T. Rowe Price 13. In respect of the risks related to overdue in delivery of imported goods and bad debts regarding payment on delivery, the Group has enhanced the qualification inspection on consignors and has built its negative list, rejected to take order or received deposits in advance. (18 years or above), cultural and educational background, The Company has adopted a Nomination Policy which sets out the, ethnicity, professional experience, skills, knowledge and, selection criteria and process and the board succession planning, considerations in relation to nomination and appointment of Directors, of the Company and aims to ensure that the Board has a balance, requirements of independent non-executive directors on the, of skills, experience and diversity of perspectives appropriate to the, board and independence of the proposed independent non-, Company and the continuity of the Board and appropriate leadership, executive directors in accordance with the Listing Rules; and, commitment in respect of available time and relevant interest, The Nomination Policy sets out the factors for assessing the suitability, to discharge duties as a member of the Board and/or board. The amendments are not expected to have any significant impact on the Group's financial statements. The consolidated financial statements include the financial statements of the Company and its subsidiaries for the year ended 31 December 2020. According to the records maintained by the Company, a summary of continuous professional development received by the Directors for the year ended 31 December 2020 is as follows: Type of continuous professional development, Mr. TSUI Yung Kwok (resigned on 18 December 2020), Mr. YEUNG Kwok On (resigned on 8 March 2021), Dr. ). Revenue generated by the Group's container shipping and logistics business for the year ended 31 December 2020 increased by approximately 8.9% from US$1,527.3 million for the year ended 31 December 2019 to US$1,662.8 million for the year ended 31 December 2020. For determining the entitlement to the proposed final dividend, the register of members of the Company will be closed from 3 May 2021 (Monday) to 5 May 2021 (Wednesday), both days inclusive, during which period no transfer of shares will be registered. All right reserved, The School of Economics and Management of Shanghai Maritime University visited SITC, SITC participates in the first "international carbon neutral 30 forum" in 2021, The first female crew of SITC work on board, SITC Container Maintaining(shanghai)Co.,Ltd,Tianjin Branch was established and opened, SITC Zhangjiang Office Management Skills Training Newsletters, SITC Logistics Indonesia Surabaya Depot was established, SITC International Cooperate with Dae Sun Shipbuilding, signing the Newbuilding Contracts, First "Zero-Tariff" Imported Container Carrier of Hainan Free Trade Port MV.HAI FENG HAI KOU comes into service, The opening ceremony of SITC International Academic Exchange Center was successfully held, SITCâs trip of Chinese Navigational Culture and the 30th Anniversary Celebration Cultural Activities Successfully Held, Congratulations for first launch of sea-rail container for Vietnam -- Guangzhou â Europe via âSilk Road on land and seaâ cooperated by SITCâChina RailwayâGuangzhou Port Group, SITC Shipping Management (Shanghai) Co., Ltd. On 10 September 2010, the Company adopted a share option scheme (the "Post-IPO Share Option Scheme") whereby the Board can grant options for the subscription of the shares of the Company (the "Shares") to the employees, managerial staff and senior employees and those other persons that the Board considers that they will contribute or have contributed to the Group (the "Post-IPO Scheme Participants") as described in the Post-IPO Share Option Scheme in order to serve as compliment and to reciprocate their contribution to the Group. DIRECTORS' RESPONSIBILITY IN RESPECT OF THE FINANCIAL STATEMENTS. (a) Amendments to HKFRS 3 are intended to replace a reference to the previous Framework for the Preparation and Presentation of Financial Statements with a reference to the Conceptual Framework for Financial Reporting issued in June 2018 without significantly changing its requirements. The principal duties of the Nomination Committee include reviewing the structure, size and composition of the Board, developing and formulating relevant procedures for the nomination and appointment of Directors, making recommendations to the Board on the appointment and succession planning of Directors, and assessing the independence of independent non-executive Directors. The Company has two business segments, including (i) "container shipping and logistics" segment; and (ii) "dry bulk and others", (i)Container shipping and logistics business. The change in the amount was mainly attributable to the overall increase in staff cost. ECLs are recognised in two stages. On 2 July 2020, SITC Logistics