Beijing business daily (reporter Lu Yang, Wang Yinhao) on the evening of March 21, COSCO services released its 2020 annual performance report. According to the announcement, in 2020, COSCO services will achieve a revenue of 2.023 billion yuan, a year-on-year increase of 11%; a gross profit of 511 million yuan, a year-on-year increase of 36%; a gross profit rate of 25.3%, an increase of 4.7 percentage points over 2019; and a net profit attributable to shareholders of 258 million yuan, a year-on-year increase of 25%.
According to the announcement, after excluding the interest income related to loans to the ultimate holding company, financial expenses related to asset-backed securities, other one-time profits and losses and related income taxes, the core profit of ocean services increased by 44% from 173 million yuan in 2019 to 250 million yuan in 2020. The board of Directors proposes to pay a final dividend of RMB 0.055 per share (equivalent to HK $0.066 per share) in cash.
As of December 31, 2020, the contracted construction area of oceangoing services is about 71.1 million square meters, the under management construction area is about 45.5 million square meters, and the reserve construction area is about 25.6 million square meters, increasing by about 20%, 12% and 35% respectively compared with that of 2019.
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