Financial Performance - Revenue for the year was HKD 13.484 billion, an increase from HKD 13.017 billion in the previous year[5] - Profit attributable to equity holders was HKD 729 million, compared to HKD 345 million in the prior year[4] - Basic earnings per share were HKD 0.118, up from HKD 0.056[6] - The company reported a total comprehensive income of HKD 1.19 billion, recovering from a loss of HKD 1.57 billion in the previous year[6] - The total revenue for 2023 was HKD 13,484 million, an increase of 3.6% from HKD 13,017 million in 2022[33] - The gross profit for 2023 was HKD 3,698 million, reflecting a 10.8% increase compared to HKD 3,337 million in 2022[33] - The profit attributable to shareholders for 2023 was HKD 729 million, a significant increase of 111.0% from HKD 345 million in 2022[33] - The effective tax rate for the group is 25%, with certain subsidiaries benefiting from reduced rates due to tax exemptions[24] Revenue Breakdown - Revenue from external customers for the cargo handling segment was HKD 7,418,369 thousand, compared to HKD 7,383,756 thousand in the previous year, indicating a slight increase of 0.5%[18][19] - The performance of the cargo handling segment showed a profit before tax of HKD 2,390,001 thousand, up from HKD 2,047,746 thousand in 2022, representing an increase of approximately 16.7%[18][19] - Other port ancillary services generated revenue of HKD 3,079,384 thousand, a decrease from HKD 3,091,717 thousand in 2022, reflecting a decline of about 0.4%[18][19] - The revenue from the sales business increased by 16.5% to HKD 3.471 billion, driven by higher sales volume[44] - The revenue from container handling business rose by 5.9% to HKD 2.116 billion, attributed to increased throughput[42] Operational Metrics - Total cargo throughput reached 445 million tons, with container throughput at 20.02 million TEUs[3] - The total cargo throughput for 2023 was 445 million tons, a 0.5% increase from 443 million tons in 2022[32] - The total container throughput for 2023 was 20.02 million TEUs, up 1.0% from 19.83 million TEUs in 2022[32] Assets and Liabilities - Total assets decreased to HKD 40.62 billion from HKD 42.21 billion year-on-year[8] - Total liabilities reduced to HKD 10.34 billion from HKD 12.56 billion[8] - Non-current assets amounted to HKD 31.83 billion, slightly down from HKD 31.98 billion[7] - Cash and cash equivalents decreased to HKD 6.37 billion from HKD 7.95 billion[7] - The debt-to-equity ratio improved to 18.8% from 28.0% year-on-year[53] Dividends - Proposed final dividend per share is HKD 0.0473, with a payout ratio of approximately 40%[3] - The proposed final dividend for 2023 is HKD 0.0473 per share, compared to HKD 0.0224 per share in 2022[25] Other Financial Information - Other income for 2023 totaled HKD 168,660 thousand, significantly lower than HKD 374,602 thousand in 2022, marking a decrease of approximately 55.1%[20][21] - Financial expenses for the year were HKD 280,546 thousand, down from HKD 390,092 thousand in 2022, indicating a reduction of about 28.2%[22] - Income tax expense decreased by HKD 32 million to HKD 400 million, influenced by the use of previously unrecognized deferred tax assets[49] - Net cash inflow from operating activities was HKD 2.851 billion, while net cash outflow from investing activities was HKD 823 million[49] Strategic Focus - The company continues to focus on enhancing its operational efficiency and exploring market expansion opportunities in the port services sector[17] - The group plans to enhance operational efficiency through digital transformation and automation technologies[35] - The group aims to strengthen its core competitiveness in port logistics and expand market opportunities[35] - The group will focus on sustainable development by implementing green low-carbon upgrades and optimizing energy efficiency[35] - The group has implemented a carbon management system and upgraded port vehicles to enhance sustainability efforts[30] Compliance and Governance - The company has complied with all provisions of the Corporate Governance Code during the year ended December 31, 2023[61] - The Audit Committee, consisting of four independent non-executive directors, reviewed the annual performance for the year ended December 31, 2023[62] - The annual results announcement is available on the company's website and the Hong Kong Stock Exchange's disclosure website[63] - The company will hold its annual general meeting on June 12, 2024, to determine eligible shareholders for voting[64]
天津港发展(03382) - 2023 - 年度业绩