Financial Performance - Revenue for the three months ended March 31, 2022, was RMB 46,321,000, representing an increase of 11.5% compared to RMB 41,640,000 for the same period in 2021[4] - Gross profit for the same period was RMB 27,842,000, up 18.5% from RMB 23,486,000 year-on-year[4] - Profit before tax increased to RMB 26,099,000, a rise of 17.5% from RMB 22,266,000 in the previous year[4] - Net profit attributable to owners of the company was RMB 13,752,000, compared to RMB 12,772,000 in the same quarter of 2021, reflecting an increase of 7.7%[4] - Basic and diluted earnings per share for the period were RMB 1.72, up from RMB 1.60 in the previous year[4] - Total comprehensive income for the period was RMB 19,324,000, compared to RMB 17,876,000 in the same quarter of 2021, marking a growth of 8.1%[4] Expenses and Costs - Administrative expenses increased to RMB 3,539,000 from RMB 3,022,000, indicating a rise of 17.1% year-on-year[4] - The cost of goods sold, including employee benefits, was RMB 5,494,000 for the three months ended March 31, 2022, compared to RMB 5,261,000 in the same period of 2021, reflecting a 4.4% increase[24] - Income tax expense for the three months ended March 31, 2022, was RMB 6,775,000, up 54.1% from RMB 4,390,000 for the same period in 2021[27] - The company incurred approximately RMB 552,000 in research and development expenses during the three months ended March 31, 2022, compared to none in the same period of 2021[24] - For the three months ended March 31, 2022, service costs amounted to approximately RMB 18.5 million, an increase of RMB 0.3 million or about 1.6% compared to the same period in 2021, primarily due to increased employee and subcontracting costs[89] Operational Highlights - The total cargo throughput for the three months ended March 31, 2022, was 6.731 million tons, an increase of 13.5% compared to 5.928 million tons in the same period of 2021[47] - The container throughput for the same period was 3,075 TEUs, a decrease of 26.3% from 4,172 TEUs in the previous year[47] - The increase in gross profit was mainly due to economies of scale achieved through better utilization of throughput capacity[90] - The company experienced a throughput increase of approximately 13.5% in tonnage, contributing to the rise in transportation and handling services[89] Strategic Initiatives - The company has implemented 11 cost-reduction and efficiency-enhancement measures, which have shown significant results in management and operational efficiency[50] - The company is focusing on market expansion by enhancing market analysis and increasing market share through innovative marketing strategies[46] - The company aims to reduce non-productive expenses and improve operational quality to ensure stable growth amidst external challenges[54] Tax and Compliance - The actual tax rate for the three months ended March 31, 2022, was approximately 26.0%, compared to 19.7% in the same period of 2021, with an adjusted effective tax rate of about 20.5% after excluding deferred tax expenses[94] - The company’s subsidiary, Chizhou Port Express Holdings, is eligible for tax exemptions and reductions under Chinese tax laws for qualified public infrastructure projects[28] - The audit committee, consisting of three independent non-executive directors, reviewed the unaudited condensed consolidated financial statements for the three months ending March 31, 2022, ensuring compliance with applicable accounting standards and regulations[117] Shareholder Information - As of March 31, 2022, Vital Force holds approximately 600,000,000 shares, representing 75% ownership in the company[107] - No shares of the company's listed securities were purchased, sold, or redeemed during the three months ending March 31, 2022[108] - There were no competitive interests held by major shareholders or directors that could directly or indirectly compete with the company's business as of March 31, 2022[109] - The company has adopted a stock option plan effective from July 10, 2018, with no options issued, exercised, canceled, or expired during the three months ending March 31, 2022[114] Dividend Policy - The company did not recommend any dividend for the three months ended March 31, 2022, consistent with the same period in 2021[35] - The company did not recommend the payment of dividends for the three months ended March 31, 2022[96] Future Outlook - The company anticipates challenges in the second quarter due to the ongoing COVID-19 pandemic and its impact on the logistics supply chain[54] - A joint venture agreement was established on March 28, 2022, to form a new company in China, with a proposed registered capital of RMB 1 million, where the company holds a 61.7% stake[97]

