Financial Performance - The company achieved a total cargo throughput of 28.3 million tons and generated revenue of RMB 177.0 million with a profit of RMB 88.8 million for the year[8]. - In 2024, the total cargo throughput reached 28.3 million tons, a 2.0% increase from 27.8 million tons in 2023, while container throughput decreased by 11.4% to 17,004 TEUs from 19,199 TEUs[14]. - The group's revenue for 2024 was RMB 177.0 million, up 2.0% from RMB 173.6 million in 2023, with net profit increasing by 9.6% to RMB 88.8 million from RMB 81.1 million[14]. - The revenue from bulk cargo and miscellaneous cargo handling services was RMB 147.2 million, a slight increase of 0.9% from RMB 145.8 million in 2023[19]. - The group recorded a net profit of approximately RMB 88.8 million for the year, an increase of 9.1% compared to RMB 81.1 million in 2023, with a net profit margin of 50.2%[26]. - The income tax expense for the year was approximately RMB 14.7 million, a decrease of 13.5% from RMB 17.0 million in 2023, resulting in an effective tax rate of approximately 14.2%[25]. - The company reported a total reserve available for distribution to shareholders of RMB 32,756,000 as of December 31, 2024, down from RMB 37,824,000 in 2023[62]. Operational Developments - The company implemented cost reduction and efficiency enhancement measures, resulting in significant improvements in internal management practices[11]. - The company is set to commence full construction of the dedicated railway line in 2025, marking a crucial year for its transformation and development[11]. - The company’s logistics park project has been completed and passed inspection, contributing to new cargo sources for the business[8]. - The company aims to enhance its logistics services and port operations in 2025, coinciding with the full-scale construction of dedicated railway lines to the port[17]. - The company is facing challenges such as increased competition from self-owned terminals of large mines and a decline in the non-metallic mineral market, impacting cargo availability[15]. - The management anticipates a stable growth in water transport demand, supported by the overall resilience of the Chinese economy[16]. Innovation and Technology - In 2024, the company successfully authorized 2 utility model patents and 15 software copyrights, with 11 utility patents and 3 invention patents pending[9]. - The company’s technology center was recognized as an "Anhui Provincial Enterprise Technology Center"[9]. - The company is committed to improving operational efficiency and reducing costs, with a focus on innovative practices and risk management strategies[15]. - The CEO has obtained 26 utility model patents and 34 software copyrights since joining the group[38]. - The company is committed to innovation, as evidenced by its significant number of patents and software copyrights obtained by its management[38]. Corporate Governance - The board consists of six members, including two executive directors and three independent non-executive directors, ensuring a diverse skill set relevant to the company's management[105]. - The roles of the chairman and CEO are separated to ensure effective governance and operational efficiency[106]. - The company has adopted a board diversity policy, aiming for a diverse board composition based on gender, age, cultural background, and professional experience[112]. - The company has established a clear framework for the roles and responsibilities of the audit, remuneration, and nomination committees, all composed of independent non-executive directors[132]. - The company has received annual independence confirmations from all independent non-executive directors, affirming their independence[88]. - The company is committed to enhancing its corporate governance practices in line with legal requirements and best practices[104]. Environmental, Social, and Governance (ESG) Initiatives - The company’s ESG report outlines strategies and practices for environmental and social governance for the fiscal year 2024[162]. - The report covers the performance of the company’s two main terminals, Jiangkou and Niutoushan, in environmental protection and social development[163]. - The company has complied with all relevant environmental regulations, including the Water Pollution Prevention Law and the Air Pollution Prevention Law of the People's Republic of China[176]. - The company has implemented environmental measures such as dust screens, water spraying systems, and dust detection systems to control pollution[178]. - The company has identified key ESG issues, including health and safety, product responsibility, and climate change, which are prioritized based on their significance[175]. - The company aims to create long-term value for stakeholders and the communities in which it operates through sustainable development initiatives[173]. Risk Management and Compliance - The company has a zero-tolerance policy towards corruption and fraud, with no reported violations of relevant laws during the reporting year[144]. - The internal control policies cover various operational aspects, including risk assessment, financial reporting, cost management, and employee recruitment, and are reviewed at least annually[140]. - The company has established a whistleblowing policy to allow employees and stakeholders to report misconduct confidentially[144]. - The company emphasizes the importance of internal monitoring measures to prevent future compliance issues and has issued a memorandum to the board and senior management[160]. - The audit committee is responsible for recommending the appointment and remuneration of external auditors, ensuring their independence and objectivity[132]. Human Resources and Employee Engagement - The total number of employees decreased to 205 from 214, which will also be used for calculating other density metrics[183]. - The company has provided training and resources to all directors regarding their responsibilities and relevant regulations[121]. - Directors have participated in continuous professional development, covering topics such as corporate governance and finance[123]. - The company has established an ESG working group to assist the board in overseeing and implementing ESG strategies[170]. Future Outlook - The company aims to maintain or reduce greenhouse gas emissions density in the upcoming year through vehicle management measures and energy-saving policies[184]. - The company plans to continue reducing energy consumption emissions and aims to maintain or decrease emissions density in the next fiscal year, with 2024 as the reference year[196]. - The next annual general meeting is scheduled for May 28, 2025, with voting procedures explained during the meeting[147].

