Financial Performance - The company's operating revenue for Q1 2024 was approximately ¥2.89 billion, a slight increase of 0.44% compared to the same period last year[4] - The net profit attributable to shareholders decreased by 4.58% to approximately ¥371.92 million compared to the previous year[4] - The net profit after deducting non-recurring gains and losses was approximately ¥369.97 million, down 4.09% year-on-year[4] - The net cash flow from operating activities was approximately ¥197.77 million, a decrease of 33.65% compared to the previous year[5] - Total operating revenue for Q1 2024 was CNY 2,888,591,436.36, a slight increase from CNY 2,875,939,769.06 in Q1 2023, representing a growth of approximately 0.55%[23] - Total operating costs for Q1 2024 were CNY 2,380,520,757.89, compared to CNY 2,337,680,965.82 in Q1 2023, indicating an increase of about 1.83%[23] - The company reported a net profit of CNY 508,000,000 for Q1 2024, compared to CNY 500,000,000 in Q1 2023, representing a growth of 1.6%[23] - Net profit attributable to shareholders of the parent company for Q1 2024 was CNY 371,916,738.99, a decrease from CNY 389,748,998.94 in Q1 2023, representing a decline of approximately 4.3%[25] - Total comprehensive income for Q1 2024 was CNY 418,060,026.30, compared to CNY 426,215,182.33 in Q1 2023, indicating a decrease of about 1.3%[25] - The company’s total profit for Q1 2024 was CNY 567,332,157.39, down from CNY 579,397,596.35 in Q1 2023, reflecting a decrease of approximately 2.9%[24] Assets and Liabilities - The total assets at the end of the reporting period were approximately ¥57.34 billion, an increase of 1.75% from the end of the previous year[5] - The equity attributable to shareholders increased by 0.99% to approximately ¥39.99 billion compared to the end of the previous year[5] - Cash and cash equivalents as of March 31, 2024, amounted to CNY 6,186,610,792.66, up from CNY 5,228,415,449.28 at the end of 2023, reflecting a growth of approximately 18.36%[19] - Accounts receivable increased to CNY 3,852,504,862.15 from CNY 3,304,178,653.31, marking a rise of about 16.58%[19] - Total assets as of March 31, 2024, were CNY 57,341,588,442.28, compared to CNY 56,352,939,728.84 at the end of 2023, showing an increase of approximately 1.75%[20] - Total liabilities reached CNY 14,172,917,294.83, up from CNY 13,623,749,088.14, indicating a growth of about 4.03%[22] - Non-current assets totaled CNY 45,726,717,405.20, a decrease from CNY 46,236,355,578.53, reflecting a decline of approximately 1.10%[20] Cash Flow and Expenses - The company reported a significant decrease in research and development expenses by 59.71% due to a reduction in R&D projects[10] - The company experienced a 700.68% increase in net cash flow from financing activities, primarily due to bond issuance and loan repayments[10] - Operating cash flow for Q1 2024 was CNY 197,770,536.48, down from CNY 298,088,028.52 in Q1 2023, reflecting a decline of approximately 33.6%[26] - Financial expenses in Q1 2024 were CNY 95,553,144.23, a decrease from CNY 114,563,893.56 in Q1 2023, representing a decline of approximately 16.6%[24] - The company reported a net cash outflow from investing activities of CNY 29,041,573.14 in Q1 2024, compared to a net outflow of CNY 111,543,038.91 in Q1 2023, indicating an improvement in cash flow management[27] Shareholder Information - The total number of ordinary shareholders at the end of the reporting period was 240,322, with the largest shareholder, Yingkou Port Group Co., Ltd., holding 28.83% of shares[12] - The company’s major shareholders include state-owned entities, with Yingkou Port Group Co., Ltd. being the controlling shareholder[13] Operational Highlights - Container throughput reached 255.8 million TEU, an increase of 11.1% compared to 230.3 million TEU in the same period last year[16] - The volume of bulk cargo increased by 2.6%, totaling 4,557.5 million tons, compared to 4,442.3 million tons in the previous year[16] - The company reported a decrease in passenger roll-on/roll-off traffic by 20.3%, with 55.0 million passengers compared to 69.0 million in the same period last year[16] - The total oil and chemical throughput was stable at 1,252.9 million tons, slightly down by 0.8% from 1,262.8 million tons[16] - The company experienced a decline in the volume of passenger vehicles handled, down 3.9% to 17.4 million vehicles[17] - The company has seen a significant increase in domestic container traffic due to ongoing economic recovery and enhanced intermodal services[16] - The company is focusing on expanding its international shipping routes and enhancing its logistics capabilities to drive growth[16] Future Outlook and Strategic Plans - The company plans to expand its market presence and invest in new technologies to enhance operational efficiency in the upcoming quarters[23] - The company is focusing on improving its inventory management, with current inventory valued at CNY 128,599,301.54, down from CNY 133,306,714.38, indicating a reduction of about 3.67%[19] Regulatory and Reporting Information - The financial statements for the first quarter of 2024 are unaudited, with the balance sheet prepared as of March 31, 2024[18] - The financial report is announced by the board of directors of Liaoning Port Co., Ltd. on April 26, 2024[28] - The report includes a summary of performance, user data, future outlook, and performance guidance[28] - The company will implement new accounting standards starting in 2024, which will affect the financial statements from the beginning of the year[28] - The report indicates that the company is not applicable for the new accounting standards adjustments[28] - The financial report is overseen by key personnel including Wang Zhixian, Tang Ming, and Wang Jinsong[28] - The document is structured to comply with regulatory requirements for financial disclosures[28] - The report does not provide specific numerical data or percentage changes in performance metrics[28] - The company emphasizes the importance of accurate information in its financial reporting[28]

Operational Achievements - In 2023, the group completed a record 632,000 roll-on/roll-off vehicles at the passenger terminal, increasing market share to 48.4%[16] - The group launched the first bulk cargo liner route from Dalian to Ravenna, Italy, enhancing the global network for bulk cargo shipping[10] - The container terminal's Mediterranean DRAGON line was officially launched, increasing the number of ocean routes to four[12] - The group received its 1,000th VLCC (Very Large Crude Carrier) at the oil terminal, marking a significant milestone since the terminal's establishment in 2004[15] - The group opened the Qingdao Yuanda domestic trade Wuhu line, significantly reducing transportation time by 3-4 days compared to previous transshipment methods[18] - The group introduced the Mediterranean DOLPHIN line, restoring direct shipping services to the third largest port in Indonesia, enhancing service capabilities[13] - The group expanded its container shipping services with the addition of the ICN line, improving logistics for exports of fruits and chemicals[17] - The company opened 9 new container shipping routes and 4 domestic bulk cargo routes in 2023, enhancing its network layout[23] - The company reported