China Merchants Port Group Co., Ltd. The Report for the First Quarter of 2023
Stock Code: 001872/201872 Stock Name: CM Port Group/CM Port Group B Announcement No. 2023-038
CHINA MERCHANTS PORT GROUP CO., LTD.
THE REPORT FOR THE FIRST QUARTER OF 2023
China Merchants Port Group Co., Ltd. (hereinafter referred to as the “Company”) and all the
members of the Company’s Board of Directors hereby guarantee that the contents of this Report
are factual, accurate and complete and free of any misrepresentations, misleading statements or
material omissions.
Important Notes:
1. The Board of Directors (or the “Board”), the Supervisory Committee as well as the directors, supervisors and
senior management of the Company hereby guarantee the factuality, accuracy and completeness of the contents of
this Report, and shall be jointly and severally liable for any misrepresentations, misleading statements or material
omissions therein.
2. Wang Xiufeng, the Company’s legal representative, Tu Xiaoping, the Company’s Chief Financial Officer and
Huang Shengchao, the person-in-charge of the accounting organ hereby guarantee that the financial statements
carried in this Report are factual, accurate and complete.
3. Indicate by tick mark whether the financial statements herein have been audited by an independent auditor.
□Yes √ No
4. Securities Times, China Securities Journal, Shanghai Securities News, Ta Kung Pao (HK) and
http://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.
This Report has been prepared in both Chinese and English. Should there be any discrepancies or
misunderstandings between the two versions, the Chinese version shall prevail.
I Key Financial Information
(I) Key Accounting Data and Financial Indicators
Indicate by tick mark whether there is any retrospectively restated datum in the table below.
√ Yes □ No
Reason: Changes to Accounting Policies
On 30 November 2022, the Ministry of Finance issued the Interpretation No. 16 for the Accounting Standards for
Business Enterprises, according to which "the accounting treatments for deferred income tax relating to assets and
liabilities arising from a single transaction that is not subject to the initial recognition exemption" is effective from
1 January 2023. In accordance with the aforesaid regulations, the Company has implemented the Interpretation No.
16 with effect from 1 January 2023.
1
China Merchants Port Group Co., Ltd. The Report for the First Quarter of 2023
Q1 2022
Q1 2023 YoY change (%)
Original Restated
Operating revenue (RMB) 3,693,584,257.97 4,020,203,113.25 4,020,203,113.25 -8.12%
Net profit attributable to the
listed company’s 850,039,606.18 859,493,121.60 859,730,734.43 -1.13%
shareholders (RMB)
Net profit attributable to the
listed company’s
shareholders before 724,465,592.72 838,801,864.90 839,039,477.73 -13.66%
exceptional gains and
losses (RMB)
Net cash generated
from/used in operating 699,050,929.84 999,264,265.35 999,264,265.35 -30.04%
activities (RMB)
Basic earnings per share
0.34 0.45 0.45 -24.44%
(RMB/share)
Diluted earnings per share
0.34 0.45 0.45 -24.44%
(RMB/share)
Weighted average return on
1.55% 2.13% 2.12% -0.57%
equity (%)
31 December 2022
31 March 2023 Change (%)
Original Restated
Total assets (RMB) 198,600,787,660.07 197,525,530,887.76 197,604,313,794.79 0.50%
Equity attributable to the
listed company’s 55,269,089,877.11 54,267,143,304.02 54,298,170,520.73 1.79%
shareholders (RMB)
The total share capital at the end of the last trading session before the disclosure of this Report:
Total share capital at the end of the last trading session
2,499,074,661
before the disclosure of this Report (share)
Fully diluted earnings per share based on the latest total share capital above:
Fully diluted earnings per share based on the latest total
0.3401
share capital above (RMB/share)
(II) Exceptional Gains and Losses
Unit: RMB
Item Q1 2023 Note
2
China Merchants Port Group Co., Ltd. The Report for the First Quarter of 2023
Gain or loss on disposal of non-current assets (inclusive of
-1,364,122.56 -
impairment allowance write-offs)
Government subsidies charged to current profit or loss
(exclusive of government subsidies continually given in
the Company’s ordinary course of business at fixed quotas 22,757,046.38 -
or amounts as per the government’s policies and
standards)
Capital occupation charges on non-financial enterprises
54,840,916.11 -
that are charged to current profit or loss
Gain or loss on fair-value changes in held-for-trading
financial assets and liabilities & income from disposal of
held-for-trading financial assets and liabilities and
109,115,343.13 -
available-for-sale financial assets (exclusive of the
effective portion of hedges that arise in the Company’s
ordinary course of business)
Reversed portions of impairment allowances for
8,150,646.77 -
receivables which are tested individually for impairment
Non-operating income and expense other than the above -3,575,218.52 -
Less: Income tax effects 37,706,922.19 -
Non-controlling interests effects (net of tax) 26,643,675.66 -
Total 125,574,013.46
Other items that meet the definition of exceptional gain/loss:
□ Applicable √ Not applicable
No such cases.
