Revenue and Profit - Total revenue for Q1 2022 was RMB 1,648,067,484.18, representing a year-on-year increase of 0.26%[2] - Net profit attributable to shareholders was RMB 335,837,013.59, reflecting a year-on-year increase of 2.67%[2] - Total operating revenue for Q1 2022 was RMB 1,648,067,484.18, slightly up from RMB 1,643,864,183.15 in Q1 2021, indicating a growth of approximately 0.07%[15] - The total profit for Q1 2022 was CNY 433,652,351.76, up from CNY 409,875,033.56 in Q1 2021, indicating a growth of about 5.8%[16] - The net profit attributable to shareholders of the parent company for Q1 2022 was CNY 335,837,013.59, compared to CNY 327,108,175.12 in Q1 2021, reflecting an increase of approximately 2.2%[17] - Net profit for Q1 2022 was CNY 309,198,113.40, a decrease of 9.6% compared to CNY 342,062,627.56 in Q1 2021[24] Cash Flow - Net cash flow from operating activities decreased by 4.69% to RMB 604,743,449.17[2] - The net cash flow generated from operating activities in Q1 2022 was CNY 604,743,449.17, compared to CNY 634,473,707.78 in Q1 2021, showing a decrease of approximately 4.3%[18] - Cash flow from operating activities in Q1 2022 was CNY 335,877,060.88, down 18.3% from CNY 411,289,019.00 in Q1 2021[25] - The cash inflow from operating activities totaled CNY 1,615,115,006.82 in Q1 2022, compared to CNY 1,606,518,554.00 in Q1 2021, indicating a slight increase of about 0.5%[18] Assets and Liabilities - Total assets at the end of the reporting period were RMB 27,944,989,506.08, a 0.60% increase from the end of the previous year[3] - Total liabilities were RMB 10,693,003,247.59 as of March 31, 2022, down from RMB 10,867,283,855.36 at the end of 2021, reflecting a decrease of approximately 1.6%[14] - Current assets totaled RMB 4,947,953,121.78 as of March 31, 2022, compared to RMB 4,567,598,692.11 at the end of 2021, representing an increase of about 8.34%[12] - Non-current assets amounted to RMB 22,997,036,384.30 as of March 31, 2022, down from RMB 23,209,379,192.67 at the end of 2021, indicating a decrease of approximately 0.91%[13] - Total assets reached RMB 27,944,989,506.08 as of March 31, 2022, compared to RMB 27,776,977,884.78 at the end of 2021, marking an increase of about 0.6%[14] - Total liabilities decreased to 2,375,870,422.58 RMB from 2,423,543,390.64 RMB year-over-year[22] Shareholder Information - The company reported a total of 64,318 common shareholders at the end of the reporting period[8] - The largest shareholder, Hebei Port Group Co., Ltd., holds 54.27% of the shares[10] - Shareholders' equity attributable to the parent company increased by 2.18% to RMB 16,405,352,408.94[3] - Shareholders' equity totaled RMB 17,251,986,258.49 as of March 31, 2022, compared to RMB 16,909,694,029.42 at the end of 2021, indicating an increase of about 2%[14] Expenses - Research and development expenses increased by 94.89% compared to the beginning of the reporting period[7] - Research and development expenses for Q1 2022 amounted to CNY 3,559,326.41, significantly higher than CNY 1,826,364.97 in Q1 2021, representing an increase of about 95.1%[16] - The company's management expenses for Q1 2022 were CNY 137,870,740.32, slightly down from CNY 145,994,589.42 in Q1 2021, a decrease of approximately 5.6%[16] - Operating costs specifically for the business increased to RMB 1,043,451,103.90 in Q1 2022 from RMB 991,257,512.60 in Q1 2021, showing an increase of approximately 5.3%[15] - Operating costs for Q1 2022 were CNY 610,540,656.13, an increase of 4.0% from CNY 586,706,839.16 in Q1 2021[23] Financial Performance - Basic and diluted earnings per share were both RMB 0.06, an increase from RMB 0.00 in the same period last year[3] - The basic earnings per share for Q1 2022 remained stable at CNY 0.06, consistent with Q1 2021[17] - The total comprehensive income for Q1 2022 was CNY 326,779,746.59, compared to CNY 296,421,232.96 in Q1 2021, reflecting an increase of about 10.3%[17] - The company reported a credit impairment loss of CNY -13,111,762.66 in Q1 2022, compared to CNY -4,256,504.36 in Q1 2021, indicating a significant increase in impairment losses[16] - The financial expenses for Q1 2022 were CNY 43,988,182.96, down from CNY 57,104,856.32 in Q1 2021, a decrease of approximately 22.9%[16] Cash and Equivalents - Cash and cash equivalents increased to RMB 4,470,337,816.05 as of March 31, 2022, from RMB 4,051,769,706.70 at the end of 2021, representing a growth of approximately 10.3%[12] - The total cash and cash equivalents at the end of the period increased to 2,907,429,442.91 RMB, up from 2,460,960,132.02 RMB[19] - Cash and cash equivalents at the end of Q1 2022 were CNY 2,314,168,365.95, an increase from CNY 1,881,356,093.30 at the end of Q1 2021[26]

Financial Performance - The company's operating revenue for 2021 was CNY 6,594,861,850.05, representing a 2.15% increase compared to CNY 6,455,853,710.64 in 2020[22]. - Net profit attributable to shareholders for 2021 was CNY 1,038,394,361.09, up 4.35% from CNY 995,132,015.27 in 2020[22]. - The net cash flow from operating activities for 2021 was CNY 2,505,773,343.98, a decrease of 1.96% from CNY 2,555,826,406.42 in 2020[22]. - The total assets at the end of 2021 were CNY 27,776,977,884.78, reflecting a 5.84% increase from CNY 26,243,366,760.77 at the end of 2020[22]. - The basic earnings per share for 2021 was CNY 0.19, a 5.56% increase from CNY 0.18 in 2020[23]. - The weighted average return on net assets for 2021 was 6.64%, an increase of 0.10 percentage points from 6.54% in 2020[23]. - The company's gross profit for the year was RMB 250,016.19 million, a decrease of 3.40% year-on-year, with a gross profit margin of 37.91%, down 2.18 percentage points[93]. - The company's net profit for the year was RMB 99,714.04 million, an increase of 10.84% year-on-year, with a net profit margin of 15.75%, up 0.34 percentage points[98]. Dividend Distribution - The company plans to distribute a cash dividend of RMB 0.56 per 10 shares, totaling RMB 312,895,072.00, based on a total share capital of 5,587,412,000 shares as of December 31, 2021[3]. - The board proposed a final dividend of RMB 0.56 per 10 shares (tax included) for the year[34]. - The independent non-executive directors confirmed that the profit distribution plan aligns with the company's actual operating conditions and complies with relevant regulations[150]. - The company will withhold a 10% corporate income tax on dividends distributed to non-resident shareholders[149]. - The dividend payment is expected to be completed by August 25, 2022, pending approval at the annual general meeting[149]. Corporate Governance - The company has established a comprehensive governance structure, including a board of directors with six specialized committees to ensure professional and efficient decision-making[106]. - The company has not reported any significant violations of laws or regulations regarding corporate governance, aligning with the standards set by the China Securities Regulatory Commission[106]. - The board of directors consists of 10 members, including 3 executive directors and 4 independent non-executive directors, maintaining compliance with Hong Kong listing rules[158]. - The company has implemented a board diversity policy, ensuring a mix of age, educational background, industry experience, and tenure among board members[161]. - The company is committed to continuous improvement in corporate governance practices to align with established codes and regulations[155]. Risk Management - The company has implemented a series of internal control measures since July 2010 to enhance risk management and internal control systems[152]. - The board of directors has established a self-evaluation report on risk management and internal control, confirming the effectiveness of the control system during the reporting period[152]. - The company emphasizes a combination of incentives and constraints in its compensation system for senior management, linking it to performance and responsibilities[151]. - The company faced risks including reduced coal demand due to carbon neutrality goals and intensified competition from surrounding ports[92]. Operational Efficiency