OOIL(HK:00316)2023-03-22 09:24Financial Performance - Total revenue for the year ended December 31, 2022, was $19,820,188 thousand, an increase of 17.7% from $16,832,185 thousand in 2021[2] - Net profit for the year was $9,966,238 thousand, representing a 39.5% increase compared to $7,128,409 thousand in 2021[3] - Basic and diluted earnings per share increased to $15.09 from $11.08, reflecting a growth of 35.5%[2] - The company reported a gross profit of $10,424,580 thousand, compared to $8,175,648 thousand in the previous year, indicating a growth of 27.5%[2] - Operating profit for the year was $10,079,101 thousand, up from $7,380,271 thousand, reflecting a 36.5% increase[2] - The company recorded a net other comprehensive loss of $58,722 thousand for the year, compared to a gain of $13,639 thousand in 2021[3] - The total comprehensive income for the year was $(9,906,695), reflecting a significant loss compared to the previous year's comprehensive income[6] - The company reported a significant increase in interest income, rising to $183,053 from $34,102 in the previous year[5] - The company reported a shareholder profit of $9.965 billion for 2022, an increase from $7.128 billion in 2021, representing a growth of approximately 39.5%[34] Assets and Liabilities - Total assets as of December 31, 2022, reached $20,035,161 thousand, up from $15,846,977 thousand in 2021, marking an increase of 26.8%[4] - The company’s total equity increased to $13,438,898 thousand from $9,671,736 thousand, a growth of 38.5%[4] - The total amount of business receivables, net of impairment provisions, was $438.276 million in 2022, down from $590.170 million in 2021, a decrease of about 25.7%[26] - The total liabilities for accounts payable and accrued items amounted to $3.283 billion in 2022, compared to $2.480 billion in 2021, reflecting an increase of approximately 32.4%[30] - The group’s total liabilities for container transportation and logistics were $6,596,263 thousand in 2022, compared to $6,175,241 thousand in 2021, indicating an increase of about 6.8%[17] Cash Flow and Dividends - Cash and bank balances increased significantly to $11,213,902 thousand from $7,197,101 thousand, a rise of 55.5%[4] - Operating cash flow for 2022 was $11,253,014, an increase of 26.3% from $8,898,841 in 2021[5] - The company paid dividends totaling $6,141,471 to shareholders in 2022, compared to $3,682,084 in 2021, reflecting a 66.7% increase[6] - The company plans to distribute a final dividend of $2.61 per share for the fiscal year 2022, consistent with the previous year[25] - The company plans to distribute a final dividend of $2.61 per share and a second special dividend of $1.95 per share to shareholders on June 29, 2023[39] Business Operations - The group's main business is container transportation and logistics, generating total revenue of $19,820,188 thousand in 2022, up from $16,832,185 thousand in 2021, representing a growth of approximately 17.7%[12] - Container transportation revenue alone reached $19,796,285 thousand in 2022, compared to $16,807,325 thousand in 2021, indicating an increase of about 17.7%[13] - The operating profit for the container transportation and logistics segment was $10,090,263 thousand in 2022, compared to $7,380,271 thousand in 2021, reflecting a significant rise of approximately 36.7%[15] - The logistics business, Orient Overseas Logistics, performed excellently in 2022, with the Freightsmart platform providing valuable new channels for managing supply chain disruptions[36] - The company experienced a decline in freight rates starting in the second half of 2022, following a strong performance in the first half due to port congestion and vessel supply shortages[28] Future Outlook and Strategy - The group plans to continue expanding its market presence and investing in new technologies to enhance operational efficiency[18] - The company anticipates that the economic environment in the U.S. will remain uncertain, with expectations of prolonged recovery affecting demand and imports[28] - The overall market environment is expected to remain challenging in the first half of 2023, with potential improvements dependent on macroeconomic factors and inventory adjustments by importers[37] - The company plans to continue investing in information technology and industry digitization to support sustainable development and enhance shareholder returns[34] Corporate Governance - The company has adopted a customized corporate governance code, ensuring compliance with local and international best practices[45] - The board and management are committed to maintaining high-quality corporate governance, which significantly contributes to corporate success and shareholder value[44] - All directors confirmed compliance with the company's securities trading code and the standard code for the year ended December 31, 2022[46] Shareholder Information - The annual general meeting is scheduled for May 19, 2023, with the notice to be sent to shareholders around April 24, 2023[47] - The 2022 annual report will be published on the Hong Kong Stock Exchange website and the company's website, with distribution to shareholders around April 26, 2023[47] - The company will suspend share transfer registration from May 15 to May 19, 2023, to determine shareholders eligible to attend the annual general meeting on May 19, 2023[42] - The company will not process share transfer registration from May 29 to May 31, 2023, to determine shareholders eligible for the proposed final and second special dividend[42] Employee Information - The company employed 11,188 full-time employees globally as of December 31, 2022, maintaining competitive compensation and benefits[41]