Financial Performance - Total revenue for the year ended December 31, 2024, was RMB 177,042,000, representing a 2.0% increase from RMB 173,583,000 in 2023[5] - Net profit attributable to the company for the year was RMB 65,623,000, an increase of 11.0% compared to RMB 59,140,000 in the previous year[5] - The overall net profit for the year was RMB 88,836,000, reflecting a 9.6% growth from RMB 81,083,000 in 2023[5] - Gross profit amounted to RMB 117,256,000, up from RMB 111,109,000, indicating a positive trend in profitability[6] - Other income and gains increased to RMB 17,834,000 from RMB 13,600,000, showing a significant growth in additional revenue streams[6] - The company reported a pre-tax profit of RMB 103,561,000, compared to RMB 98,109,000 in the previous year, marking a healthy increase[6] - The total comprehensive income for the year was RMB 88,552,000, up from RMB 80,122,000, indicating overall financial improvement[6] - The company reported a total revenue of RMB 88,836 thousand for the year 2024, up from RMB 81,083 thousand in 2023, representing an increase of approximately 9.5%[7] - The net profit attributable to the company's shareholders was RMB 65,623 thousand in 2024, compared to RMB 59,140 thousand in 2023, reflecting a growth of about 10.5%[7] - The company’s basic and diluted earnings per share rose to RMB 8.20 in 2024 from RMB 7.39 in 2023, representing an increase of about 11%[7] - The company’s total equity attributable to shareholders rose from RMB 486,659 thousand in 2023 to RMB 552,078 thousand in 2024, showing an increase of approximately 13.4%[9] - The company’s retained earnings increased from RMB 479,901 thousand in 2023 to RMB 545,320 thousand in 2024, reflecting a growth of about 13.7%[9] - The company’s cash and cash equivalents increased to RMB 299,267 thousand in 2024 from RMB 225,918 thousand in 2023, marking a rise of approximately 32.4%[8] - The company’s total assets reached RMB 764,955 thousand in 2024, an increase from RMB 683,356 thousand in 2023, indicating a growth of approximately 11.9%[8] - The company’s total liabilities decreased from RMB 318,868 thousand in 2023 to RMB 405,662 thousand in 2024, showing a reduction of about 27.2%[8] Operational Focus and Strategy - The company is focused on expanding its market presence and enhancing its service offerings to drive future growth[4] - Investment in new technologies and product development is a key strategy for the company moving forward[4] - The group aims to enhance its logistics services and port operations in 2025, leveraging the construction of dedicated railway lines to improve efficiency and risk management[46] - The group is committed to increasing market share by actively developing new customers and promoting waterway transportation alternatives[42] - The group has implemented cost reduction and efficiency enhancement measures, including the establishment of a "12 Methods for Cost Reduction and Efficiency Enhancement" initiative[43] - The group recognizes challenges in the port development sector, including geopolitical tensions and fluctuations in shipping costs, which may impact foreign trade cargo volumes[45] - The group faced operational pressure due to macroeconomic downturns and increased competition from self-sufficient terminals established by large mines along the river[41] Governance and Compliance - The board of directors is committed to ensuring the accuracy and completeness of the financial information presented[4] - The consolidated financial statements are prepared in accordance with the Hong Kong Financial Reporting Standards and the disclosure requirements of the Hong Kong Companies Ordinance[11] - The company emphasizes strong corporate governance practices, adhering to GEM listing rules and maintaining high standards of accountability and transparency[62] - The audit committee has been established to oversee the appointment and independence of external auditors, ensuring effective financial reporting and risk management[70] - The audit committee has reviewed the consolidated financial performance for the year ending December 31, 2024, and confirmed compliance with applicable accounting standards and GEM listing rules[71] Taxation and Financial Commitments - The company's estimated taxable profit in China is subject to a corporate income tax rate of 25%, with certain subsidiaries enjoying tax exemptions and reductions[27] - A qualified public infrastructure