China Merchants Port Group Co., Ltd. Interim Report 2022 (Summary)
Stock Code: 001872/201872 Stock Name: CM Port Group/CM Port Group B Announcement No. 2022-067
CHINA MERCHANTS PORT GROUP CO., LTD.
INTERIM REPORT 2022 (SUMMARY)
Part I Important Notes
This Summary is based on the full Interim Report of China Merchants Port Group Co., Ltd.
(hereinafter referred to as the “Company”). In order for a full understanding of the Company’s
operating results, financial position and future development plans, investors should carefully read
the aforesaid full report on the media designated by the China Securities Regulatory Commission
(the “CSRC”).
All the Company’s directors have attended the Board meeting for the review of this Report and its
summary.
Independent auditor’s modified opinion:
□ Applicable √ Not applicable
Board-approved interim cash and/or stock dividend plan for ordinary shareholders:
□ Applicable √ Not applicable
The Company has no interim dividend plan, either in the form of cash or stock.
Board-approved interim cash and/or stock dividend plan for preferred shareholders:
□ Applicable √ Not applicable
Note: For the meanings of the abbreviations in this Summary, please refer to the information under
the heading “Definitions” in the full Interim Report.
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 versions shall prevail.
Part II Key Corporate Information
1. Stock Profile
Stock name CM Port Group/ Stock code 001872/
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China Merchants Port Group Co., Ltd. Interim Report 2022 (Summary)
CM Port Group B 201872
Stock exchange for stock listing Shenzhen Stock Exchange
Contact information Board Secretary Securities Representative
Name Li Yubin Hu Jingjing
24/F, China Merchants Port Plaza, 24/F, China Merchants Port Plaza, 1
Office address 1 Gongye 3rd Road, Zhaoshang Gongye 3rd Road, Zhaoshang Street,
Street, Nanshan, Shenzhen, PRC Nanshan, Shenzhen, PRC
Tel. +86 755 26828888 +86 755 26828888
E-mail address Cmpir@cmhk.com Cmpir@cmhk.com
2. Key Financial Information
Indicate by tick mark whether there is any retrospectively restated datum in the table below.
□ Yes √ No
H1 2022 H1 2021 Change (%)
Operating revenue
8,150,462,367.19 7,339,942,862.26 11.04%
(RMB)
Net profit attributable
to the listed
1,981,861,324.62 1,677,035,346.17 18.18%
company’s
shareholders (RMB)
Net profit attributable
to the listed
company’s
1,920,549,245.60 1,644,696,060.97 16.77%
shareholders before
exceptional gains and
losses (RMB)
Net cash generated
from/used in operating 3,221,251,177.09 2,934,960,407.96 9.75%
activities (RMB)
Basic earnings per
1.03 0.87 18.39%
share (RMB/share)
Diluted earnings per
1.03 0.87 18.39%
share (RMB/share)
Weighted average
4.88% 4.43% 0.45%
return on equity (%)
30 June 2022 31 December 2021 Change (%)
Total assets (RMB) 182,438,574,161.08 175,984,101,168.66 3.67%
Equity attributable to
the listed company’s 41,214,899,867.01 39,801,188,662.13 3.55%
shareholders (RMB)
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China Merchants Port Group Co., Ltd. Interim Report 2022 (Summary)
3. Shareholders and Their Holdings as at the End of the Reporting Period
Unit: share
Number of preferred
31,844 (20,435
Number of ordinary shareholders shareholders with
A-shareholders and 0
resumed voting
11,409 B-shareholders)
rights (if any)
Top 10 shareholders
Nature of Shares in
Shareholdin Number of Restricted
Name of shareholder shareholde pledge or
g percentage shares shares
r frozen
CHINA MERCHANTS PORT Foreign
INVESTMENT DEVELOPMENT legal 59.75% 1,148,648,648 1,148,648,648 0
COMPANY LIMITED person
CHINA MERCHANTS State-own
GANGTONG DEVELOPMENT ed legal 19.29% 370,878,000 0 0
(SHENZHEN) CO., LTD. person
SHENZHEN INFRASTRUCTURE Funds,
INVESTMENT FUND-SHENZHEN wealth
INFRASTRUCTURE manageme
3.37% 64,850,182 0 0
INVESTMENT FUND nt
PARTNERSHIP (LIMITED products,
PARTNERSHIP) etc.
