兴通股份(603209) - 兴通海运股份有限公司关于接待机构投资者调研情况的公告

Group 1: Research Overview - Research conducted from May 14 to June 7, 2023, through on-site and telephone meetings [2] - Participating institutions included major investment firms such as 兴业交运, 光大保德信, and 中信证券, among others [2] Group 2: Operational Performance in Q1 2023 - Fleet size as of March 31, 2023: 29 vessels with a total capacity of 345,900 deadweight tons, a 33.29% increase from the end of 2022 [3] - Chemical tankers: 24 vessels with a total capacity of 280,900 deadweight tons, a 44.42% increase from the end of 2022 [3] - Total cargo volume in Q1 2023: 2.8624 million tons, a 47.46% year-on-year increase [4] - Revenue for Q1 2023: 339 million, an 89.74% increase year-on-year; net profit: 77 million, a 57.32% increase year-on-year [5] Group 3: Market Conditions and Company Strategy - Overall market for hazardous materials transportation is affected by macroeconomic factors, with a decrease in operational rates expected in Q2 [6] - Company maintains competitive advantage through a young and high-end fleet, minimizing market impact [6] - External trade fleet consists of 3 vessels with a total capacity of 65,100 deadweight tons, employing a differentiated competition strategy [7] Group 4: Future Capacity and Growth Plans - Plans to acquire 4 stainless steel chemical tankers and 2 LPG vessels, with some being second-hand for quick deployment [8] - Ongoing construction of 3 high-end stainless steel chemical tankers with a total capacity of 32,500 deadweight tons, expected to be operational by mid-2024 [8] Group 5: Client Concentration and Pricing Strategy - High client concentration due to industry structure, with major clients including state-owned and foreign enterprises [10] - Company’s pricing strategy for internal transportation remains stable, with slight increases in contract rates [11] - Contracts are typically signed annually, with a focus on maintaining service quality despite market fluctuations [12] Group 6: Risk Advisory - Company advises investors to refer to official announcements for accurate information and to be aware of investment risks [13]