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Annual Report 2020 Section 1 Section 2 Section 3 OverviewAnnual of Report Tianjin Port Opportunities China’s Port Development and Challenges Industry and2020 in 2020 Port of Tianjin Section 1 Overview of China’s Port Industry and Port of Tianjin China Throughput and Trade Information Throughput at Major Ports in China China Total GDP value Million Million Tonnes RMB$Bn TEUs Total cargo dummy1 dummy2 Container 16000 300 2016 11830 218 120000 250 2017 12644 237 98652 101599 12000 100000 91928 2018 13300 250200 83204 74640 8000 2019 13951 261150 80000 2020 14549 264100 4000 60000 50 40000 0 0 20152016 201711464 2018 2019 2020 210 20000 Total cargo Container 0 2016 2017 2018 2019 2020 Source: Ministry of Transport of the PRC, National Bureau of Statistics Source: General Administration of Customs, PRC China Export Value China Import Value US$Bn US$Bn 2500 3000 2136 2487 2499 2590 2078 2057 2500 2263 2000 1841 2097 1587 2000 1500 1500 1000 1000 500 500 0 0 2016 2017 2018 2019 2020 2016 2017 2018 2019 2020 Source: General Administration of Customs, PRC Source: General Administration of Customs, PRC 4 Overview of China’s Key Port Zones 2020 Throughput Change vs 2019 Total Cargo Container Total Cargo Container (m tonnes) (m TEU) China’s Key Port Zones Bohai Bay Tianjin 503 18.4 2.2% 6.1% Dalian 334 5.1 -8.8% -41.7% Tangshan* 703 3.1 7.0% 5.8% Qingdao 605 22.0 4.7% 4.7% Yangtze River Delta Ningbo-Zhoushan 1172 28.7 4.7% 4.3% Shanghai 711 43.5 -0.8% 0.4% Bohai Bay Suzhou 554 6.3 6.0% 0.3% Yangtze River Delta Southeast Coastline Pearl River Delta Pearl River Delta Guangzhou 612 23.2 1.0% 1.5% Southwest Coastline Shenzhen 265 26.6 2.8% 3.0% Note* : Port of Tangshan includes Port of Jingtang and Port of Caofeidian Source: Ministry of Transport of the PRC, Chinese port 5 Port of Tianjin’s Industry Ranking Total Cargo Throughput of China Major Ports(Note) in 2020 1,400 Million 1,172 Port of Tianjin tonnes 1,200 grew by 2.2% yoy in 2020 1,000 800 711 703 612 605 554 600 503 496 400 200 - Ningbo - Shanghai Tangshan Guangzhou Qingdao Suzhou Tianjin Rizhao Zhoushan Container Throughput of China Major Ports(Note) in 2020 Million 50 43.5 TEUs 40 Port of Tianjin 28.7 grew by 6.1% yoy in 2020 30 26.6 23.2 22.0 18.4 20 11.4 10 6.3 - Shanghai Ningbo - Shenzhen Guangzhou Qingdao Tianjin Xiamen Suzhou Zhoushan Note : Top 8 ports in China in terms of total cargo throughput and container throughput Source: Ministry of Transport of the PRC 6 Section 2 Tianjin Port Development in 2020 Performance Summary Total cargo throughput increased 2.2% to 421.04million tonnes (2019: 411.83 million tonnes) Total container throughput increased 6.3% to 18.35 million TEUs (2019: 17.26 million TEUs) Revenue increase 2.7% to HK$15,490 million Gross Profit increased 4.2% to HK$3,358 million Profit attributable to shareholders was HK$636 million, representing 63.8% yoy increase. Basic earnings per share of HK10.3 cents Proposed final dividend of HK4.13 cents per share with a dividend payout ratio of 40% 8 Profit and Loss Information Revenue Segment results HK$15.5 billion (2.7%) HK$3.4 billion (4.1%) Cargo Handling Cargo Handling 14.9% 28.0% 2,307 Sales Sales 944 HK$ 46.1% Other Port HK$ Other Port Ancillary -0.4% 72.4% Services million 7,135 Ancillary Services million 39.0 % (15) 2,438 6,048 Change vs (HK$ million) 2020 2019 2019 Revenue 15,490 15,077 2.7% Change vs (HK$ million) 2020 2019 2019 - cargo handling 7,135 6,985 2.1% Segment results 3,367 3,234 4.1% Non-containerised cargo 4,468 4,442 0.6% - cargo handling 2,438 2,353 3.6% Containerised cargo 2,667 2,543 4.8% - sales (15) 142 -110.6% - sales 6,048 5,908 2.4% - other port ancillary services 944 739 27.8% - other port ancillary services 2,307 2,184 5.7% Change vs Change vs (HK$ million) 2020 2019 2019 (%) 2020 2019 2019 Gross profit 3,358 3,223 4.2% Gross profit margin (1) 21.7% 21.4% +0.3ppt. Note: (1) Gross Profit / Revenue Profit before income tax 1,797 1,516 18.5% Profit attributable to equity holders of the Company 636.2 388.5 63.8% 9 Cargo Handling Business Review Container Handling Business 2019 2020 Million 20 18.35 TEUs 17.26 15 12.12 10.05 10 5 - ThroughputThroughput (total (total) ) ThroughputThroughput (consolidated) (consolidated) The Group achieved total container throughput of 18.35 million TEUs, representing 6.3% increase yoy. The average unit price of the container cargo handling business was HK$220.1 per TEU, representing 13.0% decrease yoy. The average unit price denominated in RMB decreased by 12.2%, mainly due to the change in cargo mix and Tianjin Five Continents International Container Terminal Co., Ltd. becoming a subsidiary of the Group and thus the categorization of its container handling throughput into consolidated throughput figures. 