China Merchants Port Group Co., Ltd. The Report for the First Quarter of 2019 CHINA MERCHANTS PORT GROUP CO., LTD.
THE REPORT FOR THE FIRST QUARTER OF 2019 Date of Disclosure: 30 April 2019
China Merchants Port Group Co., Ltd. The Report for the First Quarter of 2019 Part I Important Notes
The Board of Directors (or the “Board”), the Supervisory Committee as well as the directors, supervisors and senior management of China Merchants Port Group Co., Ltd. (hereinafter referred to as the “Company”) hereby guarantee the factuality, accuracy and completeness of the contents of this Report and its summary, and shall be jointly and severally liable for any misrepresentations, misleading statements or material omissions therein.
All theCompany’s directors have attended the Board meeting for the review of this Report and its summary.
Bai Jingtao, theCompany’s legal representative, Wen Ling, theCompany’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.
This Report and its summary have been prepared in both Chinese and English. Should there be any discrepancies or misunderstandings between the two versions, the Chinese versions shall prevail.
China Merchants Port Group Co., Ltd. The Report for the First Quarter of 2019 Definitions
|||
|-|-|
|Term|Definition|
|The “Company”, “CMPort” or “we”|China Merchants Port Group Co., Ltd.|
|Sinotrans Guangdong|Sinotrans Guangdong Co., Ltd.|
|Zhanjiang Port|Zhanjiang Port (Group) Co., Ltd.|
|Zhanjiang Infrastructure Investment|Zhanjiang Infrastructure Construction Investment Group Co., Ltd.|
|CMG|China Merchants Group Co., Limited|
|CWH (H.K.)|Chiwan Wharf Holdings (Hong Kong) Limited|
|CMID|China Merchants Investment Development Company Limited|
|SZPL|Shenzhen Urban Planning and Land Resources Committee|
||The Authority of Qianhai Shenzhen-Hongkong Modern Service|
|SZQH||
||Industry Cooperation Zone of Shenzhen|
|Qianhai Investment Holdings|Shenzhen Qianhai Development Investment Holdings Co., Ltd.|
|CM Qianhai Industrial|Shenzhen China Merchants Qianhai Industrial Development Co., Ltd.|
|CM Chidi|Shenzhen China Merchants Qianhai Chidi Industrial Co., Ltd.|
|CMPort Holdings|China Merchants Port Holdings Company Limited (00144.HK)|
||Ansujie Terminal Services (Shenzhen) Co., Ltd., a wholly-owned|
|Ansujie||
||subsidiary of CMPort Holdings|
||Antongjie Terminal Services (Shenzhen) Co., Ltd., a wholly-owned|
|Antongjie||
||subsidiary of CMPort Holdings|
|Qianhai Hongyu|Shenzhen Qianhai Hongyu Industrial Investment Co., Ltd.|
|Shekou Asset Management|Shenzhen China Merchants Shekou Asset Management Co., Ltd.|
|CMI|China Merchants Investment Limited|
|Lac Assal|Lac Assal Investment Holding Company Limited|
|Cheer Signal|Cheer Signal Investment Limited|
|Khor Ambado Fzco|Khor Ambado Free Trade Zone Co., Ltd.|
|CMHD|China Merchants Holdings (Djibouti) Fze|
|The cninfo website|www.cninfo.com.cn|
||Expressed in the Chinese currency of Renminbi|
|RMB||
||Expressed in tens of thousands of Renminbi|
|RMB’0,000||
||Expressed in hundreds of millions of Renminbi|
|RMB’00,000,000||
||(unless otherwise specified)|

China Merchants Port Group Co., Ltd. The Report for the First Quarter of 2019 Part II Key Corporate Information
I Key Accounting Data and Financial Information
Indicate by tick mark whether there is any retrospectively restated datum in the table below.
√ Yes□ No
Reasons for the retrospective adjustments or restatements: 1. Changes to accounting policies. For details, please refer to “XII YoY Changes to Accounting Policies, Estimates and Methods” under “Part III Significant Events” in this report; 2. A business combination under common control. The Company completed the issuance of shares to the trading counterpart CMID on 25 December 2018 and took control of CMPort Holdings in form and in nature. In accordance with the Accounting Standards for Business Enterprises No. 33-Consolidated Financial Statements, the Company starts to include CMPort Holdings into the consolidated financial statements since December 2018. Therefore, the Company adjusted the comparative financial data in the table below as required by the rules governing business combinations under common control.
||||||||||
|-|-|-|-|-|-|-|-|-|
|||Q1 2019||Q1 2018|||Change (%)||
|||||Original||Restated||Restated|
|Operating revenue (RMB)||2,702,894,522.99||615,757,667.14|2,172,750,441.44||24.40%||
||Net profit attributable to the listed|814,944,249.12||146,662,116.72|381,903,088.64||113.39%||
||company’s shareholders (RMB)||||||||
||Net profit attributable to the listed|262,409,245.18||147,400,980.09|129,600,674.09||102.48%||
||company’s shareholders before||||||||
||exceptional items (RMB)||||||||
||Net cash generated from/used in|1,148,963,121.64||105,464,496.51|488,161,711.35||135.37%||
||operating activities (RMB)||||||||
|Basic earnings per share (RMB/share)||0.454||0.227|0.213||113.15%||
|Diluted earnings per share (RMB/share)||0.454||0.227|0.213||113.15%||
||Weighted average return on equity (%)||2.62%|2.91%||1.33%||1.29%|
|||31 March 2019||31 December 2018|||Change (%)||
|||||Original|Restated||Restated||
||Total assets (RMB)||145,187,177,118.55|8,147,257,790.54|128,018,084,415.68|||13.41%|
||Equity attributable to the listed|31,440,401,822.20||4,313,532,059.53|30,760,475,412.93||2.21%||
||company’s shareholders (RMB)||||||||

Exceptional gains and losses:
√ Applicable□ Not applicable
Unit: RMB
||||
|-|-|-|
|Item|Q1 2019|Note|
|Gain or loss on disposal of non-current assets (inclusive ofimpairment allowance write-offs)|779,531.18||
|Government subsidies charged to current profit or loss (exclusiveof government subsidies given in the Company’s ordinary courseof business at fixed quotas or amounts as per the government’suniform standards)|21,086,769.01||

China Merchants Port Group Co., Ltd. The Report for the First Quarter of 2019
|||||||
|-|-|-|-|-|-|
||Capital occupation charges on non-financial enterprises that are|12,811,302.12||||
||recorded into current profit or loss|||||
|Gains due to that the investment costs for the Company to obtainsubsidiaries, associates and joint ventures are lower than theenjoyable fair value of the identifiable net assets of the investeeswhen making the investments||723,737,741.50|||The Company took control of|
||||||Zhanjiang Port in the current period,|
||||||and return on investment was|
||||||recognized and measured on the|
||||||long-term equity investment in|
||||||Zhanjiang Port formerly at fair value|
||Gain or loss on fair-value changes in trading financial assets and|803,969,789.43||Gain or loss on fair-value changes infinancial assets and liabilities at fairvalue through profit or loss||
||liabilities, as well as derivative financial assets and liabilities &|||||
||income from disposal of trading financial assets and liabilities,|||||
||derivative financial assets and liabilities, as well as investments in|||||
||other debt obligations (exclusive of effective portion of hedges|||||
||that arise in the Company’s ordinary course of business)|||||
||Non-operating income and expense other than the above||2,586,527.25|||
|Less: Income tax effects||169,501,960.70||||
|Minority interests effects (after tax)||842,934,695.85||||
||Total||552,535,003.94||--|

Explanation of why the Company reclassifies as recurrent an exceptional gain/loss item defined or listed in the Explanatory Announcement No. 1 on Information Disclosure for Companies Offering Their Securities to thePublic—Exceptional Gain/Loss Items:
□ Applicable√ Not applicable
II Total Number of Shareholders and Holdings of Top 10 Shareholders at 31 March 2019 1. Numbers of Ordinary Shareholders and Preferred Shareholders with Resumed Voting Rights as well as Holdings of Top 10 Shareholders
Unit: share
||||||||
|-|-|-|-|-|-|-|
|||||Number of preferred|||
|Number of ordinary shareholders|34,074 (including 23,247 A-shareholders and|||shareholders with resumed|||
|||||||0|
|at the period-end|10,827 B-shareholders)|||voting rights at the period-end|||
|||||(if any)|||
|Top 10 shareholders|||||||
|||||||Shares in|
|||Nature of|Shareholding||Restricted||
|Name of shareholder||||Total shares held||pledge or|
|||shareholder|percentage||shares held||
|||||||frozen|
|China Merchants Investment DevelopmentCompany Limited||Foreign legalperson|64.05%|1,148,648,648|1,148,648,648||
|||||||0|
|China Merchants Gangtong Development(Shenzhen) Co., Ltd.||Domesticlegal person|20.68%|370,878,000|0||
|||||||0|
|Broadford Global Limited||Foreign legalperson|3.08%|55,314,208|0||
|||||||0|
|CMBLSA RE FTIF TEMPLETON ASIAN GRWFD GTI 5496||Foreign legalperson|2.16%|38,708,339|0||
|||||||Unknown|
|National Social Security Fund 101 Portfolio||Fund, wealthmanagementinstrument,etc.|0.18%|3,304,101|0||
|||||||Unknown|
|NORGES BANK||Foreign legalperson|0.16%|2,802,863|0||
|||||||Unknown|

