China Merchants Property Development Co., Ltd. The 3rd Quarterly Report 2010 (Full Text)
1
Stock Code: 000024, 200024 No.:【CMPD】2010－031
Short Form of the Stock: CMPD, CMPD-B
China Merchants Property Development Co., Ltd.
The 3rd Quarterly Report 2010 (Full text)
§1 Important Declaration
1.1 The Board of Directors and the directors of the Company guarantee that there are no significant
omissions, fictitious or misleading statements carried in the Report and we will accept individual and joint
responsibilities for the truthfulness, accuracy and completeness of the Report.
1.2 The 3rd Quarterly Report is not audited by CPA.
1.3 Mr. Sun Chengming - the legal representative, Mr. Huang Peikun – the chief financial officer, and Ms. Xu
Yixia – the manager of accounting department declare: the financial reports carried in this report is secured for its
truthfulness and completeness.
1.4 This report is prepared both in English and Chinese. When there is any conflict in understanding, the
Chinese version shall prevail.
§2 Company Profile
2.1 Financial highlights
In RMB Yuan
2010.9.30 2009.12.31 Extent of Change (%)
Gross Assets (RMB) 54,380,058,827.00 47,897,160,497.00 13.54%
Owners’ equity attributable to the
shareholders of the listed company (yuan)
17,585,819,894 16,278,736,754.00 8.03%
Capital shares (shares) 1,717,300,503 1,717,300,503 －
Net asset per share attributable to the
shareholders of the listed company
(Yuan/share)
10.24 9.48 8.02%
July-Sept. 2010
Changed over the
same period of last
year (%)
Jan-Sept. 2010
Changed over the
same period of last
year (%)
Turnover (yuan) 2,603,531,682.00 7.96% 9,584,685,607.00 81.27%
Net profit attributable to shareholders of
the listed company (yuan)
376,691,534 -20.54% 1,426,870,815 48.49%
Net Cash flow generated by business
operation (RMB)
- - -2,238,066,670.00 -143.44%
Net Cash flow per share generated by
business operation (yuan/share)
- - -1.30 -142.00%
Basic earnings per share (Yuan/share) 0.22 -21.43% 0.83 48.21%
Diluted earnings per share (Yuan/share) 0.22 -21.43% 0.83 48.21%
Weighted average net
income/asset ratio (%)
2.17%
Down by 0.91
percentage point
8.41%
Up by 2.10
percentage point
Weighted average net
income/asset ratio less non-recurring
gain/loss(%)
2.15%
Down by 0.93
percentage point
8.39%
Up by 2.14
percentage pointChina Merchants Property Development Co., Ltd. The 3rd Quarterly Report 2010 (Full Text)
2
Non-recurring gain and loss items
Amount from beginning of year to
the end of report term
Note
Gain/loss of non-current assets 7,822,702.00
Government subsidies accounted into current gain/loss account, other
than those closely related to the Company’s common business, comply
with the national policy and continues to enjoy at certain fixed rate or
amount.
1,670,301.00
Restoring of receivable account impairment provision tested
individually
2,861.00
Other non-business income and expenditures other than the above -4,210,909.00
Influenced amount of income tax -3,086,826.00
Influenced amount of minority shareholders’equity -82,953.00
Total 2,115,176.00 -
2.2 Total of shareholders and the top 10 holders of unconditional shares
In shares
Total shareholders at the end of the report period (accounts) 103,862
Top ten holders of the shares without subscription limitation
Full name of shareholder
Amount of
unconditional shares
held at the end of
report term
Categories
Fuguo Tianrui Fine Blend Open Fund 22,773,428 A shares
Shangtou Morgan China Advantages Securities Investment Fund 21,955,750 A shares
Penghua Value Stock Investment Fund 15,999,901 A shares
Yifangda Shenzhen Index 100 Open Stock Fund 12,107,653 A shares
CNCA A/C COMPAGNIE FINANCIERE EDMOND DE ROTHSCHILD 9,699,770 B shares
DREYFUS PREMIER INVESTMENT FDS INC.-DREYFUS GREATER CHINA FD 8,678,901 B shares
Rongtong Shenzhen Index 100 Securities Investment Fund 8,281,728 A shares
Shangtou Morgan Internal Power Stock Investment Fund 8,000,000 A shares
Everbright Baodexin Core Stock Investment Fund 7,348,063 A shares
Southern Find Elements Stock Investment Fund 7,002,382 A shares
Note: Shekou Industrial Zone – the holding shareholder of the Company has committed to the Company at placing of new shares in
2007 that it will not trade the newly placed shares in 36 months since the ending date of the private offer (September 24, 2007).
Therefore the shares held by Shekou Industrial Zone (including its act-in-concert parties) have been restricted to trade until the
releasing date, namely September 23, 2010. As of the date of this report, the Company has not yet informed by Shekou Industrial
Zone (including its act-in-concert parties) to request releasing the shares for trading.
