The Report for the First Quarter of 2018－Shenzhen Chiwan Wharf Holdings Limited
Shenzhen Chiwan Wharf Holdings Limited
The Report for the First Quarter of 2018
Disclosed on 27 April 2018
The Report for the First Quarter of 2018－Shenzhen Chiwan Wharf Holdings Limited
Section I Important Statements
The Board of Directors, Supervisory Committee, directors, supervisors and senior management of
Shenzhen Chiwan Wharf Holdings Limited (hereinafter referred to as the “Company”) hereby
guarantee that the information presented in this Report is factual, accurate and complete, and shall
be jointly and severally liable for any false information, misleading statements or material
omissions carried in this Report.
All directors attended the board meeting for the review of this Report.
Board Chairman Bai Jingtao, Chief Financial Officer Yao Shenglan and Financial Manager Li
Xiaopeng hereby guarantee the factuality, accuracy and completeness of the Financial Report in this
Report.
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.
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The Report for the First Quarter of 2018－Shenzhen Chiwan Wharf Holdings Limited
Section II Company Profile
I Key financial results
Whether the Company performed any retroactive adjustments to or restatement of its accounting data
√ Yes □ No
Unit: RMB
January-March 2018 January-March 2017 +/-%
Operating revenues (RMB) 615,757,667.14 590,462,575.45 4.28%
Net profit attributable to shareholders of
146,662,116.72 138,193,456.79 6.13%
the Company (RMB)
Net profit attributable to shareholders of
the Company before exceptional profit and 147,400,980.09 137,529,057.95 7.18%
loss (RMB)
Net operating cash flow (RMB) 105,464,496.51 327,701,479.55 -67.82%
Basic earnings per share (RMB/share) 0.227 0.214 6.07%
Diluted earnings per share (RMB/share) 0.227 0.214 6.07%
Weighted average return on equity (%) 2.91% 2.88% 0.03%
31 March 2018 31 December 2017 +/-%
Total assets (RMB) 8,147,257,790.54 7,975,470,563.32 2.15%
Net assets attributable to shareholders of
4,313,532,059.53 4,922,969,405.92 -12.38%
the Company (RMB)
Reason for retroactive adjustments or restatement:
Business combination under the same control, see “Section III Significant Events-II Progress of significant events and analysis &
explanations on their influence and solutions” for details.
Unit: RMB
January-March 2017 +/-%
January-March 2018
Before After After
Operating revenues (RMB) 615,757,667.14 468,384,678.35 590,462,575.45 4.28%
Net profit attributable to shareholders of
146,662,116.72 138,844,490.95 138,193,456.79 6.13%
the Company (RMB)
Net profit attributable to shareholders of
the Company before exceptional profit and 147,400,980.09 138,192,368.56 137,529,057.95 7.18%
loss (RMB)
Net operating cash flow (RMB) 105,464,496.51 246,485,777.68 327,701,479.55 -67.82%
Basic earnings per share (RMB/share) 0.227 0.215 0.214 6.07%
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The Report for the First Quarter of 2018－Shenzhen Chiwan Wharf Holdings Limited
Diluted earnings per share (RMB/share) 0.227 0.215 0.214 6.07%
Weighted average return on equity (%) 2.91% 2.90% 2.88% 0.03%
Exceptional profit and loss
√ Applicable □ Not applicable
Unit: RMB
Item January-March 2018 Note
Profit/loss on disposal of non-current assets (including offset asset
-652,653.98
impairment provisions)
Government subsidies charged to the profit/loss for this Reporting
Period (except for the government grants closely related to the
524,620.38
business of the Company and given at a fixed quota or amount in
accordance with the State’s uniform standards)
Non-operating income and expense other than the above 150,022.25
Less: Corporate income tax 236,866.95
Minority interests (after tax) 523,985.07
Total -738,863.37 --
Explanation of why the Company classified an item as exceptional profit/loss according to the definition in the Explanatory
Announcement No. 1 on Information Disclosure for Companies Offering Their Securities to the Public—Exceptional Profit and Loss,
or reclassified any exceptional profit/loss item given as an example in the said explanatory announcement to recurrent profit/loss
□ Applicable √ Not applicable