China Merchants Port Group Co., Ltd. The Report for the First Quarter of 2019
||||||||
|-|-|-|-|-|-|-|
|China Merchants Securities (HK) Co., Ltd.|State-ownedlegal person|0.14%|2,590,937|0|||
|||||||Unknown|
|Mai Shuqing|Domesticnatural person|0.13%|2,350,247|0|||
|||||||Unknown|
|Vanguard Emerging Markets Stock Index Fund|Foreign legalperson|0.10%|1,763,746|0|||
|||||||Unknown|
|Canada Post Corporation Registered Pension Plan|Foreign legalperson|0.07%|1,292,406|0|||
|||||||Unknown|
|Top 10 unrestricted shareholders|||||||
||||Shares by type||||
|Name of shareholder|Unrestricted shares held||||||
||||Type||Shares||
|China Merchants Gangtong Development(Shenzhen) Co., Ltd.|370,878,000||RMB-denominated||||
||||||370,878,000||
||||ordinary stock||||
|Broadford Global Limited|55,314,208||Domestically listed||||
||||||55,314,208||
||||foreign stock||||
|CMBLSA RE FTIF TEMPLETON ASIAN GRWFD GTI 5496|38,708,339||Domestically listed||||
||||||38,708,339||
||||foreign stock||||
|National Social Security Fund 101 Portfolio|3,304,101||RMB-denominated||||
||||||3,304,101||
||||ordinary stock||||
|Norges Bank|2,802,863||Domestically listed||||
||||||2,802,863||
||||foreign stock||||
|China Merchants Securities (HK) Co., Ltd.|2,590,937||Domestically listed||||
||||||2,590,937||
||||foreign stock||||
|Mai Shuqing|2,350,247||RMB-denominated||||
||||||2,350,247||
||||ordinary stock||||
|Vanguard Emerging Markets Stock Index Fund|1,763,746||Domestically listed||||
||||||1,763,746||
||||foreign stock||||
|Canada Post Corporation Registered Pension Plan|1,292,406||Domestically listed||||
||||||1,292,406||
||||foreign stock||||
|Chen Zehong|1,240,000||RMB-denominated||||
||||||1,240,000||
||||ordinary stock||||
||China Merchants Gangtong Development (Shenzhen) Co., Ltd. is a||||||
||wholly-owned subsidiary of Broadford Global Limited, and Broadford Global||||||
|Related or acting-in-concert parties among the|||||||
||Limited is the controlling shareholder of China Merchants Investment||||||
|shareholders above|||||||
||Development Company Limited. The Company does not know whether the||||||
||other unrestricted shareholders are related parties or not.||||||
|Top 10 ordinary shareholders involved in securities|||||||
||N/A||||||
|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.
□ Yea√ No
2. Number of Preferred Shareholders and Shareholdings of Top 10 of Them
□ Applicable√ Not applicable
China Merchants Port Group Co., Ltd. The Report for the First Quarter of 2019 Part III Significant Events
I Changes in Major Accounting Data and Financial Indicators for the ReportingPeriod，As Well As Reasons for Such Changes
√ Applicable□ Not applicable
Unit: RMB
||||||
|-|-|-|-|-|
|Item|31 March 2019|1 January 2019|Change (%)|Explanation of Change|
|Notes receivable|182,523,102.29|11,608,669.43|1472.30%|The inclusion of Zhanjiang Port as a newentity into the consolidated financialstatements of the current period|
|Accounts receivable|1,640,858,015.96|1,109,230,503.08|47.93%|The inclusion of Zhanjiang Port as a newentity into the consolidated financialstatements of the current period|
|Prepayments|201,216,459.84|81,845,182.30|145.85%|Increase in the prepayments by subsidiariesfor machinery equipment, and the effect of theaccounting rules governing leases|
|Inventories|161,659,512.30|108,567,270.02|48.90%|The inclusion of Zhanjiang Port as a newentity into the consolidated financialstatements of the current period|
|Other non-currentfinancial assets|2,939,477,551.93|2,087,872,081.94|40.79%|Changes in the fair value of investments inQingdao Port and Ningbo Zhoushan Port|
|Right-of-use assets|6,505,658,114.64|6,549,564,031.55|-0.67%|Right-of-use assets recognized as per the newaccounting standards governing leases|
|Fixed assets|26,540,880,013.69|17,477,797,429.30|51.85%|The inclusion of Zhanjiang Port as a newentity into the consolidated financialstatements of the current period, normaldepreciation allowances, exchange ratefluctuations and the effect of the newaccounting standards governing leases|
|Deferred income taxassets|120,520,020.83|66,708,157.19|80.67%|The inclusion of Zhanjiang Port as a newentity into the consolidated financialstatements of the current period|
|Other non-current assets|2,119,736,766.29|395,191,485.98|436.38%|The inclusion of Zhanjiang Port as a newentity into the consolidated financialstatements of the current period|
|Short-term borrowings|7,669,361,618.42|3,425,291,312.62|123.90%|The inclusion of Zhanjiang Port as a newentity into the consolidated financialstatements of the current period, and increasein short-term bank loans for investmentpurposes|
|Long-term payables|2,027,482,133.04|1,252,860,200.23|61.83%|The inclusion of Zhanjiang Port as a newentity into the consolidated financialstatements of the current period|
|Lease liabilities|989,868,412.75|1,020,239,824.73|-2.98%|Lease liabilities recognized according to thenew accounting standards governing leases|
|Item|Q1 2019|Q1 2018|Change (%)|Explanation of Change|
|Financial expense|431,930,403.64|275,761,221.02|56.63%|Increase in interest expense due to an increasein the average balance of interest-bearingliabilities|

China Merchants Port Group Co., Ltd. The Report for the First Quarter of 2019
||||||
|-|-|-|-|-|
|investment income|1,491,659,164.10|684,366,403.71|117.96%|The Company took control of Zhanjiang Portin the current period, and return on investmentwas recognized and measured on thelong-term equity investment in Zhanjiang Portformerly at fair value|
|Gain on changes in fairvalue|803,456,059.74|137,919,530.28|482.55%|Increase in the net gain on changes in the fairvalue of trading financial assets|
|Income tax expense|428,680,888.19|196,407,949.26|118.26%|Increase in deferred income tax liabilities dueto an increase in the gain on changes in thefair value of equity interests held|
|Item|Q1 2019|Q1 2018|Change (%)|Explanation of Change|
|Cash received from saleof commodities andrendering of services|2,647,510,819.37|1,819,094,588.96|45.54%|The inclusion of Zhanjiang Port as a newentity into the consolidated financialstatements of the current period, and theinclusion of TCP as a new entity in theconsolidation financial statements in February2018|
|Cash received from otheroperating activities|437,792,411.01|163,911,046.96|167.09%|A government subsidy for the western channelin the current year|
|Taxes paid|225,198,426.64|126,141,464.22|78.53%|The inclusion of Zhanjiang Port as a newentity into the consolidated financialstatements of the current period, and theinclusion of TCP as a new entity in theconsolidation financial statements in February2018|
|Net proceeds from thedisposal of subsidiariesand other business units|-|1,411,633,655.68|-100.00%|The security deposit received last year for thetransfer of equity interests in China MerchantsGangtong Development (Shenzhen) Co., Ltd.|
|Cash received from otherinvesting activities|1,315,937,327.03|-|-|The balance of monetary capital of ZhanjiangPort, which is included as a new entity into theconsolidated financial statements of thecurrent period|
|Cash paid for theacquisition of fixedassets, intangible assetsand other long-termassets|650,139,928.72|481,958,576.95|34.90%|The inclusion of Zhanjiang Port as a newentity into the consolidated financialstatements of the current period, and theinclusion of TCP as a new entity in theconsolidation financial statements in February2018|
|Cash paid for investingactivities|415,845,100.00|63,458,839.54|555.30%|The acquisition of a 3.4223% interest inZhanjiang Port in the current period|
|Net payments for theacquisition ofsubsidiaries and otherbusiness units|-|4,844,558,474.75|-100.00%|The acquisition of TCP last year|
|Cash paid for otherinvesting activities|255,659,104.33|25,463,391.23|904.03%|The purchase of structured deposits not repaidon demand in the current period|
|Cash received fromcapital contributions|460,518,459.96|15,950,000.00|2787.26%|Equity funds received by Zhanjiang Port fromits non-controlling shareholders in the currentperiod|
|Increase in cashborrowings obtained|5,720,896,211.18|9,562,436,640.00|-40.17%|Decrease in borrowings obtained in thecurrent period|
|Cash paid for interestexpenses and distributionod dividends or profit|575,131,285.06|231,250,932.71|148.70%|Increase in interest expense due to an increasein the average balance of interest-bearingliabilities|
|Cash paid in otherfinancing activities|114,109,500.00|31,028,691.80|267.75%|The inclusion of Zhanjiang Port as a newentity into the consolidated financialstatements of the current period|

