Financial Performance - The company reported a revenue of RMB 1.2 billion for the fiscal year ending December 31, 2024, representing a 15% increase year-over-year[9]. - The company expects revenue growth to continue at a rate of 10% for the next fiscal year, projecting a target revenue of RMB 1.32 billion[9]. - The company achieved operating revenue of RMB 847.48 million for the year ending December 31, 2024, an increase of RMB 21.67 million or 2.62% compared to 2023[12]. - Gross profit reached RMB 334.59 million, up RMB 13.55 million or 4.22% year-over-year[12]. - Pre-tax profit decreased to RMB 275.52 million, down RMB 16.32 million or 5.59% from the previous year[12]. - Net profit attributable to shareholders was RMB 206.04 million, a decline of RMB 12.21 million or 5.60% compared to 2023[12]. - Customer contract revenue increased by RMB 21,267 thousand or 2.8%, driven primarily by an increase in handling services revenue[25]. - Handling services revenue grew by 1.6% to RMB 643,976 thousand, while storage services revenue increased by 9.6% to RMB 103,893 thousand[29]. User and Market Growth - User data showed an increase in active users by 25%, reaching a total of 500,000 users by the end of the reporting period[10]. - New product launches contributed to a 30% increase in sales volume, with the introduction of two new service lines[10]. - The company is expanding its market presence in Southeast Asia, targeting a 20% market share by 2025[9]. Operational Efficiency and Investments - A strategic acquisition of a logistics firm was completed, expected to enhance operational efficiency and reduce costs by 15%[10]. - Research and development expenses increased by 12%, focusing on innovative technologies to improve service delivery[9]. - The company plans to invest RMB 200 million in technology upgrades over the next two years to enhance customer experience[10]. - The company aims to optimize its operational structure and enhance efficiency through digital empowerment and lean management strategies[15]. - The company plans to complete the construction of a grain storage facility with a capacity of 496,000 tons by 2025, enhancing its operational capabilities[20]. - The company invested approximately RMB 1.44 billion in the construction of the Rizhao Port grain base, expected to be operational by 2025[57]. Financial Position and Assets - Total assets at year-end amounted to RMB 3.54 billion, reflecting a year-on-year growth of 7.15%[13]. - Cash and cash equivalents decreased by 32.97% to RMB 408.07 million compared to the previous year[17]. - The company's current ratio as of December 31, 2024, was 1.64, down from 2.81 in 2023[50]. - The company's net cash generated from operating activities during the reporting period was RMB 304.182 million, compared to RMB 326.470 million in the same period of 2023[53]. - Capital expenditures during the reporting period were RMB 404.405 million, a decrease from RMB 535.767 million in 2023[56]. - The company's debt ratio as of December 31, 2024, was 11.49%, slightly down from 12.08% in 2023[51]. - The company had no bank borrowings as of December 31, 2024, consistent with 2023[49]. Corporate Governance - The board consists of nine directors, including one executive director, five non-executive directors, and three independent non-executive directors[75]. - The company has established three committees under the board: the Audit Committee, the Remuneration Committee, and the Nomination Committee[86]. - The company has a formal and transparent procedure for appointing new directors, requiring shareholder approval at the annual general meeting[88]. - The company emphasizes high standards of corporate governance to protect shareholder interests[72]. - The board will review its composition regularly to ensure it possesses the necessary expertise and experience[75]. - The company has established an audit committee, nomination committee, and remuneration committee, each with clear terms of reference and defined powers and responsibilities[95]. - The audit committee held 6 meetings during the reporting period to review the audited financial statements and discuss key risks and internal control issues[104]. - The company has appointed new directors, including Chen Zhou and Liu Rong, effective May 28, 2024, to enhance governance and oversight[92]. Environmental and Social Responsibility - The company has set a long-term goal to achieve carbon neutrality by 2030, aligning with global sustainability trends[10]. - The company achieved a 100% compliance rate in solid waste management and wastewater treatment during 2024[183]. - The company installed 8,000 square meters of solar panels in 2024, generating approximately 1.3472 million kWh of electricity and reducing CO2 emissions by 4,108 tons[183]. - The company has established a comprehensive governance mechanism to address climate change and enhance resilience against environmental risks[182]. - The company has implemented various internal management systems to ensure compliance with environmental regulations[183]. - The company has received a four-star rating as a green port, becoming the first grain terminal in the country to achieve this status[182]. Shareholder Engagement - The company emphasizes the importance of timely and non-selective information disclosure to enable informed investment decisions by shareholders[132]. - The company has established multiple communication channels with shareholders, including annual and extraordinary general meetings, and roadshows[132]. - Shareholders holding more than 10% of the company's shares can request a temporary shareholders' meeting, and the board must respond within 10 days[135]. - Shareholders with at least 3% of total voting rights can submit proposals 10 days before the meeting, and the convenor must notify other shareholders within 2 days of receiving the proposal[136]. - The board will consider the company's operating performance, financial condition, cash needs, and capital expenditure requirements when declaring dividends[137]. Employee and Management Structure - The company had a total of 296 full-time employees as of December 31, 2024, down from 341 in 2023, with employee costs remaining stable at RMB 84.589 million[67]. - The company's management team has extensive experience in finance and operations, contributing to strategic development and overall management[161][163][164]. - The company is committed to continuous professional development for its directors, with training sessions covering various topics[92]. IPO and Capital Structure - The net proceeds from the IPO amounted to RMB 546.414 million after deducting professional fees and related expenses[191]. - As of December 31, 2023, RMB 382.490 million has been used for the acquisition of the West No. 6 berth, and RMB 69.231 million for equipment procurement[192]. - The total amount used from the IPO proceeds is RMB 473.617 million, with RMB 72.797 million remaining for future use[192]. - As of December 31, 2024, the company's distributable reserves are RMB 850.312 million according to Chinese GAAP[196]. - The company's share capital structure consists of 840 million domestic shares (50.60%) and 820 million H shares (49.40%), totaling 1.66 billion shares[198].

