此乃要件 請即處理 閣下如對本通函任何方面或應採取之行動有任何疑問，應諮詢 閣下之持牌證券交易商、 銀行經理、律師、執業會計師或其他專業顧問。 閣下如已將名下所有珠江船務企業（股份）有限公司（「本公司」）股份售出或轉讓，應立即將 本通函連同隨附之委任表格送交買方或承讓人或經手買賣或轉讓之銀行、持牌證券交易商 或其他代理商，以便轉交買方或承讓人。 香港交易及結算所有限公司及香港聯合交易所有限公司對本通函之內容概不負責，對其準 確性或完整性亦不發表任何聲明，並明確表示概不就因本通函全部或任何部分內容而產生 或因倚賴該等內容而引致之任何損失承擔任何責任。 Chu Kong Shipping Enterprises (Group) Co., Ltd. （於香港註冊成立之有限公司） （股份代號：00560） (1) 非豁免持續關連交易 及 (2) 股東大會通告 獨立財務顧問 本封面頁所用詞彙與本通函所界定者具有相同涵義。 董事會函件（定義見內文）載於本通函第4頁至12頁。獨立董事委員會函件載於本通函第13 頁至14頁。獨立財務顧問函件則載於本通函第 15頁至26頁，當中載有其就非豁免持續關 連交易向獨立董事委員會及獨立 ...

香港交易及結算所有限公司及香港聯合交易所有限公司對本公告之內容概不負責， 對其準確性或完整性亦不發表任何聲明，並明確表示概不會就本公告全部或任何 部份內容而產生或因依賴該等內容而引致之任何損失承擔任何責任。 （於香港註冊成立之有限公司） （股份代號：00560） 有關租賃協議之 須予披露交易 租賃協議 董事會欣然宣佈，於二零二四年十二月六日（交易時段後），承租人（本公司之 間接全資附屬公司）與出租人就租賃該物業訂立租賃協議，用作承租人於中國內 地之主要營業地點，自二零二五年一月一日起至二零四四年十二月三十一日（包 括首尾兩日）。 上市規則之涵義 根據香港財務報告準則第 16 號，由於訂立租賃協議，本集團須於本公司之綜合 財務報表內確認與租賃協議有關之使用權資產，及根據上市規則，租賃協議項下 擬進行之交易將視作本集團之一項資產收購。 由於租賃協議項下擬進行之交易（按本集團根據香港財務報告準則第 16 號確認 之使用權資產價值計算）之適用最高百分比率（定義見上市規則）超過 5%但低 於 25%。因此訂立租賃協議構成本公司一項須予披露交易，並須遵守上市規則第 14 章項下的通知及公告規定，但根據上市規則第 14 章 ...

香港交易及結算所有限公司及香港聯合交易所有限公司對本公告之內容概不負 責， 對 其準 確 性或 完整 性 亦不 發 表任 何聲 明，並明 確 表 示，概 不 對因 本 公 告全 部或 任 何部 份 內容 而產 生 或因 倚 賴該 等內 容 而引 致 之任 何損 失 承擔 任 何責 任。 （ 於 香 港 註 冊 成 立 之 有 限 公 司 ） （ 股 份 代 號 ： 00560） 由於獲豁免持續關連交易之建議年度上限之一項或多項適用百分比率按年度基 準預期將超過 0.1%但低於 5%，因此獲豁免持 續關連交易僅須遵守上市規則第 14A 章 項下 申 報、年 度審 閱 及公 告 之規 定，但 獲豁 免 遵守 該 條上 市 規則 項 下之 獨 立股 東 批准 規 定。 由於非豁免持續關連交易之建議年度上限之一項或多項適用百分比率按年度基 準超過 5%及超過 10,000,000 港元，故非豁免持續關連交易須遵守上市規則第 14A 章 項下 申 報、 年度 審 閱、 公 告及 獨立 股 東批 准 之規 定。 - 1 - 持續關連交易 概 要 謹此提述本公司於二零二 一 年 十 一 月 三 十 日 、 二 零 二 一 ...

CKS 珠 江船 務 企 黨 (股份) 有限 公司 (於香港註冊成立的有限公司) 股份代號: 00560 N 開啟新篇章 征程 零二四年中期報告 目 錄 | --- | --- | |--------------------------|-------| | | | | 主席報告 2 | | | 管理層討論與分析 7 | | | 其他資料 20 | | | 致董事會之審閱報告 30 | | | 綜合財務狀況表 32 | | | 綜合損益表 34 | | | 綜合損益及其他全面收益表 | 35 | | 綜合權益變動表 36 | | | 綜合現金流量表 38 | | | 未經審核中期財務報告附註 | 40 | | 公司資料 68 | | 二零二四年 • 中期報告 1 主席報告 本人僅代表本公司董事會（「董事會」）提呈珠江船務企業（股份）有限公司（「本公司」）及 其附屬公司（「本集團」）截至二零二四年六月三十日止之半年業績，敬請本公司各股東 （「股東」）省覽。 回顧 二零二四年上半年，地緣政治衝突引發的經濟分割和供應鏈重組影響仍然存在，加大 了後疫情時代全球經濟復甦難度，也制約了全球貨物貿易恢復速度。本集團集中力量 ...

