CMPort Holds 2024 Interim Results Press Conference

    On August 30, China Merchants Port Holdings Co. Ltd. (“CMPort,” 00144.HK) held its 2024 Interim Results press conference in Hong Kong, both online and offline. The conference was chaired by Xu Song, Vice Chairman of the Board and CEO of CMPort.

    During the conference, Xu Song presented the company’s 2024 interim financial results on behalf of the management team. Following the presentation, Xu Song, along with Managing Director Lu Yongxin and CFO Tu Xiaoping, answered questions from the press.

    Xu Song responded to a question about the future development of Hong Kong’s port industry. He expressed optimism, highlighting several points: First, Hong Kong’s geographic location provides a distinct advantage, maintaining its status as a leading international transshipment hub. Second, Hong Kong continues to lead globally in maritime professional services, including ship registration, financing and management, maritime insurance, and maritime law and arbitration. Third, with its strategic location, free economic system, and extensive experience in international trade, Hong Kong retains its strengths in building an international shipping center.

    Regarding CMPort’s development in Sri Lanka, Xu Song stated that the company is focusing on optimizing its overseas assets by leveraging its control over key terminals and industrial parks, including Colombo International Container Terminal (CICT) and Hambantota International Port (HIPG) in Sri Lanka, Djibouti Port, and Brazil's TCP. The goal is to enhance the efficiency of existing overseas operations, positioning CICT as an international container hub and HIPG as a comprehensive regional port. Currently, CICT has reached full operational capacity and is generating the expected economic returns, while HIPG is steadily advancing its investment attraction and park development, with confidence in contributing to Sri Lanka’s industrial development and economic growth.

    Many journalists were interested in CMPort's overseas investments. Lu Yongxin explained that the company is continuously refining its global port network, seizing opportunities in emerging markets, and expanding strategically at key locations to “increase capacity.” The company actively implements the strategy of “deepening its presence in Hong Kong, focusing on Southeast Asia, and fine-tuning operations in the Middle East and Latin America.” CMPort closely monitors the expansion trends of major port and shipping industry giants, thoroughly understands the current market dynamics, and looks for opportunities in industry investment and mergers and acquisitions. From the perspectives of strategic leadership, commercial viability, and risk control, the company seeks to invest in suitable targets, optimize its business model and port services, and continuously explore opportunities for innovation and upgrades.

    Regarding the company’s financial performance in the first half of the year, Tu Xiaoping responded that in the first half of 2024, CMPort’s business volume drove revenue growth, and the company saw notable success in reducing costs and improving efficiency, leading to a steady increase in profits. The company’s asset position remains solid, and its debt ratio is at a healthy level. In the first half of the year, the company achieved a net profit attributable to equity holders of RMB 4.452 billion, a year-on-year increase of 32.9%. The return on equity (ROE) for the half year was 4.4%, up 0.9 percentage points from the previous year. The company currently has ample operating cash flow, and dividends have reached a new high in recent years.

    During the conference, the management team also addressed questions related to digital development, market opportunities, and the progress of major projects.