CHINA MERCHANTS PORT GROUP CO., LTD.
THE REPORT FOR THE FIRST QUARTER OF 2021
Date of Disclosure: 30 April 2021
China Merchants Port Group Co., Ltd. The Report for the First Quarter of 2021
Part I Important Notes
The Board of Directors (or the “Board”), the Supervisory Committee as well as the directors,
supervisors and senior management of China Merchants Port Group Co., Ltd. (hereinafter referred
to as the “Company”) hereby guarantee the factuality, accuracy and completeness of the contents of
this Report and its summary, and shall be jointly and severally liable for any misrepresentations,
misleading statements or material omissions therein.
All the Company’s directors have attended the Board meeting for the review of this Report and its
summary.
Bai Jingtao, the Company’s legal representative, Lu Yongxin, the Company’s Acting Chief
Financial Officer, and Sun Ligan, the person-in-charge of the accounting organ hereby guarantee
that the Financial Statements carried in this Report are factual, accurate and complete.
Securities Times, Shanghai Securities News, Ta Kung Pao (HK) and www.cninfo.com.cn have been
designated by the Company for information disclosure. And all information about the Company
shall be subject to what’s disclosed on the aforesaid media. Investors are kindly reminded to pay
attention to.
This Report and its summary have been prepared in both Chinese and English. Should there be any
discrepancies or misunderstandings between the two versions, the Chinese version shall prevail.
2
China Merchants Port Group Co., Ltd. The Report for the First Quarter of 2021
Definitions
Term Definition
The “Company”, “CMPort” or China Merchants Port Group Co., Ltd., formerly known as “Shenzhen Chiwan Wharf
“we” Holdings Limited”
CMG China Merchants Group Co., Limited
CMPort Holdings China Merchants Port Holdings Company Limited (00144.HK)
CMHIT China Merchants Holdings (International) Information Technology Co., Ltd.
Jifa Logistics Dalian Port Jifa Logistics Co., Ltd.
DPCD Dalian Port Container Development Co., Ltd.
Yingkou Port Group Yingkou Port Group Co., Ltd.
DPN Dalian Port Logistics Network Co., Ltd.
YPIT Yingkou Port Information Technology Co., Ltd.
Zhanjiang Port Zhanjiang Port (Group) Co., Ltd.
Haixing Harbor Shenzhen Haixing Harbor Development Co., Ltd.
SZSE Shenzhen Stock Exchange
CMG Finance China Merchants Group Finance Co., Ltd.
The cninfo website www.cninfo.com.cn
Expressed in the Chinese currency of Renminbi
RMB
Expressed in tens of thousands of Renminbi
RMB’0,000
Expressed in hundreds of millions of Renminbi
RMB’00,000,000
(unless otherwise specified)
3
China Merchants Port Group Co., Ltd. The Report for the First Quarter of 2021
Part II Key Corporate Information
I Key Accounting Data and Financial Information
Indicate by tick mark whether there is any retrospectively restated datum in the table below.
√Yes □ No
Reason: Business combination under common control
On 18 December 2020, the Company signed the Equity Subscription and Capital Increase
Agreement for CMHIT with the Company's subsidiaries, CMPort Holdings and CMHIT, Jifa
Logistics and Yingkou Port Group.
According to the Equity Subscription and Capital Increase Agreement, Jifa Logistics and DPCD
would increase the capital of CMHIT with 29.40% and 49.63% of their respective shares in DPN,
and Yingkou Port Group would increase the capital of CMHIT with 100% of its equity in YPIT.
Before and after the merger, CMHIT, DPN and YPIT are all subject to the final control of CMG, the
actual controller of the Company, and such control is not temporary.
The above capital increase was completed on 9 February 2021. Upon completion of the capital
increase, the Company, CMPort Holdings, Jifa Logistics, DPCD and Yingkou Port Group will hold
13.18%, 43.74%, 13.26%, 22.38% and 7.44% equity in CMHIT, respectively. CMHIT remains a
majority-owned subsidiary of the Company. CMHIT holds 79.03% equity in DPN and 100% equity
in YPIT respectively, and is able to exercise control over the latter two companies. Therefore, since
9 February 2021, the Company will follow the accounting processing method for enterprise merger
under the same control and include DPN and YPIT in the consolidated scope of the Company's
consolidated financial statements from the beginning of the comparative financial statement period.
4
China Merchants Port Group Co., Ltd. The Report for the First Quarter of 2021
Q1 2020 Change
Q1 2021
Original Restated Restated
Operating revenue (RMB) 3,574,128,378.48 2,886,025,618.74 2,903,610,633.29 23.09%
Net profit attributable to the
listed company’s 532,867,484.84 149,871,785.99 149,234,067.89 257.07%
shareholders (RMB)
Net profit attributable to the
listed company’s
shareholders before 524,972,071.00 199,867,940.76 200,075,200.85 162.39%
exceptional gains and losses
(RMB)
Net cash generated
from/used in operating 880,940,193.44 847,165,371.60 828,153,884.17 6.37%
activities (RMB)
Basic earnings per share
0.28 0.08 0.08 250.00%
(RMB/share)
Diluted earnings per share
0.28 0.08 0.08 250.00%
(RMB/share)
Weighted average return on
1.42% 0.42% 0.42% 1.00%
equity (%)
31 December 2020 Change
31 March 2021
Original Restated Restated
Total assets (RMB) 166,226,373,047.70 168,543,611,777.21 168,728,326,345.77 -1.48%
Equity attributable to the
listed company’s 37,868,722,895.56 37,117,806,052.18 37,165,277,744.78 1.89%
shareholders (RMB)
Total share capital up to the former trading date before the disclosure:
Total share capital up to the former trading date
1,922,365,124
before the disclosure (share)
Fully diluted EPS calculated by the newest share capital:
Fully diluted EPS calculated by the newest share
0.28
capital (RMB/share)
5
China Merchants Port Group Co., Ltd. The Report for the First Quarter of 2021
Exceptional gains and losses:
Unit: RMB
Item Q1 2021 Note
Gain or loss on disposal of non-current assets (inclusive of
13,401,172.17
impairment allowance write-offs)
Government subsidies charged to current profit or loss (exclusive
of government subsidies given in the Company’s ordinary course
19,553,938.77
of business at fixed quotas or amounts as per the government’s
uniform standards)
Capital occupation charges on non-financial enterprises that are
61,352,371.27
charged to current profit or loss
Current profit or loss on subsidiaries obtained in business
combinations involving enterprises under common control from -3,255,790.50
the period-beginning to combination dates, net
Gain or loss on fair-value changes in held-for-trading and
derivative financial assets and liabilities & income from disposal
of held-for-trading and derivative financial assets and liabilities,
-168,400,154.98
and other investments in debt obligations (exclusive of effective
portion of hedges that arise in the Company’s ordinary course of
business)
Non-operating income and expense other than the above 1,081,081.32
Less: Income tax effects -62,960,484.26
Non-controlling interests effects (net of tax) -21,202,311.53
Total 7,895,413.84 --
Explanation of why the Company reclassifies as recurrent an exceptional gain/loss item defined or
listed in the Explanatory Announcement No. 1 on Information Disclosure for Companies Offering
Their Securities to the Public—Exceptional Gain/Loss Items:
□ Applicable √ Not applicable
II Total Number of Shareholders and Holdings of Top 10 Shareholders at 31
March 2021
1. Numbers of Ordinary Shareholders and Preferred Shareholders with Resumed Voting
Rights as well as Holdings of Top 10 Shareholders
6
China Merchants Port Group Co., Ltd. The Report for the First Quarter of 2021
Unit: share
Number of preferred shareholders
Number of ordinary shareholders at the
33,045 with resumed voting rights at the 0
period-end
period-end (if any)
Top 10 shareholders
Nature of Shareholding Restricted
Name of shareholder Total shares held Shares in pledge or frozen
shareholder percentage shares held
CHINA MERCHANTS PORT
INVESTMENT Foreign legal
59.75% 1,148,648,648 1,148,648,648 0
DEVELOPMENT COMPANY person
LIMITED
CHINA MERCHANTS
State-owned
GANGTONG DEVELOPMENT 19.29% 370,878,000 0 0
legal person
(SHENZHEN) CO., LTD.
