China Merchants Port Group Co., Ltd. The Report for the Third Quarter of 2021
Stock Code: 001872/201872 Stock Name: CM Port Group/CM Port Group B Announcement No. 2021-098
CHINA MERCHANTS PORT GROUP CO., LTD.
THE REPORT FOR THE THIRD QUARTER OF 2021
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
Sun Ligan, 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, Shanghai Securities News, Ta Kung Pao (HK) and 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:
Business combination under common control.
YoY YoY
Q3 2020 change Q1-Q3 2020 change
Q3 2021 Q1-Q3 2021
(%) (%)
Original Restated Restated Original Restated Restated
1
China Merchants Port Group Co., Ltd. The Report for the Third Quarter of 2021
Operating 4,047,333,525 3,239,264,119. 3,284,720,164 11,387,276,388 9,161,761,277. 9,247,217,881
23.22% 23.14%
revenue (RMB) .94 14 .24 .20 62 .20
Net profit
attributable to
the listed 756,770,050.9 642,339,845.9 647,576,926.1 2,433,805,397. 1,275,138,431. 1,279,869,012
16.86% 90.16%
company’s 4 3 8 11 76 .34
shareholders
(RMB)
Net profit
attributable to
the listed
company’s
588,153,132.1 605,513,230.5 610,750,310.8 2,232,849,193. 1,150,105,145. 1,154,835,725
shareholders -3.70% 93.35%
9 9 4 16 13 .71
before
exceptional
gains and losses
(RMB)
Net cash
generated
from/used in 4,759,841,014. 3,736,814,020. 3,745,235,630
—— —— —— —— 27.09%
operating 84 41 .79
activities
(RMB)
Basic earnings
per share 0.394 0.334 0.337 16.91% 1.266 0.663 0.666 90.09%
(RMB/share)
Diluted
earnings per
0.394 0.334 0.337 16.91% 1.266 0.663 0.666 90.09%
share
(RMB/share)
Weighted
average return 1.96% 1.81% 1.94% 0.02% 6.38% 3.54% 3.52% 2.86%
on equity (%)
31 December 2020 Change (%)
30 September 2021
Original Restated Restated
Total assets
170,526,198,246.65 168,543,611,777.21 168,728,326,345.77 1.07%
(RMB)
Equity
attributable to
39,081,793,750.60 37,117,806,052.18 37,165,277,744.78 5.16%
the listed
company’s
2
China Merchants Port Group Co., Ltd. The Report for the Third Quarter of 2021
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 before the disclosure of this Report 1,922,365,124
(share)
Fully diluted earnings per share based on the latest total share capital above:
Dividend of preference shares paid No preference shares
Fully diluted earnings per share based on the
1.2660
latest total share capital above (RMB/share)
(II) Exceptional Gains and Losses
Unit: RMB
Item Q3 2021 Q1-Q3 2021 Note
Gain or loss on disposal of non-current assets
-2,106,370.19 2,624,903.57 -
(inclusive of 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 22,622,058.93 314,955,081.46 -
at fixed quotas or amounts as per the government’s
policies and standards)
Capital occupation charges on non-financial
56,890,943.76 175,712,943.64 -
enterprises that are charged to current profit or loss
Current profit or loss on subsidiaries obtained in
business combinations involving enterprises under
-3,255,790.50 -
common control from the period-beginning to
combination dates, net
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
710,254,464.12 221,721,597.67 -
liabilities and 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
receivables which are tested individually for 1,256,056.54 1,350,155.71 -
impairment
Custodian fees earned from entrusted operation 471,698.11 -
Non-operating income and expense other than the 2,387,311.67 21,394,350.94 -
3
China Merchants Port Group Co., Ltd. The Report for the Third Quarter of 2021
above
Less: Income tax effects 255,938,893.38 181,241,337.40 -
Non-controlling interests effects (net of tax) 366,748,652.70 352,777,399.25 -
Total 168,616,918.75 200,956,203.95 --
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.
The Company had no exceptional gains or losses during Q1-Q3 2021.
(III) Changes in Key Financial Statement Line Items and Their Explanation
Unit: RMB
Balance sheet items 30 September 2021 31 December 2020 (restated) Change (%) Explanation of changes
Held-for-trading financial Increase in the net amount of
4,014,175,763.34 850,165,448.59 372.16%
assets structured deposits
Accounts receivable 2,042,295,859.17 1,393,349,417.02 46.57% Increase in revenue
Increase in the net amount of
Other current assets 981,302,467.56 434,074,085.16 126.07%
structured deposits
Transfer of the Haixing
Construction in progress 3,477,770,660.71 5,381,430,606.18 -35.37% intelligent harbor project to fixed
assets
Repayment of short-term
Short-term borrowings 6,265,806,927.57 10,483,775,548.93 -40.23%
borrowings upon maturity
Non-current liabilities due Increase in corporate bonds due
8,375,417,937.37 3,564,587,701.07 134.96%
within one year within one year
New issue of super short-term
Other current liabilities 3,170,996,675.89 2,383,668,985.94 33.03%
commercial papers
Income statement items Q1-Q3 2021 Q1-Q3 2020 (restated) Change (%) Explanation of changes
328,343,162.91 86,867,728.76 277.98% Receipt of government subsidies
Other income
for business development
4,736,067,742.42 2,514,918,383.87 88.32% Increase in the share of profits of
Investment income
associates and joint ventures
Gains from changes in fair 221,721,597.68 -488,315,935.84 145.41% Adjustment to the calculation of
4
China Merchants Port Group Co., Ltd. The Report for the Third Quarter of 2021
value concession royalties payable by
TCP Participaes S.A.
