Financial Performance - In 2024, Jinhui Holdings reported a significant increase in operating revenue from freight and chartering, reaching HKD 1,239,419,000, a 94% increase compared to HKD 638,573,000 in 2023[6] - The company recorded a net profit of HKD 142,183,000 in 2024, a turnaround from a net loss of HKD 461,805,000 in 2023[7] - Basic earnings per share for 2024 were HKD 0.112, compared to a loss per share of HKD 0.512 in 2023[7] - Operating revenue for 2024 reached HKD 1,239,419,000, a significant increase from HKD 638,573,000 in 2023, representing a growth of approximately 94%[31] - The net profit for the year 2024 was HKD 142,183,000, a turnaround from a loss of HKD 461,805,000 in 2023[31] - Basic earnings per share for 2024 was HKD 0.112, compared to a loss of HKD 0.512 per share in 2023[32] - The company achieved a comprehensive operating profit before depreciation and amortization of HKD 543,361,000 in 2024, compared to a loss of HKD 115,784,000 in 2023[181] - Other operating income rose from HKD 61,018,000 in 2023 to HKD 136,608,000 in 2024, primarily due to compensation from a lease contract dispute and realized gains from financial assets[193] Fleet and Operations - The total deadweight tonnage of the fleet increased by 61% from 1.4 million tons to 2.3 million tons[6] - The company has a fleet consisting of 25 owned vessels and 8 chartered vessels as of December 31, 2024[8] - The company operates a fleet of 25 owned vessels and employs 590 crew members as of December 31, 2024[18] - The fleet consisted of 25 owned vessels and 8 chartered vessels, with a total carrying capacity of approximately 2,276,000 tons as of December 31, 2024[185] - The average utilization rate of the fleet slightly decreased to 98% in 2024 from 99% in 2023[183] - The company plans to maintain financial flexibility while enhancing operational competitiveness through the acquisition or leasing of vessels[186] - The company entered into several long-term charter agreements, enhancing fleet flexibility while limiting capital expenditure on vessel acquisitions[190] Charter Rates and Market Conditions - The average daily charter rate improved by 63%, rising from USD 9,063 (approximately HKD 71,000) in 2023 to USD 14,741 (approximately HKD 115,000) in 2024[6] - The Baltic Dry Index averaged a 27% increase year-on-year, reflecting a recovery in the global shipping market[6] - The Baltic Dry Index averaged 1,755 points in 2024, up from 1,378 points in 2023, indicating a recovery in shipping rates[175] Corporate Governance - The company maintained compliance with corporate governance codes as per the listing rules throughout the fiscal year ending December 31, 2024[33] - The board of directors held a minimum of four meetings in 2024, ensuring active participation and oversight of company operations[34] - Independent non-executive directors attended 14 out of 15 board meetings, demonstrating strong engagement in governance[36] - The board consists of seven members, including four executive directors and three independent non-executive directors, ensuring a balanced composition[40] - The chairman and the managing director have clearly defined roles, with the chairman responsible for strategic planning and overall operations oversight[38] - The company adheres to corporate governance code provisions, ensuring that independent non-executive directors constitute more than one-third of the board[41] - The board will regularly review the effectiveness of its arrangements and the distribution of responsibilities to enhance overall corporate governance[38] Risk Management and Internal Controls - The company has established risk management and internal control systems to identify and assess risks, ensuring assets are protected and transactions are authorized by management[65] - An external professional firm conducted a review of the effectiveness of the company's risk management and internal control systems, identifying weaknesses and improvement suggestions[63] - The board is responsible for risk management strategies, including obtaining appropriate insurance coverage to mitigate financial impacts[51] - The board of directors regularly reviews and strengthens its risk management and internal control systems to ensure effective implementation[67] Environmental, Social, and Governance (ESG) Initiatives - The Environmental, Social, and Governance (ESG) report for 2024 focuses on the company's international shipping business and its commitment to sustainable development[92] - The company aims to reduce carbon emissions by at least 40% per transport work by 2030 compared to 2008 levels, as per the revised 2023 IMO greenhouse gas strategy[108] - The company is committed to complying with applicable environmental laws and regulations to minimize adverse environmental impacts[99] - The board is responsible for the ESG strategy and regularly reviews risks, opportunities, performance, and goals related to ESG[99] - The company aims to reduce carbon emissions by 70% in carbon emission density and 50% in greenhouse gases by 2050 compared to 2008 levels[109] Employee Relations and Workforce - As of December 31, 2024, the company employed 74 full-time employees, with 55% being male and 45% being female[88] - The employee turnover rate for 2024 is 1.57%, with male turnover at 0.63% and female turnover at 0.94%[146][147] - The company has a gender equality policy, with 74 full-time employees as of December 31, 2024, compared to 66 in 2023[144] - The average training hours for employees in 2024 are 24.56 hours for males and 24.90 hours for females, with 95% of seafarers receiving training[161] - The company provides various employee benefits, including medical and life insurance, retirement plans, and paid leave[150] Charitable Contributions - The company made charitable donations of HKD 510,000 in 2024, a significant increase from HKD 79,000 in 2023[167] - There were no reports of corruption against the company or its employees in 2023 and 2024, indicating a strong commitment to anti-corruption measures[166]
金辉集团(00137) - 2024 - 年度财报