[一季报]招商局Ｂ：2014年第一季度报告正文（英文版）
时间：2014年04月18日 00:21:06 中财网
CMPD the 1st Quarterly Report 2014 (Main Text t)
Stock Code: 000024, 200024 Stock ID: CMPD, CMPD B
Announcement No.:【CMPD】2014－027
China Merchants Property Development Co., Ltd.
The 1st Quarterly Report 2014 (Main Text)
§1 Important Declaration
1.1 The Board of Directors, the Supervisory Committee, the directors, supervisors and executives of the Company
guarantee that there are no significant omissions, fictitious or misleading statements carried in the Report and we
will accept individual and joint responsibilities for the truthfulness, accuracy and completeness of the Report.
1.2 All of the directors presented the board meeting at which this Quarterly Report was examined.
1.3 The 1st Quarterly Financial Statements 2014 were not audited by a CPA.
1.4 Mr. Sun Chengming - the legal representative, Ms. Wu Zhenqin –
the chief financial officer, and Ms. Li
Shifang –
the manager of accounting department declare: the financial reports carried in this report are secured
for its truthfulness and completeness.
1.5 This report is prepared both in English and Chinese. When there is any conflict in understanding, the Chinese
version shall prevail.
§2 Financial Highlights and Change of Shareholders
2.1 Main accounting data and financial index
Was there any retrospective adjustment or restatement for the previous year accounting data?
□ Yes √ No
This report period The same period of last year Increase/decrease (%)
Operating income (RMB) 7,250,648,108.95 6,144,504,542.89 18.00%
Net profit attributable to shareholders of the listed
company (RMB)
755,433,248.27 810,701,084.56 -6.82%
Net profit attributable to shareholders of the listed
company after deducting non-recurring gains and
losses (RMB)
794,757,195.17 801,556,684.90 -0.85%
Net cash flow from operating activities
(RMB)
-4,330,633,173.95 790,021,934.12 -648.17%
Basic earnings per share (RMB/share) 0.44 0.47 -6.38%
Diluted earnings per share (RMB/share) 0.44 0.47 -6.38%
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CMPD the 1st Quarterly Report 2014 (Main Text t)
Weighted average net income/asset ratio (%) 2.79% 3.41% Down by 0.62%
End of this report period End of last year Increase/decrease (%)
Total asset (RMB) 134,967,470,187.77 134,040,446,989.65 0.69%
Net asset value attributable to shareholders of the
listed company (RMB)
27,480,935,215.51 26,725,501,967.24 2.83%
As of the trading day before disclosure, the total share capital of the company is 1,717,300,503 shares. From the period-end to the
disclosure day of the quarterly report, the company did not change or influence the amount of owner's equity through issue of new
shares, issue of additional stock, allotment of shares, equity-based incentive and buyback.
Non-recurring gain/ loss items and amounts
√ Applicable □
Not Applicable Unit: RMB
Non-recurring gain and loss items
Amount from beginning of year to the end of report
period
Gain/loss of non-current assets -19,616.60
Government subsidies 518,000.00
Other non-operating income/expenditure net of the items above -1,125,144.84
Other items in line with definition of non-recurring gain/loss -38,732,418.92
Influences on minority shareholders’ gains/ losses 43,143.89
Impact on income tax -7,910.43
Total -39,323,946.90
Note: The Shenzhen China Merchants Overseas Chinese Town Investment Co., Ltd (SCMOCTI) was a subsidiary of the
Company, and a change of control occurred on April 1, 2013. According to Interpretation No. 4 of the Accounting Standards for
Business Enterprises, the change of control of SCMOCTI is deemed as the disposal of equity by our company. The remaining equity
is re-measured at fair value. The difference between the fair value and the original book value of the remaining equity is recognized
as the investment income of the year totaling RMB339,878,500. As the fair value of the remaining equity is the assessment
appreciation of inventory, the company carried back RMB38,732,418.92 of long-term equity investment appreciation confirmed by
assessment appreciation according to the ratio of inventory area actually carried forward during January-March of the year to the
available area for sale in the inventory to be carried forward on the assessment day.