a total throughput of 5,474.7 million tons in 2023, an increase of 3.4% compared to 2022[65] - Crude oil throughput reached 3,610.9 million tons in 2023, up 8.1% year-on-year, with imported crude oil increasing by 4.4% to 2,132.3 million tons[65] - Container throughput reached 1,026.3 million TEUs in 2023, marking a 9.2% increase compared to 2022[69] - The automotive terminal achieved a throughput of 808,221 vehicles in 2023, a slight increase of 0.3% compared to 2022, driven by significant growth in foreign trade vehicle operations[74] - The grain terminal's throughput increased by 2.9% year-on-year to 1,528.0 million tons, with significant growth in soybean throughput by 49.5% to 362.2 million tons[81] - The passenger roll-on/roll-off terminal recorded a throughput of 352.3 million passengers, a remarkable increase of 144.5% year-on-year, alongside a 22.5% growth in roll-on/roll-off vehicle throughput to 98.1 million vehicles[85] Financial Performance - In 2023, the company's net profit attributable to shareholders reached RMB 1,343,109,072.73, representing a year-on-year increase of 1.93%[20] - The company's operating revenue for 2023 was RMB 12,219,879,000, a slight increase of 0.43% compared to RMB 12,167,472,000 in 2022[27] - The gross profit for 2023 was RMB 3,390,095,000, reflecting a growth of 6.69% from RMB 3,177,602,000 in the previous year[27] - The company achieved a 48.1% year-on-year increase in mixed ore international transshipment, totaling 4.22 million tons[23] - The total assets of the company decreased by 2.63% to RMB 56,352,940,000 in 2023 from RMB 57,876,049,000 in 2022[27] - The debt ratio improved significantly, decreasing by 24.70% to 13.57% in 2023 from 18.02% in the previous year[27] - The company's total assets as of December 31, 2023, were RMB 56,352,939,728.84, with total liabilities of RMB 13,623,749,088.14, resulting in a debt-to-asset ratio of 24.2%, down from 27.6% in 2022[43] - The company reported a net cash inflow from operating activities of RMB 3,339,177,768.02 for 2023[44] - The company completed capital expenditures of RMB 629,863,806.64 in 2023, primarily funded by operational cash flow and external financing[64] - The company reported a credit impairment loss of 156.14 million RMB for receivables from Dalian Eneske International Trade Co., Ltd.[110] Legal and Compliance Issues - The total amount claimed by the import agents against the company’s subsidiary, Dalian Container Terminal Logistics Co., is RMB 1.06 billion[48] - The court ruled that Dalian Container Terminal Logistics Co. must pay RMB 109.69 million to Chengtong Company, with interest calculated from March 23, 2021[50] - Dalian Container Terminal Logistics Co. was ordered to pay RMB 10.26 million to Zhongda Metal Company, with interest from September 1, 2021[51] - The company was required to compensate Qingdao Kaitou Company RMB 299.38 million, with interest from March 27, 2021[52] - Dalian Container Terminal Logistics Co. was ordered to pay RMB 336.08 million to Rongjiang Company for cargo loss, with interest from April 7, 2021[54] - The company must compensate Qingdao Zhongyun Company RMB 169.25 million for cargo loss, with interest from April 9, 2021[55] - The company has faced multiple lawsuits related to logistics agreements and has been involved in various court proceedings[48][50][51][52][54][55] - The company has appealed several court decisions, indicating ongoing legal challenges[50][51][52][54][55] - The total amount of claims and judgments against the company reflects significant financial liabilities[48][50][51][52][54][55] - The company is actively engaged in legal negotiations and settlements with various parties involved in the disputes[48][50][51][52][54][55] Strategic Initiatives and Future Plans - The company plans to leverage national policies and optimize resource allocation to enhance its competitive position in the port industry in 2024[25] - The company aims to build a comprehensive service system focusing on "hub + channel + network" to improve core competitiveness[25] - The company aims to enhance its core competitiveness by focusing on market-oriented strategies and customer-centric services, with a goal to build a "world-class" strong port[132] - In 2024, the company plans to strengthen its oil products segment by leveraging the restructuring and capacity expansion of private refineries in Liaoning and Hebei, aiming to increase throughput[133] - The container segment will focus on expanding overseas routes, optimizing the Bohai Sea transshipment platform, and enhancing digital capabilities to support high-quality development[135] - The company intends to actively develop roll-on/roll-off transport services and restore international cruise and passenger transport operations[136] - The automotive segment will capitalize on the rapid growth of export vehicles by strengthening cooperation with shipping companies and expanding new trade routes[137] - The bulk cargo segment will deepen strategic customer cooperation and enhance the supply chain service brand for iron ore, aiming for qualification as a "national strategic reserve" for iron ore[138] Safety and Environmental Management - The company has implemented a safety production philosophy of "striving from zero to zero," ensuring stable safety production throughout the year[158] - The company has established a comprehensive safety inspection system with 80 safety and environmental regulations, continuously improving its safety management framework[160] - Conducted 34 special inspections and 273 routine inspections in 2023, identifying a total of 4,501 safety issues with a rectification rate of 98%[163] - Implemented a dual mechanism for safety risk assessment and hidden danger investigation, discovering 452 issues across 36 subsidiaries[162] - Developed a digital twin system for safety production management, with an investment of nearly 30 million yuan in lightning warning systems and emergency shut-off systems[176] - Completed safety training courses for frontline positions across 25 major production units, enhancing safety awareness and capabilities[166] - The company invested 1.26 million yuan in the construction of a dust suppression wall at the Dalian Port bulk cargo terminal, measuring 2,284 meters[183] - The company implemented a hazardous waste management program, participating in the establishment of standards for "waste-free ports" and promoting the use of standardized hazardous waste storage facilities[185] - The company strengthened emergency management by revising 12 emergency plans related to safety, environmental protection, and occupational health[189] Social Responsibility and Community Engagement - The company is committed to social responsibility, balancing economic benefits with obligations to customers, employees, society, and the environment[151] - The company is actively engaging in social responsibility initiatives, including volunteer services and donations to local schools and special education institutions[191] - The company aims to combine social responsibility with its development strategy, focusing on employee rights and customer value creation[192] Research and Development - Research and development expenses decreased by 26% to RMB 39,294,670.66, primarily due to a reduction in R&D