Financial Performance - The company's operating revenue for Q1 2025 was RMB 1,610,990,685.11, a decrease of 5.99% compared to RMB 1,713,687,914.24 in the same period last year[7]. - Net profit attributable to shareholders was RMB 420,609,792.74, down 3.07% from RMB 433,950,677.22 year-on-year[7]. - Total revenue for Q1 2025 was approximately ¥1.61 billion, a decrease of 6.0% compared to ¥1.71 billion in Q1 2024[27]. - Net profit for Q1 2025 was approximately ¥445.33 million, slightly up from ¥444.32 million in Q1 2024, indicating a marginal increase of 0.23%[28]. - The company reported a total comprehensive income of approximately ¥393.41 million in Q1 2025, down 13.8% from ¥456.14 million in Q1 2024[30]. - Net profit for Q1 2025 was 281,543,280.58 CNY after tax, compared to 301,781,858.54 CNY in Q1 2024, reflecting a decline of 6.7%[40]. - Total comprehensive income for Q1 2025 was approximately ¥229.62 million, down 26.8% from ¥313.59 million in Q1 2024[41]. Cash Flow - The net cash flow from operating activities decreased by 61.32%, amounting to RMB 280,625,250.79 compared to RMB 725,460,808.36 in the previous year[7]. - Cash flow from operating activities for Q1 2025 was approximately ¥280.63 million, a significant decrease of 61.2% from ¥725.46 million in Q1 2024[32]. - Cash flow from operating activities totaled approximately ¥774.76 million in Q1 2025, down 26.5% from ¥1.05 billion in Q1 2024[42]. - The net cash flow from financing activities was -63,522,339.96 CNY for the first quarter of 2025, compared to -54,223,797.14 CNY in the same period of 2024[34]. - The company reported a significant increase in cash and cash equivalents, with a net increase of 322,489,220.73 CNY in Q1 2025 compared to 1,104,942,341.86 CNY in Q1 2024[34]. Assets and Liabilities - Total assets at the end of the reporting period were RMB 27,934,887,444.83, reflecting a slight increase of 0.20% from RMB 27,880,013,639.48 at the end of the previous year[9]. - The total current assets amounted to RMB 5,194,323,189.40, an increase from RMB 4,975,430,791.18 as of December 31, 2024, representing a growth of approximately 4.4%[21]. - The total non-current assets decreased to RMB 22,740,564,255.43 from RMB 22,904,582,848.30, indicating a decline of about 0.7%[22]. - The total liabilities as of March 31, 2025, were RMB 7,256,251,857.19, down from RMB 7,608,797,848.52, reflecting a reduction of approximately 4.6%[24]. - The total equity increased to RMB 20,678,635,587.64 from RMB 20,271,215,790.96, showing a growth of about 2.0%[25]. Shareholder Information - The number of ordinary shareholders at the end of the reporting period was 52,167[15]. - The top shareholder, Hebei Port Group Co., Ltd., holds 58.27% of the shares, totaling 3,256,008,078 shares[17]. Other Income and Expenses - Other income rose by 80.31%, mainly due to government subsidies received by the group[13]. - Research and development expenses decreased to approximately ¥14.91 million in Q1 2025 from ¥21.12 million in Q1 2024, a reduction of 29.4%[27]. - The company reported a decrease in other receivables from RMB 167,937,083.02 to RMB 23,258,325.18, indicating a decline of approximately 86.2%[21]. - The company experienced a decrease in tax expenses, reporting approximately ¥86.97 million in Q1 2025 compared to ¥87.04 million in Q1 2024[28].

证券代码：601326 证券简称：秦港股份 公告编号：2025-010 秦皇岛港股份有限公司 第五届监事会第二十次会议决议公告 本公司监事会及全体监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法律责任。 一、监事会会议召开情况 秦皇岛港股份有限公司（以下简称"公司"）第五届监事会第二十次会议于 2025 年 4 月 14 日以专人送达或电子邮件方式发出通知，于 2025 年 4 月 28 日以通讯的方 式召开。会议应出席监事 5 人，实际出席监事 5 人。会议召开时间、地点、方式等符 合《中华人民共和国公司法》等相关法律、行政法规、部门规章和《公司章程》的规 定。 二、监事会会议审议情况 本次会议审议并通过以下议案： （一）《关于本公司 2025 年第一季度报告的议案》 根据《中华人民共和国公司法》和《公司章程》的相关规定，监事会对公司编制 的 2025 年第一季度报告发表审核意见如下： 1.公司 2025 年第一季度报告的编制和审议程序符合法律、法规、《公司章程》的 各项规定； 2.公司 2025 年第一季度报告的内容和格式符合中国证监会和上海证券交易 ...