and Development - The company plans to enhance its main business scale and increase efforts in preliminary work for port projects, such as the Cangzhou Huanghua Port crude oil terminal[36]. - The company is focusing on improving port operation efficiency and enhancing service quality in coal and metal ore logistics[35]. - The company achieved a total throughput of 379 million tons in 2021, with coal throughput at 229 million tons and container throughput at 1.49 million TEU, reflecting a steady operational performance[34]. - The company plans to enhance its metal ore business by focusing on national policies regarding carbon neutrality and optimizing port operations to improve service competitiveness[88]. - The integration of port functions with modern technologies such as IoT and big data is expected to significantly enhance operational efficiency and service capabilities[85]. Environmental and Social Responsibility - The company strictly managed pollutant emissions according to its discharge permit, with no production wastewater discharged in 2021 and air pollutants meeting discharge standards[177]. - The company aims to build a "green port" as a key transformation goal, enhancing energy-saving management systems and promoting the use of new energy equipment[183]. - The company organized a volunteer activity for World Environment Day, with 40 volunteers participating and distributing 1,000 promotional materials to promote green living[182]. - The company established a support model involving "leading enterprises + support units + supported villages," resulting in the cultivation of over 40 acres of pumpkins and sweet potatoes, generating a total income of 140,000 RMB[185]. Management Changes - The financial director resigned on May 17, 2021, with a total compensation of 201,600 yuan during his tenure[111]. - The term of the fourth board of directors and supervisory board expired on June 20, 2021, and the election for the new board will be postponed[116]. - The company has experienced changes in its senior management team, impacting governance structure[116]. - The company is focused on ensuring the smooth transition of leadership roles[116]. Future Outlook - The company anticipates a stable macroeconomic growth in 2022, with improvements in coal supply due to government policies, while coal consumption's proportion is expected to decline gradually[87]. - The company has set a performance guidance for 2022, projecting a revenue growth of 12% to 1.34 billion yuan[112]. - Future outlook remains positive, with management expressing confidence in achieving sustainable growth amid market fluctuations[113].

Financial Performance - The company's operating revenue for 2021 was CNY 6,594,861,850.05, representing a 2.15% increase from CNY 6,455,853,710.64 in 2020[14]. - The net profit attributable to shareholders for 2021 was CNY 1,038,394,361.09, up 4.35% from CNY 995,132,015.27 in 2020[14]. - The net cash flow from operating activities for 2021 was CNY 2,505,773,343.98, a decrease of 1.96% compared to CNY 2,555,826,406.42 in 2020[14]. - The total assets at the end of 2021 were CNY 27,776,977,884.78, an increase of 5.84% from CNY 26,243,366,760.77 at the end of 2020[14]. - The basic earnings per share for 2021 was CNY 0.19, compared to CNY 0.18 in 2020, reflecting a 5.56% increase[15]. - The weighted average return on equity for 2021 was 6.64%, up from 6.54% in 2020, indicating a slight improvement[15]. - The company's cash and cash equivalents increased to CNY 4,051,770,000 from CNY 3,554,825,000 in 2020, showing a positive cash flow trend[17]. - The company reported a total profit of CNY 1,281,441,000 for 2021, compared to CNY 1,233,832,000 in 2020, marking a growth in profitability[17]. - The company's asset-liability ratio was 39.12% at the end of 2021, slightly up from 38.65% in 2020[17]. - The net profit after deducting non-recurring gains and losses for 2021 was CNY 994,371,589.23, an increase of 4.76% from CNY 949,204,357.02 in 2020[14]. Dividend and Shareholder Information - The company plans to distribute a cash dividend of RMB 0.56 per 10 shares, totaling RMB 312,895,072.00 based on a total share capital of 5,587,412,000 shares as of December 31, 2021[2]. - The retained earnings available for distribution to shareholders as of December 31, 2021, amounted to RMB 316,922.56 million[85]. - The profit distribution plan is subject to approval at the 2021 annual general meeting[122]. - The independent non-executive directors support the profit distribution plan, affirming it aligns with the company's operational situation[122]. Operational Efficiency and Market Expansion - The company reported a significant increase in throughput, with a total cargo throughput of 200 million tons, representing a year-on-year growth of 10%[3]. - The company is focusing on expanding its market presence, particularly in coal and mineral transportation, to enhance operational efficiency[3]. - The company has initiated the development of new technologies aimed at improving port logistics and reducing turnaround times for vessels[3]. - The company aims to enhance its service offerings through strategic acquisitions in the logistics sector[3]. - The company is focusing on enhancing port operations and improving loading and navigation efficiency amidst a complex external environment[25]. - The company anticipates an average annual growth rate of over 2% in waterway cargo transport during the "14th Five-Year Plan" period[28]. - The company will continue to push for transformation towards a more intensive, intelligent, green, and low-carbon port operation[28]. Risk Management and Corporate Governance - The company has received a standard unqualified audit report from Ernst & Young Hua Ming[2]. - The company is committed to addressing potential risks as outlined in the management discussion section of the report[2]. - The company emphasizes the importance of maintaining accurate and complete financial reporting to uphold investor confidence[2]. - The company has implemented a series of internal control and risk management measures since July 2010 to safeguard shareholder investments[125]. - The internal control audit report for 2021 received a standard unqualified opinion[128]. - The company maintains a high level of corporate governance, with the board responsible for developing and reviewing governance policies[128]. Technological Advancements and Innovation - The company has implemented a market-oriented salary distribution mechanism and enhanced performance evaluation to boost internal motivation and efficiency[45]. - The company is actively developing a smart port initiative, focusing on automation and digital transformation of port operations[44]. - Research and development expenses surged by 369.75% to RMB 53.88 million, indicating a strong focus on innovation[47]. - The company achieved six provincial-level technology identification results in 2021, including one internationally advanced and five domestically leading[58]. - The company completed 10 patent applications in 2021, receiving authorization for one invention patent and three utility model patents[58]. Environmental and Social Responsibility - The company has established a "green port" as a key transformation goal, enhancing energy-saving management and conducting energy audits to identify weaknesses in energy management[158]. - In 2021, the company invested in energy-saving technical reform projects, promoting new technologies to achieve significant energy-saving effects[158]. - The company has implemented a poverty alleviation strategy, establishing a leadership group to coordinate resources and support rural revitalization efforts[160]. - The company confirmed that it has not received any administrative penalties for environmental issues during the reporting period[157]. - The company has committed to reducing carbon emissions and enhancing energy efficiency as part of its corporate social responsibility initiatives[158]. Shareholder Meetings and Board Activities - The company held its annual general meeting on June 25, 2021, approving 12 proposals including the financial settlement report for 2020 and the