SHENZHEN
INFRASTRUCTURE
INVESTMENT Fund and
FUND-SHENZHEN wealth
3.37% 64,850,182 0
INFRASTRUCTURE management 0
INVESTMENT FUND products
PARTNERSHIP (LIMITED
PARTNERSHIP)
CHINA-AFRICA State-owned
3.33% 64,102,564 0
DEVELOPMENT FUND legal person 0
BROADFORD GLOBAL State-owned
2.88% 55,314,208 0 0
LIMITED legal person
CMBLSA RE FTIF
Foreign legal
TEMPLETON ASIAN GRW FD 0.19% 3,659,487 0 0
person
GTI 5496
HONG KONG SECURITIES Foreign legal
0.17% 3,349,154 0 0
CLEARING COMPANY LTD. person
CHINA MERCHANTS State-owned
0.14% 2,764,355 0 0
SECURITIES (HK) CO., LTD. legal person
Domestic
MAI SHUQING natural 0.11% 2,129,247 0 0
person
ARROWSTREET EMERGING
Foreign legal
MARKET ALPHA EXTENSION 0.10% 1,927,390 0 0
person
TRUST FUND
Top 10 unrestricted shareholders
Shares by type
Name of shareholder Unrestricted shares held
Type Shares
7
China Merchants Port Group Co., Ltd. The Report for the First Quarter of 2021
CHINA MERCHANTS GANGTONG RMB-denominated
370,878,000 370,878,000
DEVELOPMENT (SHENZHEN) CO., LTD. ordinary stock
SHENZHEN INFRASTRUCTURE
INVESTMENT FUND-SHENZHEN RMB-denominated
64,850,182 64,850,182
INFRASTRUCTURE INVESTMENT FUND ordinary stock
PARTNERSHIP (LIMITED PARTNERSHIP)
RMB-denominated
CHINA-AFRICA DEVELOPMENT FUND 64,102,564 64,102,564
ordinary stock
Domestically
BROADFORD GLOBAL LIMITED 55,314,208 55,314,208
listed foreign stock
CMBLSA RE FTIF TEMPLETON ASIAN Domestically
3,659,487 3,659,487
GRW FD GTI 5496 listed foreign stock
HONG KONG SECURITIES CLEARING RMB-denominated
3,349,154 3,349,154
COMPANY LTD. ordinary stock
CHINA MERCHANTS SECURITIES (HK) Domestically
2,764,355 2,764,355
CO., LTD. listed foreign stock
RMB-denominated
MAI SHUQING 2,129,247 2,129,247
ordinary stock
ARROWSTREET EMERGING MARKET Domestically
1,927,390 1,927,390
ALPHA EXTENSION TRUST FUND listed foreign stock
Domestically
NORGES BANK 1,722,982 1,722,982
listed foreign stock
China Merchants Gangtong Development (Shenzhen) Co., Ltd. is a
majority-owned subsidiary of Broadford Global Limited. Broadford Global
Related or acting-in-concert parties among the
Limited is the controlling shareholder of China Merchants Port Investment
shareholders above
Development Company Limited. The Company does not know whether the other
unrestricted shareholders are related parties or not.
Top 10 shareholders involved in securities
N/A
margin trading (if any)
Indicate by tick mark whether any of the top 10 ordinary shareholders or the top 10 unrestricted
ordinary shareholders of the Company conducted any promissory repo during the Reporting Period.
□ Yes √ No
No such cases in the Reporting Period.
2. Number of Preferred Shareholders and Shareholdings of Top 10 of Them
□ Applicable √ Not applicable
8
China Merchants Port Group Co., Ltd. The Report for the First Quarter of 2021
Part III Significant Events
I Changes in Key Financial Statement Line Items and Their Explanation
Unit: RMB
Item 31 March 2021 1 January 2021 Change Explanation of changes
Repayment of mature loans in the current
Cash and bank balances 10,160,143,564.88 11,918,423,758.71 -14.75%
period
Held-for-trading financial Maturity of structured deposits in the current
180,714.42 850,165,448.59 -99.98%
assets period
Recognition of 2020 dividends receivable
Other receivables 3,865,304,696.32 3,561,292,313.98 8.54% from associates and joint ventures in the
current period
Non-current assets due Recovery of long-term receivables due within
18,131,636.53 67,692,473.44 -73.21%
within one year one year upon maturity
Repayment of borrowings from the Financial
Short-term borrowings 6,276,256,293.11 10,483,775,548.93 -40.13%
Company upon maturity in the current period
New short-term financings used for
Other current liabilities 3,178,989,371.10 2,383,668,985.94 33.37% supplementing working capital in the current
period
Item Q1 2021 Q1 2020 Change Explanation of changes
Operating income 3,574,128,378.48 2,903,610,633.29 23.09% Year-on-year increase in business volume
Year-on-year decrease in the balance of
interest-bearing liabilities and the costs of
Finance expenses 374,381,231.90 536,852,222.03 -30.26%
capital, as well as exchange rate fluctuations
in the current period
Year-on-year increase in the share of profits of
Investment income 1,041,036,342.43 660,216,031.98 57.68%
associates and joint ventures
Increase in deferred income tax liabilities as a
result of a year-on-year increase in dividend
Income tax expenses 265,348,021.64 170,459,172.82 55.67% tax provisions and a year-on-year decrease in
losses on the fair value of equities held in the
current period
Year-on-year increase in dividend income
Cash receipts from
1,083,443,879.50 211,664,358.76 411.87% from associates and joint ventures in the
investments income
current period
Payment for the Tranche 1 of mandatory
Cash payments to acquire
977,561,289.86 2,746,841,398.03 -64.41% convertible bonds of Terminal Link S.A. in
investments
the same period of last year, with no
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China Merchants Port Group Co., Ltd. The Report for the First Quarter of 2021
comparable payment in the current period
Payment for the Tranche 1 loan of Terminal
Other cash payments relating
5,967,866.95 3,792,979,774.69 -99.84% Link S.A. in the same period of last year, with
to investing activities
no comparable payment in the current period
Cash receipts from Year-on-year decrease in short-term
4,513,459,100.62 8,281,485,148.10 -45.50%
borrowings borrowings obtained in the current period
Cash repayments of Year-on-year increase in repayments of
7,886,158,730.55 3,167,336,858.98 148.98%
borrowings matured debts
Payment for purchasing 10% of equity in TCP
Other cash payments relating Participaes S.A. in the same period of last
1,760,847.73 447,602,677.41 -99.61%
to financing activities year, with no comparable payment in the
current period
II Progress, Influence and Solutions with regard to Significant Events
1. Stock Option Incentive Plan
The Company is implementing the stock option incentive plan, and the review and approval
procedures carried out in connection with the Stock Option Incentive Plan are as follows:
(1) At the 2nd Meeting of the Nomination, Remuneration and Appraisal Committee of the 9th Board
of Directors in 2019 held on 10 October 2019, the following proposals were considered and
approved, including Stock Option Incentive Plan of CMPort (Draft) (hereinafter referred to as the
“Stock Option Incentive Plan (Draft)”) and its summary, the Stock Option Incentive Plan of
CMPort (Phase I) (Draft) (hereinafter referred to as the “Stock Option Incentive Plan (Phase I)
(Draft)”) and its summary, Management Measures for the Stock Option Incentive Plan of CMPort
(hereinafter referred to as the “Management Measures for the Stock Option Incentive Plan”),
Appraisal Measures for Implementing the Stock Option Incentive Plan and Implementation
Appraisal Measures of Stock Option Incentive Plan by China Merchants Port Group Co., Ltd.