Financial Performance - The company achieved a throughput of 27.4 million tons, representing a year-on-year increase of 18.8%[11] - Operating revenue reached RMB 165.8 million, reflecting a year-on-year growth of 10.2%[11] - Profit amounted to RMB 79.5 million, with a year-on-year increase of 23.9%, setting a new record[11] - In 2021, the total cargo throughput reached 27.4 million tons, an increase of 18.8% from 23.0 million tons in 2020[18] - Total revenue for 2021 was RMB 165.8 million, a 10.2% increase from RMB 150.5 million in 2020[33] - The profit for 2021 was RMB 79.5 million, representing a 23.9% increase from RMB 64.2 million in 2020[18] - Gross profit increased to approximately RMB 97.7 million for the year ended December 31, 2021, up from RMB 83.9 million in 2020, representing a growth of 16.4%[37] - Net profit for the year was approximately RMB 79.5 million, with a net profit margin of 47.9%, up from 42.6% in 2020[42] Operational Efficiency - The company is actively promoting cost reduction and efficiency enhancement activities, resulting in significant improvements in operational efficiency[11] - The company is focusing on cost reduction and efficiency improvement, achieving significant results in operational effectiveness[23] - Operational efficiency improvements are expected to reduce costs by 5%, translating to savings of approximately $60 million annually[62] - The company has implemented vaccination measures for all employees to mitigate risks associated with the COVID-19 pandemic[30] Strategic Development - The company plans to expand its market presence while enhancing internal capabilities and project development[15] - The strategic focus includes "dual-wheel drive, cost reduction and efficiency enhancement, cultural construction, and green development"[15] - The company aims to leverage national strategies such as the "Yangtze River Economic Belt" and "Yangtze River Delta Integration" for high-quality development[15] - The company plans to leverage the "14th Five-Year Plan" for development and aims for better performance in 2022[24] Market and Competition - The company anticipates challenges from global economic shifts and competition in the shipping market[25] - The government’s emphasis on infrastructure investment is expected to support the high-quality development of inland ports[30] - The company is expanding its market presence in Southeast Asia, targeting a 25% market share within the next three years[62] Shareholder and Financial Policies - The company did not recommend the payment of dividends for the year[48] - The total reserves available for distribution to shareholders as of December 31, 2021, amounted to approximately RMB 21,374,000, a decrease from RMB 24,524,000 in 2020[84] - The company did not recommend the distribution of a final dividend for the year[76] - The board has adopted a dividend policy since November 8, 2019, requiring the company to maintain sufficient cash reserves to meet operational needs and future growth, without a predetermined dividend payout ratio[123] Governance and Compliance - The company has complied with relevant laws and regulations, with no significant non-compliance events reported for the year ending December 31, 2021[127] - The board consists of six members, including two executive directors, one non-executive director, and three independent non-executive directors, ensuring a diverse skill set relevant to the company's operations[140] - The company has confirmed the independence of all independent non-executive directors in accordance with GEM Listing Rules[119] - The board is responsible for guiding and supervising the group's affairs, ensuring financial and management performance aligns with shareholder interests[145] Risk Management - The company has implemented a risk management program to identify and monitor various types of risks, with the board reviewing the effectiveness of this program at least annually[195] - The internal control policies cover multiple operational aspects, including risk assessment and financial reporting, and are reviewed at least once a year[194] - The company has a zero-tolerance policy towards corruption and fraud, with strict guidelines for employees regarding ethical business conduct[198] Sustainability and Corporate Responsibility - The company received recognition for its sustainability efforts, with a 40% reduction in carbon emissions reported over the past year[62] Employee and Director Policies - The company has established a written compensation policy that aligns with business strategy and shareholder interests, ensuring that executive compensation is based on operational performance and market statistics[122] - The company has a retirement benefits plan detailed in the financial statements, ensuring employee welfare[134] - The company has established appropriate insurance arrangements for directors facing potential legal actions[169]

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 区 ... 000 100 1000 000 000 000 TI 第 三 季 度 報 告 2021 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,此等公司相比超其他在聯交所 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上市公司普邊為中小型公司,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（「善事」,各為一名「董事」）願就本 報告共 ...