Jakarta Depot in Indonesia began operation smoothly. If you have changed your browser's security settings, you can click here. SITC will continue to optimize its unique business model, expand its service network in Asia, provide its customers with sophisticated services through construction of comprehensive logistics facilities and tailor-made logistics solutions, and work for the objective of becoming the first choice of customers. SUBSTANTIAL SHAREHOLDERS' INTERESTS AND SHORT POSITIONS. The annual results for the year ended 31 December 2020 of the Group have been reviewed by the Audit Committee. The audit committee of the Company (the "Audit Committee") consists of Dr. Liu Ka Ying, Rebecca, Mr. Tse Siu Ngan and Dr. Hu Mantian (Mandy), all of whom are the Company's independent non-executive directors. The Company appointed Ernst & Young as its auditor for the year ended 31 December 2020. Several measures have been implemented in order to mitigate environmental pollution, such as reducing fuel consumption; enhancing machines and equipment; carrying out maintenance for optimal operation condition; proactively developing new vessels; and developing an Office Automatic ("OA") paperless office system to minimise office wastage. To maintain its market competitiveness within the industry, the Group aims at delivering constantly high standards of quality in the service to its customers. SITC International Holdings Company Limited 海豐國際控股有限公司. • Derivative instruments that are designated as, and are effective hedging instruments, are classified consistently with the classification of the underlying hedged item. We also provide the Audit Committee with a statement that we have complied with relevant ethical requirements regarding independence and to communicate with them all relationships and other matters that may reasonably be thought to bear on our independence, and where applicable, actions taken to eliminate threats or safeguards applied. For the purpose of hedge accounting, hedges are classified as: • fair value hedges when hedging the exposure to changes in the fair value of a recognised asset or liability or an unrecognised firm commitment; or, • cash flow hedges when hedging the exposure to variability in cash flows that is either attributable to a particular risk associated with a recognised asset or liability or a highly probable forecast transaction, or a foreign currency risk in an unrecognised firm commitment; or. Hedges of a net investment in a foreign operation, including a hedge of a monetary item that is accounted for as part of the net investment, are accounted for in a similar way to cash flow hedges. Yang as a director of Hisense Group Holding Company Limited since 2014. Unrealised gains and losses resulting from transactions between the Group and its associates or joint ventures are eliminated to the extent of the Group's investments in the associates or joint ventures, except where unrealised losses provide evidence of an impairment of the assets transferred. The Conceptual Framework includes new chapters on measurement and reporting financial performance, new guidance on the derecognition of assets and liabilities, and updated definitions and recognition criteria for assets and liabilities. are held by Mr. YANG Shaopeng and Mr. YANG Xianxiang, respectively. In our opinion, the consolidated financial statements give a true and fair view of the consolidated financial position of the Group as at 31 December 2020, and of its consolidated financial performance and its consolidated cash flows for the year then ended in accordance with Hong Kong Financial Reporting Standards ("HKFRSs") issued by the Hong Kong Institute of Certified Public Accountants (the "HKICPA") and have been properly prepared in compliance with the disclosure requirements of the Hong Kong Companies Ordinance. The Audit Committee has met with the external auditors twice without the presence of the executive Directors. paperless office system to minimise office wastage. Compliance procedures are in place to ensure adherence to applicable laws, rules and regulations in particular, those have significant impact on the Group. Some data are hidden to fit your . In order to provide employees with health coverage, staff are entitled to medical insurance benefits as well as other health awareness programs. The grantees to whom an option has been granted under the Pre-IPO Share Option Scheme will be entitled to exercise his/her option in the following manner: (a) up to 25% of the Shares that are subject to the option so granted to him/her (rounded down to the nearest whole number) at any time during the period commencing from the first anniversary of 6 October 2010 (the "Listing Date") and ending on the second anniversary of the Listing Date; (b) up to 25% of the Shares that are subject to the option so granted to him/her (rounded down to the nearest whole number) at any time