CHINAMERCHANTSPORTGROUPCO.,LTD.THEREPORTFORTHEFIRSTQUARTEROF2021
DateofDisclosure:30April2021
PartIImportantNotes
TheBoardofDirectors(orthe“Board”),theSupervisoryCommitteeaswellasthedirectors,supervisorsandseniormanagementofChinaMerchantsPortGroupCo.,Ltd.(hereinafterreferredtoasthe“Company”)herebyguaranteethefactuality,accuracyandcompletenessofthecontentsofthisReportanditssummary,andshallbejointlyandseverallyliableforanymisrepresentations,misleadingstatementsormaterialomissionstherein.AlltheCompany’sdirectorshaveattendedtheBoardmeetingforthereviewofthisReportanditssummary.BaiJingtao,theCompany’slegalrepresentative,LuYongxin,theCompany’sActingChiefFinancialOfficer,andSunLigan,theperson-in-chargeoftheaccountingorganherebyguaranteethattheFinancialStatementscarriedinthisReportarefactual,accurateandcomplete.SecuritiesTimes,ShanghaiSecuritiesNews,TaKungPao(HK)andwww.cninfo.com.cnhavebeendesignatedbytheCompanyforinformationdisclosure.AndallinformationabouttheCompanyshallbesubjecttowhat’sdisclosedontheaforesaidmedia.Investorsarekindlyremindedtopayattentionto.ThisReportanditssummaryhavebeenpreparedinbothChineseandEnglish.Shouldtherebeanydiscrepanciesormisunderstandingsbetweenthetwoversions,theChineseversionshallprevail.
Definitions
Term
| Term | Definition |
| The“Company”,“CMPort”or“we” | ChinaMerchantsPortGroupCo.,Ltd.,formerlyknownas“ShenzhenChiwanWharfHoldingsLimited” |
| CMG | ChinaMerchantsGroupCo.,Limited |
| CMPortHoldings | ChinaMerchantsPortHoldingsCompanyLimited(00144.HK) |
| CMHIT | ChinaMerchantsHoldings(International)InformationTechnologyCo.,Ltd. |
| JifaLogistics | DalianPortJifaLogisticsCo.,Ltd. |
| DPCD | DalianPortContainerDevelopmentCo.,Ltd. |
| YingkouPortGroup | YingkouPortGroupCo.,Ltd. |
| DPN | DalianPortLogisticsNetworkCo.,Ltd. |
| YPIT | YingkouPortInformationTechnologyCo.,Ltd. |
| ZhanjiangPort | ZhanjiangPort(Group)Co.,Ltd. |
| HaixingHarbor | ShenzhenHaixingHarborDevelopmentCo.,Ltd. |
| SZSE | ShenzhenStockExchange |
| CMGFinance | ChinaMerchantsGroupFinanceCo.,Ltd. |
| Thecninfowebsite | www.cninfo.com.cn |
| RMBRMB’0,000RMB’00,000,000 | ExpressedintheChinesecurrencyofRenminbiExpressedintensofthousandsofRenminbiExpressedinhundredsofmillionsofRenminbi(unlessotherwisespecified) |
PartIIKeyCorporateInformation
IKeyAccountingDataandFinancialInformationIndicatebytickmarkwhetherthereisanyretrospectivelyrestateddatuminthetablebelow.
√Yes□NoReason:BusinesscombinationundercommoncontrolOn18December2020,theCompanysignedtheEquitySubscriptionandCapitalIncreaseAgreementforCMHITwiththeCompany'ssubsidiaries,CMPortHoldingsandCMHIT,JifaLogisticsandYingkouPortGroup.AccordingtotheEquitySubscriptionandCapitalIncreaseAgreement,JifaLogisticsandDPCDwouldincreasethecapitalofCMHITwith29.40%and49.63%oftheirrespectivesharesinDPN,andYingkouPortGroupwouldincreasethecapitalofCMHITwith100%ofitsequityinYPIT.Beforeandafterthemerger,CMHIT,DPNandYPITareallsubjecttothefinalcontrolofCMG,theactualcontrolleroftheCompany,andsuchcontrolisnottemporary.Theabovecapitalincreasewascompletedon9February2021.Uponcompletionofthecapitalincrease,theCompany,CMPortHoldings,JifaLogistics,DPCDandYingkouPortGroupwillhold
13.18%,43.74%,13.26%,22.38%and7.44%equityinCMHIT,respectively.CMHITremainsamajority-ownedsubsidiaryoftheCompany.CMHITholds79.03%equityinDPNand100%equityinYPITrespectively,andisabletoexercisecontroloverthelattertwocompanies.Therefore,since9February2021,theCompanywillfollowtheaccountingprocessingmethodforenterprisemergerunderthesamecontrolandincludeDPNandYPITintheconsolidatedscopeoftheCompany'sconsolidatedfinancialstatementsfromthebeginningofthecomparativefinancialstatementperiod.
Q12021
| Q12021 | Q12020 | Change | ||
| Original | Restated | Restated | ||
| Operatingrevenue(RMB) | 3,574,128,378.48 | 2,886,025,618.74 | 2,903,610,633.29 | 23.09% |
| Netprofitattributabletothelistedcompany’sshareholders(RMB) | 532,867,484.84 | 149,871,785.99 | 149,234,067.89 | 257.07% |
| Netprofitattributabletothelistedcompany’sshareholdersbeforeexceptionalgainsandlosses(RMB) | 524,972,071.00 | 199,867,940.76 | 200,075,200.85 | 162.39% |
| Netcashgeneratedfrom/usedinoperatingactivities(RMB) | 880,940,193.44 | 847,165,371.60 | 828,153,884.17 | 6.37% |
| Basicearningspershare(RMB/share) | 0.28 | 0.08 | 0.08 | 250.00% |
| Dilutedearningspershare(RMB/share) | 0.28 | 0.08 | 0.08 | 250.00% |
| Weightedaveragereturnonequity(%) | 1.42% | 0.42% | 0.42% | 1.00% |
| 31March2021 | 31December2020 | Change | ||
| Original | Restated | Restated | ||
| Totalassets(RMB) | 166,226,373,047.70 | 168,543,611,777.21 | 168,728,326,345.77 | -1.48% |
| Equityattributabletothelistedcompany’sshareholders(RMB) | 37,868,722,895.56 | 37,117,806,052.18 | 37,165,277,744.78 | 1.89% |
Totalsharecapitaluptotheformertradingdatebeforethedisclosure:
| Totalsharecapitaluptotheformertradingdatebeforethedisclosure(share) | 1,922,365,124 |
FullydilutedEPScalculatedbythenewestsharecapital:
| FullydilutedEPScalculatedbythenewestsharecapital(RMB/share) | 0.28 |
Exceptionalgainsandlosses:
Unit:RMB
Item
| Item | Q12021 | Note |
| Gainorlossondisposalofnon-currentassets(inclusiveofimpairmentallowancewrite-offs) | 13,401,172.17 | |
| Governmentsubsidieschargedtocurrentprofitorloss(exclusiveofgovernmentsubsidiesgivenintheCompany’sordinarycourseofbusinessatfixedquotasoramountsasperthegovernment’suniformstandards) | 19,553,938.77 | |
| Capitaloccupationchargesonnon-financialenterprisesthatarechargedtocurrentprofitorloss | 61,352,371.27 | |
| Currentprofitorlossonsubsidiariesobtainedinbusinesscombinationsinvolvingenterprisesundercommoncontrolfromtheperiod-beginningtocombinationdates,net | -3,255,790.50 | |
| Gainorlossonfair-valuechangesinheld-for-tradingandderivativefinancialassetsandliabilities&incomefromdisposalofheld-for-tradingandderivativefinancialassetsandliabilities,andotherinvestmentsindebtobligations(exclusiveofeffectiveportionofhedgesthatariseintheCompany’sordinarycourseofbusiness) | -168,400,154.98 | |
| Non-operatingincomeandexpenseotherthantheabove | 1,081,081.32 | |
| Less:Incometaxeffects | -62,960,484.26 | |
| Non-controllinginterestseffects(netoftax) | -21,202,311.53 | |
| Total | 7,895,413.84 | -- |
ExplanationofwhytheCompanyreclassifiesasrecurrentanexceptionalgain/lossitemdefinedorlistedintheExplanatoryAnnouncementNo.1onInformationDisclosureforCompaniesOfferingTheirSecuritiestothePublic—ExceptionalGain/LossItems:
□Applicable√Notapplicable
IITotalNumberofShareholdersandHoldingsofTop10Shareholdersat31March2021
1.NumbersofOrdinaryShareholdersandPreferredShareholderswithResumedVotingRightsaswellasHoldingsofTop10Shareholders
Unit:share
Numberofordinaryshareholdersattheperiod-end
| Numberofordinaryshareholdersattheperiod-end | 33,045 | Numberofpreferredshareholderswithresumedvotingrightsattheperiod-end(ifany) | 0 | |||
| Top10shareholders | ||||||
| Nameofshareholder | Natureofshareholder | Shareholdingpercentage | Totalsharesheld | Restrictedsharesheld | Sharesinpledgeorfrozen | |
| CHINAMERCHANTSPORTINVESTMENTDEVELOPMENTCOMPANYLIMITED | Foreignlegalperson | 59.75% | 1,148,648,648 | 1,148,648,648 | 0 | |
| CHINAMERCHANTSGANGTONGDEVELOPMENT(SHENZHEN)CO.,LTD. | State-ownedlegalperson | 19.29% | 370,878,000 | 0 | 0 | |
| SHENZHENINFRASTRUCTUREINVESTMENTFUND-SHENZHENINFRASTRUCTUREINVESTMENTFUNDPARTNERSHIP(LIMITEDPARTNERSHIP) | Fundandwealthmanagementproducts | 3.37% | 64,850,182 | 0 | 0 | |
| CHINA-AFRICADEVELOPMENTFUND | State-ownedlegalperson | 3.33% | 64,102,564 | 0 | 0 | |
| BROADFORDGLOBALLIMITED | State-ownedlegalperson | 2.88% | 55,314,208 | 0 | 0 | |
| CMBLSAREFTIFTEMPLETONASIANGRWFDGTI5496 | Foreignlegalperson | 0.19% | 3,659,487 | 0 | 0 | |
| HONGKONGSECURITIESCLEARINGCOMPANYLTD. | Foreignlegalperson | 0.17% | 3,349,154 | 0 | 0 | |
| CHINAMERCHANTSSECURITIES(HK)CO.,LTD. | State-ownedlegalperson | 0.14% | 2,764,355 | 0 | 0 | |
| MAISHUQING | Domesticnaturalperson | 0.11% | 2,129,247 | 0 | 0 | |
| ARROWSTREETEMERGINGMARKETALPHAEXTENSIONTRUSTFUND | Foreignlegalperson | 0.10% | 1,927,390 | 0 | 0 | |
| Top10unrestrictedshareholders | ||||||
| Nameofshareholder | Unrestrictedsharesheld | Sharesbytype | ||||
| Type | Shares | |||||
CHINAMERCHANTSGANGTONGDEVELOPMENT(SHENZHEN)CO.,LTD.