[Corporate Information](index=4&type=section&id=Corporate%20Information) Far East Port Development Limited, listed on HKEX GEM (stock code 8502), is an investment holding company primarily engaged in port operations in Chizhou City, Anhui Province, China - Far East Port Development Limited is a Cayman Islands-incorporated company listed on HKEX GEM (stock code 8502), primarily engaged in investment holding with subsidiaries operating ports in Chizhou City, Anhui Province, China[24](index=24&type=chunk) - The company's ultimate controlling parties are Mr. Gui Sihai and his spouse Ms. Zhang Huifeng, who exercise control through Vital Force Developments Limited[24](index=24&type=chunk) [Financial Statements](index=6&type=section&id=Financial%20Statements) This section presents the unaudited condensed consolidated financial statements, including comprehensive income, financial position, cash flows, and changes in equity [Unaudited Condensed Consolidated Statement of Comprehensive Income](index=6&type=section&id=Unaudited%20Condensed%20Consolidated%20Statement%20of%20Comprehensive%20Income) For the six months ended June 30, 2021, revenue increased to RMB 89.77 million, gross profit slightly decreased, and profit for the period remained stable at RMB 43.23 million, with basic and diluted EPS at RMB 3.88 cents Summary of Results for the Six Months Ended June 30, 2021 | Indicator | For the Six Months Ended June 30, 2021 (RMB Thousand) | For the Six Months Ended June 30, 2020 (RMB Thousand) | Year-on-Year Change | | :--- | :--- | :--- | :--- | | Revenue | 89,771 | 86,405 | +3.9% | | Gross Profit | 54,555 | 55,594 | -1.9% | | Profit Before Income Tax | 51,497 | 52,665 | -2.2% | | Profit for the Period | 43,233 | 42,600 | +1.5% | | Profit Attributable to Owners of the Company | 31,054 | 30,519 | +1.8% | | Basic and Diluted Earnings Per Share | RMB 3.88 cents | RMB 3.81 cents | +1.8% | [Unaudited Condensed Consolidated Statement of Financial Position](index=7&type=section&id=Unaudited%20Condensed%20Consolidated%20Statement%20of%20Financial%20Position) As of June 30, 2021, total assets increased to RMB 676.34 million and total equity to RMB 519.75 million, indicating growth in asset base and net assets, with a significant increase in net current assets Summary of Financial Position | Indicator | June 30, 2021 (RMB Thousand) | December 31, 2020 (RMB Thousand) | Change | | :--- | :--- | :--- | :--- | | Non-current Assets | 496,528 | 505,480 | -1.8% | | Current Assets | 179,812 | 144,700 | +24.3% | | **Total Assets** | **676,340** | **650,180** | **+4.0%** | | Current Liabilities | 114,825 | 133,834 | -14.2% | | Non-current Liabilities | 41,769 | 38,816 | +7.6% | | **Total Liabilities** | **156,594** | **172,650** | **-9.3%** | | **Total Equity** | **519,746** | **477,530** | **+8.8%** | [Unaudited Condensed Consolidated Statement of Cash Flows](index=9&type=section&id=Unaudited%20Condensed%20Consolidated%20Statement%20of%20Cash%20Flows) For the six months ended June 30, 2021, net cash from operating activities was RMB 50.03 million, but increased net cash used in investing activities led to a decrease in cash and cash equivalents to RMB 96.55 million at period-end Summary of Cash Flows | Indicator | For the Six Months Ended June 30, 2021 (RMB Thousand) | For the Six Months Ended June 30, 2020 (RMB Thousand) | | :--- | :--- | :--- | | Net Cash Generated from Operating Activities | 50,032 | 56,768 | | Net Cash Used in Investing Activities | (80,394) | (25,659) | | Net Cash Generated from/(Used in) Financing Activities | 4,392 | (34,942) | | **Net Decrease in Cash and Cash Equivalents** | **(25,970)** | **(3,833)** | | Cash and Cash Equivalents at Beginning of Period | 122,523 | 84,161 | | **Cash and Cash Equivalents at End of Period** | **96,553** | **80,328** | [Unaudited Condensed Consolidated Statement of Changes in Equity](index=10&type=section&id=Unaudited%20Condensed%20Consolidated%20Statement%20of%20Changes%20in%20Equity) As of June 30, 2021, total equity grew from RMB 477.53 million at the beginning of the year to RMB 519.75 million, primarily driven by profit for the period, with equity attributable to owners increasing from RMB 352 million to RMB 383 million - Profit for the period of **RMB 43.23 million** was the primary driver of equity growth, with **RMB 31.05 million** attributable to owners of the company[20](index=20&type=chunk) [Notes to the Financial Statements](index=11&type=section&id=Notes%20to%20the%20Financial%20Statements) This section provides detailed notes to the unaudited condensed consolidated financial statements, covering revenue, income tax, earnings per share, interim dividends, and capital commitments [Note 5. Revenue](index=13&type=section&id=Note%205.