Explanation of why the Company reclassifies as recurrent an exceptional gain/loss item 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
No such cases.
(III) Changes in Key Financial Statement Line Items and Their Explanation
Unit: RMB
Change
Balance sheet items 31 March 2023 31 December 2022 Explanation of changes
(%)
Held-for-trading Mainly due to increased
4,459,125,415.79 2,998,781,599.63 48.70%
financial assets structured deposits
Mainly due to increased
Notes receivable 246,712,652.99 36,395,000.00 577.88%
bank acceptance notes
Mainly due to impacts of
Accounts receivable 1,685,727,787.00 1,276,149,689.44 32.09% the payment collection
periods
Mainly due to impacts of
Receivables financing - 163,766,913.10 -100.00%
discounted bank
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China Merchants Port Group Co., Ltd. The Report for the First Quarter of 2023
acceptance notes and
payment collection upon
maturity
Income statement Change
Q1 2023 Q1 2022 Explanation of changes
items (%)
Mainly due to increased
gains from changes in the
Gains from changes in
109,115,343.13 -28,601,507.19 481.50% fair value of
fair value
held-for-trading financial
assets
Cash flow statement Change
Q1 2023 Q1 2022 Explanation of changes
items (%)
Mainly due to decreased
Cash receipts from
principals of structured
disposals and recovery 4,687,000,000.00 16,908,644,162.50 -72.28%
deposits that were
of investments
received
Mainly due to decreased
Cash payments to principals of structured
6,142,654,969.50 16,688,874,317.28 -63.19%
acquire investments deposits that were
purchased
Mainly due to decreased
Cash receipts from super-short-term
3,525,239,878.65 9,466,988,902.00 -62.76%
borrowings commercial papers that
were issued
Mainly due to decreased
repayments of
Cash repayments of
3,402,675,379.90 6,229,427,431.03 -45.38% super-short-term
borrowings
commercial papers and
bank loans
II Shareholder Information
(I) Numbers of Ordinary Shareholders and Preferred Shareholders with Resumed Voting
Rights as well as Holdings of Top 10 Shareholders
Unit: share
29,398
Number of ordinary Number of preferred shareholders with resumed
(18,191 A-shareholders, 0
shareholders voting rights (if any)
11,207 B-shareholders)
Top 10 shareholders
Nature of Shareh Total shares Restricted Shares in pledge, marked or
Name of shareholder
sharehold olding held shares held frozen
4
China Merchants Port Group Co., Ltd. The Report for the First Quarter of 2023
er percent
Status Shares
age
CHINA MERCHANTS PORT Foreign
INVESTMENT DEVELOPMENT legal 45.96% 1,148,648,648 0 - 0
COMPANY LIMITED person
ZHEJIANG PROVINCIAL State-own
SEAPORT INVESTMENT & ed legal 23.08% 576,709,537 576,709,537 - 0
OPERATION GROUP CO., LTD. person
CHINA MERCHANTS State-own
GANGTONG DEVELOPMENT ed legal 14.84% 370,878,000 0 - 0
(SHENZHEN) CO., LTD. person
SHENZHEN INFRASTRUCTURE
Funds,
INVESTMENT FUND-SHENZHEN
wealth
INFRASTRUCTURE
managem 2.59% 64,850,182 0 - 0
INVESTMENT FUND
ent
PARTNERSHIP (LIMITED
products
PARTNERSHIP)
State-own
CHINA-AFRICA DEVELOPMENT
ed legal 2.57% 64,102,564 0 - 0
FUND
person
State-own
BROADFORD GLOBAL LIMITED ed legal 2.21% 55,314,208 0 - Unknown
person
CHINA CITIC BANK
CORPORATION Funds,
LIMITED-BOCOM SCHRODERS wealth
NEW VITALITY DYNAMIC managem 0.26% 6,430,236 0 - Unknown
ASSET ALLOCATION MIXED ent
SECURITIES INVESTMENT products
FUND
Foreign
HONG KONG SECURITIES
legal 0.12% 3,096,947 0 - Unknown
CLEARING COMPANY LTD.
