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- Integrates Ports' Competitive Advantages; Strengthens Value-added Capability
- Implements Cross Harbour Development Strategy; Enhances Core Competences |
HONG KONG, Mar 24, 2016 - (ACN Newswire) - Qinhuangdao Port Co., Ltd. ("QHD Port" or the "Company", together with its subsidiaries, the "Group", stock code: 3369), the world's largest independent port operator for major dry bulk cargo, today announced its annual results for the year ended 31 December 2015 (the "year under review").
The economy of China entered into "new development state" in 2015. During the transition, port enterprises and enterprises in upstream coal and steel industries were under great pressure on production and operation. The port industry in Bohai Rim, where the Group is located, is also affected. For the year ended 31 December 2015, the revenue of the Group amounted to RMB6,889.9 million. The gross profit was RMB 2,811.0 million. Net profit attributable to owners of the parent company amounted to RMB1,344.5 million. The gross profit margin was 40.8%. Earnings per share of the Group amounted to RMB0.27. The Board of directors proposed a final dividend of RMB0.15 per share for the year ended 31 December 2015.
During the year under review, due to the macro economy downturn, the Group recorded a total cargo thoroughput of 370.16 million tonnes, representing a decrease of 3.12% compared to 2014. The throughput of all major types of cargos handled by the Group developed differently, including: 341.42 million tonnes of dry bulk, representing a year-on-year decrease of 3.77%, the decrease was mainly due to the decrease of coal throughput; in which 230.41 million tonnes of coal, representing a year-on-year decrease of 6.26%; 111.01 million tonnes of metal ore, representing a year-on-year increase of 1.85%; 7.01 million tonnes of oil and liquefied chemicals, representing a year-on-year decrease of 3.44%; 12.53 million tonnes of container, representing a year-on-year increase of 29.58%; 9.20 million tonnes of general and other cargoes, representing a year-on-year decrease of 11.37%. In addition, the Group also provided a variety of ancillary port services and value-added services during the year under review. Ancillary port services include tugging, tallying, trans-shipping, and shipping agency services and value-added services mainly include towing, tallying, coal blending and tariff-free warehouse and export supervisory warehouse services.
Mr. XING Luzhen, Chairman and Executive Director of the Qinhuangdao Port Co., Ltd., said: "In 2015, the global market demand was weak due to the external economies downturn and global financial market turbulence in the third quarter. The exports of Asian regions are negatively affected and most of the markets did not perform well. Bohai Rim, where the Group is located, is impacted. All of these factors and the economic reformation of China had brought challenges to the operation of the Group. Yet, during the year under review, the Group continued to strengthen the main business of port services and enhanced the ability of creating value for customers. In particular, the Company maintained the advantage in coal business, expanded the metal ores business, achieved rapid growth of container business, and established a regional oil distribution centre, which greatly enhanced the Group's ability to operate in adverse environment."
In respect of metal ores, during the year under review, Cangzhou Mineral Co., subsidiary of the Group, commenced trial operation. Cangzhou Bohai took the advantage of hinterland to devote greater efforts in solicitation of cargoes and gradually enhanced the production efficiency and achieved increase in throughput.
In respect of oil and liquefied chemicals handling services, the Group focused on crude oil from Daqing. The Company tried its utmost to transport more oil by proactively strengthening communication and coordination with relevant customers. At the same time, the Company proactively cooperated with other
customers and fully capitalized the opportunities from the commencement of production of their new oil wells in order to reduce the effect of the decrease in production output of old oil wells, so as to increase its throughput of marine oil. The Daqing crude oil transportation through Tieqin pipeline was stopped at the end of September, 2015, which resulted in a relatively large gap in port oil cargoes. In order to fill the gap in pipeline oil, Company's port focused on offshore oil and crude oil from asphalt plants, coordinated with the customers to increase the transfer amount, meanwhile actively accelerated the declaration and approval for the import and export foreign trade business.
In respect of container service, the Group achieved better results in respect of the "dry bulk & general cargoes to containers" reform, expansion of imported cargo resources, expansion of sea-rail intermodal transportation business and stabilization and development of shipping lines.
Regarding the future development, the production capacity of Phase 2 of coal terminal in Caofeidian of the Company will be further released, and the overall transfer capacity will increase. Upon the opening of Mengji Railway, stable cargoes supply will be supplied to Phase 2 of coal terminal in Caofeidian, which will effectively increase the overall share of the Group in coal market. The Company will further implement the management model of "integration between Qinhuangdao Port and Caofeidian Port", leverage on the respective advantages of Qinhuangdao Port and Phase 2 of coal terminal in Caofeidian and refine the linkage mechanism between the two ports in order to maximize the overall throughput capacity of Qinhuangdao Port and Phase 2 of coal terminal in Caofeidian. Meanwhile, the Company will capture the important opportunity of cross-harbour development between Caofeidian Port and Huanghua Port, expand the periphery and reach of the economic hinterland and explore business opportunities and strategic partnerships in newly-developed areas. In addition to consolidating the advantage of Qinhuangdao Port on coal transportation, the Company will fully utilize Caofeidian Port and Huanghua Port, establish long-term partnership with overseas exporters of high-quality iron ores to provide abundant of resources to the enterprises in the economic hinterland, adjust the cargoes portfolio while consolidating the existing advantages in order to strive for further development of the Company.
Mr. XING Luzhen concluded: "Looking ahead, with clear port positioning, the Company will respond to the complicated market environment by building a strong marketing team, establishing the new operating model of "internet + port services", further enhancing the loading and unloading efficiency of the Company, improving the internal production and operation procedures of the Company, actively engaging in dislocation competition with surrounding ports and upgrading the port services functions, with an aim to provide the customers with better and more convenient services. We will also implement the cross-harhour development strategy, expand the port services functions and promote international development; extend the logistics services system and improve the capital operation ability to support the transformation and upgrade of ports; promote the integrative development of harbour, industry and city to achieve a harmonious and win-win situation between harbour and city; accelerate the infrastructure construction, continue to enhance the level of technology and equipment and build a green harbour; strengthen the recognition on "talent thriving enterprise" and optimize the human resource structure; improve the quality of information services and build an intelligent harbour so as to achieve leap-forward development and consolidate the Group's position as the largest independent port operator for major dry bulk cargo in the world."
Topic: Press release summary
Source: Qinhuangdao Port
Sectors: Daily Finance, Daily News
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From the Asia Corporate News Network
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