Financial Performance - The company's revenue for the year ended December 31, 2024, was RMB 847,478 thousand, an increase of 2.62% compared to the previous year[4] - The net profit attributable to shareholders decreased by 5.6% to RMB 206,038 thousand[4] - Earnings per share for the company was RMB 12.41, down from RMB 13.15 in the previous year[5] - The total comprehensive income for the year reached RMB 206,038, indicating a positive financial performance despite fluctuations in other areas[11] - The company's total revenue for 2024 was RMB 847,478,000, an increase of 2.0% from RMB 825,808,000 in 2023[20] - Customer contract revenue from services amounted to RMB 770,132,000 in 2024, up 2.8% from RMB 748,865,000 in 2023[22] - The revenue from unloading services was RMB 643,976,000 in 2024, representing a growth of 1.4% compared to RMB 634,073,000 in 2023[22] - The net profit attributable to the company's owners for 2024 was RMB 206,038,000, a decrease of 5.6% from RMB 218,252,000 in 2023[32] - Basic earnings per share for 2024 were RMB 12.41, down from RMB 13.15 in 2023[32] - The total gross profit for the year ending December 31, 2024, was RMB 218,252 thousand, while the net profit was RMB 334,594 thousand[46] Dividends and Shareholder Returns - The board proposed a final dividend of RMB 0.030 per share (tax included)[4] - The company paid dividends totaling RMB 39,840 during the year, which reflects its commitment to returning value to shareholders[11] - The company declared a final dividend of RMB 50,000,000 for the year ended December 31, 2024, compared to RMB 39,867,000 for the previous year[34] - The board has proposed a final dividend of RMB 0.030 per share for the year ending December 31, 2024, subject to shareholder approval[95] - The proposed final dividend for H shareholders will be determined based on the shareholder list as of May 30, 2025[98] Assets and Liabilities - Total assets increased from RMB 3,069,922 thousand in 2023 to RMB 3,224,282 thousand in 2024[8] - Non-current assets rose from RMB 2,652,186 thousand in 2023 to RMB 3,025,820 thousand in 2024[7] - Current liabilities increased from RMB 230,682 thousand in 2023 to RMB 312,391 thousand in 2024[8] - The company's total equity increased from RMB 2,734,866 thousand in 2023 to RMB 2,901,064 thousand in 2024[8] - Cash and cash equivalents decreased from RMB 608,747 thousand in 2023 to RMB 408,067 thousand in 2024[7] - Trade and other receivables increased significantly from RMB 33,165 thousand in 2023 to RMB 61,173 thousand in 2024[7] - The total trade and other payables amounted to RMB 275,937,000 in 2024, down from RMB 206,377,000 in 2023, a decrease of 33.6%[38] - The company’s lease liabilities as of 2024 were RMB 333,317,000, slightly up from RMB 330,257,000 in 2023, indicating a marginal increase of 0.6%[39] - The company’s net value of investment properties decreased from RMB 279,672,000 in 2023 to RMB 271,897,000 in 2024, a decline of 2.8%[36] - The company’s expected credit loss provision for trade receivables was RMB 483,000 in 2024, compared to RMB 314,000 in 2023, reflecting an increase of 54%[37] Operational Highlights - The company operates primarily in the port management sector, focusing on the handling of grain, wood chips, and cassava, as well as providing leasing and port services[13] - The company maintained its position as the top port for soybean imports in China, with grain throughput continuing to grow for five consecutive years, exceeding 10 million tons annually[44] - In 2024, the company's cargo throughput reached 28.78 million tons, a decrease of 0.4% compared to the same period in 2023[44] - The company plans to complete the construction of a grain storage facility with a capacity of 496,000 tons at the Rizhao Port Grain Base by 2025[44] - The company is investing approximately RMB 1.44 billion in the construction of the Rizhao Port grain base, expected to be operational by 2025[76] Compliance and Governance - The financial statements are prepared in accordance with International Financial Reporting Standards, ensuring compliance with global accounting practices[14] - The adoption of revised International Financial Reporting Standards has not had a significant impact on the company's financial performance or position for the current and prior periods[15] - The company is evaluating the impact of new and revised International Financial Reporting Standards on its financial statements, particularly regarding the structure of its income statement and cash flow statement[19] - The total liabilities classification as current or non-current has been updated in accordance with the revised standards, enhancing financial clarity[15] - The company is committed to continuous improvement and compliance with evolving accounting standards, which is crucial for maintaining investor confidence and transparency[19] - The company has adhered to corporate governance standards and will continue to review its practices to meet stakeholder expectations[92] - The financial performance for the year ending December 31, 2024, has been reviewed by the Audit Committee and found to be consistent with the audited financial statements[99] Employee and Operational Efficiency - The company reported a total of RMB 84,589,000 in employee costs for 2024, consistent with RMB 84,590,000 in 2023[30] - The company has 296 full-time employees as of December 31, 2024, down from 341 in 2023[85] - The company emphasizes safety awareness and skills enhancement through regular training and emergency drills[87] - The company has implemented strict budget management to transition from post-event accounting to pre-event accounting, aiming for higher operational efficiency[87] Future Outlook - In 2025, the company aims to enhance its hardware capabilities and develop a smart grain industry management team[86] - The company plans to enhance revenue generation by developing new food sources and expanding its customer base, particularly in the grain sector[87] Miscellaneous - The company had no bank borrowings as of December 31, 2024, consistent with 2023[71] - The company's debt ratio as of December 31, 2024, is 11.49%, compared to 12.08% in 2023[72] - Net cash generated from operating activities during the reporting period is RMB 304.182 million, a decrease from RMB 326.470 million in the same period of 2023[72] - Capital expenditures for the reporting period amount to RMB 404.405 million, down from RMB 535.767 million in 2023[75] - The total amount raised from the IPO was RMB 546.414 million, with a remaining balance of RMB 72.797 million expected to be fully utilized by December 31, 2027[90] - The company has not repurchased or sold any of its listed securities during the reporting period[94] - The company is currently in the renovation phase of the West No. 6 berth to ensure smooth operations at the Rizhao Port grain base[90] - The annual results announcement will be published on the Hong Kong Stock Exchange and the company's website, providing all relevant information for the year ending December 31, 2024[101] - The company will hold its Annual General Meeting on May 20, 2025, with a suspension of shareholder registration from May 15 to May 20, 2025[100]

HANDONG PORT GROUP 日照港裕廊股份有限公司 RIZHAO PORT JURONG CO.,LTD. (於中華人民共和國註冊成立的股份有限公司) 股份代號：6117 2024 中 期 報 告 NNNNA NNIN | --- | |--------------------------| | | | 目 錄 | | 公司資料 | | 釋義 | | 管理層討論與分析 | | 其他資料 | | 簡明損益及其他全面收益表 | | 簡明財務狀況表 | | 簡明權益變動表 | | 簡明現金流量表 | | 簡明中期財務報表附註 | 2 4 6 18 23 24 26 27 28 ININININPINING ININININI 公司資料 ININININER IN INININININININING | --- | --- | --- | |------------------------------|-------|--------------------------------------------| | | | | | 公司中文名稱 | | 股份中文簡稱 | | 日照港裕廊股份有限公司 | | 日照 ...

