Yantian Port released its 2024 annual report, with its net profit surging by 21.74%
On the evening of April 23rd, Shenzhen Yantian Port Co., LTD. (referred to as "Yantian Port", 000088) released its 2024 annual report. In 2024, Yantian Port achieved operating income of 794 million yuan, a year-on-year decline of 11.16%, mainly due to the company's self-operated business volume falling short of expectations. The net profit attributable to the parent company was 1.349 billion yuan, increasing by 21.74% year-on-year, mainly due to the increase in investment income.
In the port industry, Yantian Port holds controlling stakes in and operates Huizhou Quanwan Coal Port, Shenzhen-Huizhou Xiaomo Port, Huangshi New Port, Changde Port, and Jinshi Port. It also holds shares in and operates Yantian International (Phase I and II), Yantian International Phase III, West Port Area Wharf Company, Caofeidian Port Co., LTD., and Strait Co., LTD. In the expressway industry, the company holds a controlling stake in the operation of Huizhou-Yancheng Expressway Company, and is responsible for the construction and operation management of the Shenzhen section of Huizhou-Yancheng Expressway. In the warehousing industry, the company holds a controlling stake in the operation of the customs export goods supervision Warehouse in Zone 3 of Yantian Port, the general warehouse in Zone 5, the modern logistics park of Huangshi New Port, and holds a stake in the operation of COSCO Logistics Yantian Port Bonded Logistics Center.
Last year, among the several port and shipping enterprises that Yantian Port mainly holds controlling or participating shares in, Yantian International (Phase I and II) achieved a net profit of 1.07 billion yuan, an increase of 18.91% year-on-year, mainly due to the rise in throughput and the increase in loading and unloading revenue. The West Port Area terminal achieved a net profit of 644 million yuan, an increase of 15.64% year-on-year. The main reasons were the increase in throughput, loading and unloading revenue, and storage revenue. Caofeidian Port Co., Ltd. achieved a net profit of 123 million yuan, an increase of 68.01% year-on-year. The main reasons were the increase in cargo throughput, the optimization of cargo type structure, the rise in comprehensive unit price, and the increase in revenue. Strait Co., Ltd. achieved a net profit of 1.048 billion yuan, a year-on-year decrease of 14.43%. The main reason was the increase in operating costs and administrative expenses, which led to a reduction in the net profit of the port sector and the Xisha route.
In October 2024, Yantian Port completed a supporting fundraising of 4.002 billion yuan and successfully introduced COSCO Shipping Lines as a long-term strategic investor.
In 2025, Yantian Port will promote the high-quality development of its self-operated ports:
(1) Guangdong-Hong Kong-Macao Greater Bay Area: Huizhou Quanwan Coal Port explores effective paths for multi-cargo operation, strengthens the development of customer market resources, extends the service chain of the coal industry, expands the hinterland of cargo sources, and enhances the port's radiation and driving capacity as well as core competitiveness. Xiaomo Port has consolidated its automotive roll-on/roll-off business, actively expanded the diversified bulk and general cargo market, and comprehensively explored the port logistics demands for various building materials in the region.
(2) Yangtze River Economic Belt: Huangshi New Port is making every effort to stabilize the existing market, actively exploring and practicing a new port operation model of "loading and unloading + blending + trade", consolidating the new channel of "direct river-sea + rail-water intermodal transport", increasing port throughput, and consolidating its status as a hub port. Changde Port Area (including Jinshi Port) has taken multiple measures to expand its business, develop new customers and increase the throughput of the port area.
In terms of investment and development: We will deeply cultivate Shenzhen, base ourselves in the Guangdong-Hong Kong-Macao Greater Bay Area, coordinate with the Yangtze River Economic Belt, face the whole country, and go global, seizing development opportunities.
(1) Focus on the Guangdong-Hong Kong-Macao Greater Bay Area, deeply carry out the layout of the three core clusters of eastern Guangdong, western Shenzhen and the Yangtze River Economic Belt, and form linkage and business synergy with Yantian Mother Port; Meanwhile, actively seek high-quality overseas port projects, promote the layout of overseas ports, enrich the reserve of the port project library, and promote the networked layout of ports. Build a port service system that integrates rivers and seas, trunk and branch lines, and sea-rail transportation.
(2) Deeply build specialized ports, focusing on container, coal, iron ore and new energy vehicles, to develop four core professional capabilities, layout important node ports or multimodal transport projects, and create specialized port clusters of "port + container", "port + energy", "port + iron ore" and "port + ro-RO".
(3) Give full play to the leading role of the port and shipping sector, with port investment taking the lead and port-related industries following suit, to drive the coordinated development of sectors such as "port + logistics", "port + shipping", and "port + energy". At the same time, leverage capital companies to empower the assets of each sector to be optimized, strengthened, and expanded.
In terms of smart port construction: Huangshi New Port has completed the acceptance of the basic network communication and 5G private network construction project, as well as the overall intelligent project of the bulk cargo terminal in the third phase, achieving full automation of bulk cargo terminal operations. Huizhou Quanwan Coal Port plans to complete the project acceptance of the integrated production management platform, the integrated equipment and material management platform, and the integrated intelligent operation management platform for outlying islands, and will fully promote the implementation of the technical transformation project for improving the efficiency of the remote intelligent precise loading train system. Xiaomo Port has completed the acceptance of the scientific and technological innovation research and development project for the roll-on/roll-off system and environmental monitoring system.
