China Merchants Property Development Co., Ltd. Report Q1 2015
Stock code: 000024, 200024 Stock short name: CMPD, CM-B
Announcement No.: [CMPD] 2015－030
China Merchants Property Development Co., Ltd. Report Q1 2015
§1 Important Notice
1.1 The Board of Directors and Board of Supervisors of the Company and its directors, supervisors and officers
hereby guarantee that this report is free from any fault, misleading statement or major omission and bear joint and
several liabilities for the truthfulness, accuracy and completeness of contents described herein.
1.2 All board members have been present at the board meeting for auditing the Q1 report.
1.3 The Report Q1 2015 has not been audited by the accounting firm.
1.4 The legal representative Sun Chengming, Chief Financial Director Wu Zhenqin and Manager of Finance
Department Li Shifang hereby state that: the financial statements in the Report are authentic and complete.
1.5 The Report is made in Chinese and English. In case of any discrepancy between the two, the Chinese version
shall prevail.
§2 Change in Main Financial Data and Shareholder
2.1 Main accounting data and financial index
There is no retroactive adjustment or restatement of accounting data for previous years due to change in
accounting policies and correction of accounting errors
Increase or decrease of the
end of this report period
Reporting period Amount of last year
compared with the same
period of previous year
Operating income (yuan) 6,004,766,989.10 7,250,648,108.95 -17.18%
Net profits attributable to the listed
653,187,033.25 755,433,248.27 -13.53%
company shareholders (yuan)
Net profits attributable to shareholders of
listed company after deducting 649,379,795.26 794,757,195.17 -18.29%
non-recurring profits and losses (yuan)
Net cash flows from operating activities
-6,851,977,379.07 -4,330,633,173.95 -58.22%
(yuan)
Basic earnings per share (yuan/share) 0.25 0.29 -13.79%
Diluted earnings per share (yuan/share) 0.25 0.29 -13.79%
China Merchants Property Development Co., Ltd. Report Q1 2015
Decrease of 0.71 percentage
Weighted average rate of return on equity 2.08% 2.79%
points
Year-on-year increase or
End of report period End of last year
decrease
Total assets (yuan) 161,577,057,955.12 151,692,365,118.58 6.52%
Net assets attributable to the shareholders
31,755,625,844.01 31,094,416,110.82 2.13%
of listed company (yuan)
Note 1: the year-on-year decrease in the net profits attributable to the shareholders of listed company in Q1 2015 was primarily
caused by the year-on-year decrease in the carryover area in Q1 2015. Reminder to the investors: the achievement of profits of the
whole year may not be estimated by the performance in Q1 due to the unbalanced quarterly distribution of real estate project
completion and carryover time.
Note 2: the year-on-year decrease in the net cash flows produced by operating activities in Q1 2015 was primarily caused by the
significant increase in payment of land price and infrastructure expenditure.
Total capital stock of the Company as of the trading day before disclosure:
Total capital stock of the Company as of the trading day
2,575,950,754
before disclosure (share)
Items and amount of extraordinary profit or loss
Unit: yuan
Items of extraordinary profit or loss Amount from beginning of year to end of report period
Losses and profits on disposal of non-current assets 2,478,144.35
Government subsidies 4,321,610.93
Other non-operating revenues and expenditures except the foregoing items 3,480,912.35
Other profit or loss items recognized by CSRC -3,752,227.93
Affected amount of minority interest income -1,834,195.12
Affected amount of income taxes -887,006.59
Total 3,807,237.99
Note: the long-term equity investment after change in control of Shenzhen Overseas Chinese Town Co., Ltd. (OCT) by the Company
is measured by fair value. The equity fair value is mainly inventory evaluation appreciation. In the period, based on the ratio of actual
carry-forward inventory area in the total salable area of inventory to be carried forward on the date of control right change of OCT,
the appreciation of long-term equity investment acknowledged by assessed appreciation value subject to corresponding written off is
RMB 3,752,227.93.