(hereinafter referred to as “Implementation Appraisal Measures of Stock Option Incentive Plan”).
(2) At the 9th Extraordinary Meeting of the 9th Board of Directors in 2019 held on 11 October 2019,
the following proposals were reviewed and approved, including Stock Option Incentive Plan (Draft)
and its summary, Stock Option Incentive Plan (Phase I) (Draft) and its summary, Management
Measures for the Stock Option Incentive Plan, Implementation Appraisal Measures of Stock Option
Incentive Plan, and Proposal on Requesting the General Meeting to Authorize the Board of
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China Merchants Port Group Co., Ltd. The Report for the First Quarter of 2021
Directors to Go Through Share Incentive Procedures, and independent directors expressed
independent opinions that agreed these proposals. At the 2nd Extraordinary Meeting of the 9th
Supervisory Committee in 2019 held on the same day, the following proposals were reviewed and
approved, including Stock Option Incentive Plan (Draft) and its summary, Stock Option Incentive
Plan (Phase I) (Draft) and its summary, Management Measures for the Stock Option Incentive Plan,
and Implementation Appraisal Measures of Stock Option Incentive Plan, and the List of Incentive
Objects under the Stock Option Incentive Plan (Phase I) was reviewed with opinions expressed.
Refer to the relevant announcements (Announcement No. 2019-069, No. 2019-070) disclosed on
www.cninfo.com.cn for details.
(3) On 3 January 2020, the Company received Approval on the Implementation of Stock Option
Incentive Plan of CMPort (GZKF [2019] No. 748) issued by the State-owned Assets Supervision
and Administration Commission of the State Council from China Merchants Group, the actual
controller of the Company. In principle, approval was given to the Company for its implementation
of the Stock Option Incentive Plan and performance appraisal goals under the Plan. Refer to the
relevant announcement (Announcement No. 2020-001) disclosed on www.cninfo.com.cn for
details.
(4) At the 1st Extraordinary Meeting of the 9th Board of Directors in 2020 held on 9 January 2020,
Stock Option Incentive Plan (Phase I) (Revised Draft) and its summary were reviewed and
approved, and independent directors expressed independent opinions that agreed the proposal. At
the 1st Extraordinary Meeting of the 9th Supervisory Committee in 2020 held on the same day, Stock
Option Incentive Plan (Phase I) (Revised Draft) and its summary were reviewed and approved and
List of Incentive objects under the Stock Option Incentive Plan (Phase I) (After Adjustment) was
reviewed with opinions expressed. Refer to the relevant announcements (Announcement No.
2020-002, No. 2020-003, No. 2020-004) disclosed on www.cninfo.com.cn for details.
(5) On 20 January 2020, the Company disclosed the Announcement on Notes of the Supervisory
Committee on the Review and Publicity of the List of Incentive Objects under the Stock Option
Incentive Plan (Phase I). The Supervisory Committee reviewed the list of incentive objects for the
first grant. The Company published the names and positions of the incentive objects for the first
grant of the stock option in its internal OA system from 10 January to 19 January 2020. By the end
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China Merchants Port Group Co., Ltd. The Report for the First Quarter of 2021
of the publicity, the Company’s Supervisory Committee had not received any objection against the
incentive objects for the first grant. Refer to the relevant announcement (Announcement No.
2020-009) disclosed on www.cninfo.com.cn for details.
(6) At the 1st Extraordinary General Meeting of 2020 held on 3 February 2020, the following
proposals were considered and approved, including Stock Option Incentive Plan (Draft) and its
summary, Stock Option Incentive Plan (Phase I) (Revised Draft) and its summary, Management
Measures for the Stock Option Incentive Plan, Implementation Appraisal Measures of Stock Option
Incentive Plan, and Proposal on Requesting the General Meeting to Authorize the Board of
Directors to Go Through Share Incentive Procedures. The Company’s Stock Option Incentive Plan
was approved and the Board of Directors was authorized to determine the grant date, grant stock
option to the incentive objects when they meet the conditions and go through all procedures
required for the grant. On the same day, the Company disclosed Self-inspection Report on the
Trading of the Company’s Shares by Insiders and Incentive Objects of the Stock Option Incentive
Plan (Phase I) according to its verification of the trading engaged by the insiders and incentive
objects. Refer to the relevant announcement (Announcement No. 2020-011) disclosed on
www.cninfo.com.cn for details.
(7) At the 2nd Extraordinary Meeting of the 9th Board of Directors in 2020 and the 2nd Extraordinary
Meeting of the 9th Supervisory Committee in 2020 held on 3 February 2020, the Proposal on the
Grant of Stock Option (the First Grant) to Incentive Objects of the Stock Option Incentive Plan of
the Company was considered and approved respectively. The Company’s Board of Supervisors
reviewed the list of incentive objects under the Stock Option Incentive Plan (Phase I) on the grant
date and expressed opinions, and independent directors expressed independent opinions that agreed
the proposal. Refer to the relevant announcements (Announcement No. 2020-012, No. 2020-013,
No. 2020-014) disclosed on www.cninfo.com.cn for details.
(8) On 14 March 2020, the Company has completed registration for the grant of stock option (the
first grant) under the Stock Option Incentive Plan (Phase I). Refer to the Announcement on
Completion of the Grant of Stock Option (the First Grant) under the Stock Option Incentive Plan
(Phase I) of the Company (Announcement No. 2020-020) disclosed on www.cninfo.com.cn for
details.
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China Merchants Port Group Co., Ltd. The Report for the First Quarter of 2021
(9) At the 1st Extraordinary Meeting of the 10th Board of Directors in 2021 and the 1st Extraordinary
Meeting of the 10th Supervisory Committee in 2021 held on 29 January 2021, the Proposal on
Adjusting the Exercise Price of the First Grant under the Stock Option Incentive Plan (Phase I) and
the Proposal on the Grant of Stock Option (the Reserved) to Incentive Objects of the Stock Option
Incentive Plan (Phase I) of the Company were considered and approved respectively. The
Supervisory Committee reviewed the list of incentive objects for the reserved stock options under
the Stock Option Incentive Plan (Phase I) on the grant date, and independent directors expressed
independent opinions that agreed the proposals. Refer to the relevant announcements
(Announcement No. 2021-007, No. 2021-008) disclosed on www.cninfo.com.cn for details.
(10) On 9 February 2021, the Company disclosed the Announcement on Notes of the Supervisory
Committee on the Review and Publicity of the List of Incentive Objects for the Reservation under
the Stock Option Incentive Plan (Phase I) (Announcement No. 2021-009). The Company published
the names and positions of the incentive objects for reserved stock options in its internal OA system
from 29 January 2021 to 8 February 2021. By the end of the publicity, the Company’s Supervisory
Committee had not received any objection against the incentive objects for reserved stock options.
Refer to the relevant announcement (Announcement No. 2021-009) disclosed on
www.cninfo.com.cn for details.
(11) 5 March 2021, the Company has completed registration for the grant of stock option (the
reserved) under the Stock Option Incentive Plan (Phase I). Refer to the Announcement on
Completion of the Grant of Stock Option (the Reserved) under the Stock Option Incentive Plan
(Phase I) of the Company (Announcement No. 2021-013) disclosed on www.cninfo.com.cn for
details.