§3 Significant Events
3.1 Details and causations of major change in major accounting subjects and financial indices
√ applicable □ not applicable
In RMB Yuan
Items 2010.09.30 2009.12.31 Changed by
%
Major causes
Transactional
financial assets
498,507 6,437,479 -92%
Decreased by handover of NDF contracts in the
period and fluctuation of NDF market prices
Fixed assets 185,383,255 299,615,954 -38% Decreased by disposal of shares in water supply
Differed income tax
asset
391,591,259 290,485,972 35%
Increase of differed income tax assets
recognized by provisional difference caused byChina Merchants Property Development Co., Ltd. The 3rd Quarterly Report 2010 (Full Text)
3
drawn of land VAT in advance
Trade off financial
liabilities
7,615,914 12,829,413 -41%
Decreased by handover of NDF contracts in the
period and fluctuation of NDF market prices
Account payable 1,618,452,777 2,705,521,285 -40%
Disbursing of payment for land in the beginning
of term
Employees’ wage
payable
102,725,600 162,832,982 -37%
Bonus of previous year paid in the term
Tax payable 325,606,967 589,859,453 -45%
Decreased by payment of tax payable made in
the term
Interest payable 96,042,403 21,872,418 339% Increasing of long-term loans in the term
Dividend payable 22,389,482 107,751,887 -79%
Payment of dividends of previous year made in
the term
Long-term
borrowings
10,780,479,724 5,720,303,012 88%
Increasing of long-term loans for expanding of
business scale
Different of foreign
currency translation
124,298,171 72,806,727 71%
Caused by foreign exchange rate fluctuation
Items Jan-Sept. 2010 Jan-Sept. 2009 Changed by
%
Major causes
Turnover 9,584,685,607 5,287,377,216 81% Increase of property sales income
Operation cost 5,809,187,731 3,052,074,092 90% Increase of property sales costs
Business tax and
surcharge
1,126,992,261 836,763,041 35%
Tax increased for increasing of sales income of
properties
Income from
change of fair value
-860,876 -115,121,120 99%
Loss from fluctuation of NDF fair value
Investment income 38,558,420 257,788,655 -85%
Decreasing of long-term equity investment
calculated on equity basis
Non-operational
income
12,819,515 22,125,313 -42%
Expected liabilities written back in same period
of last year
Non-operational
expenditure
8,186,280 1,387,639 490%
Increase of donation and newly increased major
conservation construction fund in the term
Income tax
expenses
585,673,458 269,613,177 117%
Increase of taxable profit
Minor
shareholders ’
equity
361,821,446 -16,245,446 2327%
Net profit of subsidiaries increased in the term
and minority shareholders’ equity of the
subsidiaries increased correspondingly
Other misc incomes 75,749,313 -236,633 32111%
Increase of difference from foreign currency
translation in the term
3.2 Progress of significant events, their influence, countermeasures, and analysis
3.2.1 None-standard opinions
□applicable √ not applicable
3.2.2 Illegal providing of capital or guarantees to the holding shareholder or its related parties or external
parties
□applicable √ not applicable
3.2.3 Signing and execution of major business contracts
√ applicable □ not applicable
During the period of applying for private placing in 2009, Shenzhen CM Property Co., Ltd. – one of the Company’s subsidiaries
entered the “Land Right Confirmation Contract” with China Merchants Shekou Industrial Zone Co., Ltd. (CMSIZ). According to the
contract, the Company has canceled the arrangement of private placing, but paid independently for the land using rights of “Jingshan
Project Phase 9” to acquire the development rights of this project.China Merchants Property Development Co., Ltd. The 3rd Quarterly Report 2010 (Full Text)
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3.2.4 Misc.
□applicable √ not applicable
3.3 Fulfilling of commitment issues made by the Company, shareholder, or substantial controller
√ applicable □ not applicable
3.4 Estimated accumulative profit from the year beginning to the end of the next report period may be of
deficits; or in comparison with the same period of the previous year, give the warning of great change and
the notice to the reasons.
□applicable √ not applicable
3.5 Major events needs to be explained
3.5.1 Investment in securities
√ applicable □ not applicable
In RMB Yuan
Commitments
The undertaker
Content of Commitments
Status of fulfilling
Commitment in share equity relocation
CMSIZ
The original non-negotiable shares shall
not been traded or transferred in 24
months since the trading right been
granted (Feb 9, 2006). Shares placed in
Shenzhen Stock Exchange in 12 months
upon the above 24 months shall not
exceed 5% of the total shares of the
Company. In 36 months upon the above 24
months, the price of A-shares of the
Company shall not be lower than 120% of
the arithmetical average in 30 days prior to
the publishing of share reallocation
announcement.
In the report term, CMSIZ
was fully acting as
committed.