project started on January 1, 2022, will be exempt from 50% of taxes until December 31, 2024[28] - The company’s subsidiary, Qizhou Niutoushan, is recognized as a high-tech enterprise and will pay corporate income tax at a preferential rate of 15% from 2023 to 2025[29] - A capital commitment of approximately RMB 1.34 billion was approved for Chizhou Iron Aviation, with the company contributing approximately RMB 66.77 million[60] - The company plans to increase its capital commitment by approximately RMB 66,765,000 as part of its investment plan for 2025[67] Revenue and Expenses - Revenue from providing unloading services for the year ended December 31, 2024, was approximately RMB 150.4 million, an increase of RMB 1.0 million or about 0.7% compared to 2023[48] - Total revenue for the year ended December 31, 2024, was RMB 177.0 million, an increase of RMB 3.5 million or 2.0% from RMB 173.6 million in 2023[48] - Total cargo throughput increased by 555.6 thousand tons or 2.0% to 28,334.5 thousand tons for the year ended December 31, 2024[48] - Gross profit increased to approximately RMB 117.3 million for the year ended December 31, 2024, with a gross profit margin of 66.2%, up from 64.0% in 2023[50] - Service costs decreased to approximately RMB 59.8 million, a reduction of RMB 2.7 million or about 4.3% compared to RMB 62.5 million in 2023[49] - Administrative expenses increased by approximately RMB 2.7 million or 10.2%, primarily due to an increase in administrative staff costs[51] - Income tax expense for the year ended December 31, 2024, was approximately RMB 14.7 million, a decrease of RMB 2.3 million or about 13.5% from RMB 17.0 million in 2023[52] - The effective tax rate for the year was approximately 14.2%, significantly lower than the standard corporate tax rate of 25% in China[52] Shareholder Information - The company has not declared any dividends for the year ending December 31, 2024[32] - The total proposed final dividend and special dividend for the year ending December 31, 2023, is HKD 48,000,000 (approximately RMB 43,813,000)[31] - The company does not recommend the payment of dividends for the current year[57] Joint Ventures and Projects - A joint venture was established on December 29, 2023, to form Chizhou Haishun Port Service Co., Ltd., with a registered capital of approximately RMB 10.5 million for land use rights[58] - A joint venture was established on November 9, 2024, for the construction and operation of railway lines, with a proposed registered capital of RMB 200 million[61] - The land use rights for a project area of approximately 74,798 square meters will be transferred to Chizhou Haishun for a price of approximately RMB 17.95 million[59] - The land use rights for the project will be transferred to the joint venture for a price of approximately RMB 17,952,000[67] - A construction contract was signed for the Jiangkou Terminal Phase IV project, valued at approximately RMB 146.49 million[61] Employee and Operational Metrics - The company’s employee benefits expenses, including salaries and other benefits, totaled RMB 21,827,000 for the year ending December 31, 2024[25] - Research and development expenses for the year amounted to approximately RMB 8,852,000, up from RMB 8,678,000 in 2023, with employee benefits accounting for about RMB 4,800,000[25] - The group reported a bulk cargo and container throughput of 28.3 million tons and 17,004 standard containers for 2024, representing a year-on-year increase of 2.0% and a decrease of 11.4% respectively compared to 2023[40] - The company operates solely in China, with all revenue generated from providing port services in the region[23] - The company has only one operating segment, which is the provision of port services, and does not report segmented financial data[22] - The geographical location of non-current assets is primarily based in China, aligning with the company's operational focus[23]

遠航港口發展有限公司 OCEAN LINE PORT DEVELOPMENT LIMITED (於開曼群島註冊成立的有限公司) 股份代號 : 8502 中期報告 2024 香港聯合交易所有限公司 (「聯交所」) GEM 的特色 GEM 的定位,乃為中小型公司提供一個上市的市場,此等公司相比起其他在聯交所 上市的公司帶有較高投資風險。有意投資的人士應了解投資於該等公司的潛在風險, 並應經過審慎周詳的考慮後方作出投資決定。 由於GEM上市公司普遍為中小型公司,在GEM 買賣的證券可能會較於主板買賣之證 券承受較大的市場波動風險,同時無法保證在GEM買賣的證券會有高流通量的市場。 香港交易及結算所有限公司及聯交所對本報告的內容概不負責,對其準確性或完整 性亦不發表任何聲明,並明確表示,概不就因本報告全部或任何部分內容而產生或 因依賴該等內容而引致的任何損失承擔任何責任。 | --- | |---------------------------------------------------------------------------------| | | | 本報告乃遵照GEM證券上市規則([GEM上市規則)而 ...

