Financial Performance - The company's revenue for the year was 21.996 billion yuan, a decrease of 6.92% compared to the previous year, while net profit after tax was 316 million yuan, an increase of 12.52%[5]. - The total asset scale of the company in 2022 was approximately 1.3 million yuan, representing a growth of 9% compared to the previous year[59]. - The company's net profit attributable to shareholders for 2022 was CNY 246,206,381.82, representing an increase of 2.81% from CNY 239,481,298.23 in 2021[88]. - The company's operating revenue for 2022 was CNY 21,995,890,721.09, a decrease of 6.82% compared to CNY 23,606,319,205.25 in 2021[88]. - The net profit attributable to shareholders for 2022 was CNY 246,206,381.82, representing an increase of 2.81% from CNY 239,481,298.23 in 2021[88]. - The company's net cash flow from operating activities decreased significantly by 74.63% to CNY 218,168,571.36 from CNY 859,886,729.54 in 2021[88]. - The weighted average return on equity for 2022 was 5.90%, down from 6.39% in 2021[88]. - The company reported a significant decline in cash flow from operations in Q1 2022, with a negative cash flow of CNY 539,210,359.07[92]. Cargo Throughput and Logistics Expansion - In 2022, the company achieved a cargo throughput of 44.46 million tons, an increase of 5.4% year-on-year, with bulk cargo throughput reaching 36.62 million tons, up 5.75%[5]. - The company expanded its logistics network by establishing 47 new logistics points, including in Vietnam and Thailand, and opened multiple sea-rail intermodal routes, resulting in a 32% year-on-year growth in business[6]. - The company established 47 logistics business points by the end of 2022, covering 12 provinces and 34 cities across the country[28]. - The company’s sea-rail intermodal transport business volume reached 54,200 TEUs in 2022, reflecting a year-on-year growth of 32.2%[108]. - The company’s container handling volume for the year was approximately 8.98 million TEUs, with a focus on integrating inspection and disinfection services[107]. Environmental and Social Responsibility - The company achieved a greenhouse gas emission reduction of 70,745.94 tons of CO2 equivalent in 2022[53]. - The company participated in 3,590 volunteer service activities and donated a total of 2.43 million yuan to society in 2022[11]. - The company maintained a stable safety production situation throughout the year, with zero incidents of general or above-level safety production accidents, and achieved a 520-day rotation isolation for high-risk workers[12]. Strategic Initiatives and Future Plans - The company plans to enhance its logistics supply chain integration strategy, focusing on expanding its port logistics core business and creating a unique logistics supply chain brand[14]. - The company aims to enhance its modern logistics services by leveraging technologies such as IoT, big data, and AI to develop new logistics models[26]. - The company is committed to enhancing its role in the "Belt and Road" initiative by leveraging its geographical advantages and port resources[47]. - The company plans to invest approximately CNY 654.01 million in 2023 for projects including the construction of Gu Lei Port North Berths 1-2, Hai Long Terminal Grain Warehouse 6, and the expansion of Hua Jin Terminal Berth 4[177]. - The company is focusing on digitalization and green initiatives, including the application of 5G and artificial intelligence technologies in port operations[176]. Governance and Management - The company has established three specialized committees under the board: the Strategy Committee, Audit Committee, and Compensation and Assessment Committee, to provide professional advice for decision-making[186]. - The company emphasizes information disclosure and investor relations management, ensuring timely and accurate communication with investors[186]. - The company has maintained a stable management team with no significant changes in the number of supervisors or directors, ensuring continuity in leadership[194]. - The company is actively enhancing its corporate governance structure in compliance with relevant laws and regulations, ensuring the protection of investor rights[185]. Market and Economic Outlook - The World Bank projects global economic growth to slow to 1.7% in 2023, marking one of the lowest annual growth rates in nearly 30 years[12]. - The company aims for a GDP growth rate of around 5% in China for 2023, as per predictions from the Chinese Academy of Social Sciences[13]. - The company is positioned to benefit from the strategic initiatives of the "Belt and Road" and RCEP, enhancing its role as a key player in international trade and logistics[168]. - The company anticipates challenges due to geopolitical risks and economic fluctuations, which may impact port cargo throughput and operational pressures[178].

证券代码：000905 证券简称：厦门港务 厦门港务发展股份有限公司 投资者关系活动记录表 编号：2022-07 | --- | --- | --- | |-------------------------|----------------------------------------|-------------------------------------------------------------------------------------------------------------| | | | | | 投资者关系活动 | ■ 特定对象调研 | □ 分析师会议 | | 类别 | □ 媒体采访 | □ 业绩说明会 | | | □ 新闻发布会 | □ 路演活动 | | | □ 现场参观 | | | | □ 其他 电话会议 | | | 参与单位名称及 人员姓名 | 中国国际金融股份公司 | 研究所交运组 杭程 | | 时间 | 2022 年 7 月 7 日 | | | 地点 | 公司办公室 | | | 上市公司接待人 | 董事会秘书 蔡全胜 | | | 员姓名 | 主要问答： | | | | ...

