 months commencing on 15 November 2018). This exclusive arrangement enables Yojee to provide the logistics technology for a digital transformation project for the country’s second-largest financial institution, marking the first step into providing its software solutions for the financial industry and supporting Aero Line Services’ rapid growth.

Yojee Limited is an Australian listed e-commerce and logistics technology company where it emphasizes over shared-economy through its Yojee delivery Network, and its highly secured “Platform” on the concept of Blockchain technology. It aims to provide highly efficient, seamless and on-demand movement of goods and services when required. On stock information front, Yojee Limited’ share last traded at $0.077 down 2.564 % during the day’s trade (ASX: 4:00 PM) with the market capitalization of ~$66.1 Mn. It reported a loss per share at 0.009 AUD. Its 52 weeks high has been noted at $0.23 and 52 weeks low at $0.055. Its absolute return for 3 months, 1 year and 5 years are 16.42%, 60.00%, and 37.00% respectively.

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