Performance of China's major listed port enterprises in the first half of the year

Forwarding an industry information from Souhang

Recently, China's major coastal listed port enterprises have announced their performance in the first half of this year. Many port enterprises said in their performance reports that port handling and collection and distribution operations were adversely affected by the epidemic.

However, under the highly efficient and coordinated epidemic prevention and control and economic and social development in China, the resumption of work and production continued to improve, and the economic operation gradually recovered. In addition to the introduction of a number of policies and measures to promote the stability and quality of foreign trade, and the official entry into force of RCEP, the growth rate of foreign trade has rebounded significantly, driving the recovery growth of port business, and port development opportunities and challenges coexist.

Overall good performance

According to the performance report, in the first half of this year, Shanggang Group (hereinafter referred to as "Securities") achieved an operating income of 20.094 billion yuan, up 15.73% year on year; The net profit was 10.814 billion yuan, up 24.04% year on year. The container throughput of the home port reached 22.545 million TEU, down 1.7% year on year; The cargo throughput of the home port was 243 million tons, down 9.9% year on year.

Ningbo Zhoushan Port achieved an operating income of 13.194 billion yuan, up 21.46% year on year; The net profit was 2.355 billion yuan, up 4.69% year on year. The container throughput reached 21.04 million TEU, up 7.9% year on year; The cargo throughput was 538 million tons, up 4.2% year on year.

Qingdao Port achieved an operating revenue of 9.946 billion yuan, up 18.61% year on year; The net profit was 2.311 billion yuan, up 5.97% year on year. Qingdao Port and its joint ventures and associates completed a container throughput of 13.01 million TEU, up 11.6% year on year; The cargo throughput reached 315 million tons, up 9.7% year on year.

Liaogang achieved an operating income of 5.789 billion yuan, down 5% year on year; The net profit was 742 million yuan, down 30% year on year. The container throughput reached 3.927 million TEU, a year-on-year decrease of 9.5%.

Guangzhou Port achieved an operating revenue of 6.207 billion yuan, up 3.34% year on year; The net profit was 683 million yuan, up 27.14% year on year. The container throughput was 10.992 million TEU and the cargo throughput was 263 million tons, both of which increased slightly year on year.

The operating revenue of Beibu Gulf Port was 3.017 billion yuan, up 12.06% year on year; The net profit was 554 million yuan, up 7.86% year on year. The container throughput reached 3.165 million TEU, a year-on-year increase of 21.36%; The cargo throughput was 139 million tons, up 6.95% year on year.

Tianjin Port achieved an operating revenue of 5.712 billion yuan, down 21.96% year on year; The net profit was 523 million yuan, up 8.37% year on year. The container throughput reached 10.039 million TEU, down 2.5% year on year; The completed throughput was 222 million tons, down 0.15% year on year.

During the reporting period, Rizhao Port achieved an operating revenue of 3.654 billion yuan, up 19.32% year on year; The net profit was 446 million yuan, up 27.02% year on year. The cargo throughput reached 150 million tons, up 9.57% year on year.

Yantian Port achieved an operating income of 374 million yuan, up 20.98% year on year; The net profit was 235 million yuan, up 2.72% year on year. Yantian International (Phase I and Phase II), in which Yantian Port shares shares, completed a container throughput of 1556500 TEU, up 6.70% year on year; The container throughput of the West Port Area Terminal Company, which is a shareholder, reached 1.2077 million TEU, up 6.7% year on year.

During the reporting period, Xiamen Port achieved an operating revenue of 12.636 billion yuan, up 11.23% year on year; The net profit was 150 million yuan, up 16.22% year on year.

Lianyungang Port achieved an operating income of 1.091 billion yuan, up 14.98% year on year; The net profit was 63 million yuan, up 24.03% year on year.

The challenge is still in the established strategy

From the perspective of performance, Shanghai Port Group achieved its best performance in the first half of this year. Shanghai Port Group said that it is committed to building a world-class shipping hub in accordance with the development direction of "smart ports, green ports, science and technology ports, and efficient ports".