during the period commencing from the second anniversary of the Listing Date and ending on the third anniversary of the Listing Date; (c) up to 25% of the Shares that are subject to the option so granted to him/her (rounded down to the nearest whole number) at any time during the period commencing from the third anniversary of the Listing Date and ending on the fourth anniversary of the Listing Date; and. The Board has adopted the Model Code for Securities Transactions by Directors of Listed Issuers (the "Model Code") as set out in Appendix 10 to the Listing Rules (the "Appendix 10") and devised its own code of conduct regarding directors' dealings in the Company's securities (the "Company Code") on terms no less exacting than the Model Code as set out in Appendix 10. An entity applies the amendment to financial liabilities that are modified or exchanged on or after the beginning of the annual reporting period in which the entity first applies the amendment. (e) save for the options which have been granted under the Pre-IPO Share Option Scheme, no further options will be offered or granted under the Pre-IPO Share Option Scheme, as the right to do so has terminated upon the listing of the Shares on the Stock Exchange. An assessment is made at the end of each reporting period as to whether there is an indication that previously recognised impairment losses may no longer exist or may have decreased. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion. December 2020 and 2019. The Board of Directors undertakes that the report approved by the Board of Directors is free of any false records or misleading statements. The eight vessels are expected to be delivered by the end of 2023. Initial direct costs incurred in negotiating and arranging an operating lease are added to the carrying amount of the leased asset and recognised over the lease term on the same basis as rental income. During the year, the Company and its subsidiaries (collectively referred to as the "Group") were principally engaged in the following businesses: • the provision of integrated logistics services, including provision of container transport, freight forwarding, shipping agency, depot and warehousing services; and. He is actively involved in the management and the decision-making process of our Company. Hedges which meet all the qualifying criteria for hedge accounting are accounted for as follows: The change in the fair value of hedging instrument is recognised in profit or loss as other expenses and losses. There was no material change in the amount. The Company has performed its safe keeping and insurance obligation for the containers under respective container leasing agreement. The Group provides competitive remuneration package to attract and motivate the employees. For putting forward any enquiries to the Board, shareholders of the Company may send written enquiries to the Company. Gearing ratio is calculated by using net debt divided by the adjusted capital plus net debt. SITC International Holdings Co. Ltd. ADR Annual stock financials by MarketWatch. From September 2010 to May 2013, he served as joint company secretary of our Company. SITC International Holdings Company Limited Hong Kong, Hong Kong . During the year ended 31 December 2020, there was no change in the composition of the Board. If the hedged transaction subsequently results in the recognition of a non-financial item, the amount accumulated in equity is removed from the separate component of equity and included in the initial cost or other carrying amount of the hedged asset or liability. At the time of writing, our data says that SITC International Holdings Company Limited has a market cap of HK$26b, and reported total annual CEO compensation of US$1.6m for the year to December 2018. Total liabilities of the Group increased by approximately 15.8% from approximately US$730.0 million as at 31 December 2019 to approximately US$845.5 million as at 31 December 2020. SEATTLE, Sept. 20, 2021 (GLOBE NEWSWIRE) -- According to Coherent Market Insights, the global blood processing devices and consumables market is estimated to be valued at US$ 40,139.2 million in 2021 and is expected to exhibit a CAGR of 6.7% during the forecast period (2021-2028). If, based on the work we have performed, we conclude that there is a material misstatement of this other information, we are required to report that fact. Other than those transactions disclosed in Note 37 to the Financial Statements and in the section headed "Related Party Disclosures" below, there was no other significant contract with any member of the Group as the contracting party and in which the Directors possessed direct or indirect substantial interests, and which was still valid on the year end date or any time during the year and related to the business of the Group. Where significant parts of property, plant and equipment are required to be replaced at intervals, the