Report for the First Quarter of 2013 － Chiwan Wharf
Stock code: 000022 /200022 Short form: Chiwan Wharf A/Chiwan Wharf B Announcement Serial No. 2013-029
SHENZHEN CHIWAN WHARF HOLDINGS LIMITED
REPORT FOR THE FIRST QUARTER OF 2013
Section I. Important Reminders
I. The Board of Directors, the Supervisory Committee, directors, supervisors and senior management staff of
Shenzhen Chiwan Wharf Holdings Limited (hereinafter referred to as “the Company”) warrant that this
report carries no false record, misleading statement or material omission, and shall be jointly and severally
liable for the factuality, accuracy and completeness of the contents of this report.
II. All Directors, Supervisors and Senior Management Staff agreed with and guaranteed the correctness,
accuracy and completeness of the contents of this Report.
III. All directors have attended the board session for reviewing this report.
IV. This quarterly Financial Statements was un-audited.
V. Chairman of the Board Mr. Zheng Shaoping, Chief Financial Officer Mr. Zhang Fang and Financial
Manager Ms. Ma Zhihong hereby announce that they guarantee the factuality and completeness of the
financial statements enclosed in this report.
VI. This report is prepared in both Chinese and English. Should there be any understanding discrepancy
between the two versions, the Chinese version shall prevail.
Section II. Financial Highlights & Change of Shareholders
I. Financial highlights
Does the Company adjust retrospectively or restate any accounting data of previous years?
□ Yes √ No
Jan.-Mar. 2013 Jan.-Mar. 2012 +/-
Total operating income (RMB Yuan) 412,475,925 400,075,076 3.10%
Net profit attributable to shareholders of the parent (RMB Yuan) 130,207,445 113,372,701 14.85%
Net profit attributable to shareholders of the parent after extraordinary
129,730,051 111,027,141 16.85%
gains and losses (RMB Yuan)
Net cash flows from operating activities (RMB Yuan) 141,992,180 132,040,260 7.54%
Basic EPS (RMB Yuan/share) 0.202 0.176 14.77%
Diluted EPS (RMB Yuan/share) 0.202 0.176 14.77%
Weighted average ROE (%) 3.47% 3.22% 0.25%
31 Mar. 2013 31 Dec. 2012 +/-
Total assets (RMB Yuan) 7,066,707,546 6,781,130,450 4.21%
Total shareholder’s equity attributable to equity holders of the parent
3,809,225,746 3,678,032,083 3.57%
(RMB Yuan)
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Report for the First Quarter of 2013 － Chiwan Wharf
Items and amounts of extraordinary gains and losses
√ Applicable □ Inapplicable
Unit: RMB Yuan
Item 1 Jan. 2013-31 Mar. 2013 Explanation
Profit or loss on disposal of non-current assets (17,801)
Government grants recognized in profit or loss 41,739
Other non-operating income and expenses other than the above 922,569
Tax effects (176,661)
Minority interests effects (after tax) (292,452)
Total 477,394 --
II. Total number of shareholders at the period-end and shareholdings of top 10 shareholders
Unit: share
Total number of shareholders at the period-end 35,037, with 26,603 being A-share holders, and 8,434 being B-share holders
Shareholdings of top 10 shareholders (all non-restricted shareholders)
Nature of Shareholdi
Number of Number of
shareholder ng Type of shares
Name of shareholder non-restricted pledged or frozen
(state-owned or percentage (A, B, H or other)
shares held shares
foreign) (%)
CHINA NANSHAN DEVELOPMENT
57.52% 370,878,000 0 A-share
(GROUP) INC.
