Net Profit of Qinhuangdao Port Rose to RMB1.98 Billion; Proposed a Final Dividend of RMB0.35 Per Share

Wednesday, 25 March 2015, 16:40 HKT/SGT

Benefited from the rapid growth the port industry in Bohai Rim

HONG KONG, Mar 25, 2015 - (ACN Newswire) - Benefiting from the rapid growth of port industry in China, in particular, the port industry in Bohai Rim, the revenue and profit of the Qinhuangdao Port (3369.HK) recorded a relatively stable growth in 2014. For the year ended 31 December 2014, the revenue of the Group amounted to RMB7,223.1 million, representing an increase of 0.47% compared to 2013. The gross profit was RMB 3,110.1 million, increased by 4.29% compared to 2013. Net profit attributable to owners of the parent company amounted to RMB1,980.1 million, increased by 12.23% compared to 2013. The gross profit margin and net profit margin was 43.06% and 27.37%, representing an increase of 1.58% and 2.66% respectively compared to last year. Earnings per share of the Group amounted to RMB0.39. The Board of directors proposed a final dividend of RMB0.35 per share for the year ended 31 December 2014. (2013: RMB0.32)

During the year under review, the Group achieved a total cargo thoroughput of 382.09 million tonnes, representing an increase of 4.69% compared to 2013. The throughput of all major types of cargos handled by the Group achieved steady growth, including: 354.78 million tonnes of dry bulk, representing a year-on-year increase of 3.93%; in which 245.79 million tonnes of Coal, representing a year-on-year increase of 0.81%; 108.99 million tonnes of metal ore, representing a year-on-year increase of 11.75%; 7.26 million tonnes of oil and liquefied chemicals, representing a year-on-year decrease of 12.53%; 9.67 million tonnes of container, representing a year-on-year increase of 21.18%; 10.38 million tonnes of general and other cargoes, representing a year-on-year increase of 41.22%. In addition, regarding ancillary port services and value-added services, the Group devoted much attention to the development of coal blending business during the period under review. It realized coal blending of 32.3 million tonnes, representing a year-on-year increase of 59.7%.

Mr. XING Luzhen, Chairman of Qinhuangdao Port, said: "In 2014, amidst the recovery of global economy and trade, the throughput of containers in international lines in ports of China got rid of low growth, and the rapid development of port industry in Bohai Rim, where the Group is located, helped to facilitate the advancement of the Group's business. During the period under review, the Groupwas committed to provision of customized services, thereby enhancing trustiness and satisfaction of its customers.. Meanwhile, the Group entered into strategic cooperation agreements with various large coal enterprises and expanded the scope of strategic cooperation with its existing customers so as to improve the capability of the Group in preventing market risks while securing the throughput, therefore further increasing the operating income and profit."

Regarding the future development, the Group will continue to implement a series of strategies, as to grasp the growth opportunities of business, and consolidate its leading position in the industry. The Group will proceed with relevant optimizations and rectifications in regard to source structure of coal, strategic cooperation, service offerings and other aspects, to realise the purpose of consolidating transshipment volume of coal and further enhance customer's confidence and satisfaction on it. Following the completion of the renovation project of "relocation of the western port", the Group will take full advantage of the standardized equipment and facilities as well as service platform for the eastward expansion of the port to strengthen the mechanism of cargo collection, perfect the management system, intensify the service concept and facilitate the growth in throughput of general cargoes and containers; Meanwhile, the Group will deepen its refined management on business soliciting and production planning, to improve operational efficiency and service quality; the Group intends to optimize stevedoring process by streamlining the operation process, thus enhancing productivity and operational efficiency; It proposes to further intensify awareness of service, and strive to provide better services to each of its customers, in order to strengthen corporate's reputation and image in a continuous manner.

Topic: Press release summary Sectors: Daily Finance, Daily News
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