CMPD the 1st Quarterly Report 2014 (Main Text t)
Stock Code: 000024, 200024 Stock ID: CMPD, CMPD B
Announcement No.: 【CMPD】2014－027
China Merchants Property Development Co., Ltd.
The 1st Quarterly Report 2014 (Main Text)
§1 Important Declaration
1.1 The Board of Directors, the Supervisory Committee, the directors, supervisors and executives of the Company
guarantee that there are no significant omissions, fictitious or misleading statements carried in the Report and we
will accept individual and joint responsibilities for the truthfulness, accuracy and completeness of the Report.
1.2 All of the directors presented the board meeting at which this Quarterly Report was examined.
1.3 The 1st Quarterly Financial Statements 2014 were not audited by a CPA.
1.4 Mr. Sun Chengming - the legal representative, Ms. Wu Zhenqin – the chief financial officer, and Ms. Li
Shifang – the manager of accounting department declare: the financial reports carried in this report are secured
for its truthfulness and completeness.
1.5 This report is prepared both in English and Chinese. When there is any conflict in understanding, the Chinese
version shall prevail.
§2 Financial Highlights and Change of Shareholders
2.1 Main accounting data and financial index
Was there any retrospective adjustment or restatement for the previous year accounting data?
□ Yes √ No
This report period The same period of last year Increase/decrease (%)
Operating income (RMB) 7,250,648,108.95 6,144,504,542.89 18.00%
Net profit attributable to shareholders of the listed
755,433,248.27 810,701,084.56 -6.82%
company (RMB)
Net profit attributable to shareholders of the listed
company after deducting non-recurring gains and 794,757,195.17 801,556,684.90 -0.85%
losses (RMB)
Net cash flow from operating activities
-4,330,633,173.95 790,021,934.12 -648.17%
(RMB)
Basic earnings per share (RMB/share) 0.44 0.47 -6.38%
Diluted earnings per share (RMB/share) 0.44 0.47 -6.38%
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CMPD the 1st Quarterly Report 2014 (Main Text t)
Weighted average net income/asset ratio (%) 2.79% 3.41% Down by 0.62%
End of this report period End of last year Increase/decrease (%)
Total asset (RMB) 134,967,470,187.77 134,040,446,989.65 0.69%
Net asset value attributable to shareholders of the
27,480,935,215.51 26,725,501,967.24 2.83%
listed company (RMB)
As of the trading day before disclosure, the total share capital of the company is 1,717,300,503 shares. From the period-end to the
disclosure day of the quarterly report, the company did not change or influence the amount of owner's equity through issue of new
shares, issue of additional stock, allotment of shares, equity-based incentive and buyback.
Non-recurring gain/ loss items and amounts
√ Applicable □ Not Applicable Unit: RMB
Amount from beginning of year to the end of report
Non-recurring gain and loss items
period
Gain/loss of non-current assets -19,616.60
Government subsidies 518,000.00
Other non-operating income/expenditure net of the items above -1,125,144.84
Other items in line with definition of non-recurring gain/loss -38,732,418.92
Influences on minority shareholders’ gains/ losses 43,143.89
Impact on income tax -7,910.43
Total -39,323,946.90
Note: The Shenzhen China Merchants Overseas Chinese Town Investment Co., Ltd (SCMOCTI) was a subsidiary of the
Company, and a change of control occurred on April 1, 2013. According to Interpretation No. 4 of the Accounting Standards for
Business Enterprises, the change of control of SCMOCTI is deemed as the disposal of equity by our company. The remaining equity
is re-measured at fair value. The difference between the fair value and the original book value of the remaining equity is recognized
as the investment income of the year totaling RMB339,878,500. As the fair value of the remaining equity is the assessment
appreciation of inventory, the company carried back RMB38,732,418.92 of long-term equity investment appreciation confirmed by
assessment appreciation according to the ratio of inventory area actually carried forward during January-March of the year to the
available area for sale in the inventory to be carried forward on the assessment day.
