Hutchison Port Holdings Trust (HUPHY) Q4 2025 Earnings Call

Investor webinar replay

Replay transcript excerpt

Ladies and gentlemen, welcome to the conference call of Hedgeson Port Holdings Trust, Earning Results Announcement for the year end 31st December 2025. Now, I will hand over to Mr. Albert Chow, the CEO of Hedgeson Port Holdings Trust. Mr. Chow, please begin. Thank you. Hello, everyone. Thank you for joining our 2025 results announcement call. As usual today, I'll give you kind of a lowdown as to, you know, how the second half of last year went, as well as giving you some thoughts as to how I see 2026. And then I'm going to talk, obviously, a little bit about the DPU distribution and how I see it going forward. And then I'll hand over to Ivy of CFO to quickly cover the figures. And then we'll finally end it with Q&A, depending on where what you guys want to ask me about. Overall, if you kind of look at our results, you would say I'm actually overall pretty happy with the 2025 results. It was obviously a fairly difficult year. The shipping market was particularly volatile given what's happening around the world, the geopolitical tensions, the tariff war, and all the things that's happening around the world has had an impact to the stability of the shipping industry and the movement of goods overall. So despite, you know, kind of all of that, we achieved a throughput growth above 3%, whereas most of our growth or almost all of our growth is driven by the growth in Yantian, almost 7% year-on-year growth, while Hong Kong, you know, kind of continues its decline that we have seen, you know, over the last couple of years. And I'll talk individually about them as well. But overall, if you kind of look at the individual trade, if you will, obviously, U.S. is affected significantly by the tariff imposed on China as well as other parts of the world. So if you look at the U.S. t...