Shanghai International Port (Group) Co Ltd (600018) H1 2024 earnings summary

Executive summary

• Revenue for H1 2024 reached RMB 19.84 billion, up 23.13% year-over-year, with net profit attributable to shareholders at RMB 8.42 billion, up 14.85% year-over-year.

• Container throughput at the main port hit 25.51 million TEUs, maintaining global leadership for the 14th consecutive year.

• The company announced an interim cash dividend of RMB 0.5 per 10 shares, totaling approximately RMB 1.164 billion, pending shareholder approval.

• Major projects, including the Luojing Phase I terminal and Xiaoyangshan North, advanced on schedule.

• Digital transformation, green port initiatives, and multi-modal logistics integration continued to drive operational improvements.

Financial highlights

• Operating income for H1 2024 was RMB 19.84 billion, up 23.13% year-over-year.

• Net profit attributable to shareholders was RMB 8.42 billion, up 14.85% year-over-year.

• Net profit excluding non-recurring items was RMB 7.22 billion, up 2.72% year-over-year.

• Basic and diluted EPS were RMB 0.3624, up 14.87% year-over-year.

• Operating cash flow was RMB 4.28 billion, down 20.42% year-over-year due to higher tax payments.

• Total assets at period-end were RMB 207.40 billion, up 1.88% from year-end 2023.

Outlook and guidance

• The company aims to achieve new historical highs in key production indicators for the full year.

• Focus remains on market expansion, reform, risk management, and talent development to support sustainable, high-quality growth.