Report for the First Quarter of 2012 － Chiwan Wharf
Stock code: 000022 /200022 Short form: Chiwan Wharf A/Chiwan Wharf B Announcement Serial No. 2012-015
SHENZHEN CHIWAN WHARF HOLDINGS LIMITED
REPORT FOR THE FIRST QUARTER OF 2012
§1 Important Notes
1.1 The Board of Directors, the Supervisory Committee as well as the directors, supervisors and senior
management staff of Shenzhen Chiwan Wharf Holdings Limited (hereinafter referred to as “the
Company”) hereby confirm that there exists no omission, misstatement, or misleading information in
this report, and accept, individually and collectively, the responsibility for the correctness, accuracy
and completeness of the contents of this report.
1.2 All Directors, Supervisors and Senior Management Staff agreed with and guaranteed the correctness,
accuracy and completeness of the contents of this Report.
1.3 All directors attended the board session for reviewing this report.
1.4 This quarterly Financial Statements was un-audited.
1.5 Chairman of the Board Mr. Zheng Shaoping, as well as Chief Financial Officer Mr. Zhang Jianguo and
Financial Manager Ms. Ma Zhihong hereby confirm that the Financial Statements in this report is true
and complete.
1.6 This report is written in both English and Chinese. In case of any discrepancy between the two versions,
the Chinese version prevails.
§2 Company Profile
2.1 Main accounting data and financial highlights
Unit: RMB
As at 31 Mar. 2012 As at 31 Dec. 2011 +/- (%)
Total assets 6,643,366,506 6,540,228,435 1.58%
Total equity attributable to equity holders
3,581,296,952 3,467,796,751 3.27%
of the Company
Shares capital 644,763,730 644,763,730 0.00%
Net assets per share attributable to equity
5.554 5.378 3.27%
holders of the Company
Jan. –Mar. 2012 Jan. –Mar. 2011 +/- (%)
Revenue 400,075,076 419,926,079 -4.73%
Net profit attributable to equity holders of
113,372,701 127,288,677 -10.93%
the Company
Net cash flows from operating activities 132,040,260 181,271,709 -27.16%
Net cash flows per share from operating
0.205 0.281 -27.05%
activities
Basic earnings per share 0.176 0.197 -10.66%
Diluted earnings per share 0.176 0.197 -10.66%
Weighted average return on equity (%) 3.22% 3.78% -0.56%
Weighted average return on equity after
3.15% 3.78% -0.63%
extraordinary gains and losses (%)
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Report for the First Quarter of 2012 － Chiwan Wharf
Items of extraordinary gains and losses
√Applicable □Non-applicable
Unit: RMB
Items of extraordinary gains and losses Jan. –Mar. 2012 Notes (if applicable)
Net gain on disposal of non-current assets 1,198,844
Government grants 369,513
Other non-operating income/(expense), net 1,701,615
Tax effects -212,629
Minority interests effect -711,783
Total 2,345,560
2.2 Total number of shareholders and shares held by top ten shareholders holding shares not subject to
trading moratorium as at the end of the reporting period
Unit: share
Total number of shareholders at 38,599 shareholders ,among which 29,732 being shareholders of A shares and
the end of the reporting period 8,867 being shareholders of B shares
Top ten shareholders holding shares not subject to trading moratorium
Number of tradable
Type of shares (A, B,
Name of shareholder shares held at the end of
H or other)
the reporting period
CHINA NANSHAN DEVELOPMENT (GROUP) INC. 370,878,000 A shares
KEEN FIELD ENTERPRISES LIMITED 53,366,416 B shares
CMBLSA RE FTIF TEMPLETON ASIAN GRW FD GTI 5496 47,914,954 B shares
GOVERNMENT OF SINGAPORE INV. CORP.- A/C "C" 6,071,192 B shares
EMPLOYEES PROVIDENT FUND 3,545,534 B shares
OMERS ADMINISTRATION CORPORATION(SC03) 3,238,309 B shares
TEMPLETON CANADA EMERGING MKTS FUND 2,671,924 B shares
FTIF-TEMPLETON EMERGING MKT SMALLER
2,522,279 B shares
COMPANIES FUND
TEMPLETON ASIAN GROWTH FUND 2,504,152 B shares
CHINA MERCHANTS SECURITIES (HK) CO., LTD. 2,410,643 B shares
§3 Significant Events
3.1 Significant changes in major accounting data, financial highlights and reasons for these changes
√Applicable □Non-applicable
Jan.-Mar. 2012 Jan.-Mar. 2011 +/- +/-(%)
Cash paid to purchase fixed assets,
(134,916,890) (20,458,240) (114,458,650) 559.47%
intangible assets and other long-term assets
Payments of taxes and levies (84,153,732) (54,784,366) (29,369,366) 53.61%
Cash paid to acquire fixed assets, intangible assets and other long-term assets increased because of the
expense on the Berth 13# extension project and the Machong Port project.