projects[38] - The company employed 166 R&D personnel, making up 0.85% of the total workforce[105] - Research and development (R&D) expenses totaled 50.31 million RMB, representing 0.41% of operating revenue, with 21.90% of R&D expenses capitalized[105] Investment and Capital Management - The company has unused bank credit lines amounting to RMB 17.5 billion as of December 31, 2023[45] - The company has a significant investment project, Dayaowan Phase II, with a planned total investment of 378.30 million RMB, of which 233.32 million RMB has been invested[124] - The company has no significant investment or financing information to disclose as of the report date[193] Employee Management - The company has a total of 10,848 employees as of December 31, 2023, with a focus on developing employee potential and optimizing the compensation structure[143] - The company provided a total of 6.9 million yuan in慰问金 and慰问物资 to employees throughout the year[181] Environmental Impact - Energy consumption in the Dalian area totaled 93,907.24 tons of standard coal, with a consumption intensity of 3.64 tons per ten thousand tons of throughput, a year-on-year decrease of 13.63%[187] - Carbon dioxide emissions were 290,407.32 tons, with an emission intensity of 12.62 tons per ten thousand tons of throughput, a year-on-year decrease of 12.54%[187] - The company completed the construction of 5 sets of shore power facilities for passenger and cargo roll-on/roll-off ships, with a total of 1,718 shore power connections and 6,410.5 hours of power usage[187] - The company is committed to enhancing the electrification of mobile machinery and reducing carbon emissions at its terminals[190]

Financial Performance - The company's operating revenue for 2023 was RMB 12,219,878,814.79, representing a year-on-year increase of 0.43% compared to RMB 12,167,471,648.38 in 2022[21]. - The net profit attributable to shareholders of the listed company for 2023 was approximately CNY 1.34 billion, representing a year-on-year increase of 1.93%[23]. - The net profit attributable to shareholders after deducting non-recurring gains and losses was approximately CNY 1.30 billion, an increase of 5.76% compared to the previous year[23]. - The total assets at the end of 2023 were approximately CNY 56.35 billion, reflecting a decrease of 2.63% compared to the end of 2022[23]. - The weighted average return on net assets for 2023 was 3.40%, unchanged from the previous year[24]. - The basic earnings per share for 2023 was CNY 0.055993, an increase of 1.93% compared to 2022[24]. - The gross profit increased by RMB 212,493,473.83, a growth of 6.7%, with a gross margin of 27.7%, up by 1.6 percentage points[39]. - The total liabilities were RMB 13,623,749,088.14, with a debt-to-asset ratio of 24.2%, down from 27.6% in 2022[41]. - The capital expenditure for 2023 was RMB 629,863,806.64, primarily funded by operating cash flow and other external financing[43]. - The company reported a total revenue of approximately CNY 3.58 billion in Q4 2023, with a net profit of approximately CNY 269 million[26]. Dividend Distribution - The proposed cash dividend distribution for 2023 is RMB 0.191 per 10 shares, totaling RMB 458,152,957.09 to be distributed to all shareholders[5]. - The total number of shares for the dividend distribution is 23,987,065,816 shares[5]. - For the fiscal year 2023, the company plans to distribute a cash dividend of RMB 0.191 per 10 shares, totaling RMB 458,152,957.09, which represents 34.11% of the net profit attributable to ordinary shareholders[145]. Audit and Compliance - The company has received a standard unqualified audit report from Ernst & Young Hua Ming[4]. - The financial report is signed and sealed by the company's responsible persons and accounting heads, ensuring its authenticity[10]. - The company has not reported any non-standard audit opinions for the fiscal year 2023[182]. - The company has not faced any delisting risk or bankruptcy reorganization issues during the reporting period[185]. - The company has not disclosed any violations regarding guarantees during the reporting period[181]. Operational Highlights - The company's container throughput increased significantly, with a 48.1% year-on-year growth in mixed ore international transshipment, totaling 4.22 million tons[32]. - The roll-on/roll-off terminal handled 632,000 vehicles in 2023, achieving a historical record and increasing market share to 48.4%[32]. - The company reported a 16.1% year-on-year increase in empty container transportation, reflecting improved operational efficiency[32]. - The company successfully launched the Mediterranean East-West Line (DRAGON) and the Mediterranean India-Malaysia Line (DOLPHIN), expanding its international shipping network[30]. - The company’s oil terminal received its 1,000th Very Large Crude Carrier (VLCC) since its establishment in 2004, marking a significant operational milestone[30]. Market and Economic Outlook - The GDP of China reached RMB 126.06 trillion in 2023, growing by 5.2% compared to the previous year, indicating a resilient domestic economy[31]. - The company plans to leverage national policies and optimize resource allocation to navigate the challenging economic landscape in 2024[34]. - The company aims to enhance its core competitiveness by focusing on market-driven strategies and customer-centric services[34]. - The IMF has raised its forecast for China's economic growth in 2024 to 4.6%, indicating a positive outlook for the domestic economy[98]. Environmental and Social Responsibility - The company achieved zero environmental penalties during the reporting period, with all key pollutant discharge units completing their discharge permit reports on time[151]. - The company has implemented pollution control facilities that meet national and local discharge standards, ensuring stable and compliant emissions[162]. - The company has committed to continuous improvement in environmental management and pollution control, with specific action plans for dust, wastewater, and oil recovery[168]. - The company has established emergency response plans for environmental incidents, ensuring timely control and mitigation of major accidents[165]. Legal Matters - The company has ongoing significant litigation matters involving the company's subsidiary, Dalian Container Terminal Logistics Co., Ltd., related to a series of storage cases from March 2021 to March 2024[186]. - The company has ongoing legal disputes with Dalian Container Terminal Logistics Co., with claims for compensation of 336.08 million yuan and 299.38 million yuan for different contracts[190]. - The company continues to engage in legal proceedings to resolve disputes and ensure compliance with court rulings[188]. Management and Governance - The company has established specialized committees, including the Audit Committee and Financial Management Committee[129]. - The company held eight board meetings in the year, with six conducted in person and two via communication methods[127]. - The management team has undergone changes, with several key positions filled to strengthen leadership and strategic direction[123]. - The total compensation for directors and senior management amounted to 10.028 million CNY, reflecting the company's commitment to attracting top talent[121].