China Merchants Port Group Co., Ltd. The Report for the First Quarter of 2019 II Progress, Influence and Solutions with regard to Significant Events
√ Applicable□ Not applicable
||||
|-|-|-|
|||Index to the related|
|Summary of the significant event|Disclosure date||
|||announcement|
|The acquisition of assets and related-party transactions|||
|On 2 January 2019, the Company and Sinotrans Guangdong signed the Share Transfer|||
|Agreement of Zhanjiang Port (Group) Co., Ltd. in Shenzhen. By the signing of the||Refer to|
|Agreement, the Company was granted 201,034,548 ordinary shares of Zhanjiang Port||http://www.cninfo.com|
|held by Sinotrans Guangdong, which accounted for 5% of the total shares issued by||.cn for details of|
|Zhanjiang Port on the date of signing the Agreement, with a consideration valued at||relevant|
|RMB375,334,390. On 2 January 2019, the Proposal on the Signing of Share Transfer|3 January 2019|announcements on|
|Agreement of Zhanjiang Port (Group) Co., Ltd. between the Company and Sinotrans|5 January 2019|resolutions|
|Guangdong was deliberated and approved by the 1st Extraordinary Meeting of the 9th||(announcement No.|
|Board of Directors of the Company in 2019.||2019-002 and|
|As of 4 January 2019, the share purchase has completed the registration changing||announcement No.|
|procedures and changing filing procedures for foreign-invested enterprises. And the 5%||2019-003)|
|of shares of Zhanjiang Port held by Sinotrans Guangdong has registered under the|||
|Company.|||
|Foreign investment of wholly-owned subsidiaries and related-party transactions|||
|On 8 January 2019, the wholly-owned subsidiary of the Company CWH (H.K.) signed|||
|the Agreement on Capital Increase of Zhanjiang Port (Group) Co., Ltd. with Zhanjiang|||
|Infrastructure Investment and Zhanjiang Port (hereinafter referred to as the “Capital|||
|Increase Agreement”). According to the provisions of the Capital Increase Agreement,|||
|Zhanjiang Port intends to issue 1,853,518,190 additional common shares at the price of|||
|RMB1.867 per share or equivalent foreign currency to increase its registered capital to||Refer to|
|RMB5,874,209,145. CWH (H.K.) proposed to subscribe for 1,606,855,919 common||http://www.cninfo.com|
|shares, accounting for 27.3544% of the shares issued by Zhanjiang Port on the date of||.cn for details of|
|issuance of the subscribed shares, with a total amount up to RMB3,000,000,000.77 or||relevant|
|equivalent foreign currency (hereinafter referred to as "the transaction"); Zhanjiang||announcements on|
||9 January 2019||
|Infrastructure Investment proposed to subscribe 246,662,271 common shares,||resolutions|
||25 January 2019||
|accounting for 4.1991% of the shares issued by Zhanjiang Port on the date of issuance||(announcement No.|
||12 February 2019||
|of the subscribed shares, with a total amount up to RMB460,518,459.96.||2019-005,|
|The Proposal on Capital Increase of Wholly-owned Subsidiary to Zhanjiang Port||announcement No.|
|(Group) Co., Ltd. was deliberated and approved by the 2nd Extraordinary Meeting of||2019-013 and|
|the 9th Board of Directors held by the Company on 8 January 2019 and the 1st||announcement No.|
|Extraordinary General Meeting of 2019 held on 24 January 2019 respectively.||2019-018)|
|On 2 February 2019, CWH (H.K.) received the Decision on the Non-implementation of|||
|Further Investigation on Anti-Monopoly Review on Enterprise Centralization (Decision|||
|No. [2019]56) issued by the State Administration of Market Regulation. The State|||
|Administration of Market Regulation, after investigation, decided not to carry out|||
|further investigation on this transaction, and CWH (H.K.) might implement|||
|concentration of undertakings from the date of issuance of the decision. As of 3|||

China Merchants Port Group Co., Ltd. The Report for the First Quarter of 2019
||||
|-|-|-|
|February 2019, the registration and filing procedures of the transaction for business|||
|change was finished, and the capital increase to Zhanjiang Port by the Company's|||
|wholly-owned subsidiary CWH (H.K.) was completed.|||
|Land integration and reorganization in Qianhai by wholly-owned subsidiary of|||
|majority-owned subsidiary and related-party transactions|||
|In order to implement the Comprehensive Planning for Qianhai Shenzhen Hongkong|||
|Modern Service Industry Cooperation Zone of Shenzhen and the Comprehensive|||
|Planning for Shekou District in Qianhai and the surrounding Nanshan District in China|||
|(Guangdong) Pilot Free Trade Zone, which are made by the State Council and Shenzhen|||
|Municipal Government, to promote the development of Qianhai-Shenzhen-Hong Kong|||
|Cooperation Zone and Qianhai Shekou Free Trade Zone, the Company signed the|||
|Agreement on Land Integration and Reorganization with SZPL, SZQH and CMG, and|||
|CMG, Qianhai Investment Holdings, and CM Qianhai Industrial and other relevant|||
|parties signed the Joint Venture Cooperation Agreement, to clarify the implementation|||
|plans for land integration and reorganization and the joint venture cooperation in|||
|Qianhai.|||
|To realize the implementation plans of land integration and reorganization and the joint|||
|venture cooperation in Qianhai, SZQH recovered all the land use rights under the|||
|original plan of 19 land-holding companies within the scope and in accordance with the|||
|||Refer to|
|Agreement on Land Integration and Reorganization, and evaluated the land|||
|||http://www.cninfo.com|
|compensation amount of about RMB43.21 billion by calculation (the base date of|||
|||.cn for details of|
|evaluation is 1 January 2015); and then SZQH replaced the land-use rights under the|||
|||relevant|
|new plan whose value equals the compensation value of the land mentioned above with|12 January 2019|announcements on|
|CM Chidi (with 14% of shares held by Ansujie and Antongjie) (the base date of|||
||26 February 2019|resolutions|
|evaluation is 1 January 2015, hereinafter referred to as the “land for replacement with|||
|||(announcement No.|
|China Merchants”); SZQH invested part of the land invested by Qianhai into Qianhai|||
|||2019-008 and|
|Investment Holdings to become one of its shareholders, and then the land use right were|||
|||announcement No.|
|invested into Qianhai Hongyu by Qianhai Investment Holdings, who became a|||
|||2019-020)|
|shareholder of Qianhai Hongyu; CM Qianhai Industrial and Qianhai Investment|||
|Holdings increased the capital of the joint venture company with the 100% equity of|||
|CM Chidi and Qianhai Hongyu respectively, and the party with insufficient equity made|||
|up for the cash consideration to ensure that CM Qianhai Industrial and Qianhai|||
|Investment Holdings holds 50% equity of the joint venture company respectively after|||
|the capital increase.|||
|In order to harmonize the economic interest relationships between CM Chidi and the 19|||
|land-holding companies due to the acquisition of land for investment replacement, CM|||
|Chidi signed the Agreement on Confirmation of Compensation for Creditor’s Rights|||
|with the 19 land-holding companies to determine the amount and proportion of land|||
|compensation for creditor’s rights of the 19 land-holding companies. Ansujie and|||
|Antongjie will receive about RMB5.693 billion from CM Chidi as compensation for the|||
|land use rights of about 471,800 square meters, accounting for 13.1758% of the total|||
|amount of land compensation for creditor’s rights. In order to keep the proportion of|||
|land compensation for creditor's rights in line with the proportion of 14% equity held|||
|indirectly by CMPort Holdings, Antongjie, Shekou Asset Management and CM Chidi|||

China Merchants Port Group Co., Ltd. The Report for the First Quarter of 2019
||||
|-|-|-|
|signed the Agreement on Transfer of Creditor’s Rights, to stipulate that Antongjie will|||
|purchase 0.8242% of land compensation for creditor’s rights from Shekou Asset|||
|Management, with an amount of creditor's rights up to about RMB356 million. In|||
|addition, 55% of the total area of T102-0166 and T102-0167 plots owned by Ansujie|||
|and Antongjie and the corresponding shorelines (about 5313,000 square meters of land|||
|area) are replaced to Phase II of Dachanwan Port Area according to the principle of|||
|equal area (including corresponding shorelines). Ansujie and Antongjie no longer enjoy|||
|the compensation of land value under the new and original planning conditions for the|||
|above-mentioned land area. The specific replacement scheme shall be determined by|||
|SZPL, CMG, Antongjie and Ansujie after further consultation with relevant|||
|departments.|||
|In order to pay off the above-mentioned land compensation debts, CM Qianhai|||
|Industrial signed the Agreement on Capital Increase to CM Qianhai Industrial with 19|||
|land-holding companies, to stipulate that the former 19 land-holding companies will|||
|increase their investment to CM Qianhai Industrial by about RMB43.210 billion in|||
|cash, of which about RMB6.049 billion would be raised by Ansujie and Antongjie. With|||
|these increased capital funds, CM Qianhai Industrial will increase its investment in cash|||
|to its wholly-owned subsidiary CM Chidi, who will pay off the land compensation debts|||
|to the 19 land-holding companies with such increased capital funds. In addition, in|||
|order to raise funds for cooperative cash consideration, the 19 land-holding companies|||
|will increase their investment to CM Qianhai Industrial by no more than RMB15 billion|||
|with the same proportion of cash, of which, the incremental funds of Ansujie and|||
|Antongjie will not exceed RMB2.1 billion. CM Qianhai Industrial will increase|||
|investment to its wholly-owned subsidiary CM Chidi with such increased capital funds|||
|to pay for the cash consideration for the joint venture (including but not limited to|||
|advance payment and sincerity deposit, etc.), or pay the joint venture cash consideration|||
|directly to the joint venture company (including but not limited to advance payment and|||
|sincerity deposit, etc.). The cash consideration for the joint venture shall be determined|||
|by the evaluation agency entrusted by CM Qianhai Industrial and Qianhai Investment|||
|Holdings, who will evaluate the 100% equity of CM Chidi and Qianhai Hongyu in|||
|accordance with the Joint Venture Cooperation Agreement. As the specific amount has|||
|not been determined yet, investors should notice to the investment risk.|||
|The Proposal on Land Integration and Reorganization in Qianhai by Wholly-owned|||
|Subsidiary of Majority-owned Subsidiary was deliberated and approved by the 3rd|||
|Extraordinary Meeting of the 9th Board of Directors held by the Company on 11 January|||
|2019 and the 2nd Extraordinary General Meeting of 2019 held on 25 February 2019|||
|respectively.|||
|Related-party transactions of Majority-owned subsidiaries||Refer to|
|On 22 January 2019, the Company's majority-owned subsidiaries, CMPort Holdings,||http://www.cninfo.com|
|CMI, Cheer Signal Investment Limited and Lac Assal signed the Supplementary||.cn for details of|
|Agreement II on Shareholder Agreement of Lac Assal (hereinafter referred to as the|23 January 2019|relevant announcement|
|“Capital Increase Agreement”) to stipulate that the ports of CMPort Holdings, CMI and||on resolutions|
|Cheer Signal Investment Limited shall increase the capital of Lac Assal by means of||(announcement No.|
|cash contribution according to the proportion of their shareholder’s equity. The total||2019-012)|