Commitment made in acquisition report
or equity alternation report
Not applicable
Not applicable
Not applicable
Commitment made in major asset
restructuring
Not applicable
Not applicable
Not applicable
Commitment made at issuing
Not applicable
Not applicable
Not applicable
Other commitments (including
supplementary commitments)
CMSIZ
CMSIZ, the controlling shareholder of the
Company, promised not to conduct or
participate with 3rd parties in any business
or activities possibly competing with the
Company in terms of business, new
commodities and new technology in any
forms (including but not limited to direct
operation, indirect operation, joint
investment). Never use the information
obtained from the Company to conduct or
participate in and competitive activities
against the Company.
In the report term, CMSIZ
was fully acting as
committed.China Merchants Property Development Co., Ltd. The 3rd Quarterly Report 2010 (Full Text)
5
No. Stock category Stock Code Stock ID
Initial
investment
(yuan)
Shares held
at the end of
term
Book value at
the end of term
Portion in
total stock
investment at
the end of
report term
(%)
Gain/loss of the
report term
1 Stock 000004 ST Guo’nong 1,572,275.00 489,824 5,579,095.00 100.00% 0.00
Other stock investment held at the end of report term 0.00 - 0.00 0.00% 0.00
Gain/loss of disposed stock investment in the report term - - - - 0.00
Total 1,572,275.00 489,824 5,579,095.00 100% 0.00
Statement on stock investment
The Company holds “ST Guo’nong” stocks which are accounted under “Disposable financial assets”, the gains of RMB680,855 from
change of fair value has been accounted into owners’ equity.
3.5.2 Reception of investigations, communications, or interviews
The Company has been keeping good communication with the investors by means of accepting onsite investigations, telephone
inquiring, and written inquiring. In the report term, the Company has been following the “Guide for standard operation of listed
companies” and asked the investors which requested investigations to sign the commitment letter, and maintain the principles of
fairness, justice, and open in information disclosure.
Time/date Place Way Visitors
Main content
involved and material
provided
Jan 12, 2010 Shekou Shenzhen Field research
Zhongxin
Construction
Jan 19, 2010 Shekou Shenzhen Field research Yangtze Securities
Jan 25, 2010 Shekou Shenzhen Field research Guolian’an
Jan 26, 2010 Shekou Shenzhen Field research Goldman Sachs
Jan 27, 2010 Shekou Shenzhen Field research Bohai Securities
Feb 5, 2010 Shekou Shenzhen Field research
Clients of CITIC
securities
Feb 10, 2010 Shekou Shenzhen Witten inquiry Investor
Feb 22, 2010 Shekou Shenzhen Witten inquiry Investor
Feb 23, 2010 Shekou Shenzhen Witten inquiry Investor
Mar 1, 2010 Shekou Shenzhen Field research
Guangzhou
Securities
Mar 2, 2010 Shekou Shenzhen Field research Dahe Securities
Mar 3, 2010 Shekou Shenzhen Field research Anxin Securities
Mar 12, 2010 Shekou Shenzhen Witten inquiry Investor
Mar 15, 2010 Shekou Shenzhen Witten inquiry Investor
Mar 15, 2010 Shekou Shenzhen Witten inquiry Investor
Mar 18, 2010 Shekou Shenzhen Field research Zhongshan Securities
Mar 22, 2010 Shekou Shenzhen Written inquiry Investor
Mar 25, 2010 Shekou Shenzhen Field research Taizheng Securities
Mar 26, 2010 Shekou Shenzhen Field research
Client of J.P.