In terms of green port construction: Huangshi New Port plans to complete the handover and acceptance of the third phase of the bulk cargo land greening project and upgrade the green corridor project. Huizhou Quanwan Coal Port is fully committed to the green port grade evaluation work for dedicated dry bulk terminals, aiming to build a national demonstration of green coal terminals. Xiaomo Port promotes the application of green energy, adjusts its energy structure, further enhances the energy efficiency of its equipment, and builds a demonstration port area for a "zero-carbon port".
In the port industry, Yantian Port holds controlling stakes in and operates Huizhou Quanwan Coal Port, Shenzhen-Huizhou Xiaomo Port, Huangshi New Port, Changde Port, and Jinshi Port. It also holds shares in and operates Yantian International (Phase I and II), Yantian International Phase III, West Port Area Wharf Company, Caofeidian Port Co., LTD., and Strait Co., LTD. In the expressway industry, the company holds a controlling stake in the operation of Huizhou-Yancheng Expressway Company, and is responsible for the construction and operation management of the Shenzhen section of Huizhou-Yancheng Expressway. In the warehousing industry, the company holds a controlling stake in the operation of the customs export goods supervision Warehouse in Zone 3 of Yantian Port, the general warehouse in Zone 5, the modern logistics park of Huangshi New Port, and holds a stake in the operation of COSCO Logistics Yantian Port Bonded Logistics Center.
Last year, among the several port and shipping enterprises that Yantian Port mainly holds controlling or participating shares in, Yantian International (Phase I and II) achieved a net profit of 1.07 billion yuan, an increase of 18.91% year-on-year, mainly due to the rise in throughput and the increase in loading and unloading revenue. The West Port Area terminal achieved a net profit of 644 million yuan, an increase of 15.64% year-on-year. The main reasons were the increase in throughput, loading and unloading revenue, and storage revenue. Caofeidian Port Co., Ltd. achieved a net profit of 123 million yuan, an increase of 68.01% year-on-year. The main reasons were the increase in cargo throughput, the optimization of cargo type structure, the rise in comprehensive unit price, and the increase in revenue. Strait Co., Ltd. achieved a net profit of 1.048 billion yuan, a year-on-year decrease of 14.43%. The main reason was the increase in operating costs and administrative expenses, which led to a reduction in the net profit of the port sector and the Xisha route.
In October 2024, Yantian Port completed a supporting fundraising of 4.002 billion yuan and successfully introduced COSCO Shipping Lines as a long-term strategic investor.
In 2025, Yantian Port will promote the high-quality development of its self-operated ports:
(1) Guangdong-Hong Kong-Macao Greater Bay Area: Huizhou Quanwan Coal Port explores effective paths for multi-cargo operation, strengthens the development of customer market resources, extends the service chain of the coal industry, expands the hinterland of cargo sources, and enhances the port's radiation and driving capacity as well as core competitiveness. Xiaomo Port has consolidated its automotive roll-on/roll-off business, actively expanded the diversified bulk and general cargo market, and comprehensively explored the port logistics demands for various building materials in the region.
(2) Yangtze River Economic Belt: Huangshi New Port is making every effort to stabilize the existing market, actively exploring and practicing a new port operation model of "loading and unloading + blending + trade", consolidating the new channel of "direct river-sea + rail-water intermodal transport", increasing port throughput, and consolidating its status as a hub port. Changde Port Area (including Jinshi Port) has taken multiple measures to expand its business, develop new customers and increase the throughput of the port area.
In terms of investment and development: We will deeply cultivate Shenzhen, base ourselves in the Guangdong-Hong Kong-Macao Greater Bay Area, coordinate with the Yangtze River Economic Belt, face the whole country, and go global, seizing development opportunities.
(1) Focus on the Guangdong-Hong Kong-Macao Greater Bay Area, deeply carry out the layout of the three core clusters of eastern Guangdong, western Shenzhen and the Yangtze River Economic Belt, and form linkage and business synergy with Yantian Mother Port; Meanwhile, actively seek high-quality overseas port projects, promote the layout of overseas ports, enrich the reserve of the port project library, and promote the networked layout of ports. Build a port service system that integrates rivers and seas, trunk and branch lines, and sea-rail transportation.
(2) Deeply build specialized ports, focusing on container, coal, iron ore and new energy vehicles, to develop four core professional capabilities, layout important node ports or multimodal transport projects, and create specialized port clusters of "port + container", "port + energy", "port + iron ore" and "port + ro-RO".
(3) Give full play to the leading role of the port and shipping sector, with port investment taking the lead and port-related industries following suit, to drive the coordinated development of sectors such as "port + logistics", "port + shipping", and "port + energy". At the same time, leverage capital companies to empower the assets of each sector to be optimized, strengthened, and expanded.
In terms of smart port construction: Huangshi New Port has completed the acceptance of the basic network communication and 5G private network construction project, as well as the overall intelligent project of the bulk cargo terminal in the third phase, achieving full automation of bulk cargo terminal operations. Huizhou Quanwan Coal Port plans to complete the project acceptance of the integrated production management platform, the integrated equipment and material management platform, and the integrated intelligent operation management platform for outlying islands, and will fully promote the implementation of the technical transformation project for improving the efficiency of the remote intelligent precise loading train system. Xiaomo Port has completed the acceptance of the scientific and technological innovation research and development project for the roll-on/roll-off system and environmental monitoring system.
In terms of green port construction: Huangshi New Port plans to complete the handover and acceptance of the third phase of the bulk cargo land greening project and upgrade the green corridor project. Huizhou Quanwan Coal Port is fully committed to the green port grade evaluation work for dedicated dry bulk terminals, aiming to build a national demonstration of green coal terminals. Xiaomo Port promotes the application of green energy, adjusts its energy structure, further enhances the energy efficiency of its equipment, and builds a demonstration port area for a "zero-carbon port".
