CMPort(001872) 新浪财经·2025-04-08 02:12Core Viewpoint - China Merchants Port achieved record high performance in 2024, focusing on global hub ports and regions with high market potential for investment opportunities in ports, logistics, and related infrastructure [1][2] Financial Performance - In 2024, China Merchants Port reported revenue of 16.131 billion yuan, a year-on-year increase of 2.41% - The net profit attributable to shareholders reached 4.516 billion yuan, up 26.44% year-on-year, with a net profit of 4.047 billion yuan after deducting non-recurring gains, reflecting a 21.2% increase [1][2] - The company plans to distribute a cash dividend of 7.40 yuan per 10 shares, totaling approximately 1.843 billion yuan, and has repurchased shares worth 50.548 million yuan, bringing total cash returns to 1.893 billion yuan, which is 41.92% of the net profit [1] Business Segments - China Merchants Port operates three main business segments: port operations, bonded logistics, and property development and investment, with port operations being the core segment, generating 15.363 billion yuan in revenue, accounting for 95.24% of total revenue [2] - The company achieved a container throughput of 195.159 million TEU in 2024, an increase of 8.3% year-on-year, and a bulk cargo throughput of 1.26 billion tons, up 0.6% [2] Container Throughput - Container throughput at the Shenzhen Western Port reached 15.991 million TEU, a 17.7% increase, with foreign trade containers capturing over 50% market share [3] - Other ports under the company's control also saw growth, with Shantou Port, Zhanjiang Port, Shunde New Port, and Zhangzhou Terminal reporting increases in container throughput [3] Global Expansion - The company is focusing on overseas investments, with a strategy to enhance its global port network, covering 26 countries and regions across Asia, Africa, Europe, Oceania, South America, and North America [3][4] - Recent acquisitions include a 51% stake in the Indonesian NPH project and a share purchase agreement for the Brazilian VAST oil terminal project [5] Market Trends - The global port and shipping market is undergoing significant changes, with geopolitical tensions and trade frictions exposing vulnerabilities in supply chains [6] - The Baltic International Maritime Council projects a 4% to 5% growth in cargo volume for 2024, while global container fleet capacity is expected to grow by 10.2% [6] Future Outlook - The company anticipates a shift towards globalized port networks, integrated port services, digitalized operations, and green development [7] - Investments in automation and smart port technologies are being prioritized to enhance operational efficiency and competitiveness [7][8]