嘉里物流(00636) - 2023 - 年度财报

Financial Performance - Total revenue for the year reached HKD 47,408 million, representing a 42% increase compared to the previous year[8]. - Core operating profit was HKD 2,207 million, up 61% year-over-year[8]. - Core net profit increased by 69% to HKD 1,214 million[8]. - Shareholders' profit attributable to the company was HKD 791 million, reflecting a 78% growth[8]. - In 2023, the group's revenue decreased by 42% to HKD 47.408 billion, down from HKD 82.330 billion in 2022[31]. - Core operating profit fell by 61% to HKD 2.207 billion, compared to HKD 5.645 billion in the previous year[32]. - Core net profit declined by 69% to HKD 1.214 billion, down from HKD 3.952 billion in 2022[32]. - The international freight segment reported a 70% drop in profit due to inventory surplus and weak purchasing power, particularly in the Asian market[39]. - The overall performance in 2023 met expectations and aligned with global industry trends despite challenging market conditions[33]. Corporate Governance - The board is responsible for leading and controlling the company, ensuring alignment with its culture, purpose, values, and strategy for long-term sustainable success[64]. - The board has delegated daily management and operational responsibilities to senior management, with major transactions requiring board approval[65]. - The board consists of a mix of executive and non-executive directors, with key changes in leadership effective from October 1, 2023[66]. - The company has maintained high standards of corporate governance, ensuring shareholder interests and accountability[62]. - The company is committed to good corporate governance practices and effective communication with shareholders[78]. - The board has ensured compliance with listing rules by appointing independent non-executive directors, maintaining at least one with appropriate professional qualifications[77]. - The company has established a nomination policy to ensure a diverse and effective board composition[89]. - The independent non-executive directors confirmed that the ongoing related party transactions for the year ending December 31, 2023, were conducted in the ordinary course of business and on normal commercial terms[184]. Employee and Workforce - The company has over 33,000 global employees and operates in 59 countries and regions[3]. - The group has approximately 33,100 employees as of December 31, 2023, with a competitive salary structure and performance-based compensation policies[45]. - The workforce consists of 33,130 employees, with a gender distribution of 61% male and 39% female[92]. - The company emphasizes talent development through its Young Executive Academy (YEA), which has been nurturing talent since 2001[140]. - The company has developed a management trainee program since 2001 to cultivate potential employees into future management personnel[145]. Strategic Focus and Market Position - Future outlook includes continued market expansion and investment in new technologies[8]. - Kerry Logistics Network Group reported a significant focus on core capabilities in integrated logistics and international freight, aiming for sustainable growth and market expansion[26]. - The company sold its express business by the end of 2023 to concentrate resources on its core operations[26]. - The group plans to enhance its focus on core logistics and international freight businesses following the divestment of its e-commerce and express services[34]. - The company aims to leverage market recovery opportunities while remaining patient in asset value realization to drive continuous growth[42]. - The company aims to achieve success in the Asia-Pacific region and global markets by leveraging its unique understanding of the Asian market[62]. Awards and Recognition - The company was awarded the Best Third-Party Logistics Service Provider at the 2023 Asia Supply Chain Awards[56]. - The company received the Outstanding Brand Image Award at the 2023 CFS Financial Summit in Mainland China[53]. - The company was recognized as the Best Logistics Company in the Asia-Pacific region by Frost & Sullivan in 2023[56]. - The company has received 137 awards, including corporate awards and industry accolades, highlighting its strong market position[49]. Sustainability and ESG Initiatives - Kerry Logistics aims to improve its ESG strategies and governance framework to implement sustainable logistics solutions[26]. - The group aims for net-zero emissions by 2050 and has made significant progress in climate risk assessment and setting mid-term goals[41]. - The company has emphasized compliance with environmental laws and regulations, maintaining high standards in pollution prevention and natural resource protection[135]. - Corporate social responsibility details are included in the company's 2023 sustainability report[144]. Financial Management and Capital Structure - As of December 31, 2023, the total bank loans amounted to HKD 8.498 billion, with 38% (HKD 3.263 billion) due within one year[44]. - The total unused bank loans and credit facilities available as of December 31, 2023, was HKD 9.751 billion, which can be allocated for significant capital expenditures[44]. - The company aims to distribute approximately 30% of its core net profit to shareholders as dividends each fiscal year, subject to board discretion and shareholder approval[111]. - As of December 31, 2023, the company has a distributable reserve of HKD 5.98 billion, with HKD 235 million recommended for the final dividend[151]. Related Party Transactions - The annual cap for services provided by SF Tyson to the company for the years ending December 31, 2022, 2023, and 2024 is set at HKD 1.068 billion, HKD 4.189 billion, and HKD 5.844 billion respectively[176]. - The total amount payable to SF Tyson by the group for the years ending December 31, 2022, and 2023 is HKD 797 million and HKD 911.7 million respectively[176]. - The independent non-executive directors confirmed that the ongoing related party transactions for the year ending December 31, 2023, were conducted in the ordinary course of business and on normal commercial terms[184]. Shareholder Communication - The company has established multiple communication channels with shareholders, including annual general meetings and a dedicated investor relations hotline[108]. - The company emphasizes the importance of transparency and timely disclosure of information to facilitate informed investment decisions by shareholders[108]. - The company has conducted a review of its shareholder communication policy and is satisfied with its execution and effectiveness[109]. Technology and Innovation - The company is investing in automation and technology to enhance efficiency and performance[26]. - The company has implemented an integrated management, operations, and analytics system embedded with artificial intelligence, enhancing operational efficiency and service quality in Southeast Asia and Oceania[129]. - The company aims to leverage new technologies in its operations to improve efficiency and service delivery[119].