Financial Performance - The company's revenue for the year ended December 31, 2023, was approximately RMB 175,556,000, a decrease of 26.0% compared to RMB 237,273,000 in 2022[15]. - Gross profit increased by 16.7% to approximately RMB 37,297,000, up from RMB 31,967,000 in the previous year[16]. - Net profit for the year was approximately RMB 10,521,000, reflecting a 4.3% increase from RMB 10,084,000 in 2022[16]. - The logistics services revenue decreased by 51.0% year-on-year, totaling RMB 25,085,000 in 2023 compared to RMB 51,157,000 in 2022[21]. - The total revenue from supply chain operations decreased by 70.6%, reaching RMB 14,899,000 in 2023 compared to RMB 50,644,000 in 2022[23]. - Employee costs were approximately RMB 91,222,000 in 2023, down from RMB 109,126,000 in 2022[24]. - Administrative expenses amounted to RMB 19,830,000 in 2023, a decrease from RMB 23,091,000 in 2022[25]. - The annual profit for 2023 was approximately RMB 10,521,000, showing a slight increase from RMB 10,084,000 in 2022[29]. Operational Highlights - The company's port logistics services saw a 2.5% increase in container throughput, totaling 3,889,024 TEUs compared to 3,794,017 TEUs in the previous year[18]. - The domestic trade business within Xiamen Port experienced a significant growth of 25.7%, while the overall throughput remained stable at 12.5 million TEUs[20]. - The logistics service revenue from port logistics and transportation services remained stable, with a slight increase of 0.1% to RMB 135,572,000 compared to RMB 135,472,000 in 2022[19]. - The volume of land transportation services saw a decline of 21.5% in heavy container transport, with 10,225 TEUs in 2023 compared to 13,030 TEUs in 2022[21]. - The import and export agency services volume dropped by 38.3%, with 8,137 TEUs in 2023 compared to 13,188 TEUs in 2022[21]. Strategic Initiatives - The company plans to enhance management and optimize production processes to improve efficiency and meet market demands[11]. - Future focus includes the timely restart of supply chain operations primarily related to sand and gravel materials, contingent on the recovery of the domestic infrastructure and real estate markets[11]. - The company is exploring the feasibility of implementing autonomous driving solutions in port transportation services[11]. - The company aims to strengthen and expand its port services by collaborating with major operators in the Xiamen area and enhancing connectivity in the Wuhan Yangluo port area[50]. - The company is targeting dual growth in revenue and profitability for 2024 through strategic initiatives in supply chain and port services[51]. Corporate Governance - The board of directors consists of five members, including two executive directors and three independent non-executive directors, complying with the listing rules regarding board composition[62]. - The company has adopted and complied with the corporate governance code as of December 31, 2023, ensuring high standards of corporate governance[57]. - The board has established corporate governance policies and practices, ensuring compliance with legal and regulatory requirements[74]. - The company has established an audit committee, a remuneration committee, and a nomination committee, all composed solely of independent non-executive directors[62]. - The board emphasizes constructive communication among members and with senior management to ensure effective governance[68]. Environmental, Social, and Governance (ESG) Efforts - The company’s ESG report is structured around seven key performance indicator (KPI) themes relevant to its operations[124]. - The company has established an ESG committee to implement ESG policies, collect relevant data, and review key performance indicators[119]. - The company identified key ESG issues based on stakeholder communication, considering factors such as business nature, geographical location, regulatory requirements, and operational practices[139]. - The company's greenhouse gas emissions decreased significantly, with Scope 1 emissions at 5,941 tons of CO2 in 2023, down from 7,112 tons in 2022, representing a reduction of approximately 16.5%[161]. - The total water consumption was reported at 3,250 cubic meters in 2023, down from 4,218 cubic meters in 2022, indicating a reduction of approximately 29%[161]. Employee and Labor Relations - The employee count as of December 31, 2023, is 846, a decrease from 929 in 2022[174]. - The employee turnover rate for 2023 is 54%, compared to 49% in 2022[174]. - The company is committed to maintaining a fair employment environment and has implemented policies to ensure equal opportunities[182]. - The company has not reported any incidents of child labor or forced labor in the current year[196]. - The company has implemented strict safety measures, including mandatory safety education and technical training for all dock workers before they can operate[187].
象兴国际(01732) - 2023 - 年度财报