%20Revenue) All company revenue is derived from port services in China, with total revenue for the six months ended June 30, 2021, at RMB 89.77 million, a 3.9% year-on-year increase, predominantly from stevedoring services, while ancillary port services revenue grew rapidly Revenue Breakdown (For the Six Months Ended June 30) | Revenue Category | 2021 (RMB Thousand) | 2020 (RMB Thousand) | Year-on-Year Change | | :--- | :--- | :--- | :--- | | **Provision of Stevedoring Services** | | | | | Bulk and General Cargo | 81,013 | 79,774 | +1.6% | | Container | 1,065 | 1,311 | -18.8% | | *Subtotal* | *82,078* | *81,085* | *+1.2%* | | **Provision of Ancillary Port Services** | 7,693 | 5,320 | +44.6% | | **Total** | **89,771** | **86,405** | **+3.9%** | [Note 7. Income Tax Expense](index=16&type=section&id=Note%207.%20Income%20Tax%20Expense) Current period income tax expense was RMB 8.26 million, lower than the prior period's RMB 10.07 million, primarily due to a corporate income tax exemption for a qualified infrastructure project of subsidiary Chizhou Port Holdings, valid until the end of 2021 - The qualified infrastructure project of subsidiary Chizhou Port Holdings enjoys a "three-year tax exemption, three-year 50% tax reduction" incentive, with 2021 still within the full exemption period, effectively reducing the group's overall tax burden[46](index=46&type=chunk) [Note 8. Earnings Per Share](index=17&type=section&id=Note%208.%20Earnings%20Per%20Share) For the six months ended June 30, 2021, basic and diluted earnings per share were RMB 3.88 cents, a slight increase from RMB 3.81 cents in the prior period, calculated based on profit attributable to owners of RMB 31.05 million and a weighted average of 800 million ordinary shares - Diluted earnings per share are the same as basic earnings per share due to the absence of potentially dilutive shares during the period[50](index=50&type=chunk) Earnings Per Share Calculation | Indicator | For the Six Months Ended June 30, 2021 | For the Six Months Ended June 30, 2020 | | :--- | :--- | :--- | | Profit for the Period Attributable to Owners of the Company (RMB Thousand) | 31,054 | 30,519 | | Weighted Average Number of Ordinary Shares in Issue | 800,000,000 | 800,000,000 | | **Basic Earnings Per Share** | **RMB 3.88 cents** | **RMB 3.81 cents** | [Note 9. Interim Dividend](index=17&type=section&id=Note%209.%20Interim%20Dividend) The Board does not recommend the payment of any interim dividend for the six months ended June 30, 2021, consistent with the policy for the prior period - No interim dividend is recommended for the six months ended June 30, 2021[51](index=51&type=chunk) [Note 14. Capital Commitments](index=20&type=section&id=Note%2014.%20Capital%20Commitments) As of June 30, 2021, the Group had contracted but unprovided capital commitments, primarily for investments in subsidiary Chizhou Meilong (RMB 21.6 million) and an equity investment at fair value through other comprehensive income (RMB 15 million) - The Group committed to inject a total of **RMB 36 million** cash capital in installments into subsidiary Chizhou Meilong for new pier construction, with **RMB 21.6 million** remaining to be injected[64](index=64&type=chunk) - The Group agreed to inject a total of **RMB 20 million** cash capital in installments into an investee, with **RMB 5 million** already injected and **RMB 15 million** remaining[65](index=65&type=chunk) [Management Discussion and Analysis](index=26&type=section&id=Management%20Discussion%20and%20Analysis) This section provides an overview of the Group's business performance, financial results, and future outlook, highlighting key operational and financial trends [Business