profit distribution plan[91]. - The first A-share and H-share meetings in 2021 approved amendments to the company's articles of association and rules of procedure[91]. - The company held a temporary shareholders' meeting on December 16, 2021, where four proposals were approved, including signing a comprehensive service agreement and a financial service framework agreement[91]. - The company held a total of 7 board meetings during the year, with 0 in-person meetings and 3 conducted via communication methods[105]. - The audit committee convened 6 meetings during the reporting period, discussing key financial reports and internal control evaluations[106]. Related Party Transactions - The company has a leasing framework agreement with Hebei Port Group, effective from January 1, 2019, to December 31, 2021[169]. - The company paid a maximum annual rent of RMB 121.53 million to Hebei Port Group under the leasing framework agreement, with total rent incurred in 2021 amounting to RMB 115.24 million[170]. - The company confirmed that all related transactions were conducted under normal commercial terms and were in the overall interest of the company and its shareholders[174]. - The independent non-executive directors reviewed the related transactions and confirmed compliance with the relevant regulations and agreements[174]. Future Outlook - The company provided a positive outlook for 2022, projecting a revenue growth of 10% to 1.32 billion, driven by new product launches and market expansion[94]. - The company plans to enhance its container transportation business and improve port information technology and service levels to achieve high-quality green development[77]. - The company aims to construct a world-class bulk cargo port and will focus on "smart, green, and safe" port development to drive high-quality growth[79].

2021 年第三季度报告 单位：元 币种：人民币 证券代码：601326 证券简称：秦港股份 秦皇岛港股份有限公司 2021 年第三季度报告 本公司董事会及全体董事保证本公告内容不存在任何虚假记载、误导性陈述 或者重大遗漏，并对其内容的真实性、准确性和完整性承担个别及连带责任。 重要内容提示： 公司董事会、监事会及董事、监事、高级管理人员保证季度报告内容的真实、准确、完整， 不存在虚假记载、误导性陈述或重大遗漏，并承担个别和连带的法律责任。 公司负责人、主管会计工作负责人及会计机构负责人（会计主管人员）保证季度报告中财务 报表信息的真实、准确、完整。 第三季度财务报表是否经审计 □是 √否 一、 主要财务数据 (一)主要会计数据和财务指标 本报告期 年初至报告期 | --- | --- | --- | --- | --- | |------------------------------------------------|------------------|------------------------------|------------------|------------------------- ...

Financial Performance - Qinhuangdao Port Co., Ltd. reported a significant increase in throughput volume, reaching 50 million tons in the first half of 2021, representing a 15% year-over-year growth[11]. - The company achieved a revenue of RMB 1.2 billion in the first half of 2021, which is a 10% increase compared to the same period in 2020[11]. - Operating profit for the first half of 2021 was RMB 300 million, reflecting a 12% increase from the previous year[11]. - The company's operating revenue for the first half of the year reached ¥3,247,726,857.34, an increase of 8.42% compared to ¥2,995,402,079.12 in the same period last year[15]. - Net profit attributable to shareholders was ¥698,850,420.51, reflecting a growth of 21.38% from ¥575,741,812.29 year-on-year[15]. - The total comprehensive income for the first half of 2021 reached RMB 739,163,969.07, a significant increase from RMB 553,483,973.50 in the same period of 2020, representing a growth of approximately 33.5%[135]. - The net profit attributable to shareholders of the parent company was RMB 765,636,778.22, compared to RMB 613,200,860.22 in the first half of 2020, indicating a year-over-year increase of about 24.9%[135]. - Basic and diluted earnings per share increased to RMB 0.13 from RMB 0.10, reflecting a growth of 30%[135]. Operational Efficiency - The company plans to expand its market presence by increasing its operational capacity by 20% over the next two years[11]. - Qinhuangdao Port is investing in new technologies to enhance cargo handling efficiency, aiming for a 25% reduction in turnaround time for vessels[11]. - The company has completed the construction of a cloud data center security system and launched an intelligent production management platform, enhancing operational efficiency[27]. - The company is actively promoting cost reduction and efficiency improvement, optimizing management structure and exiting loss-making investments[28]. - The company is advancing automation projects, including the launch of an unmanned gate management system and remote control systems for railway crossings[27]. Financial Position - The total assets at the end of the reporting period amounted to ¥27,314,263,375.28, which is a 4.08% increase from ¥26,243,366,760.77 at the end of the previous year[15]. - The net assets attributable to shareholders increased by 2.84% to ¥15,648,217,685.78 from ¥15,216,180,502.61 year-on-year[15]. - The company's long-term equity investments reached RMB 3,248,012,141.96, accounting for 11.89% of total assets, with a year-on-year growth of 6.40%[46]. - The company's total liabilities increased to CNY 10,808,627,243.70 as of June 30, 2021, compared to CNY 10,143,939,748.56 at the end of 2020, marking a rise of 6.5%[131]. - The company's total equity as of June 30, 2021, was RMB 15,732,765,159.14, an increase from RMB 15,357,874,720.55 at the end of 2020, reflecting a growth of 2.4%[146]. Market and Industry Position - The company operates a highly integrated port service, including loading, storage, warehousing, transportation, and logistics services, primarily handling coal, metal ores, oil products, liquid chemicals, containers, and general cargo[21]. - The company is a leading global operator of bulk dry cargo public terminals, with Qinhuangdao Port being a key hub for coal transportation, maintaining a top position in national coal throughput[22]. - The economic hinterland of the company includes major provinces such as Shandong and Henan, which are significant energy and raw material production bases, ensuring a stable supply of cargo[24]. - The company primarily serves large clients in the coal, power, and steel industries, including major groups like China Coal Group and State Energy Investment Group[26]. Compliance and Governance - The company has no reported non-operational fund occupation by controlling shareholders, ensuring financial integrity[5]. - There are no violations of decision-making procedures regarding external guarantees, maintaining compliance with regulations[5]. - The board of directors confirmed that all members are able to guarantee the accuracy and completeness of the interim report[5]. - The interim report has not been audited, but management has assured the accuracy and completeness of the financial statements[5]. - The company has maintained compliance with environmental regulations, with no administrative penalties reported during the reporting period[95]. Environmental and Social Responsibility - The company is classified as a key pollutant discharge unit in Qinhuangdao City and has complied with pollution discharge permit requirements, with no production wastewater discharged in the first half of 2021[68]. - The company updated its emergency response plan for sudden environmental incidents and conducted a comprehensive emergency drill on July 23, 2021[70]. - The company organized the purchase of agricultural products totaling RMB 1.2951 million to support poverty alleviation and rural revitalization efforts, benefiting local farmers[75]. - The company has formed a leadership group for energy-saving and emission reduction, continuously improving its energy management system since 2008[74]. - The company has committed to a two-year lock-up period for major shareholders post-IPO, with specific conditions for share reduction[77]. Future Outlook - The company anticipates a stable improvement in the domestic macroeconomic environment in the second half of 2021, with strong demand for bulk commodities expected to continue[50]. - The company plans to enhance market development efforts and improve operational efficiency to steadily increase performance levels[50]. - The company expects to continue developing new market opportunities and enhancing service capabilities in response to competitive pressures in the port industry[51].

