Summary by Futu AI
Oriental Overseas International Limited (the “Company” or “Oriental Overseas International”) announced its results for the year ended 31 December 2023. The company's shareholders accounted for a profit of $13.68 billion, down significantly from $99 million in 2022. Operating income fell from $198,20 billion in 2022 to $83.44 billion in 2023. Operating profit was $14.06 million, down from $100.79 million a year earlier. The container shipping and logistics business is a major source of revenue, but is affected by factors such as weaker market demand, lower freight prices and alleviation of supply chain bottlenecks. The company received seven new container ships in 2023 and expanded the route network layout through cooperation with member units and alliances of the Mideast Shipping Group. In addition, the company is advancing digital development and enhancing customer...Show More