State-own
CHINA-AFRICA DEVELOPMENT
ed legal 3.33% 64,102,564 0 0
FUND
person
State-own
BROADFORD GLOBAL LIMITED ed legal 2.88% 55,314,208 0 0
person
Domestic
ZHU HUI natural 0.15% 2,923,003 0 Unknown
person
State-own
CHINA MERCHANTS
ed legal 0.13% 2,531,955 0 Unknown
SECURITIES (HK) CO., LTD.
person
Foreign
HONG KONG SECURITIES
legal 0.11% 2,162,478 0 Unknown
CLEARING COMPANY LTD.
person
Domestic
MAI SHUQING natural 0.11% 2,129,247 0 Unknown
person
ARROWSTREET EMERGING Foreign
MARKET ALPHA EXTENSION legal 0.10% 1,929,691 0 Unknown
TRUST FUND person
China Merchants Gangtong Development (Shenzhen) Co.,
Related or acting-in-concert parties among the Ltd. is a majority-owned subsidiary of Broadford Global
shareholders above Limited, and Broadford Global Limited is the controlling
shareholder of China Merchants Port Investment
Development Company Limited. The Company does not
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China Merchants Port Group Co., Ltd. Interim Report 2022 (Summary)
know whether the other unrestricted shareholders are related
parties or not.
Shareholders involved in securities margin
N/A
trading (if any)
Note: China Merchants Port Investment Development Company Limited (CMPID) was renamed from “China
Merchants Investment Development Company Limited” (CMID) on 8 July 2020.
4. Change of the Controlling Shareholder or the Actual Controller in the Reporting Period
Change of the controlling shareholder in the Reporting Period:
□ Applicable √ Not applicable
The controlling shareholder remained the same in the Reporting Period.
Change of the actual controller in the Reporting Period:
□ Applicable √ Not applicable
The actual controller remained the same in the Reporting Period.
5. Number of Preferred Shareholders and Shareholdings of Top 10 of Them
□ Applicable √ Not applicable
No preferred shareholders in the Reporting Period.
6. Outstanding Bonds at the Date when this Report Was Authorized for Issue
Does the Company have any corporate bonds publicly offered on the stock exchange, which were
outstanding before the date of this Report’s approval or were due but could not be redeemed in full?
√ Yes □ No
(1) Bond Profile
Outstanding
Coupon
Bond name Abbr. Bond code Issue date Maturity balance
rate
(RMB’0,000)
2020 Public Offering of
Corporate Bonds of
20 CMPort
China Merchants Port 149170 7 July 2020 8 July 2023 200,000 3.36%
01
Group Co., Ltd. (for
qualified investors)
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China Merchants Port Group Co., Ltd. Interim Report 2022 (Summary)
(Phase I)
(2) Relevant Financial Information as at the End of the Reporting Period
Unit: RMB’0,000
Item 30 June 2022 31 December 2021 Increase/decrease
Current ratio 82.53 75.96 8.65%
Debt/asset ratio 37.95% 36.91% 1.04%
Quick ratio 81.80 75.32 8.60%
H1 2022 H1 2021 Increase/decrease
Net profit before exceptional gains
192,054.92 164,469.61 16.77%
and losses
EBITDA/debt ratio 11.93% 12.09% -0.16%
Interest cover (times) 4.76 5.24 -9.16%
Cash-to-interest cover (times) 5.20 4.90 6.12%
EBITDA-to-interest cover (times) 7.15 7.80 -8.33%
Loan repayment ratio 100.00% 100.00% -
Interest payment ratio 100.00% 100.00% -
Part III Significant Events
1. Implementation of business plan during the reporting period
During the Reporting Period, under the circumstance of the worldwide sporadic outbreaks of the
COVID-19 pandemic and the frequent occurrence of “black swan events” such as Russia-Ukraine
Conflict, the Company still guaranteed smooth shipment, valued people's livelihood, ensured
economic growth and kept providing serving the supply chain with flexibility, safety and efficiency.
Through focusing on the endogenous growth of development of leading ports and promoting the
extension of logistics value chain with port business as its core, value-added service can be offered
to end-customers, thus enhancing comprehensive competitiveness and pushing high quality
development.