Review](index=26&type=section&id=Business%20Review) As the largest public port operator in Chizhou City, Anhui Province, the Group operates Jiangkou and Niutoushan port areas; in H1 2021, bulk and general cargo throughput grew 10.3% year-on-year, driving a 3.9% revenue increase, while container business volume fell 17.1% due to international conditions Key Operating Data for H1 2021 | Indicator | H1 2021 | H1 2020 | Year-on-Year Change | | :--- | :--- | :--- | :--- | | Bulk and General Cargo Throughput | 14.4 million tonnes | 13.1 million tonnes | +10.3% | | Container Throughput | 7,020 TEUs | 8,471 TEUs | -17.1% | | Revenue | RMB 89.8 million | RMB 86.4 million | +3.9% | | Profit | RMB 43.2 million | RMB 42.6 million | +1.4% | - Performance growth was primarily driven by domestic economic recovery, the advancement of the Yangtze River Economic Belt strategy, and the throughput capacity advantage of Jiangkou Terminal Phase III[90](index=90&type=chunk)[93](index=93&type=chunk) [Outlook](index=27&type=section&id=Outlook) Management maintains a relatively optimistic outlook for the H2 2021 transportation market, citing positive factors like stable Chinese economic development and increased demand for construction materials, but acknowledges uncertainties from regional floods and the ongoing COVID-19 pandemic - Management is confident in the Group's operational outlook and will continue to leverage its throughput capacity advantages, control costs, and seize market opportunities[97](index=97&type=chunk) - Key uncertainties for the second half of the year stem from the potential impact of floods and the COVID-19 pandemic on the economy[94](index=94&type=chunk) [Financial Review](index=28&type=section&id=Financial%20Review) In H1 2021, the Group's total revenue grew 3.9% to RMB 89.8 million, driven by increased cargo throughput; however, cost of services rose 14.3% due to new fixed asset depreciation and increased subcontracting fees, leading to a gross margin decline from 64.3% to 60.8%, with profit for the period slightly increasing by 1.4% to RMB 43.2 million [Revenue](index=28&type=section&id=Revenue) Revenue growth primarily stemmed from increased cargo handling volume, reflecting a gradual recovery in market demand post-pandemic, with ancillary port services revenue significantly increasing by 44.6% year-on-year, while container handling revenue declined - An increase of approximately **1.3 million tonnes** in cargo throughput was the main reason for revenue growth, benefiting from the gradual recovery of China's domestic and foreign trade economies[101](index=101&type=chunk) [Cost of Services](index=29&type=section&id=Cost%20of%20Services) Cost of services increased by 14.3% year-on-year to RMB 35.2 million, primarily due to approximately RMB 1.8 million in increased depreciation expenses for new property, plant, and equipment, and approximately RMB 1.6 million in increased subcontracting fees driven by higher cargo throughput - The primary drivers of increased cost of services were higher depreciation of fixed assets and subcontracting fees related to increased business volume[102](index=102&type=chunk) [Gross Profit and Gross Margin](index=29&type=section&id=Gross%20Profit%20and%20Gross%20Margin) Gross profit slightly decreased by 1.9% year-on-year to RMB 54.6 million, with gross margin declining from 64.3% to 60.8%, primarily because the growth rate of fixed costs, especially depreciation, outpaced revenue growth Gross Profit and Gross Margin Changes | Indicator | H1 2021 | H1 2020 | Change | | :--- | :--- | :--- | :--- | | Gross Profit (RMB Thousand) | 54,555 | 55,594 | -1.9% | | Gross Margin (%) | 60.8 | 64.3 | -3.5 percentage points | [Income Tax Expense](index=30&type=section&id=Income%20Tax%20Expense) Income tax expense decreased by 17.8% year-on-year to RMB 8.3 million, mainly because more profit was derived from qualified projects enjoying corporate income tax exemption, resulting in an effective tax rate of approximately 16.0% for the period, significantly lower than the standard 25% rate - The lower effective tax rate is primarily attributable to the three-year full tax exemption enjoyed by Chizhou Port Holdings' qualified project[110](index=110&type=chunk) [Capital