Business Growth and Performance - The group experienced significant growth in bulk cargo transportation volume during the first half of 2024, driven by strategic efforts in port logistics[2] - Cross-border passenger business showed a continuous growth trend, supported by the recovery in visitor numbers to Hong Kong and optimized flight schedules[2] - The company reported a net profit of HKD 71,506,000 for the six months ending June 30, 2024, compared to HKD 62,295,000 for the same period in 2023, representing a year-over-year increase of approximately 14.5%[7] - Basic and diluted earnings per share increased to HKD 5.99 from HKD 5.21, reflecting a growth of about 14.9%[7] - Total revenue for the period was HKD 1,388,711,000, up from HKD 1,280,558,000 in the previous year, indicating an increase of approximately 8.5%[7] - The company reported a consolidated revenue of HKD 1,388,711,000 for the six months ended June 30, 2024, representing a 12.6% increase compared to the same period last year[29] - The profit attributable to equity holders was HKD 67,115,000, up 14.9% year-on-year[29] Operational Efficiency and Strategic Initiatives - The group is actively transforming its traditional business structure, focusing on enhancing operational efficiency in logistics and transportation sectors[3] - The group is committed to optimizing its logistics network and improving operational efficiency through resource integration and project expansion[3] - The company aims to enhance cross-border passenger transport services and improve operational efficiency through a centralized management model, targeting cost reduction and increased operational effectiveness[5] - The group is enhancing its customer experience in high-end tourism and cruise services, successfully achieving a profit turning point[3] - The group plans to strengthen its strategic layout in the engineering logistics market, focusing on major projects like the Hong Kong International Airport engineering materials supply[4] - The group aims to explore overseas investment opportunities, particularly in Southeast Asia, to enhance its logistics network and service capabilities[4] Financial Position and Assets - Total assets as of June 30, 2024, were HKD 4,510,691,000, a slight decrease from HKD 4,546,346,000 at the end of 2023[9] - The company reported total liabilities of HKD 1,015,316,000, down from HKD 1,048,304,000, indicating a reduction in overall debt levels[11] - The net current assets increased to HKD 793,983,000 from HKD 738,939,000, reflecting improved liquidity[12] - The group maintained a current ratio of 2.1 as of June 30, 2024, compared to 1.9 on December 31, 2023[44] - Cash and cash equivalents amounted to HKD 963,975,000, representing 21.4% of total assets[44] - The group’s debt-to-equity ratio stood at 8.7%, slightly down from 8.8% at the end of the previous year[44] Segment Performance - The operating profit before tax for the cargo transportation segment was HKD 12,494,000, while the total operating profit before tax across all segments was HKD 85,107,000[17] - The cargo handling and storage segment generated external revenue of HKD 177,994,000, contributing to a total segment profit after tax of HKD 18,123,000[17] - The fuel supply segment reported external revenue of HKD 201,154,000, with a profit after tax of HKD 16,411,000[17] - Container throughput volume reached 667,000 TEU, a 3.3% increase from 646,000 TEU in the previous year[32] - Bulk cargo transportation volume surged to 614,000 tons, reflecting a significant increase of 204.0% compared to 202,000 tons last year[32] Challenges and Market Conditions - The company faced challenges in the international market, with a slowdown in demand and low investment activity impacting global trade recovery[29] - The company successfully maintained stable business volume through the development of new business initiatives despite pressure on its port and logistics operations[30] - The company is actively adjusting its service chain and transforming ports into integrated logistics service providers in response to market challenges[34] Shareholder and Investor Relations - The company expressed gratitude to investors and partners for their support and committed to creating greater value for shareholders moving forward[6] - The company declared an interim dividend of HKD 0.02 per share, compared to no interim dividend in the same period last year[26] - The company declared an interim dividend of HKD 0.02 per ordinary share, totaling approximately HKD 22,423,000, compared to zero in the previous year[55] Governance and Compliance - The audit committee and independent auditors have reviewed the unaudited interim financial information for the six months ending June 30, 2024[57] - Mr. Zou Bingxing has officially retired and resigned from the company's independent non-executive director position effective April 1, 2024[59] - The company has not been informed of any changes regarding directors' information since December 31, 2023, as per Listing Rule 13.51B[59] - The current executive directors include Mr. Liu Guanghui, Mr. Zhou Jun, and Mr. Liu Wuwei[59] - The current non-executive director is Ms. Zhong Yan, while the independent non-executive directors are Mr. Chen Qichang, Ms. Qiu Liwen, and Mr. Chen Zhongni[59]