(1) Focusing on the development of leading ports and stimulating its endogenous growth. In
the first half of 2022, the container business growth of domestic terminals that the Company mainly
controls outpace the average of all coastal terminals. For the domestic homebase port, west
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China Merchants Port Group Co., Ltd. Interim Report 2022 (Summary)
Shenzhen Port Zone remained a stable container volume during the pandemic, showing its enhanced
advantage on dense shipping routes as that net addition of 15 routes was made as compared to the
same period of 2021, representing a further optimization of business structure of the terminal;
Digital Trading Centre for Global Fruits and Vegetable in Hong Kong had been officially opened,
and the Shenzhen Western Port Area, an international hub port, backed its operation to provide the
full process services of online trading platform to customer with efficiency, convenience and
standardization, continuously forging Shenzhen Western Port Area to the largest port for fruits in
South China. For the overseas homebase port, CICT handled a container throughput of 1.62 million
TEUs, increased by 7.7% year-on-year. It attracts more local containers and its market share also
climbs up, becoming an international container hub port.
(2) Facing the pandemic with science method and well prepared for supplying and assisting
Hong Kong. In respect of pandemic prevention, the Company stands its bottom-line to control the
pandemic in a smooth and orderly manner. Shenzhen Western Port Area scientifically responded to
the pandemic reoccurred in Shenzhen in March with unified planning so as to take into
consideration every aspect of a matter and implementation of accurate policies, making greatest
anti-pandemic achievement with a minimum of effort. In respect of supplying and assisting Hong
Kong, Shenzhen Western Port Area became a port which is shortest, fastest with most frequent and
largest capacity from Shenzhen to Hong Kong. In the first half of 2022, the Shipping Route for
Supply to HK of Shenzhen Western Port Area handled a total of loaded containers of 100,000 TEUs
with 1,717 shipping times, accounted for 57% of the amount of goods supplied to Hong Kong by
shipping of Shenzhen port. It ensured that the goods supply to Hong Kong unloaded and accepted in
a shortest and efficient way, achieving zero berths of barge operations and zero stock of Hong Kong
supply.
(3) Further expanding business and extending value chain. With respect of domestic business,
based on the West Shenzhen homebase port, the Company keeps strengthening the building of cargo
collection, distribution and transport system replying on Shenzhen Western Port Area. A total of 20
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China Merchants Port Group Co., Ltd. Interim Report 2022 (Summary)
coordinated ports of Combined Port Platform in the Guangdong-Hong Kong-Macao Greater Bay
Area has been put into operation and served 3,363 import and export enterprises in the area. In the
first half of 2022, over 100,000 TEUs were handled and its business scope involving seven cities
within the Greater Bay Area. With respect of oversea business, based on the port in Djibouti and
FTA platform, the Company combines its storage resources in current ports to extend port service of
“end-to-end”,launch and promote the "China-Djibouti - Africa Major regions" sea and air
combined transportation products, and complete the operation of the first cargo departing from
Shenzhen West Port Area, and then air transportation and distribution to Lagos, Nigeria via Djibouti
International Free Trade Zone on May 8. create a brand-new whole-process logistics mode China-
Africa Air and Sea Express, expand the business that can directly connect with cargo owners,
provide whole-process logistics solutions and strengthen the ability to provide comprehensive
logistics solutions for customers.
(4) Insisting on technological innovation and obtaining great achievements in smart port
construction. Mawan Intelligent Port, being as a smart port benchmarking project of China
Merchants Port, has been put into operation since June 2021, taking a lead from traditional bulk
terminals upgraded to automated terminal in China. Meanwhile, Mawan Intelligent Port owns the
largest unmanned truck fleet at a single terminal in China or even the world, including 38 5G
unmanned container trucks operated on board, and is also the first 5G+ unmanned demonstration
zone in China. As of June 2022, Mawan Intelligent Port’s shipping routes reached 58, achieving
throughput of 1,000,000 TEUs since its operation as well as a significant economic benefit. In
addition, CTOS project of the port of Thessaloniki, Greece, implemented by CMPG, a high-tech
enterprise under the Company officially launched in June, which includes over 60 operation
processes and more than 20 trading types of the port. As such, CTOS products of CMPort has fully
achieved the multi-discipline interaction within “Hong Kong- Railway Station- Free Trade Zone”
which represents a successful entry into the European market.
