China Merchants Property Development Co., Ltd. Report Q3 2014
Stock code: 000024, 200024 Stock short name: ZSDC, ZSJB
Announcement No. [CMPD] 2014-068
China Merchants Property Development Co., Ltd. Report Q3 2014
§1 Important Notice
1.1 The Board of Directors and Board of Supervisors of the Company and its directors, supervisors and
officers hereby assure that this report is free from any false records, misleading statements or material omissions
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 Q3 report.
1.3 The Report Q3 2014 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 under 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 financial data
Year-on-year increase or
End of reporting period End of previousyear
decrease
Total assets (yuan) 145,061,980,954.82 134,040,446,989.65 8.22 %
Net assets attributable to the
28,174,337,633.35 26,725,501,967.24 5.42 %
shareholders of listed company (yuan)
Increase or decrease
Year-on-year
of the end of current
From beginning of increase or decrease
reporting period
Reporting period year to end of from beginning of
compared with the
reporting period year to end of
same period of
reporting period
previous year
Operating income (yuan) 7,706,001,062.23 5.02 % 23,753,156,793.22 1.20 %
Net profits attributable to the
455,232,903.03 -56.83 % 2,240,667,651.88 -37.85 %
shareholders of listed company (yuan)
Net profits attributable to shareholders 466,979,855.34 -55.29 % 2,309,856,826.79 -29.19 %
of listed company after deducting
China Merchants Property Development Co., Ltd. Report Q3 2014
non-recurring profits and losses (yuan)
Net cash flows from operating
-- -- -5,494,631,791.92 -792.24 %
activities (yuan)
Basic earnings per share (Yuan/share) 0.18 -56.10 % 0.87 -37.86 %
Diluted earnings per share
0.18 -56.10 % 0.87 -37.86 %
(Yuan/share)
Weighted average rate of return on Decrease of 2.40 Decrease of 6.26
1.63 % 8.18 %
equity percentage points percentage points
Note 1: The year-on-year decrease of net profits attributable to the shareholders of listed company realized from January to
September is mainly due to different product and regional structures of carry-forward real estate projects. The general gross margin
level for the carry-forward items this year is relatively low. In addition, the items with high gross margin this year are not yet carried
forward due to uneven distribution of completion date of real estate projects this year.
Note 2: during the reporting period, the Company has implemented the capitalization from capital public reserve plan. In accordance
with Information Disclosure Memorandum No. 21 - Matters Related to the Disclosure of Periodic Reports by Shenzhen Stock
Exchange, the Company has recalculated the earnings per share over the same period of last year based on the adjusted stock.
Note 3:In accordance with 2014 New Accounting Standards for Businesses, this year, the Company has made a retroactive
adjustment for the 2013 Financial Statements, leading to a decrease of RMB 11,777,249.14 retained earnings at the end of 2013 and
an increase of RMB 11,777,249.14 capital reserve. After adjustment, the total asset and the net assets attributable to the shareholders
of listed company are not changed.
Items and amount of extraordinary profit or loss
Amount from beginning of year to end of reporting
Items of extraordinary profit or loss
period
Losses and profits on disposal of non-current assets -197,456.97
Government subsidies 47,015,608.70
Other non-operating revenues and expenditures except the
foregoing items -15,141,751.48
Other profit or loss items recognized by CSRC -86,961,360.88
China Merchants Property Development Co., Ltd. Report Q3 2014
Affected amount of income taxes -11,014,316.70
Affected amount of minority interest income -2,889,897.58
Total -69,189,174.91
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. From January to September
2014, 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 recognized by evaluation appreciation for
corresponding resale is RMB -86,961,360.88.