Financial Performance - The total operating revenue for the year ended December 31, 2023, was RMB 12,219,878,814.79, a slight increase from RMB 12,167,471,648.38 in 2022, representing a growth of approximately 0.43%[8] - The net profit for the year ended December 31, 2023, was RMB 1,507,251,191.09, compared to RMB 1,472,619,134.96 in 2022, indicating an increase of about 2.36%[8] - Total comprehensive income for the year ended December 31, 2023, was approximately RMB 1.52 billion, up from RMB 1.49 billion in 2022, representing a growth of about 2.1%[9] - The net profit attributable to shareholders for the year ended December 31, 2023, was RMB 1.36 billion, compared to RMB 1.33 billion in 2022, indicating an increase of approximately 1.4%[9] - Basic earnings per share (EPS) for the year ended December 31, 2023, was 0.06, compared to 0.05 for the year ended December 31, 2022, reflecting a 20% increase[9] - The total profit for the 12 months ended December 31, 2023, was $2,034,992,700.03, compared to $1,939,787,052.98 in 2022, reflecting a growth of 4.9%[52] - The proposed year-end dividend for 2023 is RMB 1.91 per share, an increase from RMB 1.74 per share in 2022, representing a growth of 9.8%[54] Assets and Liabilities - The total assets as of December 31, 2023, amounted to RMB 56,352,939,728.84, a decrease from RMB 57,876,049,433.75 in 2022, reflecting a decline of approximately 2.63%[7] - The total liabilities as of December 31, 2023, were RMB 13,623,749,088.14, down from RMB 15,973,664,511.56 in 2022, showing a reduction of about 14.74%[7] - The company’s total equity as of December 31, 2023, was RMB 42,729,190,640.70, an increase from RMB 41,902,384,922.19 in 2022, representing a growth of approximately 1.97%[7] - The debt-to-asset ratio improved to 24.2%, down 3.4 percentage points from 27.6% in the previous year, mainly due to the repayment of maturing bonds[65] - The net debt-to-equity ratio improved to 13.5% from 18.1% in the previous year, indicating a reduction in debt levels[66] Cash Flow and Financial Management - The company's cash and cash equivalents as of December 31, 2023, were RMB 5,228,415,449.28, slightly down from RMB 5,285,807,017.68 in 2022, a decrease of approximately 1.08%[4] - The company reported a decrease in financial expenses, totaling RMB 432,164,611.61 for 2023, compared to RMB 465,639,190.54 in 2022, a decline of approximately 7.16%[8] - The total income tax expense for the 12 months ended December 31, 2023, was $527,741,508.94, an increase of 12.9% from $467,167,918.02 in 2022[52] Research and Development - Research and development expenses for the year were RMB 39,294,670.66, down from RMB 53,126,381.44 in 2022, indicating a reduction of about 26.00%[8] - The group’s subsidiaries can deduct 100% of R&D expenses from taxable income, effective from January 1, 2023[22] Mergers and Acquisitions - The company completed the merger with Yingkou Port Group, increasing total shares from 12.89 billion to 22.62 billion shares, with Yingkou Port Group holding 30.57% post-merger[11] - The company acquired 79.03% of Dalian Port Logistics Network Co., Ltd. for a cash consideration of 63.716 million yuan, with the merger date set for November 3, 2023[15] - The company also acquired 100% of Yingkou Port Xinke Technology Co., Ltd. for a cash consideration of 19.3115 million yuan, with the merger date set for October 27, 2023[15] Legal and Regulatory Matters - The terminal logistics company has faced multiple appeals and re-trials regarding various compensation cases, indicating ongoing legal challenges[70][71][72] - The company has been ordered to pay a total of approximately RMB 1.1 billion across various legal cases, highlighting potential impacts on its financial stability[69][70][71][72] Operational Performance - The company achieved a total income from port operations of $8,802,258,538.88, highlighting its strong position in the logistics sector[46] - Revenue from logistics services was $765,767,562.24, contributing significantly to the overall income[46] - The company plans to continue focusing on market expansion and new product development to drive future growth[3] - The company plans to enhance its core competitiveness by focusing on quality improvement and efficiency, emphasizing innovation and collaboration to expand service capabilities[98] Market Outlook - The IMF has adjusted its forecast for China's economic growth in 2024 to 4.6%, indicating a positive outlook for the company's business environment[101] - The company anticipates facing increased uncertainties in the global economic landscape and intensified competition among ports in the Bohai Rim region[102] - The strategic focus for 2024 includes enhancing market orientation, customer-centric services, and building a comprehensive service system to strengthen port competitiveness[103]

Financial Performance - The company's operating revenue for Q3 2023 was CNY 2,989,212,136.56, representing a year-on-year increase of 4.43%[3] - The net profit attributable to shareholders for Q3 2023 was CNY 442,584,209.17, an increase of 15.77% compared to the same period last year[3] - The net profit attributable to shareholders after deducting non-recurring gains and losses was CNY 433,504,699.23, up by 14.08% year-on-year[3] - Total operating revenue for the first three quarters of 2023 was CNY 8,641,204,723.08, slightly down from CNY 8,651,046,671.66 in the same period of 2022, representing a decrease of approximately 0.1%[20] - Operating profit for the first three quarters of 2023 was CNY 1,654,978,370.54, an increase from CNY 1,590,690,803.55 in the previous year, indicating a growth of approximately 4.0%[21] - The total profit for Q3 2023 was approximately ¥1.66 billion, a slight increase from ¥1.62 billion in Q3 2022, representing a growth of about 2.1%[23] - Net profit attributable to shareholders of the parent company was approximately ¥1.07 billion, down from ¥1.12 billion in the same period last year, indicating a decrease of about 4.5%[24] - The total comprehensive income for Q3 2023 was approximately ¥1.25 billion, compared to ¥1.25 billion in Q3 2022, showing a marginal increase of 0.03%[24] - Basic and diluted earnings per share for Q3 2023 were both ¥0.04, down from ¥0.05 in Q3 2022, reflecting a decrease of 20%[24] Cash Flow and Assets - The net cash flow from operating activities for Q3 2023 was CNY 777,976,359.14, a decrease of 10.39% compared to the same period last year[4] - The total current assets as of September 30, 2023, amounted to 9,539,413,851.36 RMB, compared to 9,482,788,978.89 RMB at the end of 2022[17] - The cash and cash equivalents decreased to 