C 中國通商 中國通商集團有限公司 China Infrastructure & Logistics Group Ltd. (於同曼群島註冊成立之有限公司) 股份代號:1719 2022 中期 業績報告 依托長江贡金水通 进設 单中航運中心 發展中部物流基地 目錄 公司資料 2 業務及財務摘要 5 管理層討論及分析 12 未來展望 25 中期財務資料 28 其他資料 68 1 中國通商集團有限公司 2022年中期報告 公司資料 | --- | --- | |--------------------------------------------------------------------------|----------------------------------------------------------------------------| | | | | 董事 | 審核委員會成員 | | 主席兼執行董事： | 鄒國強先生 （主席） | | 李小明先生 | （於二零二二年五月二十五日獲委任） | | （於二零二二年五月二十五日獲委任） | 徐傲凌先生 | | 聯席主席兼非執行董事： | （於二 ...

Financial Performance - The total revenue for the year ended December 31, 2021, was HKD 253,839,000, representing an increase from HKD 247,671,000 in the previous year[4] - The cost of goods sold for the same period was HKD 198,290,000, up from HKD 193,348,000, indicating a rise in operational costs[4] - The company maintained its overall performance figures as disclosed in the unaudited and audited annual results announcements[8] Assets and Liabilities - The total non-current assets amounted to HKD 895,932,000, reflecting an increase from the previous year's figure[5] - The total current liabilities were reported at HKD 103,935,000, showing a slight increase compared to the previous year[5] Tax and Provisions - The company recognized a deferred tax impact of approximately HKD 6,260,000 due to a reduction in government grants[6] - The expected credit loss provision for other receivables was approximately HKD 2,250,000, affecting the income tax[6] Currency Impact - The average exchange rate for RMB to HKD was updated from 1.23 to 1.20, impacting the financial statements[5] Governance - The board of directors includes a mix of executive and independent non-executive members, ensuring diverse governance[9] Investment Focus - The company is focused on enhancing its investment properties, which accounted for a significant portion of its non-current assets[5]

Financial Performance - The company's revenue for the year ended December 31, 2021, was HKD 247,671,000, a decrease of 40.8% from HKD 417,862,000 in 2020[13] - Gross profit for the same period was HKD 54,323,000, down 39.5% from HKD 89,586,000 in 2020[13] - Operating profit before interest, tax, depreciation, and amortization was HKD 13,393,000, a decline of 77.9% compared to HKD 60,543,000 in the previous year[13] - The net profit attributable to owners of the company from continuing operations was HKD 21,650,000, down 22.4% from HKD 27,872,000 in 2020[19] - The earnings per share from continuing operations for 2021 was HKD 1.26, down from HKD 1.62 in 2020[19] - The profit attributable to the owners from continuing operations for the year ended December 31, 2021, was HKD 21.65 million, compared to HKD 27.87 million in 2020, reflecting a decrease of approximately 22%[29] - The company's revenue reported a decline, achieving HKD 352 million for the year 2021, compared to HKD 417.9 million in 2020[23] - The group's revenue from ongoing operations for the year ended December 31, 2021, was HKD 247.671 million, a decrease of 40.7% from HKD 417.862 million in 2020[56] - The company's profit attributable to the company's owners decreased by HKD 6,220,000 or approximately 22.3% to HKD 21,650,000 for the year ended December 31, 2021, compared to HKD 27,870,000 in 2020[80] - The basic and diluted earnings per share for the year ended December 31, 2021, were HKD 1.26, a decrease of 22.2% from HKD 1.62 in 2020[80] Operational Highlights - The company reported a total of 593,009 TEUs (Twenty-foot Equivalent Units) in container throughput for 2021, a decrease from 612,028 TEUs in 2020[21] - The total container throughput at Wuhan Yangluo Port for the year ended December 31, 2021, was 720,021 TEUs, an increase of 12.1% from 642,131 TEUs in 2020[62] - The market share for the company in 2021 was 38%, down from 44% in 2020[22] - The market share of the group decreased to approximately 39.1% from 43.6% in 2020, mainly due to ongoing competition from neighboring ports[67] - The company has successfully opened a new direct shipping route from Yangluo Port to Busan Port in South Korea, marking the first direct shipping line to South Korea from the central region of China[30] - The company has established three international shipping routes, enhancing its logistics capabilities and contributing to the "Belt and Road" initiative and the dual circulation strategy[30] Strategic Initiatives - The company plans to expand its logistics base in Central China, leveraging the Yangtze River Golden Waterway[4] - The company aims to provide