II Total number of shareholders at the period-end and shareholdings of top ten shareholders
1. Numbers of common shareholders and preference shareholders with resumed voting rights as well as
shareholdings of top ten shareholders
Unit: share
Total number of common 35,591 (including 25,133 A-shareholders and Total number of preference
shareholders at the shareholders with resumed voting 0
period-end 10,458 B-shareholders) rights at the period-end
Shareholdings of top ten shareholders (all non-restricted shareholders)
Shareholding Number of Type of share Number of
Nature of
Name of shareholder percentage non-restricted shares (A, B, H or pledged or
shareholder
(%) held others) frozen shares
CHINA NANSHAN DEVELOPMENT State-owned
32.52% 209,687,067 A share 0
(GROUP) INC. corporation
Domestic
SHENZHEN MALAI STORAGE CO., LTD. non-state-owned 25.00% 161,190,933 A share 0
corporation
Foreign
KEEN FIELD ENTERPRISES LIMITED 8.58% 55,314,208 B share Unknown
corporation
CMBLSA RE FTIF TEMPLETON ASIAN Foreign
7.43% 47,914,954 B share Unknown
GRW FD GTI 5496 corporation
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The Report for the First Quarter of 2018－Shenzhen Chiwan Wharf Holdings Limited
Domestic
CITIC SECURITIES CO., LTD non-state-owned 1.47% 9,467,951 A share 0
corporation
Foreign
NORGES BANK 0.43% 2,802,863 B share Unknown
corporation
VANGUARD EMERGING MARKETS Foreign
0.41% 2,617,518 B share Unknown
STOCK INDEX FUND corporation
Domestic
MAI SHUQING 0.35% 2,238,347 A share 0
individual
CHINA MERCHANTS SECURITIES (HK) Foreign
0.33% 2,126,022 B share Unknown
CO., LTD. corporation
CANADA POST CORPORATION Foreign
0.24% 1,579,096 B share Unknown
REGISTERED PENSION PLAN corporation
China Merchants Port Holdings Company Limited (CMPort) is a
shareholder of China Nanshan Development (Group) Inc., and
Related or acting-in-concert parties among the above Shenzhen Malai Storage Co., Ltd. and Keen Field Enterprises
shareholders Limited are both wholly-funded subsidiaries of CMPort. Other than
that, the Company does not know whether the other non-restricted
shareholders are related parties or not.
Top ten common shareholders conducting securities margin
N/A
trading (if any)
Whether the top ten common shareholders or the top ten non-restricted common shareholders of the Company conducted any
promissory repo during the Reporting Period
□ Yes √ No
2. Total number of preference shareholders and shareholdings of the top ten of them
□ Applicable √ Not applicable
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The Report for the First Quarter of 2018－Shenzhen Chiwan Wharf Holdings Limited
Section III Significant Events
I Changes in major accounting statement items and financial indicators for the Reporting
Period, as well as reasons for such changes
√ Applicable □ Not applicable
Unit: RMB
Item 31 March 2018 31 December 2017 +/-% Explanation of change
As per the new accounting standard
Financial assets governing financial instruments, the
measured at fair value
measurement method of
with fair value changes 146,933,840.00 - -
“available-for-sale financial assets” has
recorded into other
changed from the cost method to the fair
comprehensive income
value method.
As per the new accounting standard
governing financial instruments,
available-for-sale financial assets have been
Available-for-sale
- 23,759,200.00 -100.00% reclassified into “financial assets
financial assets
measured at fair value with fair value
changes recorded into other comprehensive
income”.
Declaration of cash dividends for the
Dividends payable 1,113,827,859.29 263,384,499.42 332.89%
current period
Payment for engineering services in the
Other accounts payable 80,541,725.19 138,012,498.12 -41.64%
current period
The measurement method of
available-for-sale financial assets has
Deferred income tax
42,666,970.44 10,584,342.80 303.11% changed to the fair value method, and
liabilities
deferred income tax liabilities on the
appraised value increase were recognized.
The measurement method of
available-for-sale financial assets has
Other comprehensive
112,181,324.49 19,800,344.49 466.56% changed to the fair value method, and the
income
appraised value increase was included in
other comprehensive income.
