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SF Intra-City’s shares plunge as the company lose more last year

Share price of Hangzhou SF Intra-city company (9699.HK) slumped 5% to HK$ 7.03 today, after the company announced its net loss for 2021 expanded to 899 million yuan, as shown in the annual report released yesterday. The largest third-party on-demand delivery service provider in China saw a high open of HK$ 7.70 this morning , up 4.05% from the previous close, but the price went down afterwards to as low as HK$ 6.96. The company reported a net loss of 899 million yuan for the year 2021, versus 758 million yuan in 2020, it said in the result. The company achieved revenue of 8.174 billion yuan, a year-on-year increase of 68.77% and its gross profit and gross profit margin have recorded positive numbers for the first time, at 94.809 million yuan and 1.2% respectively, as of December 31, 2021. SF Intra-City was officially listed on the Hong Kong Stock Exchange on December 14 last year. However, it sank on the first day and closed at HK$14.9 per share on the same day, down 9.26% from the offering price, with a total market value of HK$13.91 billion. In the past five years, the instant delivery industry has ushered in a period of rapid growth, and the overall size of orders in the industry was 27.9 billion last year, said the report from iresearch.  SF Intra-City has become the largest third-party on-demand delivery service platform in China, with a steady market share of over 11%, capturing the emerging business opportunity of the instant delivery service according to its press release yesterday. Zeng Hailin, CFO of the company, said in today’s phone conference that he is confident that the company's gross profit margin will continue to improve and the expense ratio will further decline, and will strive to achieve breakeven as soon as …

Society

No increase in HK’s female legislators in 23 years: are women part of a reformed Legco?

In last year’s Legislative Council election, Cindy Chan Yuk-sim, 55, an estate surveyor and civil servant, cast a vote for the Architectural, Surveying, Planning and Landscape functional constituency, one of 29 representing various industries of Hong Kong. Both candidates running for the single seat were men. “I wish there were more female candidates who can participate in the architectural constituency so that more female voices can be heard in the Legislative Council,” Chan said.  Though, in recent years, more women have taken up significant political roles, such as Chief Executive Carrie Lam Cheng Yuet-ngor and DAB Chairperson Starry Lee Wai-king, Hong Kong politics are heavily skewed in favor of men.   At the top levels of government, less than a fifth are women. And there has been little to no increase in this number for the last 23 years. Of the current 90 legislators, only 17 are women, about 19%. The percentage is the same for the Executive Council, the cabinet to the Chief Executive. Of the 32 current members, only six are women. “As most of the members in the Legislative Council and Executive Council are male, women opinions are relatively neglected, weakening their power in fighting for women rights in the council,” Joseph Chan, 62, a former professor from the Department of Politics and Public Administration of the University of Hong Kong, said. Entrenched gender stereotypes run deep in Hong Kong. Voters tend to favor men for political positions involving financial policy while women are preferred for social welfare and education, according to a survey by the Gender Research Centre at Chinese University's Hong Kong Institute of Asia-Pacific Studies. Joseph Chan said gender stereotypes may also cause male legislators to be judged on their accomplishments while women are judged on their appearance along with their achievements.   “Women should be …

Society

Singapore: Easing policy on COVID-19 prevention takes effect from today

Relaxed COVID-19 restrictions in Singapore kicked in today. Main changes include the easing of mandatory mask-wearing outdoors that had been in place for almost two years. Wearing masks outdoors is now optional for residents in Singapore, but people still need to follow the one-metre safe-distance rule and wear a mask indoors. “I will still wear a mask outdoors because of the fear of infection,” said Shi Xiaoli, 47, a manager in a decoration company who runs in the East Coast Park every day. “But it's still good that I can take off my mask when I run.” “Our fight against COVID-19 has reached a major turning point,” Prime Minister Lee Hsien Loong said in his speech delivered last Thursday. “We will be making a decisive move towards living with COVID-19.” Singapore has seen a steady decline in daily new cases. There were 4,848 new cases on March 27, the lowest since Feb. 3, according to the statistics from MOH (Ministry of Health Singapore). The week-on-week infection ratio, which refers to the ratio of community cases in the past week, compared with the week before, has been lower than 1.0 for nearly a month in Singapore, according to MOH. “I think it’s the right time,” said Associate Professor Alex Cook, Vice Dean of research at the National University of Singapore’s Saw Swee Hock School of Public Health. “Going for ‘freedom day’ this week would have been a huge surprise, but a substantial relaxation, with room for more steps once the wave ends, is sensible and ought to be safe.” The relaxed policy also includes larger group sizes for social gatherings from five to 10 people and a returning of 75% of employees who are working from home to the workplace. “I felt so excited, can't wait to gather with my friends,” …