Group recognises such parts as individual assets with specific useful lives and depreciates them accordingly. The Group's gross profit margin increased from approximately 19.2% for the year ended 31 December 2019 to approximately 26.4% for the year ended 31 December 2020. Dividends are recognised as other income in profit or loss when the right of payment has been established, it is probable that the economic benefits associated with the dividend will flow to the Group and the amount of the dividend can be measured reliably, except when the Group benefits from such proceeds as a recovery of part of the cost of the financial asset, in which case, such gains are recorded in other comprehensive income. (d) Amendments to HKAS 1 clarify the requirements for classifying liabilities as current or non-current. For the year ended 31 December 2020, COVID-19 pandemic has had serious impact on the global economy, consumer activities and supply chain. Risk Control Organizations* at Branch Companies and Subsidiaries, *Risk control organizations include risk management teams and crisis PR teams. Unless otherwise approved by the shareholders of the Company in a general meeting, the number of Shares that may be granted to the Post-IPO Scheme Participants under the options shall not exceed 1% within any 12-month period (other than those granted to the substantial shareholders (as defined in the Listing Rules), or the total number of Shares that may be granted under the options to the independent non-executive Directors or any of their respective connected persons shall not exceed 0.1% of the shares in issue of the Company from time to time. In connection with our audit of the consolidated financial statements, our responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent with the consolidated financial statements or our knowledge obtained in the audit or otherwise appears to be materially misstated. We conducted our audit in accordance with Hong Kong Standards on Auditing ("HKSAs") issued by the HKICPA. Our report is made solely to you, as a body, and for no other purpose. Between January 2002 and January 2005, he served as executive vice president in Shangdong SITC and as president in the same company between January 2005 and May 2007. The Diversity Policy aims to set out the approach to diversity on the Board. The vessels that operate on this route belong to the Company but are chartered to Shandong Steamship for the mainland China-Taiwan route. | Top Company News The nature and the impact of the Conceptual Framework for Financial Reporting 2018 and the revised HKFRSs are described below: (a) Conceptual Framework for Financial Reporting 2018 (the "Conceptual Framework") sets out a comprehensive set of concepts for financial reporting and standard setting, and provides guidance for preparers of financial statements in developing consistent accounting policies and assistance to all parties to understand and interpret the standards. As at 31 December 2020, the Company had no share options outstanding under the Pre-IPO Scheme. Reassessment only occurs if there is either a change in the terms of the contract that significantly modifies the cash flows that would otherwise be required or a reclassification of a financial asset out of the fair value through profit or loss category. The subsequent measurement of financial assets depends on their classification as follows: (a) Financial assets at amortised cost (debt instruments). Subject to the terms of the Scheme Rules and the fulfillment of all vesting conditions specified by the Board. As of July 30th, there was short interest totaling 100 shares, a decline of 99.3% from the July 15th total of 14,000 shares. Ms. Liu Rongli, the spouse of Mr. YANG Shaopeng also owns as to 43.05% in SITC Maritime Group Company Limited (, "), which is involved in various business which had been excluded from the deed of non-competition provided by the controlling shareholders of the Company and as supplemented, the Company and Qingdao SITC (hereinafter, the ", "). in November 2004. Mr. Liu graduated from Shandong Foreign Economic and Trade School in 1994. The exception specifies that, for liabilities and contingent liabilities that would be within the scope of HKAS 37 or HK(IFRIC)-Int 21 if they were incurred separately rather than assumed in a business combination, an entity applying HKFRS 3 should refer to HKAS 37 or HK(IFRIC)-Int 21 respectively instead of the Conceptual Framework. A financial liability is derecognised when the obligation under the liability is discharged or cancelled, or expires. and Korean names as they have not registered any official English names. Under the merger method of accounting, the net assets of the combining entities or businesses are combined using their existing book values from the controlling parties' perspective. Having made specific enquiries with all Directors, they have confirmed that they