| CHINAMERCHANTSGANGTONGDEVELOPMENT(SHENZHEN)CO.,LTD. | 370,878,000 | RMB-denominatedordinarystock | 370,878,000 |
| SHENZHENINFRASTRUCTUREINVESTMENTFUND-SHENZHENINFRASTRUCTUREINVESTMENTFUNDPARTNERSHIP(LIMITEDPARTNERSHIP) | 64,850,182 | RMB-denominatedordinarystock | 64,850,182 |
| CHINA-AFRICADEVELOPMENTFUND | 64,102,564 | RMB-denominatedordinarystock | 64,102,564 |
| BROADFORDGLOBALLIMITED | 55,314,208 | Domesticallylistedforeignstock | 55,314,208 |
| CMBLSAREFTIFTEMPLETONASIANGRWFDGTI5496 | 3,659,487 | Domesticallylistedforeignstock | 3,659,487 |
| HONGKONGSECURITIESCLEARINGCOMPANYLTD. | 3,349,154 | RMB-denominatedordinarystock | 3,349,154 |
| CHINAMERCHANTSSECURITIES(HK)CO.,LTD. | 2,764,355 | Domesticallylistedforeignstock | 2,764,355 |
| MAISHUQING | 2,129,247 | RMB-denominatedordinarystock | 2,129,247 |
| ARROWSTREETEMERGINGMARKETALPHAEXTENSIONTRUSTFUND | 1,927,390 | Domesticallylistedforeignstock | 1,927,390 |
| NORGESBANK | 1,722,982 | Domesticallylistedforeignstock | 1,722,982 |
| Relatedoracting-in-concertpartiesamongtheshareholdersabove | ChinaMerchantsGangtongDevelopment(Shenzhen)Co.,Ltd.isamajority-ownedsubsidiaryofBroadfordGlobalLimited.BroadfordGlobalLimitedisthecontrollingshareholderofChinaMerchantsPortInvestmentDevelopmentCompanyLimited.TheCompanydoesnotknowwhethertheotherunrestrictedshareholdersarerelatedpartiesornot. | ||
| Top10shareholdersinvolvedinsecuritiesmargintrading(ifany) | N/A | ||
Indicatebytickmarkwhetheranyofthetop10ordinaryshareholdersorthetop10unrestrictedordinaryshareholdersoftheCompanyconductedanypromissoryrepoduringtheReportingPeriod.
□Yes√NoNosuchcasesintheReportingPeriod.
2.NumberofPreferredShareholdersandShareholdingsofTop10ofThem
□Applicable√Notapplicable
PartIIISignificantEventsIChangesinKeyFinancialStatementLineItemsandTheirExplanation
Unit:RMB
Item
| Item | 31March2021 | 1January2021 | Change | Explanationofchanges |
| Cashandbankbalances | 10,160,143,564.88 | 11,918,423,758.71 | -14.75% | Repaymentofmatureloansinthecurrentperiod |
| Held-for-tradingfinancialassets | 180,714.42 | 850,165,448.59 | -99.98% | Maturityofstructureddepositsinthecurrentperiod |
| Otherreceivables | 3,865,304,696.32 | 3,561,292,313.98 | 8.54% | Recognitionof2020dividendsreceivablefromassociatesandjointventuresinthecurrentperiod |
| Non-currentassetsduewithinoneyear | 18,131,636.53 | 67,692,473.44 | -73.21% | Recoveryoflong-termreceivablesduewithinoneyearuponmaturity |
| Short-termborrowings | 6,276,256,293.11 | 10,483,775,548.93 | -40.13% | RepaymentofborrowingsfromtheFinancialCompanyuponmaturityinthecurrentperiod |
| Othercurrentliabilities | 3,178,989,371.10 | 2,383,668,985.94 | 33.37% | Newshort-termfinancingsusedforsupplementingworkingcapitalinthecurrentperiod |
| Item | Q12021 | Q12020 | Change | Explanationofchanges |
| Operatingincome | 3,574,128,378.48 | 2,903,610,633.29 | 23.09% | Year-on-yearincreaseinbusinessvolume |
| Financeexpenses | 374,381,231.90 | 536,852,222.03 | -30.26% | Year-on-yeardecreaseinthebalanceofinterest-bearingliabilitiesandthecostsofcapital,aswellasexchangeratefluctuationsinthecurrentperiod |
| Investmentincome | 1,041,036,342.43 | 660,216,031.98 | 57.68% | Year-on-yearincreaseintheshareofprofitsofassociatesandjointventures |
| Incometaxexpenses | 265,348,021.64 | 170,459,172.82 | 55.67% | Increaseindeferredincometaxliabilitiesasaresultofayear-on-yearincreaseindividendtaxprovisionsandayear-on-yeardecreaseinlossesonthefairvalueofequitiesheldinthecurrentperiod |
| Cashreceiptsfrominvestmentsincome | 1,083,443,879.50 | 211,664,358.76 | 411.87% | Year-on-yearincreaseindividendincomefromassociatesandjointventuresinthecurrentperiod |
| Cashpaymentstoacquireinvestments | 977,561,289.86 | 2,746,841,398.03 | -64.41% | PaymentfortheTranche1ofmandatoryconvertiblebondsofTerminalLinkS.A.inthesameperiodoflastyear,withno |
comparablepaymentinthecurrentperiod
| comparablepaymentinthecurrentperiod | ||||
| Othercashpaymentsrelatingtoinvestingactivities | 5,967,866.95 | 3,792,979,774.69 | -99.84% | PaymentfortheTranche1loanofTerminalLinkS.A.inthesameperiodoflastyear,withnocomparablepaymentinthecurrentperiod |
| Cashreceiptsfromborrowings | 4,513,459,100.62 | 8,281,485,148.10 | -45.50% | Year-on-yeardecreaseinshort-termborrowingsobtainedinthecurrentperiod |
| Cashrepaymentsofborrowings | 7,886,158,730.55 | 3,167,336,858.98 | 148.98% | Year-on-yearincreaseinrepaymentsofmatureddebts |
| Othercashpaymentsrelatingtofinancingactivities | 1,760,847.73 | 447,602,677.41 | -99.61% | Paymentforpurchasing10%ofequityinTCPParticipa??esS.A.inthesameperiodoflastyear,withnocomparablepaymentinthecurrentperiod |
IIProgress,InfluenceandSolutionswithregardtoSignificantEvents
1.StockOptionIncentivePlanTheCompanyisimplementingthestockoptionincentiveplan,andthereviewandapprovalprocedurescarriedoutinconnectionwiththeStockOptionIncentivePlanareasfollows:
(1)Atthe2
nd
MeetingoftheNomination,RemunerationandAppraisalCommitteeofthe9
th
BoardofDirectorsin2019heldon10October2019,thefollowingproposalswereconsideredandapproved,includingStockOptionIncentivePlanofCMPort(Draft)(hereinafterreferredtoasthe“StockOptionIncentivePlan(Draft)”)anditssummary,theStockOptionIncentivePlanofCMPort(PhaseI)(Draft)(hereinafterreferredtoasthe“StockOptionIncentivePlan(PhaseI)(Draft)”)anditssummary,ManagementMeasuresfortheStockOptionIncentivePlanofCMPort(hereinafterreferredtoasthe“ManagementMeasuresfortheStockOptionIncentivePlan”),AppraisalMeasuresforImplementingtheStockOptionIncentivePlanandImplementationAppraisalMeasuresofStockOptionIncentivePlanbyChinaMerchantsPortGroupCo.,Ltd.(hereinafterreferredtoas“ImplementationAppraisalMeasuresofStockOptionIncentivePlan”).