person
Domestic
ZHU HUI natural 0.12% 2,880,003 0 - Unknown
person
Foreign
CHINA MERCHANTS
legal 0.11% 2,648,138 0 - Unknown
SECURITIES (HK) CO., LTD.
person
Top 10 unrestricted shareholders
Name of shareholder Unrestricted shares held Shares by type
5
China Merchants Port Group Co., Ltd. The Report for the First Quarter of 2023
Type Shares
CHINA MERCHANTS PORT INVESTMENT RMB ordinary
1,148,648,648 1,148,648,648
DEVELOPMENT COMPANY LIMITED share
CHINA MERCHANTS GANGTONG RMB ordinary
370,878,000 370,878,000
DEVELOPMENT (SHENZHEN) CO., LTD. share
SHENZHEN INFRASTRUCTURE
INVESTMENT FUND-SHENZHEN RMB ordinary
64,850,182 64,850,182
INFRASTRUCTURE INVESTMENT FUND share
PARTNERSHIP (LIMITED PARTNERSHIP)
RMB ordinary
CHINA-AFRICA DEVELOPMENT FUND 64,102,564 64,102,564
share
Domestically
BROADFORD GLOBAL LIMITED 55,314,208 listed foreign 55,314,208
share
CHINA CITIC BANK CORPORATION
LIMITED-BOCOM SCHRODERS NEW RMB ordinary
6,430,236 6,430,236
VITALITY DYNAMIC ASSET ALLOCATION share
MIXED SECURITIES INVESTMENT FUND
HONG KONG SECURITIES CLEARING RMB ordinary
3,096,947 3,096,947
COMPANY LTD. share
RMB ordinary
ZHU HUI 2,880,003 2,880,003
share
Domestically
CHINA MERCHANTS SECURITIES (HK) CO.,
2,648,138 listed foreign 2,648,138
LTD.
share
RMB ordinary
MAI SHUQING 1,874,947 1,874,947
share
Broadford Global Limited is the controlling shareholder of China Merchants Port Investment
Related or acting-in-concert
Development Company Limited and China Merchants Gangtong Development (Shenzhen) Co.,
parties among the shareholders
Ltd. The Company does not know whether the other unrestricted shareholders are related parties
above
or not.
Top 10 shareholders engaged in
N/A
securities margin trading (if any)
(II) Number of Preferred Shareholders and Shareholdings of Top 10 of Them
□ Applicable √ Not applicable
III Other Significant Events
□ Applicable √ Not applicable
6
China Merchants Port Group Co., Ltd. The Report for the First Quarter of 2023
IV Quarterly Financial Statements
(I) Financial Statements
1. Consolidated Balance Sheet
Prepared by China Merchants Port Group Co., Ltd.
31 March 2023
Unit: RMB
Item 31 March 2023 1 January 2023
Current assets:
Cash and bank balances 12,303,314,799.46 13,615,928,739.40
Settlement reserve
Interbank loans granted
Held-for-trading financial assets 4,459,125,415.79 2,998,781,599.63
Derivative financial assets
Notes receivable 246,712,652.99 36,395,000.00
Accounts receivable 1,685,727,787.00 1,276,149,689.44
Receivables financing 163,766,913.10
Prepayments 70,427,025.03 63,627,425.42
Premiums receivable
Reinsurance receivables
Receivable reinsurance contract
reserve
Other receivables 1,170,056,768.49 948,842,094.30
Including: Interest receivable
Dividend receivable 609,209,224.04 416,040,485.62
Financial assets purchased under
resale agreements
Inventories 242,994,121.36 225,122,821.48
Contract assets
Assets held for sale
Non-current assets due within one year 850,911,074.16 902,225,293.93
Other current assets 193,385,491.31 185,903,140.53
Total current assets 21,222,655,135.59 20,416,742,717.23
Non-current assets:
Loans and advances to customers
7
China Merchants Port Group Co., Ltd. The Report for the First Quarter of 2023
Investments in debt obligations
Investments in other debt obligations
Long-term receivables 5,617,429,169.49 5,661,327,499.07
Long-term equity investments 93,142,161,218.98 92,364,293,919.05
Investments in other equity
171,945,275.02 171,945,275.02
instruments
Other non-current financial assets 1,825,784,236.41 1,745,740,896.41
Investment properties 5,078,723,082.96 5,123,690,119.56
Fixed assets 31,672,908,906.91 32,033,326,083.50
Construction in progress 2,464,228,985.85 2,413,844,407.64
Productive living assets
Oil and gas assets
Right-of-use assets 9,173,095,661.96 9,342,642,222.33
Intangible assets 19,183,419,167.08 19,277,065,115.61
Development expenditure 13,120,478.53 17,412,196.16
Goodwill 6,448,739,235.22 6,411,426,891.09
Long-term prepaid expenses 968,960,172.05 986,356,904.90
Deferred tax assets 433,911,215.96 451,710,168.43
Other non-current assets 1,183,705,718.06 1,186,789,378.79
