Report for the First Quarter of 2014－Chiwan Wharf
Stock code: 000022 /200022 Short form: Chiwan Wharf A/Chiwan Wharf B Announcement Serial No. 2014-021
Shenzhen Chiwan Wharf Holdings Limited
Report for the First Quarter of 2014
Section I. Important Reminders
I. The Board of Directors, the Supervisory Committee, directors, supervisors and senior management staff of
Shenzhen Chiwan Wharf Holdings Limited (hereinafter referred to as “the Company”) warrant that the
information carried in this report is factual, accurate and complete, without any false record, misleading
statement or material omission. And they shall be jointly and severally liable for that.
II. All Directors, Supervisors and Senior Management Staff agreed with and guaranteed the correctness,
accuracy and completeness of the contents of this Report.
III. All directors have attended the board session for reviewing this report.
IV. This quarterly Financial Statements was un-audited.
V. Chairman of the Board Mr. Zheng Shaoping, Chief Financial Officer Mr. Zhang Fang and Financial Manager
Ms. Li Li hereby announce that they guarantee the factuality, accuracy and completeness of the financial
statements enclosed in this report.
VI. This report is prepared in both Chinese and English. Should there be any understanding discrepancy between
the two versions, the Chinese version shall prevail.
Section II. Financial Highlights & Change of Shareholders
I. Financial highlights
Does the Company adjust retrospectively or restate any accounting data of previous periods?
□ Yes √ No
Jan.-Mar. 2014 Jan.-Mar. 2013 +/-
Total operating income (RMB Yuan) 404,266,553.22 412,475,925.33 -1.99%
Net profit attributable to shareholders of the parent (RMB Yuan) 106,553,992.04 130,207,443.98 -18.17%
Net profit attributable to shareholders of the parent after
104,705,247.80 129,730,049.98 -19.29%
extraordinary gains and losses (RMB Yuan)
Net cash flows from operating activities (RMB Yuan) 147,151,915.58 141,992,180.29 3.63%
Basic EPS (RMB Yuan/share) 0.165 0.202 -18.32%
Diluted EPS (RMB Yuan/share) 0.165 0.202 -18.32%
Weighted average ROE (%) 2.62% 3.47% -0.85%
31 Mar. 2014 31 Dec. 2013 +/-
Total assets (RMB Yuan) 7,437,143,338.04 7,346,529,214.70 1.23%
Total shareholder’s equity attributable to equity holders of the
4,054,847,730.82 3,947,846,392.77 2.71%
parent (RMB Yuan)
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Report for the First Quarter of 2014－Chiwan Wharf
Items and amounts of extraordinary gains and losses
√ Applicable □ Inapplicable
Item 1 Jan. 2014-31 Mar. 2014 (RMB Yuan) Explanation
Profit or loss on disposal of non-current assets -
Government grants recognized in profit or loss 3,892,446.28
Other non-operating income and expenses other than the above 69,087.88
Tax effects (808,275.42)
Minority interests effects (after tax) (1,304,514.50)
Total 1,848,744.24 --
Explain the reasons if the Company classifies an item as an extraordinary gain/loss according to the definition in
the Explanatory Announcement No. 1 on Information Disclosure for Companies Offering Their Securities to the
Public—Extraordinary Gains and Losses, or classifies any extraordinary gain/loss item mentioned in the said
explanatory announcement as a recurrent gain/loss item
□ Applicable √ Inapplicable
II. Total number of shareholders at the period-end and shareholdings of top 10 shareholders
Unit: share
Total number of shareholders at the period-end 35,971, with 27,589 being A-share holders, and 8,382 being B-share holders
Shareholdings of top 10 shareholders (all non-restricted shareholders)
Nature of
Shareholding Number of Number of Type of
shareholder
Name of shareholder percentage non-restricted pledged or shares (A, B,
(state-owned or
(%) shares held frozen shares H or other)
foreign)
CHINA NANSHAN DEVELOPMENT
32.52% 209,687,067 0 A-share
(GROUP) INC.