√ Applicable □ Not Applicable
2.2 Total of shareholders and top-10 holders of current shares
Unite: Shares
Total number of shareholders at
66,588 (including 56,747 A-share holders and 9,841 B-share holders)
the end of the report period
Shareholding of top 10 shareholders
Class of Share Amount of holding Restricted Pledged or luck-up
Name of shareholder
shareholder proportion shares shares shares
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CMPD the 1st Quarterly Report 2014 (Main Text t)
(%) Share state Amount
China Merchants Shekou Industrial Zone State-owned legal
40.38% 693,419,317 693,419,317 None None
Co., Ltd. person
Overseas legal
FULL SPACE INVESTMENT LIMITED 5.48% 94,144,050 94,144,050 None None
person
China Merchants Securities Hong Kong Overseas legal
2.91% 49,898,818 49,242,245 None None
Co., Ltd. person
Overseas legal
FOXTROT INTERNATIONAL LIMITED 1.61% 27,720,000 27,720,000 None None
person
Overseas legal
ORIENTURE INVESTMENT LTD 1.55% 26,603,145 26,603,145 None None
person
Domestic none
Full Goal Tianfu Innovative Theme Equity
state-owned legal 1.11% 19,009,918 None None None
Securities Investment Fund
person
Domestic none None
China Pacific life insurance Co., Ltd. －
state-owned legal 1.08% 18,501,423 None None
Traditional－General Insurance Products
person
Domestic none None
China Pacific life insurance Co., Ltd. －
state-owned legal 0.76% 12,965,823 None None
Dividends - Personal Dividends
person
Overseas legal None
GOLDEN CHINA MASTER FUND 0.75% 12,873,191 None None
person
Domestic none
National Social Insurance Fund 102
state-owned legal 0.73% 12,546,211 None None None
Combination
person
Top 10 holders of unconditional shares
Category of shares
Amount of shares without
Name of the shareholder Category of
trade limited conditions Amount
shares
Full Goal Tianfu Innovative Theme Equity Securities Investment
19,009,918 A shares 19,009,918
Fund
China Pacific Life Insurance Co., Ltd. － Traditional － General
18,501,423 A shares 18,501,423
Insurance Products
China Pacific Life Insurance Co., Ltd. －Dividends - Personal A shares
12,965,823 12,965,823
Dividends
GOLDEN CHINA MASTER FUND 12,873,191 B shares 12,873,191
National Social Insurance Fund 102 Combination 12,546,211 A shares 12,546,211
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CMPD the 1st Quarterly Report 2014 (Main Text t)
New China Life Insurance Co., Ltd - Dividends - Personal A shares
11,850,000 11,850,000
Dividends – 018L - FH002 Shen
VALUE PARTNERS CLASSIC FUND 11,121,713 B shares 11,121,713
GF Small-capitalization Growth Equity Securities Investment Fund 10,552,812 A shares 10,552,812
Huaxin Trust Co., Ltd 9,767,652 A shares 9,767,652
BOCI SECURITIES LIMITED 9,483,400 B shares 9,483,400
1. In the Company shares held by China Merchants Securities Hong Kong Co., Ltd., 49,242,245 shares were bought in by Top Chief in
the previous year through entrustment;
2. Shekou Industrial Zone and its subsidiaries Full Space Investment, Top Chief International, FOXTROT INTERNATIONAL
LIMITED, and ORIENTURE INVESTMENT LTD are persons acting in concert.
3. China Pacific Life Insurance Co., Ltd.－Traditional－General Insurance Products and China Pacific Life Insurance Co., Ltd.－
Dividends - Personal Dividends belong to the same fund management company.
Do the shareholders of the Company have the agreement repurchase transactions during the report period?
□ Yes √ No
§3 Significant Events
3.1 Situation and causations of major change in accounting items and indices
December 31, Increase/
Assets and liabilities items March 31, 2014 Major Change Reasons
2013 Decrease (±%)
Increase of receivables from
Accounts receivable 12,192 7,686 0.03%
sale of real estate
Accrued employee
16,702 38,589 -0.16% Payment of accrued payroll
compensation
Increase of interests payable
Interest payable 23,595 15,236 0.06%
on bank borrowings
Dividends payable 512 12,093 -0.09% Payment of accrued dividends
Increase/
Gain/ loss items Jan-Mar, 2014 Jan-Mar, 2013 Major Change Reasons
Decrease (±%)
Increase of sales of real estate
Operating cost 457,655 303,870 51% carried forward during the
period
Operating tax and additional As the margin of the items
73,277 107,257 -32% carried forward is low, the land
expenses
appreciation tax decreased.
