Financial Performance - Tianjin Binhai Teda Logistics reported its audited consolidated financial performance for the year ending December 31, 2024[2]. - The Group's operating income for the year ended December 31, 2024, was approximately RMB 3,710,357,000, representing an increase of approximately 1.66% compared to RMB 3,649,930,000 in 2023[27]. - Profit attributable to equity holders of the Company for the year was approximately RMB 5,898,000, a decrease from RMB 29,778,000 in 2023[27]. - Total comprehensive income attributable to equity holders of the Company was approximately RMB 4,905,000, down from RMB 23,794,000 in 2023[27]. - Basic earnings per share were approximately RMB 0.02, compared to RMB 0.08 in 2023[27]. - As of December 31, 2024, total assets were approximately RMB 1,792,941,000, a decrease from RMB 1,820,788,000 in 2023[28]. - Current assets increased to approximately RMB 893,878,000 from RMB 824,963,000 in 2023, representing an increase of RMB 68,915,000[28]. - Net assets attributable to the parent company were approximately RMB 885,098,000, slightly down from RMB 887,279,000 in 2023[28]. - The Group's total profit for the year ended 31 December 2024 was RMB 5,068,000, a decrease of RMB 25,294,000 or 83.31% compared to RMB 30,362,000 in the previous year[90]. - Profit attributable to equity holders of the Company was RMB 5,898,000, down by RMB 23,901,000 or 80.19% from RMB 29,778,000 in the corresponding period last year[90]. - Total comprehensive income attributable to equity holders decreased to RMB 4,905,000, a decline of RMB 18,889,000 or 79.39% compared to RMB 23,794,000 in the previous year[90]. Governance and Corporate Structure - The board of directors collectively accepts full responsibility for the accuracy and completeness of the information in the report[9]. - The company has a structured governance framework with various committees overseeing audit, remuneration, and nominations[14]. - The Group is committed to transparency and has established a comprehensive corporate governance report[11]. - The Board proposed a final dividend of RMB 0.03 per share for the year ended 31 December 2024, totaling an estimated distribution of RMB 10,629,360[91]. - The Group had a total of 971 employees as of 31 December 2024, a decrease from 1,079 employees as of 31 December 2023[114]. - The Group's employee remuneration policy is based on market rates, individual performance, and experience, with discretionary bonuses awarded for contributions[119][121]. Market Challenges and Strategic Responses - The logistics industry faced challenges due to structural overcapacity and intensified competition, impacting the Group's performance in automotive and electronic component logistics sectors[33]. - The Group implemented strategic measures to enhance cost efficiency and navigate market challenges amid declining demand and service prices[33]. - The overall annual performance of the Group experienced a significant downturn compared to the previous year due to external pressures and internal challenges[33]. - The logistics industry faced significant challenges in 2024, with a notable decline in performance in the automotive logistics and electronic components logistics segments, leading to a substantial decrease in overall annual performance compared to the previous year[34]. - The supply chain and logistics services for finished automobiles and components segment experienced severe challenges, including declining customer output and business losses due to cost reductions, prompting a focus on cost control and new business opportunities[36]. - The Group successfully divested its equity interest in Tedahang Cold Chain Logistics Co., Ltd., exiting the Tianjin frozen warehousing market, while continuing to monitor cold chain logistics development opportunities[38]. - The Group is actively exploring adjustments to the Teda Industrial Park project to adapt to evolving market conditions and support future high-quality development[39]. - The Group aims to enhance profitability in its core logistics business by improving operational efficiency and aligning with national initiatives like the "Belt and Road" strategy[46]. - The Group plans to establish new growth drivers by leveraging resources from shareholders and industry associations to identify new business opportunities[47]. Environmental, Social, and Governance (ESG) Commitment - The company emphasizes the importance of environmental, social, and governance (ESG) factors in its operations[11]. - The Group's approach to sustainability includes measurable key performance indicators (KPIs) to assess its performance in ESG areas[131][134]. - The Group aims for transparency in its reporting, highlighting both achievements and areas for improvement in sustainability performance for 2024[132][135]. - The Group is committed to achieving stable operations while navigating the complexities of the international economic landscape and domestic uncertainties[45]. - The Group's focus for 2025 includes strengthening market competitiveness and advancing high-quality development in its core business operations[53]. - The Group has established an independent governance structure to ensure ESG governance aligns with its business strategy and integrates ESG management into operations and decision-making[138]. - The Board is responsible for all ESG-related issues and policies, holding at least one meeting annually to review materiality, risks, and opportunities related to ESG[140]. - The Group has set internal ESG KPIs to minimize negative environmental impacts, including electricity and fuel consumption per thousand square meters, which are monitored by the Board[149]. - The Group is committed to controlling energy consumption per thousand square meters and reducing dependence on resource consumption in logistics operations[148]. - The ESG Working Group is tasked with executing and monitoring ESG-related work across business units, reporting results to the Board at least once a