HNA Technology(600751)2024-09-10 10:35Operational Overview - The company currently maintains a stable fleet of 9 self-owned dry bulk carriers with a total capacity of approximately 750,000 deadweight tons (DWT) [3] - In the first half of 2024, the company leased an additional 1 Handysize vessel, increasing its market fleet to 6 vessels and total controllable capacity to 1.11 million DWT [3] - The company is actively studying fleet renewal plans to enhance its competitive position in the Handysize market [3] Typhoon Impact - The vessel "Xi Yue" was affected by Typhoon "Mojie" and successfully completed typhoon avoidance procedures, with operations resuming on September 13, 2024 [3] Commodity Trading Business - The company established Xuanqi International Trade in March 2023 to develop bulk commodity trading business [4] - In H1 2024, the commodity trading business achieved revenue of 259 million yuan with a gross margin of 5.54% [4] - The company focuses on black energy and non-ferrous metal categories, building end-to-end service capabilities from procurement to sales [4] Business Strategy - The company is building a comprehensive logistics service system covering upstream resources, midstream transportation, and downstream customer channels [4] - The trading business adopts a direct sales model, purchasing directly from domestic and international mining companies and selling to large state-owned enterprises [5] - The company leverages its financial strength and transportation capabilities to reduce customer procurement costs and enhance overall profitability [5] Risk Management - The company implements strict risk control measures including cargo control, fund control, and full margin requirements [4] - The trading business benefits from the company's long-term accumulation in metal minerals, agricultural products, and new energy industries [4]