香 港 交 易 及 結 算 所 有 限 公 司 及 聯 交 所 對 本 公 告 的 內 容 概 不 負 責，對 其 準 確 性 或 完 整 性 亦 不 發 表 任 何 聲 明，並 明 確 表 示，概 不 就 因 本 公 告 全 部 或 任 何 部 分 內 容 而 產 生 或 因 依 賴 該 等 內 容 而 引 致 的 任 何 損 失 承 擔 任 何 責 任。 （於開曼群島註冊成立的有限公司） （股份代號：8502） 截 至 二 零 二 四 年 六 月 三 十 日 止 六 個 月 之 中 期 業 績 公 告 香 港 聯 合 交 易 所 有 限 公 司（「聯 交 所」）GEM的 特 色 GEM的 定 位，乃 為 中 小 型 公 司 提 供 一 個 上 市 的 市 場，此 等 公 司 相 比 起 其 他 在 聯 交 所 上 市 的 公 司 帶 有 較 高 投 資 風 險。有 意 投 資 的 人 士 應 了 解 投 資 於 該 等 公 司 的 潛 在 風 險，並 應 經 過 審 慎 周 詳 的 考 慮 後 方 作 出 投 資 決 定。 由 於GEM上 市 公 司 普 遍 為 中 小 型 公 司，在GEM買 賣 的 證 ...

Operating Performance - The company maintained stable operating performance despite adverse market conditions, with cargo throughput, operating revenue, and profit remaining relatively stable[6]. - In 2023, the total cargo throughput was 27.8 million tons, a decrease of 4.4% from 29.1 million tons in 2022[12]. - Container throughput reached 19,199 TEUs, an increase of 54.3% compared to 12,446 TEUs in 2022[12]. - Total revenue for 2023 was RMB 173.6 million, down 7.4% from RMB 187.4 million in 2022[12]. - The profit for 2023 was RMB 81.1 million, a decrease of 7.3% from RMB 87.5 million in 2022[12]. - The revenue from bulk cargo and general cargo services was RMB 145.8 million, a decrease of 10.2% from RMB 162.4 million in 2022[19]. - Revenue from container services increased by 59.5% to RMB 3.5 million from RMB 2.2 million in 2022[19]. - The gross profit for 2023 was RMB 111.1 million, a decrease of 3.5% from RMB 115.1 million in 2022, while the gross margin improved to 64.0%[22]. Safety and Environmental Compliance - The company reported no significant safety or environmental incidents throughout the year, maintaining all indicators within the set control range[9]. - The company has established an environmental protection and safety department led by a senior manager to oversee compliance with environmental regulations[184]. - The company has obtained all necessary local and national permits, including port operation licenses and hazardous cargo operation certificates[184]. - The company has adhered to all relevant environmental regulations, including the Water Pollution Prevention Law and the Air Pollution Prevention Law of the People's Republic of China[184]. - The company has not been involved in any confirmed violations related to environmental protection that would significantly impact its operations[184]. Strategic Initiatives - The company initiated the dedicated railway line project as part of the multi-modal transport demonstration project, establishing three new companies to advance port and railway construction[7]. - The company plans to focus on innovation and transformation in 2024, marking it as a crucial year for the comprehensive construction of the dedicated railway line[9]. - The company plans to enhance logistics services and infrastructure, including the initiation of a dedicated railway project to improve port connectivity in 2024[17]. Financial Management - The group's income tax expense for the year ended December 31, 2023, was approximately RMB 17.0 million, a decrease of RMB 3.2 million or about 15.8% compared to RMB 20.2 million in 2022[25]. - The net profit for the year was approximately RMB 81.1 million, maintaining a net profit margin of 46.7%, consistent with the previous year[26]. - As of December 31, 2023, the net book value of property, plant, and equipment was approximately RMB 400.3 million, down from RMB 417.4 million in 2022, primarily due to depreciation expenses of RMB 23.4 million[27]. - The group's bank and cash balance was approximately RMB 301.6 million as of December 31, 2023, an increase from RMB 288.8 million in 2022[28]. - The company did not recommend the payment of dividends for the year[32]. Corporate Governance - The company has confirmed compliance with relevant laws and regulations, with no significant non-compliance events reported for the year ending December 31, 2023[99]. - The company has adopted a board diversity policy, aiming for at least one board member of a different gender and at least one member with accounting or other professional qualifications[121]. - The company has maintained compliance with the corporate governance code and has not deviated from the applicable provisions during the reporting period[113]. - The board consists of six directors, including two executive directors, one non-executive director, and three independent non-executive directors, ensuring a diverse skill set and experience relevant to the group's business management[110]. - The independent non-executive directors possess valuable experience and expertise in legal, accounting, or business auditing fields, providing neutral opinions and independent judgments[113]. Environmental, Social, and Governance (ESG) Initiatives - The company’s ESG report outlines strategies and performance in environmental and social aspects for the fiscal year 2023, covering operations at Jiangkou and Niutoushan terminals[166][167]. - The company has established an ESG working group to assist the board in monitoring and promoting the implementation of ESG strategies[173]. - The company focuses on maintaining close communication with stakeholders to enhance its sustainable development strategies[177]. - The company aims to create long-term value for all stakeholders and the communities in which it operates[173]. Energy and Emissions Management - Total greenhouse gas emissions for the year amounted to 8,789,957.17 kg CO2 equivalent, an increase of 14.6% from 7,669,569.20 kg CO2 equivalent in the previous year[189]. - The company aims to maintain or reduce total greenhouse gas emissions density in the upcoming year, using 2023 as the baseline year[189]. - The company is gradually replacing high-emission diesel-powered port transport machinery with electric alternatives[189]. - The company has implemented energy-saving measures such as turning off unused lighting and equipment to reduce energy consumption[196]. - Water consumption for domestic use was recorded at 27,587.00 cubic meters in 2023, slightly up from 27,252.33 cubic meters in 2022, reflecting a 1.23% increase[200].