SHENZHEN MALAI STORAGE CO., LTD. 25% 161,190,933 0 A-share
KEEN FIELD ENTERPRISES LIMITED Foreign shareholder 8.58% 55,314,208 0 B-share
CMBLSA RE FTIF TEMPLETON ASIAN
Foreign shareholder 7.43% 47,914,954 Unknown B-share
GRW FD GTI 5496
GIC PRIVATE LIMITED Foreign shareholder 0.66% 4,275,390 Unknown B-share
EMPLOYEES PROVIDENT FUND Foreign shareholder 0.44% 2,828,270 Unknown B-share
TEMPLETON ASIAN GROWTH FUND Foreign shareholder 0.41% 2,657,852 Unknown B-share
BAYVK A2-FONDS Foreign shareholder 0.41% 2,614,089 Unknown B-share
BBH A/C VANGUARD EMERGING
Foreign shareholder 0.40% 2,595,918 Unknown B-share
MARKETS STOCK INDEX FUND
CMBNA/STICHTING PENS FND ABP Foreign shareholder 0.39% 2,504,856 Unknown B-share
China Merchants Holdings (International) Co., Ltd. (“CMHI”) was a shareholder of
China Nanshan Development (Group) Inc. (“CND Group”), Shenzhen Malai Storage
Explanation on associated relationship or
Co., Ltd. (Malai Storage) was a wholly-funded subsidiary of CMHI, and Keen Field
persons acting in concert among the
Enterprises Limited was also a wholly-funded subsidiary of CMHI. Other than that,
above-mentioned shareholders
the Company does not know whether the other non-restricted shareholders are
related parties or not.
Did any shareholder of the Company carry out an agreed buy-back in the reporting period?
□ Yes √ No
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Report for the First Quarter of 2014－Chiwan Wharf
Section III. Significant Events
I. Significant changes of the major accounting statement items and financial indicators for the
reporting period, as well as the reasons for these changes
Unit: RMB Yuan
Item Jan.-Mar. 2014 Jan.-Mar. 2013 +/- (%)
Financial expenses 20,712,863.67 11,047,426.43 87.49%
Investment gain 26,958,571.17 18,203,848.53 48.09%
Minority interests income 22,698,936.19 37,499,611.35 -39.47%
Various taxes and fares paid 39,685,744.00 27,351,801.40 45.09%
Cash payments related to other operating activities 19,992,324.71 39,351,492.04 -49.20%
Cash payments to acquire or construct fixed assets, intangible
27,783,353.64 90,259,583.05 -69.22%
assets and other long-term assets
Cash borrowings received 118,965,000.00 - -
Debt repayments in cash 118,965,000.00 5,000,000.00 2279.30%
Financial expenses increased mainly because the average interest balance of borrowings and the exchange loss
increased.
Investment gain increased mainly because the profit from joint venture and associated companies increased.
Minority interests income decreased mainly because the container throughput of non-wholly-funded subsidiaries
decreased, causing a decrease in profit of this business.
Various taxes and fares paid increased mainly because the income taxes paid in the reporting year by subsidiaries
for last year increased.
Cash payments related to other operating activities decreased mainly because the payments made on behalf of
others decreased.
Cash payments to acquire or construct fixed assets, intangible assets and other long-term assets decreased mainly
because the investments into fixed assets of Machong Wharf decreased.
Cash borrowings received and debt repayments in cash both increased mainly because new borrowings were
secured and due borrowings were repaid in the current year while there was no such event last year.
II. Progress of significant events and analysis & explanations on their influence and solutions
N/A
III. Commitments made by the Company or any shareholder with a shareholding over 5% in
the reporting period or such commitments carried down into the reporting period
Time of
Commitment Term of
Commitment Contents making Fulfillment
maker commitment
commitment
1. Commitments made by China Merchants Holdings It is promised that
Commitment in (International) about share custody; the horizontal
the acquisition 2. Commitment made by China Merchants Holdings competition issue In the
report or the CMHI (International) about guaranteeing the independency of the 17 Sept. 2012 will be solved process of
report on equity Company; through ways such execution
changes 3. Commitment made by China Merchants Holdings as asset
(International) about horizontal competition; and reorganization in
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Report for the First Quarter of 2014－Chiwan Wharf
4. Commitment made by China Merchants Holdings the coming 3-5
(International) about regulating related-party transactions years.