Recognition of income of
Shantou Port from disposal of
Gains on disposal of assets 9,352,429.28 693,724,248.54 -98.65% land in the same period of last
year, with no comparable
income in the current period
Income tax expenses 1,213,675,997.89 612,234,821.19 98.24% Increase in operating income
Cash flow statement items Q1-Q3 2021 Q1-Q3 2020 (restated) Change (%) Explanation of changes
Cash receipts from
disposals and recovery of 8,880,000,000.00 5,802,647,276.82 53.03% Maturity of structured deposits
investments
Cash receipts from
2,694,402,313.30 1,375,104,379.13 95.94% Cash dividends received
investments income
Payment of loan to Terminal
Other cash payments
Link S.A.S. in the same period
relating to investing 16,434,653.35 3,011,289,010.12 -99.45%
of last year, with no comparable
activities
payment in the current period
Cash receipts from Decrease in short-term
15,543,148,136.92 23,726,548,723.25 -34.49%
borrowings borrowings
Payment for the acquisition of a
10% interest in TCP
Other cash payments
Participaes S.A. in the same
relating to financing 13,196,969.01 757,948,189.24 -98.26%
period of last year, with no
activities
comparable payment in the
current period
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
30,134 (18,815 A-shareholders, 11,319 Number of preferred shareholders
Number of ordinary shareholders 0
B-shareholders) with resumed voting rights (if any)
Top 10 shareholders
Shares in
Nature of Shareholding Restricted shares
Name of shareholder Total shares held pledge or
shareholder percentage held
frozen
CHINA MERCHANTS PORT
Foreign legal
INVESTMENT DEVELOPMENT 59.75% 1,148,648,648 1,148,648,648 0
person
COMPANY LIMITED
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China Merchants Port Group Co., Ltd. The Report for the Third Quarter of 2021
CHINA MERCHANTS GANGTONG
State-owned legal
DEVELOPMENT (SHENZHEN) 19.29% 370,878,000 0 0
person
CO., LTD.
SHENZHEN INFRASTRUCTURE
INVESTMENT FUND-SHENZHEN
Funds, wealth
INFRASTRUCTURE
management 3.37% 64,850,182 0 0
INVESTMENT FUND
products, etc.
PARTNERSHIP (LIMITED
PARTNERSHIP)
CHINA-AFRICA DEVELOPMENT State-owned legal
3.33% 64,102,564 0 0
FUND person
State-owned legal
BROADFORD GLOBAL LIMITED 2.88% 55,314,208 0 0
person
HONG KONG SECURITIES Foreign legal
0.18% 3,425,583 0 Unknown
CLEARING COMPANY LTD. person
Domestic natural
ZHU HUI 0.15% 2,958,003 0 Unknown
person
CHINA MERCHANTS State-owned legal
0.13% 2,573,555 0 Unknown
SECURITIES (HK) CO., LTD. person
ARROWSTREET EMERGING
Foreign legal
MARKET ALPHA EXTENSION 0.12% 2,247,991 0 Unknown
person
TRUST FUND
Domestic natural
JIN XING 0.11% 2,166,700 0 Unknown
person
Top 10 unrestricted shareholders
Shares by type
Name of shareholder Unrestricted ordinary shares held
Type Shares
CHINA MERCHANTS GANGTONG
RMB ordinary
DEVELOPMENT (SHENZHEN) 370,878,000 370,878,000
share
CO., LTD.
SHENZHEN INFRASTRUCTURE
INVESTMENT FUND-SHENZHEN
INFRASTRUCTURE RMB ordinary
64,850,182 64,850,182
INVESTMENT FUND share
PARTNERSHIP (LIMITED
PARTNERSHIP)
CHINA-AFRICA DEVELOPMENT RMB ordinary
64,102,564 64,102,564
FUND share
Domestically
BROADFORD GLOBAL LIMITED 55,314,208 55,314,208
listed foreign
6
China Merchants Port Group Co., Ltd. The Report for the Third Quarter of 2021
share
HONG KONG SECURITIES RMB ordinary
3,425,583 3,425,583
CLEARING COMPANY LTD. share
RMB ordinary
ZHU HUI 2,958,003 2,958,003
share
Domestically
CHINA MERCHANTS
2,573,555 listed foreign 2,573,555
SECURITIES (HK) CO., LTD.
share
ARROWSTREET EMERGING Domestically
MARKET ALPHA EXTENSION 2,247,991 listed foreign 2,247,991
TRUST FUND share
Domestically
JIN XING 2,166,700 listed foreign 2,166,700
share
RMB ordinary
MAI SHUQING 2,129,247 2,129,247
share
China Merchants Gangtong Development (Shenzhen) Co., Ltd. is a controlled subsidiary of
Related or acting-in-concert parties Broadford Global Limited, and Broadford Global Limited is the controlling shareholder of
among the shareholders above China Merchants Port Investment Development Company Limited. The Company does not
know whether the other unrestricted shareholders are related parties or not.
Top 10 shareholders engaged in
N/A
securities margin trading (if any)
Indicate by tick mark whether any of the top 10 ordinary shareholders or the top 10 unrestricted ordinary
shareholders of the Company conducted any promissory repo during the Reporting Period.
□ Yes √ No
No such cases in the Reporting Period.
