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Sinotrans' management marked the 10th anniversary of its Hong Kong IPO at a ceremony in Beijing on Nov 19. Provided to China Daily
Over the past decade Sinotrans Ltd has grown into a leader in China's logistics industry with revenues reaching nearly 45 billion yuan ($7.2 billion) last year, up from less than 14 billion yuan in 2002, the year it was founded.
An integrated logistics services provider covering sea, air and road transportation, as well as storage, terminals, and express delivery, the company has made significant progress in modernization and internationalization, said its management.
The transformation can be traced back to 2003 when Sinotrans went public in Hong Kong, becoming the pioneer among domestic logistic firms in an overseas capital market.
It has since modernized its corporate governance and asset structure, diversified its business portfolio and sharpened its competitive edge.
Before a conventional freight forwarder that relied heavily on exports, Sinotrans now has added-value operations in both exports and imports.
Domestic business contributed 12 percent of the company's revenue last year, while import-related income accounted for 15 percent.
The efforts at diversification paid off. The company weathered the 2008 global financial crisis and began to rebound in 2010, a goal it had planned to realize over three years.
Its annual average growth in revenue of more than 17 percent reflects the company's sustainable business model.
Today it has eight terminals with a combined capacity to handle more than 41 million tons of goods. They include 89 container yards totaling 2.15 million square meters, 374 warehouses covering a total area of 1.9 million sq m in addition to thousands of vehicles and 140 vessels.
The State-owned enterprise has supported international events including the Beijing Olympics and the Shanghai World Expo as well as trans-porting relief supplies to dis-aster-hit areas.
By expanding its network abroad and providing professional logistics services, the company also helps other domestic companies with their ambitions to go global.
With the philosophy of "services creating values", Sinotrans uses modern management standards and aims to build up an internationally influential Chinese logistics brand, said its executives.
(China Daily 11/26/2012 page10)