comprehensive port services, multimodal logistics distribution, and infrastructure construction, focusing on building a leading logistics ecosystem in the region[32] - The company has developed port-related services, including bonded warehouses and customs clearance, to diversify its revenue sources[38] - The company has established a new logistics supply chain solution connecting Zhoushan to Yangluo Port, facilitating trade with the Chengyu region[29] - The company is optimistic about the future of its port business in Wuhan, aiming for a container throughput of 5 million TEU by 2025[89] Financial Position - The company incurred a net financing cost of HKD 23,869,000, reduced from HKD 35,041,000 in the previous year[13] - The total outstanding interest-bearing borrowings as of December 31, 2021, amounted to HKD 350,980,000, down from HKD 456,490,000 in 2020[91] - The total cash and cash equivalents as of December 31, 2021, were HKD 31,130,000, compared to HKD 38,180,000 in 2020[91] - The net asset value as of December 31, 2021, was HKD 949,180,000, an increase from HKD 922,310,000 in 2020[91] - The group's net current liabilities decreased to HKD 292,830,000 from HKD 384,150,000 in 2020, with current assets at HKD 150,080,000 compared to HKD 250,480,000 in 2020, resulting in a current ratio of 0.3, down from 0.4 in 2020[92] Governance and Compliance - The board consists of three executive directors, two non-executive directors, and three independent non-executive directors, providing a diverse governance structure[125] - The company has adopted the corporate governance code as per the listing rules, and has complied with all provisions during the fiscal year ending December 31, 2021[141] - The board consists of eight members, including three executive directors and three independent non-executive directors, ensuring a balanced governance structure[142] - The company has established appropriate insurance to protect directors and senior officers against potential liabilities arising from company activities[149] - The board has confirmed the effectiveness and adequacy of the internal control and risk management systems, with no significant failures reported[180] Human Resources - The total remuneration paid to employees, including retirement contributions, reached HKD 76,690,000 for the year ended December 31, 2021, compared to HKD 57,060,000 in 2020[104] - As of December 31, 2021, the total number of employees was 389, a decrease from 476 in the previous year, indicating a reduction in workforce[123] - The group is focused on retaining talent amid competitive labor conditions, offering attractive compensation to meet business objectives[111] Risks and Challenges - The group identified operational risks including equipment failures and adverse weather conditions that could disrupt operations and lead to revenue losses[107] - The company faces operational risks in supply chain management due to intense competition and the potential inability to attract and retain customers[117] - Credit risk exists due to the time lag between payments to suppliers and collections from customers, which may adversely affect cash flow and financial condition[118] - Inventory risk arises from potential order cancellations by customers, leading to excess inventory that could negatively impact financial performance[119] - The company must maintain sufficient working capital levels to support its business model, and failure to do so could significantly affect operations and financial results[120] Environmental, Social, and Governance (ESG) - The reporting period for the environmental, social, and governance (ESG) report covers January 1, 2021, to December 31, 2021[200] - The ESG report aims to address stakeholders' concerns regarding the company's sustainable development and improve data collection and reporting systems[199] - The environmental key performance indicators include operations from nine subsidiaries contributing significantly to profits, located in the Hubei province of China[200]

中國通商 中國通商集團有限公司 China Infrastructure & Logistics Group Ltd. (於同曼群島註冊成立之有限公司) 股份代號:1719 2021 依托長江贡金水道 建設 林中航運中心 發展中部物流基地 中 期 業 績 報 告 目錄 公司資料 2 業務及財務摘要 4 管理層討論及分析 12 未來展望 26 中期財務資料 29 其他資料 69 1 中國通商集團有限公司 2021年中期報告 | --- | --- | |-------------------------------------------|-----------------------------------| | 董事 | 提名委員會成員 | | 聯席主席兼非執行董事： | 黃煒強先生， FCA, FCPA （主席） | | 閻志先生 | 李鏡波先生， LLM, FCCA, FCPA | | 聯席主席兼執行董事： | 毛振華博士 | | 彭池先生 | 夏禹先生 | | 執行董事： | 合規主任 | | 謝炳木先生 | | | 張際偉先生 | 謝炳木先生 | | 非執行董事： | 授權代表 | | 夏禹先生 | ...