(II) Numbe r of Preferred Shareholders and Shareholdings of Top 10 of Them
□ Applicable √ Not applicable
III Other Significant Events
(I) Private Placement of A-shares and Subscription of Shares in Ningbo Port
On 13 July 2021, the Proposal on the Plan for Private Placement of A-shares, the Proposal on Subscription by the
Company as a Strategic Investor of Shares in a Private Placement of Ningbo Zhoushan Port Company Limited &
Related-party Transaction, and other relevant proposals were approved unanimously at the 6 th Extraordinary
Meeting of the Company’s 10th Board of Directors in 2021, and the 3rd Extraordinary Meeting of the Company’s
7
China Merchants Port Group Co., Ltd. The Report for the Third Quarter of 2021
10th Supervisory Committee in 2021, respectively. As such, the Company was agreed to introduce Zhejiang
Provincial Seaport Investment & Operation Group Co. Ltd. (Seaport Group) as a strategic investor by carrying out
a private placement of 577,000,000 A-shares (or 30% of the Company’s total share capital before the issue) to
Seaport Group to raise RMB10.917 billion. Meanwhile, the Company was agreed to subscribe for in cash, as a
strategic investor, 3,646,971,029 A-shares in the 2021 private placement of Ningbo Zhoushan Port Company
Limited (Ningbo Port). For further information, see Announcement No. 2021-053 on the Resolutions of the 6th
Extraordinary Meeting of the 10th Board of Directors in 2021, Announcement No. 2021-054 on the Resolutions of
the 3rd Extraordinary Meeting of the 10th Supervisory Committee in 2021, Announcement No. 2021-057 on
Subscription by the Company as a Strategic Investor of Shares in a Private Placement of Ningbo Zhoushan Port
Company Limited & Related-party Transaction, and other relevant announcements disclosed by the Company
dated 14 July 2021.
On 26 August 2021, the Company disclosed that it had received the Reply on the Private Placement of A-shares of
China Merchants Port Group Co., Ltd. (Guo Zi Chan Quan [2021] No. 457) issued by the State-owned Assets
Supervision and Administration Commission of the State Council, which in principle consented to the plan of the
Company for a private placement of no more than 576,709,537 A-shares to Zhejiang Provincial Seaport
Investment & Operation Group Co. Ltd. (SS). For further information, see Announcement No. 2021-070 on
Approval of Private Placement of A-shares by SASAC of the State Council disclosed by the Company dated 27
August 2021.
On 27 September 2021, the proposals in relation to the private placement of A-shares were approved at the 1st
Extraordinary General Meeting of the Company in 2021. For further information, see Announcement No.
2021-087 on Announcement on Resolutions of the 1st Extraordinary General Meeting of 2021 disclosed by the
Company dated 28 September 2021.
(II) Progress, Influence and Solutions in respect of Significant Events
1. Index to Information Disclosure
In the Reporting Period, the Company disclosed the following significant events:
8
China Merchants Port Group Co., Ltd. The Report for the Third Quarter of 2021
Announcement No. Date Title
Announcement on the Resolutions of the 5th Extraordinary Meeting of the 10th Board of
2021-051 1 July 2021
Directors in 2021
Announcement on 2021 Interest Payment for 2020 Public Offering of Corporate Bonds
2021-052 1 July 2021
(Tranche 1) to Qualified Investors
Announcement on the Resolutions of the 6th Extraordinary Meeting of the 10th Board of
2021-053 14 July 2021
Directors in 2021
Announcement on the Resolutions of the 3rd Extraordinary Meeting of the 10th
2021-054 14 July 2021
Supervisory Committee in 2021
Announcement on Signing Conditionally Effective Share Subscription Agreement with
2021-055 14 July 2021
Certain Entities & Related-party Transaction
Announcement on Signing Strategic Cooperation Framework Agreement with Zhejiang
2021-056 14 July 2021
Provincial Seaport Investment & Operation Group Co. Ltd.