January-March January-March
Item +/-% Explanation of change
2018 2017
Greater year-on-year foreign exchange loss
Finance costs 11,867,911.67 6,226,387.15 90.61% due to depreciation of foreign currency in
the current period
Cash received from A waterway use fee refund was received in
other operating 8,780,741.41 21,313,277.45 -58.80% the same period of last year, while there
activities were no such cases in the current period
Advances paid by container handling
subsidiaries for clients increased in the
current period compared to the same period
Cash paid for other
22,117,095.45 1,905,213.44 1060.87% of last year; and withheld tariffs and import
operating activities
VAT were received in the same period of
last year, while there were no such cases in
the current period
Cash received from
Returned money was received from the
other investing - 53,000,000.00 -100.00%
CMG-CIC capital pool
activities
Cash paid to acquire
fixed assets, intangible Year-on-year increase in payment for
66,254,683.67 25,190,680.71 163.01%
assets and other engineering services
long-term assets
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The Report for the First Quarter of 2018－Shenzhen Chiwan Wharf Holdings Limited
Cash paid for other The same period of last year seeing a
67,400,000.00 -100.00%
investing activities payment to the CMG-CIC capital pool
Repayment of The same period of last year seeing
- 36,270,000.00 -100.00%
borrowings repayment of bank loans
Payment of dividends to minority
Cash paid for interest shareholders by container handling
expenses and subsidiaries in the same period of last year
75,000.00 39,707,869.76 -99.81%
distribution of and a higher payment of interest on bank
dividends or profit loans in the same period of last year
compared to the current period
Effect of foreign
Greater year-on-year foreign exchange loss
exchange rate changes
-14,225,368.65 -2,054,541.21 -592.39% due to depreciation of foreign currency in
on cash and cash
the current period
equivalents
II Progress of significant events and analysis & explanations on their influence and solutions
√ Applicable □ Not applicable
Our Company signed the Supplementary Agreement to the MEDIA PORT INVESTMENTS LIMITED Shareholder Agreement with
China Merchants Port Holdings Co., Ltd. (the “CMPH”), FATTEN INVESTMENTS LIMITED (the “FIL”) and MEDIA PORT
INVESTMENTS LIMITED (the “MPIL”) on 23 August 2017 in Shenzhen. In accordance with the arrangement in the Agreement,
the Company had completed the director appointment for MPIL at the end of September 2017 and realized its control over MPIL and
its subsidiaries-FIL, Shenzhen Mawan wharf Co., Ltd., Shenzhen Mawan Port Services Co., Ltd. and Shenzhen Mawan Warehouse &
Terminals Co., Ltd. (hereinafter referred to as the “Mawan Company”) in form and nature. Based on the related provisions of the
Accounting Standards for Business Enterprises No. 33 - Consolidated Financial Statements, the Company has consolidated MPIL
and its subsidiaries-FIL and Mawan Company since September 2017.In accordance with the requirements on company consolidation
under the same control, has adjusted the amount of the same period for the previous year.
On 5 February 2018, the Company signed the Supplementary Agreement II to the MEDIA PORT INVESTMENTS LIMITED
Shareholder Agreement with CMPH, FIL and MPIL which went into effect upon signature and immediately implemented once upon
the completion of transfer of shares of the Company, a total of 66.10%, held by Shenzhen Malai Storage Co., Ltd., Keen Field
Enterprises Limited and China Nanshan Development (Group) Inc. to China Merchants Gangtong Development (Shenzhen) Co., Ltd.
(a subsidiary of China Merchants Group) and its acting-in-concert party Broadford Global Limited. The Company lost the control
rights over MPIL and its subsidiaries-FIL and Mawan Company and no longer included those companies into the consolidated
financial statement scope of the Company from the date of losing control rights. Refer to the Announcement on the Associated
Transaction of Signing the Supplementary Agreement II to the MEDIA PORT INVESTMENTS LIMITED Shareholder Agreement
(No.2018-13) disclosed on（http://www.cninfo.com.cn）on 7 February 2018 for details.
III Overdue commitments of the Company’s actual controller, shareholders, related parties
and acquirer, as well as the Company and other commitment makers in this Reporting Period
or ongoing at the period-end
□ Applicable √ Not applicable
IV Operating result forecast for January-June 2018
Warning of possible loss or considerable YoY change of the accumulated net profit made during the period-beginning to the end of
the next reporting period according to prediction, as well as explanations on the reasons:
□ Applicable √ Not applicable
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The Report for the First Quarter of 2018－Shenzhen Chiwan Wharf Holdings Limited
V Securities investments
√ Applicable □ Not applicable
Unit: RMB
Profit/loss
Initial Opening Opening Closing Closing
Variety of Code of Name of Closing in the Source of
investment number of shareholding number of shareholding Accounting title
securities securities securities book value Reporting securities
cost shares held percentage shares held percentage
Period
Financial assets Corporate
measured at fair shares that
value with fair had become
Jiangsu
Stock 600377 1,120,000 1,000,000 0.02% 1,000,000 0.02% 9,540,000 - value changes tradable
Expressway
recorded into other through
comprehensive share
income reform
Financial assets
measured at fair
value with fair
Petrochemical Corporate
Stock 400032 3,500,000 780,000 0.26% 780,000 0.26% 382,200 - value changes
A1 shares
recorded into other
comprehensive
income
Financial assets
measured at fair
value with fair
Corporate
Stock 400009 Guang Jian 1 27,500 20,000 0.02% 20,000 0.02% 17,000 - value changes
shares
recorded into other
comprehensive
income
Total 4,647,500 1,800,000 -- 1,800,000 -- 9,939,200 - -- --
VI Investments in derivative financial instruments
□ Applicable √ Not applicable
VII Visits paid to the Company in the Reporting Period for purposes of research,
communication, interview, etc.