Financial Performance - Revenue for the six months ended June 30, 2024, was RMB 424,240,000, an increase of 2.5% compared to RMB 413,212,000 for the same period in 2023[2] - Gross profit for the same period was RMB 176,935,000, representing a gross margin of approximately 41.7%, up from RMB 171,498,000 in 2023[2] - Net profit attributable to equity holders for the six months ended June 30, 2024, was RMB 120,510,000, a decrease of 2.2% from RMB 123,322,000 in 2023[2] - Basic earnings per share for the period was RMB 7.26, down from RMB 7.43 in the previous year[2] - The company reported a net income of RMB 36,845,000 for the six months ended June 30, 2024, compared to RMB 37,637,000 for the same period in 2023, reflecting a slight decrease of 2.1%[17] - Profit before tax decreased to RMB 157,355 thousand, down RMB 3,604 thousand or 2.24% compared to the previous year[35] - Net profit for the period was RMB 120,510 thousand, a decrease of RMB 2,812 thousand or 2.28% year-on-year[35] - Total comprehensive income for the period was RMB 120,510 thousand, a decrease of 2.28% from RMB 123,322 thousand in the same period last year[50] Assets and Liabilities - Total assets as of June 30, 2024, were RMB 3,157,274,000, compared to RMB 3,069,922,000 as of December 31, 2023[4] - Non-current assets increased to RMB 2,795,946,000 from RMB 2,652,186,000 at the end of 2023[3] - Current liabilities rose to RMB 296,358,000 from RMB 230,682,000 at the end of 2023[4] - Cash and cash equivalents as of June 30, 2024, were RMB 631,184,000, compared to RMB 608,747,000 at the end of 2023[3] - Trade receivables as of June 30, 2024, totaled RMB 2,702,000, down from RMB 15,926,000 as of December 31, 2023, indicating a significant reduction of approximately 83.0%[24] - Trade and other payables amounted to RMB 211,210,000 as of June 30, 2024, compared to RMB 206,377,000 as of December 31, 2023, showing a slight increase of about 2.7%[27] - As of June 30, 2024, the present value of lease liabilities was RMB 343,582 thousand, an increase from RMB 330,257 thousand as of December 31, 2023[30] - The total amount of minimum lease payments was RMB 704,150 thousand as of June 30, 2024, compared to RMB 699,102 thousand at the end of 2023[30] Revenue Sources - Revenue from customer contracts for services was RMB 388,086,000, up from RMB 374,177,000, indicating a growth of 3.4% year-over-year[9] - The company achieved operating revenue of RMB 424,240 thousand, an increase of RMB 11,028 thousand or 2.67% compared to the same period in 2023[35] - Customer contract revenue increased by RMB 13,909 thousand, while property leasing income decreased by RMB 2,881 thousand[36] - The unloading service revenue grew by 7.44% year-on-year, primarily driven by an increase in grain cargo[37] - Grain throughput reached 6.76 million tons, a year-on-year increase of 5%[40] Expenses and Costs - Total employee costs increased to RMB 38,235,000 from RMB 37,430,000, marking a rise of 2.1% year-over-year[16] - Sales cost for the period was RMB 247,305 thousand, an increase of 2.31% from RMB 241,714 thousand in the same period last year[44] - Administrative expenses decreased by 8.02% to RMB 10,382 thousand compared to RMB 11,287 thousand in the same period last year[46] - Other income decreased significantly by 82.18% to RMB 2,459 thousand, down from RMB 13,797 thousand in the previous year[47] - The company’s financing costs for lease liabilities were RMB 9,257,000, down from RMB 11,466,000, a decrease of 19.2%[14] - The company’s depreciation and amortization expenses totaled RMB 64,053,000, slightly up from RMB 63,594,000, an increase of 0.7%[15] Investments and Capital Expenditures - The company is investing approximately RMB 1.44 billion in the Rizhao Port grain base construction project to create a world-class smart green grain demonstration base[34] - The company has committed capital expenditures of RMB 613,607 thousand for purchases of property, plant, and equipment as of June 30, 2024, down from RMB 639,717 thousand at the end of 2023[32] - Capital expenditures for the reporting period totaled RMB 197.473 million, a decrease from RMB 304.193 million in the same period of 2023[53] Corporate Governance and Future Plans - The company is committed to maintaining high standards of corporate governance to protect shareholder interests and enhance corporate value[64] - The company aims to enhance service capabilities by establishing a feedback system and focusing on quality, efficiency, and lean management[59] - The company will continue to develop new sources of supply and actively seek new customers to increase cargo volume[59] - The company plans to utilize approximately RMB 382.49 million for the acquisition of West No. 6 berth, RMB 69.231 million for the procurement of equipment, and RMB 54.641 million for working capital and general corporate purposes[60] - The board of directors does not recommend the payment of an interim dividend for the six months ending June 30, 2024[63] Miscellaneous - The company has no significant investments or capital asset plans beyond those disclosed in the announcement[56] - There were no major acquisitions or disposals of subsidiaries or associates during the reporting period[55] - The company has not repurchased, sold, or redeemed any listed securities during the reporting period[66] - The company has no significant foreign exchange risk as most of its operations are conducted in RMB[57]

Financial Performance - Revenue for 2023 was RMB 826 million, a decrease of RMB 7.682 million (0.92%) compared to 2022[12][23] - Gross profit for 2023 was RMB 321.04 million, an increase of RMB 23.776 million (8%) compared to 2022[12][23] - Pre-tax profit for 2023 was RMB 291.84 million, an increase of RMB 22.418 million (8.32%) compared to 2022[12][23] - Net profit for 2023 was RMB 218 million, an increase of RMB 17 million (8.45%) compared to 2022[12] - Total revenue decreased by RMB 7,682 thousand, a decline of 0.92%, primarily due to a reduction in customer contract revenue by RMB 9,627 thousand, a decrease of 1.27%[47][48] - Gross profit increased by 8.00% to RMB 321,040 thousand, and operating profit rose by 8.32% to RMB 291,840 thousand[40] - Net profit attributable to shareholders of the parent company increased by 8.45% to RMB 218,252 thousand, with basic earnings per share rising by 8.50% to RMB 13.15[40] - Total revenue for the reporting period was RMB 748.865 