(2)Atthe9
th
ExtraordinaryMeetingofthe9
th
BoardofDirectorsin2019heldon11October2019,thefollowingproposalswerereviewedandapproved,includingStockOptionIncentivePlan(Draft)anditssummary,StockOptionIncentivePlan(PhaseI)(Draft)anditssummary,ManagementMeasuresfortheStockOptionIncentivePlan,ImplementationAppraisalMeasuresofStockOptionIncentivePlan,andProposalonRequestingtheGeneralMeetingtoAuthorizetheBoardof
DirectorstoGoThroughShareIncentiveProcedures,andindependentdirectorsexpressedindependentopinionsthatagreedtheseproposals.Atthe2
ndExtraordinaryMeetingofthe9
thSupervisoryCommitteein2019heldonthesameday,thefollowingproposalswerereviewedandapproved,includingStockOptionIncentivePlan(Draft)anditssummary,StockOptionIncentivePlan(PhaseI)(Draft)anditssummary,ManagementMeasuresfortheStockOptionIncentivePlan,andImplementationAppraisalMeasuresofStockOptionIncentivePlan,andtheListofIncentiveObjectsundertheStockOptionIncentivePlan(PhaseI)wasreviewedwithopinionsexpressed.Refertotherelevantannouncements(AnnouncementNo.2019-069,No.2019-070)disclosedonwww.cninfo.com.cnfordetails.
(3)On3January2020,theCompanyreceivedApprovalontheImplementationofStockOptionIncentivePlanofCMPort(GZKF[2019]No.748)issuedbytheState-ownedAssetsSupervisionandAdministrationCommissionoftheStateCouncilfromChinaMerchantsGroup,theactualcontrolleroftheCompany.Inprinciple,approvalwasgiventotheCompanyforitsimplementationoftheStockOptionIncentivePlanandperformanceappraisalgoalsunderthePlan.Refertotherelevantannouncement(AnnouncementNo.2020-001)disclosedonwww.cninfo.com.cnfordetails.
(4)Atthe1
stExtraordinaryMeetingofthe9
thBoardofDirectorsin2020heldon9January2020,StockOptionIncentivePlan(PhaseI)(RevisedDraft)anditssummarywerereviewedandapproved,andindependentdirectorsexpressedindependentopinionsthatagreedtheproposal.Atthe1st
ExtraordinaryMeetingofthe9
thSupervisoryCommitteein2020heldonthesameday,StockOptionIncentivePlan(PhaseI)(RevisedDraft)anditssummarywerereviewedandapprovedandListofIncentiveobjectsundertheStockOptionIncentivePlan(PhaseI)(AfterAdjustment)wasreviewedwithopinionsexpressed.Refertotherelevantannouncements(AnnouncementNo.2020-002,No.2020-003,No.2020-004)disclosedonwww.cninfo.com.cnfordetails.
(5)On20January2020,theCompanydisclosedtheAnnouncementonNotesoftheSupervisoryCommitteeontheReviewandPublicityoftheListofIncentiveObjectsundertheStockOptionIncentivePlan(PhaseI).TheSupervisoryCommitteereviewedthelistofincentiveobjectsforthefirstgrant.TheCompanypublishedthenamesandpositionsoftheincentiveobjectsforthefirstgrantofthestockoptioninitsinternalOAsystemfrom10Januaryto19January2020.Bytheend
ofthepublicity,theCompany’sSupervisoryCommitteehadnotreceivedanyobjectionagainsttheincentiveobjectsforthefirstgrant.Refertotherelevantannouncement(AnnouncementNo.2020-009)disclosedonwww.cninfo.com.cnfordetails.
(6)Atthe1
stExtraordinaryGeneralMeetingof2020heldon3February2020,thefollowingproposalswereconsideredandapproved,includingStockOptionIncentivePlan(Draft)anditssummary,StockOptionIncentivePlan(PhaseI)(RevisedDraft)anditssummary,ManagementMeasuresfortheStockOptionIncentivePlan,ImplementationAppraisalMeasuresofStockOptionIncentivePlan,andProposalonRequestingtheGeneralMeetingtoAuthorizetheBoardofDirectorstoGoThroughShareIncentiveProcedures.TheCompany’sStockOptionIncentivePlanwasapprovedandtheBoardofDirectorswasauthorizedtodeterminethegrantdate,grantstockoptiontotheincentiveobjectswhentheymeettheconditionsandgothroughallproceduresrequiredforthegrant.Onthesameday,theCompanydisclosedSelf-inspectionReportontheTradingoftheCompany’sSharesbyInsidersandIncentiveObjectsoftheStockOptionIncentivePlan(PhaseI)accordingtoitsverificationofthetradingengagedbytheinsidersandincentiveobjects.Refertotherelevantannouncement(AnnouncementNo.2020-011)disclosedonwww.cninfo.com.cnfordetails.
(7)Atthe2
ndExtraordinaryMeetingofthe9
thBoardofDirectorsin2020andthe2
ndExtraordinaryMeetingofthe9
thSupervisoryCommitteein2020heldon3February2020,theProposalontheGrantofStockOption(theFirstGrant)toIncentiveObjectsoftheStockOptionIncentivePlanoftheCompanywasconsideredandapprovedrespectively.TheCompany’sBoardofSupervisorsreviewedthelistofincentiveobjectsundertheStockOptionIncentivePlan(PhaseI)onthegrantdateandexpressedopinions,andindependentdirectorsexpressedindependentopinionsthatagreedtheproposal.Refertotherelevantannouncements(AnnouncementNo.2020-012,No.2020-013,No.2020-014)disclosedonwww.cninfo.com.cnfordetails.
(8)On14March2020,theCompanyhascompletedregistrationforthegrantofstockoption(thefirstgrant)undertheStockOptionIncentivePlan(PhaseI).RefertotheAnnouncementonCompletionoftheGrantofStockOption(theFirstGrant)undertheStockOptionIncentivePlan(PhaseI)oftheCompany(AnnouncementNo.2020-020)disclosedonwww.cninfo.com.cnfordetails.
(9)Atthe1
stExtraordinaryMeetingofthe10
thBoardofDirectorsin2021andthe1
stExtraordinaryMeetingofthe10
thSupervisoryCommitteein2021heldon29January2021,theProposalonAdjustingtheExercisePriceoftheFirstGrantundertheStockOptionIncentivePlan(PhaseI)andtheProposalontheGrantofStockOption(theReserved)toIncentiveObjectsoftheStockOptionIncentivePlan(PhaseI)oftheCompanywereconsideredandapprovedrespectively.TheSupervisoryCommitteereviewedthelistofincentiveobjectsforthereservedstockoptionsundertheStockOptionIncentivePlan(PhaseI)onthegrantdate,andindependentdirectorsexpressedindependentopinionsthatagreedtheproposals.Refertotherelevantannouncements(AnnouncementNo.2021-007,No.2021-008)disclosedonwww.cninfo.com.cnfordetails.
(10)On9February2021,theCompanydisclosedtheAnnouncementonNotesoftheSupervisoryCommitteeontheReviewandPublicityoftheListofIncentiveObjectsfortheReservationundertheStockOptionIncentivePlan(PhaseI)(AnnouncementNo.2021-009).TheCompanypublishedthenamesandpositionsoftheincentiveobjectsforreservedstockoptionsinitsinternalOAsystemfrom29January2021to8February2021.Bytheendofthepublicity,theCompany’sSupervisoryCommitteehadnotreceivedanyobjectionagainsttheincentiveobjectsforreservedstockoptions.Refertotherelevantannouncement(AnnouncementNo.2021-009)disclosedonwww.cninfo.com.cnfordetails.
(11)5March2021,theCompanyhascompletedregistrationforthegrantofstockoption(thereserved)undertheStockOptionIncentivePlan(PhaseI).RefertotheAnnouncementonCompletionoftheGrantofStockOption(theReserved)undertheStockOptionIncentivePlan(PhaseI)oftheCompany(AnnouncementNo.2021-013)disclosedonwww.cninfo.com.cnfordetails.