Financial Performance - For the year ended December 31, 2020, the profit attributable to the owners of the company was HKD 25,860,000, down from HKD 34,530,000 in 2019, reflecting a decrease of approximately 25.3%[22] - Total revenue for 2020 was HKD 443,550,000, an increase of 26.0% compared to HKD 352,021,000 in 2019[12] - The gross profit for 2020 was HKD 90,428,000, down from HKD 104,564,000 in 2019, indicating a decline of about 13.5%[12] - The operating profit before interest, tax, depreciation, and amortization was HKD 59,303,000, compared to HKD 73,264,000 in the previous year, a decrease of approximately 19.1%[12] - The company reported a net financing cost of HKD 35,039,000, which increased significantly from HKD 19,554,000 in 2019[12] - The significant revenue increase was primarily driven by a substantial rise in supply chain management and trading business, which generated HKD 229,550,000, largely due to the launch of cement and non-ferrous metal trading in the second half of 2020[49] - The construction services revenue decreased by HKD 100,780,000 due to slow project progress caused by the COVID-19 pandemic in the first half of 2020[49] - Revenue from integrated logistics services decreased by HKD 28,090,000 to HKD 34,580,000, accounting for approximately 7.8% of total revenue for the year[58] - Revenue from property business increased to HKD 13,460,000, up from HKD 8,620,000, representing approximately 3.0% of total revenue[61] - Construction revenue decreased to HKD 25,690,000 from HKD 126,470,000, accounting for approximately 5.8% of total revenue[63] Operational Highlights - Container throughput for 2020 was 593,009 TEUs, a decrease from 612,028 TEUs in 2019[15] - The market share in terms of revenue was 38% in 2020, down from 44% in 2019[16] - The total container throughput for Wuhan Yangluo Port for the year ended December 31, 2020, was 642,131 TEUs, an increase of 30,103 TEUs or approximately 4.9% compared to 612,028 TEUs in 2019[51] - Local cargo throughput decreased by approximately 9.3% to 316,915 TEUs, while transshipment cargo increased by approximately 23.8% to 325,216 TEUs[51] - The market share of Wuhan Yangluo Port increased to approximately 43.6% in 2020, up from 38.0% in 2019, primarily due to the closure of competing ports during the pandemic[56] Strategic Initiatives - The company plans to continue leveraging its port operations and government subsidies to enhance profitability in the future[22] - The company signed a cooperation agreement with Wuhan Economic Development Port Co., Ltd. to integrate operations, launching the first daily waterway shuttle service in the Yangtze River's upper reaches on April 22, 2020, enhancing logistics efficiency and reducing costs[23] - The direct container shipping route from Wuhan to Japan officially commenced on May 9, 2020, marking the first international container shipping line in the Yangtze River's upper reaches, which is a significant milestone[23] - On November 26, 2020, the company launched the Wuhan-Huai'an-Xuzhou container shipping route, the first full container shipping line connecting the Yangtze River's upper reaches with the Grand Canal, facilitating logistics and reducing costs for the region[24] - The company remains optimistic about the future of China's port industry and plans to continue developing integrated port services, multi-modal logistics, and infrastructure construction to build a leading logistics ecosystem[25] - The company aims to expand its business by integrating solid waste treatment and resource regeneration in the Yangtze River basin, focusing on environmental industry investments and operations[25] Financial Position - The total outstanding interest-bearing borrowings as of December 31, 2020, was HKD 456,490,000, down from HKD 493,470,000 in 2019[80] - The net cash inflow from operating activities for the year was HKD 8,640,000, a decrease from HKD 49,870,000 in 2019[80] - The company's cash and cash equivalents totaled HKD 38,180,000 as of December 31, 2020, compared to HKD 93,330,000 in 2019[80] - The net capital debt ratio as of December 31, 2020, was 0.5 times, down from 0.6 times in 2019[80] - As of December 31, 2020, the group's net current liabilities increased to HKD 