Net profit of 628 million, Yantian port released the first half of 2024 performance report
Shenzhen Yantian Port Co., LTD. (Stock referred to as Yantian Port) released the performance report for the first half of 2024 on August 31, during the reporting period, the operating income was about 407 million yuan, down 5.08% year-on-year; The net profit attributable to shareholders of listed companies was about 628 million yuan, an increase of 4.38%.
In addition, as of the end of the report period, Yantian Port has opened 14 inland ports, 31 sea-rail combined transport lines, 13 barge combined ports, and 17 barge branch lines, with services covering the Greater Bay Area, Southwest and central regions, greatly improving the port clearance efficiency and reducing the logistics costs of export enterprises.
For the performance, Yantian Port said that the factors driving the rise in performance include three aspects.
In terms of macroeconomics, in the first half of 2024, the global economy and trade grew steadily, China's economic operation was stable and advanced, external demand picked up, domestic demand continued to recover, goods import and export achieved rapid growth, trade scale reached a new high, and port cargo and container throughput both achieved rapid growth.
In terms of strategic investment, in recent years, Yantian Port has strengthened the layout of port investment, invested in the development of Changde Port, Xiaomu Port and other projects, and set up joint ventures to open port operations. By the end of 2023, the company will complete major asset restructuring and acquire 100% of the shares of Yantian Port operating company, which will help Yantian Port expand its business and asset scale and greatly improve its profitability.
In terms of innovative business models, Huangshi New Port, which is controlled by Yantian Port, strengthens the operation mode of iron ore blending and vigorously develops multimodal transport; Huizhou Tsuen Wan Coal Port to enhance the carrying capacity of foreign trade coal, deepening port and railway cooperation; Xiaomu Port opened up car ro-ro, container domestic and foreign trade routes, etc. During the reporting period, car ro-ro throughput achieved substantial growth.
Main performance data of Yantian Port in the first half of 2024
In addition, as of the end of the report period, Yantian Port has opened 14 inland ports, 31 sea-rail combined transport lines, 13 barge combined ports, and 17 barge branch lines, with services covering the Greater Bay Area, Southwest and central regions, greatly improving the port clearance efficiency and reducing the logistics costs of export enterprises.
For the performance, Yantian Port said that the factors driving the rise in performance include three aspects.
In terms of macroeconomics, in the first half of 2024, the global economy and trade grew steadily, China's economic operation was stable and advanced, external demand picked up, domestic demand continued to recover, goods import and export achieved rapid growth, trade scale reached a new high, and port cargo and container throughput both achieved rapid growth.
In terms of strategic investment, in recent years, Yantian Port has strengthened the layout of port investment, invested in the development of Changde Port, Xiaomu Port and other projects, and set up joint ventures to open port operations. By the end of 2023, the company will complete major asset restructuring and acquire 100% of the shares of Yantian Port operating company, which will help Yantian Port expand its business and asset scale and greatly improve its profitability.
In terms of innovative business models, Huangshi New Port, which is controlled by Yantian Port, strengthens the operation mode of iron ore blending and vigorously develops multimodal transport; Huizhou Tsuen Wan Coal Port to enhance the carrying capacity of foreign trade coal, deepening port and railway cooperation; Xiaomu Port opened up car ro-ro, container domestic and foreign trade routes, etc. During the reporting period, car ro-ro throughput achieved substantial growth.