1. Commitment made by Malai Storage about guaranteeing
the independency of the Company; Whenever Malai
In the
2. Commitment made by Malai Storage about horizontal Storage holds the
Malai Storage 27 Dec. 2012 process of
competition; and Company’s
execution
3. Commitment made by Malai Storage about regulating shares
related-party transactions
CND Group irrevocably and unconditionally agrees that if
Chiwan Wharf suffers from any loss, expense, liability,
demanded compensation or law suit due to any actual or
20 Mar. 2001;
potential illegality or unenforceability in any land use In the
18 Jun. 2003;
CND Group agreement or relevant documents signed or to be signed by Standing process of
29 Sept. 2004
CND Group or other related problems, CND Group execution
promises to give full immunity to the recipient party of the
Other
land use right and its inheritor and the recipient person
commitments
regarding the aforesaid matters.
made to
If the Company cannot pay interest on time, pay principals
minority
upon maturity or is involved in any violation, it shall at
shareholders Whenever any of
least take the following measures:
the corporate
1. Not to distribute profit to shareholders; 26 Apr. 2012; In the
The bonds of “11
2. Suspend capital outlay projects such as significant 18 Oct. 2013 process of
Company Chiwan 01” and
outward investments or mergers; execution
“13 Chiwan 01”
3. Reduce or stop salaries and bonuses for directors and
exists
senior management staff; and
4. Not to remove the persons held chiefly responsible.
Executed in time
Yes
or not?
Specific reason
for failing to
fulfill the
Inapplicable
commitment and
plan for the next
step (if any)
IV. Predict the operating results of Jan.-Jun. 2014
Warning of possible loss or considerable YoY change of the accumulated net profit made during the period-begin
to the end of the next reporting period according to prediction, as well as explanations on the reasons:
□ Applicable √ Inapplicable
V. Securities investments
Initial Number of Closing Gain/loss for
Number of Shareholding Shareholding
Variety of Code of Name of investment shares held book value reporting Accounting
shares held at percentage at percentage at Source of stock
securities securities securities cost (RMB at (RMB period title
period-begin period-begin period-end
Yuan) period-end Yuan) (RMB Yuan)
Shares held by
legal entity,
Available-for
which is
-sale
Stock 600377 NHGS 1,120,000 1,000,000 0.02% 1,000,000 0.02% 5,310,000 - allowed for
financial
circulation
assets
after share
reform
Long-term
Shares held by
Stock 400032 SHA1 3,500,000 780,000 0.26% 780,000 0.26% 382,200 - equity
legal entity
investment
Long-term
Shares held by
Stock 400009 GJ1 27,500 20,000 0.02% 20,000 0.02% 17,000 - equity
legal entity
investment
Total 4,647,500 1,800,000 -- 1,800,000 -- 5,709,200 - -- --
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Report for the First Quarter of 2014－Chiwan Wharf
VI. Derivative investments
Derivative investments held at period-end:
□ Applicable √ Inapplicable
VII. Researches, visits and interviews received in the reporting period
Place of Main discussion and materials
Time of reception Way of reception Visitor type Visitor
reception provided by the Company
Basic information of operations
Office of the Telephone Individual and investments of the Company
Jan.-Mar. 2014 Individual
Company communication investors and the financial status of the
Company
VIII. Other
The Company’s internal control progress:
In the first quarter of 2014, according to the work plan for internal control, the Company organized and carried out
the self-evaluation of internal control. Via talks and sampling tests, and according to the previously-set evaluation
standards, the office evaluated the defects found, prepared a defect evaluation summary sheet, and then offered
their rectification advice. It then, according to the results of its aforesaid work, prepared the 2013 annual internal
control self-evaluation report, which was later disclosed upon review and approval at the 7th Session of the 7th
Board of Directors and the 7th Session of the 7th Supervisory Committee.
The Company engaged Deloitte Touche Tohmatsu Certified Public Accountants LLP to audit the effectiveness of
its 2013 financial reporting internal control. A standard auditor’s report with unqualified opinion was issued by
DDT and later disclosed by the Company.
Currently, the Company is filing internal control documents of previous periods and solidifying the internal
control achievements. It is also renewing members of the internal control task groups and working on the internal
control work plan for 2014 to prepare for internal control activities in 2014.
The Company has completed the internal control work according to the schedule in the internal control work plan
for 2013, with no difference or delay.
For and on behalf of the Board
Mr. Zheng Shaoping
Chairman
Shenzhen Chiwan Wharf Holdings Limited
Dated 25 April 2014
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