证券代码：601326 证券简称：秦港股份 公告编号：2025-009 表决结果：9 票同意，0 票反对，0 票弃权。 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法律责任。 详见公司同日披露的《秦皇岛港股份有限公司 2025 年第一季度报告》。 特此公告。 一、董事会会议召开情况 秦皇岛港股份有限公司（以下简称"公司"）第五届董事会第二十九次会议于 2025 年 4 月 14 日以专人送达或电子邮件方式发出通知，于 2025 年 4 月 28 日以现场结合 通讯的方式召开。会议应出席董事 9 人，实际出席董事 9 人。会议召开时间、地点、 方式等符合《中华人民共和国公司法》等相关法律、行政法规、部门规章和《公司章 程》的规定。 二、董事会会议审议情况 本次会议审议并通过以下议案： （一）《关于本公司 2025 年第一季度报告的议案》 秦皇岛港股份有限公司 第五届董事会第二十九次会议决议公告 本议案经董事会审计委员会审议通过，同意提交董事会审议。 秦皇岛港股份有限公司董事会 2025 年 4 月 29 日 1 ...

Financial Performance - The company's operating revenue for Q1 2025 was CNY 1,610,990,685.11, a decrease of 5.99% compared to CNY 1,713,687,914.24 in the same period last year[4] - Net profit attributable to shareholders was CNY 420,609,792.74, down 3.07% from CNY 433,950,677.22 year-on-year[4] - Total operating revenue for Q1 2025 was CNY 1,610,990,685.11, a decrease of 6.0% compared to CNY 1,713,687,914.24 in Q1 2024[16] - Net profit for Q1 2025 was CNY 445,334,840.39, slightly up from CNY 444,319,257.60 in Q1 2024, reflecting a growth of 0.2%[16] - Operating profit for Q1 2025 was CNY 531,637,903.94, nearly unchanged from CNY 531,629,096.08 in Q1 2024[17] - The total comprehensive income for the first quarter of 2025 was CNY 393,406,801.98, a decrease from CNY 456,140,809.95 in the same period of 2024, representing a decline of approximately 13.8%[18] - The company's total revenue for Q1 2025 was ¥870,345,972.34, a decrease of 12.3% compared to ¥992,865,874.49 in Q1 2024[30] - Operating profit for Q1 2025 was ¥357,468,705.49, down from ¥378,929,329.19 in Q1 2024, reflecting a decline of 5.6%[31] - Net profit for Q1 2025 was ¥281,543,280.58, compared to ¥301,781,858.54 in Q1 2024, representing a decrease of 6.7%[31] Cash Flow - The net cash flow from operating activities decreased significantly by 61.32%, from CNY 725,460,808.36 to CNY 280,625,250.79[4] - The net cash flow from operating activities for Q1 2025 was CNY 280,625,250.79, down 61.3% from CNY 725,460,808.36 in Q1 2024[21] - Cash inflows from investment activities totaled CNY 323,094,922.41 in Q1 2025, compared to CNY 685,893,209.00 in Q1 2024, indicating a decrease of about 52.9%[22] - The net cash flow from financing activities was -CNY 63,522,339.96 in Q1 2025, worsening from -CNY 54,223,797.14 in Q1 2024[23] - The ending cash and cash equivalents balance as of March 31, 2025, was CNY 2,069,815,428.06, down from CNY 2,794,210,198.12 at the end of 2024[23] - The total operating cash inflows decreased to CNY 1,395,462,864.56 in Q1 2025 from CNY 1,773,319,118.31 in Q1 2024, reflecting a decline of approximately 21.3%[21] - The cash outflows from operating activities increased to CNY 1,114,837,613.77 in Q1 2025, compared to CNY 