Financial Performance - The company's operating revenue for Q3 2022 was ¥6,658,729,025.19, representing a year-on-year increase of 6.27% compared to ¥6,254,798,342.49 in the same period last year[4] - The net profit attributable to shareholders for Q3 2022 was ¥43,644,264.55, a decrease of 27.89% from ¥60,521,509.49 in the previous year[4] - The net profit attributable to shareholders after deducting non-recurring gains and losses decreased by 41.55% to ¥21,278,414.42 from ¥36,406,104.76 in the same period last year[4] - The basic and diluted earnings per share for Q3 2022 were both ¥0.0635, down 34.40% from ¥0.0968 in the previous year[8] - Total operating revenue for the period reached ¥19,294,568,768.10, an increase of 9.39% compared to ¥17,635,247,324.47 in the previous period[19] - Net profit for the period was ¥243,837,301.34, representing a 7.87% increase from ¥226,829,328.91 in the same period last year[20] - Earnings per share (EPS) for the period was ¥0.3038, slightly up from ¥0.3036 in the previous period[20] Cash Flow - The net cash flow from operating activities increased by 35.07% to ¥769,665,170.62 compared to ¥571,559,191.84 in the same period last year[7] - The net cash flow from operating activities for Q3 2022 was ¥769,665,170.62, an increase from ¥569,835,098.70 in Q3 2021, representing a growth of approximately 35%[23] - The total cash inflow from operating activities amounted to ¥22,413,906,862.84, compared to ¥20,221,864,097.83 in the previous year, indicating a year-over-year increase of about 10.9%[23] - The total cash outflow from operating activities was ¥21,644,241,692.22, an increase from ¥19,652,028,999.13 in Q3 2021[23] - Cash inflow from financing activities totaled ¥3,566,571,206.73, slightly down from ¥3,612,833,204.33 in the same quarter last year[24] - The net cash flow from financing activities was ¥152,746,791.18, a decrease of approximately 24.2% compared to ¥201,691,173.21 in Q3 2021[24] - The total cash and cash equivalents at the end of Q3 2022 reached ¥1,422,232,185.03, up from ¥993,718,846.01 at the end of Q3 2021, reflecting a growth of about 43%[24] Assets and Liabilities - Total assets at the end of the reporting period were ¥12,399,299,448.16, an increase of 10.27% from ¥11,031,489,226.40 at the end of the previous year[4] - The company's total assets as of September 30, 2022, amounted to RMB 12,399,299,448.16, an increase from RMB 11,244,377,255.40 at the beginning of the year[17] - The company's current assets totaled RMB 5,567,829,178.10, up from RMB 4,514,964,706.67 at the start of the year[17] - The company's total liabilities increased to ¥6,326,396,227.87 from ¥6,161,322,329.65, marking a rise of 2.68%[19] - The company's short-term borrowings rose to RMB 652,118,157.67 from RMB 315,220,925.79 at the beginning of the year[17] - The company reported accounts receivable of RMB 1,220,860,473.34 as of September 30, 2022, compared to RMB 947,687,428.79 at the beginning of the year, reflecting a significant increase[16] - The company’s total liabilities increased, with accounts payable reported at RMB 1,089,733,702.55, down from RMB 1,551,950,913.67 at the beginning of the year[17] Investment and Expenses - The company reported a decrease in investment income from its associate, Xiamen Road and Bridge Xiangtong Co., Ltd., as a significant factor for the decline in net profit[7] - The company reported an investment income of ¥19,110,446.12, down from ¥27,935,436.67, indicating a decline of 31.69%[19] - Research and development expenses increased significantly to ¥2,945,017.70 from ¥611,362.62, showing a rise of 381.56%[19] - The company received tax refunds amounting to ¥179,558,465.02 during the quarter, compared to ¥4,913,572.93 in the previous year[23] Other Financial Metrics - The company experienced increased exchange losses due to significant currency fluctuations in Q3 2022[7] - The gross margin of the transportation business decreased, contributing to the overall decline in profitability[7] - The company completed a non-public issuance of 116,618,075 shares at a price of RMB 6.86 per share, raising a total of RMB 799,999,994.50, with a net amount of RMB 789,284,116.58 after expenses[12] - The company’s inventory decreased to RMB 1,504,907,685.52 from RMB 1,828,989,028.00 at the start of the year[16] - The company’s long-term equity investments increased to RMB 363,473,334.36 from RMB 352,855,907.50[17] - The company’s cash and cash equivalents rose to RMB 1,841,797,174.43 from RMB 878,583,442.53 at the beginning of the year[16] - The registered capital of Shihushan Terminal increased from RMB 40 million to RMB 95 million following a capital increase[15]

