Financial Performance - The company's revenue for 2022 was HKD 13,017 million, a decrease of 25.3% from HKD 17,371 million in 2021[16]. - The profit attributable to shareholders for 2022 was HKD 345 million, down 62.6% from HKD 923 million in 2021[16]. - The company's total assets as of December 31, 2022, were HKD 42,211 million, down from HKD 46,302 million in 2021[16]. - The cash inflow from operating activities for 2022 was HKD 3,088 million, compared to HKD 3,535 million in 2021[16]. - The gross profit for 2022 was HKD 3.337 billion, down 12.9% from HKD 3.831 billion in 2021[35]. - The total revenue from the cargo handling business was HKD 7.384 billion, down 4.9% year-on-year, with a revenue decline of 1.1% when calculated in RMB[44]. - The sales business revenue was HKD 2.979 billion, a significant decrease of 56.0% year-on-year, primarily due to the sale of a subsidiary in August 2021[49]. - The group's total sales cost for the year was HKD 9.672 billion, a decrease of 28.5% compared to the previous year[42]. Debt and Financial Stability - The debt ratio improved to 28.0% in 2022 from 33.8% in 2021, indicating better financial stability[16]. - Total borrowings amounted to HKD 8.291 billion as of December 31, 2022, down from HKD 10.333 billion a year earlier, with 73.5% denominated in RMB[63]. - The debt-to-equity ratio was 28.0% as of December 31, 2022, compared to 33.8% on December 31, 2021, indicating improved financial stability[64]. - The group incurred a foreign exchange loss of HKD 205 million in 2022 due to significant fluctuations in the RMB exchange rate, compared to a foreign exchange gain of HKD 58 million in 2021[67]. - The current ratio improved to 1.3 as of December 31, 2022, from 1.2 a year prior, reflecting better short-term liquidity[64]. Operational Capacity and Throughput - In 2022, the total throughput of Tianjin Port was 241.03 million tons for bulk cargo and 19.83 million standard containers, with a slight decrease in container throughput compared to 2021[16]. - The total cargo throughput for the year 2022 was 443 million tons, a year-on-year increase of 0.2%[34]. - The total container throughput was 19.83 million TEUs, a year-on-year decrease of 1.8%[34]. - The total throughput of bulk cargo reached 24.103 million tons, an increase of 1.0% compared to the previous year, with a comprehensive average price of HKD 29.9 per ton, up 3.4% year-on-year[45][46]. - The total throughput of container handling was 1.983 million TEUs, a decrease of 1.8% year-on-year, with a revenue of HKD 1.999 billion, down 23.4% year-on-year[47][48]. Strategic Initiatives and Future Plans - The company aims for a GDP growth target of around 5% for 2023, supported by ongoing economic stabilization policies[38]. - The company plans to enhance operational efficiency and strengthen cost control while focusing on green and low-carbon development[39]. - The company will continue to deepen market development and improve port service functions in 2023[39]. - Capital expenditures for 2022 were HKD 1.148 billion, primarily for the construction and renovation of terminals and yards[69]. Corporate Governance - The company is committed to maintaining high standards of corporate governance through the involvement of independent directors in key committees[83][85]. - The board consists of eight members, including five executive directors and three independent non-executive directors[96]. - The company has adopted a board diversity policy and will continue to consider various diversity aspects, including gender, age, and professional experience, in future appointments[109]. - The company emphasizes compliance with corporate governance codes and conducts annual reviews of its governance policies[128]. - The board confirmed that the group has sufficient financial resources to continue operating for the foreseeable future, based on current financial forecasts and available financing[130]. Shareholder Communication and Engagement - The company emphasizes regular communication with shareholders to enhance long-term shareholder value and has established a shareholder communication policy[151]. - Shareholders can submit written inquiries to the board via the company's main business address or email, promoting direct communication[145]. - A special general meeting can be convened upon the request of shareholders holding at least 10% of the voting rights, with specific procedures outlined for such requests[146]. - The company encourages shareholder participation in annual general meetings and allows for proxy representation if shareholders cannot attend[156]. Management and Leadership - The company’s management is responsible for daily operations, overseen by the executive directors[99]. - The company’s financial management is led by a qualified CFO with extensive experience in auditing and compliance[91]. - The management team is composed of professionals with diverse backgrounds in finance, law, and engineering, ensuring a well-rounded approach to business challenges[80][81][82]. - The board of directors held a total of six meetings in 2022, with attendance rates for executive directors ranging from 50% to 100%[101][102].
天津港发展(03382) - 2022 - 年度财报