2. Information Disclosure Index
In the Reporting Period, the significant matters disclosed in Securities Time, Shanghai Securities
News, Ta Kung Pao and www.cninfo.com.cn are as follows:
Announcement
No. Date Title
No.
Announcement on Voluntary Information Disclosure of Business
1 2021-001 16 January 2021
Volume Data of December 2020
13
China Merchants Port Group Co., Ltd. The Report for the First Quarter of 2021
Announcement on Resignation of Vice GM & Secretary of the Board
2 2021-002 16 January 2021
and Vice GM as Acting Secretary of the Board
Reminder of the Issuance of 2021 Phase I Super-short-term Financing
3 2021-003 21 January 2021
Bonds
Announcement on Issued Result of 2021 Phase I Super-short-term
4 2021-004 26 January 2021
Financing Bonds
Announcement on Resolutions of the 1st Special Meeting of the 10th
5 2021-005 30 January 2021
Board of Directors in 2021
Announcement on Resolutions of the 1st Special Meeting of the 10th
6 2021-006 30 January 2021
Supervisory Committee in 2021
Announcement on Adjusting the Exercise Price of the First Grant
7 2021-007 30 January 2021
under the Stock Option Incentive Plan (Phase I)
Announcement on the Grant of Stock Option (the Reserved) to
8 2021-008 30 January 2021 Incentive Objects of the Stock Option Incentive Plan (Phase I) of the
Company
Announcement on Notes of the Supervisory Committee on the
9 2021-009 9 February 2021 Review and Publicity of the List of Incentive Objects for the
Reservation under the Stock Option Incentive Plan (Phase I)
Announcement on Voluntary Information Disclosure of Business
10 2021-010 19 February 2021
Volume Data of January 2021
Redemption of 2020 Phase III Super-short-term Financing Bonds at
11 2021-011 3 March 2021
Maturity
12 2021-012 6 March 2021 Announcement on Resignation of Director
Announcement on Completion of the Grant of Stock Option (the
13 2021-013 6 March 2021 Reserved) under the Stock Option Incentive Plan (Phase I) of the
Company
Announcement on Voluntary Information Disclosure of Business
14 2021-014 16 March 2021
Volume Data of February 2021
Reminder of the Issuance of 2021 Phase II Super-short-term
15 2021-015 19 March 2021
Financing Bonds
Announcement on Issued Result of 2021 Phase II Super-short-term
16 2021-016 24 March 2021
Financing Bonds
Announcement on Resolutions of the 3rd Meeting of the 10th Board of
17 2021-017 31 March 2021
Directors
Announcement on Resolutions of the 3rd Meeting of the 10th
18 2021-018 31 March 2021
Supervisory Committee
19 2021-019 31 March 2021 Announcement on 2020 Profit Distribution Plan
20 2021-020 31 March 2021 Abstract of Annual Report of 2020 (Chinese and English Versions)
Announcement on the Confirmation of the Continuing Related-Party
21 2021-021 31 March 2021
Transactions in 2020 and the Estimation of Such Transactions in 2021
22 2021-022 31 March 2021 Announcement on the Related-Party Transaction Regarding Making
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China Merchants Port Group Co., Ltd. The Report for the First Quarter of 2021
Deposits in and Obtaining Loans from China Merchants Bank in 2021
Announcement on the External Guarantee Progress of the Company
23 2021-023 31 March 2021 in 2020 and the Expected New External Guarantee Line in the Next
12 Months
Special Report of the Deposit and Use of Annual Raised Funds in
24 2021-024 31 March 2021
2020
25 2021-025 31 March 2021 Announcement on Reappointment of Accounting Firm in 2021
26 2021-026 31 March 2021 Announcement on By-Election of Director
Announcement on the Disclosure of the 2020 Annual Results by a
27 2021-027 31 March 2021
Majority-Owned Subsidiary
Announcement on the Online Investor Communication on the 2020
28 2021-028 31 March 2021
Annual Results to Be Held
Progress of any share repurchase:
□ Applicable √ Not applicable
Progress of any reduction of the repurchased shares through centralized bidding:
□ Applicable √ Not applicable
III Commitments that the Company’s Actual Controller, Shareholders, Related
Parties, Acquirers, the Company Itself or Other Parties, Failed to Fulfill on
Time during the Reporting Period
□ Applicable √ Not applicable
No such cases in the Reporting Period.
IV Financial Investments
1. Securities Investments
Unit: RMB
Purch Gain/
Sold
Account Cumulative ased loss
Variet Gain/loss on fair in the Capit
ing fair value in the in the
y of Code of Name of Initial investment Beginning value changes in Repor Ending carrying Account al
measure changes Repor Repor
securi securities securities cost carrying value the Reporting ting value ing item resou
ment recorded ting ting
ties Period Perio rces
model into equity Perio Perio
d
d d
Stock 06198 Qingdao 124,405,138.80 Fair 166,225,139.77 -1,033,282.81 0 0 0 0 164,928,907.75 Held-fo Self-o
15
China Merchants Port Group Co., Ltd. The Report for the First Quarter of 2021
Port value r-tradin wned
method g
financia
l assets
Held-fo
Fair r-tradin
Qingdao Self-o
Stock 601298 331,404,250.30 value 720,160,000.00 61,600,000.00 0 0 0 0 781,760,000.00 g
Port wned
method financia
l assets
Investm
ents in
Jiangsu Fair
other Self-o
Stock 600377 Expresswa 1,120,000.00 value 10,786,800.00 0 555,000.00 0 0 0 11,526,800.00
equity wned
y method
instrum
ents
Investm
ents in
Fair
Petrochem other Self-o
Stock 400032 3,500,000.00 value 382,200.00 0 0 0 0 0 382,200.00
ical A1 equity wned
method
instrum
ents
Investm
ents in
Fair
Guang other Self-o
Stock 400009 27,500.00 value 17,000.00 0 0 0 0 0 17,000.00
Jian 1 equity wned
method
instrum
ents
Total 460,456,889.10 -- 897,571,139.77 60,566,717.19 555,000.00 0.00 0.00 0.00 958,614,907.75 -- --
2. Investments in Derivative Financial Instruments
□ Applicable √ Not applicable
No such cases in the Reporting Period.
V Progress of Projects Financed with Raised Funds
1. Funds Raised through Private Placement of Shares
Pursuant to the Reply of China Securities Regulatory Commission on the Approval of Shenzhen
Chiwan Wharf Holdings Limited Offering Shares to China Merchants Investment Development
Company Limited for Asset Acquisition and Raising the Matching Funds (ZJXK [2018] No. 1750)
16
China Merchants Port Group Co., Ltd. The Report for the First Quarter of 2021
dated 31 October 2018, the Company issued, in a private placement, a total of 128,952,746 shares
of RMB-denominated ordinary shares (A-shares) to two entities including China-Africa
Development Fund at RMB17.16/share, raising a total of RMB2,212,829,121.36 (with the net
amount after deducting issuance costs being RMB2,185,997,340.15). Following the arrival of the
aforesaid funds, BDO China Shu Lun Pan Certified Public Accountants LLP issued a Capital
Verification Report (XKSBZ [2019] No. ZI10673).