2.InformationDisclosureIndexIntheReportingPeriod,thesignificantmattersdisclosedinSecuritiesTime,ShanghaiSecuritiesNews,TaKungPaoandwww.cninfo.com.cnareasfollows:
No.
| No. | AnnouncementNo. | Date | Title |
| 1 | 2021-001 | 16January2021 | AnnouncementonVoluntaryInformationDisclosureofBusinessVolumeDataofDecember2020 |
| 2 | 2021-002 | 16January2021 | AnnouncementonResignationofViceGM&SecretaryoftheBoardandViceGMasActingSecretaryoftheBoard |
| 3 | 2021-003 | 21January2021 | ReminderoftheIssuanceof2021PhaseISuper-short-termFinancingBonds |
| 4 | 2021-004 | 26January2021 | AnnouncementonIssuedResultof2021PhaseISuper-short-termFinancingBonds |
| 5 | 2021-005 | 30January2021 | AnnouncementonResolutionsofthe1stSpecialMeetingofthe10thBoardofDirectorsin2021 |
| 6 | 2021-006 | 30January2021 | AnnouncementonResolutionsofthe1stSpecialMeetingofthe10thSupervisoryCommitteein2021 |
| 7 | 2021-007 | 30January2021 | AnnouncementonAdjustingtheExercisePriceoftheFirstGrantundertheStockOptionIncentivePlan(PhaseI) |
| 8 | 2021-008 | 30January2021 | AnnouncementontheGrantofStockOption(theReserved)toIncentiveObjectsoftheStockOptionIncentivePlan(PhaseI)oftheCompany |
| 9 | 2021-009 | 9February2021 | AnnouncementonNotesoftheSupervisoryCommitteeontheReviewandPublicityoftheListofIncentiveObjectsfortheReservationundertheStockOptionIncentivePlan(PhaseI) |
| 10 | 2021-010 | 19February2021 | AnnouncementonVoluntaryInformationDisclosureofBusinessVolumeDataofJanuary2021 |
| 11 | 2021-011 | 3March2021 | Redemptionof2020PhaseIIISuper-short-termFinancingBondsatMaturity |
| 12 | 2021-012 | 6March2021 | AnnouncementonResignationofDirector |
| 13 | 2021-013 | 6March2021 | AnnouncementonCompletionoftheGrantofStockOption(theReserved)undertheStockOptionIncentivePlan(PhaseI)oftheCompany |
| 14 | 2021-014 | 16March2021 | AnnouncementonVoluntaryInformationDisclosureofBusinessVolumeDataofFebruary2021 |
| 15 | 2021-015 | 19March2021 | ReminderoftheIssuanceof2021PhaseIISuper-short-termFinancingBonds |
| 16 | 2021-016 | 24March2021 | AnnouncementonIssuedResultof2021PhaseIISuper-short-termFinancingBonds |
| 17 | 2021-017 | 31March2021 | AnnouncementonResolutionsofthe3rdMeetingofthe10thBoardofDirectors |
| 18 | 2021-018 | 31March2021 | AnnouncementonResolutionsofthe3rdMeetingofthe10thSupervisoryCommittee |
| 19 | 2021-019 | 31March2021 | Announcementon2020ProfitDistributionPlan |
| 20 | 2021-020 | 31March2021 | AbstractofAnnualReportof2020(ChineseandEnglishVersions) |
| 21 | 2021-021 | 31March2021 | AnnouncementontheConfirmationoftheContinuingRelated-PartyTransactionsin2020andtheEstimationofSuchTransactionsin2021 |
| 22 | 2021-022 | 31March2021 | AnnouncementontheRelated-PartyTransactionRegardingMaking |
DepositsinandObtainingLoansfromChinaMerchantsBankin2021
| DepositsinandObtainingLoansfromChinaMerchantsBankin2021 | |||
| 23 | 2021-023 | 31March2021 | AnnouncementontheExternalGuaranteeProgressoftheCompanyin2020andtheExpectedNewExternalGuaranteeLineintheNext12Months |
| 24 | 2021-024 | 31March2021 | SpecialReportoftheDepositandUseofAnnualRaisedFundsin2020 |
| 25 | 2021-025 | 31March2021 | AnnouncementonReappointmentofAccountingFirmin2021 |
| 26 | 2021-026 | 31March2021 | AnnouncementonBy-ElectionofDirector |
| 27 | 2021-027 | 31March2021 | AnnouncementontheDisclosureofthe2020AnnualResultsbyaMajority-OwnedSubsidiary |
| 28 | 2021-028 | 31March2021 | AnnouncementontheOnlineInvestorCommunicationonthe2020AnnualResultstoBeHeld |
Progressofanysharerepurchase:
□Applicable√NotapplicableProgressofanyreductionoftherepurchasedsharesthroughcentralizedbidding:
□Applicable√NotapplicableIIICommitmentsthattheCompany’sActualController,Shareholders,RelatedParties,Acquirers,theCompanyItselforOtherParties,FailedtoFulfillonTimeduringtheReportingPeriod
□Applicable√NotapplicableNosuchcasesintheReportingPeriod.IVFinancialInvestments
1.SecuritiesInvestments
Unit:RMB
| Varietyofsecurities | Codeofsecurities | Nameofsecurities | Initialinvestmentcost | Accountingmeasurementmodel | Beginningcarryingvalue | Gain/lossonfairvaluechangesintheReportingPeriod | Cumulativefairvaluechangesrecordedintoequity | PurchasedintheReportingPeriod | SoldintheReportingPeriod | Gain/lossintheReportingPeriod | Endingcarryingvalue | Accountingitem | Capitalresources |
| Stock | 06198 | Qingdao | 124,405,138.80 | Fair | 166,225,139.77 | -1,033,282.81 | 0 | 0 | 0 | 0 | 164,928,907.75 | Held-fo | Self-o |
Port
| Port | valuemethod | r-tradingfinancialassets | wned | ||||||||||
| Stock | 601298 | QingdaoPort | 331,404,250.30 | Fairvaluemethod | 720,160,000.00 | 61,600,000.00 | 0 | 0 | 0 | 0 | 781,760,000.00 | Held-for-tradingfinancialassets | Self-owned |
| Stock | 600377 | JiangsuExpressway | 1,120,000.00 | Fairvaluemethod | 10,786,800.00 | 0 | 555,000.00 | 0 | 0 | 0 | 11,526,800.00 | Investmentsinotherequityinstruments | Self-owned |
| Stock | 400032 | PetrochemicalA1 | 3,500,000.00 | Fairvaluemethod | 382,200.00 | 0 | 0 | 0 | 0 | 0 | 382,200.00 | Investmentsinotherequityinstruments | Self-owned |
| Stock | 400009 | GuangJian1 | 27,500.00 | Fairvaluemethod | 17,000.00 | 0 | 0 | 0 | 0 | 0 | 17,000.00 | Investmentsinotherequityinstruments | Self-owned |
| Total | 460,456,889.10 | -- | 897,571,139.77 | 60,566,717.19 | 555,000.00 | 0.00 | 0.00 | 0.00 | 958,614,907.75 | -- | -- | ||
2.InvestmentsinDerivativeFinancialInstruments
□Applicable√NotapplicableNosuchcasesintheReportingPeriod.VProgressofProjectsFinancedwithRaisedFunds
1.FundsRaisedthroughPrivatePlacementofSharesPursuanttotheReplyofChinaSecuritiesRegulatoryCommissionontheApprovalofShenzhenChiwanWharfHoldingsLimitedOfferingSharestoChinaMerchantsInvestmentDevelopmentCompanyLimitedforAssetAcquisitionandRaisingtheMatchingFunds(ZJXK[2018]No.1750)
dated31October2018,theCompanyissued,inaprivateplacement,atotalof128,952,746sharesofRMB-denominatedordinaryshares(A-shares)totwoentitiesincludingChina-AfricaDevelopmentFundatRMB17.16/share,raisingatotalofRMB2,212,829,121.36(withthenetamountafterdeductingissuancecostsbeingRMB2,185,997,340.15).Followingthearrivaloftheaforesaidfunds,BDOChinaShuLunPanCertifiedPublicAccountantsLLPissuedaCapitalVerificationReport(XKSBZ[2019]No.ZI10673).Asof31March2021,atotalofRMB6,868,288,448.85ofraisedfundshavebeenused,including:
(1)RMB582,722,414.48asthereplacementfortheself-financingsthathadbeeninadvanceinputintoprojecttobefinancedbyraisedfunds;(2)RMB828,734,253.16(afterthearrivaloftheraisedfunds)fortheHaixingHarborRenovationProject(PhaseII),withRMB324,533,139.29in2019,RMB424,734,590.46in2020,andRMB79,466,523.41inQ12021;(3)RMB26,831,781.21asissuancecosts;(4)RMB4,630,000,000.00wasusedforpurchasingstructureddeposits,includingRMB1,200,000,000.00in2019,RMB2,650,000,000.00in2020,andRMB780,000,000.00inQ12021;and(5)RMB800,000,000.00wasusedforpurchasingseven-daynoticedeposits,includingRMB800,000,000.00inQ12021.Asof31March2021,theinterestincomeintheaccountofraisedfundsduringQ12021minusservicechargesstoodatRMB94,383.71.TheincomefromstructureddepositsduringQ12021stoodatRMB4,062,794.52.Theincomefromseven-daynoticedepositsduringQ12021stoodatRMB33,750.00.Therefore,asof31March2021,thebalanceintheaccountofraisedfundsamountedtoRMB809,511,260.98.Theuseandbalanceoftheraisedfundsareasfollows:
Unit:RMB
Item
| Item | Amount |
| Openingbalanceofraisedfunds(1January2021) | 884,786,856.16 |
| Less:raisedfundsthatweredirectlyusedforprojecttobefinancedbyraisedfundsinQ12021 | 79,466,523.41 |
| Add:IncomefromstructureddepositsinQ12021 | 4,062,794.52 |
| Incomefromseven-daynoticedepositsinQ12021 | 33,750.00 |
| NetinterestincomefromraisedfundsinQ12021 | 94,383.71 |
Closingbalanceofraisedfunds(31March2021)
| Closingbalanceofraisedfunds(31March2021) | 809,511,260.98 |
2.FundsRaisedthroughCorporateBondsOn7July2020,theCompanyissuedRMB2billionofcorporatebondsattheShenzhenStockExchange,withacouponrateof3.36%andatermofthreeyears.Thefundsraisedwouldbeusedtoacquire1,606,855,919ordinarysharesinZhanjiangPort(accountingfor27.3544%ofZhanjiangPort’stotalissuedshares)fromtheissuer’swholly-ownedsubsidiaryChiwanWharfHoldings(HongKong)Limited.Asof31March2021,thehandoverofthesaidequityinterestshasbeencompleted.