Society

Virus or Starvation: Hong Kong Suffers Under Worst Pandemic Wave

Empty stores try to tempt customers with 20% discounts. Many more are closed, their shutters covered in thick dust. The previously bustling streets only see a handful of pedestrians, many of whom have sealed themselves off with surgical masks and even goggles. This was an early day in March in Hong Kong, in the third Covid-19. Hong Kong is suffering from the worst wave of pandemic with more than a million reported cases. Despite being one of the world's wealthiest cities, the Covid-19 fatality rate exceeds 0.5%, marking the highest death rate in the world right now. The city has shuttered bars, closed down late-night dining and schools, leaving hundreds of thousands without a job and little in terms of a safety net. According to Sze Lai-shan, deputy director of the Society for Community Organization, the situation is dire. "As most people can get vaccinated, the chances of dying from Covid are low, but starving to death is higher now," said Sze, whose group helps 40,000 people a day. Hong Kong's unemployment is surging amid the semi-lockdown, reaching 4.5% in February, the highest since September 2021. The government is trying to stem the disaster in the city, with Financial Secretary Paul Chan Mo-po recently announcing a sixth round of the Anti-pandemic Fund of HK$27 billion to subsidize affected employers and individuals. Some HK$3billion is reserved for unemployment support. Eligible applicants must be unemployed for 30 consecutive days to get one-off HK$10,000 subsidies. Lam said to expand unemployment subsidy on Friday to benefit up to 1.3 million workers, covering three-quarters of workers earning HK$30,000 per month. Ronald Kong, 50, was recently temporarily laid off from his job at a barber shop, and had to make ends meet by giving haircuts in his apartment. While he's back at work now, he's deeply …

Society

Surviving smart prison

Immigration detainees concern groups complain of intrusive use of technology. What is a smart prison Hong Kong’s first smart prison, Tai Tam Gap Correctional Institution (TTGCI) began operation in Sept 2021. Among the 160 inmates, 67 were immigration detainees. According to the Development of Smart Prison document presented to the Legislative Council by the Correctional Services Department in 2019. TTGCI operates a Passage Surveillance System. All prisoners have to wear a smart wristband. Officers can track the prisoners and are alerted if anyone strays from a designated route.  Inmates have to wear a tracker that looks like a black digital watch without a screen. It monitors heart rate, physical conditions and medical needs. It also alerts offers of any suicide or self-harm attempt. Why are the immigration detainees there?  Anna Tsui is a member of the CIC Detainees’ Rights Concern Group, an organisation that tries to improve immigration detainees’ living conditions and fight against unlawful detention inside the Castle Peak Bay Immigration Centre (CIC). “At least three of the immigration detainees inside TTGCI told me that the officers didn’t explain the functions and the purposes of wearing the black wristbands in advance. They asked the officers if they could remove the wristbands and the answer was ‘no’.”  In an email response to The Young Reporter, the Correctional Services Department said that “upon admission to TTGCI, information leaflets explaining the function of the smart wristband are provided to detainees. Detainees may ask on-duty staff if they have doubts.” As of  Dec. 2021, there were about 14,000 people who were refused entry into Hong Kong. These so-called non-refoulement claimants include illegal migrants or people who had overstayed their visas. Among them, 11,000 have had their claims rejected but 9,000 of them have applied for judicial reviews  and of those,  300 were detained …

People

Feminists redefine gender equality

Hilarie Fung Hiu-lam, a year 3 university student and her friends have been managing @medusasinnocent, an Instagram page dedicated to feminism since mid-September last year.  “Do you believe in gender equality? If yes, then welcome to the family of feminism!”  she said. It started off as an assignment, but Fung has enjoyed learning about feminism and proudly calls herself a ‘feminist’. “I think feminists are villainized, but all we ever wanted is for everyone to be equal,” said Fung. The name @medussasinnocent, comes from the Greek myth about Medusa, the maiden turn monster after she was raped by Poseidon in the temple of Athena.  Even though Medusa is traditionally portrayed as a villain, she was actually a victim. Fung’s teammate thought there are similarities between  the villiainization of Medusa and of feminists. “I have never understood why boys are not allowed to cry and girls should cover up to protect themselves,” Fung said bitterly, “it is quite obvious that society is morbid enough to normalise toxic masculinity and sexualisation. We should stop asking people to do or not do things according to their genders.”  She emphasised that feminism is about providing support to all genders when they feel tied down by gender norms, rather then promoting females as the “better” gender.  The Instagram page Fung and her teammates run also includes a link to their blog “Medusa”. It covers  a wide range of topics, including the objectification of South Asian women, hyper-sexualisation of male idols and women not being able to wear what they want without the fear of being judged. The articles have accumulated hundreds of views and sparked healthy discussions online. Fung is delighted to see her efforts in promoting gender equality pay off.   “My mother does not let me hike alone and my ex felt embarrassed because …