Payments of taxes and levies increased due to increase of taxes paid in the reporting period.
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Report for the First Quarter of 2012 － Chiwan Wharf
3.2 Progress of significant events
3.2.1 Non-standard audit opinion
□Applicable √Non-applicable
3.2.2 The Company provides funds to the controlling shareholder or its related parties or provides guarantees
to external parties in violation of prescribed procedures
□Applicable √Non-applicable
3.2.3 Signing and execution of significant contracts concerning routine operation
□Applicable √Non-applicable
3.2.4 Other information
√Applicable □Non-applicable
Internal Control Progress:
During the reporting period, the Company organized and carried out the self-evaluation of internal control
according to the work plan.Via interview and sampling tests, and according to the previously-set evaluation
standards, the Company evaluated the defects found, prepared a defect evaluation summary sheet, and then
offered rectification advices. It then, according to the results of its aforesaid work, prepared the 2011 annual
internal control self-evaluation report, which was later reviewed and approved at the 3rd Session of the 7th
Board of Directors and the 3rd Session of the 7th Supervisory Committee and then disclosed.
In the reporting period, the Company engaged PricewaterhouseCoopers China to audit the effectiveness of its
2011 financial reporting internal control. A standard auditor’s report with unqualified opinion was issued by
PwC China and later disclosed.
The Company has completed the internal control work as scheduled in the 2011 annual internal control work
plan, with no difference or delay.
3.3 Special commitments made by the Company, its shareholders and actual controller
Commitments in the reporting period or lasted to the reporting period made by the Company, its directors,
supervisors, senior executives, shareholders holding over 5% shares, actual controller and other related
parties
□Applicable √Non-applicable
3.4 Reason of expected significant changes in net profit for the first half of this year compared with the same
period of last year
□Applicable √Non-applicable
3.5 Other significant events
3.5.1 Securities investment
□Applicable √Non-applicable
3.5.2 Particulars about meetings with investors in the reporting period
Type of
Time Location Means Investors Topics discussed and information provided
visitor
Topics discussed: Basic information of
Conference Merrill operations and investments of the Company
Field
30 Jan. 2012 Room of the Institution Lynch(Asia and the financial status of the Company
research
Company Pacific) Ltd Information provided: Brochure of the
Company
3.6 Derivatives investment
□Applicable √Non-applicable
3.6.1 Derivatives held as at the end of the reporting period
□Applicable √Non-applicable
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Report for the First Quarter of 2012 － Chiwan Wharf
§4 Appendix（See attachments）
（ ）
4.1 Balance Sheet
4.2 Income Statement
4.3 Cash Flow Statement
4.4 Auditor’s Report
Auditor’s opinion: Un-audited
For and on behalf of the Board
Zheng Shaoping
Chairman
Shenzhen Chiwan Wharf Holdings Limited
Dated 26 April 2012
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Report for the First Quarter of 2012 － Chiwan Wharf
SHENZHEN CHIWAN WHARF HOLDINGS LIMITED
CONSOLIDATED AND COMPANY BALANCE SHEETS
AS AT 31 MARCH 2012
(All amounts in RMB Yuan unless otherwise stated)
[English translation for reference only]
31-Mar-12 31-Dec-11 31-Mar-12 31-Dec-11
ASSETS
Consolidated Consolidated Company Company
Current assets
Cash at bank and on hand 562,412,735 478,788,943 300,233,574 187,090,694
Notes receivable 1,700,000 - - -
Accounts receivable 239,650,018 230,797,003 21,651,507 16,623,725
Advances to suppliers 32,750,296 3,497,668 1,413,228 1,210,724
Interests receivable 418,580 51,667 257,817 206,151
Dividends receivable - - 529,289,881 529,289,881
Other receivables 14,302,376 11,833,877 229,450,682 243,256,537
Inventories 23,754,596 23,500,358 1,048,140 922,921