Total non-current assets 177,378,132,524.48 177,187,571,077.56
Total assets 198,600,787,660.07 197,604,313,794.79
Current liabilities:
Short-term borrowings 6,457,871,100.32 7,164,338,366.18
Borrowings from the central bank
Interbank loans obtained
Held-for-trading financial liabilities
Derivative financial liabilities
Notes payable
Accounts payable 659,724,322.27 811,149,397.66
Receipts in advance 13,518,159.74 9,886,531.59
Contract liabilities 133,240,712.79 141,899,551.03
Financial assets sold under repurchase
agreements
Customer deposits and interbank
deposits
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China Merchants Port Group Co., Ltd. The Report for the First Quarter of 2023
Payables for acting trading of
securities
Payables for underwriting of securities
Employee benefits payable 590,230,462.57 936,834,718.13
Taxes payable 957,160,598.91 917,933,169.09
Other payables 1,875,936,638.82 1,755,885,258.26
Including: Interest payable
Dividends payable 275,643,677.79 92,374,921.29
Handling charges and commissions
payable
Reinsurance payables
Liabilities directly associated with
assets held for sale
Non-current liabilities due within one
11,363,621,116.77 11,641,223,688.95
year
Other current liabilities 3,153,298,331.94 3,161,147,525.96
Total current liabilities 25,204,601,444.13 26,540,298,206.85
Non-current liabilities:
Insurance contract reserve
Long-term borrowings 13,331,788,460.38 12,390,099,177.85
Bonds payable 18,948,133,988.72 19,088,293,099.02
Including: Preferred shares
Perpetual bonds
Lease liabilities 900,685,688.08 948,350,914.04
Long-term payables 3,605,970,588.10 3,551,315,590.31
Long-term employee benefits payable 630,909,242.99 639,095,931.43
Provisions 40,845,351.20 35,365,156.43
Deferred income 1,028,327,499.02 1,031,273,189.74
Deferred tax liabilities 4,933,657,960.25 4,855,047,609.59
Other non-current liabilities 178,359,757.34 186,383,117.00
Total non-current liabilities 43,598,678,536.08 42,725,223,785.41
Total liabilities 68,803,279,980.21 69,265,521,992.26
Shareholders' equity:
Share capital 2,499,074,661.00 2,499,074,661.00
Other equity instruments
Including: Preferred shares
9
China Merchants Port Group Co., Ltd. The Report for the First Quarter of 2023
Perpetual bonds
Capital reserve 34,846,694,340.27 34,751,640,835.25
Less: Treasury stock
Other comprehensive income -673,519,217.07 -689,026,445.74
Special reserve 36,677,276.48 26,358,259.97
Surplus reserves 1,001,917,449.15 1,001,917,449.15
General reserve
Unappropriated profit 17,558,245,367.28 16,708,205,761.10
Total shareholders' equity attributable to
55,269,089,877.11 54,298,170,520.73
shareholders of the parent
Minority interests 74,528,417,802.75 74,040,621,281.80
Total shareholders' equity 129,797,507,679.86 128,338,791,802.53
Total liabilities and shareholders' equity 198,600,787,660.07 197,604,313,794.79
Legal Representative: Wang Xiufeng
Chief Financial Officer: Tu Xiaoping
Head of Accounting Department: Huang Shengchao
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China Merchants Port Group Co., Ltd. The Report for the First Quarter of 2023
2. Consolidated income statement for Q1
Unit: RMB
Item Q1 2023 Q1 2022
1. Operating income 3,693,584,257.97 4,020,203,113.25
Including: Operating income 3,693,584,257.97 4,020,203,113.25
Interest income
Premium income
Handling charge and commission income
2. Costs and expenses 3,256,430,499.35 3,257,382,937.14
Including: Operating costs 2,166,281,506.75 2,257,298,794.24
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 67,797,717.75 70,163,530.02
Selling expense
Administrative expenses 390,562,146.01 392,572,623.71
Research and development expenses 69,022,878.81 52,342,387.05
Finance expenses 562,766,250.03 485,005,602.12
Including: Interest expense 556,633,136.12 557,552,810.49
Interest income 118,478,939.42 95,418,037.96
Add: Other income 30,192,445.16 37,313,921.78
Investment income (Loss is marked with "-") 1,510,612,568.31 1,700,408,075.14
Including: Income from investments in
1,496,344,186.35 1,632,844,747.42
associates 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 109,115,343.13 -28,601,507.19