China Merchants Port Group Co., Ltd. The Report for the First Quarter of 2019
||||
|-|-|-|
|amount of capital to increase is USD30,000,000, including USD12,000,000 to be|||
|increased by CMPort Holdings, USD12,000,000 to be increased by CMI and|||
|USD6,000,000 to be increased by Cheer Signal Investment Limited (hereinafter referred|||
|to as the “capital increase”). After the capital increase, the registered capital of Lac|||
|Assal will increase to USD60,060,000. The proportion of shares of CMPort Holdings,|||
|CMI and Cheer Signal Investment Limited will remained unchanged as 40%, 40% and|||
|20% respectively.|||
|The Proposal on Joint Capital Increase of Majority-owned Subsidiaries and Related|||
|Parties to Lake Asaler was deliberated and approved by the 4th Extraordinary Meeting|||
|of the 9th Board of Directors held by the Company on 22 January 2019.|||
|Related-party guarantee provided by majority-owned subsidiary for its shareholding|||
|subsidiary|||
|Khor Ambado Fzco, a shareholding subsidiary of the Company’s majority-owned|||
|subsidiary CMPort Holdings, is planning to apply for a loan of USD240 million from||Refer to|
|the National Development Bank for the construction project in Djibouti Free Trade||http://www.cninfo.com|
|Zone with a term of 13 years. CMPort Holdings intends to provide joint and several||.cn for details of|
|liability guarantee for the loan according to the proportion of its shareholding in KHOR||relevant|
|AMBADO FZCO. The guaranteed amount includes the principal of the loan (USD240|30 March 2019|announcements on|
|million*12%=USD228.8 million) and the corresponding interest, expenses (if any),|16 April 2019|resolutions|
|penalty (if any) and so on. The term of guarantee shall be from the effective date of the||(announcement No.|
|guaranty contract to the expiration date of the performance period of the debt under the||2019-028 and|
|main contract.||announcement No.|
|The Proposal on Related-party Guarantee Provided by Majority-owned Subsidiary for||2019-038)|
|Its Shareholding Subsidiary was deliberated and approved by the 5th Meeting of the 9th|||
|Board of Directors held by the Company on 28 March 2019 and the 3rd Extraordinary|||
|General Meeting of 2019 held on 15 April 2019 respectively.|||
|The Signature of land lease agreement by wholly-owned subsidiary of majority-owned|||
|subsidiary and related-party transactions|||
|CMHD, a wholly-owned subsidiary of the Company’s majority-owned subsidiary|||
|CMPort Holdings, and Khor Ambado Fzco, a shareholding subsidiary of CMPort|||
|||Refer to|
|Holdings, signed the Land Lease Agreement (hereinafter referred to as the “Land|||
|||http://www.cninfo.com|
|Leasing Agreement”) on 28 March 2019 to stipulate that CMHD shall lease the land in|||
|||.cn for details of|
|B06/B07 plot owned by Khor Ambado Fzco in Djibouti Free Trade Zone, which covers|||
||30 March 2019|relevant announcement|
|an area of 137,801.63 square meters, with a total rent of USD27,756,004.31 for a lease|||
|||on resolutions|
|period from the date of entry into force of the Land Lease Agreement to 14 August|||
|||(announcement No.|
|2116.|||
|||2019-029)|
|The Proposal on the Signature of Land Lease Agreement by Wholly-owned Subsidiary|||
|of Majority-owned Subsidiary and Related-party Transactions was deliberated and|||
|approved by the 5th Meeting of the 9th Board of Directors held by the Company on 28|||
|March 2019.|||

Progress of any share repurchase:
□ Applicable√ Not applicable
Progress of any reduction of the repurchased shares through centralized bidding:
China Merchants Port Group Co., Ltd. The Report for the First Quarter of 2019□ Applicable√ Not applicable
III Commitments that theCompany’s Actual Controller, Shareholders, Related Parties, Acquirers, the Company Itself or Other Parties, Failed to Fulfill on Time during the Reporting Period
□ Applicable√ Not applicable
IV Operating Performance Forecast for January-June 2019
Warning of a forecast loss on or a forecast significant year-on-year change in the net profit of January-June 2019, as well as explanation of why:
□ Applicable√ Not applicable
V Securities Investments
√ Applicable□ Not applicable
Unit: RMB
|||||||||||||||||||||||||||||||||||
|-|-|-|-|-|-|-|-|-|-|-|-|-|-|-|-|-|-|-|-|-|-|-|-|-|-|-|-|-|-|-|-|-|-|
|Varietyofsecurities||Codeofsecurities|Name ofsecurities|Initialinvestment cost|||Accountingmeasurementmodel||Beginningcarrying value|||Gain/loss onfair valuechanges in theReportingPeriod|||Cumulative fairvaluechangesrecordedintoequity|||Purchasedin theReportingPeriod|||Sold in|||Gain/loss||Ending carryingvalue|||Accountingitem|||Capitalresources||
||||||||||||||||||||||theRep|||inthe||||||||||
||||||||||||||||||||||orting|||Reporting||||||||||
||||||||||||||||||||||Period|||Period||||||||||
|Stock||601018|NingboPort|592,183,095.14|||Fairvaluemethod||1,361,414,474.58|||441,455,106.93|||0|||0||0|||0|||1,773,099,689.84||||Tradin|g|Self-owned||
|||||||||||||||||||||||||||||||financi||||
|||||||||||||||||||||||||||||||al||||
|||||||||||||||||||||||||||||||assets||||
|Stock||06198|QingdaoPort|124,405,138.80|||Fairvaluemethod||190,401,046.01|||8,511,687.22|||0|||0||0|||0|||194,891,593.44||||Tradin|g|Self-owned||
|||||||||||||||||||||||||||||||financi||||
|||||||||||||||||||||||||||||||al||||
|||||||||||||||||||||||||||||||assets||||
|Stock||601298|QingdaoPort|331,404,250.30|||Fairvaluemethod||413,280,000.00|||437,920,000.00|||0|||0||0|||0|||851,200,000.00||||Tradin|g|Self-owned||
|||||||||||||||||||||||||||||||financi||||
|||||||||||||||||||||||||||||||al||||
|||||||||||||||||||||||||||||||assets||||
|Stock||600377|JiangsuExpressway|1,120,000.00|||Fairvaluemethod||9,800,000.00|||0|||75,000.00|||0||0|||0|||9,900,000.00||||Other||Self-owned||
|||||||||||||||||||||||||||||||invest||||
|||||||||||||||||||||||||||||||ments||||
|||||||||||||||||||||||||||||||in||||
|||||||||||||||||||||||||||||||equity||||
|||||||||||||||||||||||||||||||instrum||||
|||||||||||||||||||||||||||||||ents||||
|Stock||400032|Petrochemical A1|3,500,000.00|||Fairvaluemethod||382,200.00|||0|||0|||0||0|||0|||382,200.00||||Other||Self-owned||
|||||||||||||||||||||||||||||||invest||||
|||||||||||||||||||||||||||||||ments||||
|||||||||||||||||||||||||||||||in||||
|||||||||||||||||||||||||||||||equity||||
|||||||||||||||||||||||||||||||instrum||||
|||||||||||||||||||||||||||||||ents||||
|Stock||400009|Guang Jian1|27,500.00|||Fairvaluemethod||17,000.00|||0|||0|||0||0|||0|||17,000.00||||Other||Self-owned||
|||||||||||||||||||||||||||||||invest||||
|||||||||||||||||||||||||||||||ments||||
|||||||||||||||||||||||||||||||in||||
|||||||||||||||||||||||||||||||equity||||
|||||||||||||||||||||||||||||||instrum||||
|||||||||||||||||||||||||||||||ents||||
||Total||||1,052,639,984.2|4||--||1,975,294,720.5|9||887,886,794.1|5||75,000.0|0||0|||0|||0||2,829,490,483.2|8||--|||--|