Financial Performance - The company's operating revenue for the first half of 2022 was CNY 12,635,839,742.91, representing an increase of 11.23% compared to CNY 11,360,351,620.51 in the same period last year[19]. - The net profit attributable to shareholders of the listed company was CNY 150,234,558.60, up 16.22% from CNY 129,268,525.01 year-on-year[19]. - Basic earnings per share rose to CNY 0.2403, reflecting a growth of 16.20% compared to CNY 0.2068 in the prior year[19]. - The net profit after deducting non-recurring gains and losses was CNY 112,917,278.06, which is a 9.42% increase from CNY 103,197,796.27 in the same period last year[19]. - The total revenue for the reporting period was 11,145.89 million RMB, with a year-on-year growth of 9.74%[64]. - The net profit for the first half of 2022 reached CNY 116,300,927.13, up 48.9% from CNY 78,035,393.90 in the first half of 2021[153]. - The total comprehensive income for the period was CNY 116,300,927.13, reflecting a significant increase compared to the previous period[174]. Cash Flow and Investments - The net cash flow from operating activities improved significantly to CNY 233,255,184.45, a turnaround from a negative cash flow of CNY -285,878,160.62 in the previous year, marking an increase of 181.59%[19]. - The total cash inflow from financing activities was CNY 2,413,545,203.38, compared to CNY 1,905,244,763.53 in the same period last year, indicating a 26.6% increase[156]. - The cash outflow from investment activities was CNY 195,224,240.78, slightly higher than CNY 192,339,025.93 in the first half of 2021[156]. - The company reported a cash and cash equivalents balance of CNY 917,344,305.14 at the end of the first half of 2022, up from CNY 843,996,923.52 at the end of the first half of 2021[156]. Assets and Liabilities - Total assets at the end of the reporting period reached CNY 11,970,383,514.22, an increase of 8.51% from CNY 11,031,489,226.40 at the end of the previous year[19]. - The total liabilities increased to CNY 1,361,444,303.51 from CNY 1,285,409,515.73, marking a rise of 5.91%[148]. - Total current assets increased to ¥5,345,259,590.71 as of June 30, 2022, up from ¥4,488,169,195.15 at the beginning of the year, representing a growth of approximately 19.2%[139]. - Total liabilities rose to ¥6,946,801,068.25 from ¥6,155,619,160.32, representing an increase of approximately 12.8%[141]. Market Position and Operations - The company maintained a market share of over 90% in tugboat services and 70% in ship-side tallying in Xiamen, indicating its strong competitive position[33]. - The company is positioned as the largest port logistics service provider in Southeast China, with a comprehensive logistics service chain[33]. - The company achieved a total throughput of 1,893.99 million tons in bulk cargo, representing a year-on-year increase of 14.98%[30]. - The company's operational model focuses on integrated port logistics services, combining bulk cargo terminal operations, port services, and trade supply chain[34]. Research and Development - The company's research and development investment surged by 316.04% to CNY 1.68 million, primarily due to an increase in R&D projects and personnel[40]. - Research and development expenses rose significantly to CNY 1,683,414.36, compared to CNY 404,627.83, showing an increase of 316.67%[148]. Environmental and Social Responsibility - The company implemented energy-saving measures, achieving a 60% energy saving rate by replacing high-pressure sodium lamps with LED lights in warehouses and yards[83]. - The company actively engaged in social responsibility initiatives, including tax compliance and employee welfare, while achieving a stable increase in employee income[85]. - The company emphasized ecological civilization construction, increasing investment in environmental protection and implementing hazardous waste management practices[85]. Acquisition and Corporate Governance - Fujian Port Group plans to acquire 100% equity of Xiamen Port Authority Group through state-owned equity transfer, indirectly controlling 68.32% of H-share and 61.89% of A-share listed companies[89]. - The acquisition aims to eliminate potential competition between Fujian Port Group and the listed companies during a 5-year transition period[89]. - The company has established a corporate governance structure including a shareholders' meeting, board of directors, and supervisory board[184]. Compliance and Risk Management - The company and its subsidiaries are not classified as key pollutant discharge units and have complied with environmental regulations without facing penalties[81]. - The company has not reported any adverse financial conditions that would affect the acquisition[90]. - The company emphasizes the importance of internal controls and risk management in its derivative trading activities[64].

证券代码：000905 证券简称：厦门港务 公告编号：2022-30 厦门港务发展股份有限公司 关于参加厦门辖区上市公司2021年年报业绩说明会暨投资 者网上集体接待日活动的公告 本公司及董事会全体成员保证信息披露内容的真实、准确和完整，没有虚假 记载、误导性陈述或重大遗漏。 厦门港务发展股份有限公司（以下简称"公司"）已于2022年3月18日披露 了《2021年年度报告》。为进一步加强与投资者的互动交流，便于广大投资者更 深入全面地了解公司情况，公司将参加由厦门证监局指导，厦门上市公司协会和 深圳市全景网络有限公司联合举办的"2021年年报业绩说明会暨投资者网上集 体接待日"活动，现将相关事项公告如下： 一、活动召开的时间、方式 召开时间：2022年5月10日（周二）14:30-16:00； 会议方式：本次活动将通过深圳市全景网络有限公司提供的网上平台进行， 投资者可以通过"全景网投资者关系互动平台"（http://ir.p5w.net）参与本 次互动交流。 二、参会人员 公司出席本次说明会暨接待日活动的人员有：董事长陈朝辉先生、董事会秘 书蔡全胜先生、财务总监王珉先生。 三、投资者问题征集及方式 为充分尊 ...

厦门港务发展股份有限公司 2022 年第一季度报告 证券代码：000905 证券简称：厦门港务 公告编号：2022-22 厦门港务发展股份有限公司 2022 年第一季度报告 本公司及董事会全体成员保证信息披露的内容真实、准确、完整，没有虚假记载、误导性陈述或重 大遗漏。 重要内容提示: 1.董事会、监事会及董事、监事、高级管理人员保证季度报告的真实、准确、完整，不存在虚假记载、误 导性陈述或重大遗漏，并承担个别和连带的法律责任。 2.公司负责人、主管会计工作负责人及会计机构负责人(会计主管人员)声明：保证季度报告中财务信息的 真实、准确、完整。 3.第一季度报告是否经过审计 □ 是 √ 否 √ 适用 □ 不适用 单位：元 | | | 说明 | | --- | --- | --- | | 项目 | 本报告期金额 | | 1 厦门港务发展股份有限公司 2022 年第一季度报告 一、主要财务数据 (一)主要会计数据和财务指标 公司是否需追溯调整或重述以前年度会计数据 □ 是 √ 否 | 项目 | 本报告期 | 上年同期 | 本报告期比上年同期增减 | | --- | --- | --- | --- | | 营业收入 ...