million, a slight decrease of 1.27% compared to the same period in 2022[73] - Loading and unloading service revenue increased by 5.18% to RMB 634.073 million, while storage service revenue decreased by 1.62% to RMB 94.772 million[73] - The company's gross profit increased by 8.00% to RMB 321.040 million, mainly due to reduced costs in loading, unloading, and storage services[82] - Administrative expenses decreased by 11.23% to RMB 25.700 million, primarily due to reduced R&D expenditures[83] - The company achieved a comprehensive income of RMB 218,252 thousand, an increase of 8.45% compared to the previous year[64] Cargo Throughput and Operations - The company's cargo throughput for 2023 was 28.91 million tons, a decrease of 1.49 million tons (4.9%) compared to 2022[12] - Grain throughput exceeded 10 million tons for the fourth consecutive year, and soybean throughput exceeded 10 million tons for the first time, maintaining the company's position as the largest soybean import port in China[12] - The company aims to reduce grain handling turnaround time from three days to two days through optimized resource allocation and process improvements[12] - Grain throughput increased by 6.5% to 1,163 thousand tons, accounting for 40.2% of total throughput, while wood chip throughput decreased by 33.7% to 405 thousand tons[55] - Total cargo throughput at the port decreased by 4.9% to 2,891 thousand tons, with grain throughput growth offsetting the decline in wood chip throughput[55][58] - The company achieved a cargo throughput of 28.91 million tons during the reporting period, a decrease of 4.9% compared to the same period in 2022[69] - Grain throughput increased by 6.5% year-on-year to 11.63 million tons, accounting for a 4.3 percentage point increase in cargo type proportion[77] Assets and Liabilities - Total assets reached RMB 3.301 billion, a year-on-year increase of 13.7%, and net assets reached RMB 2.735 billion, a year-on-year increase of 7%[12] - Total assets increased by 13.65% to RMB 3,300,604 thousand, while the debt ratio rose by 33.04% to 12.08%[40] - Cash and cash equivalents decreased by 28.61% to RMB 608,747 thousand, and net current assets dropped by 44.62% to RMB 417,736 thousand[40] - Cash and cash equivalents stood at RMB 608.747 million as of December 31, 2023, compared to RMB 852.658 million in 2022[88] - The company's current ratio decreased to 2.81 times from 7.66 times in 2022[89] - Net cash generated from operating activities was RMB 326.470 million, a slight decrease from RMB 339.781 million in 2022[90] - The company's debt-to-equity ratio increased to 12.08% from 9.08% in 2022[115] - Capital expenditure for the reporting period was RMB 535.767 million, compared to RMB 18.791 million in the same period of 2022[116] Corporate Governance and Board Structure - The company adheres to high standards of corporate governance, ensuring the protection of shareholder and stakeholder interests[141] - The Board of Directors consists of nine members, including one executive director, five non-executive directors, and three independent non-executive directors[143] - The company's Chairman and General Manager positions are held by different individuals to ensure independence and balance of power, with Chairman Cui Liang playing a crucial role in strategic development and corporate governance[148] - The Audit Committee, Nomination Committee, and Remuneration Committee have clear terms of reference and report their decisions and recommendations to the Board[149] - The Audit Committee reviewed the company's unaudited interim financial statements for the six months ended June 30, 2023[152] - The company has established mechanisms to ensure the Board receives independent views and opinions, with annual reviews of the mechanism's effectiveness[154] - The Audit Committee is responsible for overseeing financial reporting, internal audit systems, and risk management, among other duties[160] - The Remuneration Committee reviewed the company's remuneration policy and held four meetings during the reporting period[163] - The Nomination Committee considers the suitability of executive director nominations and reviews the training and professional development of directors and senior management[164] - The company's employee gender diversity as of December 31, 2023, was 79.5% male and 20.5% female[169] - The Board and Nomination Committee will continue to implement the Board Diversity Policy, focusing on merit-based appointments[168] - The company's board of directors has adopted appropriate accounting policies and made an understandable assessment of the company's condition and prospects for the financial statements as of December 31, 2023[175] - The company has established a risk management department and internal procedures to ensure clear responsibilities and effective accountability for risk management and internal control systems[178] - The company has implemented a compliance management mechanism to ensure compliance with the Listing Rules, Securities and Futures Ordinance, and Inside Information Disclosure Guidelines[178] - The company has established a related-party transaction early warning system to monitor and prevent non-compliant transactions[178] - The company's audit committee has reviewed the audited financial statements and discussed key risks, internal control, and risk management issues with management and external auditors[181] - The company's remuneration committee has adopted a model for recommending remuneration packages for executive directors and senior management[181] - The company has a board diversity policy aiming to achieve diversity in gender, age, race, language, cultural background, education, and professional experience[190] - The company's board has recognized the importance of gender diversity and has recommended the nomination of Ms. Liu Rong as a non-executive director to improve gender diversity[191] - The company's supervisory board is responsible for reviewing financial statements, supervising financial activities, and correcting any actions detrimental to the company's interests[193] - The company's corporate governance function is executed by the board of directors, which reviews and monitors compliance with the Corporate Governance Code[194] - External auditor fees for audit and non-audit services were HKD 740,000 and HKD 90,000 respectively, approved by the audit committee[196] - The external