4,348,930,009.45 RMB from 5,085,194,083.26 RMB year-over-year[17] - The accounts receivable increased to 3,529,226,405.79 RMB from 2,892,038,334.72 RMB year-over-year[17] - Cash flow from operating activities for the first three quarters of 2023 was approximately ¥8.05 billion, a decrease from ¥8.34 billion in the same period last year, representing a decline of about 3.4%[25] - The net cash flow from operating activities in Q3 2023 was approximately ¥2.05 billion, down from ¥2.22 billion in Q3 2022, indicating a decrease of about 7.6%[26] - Cash and cash equivalents at the end of Q3 2023 were approximately ¥4.32 billion, down from ¥4.63 billion at the end of Q3 2022, reflecting a decrease of about 6.6%[27] Liabilities and Equity - The total assets at the end of Q3 2023 were CNY 56,181,115,088.51, down by 2.48% from the end of the previous year[4] - The equity attributable to shareholders at the end of Q3 2023 was CNY 39,372,320,626.04, an increase of 1.88% compared to the end of the previous year[4] - Current liabilities decreased significantly to CNY 4,919,788,406.26 from CNY 6,477,798,286.20, a reduction of about 24.1%[19] - Long-term borrowings decreased to CNY 641,000,000.00 from CNY 716,000,000.00, a decrease of approximately 10.5%[19] - The company’s total liabilities decreased to CNY 13,571,205,631.20 from CNY 15,867,399,977.62, a decline of approximately 14.4%[19] Operational Metrics - The company reported a container throughput of 255.5 million TEU in Q3 2023, an increase of 8.3% year-over-year from 236.0 million TEU in Q3 2022[14] - Oil products throughput reached 1,199.5 million tons in Q3 2023, reflecting an 18.8% increase compared to 1,010.0 million tons in Q3 2022[14] - The company experienced a 12.8% increase in bulk cargo throughput, totaling 4,720.9 million tons in Q3 2023, up from 4,184.2 million tons in Q3 2022[14] - The passenger roll-on/roll-off vehicle throughput increased by 140.5% year-over-year, reaching 137.8 million passengers in Q3 2023[14] Expenses and Investments - Research and development expenses decreased by 88.54% year-to-date due to the completion of major projects[8] - Sales expenses increased by 100.00% year-to-date, primarily due to business promotion activities conducted this year[8] - Investment income decreased by 59.54% year-to-date, mainly due to the decline in performance of joint ventures in various sectors[8] - The net cash flow from investing activities was negative at approximately -¥67.97 million in Q3 2023, compared to -¥2.73 billion in Q3 2022, showing an improvement in cash outflow[26] - The company received approximately ¥2.50 billion in cash from borrowings in Q3 2023, down from ¥4.42 billion in the same period last year, indicating a decrease of about 43.5%[26] Strategic Focus - The company aims to expand its direct shipping routes and increase port capacity to boost domestic trade growth[14] - The company is focusing on new product development and market expansion strategies to enhance overall performance[15]

Financial Performance - Operating revenue for Q3 2023 reached CNY 2,989,212,136.56, an increase of 4.43% compared to the same period last year[4] - Net profit attributable to shareholders was CNY 442,584,209.17, reflecting a growth of 15.77% year-on-year[4] - Net profit excluding non-recurring gains and losses was CNY 433,504,699.23, up by 14.08% compared to the previous year[4] - Basic and diluted earnings per share were both CNY 0.018451, representing a year-on-year increase of 15.77%[4] - Total operating revenue for the first three quarters of 2023 was CNY 8,641,204,723.08, slightly down from CNY 8,651,046,671.66 in the same period of 2022, representing a decrease of approximately 0.1%[15] - Net profit for the first three quarters of 2023 was CNY 1,233,219,238.12, compared to CNY 1,238,109,110.59 in 2022, indicating a slight decrease of around 0.4%[21] - The total comprehensive income for the first three quarters of 2023 was CNY 1,250,677,064.78, slightly up from CNY 1,245,775,500.42 in 2022[22] Cash Flow - Cash flow from operating activities amounted to CNY 777,976,359.14, a decrease of 10.39% year-on-year[4] - Cash flow from operating activities totaled CNY 8,054,976,877.73 in 2023, down from CNY 8,336,388,242.36 in 2022, reflecting a decrease of approximately 3.4%[25] - The cash outflow from investing activities in the first three quarters of 2023 was approximately $238.91 million, significantly lower than $2.89 billion in the same period of 2022, resulting in a net cash flow from investing activities of -$67.97 million[26] - The cash inflow from financing activities was approximately $2.50 billion in the first three quarters of 2023, down from $4.42 billion in the same period of 2022[27] - The cash outflow from financing activities increased to approximately $5.21 billion in the first three quarters of 2023, compared to $3.73 billion in the same period of 2022[27] - The net cash flow from financing activities was -$2.71 billion in the first three quarters of 2023, contrasting with a positive cash flow of $696.13 million in the same period of 2022[27] - The total cash and cash equivalents at the end of the third quarter of 2023 were approximately $4.32 billion, a decrease from $4.63 billion at the end of the same period in 2022[27] Assets and Liabilities - Total assets at the end of the reporting period were CNY 56,181,115,088.51, a decrease of 2.48% from the previous year-end[4] - The company's total liabilities decreased to CNY 13,571,205,631.20 from CNY 15,867,399,977.62, reflecting a reduction of about 14.4%[17] - The total assets as of September 30, 2023, were CNY 56,181,115,088.51, down from CNY 57,609,391,070.26, representing a decline of approximately 2.5%[18] - The company's cash and cash equivalents decreased to CNY 4,348,930,009.45 from CNY 5,085,194,083.26, a decline of about 14.5%[14] - The company's non-current liabilities decreased to CNY 8,651,417,224.94 from CNY 9,389,601,691.42, indicating a reduction of about 7.9%[17] Expenses - R&D expenses decreased by 88.54% due to the completion of major projects from the previous year[7] - Sales expenses increased by 100.00% as a result of new business promotion activities this year[7] - Investment income fell by 59.54% primarily due to the decline in performance of joint ventures in LNG, miscellaneous goods, grain, and cold chain businesses[7] - Credit impairment losses surged by 226.51% due to longer aging of receivables and the impact of recovering long-term debts from miscellaneous goods customers last year[7] - Other income decreased to CNY 78,471,451.97 in 2023 from CNY 110,621,989.33 in 2022, a decline of about 29%[21] - The