(5) Strengthening industry interaction and deepening comprehensive development. The
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China Merchants Port Group Co., Ltd. Interim Report 2022 (Summary)
Company continues to carry out comprehensive development business and promotes investment
attraction of the park. For overseas industrial park, Hambantota Industrial Park in Sri Lanka was
occupied by 37 contracted enterprises and successfully introduced INSEE, the cement manufacturer
who owns the biggest production scale in Sri Lanka in the first half of 2022. It has gradually formed
an industrial layout of 6+N, including household appliances, electronics and motors, rubber tires,
new energy vehicles, new materials, textile and apparel, and other industries; Djibouti Free Trade
Zone was occupied by 237 contracted enterprises. The Company created Djibouti Liaocheng
product storage centre and Djibouti "Made in Liaocheng" products online and offline exhibition
center of cross-border e-commerce with Shandong Liaocheng, which helped domestic enterprises
steadily develop foreign trade and invigorate the industrial ecology of Djibouti port and Djibouti
Free Trade Zone.
(6) Deepening management reform and empowering smart operation. The Company
comprehensively built the "digital investment port", and adapted the Smart Management Platform
(the “SMP”) in the first half of the year. The SMP is a united platform that runs through the whole
process, connects the whole scene, and docks the whole system of the enterprise, so as to achieve
comprehensive digital management of business process, and provide a one-stop operating model for
the Decision-making personnel, Management and Executive to support the management decision
based on the presentation and analysis of global business core data. The SMP adheres to the
combination of top-level design and iterative development mode, with digital technology as the key
force, and the application of smart tools to drive the transformation of means, modes and concepts
of the operation and management of CMPort.
(7) Carrying out capital operations and optimizing capital structure. In the first half of the year,
China Merchants Port, a holding subsidiary of the Company, held additional shares of 3,290 million
of SIPG. After the completion, the shareholding in SIPG held by China Merchants Port increased
from 26.64% to 28.05%, which further consolidated the Company's position as the second largest
shareholder of SIPG, so as to share the bonus of port development in Yangtze River Delta. Upon the
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China Merchants Port Group Co., Ltd. Interim Report 2022 (Summary)
completion of acquisition of 14.6% equity of Asia Airfreight Terminal (AAT) by China Merchants
Port in the first half of the year, its shareholding increased to 34.6%. AAT is one of the three air
cargo terminal operators which have concession authorized by the Airport Authority of Hong Kong.
Enlarged shareholding of AAT will help realize the synergy between the Company's terminal
business, bonded warehouse business and Hong Kong Airport business, expand the space for airport
business development, and continuously deepen the logistics supply chain layout in the
Guangdong-Hong Kong-Macao Greater Bay Area.
(3) Year-on-year Changes in Key Financial Data
Unit: RMB
Main reason for
H1 2022 H1 2021 Change (%)
change
Operating revenue 8,150,462,367.19 7,339,942,862.26 11.04% -
Operating costs 4,637,368,881.65 4,198,451,164.27 10.45% -
Administrative
812,502,660.55 766,369,973.37 6.02% -
expense
Exchange losses
increased YoY and
the measurement
method adopted for
Finance costs 1,351,945,047.67 730,109,013.88 85.17% concession royalties
liabilities of TCP
was changed to the
amortized cost
method
Income tax expense 625,643,717.42 643,438,595.12 -2.77% -
R&D investments 114,833,178.50 98,344,411.25 16.77% -
Net cash generated
from/used in 3,221,251,177.09 2,934,960,407.96 9.75% -
operating activities
YoY increase in
Net cash generated
expenditures on
from/used in -1,863,650,103.30 53,828,332.73 -3,562.21%
equity investments
investing activities
in the current period
YoY increase in net
Net cash generated
inflow of
from/used in 126,775,022.25 -5,513,332,001.73 102.30%
borrowings in the
financing activities
current period
YoY increase in net
Net increase in cash
cash generated from
and cash 1,396,165,516.30 -2,551,095,256.98 154.73%
financing activities
equivalents
in the current period
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China Merchants Port Group Co., Ltd. Interim Report 2022 (Summary)
The measurement
method adopted for
concession royalties
Gains from changes
-38,026,112.58 -488,532,866.45 92.22% liabilities of TCP
in fair value
was changed to the
amortized cost
method
2. Matters Related to Financial Reporting
(1) Changes to Accounting Policies, Accounting Estimates or Measurement Methods
Compared to the Last Accounting Period
□ Applicable √ Not applicable
(2) Retrospective Restatements due to the Correction of Material Accounting Errors in the
Reporting Period
□ Applicable √ Not applicable
No such cases.
(3) Changes to the Scope of Consolidated Financial Statements Compared to the Last
Accounting Period
During the reporting period, except for the establishment of new subsidiaries, the Company did not
have any changes in the scope of consolidation due to other reasons.
China Merchants Port Group Co., Ltd.
Board of Directors
Dated 31 August 2022
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