VIOperatingPerformanceForecastforJanuary-June2021
Warningofaforecastlossonoraforecastsignificantyear-on-yearchangeintheaccumulativenetprofitfromthebeginningoftheyeartotheendofthenextreportingperiod,aswellastheirexplanation.
□Applicable√NotapplicableVIISignificantContractsArisingfromtheCompany’sOrdinaryCourseofBusiness
□Applicable√NotapplicableVIIICashEntrustedforWealthManagement
□Applicable√NotapplicableNosuchcasesintheReportingPeriod.IXIrregularitiesintheProvisionofGuarantees
□Applicable√NotapplicableNosuchcasesintheReportingPeriod.XOccupationoftheCompany’sCapitalbytheControllingShareholderoranyofItsRelatedPartiesforNon-OperatingPurposes
□Applicable√Notapplicable
NosuchcasesintheReportingPeriod.XICommunicationswiththeInvestmentCommunitysuchasResearches,InquiriesandInterviewsReceivedduringtheReportingPeriod
Date
| Date | Place | Wayofcommunication | Typeofcommunicationparty | Communicationparty | Indextobasicinformationofresearches |
| 22January2021 | ChinaMerchantsPortBuilding | One-on-onemeeting | Institution | OrientSecurities | Basicbusinesscondition,investmentsandthefinancialconditionoftheCompany;Materialsprovided:CorporateInformation;Index:SZSEEasyIR(http://irm.cninfo.com.cn/ircs/index) |
| 31March2021 | ChinaMerchantsPortBuilding | Teleconferencing | Institution | ChangjiangSecurities,CICC,IndustrialSecurities,GuotaiJunanSecurities,CMS,GuosenSecurities,GoldenEagleFund,PingAnCapital,HwabaoWPFundManagementCo.,Ltd.,YinhuaFund,CICCCapitalManagement,GreenCourtCapitalManagementLimited,HighGearCapital,FangyuanTianchengAssetManagement,RongyuanDingfengAsset,PanpeiInvestment,HonghuVentureCapital,YongAnInsurance,BeijingYingtianPuruimingInvestment | |
| 1January2021to31March2021 | ChinaMerchantsPortBuilding | Byphone,orwritteninquiry(theEasyIRplatformofSZSEoremail) | Individual | - | |
| Timesofcommunications | 22 | ||||
| Numberofinstitutionscommunicatedwith | 20 | ||||
| Numberofindividualscommunicatedwith | 20 | ||||
| Numberofothercommunicationparties | 0 | ||||
| Tip-offsorleakagesofsubstantialconfidentialinformationduringthecommunications | No | ||||
XIIIDepositsinandLoansProvidedbyaFinanceCompany
TheProposalonSigningFinancialServiceAgreementwithSinotrans&CSCFinanceCo.,Ltd.wasreviewedandapprovedonthe2
ndMeetingofthe9
thBoardofDirectorsheldbytheCompanyon23August2017,inwhich,theCompanywasagreedtosignedtheFinancialServiceAgreementwithSinotrans&CSCFinanceCo.,Ltd.(renamedChinaMerchantsGroupFinanceCo.,Ltd.fromAugust2017)withtheperiodofthreeyears.TheProposalonAdjustingLimitofDepositsandLoansandSigningSupplementaryAgreementtoFinancialServiceAgreementwithChinaMerchantsGroupFinanceCo.,LtdandtheRelated-partyTransactionswasreviewedandapprovedonthe5
th
Meetingofthe9
thBoardofDirectorsheldbytheCompanyon28March2019,inwhich,theCompanywasagreedtosignedSupplementaryAgreementtoFinancialServiceAgreementwithChinaMerchantsGroupFinanceCo.,Ltd.TheProposalonAdjustingLimitofDepositsandLoansandSigningSupplementaryAgreementIItoFinancialServiceAgreementwithChinaMerchantsGroupFinanceCo.,LtdandtheRelated-partyTransactionswasreviewedandapprovedonthe4
th
ExtraordinaryGeneralMeetingof2019heldbytheCompanyon11December2019,inwhich,theCompanywasagreedtosignedSupplementaryAgreementIItoFinancialServiceAgreementwithChinaMerchantsGroupFinanceCo.,Ltd.BytheendoftheReportingPeriod,depositsinandloansprovidedbyChinaMerchantsGroupFinanceCo.,Ltd.wereasfollows:
Unit:RMB’0,000
Item
| Item | Beginningbalance | Increase | Decrease | Endingbalance |
| I.DepositsinChinaMerchantsGroupFinanceCo.,Ltd. | 156,892.42 | 509,394.39 | 467,334.49 | 198,952.31 |
| II.LoansprovidedbyChinaMerchantsGroupFinanceCo.,Ltd. | 318,498.34 | 125,280.37 | 284,598.26 | 159,180.45 |
PartIVFinancialStatements
IFinancialStatements
1.ConsolidatedBalanceSheet
PreparedbyChinaMerchantsPortGroupCo.,Ltd.
31March2021
Unit:RMB
Item
| Item | 31March2021 | 31December2020 |
| Currentassets: | ||
| Cashandbankbalances | 10,160,143,564.88 | 11,918,423,758.71 |
| Settlementreserve | ||
| Interbankloansgranted | ||
| Held-for-tradingfinancialassets | 180,714.42 | 850,165,448.59 |
| Derivativefinancialassets | ||
| Notesreceivable | 41,997,461.69 | 5,391,994.84 |
| Accountsreceivable | 1,704,700,334.33 | 1,393,349,417.02 |
| Receivablesfinancing | 190,827,141.89 | 217,449,966.41 |
| Prepayments | 89,149,523.26 | 51,217,870.43 |
| Premiumsreceivable | ||
| Reinsurancereceivables | ||
| Receivablereinsurancecontractreserve | ||
| Otherreceivables | 3,865,304,696.32 | 3,561,292,313.98 |
| Including:Interestreceivable | ||
| Dividendreceivable | 525,621,580.62 | 258,137,208.69 |
| Financialassetspurchasedunderresaleagreements | ||
| Inventories | 218,184,176.92 | 214,823,976.30 |
| Contractassets | ||
| Assetsheldforsale | 337,442,757.28 | 337,442,757.28 |
| Non-currentassetsduewithinoneyear | 18,131,636.53 | 67,692,473.44 |
| Othercurrentassets | 422,130,716.19 | 434,074,085.16 |
| Totalcurrentassets | 17,048,192,723.71 | 19,051,324,062.16 |
Non-currentassets:
| Non-currentassets: | ||
| Loansandadvancestocustomers | ||
| Investmentsindebtobligations | ||
| Investmentsinotherdebtobligations | ||
| Long-termreceivables | 3,787,933,650.86 | 3,887,949,993.10 |
| Long-termequityinvestments | 66,778,754,012.98 | 66,242,411,222.90 |
| Investmentsinotherequityinstruments | 182,207,057.74 | 181,467,057.74 |
| Othernon-currentfinancialassets | 971,111,220.54 | 910,807,452.56 |
| Investmentproperties | 5,511,163,089.01 | 5,558,755,275.21 |
| Fixedassets | 28,988,433,977.60 | 29,479,755,159.21 |
| Constructioninprogress | 5,522,168,269.29 | 5,381,430,606.18 |
| Productivelivingassets | ||
| Oilandgasassets | ||
| Right-of-useassets | 9,023,085,724.80 | 9,087,741,812.94 |
| Intangibleassets | 18,249,824,430.33 | 18,772,180,542.10 |
| Developmentexpenditure | 71,515,261.68 | 64,237,735.23 |
| Goodwill | 6,480,381,803.18 | 6,675,939,930.13 |
| Long-termprepaidexpenses | 869,225,574.13 | 874,999,735.91 |
| Deferredtaxassets | 451,483,042.74 | 420,857,076.76 |
| Othernon-currentassets | 2,290,893,209.11 | 2,138,468,683.64 |
| Totalnon-currentassets | 149,178,180,323.99 | 149,677,002,283.61 |
| Totalassets | 166,226,373,047.70 | 168,728,326,345.77 |
| Currentliabilities: | ||
| Short-termborrowings | 6,276,256,293.11 | 10,483,775,548.93 |
| Borrowingsfromthecentralbank | ||
| Interbankloansobtained | ||
| Held-for-tradingfinancialliabilities | ||
| Derivativefinancialliabilities | ||
| Notespayable | 15,239,027.38 | 7,081,772.32 |
| Accountspayable | 648,506,733.50 | 607,972,699.59 |
| Receiptsinadvance | 42,174,396.12 | 39,510,127.90 |
| Contractliabilities | 152,072,562.52 | 157,442,109.67 |
| Financialassetssoldunderrepurchaseagreements | ||
| Customerdepositsandinterbankdeposits | ||
| Payablesforactingtradingof |
securities
| securities | ||
| Payablesforunderwritingofsecurities | ||