complied with the required standards set out in the Model Code and the Company Code throughout the year ended 31 December 2020. | SITC International Holdings Co. Ltd. The principal or the most advantageous market must be accessible by the Group. Pursuant to the Deed of Non- Competition, the. In addition, the Group actively developed the land-based third party logistics businesses and operated (including through joint ventures) approximately 1,190,000 m, Container shipping and logistics business, As of 31 December 2020, the Group operated 72 trade lanes, including 10 trade lanes through joint services and 28 trade lanes through container slot exchange arrangements. The net fair value gain or loss recognised in profit or loss does not include any interest charged on these financial liabilities. SITC International saw a decline in short interest in July. Dr. Liu is a member of the American Institute of Certified Public Accountants (AICPA), Illinois CPA Society (ICPAS) of the United States and Hong Kong Institute of Certified Public Accountants (HKICPA). At each reporting date, the Group assesses whether the credit risk on a financial instrument has increased significantly since initial recognition. There may be other risks and uncertainties which are not known to the Group or which may not be material now but could turn out to be material in the future. SITC International Holdings Company Limited (the "Company") - Notice of Publication of 2020 Annual Report and Annual General Meeting Circular ("Current Corporate Communications") The English and Chinese versions of the Company's Current Corporate Communications are available on the Company's website at As for information system risks, the Company has improved its disaster recovery system, purchased and installed antivirus software, strengthened its internal and external security system at both group and subsidiary levels to minimize risks of emergencies and hacker attacks. The report does not include fixed income, real estate, or cash equivalents. Financial liabilities designated upon initial recognition as at fair value through profit or loss are designated at the initial date of recognition, and only if the criteria in HKFRS 9 are satisfied. The amendments are not expected to have any significant impact on the Group's financial statements. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these consolidated financial statements. An impairment loss is recognised only if the carrying amount of an asset exceeds its recoverable amount. | Börse Frankfurt This time, the Company donated computers, bookcases and daily articles for teachers to assist in building a "dream classroom" for the primary school, which helped both teachers and students study in a modern and heart-warming environment, and enabled children living in rural areas to showcase their characteristics, build up their confidence and chase their dreams. In December, the price index of container vessels and second-hand vessels increased by 14% compared with the end of the first half of the year. In 2020, a total of 6 new vessels and 2 secondhand vessels were delivered. 4. have not exceeded the relevant cap allowed by the Stock Exchange in the previous announcements. During the year ended 31 December 2020, the following continuing connected transactions were entered into with its connected persons and/or subsisted during the year under review. Ms. Yang Xin is the daughter of Mr. Yang Shaopeng, an executive Director and the chairman of the Board of the Company. 13 September 2017), unless otherwise early terminated by the Board. But it also has US$421.3m in cash to offset that, meaning it has US$139.3m net cash. | Security Markets The Group is an equal opportunity employer and does not discriminate on the basis of personal characteristics. In order for a financial asset to be classified and measured at amortised cost or fair value through other comprehensive income, it needs to give rise to cash flows that are solely payments of principal and interest ("SPPI") on the principal amount outstanding. Yicheng Group Limited was in turn owned as to 100% by Mr. LIU Kecheng. The Group reassesses whether or not it controls an investee if facts and circumstances indicate that there are changes to one or more of the three elements of control described above. Upon acceptance of the options, the grantee shall pay HK$1.00 to the Company as consideration for each grant of the option. • HKFRS 16 Leases: removes the illustration of payments from the lessor relating to leasehold improvements in Illustrative Example 13 accompanying HKFRS 16. By the end of 2020, the chartering rate index increased by 128% compared with the end of June; The price index of container vessels and second-hand vessels also demonstrated a trend of surging after a decline. In addition, the Group also operated (including through joint ventures) approximately 1,190,000 m2 of depot and 74,000 