The interest payment and
foreign exchange losses of the
Financial cost 21,683 6,255 247%
period increased on the
year-over-year basis.
The investment income
increased due to the changes of
Investment income 11,944 231 5082%
the equity act of affiliated
company.
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CMPD the 1st Quarterly Report 2014 (Main Text t)
Increase/
Cash flow items Jan-Mar, 2014 Jan-Mar, 2013 Major Change Reasons
Decrease (±%)
Sub-total of cash outflow from The land and infrastructure
1,458,050 925,954 57% expenses increased than one
business activities
year earlier.
Net cash flow generated by The growth of operating cash
-433,064 79,003 -648% outflow is larger than that of
business operation
the operating cash inflow.
Sub-total of cash outflow due The cash paid for acquisition
7,150 4,374 63%
to investment activities of equity increased.
Cash outflows year-on-year
Net cash flow generated by increased, but cash inflows
-7,150 -4,361 64%
investment year-on-year decreased in the
investment activities.
Subtotal of cash inflow from New borrowings of the period
348,257 710,170 -51%
financing activities decreased.
Subtotal of cash outflow due to Repayment of borrowings
374,651 203,812 84%
financing activities increased.
3.2 Progress of major issue and their influences and solutions
References of Disclosure
Overview of Major Issue Disclosure Date
Websites of Interim Report
At the second extraordinary general meeting of
shareholders in 2013, the Company has discussed and
passed the proposal in which shares will be issued to buy For more information, please
assets and raise money for the associated transactions. On refer to China Securities News,
Nov 28, 2013, the company received the notice on Nov 29, 2013; Nov 8, 2013; Oct. 23, Securities Times, Shanghai
processing application for administrative approval. That
2013; Oct. 16, 2013; Sep 17, 2013 Securities News, Hong Kong
means the China Securities Regulatory Commission has
accepted the application of administrative approval the Commercial Daily, Securities
company has filed for the issue of new shares to buy Daily and www.cninfo.com.cn.
assets and raise money for the associated deal. The
application remains in the stage of review.
3.3 Commitment issues made by the Company or shareholders with over 5% of shares in the
report term or carried down from the previous terms.
Date of
Party of Term of Status of
Commitments Content of Commitments commitme
commitment commitment fulfilling
nt
Commitment in Will input properties including high quality lands to support Due at the day In the report
Dec 9
share equity CMSIZ the Company’s development after the share equity after two years term,
2005
relocation relocation. upon stop CMSIZ was
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CMPD the 1st Quarterly Report 2014 (Main Text t)
holding of the fully acting
Company’s as
shares committed.
CMSIZ, the controlling shareholder of the Company,
promised not to conduct or participate with 3rd parties in
Due at the day In the report
any business or activities possibly competing with the
Other after two years term,
Company in terms of business, new commodities and new
commitments to Mar 19 upon stop CMSIZ was
CMSIZ technology in any forms (including but not limited to direct
mid-small 2008 holding of the fully acting
operation, indirect operation, joint investment). Never use
shareholders Company’s as
the information obtained from the Company to conduct or
shares committed.
participate in and competitive activities against the
Company.
3.4 Non-operating capital occupying conditions of controlling shareholders and their related
parties for listed company
Unit: 0,000 RMB
Amount of Total
newly repay
Names of increased amoun Predicte Predicted
Opening Closing Predicte
shareholders or Holding time Reasons occupying t d repay repay time
balance balance d repay
related persons during during amount (month)
way
report report
period period
Shanghai New September,
Nanshan Real 2011 to now Fund Cash December,
14,934 2,070 - 17,004 17,004
Estate Development borrowing pay off 2014
Co., Ltd
Jones Tech Limited December, 2012 Reinvest
6,243 - 6,243 - - - -
to now ment fund
Holly Profit December, 2012 Reinvest
9,255 - 9,255 - - - -
Limited to now ment fund
Blue Cove December, 2013 Reinvest
4,481 - 4,481 - - - -
International Ltd to now ment fund
Powerwise December, 2013 Reinvest
8,903 - 8,903 - - - -
International Ltd to now ment fund
Total 43,816 2,070 28,882 17,004 - 17,004 -
3.5 Business forecast for January-June in 2014
Alert of loss or significant change in net profit from the beginning of year to the end of next report period or comparing with the
same period of last year, and statement of causations.