Financial Performance - Total assets decreased by 0.5% to HKD 4,546.3 million, while total liabilities decreased by 2.4% to HKD 1,048.3 million[14]. - The debt ratio improved to 23.1%, down from 23.5% in the previous year, indicating a stronger financial position[14]. - The company's profit attributable to equity holders for the year was HKD 114,069,000, an increase of HKD 20,579,000 or 22.0% compared to the previous year[68]. - The company's share of profits from joint ventures and associates showed a significant improvement, reporting a profit of HKD 31,869,000, an increase of HKD 50,994,000 or 266.6% compared to the previous year[46]. - The company's capital debt ratio was 8.8% as of December 31, 2023, down from 10.0% in 2022, while the debt ratio was 23.1%, slightly down from 23.5% in the previous year[72]. - The current ratio of the company was 1.9 as of December 31, 2023, compared to 1.8 in 2022[86]. - The company's distributable reserves as of December 31, 2023, amounted to HKD 1,451,035,000, slightly up from HKD 1,445,952,000 in 2022, with approximately HKD 56,058,000 earmarked for the final dividend distribution[133]. Operational Highlights - Container transportation volume increased by 2.8% to 1,321,000 TEU, and bulk cargo transportation volume surged by 68.6% to 1,143,000 metric tons[24]. - The passenger volume at the Haidian Terminal reached 459,000, a significant increase of 261.4% year-on-year[33]. - The company completed a total of 1,017,000 passenger trips in the year, reflecting a recovery in urban routes as visitor numbers increased[54]. - The company reported a 31% year-on-year increase in air freight volume, driven by the transformation and upgrade of air transport services[51]. - Cross-border water passenger transport business has resumed, with significant recovery in passenger volumes following the normalization of travel[22]. - The logistics business in the engineering sector has expanded, successfully winning multiple contracts, including a project for the Hong Kong International Airport, enhancing revenue generation capabilities[47]. Strategic Initiatives - The company plans to enhance its port logistics resources and develop a modern port logistics industry system to improve market competitiveness[20]. - The company aims to expand its fuel supply business by successfully bidding for government marine fuel supply projects and enhancing operational capabilities[34]. - The company is focusing on developing new profit growth points by exploring new business opportunities in the Greater Bay Area logistics market[7]. - The company is actively promoting an integrated logistics model, combining barge, terminal, and local delivery services to tap into the e-commerce logistics market[47]. - The company is focusing on high-end business transformation and logistics expansion in the Greater Bay Area, particularly in Hong Kong and Zhuhai, to enhance its core logistics services[96]. - The company plans to improve its cross-border passenger transport operations by optimizing route planning and enhancing marketing efforts, aiming to increase the overall impact and conversion rate of its cross-border products[98]. Environmental and Compliance Efforts - The company has implemented measures to enhance environmental compliance and sustainability, adhering to various environmental laws and regulations[40]. - The company has set annual environmental goals and action plans in line with the Hong Kong Stock Exchange's ESG reporting guidelines, promoting resource conservation and environmental sustainability[41]. - The company identified six key issues in its ESG assessment, including environmental compliance and employee rights, to address stakeholder concerns[62]. - The company has established a comprehensive safety management system to ensure operational safety and reduce potential risks[65]. Challenges and Market Outlook - The global shipping market is expected to remain under pressure in 2024 due to geopolitical conflicts and economic uncertainties, continuing the downward trend observed in 2023[84]. - The company is facing significant challenges in its freight business due to declining demand, rising freight rates without support, and intensified competition around inland ports[120]. Human Resources and Management - The company is enhancing its human resource management and optimizing its compensation system to attract and retain talent, addressing high turnover rates and recruitment challenges[127]. - The company is focusing on cost reduction and operational efficiency improvements to enhance its management capabilities and operational effectiveness[98]. Capital and Funding - As of December 31, 2023, the company secured credit facilities totaling HKD 1,186,650,000 and RMB 122,815,000 (approximately HKD 135,527,000), compared to HKD 1,185,000,000 and RMB 148,610,000 (approximately HKD 166,361,000) in 2022[71]. - The company has maintained good communication with banks to mitigate funding risks due to increased regulatory scrutiny on capital outflows from mainland China[128]. - The company plans to increase the registered capital of certain subsidiaries to effectively reduce financing costs[128]. Stock Options and Dividends - The company has established a dividend policy aiming to distribute at least 30% of the annual profit attributable to equity holders as dividends, with a proposed final dividend of 5 HK cents per share for the current year[116][117]. - The stock option plan allows for the issuance of up to 108,000,000 shares, representing 9.6% of the total shares issued as of the report date[153]. - The stock options granted under the plan are valid for five years from the effective date, with specific performance conditions that may affect the number of options that become exercisable[150]. - The stock option plan has a validity period of ten years from the adoption date and will terminate on December 7, 2025[199]. - No stock options were granted under the stock option plan during the year, resulting in no revenue from this source[200].

