Summary by Futu AI
HAI FENG INTERNATIONAL HOLDINGS LIMITED (SITC) ANNOUNCED ITS ANNUAL RESULTS FOR THE YEAR ENDED DECEMBER 31, 2023, SHOWING THAT THE COMPANY'S REVENUE FELL APPROXIMATELY 40.9% TO APPROXIMATELY $24.29 BILLION FROM APPROXIMATELY $41.13 BILLION IN 2022. Gross profit also decreased by approximately 68.5% to approximately $6.23 million from approximately $19.79 million, while gross profit decreased from approximately 48.1% to approximately 25.7%. Annual profit decreased approximately 72.5% to approximately $5.36 billion from approximately $19.50 million. Basic earnings per share are $0.20, compared to $0.73 for 2022. The company declared a final dividend of HK50 cents per share (equivalent to 6.39 cents). The company's business includes container transport and integrated logistics services, focusing on the Asian market. As of 31 December 2023, the Company operates 76 trade routes and owns 103 vessels. Despite the challenges of global economic trade and increased capacity delivery, the company remains profitable. Nine new container ships are expected to be delivered in 2024 and continue to focus on the Asian market to provide low-carbon, environmentally friendly, high-quality supply chain services.