Securities code: China Merchants Port Group Co.Ltd(001872) / 201872 securities abbreviation: China Merchants Port Group Co.Ltd(001872) / Zhaogang B
China Merchants Port Group Co.Ltd(001872)
Record of investor relations activities
No.: 202201
Investor relations activities \uf0a3 research on specific objects □ analyst meeting
Category □ media interview \uf0a3 performance briefing
□ press conference □ Roadshow
□ site visit
□ others (please specify other activities in words)
The name of the participant and the name of the name of the participant and the name of the participant and the name of the Tianfeng Securities Co.Ltd(601162) \ , grainfield Research Center, Jinglin assets, Golden Eagle Fund, Changjiang Securities Company Limited(000783) , China Securities Co.Ltd(601066) , Zheshang Securities Co.Ltd(601878) , The Pacific Securities Co.Ltd(601099) securities, Anxin securities Representatives of HSBC Qianhai securities and other institutions
Time: April 1, 2022
Location: 25th floor, China Merchants port building, No. 1, Gongye 3rd road, China Merchants street, Nanshan District, Shenzhen
Wang Xiufeng, vice chairman and CEO of the receptionist of the listed company; Chief financial officer Tu Xiaoping; Name of deputy general manager Lu Yongxin; Li Yubin, deputy general manager and Secretary of the board of directors; Xu Song, deputy general manager, etc
Part I: performance interpretation and business development of the company’s 2021 annual report.
Investor relations activities
Business: in 2021, the company completed a container throughput of 136.39 million TEUs, with a year-on-year increase of 12.0% and double-digit growth. Among them, China’s port projects completed 95.14 million TEUs, a year-on-year increase of 10.9%, higher than China’s overall growth rate (the container throughput of national coastal ports in 2021 announced by the Ministry of communications increased by 7.0% year-on-year); Overseas projects completed 33.57 million TEUs, a year-on-year increase of 16.3%. common
The bulk cargo throughput of the company was 613 million tons, with a year-on-year increase of 35.0%, which was mainly benefited from the joint-stock company Dalian Port absorbing and merging Yingkou port, which was changed to Liaoning Port Co.Ltd(601880) . Since February 2021, the company has included the business volume of Yingkou port in the statistics. Comprehensive development, intelligent information and auxiliary industries have also basically reached the expected indicators. Although the proportion is still small, there is a lot of room for growth.
Financial situation: in 2021, China Merchants Port Group Co.Ltd(001872) achieved an operating revenue of 15.284 billion yuan, with a year-on-year increase of 19.8%. The net profit deducted from non parent company was RMB 2.356 billion, with a year-on-year increase of 85.3%. Both reached record highs. It is mainly due to the rapid growth of business and the improvement of the operating efficiency of the main control and equity participation projects, which reflects the good performance of the core business of the port. The net profit attributable to the parent company was RMB 2.686 billion, with a year-on-year increase of 29.5%, and the roe reached 6.99%, with a year-on-year increase of 1.32 percentage points, realizing a large increase.
In 2022, the company will focus on seven aspects: home port construction, overseas expansion, comprehensive development, innovative development, market commerce, operation management and capital operation, solidly promote the construction of world-class port comprehensive service providers, continuously enhance the core competitiveness of the enterprise, improve profitability and strive to create better returns for shareholders.
Part II: interactive communication.
1. What is the main direction of the company’s port layout in China in the future?
A: in terms of China’s port layout, the company will seize the supply side reform opportunity, based on the goal of “regional integration and enhancing coordination”, continue to look for integration and cooperation opportunities from the five coastal port groups, further expand and improve China’s port network layout, highlight key points, make full efforts to promote, lead the new direction of regional port integration, continuously improve the quality of port development and maximize the efficiency of port assets, Based on the Pearl River Delta, strengthen the home port, develop the Yangtze River Delta, improve asset quality, radiate ports in other regions, and expand the influence of the company.
In the future, based on the new development stage, the company will completely, accurately and comprehensively implement the new development concept, integrate and serve the new development pattern, take high-quality development as the goal, and strive to become a world-class comprehensive port service provider. Always adhere to the two development paths of “endogenous growth + innovation and transformation”, continuously improve the quality of customer service, continuously improve the competitiveness of the global market, seek more returns for shareholders, and contribute to supporting the development of local economy and industry and promoting the good development of the port industry.