1,047,858,309.95 in Q1 2024, marking an increase of about 6.4%[21] - Cash inflow from investment activities in Q1 2025 was ¥301,313,676.75, down from ¥669,156,809.00 in Q1 2024, reflecting a decrease of 55.0%[33] - The net cash flow from financing activities was -4,393,835.95, indicating a cash outflow[34] Assets and Liabilities - Total assets at the end of the reporting period increased by 0.20% to CNY 27,934,887,444.83 from CNY 27,880,013,639.48 at the end of the previous year[5] - Total assets as of March 31, 2025, were CNY 27,934,887,444.83, a slight increase from CNY 27,880,013,639.48 at the end of 2024[12] - Total liabilities decreased to CNY 7,256,251,857.19 as of March 31, 2025, down from CNY 7,608,797,848.52 at the end of 2024, a reduction of 4.6%[13] - Total liabilities decreased to ¥1,529,972,680.22 from ¥1,649,450,678.20, a reduction of approximately 7.2%[28] - The company's non-current liabilities increased to ¥421,379,814.95 from ¥395,294,379.71, marking an increase of 6.6%[28] Shareholder Information - The number of ordinary shareholders at the end of the reporting period was 52,167[8] - The largest shareholder, Hebei Port Group Co., Ltd., holds 58.27% of the shares, totaling 3,256,008,078 shares[9] Research and Development - Research and development expenses for Q1 2025 were CNY 14,906,682.99, down 29.3% from CNY 21,117,963.35 in Q1 2024[17] - Research and development expenses for Q1 2025 were ¥12,093,726.27, down from ¥17,397,172.99 in Q1 2024, a decrease of 30.5%[31] Government Subsidies - The company received government subsidies amounting to CNY 3,747,478.96, which are closely related to its normal business operations[6] Cash and Cash Equivalents - The company's cash and cash equivalents increased to CNY 4,492,371,579.69 as of March 31, 2025, compared to CNY 4,280,764,065.06 at the end of 2024, representing a growth of 4.9%[11] - The cash and cash equivalents at the end of the period amounted to 1,252,937,674.69, compared to 975,120,531.75 at the beginning of the period[34] - The net increase in cash and cash equivalents was 277,817,142.94, reflecting a significant inflow[34] - The impact of exchange rate changes on cash and cash equivalents was -209,304.64[34]

数据四舍五入，查看更多财务数据>> 二、前10名无限售条件股东持股情况 一、主要会计数据和财务指标 | 报告期指标 | 2025年一季报 | 2024年一季报 | 本年比上年增减(%) | 2023年一季报 | | --- | --- | --- | --- | --- | | 基本每股收益（元） | 0.0800 | 0.0800 | 0 | 0.0700 | | 每股净资产（元） | 3.53 | 3.38 | 4.44 | 3.19 | | 每股公积金(元) | 0.94 | 0.94 | 0 | 0.93 | | 每股未分配利润(元) | 1.17 | 0.99 | 18.18 | 0.80 | | 每股经营现金流(元) | - | - | - | - | | 营业收入(亿元) | 16.11 | 17.14 | -6.01 | 17.26 | | 净利润(亿元) | 4.21 | 4.34 | -3 | 4.18 | | 净资产收益率(%) | 2.15 | 2.33 | -7.73 | 2.38 | | 名称 | 持有数量(万股) | 占总股本比例(%) | 增减情况(万股) | | --- | ...