Financial Performance - The company reported a basic and diluted earnings per share of 10.17 and 8.34 HKD respectively, representing a significant increase from the previous year[5]. - The group recorded a consolidated revenue of HKD 2,553,835,000 for the year ending December 31, 2023, a decrease of 11.9% compared to the same period last year[34]. - The annual gross profit was HKD 285,468,000, an increase of 12.0% year-on-year, while the profit attributable to shareholders rose by 22.0% to HKD 114,069,000[34]. - The company reported a total profit after tax of HKD 122,631,000 for the year, with significant contributions from various segments[118]. - The company's consolidated profit for the year ended December 31, 2023, was HKD 122,631,000, compared to HKD 108,025,000 for the same period in 2022, representing an increase of approximately 13.5%[155]. - Total revenue for the year ended December 31, 2023, was HKD 3,010,744,000, with external customer revenue contributing HKD 2,553,835,000[118]. - Operating profit for the year was HKD 130,112, down 19.8% from HKD 162,387 in 2022[188]. - Net profit for the year reached HKD 122,631, representing a 13.6% increase from HKD 108,025 in 2022[188]. - Total comprehensive income for the year was HKD 84,442, compared to a loss of HKD 33,464 in the previous year[189]. Assets and Liabilities - Total assets decreased to 4,546,346 thousand HKD from 4,569,780 thousand HKD year-on-year[26]. - The company’s liquidity ratio as of December 31, 2023, was 1.9, up from 1.8 in the previous year[81]. - The debt-to-equity ratio improved to 8.8% from 10.0% year-on-year, while the total debt ratio was 23.1%, slightly down from 23.5%[82]. - As of December 31, 2023, the total assets amounted to HKD 1,517,162,000, an increase from HKD 1,450,555,000 in 2022, indicating a growth of approximately 4.6%[166]. - The company has unfulfilled capital commitments amounting to HKD 15,227,000 as of December 31, 2023[127]. Operational Highlights - The company aims to enhance the "Belt and Road" development momentum, seeking new business opportunities in ASEAN markets such as Singapore, Malaysia, Thailand, and Vietnam[3]. - The company has successfully integrated logistics resources to build a modern port logistics system, enhancing regional port cooperation and competitiveness[2]. - The company is focused on developing a core port platform to support business growth and enhance market competitiveness[2]. - The group plans to continue focusing on engineering logistics and diversify new cargo sources, leveraging Hong Kong terminal resources to enhance revenue generation capabilities[57]. - The company is focusing on expanding logistics services and enhancing operational efficiency through various initiatives, including the introduction of new logistics models[63]. - The company is actively preparing for the construction of logistics networks in Vietnam, indicating plans for market expansion[158]. Passenger and Cargo Transport - The total passenger volume for the year was 1,476,000, representing a significant increase of 1,062.2% year-on-year, with local ferry passenger volume rising by 8.2% to 12,269,000[35]. - Container throughput for the year was 1,321,000 TEU, up 2.8% year-on-year, while bulk cargo throughput increased by 68.6% to 1,143,000 tons[56]. - The group’s container handling volume decreased by 3.2% to 1,095,000 TEU, while bulk cargo handling volume fell by 12.2% to 8,966,000 tons[58]. - The cross-border waterway passenger services resumed operations, contributing positively to the group's performance as border crossings normalized[35]. - The group has opened three new routes, enhancing its local ferry services and capitalizing on the recovery in passenger traffic[35]. - The passenger volume for the operational routes from Shekou, Zhongshan, Humen, Pazhou, and Shenzhen Airport reached 459,000, representing a year-on-year increase of 261.4%[74]. - The local ferry passenger traffic recorded 12,269,000 trips, an increase of 8.2% year-on-year, following the full resumption of travel between Hong Kong and the mainland[71]. Strategic Initiatives - The company is advancing its digital transformation projects, having successfully registered three software copyrights and completed the construction of a smart trailer scheduling platform[78]. - The company successfully obtained qualifications for cross-border e-commerce operations and is actively optimizing land transport capabilities[63]. - New cross-border passenger transport routes have been launched, including services from Shenzhen Airport Terminal to Hong Kong and Guangzhou to Hong Kong, contributing to increased operational efficiency[159]. - The group aims to build a comprehensive logistics development platform, focusing on high-end logistics services and expanding value-added business[161]. - The group is committed to high-quality development and creating shareholder value while contributing to the prosperity of the Guangdong-Hong Kong-Macao economy[187]. Governance and Compliance - The board confirmed full compliance with corporate governance codes throughout the reporting period[150].

