On January 30, GLONGHUI | Phoenix Shipping (000520.SZ) announced that it expects a net loss of 12 million yuan to 8.5 million yuan in 2023, after deducting a non-net loss of 19.3 million yuan to 15.8 million yuan.
During the reporting period, the company made efforts to expand the market, innovate business models, strengthen internal control, develop endogenous momentum, expand the size of its customer base, and take multiple measures to increase revenue, improve ship efficiency, and reduce costs. In 2023, freight volume surpassed 30 million tons for the first time in nearly eight years, an increase of 20.16% over 2022, and a turnover of 41,815 billion tons/km, an increase of 29.7% over 2022. Through perseverance throughout the year, the company consolidated its revenue scale and expanded its market share. In 2023, the average value of CBCFI (Coastal Coal Freight Index), which is closely related to the company, was 626 points, down 24% year on year from 2022. Compared with 1,146 points in the same period in 2021, it fell 45%, and the freight rate fell below the cost line. Affected by this, the company did not increase production efficiency during the reporting period, and the overall profit level declined from last year.