As of 31 March 2021, a total of RMB6,868,288,448.85 of raised funds have been used, including:
(1) RMB582,722,414.48 as the replacement for the self-financings that had been in advance input
into project to be financed by raised funds; (2) RMB828,734,253.16 (after the arrival of the raised
funds) for the Haixing Harbor Renovation Project (Phase II), with RMB324,533,139.29 in 2019,
RMB424,734,590.46 in 2020, and RMB79,466,523.41 in Q1 2021; (3) RMB26,831,781.21 as
issuance costs; (4) RMB4,630,000,000.00 was used for purchasing structured deposits, including
RMB1,200,000,000.00 in 2019, RMB2,650,000,000.00 in 2020, and RMB780,000,000.00 in Q1
2021; and (5) RMB800,000,000.00 was used for purchasing seven-day notice deposits, including
RMB800,000,000.00 in Q1 2021.
As of 31 March 2021, the interest income in the account of raised funds during Q1 2021 minus
service charges stood at RMB94,383.71. The income from structured deposits during Q1 2021
stood at RMB4,062,794.52. The income from seven-day notice deposits during Q1 2021 stood at
RMB33,750.00. Therefore, as of 31 March 2021, the balance in the account of raised funds
amounted to RMB809,511,260.98. The use and balance of the raised funds are as follows:
Unit: RMB
Item Amount
Opening balance of raised funds (1 January 2021) 884,786,856.16
Less: raised funds that were directly used for project to be
79,466,523.41
financed by raised funds in Q1 2021
Add: Income from structured deposits in Q1 2021 4,062,794.52
Income from seven-day notice deposits in Q1 2021 33,750.00
Net interest income from raised funds in Q1 2021 94,383.71
17
China Merchants Port Group Co., Ltd. The Report for the First Quarter of 2021
Closing balance of raised funds (31 March 2021) 809,511,260.98
2. Funds Raised through Corporate Bonds
On 7 July 2020, the Company issued RMB 2 billion of corporate bonds at the Shenzhen Stock
Exchange, with a coupon rate of 3.36% and a term of three years. The funds raised would be used to
acquire 1,606,855,919 ordinary shares in Zhanjiang Port (accounting for 27.3544% of Zhanjiang
Port’s total issued shares) from the issuer’s wholly-owned subsidiary Chiwan Wharf Holdings
(Hong Kong) Limited. As of 31 March 2021, the handover of the said equity interests has been
completed.
VI Operating Performance Forecast for January-June 2021
Warning of a forecast loss on or a forecast significant year-on-year change in the accumulative net
profit from the beginning of the year to the end of the next reporting period, as well as their
explanation.
□ Applicable √ Not applicable
VII Significant Contracts Arising from the Company’s Ordinary Course of
Business
□ Applicable √ Not applicable
VIII Cash Entrusted for Wealth Management
□ Applicable √ Not applicable
No such cases in the Reporting Period.
IX Irregularities in the Provision of Guarantees
□ Applicable √ Not applicable
No such cases in the Reporting Period.
X Occupation of the Company’s Capital by the Controlling Shareholder or any
of Its Related Parties for Non-Operating Purposes
□ Applicable √ Not applicable
18
China Merchants Port Group Co., Ltd. The Report for the First Quarter of 2021
No such cases in the Reporting Period.
XI Communications with the Investment Community such as Researches,
Inquiries and Interviews Received during the Reporting Period
Way of Type of Index to basic
Date Place communicatio communic Communication party information of
n ation party researches
China
Merchants One-on-one
22 January 2021 Institution Orient Securities
Port meeting
Building
Changjiang Securities, CICC,
Industrial Securities, Guotai Junan
Securities, CMS, Guosen
Securities, Golden Eagle Fund,
Basic business
Ping An Capital, Hwabao WP Fund
condition,
Management Co., Ltd., Yinhua
China investments and the
Fund, CICC Capital Management,
Merchants Teleconferenc financial condition
31 March 2021 Institution Green Court Capital Management
Port ing of the Company;
Limited, HighGear Capital,
Building Materials provided:
Fangyuan Tiancheng Asset
Corporate
Management, Rongyuan Dingfeng
Information;
Asset, Panpei Investment, Honghu
Index: SZSE EasyIR
Venture Capital, Yong An
(http://irm.cninfo.co
Insurance, Beijing Yingtian
m.cn/ircs/index)
Puruiming Investment
By phone, or
written
China
inquiry (the
1 January 2021 to Merchants
EasyIR Individual -
31 March 2021 Port
platform of
Building
SZSE or
email)
Times of communications 22
Number of institutions communicated with 20
Number of individuals communicated with 20
Number of other communication parties 0
Tip-offs or leakages of substantial confidential information during the communications No
19
China Merchants Port Group Co., Ltd. The Report for the First Quarter of 2021
XIII Deposits in and Loans Provided by a Finance Company
The Proposal on Signing Financial Service Agreement with Sinotrans & CSC Finance Co., Ltd. was
reviewed and approved on the 2nd Meeting of the 9th Board of Directors held by the Company on 23
August 2017, in which, the Company was agreed to signed the Financial Service Agreement with
Sinotrans & CSC Finance Co., Ltd. (renamed China Merchants Group Finance Co., Ltd. from
August 2017) with the period of three years.
The Proposal on Adjusting Limit of Deposits and Loans and Signing Supplementary Agreement to
Financial Service Agreement with China Merchants Group Finance Co., Ltd and the Related-party
Transactions was reviewed and approved on the 5th Meeting of the 9th Board of Directors held by
the Company on 28 March 2019, in which, the Company was agreed to signed Supplementary
Agreement to Financial Service Agreement with China Merchants Group Finance Co., Ltd.
The Proposal on Adjusting Limit of Deposits and Loans and Signing Supplementary Agreement II
to Financial Service Agreement with China Merchants Group Finance Co., Ltd and the
Related-party Transactions was reviewed and approved on the 4th Extraordinary General Meeting of
2019 held by the Company on 11 December 2019, in which, the Company was agreed to signed
Supplementary Agreement II to Financial Service Agreement with China Merchants Group Finance
Co., Ltd.
By the end of the Reporting Period, deposits in and loans provided by China Merchants Group
Finance Co., Ltd. were as follows:
Unit: RMB’0,000
Beginning Ending
Item Increase Decrease
balance balance
I. Deposits in China Merchants Group 156,892.42 509,394.39 467,334.49 198,952.31
Finance Co., Ltd.
II. Loans provided by China Merchants 318,498.34 125,280.37 284,598.26 159,180.45
Group Finance Co., Ltd.
20
China Merchants Port Group Co., Ltd. The Report for the First Quarter of 2021
Part IV Financial Statements
I Financial Statements
1. Consolidated Balance Sheet
Prepared by China Merchants Port Group Co., Ltd.