√ Applicable □ Not Applicable
2.2 Total of shareholders and top-10 holders of current shares
Unite: Shares
Total number of shareholders at
the end of the report period
66,588 (including 56,747 A-share holders and 9,841 B-share holders)
Shareholding of top 10 shareholders
Name of shareholder
Class of
shareholder
Share
proportion
Amount of holding
shares
Restricted
shares
Pledged or luck-up
shares
2
CMPD the 1st Quarterly Report 2014 (Main Text t)
(%) Share state Amount
China Merchants Shekou Industrial Zone
Co., Ltd.
State-owned legal
person
40.38% 693,419,317 693,419,317 None None
FULL SPACE INVESTMENT LIMITED
Overseas legal
person
5.48% 94,144,050 94,144,050 None None
China Merchants Securities Hong Kong
Co., Ltd.
Overseas legal
person
2.91% 49,898,818 49,242,245 None None
FOXTROT INTERNATIONAL LIMITED
Overseas legal
person
1.61% 27,720,000 27,720,000 None None
ORIENTURE INVESTMENT LTD
Overseas legal
person
1.55% 26,603,145 26,603,145 None None
Full Goal Tianfu Innovative Theme Equity
Securities Investment Fund
Domestic none
state-owned legal
person
1.11% 19,009,918 None None None
China Pacific life insurance Co., Ltd.－
Traditional－General Insurance Products
Domestic none
state-owned legal
person
1.08% 18,501,423
None
None None
China Pacific life insurance Co., Ltd.－
Dividends - Personal Dividends
Domestic none
state-owned legal
person
0.76% 12,965,823
None
None None
GOLDEN CHINA MASTER FUND
Overseas legal
person
0.75% 12,873,191
None
None None
National Social Insurance Fund 102
Combination
Domestic none
state-owned legal
person
0.73% 12,546,211 None None None
Top 10 holders of unconditional shares
Name of the shareholder
Amount of shares without
trade limited conditions
Category of shares
Category of
shares
Amount
Full Goal Tianfu Innovative Theme Equity Securities Investment
Fund
19,009,918 A shares 19,009,918
China Pacific Life Insurance Co., Ltd.－Traditional－General
Insurance Products
18,501,423 A shares 18,501,423
China Pacific Life Insurance Co., Ltd.－Dividends - Personal
Dividends
12,965,823
A shares
12,965,823
GOLDEN CHINA MASTER FUND 12,873,191 B shares 12,873,191
National Social Insurance Fund 102 Combination 12,546,211 A shares 12,546,211
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CMPD the 1st Quarterly Report 2014 (Main Text t)
New China Life Insurance Co., Ltd - Dividends - Personal
Dividends – 018L - FH002 Shen
11,850,000
A shares
11,850,000
VALUE PARTNERS CLASSIC FUND 11,121,713 B shares 11,121,713
GF Small-capitalization Growth Equity Securities Investment Fund 10,552,812 A shares 10,552,812
Huaxin Trust Co., Ltd 9,767,652 A shares 9,767,652
BOCI SECURITIES LIMITED 9,483,400 B shares 9,483,400
1. In the Company shares held by China Merchants Securities Hong Kong Co., Ltd., 49,242,245 shares were bought in by Top Chief in
the previous year through entrustment;
2. Shekou Industrial Zone and its subsidiaries Full Space Investment, Top Chief International, FOXTROT INTERNATIONAL
LIMITED, and ORIENTURE INVESTMENT LTD are persons acting in concert.
3. China Pacific Life Insurance Co., Ltd.－Traditional－General Insurance Products and China Pacific Life Insurance Co., Ltd.－
Dividends - Personal Dividends belong to the same fund management company.
Do the shareholders of the Company have the agreement repurchase transactions during the report period?
□ Yes √ No
§3 Significant Events
3.1 Situation and causations of major change in accounting items and indices
Assets and liabilities items March 31, 2014
December 31,
2013
Increase/
Decrease (±%)
Major Change Reasons
Accounts receivable 12,192 7,686 0.03%
Increase of receivables from
sale of real estate
Accrued employee
compensation
16,702 38,589 -0.16% Payment of accrued payroll
Interest payable 23,595 15,236 0.06%
Increase of interests payable
on bank borrowings
Dividends payable 512 12,093 -0.09% Payment of accrued dividends
Gain/ loss items Jan-Mar, 2014 Jan-Mar, 2013
Increase/
Decrease (±%)
Major Change Reasons
Operating cost 457,655 303,870 51%
Increase of sales of real estate
carried forward during the
period
Operating tax and additional
expenses
73,277 107,257 -32%
As the margin of the items
carried forward is low, the land
appreciation tax decreased.
