Financial Performance - For the year ending December 31, 2024, the revenue was approximately $1,340.4 million, an increase of about 53.3% compared to the previous year[3] - The gross profit for the year ending December 31, 2024, was approximately $315.0 million, compared to a gross loss of approximately $33.8 million in 2023[3] - The profit attributable to equity shareholders for the year ending December 31, 2024, was approximately $365.9 million, representing an increase of approximately 1,666.9%[3] - Basic earnings per share for the year ending December 31, 2024, were approximately $0.254, compared to $0.015 in 2023[3] - The total comprehensive income for the year ending December 31, 2024, was approximately $366.4 million, compared to $20.6 million in 2023[5] - Pre-tax profit for 2024 was reported at $365,913,000, a substantial increase from $20,709,000 in 2023[22] - Basic earnings per share rose to $0.253 in 2024, compared to $0.015 in 2023, indicating a significant improvement[22] - The profit attributable to equity shareholders increased significantly by approximately 1,666.9% from about $20.7 million for the year ended December 31, 2023, to about $365.9 million for the year ended December 31, 2024[46] Revenue Breakdown - The company reported a significant increase in container shipping service revenue to approximately $1,270.8 million in 2024 from $801.7 million in 2023[11] - Revenue from Hong Kong increased to $86,011,000 in 2024 from $62,419,000 in 2023, representing a growth of 37.9%[16] - Revenue from mainland China surged to $616,134,000 in 2024, up from $228,838,000 in 2023, marking a significant increase of 169.5%[16] - Total revenue for 2024 reached $1,340,398,000, compared to $874,602,000 in 2023, reflecting an overall growth of 53.2%[16] - Total revenue from container shipping services was approximately $1,270.8 million for the year ended December 31, 2024, reflecting a growth of about 58.5% year-over-year[33] Assets and Equity - Non-current assets as of December 31, 2024, amounted to approximately $1,737.5 million, an increase from $1,342.7 million in 2023[6] - The total equity attributable to equity shareholders as of December 31, 2024, was approximately $1,974.7 million, compared to $1,771.4 million in 2023[6] - As of December 31, 2024, the net current assets were approximately $353.1 million, down from $561.4 million in 2023, with cash and cash equivalents at about $422.1 million[51] Dividends - The company declared a final dividend of $0.110 per share for the year ending December 31, 2024[3] - The company declared an interim dividend of $0.214 per share for 2024, down from $0.286 per share in 2023[21] - The company will propose a final dividend of $0.110 per share for the year ending December 31, 2024, totaling $183.2 million, subject to shareholder approval at the annual general meeting on May 29, 2025[71] - The final dividend is expected to be paid on July 9, 2025, to shareholders listed on June 9, 2025[71] Operational Metrics - The total shipping volume of the company reached 1,652,222 TEU for the year ended December 31, 2024, representing an increase of approximately 12.7% compared to the same period in 2023[33] - The average freight rate increased from approximately $547 per TEU in 2023 to about $769 per TEU in 2024, marking a rise of approximately 40.6%[37] - The total shipping volume in the Asia-Oceania market reached 129,923 TEU in 2024, a growth of approximately 25.5% compared to 2023, with revenue of about $195.3 million, up 96.5% year-over-year[34] Expenses and Costs - Other income increased by approximately 478.1% to about $71.0 million in 2024, primarily due to an increase in charter income from $9.3 million in 2023 to $67.8 million in 2024[40] - Administrative and other operating expenses decreased by approximately 6.2% to about $41.5 million in 2024, mainly due to a reduction in listing expenses[42] - Financial costs net decreased by approximately 57.2% to about $19.0 million in 2024, attributed to a decline in bank interest income[43] - The total employee compensation cost for the year ended December 31, 2024, was approximately $70.1 million, an increase from $66.5 million in 2023[63] Market Conditions - The global shipping market in 2024 faces challenges such as geopolitical tensions and rising fuel costs, while demand for green low-carbon vessels is increasing[29] - The global container market demand growth rate is expected to remain between 3% and 4% by 2025, with potential fluctuations in freight rates due to supply-demand changes and geopolitical influences[30] Corporate Governance - The company has complied with the corporate governance code and has established appropriate checks and balances, although the roles of Chairman and CEO are held by the same individual, Mr. Chen[68] - The audit committee has reviewed the consolidated financial statements for the year ending December 31, 2024, and confirmed compliance with relevant accounting standards[69] - The company has adopted the standard code for securities transactions by directors and confirmed compliance by all directors for the year ending December 31, 2024[67] Future Outlook - The company will publish its annual report for the year ending December 31, 2024, on the Hong Kong Stock Exchange and its website[73] - The annual general meeting will be held on May 29, 2025, with a suspension of share registration from May 26 to May 29, 2025, to determine eligibility for attendance and voting[72] - There were no significant events affecting the group after December 31, 2024[66] - The company has not reported any major matters affecting its operations post the reporting period[66]
德翔海运(02510) - 2024 - 年度业绩