Financial Performance - Qinhuangdao Port Co., Ltd. reported a significant increase in throughput, reaching 50 million tons in the first half of 2021, representing a 15% year-over-year growth[7]. - The company achieved a revenue of RMB 1.2 billion in the first half of 2021, up 20% compared to the same period in 2020[7]. - Net profit attributable to shareholders for the first half of 2021 was RMB 300 million, reflecting a 25% increase year-over-year[7]. - Future guidance suggests a revenue target of RMB 2.5 billion for the full year 2021, representing a 15% growth from 2020[7]. - The company's operating revenue for the first half of 2021 was ¥3,247,726,857.34, representing an increase of 8.42% compared to the same period last year[12]. - The net profit attributable to shareholders was ¥698,850,420.51, reflecting a growth of 21.38% year-over-year[12]. - The basic earnings per share increased by 30% to ¥0.13, while diluted earnings per share also rose by 30% to ¥0.13[13]. - The company's gross profit for the period was RMB 1,281.57 million, representing a year-on-year increase of 5.67%, with a gross profit margin of 39.46%, down by 1.03 percentage points year-on-year[46]. - The net profit for the period was RMB 670.69 million, an increase of 30.68% year-on-year, with the net profit attributable to the parent company reaching RMB 698.85 million, up 21.38% year-on-year[48]. Operational Capacity and Investments - The company plans to expand its operational capacity by 10% in the next fiscal year to accommodate increasing demand[7]. - Qinhuangdao Port is investing RMB 200 million in new technology to enhance cargo handling efficiency by 30% over the next two years[7]. - The company is expanding its operations in Tangshan and Cangzhou, with the Cangzhou Huanghua Port bulk cargo terminal's first phase successfully completing heavy-load testing in June 2021[19]. - The company is enhancing its service capabilities by opening multiple inland ports and container stations, improving service to the "Three North" regions and central Hebei[19]. - The company is investing in technology innovation, including the development of a smart port management platform and an online business processing system for coal and mineral transactions[19]. Market and Customer Base - User data indicates a 12% increase in customer base, with a focus on expanding services to the logistics sector[7]. - The company aims to enhance its competitive edge by expanding its logistics services and developing port industrial parks[16]. - The company plans to expand its "bulk to container" business and enhance intermodal transport capabilities along the sea-rail corridor[44]. Risks and Challenges - The management highlighted potential risks including regulatory changes and market competition, which could impact future performance[7]. - The company is facing risks related to macroeconomic conditions and competition among ports, particularly in the coal market due to the completion of supporting facilities along the Haoji Railway[45]. Sustainability and Environmental Initiatives - The company is committed to sustainability initiatives, aiming to reduce carbon emissions by 15% by 2025[7]. - The company strictly managed pollutant emissions and reported no production wastewater discharge, with air pollutants meeting the discharge permit requirements in the first half of 2021[58]. - The company actively maintained pollution prevention facilities, ensuring all facilities operated well in the first half of 2021[59]. - The company is committed to building green and safe ports, investing in shore power facilities and improving port greening levels[19]. Financial Management and Governance - The company has established an audit committee in accordance with Hong Kong listing rules, which reviewed the interim financial report for the six months ending June 30, 2021[56]. - The company did not propose any profit distribution or capital reserve transfer plan for the half-year period[57]. - The company has made a long-term commitment to ensure that its actions do not harm the interests of shareholders[70]. - The company has outlined measures to ensure compliance with regulatory requirements regarding information disclosure and investor protection[70]. - The company has emphasized the importance of transparency and accountability in its financial reporting practices[70]. Shareholder Commitments - The actual controller, shareholders, and related parties of the company have committed to not engaging in competitive activities with Qin Port Co., Ltd. and its subsidiaries[67]. - Hebei Port Group has committed to not directly or indirectly engaging in any business that competes with Qin Port Co., Ltd. and its subsidiaries[69]. - The commitment to avoid competition will remain in effect until Hebei Port Group's shareholding in Qin Port Co., Ltd. falls below 30%[69]. - If any competitive business opportunity arises, Hebei Port Group will notify Qin Port Co., Ltd. and offer it the first right of refusal[69]. Financial Position and Assets - The company's total assets reached ¥27,314,263,375.28, marking a 4.08% increase from the end of the previous year[12]. - The company's inventory as of June 30, 2021, was RMB 183,764.88 million, reflecting a 12.85% increase from the previous period[34]. - The company's total liabilities as of June 30, 2021, were RMB 27,307,000.00 million, with a notable increase in other payables by 69.97% to RMB 1,146,413.58 million[34]. - The company's long-term equity investments amounted to RMB 3,248,012.14 million, an increase of 6.40% compared to the beginning of the year[37]. Cash Flow and Financing Activities - The net cash flow from operating activities was ¥1,266,996,125.41, showing a slight decrease of 0.37% compared to the same period last year[12]. - The company reported a significant increase in financing activities, with net cash flow of RMB 58.76 million, a 109.27% increase compared to the previous year[32]. - Cash inflow from financing activities was CNY 548,000,000.00, a notable increase from CNY 213,014,322.00 in the same period last year[115]. Research and Development - Research and development expenses increased by 32.79% to RMB 4.09 million, driven by increased investment in R&D[32]. - The company plans to continue expanding its market presence and investing in new technologies to drive future growth[108].