Announcement on Subscription by the Company as a Strategic Investor of Shares in a
2021-057 14 July 2021 Private Placement of Ningbo Zhoushan Port Company Limited & Related-party
Transaction
Announcement on No Punishments or Other Regulatory Measures from the Securities
2021-058 14 July 2021
Regulator or the Stock Exchange in the Past 5 Years
2021-059 14 July 2021 Reminder on Changes in Shareholders’ Equity in a Private Placement
2021-060 15 July 2021 Announcement on Estimated Increase in 2021 Interim Earnings
2021-061 15 July 2021 Announcement on Voluntary Disclosure of the Business Volume Data of June 2021
2021-062 15 July 2021 Announcement on Payout of 2020 Final Dividends
2021-063 17 July 2021 Reminder on the 4th Issue of SCP in 2021
2021-064 21 July 2021 Announcement on Results of the 4th Issue of SCP in 2021
2021-065 7 August 2021 Announcement on Resignation of Deputy General Manager Mr. Zheng Shaoping
2021-066 14 August 2021 Announcement on Voluntary Disclosure of the Business Volume Data of July 2021
2021-067 14 August 2021 Announcement on Resignation of Chairman of the Supervisory Committee
Announcement on the Resolutions of the 7th Extraordinary Meeting of the 10th Board of
2021-068 24 August 2021
Directors in 2021
9
China Merchants Port Group Co., Ltd. The Report for the Third Quarter of 2021
Announcement on Resignation of Director and Senior Management & Re-election of
2021-069 24 August 2021
Director and Appointment of CEO
Announcement on Approval of Private Placement of A-shares by SASAC of the State
2021-070 28 August 2021
Council
2021-071 31 August 2021 Announcement on the Resolutions of the 4th Meeting of the 10th Board of Directors
2021-072 31 August 2021 Announcement on the Resolutions of the 4th Meeting of the 10th Supervisory Committee
Interim Report 2021 (Summary) (Chinese Version)
2021-073 31 August 2021
Interim Report 2021 (Summary) (English Version)
2021-074 31 August 2021 Special Report of the Deposit and Use of Raised Funds for H1 2021
Announcement on Incorporation of HK Wholly-owned Subsidiary and Adjustment to
2021-075 31 August 2021
Ownership Structure of the Subsidiary
Announcement on Adjustments to the Deposit and Loan Limits with China Merchants
2021-076 31 August 2021
Bank & Related-party Transaction
2021-077 31 August 2021 Announcement on Release of 2021 Interim Results by Majority-owned Subsidiary
2021-078 31 August 2021 Announcement on Online Investor Meeting on 2021 Interim Results
Announcement on the Resolutions of the 8th Extraordinary Meeting of the 10th Board of
2021-079 9 September 2021
Directors in 2021
Announcement on the Resolutions of the 4th Extraordinary Meeting of the 10th
2021-080 9 September 2021
Supervisory Committee in 2021
Announcement on Majority-owned Subsidiary Signing Supplementary Agreement to
2021-081 9 September 2021
Lease Agreement Regarding Concessions
2021-082 9 September 2021 Notice of the 1st Extraordinary General Meeting of 2021
Announcement on Alteration of Registered Information with Industry and Commerce
2021-083 14 September 2021
Administration
关于完成工商变更登记的公告
2021-084 15 September 2021 Announcement on Voluntary Disclosure of the Business Volume Data of August 2021
2021-085 23 September 2021 Announcement on Redemption of the 2nd Issue of SCP in 2021 upon Maturity
2021-086 25 September 2021 Reminder on the 5th Issue of SCP in 2021
10
China Merchants Port Group Co., Ltd. The Report for the Third Quarter of 2021
2021-087 28 September 2021 Announcement on Resolutions of the 1st Extraordinary General Meeting of 2021
Announcement on the Resolutions of the 9th Extraordinary Meeting of the 10th Board of
2021-088 28 September 2021
Directors in 2021
2021-089 29 September 2021 Announcement on Results of the 5th Issue of SCP in 2021
2. Progress of any Share Repurchase
□ Applicable √ Not applicable
3. Progress of any Reduction of the Repurchased Shares through Centralized Bidding
□ Applicable √ Not applicable
(III) Financial Investments
1. Securities Investments
Unit: RMB
Gain/loss on Cumulative
Purchased
Initial Accounting Beginning fair value fair value Sold in the Ending Accou Funding
Variety of Code of Name of in the Gain/loss in the
investme measurement carrying changes in changes Reporting carrying nting
securities securities securities Reporting Reporting Period
nt cost method value the Reporting recorded into Period value title source
Period
Period equity
Held-f
or-tra
Qingdao 331,404, Fair value 720,160,000 -69,440,000 650,720 ding Self-fun
Stock 601298 - - - 29,366,400.00
Port 250.30 method .00 .00 ,000.00 financ ded
ial
assets
Held-f
or-tra
Qingdao 124,405, Fair value 166,225,139 -24,736,441 139,242 ding Self-fun
Stock 06198 - - - 10,812,917.01
Port 138.80 method .77 .54 ,228.69 financ ded
ial
assets
Invest
ment
Jiangsu in
1,120,00 Fair value 10,786,800. 10,296, Self-fun
Stock 600377 Expressw - -367,500.00 - - 460,000.00 other
0.00 method 00 800.00 ded
ay equity
instru
ments
Invest
Petroche 3,500,00 Fair value 382,200 ment Self-fun
Stock 400032 382,200.00 - - - - -
micalA1 0.00 method .00 in ded
other
11
China Merchants Port Group Co., Ltd. The Report for the Third Quarter of 2021
equity
instru
ments
Held-f
or-tra
Antong 391,956. Fair value 175,763 ding Self-fun
Stock 600179 Holdings 165,448.59 10,311.74 - - - -
73 method .34 financ ded
ial
assets
Invest
ment
in
Guang 27,500.0 Fair value 17,000. Self-fun
Stock 400009 Jian 1 17,000.00 - - - - - other
0 method 00 ded
equity
instru
ments
460,848, 897,736,588 -94,166,129 800,833
Total -- -367,500.00 - - 40,639,317.01 -- --
845.83 .36 .80 ,992.03
2. Investments in Derivative Financial Instrume nts
□ Applicable √ Not applicable
No such cases in the Reporting Period.
(IV) Progress of Projects Financed with Raised Funds
1. Funds Raised through Private Placement of Shares
Pursuant to the Reply of China Securities Regulatory Commission on the Approval of Shenzhen Chiwan Wharf
Holdings Limited Offering Shares to China Merchants Investment Development Company Limited for Asset
Acquisition and Raising the Matching Funds (ZJXK [2018] No. 1750) dated 31 October 2018, the Company
issued, in a private placement, a total of 128,952,746 shares of RMB-denominated ordinary shares (A-shares) to
two entities including China-Africa Development Fund at RMB17.16/share, raising a total of
RMB2,212,829,121.36 (with the net amount after deducting issuance costs being RMB2,185,997,340.15).