Financial Performance - The company reported a significant increase in revenue, with a year-on-year growth of 15% in 2021[16]. - The company's operating revenue for 2021 was CNY 23.58 billion, an increase of 50.13% compared to CNY 15.71 billion in 2020[22]. - The net profit attributable to shareholders for 2021 was CNY 239.48 million, representing a growth of 78.62% from CNY 134.07 million in 2020[22]. - The net profit after deducting non-recurring gains and losses was CNY 158.18 million, up 92.15% from CNY 82.32 million in 2020[22]. - The net cash flow from operating activities reached CNY 855.14 million, a 100.78% increase compared to CNY 425.91 million in 2020[22]. - The basic earnings per share for 2021 was CNY 0.3831, reflecting a 76.38% increase from CNY 0.2172 in 2020[22]. - The company reported a net profit margin of 8% for 2021, with plans to improve this to 10% by optimizing cost structures[112]. Dividends and Profit Distribution - The company plans to distribute a cash dividend of 0.55 RMB per 10 shares based on a total of 625,191,522 shares, with no stock bonus[6]. - The total distributable profit for the year was ¥2,171,143,233.95, with cash dividends accounting for 100% of the profit distribution[136]. - The company has committed to distributing cash dividends at a minimum of 30% of the average distributable profit over the last three years[159]. - In the absence of major investment plans, the cash dividend ratio should reach at least 80% during profit distribution[160]. Operational Strategy and Market Position - The company is focusing on expanding its port operations and logistics services to enhance market competitiveness[20]. - The company aims to enhance its supply chain management services to better meet customer demands[20]. - The company is positioned as a key player in the "Belt and Road" initiative and the construction of the Xiamen International Shipping Center[31]. - The company plans to continue expanding its market presence and enhancing service quality through innovation and resource integration[34]. - The company aims to transform from a traditional port logistics enterprise to a modern integrated logistics service provider[34]. - The company is exploring potential mergers and acquisitions to strengthen its competitive position in the logistics sector[107]. Investment and Technology Development - The company is investing in new technologies to improve operational efficiency and service quality in port management[20]. - The company reported a significant increase in research and development expenses, totaling ¥6,997,910.29 in 2021, which is a 189.10% increase from ¥2,420,619.89 in 2020[54]. - The company has invested 50 million RMB in technology upgrades to enhance port automation and reduce turnaround times[113]. - The company plans to enhance its logistics supply chain integration services, focusing on providing comprehensive logistics solutions and expanding its network to overseas markets[84]. Risk Management and Compliance - The company has outlined potential risks in its future development, including market fluctuations and regulatory changes[6]. - The company has established a structured risk control mechanism for its derivative trading activities, including careful selection of trading partners and strict adherence to operational procedures[74]. - The company maintained a governance structure compliant with relevant laws and regulations, ensuring no significant discrepancies with the guidelines set by the China Securities Regulatory Commission[96]. - The company has not encountered any major issues in the integration of subsidiaries during the reporting period[139]. Environmental and Social Responsibility - The company is committed to environmental and social responsibility initiatives as part of its long-term strategy[20]. - The company has actively participated in social responsibility initiatives, organizing 46 volunteer service activities in 2021 with over 700 participants[151]. - The company has implemented measures to reduce carbon emissions, including the use of clean energy and optimizing production processes[148]. - The company has not faced any administrative penalties for environmental issues during the reporting period[147]. Governance and Management - The board of directors consists of nine members, including three independent directors, ensuring compliance with governance requirements[93]. - The company has established independent financial management systems, including separate bank accounts and accounting practices, ensuring financial independence from the controlling shareholder[97]. - The company has a competitive and performance-oriented compensation policy aimed at attracting and retaining talent[130]. - The total remuneration for directors, supervisors, and senior management during the reporting period amounted to 10.4998 million yuan[115]. Future Outlook - Future outlook indicates a projected revenue growth of 15% for the next fiscal year, driven by increased shipping volumes and market expansion strategies[107]. - The company anticipates a total investment and asset acquisition expenditure of 747.02 million yuan in 2022, primarily for the construction of various port facilities and equipment upgrades[87]. - The company expects a revenue growth of 12% for the upcoming fiscal year, driven by increased shipping demand and market expansion[114].

证券代码：000905 证券简称：厦门港务 公告编号：2021-47 厦门港务发展股份有限公司 2021 年第三季度报告 本公司及董事会全体成员保证信息披露的内容真实、准确、完整，没有虚假记载、误导性陈述或重 大遗漏。 重要内容提示: 1.董事会、监事会及董事、监事、高级管理人员保证季度报告的真实、准确、完整，不存在虚假记载、误 导性陈述或重大遗漏，并承担个别和连带的法律责任。 2.公司负责人、主管会计工作负责人及会计机构负责人(会计主管人员)声明：保证季度报告中财务信息的 真实、准确、完整。 3.第三季度报告是否经过审计 □ 是 √ 否 一、主要财务数据 厦门港务发展股份有限公司 2021 年第三季度报告 (一)主要会计数据和财务指标 公司是否需追溯调整或重述以前年度会计数据 □ 是 √ 否 | 项目 | 本报告期 | 本报告期比上年同期 | 年初至报告期末 | 年初至报告期末比 | | --- | --- | --- | --- | --- | | | | 增减 | | 上年同期增减 | | 营业收入（元） | 6,254,798,342.49 | 43.14% | 17,615,149,963.00 | ...

证券代码：000905 证券简称：厦门港务 公告编号：2021-41 厦门港务发展股份有限公司 关于参加2021年度厦门辖区上市公司投资者网上集体接待 日活动的公告 本公司及董事会全体成员保证信息披露内容的真实、准确和完整，没有虚假 记载、误导性陈述或重大遗漏。 为便于广大投资者更深入全面地了解公司情况，促进公司与投资者互动交流， 做好投资者关系管理工作，厦门港务发展股份有限公司（以下简称"公司"）将 于2021年9月7日参加由厦门证监局指导，厦门上市公司协会联合深圳市全景网络 有限公司联合举办的"2021年度厦门辖区上市公司投资者网上集体接待日"活动， 现将有关事项公告如下： 一、活动召开的时间、方式 召开时间：2021年9月7日（周二）15：00-17：00； 会议方式：本次活动将通过深圳市全景网络有限公司提供的网上平台进行， 投资者可以通过"全景网投资者关系互动平台"（http://ir.p5w.net）参与本 次互动交流。 二、参会人员 公司出席本次网上集体接待日活动的人员有：董事长陈朝辉先生、董事会秘 书蔡全胜先生、财务总监王珉先生。 欢迎广大投资者积极参与。 特此公告。 厦门港务发展股份有限公司董 ...

