NJTC(601975)2024-03-25 16:00Leasing Agreements - The company signed a 10-year lease agreement with ICBC Financial Leasing Co., Ltd. for the FOREVER CORDIALITY and FOREVER CONFIDENCE vessels, starting from November 25, 2022[2]. - The company entered into a leasing agreement for a 25,000-ton chemical tanker with Hai Long No. 2 (Tianjin) Leasing Co., Ltd. on September 10, 2021, with a lease term of 7 years, which was completed on July 24, 2023[2]. - A leasing contract was signed with Shandong Port and Shipping Oil Transportation Co., Ltd. for the Daqing 454 vessel, effective from August 25, 2022, with a lease term of 3+2 years[2]. - The company has signed three leasing agreements with Guoyin Financial Leasing Co., Ltd. for vessels CL XUNYANG, CL YINGDU, and CL ZHAOGE, with lease terms starting from December 23, 2023, January 17, 2024, and December 30, 2023, respectively, each having a term of 1 year plus two optional years[2]. Financial Performance - Total operating revenue for 2023 was CNY 6,196,600,296.92, a slight decrease of 1.08% compared to CNY 6,264,414,542.28 in 2022[30]. - Total operating costs decreased to CNY 4,354,224,374.05, down 4.97% from CNY 4,582,671,972.05 in the previous year[30]. - Net profit for 2023 was CNY 834,648,481.92, an increase of 9.06% from CNY 765,249,790.22 in 2022[32]. - Basic earnings per share for 2023 increased, reflecting improved profitability[32]. - The company reported a significant increase in interest income to CNY 48,232,914.36, up from CNY 14,869,802.81 in 2022[30]. - The company’s net profit for 2023 reached ¥1,568,441,145.14, an increase from ¥1,447,236,591.46 in the previous year, representing a growth of approximately 8.34%[61]. - The company's operating revenue for 2023 was approximately ¥3.23 billion, a decrease of 4.4% from ¥3.38 billion in 2022[62]. - The net profit for 2023 reached approximately ¥834.65 million, representing an increase of 9.1% compared to ¥765.25 million in 2022[62]. Assets and Liabilities - Total assets increased to CNY 11,647,545,698.50 in 2023, up from CNY 10,518,714,117.66 in 2022, representing a growth of approximately 10.7%[27]. - Non-current assets totaled CNY 7,433,428,049.86 in 2023, compared to CNY 7,075,526,107.70 in 2022, indicating an increase of about 5.1%[27]. - Current liabilities decreased to CNY 844,939,407.45 in 2023 from CNY 1,365,063,121.69 in 2022, a reduction of approximately 38.1%[27]. - Long-term borrowings rose to CNY 1,248,669,680.00 in 2023, up from CNY 1,069,659,075.45 in 2022, reflecting an increase of about 16.7%[27]. - Total liabilities decreased to CNY 2,498,112,086.23 in 2023 from CNY 2,985,889,333.26 in 2022, a decline of approximately 16.3%[27]. - Owner's equity remained stable at CNY 4,852,783,848.00 in both 2023 and 2022[27]. Cash Flow and Investments - Cash and cash equivalents at the end of 2023 reached CNY 3,061,289,340.46, up from CNY 2,083,185,742.56 at the end of 2022[33]. - Net cash flow from investing activities was negative at CNY -1,087,312,994.81, compared to CNY -669,689,917.49 in 2022, indicating increased investment outflows[33]. - Cash flow from financing activities showed a net outflow of CNY -424,877,381.87, slightly improved from CNY -454,006,260.12 in the previous year[33]. - The cash flow from operating activities for 2023 was approximately ¥2.46 billion, an increase of 25.6% from ¥1.96 billion in 2022[63]. Shareholder Information - There were no changes in the total number of shares or the capital structure during the reporting period[6]. - No changes occurred in the top ten shareholders compared to the previous period[10]. - The company holds significant stakes in various listed companies, including 74.35% in China Merchants Jinling Shipyard and 69.15% in Liaoning Port Co., Ltd.[13]. Operational Highlights - The company is primarily engaged in the transportation of crude oil, refined oil, chemicals, and gases, with operations extending to various international and domestic routes[71]. - The company has expanded its business to include crew labor services and fuel supply, utilizing both owned and contracted crew members[71]. - The company’s operations include time-charter shipping, market pool operations, and voyage chartering, enhancing its market presence[71]. - The company aims to enhance its core competitiveness by focusing on specialized and differentiated services in the liquid cargo transportation sector[181]. - The company operates a fleet of 68 vessels with a total deadweight tonnage of 2.52 million tons, primarily engaged in the transportation of crude oil, refined oil, chemicals, and gases[181]. Market and Strategic Initiatives - The company plans to continue expanding its market presence and investing in new technologies to drive future growth[30]. - The company has identified strategic opportunities for mergers and acquisitions to enhance its competitive position in the market[30]. - The company has a focus on expanding its market reach in Southeast Asia, Northeast Asia, and Australia for crude oil and refined oil transportation[71]. - The company is well-positioned to leverage its dual trade capabilities to mitigate market risks and enhance competitiveness[184].