[Important Notice](index=3&type=section&id=%E4%B8%80%E3%80%81%E9%87%8D%E8%A6%81%E6%8F%90%E7%A4%BA) This chapter confirms the board, supervisory board, and senior management's assurance of the quarterly report's truthfulness, accuracy, and completeness, noting it is unaudited - The company's board of directors, supervisory board, and senior management guarantee the truthfulness, accuracy, and completeness of the quarterly report content and assume legal responsibility[3](index=3&type=chunk) - The company's principal, chief accountant, and head of accounting department guarantee the truthfulness, accuracy, and completeness of the financial statements[3](index=3&type=chunk) - This first quarter report is unaudited[3](index=3&type=chunk) [Company Profile](index=3&type=section&id=%E4%BA%8C%E3%80%81%E5%85%AC%E5%8F%B8%E5%9F%BA%E6%9C%AC%E6%83%85%E5%86%B5) This chapter provides an overview of the company's key financial data and shareholder structure at the reporting period end, highlighting asset and net profit growth, and detailing the top ten shareholders [Key Financial Data](index=3&type=section&id=2.1%20%E4%B8%BB%E8%A6%81%E8%B4%A2%E5%8A%A1%E6%95%B0%E6%8D%AE) The company's total assets and net assets attributable to shareholders increased at the reporting period end, with significant year-on-year growth in operating revenue, net profit, and earnings per share Asset and Liability Key Indicators (Reporting Period End vs. Prior Year End) | Indicator | Reporting Period End (Yuan) | Prior Year End (Yuan) | Change (%) | | :--- | :--- | :--- | :--- | | Total Assets | 26,715,416,563.79 | 26,243,366,760.77 | 1.80 | | Net Assets Attributable to Shareholders of Listed Company | 15,558,283,597.44 | 15,216,180,502.61 | 2.25 | Income Statement and Cash Flow Statement Key Indicators (Year-to-Date Reporting Period End vs. Prior Year-to-Date Reporting Period End) | Indicator | Year-to-Date Reporting Period End (Yuan) | Prior Year-to-Date Reporting Period End (Yuan) | Change (%) | | :--- | :--- | :--- | :--- | | Net Cash Flow from Operating Activities | 634,473,707.78 | 586,706,545.87 | 8.14 | | Operating Revenue | 1,643,864,183.15 | 1,390,695,541.93 | 18.20 | | Net Profit Attributable to Shareholders of Listed Company | 327,108,175.12 | 252,346,656.99 | 29.63 | | Net Profit Attributable to Shareholders of Listed Company (Excluding Non-Recurring Items) | 316,634,894.63 | 243,337,471.49 | 30.12 | | Weighted Average Return on Net Assets (%) | 2.13 | 1.71 | Increased by 0.42 percentage points | | Basic Earnings Per Share (Yuan/share) | 0.06 | 0.05 | 20.00 | | Diluted Earnings Per Share (Yuan/share) | 0.06 | 0.05 | 20.00 | Non-Recurring Gains and Losses and Amounts (Current Period) | Item | Current Period Amount (Yuan) | | :--- | :--- | | Gains and Losses from Disposal of Non-Current Assets | -58,652.46 | | Government Subsidies Included in Current Profit and Loss | 14,060,138.71 | | Other Non-Operating Income and Expenses Apart from the Above | 50,356.12 | | Impact of Minority Interests (After Tax) | -65,601.29 | | Income Tax Impact | -3,512,960.59 | | **Total** | **10,473,280.49** | [Shareholder Information at Reporting Period End](index=4&type=section&id=2.2%20%E6%88%AA%E6%AD%A2%E6%8A%A5%E5%91%8A%E6%9C%9F%E6%9C%AB%E7%9A%84%E8%82%A1%E4%B8%9C%E6%80%BB%E6%95%B0%E3%80%81%E5%89%8D%E5%8D%81%E5%90%8D%E8%82%A1%E4%B8%9C%E3%80%81%E5%89%8D%E5%8D%81%E5%90%8D%E6%B5%81%E9%80%9A%E8%82%A1%E4%B8%9C%EF%BC%88%E6%88%96%E6%97%A0%E9%99%90%E5%94%AE%E6%9D%A1%E4%BB%B6%E8%82%A1%E4%B8%9C%EF%BC%89%E6%8C%81%E8%82%A1%E6%83%85%E5%86%B5%E8%A1%A8) As of the reporting period end, the company had 70,455 shareholders, with Hebei Port Group Co., Ltd. as the largest at 54.27% and Hong Kong Securities Clearing Company (Nominees) Limited as the second largest at 14.81% - As of the reporting period end, the **total number of shareholders was 70,455**[6](index=6&type=chunk) Top Ten Shareholders' Shareholding | Shareholder Name | Shares Held at Period End (Shares) | Proportion (%) | Share Status | Shareholder Nature | | :--- | :--- | :--- | :--- | :--- | | Hebei Port Group Co., Ltd. | 3,032,528,078 | 54.27 | No pledge or freeze | State-owned Legal Person | | Hong Kong Securities Clearing Company (Nominees) Limited | 827,398,382 | 14.81 | Unknown | Overseas Legal Person | | Qinhuangdao Municipal People's Government State-owned Assets Supervision and Administration Commission | 621,455,485 | 11.12 | No pledge or freeze | State | | Hebei Construction Investment Transportation Investment Co., Ltd. | 209,866,757 | 3.76 | No pledge or freeze | State-owned Legal Person | | Daqin Railway Co., Ltd. | 42,750,000 | 0.77 | No pledge or freeze | State-owned Legal Person | | COSCO Shipping (Tianjin) Co., Ltd. | 41,437,588 | 0.74 | No pledge or freeze | State-owned Legal Person | | Jineng Holding Coal Industry Group Co., Ltd. | 41,437,588 | 0.74 | No pledge or freeze | State-owned Legal Person | | Li Guo | 40,000,000 | 0.72 | No pledge or freeze | Domestic Natural Person | | Shougang Group Co., Ltd. | 32,703,388 | 0.59 | No pledge or freeze | State-owned Legal Person | | Shanxi Provincial People's Government Qinhuangdao Port Management Office | 30,538,764 | 0.55 | No pledge or freeze | Other | - Hebei Port Group holds 71,303,000 H-shares of Qinhuangdao Port Co., Ltd. through its wholly-owned overseas subsidiary, accounting for **1.28% of the total share capital**, which is included in the total shares held by Hong Kong Securities Clearing Company (Nominees) Limited[7](index=7&type=chunk) [Significant Events](index=5&type=section&id=%E4%B8%89%E3%80%81%E9%87%8D%E8%A6%81%E4%BA%8B%E9%A1%B9) This chapter details significant changes and their causes in key financial statement items and indicators, including assets, liabilities, profit/loss, and cash flow, confirming no other important developments or overdue commitments [Significant Changes in Key Financial Items and Indicators](index=5&type=section&id=3.1%20%E5%85%AC%E5%8F%B8%E4%B8%BB%E8%A6%81%E4%BC%9A%E8%AE%A1%E6%8A%A5%E8%A1%A8%E9%A1%B9%E7%9B%AE%E3%80%81%E8%B4%A2%E5%8A%A1%E6%8C%87%E6%A0%87%E9%87%8D%E5%A4%A7%E5%8F%98%E5%8A%A8%E7%9A%84%E6%83%85%E5%86%B5%E5%8F%8A%E5%8E%9F%E5%9B%A0) During the reporting period, several financial indicators changed significantly, including