2.2 Shareholding facts of total shareholders and top ten shareholders at the end of reporting period
Unit: share
Total number of shareholders at
the end of the reporting period 72,656 (A-shares: 61,927, B-shares: 10,729)
(numbers)
Information of shares held by the top ten shareholders
Pledged or frozen
Quantity of status
Property of the Shareholding Quantity of
Name of shareholders restricted share
shareholder ratio (%) shares held
held Shareholding
Quantity
status
China Merchants Shekou Industrial Zone State-owned 40.38 % 1,040,128,975 1,040,128,975 (A) None None
Co., Ltd. corporate
Full Space Investment Limited Overseas 5.48 % 141,216,075 141,216,075 (B) None None
corporate
China Merchants Securities (HK) Co., Overseas 2.91 % 74,849,287 73,863,367 (B) None None
Ltd. corporate
The People’s Insurance Company Domestic 2.77 % 71,297,455 None None None
China Merchants Property Development Co., Ltd. Report Q3 2014
(Group) of China-Dividends-Individual non-state-owned
insurance dividend corporate
FOXTROT INTERNATIONAL Overseas 1.61 % 41,580,000 41,580,000 (B) None None
LIMITED corporate
ORIENTURE INVESTMENT LTD Overseas 1.55 % 39,904,717 39,904,717 (B) None None
corporate
The People’s Insurance Company Domestic 1.50 % 38,540,800 None None None
(Group) of non-state-owned
China-Traditional-Composition of corporate
earnings
Fullgoal Tianbo Innovative Theme Stock Domestic 1.16 % 30,000,000 None None None
Fund non-state-owned
corporate
GOLDEN CHINA MASTER FUND Overseas 0.77 % 19,808,497 None None None
corporate
National Social Security Fund 102 Domestic 0.70 % 18,000,000 None None None
Portfolio non-state-owned
corporate
Shareholding status of top ten un-restricted shareholders
Class of shares
Quantity of held
Name of shareholders
un-restricted stock Class of
Quantity
shares
The People’s Insurance Company (Group) of 71,297,455 A share 71,297,455
China-Dividends-Individual insurance dividend
The People’s Insurance Company (Group) of 38,540,800 A share 38,540,800
China-Traditional-Composition of earnings
Fullgoal Tianbo Innovative Theme Stock Fund 30,000,000 A share 30,000,000
GOLDEN CHINA MASTER FUND 19,808,497 B share 19,808,497
National Social Security Fund 102 Portfolio 18,000,000 A share 18,000,000
China Merchants Property Development Co., Ltd. Report Q3 2014
VALUE PARTNERS CLASSIC FUND 17,673,790 B share 17,673,790
National Social Security Fund 602 Portfolio 14,999,968 A share 14,999,968
Huaxin Trust CO., LTD. 14,651,478 A share 14,651,478
Dacheng Innovation Growth Mixed Fund(LOF) 13,894,156 A share 13,894,156
GREENWOODS CHINA ALPHA MASTER FUND 13,031,565 B share 13,031,565
1. Shekou Industrial Zone and its subsidiary Full Space Investment Limited, Dafeng International, FOXTROT INTERNATIONAL
LIMITED and ORIENTURE INVESTMENT LTD are persons acting in concert;
2. Among the Company shares held by China Merchants Securities (HK) Co., Ltd., 49,242,245 shares were purchased by Dafeng
International under entrustment in the previous year. After capitalization from capital public reserve in June 2014, Dafeng
International held a total of 73,863,367 shares;
§3 Important Events
3.1 Facts and cause for significant change in main accounting statement item and financial
index during the reporting period
Unit: RMB 10,000
Increase
Items of financial September 30, and
2013.12.31 Main cause of changes
liabilities 2014 decrease
(±%)
Increase of receivables for sales of
Accounts receivable 10,401.58 7,686.48 35 %
housings
Increase of deferred income tax
assets due to establishment of new
Deferred income tax
110,099.79 77,025.79 43 % corporation by office building
assets
investment of China Merchants
Property Investment Company
Notes payable 735.87 2,726.76 -73 % Due settlement of notes payable
Increase of dividends payable to
Dividend payable 45,594.27 12,092.72 277 % minority shareholders of
subsidiaries
China Merchants Property Development Co., Ltd. Report Q3 2014
Reversal of estimated liabilities
Estimated liabilities - 1,047.34 -100 % due to settlement of pending
litigation
Other current Payment of accrued increment tax
248,590.25 356,049.11 -30 %
liabilities on land value
Capitalization from capital public
Share capital 257,595.08 171,730.05 50 %
reserves
Increase
January -
Items of profit or January - and
September Main cause of changes
loss September 2014 decrease
(±%)
The gross profit ratio of the
carry-forward items at current
period is relatively low and the
Business taxes and
238,329.16 372,756.15 -36 % increment tax on land value
surcharges
decreases accordingly due to
carry-forward product and regional
structure
Year-on-year increase of interest
Financial expenses 49,584.01 16,007.97 210 % exchange and foreign exchange
loss at current period
Releasing of partial provision for
Asset impairment
83.68 -17,205.76 -100 % inventory over the same period last
loss
year
Non-operating
6,083.13 3,989.48 52 % Increase of government subsidy
income
Non-operating Increase of water conservancy
2,915.49 2,182.13 34 %
expense