MORGEN
Mar 29, 2010 Shekou Shenzhen Field research Clients of UBS
Mar 29, 2010 Shekou Shenzhen Written inquiry Investor
March 31, 2010 Shekou Shenzhen Written inquiry Investor
Apr 2, 2010 Shekou Shenzhen Field research
Clients of Gaohua
Securities
Apr 4, 2010 Shekou Shenzhen Written inquiry Investor
(1) Company
business operation
situation
(2) Industrial
development
discussion
(3) Providing
information and
brochures already
released
(4) Visiting the sites
of properties on sale,
providing the
prospectusChina Merchants Property Development Co., Ltd. The 3rd Quarterly Report 2010 (Full Text)
6
Apr 6, 2010 Shekou Shenzhen Written inquiry Investor
Apr 6, 2010 Shekou Shenzhen Written inquiry Investor
Apr 12, 2010 Shekou Shenzhen Written inquiry Investor
Apr 12, 2010 Shekou Shenzhen Written inquiry Investor
Apr 19, 2010 Shekou Shenzhen Written inquiry Investor
Apr 20, 2010 Shekou Shenzhen Written inquiry Investor
Apr 21, 2010 Shekou Shenzhen Written inquiry Investor
April 23, 2010 Shekou Shenzhen Field research Clients of UBS
April 23, 2010 Shekou Shenzhen Written inquiry Investor
May 6, 2010 Shekou Shenzhen Field research
Group of investors
organized by
Shenwan
May 13, 2010 Qingdao Field research
Strategic meeting of
Zhongyin Securities
May 18, 2010 Shanghai Field research CLSA China Forum
May 31, 2010 Huhehaote Field research
UBS strategic
meeting
June 9, 2010 Beijing Field research
J.P.Morgan Strategic
Meeting
Jun 11, 2010 Shenzhen Field research Guosen Securities
Jun 11, 2010 Shenzhen Field research Everbright Securities
Jun 10, 2010 Beijing Field research Huatai united
June 9, 2010 Beijing Field research Anxin Securities
Jun 10, 2010 Lijiang Field research Guojin Securities
Jun 23, 2010 Shenzhen Field research
China Merchants
Securities
Jul 2, 2010 Shenzhen Field research Balin Properties
Jul 6, 2010 Shekou Shenzhen Tel. Inquiry Dongxing Securities
Jul 7, 2010
Chengdu
Chongqing
Field research
Shanghai Jinli
Invetment
Jul 9, 2010 Shekou Shenzhen Tel. Inquiry
Zhongzheng
Investment
Jul 15, 2010 Shekou Shenzhen Field research
Shanghai Tianxiang
Investment
Jul 15, 2010 Shekou Shenzhen Field research Tianshun Investment
Jul 15, 2010 Shekou Shenzhen Field research Aijian Securities
Jul 16, 2010 Shekou Shenzhen Field research Guangfa Fund
Jul 19, 2010 Shekou Shenzhen Field research Boshi Fund
Jul 19, 2010 Shekou Shenzhen Field research Suisse Bank
Jul 20, 2010 Shekou Shenzhen Field research
Shanghai Everbright
Securities
Jul 28, 2010 Shekou Shenzhen Tel. Inquiry
Bank of China
International
Jul 28, 2010 Shekou Shenzhen Tel. Inquiry
China Merchants
Securities
July 29, 2010 Shekou Shenzhen Tel. Inquiry Zhongtou Securities
August 3, 2010 Shekou Shenzhen Tel. Inquiry Investor
Aug 5, 2010 Shekou Shenzhen Tel. Inquiry Merrill Lynch
Aug 12, 2010 Shekou Shenzhen Tel. Inquiry Investor
Aug 13, 2010 Shekou Shenzhen Tel. Inquiry InvestorChina Merchants Property Development Co., Ltd. The 3rd Quarterly Report 2010 (Full Text)
7
Aug 16, 2010 Shekou Shenzhen Tel. Inquiry Investor
Aug 17, 2010 Shekou Shenzhen Field research Zexi Investment
Aug 18, 2010 Shekou Shenzhen Field research
Bank of China
International
Aug 18, 2010 Shekou Shenzhen Field research Shangtou Morgan
Aug 18, 2010 Shekou Shenzhen Field research Nuo’an Fund
Aug 18, 2010 Shekou Shenzhen Field research Yangtze Securities
Aug 20, 2010 Shekou Shenzhen Tel. Inquiry
Zhongzheng
Investment
Aug 20, 2010 Shekou Shenzhen Tel. Inquiry
Yangtze Pension
Fund
Aug 22, 2010 Shekou Shenzhen Field research
Shanghai Jinli
Investment
Aug 24, 2010 Shekou Shenzhen Tel. Inquiry
Shanghai Jinli
Investment
Sept 7, 2010 Shekou Shenzhen Tel. Inquiry Huatai united
Sept 8, 2010 Shekou Shenzhen Field research Zhongtou Securities
Sept 10, 2010 Shekou Shenzhen Tel. Inquiry Investor
Sept 13, 2010 Shekou Shenzhen Field research Yuanzhi Invest
Sept 13, 2010 Shekou Shenzhen Field research Minseng Investment
Sept 17, 2010 Shekou Shenzhen Tel. Inquiry
Zhongzheng
Investment
Sept 21, 2010 Shekou Shenzhen Field research Penghua Fund
Sept 26, 2010 Shekou Shenzhen Tel. Inquiry Yuanzhi Invest
September 27, 2010 Shekou Shenzhen Field research Shangtou Morgan
Sept 28, 2010 Shekou Shenzhen Tel. Inquiry Investor
Sept 30, 2010 Shekou Shenzhen Tel. Inquiry Investor
3.6 Investment in derivate financial instruments
√ applicable □ not applicable
Statement on analyzing and controlling of risks with derivate
investment in the report term (including but not limited to
market risks, liquidity risks, credit risks, operation risks, and
legal risks.
In the report term, the major market risks of derivate investment
products were the impacts of fluctuation of NDF contracts on the fair
values. However the Company’s purpose to involve in NDF trade was
to lockup the exchange rate and avoid the risks brought by borrowing
of foreign currencies, thus it was on the basis of real borrowings in
foreign currency, its trading amount and timing are matching with the
borrowings of foreign currency and covers the risks. The exchange
rate of the future contract has been fixed as soon as been traded,
therefore the risks are under control.