Other current assets 1,003,913 1,003,913 - -
Total current assets 875,992,514 749,473,429 1,083,344,829 978,600,633
Non-current assets
Available-for-sale financial 5,860,000 5,690,000 5,860,000 5,690,000
assets
Long-term receivables - - 11,004,304 11,004,304
Long-term equity investments 1,452,860,003 1,436,856,420 2,004,776,868 2,002,116,574
Investment properties 34,375,291 34,679,229 26,307,298 26,547,149
Fixed assets 2,477,615,851 2,482,077,688 153,959,309 156,481,155
Construction in progress 497,932,088 517,818,144 614,894 614,894
Disposal of fixed assets 98,027 - - -
Intangible assets 1,029,229,565 1,038,926,892 64,761,441 65,552,356
Goodwill 10,858,898 10,858,898 - -
Long-term prepaid expenses 61,671,903 62,488,532 5,775,140 5,770,046
Deferred tax assets 54,764,082 59,250,919 28,374,461 29,709,461
Other non-current assets 142,108,284 142,108,284 - -
Total non-current assets 5,767,373,992 5,790,755,006 2,301,433,715 2,303,485,939
TOTAL ASSETS 6,643,366,506 6,540,228,435 3,384,778,544 3,282,086,572
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Report for the First Quarter of 2012 － Chiwan Wharf
SHENZHEN CHIWAN WHARF HOLDINGS LIMITED
CONSOLIDATED AND COMPANY BALANCE SHEETS
AS AT 31 MARCH 2012 (CONTINUED)
(All amounts in RMB Yuan unless otherwise stated)
[English translation for reference only]
LIABILITIES AND 31-Mar-12 31-Dec-11 31-Mar-12 31-Dec-11
OWNERS’ EQUITY Consolidated Consolidated Company Company
Current liabilities
Short-term borrowings 1,418,830,000 1,418,830,000 584,530,000 584,530,000
Notes payable 5,242,043 8,704,900 5,242,043 7,493,900
Accounts payable 73,823,360 160,112,954 9,936,643 12,225,607
Advances from customers 10,010,405 5,045,311 8,826,384 3,907,291
Employee benefits payable 31,430,679 55,945,867 23,626,545 31,818,160
Taxes payable 85,117,764 121,781,050 (2,012,565) 1,392,629
Interests payable 3,313,356 1,637,790 2,700,667 2,361,250
Dividends payable 365,161,451 365,161,451 - -
Other payables 49,740,169 50,809,293 867,490,602 749,075,206
Current portion of non-current 24,951,750 14,951,750 - -
liabilities
Total current liabilities 2,067,620,977 2,202,980,366 1,500,340,319 1,392,804,043
Non-current liabilities
Long-term borrowings 180,000,000 90,000,000 - -
Special payable 81,022,994 81,790,541 - -
Deferred tax liabilities 1,185,000 1,142,500 1,185,000 1,142,500
Other non-current liabilities 57,075,168 58,250,957 - -
Total non-current liabilities 319,283,162 231,183,998 1,185,000 1,142,500
Total liabilities 2,386,904,139 2,434,164,364 1,501,525,319 1,393,946,543
Owners' equity
Share capital 644,763,730 644,763,730 644,763,730 644,763,730
Capital surplus 166,353,555 166,226,055 153,565,828 153,438,328
Surplus reserve 421,692,405 421,692,405 421,692,405 421,692,405
Undistributed profits 2,362,094,702 2,248,722,001 663,231,262 668,245,566
Foreign exchange translation
(13,607,440) (13,607,440) - -
difference
Total equity attributable to
3,581,296,952 3,467,796,751 1,883,253,225 1,888,140,029
equity holders of the Company
Minority interest 675,165,415 638,267,320 - -
Total owners' equity 4,256,462,367 4,106,064,071 1,883,253,225 1,888,140,029
TOTAL LIABILITIES AND
6,643,366,506 6,540,228,435 3,384,778,544 3,282,086,572
OWNERS’ EQUITY
6
Report for the First Quarter of 2012 － Chiwan Wharf
SHENZHEN CHIWAN WHARF HOLDINGS LIMITED
CONSOLIDATED AND COMPANY INCOME STATEMENTS
FOR the Three Months Ended March 31 2012
(All amounts in RMB Yuan unless otherwise stated)
[English translation for reference only]
Jan.-Mar. 2012 Jan.-Mar. 2011 Jan.-Mar.2012 Jan.-Mar. 2011
Items
Consolidated Consolidated Company Company
Revenue 400,075,076 419,926,079 41,994,147 43,564,862
Less: cost of sales (173,848,347) (170,438,229) (31,603,295) (28,311,652)
Tax and levies on operations (16,195,936) (17,048,042) (1,771,732) (1,888,416)
General and administrative
(27,795,802) (31,119,872) (7,934,048) (9,969,129)
expenses
Finance income/(expenses) – net (16,466,125) (12,991,587) (13,512,029) (11,172,345)
Asset impairment reversals/(losses) - - - -