Financial Performance - The net profit attributable to shareholders for the year 2024 is RMB 1,564,897,805.73, with a proposed cash dividend of RMB 0.85 per 10 shares, totaling RMB 474,930,020.00[4] - Operating revenue for 2024 was CNY 6,865,375,581.39, a decrease of 2.69% compared to CNY 7,054,883,834.36 in 2023[23] - Net profit attributable to shareholders for 2024 reached CNY 1,564,897,805.73, reflecting a growth of 2.20% from CNY 1,531,202,403.96 in 2023[23] - Basic earnings per share for 2024 was CNY 0.28, an increase of 3.70% compared to CNY 0.27 in 2023[24] - The total profit for 2024 was 190,025.69 million RMB, an increase of 0.91% year-on-year[72] - The company's gross profit for the year was CNY 261,531.74 million, a decrease of 0.98% year-on-year, with a gross profit margin of 38.09%, an increase of 0.65 percentage points[123] - The net profit for the year was CNY 157,459.02 million, a year-on-year increase of 0.65%, with a net profit margin of 22.94%, up by 0.76 percentage points[129] Cash Flow and Assets - The net cash flow from operating activities for 2024 was CNY 2,415,146,972.94, showing a slight increase of 0.89% from CNY 2,393,799,107.25 in 2023[23] - Cash and cash equivalents increased to CNY 4,280,764,000 in 2024 from CNY 2,838,023,000 in 2023[27] - The company's asset-liability ratio improved to 27.29% in 2024 from 30.88% in 2023[27] - The total assets at the end of 2024 were CNY 27,880,013,639.48, a decrease of 0.52% from CNY 28,026,106,959.77 at the end of 2023[23] Operational Highlights - The company achieved a total throughput of 414 million tons in 2024, with coal throughput at 209 million tons and metal ore throughput at 157 million tons, reflecting a year-on-year increase of 5.63%[43] - The coal throughput was 208.83 million tons, a decrease of 8.05 million tons or 3.71% from 216.88 million tons in 2023, primarily due to weak domestic demand and increased imports[51] - The metal ore throughput increased to 156.62 million tons, up by 24.44 million tons or 18.49% from 132.18 million tons in 2023, driven by enhanced global economic activity[52] - The container throughput reached 1,256,490 TEU, equivalent to 16.13 million tons, representing an increase of 161,125 TEU or 14.71% compared to 1,095,365 TEU in 2023[54] Governance and Compliance - The company has confirmed that there are no non-operational fund occupations by controlling shareholders or related parties[6] - The company has a strong governance structure with all board members present at the meeting[6] - The board of directors has ensured the authenticity, accuracy, and completeness of the annual report[7] - The company has established a comprehensive governance structure with six specialized committees under the board of directors to ensure effective decision-making[137] - The company has committed to maintaining the independence of its operations and protecting the rights of minority shareholders amid the integration of port resources[140] - The company has ensured compliance with relevant laws and regulations to avoid conflicts of interest and protect shareholder rights[141] Strategic Initiatives - The company focused on enhancing its core business and improving operational efficiency, particularly in coal and metal ore logistics services[44] - The company plans to focus on developing new cargo sources and fostering new business formats to enhance growth potential[46] - The company aims to accelerate the construction of a world-class dry bulk port, contributing to the development of maritime capabilities[46] - The company is committed to promoting smart, green, efficient, and safe port construction as part of its strategic planning[46] Research and Development - The total R&D expenditure accounts for 2.53% of the operating revenue, indicating a commitment to innovation[91] - The company has 887 R&D personnel, accounting for 10.23% of the total workforce[93] - In 2024, the company plans to implement 262 R&D projects, including significant initiatives for "smart port" construction[95] - Research and development investments increased by 18%, focusing on innovative technologies in supply chain management[152] Management and Human Resources - The total compensation for executives amounted to 1,079.93 million CNY, with a breakdown of 242.89 million CNY in basic salary and 326.83 million CNY in performance-related pay[146] - The