31 March 2021
Unit: RMB
Item 31 March 2021 31 December 2020
Current assets:
Cash and bank balances 10,160,143,564.88 11,918,423,758.71
Settlement reserve
Interbank loans granted
Held-for-trading financial assets 180,714.42 850,165,448.59
Derivative financial assets
Notes receivable 41,997,461.69 5,391,994.84
Accounts receivable 1,704,700,334.33 1,393,349,417.02
Receivables financing 190,827,141.89 217,449,966.41
Prepayments 89,149,523.26 51,217,870.43
Premiums receivable
Reinsurance receivables
Receivable reinsurance contract
reserve
Other receivables 3,865,304,696.32 3,561,292,313.98
Including: Interest receivable
Dividend receivable 525,621,580.62 258,137,208.69
Financial assets purchased under
resale agreements
Inventories 218,184,176.92 214,823,976.30
Contract assets
Assets held for sale 337,442,757.28 337,442,757.28
Non-current assets due within one
18,131,636.53 67,692,473.44
year
Other current assets 422,130,716.19 434,074,085.16
Total current assets 17,048,192,723.71 19,051,324,062.16
21
China Merchants Port Group Co., Ltd. The Report for the First Quarter of 2021
Non-current assets:
Loans and advances to customers
Investments in debt obligations
Investments in other debt obligations
Long-term receivables 3,787,933,650.86 3,887,949,993.10
Long-term equity investments 66,778,754,012.98 66,242,411,222.90
Investments in other equity
182,207,057.74 181,467,057.74
instruments
Other non-current financial assets 971,111,220.54 910,807,452.56
Investment properties 5,511,163,089.01 5,558,755,275.21
Fixed assets 28,988,433,977.60 29,479,755,159.21
Construction in progress 5,522,168,269.29 5,381,430,606.18
Productive living assets
Oil and gas assets
Right-of-use assets 9,023,085,724.80 9,087,741,812.94
Intangible assets 18,249,824,430.33 18,772,180,542.10
Development expenditure 71,515,261.68 64,237,735.23
Goodwill 6,480,381,803.18 6,675,939,930.13
Long-term prepaid expenses 869,225,574.13 874,999,735.91
Deferred tax assets 451,483,042.74 420,857,076.76
Other non-current assets 2,290,893,209.11 2,138,468,683.64
Total non-current assets 149,178,180,323.99 149,677,002,283.61
Total assets 166,226,373,047.70 168,728,326,345.77
Current liabilities:
Short-term borrowings 6,276,256,293.11 10,483,775,548.93
Borrowings from the central bank
Interbank loans obtained
Held-for-trading financial liabilities
Derivative financial liabilities
Notes payable 15,239,027.38 7,081,772.32
Accounts payable 648,506,733.50 607,972,699.59
Receipts in advance 42,174,396.12 39,510,127.90
Contract liabilities 152,072,562.52 157,442,109.67
Financial assets sold under
repurchase agreements
Customer deposits and interbank
deposits
Payables for acting trading of
22
China Merchants Port Group Co., Ltd. The Report for the First Quarter of 2021
securities
Payables for underwriting of
securities
Employee benefits payable 465,864,435.41 726,897,125.42
Taxes payable 2,351,799,140.00 2,370,258,689.99
Other payables 2,003,606,343.05 2,481,217,568.40
Including: Interest payable
Dividends payable 70,406,079.29 70,388,849.49
Handling charges and commissions
payable
Reinsurance payables
Liabilities directly associated with
assets held for sale
Non-current liabilities due within one
3,442,676,183.55 3,564,587,701.07
year
Other current liabilities 3,178,989,371.10 2,383,668,985.94
Total current liabilities 18,577,184,485.74 22,822,412,329.23
Non-current liabilities:
Insurance contract reserve
Long-term borrowings 7,481,228,287.32 7,406,322,693.81
Bonds payable 21,078,131,367.94 21,090,545,845.56
Including: Preferred shares
Perpetual bonds
Lease liabilities 1,286,629,882.92 1,327,850,984.08
Long-term payables 1,206,740,733.67 1,228,461,573.69
Long-term employee benefits
499,765,846.81 507,714,699.46
payable
Provisions 124,668,468.26 100,406,745.66
Deferred income 1,089,969,540.56 1,113,180,823.99
Deferred tax liabilities 4,434,283,894.35 4,347,553,142.73
Other non-current liabilities 2,966,050,668.53 2,982,220,894.03
Total non-current liabilities 40,167,468,690.36 40,104,257,403.01
Total liabilities 58,744,653,176.10 62,926,669,732.24
Shareholders' equity:
Share capital 1,922,365,124.00 1,922,365,124.00
Other equity instruments
Including: Preferred shares
Perpetual bonds
Capital reserve 23,106,457,826.08 22,839,598,324.56
23
China Merchants Port Group Co., Ltd. The Report for the First Quarter of 2021
Less: Treasury stock
Other comprehensive income -927,601,375.41 -826,697,303.06
Special reserve 14,823,415.07 10,201,178.30
Surplus reserves 890,690,322.28 890,690,322.28
General reserve
Unappropriated profit 12,861,987,583.54 12,329,120,098.70
Total shareholders' equity attributable to
37,868,722,895.56 37,165,277,744.78
shareholders of the parent
Minority interests 69,612,996,976.04 68,636,378,868.75
Total shareholders' equity 107,481,719,871.60 105,801,656,613.53
Total liabilities and shareholders' equity 166,226,373,047.70 168,728,326,345.77
Legal Representative: Bai Jingtao
Chief Financial Officer: Lu Yongxin
Head of Accounting Department: Sun Ligan
2. Balance Sheet of the Company as the Parent
Unit: RMB
Item 31 March 2021 31 December 2020
Current assets:
Cash and bank balances 1,406,850,120.67 753,590,556.77
Held-for-trading financial assets 800,000,000.00
Derivative financial assets
Notes receivable
Accounts receivable 293.35
Receivables financing
Prepayments 21,492.49 32,236.27
Other receivables 1,221,061,069.33 1,102,712,752.04
Including: Interest receivable
Dividend receivable 331,192,061.01 311,297,793.86
Inventories
Contract assets
Assets held for sale
Non-current assets due within one
year
Other current assets 2,943,049.81 2,574,148.83
Total current assets 2,630,876,025.65 2,658,909,693.91
Non-current assets:
Investments in debt obligations
Investments in other debt obligations
Long-term receivables 8,668,250.20 8,667,950.38
Long-term equity investments 37,375,430,815.06 37,236,798,123.55
Investments in other equity 156,350,830.00 155,610,830.00
24
China Merchants Port Group Co., Ltd. The Report for the First Quarter of 2021
instruments
Other non-current financial assets
Investment property
Fixed assets 1,425,022.05 748,147.75
Construction in progress 3,502,416.12 3,502,416.12
Productive living assets
Oil and gas assets
Right-of-use assets
Intangible assets 56,042,047.37 56,760,723.98
Development expenditure
Goodwill
Long-term prepaid expense 1,485,290.84 1,572,660.89
Deferred tax assets 1,846,793.34 1,846,793.34
Other non-current assets
Total non-current assets 37,604,751,464.98 37,465,507,646.01
Total assets 40,235,627,490.63 40,124,417,339.92
Current liabilities:
Short-term borrowings 1,501,527,777.81 2,174,486,432.93
Held-for-trading financial liabilities
Derivative financial liabilities
Notes payable
Accounts payable
Receipts in advance
Contract liabilities
Employee benefits payable 22,634,672.48 27,085,844.52
Taxes payable 207,404,308.95 208,459,425.46
Other payables 430,047,708.09 460,457,238.16
Including: Interest payable
Dividends payable 34,577,578.12 34,577,578.12
Liabilities directly associated with
assets held for sale
Non-current liabilities due within one
49,840,000.02 33,040,000.00
year
Other current liabilities 3,021,350,181.34 2,224,519,555.57
Total current liabilities 5,232,804,648.69 5,128,048,496.64
Non-current liabilities:
Long-term borrowings
Bonds payable 2,000,000,000.00 2,000,000,000.00
Including: Preferred shares
Perpetual bonds
Lease liabilities
Long-term payables
Long-term employee benefits
25
China Merchants Port Group Co., Ltd. The Report for the First Quarter of 2021
payable
Provisions
Deferred income
Deferred tax liabilities 43,604,526.51 43,419,526.51
Other non-current liabilities
Total non-current liabilities 2,043,604,526.51 2,043,419,526.51
Total liabilities 7,276,409,175.20 7,171,468,023.15