The Company has established the “Regulations of Trade of Derivate
Financial Instruments” which limited the categories, scale,
authorization, operation procedures, risk control, and information
disclosure over the derivate instruments. It provides a systematic
ground for controlling of risks.
Change of derivate instrument market price or fair value,
information disclosing on the fair value, relative estimation and
setting of indexes
At end of December 2009, the 1-year RMB/USD NDF has quoted
equal to 2.12% of increase, while at end of September 2009, it was
1.81%. The market was expecting an increase on RMB, For the 3rd
quarter of 2010, NDF fair value has caused RMB860 thousand of loss,
the NDF contract handover has caused losses of RMB2.01 million.
Market price basis is adopted by the Company in analyzing ofChina Merchants Property Development Co., Ltd. The 3rd Quarterly Report 2010 (Full Text)
8
derivate instrument fair value, and the fair values are adjusted at end
of each month.
Statement on major alternation in accounting polices and
accounting basis on derivate instruments comparing with last
year
None
Particular comments of the independent directors, sponsors, or
financial consultants on investment of derivate instruments and
risk controlling
Not applicable
3.6.1 Derivate financial instrument stock at end of report term
√ applicable □ not applicable
In RMB Yuan
Category of contracts
Amount of the contract
at beginning of term
Amount of the contract
at end of term
Gain/loss in the report
term
Percentage of value of
contracts on net asset
at end of report term %
Foreign currency future contracts 1,981,741,658.00 2,039,881,851.00 -860,875.91 11.60%
Total 1,981,741,658.00 2,039,881,851.00 -860,875.91 11.60%
§4 Attachments
4.1 Balance Sheet
Prepared by China Merchants Property Development Co., Ltd. Ended September 30, 2010 RMB Yuan
Balance at the end of term Balance at the beginning of year
Items
Consolidated Parent company Consolidated Parent company
Current asset:
Monetary capital 10,887,911,353.00 5,059,549,675.00 9,489,490,935.00 6,268,540,842.00
Settlement provision
Outgoing call loan
Transactional financial assets 498,507.00 6,437,479.00
Notes receivable
Account receivable 92,096,220.00 118,962,896.00
Prepayment 7,924,120.00 8,747,313.00
Insurance receivable
Reinsurance receivable
Provisions of Reinsurance
contracts receivable
Interest receivable
Dividend receivable 1,055,009,983.00 1,090,720,147.00
Other account receivable 1,631,378,252.00 17,916,951,927.00 1,926,509,243.00 12,504,314,805.00
Repurchasing of financial
assets
Inventories 35,465,452,430.00 30,461,181,900.00
Non-current asset due in 1 year 875,493.00 26,754.00
Other current asset 876,456,013.00 624,800,651.00
Total of current asset 48,962,592,388.00 24,031,511,585.00 42,636,157,171.00 19,863,575,794.00
Non-current assets
Loans and payment on other’sChina Merchants Property Development Co., Ltd. The 3rd Quarterly Report 2010 (Full Text)
9
behalf disbursed
Disposable financial asset 5,579,095.00 5,579,095.00 4,898,240.00 4,898,240.00
Expired investment in possess
Long-term receivable 1,110,308,691.00 968,889,413.00 1,062,146,037.00 924,366,671.00
Long-term share equity
investment
598,180,573.00 3,362,681,839.00 616,512,618.00 3,481,655,301.00
Investment properties 2,932,981,817.00 2,787,842,250.00
Fixed assets 185,383,255.00 367,401.00 299,615,954.00 318,634.00
Construction in process 24,273,252.00 19,254,007.00
Engineering goods
Fixed asset disposal
Production physical assets
Gas & petrol
Intangible assets 54,121.00
R&D expense
Goodwill
Long-term amortizable
expenses
169,168,497.00 15,300.00 180,194,127.00 158,628.00
Differed income tax asset 391,591,259.00 290,485,972.00
Other non-current asset
Total of non-current assets 5,417,466,439.00 4,337,533,048.00 5,261,003,326.00 4,411,397,474.00
Total of assets 54,380,058,827.00 28,369,044,633.00 47,897,160,497.00 24,274,973,268.00
Current liabilities
Short-term loans 1,185,455,519.00 801,549,500.00 1,372,929,609.00 630,397,000.00