Structure, Liquidity and Financial Resources](index=31&type=section&id=Capital%20Structure%2C%20Liquidity%20and%20Financial%20Resources) The Group maintains a robust financial position, relying on operating cash flow and shareholder contributions for funding; as of June 30, 2021, bank and cash balances (including time deposits) were approximately RMB 166 million, with a very low gearing ratio (total liabilities/total equity) of approximately 0.2%, indicating minimal financial risk Key Financial Ratios | Indicator | June 30, 2021 | December 31, 2020 | | :--- | :--- | :--- | | Bank and Cash Balances (including time deposits) | RMB 166 million | RMB 123 million | | Total Liabilities | RMB 1.0 million | RMB 1.0 million | | Gearing Ratio | Approx. 0.2% | Approx. 0.2% | [Employees and Remuneration Policy](index=32&type=section&id=Employees%20and%20Remuneration%20Policy) As of June 30, 2021, the Group had approximately 212 employees, a slight decrease from the beginning of the year, with total staff costs for the first half of the year at approximately RMB 10 million, an increase year-on-year, and remuneration policy determined based on individual responsibilities, capabilities, and market levels - Total staff costs for the six months ended June 30, 2021, were approximately **RMB 10 million**, higher than the **RMB 9.3 million** in the prior period[124](index=124&type=chunk) [Other Information](index=34&type=section&id=Other%20Information) This section covers additional disclosures including directors' and major shareholders' interests and corporate governance practices [Directors' and Major Shareholders' Interests](index=34&type=section&id=Directors%27%20and%20Major%20Shareholders%27%20Interests) As of June 30, 2021, controlling shareholder Vital Force Developments Limited held 75% of the company's shares, with Executive Director Mr. Gui Sihai and his spouse (Non-executive Director Ms. Zhang Huifeng) deemed to jointly own this interest Major Shareholder Holdings | Shareholder Name | Capacity | Number of Shares Held | Percentage of Holding | | :--- | :--- | :--- | :--- | | Vital Force | Beneficial Owner | 600,000,000 | 75% | | Mr. Gui Sihai | Interest in Controlled Corporation | 600,000,000 | 75% | | Ms. Zhang Huifeng | Interest in Controlled Corporation | 600,000,000 | 75% | [Corporate Governance](index=37&type=section&id=Corporate%20Governance) During the reporting period, the company consistently complied with applicable provisions of the Corporate Governance Code in Appendix 15 to the GEM Listing Rules, having established an Audit Committee comprising three independent non-executive directors responsible for overseeing financial reporting and internal controls, which has reviewed the interim financial statements - The company has adopted a code of conduct for directors' securities transactions, and all directors have confirmed compliance with relevant provisions during the reporting period[158](index=158&type=chunk) - The Audit Committee has reviewed the unaudited condensed consolidated financial statements for the six months ended June 30, 2021, and considers them to be in compliance with applicable accounting standards and disclosure requirements[162](index=162&type=chunk)

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 区 ... 000 100 1000 000 000 000 TI 第一季度報 电游 2021 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,此等公司相比超其他在聯交所 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上市公司普邊為中小型公司,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（「善事」,各為一名「董事」）願就本 報告共同及 ...

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 区 XOXOX+2 000 000 000 110 000 0.00 111 | --- | --- | |-------|-------| | | | | | | 年 報 2020 香港聯合交易所有限公司(「聯交所」) GEM 的特色 GEM 的定位,乃為相比超其他於聯交所上市的公司帶有較高投資風險的中小型公司提供一個上 市的市場。有意投資的人士應了解投資於該等公司的潛在風險,並應經過審慎周詳考慮後方作 出投資決定。 由於GEM上市公司一般為中小型公司,於GEM買賣的證券可能會較於主板買賣的證券承受較 大的市場波動風險，同時無法保證於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倚賴該等內容而引致的 任何損失承擔任何責任。 本報告的資料乃遵照聯交所GEM證券上市規則(「GEM上市規則」而刊載・旨在提供有關趨航 港口發展有限 ...

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 | --- | --- | --- | --- | --- | --- | |-------|-------|-------|-------|-------|-------| | | | | | | | | | | | | | | 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 ...

