Beibu Gulf Port (SZ:000582)2022-11-17 15:12Group 1: Performance Highlights - In May 2022, the container throughput at Beibu Gulf Port reached a record of 22,568 TEUs, surpassing the previous record set in December 2021 [1] - As of April 2022, the total cargo throughput was 90,222,500 tons, representing a year-on-year increase of 7.47% and achieving 31.66% of the annual target [6] - In Q1 2022, the company completed a cargo throughput of 6,516,680 tons, with a year-on-year growth of 5.25% [8] Group 2: Strategic Developments - The implementation of the new tax rebate policy for the first land-based port in Shaanxi is expected to attract export enterprises to choose Beibu Gulf Port, enhancing its role in the Western Land-Sea New Corridor [2] - The company aims to achieve a revenue growth of no less than 10% in 2022, with a focus on optimizing container shipping routes and increasing cargo organization efforts [4] Group 3: Financial Insights - The company faced challenges in net profit growth due to increased operational costs and the expiration of pandemic-related social security exemptions [3] - As of the end of 2021, the company had a total share capital of 1.633 billion shares, with the top ten shareholders holding over 80% of the shares, indicating low liquidity [3] Group 4: Infrastructure and Capacity - By the end of 2021, the cargo handling capacity for Fangcheng Port was 139 million tons, with a container capacity of 1.1 million TEUs; Qinzhou Port had a capacity of 127 million tons and 4.8 million TEUs; Beihai Port had a capacity of 8.3 million tons and 1 million TEUs [3] - The company currently manages 77 coastal production berths, ensuring a well-structured layout and complete basic facilities [6] Group 5: Market Position and Future Outlook - Beibu Gulf Port has entered the top ten major coastal ports in China for both cargo and container throughput, ranking 9th and 8th respectively, with the highest growth rate among major coastal ports [2] - The company is exploring opportunities for mergers and acquisitions to enhance its asset base and market position [6]