Western Venture(SZ:000557)2025-05-15 09:26Strategic Planning - The company focuses on the main business of railway transportation, leveraging the industrial layout and transportation system in Ningxia to enhance the railway network and logistics parks, aiming to build a first-class modern logistics enterprise and a high-quality listed company [2][3]. Market Position and Competition - The company's railway transportation business accounts for over 50% of the total railway freight volume in the region, with a stable growth trend [3]. - The company is investing CNY 84.0815 million in the construction of the Ningdong Energy Chemical Base logistics park project, which is currently under construction [3]. Railway Business Development - The electrification project of the Ningdong Railway has an investment scale of CNY 1.4865 billion, with a cumulative investment of CNY 639 million as of the end of 2024, indicating a project progress of 52% [3]. - The company plans to enhance its core competitiveness and expand its railway network to stabilize business growth [3]. Pricing and Revenue - The railway transportation service charges a maximum freight rate of CNY 0.19 per ton-kilometer (excluding tax), with container rates set at CNY 4.45 per 20-foot container-kilometer and CNY 6.05 per 40-foot container-kilometer (excluding tax) [4]. - The company has adjusted some ancillary fees twice this year based on market conditions to enhance competitiveness [4]. Future Goals and Performance - In 2024, the company achieved a railway freight volume of 72.22 million tons, representing a year-on-year growth of 9.09% [4]. - Future plans include optimizing transportation organization and expanding customer outreach to further increase railway freight volume [4]. Supply Chain and Trade Business - The supply chain trade service relies on railway transportation, but operations were suspended in Q1 2024 due to market and policy impacts, with no asset disposal issues currently [5][6]. - The company will consider resuming operations based on macro policies and market conditions [6]. Shareholder Returns - The company plans to distribute a cash dividend of CNY 0.5 per share, totaling approximately CNY 72.9187 million, subject to approval at the upcoming shareholder meeting [6].