Foreign
KEEN FIELD ENTERPRISES LIMITED 8.58% 55,314,208 Unknown B-share
shareholder
CMBLSA RE FTIF TEMPLETON ASIAN Foreign
7.43% 47,914,954 Unknown B-share
GRW FD GTI 5496 shareholder
GOVERNMENT OF SINGAPORE INV. Foreign
0.66% 4,275,390 Unknown B-share
CORP.- A/C "C" shareholder
Foreign
EMPLOYEES PROVIDENT FUND 0.56% 3,586,266 Unknown B-share
shareholder
Foreign
TEMPLETON ASIAN GROWTH FUND 0.41% 2,657,852 Unknown B-share
shareholder
FTIF-TEMPLETON EMERGING MKT Foreign
0.39% 2,522,279 Unknown B-share
SMALLER COMPANIES FUND shareholder
Foreign
BAYVK A2-FONDS 0.37% 2,410,046 Unknown B-share
shareholder
KUMPULAN WANG PERSARAAN Foreign
0.37% 2,368,067 Unknown B-share
(DIPERBADANKAN) shareholder
TEMPLETON CANADA EMERGING MKTS Foreign
0.33% 2,143,368 Unknown B-share
FUND shareholder
China Merchants Holdings (International) Co., Ltd. is a shareholder of China Nanshan
Explanation on associated relationship or
Development (Group) Inc. (hereinafter referred to as “CND”). And Keen Field
persons acting in concert among the Enterprises Limited is a wholly-funded subsidiary of China Merchants Holdings
(International) Co., Ltd.. Other than that, the Company does not know any associated
above-mentioned shareholders
relationship between the other non-restricted shareholders.
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Report for the First Quarter of 2013 － Chiwan Wharf
Section III. Significant Events
I. Significant changes of the major accounting statement items and financial indicators for the
reporting period, as well as the reasons for these changes
Jan.-Mar. 2013 Jan.-Mar. 2012 +/- (%)
Administrative expenses 35,093,630 27,795,802 26.26%
Payments of all types of taxes 27,351,801 84,153,732 -67.50%
Cash payments to acquire or construct fixed assets, intangible
assets and other long-term assets 90,259,583 134,916,890 -33.10%
Administrative expenses increased mainly because the labor cost increased.
Payments of all types of taxes decreased mainly due to the business-tax-to-VAT policy in Nov. 2012.
Cash payments to acquire or construct fixed assets, intangible assets and other long-term assets decreased mainly because the 13#
expansion project completed in the third quarter of 2012 and there were no such expenses in the reporting period.
II. Progress of significant events and analysis & explanations on their influence and solutions
Website index
Date of for the disclosed
Overview of the significant event
disclosure relevant interim
report
On 27 Dec. 2012, the Company’s shareholder CND and Malai Storage signed the “Agreement
between China Nanshan Development (Group) Inc. and Shenzhen Malai Storage Co., Ltd.
Concerning Transferring Shares of Shenzhen Chiwan Wharf Holdings Limited”, according to which
Securities
it was agreed that CND transferred 161,190,933 circulating A-shares of the Company (representing a
Times, Ta Kung
shareholding percentage of 25%) to Malai Storage at the agreed price of RMB 11.088 per share. The
29 Dec. 2012 Pao (HK) and
equity transfer announcement (No. 2012-054) was published on Securities Times, Ta Kung Pao (HK)
www.cninfo.co
and www.cninfo.com.cn dated 29 Dec. 2012. The said transaction was approved by SASAC of the
m.cn
State Council and the Ministry of Commerce and the approval announcement (No. 2013-019) was
published on Securities Times, Ta Kung Pao (HK) and www.cninfo.com.cn dated 12 Mar. 2013. Up
to the disclosure day of this quarterly report, the equity transfer procedure is proceeding.
III. Commitments made by the Company or any shareholder with a shareholding over 5% in
the reporting period or such commitments carried down into the reporting period
Commitment Contents of Date of Period of
Commitment Execution
maker commitment commitment commitment
1. Commitments made
by CND and China
Merchants Holdings
(International) about It is promised
share custody; that the
2. Commitment made horizontal
China by China Merchants competition
Merchants Holdings issue will be
Commitment made in an acquisition In the process of
Holdings (International) about 20 Sept. 2012 solved through
report or a report on equity changes execution
(International) guaranteeing the ways such as
Co., Ltd. independency of the asset
Company; reorganization
3. Commitment made in the coming
by China Merchants 3-5 years.
Holdings
(International) about
horizontal competition;
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Report for the First Quarter of 2013 － Chiwan Wharf
and
4. Commitment made
by China Merchants
Holdings
(International) about
regulating related-party
transactions
Executed in time or not Yes
Is a commitment made concerning any
resulted horizontal competition and Yes
related-party transaction?
Promised time needed to solve the
3-5 years
problems
It is promised that the horizontal competition issue will be solved through ways such as asset
Way of solving the problems
reorganization in the coming 3-5 years.