Financial Performance - Total revenue for the year ended December 31, 2023, was RMB 173,583,000, a decrease of 7.4% compared to RMB 187,377,000 in 2022[2] - Net profit attributable to the company for the year was RMB 59,140,000, down 7.7% from RMB 64,092,000 in the previous year[2] - Overall profit for the year was RMB 81,083,000, reflecting a decline of 7.3% from RMB 87,453,000 in 2022[2] - Revenue for the period was 173,583 million, compared to 187,377 million in the previous period, reflecting a decrease of approximately 7.6%[26] - Gross profit decreased to 111,109 million from 115,133 million, indicating a decline of about 3.5%[26] - Net income attributable to the company was 59,140 million, down from 64,092 million, representing a decrease of approximately 7.5%[28] - Basic and diluted earnings per share decreased to 7.39 from 8.01, a decline of about 7.8%[28] - The gross profit for the year ended December 31, 2023, decreased to approximately RMB 111.1 million, primarily due to a 4.4% reduction in cargo throughput[81] - The company recorded a profit of approximately RMB 81.1 million for the year, with a net profit margin of 46.7%, consistent with the previous year's margin[115] Assets and Liabilities - Total assets decreased to 683,356 million from 662,161 million, showing an increase of approximately 3.0%[29] - Non-current assets, including property, plant, and equipment, decreased to 400,307 million from 417,373 million, a decline of about 4.1%[29] - Current liabilities decreased to 148,946 million from 150,995 million, reflecting a decrease of approximately 1.4%[29] - Cash and cash equivalents increased to 299,267 million from 253,465 million, an increase of about 17.9%[29] - The net book value of property, plant, and equipment as of December 31, 2023, was approximately RMB 400.3 million, a decrease from RMB 417.4 million in 2022[84] - As of December 31, 2023, the group had no outstanding bank borrowings, with cash and bank balances amounting to approximately RMB 301.6 million, an increase from RMB 288.8 million the previous year[116] Expenses - Administrative expenses increased to (26,340) million from (19,563) million, reflecting an increase of about 34.6%[26] - Employee benefits expenses increased to RMB 32,676,000 in 2023 from RMB 29,972,000 in 2022, reflecting a rise of approximately 9%[43] - Research and development expenses amounted to approximately RMB 8,678,000 in 2023, up from RMB 3,770,000 in 2022, indicating a significant increase in investment in innovation[64] - Service costs for the year amounted to RMB 62.5 million, a decrease of RMB 9.7 million or approximately 13.4% compared to RMB 72.2 million in the previous year[113] - The group reported a decrease in the cost of services provided, with a notable reduction in maintenance and repair expenses from RMB 10,804,000 in 2022 to RMB 2,007,000 in 2023[43] Dividends - The company did not recommend the payment of a final dividend for the year[49] - The board has proposed a final dividend of HKD 0.03 per share, totaling approximately RMB 43,813,000, subject to shareholder approval[69] - The group will not recommend the payment of a final dividend for the year[102] Market and Economic Conditions - The company faced challenges due to slower-than-expected economic recovery and low prices for non-mineral products[54] - The company anticipates that external factors such as geopolitical tensions and economic slowdowns will continue to impact shipping demand negatively[75] - The company expects government policies to support infrastructure investment, which may help stabilize shipping demand in the long term[76] - The company is positioned to benefit from significant government support for water transport development in Anhui Province[152] Operational Developments - The company successfully introduced foreign trade shipping companies, enhancing container business operations and achieving record container volumes for the year[55] - The company processed a total of 19,199 standard containers in 2023, which is an increase of 54.3% compared to 12,446 standard containers in 2022[78] - The company is committed to improving its port and logistics services to better meet market demands and enhance performance in 2024[92] - The company plans to advance the construction of a dedicated railway line project, with full-scale construction expected to commence in 2024[92] - The company is actively developing new customers and enhancing market share through aggressive marketing strategies[143] Taxation - The company has been recognized as a high-tech enterprise and will pay corporate income tax at a preferential rate of 15% from 2023 to 2025[67] - The group’s income tax expense for the