384,150,000 from HKD 249,090,000 in 2019, with current assets at HKD 250,480,000, down from HKD 350,640,000 in 2019, resulting in a current ratio of 0.4, down from 0.6 in 2019[81] Governance and Management - The board consists of three executive directors, two non-executive directors, and three independent non-executive directors, with diverse experience across various industries[117] - The company has maintained high standards of corporate governance, ensuring accountability and transparency in management practices[131] - The board consists of eight members, including three executive directors and three independent non-executive directors, ensuring a balanced governance structure[133] - The company has adopted the corporate governance code as per the listing rules, complying with all provisions for the year ended December 31, 2020[132] - The audit committee consists of three independent non-executive directors and one non-executive director, overseeing the group's financial performance and risk management systems[142] - The nomination committee evaluates the board's structure and composition annually, considering factors such as gender, age, and professional experience[143] Environmental, Social, and Governance (ESG) Focus - The report period covers from January 1, 2020, to December 31, 2020, focusing on environmental, social, and governance performance[183] - The company emphasizes the importance of environmental, social, and governance (ESG) reporting, stating that it should reflect the performance without bias and should be based on measurable key performance indicators[188] - The company aims to create long-term value for stakeholders while maintaining high service quality and operational standards, focusing on sustainable development[189] - The company has identified 21 potential ESG issues that impact the environment and society through its operations, based on the ESG reporting guidelines[198] - The company is committed to energy savings, reducing greenhouse gas emissions, and providing a safe and healthy work environment for employees[190]

Revenue and Profitability - Revenue decreased by approximately 33.6% to HKD 75,230,000 compared to HKD 113,300,000 in the same period last year, primarily due to the COVID-19 pandemic affecting operations in Hubei Province and other regions in China[10]. - The company reported a loss of HKD 10,251,000 for the period, compared to a profit of HKD 14,045,000 in the previous year[7]. - Basic and diluted loss per share was HKD 0.47, compared to earnings of HKD 0.79 per share in the same period last year[7]. - The loss attributable to the company's owners for the period was HKD 8,150,000, a decrease of 159.5% compared to a profit of HKD 13,690,000 in the previous period[12]. - The group reported a net loss of HKD 10,251,000 for the six months ended June 30, 2020, compared to a profit of HKD 14,045,000 in the same period of 2019[89]. - The company's revenue for the six months ended June 30, 2020, was HKD 75,230,000, a decrease of HKD 38,070,000 or approximately 33.6% compared to HKD 113,300,000 for the same period in 2019[61]. Operational Performance - The overall container throughput at Wuhan Yangluo Port decreased by approximately 29.0% to 205,878 TEUs, down from 290,082 TEUs in the same period last year[10]. - The revenue from integrated logistics services decreased by approximately HKD 20,060,000, while revenue from terminal services dropped by about HKD 7,830,000 due to a decline in container throughput[10]. - The local cargo throughput decreased by approximately 29.8% to 125,171 TEUs, while transshipment cargo throughput fell by about 27.7% to 80,707 TEUs[10]. - The group expects to increase container throughput at Wuhan Yangluo Port due to the management of all containers and cargo from the Economic Development Port, which will enhance competitiveness and overall revenue[18]. - The group aims to achieve a container throughput of 5 million TEU at Wuhan Port by 2025, in line with government targets for the port to become a "billion-ton port" and a core container hub in the Yangtze River basin[87]. Strategic Initiatives - The company is focusing on developing logistics bases in Central China and expanding its market presence[2]. - The