increases in other non-current assets and accounts payable, a sharp rise in credit impairment losses, a substantial decrease in non-operating income/expenses, higher income tax, improved investing cash flow, and positive financing cash flow - Other non-current assets increased by **52%** from the beginning of the year to **110,691,872.03 Yuan**, primarily due to increased VAT input tax credits and prepaid engineering costs of subsidiaries[8](index=8&type=chunk) - Accounts payable increased by **43%** from the beginning of the year to **264,581,890.97 Yuan**, mainly due to increased operating payables[8](index=8&type=chunk) - Credit impairment losses increased by **912%** year-on-year to **4,256,504.36 Yuan**, primarily due to changes in the aging of subsidiaries' accounts receivable, leading to increased provision for bad debts[8](index=8&type=chunk) - Non-operating income decreased by **80%** year-on-year to **50,456.12 Yuan**, mainly due to gains from the disposal of scrapped fixed assets in the prior year[8](index=8&type=chunk) - Net cash flow from investing activities increased by **63%** year-on-year to **-366,663,709.78 Yuan**, primarily due to a decrease in net investment in time deposits exceeding three months[8](index=8&type=chunk) - Net cash flow from financing activities increased by **124%** year-on-year to **12,991,663.84 Yuan**, mainly due to an increase in borrowings[9](index=9&type=chunk) [Progress, Impact, and Solutions for Significant Events](index=6&type=section&id=3.2%20%E9%87%8D%E8%A6%81%E4%BA%8B%E9%A1%B9%E8%BF%9B%E5%B1%95%E6%83%85%E5%86%B5%E5%8F%8A%E5%85%B6%E5%BD%B1%E5%93%8D%E5%92%8C%E8%A7%A3%E5%86%B3%E6%96%B9%E6%A1%88%E7%9A%84%E5%88%86%E6%9E%90%E8%AF%B4%E6%98%8E) No significant events requiring disclosure of progress, impact, or solutions occurred during the reporting period [Overdue Unfulfilled Commitments](index=6&type=section&id=3.3%20%E6%8A%A5%E5%91%8A%E6%9C%9F%E5%86%85%E8%B6%85%E6%9C%9F%E6%9C%AA%E5%B1%A5%E8%A1%8C%E5%AE%8C%E6%AF%95%E7%9A%84%E6%89%BF%E8%AF%BA%E4%BA%8B%E9%A1%B9) No overdue unfulfilled commitments existed during the reporting period [Warning on Cumulative Net Profit Forecast](index=6&type=section&id=3.4%20%E9%A2%84%E6%B5%8B%E5%B9%B4%E5%88%9D%E8%87%B3%E4%B8%8B%E4%B8%80%E6%8A%A5%E5%91%8A%E6%9C%9F%E6%9C%AB%E7%9A%84%E7%B4%AF%E8%AE%A1%E5%87%80%E5%88%A9%E6%B6%A6%E5%8F%AF%E8%83%BD%E4%B8%BA%E4%BA%8F%E6%8D%9F%E6%88%96%E8%80%85%E4%B8%8E%E4%B8%8A%E5%B9%B4%E5%90%8C%E6%9C%9F%E7%9B%B8%E6%AF%94%E5%8F%91%E7%94%9F%E9%87%8D%E5%A4%A7%E5%8F%98%E5%8A%A8%E7%9A%84%E8%AD%A6%E7%A4%BA%E5%8F%8A%E5%8E%9F%E5%9B%A0%E8%AF%B4%E6%98%8E) No warning or explanation regarding potential cumulative net profit loss or significant change compared to the prior year was issued for the period from year-beginning to the next reporting period end [Appendix](index=6&type=section&id=%E5%9B%9B%E3%80%81%E9%99%84%E5%BD%95) The appendix includes the company's unaudited consolidated and parent company financial statements, comprising balance sheets, income statements, and cash flow statements, detailing financial position, operating results, and cash flows, along with new lease standard implementation and audit report status [Financial Statements](index=6&type=section&id=4.1%20%E8%B4%A2%E5%8A%A1%E6%8A%A5%E8%A1%A8) This section presents the company's unaudited consolidated and parent company balance sheets, income statements, and cash flow statements, offering detailed financial data for Q1 2021 performance and position [Consolidated Balance Sheet](index=6&type=section&id=4.1.1%20%E5%90%88%E5%B9%B6%E8%B5%84%E4%BA%A7%E8%B4%9F%E5%80%BA%E8%A1%A8) As of March 31, 2021, consolidated total assets and equity attributable to parent company owners slightly increased, with notable changes in monetary funds, accounts receivable, other non-current assets, short-term borrowings, and accounts payable Consolidated Balance Sheet Major Item Changes (March 31, 2021 vs. December 31, 2020) | Item | March 31, 2021 (Yuan) | December 31, 2020 (Yuan) | Change (%) | | :--- | :--- | :--- | :--- | | Monetary Funds | 4,068,619,297.31 | 3,554,825,387.07 | 14.45 | | Accounts Receivable | 72,303,595.86 | 58,344,006.76 | 23.93 | | Other Non-Current Assets | 110,691,872.03 | 72,940,444.96 | 51.75 | | Short-Term Borrowings | 370,837,905.54 | 322,940,547.75 | 14.83 | | Accounts Payable | 264,581,890.97 | 185,335,672.51 | 42.76 | | Contract Liabilities | 511,409,839.99 | 630,272,097.10 | -18.86 | | Taxes Payable | 184,553,319.91 | 149,212,114.42 | 23.68 | | Other Payables | 771,102,136.48 | 674,477,406.66 | 14.33 | | Total Liabilities | 10,304,130,188.17 | 10,143,939,748.56 | 1.58 | | Total Equity Attributable to Parent Company Owners | 15,558,283,597.44 | 15,216,180,502.61 | 2.25 | | Total Assets | 26,715,416,563.79 | 26,243,366,760.77 | 1.80 | [Parent Company Balance Sheet](index=9&type=section&id=4.1.2%20%E6%AF%8D%E5%85%AC%E5%8F%B8%E8%B5%84%E4%BA%A7%E8%B4%9F%E5%80%BA%E8%A1%A8) As of March 31, 2021, the parent company's total assets and owner's equity increased, with notable rises in monetary funds, accounts payable, taxes payable, and other payables, while notes receivable and contract liabilities decreased Parent Company Balance Sheet Major Item Changes (March 31, 2021 vs. December 31, 2020) | Item | March 31, 2021 (Yuan) | December 31, 2020 (Yuan) | Change (%) | | :--- | :--- | :--- | :--- | | Monetary Funds | 3,137,356,093.30 | 2,738,571,439.42 | 14.56 | | Notes Receivable | 27,000,000.00 | 52,400,000.00 | -48.47 | | Accounts Payable | 125,400,624.02 | 73,043,808.03 | 71.68 | | Contract Liabilities | 378,942,445.94 | 465,909,707.56 | -18.70 | | Taxes Payable | 152,907,721.92 | 105,113,307.53 | 45.47 | | Other Payables | 93,673,657.82 | 62,179,310.02 | 50.65 | | Total Liabilities | 2,333,591,131.85 | 2,310,272,397.60 | 1.01 | | Total Owner's Equity | 15,710,860,904.05 | 15,357,874,720.55 | 2.29 | | Total Assets | 18,044,452,035.90 | 17,668,147,118.15 | 2.13 | [Consolidated Income Statement](index=11&type=section&id=4.1.3%20%E5%90%88%E5%B9%B6%E5%88%A9%E6%B6%A6%E8%A1%A8) In Q1 2021, consolidated total operating revenue grew by 18.20% year-on-year, with net profit attributable to parent company shareholders increasing by 29.63%, reflecting strong earnings, despite decreased