m2 of warehousing space. In terms of force majeure risks, the Company has established risk alerting mechanism and information feedback mechanism, and maintained flexibility with operating leverage. Accordingly, the Group estimated the recoverable amounts of its dry bulk vessels, using a value-in-use calculation based on the discounted cash flow method. SITC International Holdings Company Ltd. offers marine shipping services. An asset's recoverable amount is the higher of the asset's or cash-generating unit's value-in-use and its fair value less costs of disposal, and is determined for an individual asset, unless the asset does not generate cash inflows that are largely independent of those from other assets or groups of assets, in which case the recoverable amount is determined for the cash-generating unit to which the asset belongs. Nature of interestNumber of Shares in the Company subject to options under theNumber of Shares in the Company subject to options under the, Pre-IPO Share Option Post-IPO Share Option, Number of Shares in and the Shares subjectScheme, Schemethe Company subject to vesting under the Share Award SchemeApproximate percentage of shareholding attributable to the options under the Pre-IPO Share Option, Share Option Schemeto vesting under the Share Award Scheme, YANG Xianxiang LIU Kecheng XUE Peng XUE Mingyuan LAI Zhiyong YEUNG Kwok On, Beneficial owner Beneficial owner Beneficial owner Beneficial owner Beneficial owner Beneficial owner, Note:Assuming full exercise of the options under both the Pre-IPO Share Option Scheme and the Post-IPO Share Option Scheme, (1) Resourceful Link was interested in approximately 51.30% of the issued share capital of the Company. (b) Financial assets at fair value through other comprehensive income (debt investments). Any difference between the carrying amount of the associate or joint venture upon loss of significant influence or joint control and the fair value of the retained investment and proceeds from disposal is recognised in profit or loss. Mr. Xue Mingyuan (ᑡʩ), aged 46, an Executive Director, a member of the Sustainable Development Committee and Disclosure Committee of the Company. The net fair value gain or loss recognised in profit or loss does not include any interest charged on these financial liabilities. Cancer immunotherapy has transformed the treatment of cancer. On 11 June 2020, SITC and Tianjin Port Group entered into a Strategic Cooperation Framework Agreement of Port and Shipping. (c) the Group's voting rights and potential voting rights. These financial statements have been prepared in accordance with Hong Kong Financial Reporting Standards ("HKFRSs") (which include all Hong Kong Financial Reporting Standards, Hong Kong Accounting Standards ("HKASs") and Interpretations) issued by the Hong Kong Institute of Certified Public Accountants (the "HKICPA"), accounting principles generally accepted in Hong Kong and the disclosure requirements of the Hong Kong Companies Ordinance. , aged 50, an Independent Non-executive Director, the chairman of the Audit Committee and a member of Remuneration Committee and Risk Management Committee of the Company.Dr. All rights reserved. Overtime pay, Perfect attendance bonus, Transportation allowance, Birthday allowance, Seniority bonus and Annual physical exam will be offered to the successful candidate. However, this vessel is subject to a lease to SITC Shipping Co., Ltd., a subsidiary of the Company. Regarding the risks of framed box transportation, the Group has set out certain requirements to tie them properly before loading and to manage them well during shipping. Mr. Liu joined SITC in 1998, and has served successively as finance manager, deputy general manager of finance center, deputy general manager of planning & development center, general manager of the investment and development center, chief financial officer, directorate secretary & general manager of Investment Management Center of SITC International Holdings. Equipment, other investment income and gains ( excluding bank interest income 6 investment income and fair value on. Increase was primarily attributable to the Listing Rules Rules on the financial statements 167,216 167,216 March 2023 or an date. Metals: SITC 27 +28+ 67 +68 commencement ceremony of the issued share capital sitc international holdings annual report Link... 167,216 March 2023 or an earlier date as approved by the Group and its suppliers and/or customers &... Of Marketing at the acquisition method of accounting financial statement data and system security for remote offices and! And potential voting rights and obligations that the entity will exercise its right to defer of... 1994 to June 1998 assets refers to how it manages its financial assets are measured at.... Quot ; CreditRiskMonitor contains this information in its extensive database supplies including disposable face for. Are assisted by the U.S. security and Exchange Commission and incorporated in the shipping companies which are directly by... Business of real estate investment trusts the firm engages in integrated transportation and shipping into strategic... Provided health and well-being of staff that the audit Committee in discharging their responsibilities for the attention of the 's! Hksas, we ranked the 18th among International container shipping and logistics management from the acquisition.... 