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Revenue Increased by 13.8% to Approximately RMB7.94 Billion;
Throughput of Major Business Achieved Stable Performance; Strived to Fuel a Faster Growth in Port Logistics Business
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HONG KONG, Mar 27, 2015 - (ACN Newswire) - Dalian Port (PDA) Company Limited ("Dalian Port" or the "Group", H Share stock code: 2880; A Share stock code: 601880), the largest comprehensive port operator in the Northeastern China, today announced its annual results for the year ended 31 December 2014 (the "year under review").
In 2014, challenges still hindered the recovery of the global economy, and affected by slowdown of the macro economy and economic restructuring continued in China, the Group still achieved stable results. For the year ended 31 December 2014, the Group's revenue amounted to RMB 7,942.5 million, recorded a significant increase of 13.8% YOY. Gross profit (less business taxes and surcharges) was RMB 1,333.0 million, decreased by 7.9% as compared to last year. The Group's profit attributable to owners of the parent amounted to RMB 520.7 million, representing a decrease of 23.7% YOY. The decrease of profit attributable to owners of the parent was mainly due to the reduction in relocation compensations, the increase of labor costs, depreciation expenses and financial expenses associated with the commissioning of new facilities, and the significant decrease of the bulk grain throughput. Basic earnings were RMB11.76 cents per share.
During the year under review, in terms of the throughput of major business, the Group's oil terminals handled a total of approximately 44.101 million tonnes of oil and liquefied chemicals, an increase of 3.2% as compared with 2013, of which approximately 21.952 million tonnes was imported crude oil, an increase of 4.4% as compared with 2013. In the Container Segment, the Group handled approximately 10.805 million TEUs, a decrease of 0.5%, of which approximately 10.011 million TEUs were handled by the Group at the Dalian port, an increase of 1.0%. In the Automobile Terminal Segment, the Group handled 454,219 vehicles, an increase of 27.2%. In the Ore Segment, the Group handled approximately 16.330 million tonnes, a decrease of 26.1%. In the General Cargo Segment, the Group handled approximately 32.055 million tonnes of cargoes, a decrease of 0.8%. In the Bulk Grain Segment, the Group handled approximately 6.408 million tonnes of bulk grain, a decrease of 20.4%. In the Passenger and Ro-Ro Segment, the Group transported approximately 3.668 million passengers, a decrease of 3.3% and approximately 1,092,000 vehicles, an increase of 15.3% as compared with 2013.
Mr. Hui Kai, Chairman of Dalian Port (PDA) Company Limited remarked, "In 2014, recovery of the global economy remained rugged and tortuous and the global trade grew at a slow pace. While China's macro economy had turned from a fast-paced powerhouse to one with medium-high growth and its economic structure continued to be optimized and upgraded. Also, the driving factor of its economic growth had changed from key elements-driven and investment-driven to innovation-driven. Affected by slowdown of the macro economy and economic restructuring, the port logistics production would change from high speed to moderate growth. In 2014, the Group strived to fuel a faster growth in port logistics business by advancing the establishment of the entire logistics system, increasing production innovation, promoting the growth of near-port industries and integrating the logistics resources."
In oil segment, during the year under review, riding on the opportunity of commencing operation of No. 9 storage tank with a capacity of 600,000 m3 as a bonded warehouse, the Group enhanced the ports logistics service capability, strengthened its cooperation with major customers and continued to expand the scale of the bonded warehouse. Meanwhile, leveraging on its deep-water ports and location advantage, the Group strengthened its cooperation among port operators, shipping lines and cargo owners, integrated and consolidated logistics service resources, expanded the scale of the water-to-water transshipment of imported crude oil and expanded its coverage of Shandong Peninsula and the Beijing-Tianjin-Hebei region.
In container segment, the Group continued to implement the transport strategy of the Bohai Rim region. By expanding the network coverage of the Bohai Rim region, increasing self-owned shipping capacity, enhancing service pledge and jointly developing sources of cargo supply in the Bohai Rim hinterland with the surrounding ports of the Bohai Rim region, the Group further extended the coverage of the sub network and three new routes were temporarily added throughout the year. In the meanwhile, the Group accelerated the strategic layout of the hinterland and built "One belt, One road" as its bridgehead, and thus provided strong support for the Group to develop inland core customers and to explore the source of cargoes in the hinterland.