Loan from Central Bank
Deposit received and hold for
others
Call loan received
Trade off financial liabilities 7,615,914.00 12,829,413.00
Notes payable 292,254,728.00 257,896,108.00
Account payable 1,618,452,777.00 2,705,521,285.00
Prepayment received 9,674,032,846.00 9,498,461,291.00
Selling of repurchased financial
assets
Fees and commissions
receivable
Employees’ wage payable 102,725,600.00 1,106,985.00 162,832,982.00 6,052,306.00
Tax payable 325,606,967.00 9,391,202.00 589,859,453.00 4,514,867.00
Interest payable 96,042,403.00 66,005,148.00 21,872,418.00 9,898,520.00
Dividend payable 22,389,482.00 107,751,887.00
Other account payable 5,882,652,425.00 5,188,031,361.00 5,835,329,987.00 3,928,393,230.00
Reinsurance fee payable
Insurance contract provision
Entrusted trading of securities
Entrusted selling of securities
Non-current liability due in 1
year
1,458,227,246.00 700,000,000.00 1,303,501,721.00 650,000,000.00
Other current liability 2,269,721,192.00 77,559.00 1,843,563,001.00 77,559.00China Merchants Property Development Co., Ltd. The 3rd Quarterly Report 2010 (Full Text)
10
Total of current liability 22,935,177,099.00 6,766,161,755.00 23,712,349,155.00 5,229,333,482.00
Non-current liabilities
Long-term borrowings 10,780,479,724.00 6,785,088,000.00 5,720,303,012.00 4,123,128,000.00
Bond payable
Long-term payable 55,504,227.00 46,469,703.00
Special payable
Contingent liabilities 106,299,637.00 108,052,194.00
Differed income tax liability 961,637.00 961,637.00 731,713.00 731,713.00
Other non-recurring liabilities 4,483,360.00 7,218,243.00
Total of non-current liabilities 10,947,728,585.00 6,786,049,637.00 5,882,774,865.00 4,123,859,713.00
Total of liability 33,882,905,684.00 13,552,211,392.00 29,595,124,020.00 9,353,193,195.00
Owners’ equity (or shareholders’
equity)
Capital paid in (or share
capital)
1,717,300,503.00 1,717,300,503.00 1,717,300,503.00 1,717,300,503.00
Capital reserves 8,488,377,835.00 8,930,978,607.00 8,487,926,904.00 8,930,527,676.00
Less: Shares in stock
Special reserves
Surplus reserves 785,793,010.00 734,841,617.00 785,793,010.00 734,841,617.00
Common risk provision
Retained profit 6,470,050,375.00 3,433,712,514.00 5,214,909,610.00 3,539,110,277.00
Different of foreign currency
translation
124,298,171.00 72,806,727.00
Total of owner’s equity belong to
the parent company
17,585,819,894.00 14,816,833,241.00 16,278,736,754.00 14,921,780,073.00
Minor shareholders’ equity 2,911,333,249.00 2,023,299,723.00
Total of owners’ equity 20,497,153,143.00 14,816,833,241.00 18,302,036,477.00 14,921,780,073.00
Total of liabilities and owners’
equity
54,380,058,827.00 28,369,044,633.00 47,897,160,497.00 24,274,973,268.00
4.2 Income Statement of the report term
Prepared by China Merchants Property Development Co., Ltd. Jul-Sept 2010 in RMB
Amount of the Current Term Amount of the Previous Term
Items
Consolidated Parent company Consolidated Parent company
I. Total revenue 2,603,531,682.00 2,411,599,990.00
Incl. Business income 2,603,531,682.00 2,411,599,990.00
Interest income
Insurance fee earned
Fee and commission
received
II. Total business cost 2,045,986,856.00 1,083,075.00 1,899,194,775.00 -5,917,507.00
Incl. Business cost 1,681,823,998.00 1,423,795,830.00
Interest expense
Fee and commission paid
Insurance discharge
payment
Net claim amount paidChina Merchants Property Development Co., Ltd. The 3rd Quarterly Report 2010 (Full Text)
11
Net insurance policy
reserves provided
Insurance policy dividend
paid
Reinsurance expenses
Business tax and surcharge 264,067,014.00 356,279,134.00
Sales expense 51,472,808.00 59,048,409.00
Administrative expense 54,462,202.00 5,492,202.00 50,722,630.00 6,753,629.00
Financial expenses -5,847,041.00 -4,409,127.00 9,353,850.00 -12,671,136.00
Asset impairment loss 7,875.00 -5,078.00
Plus: Gains from change of fair
value (“-“ for loss)
-30,778,750.00 -6,749,968.00
Investment gain (“-“ for
loss)
13,104,466.00 49,171,156.00 80,327,521.00 -5,043,221.00