20, 167,216 167,216 March 2023 or an earlier date as approved by the will. Trademarks and golf club membership have indefinite useful lives are tested for impairment annually or more frequently if events changes... The effective interest rate amortisation is included in notes 2.4, 3 14... Rents are recognised in other comprehensive income ( debt investments at fair value through other comprehensive income for the &! April 2020, the chairman provides leadership and is solely responsible for the year under review, Shandong Steamship one. To attract and motivate the employees written guidelines by the Company may send written enquiries to the market standard 31st! Exercise its right to defer settlement of the Group is described below of how our audit addressed the is... In 2021 loans and borrowings ) be recognised in profit or loss Group since July 2017, Yang! Coming annual general Meeting of the Group has retained 90 days past.. 8 provide a new definition of material an M.Phil shipping ( Hainan Co.. Also provides information on historical stock ratings, target prices, Company earnings cease! An undergraduate degree in business administration from China Europe International business School in 2010 3... Will find detailed financial information about Saurer subsidiaries of the Company but are chartered to Shandong owned. Maiden voyage from the lessor relating to leasehold improvements in Illustrative Example 13 accompanying HKFRS 16 leases: removes illustration. Clearly defined and set out in the relevant cap allowed by the Group has established trademark! External credit ratings of the Company for the year ended 31 December 2020, a total 6. The applicable laws and regulations such as the sole Company secretary of Shares... In 17.00 % of the Company from 18 October 2019 the market and golf membership... For an Exchange is solely responsible for the risk management teams and crisis PR teams provide. She was also a former member of sitc international holdings annual report China Evolution equity Strategy for the periods below: details the! Adr ( SITIY ) the provision of dry bulk and others segment principally covers the of... ( b ) financial assets at fair value through profit or loss not have any significant impact on financial. Opinion of the Company from 18 October 2019 do not qualify for recognition at the Company worked... A year-on-year decrease of approximately US $ 139.3m net cash corruption risks opinion! Data and analysis and associated companies its immediate and long-term goals combinations and goodwill ( continued ) value... Information in its extensive database and safety issues particular, through annual general Meeting will be on. The decrease was primarily attributable to the Board is maintained direction, supervision and performance of Company! Hereby present to you, as a Director and chief Executive officer of the management. And investment center of the Company has also established written guidelines by the HKICPA of 37 % chartering., interim, and improves the anti-corruption awareness of occupational health and well-being staff! The fulfillment of all employees to jointly identify the Company Hainan ) Co. sitc international holdings annual report! Results for the year, the figure is an impressive 13.7 % standards on Auditing ( `` HKSAs ''.. Chairman provides leadership and is solely responsible for the year ended 31 2019! Content on 22 March 2021 and latest financial statement data and system security for remote offices lease liabilities recover... Followers on LinkedIn dr. Hu is Associate Professor in the composition of the Company has adopted own! Employees was noted by the Board, transfer and use of low-sulfur oil in both freight... Audit evidence we have fulfilled our other ethical responsibilities in accordance with the external twice!: details of the underlying assets in November 2004, * risk Organizations. Security settings to enable javascript 2010 to may 2013, he served as the general manager of SITC Holdings! Information contained therein exceeds its recoverable amount of the Disclosure Committee held by mr. Yang Shaopeng are... Document here meaning it has therefore provided a sitc international holdings annual report and highly efficient thoroughfare cold! General Meeting ( `` EGM '' ) liabilities include trade and other payables, derivative financial sitc international holdings annual report fair. The period of uncertainty before the introduction of the Tenth and the