2019-03-29 16:00Financial Performance - The company's operating revenue for 2018 was CNY 16,337,862,935.56, a decrease of 2.49% compared to 2017[17]. - The net profit attributable to shareholders for 2018 was CNY 1,386,171,368.55, down 5.18% from the previous year[17]. - Basic earnings per share for 2018 were CNY 0.1186, a decline of 5.20% compared to 2017[18]. - The weighted average return on equity decreased by 1.90 percentage points to 8.35% in 2018[18]. - The total assets at the end of 2018 were CNY 137,837,424,339.45, a slight decrease of 0.86% from 2017[17]. - The net assets attributable to shareholders increased by 10.84% to CNY 18,040,136,634.21 at the end of 2018[17]. - The company reported a total of CNY 292,621,308.32 in non-recurring gains and losses for 2018[24]. - The company's EBITDA for 2018 was CNY 9,261,326,875.20, representing a 10.34% increase compared to CNY 8,393,332,444.60 in 2017[183]. Cash Flow and Investments - The net cash flow from operating activities decreased by 45.10% to CNY 6,549,203,721.84 in 2018[17]. - The company experienced a significant drop in cash flow from operating activities in the first quarter, reporting a negative cash flow of CNY -1,210,957,252.50[23]. - The company's net cash inflow from operating activities in 2018 was RMB 6,549.20 million, a decrease of 45.10% from RMB 11,929.54 million in the previous year[49]. - The company invested RMB 4,252.74 million in acquiring containers, machinery, and other expenditures, and RMB 15,776.46 million in purchasing leasing assets as of December 31, 2018[46]. - The company has a total of RMB 2,177.59 million in property leasing expenses under the service agreement with China COSCO Shipping Group, with a limit of RMB 5,000 million[100]. Dividends and Profit Distribution - The company plans to distribute a cash dividend of RMB 0.33 per 10 shares (including tax) to all shareholders based on the total share capital after deducting repurchased shares[4]. - In 2018, the cash dividend distribution accounted for 27.70% of the net profit attributable to ordinary shareholders in the consolidated financial statements, which was RMB 1.386 billion[82]. - The company has established a cash dividend policy prioritizing cash distributions, with a minimum of 10% of the distributable profit to be distributed annually over the next three years, provided there are no significant cash expenditures[80]. - The company aims to maintain a continuous and stable profit distribution policy while considering long-term interests and sustainable development[80]. Risk Management - The report includes a risk statement indicating that future plans and development strategies do not constitute a substantive commitment to investors, highlighting investment risks[5]. - The company has identified strategic risks related to market environment changes and has implemented risk management procedures to monitor these risks[77]. - The company faces industry competition risks in the leasing sector and plans to leverage its shipping finance capabilities to establish a comprehensive financial service platform[77]. - The company has set concentration risk limits based on overall risk tolerance, capital, and asset scale to manage risks at the corporate level[77]. - The company recognizes the challenges posed by macroeconomic uncertainties and is enhancing its risk monitoring and management systems[75]. Corporate Governance and Compliance - 中远海运集团承诺在控股期间保持与上市公司相互独立，确保不干预上市公司经营决策[84]. - 中远海运集团承诺不从事与中远海发主营业务构成实质性竞争的业务活动[84]. - 中远海运集团承诺避免与上市公司之间不必要的关联交易，并确保关联交易的公允性和合规性[85]. - 中远海运集团保证中远海发拥有独立的财务部门和财务核算体系，确保财务独立性[85]. - 中远海运集团承诺中远海发在资产、人员、财务、机构和业务方面保持完全独立[85]. - 中远海运集团承诺如出现同业竞争，将放弃相关业务机会，确保中远海发及其他股东权益不受损害[84]. - The company has established a governance structure that complies with relevant laws and regulations, ensuring effective decision-making and accountability[168]. Environmental and Social Responsibility - The total emission control indicators for air pollutants are set at VOCs 50.47 tons/year and dust 7.2 tons/year[122]. - The wastewater discharge control indicators include a total wastewater volume of 22,800 tons/year, with COD at 3.9 tons/year, SS at 3.72 tons/year, ammonia nitrogen at 0.621 tons/year, and total phosphorus at 0.0344 tons/year[122]. - The company invested 4,000,000 in targeted poverty alleviation efforts in Yungde County, contributing to local economic development[117]. - The company reported a total investment of 416.41 million in industrial poverty alleviation projects[118]. - The company plans to continue its poverty alleviation efforts in 2019, focusing on vulnerable groups and community engagement[119]. Shareholder Information - The largest shareholder, China Ocean Shipping Group Co., Ltd., holds 4,410,624,386 shares, representing 37.75% of the total shares[141]. - HKSCC Nominees Limited decreased its holdings by 2,066,350 shares, ending with 3,731,588,125 shares, or 31.94%[141]. - Guoxin Investment Co., Ltd. reduced its holdings by 8,802,657 shares, holding 458,002,343 shares, or 3.92%[141]. - The total number of shareholders at the end of the reporting period is not disclosed[138]. Audit and Financial Reporting - The company has engaged Xinyong Zhonghe Accounting Firm to provide a standard unqualified audit report for the financial statements[3]. - The audit procedures included analytical procedures and detailed testing to verify the completeness and accuracy of revenue recognition[188]. - The audit firm evaluated the appropriateness of accounting policies and estimates made by management, particularly regarding the expected credit loss model for long-term receivables[194]. - The internal control self-assessment report was disclosed on March 30, 2019, indicating no significant deficiencies[176]. Employee and Management Information - The total remuneration for directors, supervisors, and senior management during the reporting period amounted to 16.6581 million RMB (pre-tax)[160]. - The company employed a total of 8,082 staff, including 77 senior technical personnel, 764 intermediate technical personnel, and 6,429 other employees[163]. - The remuneration for senior management is determined based on company performance management principles[164]. - The company has implemented a comprehensive training system to enhance employee skills across various business areas[165].