Workflow
海丰国际(01308) - 2019 - 年度财报
01308SITC(01308)2020-03-26 09:12

Financial Performance - The company reported a revenue of 1,553.7millionfor2019,representinga7.21,553.7 million for 2019, representing a 7.2% increase from 1,449.1 million in 2018[6]. - Profit attributable to shareholders increased by 11.4% to 220.0millionin2019,comparedto220.0 million in 2019, compared to 197.5 million in 2018[6]. - Basic earnings per share rose to 8.29 cents, an increase of 11.4% from 7.44 cents in the previous year[6]. - The net cash flow from operating activities increased by 38.2% to 329.7million,upfrom329.7 million, up from 238.5 million in 2018[6]. - Gross profit amounted to approximately 298.2million,reflectinganincreaseofabout18.1298.2 million, reflecting an increase of about 18.1% year-on-year[14]. - The net profit for the year was 221.5 million, an increase from 199.1millioninthepreviousyear[16].−Totalrevenueincreasedbyapproximately7.2199.1 million in the previous year[16]. - Total revenue increased by approximately 7.2% from 1,449.1 million in 2018 to 1,553.7millionin2019,primarilyduetogrowthinaveragefreightratesandcontainervolumesinthecontainershippingandextendedlogisticsbusiness[17].−Grossprofitrosefrom1,553.7 million in 2019, primarily due to growth in average freight rates and container volumes in the container shipping and extended logistics business[17]. - Gross profit rose from 252.6 million in 2018 to 298.2millionin2019,withthegrossprofitmarginincreasingfrom17.4298.2 million in 2019, with the gross profit margin increasing from 17.4% to 19.2%[17]. Operational Highlights - The company operated 82 container vessels at year-end, an increase of 3 vessels from 79 in 2018[6]. - Container throughput for container shipping and extended logistics reached 2,483,278 TEUs, an increase of 84,109 TEUs from 2,399,169 TEUs in 2018[6]. - The total operating capacity of the fleet reached 117,578 TEUs by the end of 2019, with 57 owned container ships and 25 chartered container ships[14]. - The company operates 68 trade routes, including 9 routes through joint services and 26 routes through container interchange arrangements[14]. - The company completed its first return container service from China to East Malaysia on August 7, 2019, enhancing its international shipping routes[10]. Strategic Initiatives - The "Railway Container to Sea" project was officially launched on June 17, 2019, marking a significant milestone in the company's logistics strategy[10]. - The company signed multiple strategic cooperation agreements with various port authorities and logistics companies during the "Silk Road Maritime International Cooperation Forum" on September 7, 2019[10]. - The company is focused on expanding its service network within Asia and optimizing its operational model to enhance efficiency[13]. - The company aims to become a world-class integrated logistics service provider by continuously improving its organizational processes and information systems[13]. Financial Position - The company’s debt-to-equity ratio was reported at 18%, an increase of 7 percentage points from the previous year[6]. - Current assets decreased by 47.6% to 122.2 million from 233.2millionin2018[6].−Interest−bearingbankborrowingsdecreasedby10.1233.2 million in 2018[6]. - Interest-bearing bank borrowings decreased by 10.1% to 282.0 million from 313.7millionin2018[6].−Thetotalassetsofthegroupincreasedbyapproximately12.7313.7 million in 2018[6]. - The total assets of the group increased by approximately 12.7% from about 1,551.9 million as of December 31, 2018, to approximately 1,749.5millionasofDecember31,2019[30].−Thetotalliabilitiesofthegroupincreasedbyapproximately44.21,749.5 million as of December 31, 2019[30]. - The total liabilities of the group increased by approximately 44.2% from about 506.2 million as of December 31, 2018, to approximately 730.0millionasofDecember31,2019[30].CorporateGovernance−Theauditcommitteeiscomposedofindependentnon−executivedirectors,ensuringcompliancewithcorporategovernancestandards[33].−Thecompanyiscommittedtomaintainingstrictcorporategovernancepracticestoenhanceinvestorconfidenceandaccountability[31].−TheboardofdirectorshasconfirmedcompliancewiththestandardssetoutintheListingRulesfortheentireyearendingDecember31,2019[32].−Thecompanyhasestablishedsixcommittees,includingtheAuditCommittee,NominationCommittee,RemunerationCommittee,RiskManagementCommittee,DisclosureCommittee,andSustainabilityCommittee,tooverseespecificareasofgovernance[93].RiskManagement−Thecompanyhasestablishedacomprehensiveriskmanagementorganizationcoveringvariousbranchesoftheboard,includingriskmanagementandcrisispublicrelationsteams[78].−Thecompanyhasidentifiedkeyrisksanduncertaintiesthatmayimpactitsfinancialconditionandoperationalperformance[77].−Thecompanyhasimplementedaunifiedqualificationreviewforexistingcreditcustomersandstrictapprovalprocessesfornewcreditcustomerstomitigateaccountsreceivablerisks[79].−Thecompanyhasstrengtheneditsriskmanagementregardinghazardousgoodstransportationbystrictlyadheringtosafetymanagementprotocolsandenhancingsupervision[79].ShareholderInformation−TheboardproposedafinaldividendofHK730.0 million as of December 31, 2019[30]. Corporate Governance - The audit committee is composed of independent non-executive directors, ensuring compliance with corporate governance standards[33]. - The company is committed to maintaining strict corporate governance practices to enhance investor confidence and accountability[31]. - The board of directors has confirmed compliance with the standards set out in the Listing Rules for the entire year ending December 31, 2019[32]. - The company has established six committees, including the Audit Committee, Nomination Committee, Remuneration Committee, Risk Management Committee, Disclosure Committee, and Sustainability Committee, to oversee specific areas of governance[93]. Risk Management - The company has established a comprehensive risk management organization covering various branches of the board, including risk management and crisis public relations teams[78]. - The company has identified key risks and uncertainties that may impact its financial condition and operational performance[77]. - The company has implemented a unified qualification review for existing credit customers and strict approval processes for new credit customers to mitigate accounts receivable risks[79]. - The company has strengthened its risk management regarding hazardous goods transportation by strictly adhering to safety management protocols and enhancing supervision[79]. Shareholder Information - The board proposed a final dividend of HK0.27 per share for the year ended December 31, 2019[14]. - The proposed final dividend is HKD 0.27 per share, equivalent to USD 0.0347, subject to shareholder approval at the annual general meeting on April 29, 2020[31]. - As of December 31, 2019, the company's distributable reserves amounted to approximately USD 507.9 million[46]. - The company maintained a customer-centric culture, focusing on building relationships with blue-chip companies globally[46]. Compliance and Audit - Ernst & Young audited the consolidated financial statements, affirming they fairly reflect the group's financial position as of December 31, 2019[110]. - The auditor's report provides reasonable assurance that the financial statements are free from material misstatement, but cannot guarantee detection of all errors[116]. - The company must assess its ability to continue as a going concern and disclose relevant matters if applicable[115]. - The independent non-executive directors have confirmed that the continuing connected transactions were conducted in the ordinary course of business and on normal commercial terms[76]. Sustainability and Environmental Practices - The company is focused on sustainable development and risk management, with key committee members actively involved in these areas[39]. - The company has adopted measures to reduce environmental pollution, such as lowering fuel consumption and enhancing machinery maintenance[80]. - The company is actively promoting energy-saving and environmentally friendly practices, achieving significant results in environmental management[80]. - The company’s sustainability committee is responsible for overseeing policies related to health and safety, community relations, and environmental issues, ensuring alignment with global sustainability standards[95].