company’s tax expenses increased to CNY 429,744,829.01 in 2023 from CNY 383,302,791.23 in 2022, an increase of about 12.1%[21] - The company paid approximately $2.04 billion in employee compensation in the first three quarters of 2023, down from $2.22 billion in the same period of 2022[26] - Tax payments increased to approximately $746.40 million in the first three quarters of 2023, compared to $638.20 million in the same period of 2022[26] Operational Highlights - Container throughput in Q3 2023 reached 255.5 million TEU, an increase of 8.3% year-on-year[11] - The total throughput of oil products in Q3 2023 was 1,199.5 million tons, up 18.8% compared to the same period last year[11] - The number of passenger vehicles transported increased by 15.8% in Q3 2023, reflecting growth in domestic trade business[11] - The company's crude oil throughput increased due to rising demand from inland customers and increased refined oil exports driven by national policy adjustments[12] - The company has launched new export brand vehicles and expanded international transshipment business, contributing to increased foreign trade vehicle throughput[12] Accounting and Reporting Changes - The company is adapting to new accounting standards starting in 2023, which may impact future financial reporting[28]

Financial Performance - In the first half of 2023, the company's net profit attributable to shareholders was RMB 631,260,174.66, a decrease of 14.9% compared to RMB 741,962,637.45 in the same period of 2022[6]. - The company's operating revenue for the first half of 2023 was RMB 5,651,992,586.52, down 2.4% from RMB 5,788,566,152.86 in the previous year[7]. - The gross profit increased by 6.0% to RMB 1,637,711,168.71, with a gross margin of 29.0%, up 2.3 percentage points year-on-year[8]. - The investment income decreased by 72.1% to RMB 28,276,809.05, mainly due to the poor performance of joint ventures in liquefied natural gas and cold chain businesses[10]. - The company reported a significant decrease in accounts payable, which fell to CNY 244,165,199.44 from CNY 303,332,013.22, a drop of 19.5%[84]. - The company reported a total of RMB 742.32 million in comprehensive income for the first half of 2023, indicating a recovery trend[115]. Operational Metrics - Container throughput at national ports reached 14,919 million TEU in the first half of 2023, an increase of 4.8% year-on-year[3]. - In the first half of 2023, the total throughput of oil products reached 2,621.6 million tons, an increase of 4.3% compared to the same period in 2022[24]. - Crude oil throughput was 1,705.9 million tons, up 8.8% year-on-year, driven by steady recovery in domestic production demand[25]. - The throughput of refined oil was 727.1 million tons, reflecting a 4.9% increase year-on-year due to increased export quotas[25]. - The automotive sector saw production and sales of 13.25 million vehicles, with year-on-year growth of 9.3% and 9.8% respectively[3]. Cost and Expenses - The company experienced a significant increase in credit impairment losses, which rose by 212.3% to RMB 80,956,939.47, primarily due to aging receivables[10]. - The company's operating costs decreased by 5.4% to RMB 4,014,281,417.81, attributed to a reduction in container logistics service costs[8]. - The company’s research and development expenses dropped by 84.2% to RMB 276,882.29, reflecting the completion of major projects[10]. - The company’s management expenses increased by 4.5% to RMB 369,331,125.50, driven by higher administrative costs[10]. Assets and Liabilities - As of June 30, 2023, the total assets of the group amounted to RMB 57,655,679,528.21, with net assets of RMB 42,087,238,899.77, resulting in a net asset per share of RMB 1.62, a slight increase from RMB 1.61 as of December 31, 2022[11]. - The total liabilities as of June 30, 2023, were RMB 15,568,440,628.44, with outstanding borrowings totaling RMB 7,347,480,978.32, all at fixed interest rates. The debt-to-asset ratio decreased to 27.0% from 27.5% as of December 31, 2022[11]. - The cash and cash equivalents balance as of June 30, 2023, was RMB 5,644,957,427.20, an increase of RMB 599,483,928.97 compared to December 31, 2022[13]. - The net debt-to-equity ratio as of June 30, 2023, was 16.5%, down from 18.6% as of December 31, 2022, indicating a reduction in debt size due to bond repayments[13]. Legal and Compliance - The total claims from other storage agents against the group amounted to RMB 1.06 billion due to unresolved litigation involving its subsidiary, Dalian Container Terminal Logistics Co., Ltd.[15]. - The group is currently involved in multiple legal disputes, including a judgment requiring it to pay RMB 10,969.46 million to a trading company, with ongoing appeals and further legal proceedings[16][17]. - The company has recognized a provision for contingent liabilities amounting to RMB 164 million related to ongoing litigation cases[21]. Shareholder Information - The board does not recommend the payment of an interim dividend for the six months ended June 30, 2023[57]. - The company has a total share capital of 23,987,065,816 shares, with A shares accounting for 78.49% and H shares for 21.51%[65]. - Major shareholders include Yingkou Port Group holding 36.73% of A shares and Dalian Port Group holding 28.20% of A shares[67]. Strategic Initiatives - The company plans to deepen market development in the oil products segment, focusing on crude oil transfer markets in Hebei and northern Shandong[52]. - The company aims to strengthen its container shipping routes, particularly in the RCEP region, and enhance its transshipment capabilities in the Bohai Sea area[53]. Financial Management - The company has utilized all raised funds for the repayment of the principal and interest of the "22 Liaoning Port 01" bond, consistent with previously disclosed purposes[64]. - The company has implemented a training plan focusing on safety production, compliance management, and risk management to support high-quality development[74]. - The company has committed to environmental protection and the construction of a resource-saving, environmentally friendly port[75]. Accounting Policies - The financial statements are prepared in accordance with the accounting standards issued by the Ministry of Finance, reflecting the financial position as of June 30, 2023[130]. - The company follows the accrual basis of accounting, with historical cost as the primary measurement basis for assets and liabilities[133]. - The company ensures that its financial statements provide a true and complete reflection of its financial results and cash flows for the reporting period[130].