year[142]. - The Group prioritizes government support and environmental impacts when developing long-term business strategies[144]. - The Group is committed to reducing energy consumption and GHG emissions by optimizing transportation plans and improving transportation technology[181]. - The Group has set new environmental targets to be achieved by December 31, 2027, based on 2022 as the base year[189]. - The Group identifies Sustainable Development Goals 3, 9, and 13 as relevant to its sustainability agenda[175]. - The Group has formulated the "Emergency Management Measures" to enhance risk management related to climate change[182]. - The Group emphasizes the importance of green operations for creating long-term value for the community[188]. - The Group has identified four key ESG issues: safety of goods, occupational health and safety, employee remuneration and benefits, and resources consumption[173]. - The Group conducts regular evaluations of its stakeholders' opinions on sustainability to align its business priorities with stakeholder expectations[174]. - The Group encourages stakeholder feedback on its ESG approach and performance[183]. Operational Metrics and Performance - The overall gross profit margin for the Group was 0.77%, which is 0.90 percentage points lower than the previous year, primarily due to lower gross profit from logistics services for finished automobiles[72]. - The cost of sales for the Group was RMB 3,682 million, an increase of RMB 93 million or 2.59% compared to RMB 3,589 million in the previous year[72]. - The Group's administrative expenses for 2024 were RMB 43,973,000, a decrease of RMB 8,463,000 or 16.14% compared to RMB 52,436,000 in the previous year[73]. - The supply chain and logistics services for electronic components recorded a net operating profit of approximately RMB 28,266,000, with investment income of approximately RMB 13,850,000, a decrease of RMB 9,483,000 or 40.64% compared to the previous year[70]. - The operating results from the materials procurement services amounted to approximately RMB 377,000, a decrease of RMB 3,148,000 or 89.30% compared to the previous year[63]. - The warehouse and multimodal transport business services recorded an operating income of approximately RMB 41,718,000, a decrease of RMB 21,267,000 or 33.77% compared to the previous year, while operating results increased by 129.06%[64]. - Other services recorded an operating income of approximately RMB 12,690,000, a decrease of RMB 2,318,000 or 15.45%, with operating results showing a loss increase of approximately RMB 6,351,000 or 974.08%[65]. - The Group's finance costs for 2024 were RMB 19,610,000, representing a decrease of RMB 1,729,000 or 8.10% from RMB 21,339,000 in the same period last year[79]. - The share of results of joint ventures and associates was RMB 5,557,000, a decrease of RMB 21,035,000 or 79.29% compared to RMB 26,592,000 in the previous year[82]. - The Group disposed of 60% equity interest in its joint venture, Tedahang, for a gain of RMB 24,124,000 during the reporting period[83]. - As of 31 December 2024, the balance of borrowings was RMB 260,119,000, down from RMB 351,909,000 as of 31 December 2023[94]. - The gearing ratio as of 31 December 2024 was 32%, a decrease from 39% as of 31 December 2023[100]. Environmental Performance - In 2024, the total GHG emissions (Scope 1, 2 & 3) amounted to 3,934.7 tCO2e, with an intensity of 5.8 tCO2e/'000 m2, a reduction from 8,626.0 tCO2e and 10.5 tCO2e/'000 m2 in 2023[195]. - Air emissions for SOX decreased to 11.7 kg/'000 m2 in 2024 from 20.4 kg/'000 m2 in 2023, while NOX emissions were 11,689.3 kg/'000 m2 compared to 17,179.1 kg/'000 m2 in the previous year[195]. - The total energy consumption per thousand square meters was maintained at 36.6 MWh/'000 m2, consistent with the previous year's performance[192]. - Non-hazardous wastewater discharge was reported at 15,870.8 m3, with an intensity of 23.4 m3/'000 m2, down from 28,510.4 m3 and 34.8 m3/'000 m2 in 2023[195]. - Non-hazardous waste discharge was recorded at 455.1 tonnes, with an intensity of 0.7 tonnes/'000 m2, a decrease from 648.5 tonnes and 0.8 tonnes/'000 m2 in 2023[195]. - The total floor area of the Group in operation decreased to approximately 678,156.7 m2 in 2024 from 820,347.9 m2 in 2023, impacting intensity calculations[196]. - The Group's hazardous waste generation was reported at 1.2 tonnes, with an intensity of 1.8×10^-3 tonnes/'000 m2, down from 5.1 tonnes and 6.2×10^-3 tonnes/'000 m2 in 2023[195]. - The Group aims to maintain or reduce air emissions and energy consumption per thousand square meters in future operations[192]. - The Group's environmental performance metrics are aligned with national and international reporting standards, ensuring transparency and accountability[196]. - The Group's total air emissions decreased in 2024 compared to 2023[197]. - The Group's total GHG emissions decreased by approximately 54% compared to 2023[198]. - GHG emissions primarily stem from diesel and gasoline consumption of vehicles, natural gas for heating, purchased electricity, and business air travel[198]. - The Group is committed to monitoring and controlling direct emissions from transportation through improved logistical planning and maximizing transportation efficiency[198]. - Drivers are encouraged to maintain good driving habits to reduce fuel loss and lower air emissions[199]. - The Group advises employees to minimize unnecessary business air travel and utilize online communication tools[199]. - The Group aims to adopt more environmentally friendly transportation modes and develop innovative technologies for transportation[198]. - The focus on reducing GHG emissions aligns with the national "30-60 Dual Carbon Target" initiative[198]. - The Group plans to improve energy efficiency by ensuring all vehicles are in good condition[199]. - Additional measures to save electricity and heat energy will be detailed in the "Use of Resources" section[199].
滨海泰达物流(08348) - 2024 - 年度业绩