average compensation for the board members and executives reflects a strategic focus on attracting and retaining top talent, with the highest individual compensation reaching 160.28 million CNY[146] - The company employed a total of 8,674 staff, with 7,142 in the parent company and 1,532 in major subsidiaries[194] - The company conducted training for 130,203 participants in 2024, achieving a 100% training coverage rate[196] Market and Economic Context - The macroeconomic environment in 2024 showed a GDP growth of 5.0%, with the total economic output reaching 134.9 trillion RMB, positioning China as a key driver of global economic growth[42] - The company anticipates stable business volume in the metal ore sector for 2025, supported by the ongoing development of the steel industry[117] - The company plans to optimize its service and explore new growth points in the general cargo business, benefiting from the expected increase in international trade volume[118] Future Outlook - The company provided guidance for the next fiscal year, projecting a revenue growth of 10% to 1.32 billion RMB[150] - The company has outlined a future outlook with a revenue target of 1.5 billion yuan for the next fiscal year, reflecting a 25% growth expectation[157] - Overall, the company remains optimistic about future growth, citing strong demand in key markets[150]

Investment Rating - The report maintains a "Recommendation" rating for the insurance industry, suggesting that the industry index is expected to rise more than 5% over the next 3-6 months compared to the benchmark index [22]. Core Insights - The insurance index fell by 4.77% this week, underperforming the broader market by 1.89 percentage points. Major insurance stocks also experienced declines, with notable drops from companies like AIA (-15.93%) and Taiping (-16.17%) [1]. - The insurance sector is seeing significant growth in the electric vehicle (EV) insurance market, with 31.05 million EVs insured in 2024, generating premium income of 140.9 billion yuan. This represents 15.4% of the total auto insurance premiums [4]. - The report highlights that the profitability of the auto insurance segment is crucial for the overall profitability of property insurance companies, with EV insurance becoming a competitive focus as penetration rates increase [5]. Summary by Sections Market Performance - The insurance index decreased by 4.77% this week, with major companies like Ping An and China Life also showing declines [1]. - The 10-year government bond yield is at 1.66%, down 6 basis points from the previous week [1]. Regulatory Developments - The China Banking and Insurance Regulatory Commission announced adjustments to the regulatory ratios for equity assets, increasing the upper limit for equity asset allocation and relaxing requirements for tax-deferred pension ratios [2]. - By the end of 2024, the first batch of pilot commercial pension accounts reached approximately 1.955 million, a nearly 230% increase from the end of 2023 [2]. Electric Vehicle Insurance Insights - The average premium for EV insurance in 2024 is approximately 4,538 yuan, which is a concern for potential customers due to high costs. Despite this, the segment is experiencing underwriting losses primarily due to high claims and repair costs [4]. - The report suggests that collaboration between insurers and automakers to enhance data models could improve pricing accuracy for EV insurance [4]. Investment Recommendations - The report notes that the recent market downturn due to tariff conflicts has led to a valuation correction in the insurance sector, presenting potential long-term investment opportunities [5]. - Current price-to-earnings (PE) and price-to-book (PB) ratios for major insurers are provided, with Ping An at a PE of 6.53 and a PB of 0.91, indicating a strong buy recommendation [10].

秦皇岛港股份有限公司 2024 年度独立董事述职报告 （赵金广） 各位股东： 作为秦皇岛港股份有限公司（以下简称"公司"）独立董事， 在 2024 年度任职期间，本人严格遵守《公司法》《上市公司治 理准则》《上市公司独立董事管理办法》等法律法规、监管规则 及《秦皇岛港股份有限公司章程》（以下简称"《公司章程》"）、 《秦皇岛港股份有限公司独立董事工作规则》等有关规定，按照 独立董事职责和权利，勤勉尽责，认真出席会议，积极维护包括 中小股东在内的全体股东和公司整体利益，较好地发挥了独立董 事作用。现将 2024 年度述职情况报告如下： 1 一、独立董事基本情况 1.个人基本情况 赵金广,男，1964 年 4 月出生，博士研究生，现任公司独立 非执行董事，河北师范大学国际文化交流学院教授、硕士生导师， 泰国格乐大学博士生导师。1987 年 7 月参加工作，1991 年 8 月 任河北师范大学学生处思想教育科科长兼德育教研室主任，1995 年 9 月任河北师范大学团委副书记，1996 年 12 月任河北师范大 学外事办公室副主任，2000 年 5 月任河北师范大学国际文化交 流学院副院长，2007 年 10 月任河 ...