| Employeebenefitspayable | 465,864,435.41 | 726,897,125.42 |
| Taxespayable | 2,351,799,140.00 | 2,370,258,689.99 |
| Otherpayables | 2,003,606,343.05 | 2,481,217,568.40 |
| Including:Interestpayable | ||
| Dividendspayable | 70,406,079.29 | 70,388,849.49 |
| Handlingchargesandcommissionspayable | ||
| Reinsurancepayables | ||
| Liabilitiesdirectlyassociatedwithassetsheldforsale | ||
| Non-currentliabilitiesduewithinoneyear | 3,442,676,183.55 | 3,564,587,701.07 |
| Othercurrentliabilities | 3,178,989,371.10 | 2,383,668,985.94 |
| Totalcurrentliabilities | 18,577,184,485.74 | 22,822,412,329.23 |
| Non-currentliabilities: | ||
| Insurancecontractreserve | ||
| Long-termborrowings | 7,481,228,287.32 | 7,406,322,693.81 |
| Bondspayable | 21,078,131,367.94 | 21,090,545,845.56 |
| Including:Preferredshares | ||
| Perpetualbonds | ||
| Leaseliabilities | 1,286,629,882.92 | 1,327,850,984.08 |
| Long-termpayables | 1,206,740,733.67 | 1,228,461,573.69 |
| Long-termemployeebenefitspayable | 499,765,846.81 | 507,714,699.46 |
| Provisions | 124,668,468.26 | 100,406,745.66 |
| Deferredincome | 1,089,969,540.56 | 1,113,180,823.99 |
| Deferredtaxliabilities | 4,434,283,894.35 | 4,347,553,142.73 |
| Othernon-currentliabilities | 2,966,050,668.53 | 2,982,220,894.03 |
| Totalnon-currentliabilities | 40,167,468,690.36 | 40,104,257,403.01 |
| Totalliabilities | 58,744,653,176.10 | 62,926,669,732.24 |
| Shareholders'equity: | ||
| Sharecapital | 1,922,365,124.00 | 1,922,365,124.00 |
| Otherequityinstruments | ||
| Including:Preferredshares | ||
| Perpetualbonds | ||
| Capitalreserve | 23,106,457,826.08 | 22,839,598,324.56 |
Less:Treasurystock
| Less:Treasurystock | ||
| Othercomprehensiveincome | -927,601,375.41 | -826,697,303.06 |
| Specialreserve | 14,823,415.07 | 10,201,178.30 |
| Surplusreserves | 890,690,322.28 | 890,690,322.28 |
| Generalreserve | ||
| Unappropriatedprofit | 12,861,987,583.54 | 12,329,120,098.70 |
| Totalshareholders'equityattributabletoshareholdersoftheparent | 37,868,722,895.56 | 37,165,277,744.78 |
| Minorityinterests | 69,612,996,976.04 | 68,636,378,868.75 |
| Totalshareholders'equity | 107,481,719,871.60 | 105,801,656,613.53 |
| Totalliabilitiesandshareholders'equity | 166,226,373,047.70 | 168,728,326,345.77 |
LegalRepresentative:BaiJingtaoChiefFinancialOfficer:LuYongxinHeadofAccountingDepartment:SunLigan
2.BalanceSheetoftheCompanyastheParent
Unit:RMB
| Item | 31March2021 | 31December2020 |
| Currentassets: | ||
| Cashandbankbalances | 1,406,850,120.67 | 753,590,556.77 |
| Held-for-tradingfinancialassets | 800,000,000.00 | |
| Derivativefinancialassets | ||
| Notesreceivable | ||
| Accountsreceivable | 293.35 | |
| Receivablesfinancing | ||
| Prepayments | 21,492.49 | 32,236.27 |
| Otherreceivables | 1,221,061,069.33 | 1,102,712,752.04 |
| Including:Interestreceivable | ||
| Dividendreceivable | 331,192,061.01 | 311,297,793.86 |
| Inventories | ||
| Contractassets | ||
| Assetsheldforsale | ||
| Non-currentassetsduewithinoneyear | ||
| Othercurrentassets | 2,943,049.81 | 2,574,148.83 |
| Totalcurrentassets | 2,630,876,025.65 | 2,658,909,693.91 |
| Non-currentassets: | ||
| Investmentsindebtobligations | ||
| Investmentsinotherdebtobligations | ||
| Long-termreceivables | 8,668,250.20 | 8,667,950.38 |
| Long-termequityinvestments | 37,375,430,815.06 | 37,236,798,123.55 |
| Investmentsinotherequity | 156,350,830.00 | 155,610,830.00 |
instruments
| instruments | ||
| Othernon-currentfinancialassets | ||
| Investmentproperty | ||
| Fixedassets | 1,425,022.05 | 748,147.75 |
| Constructioninprogress | 3,502,416.12 | 3,502,416.12 |
| Productivelivingassets | ||
| Oilandgasassets | ||
| Right-of-useassets | ||
| Intangibleassets | 56,042,047.37 | 56,760,723.98 |
| Developmentexpenditure | ||
| Goodwill | ||
| Long-termprepaidexpense | 1,485,290.84 | 1,572,660.89 |
| Deferredtaxassets | 1,846,793.34 | 1,846,793.34 |
| Othernon-currentassets | ||
| Totalnon-currentassets | 37,604,751,464.98 | 37,465,507,646.01 |
| Totalassets | 40,235,627,490.63 | 40,124,417,339.92 |
| Currentliabilities: | ||
| Short-termborrowings | 1,501,527,777.81 | 2,174,486,432.93 |
| Held-for-tradingfinancialliabilities | ||
| Derivativefinancialliabilities | ||
| Notespayable | ||
| Accountspayable | ||
| Receiptsinadvance | ||
| Contractliabilities | ||
| Employeebenefitspayable | 22,634,672.48 | 27,085,844.52 |
| Taxespayable | 207,404,308.95 | 208,459,425.46 |
| Otherpayables | 430,047,708.09 | 460,457,238.16 |
| Including:Interestpayable | ||
| Dividendspayable | 34,577,578.12 | 34,577,578.12 |
| Liabilitiesdirectlyassociatedwithassetsheldforsale | ||
| Non-currentliabilitiesduewithinoneyear | 49,840,000.02 | 33,040,000.00 |
| Othercurrentliabilities | 3,021,350,181.34 | 2,224,519,555.57 |
| Totalcurrentliabilities | 5,232,804,648.69 | 5,128,048,496.64 |
| Non-currentliabilities: | ||
| Long-termborrowings | ||
| Bondspayable | 2,000,000,000.00 | 2,000,000,000.00 |
| Including:Preferredshares | ||
| Perpetualbonds | ||
| Leaseliabilities | ||
| Long-termpayables | ||
| Long-termemployeebenefits |
payable
| payable | ||
| Provisions | ||
| Deferredincome | ||
| Deferredtaxliabilities | 43,604,526.51 | 43,419,526.51 |
| Othernon-currentliabilities | ||
| Totalnon-currentliabilities | 2,043,604,526.51 | 2,043,419,526.51 |
| Totalliabilities | 7,276,409,175.20 | 7,171,468,023.15 |
| Shareholders'equity: | ||
| Sharecapital | 1,922,365,124.00 | 1,922,365,124.00 |
| Otherequityinstruments | ||
| Including:Preferredshares | ||
| Perpetualbonds | ||
| Capitalreserves | 27,596,231,353.70 | 27,591,847,402.73 |
| Less:Treasurystock | ||
| Othercomprehensiveincome | 106,091,222.50 | 105,536,222.50 |
| Specialreserve | ||
| Surplusreserves | 890,690,322.28 | 890,690,322.28 |
| Unappropriatedprofit | 2,443,840,292.95 | 2,442,510,245.26 |
| Totalshareholders'equity | 32,959,218,315.43 | 32,952,949,316.77 |
| Totalliabilitiesandshareholders'equity | 40,235,627,490.63 | 40,124,417,339.92 |
3.ConsolidatedIncomeStatement
Unit:RMB
| Item | Q12021 | Q12020 |
| 1.Operatingincome | 3,574,128,378.48 | 2,903,610,633.29 |
| Including:Operatingincome | 3,574,128,378.48 | 2,903,610,633.29 |
| Interestincome | ||
| Premiumincome | ||
| Handlingchargeandcommissionincome | ||
| 2.Costsandexpenses | 2,845,927,469.64 | 2,835,707,541.27 |
| Including:Operatingcosts | 2,007,544,534.80 | 1,876,541,599.90 |
| Interestexpense | ||
| Handlingchargeandcommissionexpense | ||
| Surrenders | ||
| Netclaimspaid | ||
| Netamountprovidedaspolicyreserve | ||
| Expenditureonpolicydividends | ||
| Reinsurancepremiumexpense | ||
| Taxesandsurcharges | 41,717,436.22 | 37,131,946.52 |
| Sellingexpense | ||
| Administrativeexpenses | 377,820,396.13 | 352,018,157.94 |
| Researchanddevelopmentexpenses | 44,463,870.59 | 33,163,614.88 |
| Financeexpenses | 374,381,231.90 | 536,852,222.03 |
