Ningbo Zhoushan Port (601018) Q4 2024 earnings summary

Executive summary

• Revenue for the year ended December 31, 2024, reached RMB 28.70 billion, up 10.5% year-over-year.

• Net profit attributable to shareholders was RMB 4.90 billion, an increase from RMB 4.67 billion in 2023.

• Basic and diluted EPS were RMB 0.25, compared to RMB 0.24 last year.

• The board proposed a cash dividend of RMB 1.08 per 10 shares, pending shareholder approval.

Financial highlights

• Operating profit totaled RMB 6.92 billion, up from RMB 6.27 billion year-over-year.

• Gross margin for the year was 29.5%, slightly higher than the previous year.

• Non-recurring gains (mainly from government subsidies and investment income) contributed RMB 1.29 billion before tax.

• Net cash flow from operating activities was RMB 5.41 billion.

Outlook and guidance

• Management expects continued growth in core port and logistics operations, supported by infrastructure investments and favorable tax policies.

• The company will focus on expanding logistics, trade, and value-added services to drive future revenue.