On April 2, China Merchants Port Holdings Co., Ltd. (hereinafter referred to as “CMPort”) released its 2024 annual report.
The company’s operating income in 2024 was RMB 16.131 billion (approximately US$2.210 billion), a year-on-year increase of 2.41%; net profit attributable to shareholders was RMB 4.516 billion (approximately US$619 million), a year-on-year increase of 26.44%; net profit attributable to shareholders after deducting non-recurring items was RMB 4.047 billion (approximately US$554 million), a year-on-year increase of 21.20%; basic earnings per share was RMB 1.81.
As a world-class port integrated service provider, CMPort’s core container business also ran at an accelerated pace in 2024, with an annual container throughput of 195,159,000 TEU, an increase of 8.3% year-on-year. Both domestic and overseas container businesses showed a rapid growth trend. The container throughput of mainland China’s port projects reached 152.301 million TEUs, a year-on-year increase of 8.5%; the container throughput of China’s Hong Kong and Taiwan port projects reached 6.023 million TEUs, a year-on-year increase of 3.4%; and the container throughput of overseas port projects reached 36.835 million TEUs, a year-on-year increase of 8.1%.
It is worth noting that the company has released an announcement on its business volume from January to February 2025. The company’s cumulative container throughput reached 31.979 million TEUs, a year-on-year increase of 7.1%, continuing its business growth trend in 2024.
From the data of the annual report, in 2024, the company realized overseas operating income of RMB 5.51 billion, an increase of nearly 15.0% year-on-year, accounting for 34.2% of the total operating income, an increase of 3.7% year-on-year, and the gross profit margin of the overseas business is as high as 55.2%, pulling the company’s overall gross profit margin improvement.
In terms of projects, the company’s overseas business showed a rapid growth trend in 2024, with a year-on-year increase of 8.1%. Among them, the overseas main control terminals in emerging markets performed particularly well. Sri Lanka CICT, Brazil TCP, and Togo LCT completed container throughput of 3.394 million TEUs, 1.558 million TEUs, and 1.663 million TEUs, respectively, up 4.5%, 24.3%, and 3.9% year-on-year, respectively, all setting new business records.In addition, Sri Lanka’s Hambantota Port officially launched container business in the first half of 2024, completing a full-year container throughput of 53,000 TEUs, with great potential for business growth.
CMPort is a Hong Kong, China-based investment holding company principally engaged in port-related businesses. The Company operates through four segments. The Port segment is engaged in the operation of container terminals and bulk cargo terminals. The bonded logistics and cold chain segment is engaged in the operation of logistics parks, port transportation, cold storage logistics and airport cargo handling. The port-related manufacturing segment engages in container manufacturing. The Other Businesses segment is engaged in property development and investment, integrated housing manufacturing and headquarter functions.