2026-03-31 04:02Financial Performance - Profit attributable to equity holders was HKD 6.457 billion, a decrease of 18.5% year-on-year (2024: HKD 7.919 billion) [4] - Basic earnings per share were HKD 1.538, down 18.5% year-on-year (2024: HKD 1.886) [4] - The net profit for the year was HKD 7.688 billion, down from HKD 9.081 billion in 2024 [6] - The group reported a profit attributable to equity holders of HKD 6,457 million in 2025, down from HKD 7,919 million in 2024, resulting in basic earnings per share of HKD 1.54 [30] - The attributable profit to equity holders decreased by 18.5% year-on-year to HKD 6.457 billion, while recurring profit fell by 13.8% to HKD 6.511 billion [59] Revenue and Growth - Revenue for the year was HKD 13.354 billion, an increase from HKD 11.842 billion in 2024 [5] - The total revenue for 2025 reached HKD 13,354 million, a 13.0% increase from HKD 11,842 million in 2024 [13] - Revenue from port operations amounted to HKD 12,447 million in 2025, up 13.2% from HKD 10,992 million in 2024 [13] - The revenue from warehousing services increased to HKD 705 million in 2025, representing a growth of 10.3% compared to HKD 639 million in 2024 [13] - The group’s revenue for the year ended December 31, 2025, was HKD 13.354 billion, an increase of 12.8% year-on-year, driven by business volume growth [59] Container Throughput - The total container throughput reached 151.29 million TEUs, an increase of 3.8% year-on-year (2024: 145.75 million TEUs) [4] - The group’s container throughput reached 151.29 million TEU in 2025, representing a year-on-year growth of 3.8% [48] - The container throughput in mainland China, Hong Kong, and Taiwan was 112.35 million TEU, up 3.2% year-on-year, driven by growth in the Shenzhen Western Port Area and the Yangtze River Delta [48][47] - The overseas port projects achieved a container throughput of 38.94 million TEU, reflecting a year-on-year increase of 5.7%, with significant contributions from Brazil and Turkey [55][47] - The Shenzhen Western Port Area completed a container throughput of 15.17 million TEU, a 3.3% increase year-on-year, benefiting from increased cargo volume from emerging markets [49] Assets and Liabilities - Total assets increased to HKD 177.534 billion from HKD 169.474 billion in 2024 [7] - Total assets as of December 31, 2025, amounted to HKD 177,534 million, with significant contributions from the port business and bonded logistics [20] - Total liabilities were reported at HKD 50,496 million, with a notable portion attributed to tax liabilities and deferred tax liabilities [20] - The group’s total assets as of December 31, 2025, increased by 4.8% to HKD 177.534 billion, while total liabilities rose by 5.1% to HKD 50.496 billion [59] Capital Expenditure - Capital expenditure for the year was HKD 1,141 million, reflecting ongoing investment in operations [17] - Capital expenditures for the year were HKD 1,478 million, demonstrating the company's commitment to growth and infrastructure development [18] Dividends - The company proposed a final dividend of HKD 0.489 per share, down from HKD 0.636 per share in 2024 [4] - The proposed final dividend for 2025 is HKD 0.489 per share, totaling HKD 2,053 million, compared to HKD 2,670 million for HKD 0.636 per share in 2024 [29] Operational Efficiency - The company reported a net financing cost of HKD 1.171 billion, a decrease from HKD 1.319 billion in 2024 [5] - The operating profit before financing costs, taxes, and share of profits from associates and joint ventures was HKD 5,276 million for the year ended December 31, 2025 [17] - The operating profit before financing costs, taxes, and share of profits from associates and joint ventures was HKD 5,084 million, reflecting a strong performance across various segments [18] - The group has optimized its operational processes and cost control measures, laying a solid foundation for overall operational quality improvement [44] Employee and Talent Management - The group employed 8,683 full-time employees as of December 31, 2025, with a total salary expenditure of HKD 2.315 billion, accounting for 28.3% of total operating expenses [68] - The group is focused on high-quality development, implementing a performance-based compensation system that aligns with market standards and industry benchmarks [69] - The group has initiated the "International Elite Talent Recruitment Program" to attract overseas talent with international perspectives and professional advantages [68] ESG and Sustainability Initiatives - The group is focusing on ESG initiatives, integrating climate change and biodiversity into daily operations to maintain the highest international ESG ratings in the port industry [46] - The group has implemented new ESG initiatives, aiming for a 30% reduction in carbon emissions by 2026 [97] - The group has made significant progress in green energy services, completing LNG ship-to-ship refueling operations for the first time at the Shenzhen Western Port Area [45] - The group has developed a comprehensive "battery swap + charging" network to support green energy infrastructure [45] - The group has implemented a "Mangrove Restoration Plan" to mitigate environmental impacts from construction projects, committing to double the area of mangroves replanted [71] Market and Economic Outlook - In 2025, global economic growth is projected at 3.3%, with developed economies growing at 1.7% and emerging markets at 4.4% [35] - China's GDP is expected to grow by 5.0% in 2025, achieving major development goals despite complex internal and external conditions [36] - The global economy is projected to grow by 3.3% in 2026, maintaining the same rate as 2025, with global trade expected to increase by 2.6%, down 1.5 percentage points from 2025 [77] Corporate Governance - The audit committee, composed of four independent non-executive directors, reviewed the financial statements for the year ending December 31, 2025 [83] - The company has adhered to corporate governance codes and will continue to review and update its practices to reflect best standards [86]