According to MNavigation, Shenzhen Yantian Port recently issued an important capital allocation announcement, and the company issued shares to specific objects to raise matching funds.
Specifically, the target of the issuance was finally determined to be 8 investors, of which COSCO SHIPPING Holdings, ICBC Financial Assets Investment Co., Ltd. and Bank of China Financial Assets Investment Co., Ltd. were the top three investors in the number of allotted shares among the eight investors in Yantian Port.
According to the announcement, the issuer and the joint lead underwriter in accordance with the principle of "price priority, amount priority, time priority", the above 15 valid "subscription quotations" for bookkeeping, according to their subscription price, subscription amount from high to low sorting, determined that the issue price is 4.38 yuan / share, the total number of shares subscribed for this issuance is 913,758,995 shares, and the total amount of funds raised is 4,002,264,398.10 yuan.
COSCO SHIPPING Holdings Co., Ltd. subscribed for more than 228 million shares with nearly 1 billion yuan, with a shareholding ratio of 4.39%, becoming the second largest shareholder after the controlling shareholder Shenzhen Port Group (the shareholding ratio decreased from 82.93% to 68.36%). Another major investor, ICBC Financial Asset Investment Co., Ltd., holds 3.29% of the shares, becoming the third largest shareholder.
This investment not only strengthens COSCO SHIPPING's presence in Yantian Port, but also provides financial support for the restructuring plan of Yantian Port. A portion of the proceeds will be used to pay for port assets acquired by the parent company, including a 100% stake in Guangdong Yantian Port Shenzhen-Shantou Port Investment Company and a 35% stake in Yantian Phase III International Container Terminal. The remaining funds are mainly used to repay the debts of listed companies.
Financial data is reported for the third quarter of 2024. In the first three quarters, the company achieved operating income of 613 million yuan, a year-on-year decrease of 9.52%; the net profit attributable to the parent company was 1.004 billion yuan, a year-on-year increase of 5.70%; deducted non-net profit of 1.003 billion yuan, a year-on-year increase of 107.13%; net cash flow from operating activities was 332 million yuan, a year-on-year increase of 9.88%; During the reporting period, the basic earnings per share of Yantian Port was 0.2343 yuan, and the weighted average return on equity was 7.52%.
In addition, according to MNavigation, in the first three quarters of this year, Shenzhen's import and export growth rate was faster than the national and provincial levels. As an important node of the global supply chain, Yantian Port is responsible for more than one-third of Guangdong's foreign trade import and export volume, and more than one-quarter of the country's exports to the United States. In the first three quarters of this year, YANTIAN added 16 new routes, mainly covering North America, South America, Australia and the Mediterranean.
In order to meet the rising demand for cross-border e-commerce shipments, Yantian Port recently added a new express line for cross-border e-commerce customers. This cross-border e-commerce line from Yantian to Los Angeles in North America has shortened the customer's stocking time to 3-4 days. At present, YANTIAN has a total of 11 cross-border e-commerce express lines, of which 9 go to the United States and 2 go to Australia, providing fast and stable logistics services for cross-border e-commerce sellers, greatly shortening the transportation time of goods and enhancing international competitiveness.
COSCO SHIPPING Ports Limited (CSP), through a joint venture with Hutchison Ports, holds a 13.36% stake in Yantian Phase III and a 14.6% stake in Yantian Phase I and Phase II.
Yantian Phase 3 Terminal is one of the core assets of Yantian Port, with a container throughput of nearly 8 million TEUs in 2023, accounting for 60% of the total throughput of Yantian Port. In addition, Xiaomo International Logistics Port, another important port operated by Yantian Port, is located about two hours' drive away from Yantian Port, mainly providing container and RoRo services.
Through these investments, COSCO SHIPPING not only strengthens its market position in southern China, but also lays a solid foundation for future expansion.
It is reported that at present, YANTIAN has worked with shipping companies, government departments at all levels and port joint inspection units to provide the market with high-quality shipping route services of "dense, multiple, fast and high" (i.e., dense routes, covering many ports, fastest arrival at the port of destination, efficient operation and customs clearance efficiency), with nearly 100 routes reaching all over the world every week.
According to MNavigation, as an important node in the global supply chain, Yantian Port is responsible for about one-third of Guangdong's foreign trade import and export volume and about one-quarter of the country's exports to the United States. YANTIAN has the most intensive European and American routes in South China, including the "Yantian Port-Long Beach Port" route with five flights per week, building an efficient and fast maritime logistics channel between the two places. As the last port of call for most routes leaving China, YANTIAN is able to ensure that the cargo arrives at the destination port in the West of the United States within 12.5 days.