In automobile segment, the Group strengthened its cooperation with automobile manufacturers and shipping companies, improved its port services and expanded the automobiles logistics services. Through the implementation of innovative service models, integration of logistics resources and promotion of joint ventures and cooperation to attract cargoes, the Group improved its competitiveness. Established Dalian Dilangsirui Vehicles Co., Ltd., together with D-LUXURY AUTO,INC., an US company, to explore the vehicle modifying and selling business opportunity. The Group also promoted the development of near-port industries and increased the shipping business from Qishui Automobile Dalian factory.
In ore segment, building on its strengths, the Group put efforts to solicit cargo supply. By upgrading the stacking yard and refining its management, the Group strived to provide new service product and built up a new service brand for handling coking coal. The Group devoted more resources in the construction of ore transshipment distribution system, promoted the large vessels berthing services, achieved a breakthrough in the distribution of imported iron ore in Shandong Peninsula and created a new business model combining comprehensive logistics services and financial services.
In general cargo segment, the Group improved the quality and efficiency of the Longzu steel transportation services, strengthened the development and maintenance of the steel liner routes, promoted the development of the steel trade service platform and logistics park and constructed the comprehensive logistics service system of steel transportation. Besides, the Group built a stronger partnership with its major manufacturing enterprise customers. Leveraging on the location advantage of the Dalian Bay area, the Group vigorously developed the near-port industries and stepped up the construction of near-port bulky equipment assembly base at the Dalian Bay port area.
In bulk grain segment, while ensuring the quality of port logistics services, the Group strengthened the market development for its key customers and effectively solicited cargo supply in the market through the communication with the major trading enterprise. The Group rationalized its overall process of future trading business by implementing the 1409 Contract and further enhanced its regulatory measures relating to such business, which laid a sound foundation for commencing the grain futures business.
In passenger and ro-ro segment, the Group cooperated with certain enterprises to jointly develop marine tourism projects. Through the development of tourism projects such as "Appreciating Dalian from the Sea" and "Island Tours", the Group further expanded the mainland-island traffic and increased the tourists flow. Also, the Group strengthened the market development and communications with customers, put more efforts in the solicitation of capital investment for the port logistics park at the Dalian Bay and sought cooperation with the Drop and Pull transportation enterprises to jointly promote the construction of the logistics platform for the Drop and Pull transportation business in the Liaoning and Shandong region.
In value-added services segment, the Group strengthened its tugboats management. Though various measures such as optimizing the allocation of tugboats among the tugboat bases, the Group effectively reduced its disposal costs, and maintained a good growth momentum in the tugging business. In respect of the services in the markets outside Dalian, the Group extended greater efforts in market development in response to the dynamic changes in the market condition. Building on its edges on professionals, equipment, management and technology, the Group has devoted itself in the market competition. During the year, the Group deployed four tugboats to the ports outside Dalian for further expanding its market share and maintaining its leading position among its domestic industry peers.
Mr. Hui Kai concluded, "In 2015, it is expected that the recovery pace of global economy will be more rugged and tortuous. Despite the persistent economic downward pressure, the deepening reform and the rule by law promoted by the PRC government will foster an environment for a steady growth of the domestic economy. Domestic restructuring of industries and innovative development models will encourage the transformation of the processing business. The implementation of policy for cultivating new competitive edges in foreign trade by the PRC government will advance the foreign trade. The Group will continue to focus on building the comprehensive logistics services platform and the integrated platform for industrial, commerce and trading for penetrating into new markets while exerting its efforts in promoting the construction of comprehensive logistics system, business model innovation, extension of its services functions, development of the near-port industries, resources integration and joint ventures to further promote the integrated development of ports logistics with commercial and trading, information and financial industries and to transform and upgrade of the Group's ports business."
Topic: Press release summary
Source: Dalian Port PDA Company Limited
Sectors: Daily Finance
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From the Asia Corporate News Network
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