2. What is the company’s view on the continuous high operation of freight rates in the port and shipping market? Are there plans to increase handling rates?
A: the company believes that the prosperous environment of the shipping market raises the cost of port handling
At the same time, China’s handling cost level is still far from the international level. The rate negotiation of all ports of the company in 2022 has come to an end. Under the favorable environment of high freight rates and the rate increase issued by some ports, the rate of Chinese ports has increased by different percentages this year, while the rate of overseas projects is expected to increase according to the inflation rate of various regions.
3. Please introduce the progress of the company’s Guangdong Hong Kong Macao Dawan district combined port project? A: Guangdong Hong Kong Macao Dawan combined port project is a trade facilitation platform built in cooperation with Ping An group. By the end of 2021, the combined port model has been extended to 10 Dawan branch terminals such as Shunde and Beijiao, and has completed the data upload and joint commissioning test of 14 combined port terminals, serving more than 1300 import and export enterprises in Dawan District, helping the continuous improvement of trade facilitation in Dawan district. This year, the combined port model is expected to continue to promote 10 terminals, provide low-cost, efficient and convenient logistics services for import and export enterprises in Dawan District, and boost the high-quality development of Dawan district.
4. Does the conflict between Russia and Ukraine have an impact on the company’s business? How does the company study and judge the subsequent impact on the industry?
A: in terms of the impact on China Merchants Port Group Co.Ltd(001872) the company’s shenchiwan bulk cargo terminal and Djibouti terminal may be affected to some extent, but the overall impact is limited due to the small business scale.
In the short term, the Russian Ukrainian conflict has caused uncertainty in the export and transshipment of containers in some European ports, and congestion in some European ports. We need to actively pay attention to its impact on the operation of the supply chain.
In the long run, the conflict between Russia and Ukraine will affect the dry bulk cargo transportation in the Black Sea region, and the world port industry will face the structural adjustment of major trade routes. Trade restrictions in this region will lead to the diversion of import and export trade to other countries. Grains such as China, Central Asia, Arabia and North Africa need to be imported from the United States and South America, and the route distance will be lengthened.
5. What impact does covid-19 epidemic prevention and control have on the company? What are the company’s plans for epidemic prevention and control in the next step?
A: at present, the operation of the company’s main ports outside China is basically stable, but the repeated covid-19 epidemic outside China has also brought some challenges to the terminal production. In 2021, the epidemic situation in various regions of China was sporadic and repeated, and some ports upgraded the level of epidemic prevention and control accordingly, resulting in the extension of waiting time of ships in port, affecting the handling capacity of terminals, and prolonging the round-trip cycle of container loading and unloading. In order to avoid the delay of shipping schedule, the shipping company will also adjust the route and adopt port hopping to deal with it. Therefore, each port has heavy container detention in varying degrees.
At the same time, the delay of ships caused by the epidemic also makes the number of empty ships and overtime ships more than in previous years. In the face of the complex and severe situation of the recent epidemic situation, China Merchants Port Group Co.Ltd(001872) through various means, strive to ensure the smooth and stable supply chain system China Merchants Port Group Co.Ltd(001872) its terminals actively optimize the operation process, reduce the time of ships in port as much as possible, actively communicate with shipping companies and cargo owners, implement the heavy container reservation system, reduce the detention time of heavy containers in the yard, and strengthen the overall coordination of production and operation on the premise of ensuring the prevention and control of the epidemic. On the other hand, we continued to improve the prevention and control mechanism, actively promoted the construction of service stations in the port area, and implemented closed-loop management for key front-line personnel, effectively resolving the risks related to the epidemic.
In short, China Merchants Port Group Co.Ltd(001872) not only attaches great importance to epidemic prevention and control, but also adheres to safe production and operation. Under the severe and complex situation of the epidemic, we have promoted the epidemic prevention and control with high standards and normalization, so as to ensure the stable security situation that Chinese employees are free of infection and can be controlled overseas; At the same time, implement the joint prevention and control mechanism, effectively coordinate all relevant parties, ensure the safe production and operation of the port, and maintain the “double chain” stability of the industrial chain and supply chain.
Annex list (if any) none
Date: April 1, 2022
