b. As at dec 2018, The inventories decreased from RMB 2.6 bil to RMB 1.6 bil (39% reduction) partly due to write down of RMB 211 mil on WIP. As at Dec 2019, the inventories further decreased to RMB 1.6 bil from 2.6 bil (40% reduction), however there is no breakdown on the inventories figure.
c. About 30% of the revenue is from trading of metals and chemicals. Since oil price has slumped this might have an impact on the gross profit amount on this segment. However, gross profit contribution from trading segment is relatively small at 2% compared to Shipping building at 55%, so the impact might be minimal.
d. In 2019, 59 vessels were delivered according to schedule as compared to 46 vessels delivered in 2018. In spite of more
vessels delivered this year, the Group recorded a lower shipbuilding revenue of RMB13,019 million in FY2019
mainly due to construction of less large size containerships during the period.
e. Outstanding Order book: USD2.9 bil for 75 vessels + USD 1.1 bil announced in March 2020 for 10 dual fuel containerships (ordered by Tiger Group based in HK)