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Home News Sinotrans 2023 annual results briefing: Key insights

Sinotrans 2023 annual results briefing: Key insights

Sinotrans Limited held its 2023 Annual Results Briefing on 25 March 2023, with important presences including Song Rong, the executive director and general manager, Wang Jiuyun, CFO, Li Shichu, vice president and board secretary, Gao Xiang, vice president and chief digital officer, as well as independent directors in attendance.

In the previous year, Sinotrans said it actively responded to China Merchants Group's “The Third Entrepreneurship Undertaking” by focusing on building the smile curve and Malik curve. The company successfully transformed market stock into Sinotrans’ increment, leading to continuous improvements in its business structure, enhanced management efficiency, and bolstered development resilience.

Notably, the company reported revenues of US$14 billion and achieved a record-high net profit of US$580 million, marking a year-over-year increase of 3.5%. Concurrently, the company optimized its debt structure, resulting in a decrease of 5.8% points in both the asset-liability ratio and interest-bearing liability ratio, which now stand at 47.13% and 24.16% respectively.

The Board proposed a final dividend of US$0,02 per share, with an annual dividend payout of US$0,04 per share, reflecting a payout ratio of 50.40%.

During the briefing, Song Rong presented an overview of the company's business operations, highlighted the performance achievements of 2023, and outlined Sinotrans' business plan for 2024. He engaged in productive discussions with attending investors, alongside the management team, covering major business initiatives, digital transformation efforts, technological research, innovation endeavours, and future development strategies.





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