Since 202 1, the container cargo has far exceeded the carrying capacity of the terminal, and the backlog of a large number of goods has reduced the operational efficiency of the terminal; At the same time, there is a shortage of labor such as truck drivers, and the efficiency of inland supply chain is also low, so the contradiction of supply chain is difficult to alleviate in the short term. The main reason is that the congestion of route network greatly reduces the efficiency of supply chain. If the congestion factor is removed, the company's performance will be more eye-catching.
It is expected that the volume and price will rise in 2022-2023, which will protect the company's performance. According to the company's disclosure, in 2022, customers have a strong willingness to sign contracts, and the negotiation work is obviously ahead of previous years. Judging from the progress of the current negotiation work, it is expected to achieve simultaneous improvement in the three dimensions of freight volume, freight rate and the number of contracts with longer term.
The undistributed profit of the parent company has turned from negative to positive, and it is expected that the dividend will be qualified at the end of the year. By the end of the third quarter, the undistributed profit in the balance sheet of the parent company has recovered from-22.5 billion yuan at the end of the 20th century to 6,5438+0,654.38+0 billion yuan, and dividends are expected at the end of this year. We believe that although the industry entered the traditional off-season in the fourth quarter, short-term exports will still have strong resilience, and the company will still achieve relatively rich profits with high probability, and dividends are worth looking forward to.