Shareholders' equity:
Share capital 1,922,365,124.00 1,922,365,124.00
Other equity instruments
Including: Preferred shares
Perpetual bonds
Capital reserves 27,596,231,353.70 27,591,847,402.73
Less: Treasury stock
Other comprehensive income 106,091,222.50 105,536,222.50
Special reserve
Surplus reserves 890,690,322.28 890,690,322.28
Unappropriated profit 2,443,840,292.95 2,442,510,245.26
Total shareholders' equity 32,959,218,315.43 32,952,949,316.77
Total liabilities and shareholders' equity 40,235,627,490.63 40,124,417,339.92
3. Consolidated Income Statement
Unit: RMB
Item Q1 2021 Q1 2020
1. Operating income 3,574,128,378.48 2,903,610,633.29
Including: Operating income 3,574,128,378.48 2,903,610,633.29
Interest income
Premium income
Handling charge and commission income
2. Costs and expenses 2,845,927,469.64 2,835,707,541.27
Including: Operating costs 2,007,544,534.80 1,876,541,599.90
Interest expense
Handling charge and commission expense
Surrenders
Net claims paid
Net amount provided as policy reserve
Expenditure on policy dividends
Reinsurance premium expense
Taxes and surcharges 41,717,436.22 37,131,946.52
Selling expense
Administrative expenses 377,820,396.13 352,018,157.94
Research and development expenses 44,463,870.59 33,163,614.88
Finance expenses 374,381,231.90 536,852,222.03
26
China Merchants Port Group Co., Ltd. The Report for the First Quarter of 2021
Including: Interest expense 434,147,689.21 492,343,508.30
Interest income 91,196,956.90 50,661,868.43
Add: Other income 26,409,425.41 35,185,254.39
Investment income (Loss is marked with "-") 1,041,036,342.43 660,216,031.98
Including: Income from investments in associates
1,036,720,640.64 639,704,971.92
and joint ventures
Income from the derecognition of
financial assets at amortized cost (Loss is marked with "-")
Foreign exchange gain (Loss is marked with "-")
Net gain on exposure hedges (Loss is marked with
"-")
Gains from changes in fair value (Loss is marked
-168,400,154.98 -188,668,882.47
with "-" )
Gains from impairment of credit (Loss is marked
-3,542,445.15 -4,005,231.54
with "-" )
Gains from impairment of assets (Loss is marked
947,693.77
with "-" )
Gains on disposal of assets (Loss is marked with "-" ) 13,401,172.17 13,807,774.32
3. Operating profit (Loss is marked with "-") 1,637,105,248.72 585,385,732.47
Add: Non-operating income 5,495,288.51 5,471,079.73
Less: Non-operating expenses 3,575,349.46 9,856,686.53
4. Gross profit (Loss is marked with "-") 1,639,025,187.77 581,000,125.67
Less: Income tax expenses 265,348,021.64 170,459,172.82
5. Net profit (Loss is marked with "-") 1,373,677,166.13 410,540,952.85
5.1 Categorization by continuity of operation
5.1.1 Net profit from continuing operation (Loss is
1,373,677,166.13 410,540,952.85
marked with "-")
5.1.2 Net profit from discontinued operation (Loss is
marked with "-")
5.2 Categorization by attribution of ownership
5.2.1 Net profit attributable to shareholders of the
532,867,484.84 149,234,067.89
parent
5.2.2 Profit or loss attributable to minority shareholders 840,809,681.29 261,306,884.96
6. Other comprehensive income, net of tax -384,544,155.52 -1,507,888,654.28
Other comprehensive income attributable to owners of the
-100,904,072.35 -504,356,543.64
parent, net of tax
6.1 Other comprehensive income that will not be
555,000.00 -105,000.00
reclassified to profit or loss
6.1.1 Changes from remeasurement of the defined
benefit plan
6.1.2 Other comprehensive income that cannot be
reclassified to profit or loss under the equity method
6.1.3 Fair value changes of investments in other equity 555,000.00 -105,000.00
27
China Merchants Port Group Co., Ltd. The Report for the First Quarter of 2021
instruments
6.1.4 Changes in the fair value of the company’s credit
risks
6.1.5 Other
6.2 Other comprehensive income that will be reclassified
-101,459,072.35 -504,251,543.64
subsequently to profit or loss
6.2.1 Other comprehensive income that can be
4,801,689.64 -82,409.78
reclassified to profit or loss under the equity method
6.2.2 Changes in the fair value of investments in other
debt obligations
6.2.3 Other comprehensive income arising from the
reclassification of financial assets
6.2.4 Allowance for credit impairments in investments
in other debt obligations
6.2.5 Reserve for cash flow hedges
6.2.6 Translation differences of financial statements
-106,260,761.99 -504,169,133.86
denominated in foreign currencies
6.2.7 Other
Other comprehensive income attributable to minority
-283,640,083.17 -1,003,532,110.64
interests, net of tax
7. Total comprehensive income attributable to 989,133,010.61 -1,097,347,701.43
Shareholders of the parent 431,963,412.49 -355,122,475.75
Minority shareholders 557,169,598.12 -742,225,225.68
8. Earnings per share
8.1 Basic earnings per share 0.28 0.08
8.2 Diluted earnings per share 0.28 0.08
Where business combinations under common control occurred in the current period, the net profit achieved by the acquirees before
the combinations was RMB-3,255,790.50, with the amount for last year being RMB-2,719,242.00.
Legal Representative: Bai Jingtao
Chief Financial Officer: Lu Yongxin
Head of Accounting Department: Sun Ligan
4. Income Statement of the Company as the Parent
Unit: RMB
Item Q1 2021 Q1 2020
1. Operating income 276.75
Less: Operating costs 566,489.90 566,489.91
Taxes and surcharges
Selling expense
Administrative expenses 28,384,928.99 19,314,560.24
Research and development expenses
28
China Merchants Port Group Co., Ltd. The Report for the First Quarter of 2021
Finance expenses 37,259,315.60 2,285,160.32
Including: Interest expense 48,483,317.00 6,212,087.86
Interest income 11,401,221.71 7,187,296.00
Add: Other income 132,571.46 329,651.83
Investment income (Loss is marked with "-") 67,407,933.97 16,645,254.11
Including: Income from investments in associates and joint ventures 39,949,365.78 6,913,473.29
Income from the derecognition of financial assets at
amortized cost (Loss is marked with "-")
Net gain on exposure hedges (Loss is marked with "-")
Gains from changes in fair value (Loss is marked with "-")
Gains from impairment of credit (Loss is marked with "-")
Gains from impairment of assets (Loss is marked with "-")
Gains on disposal of assets (Loss is marked with "-")
2. Operating profit (Loss is marked with "-") 1,330,047.69 -5,191,304.53
Add: Non-operating income
Less: Non-operating expense
3. Gross profit (Loss is marked with "-") 1,330,047.69 -5,191,304.53
Less: Income tax expenses
4. Net profit (Loss is marked with "-") 1,330,047.69 -5,191,304.53
4.1 Net profit from continuing operation (Loss is marked with "-") 1,330,047.69 -5,191,304.53
4.2 Net profit from discontinued operation (Loss is marked with "-")
5. Other comprehensive income, net of tax 555,000.00 -105,000.00
5.1 Other comprehensive income that cannot be reclassified to profit or loss 555,000.00 -105,000.00
5.1.1Changes from remeasurement of the defined benefit plan
5.1.2 Other comprehensive income that cannot be reclassified to profit or
loss under the equity method
5.1.3 Fair value changes of investments in other equity instruments 555,000.00 -105,000.00
5.1.4 Changes in the fair value of the company’s credit risks
5.1.5 Other
5.2 Other comprehensive income that will be reclassified subsequently to
profit or loss
5.2.1 Other comprehensive income that can be reclassified to profit or loss
under the equity method
5.2.2 Changes in the fair value of investments in other debt obligations
5.2.3 Other comprehensive income arising from the reclassification of
financial assets
5.2.4 Allowance for credit impairments in investments in other debt
obligations
5.2.5 Reserve for cash flow hedges
5.2.6 Translation differences of financial statements denominated in foreign
currencies