year ended December 31, 2023, was approximately RMB 17.0 million, a decrease of RMB 3.2 million or about 15.8% compared to RMB 20.2 million in 2022[83] - The actual tax rate for the year ended December 31, 2023, was approximately 17.4%, down from 18.8% in 2022, primarily due to tax incentives from qualified projects[83] - The company’s qualified project will enjoy a 50% tax exemption until December 31, 2024[140] - The tax rate for the subsidiary Chizhou Logistics, qualifying as a small and micro enterprise, is set at 12.5% on taxable income not exceeding RMB 1 million[128] Joint Ventures and Investments - The establishment of Chizhou Huida Port Transportation Co., Ltd. was completed, with the company holding a 26% stake and an expected investment of RMB 26 million[117] - The company has established a joint venture named Chizhou Guohai Port Service Co., Ltd. with a registered capital of RMB 100,000,000, where the company holds a 60% stake[121] - The company plans to invest RMB 60,000,000 in the joint venture, Chizhou Guohai, which will engage in cargo handling, storage, and logistics services[121] - A construction contract was signed for a warehouse with an area of approximately 12,041 square meters at a cost of RMB 15.1 million[118] - The company established a joint venture, Chizhou Railway Construction Operation Co., Ltd., on June 16, 2023, to engage in railway construction and operation in China[155] Compliance and Governance - The audit committee has reviewed the financial performance for the year ending December 31, 2023, confirming compliance with applicable accounting standards and GEM listing rules[137]

Financial Performance - For the nine months ended September 30, 2023, the company reported total revenue of RMB 113,826 thousand, an increase from RMB 100,571 thousand in the same period of 2022, representing a growth of approximately 13.4%[15] - For the nine months ended September 30, 2023, the total profit attributable to the owners of the company was RMB 46,692,000, up from RMB 46,088,000 in the same period of 2022, representing a growth of 1.3%[47] - For the nine months ended September 30, 2023, the group recorded a profit of approximately RMB 63.5 million, compared to RMB 62.9 million for the same period in 2022, representing an increase of about 0.9%[68] - Gross profit increased to approximately RMB 87.5 million for the nine months ended September 30, 2023, with a gross profit margin of about 63.3%, compared to RMB 83.4 million and a margin of 61.5% in 2022[85] - Total revenue for the nine months ended September 30, 2023, was approximately RMB 138.3 million, slightly up from RMB 137.9 million in the same period of 2022[155] Operating Expenses - The company's operating expenses for the nine months ended September 30, 2023, included wages and salaries amounting to RMB 19,239 thousand, up from RMB 15,665 thousand in the previous year, indicating a rise of about 22.8%[24] - The group incurred research and development expenses of approximately RMB 4,389,000 for the nine months ended September 30, 2023, compared to RMB 1,925,000 for the same period in 2022, indicating a significant increase in investment in R&D[43] - Administrative expenses increased by approximately RMB 4.0 million or 34.9%, primarily due to an increase in administrative staff costs of about RMB 2.6 million[98] - The group’s deferred tax expense recognized in profit or loss for the nine months ended September 30, 2023, was RMB 2,259,000, compared to RMB 1,958,000 for the same period in 2022, indicating an increase in tax-related expenses[45] Revenue Sources - The company recognized rental income from investment properties amounting to RMB 22,028 thousand for the nine months ended September 30, 2023, an increase from RMB 18,186 thousand in the same period of 2022, which is a growth of about 21.1%[24] - The group’s income from providing loading and unloading services was RMB 117,890,000, reflecting a decrease of 2.6% compared to the previous year[59] - For the three months ended September 30, 2023, the port service revenue was RMB 45,195,000, an increase of 3.1% compared to RMB 41,807,000 for the same period in 2022[40] Taxation - The adjusted effective tax rate for the nine months ended September 30, 2023, was approximately 18.1%, compared to 20.8% for the same period in 2022[68] - The effective tax rate for the nine months ended September 30, 2023, was approximately 20.9%, compared to 20.8% for the same period in 2022[68] - The group has not recognized any taxable profits in Hong Kong for the nine months ended September 30, 2023, similar to the previous year, resulting in no provision for Hong Kong profits tax[28] Shareholder Information - As of September 