Execution In the process of execution
IV. Predict the operating results of Jan.-Jun. 2013
Warning of possible loss or considerable YoY change of the accumulated net profit made during the period-begin to the end of the
next reporting period according to prediction, as well as explanations on the reasons:
□ Applicable √ Inapplicable
V. Securities investments
□ Applicable √ Inapplicable
VI. Derivative investments
Derivative investments held at period-end:
□ Applicable √ Inapplicable
VII. Researches, visits and interviews received in the reporting period
Inapplicable
VIII. Other
Internal control progress:
In the first quarter of 2013, according to the work plan for internal control, the Company organized and carried out
the self-evaluation of internal control. Via talks and sampling tests, and according to the previously-set evaluation
standards, the office evaluated the defects found, prepared a defect evaluation summary sheet, and then offered
their rectification advice. It then, according to the results of its aforesaid work, prepared the 2012 annual internal
control self-evaluation report, which was later disclosed upon review and approval at the 5th Session of the 7th
Board of Directors and the 5th Session of the 7th Supervisory Committee.
The Company engaged Deloitte Touche Tohmatsu Certified Public Accountants LLP to audit the effectiveness of
its 2012 financial reporting internal control. A standard auditor’s report with unqualified opinion was issued by
DDT and later disclosed by the Company.
Currently, the Company is filing internal control documents of previous periods to form the complete
documentation for the internal control mechanism and solidify the internal control achievements. It is also
renewing members of the internal control task groups and working on the internal control work plan for 2013 to
prepare for internal control activities in 2013.
The Company has completed the internal control work according to the schedule in the internal control work plan
for 2012, with no difference or delay.
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Report for the First Quarter of 2013 － Chiwan Wharf
Section IV. Financial Statements
I. Financial statements (see the attached)
1. Balance sheet
2. Income statement
3. Cash flow statement
II. Audit report
Is this report audited?
□ Yes √ No
For and on behalf of the Board
Mr. Zheng Shaoping
Chairman
Shenzhen Chiwan Wharf Holdings Limited
Dated 24 April 2013
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Report for the First Quarter of 2013 － Chiwan Wharf
SHENZHEN CHIWAN WHARF HOLDINGS LIMITED
CONSOLIDATED BALANCE SHEET
FOR THE MONTH ENDED 31 MARCH 2013
(All amounts in RMB Yuan unless otherwise stated)
[English translation for reference only]
31-Mar-2013 31-Dec-2012 31-Mar-2013 31-Dec-2012
ASSETS
Consolidated Consolidated Company Company
Current Assets
Currency funds 349,008,365 314,855,568 170,119,547 149,792,425
Notes receivable 100,000 1,680,000 - 200,000
Accounts receivable 286,440,280 251,420,961 17,001,068 17,754,009
Prepayments 2,260,477 1,623,037 93,006 93,006
Interest receivable 110,913 - 218,084 218,084
Dividends receivable - - 145,359,112 145,359,112
Other receivables 13,649,182 15,984,053 413,274,500 358,588,904
Inventories 22,540,031 21,325,571 987,615 860,702
Other current assets 7,723,200 8,956,589 - 323,406
Total current assets 681,832,448 615,845,779 747,052,932 673,189,648
Non-currentAssets
Available-for-sale financial
5,420,000 5,210,000 5,420,000 5,210,000
assets
Long-term receivables - - 11,004,285 11,004,285
Long-term equity investments 1,563,154,957 1,544,951,108 2,159,039,173 2,131,519,862
Investment property 33,159,537 33,463,476 25,347,892 25,587,744
Fixed assets 2,667,063,109 2,701,093,453 143,612,504 144,059,820
Construction in progress 630,601,245 609,932,609 1,452,894 687,894
Intangible assets 997,349,974 1,007,534,028 61,582,068 62,376,911