collaboration agreement with Wuhan Economic Development Port Company aims to enhance management and operational processes at the port over an eight-year period[16]. - The company is expanding its port-related services, including bonded warehouses and logistics services at Wuhan Yangluo Port, to diversify revenue sources[29]. - The strategic development of Sayang Port aims to create synergies with Wuhan Yangluo Port, enhancing its position as a logistics center along the Yangtze River[40]. - The company signed a cooperation agreement for integrated operations with Jingkai Port to enhance competitiveness and reduce harmful competition among ports[83]. Financial Position - The group's total assets as of June 30, 2020, were HKD 1,150,914,000, a decrease from HKD 1,229,745,000 as of December 31, 2019[104]. - The net asset value as of June 30, 2020, was HKD 816,116,000, down from HKD 842,326,000 at the end of 2019, reflecting a decline of 3.1%[110]. - The total equity attributable to owners of the company as of June 30, 2020, was HKD 671,519,000, down from HKD 693,073,000 at the end of 2019, representing a decrease of 3.1%[111]. - The group's total liabilities were HKD 912,067,000 as of June 30, 2020[129]. Cash Flow and Liquidity - The cash flow from operating activities for the six months ended June 30, 2020, was a net outflow of HKD 20,086,000, compared to a net inflow of HKD 7,200,000 for the same period in 2019[110]. - Cash and cash equivalents decreased by HKD 45,338,000 during the six months ended June 30, 2020, resulting in a balance of HKD 46,728,000[110]. - The company incurred a net cash outflow from investing activities of HKD 9,709,000 for the six months ended June 30, 2020, compared to HKD 9,471,000 in the prior year[110]. - Current liabilities net amount stood at HKD 293,455,000, raising concerns about the group's ability to continue as a going concern[118]. - The group expects to generate positive cash flow in the next twelve months from the reporting date[118]. Market Conditions and Future Outlook - Future outlook indicates a slow economic recovery, impacting overall business volume and performance[10]. - The company expects domestic trade business growth to offset losses from reduced foreign trade due to the international pandemic impact[81]. - The group continues to focus on the development of green smart ports and ecological industrial chains in Hubei Province, supported by local government policies[85]. Employee and Operational Costs - Employee costs decreased to HKD 23,947,000 in 2020 from HKD 31,617,000 in 2019, reflecting a reduction of about 24.5%[147]. - The group's administrative expenses decreased to HKD 21,243,000 in the first half of 2020 from HKD 23,093,000 in the same period of 2019, indicating cost control efforts[90]. Investment and Development - The company has invested in the development of Shipaigang, a mixed-use port area in Hubei province, covering approximately 25 square kilometers, to expand geographical coverage and create synergies between ports[42]. - The completion of the first phase of Hannan Port is expected to enhance the throughput capacity of Wuhan Yangluo Port, meeting the growing demand for logistics services in Wuhan[39]. - The company plans to develop Hannan Port into a multi-purpose port, currently in the early construction phase, to further expand its operational capabilities[39]. Compliance and Governance - The board approved the publication of the interim financial statements on August 28, 2020, which were reviewed by the audit committee[114]. - The group adopted new and revised International Financial Reporting Standards, which did not have a significant impact on the financial performance and position for the period[121].

0中國通商 China Infrastructure & Logistics Group Ltd. (於開曼群島註冊成立之有限公司) 股份代號：1719 依托長江黃金水通 建設毕中航運中心 股展中部物流基地 2019 年 報 il L red T la ic 0 1 IP TIE lesty P 2018 BEEE B 目錄 | --- | --- | --- | --- | --- | --- | --- | |-------|-----------|--------------------------|-------|-------|-------|-------| | | | | | | | | | | | | | | | | | | | | | | | | | | 2 | 公司資料 | | | | | | | 4 | 財務摘要 | | | | | | | 6 | 主席報告 | | | | | | | 9 | 管理層討論及分析 | | | | | | | 23 | 董事及高級管理人員 | | | | | | | 27 | 企業管治報告 | | | | | | | 37 | 環境、社會及管治報告 | | ...