10 Cargo Handling Business Review (con’t) Non-containerised Cargo Handling 2019 2020 Million 250 221.9 227.9 tonnes 200 160.1 168.3 150 100 50 - Throughput (total) Throughput (consolidated) Throughput (total ) Throughput (consolidated) Total Throughput of Major Types of Non-containerised Cargo Handling Change vs (Million tonnes) 2020 2019 2019 Metal Ore 113.9 104.63 8.9% Coal 60.17 62.18 -3.2% Crude oil 25.77 28.14 -8.4% Automobiles 1.64 1.64 0.0% Steel 9.50 10.92 -13.0% The average unit price of the non-containerised cargo handling business was HK$26.5 per tonne, representing 4.3% decrease yoy. The average unit price denominated in RMB decreased by 3.3% yoy. 11 Financial Position and Cash Flow Information Financial Position Change vs At 31 Dec 2020 At 31 Dec 2019 HK$mn 31 Dec 2019 Total assets 47,644 44,813 6.3% Total equity 29,064 26,504 9.7% Total borrowings 12,365 13,433 -8.0% Cash and cash equivalents 7,723 7,475 0.1% Total gearing (%) (1) 42.5 50.7 -8.2ppt. Current ratio 1.2 1.5 -20% Note: (1) Total borrowings / Total equity Cash Flow HK$mn 2020 2019 Net cash from operating activities 2,789 2,532 Net cash used in investing activities (0.09) (924) Net cash used in financing activities (3,120) (3,674) 12 Section 3 Opportunities and Challenges Challenges and Opportunities Challenges Opportunities Unprecedented economic shock and the Situated in a geographically increasing trade friction among major advantageous location to grasp the global economies brought about by the development opportunities provided COVID-19 pandemic by national initiatives such as One Belt One Road, Jing-Jin-Ji Integration, Volatile foreign exchange and interest Xiong’an New Area Construction, etc. rate environment Stronger central and local Enhanced environmental protection government support to accelerate consciousness and more stringent the construction of Tianjin to be the regulatory requirements on means of international shipping hub transportation in China Accelerated development in Equipped with advanced technology technological innovations such as 5G, IoT, and knowledge to build up an big data and artificial intelligence intelligent and green port Shift of global trade centers and Capable of providing high quality increasing use of cross border e- services through enhanced commerce, change of logistics model efficiency, lower cost and optimized from single-node connection to operations comprehensive value-added supply chain solutions 14 Future Strategies Positioning Action Plan Prioritize container handling business Optimise non-containerised cargo handling business Sustainable development of Upgrade and develop logistics port cargo handling, logistics business and related businesses Promote automation and through the build-up of a intelligence level of the port leading green and intelligent operations hub port Construct a greener and safer port area Expand the scale of port tugboat business Seek and engage in investments which do not compete with the Exploration of other business of Tianjin Port Co, investment opportunities including overseas business 15 Q&A Disclaimer This presentation and subsequent discussion may contain certain forward-looking statements with respect to the financial condition, results of operations and business of Tianjin Port Development. These forward-looking statements represent Tianjin Port Development’s expectations or beliefs concerning future events and involve known and unknown risks and uncertainties which could cause actual results, performance or events to differ materially from those expressed or implied in such statements. 17 .
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