2018, which is full of hard work and sweat, is about to pass. With the dawn of 2019, we are coming to us. At this moment of resigning the old and the new, the leaders of the group will pay to every employee and family member who has contributed to the development of the group in the past year. With cordial condolences and good wishes, I would like to express my heartfelt thanks to the customers, the people from all walks of life who support and help Dandong Port.
2018 is a very extraordinary year. The rules of free trade on a global scale have been severely challenged. The voice of anti-globalization has come and gone. Due to the Sino-US trade war, China’s macroeconomic uncertainty has increased, and the economy has “steadily changed. There are worries in stability and stability. At the same time, transforming the mode of economic growth, realizing the kinetic energy transformation of economic growth, winning the battle against environmental protection, and resolving financial risks have all put forward new requirements for the development of the port industry. It is necessary for our port people to seriously deal with it and solve it. It is the port development. New topics, large bulk cargo such as ore, coal import and export volume is rapidly declining, national port industry statistics show that the era of high-speed throughput growth has ended, becoming history. In the future, port throughput will be a gradual shrinking trend. In addition, the Dandong Port Group's firm implementation of the cessation of the berthing of Korean vessels is a rigid factor affecting the growth of Dandong Port's business. Due to the corporate debt crisis that has emerged in recent years, the credit policy of the financial sector has undergone major changes, and there has been a practice of suspending loans, lending, and lending. This has led to problems in the financing of private enterprises and small and medium-sized enterprises. The same problems have also affected Dandong Port.
In the face of difficulties, we must scientifically analyze the reasons in a dialectical way, correctly and objectively understand the contradictions, and do a good job in the chest, so as to establish a confidence to win. At present, destocking and de-leverage have reached a stage that needs to be summarized. The credit problems encountered by private enterprises have attracted the attention of the central authorities. They have earnestly studied and implemented the spirit of General Secretary Xi Jinping’s speech at the Central Private Enterprise Symposium, and are becoming a financial sector. The specific actions of credit institutions, we must take advantage of the momentum, seize the opportunity, make good use of the central support policy, resolve risks, maintain stable production, and unswervingly play the role of the strategy of "making the city with Hong Kong".
It should be noted that although we have encountered severe difficulties, we also have the favorable conditions to overcome difficulties and overcome difficulties. The Dandong Port Group is a company that has grown up with the reform and opening up and has a mechanism for living and efficient. Dandong Port has a unique location advantage, irreplaceable, a stable customer base, a fixed market, and a hard-working team. There are a large number of port infrastructures that have been invested in such a large amount of capital for many years. There are a number of large-scale specialized production terminals such as large ore, grain, coal, container, and passenger and cargo roll-on. These are reliable resources for us to overcome the difficulties ahead.
At present, although the temporary financial difficulties have been encountered, the positioning of the port has not changed, the role of the port has not changed, and the function of the port has not changed. In the new year, we must seize the opportunity in the spirit of tenacious struggle, promote new project cooperation, expand the logistics network, consolidate the supply base and increase revenue. Resolve risks, take measures to optimize production capacity, optimize asset portfolio, reduce asset-liability ratio, strengthen management, strengthen the implementation of various measures such as “green ports, safe ports, smart ports, and efficient ports”, and promote the transformation and upgrading of the overall operation mode to ensure Stable operation of production ensures that the port will realize the transformation from loading and unloading port to logistics port and play a pivotal role in regional economic development.