Financial Performance - The group's total revenue for the first half of 2023 was HKD 1,233,130,000, a decline of 23.0% compared to the same period last year[9]. - The company reported a revenue of HKD 1,233,130,000 for the six months ended June 30, 2023, compared to HKD 1,601,198,000 for the same period in 2022, representing a decrease of approximately 23%[175]. - Gross profit for the period was HKD 122,507,000, slightly up from HKD 121,952,000 in the previous year, indicating a marginal increase of about 0.5%[175]. - Operating profit decreased to HKD 65,431,000 from HKD 99,845,000, reflecting a decline of approximately 34%[175]. - The net profit for the period was HKD 62,295,000, compared to HKD 61,690,000 in the prior year, showing a slight increase of about 1%[175]. - Basic and diluted earnings per share increased to HKD 5.21 from HKD 4.90, representing an increase of approximately 6.3%[175]. - The company’s financial income rose to HKD 8,630,000 from HKD 5,693,000, marking an increase of about 51%[175]. - The company incurred financial costs of HKD 12,065,000, up from HKD 8,815,000, indicating an increase of approximately 37%[175]. - The company’s segment revenue from cargo transportation was HKD 724,139,000, while the revenue from passenger services was HKD 167,381,000, both contributing to the overall revenue[178]. Cargo and Container Throughput - The group's container throughput was 527,000 TEU, a decrease of 7.8% compared to 571,000 TEU in the previous year[7]. - Bulk cargo throughput was 3,222,000 tons, down 20.2% from 4,036,000 tons year-on-year[7]. - Container transportation volume reached 646,000 TEU, a slight increase of 0.2% year-on-year[12]. - Bulk transportation volume was 202,000 tons, a significant decrease of 41.0% compared to 342,000 tons last year[12]. - The group completed a container throughput of 127,000 TEU at the Foshan area, up 3.2% year-on-year, with foreign trade container throughput increasing by 10.0% to 116,000 TEU[29]. - The overall container throughput in the Zhuhai area was 102,000 TEU, down 5.4% year-on-year, while the Doumen Port saw a slight increase of 1.5% to 32,000 TEU[34]. - The group reported a significant increase in bulk cargo handling, with a 160.4% year-on-year rise in bulk cargo throughput at Qingyuan Port, reaching 201,000 tons[33]. Passenger Volume and Transport - The total passenger volume for the group reached 6,333,000, representing a year-on-year increase of 23.4%[26]. - Total passenger volume for the period reached 647,000, a significant increase of 1,825.3% compared to the previous year[46]. - Terminal service passenger volume was 423,000, reflecting a substantial rise of 1,158.3% year-on-year[46]. - Local ferry passenger volume reached 6,333,000, up 23.4% from the previous year[52]. - The cross-border waterway passenger volume showed a notable increase, but remains below pre-pandemic levels[46]. - The Hong Kong International Airport terminal service recorded 209,000 passengers, a year-on-year increase of 522.9%[54]. - The shuttle bus service for the Hong Kong-Zhuhai-Macao Bridge achieved a passenger volume of 7,610,000, nearing pre-pandemic levels[54]. - The group has launched three new cross-border waterway routes connecting Shenzhen Airport and Guangzhou to Hong Kong, contributing to the growth in passenger traffic[26]. - The company is enhancing its local ferry business and has seen an increase in passenger volume, contributing to stable operational performance[114]. Strategic Initiatives and Future Plans - The group plans to enhance its logistics strategy by expanding into modern logistics services such as air freight and cold chain logistics[16]. - The company is actively pursuing strategic projects related to the Hong Kong "Northern Metropolis" and "Artificial Island" initiatives[16]. - The group aims to leverage opportunities from the "14th Five-Year Plan" and the Greater Bay Area development to drive high-quality growth[15]. - The company is focusing on risk management and digital transformation to optimize business processes and reduce operational costs[20]. - The company is focusing on developing engineering logistics and cross-border transportation, successfully winning multiple engineering logistics projects, including a sand supply project for the Hong Kong International Airport renovation[113]. - The company has expanded its cross-border railway transportation business, achieving growth in Southeast Asia routes and preparing for logistics network construction in Vietnam[113]. - The company continues to focus on expanding its services in high-speed waterway passenger transport and related businesses in the Guangdong-Hong Kong-Macao region[141]. Financial Position and Resources - As of June 30, 2023, the group had cash and cash equivalents amounting to HKD 1,053,079,000, representing 23.0% of total assets[63]. - The current ratio as of June 30, 2023, was 1.7, slightly down from 1.8 as of December 31, 2022[63]. - The group secured credit facilities totaling HKD 1,186,650,000 and RMB 135,710,000 (approximately HKD 147,191,000) as of June 30, 2023[63]. - The debt-to-equity ratio was 9.7% as of June 30, 2023, compared to 10.0% as of December 31, 2022[63]. - The