| [For Immediate Release] | 28 March 2017 |
Financial Highlights:
(Hong Kong, 28 March 2017) Shenzhen International Holdings Limited ("Shenzhen International" or the "Company", HKEx: 00152) announced the operating results of the Company and its subsidiaries (collectively the "Group") for the year ended December 31, 2016 (the "Year").
In 2016, the weak global economic growth, the economic transformation of China and increased currency volatility brought challenges to the Group. Relatively speaking, China's economic development remained stable and there is continual growth in demand for quality logistics infrastructure facilities. The Group acted vigorously and seized arising opportunities, operating results recorded stable growth. Revenue increased y-o-y by 16% to HK$7,787 million, and profit attributable to shareholders of core business increased by 55% to HK$1,751 million compared to the year of 2015. The Board recommended a final dividend of HK$0.43 per share, corresponds to a dividend payout ratio of 40%.
The Group's logistics business reported steady growth during the year, with average occupancy rate above 96% for logistic parks. Improvement in the Group's core business operating structure and the satisfactory progress in "China Urban Integrated Logistics Hub" network expansion further enhanced our logistic business growth. During the year, logistic business recorded revenue of HK$1,731 million, which was at similar level compared to the corresponding period of the previous year excluding exchange rate fluctuation and other one-off items. Benefited from port business growth and the newly commenced logistic finance business with higher profit margin, profit attributable to shareholders increased by 10% to HK$232 million compared to the corresponding period of last year. For toll road business, most of the toll road projects recorded stable growth in traffic volume and toll revenue, with additional revenue contribution from acquisition projects in 2015, total revenue of toll road business increased by 23% to HK$5,910 million, compared with the corresponding period of the previous year.
For other investments, Shenzhen Airlines, an associate in which the Group holds 49% equity interest, recorded continual growth in passenger volume and total revenue of RMB25.97 billion, increased by 9% compared with the corresponding period of the previous year. Benefitting from the substantial decrease in fuel costs, Shenzhen Airlines contributed a profit of approximately HK$834 million to the Group during the Period, increased by 119% compared with the corresponding period of the previous year. The Group grasped the opportunity in China A share stock market to dispose 24.57 million CSG A shares and realized a gain after tax of HK$255 million.
Looking ahead, Mr. Gao Lei, Chairman of Shenzhen International Holdings Limited said, "Although uncertainties are still expected in the global economic landscape, China Government's new policies including Urbanization Development, "Internet Plus" and "One Belt One Road" will drive China's long-term economic growth and present favorable opportunities to the Group.
The Group currently has 17 "China Urban Integrated Logistic Hub" projects in total and its nationwide network is coming into shape. In 2017, the Group will continue the investment in, construction and operation of “China Urban Integrated Logistics Hub†projects and explore in Pearl River Delta region, Yangtze River Delta region and Beijing area, and strive to establish presence in logistics node cities like Kunming.
In December 2016, the Group signed capital increase agreement with a leading property developer for the joint development of the Qianhai phase 1 residential project and locked in the economic value of the relevant land parcel which contributed profit before tax of HK$648 million. As a major job task for the year, the Group will continue to drive the implementation of the Group's 380,000sqm GFA land consolidation and preparation work for our Qianhai Project. As for the Meilin Checkpoint Urban Renewal Project, it is in steady progress and the completion of HTY Logistic Centre relocation laid a solid foundation for the development of the relevant land parcel, and the Group will strive to commence construction in 2017."
Shenzhen International Holdings Limited
Shenzhen International Holdings Limited is a company incorporated in Bermuda with limited liability and is listed on the main board of the Stock Exchange of Hong Kong. The Group is principally engaged in the investment, construction and operation of logistic infrastructure facilities, as well as providing various value-added logistic services to customers leveraging its infrastructure facilities and information services platform. Shenzhen Investment Holdings Company Limited, the controlling shareholder of the Company, is a corporation wholly-owned by Shenzhen Municipal People's Government State-owned Assets Supervision and Administration Commission.
Any enquiry, please contact:
Wonderful Sky Financial Group Holdings Limited
Ms. Nicole Liu / Ms. Jenny Zhang
Tel: (852) 3970-2298 / 3970-2121 / 3970-2262
Email: szihl@wsfg.hk
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