□Applicable √ Not applicable
3.6 Securities investment
□Applicable √ Not applicable
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CMPD the 1st Quarterly Report 2014 (Main Text t)
Explanation of holding stock rights of other listed companies
□Applicable √ Not applicable
3.7 Investment of derivate instruments
Derivate instruments in stock at the end of period
□Applicable √ Not applicable
3.8 Table about investigations, communications and interviews received by the Company
during the report period
Received object Content discussed and
Reception date Reception place Reception way Received object
type information provided
Telephone Institutional
January 4, 2014 Shenzhen China Securities
communication investor
Telephone Institutional
January 7, 2014 Shenzhen Orient Securities
communication investor
Telephone
January 8, 2014 Shenzhen individual investor individual investor
communication
Telephone
January 8, 2014 Shenzhen individual investor individual investor
communication
Project Institutional Everbright
January 8, 2014 Shanghai ① Introducing operation
investigation investor Securities
of the Company
Institutional ② Discussing the
January 9, 2014 Shenzhen Field investigation Runhui Investment
investor industry development;
Institutional ③ Providing the
January 14, 2014 Suzhou, Shanghai Field investigation Runhui Investment
investor information announced and
William Blair、 brochure for projects of the
Institutional
January 15, 2014 Nanjing, Suzhou Field investigation Company.
investor CICC
④ Visiting the Company
Telephone
January 16, 2014 Shenzhen individual investor individual investor on-sale
communication
Institutional
January 17, 2014 Shenzhen Field investigation Harvest Fund
investor
China Asset
Institutional
January 24, 2014 Shenzhen Field investigation Management,
investor
Haitong Securities
Telephone Institutional Hillhouse Capital
January 29, 2014 Shenzhen
communication investor Management
February 8, 2014 Shenzhen Field investigation Institutional Fullgoal Fund
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CMPD the 1st Quarterly Report 2014 (Main Text t)
investor
Telephone Institutional Ping An Securities,
February 10, 2014 Shenzhen GF Securities,
communication investor Schroders Fund
GF Securities,
Institutional China Asset
February 12, 2014 Shenzhen Field investigation Management,Yinhu
investor a Fund, Penghua
Fund, etc
Telephone
February 12, 2014 Shenzhen individual investor individual investor
communication
Telephone Institutional
February 12, 2014 Shenzhen CICC
communication investor
Telephone
February 12, 2014 Shenzhen individual investor individual investor
communication
Telephone
February 14, 2014 Shenzhen individual investor individual investor
communication
Telephone Institutional
February 17, 2014 Shenzhen Huatai Securities
communication investor
Telephone
February 20, 2014 Shenzhen individual investor individual investor
communication
Telephone
February 27, 2014 Shenzhen individual investor individual investor
communication
Telephone
March 5, 2014 Shenzhen individual investor individual investor
communication
Telephone
March 13, 2014 Shenzhen individual investor individual investor
communication
40 institution s
such as Guotai
Junan Securities,
CITIC Securities,
Institutional China Jianyin
March 17, 2014 Shenzhen Field investigation Investment
investor Securities, Fullgoal
Fund,
Citic-prudential
Fund、Penghua
Fun, etc.
Baring Asset
Management
Limited, Norges
Institutional Bank, Capital
March 24, 2014 Hong Kong Strategic seminar
investor Research Global
Investors,
Manulife, Morgan
Stanley Investment
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CMPD the 1st Quarterly Report 2014 (Main Text t)
Management
Company, Three
Corner
Telephone Institutional
March 31, 2014 Shenzhen GF Securities
communication investor
Telephone Institutional
March 31, 2014 Shenzhen China Securities
communication investor
Telephone Institutional
March 31, 2014 Shenzhen Runhui Investment
communication investor
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