CMPort Expects Steady Growth in 2H2022

On 2 June 2022, China Merchants Port Holdings Company Limited, held an Annual General Meeting in Hong Kong. The AGM was hosted by Mr. Yim Kong, Executive Director and Managing Director of CMPort.
 

Majority of the votes were casted in favor of the five resolutions proposed by the Board and hence, all the resolutions were duly passed. The approved resolutions include: 1) to declare a final dividend of 72 HK cents per share for the year ended 31 December 2021, 2)to receive and consider the Audited Consolidated Financial Statements for the year ended 31 December 2021 together with the Report of the Directors and the Independent Auditor's Report, and 3) to re-elect Mr. Deng Renjie, Mr. Wang Xiufeng, Mr. Deng Weidong, Mr. Yim Kong, Mr. Kut Ying Hay, Mr. Lee Yip Wah and Mr. Bong Shu Ying Francis as Directors of the CMPort, etc.
 

After the AGM, Mr. Yim Kong and Ms. Carol Cheng, General Manager of Office of Board of Directors  addressed questions from the press. Reporters from ETNet, TVB, NOW TV, Infocast, Hong Kong Commercial Radio and AAStocks attended the press conference. Mr. Yim Kong said, “This year is CMPort's 30th year anniversary to be listed on the Hong Kong Stock Exchange and would like to take the opportunity to express my heartfelt thanks to all journalists and friends for their accurate and timely reporting of the company's information over the past 30 years. In the first quarter of this year, the Group's business performed well, with steady growth in business volume and profitability; however in April, due to the lockdown of Shanghai and the strengthening of epidemic prevention measures across the country, the Mainland China's business growth rate slowed down. The Group's container throughput from January to April completed 43.61 million TEUs; bulk cargo volume maintained steady growth and reached 180 million tonnes. Among them, the container business of the West Shenzhen  homebase port has returned to normal in April and the year-to-date throughput volume of from Shanghai International Port (Group) Co., Ltd.is still increasing. Container throughput from Colombo International Container Terminals Limited in Sri Lanka increased by 8.7%, Bulk cargo volume of Hambantota International Port Group (Private) Limited increased by 14.1% and HIPG Industrial Park welcomed the entry of the largest local cement manufacturer and the expansion of Ceylon tire plant.
 

Mr. Yim Kong emphasized, “As the pandemic eases, the pressure on the cost of epidemic prevention at the terminals will be reduced and the Pearl River Delta and Yangtze River Delta regions have resumed work and production. In addition, CMPort has adopted various refined management measures to manage cost. At the same time, the RCEP agreement came into effect at the beginning of the year and the traditional peak shipping season in the second half of the year is coming. All the above mentioned favorable factors will create favorable conditions for boosting the CMPort's operating performance in the second half of the year. Therefore, we maintain our forecast of steady growth of annual operating results unchanged.”
 

Regarding the increase in shipping freight rates and port tariffs in 2022, Ms. Carol Cheng responded, “In terms of freight rates, shipping demand has increased significantly since the pandemic and freight rates have increased in multiples compared to before the pandemic. With the normalization of the pandemic, we predict that the freight rates will remain high. Port tariffs are expected to increase on average by medium to high single digit, combined with the overall market conditions and the controllable operating costs such as in epidemic prevention together will have a positive impact on the Group's operating performance.”
 

As an enterprise that has been listed in Hong Kong for 30 years, CMPort will leverage on its development advantages in the port and shipping industry to actively seize the country's opportunities and assist Hong Kong's transportation and logistics industry to integrate into the Greater Bay Area. Also the Group would like to share experiences in innovative businesses such as 5G, digitalized technology and smart port application with industry peers. And join hands with related enterprises in Hong Kong to achieve digitalization transformation and upgrade to jointly write a new chapter in Hong Kong's transportation and logistics industry and create a better future.

Source: CMPort

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