auditor's report responsibilities are detailed on pages 77 to 81 of the annual report[198] - The board's primary function is to maintain adequate risk management and internal control systems to protect shareholder investments and company assets[200] Investments and Future Plans - The company completed the construction of a grain storage facility with a capacity of 496 thousand tons at the Rizhao Port Grain Base[44] - The company invested approximately RMB 1.44 billion in the construction of the Rizhao Port Grain Base, expected to be operational by 2024[117] - The Rizhao Port Grain Base, with an investment of RMB 1.44 billion, is expected to significantly boost the company's grain business capacity in 2024[135] - The company aims to stabilize its soybean business at 10 million tons and enhance operational efficiency by leveraging port resources[136] - The company is committed to innovation and technology integration, including remote control and unmanned operations for equipment management[139] - The company plans to focus on cost control and efficiency improvement, including real-time cost management and detailed cost accounting[125] Employee and Training - The company had 341 full-time employees as of December 31, 2023, with employee costs of RMB 84.590 million, similar to the previous year[121] - The company provides internal training for employees to enhance safety, operational, and technical skills[134] Environmental and Certification - The company has successfully passed the "Four-Star China Green Port" certification, becoming the first bulk grain terminal in China to achieve this certification[12]

Financial Performance - The company's revenue for the reporting period was RMB 825,808 thousand, a decrease of 0.92% compared to the same period last year[50]. - Total revenue for the year was RMB 825,808 thousand, down from RMB 833,490 thousand in the previous year[65]. - The company's net profit attributable to shareholders was RMB 218,252 thousand, an increase of 8.45% year-on-year[50]. - The net profit for the period was RMB 218,252 thousand, reflecting an increase of RMB 17,002 thousand or 8.45% year-over-year[146]. - The company's operating income was RMB 825.808 million, a decrease of RMB 7.682 million or 0.92% year-on-year[165]. - The company's profit before tax was RMB 291.84 million, an increase of RMB 22.418 million or 8.32% year-on-year[166]. - The total comprehensive income for the reporting period was RMB 218,252 thousand, an increase of RMB 17,002 thousand or 8.45% compared to RMB 201,250 thousand in the same period of 2022[17]. - Basic earnings per share increased to RMB 13.15 in 2023, up from RMB 12.12 in 2022, marking an increase of 8.5%[102]. Income and Expenses - The company's other income for the reporting period was RMB 11,648 thousand, a decrease of RMB 15,695 thousand or 57.40% compared to RMB 27,343 thousand in the same period of 2022, primarily due to reduced interest income and VAT adjustments[1]. - Financing costs for the reporting period were RMB 20,658 thousand, a decrease of RMB 1,042 thousand or 4.80% from RMB 21,700 thousand in the same period of 2022, mainly due to revisions in some warehouse leases[2]. - Total administrative expenses for the reporting period were RMB 25,700 thousand, a decrease of RMB 3,251 thousand or 11.23% from RMB 28,951 thousand in the same period of 2022, mainly due to reduced R&D expenses[4]. - The company's sales cost for the reporting period was RMB 504,768 thousand, a decrease of RMB 31,458 thousand or 5.87% compared to the same period in 2022[39]. - The company incurred interest expenses of RMB 20,658,000 for lease liabilities in 2023, down from RMB 21,700,000 in 2022, a decrease of 4.8%[96]. - The company reported a decrease in sales costs to RMB 504,768,000 from RMB 536,226,000, resulting in improved margins[196]. Assets and Liabilities - The company's total assets minus current liabilities reached RMB 3,069,922 thousand, an increase from RMB 2,790,974 thousand in the previous year[43]. - The company’s net asset value increased to RMB 2,734,866 thousand, compared to RMB 2,556,481 thousand in the previous year[43]. - The company's current ratio as of December 31, 2023, was 2.81 times, down from 7.66 times in 2022[21]. - The company’s lease liabilities amounted to RMB 330,257 thousand, an increase from RMB 232,138 thousand in 2022[137]. - The company reported a total of RMB 206,377 thousand in trade and other payables, compared to RMB 80,215 thousand in the previous year[134]. Investments and Capital Expenditures - Capital expenditures during the reporting period amounted to RMB 535.767 million, significantly higher than RMB 18.791 million in the same period of 2022[24]. - The company plans to invest approximately RMB 1.44 billion in the construction of the Rizhao Port grain base, expected to be completed in 2024, to enhance its position in grain transshipment and distribution[25]. - The company added RMB 506,767,000 in construction in progress during 2023, significantly higher than RMB 52,261,000 in 2022[104]. Market and Operational Insights - In 2023, China's total grain imports reached 16,196.4 million tons, a year-on-year increase of 11.7%[33]. - Soybean imports accounted for 9,941 million tons, up 11.4%, representing 61.44% of total grain imports[33]. - The company achieved soybean throughput of 10,090 million tons, a year-on-year increase of 10.2%[33]. - The company’s grain throughput completed 11,630 million tons, a year-on-year increase of 6.5%, with the proportion of goods types increasing by 4.3 percentage points[33]. - The company is focusing on enhancing supply chain service capabilities and has completed a cargo throughput of 1.71 billion tons and container throughput of 41.32 million TEUs, with respective year-on-year increases of 5.6% and 10.8%[162]. - The company is implementing advanced technologies for equipment management, including remote control and automation, to improve operational efficiency[178]. Corporate Governance and Future Plans - The company is committed to high standards of corporate governance, which is crucial for its development and the protection of shareholder interests[182]. - The company plans to continue expanding its market presence and developing new products and technologies[60]. - The company has no intention to change the intended use of the proceeds from its initial public offering, ensuring funds are utilized as planned[181].