Goodwill 10,858,898 10,858,898 - -
Long-term prepaid expenses 268,053,958 60,962,668 7,290,924 7,488,719
Deferred tax assets 60,486,382 67,969,034 35,608,930 40,060,852
Other non-current assets 148,727,038 123,309,397 - -
Total non-current assets 6,384,875,098 6,165,284,671 2,450,358,670 2,427,996,087
TOTAL ASSETS 7,066,707,546 6,781,130,450 3,197,411,602 3,101,185,735
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Report for the First Quarter of 2013 － Chiwan Wharf
SHENZHEN CHIWAN WHARF HOLDINGS LIMITED
CONSOLIDATED BALANCE SHEET
FOR THE MONTH ENDED 31 MARCH 2013(CONTINUE)
(All amounts in RMB Yuan unless otherwise stated)
[English translation for reference only]
LIABILITIES AND 31-Mar-2013 31-Dec-2012 31-Mar-2013 31-Dec-2012
SHAREHOLDERS' EQUITY Consolidated Consolidated Company Company
Current Liabilities
Short-term borrowings 1,177,330,600 1,180,929,700 333,786,600 334,901,700
Notes payable 826,000 826,000 - -
Accounts payable 307,247,476 145,987,941 8,831,543 13,264,803
Advances 2,401,062 299,453 378,471 246,980
Employee benefits payable 33,001,404 65,535,790 25,572,082 42,214,995
Taxes payable 39,791,789 40,854,861 (5,086,822) 2,213,148
Interest payable 26,109,226 18,541,173 26,997,619 21,204,530
Other payables 36,697,801 41,574,838 498,635,966 369,642,044
Non-current liabilities due within one year 44,727,207 39,727,207 - -
Total current liabilities 1,668,132,565 1,534,276,963 889,115,459 783,688,200
Non-current Liabilities
Long-term borrowings 140,000,000 150,000,000 - -
Bonds payable 496,743,014 496,545,753 496,743,014 496,545,753
Special payables 74,590,383 80,622,976 - -
Deferred tax liabilities 1,075,000 1,022,500 1,075,000 1,022,500
Other non-current liabilities 52,421,831 53,652,356 - -
Total non-current liabilities 764,830,228 781,843,585 497,818,014 497,568,253
TOTAL LIABILITIES 2,432,962,793 2,316,120,548 1,386,933,473 1,281,256,453
SHAREHOLDERS' EQUITY
Share capital 644,763,730 644,763,730 644,763,730 644,763,730
Capital reserve 166,023,555 165,866,055 153,235,828 153,078,328
Special reserve 2,237,385 1,394,832 17,511 240,349
Surplus reserve 464,704,268 464,704,268 464,704,268 464,704,268
Unappropriated profit 2,545,115,361 2,414,907,916 547,756,792 557,142,607
Translation differences arising on
translation of financial statements (13,618,553) (13,604,718) - -
denominated in foreign currencies
Total shareholders' equity attributable to
3,809,225,746 3,678,032,083 1,810,478,129 1,819,929,282
equity holders of the parent
Minority interests 824,519,007 786,977,819 - -
TOTAL SHAREHOLDERS' EQUITY 4,633,744,753 4,465,009,902 1,810,478,129 1,819,929,282
TOTAL LIABILITIES AND
7,066,707,546 6,781,130,450 3,197,411,602 3,101,185,735
SHAREHOLDERS' EQUITY
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Report for the First Quarter of 2013 － Chiwan Wharf
SHENZHEN CHIWAN WHARF HOLDINGS LIMITED
CONSOLIDATED AND COMPANY INCOME STATEMENT
FOR THE THREE MONTHS ENDED MARCH 31 2013
(All amounts in RMB unless otherwise stated)
[English translation for reference only]
Jan.-Mar.2013 Jan.-Mar.2012 Jan.-Mar.2013 Jan.-Mar.2012
Items
Consolidated Consolidated Company Company
Total operating income 412,475,925 400,075,076 23,273,284 41,994,147
Less: Operating costs (188,538,176) (173,848,347) (28,655,828) (31,603,295)
Business taxes and levies (1,342,690) (16,195,936) (485,760) (1,771,732)
Administrative expenses (35,093,630) (27,795,802) (10,402,976) (7,934,048)
Financial (expenses)/income – net (11,047,426) (16,466,125) (4,475,119) (10,044,263)
Impairment reversals/(losses) of asset (15,988) - (161,951) -
Add: Gains from changes in fair values - - - -
Investment income 18,203,849 16,003,583 7,519,311 2,660,294
Including: Income from investments in
18,203,849 16,003,583 7,519,311 2,660,294
associates and joint ventures
Operating profit 194,641,864 181,772,449 (13,389,039) (6,698,897)