The performance of Ningbo Zhoushan Port has still achieved significant growth, mainly benefiting from the increase in business volume of trade business, the increase in business volume and rate of container handling and related business sectors, and the growth in transportation and logistics business.

In order to cope with the severe and complex international situation and the impact of the epidemic, in the first half of this year, Qingdao Port insisted on both prevention and control of the epidemic and production and operation, gave full play to the advantages of the port platform, seized the policy enabling opportunities such as the Shandong Free Trade Zone, the Shanghai Cooperation Demonstration Zone and the RCEP Pilot Demonstration Zone, and continued to increase routes, expand space, expand transit, and open trains, build land ports and expand cargo sources in the land direction.

While maintaining stable port production and continuously optimizing port services, Guangzhou Port added 13 foreign trade routes to further expand routes to Europe and Australia.

Sea rail intermodal transport volume also increased significantly. In the first half of the year, the number of intermodal transport containers in inland ports totaled 115000 TEU, up 49.8% year on year. Nansha Port Railway started to operate with good momentum, breaking through 10000 TEUs in a single month, and opened the first China Europe train from Nansha Port. Guangzhou Port has also strengthened the construction of "Guizhou Guangzhou", "Chongqing Guangzhou" and "Hunan Guangdong Africa" channels. The port's supporting service functions have been continuously enhanced, and the construction of two-way sea land channels and port logistics network has reached a new level.

It is worth noting that despite the challenges faced by ports, they are still continuing to promote high-quality development.

Song Tianwei, President of Tianjin Port, said in response to a question from a reporter of China Aviation Weekly at the "Online Group Reception Day" held by investors recently that Tianjin Port will continue to promote the construction of smart ports, promote the automation transformation project of large equipment of Tianjin Port, the intelligent control system of Tianjin Port, the comprehensive energy control platform of Tianjin Port and other projects, enhance the management level of port production and operation, and improve the port service capacity. In the second half of the year, we will continue to strengthen market development and expand the supply market.

In the first half of this year, Beibu Gulf Port Qinzhou Dalanping South Operation Area No. 7-8 automated berths opened for operation, marking the world's first U-shaped process and the official launch of the country's first sea rail intermodal container terminal, which will significantly improve the comprehensive capacity and intelligent level of Beibu Gulf Port, enhance the international competitiveness of Beibu Gulf Port, and comprehensively break the bottleneck of infrastructure for the operation of Beibu Gulf Port's ocean routes. It is an important milestone in the history of Beibu Gulf Port.

In view of the impact of the development trend of the shipping industry on the port industry, as well as the development of the port industry itself, Shanghai Port Group has analyzed that, in the long run, the concentration of the international shipping market will continue to increase, and the development trend of large-scale ships, operation alliance, grid operation, and full logistics will continue, which will further improve the service level, efficiency, and quality of international hub ports, optimize the collection and distribution system, and extend the service format, Plan resource allocation and put forward higher requirements.

From the perspective of the development of the port industry itself, there are many challenges in the future.

Shanghai Port Group believes that, in the long run, first, under the influence of the current global high inflation environment and monetary tightening policy, the global transport demand continues to fall, the reshaping of the global industrial chain supply chain will accelerate, the downward pressure on the international shipping market will increase, and the port industry will inevitably be affected.

Second, in the post epidemic era, the alliance of shipping companies and the enlargement of ships will further highlight the status of hub ports, reduce the attachment of non basic ports, and intensify the competition of international hub ports.

Third, the operating cost of the terminal has risen rigidly, the bottom line constraints on resources and environment have been further tightened, and the profitability of the port industry will continue to be under pressure.

Fourth, the level of coordinated development of port clusters will continue to improve, and stable cooperation and competition will be established between ports to jointly promote the high-quality development of port integration in the region.

Fifth, scientific and technological innovation is the key support to promote the high-quality development of ports. Relying on 5G, artificial intelligence, cloud computing, the Internet of Things, big data, blockchain and other new generation information technologies, it will improve the level of port intelligence and automation, promote the construction of the port and shipping digital ecosystem, and empower the digital transformation and innovative development of the port industry.

The performance of the second half of the year may really show whether the port enterprises' response measures are appropriate.

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