total liabilities to total assets ratio increased to 25.5% as of June 30, 2023, from 23.5% as of December 31, 2022[63]. - The group had unfulfilled capital commitments of HKD 3,609,000 as of June 30, 2023, down from HKD 9,901,000 as of December 31, 2022[77]. - The group employed 2,207 staff as of June 30, 2023, with total employee costs amounting to HKD 289,182,000[79]. - The group has sufficient financial resources, including cash, operating cash flow, and available bank credit facilities, to meet future operational and expansion needs[64]. Risk Management and Compliance - The report indicates that the group is exposed to various financial risks, including market risk (currency and interest rate risks), credit risk, and liquidity risk[153]. - The company has maintained its risk management policies without any changes since the end of last year[137]. - The financial report does not include all financial risk management information and disclosures required by the annual financial statements[153]. - The independent review report from KPMG confirms that there are no reservations regarding the financial statements for the year ended December 31, 2022[150]. - The group has assessed the impact of new accounting guidelines issued by the Hong Kong Institute of Certified Public Accountants, but the full evaluation is not yet complete[159]. - The group has not applied any new standards or interpretations that have not yet come into effect during the current accounting period[160]. - The revised Hong Kong Financial Reporting Standards do not have a significant impact on the financial statements due to consistent accounting policy application[161]. Shareholder and Dividend Information - Major shareholder Guangdong Provincial Port and Shipping Group holds 784,817,520 shares, representing 70.0% of the total shares issued[97]. - The company decided not to declare an interim dividend for the year ending December 31, 2023, due to the economic impact of the pandemic and to preserve capital for potential acquisition opportunities[100]. - The total number of shares that can be issued under the stock option plan is 108,000,000, accounting for 9.6% of the company's issued shares as of the report date[92]. - As of June 30, 2023, the company has 98,608,000 shares remaining under the stock option plan, representing approximately 8.8% of the issued shares[94]. Operational Efficiency and Cost Management - The company is focusing on cost reduction and efficiency improvement through collaboration with cross-border passenger transport and fuel supply businesses[26]. - The company experienced a decrease in inventory, with an increase of HKD 808,000 compared to HKD 3,225,000 in the previous year, indicating improved inventory management[129]. - The company’s total liabilities increased, with a notable rise in accounts payable and accrued expenses by HKD 64,963,000, compared to HKD 126,516,000 in the previous year[129]. - The total cost of acquiring property, plant, and equipment was HKD 22,428,000, significantly lower than HKD 72,176,000 for the same period in 2022, reflecting a decrease of approximately 69%[185].

Container and Bulk Cargo Throughput - Zhaoqing Port achieved a container throughput of 92,000 TEU, an increase of 10.6% year-on-year, while bulk cargo throughput decreased by 14.5% to 2,173,000 tons[2]. - Qingyuan Port completed a container throughput of 57,000 TEU, up 6.5% year-on-year, and bulk cargo throughput surged by 160.4% to 201,000 tons[4]. - The overall container shipping volume was 646,000 TEU, a slight increase of 0.2% compared to the same period last year, while bulk cargo volume dropped by 41.0% to 202,000 tons[7]. - The group reported a container throughput of 527,000 TEU, a decrease of 7.8% compared to 571,000 TEU in the same period last year[28]. - The bulk cargo throughput was 3,222,000 tons, down 20.2% from 4,036,000 tons year-on-year[28]. - The container throughput in Hong Kong decreased significantly to 128,000 TEU, a year-on-year decline of 32.4%[33]. - The bulk cargo throughput in Hong Kong dropped to 428,000 tons, representing a year-on-year decrease of 24.1%[33]. - The joint venture in Jiangmen achieved a container throughput of 159,000 TEU, an increase of 6.2% year-on-year, while bulk cargo throughput surged by 543.2% to 696,000 tons[35]. - The Sanbu Port completed a container throughput of 75,000 TEU, up 15.0% year-on-year, and bulk cargo throughput increased by 113.8% to 153,000 tons[35]. - The bulk cargo throughput at Heshan Port reached 542,000 tons, marking a nearly 14-fold increase year-on-year[35]. - The Zhongshan Huangpu Port achieved a container throughput of 20,000 TEU, a significant increase of 49.6% year-on-year, and a bulk cargo throughput of 292,000 tons, up 62.3% year-on-year[32]. Financial Performance - The group reported a revenue of HKD 1,233,130 thousand for the six months ended June 30, 2023, compared to HKD 1,110,623 thousand in the same period of 2022, representing an increase of approximately 11%[57]. - The gross profit for the same period was HKD 122,507 thousand, slightly up from HKD 121,952 thousand year-on-year[57]. - Operating profit decreased to HKD 65,431 thousand from HKD 99,845 thousand, indicating