China Merchants Port Group Co., Ltd. The Report for the First Quarter of 2019 VI Investments in Derivative Financial Instruments
√ Applicable□ Not applicable
Unit:RMB’0,000
|||||||||||||||
|-|-|-|-|-|-|-|-|-|-|-|-|-|-|
|||||||||||||Proportion||
|||||||||||||of ending||
||||||||||||||Actual|
|||||||||Purchase||Impairm|Ending|investment||
||Relationsh|Related||Initial|||Beginning||Sold in the||||gain/loss|
||||Type of||Starting|Ending||d in the||ent|investme|amount in||
|Operator|ip with the|transact||investment|||investmen||Reporting||||in the|
||||derivative||date|date||Reporting||provision|nt|the||
||Company|ion||amount|||t amount||Period||||Reporting|
|||||||||Period||(if any)|amount|Company’s||
||||||||||||||Period|
|||||||||||||ending net||
|||||||||||||assets||
||||Forward|||||||||||
|||||||28||||||||
|Financing|Non-relate||foreign||9 March|||||||||
|||No||4,961.18||February|4,961.18|0|4,961.18|0|0|0.00%|-332.39|
|institution|d party||exchange||2018|||||||||
|||||||2019||||||||
||||purchasing|||||||||||
||||||29|||||||||
|Financing|Non-relate||Currency|||26 March||||||||
|||No||20,177.33|March||20,177.33|0|20,177.33|0|0|0.00%|-1,496.24|
|institution|d party||swap|||2019||||||||
||||||2018|||||||||
||||Forward|||||||||||
|Financing|Non-relate||foreign||4 April|26 March||||||||
|||No||173.63|||173.63|0|173.63|0|0|0.00%||
|institution|d party||exchange||2018|2019||||||||
||||purchasing|||||||||||
||||Forward|||||||||||
|Financing|Non-relate||foreign||15 June|21 March||||||||
|||No||42.88|||42.88|0|42.88|0|0|0.00%||
|institution|d party||exchange||2018|2019||||||||
||||purchasing|||||||||||
||||Forward|||||||||||
|Financing|Non-relate||foreign||15 June|8 May||||||||
|||No||4,885.98|||4,885.98|0||0|4,885.98|0.06%|-102.24|
|institution|d party||exchange||2018|2019||||||||
||||purchasing|||||||||||
|Total||||30,241.00|--|--|30,241.00|0|25,355.02||4,885.98|0.06%|-1,930.87|
|Source of money used for investment||||All from the Company’s own funds||||||||||
|Legal matters involved (if applicable)||||N/A||||||||||
|Analysis of risks and control measures||||In order to reduce the risks resulted from changes in exchange rate of foreign currency loans, the Company||||||||||
|associated with derivative investments held||||locked the principal and interests exchange rate of US$46.65 million foreign currency loans. Within the time||||||||||
|in Reporting Period (including but not||||limit and scope of foreign currency loans, risks of changes in exchange rate can be reduced by locking the||||||||||
|limited to market risk, liquidity risk, credit||||forward exchange rate.||||||||||
|risk, operational risk, legal risk, etc.)||||||||||||||
|Changes in market prices or fair value of||||||||||||||
|derivative investments in Reporting Period||||||||||||||
|(fair value analysis should include||||Gain and loss on forward financial contracts was RMB-19.3087 million in the Reporting Period.||||||||||
|measurement method and related||||||||||||||
|assumptions and parameters)||||||||||||||
|Significant changes in accounting policies||||||||||||||
|and specific accounting principles adopted||||||||||||||
|||||N/A||||||||||
|for derivative investments in Reporting||||||||||||||
|Period compared to last reporting period||||||||||||||
|Opinion of independent directors on||||||||||||||
|||||N/A||||||||||
|derivative investments and risk control||||||||||||||

China Merchants Port Group Co., Ltd. The Report for the First Quarter of 2019 VII Communications with the Investment Community such as Researches, Inquiries and Interviews during the Reporting Period
√ Applicable□ Not applicable
|||||
|-|-|-|-|
|||Type of||
|Date|Way of communication||Index to main information communicated|
|||communication party||
||||Main inquiry: basic business condition, investments and|
||By phone and written inquiry|||
||||financial condition of the Company;|
|January-March 2019|(through the EasyIR platform of|Individual|Materials provided: brochure of the Company;|
||||Index: SZSE EasyIR|
||SZSE)|||
||||(http://irm.cninfo.com.cn/ssessgs/S001872/index.html)|

 VIII Irregularities in the Provision of Guarantees
□ Applicable√ Not applicable
IX Occupation of theCompany’s Capital by the Controlling Shareholder or Its Related Parties for Non-Operating Purposes
□ Applicable√ Not applicable
X Progress Made on Internal Control
In the first quarter of 2019, according to the results of the work flow combing of internal control for 2018, the sample test of drafts, internal control defect sheet and the rectification report on internal control, the Company produced the 2018 annual internal control self-evaluation report, which was disclosed after review and approval at the 5th Meeting of the 9th Board of Directors and the 5th Meeting of the 9th Supervisory Committee.
The Company engaged Deloitte Touche Tohmatsu Certified Public Accountants LLP to audit the effectiveness of its 2018 financial reporting internal control. A standardauditor’s report with unqualified opinion was issued by DDT and later disclosed by the Company.
Currently, the Company has conducted its internal control activities in 2019, including 1) renewed the list of the internal control task group members; 2) formulated the work plan and schedule for internal control in 2019; 3) determined the working range of the internal control (China Merchants Port Group Co., Ltd. and its 24 subordinate companies have been brought into the scope of evaluation of internal control system) and self-assessment procedures of internal control in 2019; 4) conducted self-assessment of internal control; 5) finished the updating of basic data of risk control.
The Company has completed the internal control work in 2018 according to the schedule in the internal control work plan for 2018, as well as the preparations for its internal control activities in 2019 according to the schedule in the internal control work plan for 2019, with no deviation or delay.
XI 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
Second Meeting of the 9th Board of Directors held by the Company on 23 August 2017, in which, the Company was agreed to signed
China Merchants Port Group Co., Ltd. The Report for the First Quarter of 2019 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. 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|Increase|Decrease|Ending balance|
|I. Deposits in China Merchants Group Finance Co., Ltd.|3,838.72|6,072.36|6,782.81|3,128.28|
|II. Loans provided by China Merchants Group Finance CoLtd.|77,500.00|31,500.00|5,500.00|103,500.00|

XII Explain Change of the Accounting Policy, Accounting Estimate and Measurement Methods as Compared with the Financial Reporting of Last Year
The Accounting Standards for Business Enterprises No. 21– Lease (hereinafter referred to as “New lease standard”) revised and issued by Ministry of Finance on 7 December 2018 required that enterprises listed both domestically and overseas and enterprises listed overseas who prepare the financial statements by International Financial Reporting Standards or Accounting Standards for Business Enterprises shall implement it form 1 January 2019, and other enterprises implementing the Accounting Standards for Business Enterprises shall implement it from 1 January 2021. According to the requirements of Ministry of Finance, enterprises whose subsidiaries are listed overseas and prepare the financial statements by International Financial Reporting Standards or Accounting Standards for Business Enterprises can implement the new lease standard in advance. The Company, in accordance with the requirements of Ministry of Finance, implemented the new lease standard from 1 January 2019. For details, see Announcement on Changes in Accounting Policies (Announcement No.: 2019-031) published by the Company on http://www.cninfo.com.cn dated 30 March 2019.
According to the regulations of the new standards, the Company did not adjust the information during comparative period, executed the accumulative influence number of the standard for the first time, and adjusted the beginning retained earnings and the amount of other related items in financial statements. The Group has disclosed the balance sheet with new standards being implemented for the first day of 1 January 2019 in financial statements of this Report.
China Merchants Port Group Co., Ltd. The Report for the First Quarter of 2019 Part IV Financial Statements
I Financial Statements
1. Consolidated Balance Sheet
Unit: RMB
||||
|-|-|-|
|Item|31 March 2019|31 December 2018|
|Current assets:|||
|Cash and bank balances|7,102,589,101.27|7,070,308,704.75|
|Trading financial assets|1,903,946.25|-|
|Notes and accounts receivable|1,823,381,118.25|1,120,839,172.51|
|Including: Notes receivable|182,523,102.29|11,608,669.43|
|Accounts receivable|1,640,858,015.96|1,109,230,503.08|
|Prepayments|201,216,459.84|124,404,862.87|
|Other receivables|964,603,462.54|799,559,226.45|
|Including: Interest receivable|48,103,769.74|33,041,147.73|
|Dividends receivable|256,425,082.10|259,804,145.16|
|Inventories|161,659,512.30|108,567,270.02|
|Assets classified as held for sale|115,356,162.94|115,356,162.94|
|Other current assets|1,259,804,522.04|1,195,421,189.12|
|Total current assets|11,630,514,285.43|10,534,456,588.66|
|Non-current assets:|||
|Long-term receivables|783,360,606.40|793,046,240.11|
|Long-term equity investments|48,700,421,740.20|50,176,577,263.40|
|Investments in other equity instruments|261,319,162.27|247,848,314.30|
|Other non-current financial assets|2,939,477,551.93|2,087,872,081.94|
|Investment property|5,907,911,884.65|5,890,146,989.51|
|Fixed assets|26,540,880,013.69|22,994,190,880.43|
|Construction in progress|6,844,559,662.45|5,499,426,090.06|
|Engineering material|13,911,742.66|-|
|Right-of-use assets|6,505,658,114.64|-|
|Intangible assets|23,888,348,682.74|20,761,018,044.54|
|R&D expense|14,968,306.82|-|
|Goodwill|8,681,769,583.92|8,335,895,842.35|
|Long-term prepaid expense|233,818,993.63|235,706,437.21|
|Deferred income tax assets|120,520,020.83|66,708,157.19|
|Other non-current assets|2,119,736,766.29|395,191,485.98|
|Total non-current assets|133,556,662,833.12|117,483,627,827.02|
|Total assets|145,187,177,118.55|128,018,084,415.68|