Financial Performance - Revenue for the six months ended June 30, 2019, decreased by approximately 10.2% to HKD 113,298,000 compared to HKD 126,111,000 in the same period of 2018[9] - Gross profit fell by 23.5% to HKD 43,134,000, with a gross margin of 38.1%, down from 44.7% in the previous year[11] - Net profit attributable to shareholders decreased to HKD 14,045,000, resulting in basic and diluted earnings per share of HKD 0.79, compared to HKD 1.30 in 2018[9] - EBITDA decreased by approximately 45.9% to HKD 30,920,000, impacted by a reduction in gross profit and other income[13] - The profit attributable to the company's owners decreased by 38.8% to HKD 13,690,000 for the period, compared to HKD 22,360,000 in the same period of 2018[15] - The company reported a net profit before tax of HKD 21,737,000, compared to HKD 40,506,000 in the prior year, a decline of about 46.3%[17] - Total comprehensive income for the period was HKD 11,465,000, down from HKD 14,337,000 in the prior year[65] - The net profit for the period was HKD 141,779,000, showing a significant growth from HKD 139,749,000 in the same period last year[81] - The group’s total profit for the period was HKD 14,045 million, demonstrating resilience amid market conditions[119] Revenue Breakdown - The revenue from integrated logistics services decreased to HKD 33,060,000, accounting for approximately 29.2% of total revenue, down from 35.4% in the previous year[46] - The revenue from property business decreased to HKD 3,530,000, representing about 3.1% of total revenue, down from 14.2% in the prior year[47] - Total revenue for the six months ended June 30, 2019, was HKD 113,298 million, with significant contributions from the terminal and related services segment at HKD 66,508 million, and integrated logistics services at HKD 34,931 million[119] Operational Metrics - The overall container throughput increased by approximately 5.4% to 290,082 TEUs, driven by an 11.8% increase in local cargo throughput[11] - Market share for container throughput in Wuhan decreased from 40.7% to 37.1% due to competition from neighboring ports[13] - The average rate for local cargo was RMB 210 (HKD 245), a decrease of approximately 0.5% compared to RMB 211 (HKD 260) in the previous year[43] - The average rate for transshipment cargo increased by approximately 10.0%, reaching RMB 55 (HKD 64) compared to RMB 50 (HKD 61) in the prior year[43] Strategic Initiatives - The company plans to enhance competitiveness by adjusting service rates to align with neighboring ports[11] - Future strategies include expanding logistics services and exploring government support for logistics center development[13] - The company plans to expand its geographical coverage and create synergies between Wuhan Yangluo Port and Hannan Port, enhancing its competitive position in the logistics market[26] - The group remains optimistic about the port business in China, expecting continued growth in freight volume, particularly along the Yangtze River Economic Belt[56] - Strategic cooperation has been established with the Hubei Provincial Port and Shipping Administration to develop green port projects, which will bring strategic investment and support overall corporate development[58] Asset and Liability Management - Total assets as of June 30, 2019, were HKD 1,384,677,000, compared to HKD 1,369,568,000 at the end of 2018, reflecting a slight increase[71] - The company's total liabilities decreased from HKD 579,937,000 at the end of 2018 to HKD 486,688,000 as of June 30, 2019[74] - The group’s lease liabilities as of June 30, 2019, amounted to HKD 1,671,000, with HKD 628,000 due within one year[183] Compliance and Governance - The company is required to disclose interests and short positions of directors and senior executives in accordance with the Securities and Futures Ordinance[199] - The company maintains a register of interests and short positions as mandated by Section 352 of the Securities and Futures Ordinance[199] - The company adheres to the standards set out in the Listing Rules Appendix 10 regarding securities trading by directors[199] - The disclosure includes interests that are deemed to be owned under the Securities and Futures Ordinance[199] Financial Reporting Standards - The implementation of IFRS 16 "Leases" has been adopted, which may impact the financial presentation but has no significant effect on the current period's performance[92] - The group has adopted the modified retrospective approach for IFRS 16, meaning comparative information has not been restated[100] - Management must make significant judgments and estimates when preparing interim financial information, which may differ from actual results[113]

7中國通商 China Infrastructure & L China Infrastructure & Logistics Group Ltd. 中 國 通 商 集 團 有 限 公 司 ( 前 稱中 國 基 建 港 口 有 限 公 司) (於開曼群島註冊成立之有限公司) 股份代號：1719 2018 年 報 | --- | --- | --- | --- | --- | --- | |-------|------------------------------------------------------------------|-------|-------|-------|-------| | | | | | | | | | | | | | | | | | | | | | | | 依 托 長 江 黃 金 水 道 建設華中航運中心 發 展 中 部 物 流 基 地 | | | | | | | | | | | | | | | | | | | 1ST Proof ♠ Job > CI & LG LTd. ♠ Name > 01C1901179 CoNTeNT ♠ daTe > 201904130953 ♠ ...