Add: Non-operating income 1,102,732 3,407,766 181,515 13,158
Less: Non-operating expenses (156,225) (137,794) - -
Including: Losses from disposal of
(17,801) (62,273) - -
non-current assets
Total Profit 195,588,371 185,042,421 (13,207,524) (6,685,739)
Less: Income tax expenses (27,881,315) (34,771,625) 3,821,709 1,671,435
Net profit 167,707,056 150,270,796 (9,385,815) (5,014,304)
Net profit attributable to shareholders of
130,207,445 113,372,701
the parent
Profit or loss attributable to minority
37,499,611 36,898,095
interests
Earnings per share
Basic earnings per share 0.202 0.176
Diluted earnings per share 0.202 0.176
Other comprehensive income 143,665 127,500 157,500 127,500
Total comprehensive income 167,850,721 150,398,296 (9,228,315) (4,886,804)
Shareholders of the parent 130,351,110 113,500,201
Minority interests 37,499,611 36,898,095
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Report for the First Quarter of 2013 － Chiwan Wharf
SHENZHEN CHIWAN WHARF HOLDINGS LIMITED
CONSOLIDATED CASH FLOW STATEMENT
FOR THE THREE MONTHS ENDED MARCH 31 2013
(All amounts in RMB Yuan unless otherwise stated)
[English translation for reference only]
Jan.-Mar.2013 Jan.-Mar.2012 Jan.-Mar.2013 Jan.-Mar.2012
Items
Consolidated Consolidated Company Company
1. Cash Flows from Operating Activities
Cash receipts from the sale of goods and the
387,196,499 394,813,329 24,865,369 40,807,707
rendering of services
Receipts of tax refunds - - - -
Other cash receipts relating to operating
5,536,500 3,473,107 162,053,704 116,630,847
activities
Sub-total of cash inflows 392,732,999 398,286,436 186,919,073 157,438,554
Cash payments for goods purchased and
(105,253,702) (108,515,640) (19,350,198) (26,955,814)
services received
Cash payments to and on behalf of employees (78,783,823) (61,127,222) (25,768,799) (14,925,842)
Payments of all types of taxes (27,351,801) (84,153,732) (1,193,035) (2,232,210)
Other cash payments relating to operating
(39,351,493) (12,449,582) (93,304,824) (89,018,818)
activities
Sub-total of cash outflows (250,740,819) (266,246,176) (139,616,856) (133,132,684)
Net Cash Flow from Operating Activities 141,992,180 132,040,260 47,302,217 24,305,870
2. Cash Flows from Investing Activities
Cash receipts from disposals and returns of
- - - 103,395,000
investments
Cash receipts from investments income - - - 3,467,766
Net cash receipts from disposals of fixed
128,900 4,688,320 - -
assets, intangible assets and other long-term assets
Sub-total of cash inflows 128,900 4,688,320 - 106,862,766
Cash payments to acquire or construct fixed
(90,259,583) (134,916,890) (2,770,860) (4,239,779)
assets, intangible assets and other long-term assets
Cash payments to acquire investments - - (20,000,000) -
Sub-total of cash outflows (90,259,583) (134,916,890) (22,770,860) (4,239,779)
Net Cash Flow from Investing Activities (90,130,683) (130,228,570) (22,770,860) 102,622,987
3. Cash Flows from Financing Activities
Cash receipts from borrowings - 150,000,000 - 50,000,000
Sub-total of cash inflows - 150,000,000 - 50,000,000
Cash repayments of borrowings (5,000,000) (50,000,000) - (50,000,000)
Cash payments for distribution of dividends or
(12,260,042) (18,137,898) (4,044,637) (13,735,977)
profit or interest
Other cash payments relating to financing
(105,307) (50,000) (105,307) (50,000)
activities
Sub-total of cash outflows (17,365,349) (68,187,898) (4,149,944) (63,785,977)
Net Cash Flow from Financing Activities (17,365,349) 81,812,102 (4,149,944) (13,785,977)
4. Effect of Foreign Exchange Rate Changes on
(343,351) - (54,291) -
Cash and Cash Equivalents
5. Net Increase in Cash and Cash Equivalents 34,152,797 83,623,792 20,327,122 113,142,880
Add: Opening balance of Cash and Cash
314,855,568 478,788,943 149,792,425 187,090,694
Equivalents
6. Closing Balance of Cash and Cash
349,008,365 562,412,735 170,119,547 300,233,574
Equivalents
9