√ Applicable □ Not applicable
Date of visit Way of visit Type of visitor Index to main inquiry information
4 January 2018 By one-on-one meeting Institution
6 February 2018 By one-on-one meeting Institution Main inquiry: basic business condition, investments and
financial condition of the Company;
12 March 2018 By one-on-one meeting Institution Materials provided: brochure of the Company;
Index: SZSE EasyIR
By phone and written inquiry
(http://irm.cninfo.com.cn/ssessgs/S000022/index.html)
January-March 2018 (through the EasyIR platform Individual
of SZSE)
VIII Illegal provision of guarantees for external parties
□ Applicable √ Not applicable
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The Report for the First Quarter of 2018－Shenzhen Chiwan Wharf Holdings Limited
IX Occupation of the Company’s funds by the controlling shareholder or its related parties
for non-operating purposes
□ Applicable √ Not applicable
X Progress made on internal control
In the first quarter of 2018, according to the results of the work flow combing of internal control for 2017, the sample test of drafts,
internal control defect sheet and the rectification report on internal control, the Company produced the 2017 annual internal control
self-evaluation report, which was disclosed after review and approval at the Third Meeting of the 9th Board of Directors and the Third
Meeting of the 9th Supervisory Committee.
The Company engaged Deloitte Touche Tohmatsu Certified Public Accountants LLP to audit the effectiveness of its 2017 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 making preparations for its internal control activities in 2018. It has renewed the list of the internal control
task group members, formulated the work plan and schedule for internal control in 2018 and determined the subjects and work flows
for the internal control in 2018, which both remained the same as last year.
The Company has completed the internal control work in 2017 according to the schedule in the internal control work plan for 2017,
as well as the preparations for its internal control activities in 2018 according to the schedule in the internal control work plan for
2018, with no deviation or delay.
XI Deposits in and loans provided by a finance company
1.The Proposal on Renewal of Financial Service Agreement with China Development Finance Company Ltd. was reviewed and
approved on the 2016 Annual Meeting of Shareholders held on 5 June 2017, in which, the Company was agreed to sign the Financial
Service Agreement with China Development Finance Company Ltd. with the period of three years.
At the end of the Reporting Period, the deposits in and loans of the Company provided by China Development Finance Company Ltd.
were listed as follows:
Unit: RMB’0,000
Opening
Item Increase Decrease Closing balance
balance
I. Deposits in China Development Finance
119.27 0.26 - 119.53
Company Ltd.
II. Loans provided by China Development
- - - -
Finance Company Ltd.
2. The Proposal on Signing Financial Service Agreement with Sinotrans & CSC Finance Co., Ltd. was reviewed and approved on the
Second 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.
At the end of the Reporting Period, deposits in and loans provided by China Merchants Group Finance Co., Ltd. were as follows:
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The Report for the First Quarter of 2018－Shenzhen Chiwan Wharf Holdings Limited
Unit: RMB’0,000
Item Opening balance Increase Decrease Closing balance
I. Deposits in China Merchants Group Finance
15,035.93 61.74 2,000.00 13,097.67
Co., Ltd.
II. Loans provided by China Merchants Group
- - - -
Finance Co., Ltd.