30, 2023, the major shareholders of Vital Force hold a total of 600 million shares, representing approximately 75% ownership by Mr. Gui Sihai and Ms. Zhang Huifeng[104] - Mr. Gui Sihai and Ms. Zhang Huifeng are deemed to have beneficial ownership of all shares held by Vital Force, which is significant for corporate governance compliance[109] - The company did not recommend the payment of dividends for the nine months ended September 30, 2023[88] Corporate Governance - The company’s financial statements are prepared in accordance with the Hong Kong Financial Reporting Standards and GEM Listing Rules[21] - The audit committee, consisting of three independent non-executive directors, has reviewed the unaudited consolidated financial statements for the nine months ending September 30, 2023, ensuring compliance with applicable accounting standards[115] - The company has adopted the GEM Listing Rules and has complied with the corporate governance code throughout the reporting period[119] Future Outlook - The group expects continued economic recovery in China, driven by government policies, which may enhance domestic consumption and project growth in the fourth quarter[36] - The company plans to actively assess the production situation for the fourth quarter and implement targeted measures to ensure a solid foundation for next year's operations[75] Investments and Joint Ventures - The company established a joint venture, Chizhou Huida Port Co., Ltd., with an expected registered capital of RMB 100 million, in which the company holds a 26% stake[90] - A joint venture company, Chizhou Railway Construction Co., Ltd., was established on June 16, 2023, with a registered capital of RMB 18 million, in which Chizhou Port Holdings holds a 5% stake[101] - Chizhou Port Holdings invested RMB 500,000 in Chizhou Railway on July 7, 2023, as part of the joint venture agreement[101] - The investment in Chizhou Railway is part of the company's strategy for market expansion and infrastructure development in China[101] Cargo Throughput - The total cargo throughput for the nine months ended September 30, 2023, was 22,284 thousand tons, an increase of 1,196 thousand tons or 5.7% from 21,088 thousand tons in 2022[82] - The total throughput of bulk and general cargo was 22.3 million tons, an increase of 5.7% compared to 21.1 million tons for the same period in 2022[137] - Container volume reached 13,633 TEUs, representing a significant increase of 43.6% from 9,496 TEUs in the same period last year[137] Business Model - The company is actively promoting a "Port + Logistics" business model to expand its logistics services, resulting in an increase in related revenue by approximately RMB 2.6 million or 17.2%[141] - The company has entered into a construction contract for a warehouse with an area of approximately 12,410 square meters at a cost of RMB 15,117,000[143]

香港交易及結算所有限公司及聯交所對本公告的內容概不負責，對其準 確性或完整性亦不發表任何聲明，並明確表示，概不就因本公告全部或 任何部分內容而產生或因依賴該等內容而引致的任何損失承擔任何責任。 （於開曼群島註冊成立的有限公司） （股份代號：8502） 截 至 二 零 二 三 年 九 月 三 十 日 止 九 個 月 之 第 三 季 度 業 績 公 告 香港聯合交易所有限公司（「聯交所」）GEM的特色 GEM的 定 位，乃 為 中 小 型 公 司 提 供 一 個 上 市 的 市 場，此 等 公 司 相 比 起 其 他在聯交所上市的公司帶有較高投資風險。有意投資的人士應了解投資 於該等公司的潛在風險，並應經過審慎周詳的考慮後方作出投資決定。 由於GEM上市公司普遍為中小型公司，在GEM買賣的證券可能會較於主 板買賣之證券承受較大的市場波動風險，同時無法保證在GEM買賣的證 券會有高流通量的市場。 本公告乃遵照GEM證券上市規則（「GEM上市規則」）而刊載，旨在提供有 關遠航港口發展有限公司（「本公司」）的資料，本公司之董事（「董事」，各為 一名「董事」）願就本公告共同及個別承擔全部責任。董事在作出一切合理 ...

Financial Performance - For the three months ended June 30, 2023, the company's revenue was RMB 46,767,000, a decrease of 4.1% compared to RMB 49,787,000 for the same period in 2022[6] - For the six months ended June 30, 2023, the company's revenue was RMB 93,139,000, down 3.1% from RMB 96,108,000 in the same period of 2022[6] - The net profit attributable to the owners of the company for the six months ended June 30, 2023, was RMB 33,612,000, a slight decrease of 0.9% from RMB 33,932,000 in the same period of 2022[6] - The company's revenue from port services for the six months ended June 30, 2023, was RMB 93,139,000, a decrease of 3.0% compared to RMB 96,108,000 for the same period in 2022[25] - Revenue from bulk and general cargo services for the six months ended June 30, 2023, was RMB 77,828,000, down 10.4% from RMB 86,874,000 in the previous year[26] - The company reported a total comprehensive income of RMB 33,612,000 for the six months ended June 30, 2023, compared to RMB 33,932,000 in the same period of 2022, indicating a slight decrease of 0.9%[13] - Profit for the six months ended June 30, 2023, was approximately RMB 45.2 million, with a net profit margin of 48.5%[63] Assets and Liabilities - The company's total assets as of June 30, 2023, were RMB 648,427,000, a decrease from RMB 662,161,000 