financial expenses and significantly increased credit impairment losses Consolidated Income Statement Major Item Changes (Q1 2021 vs. Q1 2020) | Item | Q1 2021 (Yuan) | Q1 2020 (Yuan) | Change (%) | | :--- | :--- | :--- | :--- | | Total Operating Revenue | 1,643,864,183.15 | 1,390,695,541.93 | 18.20 | | Total Operating Costs | 1,287,241,228.09 | 1,169,692,563.22 | 10.05 | | Operating Costs | 991,257,512.60 | 882,101,464.73 | 12.37 | | Administrative Expenses | 145,994,589.42 | 130,108,115.66 | 12.21 | | Financial Expenses | 57,104,856.32 | 68,109,522.17 | -16.29 | | Credit Impairment Losses | -4,256,504.36 | 523,996.66 | -912.00 | | Operating Profit | 409,883,329.90 | 278,892,355.83 | 46.96 | | Total Profit | 409,875,033.56 | 273,235,604.75 | 50.01 | | Income Tax Expense | 113,634,698.23 | 71,514,106.33 | 58.89 | | Net Profit | 296,240,335.33 | 201,721,498.42 | 46.86 | | Net Profit Attributable to Parent Company Shareholders | 327,108,175.12 | 252,346,656.99 | 29.63 | | Basic Earnings Per Share (Yuan/share) | 0.06 | 0.05 | 20.00 | [Parent Company Income Statement](index=13&type=section&id=4.1.4%20%E6%AF%8D%E5%85%AC%E5%8F%B8%E5%88%A9%E6%B6%A6%E8%A1%A8) In Q1 2021, parent company operating revenue increased by 20.08% year-on-year, with net profit growing by 18.91%, while financial expenses turned positive and credit impairment losses shifted from a gain to a loss Parent Company Income Statement Major Item Changes (Q1 2021 vs. Q1 2020) | Item | Q1 2021 (Yuan) | Q1 2020 (Yuan) | Change (%) | | :--- | :--- | :--- | :--- | | Operating Revenue | 1,150,205,293.05 | 957,898,027.90 | 20.08 | | Operating Costs | 586,706,839.16 | 507,742,122.78 | 15.56 | | Administrative Expenses | 121,272,957.42 | 104,850,208.84 | 15.66 | | Financial Expenses | -10,875,055.05 | -8,096,408.85 | 34.32 | | Credit Impairment Losses | -185,134.29 | 1,219,571.23 | -115.18 | | Operating Profit | 448,442,848.64 | 357,876,708.15 | 25.32 | | Total Profit | 448,445,217.49 | 357,987,183.96 | 25.27 | | Income Tax Expense | 106,382,589.93 | 70,332,892.88 | 51.27 | | Net Profit | 342,062,627.56 | 287,654,291.08 | 18.91 | [Consolidated Cash Flow Statement](index=14&type=section&id=4.1.5%20%E5%90%88%E5%B9%B6%E7%8E%B0%E9%87%91%E6%B5%81%E9%87%8F%E8%A1%A8) In Q1 2021, consolidated net cash flow from operating activities increased by 8.14% year-on-year, with significantly reduced investment cash outflows narrowing the negative investing cash flow, and financing cash flow turning positive due to increased borrowings Consolidated Cash Flow Statement Major Item Changes (Q1 2021 vs. Q1 2020) | Item | Q1 2021 (Yuan) | Q1 2020 (Yuan) | Change (%) | | :--- | :--- | :--- | :--- | | Subtotal of Cash Inflows from Operating Activities | 1,606,518,554.00 | 1,504,986,286.42 | 6.75 | | Subtotal of Cash Outflows from Operating Activities | 972,044,846.22 | 918,279,740.55 | 5.85 | | Net Cash Flow from Operating Activities | 634,473,707.78 | 586,706,545.87 | 8.14 | | Subtotal of Cash Inflows from Investing Activities | 18,332,779.19 | 202,898,771.26 | -90.96 | | Subtotal of Cash Outflows from Investing Activities | 384,996,488.97 | 1,187,391,137.05 | -67.58 | | Net Cash Flow from Investing Activities | -366,663,709.78 | -984,492,365.79 | 62.75 | | Subtotal of Cash Inflows from Financing Activities | 120,000,000.00 | 50,000,000.00 | 140.00 | | Subtotal of Cash Outflows from Financing Activities | 107,008,336.16 | 104,955,579.86 | 1.96 | | Net Cash Flow from Financing Activities | 12,991,663.84 | -54,955,579.86 | 123.64 | | Net Increase in Cash and Cash Equivalents | 281,155,244.95 | -450,900,274.63 | 162.35 | [Parent Company Cash Flow Statement](index=16&type=section&id=4.1.6%20%E6%AF%8D%E5%85%AC%E5%8F%B8%E7%8E%B0%E9%87%91%E6%B5%81%E9%87%8F%E8%A1%A8) In Q1 2021, parent company net cash flow from operating activities remained stable, with significantly reduced investment cash outflows narrowing the negative investing cash flow, and financing cash flow remaining negative but with a smaller outflow Parent Company Cash Flow Statement Major Item Changes (Q1 2021 vs. Q1 2020) | Item | Q1 2021 (Yuan) | Q1 2020 (Yuan) | Change (%) | | :--- | :--- | :--- | :--- | | Subtotal of Cash Inflows from Operating Activities | 1,133,024,911.40 | 1,063,163,836.04 | 6.57 | | Subtotal of Cash Outflows from Operating Activities | 721,735,892.40 | 653,637,448.44 | 10.42 | | Net Cash Flow from Operating Activities | 411,289,019.00 | 409,526,387.60 | 0.43 | | Subtotal of Cash Inflows from Investing Activities | 13,208,421.00 | 0.00 | N/A | | Subtotal of Cash Outflows from Investing Activities | 123,606,338.73 | 764,917,470.89 | -83.84 | | Net Cash Flow from Investing Activities | -110,397,917.73 | -764,917,470.89 | 85.57 | | Subtotal of Cash Inflows from Financing Activities | 0.00 | 0.00 | N/A | | Subtotal of Cash Outflows from Financing Activities | 2,164,334.50 | 2,973,188.58 | -27.28 | | Net Cash Flow from Financing Activities | -2,164,334.50 | -2,973,188.58 | 27.28 | | Net Increase in Cash and Cash Equivalents | 298,784,653.88 | -357,244,817.68 | 183.50 | [New Lease Standards Adoption: Initial Financial Statement Adjustments](index=18&type=section&id=4.2%202021%20%E5%B9%B4%E8%B5%B7%E9%A6%96%E6%AC%A1%E6%89%A7%E8%A1%8C%E6%96%B0%E7%A7%9F%E8%B5%81%E5%87%86%E5%88%99%E8%B0%83%E6%95%B4%E9%A6%96%E6%AC%A1%E6%89%A7%E8%A1%8C%E5%BD%93%E5%B9%B4%E5%B9%B4%E5%88%9D%E8%B4%A2%E5%8A%A1%E6%8A%A5%E8%A1%A8%E7%9B%B8%E5%85%B3%E6%83%85%E5%86%B5) During the reporting period, the company did not adopt new lease standards for the first time or adjust initial financial statements accordingly [New Lease Standards Adoption: Retrospective Adjustments](index=18&type=section&id=4.3%202021%20%E5%B9%B4%E8%B5%B7%E9%A6%96%E6%AC%A1%E6%89%A7%E8%A1%8C%E6%96%B0%E7%A7%9F%E8%B5%81%E5%87%86%E5%88%99%E8%BF%BD%E6%BA%AF%E8%B0%83%E6%95%B4%E5%89%8D%E6%9C%9F%E6%AF%94%E8%BE%83%E6%95%B0%E6%8D%AE%E7%9A%84%E8%AF%B4%E6%98%8E) During the reporting period, the company did not adopt new lease standards for the first time or retrospectively adjust prior period comparative data [Audit Report](index=18&type=section&id=4.4%20%E5%AE%A1%E8%AE%A1%E6%8A%A5%E5%91%8A) This first quarter report is unaudited and thus does not include an audit report