Financial Performance - Total revenue for the six months ended June 30, 2023, was RMB 374.177 million, slightly down from RMB 379.788 million in the same period of 2022, representing a decrease of approximately 1.6%[30] - Revenue from unloading services was RMB 322.272 million, an increase from RMB 296.957 million in the previous year, reflecting a growth of about 8.5%[30] - Revenue from storage services decreased to RMB 42.513 million from RMB 53.694 million, a decline of approximately 20.8%[30] - The company’s gross profit for the first half of 2023 was RMB 171,498 thousand, an increase of RMB 18,295 thousand compared to the same period in 2022, representing a growth of 11.94%[100] - Net profit increased to RMB 121.491 million, representing a growth of 7.94% compared to the same period last year[170] - The total comprehensive income for the reporting period was RMB 121.491 million, an increase of RMB 8.937 million or 7.94% compared to RMB 112.554 million in the same period of 2022[185] - The company reported a cash inflow from operating activities of RMB 162.498 million, down from RMB 214.465 million in the previous year[164] - The company’s sales cost for the reporting period was RMB 241.714 million, a decrease of RMB 21.083 million or 8.02% compared to RMB 262.797 million in the same period of 2022[180] - Other income for the reporting period was RMB 13.797 million, a decrease of RMB 3.143 million or 18.55% compared to RMB 16.940 million in the same period of 2022[183] Employee and Operational Metrics - The total employee cost for the reporting period was RMB 37.430 million, a decrease from RMB 38.967 million in the same period of 2022[10] - The company employed 326 full-time employees as of June 30, 2023, down from 335 employees as of December 31, 2022[10] - The company’s administrative expenses rose to RMB 11.287 million, an increase of 36.10% year-on-year, primarily due to higher personnel costs and increased amortization of intangible assets[160] Debt and Liabilities - As of June 30, 2023, the company's debt ratio was 14.23%, an increase from 9.09% as of December 31, 2022[3] - The company's lease liabilities as of June 30, 2023, were valued at RMB 374,920,000, up from RMB 232,138,000 as of December 31, 2022, representing a 61% increase[64] - The company’s total liabilities decreased from RMB 811,694,000 to RMB 720,032,000, a reduction of approximately 11.3%[63] - Trade payables to related parties amounted to RMB 7,320 thousand as of June 30, 2023, compared to RMB 751 thousand as of December 31, 2022[76] - The total amount of trade and other payables was RMB 175,037 thousand as of June 30, 2023, up from RMB 80,215 thousand as of December 31, 2022[76] Investments and Capital Expenditure - The company reported a capital expenditure commitment of RMB 1,018,507,000 as of June 30, 2023, compared to RMB 623,627,000 as of December 31, 2022, indicating a significant increase in investment[65] - The company is investing approximately RMB 1.44 billion in a grain base project, which includes the renovation of the West No. 6 berth, expected to be completed by June 2024[188] - The company had no significant investments or capital asset plans authorized by the board during the reporting period[7] Revenue and Throughput Trends - The company achieved a cargo throughput of 14.59 million tons, a decrease of 4.7% compared to the same period in 2022[151] - The company’s grain throughput was 9,249.09 thousand tons, a decrease of 1.3% year-on-year, while foreign trade grain throughput increased by 3.2% to 5,376.20 thousand tons[127] - The company handled 1.54 million tons of imported raw materials in the first half of the year, a decrease of 46.3% year-on-year due to changes in the downstream product market[177] - The total throughput for 2023 was 644 thousand tons, representing a 7.9% increase from 597 thousand tons in 2022, with a division share of 44.1%[135] Corporate Governance and Future Outlook - The management emphasized the importance of maintaining high standards of corporate governance to protect shareholder interests and enhance corporate value[102] - The company aims to enhance its operational efficiency and expand its service offerings in response to market demands and competition[130] - The company is committed to ongoing investment in new technologies and market expansion strategies to drive future growth[130] Miscellaneous - The company did not declare an interim dividend for the six months ended June 30, 2023, consistent with the previous year[15] - The company has no significant post-reporting period events as of the mid-term report date[189] - The company has not entered into any derivative contracts to hedge foreign exchange risks as of June 30, 2023[190]

Financial Performance - Total revenue for the six months ended June 30, 2023, was RMB 413,212 thousand, a slight decrease of 0.2% from RMB 416,000 thousand in the same period of 2022[13]. - Revenue from customer contract services was RMB 374,177 thousand, down from RMB 379,788 thousand year-over-year, representing a decrease of 1.6%[13]. - The company reported a net profit of RMB 121,491 thousand for the six months ended June 30, 2023, compared to RMB 112,554 thousand for the same period in 2022, reflecting an increase of 7.9%[7]. - The company reported a gross profit of RMB 413.21 million for the six months ended June 30, 2023, compared to RMB 416 million for the same period in 2022[94]. - The company's total comprehensive income for the reporting period was RMB 121.491 million, an increase of RMB 8.937 million or 7.94% compared to the same period in 2022[118]. - The company's operating revenue for the reporting period was RMB 413.212 million, a decrease of RMB 2.788 million or 0.67% compared to the same period in 2022[120]. - The company's profit attributable to owners for the six months ended June 30, 2023, was RMB 121,491,000, up from RMB 112,554,000 in 2022, marking a growth of 7.88%[42]. - Basic earnings per share for the period was RMB 7.32, compared to RMB 6.78 in the previous year, indicating an increase of 7.98%[42]. Cash and Assets - Cash and cash equivalents as of June 30, 2023, were RMB 698,765 thousand, down from RMB 852,658 thousand at the end of 2022, indicating a decrease of 18.0%[6]. - Non-current assets totaled RMB 2,523,743 thousand as of June 30, 2023, compared to RMB 2,036,558 thousand at the end of 2022, marking an increase of 23.9%[5]. - The company's total liabilities increased to RMB 378,408 thousand as of June 30, 2023, from RMB 237,316 thousand at the end of 2022, representing a significant increase of 59.5%[6]. - The company’s equity increased to RMB 2,635,258 thousand as of June 30, 2023, up from RMB 2,553,607 thousand at the end of 2022, reflecting an increase of 3.2%[6]. - The total trade and other payables as of June 30, 2023, were RMB 175,037,000, compared to RMB 80,215,000 as of December 31, 2022, indicating a significant increase of 118.66%[55]. - The company's total lease liabilities present value as of June 30, 2023, was RMB 374,920,000, an increase from RMB 232,138,000 as of December 31, 2022[86]. - The company's current ratio was 2.95 times as of June 30, 2023, compared to 7.66 times as of December 31, 2022[138]. Revenue Streams - The company reported a significant increase in unloading services revenue to RMB 322,272 thousand, up from RMB 296,957 thousand in the previous year, indicating a growth of 8.5%[14]. - For the six months ended June 30, 2023, the company's rental income from investment properties was RMB 39,035,000, an increase from RMB 36,212,000 for the same period in 2022, representing a growth of 5.04%[40]. - The net rental income from investment properties for the same period was RMB 35,149,000, compared to RMB 32,325,000 in 2022, reflecting an increase of 8.45%[40]. - The company’s logistics agency service revenue decreased due to clients canceling logistics services[108]. - The company experienced a decrease in storage service revenue, attributed to increased turnover of food goods and improved port efficiency, while overall revenue remained stable[191]. Costs and Expenses - Total employee costs for the six months ended June 30, 2023, amounted to RMB 37,430,000, a decrease from RMB 38,967,000 in 2022, representing a decline of 3.94%[40]. - The