Financial Performance - The company's operating revenue for the first half of 2023 was CNY 5,651,992,586.52, a decrease of 2.36% compared to CNY 5,788,566,152.86 in the same period last year[19]. - The net profit attributable to shareholders of the listed company was CNY 631,260,174.66, down 14.92% from CNY 741,962,637.45 in the previous year[19]. - The net cash flow from operating activities was CNY 1,272,499,407.36, a decrease of 5.90% compared to CNY 1,352,265,742.31 in the same period last year[19]. - Basic earnings per share for the first half of 2023 were CNY 0.026317, down 14.92% from CNY 0.030932 in the same period last year[20]. - The weighted average return on net assets was 1.62%, a decrease of 0.32 percentage points compared to 1.94% in the previous year[20]. - The company reported a decrease of 12.08% in net profit after deducting non-recurring gains and losses, with a figure of CNY 613,953,983.78 compared to CNY 698,298,382.91 last year[19]. - The company reported a net profit for the first half of 2023 of CNY 725,197,954.34, a decline of 10.65% from CNY 811,725,425.70 in the previous year[157]. Assets and Liabilities - The total assets at the end of the reporting period were CNY 57,655,679,528.21, an increase of 0.08% from CNY 57,609,391,070.26 at the end of the previous year[19]. - The net assets attributable to shareholders of the listed company were CNY 38,910,784,222.16, an increase of 0.68% compared to CNY 38,646,458,765.43 at the end of the previous year[19]. - As of June 30, 2023, the company's total assets were RMB 57,655,679,528.21, and net assets were RMB 42,087,238,899.77, with a debt-to-asset ratio of 27.0%, down from 27.5% at the end of 2022[34]. - The current ratio at the end of the reporting period was 1.53, up from 1.46 at the end of the previous year, reflecting a 4.79% increase[148]. - The debt-to-asset ratio decreased to 27.00% from 27.54%, a reduction of 0.54 percentage points, primarily due to the repayment of maturing bonds during the year[148]. - Total liabilities decreased to CNY 15,568,440,628.44 from CNY 15,867,399,977.62, a decline of about 1.89%[151]. Revenue Segments - Gross profit increased by 6.0% to RMB 1,637,711,168.71, with a gross margin of 29.0%, up 2.3 percentage points from 26.7%[31]. - The company’s oil products segment reported a revenue of RMB 801,659,094.42, a year-on-year increase of 2.6%, with a gross profit margin of 35.5%, up by 5.7 percentage points[39]. - The bulk cargo segment's operating revenue decreased by 9.9% to RMB 2,021,091,551.57, down from RMB 2,241,974,115.74 in the first half of 2022[50]. - The total cargo throughput at major ports in the first half of 2023 was 8.19 billion tons, an increase of 8% year-on-year[26]. - Container throughput for the first half of 2023 reached 14,919,000 TEU, representing a year-on-year growth of 4.8%[28]. Research and Development - The company’s R&D expenses decreased significantly by 84.2% to RMB 276,882.29 from RMB 1,752,528.33 in the previous year[31]. - Research and development expenses decreased to CNY 276,882.29, down 84.16% from CNY 1,752,528.33 in the previous year[156]. Environmental Compliance - The company has maintained stable and compliant pollutant discharge through regular maintenance of pollution control facilities[97]. - The company has implemented third-party monitoring for pollutant discharge, ensuring compliance with national and local standards[87]. - The total wastewater discharge for the Dalian Port Oil Terminal Company was 50,237 tons, with chemical oxygen demand at 2.5 and ammonia nitrogen at 0.4[85]. - The Dalian Port Bulk Cargo Terminal Company treated all wastewater through its own facility, achieving full reuse[86]. - The company has not experienced any major environmental violations or penalties during the reporting period[84]. Strategic Plans and Market Development - The company aims to enhance service levels and integrate logistics with finance and trade, focusing on product innovation and service expansion[24]. - The overall logistics demand growth is slowing down due to complex external trade conditions and economic structural adjustments[25]. - The company plans to deepen market development in various sectors, including oil products and container services, to enhance throughput and market share in the second half of 2023[62]. - The company plans to continue expanding its market presence and enhancing operational efficiency through new strategies and technology advancements[43]. Legal and Compliance Issues - The company is facing risks due to international trade protectionism and rising labor costs, impacting port throughput growth[76]. - The company has undergone significant changes in its board and management, with multiple elections and appointments[81]. - The company has not reported any violations regarding guarantees or non-standard audit opinions in the current reporting period[116][117]. - The company has not disclosed any significant litigation or arbitration matters beyond those already reported[118]. Shareholder Information - The total number of ordinary shareholders as of the end of the reporting period is 255,285[135]. - The largest shareholder, Yingkou Port Group Co., Ltd., holds 6,916,185,012 shares, representing 28.83% of the total shares[136]. - Dalian Port Group Co., Ltd. is the second-largest shareholder with 5,310,255,162 shares, accounting for 22.14%[137]. - The company has not reported any changes in share capital structure during the reporting period[135]. Financial Instruments and Accounting Practices - The financial statements are prepared based on the going concern principle, adhering to the accounting standards set by the Ministry of Finance[185]. - The company applies specific methods for translating foreign financial statements into RMB, ensuring that all assets and liabilities are converted at the current exchange rate[197]. - Financial instruments are recognized at fair value upon initial recognition, with subsequent measurement based on their classification as either amortized cost or fair value[198].

Financial Performance - The company's operating revenue for the six months ended June 30, 2023, was RMB 5,651,992,586.52, a decrease of 2.36% compared to RMB 5,788,566,152.86 for the same period in 2022[9]. - The company's net profit for the six months ended June 30, 2023, was RMB 975,608,468.93, down from RMB 1,036,150,031.31 in the same period of 2022[9]. - Total profit for the six months ended June 30, 2023, was RMB 982.14 million, a decrease from RMB 1,072.26 million for the same period in 2022, representing a decline of approximately 8.4%[10]. - Net profit for the same period was RMB 725.20 million, down from RMB 811.73 million in 2022, reflecting a decrease of about 10.6%[10]. - Net profit attributable to shareholders of the parent company was RMB 631.26 million, compared to RMB 741.96 million in the previous year, indicating a decline of approximately 14.9%[10]. - Total comprehensive income for the six months ended June 30, 2023, was RMB 738.79 million, down from RMB 811.92 million in 2022, a decrease of about 9.0%[11]. - Total comprehensive income attributable to shareholders of the parent company was RMB 645.24 million, compared to RMB 742.32 million in the previous year, reflecting a decline of approximately 13.1%[11]. Assets and Liabilities - The total assets as of June 30, 2023, amounted to RMB 57,655,679,528.21, slightly up from RMB 57,609,391,070.26 as of December 31, 2022[8]. - The total current assets increased to RMB 10,524,597,127.58 from RMB 9,482,788,978.89, reflecting a growth of approximately 11%[5]. - The total liabilities decreased to RMB 15,568,440,628.44 from RMB 15,867,399,977.62, indicating a reduction of approximately 1.88%[7]. - The equity attributable to shareholders of the parent company rose to RMB 38,910,784,222.16 from RMB 38,646,458,765.43, an increase of approximately 0.69%[8]. Cash Flow and Investments - The company's cash and cash equivalents increased to RMB 5,669,758,736.30 from RMB 5,085,194,083.26, representing a growth of about 11.5%[5]. - The company reported a credit impairment loss of RMB -80,956,939.47, compared to RMB -25,925,791.04 in the previous year, indicating a deterioration in credit quality[9]. - The company’s investment income for the period was RMB 28,276,809.05, down from RMB 101,502,060.52 in the same period of 2022[9]. Revenue Segments - The main business income from container terminal and related logistics was RMB 1,815,883,605.91 for the first half of 2023, while the bulk cargo terminal and related logistics generated RMB 2,021,091,551.57[54]. - The company has recognized port operation business income of RMB 4,235,978,594.10 during the first half of 2023, contributing significantly to overall revenue[55]. - The logistics service revenue accounted for approximately $389.72 million, while port operation business revenue was about $4.31 billion[57]. Expenses and Costs - Operating costs for the same period were RMB 4,014,281,417.81, down from RMB 4,243,209,288.28 in 2022, indicating a reduction of about 5.40%[53]. - Management expenses for the first half of 2023 totaled approximately $369.33 million, up from $353.30 million in the same period of 2022, reflecting a year-over-year increase of about 4.5%[59]. - Financial expenses for the first half of 2023 were approximately $231.08 million, slightly higher than $228.12 million in the same period of 2022[60]. Taxation and Provisions - The corporate income tax rate applicable to certain subsidiaries is reduced to 15% due to their qualification as high-tech enterprises[19]. - The group’s tax liabilities include a 25% corporate income tax rate for most subsidiaries, with certain exemptions applicable[19]. - The provision for bad debts increased to RMB 502,981,657.51 as of June 30, 2023, up from RMB 454,106,135.43 at the end of 2022, reflecting a rise of about 10.7%[24]. Operational Highlights - The company continues to focus on port operations and logistics services, with a strategic emphasis on integration and expansion in the Northeast Asia region[12]. - The merger with Yingkou Port has been completed, increasing the total share capital from 12.89 billion shares to 22.62 billion shares, enhancing the company's market position[13]. - The company plans to continue focusing on expanding its logistics services and enhancing operational efficiency to improve future performance[47]. Future Outlook - The company anticipates growth in logistics demand driven by the national strategy for high-quality development and new infrastructure initiatives in the second half of 2023[112]. - The company plans to deepen its crude oil transshipment market in Hebei and Shandong, expanding its logistics system for imported crude oil[113]. - The company aims to enhance its container shipping routes, focusing on traditional routes to Japan and South Korea, and exploring new direct shipping lines in Southeast Asia[114].