Financial Performance - The net profit attributable to shareholders for the year 2024 is RMB 1,564,897,805.73[6] - The company's operating revenue for 2024 was CNY 6,865,375,581.39, a decrease of 2.69% compared to 2023[23] - Net profit attributable to shareholders for 2024 reached CNY 1,564,897,805.73, reflecting a growth of 2.20% year-over-year[23] - The basic earnings per share for 2024 increased to CNY 0.28, up 3.70% from CNY 0.27 in 2023[24] - The weighted average return on equity for 2024 was 8.29%, a decrease of 0.28 percentage points from 2023[24] - The net cash flow from operating activities for 2024 was CNY 2,415,146,972.94, showing a slight increase of 0.89% compared to the previous year[23] - Total assets at the end of 2024 were CNY 27,880,013,639.4, a decrease of 0.52% from the end of 2023[23] - The company's net assets attributable to shareholders increased by 4.92% to CNY 19,329,265,694.2 at the end of 2024[23] - The cash and cash equivalents at the end of 2024 amounted to CNY 4,280,764,000, significantly up from CNY 2,838,023,000 in 2023[26] - The company reported a net increase in cash and cash equivalents of CNY 58,058,000 for 2024[26] Dividend Distribution - The proposed cash dividend distribution is RMB 0.85 per 10 shares, totaling RMB 474,930,020.00[6] - The company has a cash dividend policy that mandates a minimum distribution of 30% of the annual net profit attributable to shareholders, provided there are no adverse impacts on operations[161] - Over the last three fiscal years, the cumulative cash dividend amount (including tax) reached RMB 1,335,391,468.00, with an average cash dividend payout ratio of 90.96%[170] - The cash dividend distribution will be completed by August 29, 2025, pending approval at the annual general meeting[166] - The company has not proposed any cash profit distribution plan despite being profitable, as the retained earnings are allocated for future investments[169] Risk Management - The report includes a risk statement regarding forward-looking statements and potential investment risks[7] - The company has described potential risks in the management discussion and analysis section of the report[9] - The company faced risks including the impact of clean energy expansion and increased competition in the coal market due to high import levels[98] - The company conducted a comprehensive risk management report for 2023, which was unanimously approved during the Risk Committee meeting[149] Governance and Compliance - The company has established a comprehensive governance structure with specialized committees to ensure efficient decision-making and compliance with regulations[116] - The company guarantees strict adherence to laws and regulations to protect the rights of minority shareholders and avoid conflicts of interest with its controlling shareholder[117] - The company reported no significant violations of laws or regulations by its management or board during the reporting period, ensuring compliance with governance standards[116] - The company has adopted a code of conduct for securities trading by directors and supervisors, ensuring compliance with regulations[190] - The company has maintained a standard unqualified opinion in its internal control audit report for the year[176] Operational Highlights - The company achieved a total cargo throughput of 414.00 million tons in 2024, an increase of 22.05 million tons or 5.63% compared to 2023[43] - Coal throughput reached 209 million tons, while metal ore throughput was 157 million tons, and container throughput was 1.26 million TEU[39] - The throughput at Qinhuangdao Port decreased by 1.86 million tons, a decline of 1.01%, primarily due to the impact of imported coal and production cuts[44] - The company’s market share in coal transportation in the Bohai Rim region increased, solidifying its position as a key hub[40] - The company is focusing on the construction of new projects such as grain corridors and bulk grain silos, which are expected to be completed and operational soon[41] Research and Development - The company’s research and development expenses increased by 12.74% to 173,671.63 million RMB, indicating a focus on innovation[64] - The total R&D expenditure for the period was 173,671,628.28 yuan, which is 2.53% of the operating revenue[72] - The company organized 151 innovation activities with 1,036 participants during the reporting period[73] - The company plans to implement 262 R&D projects in 2024, including significant projects for "smart port" construction[74] Leadership and Management Changes - The company appointed new executives in February and April 2023, including the executive director and party secretary[125] - The company has seen a series of leadership changes in its executive team throughout 2024[129] - The company continues to focus on strategic appointments to strengthen its management team[129] - The company appointed Sun Jinggang as Vice President in February 2024[129] - In April 2024, Hu Chaohui resigned from the position of Vice President due to work changes[129] Employee Engagement and Training - The company plans to implement an incentive program for exceeding throughput targets in 2024, aiming to enhance employee motivation and performance[152] - A total of 130,203 training sessions are planned for 2024, achieving a 100% employee training coverage rate[153] - The company established a performance evaluation system linking employee compensation to economic performance, promoting a merit-based pay structure[152] Financial Guidance and Future Outlook - Financial guidance for the upcoming quarters suggests a positive growth trajectory with specific revenue targets[125] - The management emphasized the importance of strategic initiatives to improve operational efficiency and profitability[125] - The company anticipates growth in its general cargo business driven by the gradual recovery of the global economy and increased international trade volume[95]