[Important Notice, Table of Contents and Definitions](index=2&type=section&id=%E7%AC%AC%E4%B8%80%E8%8A%82%20%E9%87%8D%E8%A6%81%E6%8F%90%E7%A4%BA%E3%80%81%E7%9B%AE%E5%BD%95%E5%92%8C%E9%87%8A%E4%B9%89) [Company Profile and Key Financial Indicators](index=7&type=section&id=%E7%AC%AC%E4%BA%8C%E8%8A%82%20%E5%85%AC%E5%8F%B8%E7%AE%80%E4%BB%8B%E5%92%8C%E4%B8%BB%E8%A6%81%E8%B4%A2%E5%8A%A1%E6%8C%87%E6%A0%87) The company achieved substantial growth in operating revenue and net profit, primarily driven by trade business, despite a significant decline in operating cash flow [Key Accounting Data and Financial Indicators](index=8&type=section&id=%E5%9B%9B%E3%80%81%E4%B8%BB%E8%A6%81%E4%BC%9A%E8%AE%A1%E6%95%B0%E6%8D%AE%E5%92%8C%E8%B4%A2%E5%8A%A1%E6%8C%87%E6%A0%87) In H1 2021, the company demonstrated strong financial performance with significant growth in revenue and net profit, though operating cash flow turned negative Key Financial Indicators for H1 2021 | Indicator | Current Period | Prior Period | YoY Change | | :--- | :--- | :--- | :--- | | Operating Revenue (RMB) | 11,360,351,620.51 | 6,675,385,940.55 | 70.18% | | Net Profit Attributable to Shareholders (RMB) | 129,268,525.01 | 48,172,326.47 | 168.35% | | Net Cash Flow from Operating Activities (RMB) | -285,878,160.62 | 139,533,848.01 | -304.88% | | Basic EPS (RMB/share) | 0.2068 | 0.0790 | 161.77% | | Weighted Average ROE | 3.64% | 1.41% | 2.23% | | **Indicator** | **Period-End** | **Prior Year-End** | **YoY Change** | | Total Assets (RMB) | 11,985,254,871.99 | 10,432,888,710.94 | 14.88% | | Net Assets Attributable to Shareholders (RMB) | 3,616,029,249.17 | 3,496,582,845.55 | 3.42% | [Non-recurring Gains and Losses and Amounts](index=8&type=section&id=%E5%85%AD%E3%80%81%E9%9D%9E%E7%BB%8F%E5%B8%B8%E6%80%A7%E6%8D%9F%E7%9B%8A%E9%A1%B9%E7%9B%AE%E5%8F%8A%E9%87%91%E9%A2%9D) Non-recurring gains and losses totaled **RMB 26.07 million**, primarily from government subsidies, with net profit attributable to shareholders after non-recurring items reaching **RMB 103 million** - Net profit attributable to shareholders after deducting non-recurring gains and losses was **RMB 103 million**, a **174.22% increase** from **RMB 37.63 million** in the prior period[19](index=19&type=chunk) Non-recurring Gains and Losses for H1 2021 | Item | Amount (RMB) | | :--- | :--- | | Government grants recognized in current profit or loss | 39,282,490.49 | | Other non-operating income and expenses | 13,446,575.41 | | Fair value changes in financial instruments | -8,088,699.89 | | Disposal gains/losses on non-current assets | -239,619.91 | | **Total** | **26,070,728.74** | [Management Discussion and Analysis](index=10&type=section&id=%E7%AC%AC%E4%B8%89%E8%8A%82%20%E7%AE%A1%E7%90%86%E5%B1%82%E8%AE%A8%E8%AE%BA%E4%B8%8E%E5%88%86%E6%9E%90) In H1 2021, the company achieved robust growth in revenue and net profit, driven by port-trade integration, terminal resource consolidation, and new investment income, while actively mitigating risks through market expansion and supply chain integration [Overview of Principal Businesses](index=10&type=section&id=%E4%B8%80%E3%80%81%E6%8A%A5%E5%91%8A%E6%9C%9F%E5%86%85%E5%85%AC%E5%8F%B8%E4%BB%8E%E4%BA%8B%E7%9A%84%E4%B8%BB%E8%A6%81%E4%B8%9A%E5%8A%A1) The company's principal businesses include bulk and general cargo terminal operations, integrated logistics, and commodity trading, with significant revenue and net profit growth driven by effective resource integration and trade expansion - As Xiamen Port's largest integrated logistics service provider, the company holds a dominant position in the tugboat market and a leading role in various port logistics segments, including bulk and general cargo handling, shipping agency, and tallying services[29](index=29&type=chunk) - Its bulk and general cargo terminals handled a total throughput of **19.7181 million tons**, a **16.7% year-on-year increase**[28](index=28&type=chunk) [Analysis of Core Competencies](index=11&type=section&id=%E4%BA%8C%E3%80%81%E6%A0%B8%E5%BF%83%E7%AB%9E%E4%BA%89%E5%8A%9B%E5%88%86%E6%9E%90) The company's core competency lies in its unique ability to provide comprehensive, end-to-end integrated logistics supply chain services at Xiamen Port, maintaining a leading position in various port logistics segments - The company is the sole entity at Xiamen Port capable of providing comprehensive, end-to-end integrated logistics supply chain services, maintaining an industry-leading position across multiple port logistics sub-segments[31](index=31&type=chunk) [Analysis of Principal Operations](index=11&type=section&id=%E4%B8%89%E3%80%81%E4%B8%BB%E8%90%A5%E4%B8%9A%E5%8A%A1%E5%88%86%E6%9E%90) Operating revenue increased by **70.18%**, primarily driven by the trading business which accounted for **91.54%** of revenue, while investment income surged and operating cash flow significantly declined due to increased procurement Key Financial Data Year-on-Year Changes | Item | Current Period (RMB) | Prior Period (RMB) | YoY Change | | :--- | :--- | :--- | :--- | | Operating Revenue | 11,360,351,620.51 | 6,675,385,940.55 | 70.18% | | Operating Cost | 11,005,904,492.38 | 6,432,818,442.84 | 71.09% | | Investment Income | 13,924,983.57 | 434,296.60 | 3106.33% | | Net Cash Flow from Operating Activities | -285,878,160.62 | 139,533,848.01 | -304.88% | | Net Cash Flow from Financing Activities | 832,080,822.11 | -498,306,767.26 | 366.98% | Operating Revenue Composition (by Industry) | Industry | Operating Revenue (RMB) | Share of Operating Revenue | YoY Change | | :--- | :--- | :--- | :--- | | Trading Business | 10,399,613,113.27 | 91.54% | 81.01% | | Port Logistics | 937,614,933.97 | 8.26% | 17.45% | [Analysis of Assets and Liabilities](index=13&type=section&id=%E4%BA%94%E3%80%81%E8%B5%84%E4%BA%A7%E5%8F%8A%E8%B4%9F%E5%80%BA%E7%8A%B6%E5%86%B5%E5%88%86%E6%9E%90) As of the reporting period end, total assets reached **RMB 11.985 billion**, increasing by **14.88%**, with shifts in asset composition and **RMB 435 million** in restricted assets Significant Changes in Asset Composition | Item | Period-End Amount (RMB) | Share of Total Assets | Prior Year-End Amount (RMB) | Share of Total Assets | Change in Share | | :--- | :--- | :--- | :--- | :--- | :--- | | Monetary Funds | 1,043,113,114.78 | 8.70% | 462,080,250.74 | 4.43% | 4.27% | | Accounts Receivable | 1,646,710,040.77 | 13.74% | 1,146,433,549.51 | 10.99% | 2.75% | | Inventories | 1,940,858,753.09 | 16.19% | 1,489,997,082.29 | 14.28% | 1.91% | | Fixed Assets | 3,805,428,331.51 | 31.75% | 3,811,555,175.08 | 36.53% | -4.78% | - As of the reporting period end, the total book value of restricted assets amounted to **RMB 435 million**, primarily comprising deposits, land use rights, and sea area use rights pledged for long-term borrowings[44](index=44&type=chunk) [Analysis of Investment Status](index=15&type=section&id=%E5%85%AD%E3%80%81%E6%8A%95%E8%B5%84%E7%8A%B6%E5%86%B5%E5%88%86%E6%9E%90) The company's investments totaled **RMB 192 million**, primarily in significant non-equity projects like terminal and logistics center construction, alongside derivative investments for risk hedging that incurred a **RMB 6.18 million** loss - Significant ongoing non-equity investment projects include the Gulei Berth 1-2 project and Chaozhou Xiaohongshan Terminal, aimed at enhancing port logistics capabilities[47](index=47&type=chunk)[48](index=48&type=chunk) Summary of Derivative Investments | Item | Amount (RMB 10k) | | :--- | :--- | | Initial Investment Amount | 1,921.72 | | Amount Purchased During Reporting Period | 88,311.53 | | Amount Sold During Reporting Period | 81,141.32 | | Period-End Investment Amount | 6,284.60 | | Actual Gain/Loss During Reporting Period | -618.41 | [Analysis of Major Holding and Participating Companies](index=20&type=section&id=%E5%85%AB%E3%80%81%E4%B8%BB%E8%A6%81%E6%8E%A7%E8%82%A1%E5%8F%82%E8%82%A1%E5%85%AC%E5%8F%B8%E5%88%86%E6%9E%90) Key subsidiaries significantly contributed to overall performance, with Xiamen Port Shipping Co., Ltd., China Xiamen Foreign Agencies Co., Ltd., and Xiamen Port Trading Co., Ltd. reporting substantial net profits and revenue Operating Performance of Major Subsidiaries (H1 2021) | Company Name | Operating Revenue (RMB) | Net Profit (RMB) | | :--- | :--- | :--- | | Xiamen Port Shipping Co., Ltd. | 143,720,991.26 | 42,577,540.91 | | China Xiamen Foreign Agencies Co., Ltd. | 122,047,475.56 | 28,057,369.74 | | Xiamen Port Trading Co., Ltd. | 10,396,091,577.45 | 35,782,344.72 | | Xiamen Port Group Shihushan Terminal Co., Ltd. | 376,552,534.04 | 36,160,474.23 | [Risks Faced by the Company and Countermeasures](index=21&type=section&id=%E5%8D%81%E3%80%81%E5%85%AC%E5%8F%B8%E9%9D%A2%E4%B8%B4%E7%9A%84%E9%A3%8E%E9%99%A9%E5%92%8C%E5%BA%94%E5%AF%B9%E6%8E%AA%E6%96%BD) The company faces risks from global economic uncertainty, slowing port throughput, intense regional competition, and rising operating costs, which it addresses by expanding cargo sources and integrating the logistics supply chain - Major risks:[59](index=59&type=chunk) - Global economic uncertainty and pandemic impact - Slowdown in domestic port cargo throughput growth - Intense regional port competition and limited cargo hinterland - Rising operating costs and transformation pressure on traditional businesses - Countermeasures: The company plans to expand cargo sources through projects like inland ports and sea-rail intermodal transport, integrate the logistics supply chain, and actively pursue market and business expansion to enhance core competitiveness[59](index=59&type=chunk) [Corporate Governance](index=22&type=section&id=%E7%AC%AC%E5%9B%9B%E8%8A%82%20%E5%85%AC%E5%8F%B8%E6%B2%BB%E7%90%86) During the reporting period, the company held two shareholder meetings with over **62%** investor participation, experienced normal board and management changes, and planned no interim profit distribution or capital reserve capitalization - During the reporting period, the company's board of directors underwent re-election, resulting in changes among several directors and independent directors, while the deputy general manager's term expired, and the chief engineer resigned due to work relocation[63](index=63&type=chunk) - The company plans no cash dividends, bonus shares, or capitalization of capital reserves for H1 2021[64](index=64&type=chunk) [Environmental and Social Responsibility](index=24&type=section&id=%E7%AC%AC%E4%BA%94%E8%8A%82%20%E7%8E%AF%E5%A2%83%E5%92%8C%E7%A4%BE%E4%BC%9A%E8%B4%A3%E4%BB%BB) The company and its subsidiaries are not major polluters and received no environmental penalties, actively promoting green port initiatives and fulfilling social responsibilities through ethical operations, employee care, and community engagement - The