a decline of about 34%[57]. - The net profit for the period was HKD 62,295 thousand, compared to HKD 61,690 thousand in the previous year, showing a modest increase of approximately 1%[58]. - The company reported a profit of 62,295 thousand HKD for the six months ended June 30, 2023, compared to 61,690 thousand HKD for the same period in 2022, reflecting a slight increase[82]. - The total comprehensive income for the period was 6,043 thousand HKD, a decrease from 22,314 thousand HKD in the previous year[83]. - The company's total assets as of June 30, 2023, were 4,574,559 thousand HKD, slightly up from 4,569,780 thousand HKD at the end of 2022[85]. - The company reported a basic and diluted earnings per share of 5.21 HKD, compared to 4.90 HKD in the previous year[69]. - Profit attributable to equity holders was HKD 58,387,000, an increase of 6.3% year-on-year[158]. - Total revenue for the six months ended June 30, 2023, was HKD 1,499,087,000, compared to HKD 1,167,002,000 in the previous period, reflecting a significant increase[101]. Passenger Volume and Services - The total passenger volume for local ferries reached 6,333,000, a 23.4% increase year-on-year, with peak daily passenger volume nearing 60,000 during public holidays[14]. - The group reported a total of 647,000 passengers for agency services, reflecting a significant increase of 1,825.3% year-on-year[6]. - The group’s joint venture operations saw a passenger volume of 7,610,000 for the Hong Kong-Zhuhai-Macao Bridge shuttle bus service, nearing pre-pandemic levels[15]. - The group’s water tourism business recorded a significant increase in passenger flow, reaching 21,000, up 261.4% year-on-year[14]. - The passenger volume for the Pearl River passenger service totaled 647,000, a significant year-on-year increase of 1,825.3%[39]. - The company has successfully launched new cross-border passenger routes, including three new lines connecting Guangzhou and Hong Kong[49]. - The company is enhancing its cross-border passenger transport services to recover market penetration rates[61]. - The company is focusing on developing the "Pearl of the Orient" Victoria Harbour tourism project to increase brand visibility and resource utilization in the passenger transport and tourism sector[67]. Financial Ratios and Credit Facilities - The group's bank loan-to-equity ratio was 9.7% as of June 30, 2023, down from 10.0% at the end of 2022, while the debt-to-asset ratio increased to 25.5% from 23.5%[5]. - The current ratio of the group was 1.7 as of June 30, 2023, down from 1.8 as of December 31, 2022[21]. - The group secured a credit facility totaling HKD 1,186,650,000 and RMB 135,710,000 (approximately HKD 147,191,000) as of June 30, 2023, compared to HKD 1,185,000,000 and RMB 148,610,000 (approximately HKD 166,361,000) as of December 31, 2022[21]. - Cash and cash equivalents as of June 30, 2023, amounted to HKD 1,053,079,000, accounting for 23.0% of total assets[40]. - The company has sufficient funds to support future business operations and expansions, relying on cash from operations and available bank credit[41]. - The group maintained sufficient financial resources, including cash and cash equivalents, to meet capital commitments of HKD 3,609,000 as of June 30, 2023, down from HKD 9,901,000 as of December 31, 2022[24]. Strategic Initiatives and Market Position - The group has expanded its market presence by launching new services, including a specialized line for ceramic products and enhancing local marketing strategies[2]. - The group has actively pursued cost reduction strategies and diversified its business to enhance market competitiveness amid a challenging global freight market[7]. - The company is actively developing engineering logistics and e-commerce logistics, with new projects launched to enhance market competitiveness[61]. - The company plans to leverage strategic opportunities from the "14th Five-Year Plan" and the Greater Bay Area development to drive high-quality growth[65]. - The logistics strategy will focus on expanding engineering logistics and modern logistics services, including cold chain and duty-free warehousing[66]. - The company aims to strengthen its operational management capabilities through the integration of logistics resources and digital information construction[64]. - The company is currently assessing the impact of new accounting guidelines on its financial policies, which may affect future reporting[125]. - The group plans to implement new accounting policies in line with the guidelines issued by the Hong Kong Institute of Certified Public Accountants[125]. - The company is exploring potential mergers and acquisitions to strengthen its market position and drive growth[1]. Challenges and Market Environment - Despite the recovery in domestic economic activity, the company continues to face challenges from a complex international environment and geopolitical risks affecting its port and logistics operations[47]. - The logistics market is experiencing a downturn, with container handling volume decreasing by 7.8% to 527,000 TEU[159]. - The company is focusing on innovation and strategic optimization to navigate the complex market environment[142].