XII Explain change of the accounting policy, accounting estimate and measurement methods
as compared with the financial reporting of last year
The primary changes to the Company’s accounting policies are summarized as follows: On 31 March 2017, the Ministry of Finance
issued the revised Accounting Standard No. 22 for Business Enterprises—Recognition and Measurement of Financial Instruments
(hereinafter referred to as the “Revised Accounting Standard No. 22”), the revised Accounting Standard No. 23 for Business
Enterprises—Transfer of Financial Assets (hereinafter referred to as the “Revised Accounting Standard No. 23”) and the revised
Accounting Standard No. 24 for Business Enterprises—Accounting for Hedges (hereinafter referred to as the “Revised Accounting
Standard No. 24”); on 28 April 2017, the Ministry of Finance issued the Accounting Standard No. 42 for Business
Enterprises—Non-Current Assets and Disposal Groups Held for Sale and Discontinued Operations (hereinafter referred to as the
“Accounting Standard No. 42”); on 2 May 2017, the Ministry of Finance issued the revised Accounting Standard No. 37 for Business
Enterprises—Presentation of Financial Instruments (hereinafter referred to as the “Revised Accounting Standard No. 37”); on 10
May 2017, the Ministry of Finance issued the revised Accounting Standard No. 16 for Business Enterprises—Government Subsidies
(hereinafter referred to as the “Revised Accounting Standard No. 16”); and on 5 July 2017, the Ministry of Finance issued the revised
Accounting Standard No. 14 for Business Enterprises—Revenue (hereinafter referred to as the “Revised Accounting Standard No.
14”). As required by the Ministry of Finance, the Company has adopted the Revised Accounting Standard No. 22, No. 23, No. 24, No.
37 and No. 14 since 1 January 2018; the Accounting Standard No. 42 since 28 May 2017; and the Revised Accounting Standard No.
16 since 12 June 2017. For further information, please see the Announcement of Shenzhen Chiwan Wharf Holdings Limited on
Accounting Policy Changes (No. 2018-025), which has been disclosed by the Company on http://www.cninfo.com.cn dated 7 March
2018.
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The Report for the First Quarter of 2018－Shenzhen Chiwan Wharf Holdings Limited
Section IV Financial Statements
I Financial statements
1. Consolidated balance sheet
Prepared by Shenzhen Chiwan Wharf Holdings Limited
31 March 2018
Unit: RMB
Item Closing balance Opening balance
Current assets:
Monetary funds 882,443,673.34 818,193,679.32
Notes receivable - 500,000.00
Accounts receivable 324,892,482.00 257,081,961.83
Accounts paid in advance 3,697,278.94 4,354,830.16
Interest receivable 1,321,127.98 1,175,305.39
Other accounts receivable 26,277,303.16 21,209,538.29
Inventories 23,474,249.32 21,862,480.10
Other current assets 28,550,885.86 33,491,432.18
Total current assets 1,290,657,000.60 1,157,869,227.27
Non-current assets:
Financial assets measured at fair value with
fair value changes recorded into other 146,933,840.00 -
comprehensive income
Available-for-sale financial assets - 23,759,200.00
Long-term equity investments 1,130,418,004.43 1,152,620,039.97
Investment property 22,614,623.67 22,821,081.69
Fixed assets 3,863,247,003.97 3,929,355,718.60
Construction in progress 104,233,438.82 86,317,666.70
Intangible assets 1,338,207,513.15 1,350,224,998.54
Goodwill 10,858,898.17 10,858,898.17
Long-term deferred expenses 96,935,572.76 98,278,001.09
Deferred tax assets 10,817,190.11 11,031,026.43
Other non-current assets 132,334,704.86 132,334,704.86
Total non-current assets 6,856,600,789.94 6,817,601,336.05
Total assets 8,147,257,790.54 7,975,470,563.32
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The Report for the First Quarter of 2018－Shenzhen Chiwan Wharf Holdings Limited
Item Closing balance Opening balance
Current liabilities:
Accounts payable 104,922,904.24 131,837,865.23
Accounts received in advance 27,751,691.73 56,571,454.49
Payroll payable 52,338,242.59 95,361,472.09
Taxes payable 90,176,882.75 96,453,101.66
Interest payable 7,044,246.58 3,678,493.15
Dividends payable 1,113,827,859.29 263,384,499.42
Other accounts payable 80,541,725.19 138,012,498.12
Other current liabilities 100,000,000.00 100,000,000.00
Total current liabilities 1,576,603,552.37 885,299,384.16
Non-current liabilities:
Bonds payable 299,079,452.03 298,931,506.83
Long-term accounts payable 25,000,000.00 25,000,000.00
Special payables 29,244,829.73 32,563,422.41
Deferred income 153,369,036.75 156,048,997.49
Deferred tax liabilities 42,666,970.44 10,584,342.80
Total non-current liabilities 549,360,288.95 523,128,269.53
Total liabilities 2,125,963,841.32 1,408,427,653.69
Owners’ equity:
Share capital 644,763,730.00 644,763,730.00
Capital reserve 167,480,381.25 167,480,381.25
Other comprehensive income 112,181,324.49 19,800,344.49
Special reserve 6,730,290.21 4,767,373.45
Surplus reserve 520,074,434.56 520,074,434.56
Retained earnings 2,862,301,899.02 3,566,083,142.17
Equity attributable to owners of the Company 4,313,532,059.53 4,922,969,405.92
Minority interests 1,707,761,889.69 1,644,073,503.71
Total owners’ equity 6,021,293,949.22 6,567,042,909.63
Total liabilities and owners’ equity 8,147,257,790.54 7,975,470,563.32
The financial statements from Page 10 to Page 17 have been signed by:
Legal representative: Bai Jingtao
Accounting head for this Report: Yao Shenglan
Head of the accounting department: Li Xiaopeng
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The Report for the First Quarter of 2018－Shenzhen Chiwan Wharf Holdings Limited
2. Balance sheet of the Company
31 March 2018
Unit: RMB
Item Closing balance Opening balance
Current assets:
Monetary funds 275,761,557.70 230,039,345.73
Accounts receivable 5,539,775.11 12,987,394.84
Dividends receivable 589,478,376.49 589,478,376.49
Other accounts receivable 555,370,515.86 583,090,959.69
Inventories 451,010.15 415,163.18
Other current assets 1,232,881.36 2,210,653.66
Total current assets 1,427,834,116.67 1,418,221,893.59
Non-current assets:
Financial assets measured at fair value with
fair value changes recorded into other 146,933,840.00 -
comprehensive income
Available-for-sale financial assets - 23,759,200.00
Long-term accounts receivable 11,004,284.75 11,004,284.75
Long-term equity investments 2,193,996,684.04 2,215,952,842.62
Investment property 12,995,939.67 13,116,783.72
Fixed assets 201,074,873.39 204,839,343.34
Construction in progress 11,209,913.14 10,631,762.77
Intangible assets 59,220,718.54 59,954,618.20
Long-term deferred expenses 3,904,107.78 3,976,969.45
Total non-current assets 2,640,340,361.31 2,543,235,804.85
Total assets 4,068,174,477.98 3,961,457,698.44
Current liabilities:
Accounts payable 16,970,388.74 18,376,556.53
Advance from customers 46,750.00 98,400.00
Payroll payable 34,732,326.90 51,689,614.60
Taxes payable -729,441.34 1,578,674.01
Interest payable 13,301,205.42 8,010,008.11
Dividends payable 888,051,900.52 37,608,540.65
Other accounts payable 819,248,182.50 834,923,800.53
Other current liabilities 100,000,000.00 100,000,000.00
Total current liabilities 1,871,621,312.74 1,052,285,594.43
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The Report for the First Quarter of 2018－Shenzhen Chiwan Wharf Holdings Limited
Item Closing balance Opening balance
Non-current liabilities:
Bonds payable 299,079,452.03 298,931,506.83
Long-term payables 148,802,000.00 150,098,000.00
Deferred tax liabilities 32,976,160.00 2,182,500.00
Total non-current liabilities 480,857,612.03 451,212,006.83
Total liabilities 2,352,478,924.77 1,503,497,601.26
Owners’ equity:
Share capital 644,763,730.00 644,763,730.00
Capital reserve 240,001,254.59 240,001,254.59
Other comprehensive income 99,028,480.00 6,647,500.00
Surplus reserve 520,074,434.56 520,074,434.56
Retained earnings 211,827,654.06 1,046,473,178.03
Total owners’ equity 1,715,695,553.21 2,457,960,097.18
Total liabilities and owners’ equity 4,068,174,477.98 3,961,457,698.44
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The Report for the First Quarter of 2018－Shenzhen Chiwan Wharf Holdings Limited
3. Consolidated income statement
Unit: RMB
Item January-March 2018 January-March 2017(restated)
1. Operating revenues 615,757,667.14 590,462,575.45
Including: Sales income 615,757,667.14 590,462,575.45
2. Operating costs 392,569,837.76 375,360,249.71
Including: Cost of sales 335,994,388.63 332,635,395.49
Taxes and surtaxes 1,561,692.26 2,515,799.94
Administrative expenses 42,785,732.07 36,019,158.95
Finance costs 11,867,911.67 6,226,387.14
Asset impairment loss 360,113.13 -2,036,491.82
Add: Investment income (“-” means loss) 16,359,969.28 14,991,154.94