Following the arrival of the aforesaid funds, BDO China Shu Lun Pan Certified Public Accountants LLP issued a
Capital Verification Report (XKSBZ [2019] No. ZI10673).
12
China Merchants Port Group Co., Ltd. The Report for the Third Quarter of 2021
As of 30 September 2021, a total of RMB9,126,206,468.29 of raised funds have been used, including: (1)
RMB582,722,414.48 as the replacement for the self-financings that had been in advance input into project to be
financed by raised funds; (2) RMB986,652,272.60 (after the arrival of the raised funds) for the Haixing Harbor
Renovation Project (Phase II), with RMB324,533,139.29 in 2019, RMB424,734,590.46 in 2020, and
RMB237,384,542.85 in Q1-Q3 2021; (3) RMB26,831,781.21 as issuance costs; (4) RMB6,630,000,000.00 was
used for purchasing structured deposits, including RMB1,200,000,000.00 in 2019, RMB2,650,000,000.00 in 2020,
and RMB2,780,000,000.00 in Q1-Q3 2021; and (5) RMB900,000,000.00 was used for purchasing seven-day
notice deposits, including RMB900,000,000.00 in Q1-Q3 2021.
As of 30 September 2021, the interest income in the account of raised funds minus service charges stood at
RMB2,107,035.43 (2019: RMB795,775.14; 2020: RMB1,142,652.22; Q1-Q3 2021: RMB168,608.07). The
amount of structured deposits redeemed was RMB6,130,000,000.00 (2019: RMB100,000,000.00; 2020:
RMB2,950,000,000.00; Q1-Q3 2021: RMB3,080,000,000.00). The amount of income from structured deposits
was RMB36,243,726.02 (2019: RMB302,465.75; 2020: RMB28,538,767.13; Q1-Q3 2021: RMB7,402,493.14).
The amount of seven-day notice deposits redeemed was RMB759,000,000.00 (Q1-Q3 2021:
RMB759,000,000.00). The amount of income from seven-day notice deposits was RMB3,270,375.00.
As of 30 September 2021, the balance in the account of raised funds amounted to RMB658,243,789.52. The use
and balance of the raised funds are as follows:
Unit: RMB
Item Amount
Opening balance of raised funds (31 December 2020) 884,786,856.16
Less: raised funds that were directly used for project to be
237,384,542.85
financed by raised funds in Q1-Q3 2021
Add: Income from structured deposits in Q1-Q3 2021 7,402,493.14
Income from seven-day notice deposits in Q1-Q3 2021 3,270,375.00
Net interest income from raised funds in Q1-Q3 2021 168,608.07
Closing balance of raised funds (30 September 2021) 658,243,789.52
2. Funds Raised through Corporate Bonds
13
China Merchants Port Group Co., Ltd. The Report for the Third Quarter of 2021
On 7 July 2020, the Company issued RMB 2 billion of corporate bonds at the Shenzhen Stock Exchange, with a
coupon rate of 3.36% and a term of three years. The funds raised would be used to acquire 1,606,855,919 ordinary
shares in Zhanjiang Port (Group) Co., Ltd. (accounting for 27.3544% of Zhanjiang Port’s total issued shares) from
the issuer’s wholly-owned subsidiary Chiwan Wharf Holdings (Hong Kong) Limited. As of 30 September 2021,
the handover of the said equity interests has been completed. The first interest payment for the said corporate
bonds was completed on 8 July 2021.
(V) Communications with the Investment Community such as Researches, Inquiries and
Interviews Received during the Reporting Period
Type of
Way of Index to basic
commun
Date Place communic Communication party information of
ication
ation researches
party
Changjiang Securities, Essence
Securities, Ping An Asset Management,
Haitong Securities, Kymco Capital,
China
Minsen Investment, Golden Eagle
Merchants Instituti Basic business
31 August 2021 By phone Fund, Hotland Innovation Asset
Port on condition, investments
Management, Greenwoods Asset,
Building and the financial
Zhaofeng Investment, Congrong
condition of the
Investment, Foresight Investment,
Company;
Southern Raytai Fund, Taiping Fund
Materials provided:
By phone,
None;
or written
Index: SZSE EasyIR
China inquiry
(http://irm.cninfo.com.
1 July 2021 to 30 Merchants (the Individu
- cn/ircs/index)
September 2021 Port EasyIR al
Building platform
of SZSE
or email)
Times of communications 35
Number of institutions communicated with 14
Number of individuals communicated with 34
Number of other communication parties 0
Tip-offs or leakages of substantial confidential information during the communications No
14
China Merchants Port Group Co., Ltd. The Report for the Third Quarter of 2021
(VI) Progress Made on Internal Control
The focuses of risk control for Q3 2021 are as follows:
1. Establishme nt of internal control system
One unit was newly included as one of the ninth batch of units in 2021. As of 30 September 2021, a total of 25
units have been included in the risk control system to evaluate, covering all enterprises controlled by the Company.
Based on the personnel changes of the Company and its subsidiaries, the list of members of the leading group and
working group for risk management and internal control self-assessment was adjusted.
2. Further Improve ment in coverage of internal control evaluation process
In 2021, 22 subsidiaries included in the Company’s internal control system to self-evaluate as the first to eighth
batch of units have completed the sorting out of all 12 business processes so as to make the internal control
evaluation cover the core business of the Company; Ningbo Daxie China Merchants International Container
Terminal Co., Ltd., newly added as one of the ninth batch of subordinate units, is sorting out 7 core processes
(production management, sales and marketing, outsourcing management, contract management, procurement
management, capital management and project management) and preparing the process manual to make the
internal control process compliant.