Including:Interestexpense
| Including:Interestexpense | 434,147,689.21 | 492,343,508.30 |
| Interestincome | 91,196,956.90 | 50,661,868.43 |
| Add:Otherincome | 26,409,425.41 | 35,185,254.39 |
| Investmentincome(Lossismarkedwith"-") | 1,041,036,342.43 | 660,216,031.98 |
| Including:Incomefrominvestmentsinassociatesandjointventures | 1,036,720,640.64 | 639,704,971.92 |
| Incomefromthederecognitionoffinancialassetsatamortizedcost(Lossismarkedwith"-") | ||
| Foreignexchangegain(Lossismarkedwith"-") | ||
| Netgainonexposurehedges(Lossismarkedwith"-") | ||
| Gainsfromchangesinfairvalue(Lossismarkedwith"-") | -168,400,154.98 | -188,668,882.47 |
| Gainsfromimpairmentofcredit(Lossismarkedwith"-") | -3,542,445.15 | -4,005,231.54 |
| Gainsfromimpairmentofassets(Lossismarkedwith"-") | 947,693.77 | |
| Gainsondisposalofassets(Lossismarkedwith"-") | 13,401,172.17 | 13,807,774.32 |
| 3.Operatingprofit(Lossismarkedwith"-") | 1,637,105,248.72 | 585,385,732.47 |
| Add:Non-operatingincome | 5,495,288.51 | 5,471,079.73 |
| Less:Non-operatingexpenses | 3,575,349.46 | 9,856,686.53 |
| 4.Grossprofit(Lossismarkedwith"-") | 1,639,025,187.77 | 581,000,125.67 |
| Less:Incometaxexpenses | 265,348,021.64 | 170,459,172.82 |
| 5.Netprofit(Lossismarkedwith"-") | 1,373,677,166.13 | 410,540,952.85 |
| 5.1Categorizationbycontinuityofoperation | ||
| 5.1.1Netprofitfromcontinuingoperation(Lossismarkedwith"-") | 1,373,677,166.13 | 410,540,952.85 |
| 5.1.2Netprofitfromdiscontinuedoperation(Lossismarkedwith"-") | ||
| 5.2Categorizationbyattributionofownership | ||
| 5.2.1Netprofitattributabletoshareholdersoftheparent | 532,867,484.84 | 149,234,067.89 |
| 5.2.2Profitorlossattributabletominorityshareholders | 840,809,681.29 | 261,306,884.96 |
| 6.Othercomprehensiveincome,netoftax | -384,544,155.52 | -1,507,888,654.28 |
| Othercomprehensiveincomeattributabletoownersoftheparent,netoftax | -100,904,072.35 | -504,356,543.64 |
| 6.1Othercomprehensiveincomethatwillnotbereclassifiedtoprofitorloss | 555,000.00 | -105,000.00 |
| 6.1.1Changesfromremeasurementofthedefinedbenefitplan | ||
| 6.1.2Othercomprehensiveincomethatcannotbereclassifiedtoprofitorlossundertheequitymethod | ||
| 6.1.3Fairvaluechangesofinvestmentsinotherequity | 555,000.00 | -105,000.00 |
instruments
| instruments | ||
| 6.1.4Changesinthefairvalueofthecompany’screditrisks | ||
| 6.1.5Other | ||
| 6.2Othercomprehensiveincomethatwillbereclassifiedsubsequentlytoprofitorloss | -101,459,072.35 | -504,251,543.64 |
| 6.2.1Othercomprehensiveincomethatcanbereclassifiedtoprofitorlossundertheequitymethod | 4,801,689.64 | -82,409.78 |
| 6.2.2Changesinthefairvalueofinvestmentsinotherdebtobligations | ||
| 6.2.3Othercomprehensiveincomearisingfromthereclassificationoffinancialassets | ||
| 6.2.4Allowanceforcreditimpairmentsininvestmentsinotherdebtobligations | ||
| 6.2.5Reserveforcashflowhedges | ||
| 6.2.6Translationdifferencesoffinancialstatementsdenominatedinforeigncurrencies | -106,260,761.99 | -504,169,133.86 |
| 6.2.7Other | ||
| Othercomprehensiveincomeattributabletominorityinterests,netoftax | -283,640,083.17 | -1,003,532,110.64 |
| 7.Totalcomprehensiveincomeattributableto | 989,133,010.61 | -1,097,347,701.43 |
| Shareholdersoftheparent | 431,963,412.49 | -355,122,475.75 |
| Minorityshareholders | 557,169,598.12 | -742,225,225.68 |
| 8.Earningspershare | ||
| 8.1Basicearningspershare | 0.28 | 0.08 |
| 8.2Dilutedearningspershare | 0.28 | 0.08 |
Wherebusinesscombinationsundercommoncontroloccurredinthecurrentperiod,thenetprofitachievedbytheacquireesbeforethecombinationswasRMB-3,255,790.50,withtheamountforlastyearbeingRMB-2,719,242.00.LegalRepresentative:BaiJingtaoChiefFinancialOfficer:LuYongxinHeadofAccountingDepartment:SunLigan
4.IncomeStatementoftheCompanyastheParent
Unit:RMB
| Item | Q12021 | Q12020 |
| 1.Operatingincome | 276.75 | |
| Less:Operatingcosts | 566,489.90 | 566,489.91 |
| Taxesandsurcharges | ||
| Sellingexpense | ||
| Administrativeexpenses | 28,384,928.99 | 19,314,560.24 |
| Researchanddevelopmentexpenses |
Financeexpenses
| Financeexpenses | 37,259,315.60 | 2,285,160.32 |
| Including:Interestexpense | 48,483,317.00 | 6,212,087.86 |
| Interestincome | 11,401,221.71 | 7,187,296.00 |
| Add:Otherincome | 132,571.46 | 329,651.83 |
| Investmentincome(Lossismarkedwith"-") | 67,407,933.97 | 16,645,254.11 |
| Including:Incomefrominvestmentsinassociatesandjointventures | 39,949,365.78 | 6,913,473.29 |
| Incomefromthederecognitionoffinancialassetsatamortizedcost(Lossismarkedwith"-") | ||
| Netgainonexposurehedges(Lossismarkedwith"-") | ||
| Gainsfromchangesinfairvalue(Lossismarkedwith"-") | ||
| Gainsfromimpairmentofcredit(Lossismarkedwith"-") | ||
| Gainsfromimpairmentofassets(Lossismarkedwith"-") | ||
| Gainsondisposalofassets(Lossismarkedwith"-") | ||
| 2.Operatingprofit(Lossismarkedwith"-") | 1,330,047.69 | -5,191,304.53 |
| Add:Non-operatingincome | ||
| Less:Non-operatingexpense | ||
| 3.Grossprofit(Lossismarkedwith"-") | 1,330,047.69 | -5,191,304.53 |
| Less:Incometaxexpenses | ||
| 4.Netprofit(Lossismarkedwith"-") | 1,330,047.69 | -5,191,304.53 |
| 4.1Netprofitfromcontinuingoperation(Lossismarkedwith"-") | 1,330,047.69 | -5,191,304.53 |
| 4.2Netprofitfromdiscontinuedoperation(Lossismarkedwith"-") | ||
| 5.Othercomprehensiveincome,netoftax | 555,000.00 | -105,000.00 |
| 5.1Othercomprehensiveincomethatcannotbereclassifiedtoprofitorloss | 555,000.00 | -105,000.00 |
| 5.1.1Changesfromremeasurementofthedefinedbenefitplan | ||
| 5.1.2Othercomprehensiveincomethatcannotbereclassifiedtoprofitorlossundertheequitymethod | ||
| 5.1.3Fairvaluechangesofinvestmentsinotherequityinstruments | 555,000.00 | -105,000.00 |
| 5.1.4Changesinthefairvalueofthecompany’screditrisks | ||
| 5.1.5Other | ||
| 5.2Othercomprehensiveincomethatwillbereclassifiedsubsequentlytoprofitorloss | ||
| 5.2.1Othercomprehensiveincomethatcanbereclassifiedtoprofitorlossundertheequitymethod | ||
| 5.2.2Changesinthefairvalueofinvestmentsinotherdebtobligations | ||
| 5.2.3Othercomprehensiveincomearisingfromthereclassificationoffinancialassets | ||
| 5.2.4Allowanceforcreditimpairmentsininvestmentsinotherdebtobligations | ||
| 5.2.5Reserveforcashflowhedges | ||
| 5.2.6Translationdifferencesoffinancialstatementsdenominatedinforeigncurrencies | ||
| 5.2.7Other | ||
| 6.Totalcomprehensiveincome | 1,885,047.69 | -5,296,304.53 |
7.Earningspershare
| 7.Earningspershare |
| 7.1Basicearningspershare |
| 7.2Dilutedearningspershare |
5.ConsolidatedCashFlowStatement
Unit:RMB
| Item | Q12021 | Q12020 |
| 1.Cashflowsfromoperatingactivities: | ||
| Cashreceiptsfromsalesofgoodsandrenderingofservices | 3,264,569,109.89 | 2,659,399,100.04 |
| Netincreaseincustomerdepositsandinterbankdeposits | ||
| Netincreaseinborrowingsfromthecentralbank | ||
| Netincreaseinloansfromotherfinancialinstitutions | ||
| Premiumsreceivedonoriginalinsurancecontracts | ||