Society

Justice for silent frontline cleaners

Carrying a blue cart of buckets and brooms, Luke Ching Chin-wai, 50, was supposed to clean the left-wing of Tai Wai MTR station. It is a two-storey building that includes four railways of the Tuen Ma and East Rail Lines, with stores on the ground floor.  In addition to 11 rubbish bins, Ching is also responsible for cleaning the advertising lightboxes, handrails and gates, as well as the train area, all within two hours.  Ching is drenched in sweat already before he’s even finished half of his duty, and he has yet to take a break.  “What a nuisance to be sweaty,” he said while cleaning the entrance gate. Cleaning workers like Ching have to maintain the hygiene in areas such as public toilets and refuse collection rooms. However, frontline cleaners are not always well equipped, especially during the pandemic. They risk their health to earn meagre salaries, and their rights and welfare are often barely protected.  But Ching is also a conceptual artist and a labour activist. He discovered the hidden welfare problems of cleaning workers working for the Mass Transit Railway after going undercover since November last year. Cleaners work under the MTR Corporation are outsourced to ISS Facilities Service Limited and Winson Cleaning Service Company Limited through tendering, according to the company’s website. Suppliers listed the business details on the tendering documents for MTRC to choose from, including the salary for the cleaners.  The number of face masks dispensed is equivalent to the number of working days, but it is far from enough. “One is needed before the break, a new one is needed after that, and should be changed after work,” explained Ching. A minimum of three face masks are needed for an eight-hour shift.  Hygiene work in an MTR station is not limited to wiping …

Society

Online learning worsen the education inequality as grassroots children’s self-esteem lowered

Hazel Chung, a university freshman who has to study at home due to the pandemic, is forced to study at the same table with her sister, who just got into secondary school. They live in a public housing flat with their mother, who works six days a week at a supermarket.  In a 15-square-metre apartment, the family uses a foldable table for dining, working, and studying. As the flat is not spacious, they will need to sit on the bunk bed for the lesson. Besides the physical environment, poor internet interrupts online learning as well. If one of the two sisters is answering questions from teachers, the other will easily be affected due to internet traffic jams, according to Chung. The intermittent internet connection often lasts for a minute and reconnects itself, repeatedly repeating every time Chung and her sister have online lessons together. “When both of us turn our cameras on, the video quality will drop significantly, making it very hard to concentrate,” said Chung. It is not just students who feel that students are not concentrating. Liz Li Tsing-wen, the head of Citizenship and Social Development in Pui Kiu College, said she noticed that students are not concentrated on online lessons. “It is very easy to see that some students are looking at the monitor but their mind has been distracted by other things at home,” said Li. “The only benefit is that I do not have to repeat ‘keep quiet’ a thousand times because they only turn on their microphones when I call their names.” Chung agrees with Li's comment and says, “even myself, as an adult and a tertiary education student, feels difficult to concentrate on online learning.” “If I have my own room and better internet, I can be more concentrated, and so does my …

Society

St.Patrick’s Day celebrations return to Kingston, Ontario

Hundreds of students wearing green celebrating St. Patrick’s Day in Kingston, Ontario where Covid-19 restrictions have been lifted. The green clothes, green beer and clovers are back on the streets of Kingston, Ontario for the first time in two years. St Patrick’s Day festivities stopped in 2020 at the start of the Covid-19 pandemic. But celebrations honouring one of the patron saints of Ireland are in full swing again. Students hold parties in their front yards and rooftops, many of them singing with drinks in their hands. All this is possible because from March 14, social gathering in Ontario has been increased to 50 people indoors, with no limit outdoor. Capacity limits for bars and restaurants have also been removed.  But the University District Safety Initiative is in effect, which means individuals could be fined up to CAD$2,000 or even face university disciplinary action for creating, hosting or participating in a "nuisance party" under the Student Conduct Code. A Nuisance party includes undesirable behaviors such as excessive and disturbing noise, obstructing vehicular or pedestrian traffic, and illegally serving or selling alcoholic beverages and controlled substances. Last year, Covid restrictions meant parties were limited to five people. Businesses serving alcoholic beverages had to close at 11 p.m. Singing, dancing and live music were also banned. But now in 2022, students say they are happy to celebrate St.Patrick’s day with fewer restrictions. Cathy Chan, a student in Kingston got ready a few days ago by buying a green T-shirt and accessories. "My friends and I are really excited about this. We haven't had a big party in a long time," she said. Another student, Anna Morel, said she was going to a night club for the evening. "The club just reopened this month, and we can't wait to enjoy our time there," …

Society

Summer holiday starts early for Hong Kong students

The Summer break for school kids around Hong Kong has started four months earlier than usual. The government announced the closure at the start of the fifth wave of the Covid pandemic in order to avoid students cramming onto campuses. The government said earlier that at least 400 schools will be used as Covid testing centres. But school is supposed to resume after the Easter holidays, with the academic year ending on Aug. 12. Sammi Lam Wing-yan, 45, is a mother of a 12-year-old and a 6-year-old. “My original plan was to take a few weeks off in July and August to accompany my kids,” said Lam. “But I am unable to apply for leave this month and need to find someone else to take care of my kids during the daytime.” Law Fung-sim, a kindergarten teacher, said the arrangement hinders the learning ability of preschoolers. “Kindergarten children need more social interaction to train their language and their basic knowledge. Online learning is not an ideal way to teach,” she said. “The sudden suspension of class is definitely not good since young children are forgetful and should constantly review concepts to consolidate their knowledge.” Joseph Law Kin-dat, a primary school teacher, said the sudden change of schedule affects students’ academic performance. “We can’t look after them outside school.oSome of them are unable to study on their own during the holidays,” said Law. “The only thing we can do is to leave the important lessons for now and teach them after the Easter holiday. Hopefully face-to-face classes will be allowed by then,” he said.