Incl. Investment gains
from affiliates
-4,381,817.00 639,400.00 69,233,141.00 -742,855.00
Gains from currency
exchange (“-“ for loss)
III. Operational profit (“-“ for
loss)
539,870,542.00 48,088,081.00 585,982,768.00 874,286.00
Plus: Non business income 3,909,274.00 317,133.00 4,249,938.00
Less: Non-business expenses 3,082,595.00 31,973.00
Incl. Loss from disposal of
non-current assets
120,666.00 -13,799.00
IV. Gross profit (“-“ for loss) 540,697,221.00 48,405,214.00 590,200,733.00 874,286.00
Less: Income tax expenses 150,931,253.00 947,514.00 127,559,974.00
V. Net profit (“-“ for net loss) 389,765,968.00 47,457,700.00 462,640,759.00 874,286.00
Net profit attributable to the
owners of parent company
376,691,534.00 47,457,700.00 474,075,608.00 874,286.00
Minor shareholders’ equity 13,074,434.00 -11,434,849.00
VI. Earnings per share:
(I) Basic earnings per share 0.219 0.276
(II) Diluted earnings per
share
0.219 0.276
VII. Other misc. incomes 37,203,132.00 1,101,908.00 -11,756.00 -11,756.00
VIII. Total of misc. incomes 426,969,100.00 48,559,608.00 462,629,003.00 862,530.00
Total of misc. incomes
attributable to the owners of the
parent company
406,338,049.00 48,559,608.00 474,063,852.00 862,530.00
Total misc gains attributable
to the minor shareholders
20,631,051.00 -11,434,849.00
4.3 Income Statement from the beginning of year to the end of report term
Prepared by China Merchants Property Development Co., Ltd. Jan-Sept 2010 in RMB
Amount of the Current Term Amount of the Previous Term
Items
Consolidated Parent company Consolidated Parent company
I. Total revenue 9,584,685,607.00 5,287,377,216.00
Incl. Business income 9,584,685,607.00 5,287,377,216.00China Merchants Property Development Co., Ltd. The 3rd Quarterly Report 2010 (Full Text)
12
Interest income
Insurance fee earned
Fee and commission
received
II. Total business cost 7,252,650,667.00 -3,787,095.00 4,236,491,338.00 1,463,319.00
Incl. Business cost 5,809,187,731.00 3,052,074,092.00
Interest expense
Fee and commission paid
Insurance discharge
payment
Net claim amount paid
Net insurance policy
reserves provided
Insurance policy dividend
paid
Reinsurance expenses
Business tax and surcharge 1,126,992,261.00 836,763,041.00
Sales expense 163,617,872.00 173,644,402.00
Administrative expense 155,641,596.00 14,708,166.00 141,541,430.00 15,752,466.00
Financial expenses -2,793,807.00 -18,495,261.00 32,581,415.00 -14,289,147.00
Asset impairment loss 5,014.00 -113,042.00
Plus: Gains from change of fair
value (“-“ for loss)
-860,876.00 -115,121,120.00
Investment gain (“-“ for
loss)
38,558,420.00 69,177,015.00 257,788,655.00 -6,868,490.00
Incl. Investment gains
from affiliates
-4,974,053.00 -1,763,851.00 179,118,035.00 -2,568,124.00
Gains from currency
exchange (“-“ for loss)
III. Operational profit (“-“ for
loss)
2,369,732,484.00 72,964,110.00 1,193,553,413.00 -8,331,809.00
Plus: Non business income 12,819,515.00 317,133.00 22,125,313.00
Less: Non-business expenses 8,186,280.00 1,387,639.00
Incl. Loss from disposal of
non-current assets
397,313.00 305,008.00
IV. Gross profit (“-“ for loss) 2,374,365,719.00 73,281,243.00 1,214,291,087.00 -8,331,809.00
Less: Income tax expenses 585,673,458.00 6,948,955.00 269,613,177.00
V. Net profit (“-“ for net loss) 1,788,692,261.00 66,332,288.00 944,677,910.00 -8,331,809.00
Net profit attributable to the
owners of parent company
1,426,870,815.00 66,332,288.00 960,923,356.00 -8,331,809.00
Minor shareholders’ equity 361,821,446.00 -16,245,446.00
VI. Earnings per share:
(I) Basic earnings per share 0.8309 0.5594
(II) Diluted earnings per
share
0.8309 0.5594
VII. Other misc. incomes 75,749,313.00 450,931.00 -236,633.00 1,763,367.00
VIII. Total of misc. incomes 1,864,441,574.00 66,783,219.00 944,441,277.00 -6,568,442.00
Total of misc. incomes
attributable to the owners of the
parent company
1,478,813,190.00 66,783,219.00 960,686,723.00 -6,568,442.00China Merchants Property Development Co., Ltd. The 3rd Quarterly Report 2010 (Full Text)