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China Merchants Port Group Co., Ltd. The Report for the First Quarter of 2023
with "-" )
Gains from impairment of credit (Loss is marked
8,422,477.29 -592,423.11
with "-" )
Gains from impairment of assets (Loss is marked
with "-" )
Gains on disposal of assets (Loss is marked with
-180,393.80 -212,878.09
"-" )
3. Operating profit (Loss is marked with "-") 2,095,316,198.71 2,471,135,364.64
Add: Non-operating income 10,147,277.67 5,208,084.73
Less: Non-operating expenses 14,882,144.37 3,571,426.77
4. Gross profit (Loss is marked with "-") 2,090,581,332.01 2,472,772,022.60
Less: Income tax expenses 286,862,164.52 303,858,270.29
5. Net profit (Loss is marked with "-") 1,803,719,167.49 2,168,913,752.31
5.1 Categorization by continuity of operation
5.1.1 Net profit from continuing operation (Loss is
1,803,719,167.49 2,168,913,752.31
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 owners of the parent 850,039,606.18 859,730,734.43
5.2.2 Profit or loss attributable to minority
953,679,561.31 1,309,183,017.88
shareholders
6. Other comprehensive income, net of tax -37,702,507.44 667,635,517.56
Other comprehensive income attributable to owners of
15,507,228.67 412,712,444.14
the parent, net of tax
6.1 Other comprehensive income that will not be
277,536.18 -101,330.09
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
277,536.18
reclassified to profit or loss under the equity method
6.1.3 Fair value changes of investments in other
-101,330.09
equity 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
15,229,692.49 412,813,774.23
reclassified subsequently to profit or loss
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China Merchants Port Group Co., Ltd. The Report for the First Quarter of 2023
6.2.1 Other comprehensive income that can be
6,647,720.36 6,527,928.11
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
8,581,972.13 406,285,846.12
denominated in foreign currencies
6.2.7 Other
Other comprehensive income attributable to minority
-53,209,736.11 254,923,073.42
interests, net of tax
7. Total comprehensive income attributable to 1,766,016,660.05 2,836,549,269.87
Shareholders of the parent 865,546,834.85 1,272,443,178.57
Minority shareholders 900,469,825.20 1,564,106,091.30
8. Earnings per share
8.1 Basic earnings per share 0.34 0.45
8.2 Diluted earnings per share 0.34 0.45
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China Merchants Port Group Co., Ltd. The Report for the First Quarter of 2023
3. Consolidated Cash Flow Statement for Q1
Unit: RMB
Item Q1 2023 Q1 2022
1. Cash flows from operating activities:
Cash receipts from sales of goods and
3,194,833,274.62 3,599,371,273.07
rendering of services
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 929,828.08 1,001,300.35
Other cash receipts relating to
220,128,477.02 244,231,744.88
operating activities
Sub-total of cash inflows 3,415,891,579.72 3,844,604,318.30
Cash payments for goods purchased
1,032,226,057.61 1,122,144,087.79
and services received
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
14
China Merchants Port Group Co., Ltd. The Report for the First Quarter of 2023
Net increase in interbank loans granted
Interest, handling charges and
commissions paid
Policy dividends paid
Cash payments to and on behalf of
1,218,416,516.71 1,130,909,192.25
employees
Payments of various types of taxes 261,077,771.59 391,860,341.00
Other cash payments relating to
205,120,303.97 200,426,431.91
operating activities
Sub-total of cash outflows 2,716,840,649.88 2,845,340,052.95
Net Cash Flows from Operating
699,050,929.84 999,264,265.35
Activities
2. Cash flows from investing activities:
Cash receipts from disposals and
4,687,000,000.00 16,908,644,162.50
recovery of investments
Cash receipts from investments
291,354,548.85 90,541,536.09
income
Net cash receipts from disposal of
fixed assets, intangible assets and other 831,486.80 56,999.00
long-term assets
Net cash receipts from disposal of
subsidiaries and other operating units
Other cash receipts relating to investing
86,434,571.88 92,386,492.18