company and its controlled subsidiaries are not classified as key polluting entities, diligently comply with environmental laws and regulations, and reported no significant environmental violations during the period[68](index=68&type=chunk) - Social responsibility fulfillment:[69](index=69&type=chunk) - Adherence to honest operations and tax compliance - Enhanced investor relations management, safeguarding shareholder and creditor rights - Strengthened port-of-entry epidemic prevention and control measures - Active participation in social responsibility, organizing employee volunteer activities and emergency rescue - Emphasis on ecological civilization construction and increased environmental protection investment [Significant Matters](index=26&type=section&id=%E7%AC%AC%E5%85%AD%E8%8A%82%20%E9%87%8D%E8%A6%81%E4%BA%8B%E9%A1%B9) The company's actual controller changed to Fujian Provincial SASAC, with the indirect controlling shareholder making commitments to avoid horizontal competition, while the company provided **RMB 2.32 billion** in guarantees for subsidiaries and disclosed progress on several trade contract disputes [Commitments](index=26&type=section&id=%E4%B8%80%E3%80%81%E6%89%BF%E8%AF%BA%E4%BA%8B%E9%A1%B9) Due to state-owned equity transfer, the company's indirect controlling shareholder changed to Fujian Provincial Port Group, which committed to resolving potential horizontal competition within five years, while the controlling shareholder reaffirmed its commitment to delineate business scopes between A-share and H-share entities - Due to equity transfer, Fujian Provincial Port Group, the company's new indirect controlling shareholder, committed to resolving horizontal competition issues with the listed company within five years[73](index=73&type=chunk) - Controlling shareholder Xiamen International Port reaffirmed its commitment: the A-share company (Xiamen Port) is positioned as a bulk and general cargo business platform, while the H-share company is positioned as a container business platform, to avoid horizontal competition[77](index=77&type=chunk) [Litigation Matters](index=33&type=section&id=%E5%85%AB%E3%80%81%E8%AF%89%E8%AE%BC%E4%BA%8B%E9%A1%B9) While no major litigation occurred, the company disclosed multiple trade contract disputes involving its subsidiary, Xiamen Port Trading Co., Ltd., with many cases now in the enforcement stage, and some funds recovered or compensated via insurance - The company disclosed multiple trade contract disputes involving its subsidiaries, with amounts ranging from several million to tens of millions of RMB, and most cases have entered the post-judgment enforcement stage[84](index=84&type=chunk)[85](index=85&type=chunk)[86](index=86&type=chunk)[87](index=87&type=chunk)[88](index=88&type=chunk) [Significant Related Party Transactions](index=37&type=section&id=%E5%8D%81%E4%B8%80%E3%80%81%E9%87%8D%E5%A4%A7%E5%85%B3%E8%81%94%E4%BA%A4%E6%98%93) The company engaged in related party debt transactions with its parent company, Xiamen International Port Co., Ltd., primarily through centralized borrowing and lending, resulting in **RMB 2.29 billion** in outstanding debt at period-end, which helps reduce financing costs Related Party Payables | Related Party | Relationship | Reason for Formation | Period-End Balance (RMB 10k) | | :--- | :--- | :--- | :--- | | Xiamen International Port Co., Ltd. | Parent Company | Centralized Borrowing and Lending | 189,007.93 | | Xiamen International Port Co., Ltd. | Parent Company | Centralized Borrowing and Lending | 40,000 | [Significant Contracts and Their Performance](index=38&type=section&id=%E5%8D%81%E4%BA%8C%E3%80%81%E9%87%8D%E5%A4%A7%E5%90%88%E5%90%8C%E5%8F%8A%E5%85%B6%E5%B1%A5%E8%A1%8C%E6%83%85%E5%86%B5) The company has no significant entrustment, contracting, or leasing agreements, but provided **RMB 2.32 billion** in guarantees for subsidiaries, representing **64.15%** of net assets, with **RMB 1.896 billion** for highly leveraged entities Guarantees for Subsidiaries | Item | Amount (RMB 10k) | | :--- | :--- | | Total Approved Guarantee Limit for Subsidiaries at Period-End | 556,355.96 | | Total Actual Guarantee Balance for Subsidiaries at Period-End | 231,982.49 | | Ratio of Actual Total Guarantees to Company's Net Assets | 64.15% | | Debt Guarantee Balance Provided for Guaranteed Parties with Asset-Liability Ratio Exceeding 70% | 189,602.21 | [Changes in Shares and Shareholder Information](index=44&type=section&id=%E7%AC%AC%E4%B8%83%E8%8A%82%20%E8%82%A1%E4%BB%BD%E5%8F%98%E5%8A%A8%E5%8F%8A%E8%82%A1%E4%B8%9C%E6%83%85%E5%86%B5) The company's total share capital remained unchanged at **625,191,522 shares**, with Xiamen International Port Co., Ltd. as the controlling shareholder, and the actual controller changing to Fujian Provincial SASAC on February 25, 2021 - The company's total share capital remained unchanged at **625,191,522 shares**, with restricted shares accounting for **15.07%** and unrestricted shares for **84.93%**[112](index=112&type=chunk) - The company's controlling shareholder is Xiamen International Port Co., Ltd., holding **61.89%** of the company's shares[114](index=114&type=chunk) - The company's actual controller changed to Fujian Provincial State-owned Assets Supervision and Administration Commission on February 25, 2021[117](index=117&type=chunk) [Information on Preferred