5.2.7 Other
6. Total comprehensive income 1,885,047.69 -5,296,304.53
29
China Merchants Port Group Co., Ltd. The Report for the First Quarter of 2021
7. Earnings per share
7.1 Basic earnings per share
7.2 Diluted earnings per share
5. Consolidated Cash Flow Statement
Unit: RMB
Item Q1 2021 Q1 2020
1. Cash flows from operating activities:
Cash receipts from sales of goods and rendering of services 3,264,569,109.89 2,659,399,100.04
Net increase in customer deposits and interbank deposits
Net increase in borrowings from the central bank
Net increase in loans from other financial institutions
Premiums received on original insurance contracts
Net proceeds from reinsurance
Net increase in deposits and investments of policy holders
Interest, handling charges and commissions received
Net increase in interbank loans obtained
Net increase in proceeds from repurchase transactions
Net proceeds from acting trading of securities
Receipts of tax refunds 757,301.82 686,901.98
Other cash receipts relating to operating activities 166,292,401.99 216,563,166.59
Sub-total of cash inflows 3,431,618,813.70 2,876,649,168.61
Cash payments for goods purchased and services received 923,792,637.84 819,503,885.72
Net increase in loans and advances to customers
Net increase in deposits in the central bank and in interbank loans
granted
Payments for claims on original insurance contracts
Net increase in interbank loans granted
Interest, handling charges and commissions paid
Policy dividends paid
Cash payments to and on behalf of employees 1,051,108,651.64 890,234,495.21
Payments of various types of taxes 396,738,259.71 160,849,940.31
Other cash payments relating to operating activities 179,039,071.07 177,906,963.20
Sub-total of cash outflows 2,550,678,620.26 2,048,495,284.44
Net Cash Flows from Operating Activities 880,940,193.44 828,153,884.17
2. Cash flows from investing activities:
Cash receipts from disposals and recovery of investments 1,730,000,000.00 1,092,096.82
Cash receipts from investments income 1,083,443,879.50 211,664,358.76
Net cash receipts from disposal of fixed assets, intangible assets 13,739,634.14 735,622.52
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China Merchants Port Group Co., Ltd. The Report for the First Quarter of 2021
and other long-term assets
Net cash receipts from disposal of subsidiaries and other
operating units
Other cash receipts relating to investing activities 184,258,181.77 1,601,601,419.52
Sub-total of cash inflows 3,011,441,695.41 1,815,093,497.62
Cash payments to acquire or construct fixed assets, intangible
762,007,467.39 503,148,899.07
assets and other long-term assets
Cash payments to acquire investments 977,561,289.86 2,746,841,398.03
Net increase in pledged loans granted
Net cash payments for acquisitions of subsidiaries and other
8,748,637.26
business units
Other cash payments relating to investing activities 5,967,866.95 3,792,979,774.69
Sub-total of cash outflows 1,754,285,261.46 7,042,970,071.79
Net cash flows from investing activities 1,257,156,433.95 -5,227,876,574.17
3. Cash flows from financing activities:
Cash receipts from capital contributions
Including: Cash receipts from capital contributions from
Minority shareholder of subsidiary
Cash receipts from borrowings 4,513,459,100.62 8,281,485,148.10
Other cash receipts relating to financing activities
Sub-total of cash inflows 4,513,459,100.62 8,281,485,148.10
Cash repayments of borrowings 7,886,158,730.55 3,167,336,858.98
Cash payments for distribution of dividends or profits or
519,589,430.57 647,207,743.80
settlement of interest expenses
Including: Payments for distribution of dividends or profits to
37,213,769.69 58,380,000.00
Minority shareholder of subsidiary
Other cash payments relating to financing activities 1,760,847.73 447,602,677.41
Sub-total of cash outflows 8,407,509,008.85 4,262,147,280.19
Net cash flows from financing activities -3,894,049,908.23 4,019,337,867.91
4. Effect of foreign exchange rate changes on cash and cash
-4,855,902.26 -68,824,378.45
equivalents
5. Net increase in cash and cash equivalents -1,760,809,183.10 -449,209,200.54
Add: Opening balance of Cash and Cash Equivalents 11,899,943,358.25 7,787,660,214.80
6. Closing balance of cash and cash equivalents 10,139,134,175.15 7,338,451,014.26
6. Cash Flow Statement of the Company as the Parent
Unit: RMB
Item Q1 2021 Q1 2020
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China Merchants Port Group Co., Ltd. The Report for the First Quarter of 2021
1. Cash flows from operating activities:
Cash receipts from sales of goods and rendering of services
Receipts of tax refunds
Other cash receipts relating to operating activities 8,097,981.62 67,957,173.78
Sub-total of cash inflows 8,097,981.62 67,957,173.78
Cash payments for goods purchased and services received
Cash payments to and on behalf of employees 21,684,266.19 14,948,227.54
Payments of various types of taxes 261,252.83
Other cash payments relating to operating activities 16,108,140.90 4,119,679.42
Sub-total of cash outflows 38,053,659.92 19,067,906.96
Net Cash Flows from Operating Activities -29,955,678.30 48,889,266.82
2. Cash flows from investing activities:
Cash receipts from disposals and recovery of investments 1,580,000,000.00
Cash receipts from investments income
Net cash receipts from disposal of fixed assets, intangible assets
and other long-term assets
Net cash payments for acquisitions of subsidiaries and other
business units
Other cash receipts relating to investing activities 1,120,000,000.00
Sub-total of cash inflows 1,580,000,000.00 1,120,000,000.00
Cash payments to acquire or construct fixed assets, intangible
897,916.00 600,000.00
assets and other long-term assets
Cash payments to acquire investments 877,561,289.86
Net cash payments for acquisitions of subsidiaries and other
business units
Other cash payments relating to investing activities 87,258,393.27 45,918,914.21
Sub-total of cash outflows 965,717,599.13 46,518,914.21
Net cash flows from investing activities 614,282,400.87 1,073,481,085.79
3. Cash flows from financing activities:
Cash receipts from capital contributions
Cash receipts from borrowings 2,799,840,000.00 699,482,800.00
Other cash receipts relating to financing activities
Sub-total of cash inflows 2,799,840,000.00 699,482,800.00
Cash repayments of borrowings 2,672,563,339.18 1,000,000,000.00
Cash payments for distribution of dividends or profits or 58,312,234.06 16,524,793.03
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China Merchants Port Group Co., Ltd. The Report for the First Quarter of 2021
settlement of interest expenses
Other cash payments relating to financing activities
Sub-total of cash outflows 2,730,875,573.24 1,016,524,793.03
Net cash flows from financing activities 68,964,426.76 -317,041,993.03
4. Effect of foreign exchange rate changes on cash and cash
-31,585.43 29,860.08
equivalents
5. Net increase in cash and cash equivalents 653,259,563.90 805,358,219.66
Add: Opening balance of Cash and Cash Equivalents 753,590,556.77 690,685,211.42
6. Closing balance of cash and cash equivalents 1,406,850,120.67 1,496,043,431.08
II Adjustments to the Financial Statements
1. Adjustments to the Financial Statements at the Beginning of the Initial Execution Year of
the New Standards Governing Leases from 2021
□ Applicable √ Not applicable
2. Retrospective Restatement of Previous Comparative Data due to the Initial Execution of the
New Standards Governing Leases from 2021
□ Applicable √ Not applicable
III Independent Auditor’s Report
Is this report audited?
□ Yes √ No
This report is not audited.
The Board of Directors
China Merchants Port Group Co., Ltd.
30 April 2021
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