Add: Investment income 16,003,583 21,963,309 6,128,060 8,526,793
Including: Share of results of
16,003,583 21,963,309 2,660,294 2,490,576
associates
Operating profit 181,772,449 210,291,658 (6,698,897) 750,113
Add: Non-operating income 3,407,766 228,164 13,158 172,227
Less: Non-operating expenses (137,794) (42,105) - (493)
Including: Loss on disposals of
(62,273) (34,068) - (493)
non-current assets
Total profit 185,042,421 210,477,717 (6,685,739) 921,847
Less: Income tax (expenses)/income (34,771,625) (37,148,700) 1,671,435 376,495
Net profit 150,270,796 173,329,017 (5,014,304) 1,298,342
Attributable to equity holders of the
113,372,701 127,288,677
Company
Minority interest 36,898,095 46,040,340
Earnings per share(attributable to
equity holders of the Company)
Basic earnings per share 0.176 0.197
Diluted earnings per share 0.176 0.197
Other Comprehensive income 127,500 68,400 127,500 68,400
Total Comprehensive income 150,398,296 173,397,417 (4,886,804) 1,366,742
Attributable to equity holders of the
113,500,201 127,357,077
Company
Minority interest 36,898,095 46,040,340
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Report for the First Quarter of 2012 － Chiwan Wharf
SHENZHEN CHIWAN WHARF HOLDINGS LIMITED
CONSOLIDATED AND COMPANY CASH FLOW STATEMENTS
FOR the Three Months Ended March 31 2012
(All amounts in RMB Yuan unless otherwise stated)
[English translation for reference only]
Jan.-Mar. 2012 Jan.-Mar. 2011 Jan.-Mar.2012 Jan.-Mar. 2011
Items
Consolidated Consolidated Company Company
1. Cash flows from operating activities
Cash received from rendering of
394,813,329 400,811,721 40,807,707 32,256,203
services
Refund of taxes and levies - - - -
Cash received relating to other
3,473,107 5,021,751 116,630,847 275,817,357
operating activities
Sub-total of cash inflows 398,286,436 405,833,472 157,438,554 308,073,560
Cash paid for goods and services (108,515,640) (99,680,971) (26,955,814) (22,453,558)
Cash paid to and on behalf of
(61,127,222) (67,001,610) (14,925,842) (16,322,124)
employees
Payments of taxes and levies (84,153,732) (54,784,366) (2,232,210) (1,864,292)
Cash paid relating to other operating
(12,449,582) (3,094,816) (89,018,818) (49,272,689)
activities
Sub-total of cash outflows (266,246,176) (224,561,763) (133,132,684) (89,912,663)
Net cash flows from operating activities 132,040,260 181,271,709 24,305,870 218,160,897
2. Cash flows from investing activities
Cash received from disposals of
- - 103,395,000 72,800,000
investments
Cash received from returns on
- - 3,467,766 4,192,586
investments
Net cash received from disposals of fixed
4,688,320 169,500 - 169,500
assets and intangible assets
Sub-total of cash inflows 4,688,320 169,500 106,862,766 77,162,086
Cash paid to purchase fixed assets,
(134,916,890) (20,458,240) (4,239,779) (3,078,157)
intangible assets and other long-term assets
Cash paid relating to others investing
- - - (198,000,000)
activities
Sub-total of cash outflows (134,916,890) (20,458,240) (4,239,779) (201,078,157)
Net cash flows from investing activities (130,228,570) (20,288,740) 102,622,987 (123,916,071)
3. Cash flows from financing activities
Cash received from borrowings 150,000,000 - 50,000,000 -
Sub-total of cash inflows 150,000,000 - 50,000,000 -
Cash repayments of borrowings (50,000,000) - (50,000,000) -
Cash payments for interest expenses
(18,137,898) (10,059,581) (13,735,977) (7,539,908)
and distribution of dividends or profits
Cash paid relating to other financing
(50,000) - (50,000) -
activities
Sub-total of cash outflows (68,187,898) (10,059,581) (63,785,977) (7,539,908)
Net cash flows from financing activities 81,812,102 (10,059,581) (13,785,977) (7,539,908)
4. Effect of foreign exchange rate
- - - -
changes on cash and cash equivalents
5. Net (decrease)/increase in cash and
83,623,792 150,923,388 113,142,880 86,704,918
cash equivalents
Add: Cash and cash equivalents at
478,788,943 781,720,083 187,090,694 494,364,355
beginning of year
6. Cash and cash equivalent at end of this
562,412,735 932,643,471 300,233,574 581,069,273
period
8