China Merchants Port Group Co., Ltd. The Report for the First Quarter of 2019
||||||
|-|-|-|-|-|
|Item||31 March 2019||31 December 2018|
|Current liabilities:|||||
|Short-term borrowings||7,669,361,618.42||3,425,291,312.62|
|Notes and accounts payable||639,804,961.10||429,120,690.97|
|Receipts in advance||47,368,404.19||29,170,709.86|
|Accrued payroll||370,791,975.36||433,489,555.40|
|Taxes payable||374,233,431.53||345,183,422.42|
|Other payables||2,705,463,803.57||2,245,670,528.89|
|Including: Interest payable||498,029,824.08||555,545,627.60|
|Dividends payable||66,052,207.09||66,052,207.09|
|Contractual liabilities||71,046,766.16||49,993,895.50|
|non-current liabilities due within one year||3,213,270,461.80||2,349,849,449.96|
|Other current liabilities||686,341,705.75||602,659,721.80|
|Total current liabilities||15,777,683,127.88||9,910,429,287.42|
|Non-current liabilities:|||||
|Long-term borrowings||8,422,809,110.33||6,971,479,842.18|
|Bonds payable||21,643,668,439.19||22,097,467,096.40|
|Lease liabilities||989,868,412.75||-|
|Long-term payables||2,027,482,133.04||1,294,190,118.18|
|Long-term payroll payable||374,926,420.15||375,325,127.65|
|Provisions||34,769,055.75||34,951,392.27|
|Deferred income||1,034,504,773.94||228,658,214.64|
|Deferred income tax liabilities||3,780,247,583.66||2,911,074,941.27|
|Other non-current liabilities||3,815,123,370.42||3,777,582,522.86|
|Total non-current liabilities||42,123,399,299.23||37,690,729,255.45|
|Total liabilities||57,901,082,427.11||47,601,158,542.87|
|Shareholders’equity:|||||
|Share capital||1,793,412,378.00||1,793,412,378.00|
|Capital reserves||19,471,423,274.62||19,426,912,957.05|
|Other comprehensive income||-58,102,973.53||88,925,978.57|
|Special reserves||13,590,332.54||8,231,080.43|
|Surplus reserves||527,175,908.67||527,175,908.67|
|Retained earnings||9,692,902,901.90||8,915,817,110.21|
|Total equity attributable to parent company|31,440,401,822.20||30,760,475,412.93||
|shareholders’|||||
|Minority interests||55,845,692,869.24||49,656,450,459.88|
|Total shareholders’ equity||87,286,094,691.44||80,416,925,872.81|
|Total liabilities and shareholders’ equity||145,187,177,118.55||128,018,084,415.68|

 The financial statements from Page 19 to Page 30 have been signed by:
Legal representative: Bai Jingtao
Chief Financial Officer: Wen Ling
Person-in-charge of the accounting organ: Sun Ligan
China Merchants Port Group Co., Ltd. The Report for the First Quarter of 2019 2. Parent Company Balance Sheet
Unit: RMB
||||||
|-|-|-|-|-|
|Item||31 March 2019||31 December 2018|
|Current assets:|||||
|Cash and bank balances|142,886,668.11||389,841,854.93||
|Notes and accounts receivable|11,179,233.40||23,444,175.65||
|Accounts receivable|11,179,233.40||23,444,175.65||
|Other receivables|609,568,742.31||651,050,233.08||
|Including: Interest receivable|4,438.52||34,899.02||
|Dividends receivable|329,153,465.74||329,153,465.70||
|Inventories|137,993.08||165,553.46||
|Other current assets|-178,648.79||1,563,111.61||
|Total current assets|763,593,988.11||1,066,064,928.73||
|Non-current assets:|||||
|Long-term receivables|11,004,284.75||11,004,284.75||
|Long-term equity investments|28,513,487,952.33||28,544,261,576.96||
|Investments in other equity instruments|527,181,090.00||151,746,700.00||
|Investment property|13,805,209.81||12,685,959.06||
|Fixed assets|185,001,423.89||190,804,655.63||
|Construction in progress|2,986,692.93||2,500,843.87||
|Right-of-use assets|10,445,577.65||-||
|Intangible assets|57,082,209.88||57,755,603.44||
|Long-term prepaid expense|3,746,365.90||3,785,801.32||
|Total non-current assets|29,324,740,807.14||28,974,545,425.03||
|Total assets|30,088,334,795.25||30,040,610,353.76||
|Current liabilities:|||||
|Short-term borrowings|604,404,000.00||377,716,000.00||
|Notes and accounts payable|10,059,547.81||13,125,624.29||
|Contractual liabilities|59,603.00||92,003.00||
|Accrued payroll|12,524,410.54||26,605,190.52||
|Taxes payable|1,797,946.21||18,826,587.50||
|Other payables|765,968,033.25||717,536,924.18||
|Including: Interest payable|14,501,258.56||15,011,119.82||
|Dividends payable|37,608,540.65||37,608,540.65||
|Current portion of non-current liabilities|305,423,684.85||299,531,506.81||
|Other current liabilities|-||200,000,000.00||
|Total current liabilities|1,700,237,225.66||1,653,433,836.30||

China Merchants Port Group Co., Ltd. The Report for the First Quarter of 2019
||||||
|-|-|-|-|-|
|Item||31 March 2019||31 December 2018|
|Non-current liabilities:|||||
|Lease liabilities|5,167,625.19||-||
|Long-term payables|150,974,000.00||151,710,000.00||
|Deferred income tax liabilities|34,204,375.00||34,179,375.00||
|Total non-current liabilities|190,346,000.19||185,889,375.00||
|Total liabilities|1,890,583,225.85||1,839,323,211.30||
|Shareholders’ equity:|||||
|Share capital|1,793,412,378.00||1,793,412,378.00||
|Capital reserves|25,517,679,153.52||25,517,647,180.04||
|Other comprehensive income|102,713,125.00||102,638,125.00||
|Special reserves|219,439.38||470,465.59||
|Surplus reserves|527,175,908.67||527,175,908.67||
|Retained earnings|256,551,564.83||259,943,085.16||
|Total shareholders’ equity|28,197,751,569.40||28,201,287,142.46||
|Total liabilities and shareholders’ equity|30,088,334,795.25||30,040,610,353.76||

China Merchants Port Group Co., Ltd. The Report for the First Quarter of 2019 3. Consolidated Income Statement
Unit: RMB
||||||
|-|-|-|-|-|
|Item||Q1 2019||Q1 2018|
|1. Revenue||2,702,894,522.99||2,172,750,441.44|
|Including: Operating revenue||2,702,894,522.99||2,172,750,441.44|
|2. Costs and expenses||2,457,671,031.93||1,883,168,620.16|
|Including: Cost of sales||1,660,826,958.58||1,305,238,877.12|
|Taxes and surcharges||45,674,668.50||45,863,744.88|
|Administrative expense||287,367,055.02||231,226,325.01|
|R&D expense||30,052,292.96||24,392,333.00|
|Finance costs||431,930,403.64||275,761,221.02|
|Including: Interest expense||512,196,697.85||370,157,265.19|
|Interest income||59,236,488.39||56,758,131.14|
|Asset impairment loss||-25,031.28||-|
|Credit impairment loss||1,844,684.51||686,119.13|
|Add: Other income||20,798,769.01||13,529,113.16|
|Return on investment (“-” for loss)||1,491,659,164.10||684,366,403.71|
|Including: Share of profit or loss of joint ventures and associates||759,492,112.86||684,366,403.71|
|Gain on changes in fair value (“-” for loss)||803,456,059.74||137,919,530.28|
|Asset disposal income (“-” for loss)||779,531.17||-3,211,017.91|
|3. Operating profit (“-” for loss)||2,561,917,015.08||1,122,185,850.52|
|Add: Non-operating income||5,833,763.89||7,741,312.94|
|Less: Non-operating expense||2,959,236.62||1,607,303.64|
|4. Total profit (“-” for loss)||2,564,791,542.35||1,128,319,859.82|
|Less: Income tax expense||428,680,888.19||196,407,949.26|
|5. Net profit (“-” for net loss)||2,136,110,654.16||931,911,910.56|
|5.1 Categorization by continuity of operation|||||
|5.1.1 Net profit of continuing operation (“-” for net loss)||2,136,110,654.16||931,911,910.56|
|5.1.2 Net profit of discontinued operation (“-” for net loss)||-||-|
|5.2 Categorization by attribution of ownership|||||
|5.2.1 Net profit attributable to parent company owners||814,944,249.12||381,903,088.64|
|5.2.2 Net profit attributable to minority interests||1,321,166,405.04||550,008,821.92|
|6. Other comprehensive income, net of tax||-185,440,397.65||-439,706,681.57|
|Attributable to parent company owners||147,028,952.60||-135,541,068.56|
|6.1 Items that will not be reclassified to profit or loss||-74,999.61||-232,500.00|
|6.1.1 Other comprehensive income that will not be reclassified to|-||-||
|profit or loss under the equity method|||||
|6.1.2 Changes in the fair value of investments in other equity|-74,999.61||-232,500.00||
|instruments|||||
|6.2 Items that will be reclassified to profit or loss||147,103,952.21||-135,308,568.56|
|6.2.1 Other comprehensive income that will be reclassified to profit|5,312,466.40||1,593,391.45||
|or loss under the equity method|||||
|6.2.2 Differences arising from the translation of foreign|141,791,485.81||-136,901,960.01||
|currency-denominated financial statements|||||
|Attributable to minority interests||-332,469,350.25||-304,165,613.01|
|7. Total comprehensive income||1,950,670,256.51||492,205,228.99|
|Attributable to parent company owners||961,973,201.72||246,362,020.08|
|Attributable to minority interests||988,697,054.79||245,843,208.91|
|8. Earnings per share|||||
|8.1 Basic earnings per share||0.454||0.213|
|8.2 Diluted earnings per share||0.454||0.213|