| Netproceedsfromreinsurance | ||
| Netincreaseindepositsandinvestmentsofpolicyholders | ||
| Interest,handlingchargesandcommissionsreceived | ||
| Netincreaseininterbankloansobtained | ||
| Netincreaseinproceedsfromrepurchasetransactions | ||
| Netproceedsfromactingtradingofsecurities | ||
| Receiptsoftaxrefunds | 757,301.82 | 686,901.98 |
| Othercashreceiptsrelatingtooperatingactivities | 166,292,401.99 | 216,563,166.59 |
| Sub-totalofcashinflows | 3,431,618,813.70 | 2,876,649,168.61 |
| Cashpaymentsforgoodspurchasedandservicesreceived | 923,792,637.84 | 819,503,885.72 |
| Netincreaseinloansandadvancestocustomers | ||
| Netincreaseindepositsinthecentralbankandininterbankloansgranted | ||
| Paymentsforclaimsonoriginalinsurancecontracts | ||
| Netincreaseininterbankloansgranted | ||
| Interest,handlingchargesandcommissionspaid | ||
| Policydividendspaid | ||
| Cashpaymentstoandonbehalfofemployees | 1,051,108,651.64 | 890,234,495.21 |
| Paymentsofvarioustypesoftaxes | 396,738,259.71 | 160,849,940.31 |
| Othercashpaymentsrelatingtooperatingactivities | 179,039,071.07 | 177,906,963.20 |
| Sub-totalofcashoutflows | 2,550,678,620.26 | 2,048,495,284.44 |
| NetCashFlowsfromOperatingActivities | 880,940,193.44 | 828,153,884.17 |
| 2.Cashflowsfrominvestingactivities: | ||
| Cashreceiptsfromdisposalsandrecoveryofinvestments | 1,730,000,000.00 | 1,092,096.82 |
| Cashreceiptsfrominvestmentsincome | 1,083,443,879.50 | 211,664,358.76 |
| Netcashreceiptsfromdisposaloffixedassets,intangibleassets | 13,739,634.14 | 735,622.52 |
andotherlong-termassets
| andotherlong-termassets | ||
| Netcashreceiptsfromdisposalofsubsidiariesandotheroperatingunits | ||
| Othercashreceiptsrelatingtoinvestingactivities | 184,258,181.77 | 1,601,601,419.52 |
| Sub-totalofcashinflows | 3,011,441,695.41 | 1,815,093,497.62 |
| Cashpaymentstoacquireorconstructfixedassets,intangibleassetsandotherlong-termassets | 762,007,467.39 | 503,148,899.07 |
| Cashpaymentstoacquireinvestments | 977,561,289.86 | 2,746,841,398.03 |
| Netincreaseinpledgedloansgranted | ||
| Netcashpaymentsforacquisitionsofsubsidiariesandotherbusinessunits | 8,748,637.26 | |
| Othercashpaymentsrelatingtoinvestingactivities | 5,967,866.95 | 3,792,979,774.69 |
| Sub-totalofcashoutflows | 1,754,285,261.46 | 7,042,970,071.79 |
| Netcashflowsfrominvestingactivities | 1,257,156,433.95 | -5,227,876,574.17 |
| 3.Cashflowsfromfinancingactivities: | ||
| Cashreceiptsfromcapitalcontributions | ||
| Including:CashreceiptsfromcapitalcontributionsfromMinorityshareholderofsubsidiary | ||
| Cashreceiptsfromborrowings | 4,513,459,100.62 | 8,281,485,148.10 |
| Othercashreceiptsrelatingtofinancingactivities | ||
| Sub-totalofcashinflows | 4,513,459,100.62 | 8,281,485,148.10 |
| Cashrepaymentsofborrowings | 7,886,158,730.55 | 3,167,336,858.98 |
| Cashpaymentsfordistributionofdividendsorprofitsorsettlementofinterestexpenses | 519,589,430.57 | 647,207,743.80 |
| Including:PaymentsfordistributionofdividendsorprofitstoMinorityshareholderofsubsidiary | 37,213,769.69 | 58,380,000.00 |
| Othercashpaymentsrelatingtofinancingactivities | 1,760,847.73 | 447,602,677.41 |
| Sub-totalofcashoutflows | 8,407,509,008.85 | 4,262,147,280.19 |
| Netcashflowsfromfinancingactivities | -3,894,049,908.23 | 4,019,337,867.91 |
| 4.Effectofforeignexchangeratechangesoncashandcashequivalents | -4,855,902.26 | -68,824,378.45 |
| 5.Netincreaseincashandcashequivalents | -1,760,809,183.10 | -449,209,200.54 |
| Add:OpeningbalanceofCashandCashEquivalents | 11,899,943,358.25 | 7,787,660,214.80 |
| 6.Closingbalanceofcashandcashequivalents | 10,139,134,175.15 | 7,338,451,014.26 |
6.CashFlowStatementoftheCompanyastheParent
Unit:RMB
| Item | Q12021 | Q12020 |
1.Cashflowsfromoperatingactivities:
| 1.Cashflowsfromoperatingactivities: | ||
| Cashreceiptsfromsalesofgoodsandrenderingofservices | ||
| Receiptsoftaxrefunds | ||
| Othercashreceiptsrelatingtooperatingactivities | 8,097,981.62 | 67,957,173.78 |
| Sub-totalofcashinflows | 8,097,981.62 | 67,957,173.78 |
| Cashpaymentsforgoodspurchasedandservicesreceived | ||
| Cashpaymentstoandonbehalfofemployees | 21,684,266.19 | 14,948,227.54 |
| Paymentsofvarioustypesoftaxes | 261,252.83 | |
| Othercashpaymentsrelatingtooperatingactivities | 16,108,140.90 | 4,119,679.42 |
| Sub-totalofcashoutflows | 38,053,659.92 | 19,067,906.96 |
| NetCashFlowsfromOperatingActivities | -29,955,678.30 | 48,889,266.82 |
| 2.Cashflowsfrominvestingactivities: | ||
| Cashreceiptsfromdisposalsandrecoveryofinvestments | 1,580,000,000.00 | |
| Cashreceiptsfrominvestmentsincome | ||
| Netcashreceiptsfromdisposaloffixedassets,intangibleassetsandotherlong-termassets | ||
| Netcashpaymentsforacquisitionsofsubsidiariesandotherbusinessunits | ||
| Othercashreceiptsrelatingtoinvestingactivities | 1,120,000,000.00 | |
| Sub-totalofcashinflows | 1,580,000,000.00 | 1,120,000,000.00 |
| Cashpaymentstoacquireorconstructfixedassets,intangibleassetsandotherlong-termassets | 897,916.00 | 600,000.00 |
| Cashpaymentstoacquireinvestments | 877,561,289.86 | |
| Netcashpaymentsforacquisitionsofsubsidiariesandotherbusinessunits | ||
| Othercashpaymentsrelatingtoinvestingactivities | 87,258,393.27 | 45,918,914.21 |
| Sub-totalofcashoutflows | 965,717,599.13 | 46,518,914.21 |
| Netcashflowsfrominvestingactivities | 614,282,400.87 | 1,073,481,085.79 |
| 3.Cashflowsfromfinancingactivities: | ||
| Cashreceiptsfromcapitalcontributions | ||
| Cashreceiptsfromborrowings | 2,799,840,000.00 | 699,482,800.00 |
| Othercashreceiptsrelatingtofinancingactivities | ||
| Sub-totalofcashinflows | 2,799,840,000.00 | 699,482,800.00 |
| Cashrepaymentsofborrowings | 2,672,563,339.18 | 1,000,000,000.00 |
| Cashpaymentsfordistributionofdividendsorprofitsor | 58,312,234.06 | 16,524,793.03 |
settlementofinterestexpenses
| settlementofinterestexpenses | ||
| Othercashpaymentsrelatingtofinancingactivities | ||
| Sub-totalofcashoutflows | 2,730,875,573.24 | 1,016,524,793.03 |
| Netcashflowsfromfinancingactivities | 68,964,426.76 | -317,041,993.03 |
| 4.Effectofforeignexchangeratechangesoncashandcashequivalents | -31,585.43 | 29,860.08 |
| 5.Netincreaseincashandcashequivalents | 653,259,563.90 | 805,358,219.66 |
| Add:OpeningbalanceofCashandCashEquivalents | 753,590,556.77 | 690,685,211.42 |
| 6.Closingbalanceofcashandcashequivalents | 1,406,850,120.67 | 1,496,043,431.08 |
IIAdjustmentstotheFinancialStatements
1.AdjustmentstotheFinancialStatementsattheBeginningoftheInitialExecutionYearoftheNewStandardsGoverningLeasesfrom2021
□Applicable√Notapplicable
2.RetrospectiveRestatementofPreviousComparativeDataduetotheInitialExecutionoftheNewStandardsGoverningLeasesfrom2021
□Applicable√Notapplicable
IIIIndependentAuditor’sReport
Isthisreportaudited?
□Yes√NoThisreportisnotaudited.
TheBoardofDirectorsChinaMerchantsPortGroupCo.,Ltd.
30April2021