Financial Performance - The company's operating revenue for the year was RMB 6,865,375,581.39, a decrease of 2.69% year-on-year[3][9] - The net profit for the year was RMB 1,574,590,220.36, an increase of 0.65% year-on-year[4][9] - The net profit attributable to the parent company's shareholders was RMB 1,564,897,805.73, an increase of 2.20% year-on-year[5][9] - The company reported a total comprehensive income of RMB 1,452,859,419.80, down from RMB 1,579,895,205.46 in the previous year[10] - The gross profit for the year was 261,531.74 million yuan, with a gross profit margin of 38.09%, an increase of 0.65 percentage points year-on-year[85] - The company's net profit for the year was CNY 1,574.59 million, a year-on-year increase of 0.65%, with a net profit margin of 22.94%, up 0.76 percentage points[104] Assets and Liabilities - The total current assets increased to RMB 4,975,430,791.18 from RMB 3,517,035,038.25, reflecting a significant growth[7] - The total liabilities decreased to RMB 7,608,797,848.52 from RMB 8,653,998,785.00, indicating improved financial stability[8] - The total assets as of December 31, 2024, were RMB 27,880,013,639.48, slightly down from RMB 28,026,106,959.77[7][8] - The asset-liability ratio as of December 31, 2024, was 27.29%, calculated as total liabilities divided by total assets[114] Cash Flow and Investments - As of December 31, 2024, the total cash and cash equivalents amounted to RMB 4,280,764,065.06, an increase from RMB 2,838,023,456.57 in the previous year, representing a growth of approximately 50.7%[18] - The company’s cash deposits with Hebei Port Group Financial Co., Ltd. increased to RMB 3,660,253,006.23 from RMB 2,075,790,264.80, marking a rise of approximately 76.5%[18] - The company’s total investment income for 2024 was RMB 421,204,791.03, an increase of 35.3% from RMB 311,501,884.52 in 2023[72] Revenue and Costs - The operating cost for 2024 was RMB 4,250,058,180.95, compared to RMB 4,413,559,410.53 in 2023, reflecting a decrease of 3.69%[66] - The company's total operating cost for the year was 425,005.82 million yuan, a decrease of 3.70% year-on-year, mainly due to cost reduction measures implemented[84] Dividends and Profit Distribution - The company proposed a final dividend of RMB 0.85 per share, including tax[6] - The profit distribution plan for the year 2024 proposes a cash dividend of RMB 0.85 per 10 shares, totaling RMB 474,930,020.00 to be distributed to all shareholders[125] - The dividend payment is expected to be completed by August 29, 2025, pending approval at the 2024 annual general meeting[126] Research and Development - Research and development expenses for the year were RMB 173,671,628.28, up from RMB 154,045,515.83 in the previous year, indicating a focus on innovation[9] Credit and Receivables Management - The accounts receivable totalled RMB 99,616,254.39 as of December 31, 2024, up from RMB 75,573,726.30 a year earlier, indicating an increase of about 31.7%[22] - The company’s overdue accounts receivable remained low, with only RMB 893,306.48 classified as over three years old, indicating effective credit management[22] - The provision for bad debts for accounts aged over three years is 100%, amounting to RMB 893,306.48, indicating a conservative approach to long-term receivables[30] - The total bad debt provision ratio for the year is approximately 5.99% of the total accounts receivable[30] Operational Highlights - The total cargo throughput for the reporting period was 414.00 million tons, an increase of 22.05 million tons or 5.63% compared to the same period in 2023[86] - Coal throughput was 208.83 million tons, a decrease of 8.05 million tons or 3.71% year-on-year, attributed to weak domestic demand and competition from imported coal[90] - Metal ore throughput increased to 156.62 million tons, an increase of 24.44 million tons or 18.49% year-on-year, driven by increased demand from construction and manufacturing sectors[91] Corporate Governance - The company has complied with the Listing Rules and Corporate Governance Code during the reporting period[123] - The independent non-executive directors constitute more than one-third of the board, with one member possessing accounting qualifications and financial management experience[128] - The company has appointed Deloitte Touche Tohmatsu Certified Public Accountants as its domestic auditor for the financial statements[129]