Financial Performance - The company reported a consolidated revenue of HKD 2,899,545,000 for the year ended December 31, 2022, representing a 27.8% increase from HKD 2,268,408,000 in 2021[12] - Shareholders' profit attributable to the company was HKD 93,490,000, up 112.1% from HKD 44,074,000 in the previous year[12] - The group's share of profits from joint ventures and associates recorded a loss of HKD 19,125,000, a decrease of HKD 16,057,000 or 45.6% compared to the previous year[83] - The after-tax profit from the port logistics business was HKD 12,312,000, up from HKD 9,687,000 in the previous year, while the passenger transport business reported an after-tax loss of HKD 31,437,000, improved from a loss of HKD 44,869,000 in the previous year[83] - The company's net profit attributable to equity holders for the year was HKD 93,490,000, an increase of HKD 49,416,000 or 112.1% compared to the previous year[109] Operational Highlights - Container throughput (TEU) decreased by 2.3% to 1,131,000 TEU in 2022, compared to 1,158,000 TEU in 2021[20] - Bulk cargo throughput increased by 30.0% to 10,209,000 metric tons in 2022, up from 7,851,000 metric tons in 2021[20] - The total container throughput reached 1,285,000 TEU, a decrease of 9.2% year-on-year[33] - The bulk cargo throughput was 678,000 tons, an increase of 3.5% compared to the previous year[34] - The total passenger volume for the year was 127,000, reflecting a 22.1% increase year-on-year[32] Logistics and Expansion - The company successfully launched a waterborne e-commerce regular service route between Shenzhen and Hong Kong, enhancing its logistics capabilities[18] - The company expanded its logistics operations by establishing a new engineering logistics base in Yau Ma Tei, which successfully undertook significant transport projects[18] - The company aims to leverage the advantages of the Guangdong-Hong Kong-Macao Greater Bay Area to strengthen its logistics operations and expand its market reach[19] - The company is focusing on expanding logistics services and enhancing operational efficiency through innovative business models[22] - The company is focusing on logistics strategy upgrades and market expansion in the Guangdong-Hong Kong-Macao Greater Bay Area, including air freight logistics and e-commerce logistics[51] Environmental and Social Responsibility - The company recognizes the importance of sustainable development and is committed to minimizing its environmental impact by adhering to relevant laws and regulations[53] - The group actively promotes environmental awareness among employees and implements measures to improve resource efficiency, aiming to reduce fuel and electricity consumption[75] - The group has established annual environmental goals and action plans in line with the Hong Kong Stock Exchange's new ESG reporting guidelines[75] - The company has implemented various sustainable business practices to promote environmental and social sustainability, reflecting its commitment to corporate social responsibility[99] Human Resources and Employee Management - The total employee cost for the year is HKD 569,975,000, up from HKD 549,786,000 in the previous year, reflecting the company's commitment to employee compensation and benefits[121] - The company has employed 2,231 staff as of December 31, 2022, a slight increase from 2,212 in the previous year[121] - The company has invested in employee training to enhance skills and knowledge, ensuring compliance with labor regulations and improving performance[102] - The company has implemented measures to enhance human resource management and employee training to address recruitment challenges and high turnover rates[128] Financial Management and Strategy - As of December 31, 2022, the current ratio was 1.8, unchanged from the previous year[85] - The debt-to-equity ratio was 10.0% as of December 31, 2022, down from 11.2% in the previous year, while the debt ratio was 23.5%, a slight decrease from 24.4% in the previous year[87] - The company maintained a strong liquidity position with total bank borrowings of HKD 1,185,000,000 and RMB 148,610,000 (approximately HKD 166,361,000) as of December 31, 2022[109] - The company's distributable reserves as of December 31, 2022, amounted to HKD 1,445,952,000, an increase from HKD 1,428,417,000 in 2021, with HKD 67,270,000 proposed for the final and special dividends[175] - The group maintains a prudent financial management policy, with all financing and investment activities overseen by the management[81] Challenges and Risks - The company has identified significant risks including demand fluctuations and market competition, which may impact its operational performance[126] - The logistics demand has severely decreased, with a continuous decline in foreign trade container and bulk cargo business volume due to economic downturns[146] - The group's cross-border water passenger transport business has been suspended due to the pandemic, significantly weakening its competitiveness in the Greater Bay Area[147] - The overall passenger flow is expected to decline compared to early 2020, influenced by the improvement of high-speed rail and cross-border bus services[147] Governance and Compliance - The governance committee was established to assist the board in fulfilling its responsibilities regarding environmental, social, and governance matters[98] - The company's board of directors has confirmed compliance with the standards of conduct for securities trading throughout the reporting period[183] - The company has not experienced any significant legal violations or regulatory penalties in the past year[186] Shareholder Returns - The board has adopted a dividend policy aiming to distribute at least 30% of the profit attributable to equity holders as dividends each fiscal year[119] - The dividend declared for the year 2022 is HKD 0.06 per share, representing a payout ratio of 71.95%, an increase from the previous year's 50.88%[120]