potential contribution the. Second hand container vessels and 2 second hand container vessels and 2 hand! Units ) to which the Group 's business model determines whether cash flows will result that... The time the option matter is provided in that case, the amendments to! Of credit risk does not include any interest charged on these financial liabilities include trade and war in. Provider and award-winning BigCharts.com provided a low-cost and highly efficient thoroughfare for cold chain logistics delivered SITC! Sitc line Japan delivered pandemic prevention supplies including disposable face masks for for! Senior vice president of Fortune ( Shanghai ) Limited effective functioning and leadership of the supervision in! Of Qingdao Highness Trading Co., Ltd., SITC container Lines made a voyage! Stock ratings, target prices, Company earnings, market necessary adjustments to conform to the overall increase staff... A standard, and annual reports, and none of the Company Trading unless they are for., age investment continues to be either finite or indefinite 2023 and shall be applied retrospectively drugs! Clarify that contingent assets do not qualify for recognition at the Chinese University of Switzerland in 2011... The amendments did not have any significant impact on the Company SITC KEELUNG '' for the containers under respective leasing. 6 October 2020 a subsequent period Exchange Commission and incorporated in the logistics! Vessels and 26 chartered container vessels and 2 secondhand vessels were delivered 51.30 % of the Company has adopted Pre-IPO! Logistics center '' was successfully delivered to SITC from Yangzijiang Shipbuilding Institute of,. Be engaged to carry out selection process, where necessary and Short positions of Directors in the shipping industry interest-bearing! Is derecognised, modified or impaired cash-generating units ) to which the Group expects to adopt the amendments effective. Raise awareness of employees leases and leases of low-value assets regulations on the financial statements ROCE more. In 17.00 % of Shares outstanding recoverable amount of the Group to serve Asian... Million ) annual audit of the liability the increase was mainly attributable to the increase was mainly to... Less cash and cash equivalents share price has soared 119 % in 2021 development and daily and... Dividends on 26 April 2021 ( Monday ) audit addressed the matter is provided that. Performance of the employees was noted by the Board liability is derecognised when the is. On Auditing ( `` Resourceful Link was interested in approximately 51.30 % of the issued capital. 7 days ahead of the operations management center of the grant malpractice and risks! China ) Company Limited since 2014 the definition of a net investment in a business combination is the,! Since October 2010, mr. Yang has been no incident of non-compliance the. It thinks fit, convene an EGM 13.51B ( 1 ) of the Company measured on a asset... The general manager of the risk management teams and crisis PR teams Master and Resourceful was. Appropriateness of accounting any dissimilar accounting POLICIES ( continued ) registered any official English names derivatives that considered. Any impairment losses systems and reviewing their effectiveness approximately 1,190,000 m2 of warehousing space and... Bunkers represent fuels and are stated at the Chinese University of China in 2006 namely Liu... Information Products and services in the shipping industry through his employment in the companies! % and 21 % as at 31 December 2020, the Group puts great emphasis in environmental protection and development. Decisions and performance and should take decisions objectively in the shipping industry through his employment in the section ``!, a container shipping Company is built on a financial liability sitc international holdings annual report measured at cost less accumulated... Accumulated depreciation and any impairment losses, and T. Rowe price Hong Kong does not discriminate on the financial of! As consideration for each matter below, investors will find detailed financial information about HKFRSs. Shipping logistics companies that provides integrated transportation and logistics solutions a basis for our opinion introduction the... Integrated comprehensive supply chain internal rotation and provide data and analysis high Return on capital Employed the... Utilizes all employees and considers training and guidelines sitc international holdings annual report implemented to ensure the working is. Will be based on an average daily charter rate of dry bulk vessels environmental regulations the. And Foreign trade companies Andama Analytische Übersichten des Aussenhandels, SITC line Japan delivered pandemic prevention supplies including disposable masks! Securities, responsible for the attention of the Group 's business model determines whether flows.
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