Financial cost 21,683 6,255 247%
The interest payment and
foreign exchange losses of the
period increased on the
year-over-year basis.
Investment income 11,944 231 5082%
The investment income
increased due to the changes of
the equity act of affiliated
company.
4
CMPD the 1st Quarterly Report 2014 (Main Text t)
Cash flow items Jan-Mar, 2014 Jan-Mar, 2013
Increase/
Decrease (±%)
Major Change Reasons
Sub-total of cash outflow from
business activities
1,458,050 925,954 57%
The land and infrastructure
expenses increased than one
year earlier.
Net cash flow generated by
business operation
-433,064 79,003 -648%
The growth of operating cash
outflow is larger than that of
the operating cash inflow.
Sub-total of cash outflow due
to investment activities
7,150 4,374 63% The cash paid for acquisition
of equity increased.
Net cash flow generated by
investment
-7,150 -4,361 64%
Cash outflows year-on-year
increased, but cash inflows
year-on-year decreased in the
investment activities.
Subtotal of cash inflow from
financing activities
348,257 710,170 -51%
New borrowings of the period
decreased.
Subtotal of cash outflow due to
financing activities
374,651 203,812 84%
Repayment of borrowings
increased.
3.2 Progress of major issue and their influences and solutions
Overview of Major Issue Disclosure Date
References of Disclosure
Websites of Interim Report
At the second extraordinary general meeting of
shareholders in 2013, the Company has discussed and
passed the proposal in which shares will be issued to buy
assets and raise money for the associated transactions. On
Nov 28, 2013, the company received the notice on
processing application for administrative approval. That
means the China Securities Regulatory Commission has
accepted the application of administrative approval the
company has filed for the issue of new shares to buy
assets and raise money for the associated deal. The
application remains in the stage of review.
Nov 29, 2013; Nov 8, 2013; Oct. 23,
2013; Oct. 16, 2013; Sep 17, 2013
For more information, please
refer to China Securities News,
Securities Times, Shanghai
Securities News, Hong Kong
Commercial Daily, Securities
Daily and
3.3 Commitment issues made by the Company or shareholders with over 5% of shares in the
report term or carried down from the previous terms.
Commitments
Party of
commitment
Content of Commitments
Date of
commitme
nt
Term of
commitment
Status of
fulfilling
Commitment in
share equity
relocation
CMSIZ
Will input properties including high quality lands to support
the Company’s development after the share equity
relocation.
Dec 9
2005
Due at the day
after two years
upon stop
In the report
term,
CMSIZ was
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CMPD the 1st Quarterly Report 2014 (Main Text t)
holding of the
Company’s
shares
fully acting
as
committed.
Other
commitments to
mid-small
shareholders
CMSIZ
CMSIZ, the controlling shareholder of the Company,
promised not to conduct or participate with 3rd parties in
any business or activities possibly competing with the
Company in terms of business, new commodities and new
technology in any forms (including but not limited to direct
operation, indirect operation, joint investment). Never use
the information obtained from the Company to conduct or
participate in and competitive activities against the
Company.
Mar 19
2008
Due at the day
after two years
upon stop
holding of the
Company’s
shares
In the report
term,
CMSIZ was
fully acting
as
committed.
3.4 Non-operating capital occupying conditions of controlling shareholders and their related
parties for listed company
Unit: 0,000 RMB
Names of
shareholders or
related persons
Holding time Reasons
Opening
balance
Amount of
newly
increased
occupying
during
report
period
Total
repay
amoun
t
during
report
period
Closing
balance
Predicte
d repay
way
Predicte
d repay
amount
Predicted
repay time
(month)
Shanghai New September,
Nanshan Real
Estate Development
2011 to now Fund
borrowing
14,934 2,070 -17,004
Cash
pay off
17,004
December,
2014
Co., Ltd
Jones Tech Limited December, 2012
to now
Reinvest
ment fund
6,243 -6,243 ----
Holly Profit
Limited
December, 2012
to now
Reinvest
ment fund
9,255 -9,255 ----
Blue Cove
International Ltd
December, 2013
to now
Reinvest
ment fund
4,481 -4,481 ----
Powerwise
International Ltd
December, 2013
to now
Reinvest
ment fund
8,903 -8,903 ----
Total 43,816 2,070 28,882 17,004 -17,004 -
3.5 Business forecast for January-June in 2014
Alert of loss or significant change in net profit from the beginning of year to the end of next report period or comparing with the
same period of last year, and statement of causations.