Financial Performance - The company's operating revenue for 2020 was CNY 6,455,853,710.64, a decrease of 3.97% compared to 2019[21]. - The net profit attributable to shareholders for 2020 was CNY 995,132,015.27, representing a growth of 6.86% year-over-year[21]. - The basic earnings per share for 2020 was CNY 0.18, an increase of 5.88% from CNY 0.17 in 2019[22]. - The total assets at the end of 2020 amounted to CNY 26,243,366,760.77, reflecting a 3.00% increase from the previous year[21]. - The net cash flow from operating activities for 2020 was CNY 2,555,826,406.42, up by 4.19% compared to 2019[21]. - The weighted average return on equity for 2020 was 6.54%, slightly up from 6.53% in 2019[22]. - The company reported a total profit of CNY 1,233,832,000 for 2020, an increase from CNY 1,093,249,000 in 2019[24]. - The cash and cash equivalents at the end of 2020 were CNY 3,554,825,000, compared to CNY 2,805,072,000 at the end of 2019[24]. - The company's total liabilities to total assets ratio was 38.65% at the end of 2020, down from 38.82% in 2019[24]. - The net profit attributable to shareholders after deducting non-recurring gains and losses was CNY 949,204,357.02, a 9.56% increase from the previous year[21]. Dividend Distribution - The company plans to distribute a cash dividend of RMB 0.64 per 10 shares, totaling RMB 357,594,368.00, based on a total share capital of 5,587,412,000 shares as of December 31, 2020[5]. - The board has proposed a final dividend of RMB 0.64 per share for the year[46]. - In 2020, the company distributed cash dividends of 0.64 RMB per 10 shares, representing 35.93% of the net profit attributable to ordinary shareholders[128]. - In 2019, the cash dividend was 0.90 RMB per 10 shares, which accounted for 54.00% of the net profit attributable to ordinary shareholders[128]. - In 2018, the cash dividend was 0.77 RMB per 10 shares, representing 53.10% of the net profit attributable to ordinary shareholders[128]. - The company plans to maintain a minimum cash dividend distribution of 30% of the net profit attributable to shareholders in profitable years[121]. Audit and Compliance - The company has received a standard unqualified audit report from Ernst & Young Hua Ming[4]. - The company has maintained a consistent approach to its financial reporting, ensuring accuracy and completeness as confirmed by its board and management[8]. - The company operates under the supervision of the China Securities Regulatory Commission and adheres to the listing rules of the Shanghai and Hong Kong stock exchanges[11]. - The supervisory board confirmed that the financial reports for 2020 were objective, true, and reasonable, complying with legal and regulatory requirements[196]. - No violations of laws or regulations by the board of directors and senior management were found during their operational oversight[196]. Operational Strategy and Market Position - The company operates a comprehensive port service, handling major cargo types including coal, metal ores, oil products, and containers, with a focus on enhancing service levels and expanding customer base[34]. - The company has established a cross-port operation strategy, with significant coal transportation through Qinhuangdao Port, which remains a key hub for coal transport in China[39]. - The company is actively expanding its business into diversified sectors, including minerals and containers, to enhance its market competitiveness[37]. - The marketing model for coal business is independent, with direct management and no distribution agents, focusing on long-term contracts with major coal shipping enterprises[35]. - The company is focusing on enhancing its service capabilities in the "Three North" regions and Hebei Central South by opening multiple inland ports and new shipping routes[40]. Risk Management - The company has described potential risks in its report, which can be found in the section discussing operational conditions and analysis[7]. - The company emphasizes that forward-looking statements do not constitute a substantive commitment to investors, highlighting investment risks[6]. - The company anticipates challenges in production due to domestic energy structure adjustments and increased competition from imported coal, but sees opportunities in the new development pattern of domestic and international dual circulation[51]. - The company faced risks including potential demand limitations in the domestic coal market and intensified competition in the Bohai Rim region[103]. Corporate Governance and Shareholder Relations - The company has established measures to ensure that no unfair benefits are provided to other entities or individuals, maintaining the integrity of its operations[135]. - The company has a structured profit distribution policy that includes differentiated cash dividend policies based on its development stage and capital expenditure plans[122]. - The company will issue a notice three trading days in advance if major shareholders decide to reduce their holdings[132]. - The company has commitments from major shareholders regarding shareholding reduction after the lock-up period[132]. - The company will publicly apologize to shareholders and investors if commitments are not fulfilled[137]. Social Responsibility and Community Engagement - The company has actively engaged in social responsibility efforts, including poverty alleviation and community support initiatives[170]. - A total of ¥6.33 million was invested in industry development projects aimed at poverty alleviation, benefiting 265 individuals[173]. - The company helped 265 registered impoverished individuals to escape poverty through its initiatives[173]. Environmental Compliance - The company has completed the construction of pollution prevention facilities and all equipment is operating well as of 2020[178]. - The company has not discharged any production wastewater in 2020, and air pollutants were discharged in compliance with the pollution discharge permit[177]. - The company has organized emergency drills for production safety and environmental incidents to improve response capabilities[180]. - The company has adhered to all relevant laws and regulations, ensuring compliance to avoid operational license termination[183].