Including: Share of profit/loss of associates and joint
16,359,969.28 14,991,154.94
ventures
Asset disposal income (“-” for loss) -652,653.98 -
Other income 524,620.38 -
3. Operating profit (“-” means loss) 239,419,765.06 230,093,480.68
Add: Non-operating income 980,568.21 1,378,961.03
Less: Non-operating expense 830,545.96 224,356.40
4. Total profit (“-” means loss) 239,569,787.31 231,248,085.31
Less: Corporate income tax 30,383,170.97 36,258,541.92
5. Net profit (“-” means loss) 209,186,616.34 194,989,543.39
5.1 Net profit arising from going concern (“-“ means net
209,186,616.34 194,989,543.39
loss)
5.2 Net profit arising from discontinued operation
- -
(“-“ means net loss)
Net profit attributable to owners of the Company 146,662,116.72 138,193,456.79
Minority interests’ income 62,524,499.62 56,796,086.60
6. Other comprehensive income net of tax -232,500.00 600,000.00
Other comprehensive income net of tax attributable to
-232,500.00 600,000.00
owners of the Company
6.1 Other comprehensive income that will not be
- -
reclassified into profit/loss
6.2 Other comprehensive income to be subsequently
-232,500.00 600,000.00
reclassified into profit/loss
6.2.1 Share of other comprehensive income of investees
- -
that will be reclassified into profit/loss under the equity method
6.2.2 Profit/loss on fair value changes of
- 600,000.00
available-for-sale financial assets
6.2.3 Profit/loss on fair value changes of financial
assets measured at fair value with fair value changes recorded -232,500.00 -
into other comprehensive income
Attributable to non-controlling interests - -
7. Total comprehensive income 208,954,116.34 195,589,543.39
Attributable to owners of the Company 146,429,616.72 138,793,456.79
Attributable to minority interests 62,524,499.62 56,796,086.60
8. Earnings per share
8.1 Basic earnings per share 0.227 0.214
8.2 Diluted earnings per share 0.227 0.214
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The Report for the First Quarter of 2018－Shenzhen Chiwan Wharf Holdings Limited
4. Income statement of the Company
Unit: RMB
Item January-March 2018 January-March 2017
1. Operating revenues 44,714,453.31 58,846,673.04
Less: Operating costs 30,942,499.65 28,369,134.19
Taxes and surtaxes 457,736.06 437,325.39
Administrative expenses 17,526,593.90 13,732,717.55
Finance costs -4,335,368.90 -407,865.92
Asset impairment loss - -7,730.22
Add: Investment income (“-” means loss) 16,605,846.24 14,113,685.80
Including: Share of profit/loss of associates and joint
16,605,846.24 14,113,685.80
ventures
Asset disposal income (“-” for loss) -934,006.99 -
2. Operating profit (“-” means loss) 15,794,831.85 30,836,777.85
Add: Non-operating income 3,113.00 236,108.78
Less: Non-operating expense 108.96 224,356.40
3. Total profit (“-” means loss) 15,797,835.90 30,848,530.23
Less: Corporate income tax - -396,443.74
4. Net profit (“-” means loss) 15,797,835.90 31,244,973.97
4.1 Net profit arising from going concern (“-“ means net
15,797,835.90 31,244,973.97
loss)
4.2 Net profit arising from discontinued operation
- -
(“-“ means net loss)
5. Other comprehensive income net of tax -232,500.00 600,000.00
5.1 Other comprehensive income that will not be reclassified
- -
into profit and loss
5.2 Other comprehensive income to be subsequently
-232,500.00 600,000.00
reclassified into profit/loss
5.2.1 Share of other comprehensive income of investees that
- -
will be reclassified into profit/loss under the equity method
5.2.2 Profit/loss on fair value changes of available-for-sale
- 600,000.00
financial assets
5.2.3 Profit/loss on fair value changes of financial assets
measured at fair value with fair value changes recorded into other -232,500.00 -
comprehensive income
6. Total comprehensive income 15,565,335.90 31,844,973.97
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The Report for the First Quarter of 2018－Shenzhen Chiwan Wharf Holdings Limited
5. Consolidated cash flow statement
Unit: RMB
January-March
Item January-March 2018
2017(restated)
1. Cash flows from operating activities:
Cash received from sale of commodities and rendering of service 518,662,239.72 646,665,488.12
Tax refunds received 440,223.31 206,123.79
Cash received from other operating activities 8,780,741.41 21,313,277.45
Subtotal of cash inflows from operating activities 527,883,204.44 668,184,889.36