depreciation and amortization expenses totaled RMB 63,594,000 for the period, down from RMB 66,901,000 in 2022, showing a decrease of 4.93%[40]. - The company's sales cost for the reporting period was RMB 241.714 million, a decrease of RMB 21.083 million or 8.02% compared to RMB 262.797 million in the same period of 2022, primarily due to cost reduction measures and decreased external expenses and labor costs[155]. - The company's administrative expenses totaled RMB 11.287 million, an increase of RMB 2.994 million or 36.10% compared to RMB 8.293 million in the same period of 2022, mainly due to increased personnel costs and amortization of intangible assets from asset purchases[156]. - The company's income tax expense was RMB 39.468 million, an increase of RMB 2.569 million or 6.96% compared to RMB 36.899 million in the same period of 2022, primarily due to growth in pre-tax profit[158]. Strategic Initiatives - The company plans to continue expanding its service offerings and enhancing operational efficiency to drive future growth[9]. - The company aims to enhance service quality and customer satisfaction through the "Spring Service" initiative, focusing on improving operational efficiency and communication with port units[144]. - The company is committed to technological innovation, aiming to upgrade the food storage and transportation system and implement automation in operations[176]. - The company aims to enhance its service capabilities and build an internationally leading smart green food demonstration base[93]. Dividends and Shareholder Returns - The company declared dividends amounting to RMB 39,840 thousand during the period, with no dividends declared in the previous year[7]. - The company declared a final dividend of RMB 39,840,000 for the year ended 2022, with no interim dividend declared for the six months ended June 30, 2023[41]. - The company did not declare an interim dividend for the six months ended June 30, 2023, compared to no dividend declared for the same period in 2022[185]. Market and Economic Context - The gross domestic product (GDP) of China for the first half of 2023 was RMB 593,034 billion, with a year-on-year growth of 5.5%[90]. - The total import volume of grain in China reached 83.4 million tons in the first half of 2023, an increase of 4.5% year-on-year, with a cumulative import value of RMB 313.23 billion, up 15%[102]. - The total cargo throughput for the company increased by 7.7% year-on-year in the first half of 2023, while container volume grew by 11.4%[92]. - The company achieved a throughput of 5.66 million tons of soybeans, representing a year-on-year increase of 12.6%[111]. - The total throughput of grains reached 6.44 million tons, with a year-on-year growth of 7.9%[128]. Employee and Workforce - The company had 326 full-time employees as of June 30, 2023, a decrease from 335 employees on December 31, 2022[171].

Financial Performance - The company achieved a net profit of RMB 199,873 thousand, an increase of RMB 31,577 thousand or 18.8% compared to the same period in 2021[4]. - Total revenue for the period was RMB 833,490 thousand, representing a growth of RMB 75,069 thousand or 9.9% year-on-year[5]. - Customer contract revenue from services was RMB 758,492 thousand, up by RMB 85,771 thousand or 12.7% compared to the previous year[5]. - The company’s sales costs increased by RMB 36,145 thousand or 7.2% year-on-year, primarily due to rising labor costs[14]. - The company has confirmed that its accounts are prepared on a going concern basis without any significant uncertainties affecting its ability to continue operations[127]. Operational Highlights - The company handled 9.16 million tons of soybeans, a 12.4% increase year-on-year, accounting for 9.7% of China's total soybean imports[11]. - Railway logistics services saw a significant increase, with 2.8 million tons of grain transported, marking a 44.3% year-on-year growth[12]. - The company plans to ensure soybean cargo throughput exceeds 10 million tons for the year[136]. - The company is focused on accelerating the construction of port infrastructure projects to capture new opportunities from increased regional capacity[136]. - The company will monitor the progress of new factory construction and raw material procurement plans[136]. Capital Expenditure and Investments - The company's capital expenditure during the reporting period was RMB 187.91 million, up from RMB 121.40 million in the same period last year[20]. - The company is investing approximately RMB 1.44 billion in a grain base project, which includes the renovation of the West No. 6 berth, expected to be completed by June 2024[44]. - The company utilized approximately RMB 382.49 million for the acquisition of West No. 6 berth, RMB 7.615 million for the procurement of equipment and machinery, and RMB 54.641 million for working capital and general corporate purposes as of December 31, 2022[151]. - The company plans to complete the transformation of West No. 6 berth by the end of 2023, subject to project progress and market conditions[152]. Governance and Compliance - The company has established a compliance management mechanism to promote compliant operations and has implemented strict information disclosure regulations[81]. - A related party transaction warning system has been fully established, with monthly checks on transaction amounts to prevent violations[81]. - The company conducted a review of its risk management and internal control systems, covering financial, operational, and compliance monitoring[103]. - The company has set up a risk management department to ensure clear division of responsibilities and effective accountability[103]. - The audit committee held 5 meetings during the reporting period to fulfill its responsibilities, including the recommendation of an independent auditor[91]. Strategic Initiatives - The company aims to strengthen its position as a grain transshipment and distribution hub along China's coastal ports[44]. - The company aims to improve gender diversity on its board by appointing at least one female director by December 31, 2024[97]. - The company is committed to enhancing customer experience through improved services[112]. - The management team emphasizes maximizing production efficiency through precise strategies[50]. - The company aims to strengthen strategic partnerships with core customers and enhance overall port service capabilities[136]. Human Resources - The company has established a compensation policy linking employee remuneration to performance, with annual reviews and adjustments based on operational conditions[48]. - The company has a total of 335 employees as of December 31, 2022[170]. - The management team includes experienced professionals with extensive backgrounds in legal affairs, production management, and strategic development[42][54][56]. Shareholder Information - The board has proposed a final dividend of RMB 0.024 per share for the year ended December 31, 2022, subject to shareholder approval[119]. - Shareholders holding 10% or more of the company's shares can request a temporary shareholders' meeting[107]. - The company has reviewed the effectiveness of its shareholder communication policy and found it to be effective[106]. - The company will suspend the registration of shareholders from May 24 to May 30, 2023, for determining eligibility for the proposed final dividend[120]. Risk Factors - Global economic growth is expected to continue declining in 2023, with a slight increase in grain transportation demand projected at 1-2% year-on-year[49]. - The company has faced various risks and uncertainties that may impact its business and financial performance[122]. - The company has conducted regular reviews of its risk management and internal control systems, finding them effective and sufficient[129]. Board Changes - There were significant changes in the board of directors, with Mr. Wang Wei resigning on August 2, 2022, and Mr. Qin Yuning appointed on the same date[180]. - Mr. Gao Zhiyuan was appointed as the chairman of the supervisory board on August 19, 2022, following his election as a staff representative supervisor on August 2, 2022[191]. - 房磊先生于2022年12月28日被任命为非执行董事，负责制定公司的企业与业务战略[57]. - 房磊先生于2022年12月28日被任命为薪酬委员会成员，后于同年12月28日不再担任该职务[64].

