Financial Performance - Total throughput for 2023 reached 445 million tons, a year-on-year increase of 0.4%[19] - Container throughput for 2023 was 20.02 million TEUs, up 1.0% from the previous year[19] - Revenue for 2023 amounted to HKD 13,484 million, compared to HKD 13,017 million in 2022, reflecting a growth of 3.6%[12] - Profit attributable to shareholders for 2023 was HKD 729 million, significantly up from HKD 345 million in 2022, representing a 111.3% increase[12] - Basic earnings per share for 2023 were HKD 11.8, compared to HKD 5.6 in 2022, marking a 110.7% increase[12] - Total revenue for 2023 was HKD 13,484 million, an increase of 3.6% compared to HKD 13,017 million in 2022[31] - Sales business revenue reached HKD 3,471 million, up 16.5% from HKD 2,979 million in the previous year[31] - Total cost of sales for 2023 was HKD 9,782 million, a slight increase of 1.1% from HKD 9,672 million in 2022[33] - Gross profit for 2023 was HKD 3,698 million, with a gross margin of 27.4%, up from 25.6% in 2022[41] - The 2023 gross profit margin improved to 27.4%, up from 25.7% in 2022, driven by effective cost control and increased revenue from handling operations[27] Assets and Liabilities - Total assets as of December 31, 2023, were HKD 40,620 million, down from HKD 42,211 million in 2022[13] - Total borrowings decreased to HKD 5,707 million from HKD 8,291 million, resulting in a debt ratio of 18.8%[13] - The group's total liabilities as of December 31, 2023, were HKD 10.34 billion, down from HKD 12.56 billion in the previous year, resulting in a debt ratio of 18.8% compared to 28.0% in 2022[50] - Cash and deposits balance as of December 31, 2023, was HKD 6.43 billion, a decline from HKD 7.96 billion as of December 31, 2022[49] - The company's equity attributable to shareholders was HKD 13,610 million as of December 31, 2023, compared to HKD 13,244 million in 2022[47] Dividends - The company proposed a final dividend of HKD 4.73 per share, with an annual payout ratio of approximately 40%[19] - The company plans to maintain a dividend payout ratio of approximately 40% for the year, consistent with the previous year[28] - The company aims to distribute an annual dividend amounting to 30% to 50% of the annual profit attributable to shareholders, depending on operational performance and financial conditions[117] Operational Strategy - The company aims to enhance service quality and expand service functions while maintaining a focus on risk management and operational efficiency[19] - The outlook for 2024 indicates potential growth opportunities driven by favorable policies and trade agreements, despite ongoing economic uncertainties[19] - The company is focusing on green port initiatives, having upgraded equipment to replace traditional fuel with electricity, and was recognized as a five-star "Green Port"[23] - The digital transformation strategy includes the integration of IoT, big data, and AI technologies to enhance operational efficiency and service quality[24] - The company aims to enhance safety management through the application of smart technologies, including drone surveillance and comprehensive video monitoring[25] - Future outlook indicates a commitment to leveraging strategic opportunities from national policies and enhancing core competitiveness in port logistics[28] - The company emphasizes sustainable development and aims to reduce environmental impact through clean energy technologies and waste reduction initiatives[29] Governance and Management - The company is focused on expanding its market presence and enhancing operational capabilities through strategic appointments and governance improvements[62] - The management team is committed to leveraging their extensive experience to drive the company's growth and operational efficiency in the logistics sector[58][59] - The board includes independent non-executive directors with diverse expertise, such as Luo Wenyu, who has a background in engineering and has served in various academic and advisory roles[60] - The company is committed to maintaining high levels of corporate governance to enhance business transparency and accountability to shareholders[66] - The company’s governance practices comply with all provisions of the corporate governance code for the year ending December 31, 2023[67] - The company’s financial performance and risk management are monitored by the board, ensuring alignment with overall strategic objectives[70] Risk Management - The company has established a risk management framework that includes risk identification, assessment, response, control, monitoring, and reporting[96][97][98][99] - The company conducted an annual review of its risk management and internal control systems, confirming their adequacy and effectiveness[94] - The risk management department is tasked with daily risk management operations and ensuring compliance with established policies and procedures[95] Related Party Transactions - The company ensures that the terms of transactions with Tianjin Port Group are not less favorable than those offered by independent third parties[158] - The company has received independent shareholder approval for ongoing related party transactions as disclosed in announcements dated September 28, 2020, and September 25, 2023[162][166] - The company has established a framework agreement with Zhonggu Logistics for services from January 1, 2023, to December 31, 2025, covering various operational needs[188] - The pricing for services is based on fair market value, considering service content, quantity, and quality, with specific guidelines for each service type[190] Employee and Diversity Initiatives - The group employs a total of 5,727 staff members, with a gender ratio of 4,356 males to 1,371 females[79] - The Nomination Committee has reviewed the implementation and effectiveness of the board diversity policy and aims to continue seeking suitable candidates to enhance diversity[79] - The company emphasizes the importance of effective communication and timely information dissemination among board members[71] Shareholder Engagement - The company encourages direct communication with shareholders and provides various channels for inquiries and feedback[107][109] - Shareholders have the right to receive company communications in both English and Chinese, and can choose their preferred method of receipt[110] - The company maintains a website that provides comprehensive information, including financial reports and governance documents, ensuring transparency[111]
天津港发展(03382) - 2023 - 年度财报