China Merchants Port Group Co., Ltd. The Report for the First Quarter of 2019 4. Parent Company Income Statement
Unit: RMB
||||||
|-|-|-|-|-|
|Item||Q1 2019||Q1 2018|
|1. Operating revenue|44,067,273.73||44,714,453.31||
|Less: Cost of sales|34,142,026.25||30,942,499.65||
|Taxes and surcharges|767,603.79||457,736.06||
|Administrative expense|17,391,388.67||17,526,593.90||
|Finance costs|7,602,897.36||-4,335,368.90||
|Including: Interest expense|11,494,411.09||6,181,659.53||
|Interest income|3,408,108.16||6,643,296.49||
|Return on investment (“-” for loss)|12,832,064.39||16,605,846.24||
|Including: Share of profit or loss of joint ventures and|12,832,064.39||16,605,846.24||
|associates|||||
|Asset disposal income (“-” for loss)|-||-934,006.99||
|2. Operating profit (“-” for loss)|-3,004,577.95||15,794,831.85||
|Add: Non-operating income|6,680.14||3,113.00||
|Less: Non-operating expense|68,028.29||108.95||
|3. Total profit (“-” for loss)|-3,065,926.10||15,797,835.90||
|4. Net profit (“-” for net loss)|-3,065,926.10||15,797,835.90||
|4.1 Net profit of continuing operation (“-” for net loss)|-3,065,926.10||15,797,835.90||
|4.2 Net profit of discontinued operation (“-” for net loss)|-||-||
|5. Other comprehensive income, net of tax|75,000.00||-232,500.00||
|5.1 Items that will not be reclassified to profit or loss|75,000.00||-232,500.00||
|5.1.1 Other comprehensive income that will not be reclassified to|-||-||
|profit or loss under the equity method|||||
|5.1.2 Changes in the fair value of investments in other equity|75,000.00||-232,500.00||
|instruments|||||
|5.2 Items that will be reclassified to profit or loss|-||-||
|5.2.1 Other comprehensive income that will be reclassified to|-||-||
|profit or loss under the equity method|||||
|5.2.2 Differences arising from the translation of foreign|-||-||
|currency-denominated financial statements|||||
|6. Total comprehensive income|-2,990,926.10||15,565,335.90||

China Merchants Port Group Co., Ltd. The Report for the First Quarter of 2019 5. Consolidated Cash Flow Statement
Unit: RMB
||||||
|-|-|-|-|-|
|Item||Q1 2019||Q1 2018|
|1. Cash flows from operating activities:|||||
|Cash received from sale of commodities and rendering of services||2,647,510,819.37||1,819,094,588.96|
|Receipts of tax refunds||23.44||1,486,219.30|
|Cash received from other operating activities||437,792,411.01||163,911,046.96|
|Subtotal of cash received from operating activities||3,085,303,253.82||1,984,491,855.22|
|Payments for commodities and services||736,317,677.30||573,837,504.91|
|Cash paid to and on behalf of employees||727,281,690.78||570,853,953.70|
|Taxes paid||225,198,426.64||126,141,464.22|
|Cash paid in other operating activities||247,542,337.46||225,497,221.04|
|Subtotal of cash paid in operating activities||1,936,340,132.18||1,496,330,143.87|
|Net cash received from/used in operating activities||1,148,963,121.64||488,161,711.35|
|2. Cash flows from investing activities:|||||
|Return on investment||78,044,109.23||64,600,205.42|
|Cash received from the disposal of fixed assets, intangible assets and other|23,992,441.00||2,400,042.15||
|long-lived assets|||||
|Cash recevied from the disposal of subsidiaries and other business units||-||1,411,633,655.68|
|Cash received from other investing activities||1,315,937,327.03||-|
|Subtotal of cash received from investing activities||1,417,973,877.26||1,478,633,903.25|
|Payments for the acquisition of fixed assets, intangible assets and other|650,139,928.72||481,958,576.95||
|long-lived assets|||||
|Payments for investments||415,845,100.00||63,458,839.54|
|Net payments for the acquisition of subsidiaries and other business units||-||4,844,558,474.75|
|Cash used in other investing activities||255,659,104.33||25,463,391.23|
|Subtotal of cash used in investing activities||1,321,644,133.05||5,415,439,282.47|
|Net cash received from/used in investing activities||96,329,744.21||-3,936,805,379.22|
|3. Cash flows from financing activities:|||||
|Cash received from capital contributions||460,518,459.96||15,950,000.00|
|Including: Capital contributions by minority interests to subsidiaries||460,518,459.96||15,950,000.00|
|Borrowings obtained||5,720,896,211.18||9,562,436,640.00|
|Subtotal of cash received from financing activities||6,181,414,671.14||9,578,386,640.00|
|Repayments of borrowings||6,241,679,082.60||6,483,722,640.00|
|Payments for interest and dividends||575,131,285.06||231,250,932.71|
|Including: Dividends paid by subsidiaries to minority interests||24,360,440.28||9,307,713.92|
|Cash used in other financing activities||114,109,500.00||31,028,691.80|
|Subtotal of cash used in financing activities||6,930,919,867.66||6,746,002,264.51|
|Net cash received from/used in financing activities||-749,505,196.52||2,832,384,375.49|
|4. Effect of foreign exchange rate changes on cash and cash equivalents||-39,571,072.82||-64,787,995.88|
|5. Net increase in cash and cash equivalents||456,216,596.51||-681,047,288.26|
|Add: Cash and cash equivalents, beginning of the period||5,373,281,504.75||7,729,460,082.75|
|6. Cash and cash equivalents, end of the period||5,829,498,101.26||7,048,412,794.49|

China Merchants Port Group Co., Ltd. The Report for the First Quarter of 2019 6. Parent Company Cash Flow Statement
Unit: RMB
||||||
|-|-|-|-|-|
|Item||Q1 2019||Q1 2018|
|1. Cash flows from operating activities:|||||
|Cash received from sale of commodities and rendering of services|51,258,278.89||47,824,975.82||
|Cash received from other operating activities|236,323,914.96||212,220,080.47||
|Subtotal of cash received from operating activities|287,582,193.85||260,045,056.29||
|Payments for commodities and services|15,108,762.13||14,411,768.08||
|Cash paid to and on behalf of employees|40,097,735.78||45,449,193.68||
|Taxes paid|18,735,502.45||1,361,330.99||
|Cash used in other operating activities|183,200,592.57||188,998,993.20||
|Subtotal of cash used in operating activities|257,142,592.93||250,221,285.95||
|Net cash received from/used in operating activities|30,439,600.92||9,823,770.34||
|2. Cash flows from investing activities:|||||
|Return on investment|43,605,689.02||38,562,004.83||
|Cash received from the disposal of fixed assets, intangible assets and other|-||178,876.00||
|long-lived assets|||||
|Cash received from other investing activities|228,867,355.24||-||
|Subtotal of cash received from investing activities|272,473,044.26||38,740,880.83||
|Payments for the acquisition of fixed assets, intangible assets and other|1,715,483.68||2,438,533.25||
|long-lived assets|||||
|Payments for investments|375,334,390.00||-||
|Cash used in other investing activities|185,800,000.00||-||
|Subtotal of cash used in investing activities|562,849,873.68||2,438,533.25||
|Net cash received from/used in investing activities|-290,376,829.42||36,302,347.58||
|3. Cash flows from financing activities:|||||
|Borrowings obtained|280,000,000.00||-||
|Subtotal of cash received from financing activities|280,000,000.00||-||
|Repayments of borrowings|250,000,000.00||-||
|Payments for interest and dividends|11,647,054.79||-||
|Cash used in other financing activities|1,413,599.00||-||
|Subtotal of cash used in financing activities|263,060,653.79||-||
|Net cash received from/used in financing activities|16,939,346.21||-||
|4. Effect of foreign exchange rate changes on cash and cash equivalents|-3,957,304.53||-403,905.95||
|5. Net increase in cash and cash equivalents|-246,955,186.82||45,722,211.97||
|Add: Cash and cash equivalents, beginning of the period|389,841,854.93||230,039,345.73||
|6. Cash and cash equivalents, end of the period|142,886,668.11||275,761,557.70||