Financial Performance - The company's operating revenue for Q1 2023 was CNY 2,861,049,291.25, representing a decrease of 0.82% compared to the same period last year[4] - The net profit attributable to shareholders was CNY 391,740,122.19, down 18.69% year-on-year[4] - The net profit after deducting non-recurring gains and losses was CNY 385,766,126.39, a decrease of 14.58% compared to the previous year[4] - The basic earnings per share were CNY 0.016331, reflecting an 18.69% decline year-on-year[5] - Net profit for Q1 2023 was ¥433,373,673.52, a decrease of 15.1% from ¥510,659,651.64 in Q1 2022[21] - Earnings per share attributable to shareholders of the parent company for Q1 2023 was ¥391,740,122.19, compared to ¥481,807,363.95 in Q1 2022[21] - In Q1 2023, the total comprehensive income attributable to the parent company was CNY 388,248,017.66, a decrease of 19.3% from CNY 481,220,973.30 in Q1 2022[22] - The company reported a basic and diluted earnings per share of CNY 0.02, unchanged from the previous year[22] Cash Flow and Liquidity - The net cash flow from operating activities increased by 121.07% to CNY 342,032,737.06[4] - The net cash flow from operating activities was CNY 342,032,737.06, significantly up from CNY 154,718,143.98 in the same period last year, representing a 121.5% increase[24] - Cash received from sales of goods and services amounted to CNY 2,346,525,462.24, an increase of 8.0% compared to CNY 2,172,724,296.07 in Q1 2022[23] - The total cash inflow from operating activities was CNY 2,477,695,678.00, up from CNY 2,210,370,997.05, marking a 12.1% increase year-over-year[24] - The cash and cash equivalents at the end of the period stood at CNY 5,142,866,933.33, an increase from CNY 4,494,802,849.13 at the end of Q1 2022[25] - The company’s cash flow from operating activities outpaced cash outflows, resulting in a net increase of CNY 97,393,435.10 in cash and cash equivalents during the quarter[24] Assets and Liabilities - Total assets at the end of the reporting period were CNY 57,583,327,793.86, a slight decrease of 0.05% from the end of the previous year[5] - Total assets as of the end of Q1 2023 were ¥57,583,327,793.86, slightly down from ¥57,609,391,070.26 at the end of Q1 2022[19] - Total liabilities for Q1 2023 amounted to ¥15,388,293,758.37, a decrease from ¥15,867,399,977.62 in Q1 2022[19] - The total equity attributable to shareholders of the parent company was ¥39,055,980,378.40, up from ¥38,646,458,765.43 in Q1 2022, indicating growth in shareholder equity[19] Shareholder Information - The number of ordinary shareholders at the end of the reporting period was 258,477[10] - The top three shareholders held a combined 72.32% of the shares, with the largest shareholder owning 28.83%[10] Operational Metrics - In Q1 2023, the company handled 230.3 million TEUs of containers, an increase of 18.4% compared to 194.5 million TEUs in the same period last year[13] - The throughput of oil products reached 1,262.8 million tons, up 4.0% from 1,214.1 million tons year-on-year, driven by increased domestic economic recovery and higher crude oil demand[14] - The company reported a decrease in bulk cargo throughput by 10.5%, from 4,960.8 million tons to 4,442.3 million tons, due to weak downstream demand[14] - The number of passenger roll-on/roll-off vehicles increased significantly by 131.5%, reaching 69.0 million passengers compared to 29.8 million in the previous year[13] - The company has expanded its shipping routes and services, contributing to the increase in container throughput[13] Research and Development - Research and development expenses decreased by 93.74% due to the completion of major projects[8] - Research and development expenses for Q1 2023 were ¥63,595.42, significantly lower than ¥1,016,414.18 in Q1 2022, indicating a reduction in R&D investment[21] Other Financial Metrics - The company's accounts receivable increased to approximately ¥3.33 billion from ¥2.89 billion year-on-year[17] - The company’s inventory as of March 31, 2023, was approximately ¥124.88 million, a slight increase from ¥123.91 million year-on-year[17] - The company's long-term equity investments stood at approximately ¥3.76 billion, slightly down from ¥3.77 billion at the end of 2022[17] - The company reported a financial expense of ¥114,986,643.56 in Q1 2023, compared to ¥110,350,868.59 in Q1 2022, showing a slight increase in financial costs[21] - The total current assets as of March 31, 2023, amounted to approximately ¥9.98 billion, an increase from ¥9.48 billion at the end of 2022[17] Cost Management - Total operating costs for Q1 2023 were ¥2,319,115,540.84, down from ¥2,327,690,880.81 in Q1 2022, reflecting a slight cost reduction[20] - The total cash outflow from financing activities was CNY 130,491,391.68, compared to CNY 38,726,980.43 in Q1 2022, indicating a significant increase in cash outflows[24] - The company received CNY 9,504,855.20 in tax refunds, a substantial increase from CNY 368,165.36 in the same quarter last year[23]