13
Total misc gains attributable
to the minor shareholders
385,628,384.00 -16,245,446.00
4.4 Cash Flow Statement from the beginning of year to the end of report term.
Prepared by China Merchants Property Development Co., Ltd. Jan-Sept 2010 in RMB
Amount of the Current Term Amount of the Previous Term
Items
Consolidated Parent company Consolidated Parent company
I. Net cash flow from business
operation
Cash received from sales of
products and providing of services
9,768,811,329.00 10,797,563,292.00
Net increase of customer
deposits and capital kept for
brother company
Net increase of loans from
central bank
Net increase of inter-bank
loans from other financial bodies
Cash received against
original insurance contract
Net cash received from
reinsurance business
Net increase of client deposit
and investment
Net increase of trade
financial asset disposal
Cash received as interest,
processing fee, and commission
Net increase of inter-bank
fund received
Net increase of repurchasing
business
Tax returned 15,311,948.00 1,347,949.00
Other cash received from
business operation
1,991,535,324.00 527,535,307.00 1,250,535,398.00 4,197,256,719.00
Sub-total of cash inflow
from business activities
11,775,658,601.00 527,535,307.00 12,049,446,639.00 4,197,256,719.00
Cash paid for purchasing of
merchandise and services
9,334,463,626.00 4,140,838,730.00
Net increase of client trade
and advance
Net increase of savings in
central bank and brother company
Cash paid for original
contract claim
Cash paid for interest,
processing fee and commission
Cash paid for policy
dividend
Cash paid to staffs or paid
for staffs
512,454,736.00 8,088,763.00 353,886,452.00 7,411,012.00
Taxes paid 2,330,350,396.00 14,832,736.00 1,078,187,484.00 1,149,211.00
Other cash paid for business 1,836,456,513.00 2,447,713,601.00 1,324,498,657.00 880,548,883.00China Merchants Property Development Co., Ltd. The 3rd Quarterly Report 2010 (Full Text)
14
activities
Sub-total of cash outflow
from business activities
14,013,725,271.00 2,470,635,100.00 6,897,411,323.00 889,109,106.00
Cash flow generated by
business operation, net
-2,238,066,670.00 -1,943,099,793.00 5,152,035,316.00 3,308,147,613.00
II. Cash flow generated by
investing
Cash received from
investment retrieving
1,522,182.00
Cash received as investment
gains
360,094.00 45,334,075.00 413,971.00
Net cash retrieved from
disposal of fixed assets, intangible
assets, and other long-term assets
90,097.00 160,494.00
Net cash received from
disposal of subsidiaries or other
operational units
171,724,601.00 154,691,540.00
Other investment-related
cash received
75,344,057.00
Sub-total of cash inflow
due to investment activities
172,174,792.00 200,025,615.00 77,440,704.00
Cash paid for construction of
fixed assets, intangible assets and
other long-term assets
22,039,532.00 40,900.00 31,197,012.00
Cash paid as investment 28,125,469.00 10,000,000.00 7,337,852.00
Net increase of loan against
pledge
Net cash received from
subsidiaries and other operational
units
Other cash paid for
investment activities
1,971,145.00
Sub-total of cash outflow
due to investment activities
52,136,146.00 10,040,900.00 38,534,864.00
Net cash flow generated
by investment
120,038,646.00 189,984,715.00 38,905,840.00
III. Cash flow generated by
financing
Cash received as investment 490,673,905.00 75,000,000.00
Incl. Cash received as
investment from minor
shareholders
490,673,905.00 75,000,000.00
Cash received as loans 6,859,617,476.00 1,694,293,000.00 5,037,063,977.00 4,298,346,000.00
Cash received from bond
placing
Other financing-related cash
received
Subtotal of cash inflow
from financing activities
7,350,291,381.00 1,694,293,000.00 5,112,063,977.00 4,298,346,000.00
Cash to repay debts 1,773,897,397.00 794,022,000.00 7,107,178,142.00 5,010,102,100.00
Cash paid as dividend, profit,
or interests
525,785,040.00 354,394,448.00 626,589,538.00 479,459,685.00
Incl. Dividend and profit
paid by subsidiaries to minor
shareholders
256,640,389.00 1,330,292.00China Merchants Property Development Co., Ltd. The 3rd Quarterly Report 2010 (Full Text)
15
Other cash paid for financing
activities
871,199,830.00
Subtotal of cash outflow
due to financing activities
3,170,882,267.00 1,148,416,448.00 7,733,767,680.00 5,489,561,785.00
Net cash flow generated
by financing
4,179,409,114.00 545,876,552.00 -2,621,703,703.00 -1,191,215,785.00
IV. Influence of exchange rate
alternation on cash and cash
equivalents
-14,674,492.00 -1,752,640.00 -438,335.00 -37,684.00
V. Net increase of cash and cash
equivalents
2,046,706,598.00 -1,208,991,166.00 2,568,799,118.00 2,116,894,144.00
Plus: Balance of cash and
cash equivalents at the beginning
of term
8,775,661,067.00 6,268,540,841.00 7,358,057,106.00 4,728,619,945.00
VI. Balance of cash and cash
equivalents at the end of term
10,822,367,665.00 5,059,549,675.00 9,926,856,224.00 6,845,514,089.00
4.5 Auditors’ Report
Auditor’s opinion: not audited.