Shares](index=48&type=section&id=%E7%AC%AC%E5%85%AB%E8%8A%82%20%E4%BC%98%E5%85%88%E8%82%A1%E7%9B%B8%E5%85%B3%E6%83%85%E5%86%B5) The company had no preferred shares during the reporting period - The company had no preferred shares during the reporting period[120](index=120&type=chunk) [Information on Bonds](index=49&type=section&id=%E7%AC%AC%E4%B9%9D%E8%8A%82%20%E5%80%BA%E5%88%B8%E7%9B%B8%E5%85%B3%E6%83%85%E5%86%B5) As of the reporting period end, the company had one outstanding corporate bond, '16 Xiamen Port 02', with a balance of **RMB 113.3 million** maturing on October 25, 2021, and maintained an AA+ credit rating with a stable outlook, demonstrating normal debt repayment capabilities Basic Information on Outstanding Corporate Bonds | Bond Abbreviation | Bond Code | Maturity Date | Bond Balance (RMB 10k) | Interest Rate | | :--- | :--- | :--- | :--- | :--- | | 16 Xiamen Port 02 | 112465 | 2021年10月25日 | 11,330.00 | 3.25% | - Rating agencies maintained the company's corporate credit rating at **AA+** with a stable outlook, and the bond credit rating at **AA+**[126](index=126&type=chunk) Key Solvency Financial Indicators | Item | Period-End/Current Period | Prior Year-End/Prior Period | | :--- | :--- | :--- | | Asset-Liability Ratio | 60.48% | 55.93% | | Interest Coverage Ratio | 3.92 | 3.3 | | Loan Repayment Rate | 100.00% | 100.00% | [Financial Report](index=52&type=section&id=%E7%AC%AC%E5%8D%81%E8%8A%82%20%E8%B4%A2%E5%8A%A1%E6%8A%A5%E5%91%8A) This section presents the company's unaudited H1 2021 financial statements, including consolidated and parent company balance sheets, income statements, cash flow statements, and statements of changes in equity, along with detailed notes on accounting policies, estimates, and financial statement items [Financial Statements](index=52&type=section&id=%E4%BA%8C%E3%80%81%E8%B4%A2%E5%8A%A1%E6%8A%A5%E8%A1%A8) This section provides the company's unaudited consolidated and parent company financial statements, including balance sheets, income statements, cash flow statements, and statements of changes in equity, reflecting the financial position as of June 30, 2021, and H1 2021 operating results and cash flows [Consolidated Balance Sheet](index=52&type=section&id=1%E3%80%81%E5%90%88%E5%B9%B6%E8%B5%84%E4%BA%A7%E8%B4%9F%E5%80%BA%E8%A1%A8) [Consolidated Income Statement](index=58&type=section&id=3%E3%80%81%E5%90%88%E5%B9%B6%E5%88%A9%E6%B6%A6%E8%A1%A8) [Consolidated Cash Flow Statement](index=62&type=section&id=5%E3%80%81%E5%90%88%E5%B9%B6%E7%8E%B0%E9%87%91%E6%B5%81%E9%87%8F%E8%A1%A8) [Significant Accounting Policies and Estimates](index=76&type=section&id=%E4%BA%94%E3%80%81%E9%87%8D%E8%A6%81%E4%BC%9A%E8%AE%A1%E6%94%BF%E7%AD%96%E5%8F%8A%E4%BC%9A%E8%AE%A1%E4%BC%B0%E8%AE%A1) This section details the company's accounting standards, policies, and estimates, notably the adoption of new leasing standards from January 1, 2021, which led to adjustments in opening financial statements and recognition of right-of-use assets and lease liabilities - The company adopted new leasing standards from January 1, 2021, adjusting accounting policies and the opening balance sheet, recognizing new right-of-use assets of **RMB 33.2 million** and lease liabilities of **RMB 33.1 million**[353](index=353&type=chunk) [Notes to Consolidated Financial Statements](index=107&type=section&id=%E4%B8%83%E3%80%81%E5%90%88%E5%B9%B6%E8%B4%A2%E5%8A%A1%E6%8A%A5%E8%A1%A8%E9%A1%B9%E7%9B%AE%E6%B3%A8%E9%87%8A) This section provides detailed notes on consolidated financial statement items, indicating significant increases in accounts receivable and inventory, substantial construction-in-progress balances, and growth in short-term borrowings and accounts payable reflecting business expansion [Interests in Other Entities](index=165&type=section&id=%E4%B9%9D%E3%80%81%E5%9C%A8%E5%85%B6%E4%BB%96%E4%B8%BB%E4%BD%93%E4%B8%AD%E7%9A%84%E6%9D%83%E7%9B%8A) This section discloses the company's interests in subsidiaries, joint ventures, and associates, including 43 consolidated subsidiaries across various sectors like transportation, trade, logistics, and port operations, along with significant non-wholly owned entities and investments in key joint and associate ventures [Risks Related to Financial Instruments](index=172&type=section&id=%E5%8D%81%E3%80%81%E4%B8%8E%E9%87%91%E8%9E%8D%E5%B7%A5%E5%85%B7%E7%9B%B8%E5%85%B3%E7%9A%84%E9%A3%8E%E9%99%A9) The company faces financial instrument risks including credit, liquidity, and market risks, managed through credit assessments, cash management, and hedging, with foreign exchange risk being immaterial due to RMB-denominated transactions and interest rate risk primarily from floating-rate borrowings - The company's credit risk primarily stems from accounts receivable, with maximum exposure equal to the carrying amounts of these instruments, managed through customer credit assessments and regular monitoring[675](index=675&type=chunk) - The company manages liquidity risk through centralized cash management and maintaining ample cash reserves, with most financial liabilities maturing within one year at period-end[682](index=682&type=chunk)[683](index=683&type=chunk) - Interest rate risk primarily arises from long-term bank borrowings with floating rates; a **50 basis point increase** in interest rates would reduce net profit by approximately **RMB 2.2154 million**[686](index=686&type=chunk)