2.2 Shareholding facts of total shareholders and top ten shareholders at the end of report period
Unit: share
Total number of common 93,305 (A-shares: 82,503, B-shares: 10,802)
China Merchants Property Development Co., Ltd. Report Q1 2015
shareholders at the end of the
reporting period
Information of shares held by the top ten common shareholders
Quantity of Pledged or frozen status
Nature of the Shareholding ratio Quantity of shares
Name of shareholder restricted Shareholding
shareholder (%) held Quantity
share held status
China Merchants Shekou State-owned
40.38% 1,040,128,975 1,040,128,975 None None
Industrial Zone Co., Ltd. corporate
Full-space Investment Overseas
5.48% 141,216,075 141,216,075 None None
Limited Co., Ltd. corporate
China Merchants Securities Overseas
2.93% 75,353,745 73,863,367 None None
(Hong Kong) Co., Ltd. corporate
FOXTROT Overseas
INTERNATIONAL corporate 1.61% 41,580,000 41,580,000 None None
LIMITED
ORIENTURE Overseas
1.55% 39,904,717 39,904,717 None None
INVESTMENT LTD corporate
GOLDEN CHINA Overseas
1.03% 26,487,893 None None None
MASTER FUND institution
Domestic
National Social Security
non-state-owned 0.86% 22,189,608 None None None
Fund 118 Portfolio
corporate
Invesco Great Wall Selected Domestic
Blue Chip Stock Type non-state-owned 0.58% 15,000,052 None None None
Securities Investment Funds corporate
Domestic
Fullgoal Tianbo Innovative
non-state-owned 0.56% 14,341,528 None None None
Theme Stock Fund
corporate
GREENWOODS CHINA Overseas
0.51% 13,031,565 None None None
ALPHA MASTER FUND institution
Shareholding status of top ten un-restricted common shareholders
Class of share
Name of shareholder Quantity of un-restricted common shares
Class of share Quantity
GOLDEN CHINA MASTER FUND 26,487,893 B share 26,487,893
National Social Security Fund 118 Portfolio 22,189,608 A share 22,189,608
Invesco Great Wall Selected Blue Chip Stock
15,000,052 A share 15,000,052
Type Securities Investment Funds
Fullgoal Tianbo Innovative Theme Stock 14,341,528 A share 14,341,528
China Merchants Property Development Co., Ltd. Report Q1 2015
Fund
GREENWOODS CHINA ALPHA MASTER
13,031,565 B share 13,031,565
FUND
Rongtong New Blue Chip Securities
12,000,056 A share 12,000,056
investment funds
NORGES BANK 11,641,091 B share 11,641,091
Invesco Great Wall Domestic Needs Growth
10,490,450 A share 10,490,450
No Two Shares Securities Investment Funds
National Social Security Fund 413 Portfolio 10,000,000 A share 10,000,000
National Social Security Fund 101 Portfolio 8,736,473 A share 8,736,473
1. Shekou Industrial Zone and its subsidiaries - Full Space Investment Limited,
FOXTROT INTERNATIONAL LIMITED and ORIENTURE INVESTMENT LTD
are Persons Acting in Concert; GOLDEN CHINA MASTER FUND and
GREENWOODS CHINA ALPHA MASTER FUND are Persons Acting in Concert.
Statement on related relationship and acting
Dafeng International, a subsidiary of Shekou Industrial Zone, has entrusted
in concert of the above-mentioned
73,863,367 shares of the Company to China Merchants Securities (Hong Kong) Co.,
shareholders
Ltd.
2. Invesco Great Wall Selected Blue Chip Stock Type Securities Investment Funds
and Invesco Great Wall Domestic Needs Growth No. Two Shares Securities
Investment Funds are operated under the same funds management company.
Description for top ten common shareholders
participating in securities margin trading (if None
any)
§3 Important Events
3.1 Facts and cause for significant change in main accounting statement item and financial index during the
report period
China Merchants Property Development Co., Ltd. Report Q1 2015
Unit: RMB 10,000
Increase
Items of financial and
3/31/2015 12/31/2014 Main causes of changes
liabilities decrease
(±%)
Increase in house sales amount
Notes receivable 2,688 439 512%
receivable
Dividends receivable 4,020 6,420 -37% Dividend received from associates
Increase in current funds of associated
Other receivables 1,214,783 894,186 36%
and joint enterprises receivable
Notes payable 7,031 4,734 49% Increase in payables on projects
Payment for unpaid remuneration of
Payroll payable 16,452 39,875 -59%
employee
Counting and drawing interest on
Interests payable 33,853 19,214 76%
bank loan
Dividends paid by subsidiaries to
Dividends payable 10,573 16,073 -34%
minority shareholders
Issuing medium-term bond of RMB 1
Bonds payable 403,750 301,808 34%
billion
Increased payables due to assignment
Long-term payables 351,402 10,435 3267%
of interest of the dividends
Increase
January - January - and
Items of profit or loss Main causes of changes
March 2015 March 2014 decrease
(±%)
Increase in advertisement expenses,
Sales expenses 15,403 10,892 41%
sales and service charges and labor cost
Non-operating income 1,626 629 158% Increase of penalty confiscated
Decrease in investment income due to
Investment income 1,518 11,944 -87%
the adjustment of Equity Method
Increase
January - January - and
Cash flow items Main cause of changes
March 2015 March 2014 decrease
(±%)
Net cash flows arising Increase in prepaid land funds and
-685,198 -433,063 -58%
from operating activities deposit in the current period
Sub-total of cash outflows Increase in share acquisition payment
17,341 7,150 143%
from investing activities paid
Net cash flows from Increase in share acquisition payment
-14,941 -7,150 -109%
investing activities paid
Sub-total of cash inflows
1,056,640 348,257 203% Loans newly increased in this period
from financing activities
Newly-increased loans in the current
Net cash flows from
744,729 -26,394 2922% period are more than repayment
financing activities
amount