□Applicable √ Not applicable
3.6 Securities investment
□Applicable √ Not applicable
6
CMPD the 1st Quarterly Report 2014 (Main Text t)
Explanation of holding stock rights of other listed companies
□Applicable √ Not applicable
3.7 Investment of derivate instruments
Derivate instruments in stock at the end of period
□Applicable √ Not applicable
3.8 Table about investigations, communications and interviews received by the Company
during the report period
Reception date Reception place Reception way
Received object
type
Received object
Content discussed and
information provided
January 4, 2014 Shenzhen
Telephone
communication
Institutional
investor
China Securities
①
Introducing operation
of the Company
②
Discussing the
industry development;
Providing the③
information announced and
brochure for projects of the
Company.
Visiting the Company ④
on-sale
January 7, 2014 Shenzhen
Telephone
communication
Institutional
investor
Orient Securities
January 8, 2014 Shenzhen
Telephone
communication
individual investor individual investor
January 8, 2014 Shenzhen
Telephone
communication
individual investor individual investor
January 8, 2014 Shanghai
Project
investigation
Institutional
investor
Everbright
Securities
January 9, 2014 Shenzhen Field investigation
Institutional
investor
Runhui Investment
January 14, 2014 Suzhou, Shanghai Field investigation
Institutional
investor
Runhui Investment
January 15, 2014 Nanjing, Suzhou Field investigation
Institutional
investor
William Blair、
CICC
January 16, 2014 Shenzhen
Telephone
communication
individual investor individual investor
January 17, 2014 Shenzhen Field investigation
Institutional
investor
Harvest Fund
January 24, 2014 Shenzhen Field investigation
Institutional
investor
China Asset
Management,
Haitong Securities
January 29, 2014 Shenzhen
Telephone
communication
Institutional
investor
Hillhouse Capital
Management
February 8, 2014 Shenzhen Field investigation Institutional Fullgoal Fund
7
CMPD the 1st Quarterly Report 2014 (Main Text t)
investor
February 10, 2014 Shenzhen
Telephone
communication
Institutional
investor
Ping An Securities,
GF Securities,
Schroders Fund
February 12, 2014 Shenzhen Field investigation
Institutional
investor
GF Securities,
China Asset
Management,Yinhu
a Fund, Penghua
Fund, etc
February 12, 2014 Shenzhen
Telephone
communication
individual investor individual investor
February 12, 2014 Shenzhen
Telephone
communication
Institutional
investor
CICC
February 12, 2014 Shenzhen
Telephone
communication
individual investor individual investor
February 14, 2014 Shenzhen
Telephone
communication
individual investor individual investor
February 17, 2014 Shenzhen
Telephone
communication
Institutional
investor
Huatai Securities
February 20, 2014 Shenzhen
Telephone
communication
individual investor individual investor
February 27, 2014 Shenzhen
Telephone
communication
individual investor individual investor
March 5, 2014 Shenzhen
Telephone
communication
individual investor individual investor
March 13, 2014 Shenzhen
Telephone
communication
individual investor individual investor
March 17, 2014 Shenzhen Field investigation
Institutional
investor
40 institution s
such as Guotai
Junan Securities,
CITIC Securities,
China Jianyin
Investment
Securities, Fullgoal
Fund,
Citic-prudential
Fund、Penghua
Fun, etc.
March 24, 2014 Hong Kong Strategic seminar
Institutional
investor
Baring Asset
Management
Limited, Norges
Bank, Capital
Research Global
Investors,
Manulife, Morgan
Stanley Investment
8
CMPD the 1st Quarterly Report 2014 (Main Text t)
Management
Company, Three
Corner
March 31, 2014 Shenzhen
Telephone
communication
Institutional
investor
GF Securities
March 31, 2014 Shenzhen
Telephone
communication
Institutional
investor
China Securities
March 31, 2014 Shenzhen
Telephone
communication
Institutional
investor
Runhui Investment
9
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