3. Carrying out the establishment and evaluation of internal control system on a regular basis
As of 30 September 2021, all units have renewed their internal control self-evaluation working papers in
accordance with the annual internal control evaluation plan and changes in business process and carried out the
internal control self-evaluation work on a quarterly basis. The internal control working group of the Company has
reviewed the internal control working papers submitted by each unit and notified the problems existing in the
self-evaluation of each unit.
4. Completing the internal control as planned
The Company has prepared the Report of China Merchants Port Group Co., Ltd. on Internal Control System
Evaluation of 2020. At the same time, it has cooperated with the external internal control audit project team to
complete the internal control audit and obtained the internal control audit report on time. The Company worked
out the “Three-year Coverage” work plan for supervising and inspecting internal control systems for all
15
China Merchants Port Group Co., Ltd. The Report for the Third Quarter of 2021
subsidiaries incorporated into the Company’s internal control system and intended to conduct the supervision and
inspection of eight units of them in 2021. As of 30 September 2021, the supervision and inspection on the internal
control system of six subsidiaries have been completed with the internal control evaluation defect lists.
(VII) Deposits in and Loans Provided by a Finance Company
The Proposal on Signing Financial Service Agreement with Sinotrans & CSC Finance Co., Ltd. was reviewed and
approved on the 2nd 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.
The Proposal on Adjusting Limit of Deposits and Loans and Signing Supplementary Agreement to Financial
Service Agreement with China Merchants Group Finance Co., Ltd and the Related-party Transactions was
reviewed and approved on the 5th Meeting of the 9th Board of Directors held by the Company on 28 March 2019,
in which, the Company was agreed to signed Supplementary Agreement to Financial Service Agreement with
China Merchants Group Finance Co., Ltd.
The Proposal on Adjusting Limit of Deposits and Loans and Signing Supplementary Agreement II to Financial
Service Agreement with China Merchants Group Finance Co., Ltd and the Related-party Transactions was
reviewed and approved on the 4th Extraordinary General Meeting of 2019 held by the Company on 11 December
2019, in which, the Company was agreed to signed Supplementary Agreement II to Financial Service Agreement
with China Merchants Group Finance Co., Ltd.
At the end of the Reporting Period, deposits in and loans provided by China Merchants Group Finance Co., Ltd.
were as follows:
Unit: RMB’0,000
Item Beginning balance Q1-Q3 Increase Q1-Q3 Decrease Ending balance
I. Deposits in China Merchants Group Finance Co., Ltd. 156,892.42 781,893.88 847,974.27 90,812.03
II. Loans provided by China Merchants Group Finance
312,156.42 154,411.13 368,916.34 97,651.21
Co., Ltd.
16
China Merchants Port Group Co., Ltd. The Report for the Third Quarter of 2021
IV Financial Statements
(I) Financial Statements
1. Consolidated Balance Sheet
Prepared by China Merchants Port Group Co., Ltd.
30 September 2021
Unit: RMB
Item 30 September 2021 31 December 2020 (restated)
Current assets:
Cash and bank balances 9,422,998,745.09 11,918,423,758.71
Settlement reserve
Interbank loans granted
Held-for-trading financial assets 4,014,175,763.34 850,165,448.59
Derivative financial assets
Notes receivable 22,898,302.97 5,391,994.84
Accounts receivable 2,042,295,859.17 1,393,349,417.02
Receivables financing 273,181,118.99 217,449,966.41
Prepayments 100,688,610.61 51,217,870.43
Premiums receivable
Reinsurance receivables
Receivable reinsurance contract
reserve receivables 3,621,063,795.90 3,561,292,313.98
Including: Interest receivable
Dividend receivable 372,525,685.67 258,137,208.69
Financial assets purchased under
resale agreements 225,395,762.09 214,823,976.30
Contract assets
Assets held for sale 337,442,757.28 337,442,757.28
Non-current assets due within one 47,819,561.11 67,692,473.44
yearOther current assets 981,302,467.56 434,074,085.16
Total current assets 21,089,262,744.11 19,051,324,062.16
Non-current assets:
Loans and advances to customers
Investments in debt obligations
Investments in other debt obligations
Long-term receivables 3,526,219,158.58 3,887,949,993.10
Long-term equity investments 68,054,780,857.48 66,242,411,222.90
Investments in other equity 180,977,057.74 181,467,057.74
instruments financial assets 814,384,541.48 910,807,452.56
17
China Merchants Port Group Co., Ltd. The Report for the Third Quarter of 2021
Investment properties 5,417,725,647.58 5,558,755,275.21
Fixed assets 30,938,571,995.47 29,479,755,159.21
Construction in progress 3,477,770,660.71 5,381,430,606.18
Productive living assets
Oil and gas assets
Right-of-use assets 8,791,549,452.75 9,087,741,812.94
Intangible assets 18,053,369,986.13 18,772,180,542.10
Development expenditure 88,895,127.03 64,237,735.23
Goodwill 6,587,100,200.23 6,675,939,930.13
Long-term prepaid expenses 891,158,072.07 874,999,735.91
Deferred tax assets 385,940,282.32 420,857,076.76