Revenue and Profit - Revenue for the three months ended June 30, 2020, was RMB 47,965,000, an increase of 5.6% compared to RMB 45,447,000 for the same period in 2019[11] - Revenue for the six months ended June 30, 2020, was RMB 86,405,000, representing a 11.5% increase from RMB 77,721,000 in the same period of 2019[11] - Profit attributable to owners of the company for the three months ended June 30, 2020, was RMB 18,569,000, up 10.5% from RMB 16,811,000 in 2019[11] - Profit attributable to owners of the company for the six months ended June 30, 2020, was RMB 30,519,000, an increase of 22.5% compared to RMB 24,900,000 in the same period of 2019[11] - The company's profit before tax for the six months ended June 30, 2020, was RMB 30,519,000, compared to RMB 24,900,000 in the same period of 2019, reflecting a growth of 22.5%[51] - Profit for the six months ended June 30, 2020, was approximately RMB 42.6 million, compared to RMB 34.2 million in the same period of 2019, with a net profit margin of 49.3%[111] Assets and Liabilities - Total assets as of June 30, 2020, were RMB 490,174,000, compared to RMB 481,309,000 as of December 31, 2019[14] - Non-current assets amounted to RMB 497,400,000 as of June 30, 2020, slightly up from RMB 493,386,000 at the end of 2019[14] - Current liabilities were RMB 117,340,000 as of June 30, 2020, compared to RMB 134,702,000 at the end of 2019[14] - As of June 30, 2020, the net assets amounted to RMB 450,842 thousand, an increase of 10.2% from RMB 409,215 thousand as of December 31, 2019[17] - The total liabilities decreased to RMB 39,332 thousand as of June 30, 2020, from RMB 72,094 thousand as of December 31, 2019, indicating a significant reduction of 45.5%[17] - The total equity attributable to owners of the company increased to RMB 338,223 thousand as of June 30, 2020, up from RMB 307,704 thousand as of December 31, 2019, reflecting a growth of 9.9%[17] Cash Flow and Financing - The net cash generated from operating activities for the six months ended June 30, 2020, was RMB 56,768 thousand, representing a 60.2% increase compared to RMB 35,384 thousand for the same period in 2019[20] - Cash and cash equivalents decreased by RMB 3,833 thousand, from RMB 84,161 thousand at the beginning of the period to RMB 80,328 thousand at the end of the period[20] - The company reported a net cash outflow from investing activities of RMB 25,659 thousand for the six months ended June 30, 2020, compared to RMB 37,212 thousand for the same period in 2019, indicating a reduction in investment expenditure[20] - The company had bank borrowings of RMB 34,188 thousand as of June 30, 2020, down from RMB 43,000 thousand as of the previous year, showing a decrease of 20.5%[20] - Total bank financing amounted to approximately RMB 115,812,000 as of June 30, 2020, down from RMB 150,000,000 as of December 31, 2019[68] Operational Performance - The total throughput of bulk and general cargo reached approximately 13.1 million tons for the six months ended June 30, 2020, an increase of 4.4% compared to 12.5 million tons for the same period in 2019[92] - The number of standard containers handled was approximately 8,471, a decrease of 4.0% from 8,824 standard containers in the same period of 2019[92] - The company experienced a significant impact on port throughput due to the COVID-19 pandemic, with some clients halting production during peak periods[92] - The company plans to maintain its port throughput volume for 2020 at levels similar to the previous year, influenced by various uncertain factors[96] Taxation and Exemptions - The effective tax rate for the six months ended June 30, 2020, was impacted by a 25% corporate income tax rate applicable to the group's subsidiaries in China[48] - The company has benefited from tax exemptions for certain infrastructure projects, which will continue to impact profitability positively until the end of 2021[48] - The actual tax rate for the six months ended June 30, 2020, was approximately 19.1%, down from 22.6% in 2019, primarily due to tax exemptions from a specific infrastructure project[110] Expenses and Cost Management - The company has reported a decrease in operating expenses, with costs related to employee benefits dropping from RMB 5,040,000 in 2019 to RMB 4,124,000 in 2020 for the three-month period[44] - Administrative expenses decreased by approximately RMB 0.4 million or 7.6% due to reductions in employee costs and legal fees[109] - The total employee cost for the six months ended June 30, 2020, was approximately RMB 9.3 million, compared to RMB 11.1 million for the same period in 2019, reflecting a decrease of about 16.2%[127] Future Outlook and Strategy - The company plans to continue expanding its market presence and investing in new technologies to enhance operational efficiency[3] - The management remains optimistic about future growth prospects despite market volatility, focusing on strategic initiatives to drive revenue growth[3] - The company has increased marketing efforts to promote port development and expand market share[95] - The government has implemented policies to support economic recovery, including tax and social security relief, which are expected to benefit the company's operations[96] - The company is facing challenges from continuous heavy rainfall affecting the Yangtze River basin, which may impact its operations in the second half of 2020[99] Compliance and Governance - The company has appointed a compliance advisor to provide guidance on compliance with applicable laws and GEM listing rules, ensuring adherence to internal controls and director responsibilities[158] - The company has established an audit committee consisting of three independent non-executive directors to oversee financial reporting and internal controls, ensuring compliance with applicable accounting standards and GEM listing rules[164] - No share options were issued, granted, exercised, cancelled, or lapsed during the six months ended June 30, 2020, under the share option scheme adopted in June 2018[161]

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 | --- | --- | --- | --- | --- | --- | |--------------|-------|-------|-----------------------------------------------------------------------|-------|-------| | | | | | | | | | | | | | | | unminum | : I | | Leld and Let all all all all all at all and the seat of the property. | | | | 第 -季度報告 | | | | | | 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 ...