Cash paid for goods and services 204,758,345.65 171,889,762.94
Cash paid to and for employees 155,310,630.27 131,794,159.68
Taxes paid 40,232,636.56 34,894,273.75
Cash paid for other operating activities 22,117,095.45 1,905,213.44
Subtotal of cash outflows due to operating activities 422,418,707.93 340,483,409.81
Net cash flows from operating activities 105,464,496.51 327,701,479.55
2. Cash flows from investing activities:
Cash received as investment income 38,562,004.83 54,360,304.35
Net cash received from disposal of fixed assets, intangible assets
778,545.00 771,316.00
and other long-term assets
Other cash received related to investment activities - 53,000,000.00
Subtotal of cash inflows from investing activities 39,340,549.83 108,131,620.35
Cash paid to acquire fixed assets, intangible assets and other
66,254,683.67 25,190,680.71
long-term assets
Other cash paid related to investment activities - 67,400,000.00
Subtotal of cash outflows due to investing activities 66,254,683.67 92,590,680.71
Net cash flows from investing activities -26,914,133.84 15,540,939.64
3. Cash flows from financing activities:
Subtotal of cash inflows from financing activities - -
Repayment of borrowings - 36,270,000.00
Cash paid for interest expenses and distribution of dividends or
75,000.00 39,707,869.76
profit
Including: dividends and profits paid to minority shareholders
- 36,290,058.64
by subsidiaries
Cash paid for other financing activities - 5,600.00
Sub-total of cash outflows due to financing activities 75,000.00 75,983,469.76
Net cash flows from financing activities -75,000.00 -75,983,469.76
4. Effect of foreign exchange rate changes on cash and cash
-14,225,368.65 -2,054,541.21
equivalents
5. Net increase in cash and cash equivalents 64,249,994.02 265,204,408.22
Add: Opening balance of cash and cash equivalents 818,193,679.32 542,079,799.39
6. Closing balance of cash and cash equivalents 882,443,673.34 807,284,207.61
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The Report for the First Quarter of 2018－Shenzhen Chiwan Wharf Holdings Limited
6. Cash flow statement of the Company
Unit: RMB
Item January-March 2018 January-March 2017
1. Cash flows from operating activities:
Cash received from sale of commodities and rendering of
47,824,975.82 57,834,557.29
service
Cash received from other operating activities 212,220,080.47 117,473,798.03
Subtotal of cash inflows from operating activities 260,045,056.29 175,308,355.32
Cash paid for goods and services 14,411,768.08 18,184,362.42
Cash paid to and for employees 45,449,193.68 39,055,245.07
Taxes paid 1,361,330.99 2,119,399.84
Cash paid for other operating activities 188,998,993.20 109,249,867.33
Subtotal of cash outflows due to operating activities 250,221,285.95 168,608,874.66
Net cash flows from operating activities 9,823,770.34 6,699,480.66
2. Cash flows from investing activities:
Cash received as investment income 38,562,004.83 54,159,674.42
Net cash received from disposal of fixed assets, intangible
178,876.00 771,000.00
assets and other long-term assets
Subtotal of cash inflows from investing activities 38,740,880.83 54,930,674.42
Cash paid to acquire fixed assets, intangible assets and other
2,438,533.25 852,045.04
long-term assets
Subtotal of cash outflows due to investing activities 2,438,533.25 852,045.04
Net cash flows from investing activities 36,302,347.58 54,078,629.38
3. Cash flows from financing activities:
Subtotal of cash inflows from financing activities - -
Cash paid for other financing activities - 5,600.00
Sub-total of cash outflows due to financing activities - 5,600.00
Net cash flows from financing activities - -5,600.00
4. Effect of foreign exchange rate changes on cash and cash
-403,905.95 -109,438.69
equivalents
5. Net increase in cash and cash equivalents 45,722,211.97 60,663,071.35
Add: Opening balance of cash and cash equivalents 230,039,345.73 97,401,657.09
6. Closing balance of cash and cash equivalents 275,761,557.70 158,064,728.44
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The Report for the First Quarter of 2018－Shenzhen Chiwan Wharf Holdings Limited
II Auditor’s report
Is this Report audited?
□ Yes √ No
For and on behalf of the Board
Bai Jingtao
Chairman of the Board
Shenzhen Chiwan Wharf Holdings Limited
Dated 27 April 2018
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