Other non-current assets 2,228,492,462.97 2,138,468,683.64
Total non-current assets 149,436,935,502.54 149,677,002,283.61
Total assets 170,526,198,246.65 168,728,326,345.77
Current liabilities:
Short-term borrowings 6,265,806,927.57 10,483,775,548.93
Borrowings from the central bank
Interbank loans obtained
Held-for-trading financial liabilities
Derivative financial liabilities
Notes payable 4,272,355.53 7,081,772.32
Accounts payable 696,026,194.96 607,972,699.59
Receipts in advance 9,649,369.15 39,510,127.90
Contract liabilities 222,220,344.65 157,442,109.67
Financial assets sold under
repurchase agreementsand interbank
deposits
Payables for acting trading of
securities for underwriting of
securities benefits payable 798,093,830.69 726,897,125.42
Taxes payable 2,586,853,498.95 2,370,258,689.99
Other payables 3,224,425,462.87 2,481,217,568.40
Including: Interest payable
Dividends payable 1,052,581,499.32 70,388,849.49
Handling charges and commissions
payable payables
Liabilities directly associated with
assets held for sale due within one
8,375,417,937.37 3,564,587,701.07
year
Other current liabilities 3,170,996,675.89 2,383,668,985.94
Total current liabilities 25,353,762,597.63 22,822,412,329.23
18
China Merchants Port Group Co., Ltd. The Report for the Third Quarter of 2021
Non-current liabilities:
Insurance contract reserve
Long-term borrowings 7,381,989,561.96 7,406,322,693.81
Bonds payable 17,295,108,554.84 21,090,545,845.56
Including: Preferred shares
Perpetual bonds
Lease liabilities 1,160,833,898.37 1,327,850,984.08
Long-term payables 1,208,843,008.56 1,228,461,573.69
Long-term employee benefits 483,414,438.19 507,714,699.46
payable 167,434,030.76 100,406,745.66
Deferred income 1,086,564,159.69 1,113,180,823.99
Deferred tax liabilities 4,465,995,190.02 4,347,553,142.73
Other non-current liabilities 2,494,308,561.24 2,982,220,894.03
Total non-current liabilities 35,744,491,403.63 40,104,257,403.01
Total liabilities 61,098,254,001.26 62,926,669,732.24
Shareholders' equity:
Share capital 1,922,365,124.00 1,922,365,124.00
Other equity instruments
Including: Preferred shares
Perpetual bonds
Capital reserve 23,295,617,732.36 22,839,598,324.56
Less: Treasury stock
Other comprehensive income -1,076,173,923.64 -826,697,303.06
Special reserve 16,867,746.91 10,201,178.30
Surplus reserves 890,690,322.28 890,690,322.28
General reserve
Unappropriated profit 14,032,426,748.69 12,329,120,098.70
Total shareholders' equity attributable to
39,081,793,750.60 37,165,277,744.78
shareholders of the parent
Minority interests 70,346,150,494.79 68,636,378,868.75
Total shareholders' equity 109,427,944,245.39 105,801,656,613.53
Total liabilities and shareholders' equity 170,526,198,246.65 168,728,326,345.77
Legal Representative: Wang Xiufeng
Chief Financial Officer: Tu Xiaoping
Head of Accounting Department: Sun Ligan
19
China Merchants Port Group Co., Ltd. The Report for the Third Quarter of 2021
2. Consolidated income statement for Q1~Q3
Unit: RMB
Item Q1~Q3 2021 Q1~Q3 2020 (restated)
1. Operating income 11,387,276,388.20 9,247,217,881.20
Including: Operating income 11,387,276,388.20 9,247,217,881.20
Interest income
Premium income
Handling charge and commission income
2. Costs and expenses 9,131,716,482.40 8,217,625,503.24
Including: Operating costs 6,548,603,891.39 5,713,339,462.97
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 133,990,419.75 119,699,869.79
Selling expense
Administrative expenses 1,172,298,701.24 1,133,073,801.82
Research and development expenses 144,232,447.88 111,332,290.36
Finance expenses 1,132,591,022.14 1,140,180,078.30
Including: Interest expense 1,351,792,050.87 1,485,045,813.18
Interest income 279,112,021.80 232,187,519.66
Add: Other income 328,343,162.91 86,867,728.76
Investment income (Loss is marked with "-") 4,736,067,742.42 2,514,918,383.87
Including: Income from investments in associates
4,663,792,324.91 2,360,720,358.35
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
221,721,597.68 -488,315,935.84
with "-" )
Gains from impairment of credit (Loss is marked
-2,687,424.43 -861,941.16
with "-" )
Gains from impairment of assets (Loss is marked
0.00 947,693.77
with "-" )
Gains on disposal of assets (Loss is marked with "-" ) 9,352,429.28 693,724,248.54
3. Operating profit (Loss is marked with "-") 7,548,357,413.66 3,836,872,555.90
Add: Non-operating income 33,883,439.32 36,812,886.60
20
China Merchants Port Group Co., Ltd. The Report for the Third Quarter of 2021
Less: Non-operating expenses 18,602,014.05 31,024,511.92
4. Gross profit (Loss is marked with "-") 7,563,638,838.93 3,842,660,930.58
Less: Income tax expenses 1,213,675,997.89 612,234,821.19
5. Net profit (Loss is marked with "-") 6,349,962,841.04 3,230,426,109.39
5.1 Categorization by continuity of operation
5.1.1 Net profit from continuing operation (Loss is
6,349,962,841.04 3,230,426,109.39
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 2,433,805,397.11 1,279,869,012.34
5.2.2 Profit or loss attributable to minority shareholders 3,916,157,443.93 1,950,557,097.05
6. Other comprehensive income, net of tax -814,503,149.36 -1,796,050,700.29
Other comprehensive income attributable to owners of the
-248,982,700.94 -559,234,512.22
parent, net of tax
6.1 Other comprehensive income that will not be