Financial Performance - The company achieved a throughput of 22.9 million tons, representing a year-on-year increase of 55.2%[9] - Operating revenue amounted to RMB 146.2 million, an increase of 55.0% year-on-year[9] - The total profit reached RMB 79.8 million, marking a growth of 79.8%[9] - Revenue from cargo handling services was approximately RMB 133.6 million in 2019, an increase of 58.2% from RMB 85.4 million in 2018[20] - Total revenue for the year was RMB 146.2 million, reflecting a 55.0% increase from RMB 94.3 million in 2018[20] - Gross profit increased to approximately RMB 79.8 million in 2019, with a gross margin of 54.6%, up from 47.1% in 2018[23] - The company recorded a profit of approximately RMB 60.1 million, with a net profit margin of about 41.1%, up from 26.9% in the previous year[27] - The total reserves available for distribution to shareholders as of December 31, 2019, amounted to approximately RMB 28,447,000, an increase from RMB 11,134,000 in 2018[72] Operational Capacity and Developments - The new phase of Jiangkou Terminal was fully operational, with two berths passing quality and acceptance checks in March 2019, and two more berths starting trial operations in April and October 2019[9] - The company completed two berths of the new phase of Jiangkou Port, with the remaining two berths and the overall project completed in January 2020[32] - The company has a fleet of over 3.5 million deadweight tons, indicating significant operational capacity in the shipping industry[41] - The completion of the new phase of Jiangkou Terminal in January 2020 is expected to further increase throughput capacity[17] Market and Strategic Focus - The company plans to enhance market development while maintaining strict management and cost control measures[11] - The company aims to maximize operational efficiency despite challenges posed by the COVID-19 pandemic[11] - The company is committed to innovation and proactive strategies to navigate market difficulties and environmental pressures[11] - The growth in throughput is attributed to strong demand from existing customers and the stable development of the mining and washing industry in Chizhou City[20] - The company is actively pursuing new strategies for market expansion and operational improvements in the logistics sector[39] Environmental and Social Responsibility - The company is committed to sustainable development, focusing on balancing business growth with social needs and environmental relations[176] - The ESG report covers the performance of the company in environmental protection and social development for the year 2019[178] - The company engages with stakeholders, including investors and suppliers, to address issues such as corporate governance, business strategy, and operational practices[184] - The company operates two terminals, Jiangkou Terminal and Niutoushan Terminal, and reports on their environmental and social performance[178] - The company has established a safety and environmental protection department to oversee compliance with environmental regulations[186] - The company aims to gradually replace high-emission diesel-powered equipment with electric machinery to reduce emissions[191] Governance and Compliance - The company has confirmed the independence of all independent non-executive directors in accordance with GEM Listing Rules[100] - The company has complied with relevant laws and regulations, with no significant non-compliance events reported for the year ending December 31, 2019[112] - The company has established a policy for the nomination of directors, ensuring a balance of skills, experience, and diversity on the board[107] - The board consists of six members, including two executive directors, one non-executive director, and three independent non-executive directors, ensuring a diverse skill set relevant to the company's operations[123] - The company has adopted a board diversity policy, aiming for at least one board member with accounting or other professional qualifications and at least one-third of the board to be independent non-executive directors[133] Risk Management and Internal Controls - The risk management team has been established to identify and monitor various business and financial risks, with the board reviewing the risk management system at least annually[160] - The internal control system aims to maintain asset integrity and ensure accurate financial reporting, with a review conducted by an independent internal control consultant this year[159] Shareholder Communication and Engagement - The company has implemented a shareholder communication policy, holding annual general meetings and special meetings to facilitate direct communication with the board[163] - Shareholders holding at least 5% of voting rights can request a special general meeting, with specific procedures outlined for such requests[167] - Shareholders representing at least 2.5% of voting rights can propose resolutions for the annual general meeting, with requirements for submission detailed[168]