as of December 31, 2022[8] - The company's non-current assets totaled RMB 503,910,000 as of June 30, 2023, a slight decrease from RMB 511,920,000 as of December 31, 2022[8] - As of June 30, 2023, the net assets of the company decreased to RMB 611,307,000 from RMB 625,971,000 as of December 31, 2022, representing a decline of approximately 2.9%[9] - The total equity attributable to the owners of the company decreased to RMB 461,823,000 as of June 30, 2023, from RMB 472,024,000 as of December 31, 2022, a decrease of approximately 2.6%[13] - The company’s total liabilities as of June 30, 2023, were RMB 37,120,000, a slight increase from RMB 36,190,000 as of December 31, 2022[9] - As of June 30, 2023, the total liabilities of the group amounted to approximately RMB 16.0 million, with a debt-to-equity ratio of about 2.6%[67] Cash Flow and Dividends - The net cash generated from operating activities for the six months ended June 30, 2023, was RMB 31,947,000, down 24.3% from RMB 42,171,000 in the same period of 2022[11] - The net cash generated from investing activities was RMB 36,685,000 for the six months ended June 30, 2023, compared to a cash outflow of RMB 14,930,000 in the same period of 2022[11] - The company paid dividends amounting to RMB 43,813,000 during the six months ended June 30, 2023[11] - The board does not recommend any interim dividend for the six months ended June 30, 2023[79] Operational Highlights - The company has implemented cost control measures that have shown significant results, with each employee having clear responsibilities and performance standards[53] - The company is actively developing new customers and cargo types to stabilize revenue amidst a weak external market[53] - The overall economic environment remains weak, impacting demand for non-metallic mineral products and construction materials, which in turn affects port throughput[51] - The company expects a stronger domestic demand and a peak in port production in the second half of the year, driven by ongoing project construction and logistics business expansion[54][55] - The company is focusing on a "Port + Logistics" dual-driven business model to ensure long-term stable development of port operations[55] Employee and Management Costs - The company’s employee benefits expenses for the six months ended June 30, 2023, totaled RMB 14,021,000, an increase from RMB 11,781,000 in the previous year, reflecting investment in human resources[27] - The total employee cost for the six months ended June 30, 2023, was approximately RMB 14.0 million, an increase from RMB 11.8 million for the same period in 2022[74] - The total remuneration for directors and key management personnel for the six months ended June 30, 2023, was RMB 732,000, slightly down from RMB 743,000 in the same period of 2022[41] Investments and Commitments - The group has made a cash injection commitment of RMB 26,000,000 for a joint venture with two investors, acquiring a 26% stake[37] - The group has a total capital commitment of RMB 900,000 for an investment in Chizhou Railway Construction and Operation Co., Ltd.[37] - The group has established a joint venture, Chizhou Railway Construction Operation Co., Ltd., with a proposed registered capital of RMB 18 million, where the group's expected investment is RMB 900,000[83] - Another joint venture, Chizhou Huida Port Transportation Co., Ltd., was formed with a proposed registered capital of RMB 100 million, with the group's expected investment being RMB 26 million[83] Shareholder Information - Vital Force holds a beneficial ownership of 600,000,000 shares, representing 75% of the company's total shares[90] - The ownership structure of Vital Force includes 58.4% by Mr. Gui Sihai, 38.9% by Ms. Zhang Huifeng, and 2.7% by Hong Kong Shunyi Industrial Co., Ltd.[90] - The company confirmed that there are no competing interests from its controlling shareholders or directors in any business that directly or indirectly competes with the group[92] Audit and Compliance - The audit committee, consisting of three independent non-executive directors, has reviewed the unaudited condensed consolidated financial statements for the six months ended June 30, 2023[98]

香港交易及結算所有限公司及聯交所對本公告的內容概不負責，對其準 確性或完整性亦不發表任何聲明，並明確表示，概不就因本公告全部或 任何部分內容而產生或因依賴該等內容而引致的任何損失承擔任何責任。 （於開曼群島註冊成立的有限公司） （股份代號：8502） 截 至 二 零 二 三 年 六 月 三 十 日 止 六 個 月 之 中 期 業 績 公 告 香港聯合交易所有限公司（「聯交所」）GEM的特色 GEM的 定 位，乃 為 中 小 型 公 司 提 供 一 個 上 市 的 市 場，此 等 公 司 相 比 起 其 他在聯交所上市的公司帶有較高投資風險。有意投資的人士應了解投資 於該等公司的潛在風險，並應經過審慎周詳的考慮後方作出投資決定。 由於GEM上市公司普遍為中小型公司，在GEM買賣的證券可能會較於主 板買賣之證券承受較大的市場波動風險，同時無法保證在GEM買賣的證 券會有高流通量的市場。 本公告乃遵照GEM證券上市規則（「GEM上市規則」）而刊載，旨在提供有 關遠航港口發展有限公司（「本公司」）的資料，本公司之董事（「董事」，各為 一名「董事」）願就本公告共同及個別承擔全部責任。董事在作出一切合理 ...