activities
Sub-total of cash inflows 5,065,620,607.53 17,091,629,189.77
Cash payments to acquire or construct
fixed assets, intangible assets and other 309,707,402.32 542,182,983.32
long-term assets
Cash payments to acquire investments 6,142,654,969.50 16,688,874,317.28
Net increase in pledged loans granted
Net cash payments for acquisitions of
subsidiaries and other business units
Other cash payments relating to investing
479,015.65 9,373,443.62
activities
Sub-total of cash outflows 6,452,841,387.47 17,240,430,744.22
Net cash flows from investing activities -1,387,220,779.94 -148,801,554.45
3. Cash flows from financing activities:
15
China Merchants Port Group Co., Ltd. The Report for the First Quarter of 2023
Cash receipts from capital
contributions
Including: Cash receipts from capital
contributions from Minority shareholder
of subsidiary
Cash receipts from borrowings 3,525,239,878.65 9,466,988,902.00
Other cash receipts relating to
87,673.99
financing activities
Sub-total of cash inflows 3,525,327,552.64 9,466,988,902.00
Cash repayments of borrowings 3,402,675,379.90 6,229,427,431.03
Cash payments for distribution of
dividends or profits or settlement of 560,837,707.69 484,875,519.45
interest expenses
Including: Payments for distribution of
dividends or profits to Minority 37,092,850.00 2,881,000.00
shareholder of subsidiary
Other cash payments relating to
159,647,710.20 57,936,905.74
financing activities
Sub-total of cash outflows 4,123,160,797.79 6,772,239,856.22
Net cash flows from financing activities -597,833,245.15 2,694,749,045.78
4. Effect of foreign exchange rate
-15,139,218.75 -25,315,406.26
changes on cash and cash equivalents
5. Net increase in cash and cash
-1,301,142,314.00 3,519,896,350.42
equivalents
Add: Opening balance of Cash and
13,567,309,471.62 12,727,355,238.36
Cash Equivalents
6. Closing balance of cash and cash
12,266,167,157.62 16,247,251,588.78
equivalents
16
China Merchants Port Group Co., Ltd. The Report for the First Quarter of 2023
4. Retrospectively Restated Impact of Changes in Accounting Policies
On 30 November 2022, the Ministry of Finance issued the Interpretation No. 16 for the Accounting Standards for
Business Enterprises, according to which "the accounting treatments for deferred income tax relating to assets and
liabilities arising from a single transaction that is not subject to the initial recognition exemption" is effective from
1 January 2023. In accordance with the aforesaid regulations, the Company has implemented the Interpretation No.
16 with effect from 1 January 2023. The specific impact of the implementation interpretation on the financial
statements of the Company in 2022 is as follows:
Unit: RMB
Original Retrospectively Restated Restated (Unaudited)
Report Item
31 December 2022 Amount 1 January 2023
Assets：
Deferred tax assets 372,927,261.40 78,782,907.03 451,710,168.43
liabilities：
Deferred tax liabilities 4,853,271,307.86 1,776,301.73 4,855,047,609.59
Shareholders' equity：
Other comprehensive income -691,536,248.44 2,509,802.70 -689,026,445.74
Unappropriated profit 16,679,688,347.09 28,517,414.01 16,708,205,761.10
Total shareholders' equity
attributable to shareholders of the 54,267,143,304.02 31,027,216.71 54,298,170,520.73
parent
Minority interests 73,994,641,893.21 45,979,388.59 74,040,621,281.80
Original Retrospectively Restated Restated (Unaudited)
Report Item
Q1 2022 Amount Q1 2022
Profit or loss：
Income tax expenses 304,563,099.35 -704,829.06 303,858,270.29
Net profit 2,168,208,923.25 704,829.06 2,168,913,752.31
Net profit attributable to owners of
859,493,121.60 237,612.83 859,730,734.43
the parent
Profit or loss attributable to
1,308,715,801.65 467,216.23 1,309,183,017.88
minority shareholders
17
China Merchants Port Group Co., Ltd. The Report for the First Quarter of 2023
(II) Independent Auditor’s Report
Indicate by tick mark whether the financial statements above have been audited by an independent auditor.
□Yes √ No
These financial statements have not been audited by such an auditor.
The Board of Directors
China Merchants Port Group Co., Ltd.
29 April 2023
18