-574,136.83 -1,261,655.72
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
-206,636.83 -1,146,755.72
reclassified to profit or loss under the equity method
6.1.3 Fair value changes of investments in other equity
-367,500.00 -114,900.00
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 reclassified
-248,408,564.11 -557,972,856.50
subsequently to profit or loss
6.2.1 Other comprehensive income that can be
-22,030,401.63 31,965,904.16
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
-226,378,162.48 -589,938,760.66
denominated in foreign currencies
6.2.7 Other
Other comprehensive income attributable to minority
-565,520,448.42 -1,236,816,188.07
interests, net of tax
7. Total comprehensive income attributable to 5,535,459,691.68 1,434,375,409.10
21
China Merchants Port Group Co., Ltd. The Report for the Third Quarter of 2021
Shareholders of the parent 2,184,822,696.17 720,634,500.12
Minority shareholders 3,350,636,995.51 713,740,908.98
8. Earnings per share
8.1 Basic earnings per share 1.266 0.666
8.2 Diluted earnings per share 1.266 0.666
22
China Merchants Port Group Co., Ltd. The Report for the Third Quarter of 2021
3. Consolidated Cash Flow Statement for Q1~Q3
Unit: RMB
Item Q1~Q3 2021 Q1~Q3 2020 (restated)
1. Cash flows from operating activities:
Cash receipts from sales of goods and rendering of services 10,888,133,177.65 8,959,720,002.58
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 98,009,957.10 15,314,795.60
Other cash receipts relating to operating activities 806,276,880.40 853,770,966.24
Sub-total of cash inflows 11,792,420,015.15 9,828,805,764.42
Cash payments for goods purchased and services received 3,059,419,442.45 2,590,413,953.61
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
Net increase in interbank loans granted
Interest, handling charges and commissions paid
Policy dividends paid
Cash payments to and on behalf of employees 2,364,304,903.63 2,086,495,070.57
Payments of various types of taxes 1,019,507,748.75 790,669,285.29
Other cash payments relating to operating activities 589,346,905.48 615,991,824.16
Sub-total of cash outflows 7,032,579,000.31 6,083,570,133.63
Net Cash Flows from Operating Activities 4,759,841,014.84 3,745,235,630.79
2. Cash flows from investing activities:
Cash receipts from disposals and recovery of investments 8,880,000,000.00 5,802,647,276.82
Cash receipts from investments income 2,694,402,313.30 1,375,104,379.13
Net cash receipts from disposal of fixed assets, intangible assets
72,796,360.75 373,091,292.57
and other long-term assets
Net cash receipts from disposal of subsidiaries and other
operating units
23
China Merchants Port Group Co., Ltd. The Report for the Third Quarter of 2021
Other cash receipts relating to investing activities 437,177,590.74 978,146,461.61
Sub-total of cash inflows 12,084,376,264.79 8,528,989,410.13
Cash payments to acquire or construct fixed assets, intangible
1,634,283,903.07 1,856,157,208.39
assets and other long-term assets
Cash payments to acquire investments 12,757,321,671.10 10,944,362,282.33
Net increase in pledged loans granted
Net cash payments for acquisitions of subsidiaries and other
business units
Other cash payments relating to investing activities 16,434,653.35 3,011,289,010.12
Sub-total of cash outflows 14,408,040,227.52 15,811,808,500.84
Net cash flows from investing activities -2,323,663,962.73 -7,282,819,090.71
3. Cash flows from financing activities:
Cash receipts from capital contributions 1,960,000.00
Including: Cash receipts from capital contributions from
1,960,000.00
Minority shareholder of subsidiary
Cash receipts from borrowings 15,543,148,136.92 23,726,548,723.25
Other cash receipts relating to financing activities 1,877,099,037.43
Sub-total of cash inflows 15,545,108,136.92 25,603,647,760.68
Cash repayments of borrowings 17,826,164,384.14 17,803,978,213.32
Cash payments for distribution of dividends or profits or
2,584,070,937.80 2,537,837,832.05
settlement of interest expenses
Including: Payments for distribution of dividends or profits to
986,496,128.84 787,156,872.11
Minority shareholder of subsidiary
Other cash payments relating to financing activities 13,196,969.01 757,948,189.24
Sub-total of cash outflows 20,423,432,290.95 21,099,764,234.61
Net cash flows from financing activities -4,878,324,154.03 4,503,883,526.07
4. Effect of foreign exchange rate changes on cash and cash
-74,581,012.67 -64,516,925.71
equivalents
5. Net increase in cash and cash equivalents -2,516,728,114.59 901,783,140.44
Add: Opening balance of Cash and Cash Equivalents 11,899,943,358.25 7,787,660,214.80
6. Closing balance of cash and cash equivalents 9,383,215,243.66 8,689,443,355.24
24
China Merchants Port Group Co., Ltd. The Report for the Third Quarter of 2021
(II) Adjustments to the Financial Statements
1. Adjustments to the Financial Statements at the Beginning of the Initial Execution Year of
the New Standards Governing Leases from 2021
□ Applicable √ Not applicable
2. Retrospective Restatement of Previous Comparative Data due to the Initial Execution of
the New Standards Governing Leases from 2021
□ Applicable √ Not applicable
(III) Inde pendent 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.
30 October 2021
25