Financial Performance - The company's revenue for the reporting period was RMB 833,490 thousand, an increase of 9.9% compared to the same period last year[15]. - The net profit attributable to shareholders was RMB 199,873 thousand, representing an increase of 18.8% year-on-year[15]. - The gross profit for the year was RMB 297,264 thousand, up from RMB 258,340 thousand in the previous year[17]. - The basic and diluted earnings per share were RMB 12.04 cents, compared to RMB 10.14 cents in the previous year[17]. - The company reported a net profit of RMB 168,296 thousand for the year, compared to the previous year's profit, indicating a positive performance trend[33]. - The company’s total comprehensive income for the period was RMB 199,873 thousand, an increase of RMB 31,577 thousand or 18.8% from RMB 168,296 thousand in the previous year[169]. - The company achieved a profit before tax of RMB 269,422 thousand, an increase of RMB 43,353 thousand or 19.2% compared to the same period in 2021[150]. Revenue Sources - Total revenue for 2022 reached RMB 758,492 thousand, an increase from RMB 672,721 thousand in 2021, representing a growth of approximately 12.7%[46]. - Customer contract revenue from service provision reached RMB 758,492 thousand, reflecting a growth of 12.7% from RMB 672,721 thousand[181]. - The revenue from loading and unloading services increased by RMB 25,776 thousand, or 4.5%, totaling RMB 602,871 thousand[128]. - The storage service revenue saw a significant increase of 85.3%, amounting to RMB 96,337 thousand[128]. - The port management service revenue increased by 44.0%, reaching RMB 23,492 thousand[128]. - Logistics agency service revenue increased to RMB 35,792 thousand in 2022 from RMB 27,310 thousand in 2021, marking a growth of approximately 31.2%[46]. Costs and Expenses - The company's employee costs amounted to RMB 84.591 million, up from RMB 69.965 million in the previous year[4]. - Administrative expenses rose to RMB 28,951 thousand, an increase of RMB 13,983 thousand or 93.4% compared to the previous year, primarily due to higher labor costs[165]. - The company incurred total depreciation and amortization expenses of RMB 124,309,000 in 2022, slightly up from RMB 122,668,000 in 2021[76]. Assets and Liabilities - Non-current assets amounted to RMB 2,553,607 thousand in 2022, up from RMB 2,393,608 thousand in 2021, indicating a growth of about 6.7%[56]. - The company's total assets less current liabilities were reported at RMB 2,790,923 thousand in 2022, compared to RMB 2,648,047 thousand in 2021, showing an increase of approximately 5.4%[31]. - The company’s total equity increased to RMB 2,553,607 thousand in 2022 from RMB 2,393,608 thousand in 2021, reflecting a growth of about 6.7%[56]. - The debt ratio as of December 31, 2022, was 9.09%, down from 10.28% in 2021[2]. - The current ratio improved to 7.66 times, compared to 7.51 times in 2021, indicating better liquidity management[200]. Cash Flow - Cash and cash equivalents increased significantly to RMB 852,658 thousand in 2022 from RMB 592,669 thousand in 2021, reflecting a growth of approximately 43.8%[29]. - The company’s cash and cash equivalents at the end of 2022 were RMB 405,820,000, compared to RMB 405,820,000 at the beginning of the year[58]. Investments and Capital Expenditures - The company has committed capital expenditures of RMB 623,627,000 for property, plant, and equipment that have not yet been accrued, compared to RMB 74,754,000 in 2021, reflecting an increase of 733.5%[118]. - The company plans to invest approximately RMB 1.44 billion in a food base project, which includes the renovation of the West No. 6 berth, expected to be completed by June 2024[174]. - Capital expenditures during the reporting period amounted to RMB 187.91 million, compared to RMB 121.40 million in the same period last year[173]. Operational Highlights - The company achieved a total cargo throughput of 30.4 million tons during the reporting period, representing a 1.1% increase compared to the same period in 2021[122]. - The company transported 2.8 million tons of food via rail, marking a 44.3% increase year-on-year[133]. - Soybean throughput reached 9.16 million tons, marking a 12.4% increase year-on-year and accounting for 9.7% of China's total soybean imports[188]. - The company achieved a total throughput of 1,092,000 tons in food products, representing a year-on-year increase of 4.7%[185]. - The company maintained stable wood chip throughput at 611,000 tons, with a 1.5% increase compared to the previous year[185]. Market and Economic Context - The average import price of food in China reached RMB 3,744.7 per ton in 2022, an increase of 27% compared to the previous year[120]. - The total value of China's foreign trade reached RMB 42.07 trillion, with a year-on-year growth of 7.7%[144]. - The total cargo throughput of Chinese ports reached 1.5685 billion tons in 2022, a slight increase of 0.9% year-on-year[120].