China Merchants Port Group Co., Ltd. The Report for the First Quarter of 2019 II Adjustments to the Financial Statements
1. Adjustments to the Financial Statements at the Beginning of the First Execution Year of any New Standards Governing Financial Instruments, Revenue or Leases
√ Applicable□ Not applicable
Consolidated Balance Sheet
Unit: RMB
|||||
|-|-|-|-|
|Item|31 December 2018|1 January 2019|Adjustment|
|Current assets:||||
|Cash and bank balances|7,070,308,704.75|7,070,308,704.75|-|
|Notes and accounts receivable|1,120,839,172.51|1,120,839,172.51||
|Including: Notes receivable|11,608,669.43|11,608,669.43|-|
|Accounts receivable|1,109,230,503.08|1,109,230,503.08|-|
|Prepayments|124,404,862.87|81,845,182.30|-42,559,680.57|
|Other receivables|799,559,226.45|799,559,226.45|-|
|Including: Interest receivable|33,041,147.73|33,041,147.73|-|
|Dividends receivable|259,804,145.16|259,804,145.16|-|
|Inventories|108,567,270.02|108,567,270.02|-|
|Assets classified as held for sale|115,356,162.94|115,356,162.94|-|
|Other current assets|1,195,421,189.12|1,195,421,189.12|-|
|Total current assets|10,534,456,588.66|10,491,896,908.09|-42,559,680.57|
|Non-current assets:||||
|Long-term receivables|793,046,240.11|793,046,240.11|-|
|Long-term equity investments|50,176,577,263.40|50,176,577,263.40|-|
|Investments in other equity instruments|247,848,314.30|247,848,314.30|-|
|Other non-current financial assets|2,087,872,081.94|2,087,872,081.94|-|
|Investment property|5,890,146,989.51|5,890,146,989.51|-|
|Fixed assets|22,994,190,880.43|17,477,797,429.30|-5,516,393,451.13 -|
|Construction in progress|5,499,426,090.06|5,499,426,090.06|-|
|Right-of-use assets|N/A|6,549,564,031.55|6,549,564,031.55|
|Intangible assets|20,761,018,044.54|20,761,018,044.54|-|
|Goodwill|8,335,895,842.35|8,335,895,842.35|-|
|Long-term prepaid expense|235,706,437.21|235,706,437.21|-|
|Deferred income tax assets|66,708,157.19|66,708,157.19|-|
|Other non-current assets|395,191,485.98|395,191,485.98|-|
|Total non-current assets|117,483,627,827.02|118,516,798,407.44|1,033,170,580.42|
|Total assets|128,018,084,415.68|129,008,695,315.53|990,610,899.85|

China Merchants Port Group Co., Ltd. The Report for the First Quarter of 2019
||||||
|-|-|-|-|-|
|Item||31 December 2018|1 January 2019|Adjustment|
|Current liabilities:|||||
|Short-term borrowings||3,425,291,312.62|3,425,291,312.62|-|
|Notes and accounts payable||429,120,690.97|429,120,690.97|-|
|Receipts in advance||29,170,709.86|29,170,709.86|-|
|Accrued payroll||433,489,555.40|433,489,555.40|-|
|Taxes payable||345,183,422.42|345,183,422.42|-|
|Other payables||2,245,670,528.89|2,245,670,528.89|-|
|Including: Interest payable||555,545,627.60|555,545,627.60|-|
|Dividends payable||66,052,207.09|66,052,207.09|-|
|Contractual liabilities||49,993,895.50|49,993,895.50|-|
|Current portion of non-current liabilities||2,349,849,449.96|2,473,888,817.84|124,039,367.88|
|Other current liabilities||602,659,721.80|602,659,721.80|-|
|Total current liabilities||9,910,429,287.42|10,034,468,655.30|124,039,367.88|
|Non-current liabilities:|||||
|Long-term borrowings||6,971,479,842.18|6,971,479,842.18|-|
|Bonds payable||22,097,467,096.40|22,097,467,096.40|-|
|Lease liabilities||N/A|1,020,239,824.73|1,020,239,824.73|
|Long-term payables||1,294,190,118.18|1,252,860,200.23|-41,329,917.95|
|Long-term payroll payable||375,325,127.65|375,325,127.65|-|
|Provisions||34,951,392.27|34,951,392.27|-|
|Deferred income||228,658,214.64|228,658,214.64|-|
|Deferred income tax liabilities||2,911,074,941.27|2,911,074,941.27|-|
|Other non-current liabilities||3,777,582,522.86|3,777,582,522.86|-|
|Total non-current liabilities||37,690,729,255.45|38,669,639,162.23|978,909,906.78|
|Total liabilities||47,601,158,542.87|48,704,107,817.53|1,102,949,274.66|
|Shareholders’ equity:|||||
|Share capital||1,793,412,378.00|1,793,412,378.00|-|
|Capital reserves||19,426,912,957.05|19,426,912,957.05|-|
|Other comprehensive income||88,925,978.57|88,925,978.57|-|
|Special reserves||8,231,080.43|8,231,080.43|-|
|Surplus reserves||527,175,908.67|527,175,908.67|-|
|Retained earnings||8,915,817,110.21|8,877,958,652.78|-37,858,457.43|
||Total equity attributable parent company|30,760,475,412.93|30,722,616,955.50|-37,858,457.43|
||owners||||
|Minority interests||49,656,450,459.88|49,581,970,542.50|-74,479,917.38|
|Total shareholders’ equity||80,416,925,872.81|80,304,587,498.00|-112,338,374.81|
|Total liabilities and shareholders’ equity||128,018,084,415.68|129,008,695,315.53|990,610,899.85|

China Merchants Port Group Co., Ltd. The Report for the First Quarter of 2019 Balance Sheet of parent company
Unit: RMB
|||||
|-|-|-|-|
|Item|31 December 2018|1 January 2019|Adjustment|
|Current assets:||||
|Cash and bank balances|389,841,854.93|389,841,854.93|-|
|Notes and accounts receivable|23,444,175.65|23,444,175.65|-|
|Accounts receivable|23,444,175.65|-|-|
|Other receivables|651,050,233.08|651,050,233.08|-|
|Including: Interest receivable|34,899.02|34,899.02|-|
|Dividends receivable|329,153,465.70|329,153,465.70|-|
|Inventories|165,553.46|165,553.46|-|
|Other current assets|1,563,111.61|1,563,111.61|-|
|Total current assets|1,066,064,928.73|1,066,064,928.73|-|
|Non-current assets:||||
|Long-term receivables|11,004,284.75|11,004,284.75|-|
|Long-term equity investments|28,544,261,576.96|28,544,261,576.96|-|
|Investments in other equity instruments|151,746,700.00|151,746,700.00|-|
|Investment property|12,685,959.06|12,685,959.06|-|
|Fixed assets|190,804,655.63|190,804,655.63|-|
|Construction in progress|2,500,843.87|2,500,843.87|-|
|Right-of-use assets|N/A|11,966,380.80|11,966,380.80|
|Intangible assets|57,755,603.44|57,755,603.44|-|
|Long-term prepaid expense|3,785,801.32|3,785,801.32|-|
|Total non-current assets|28,974,545,425.03|28,986,511,805.83|11,966,380.80|
|Total assets|30,040,610,353.76|30,052,576,734.56|11,966,380.80|
|Current liabilities:||||
|Short-term borrowings|377,716,000.00|377,716,000.00|-|
|Notes and accounts payable|13,125,624.29|13,125,624.29|-|
|Contractual liabilities|92,003.00|92,003.00|-|
|Accrued payroll|26,605,190.52|26,605,190.52|-|
|Taxes payable|18,826,587.50|18,826,587.50|-|
|Other payables|717,536,924.18|717,536,924.18|-|
|Including: Interest payable|15,011,119.82|15,011,119.82|-|
|Dividends payable|37,608,540.65|37,608,540.65|-|
|Current portion of non-current liabilities|299,531,506.81|305,454,311.08|5,922,804.27|
|Other current liabilities|200,000,000.00|200,000,000.00|-|
|Total current liabilities|1,653,433,836.30|1,659,356,640.57|5,922,804.27|

China Merchants Port Group Co., Ltd. The Report for the First Quarter of 2019
|||||
|-|-|-|-|
|Item|31 December 2018|1 January 2019|Adjustment|
|Non-current liabilities:||||
|Lease liabilities|N/A|6,369,170.76|6,369,170.76|
|Long-term payables|151,710,000.00|151,710,000.00|-|
|Deferred income tax liabilities|34,179,375.00|34,179,375.00|-|
|Total non-current liabilities|185,889,375.00|192,258,545.76|6,369,170.76|
|Total liabilities|1,839,323,211.30|1,851,615,186.33|12,291,975.03|
|Shareholders’ equity:||||
|Share capital|1,793,412,378.00|1,793,412,378.00|-|
|Capital reserves|25,517,647,180.04|25,517,647,180.04|-|
|Other comprehensive income|102,638,125.00|102,638,125.00|-|
|Special reserves|470,465.59|470,465.59|-|
|Surplus reserves|527,175,908.67|527,175,908.67|-|
|Retained earnings|259,943,085.16|259,617,490.93|-325,594.23|
|Total shareholders’ equity|28,201,287,142.46|28,200,961,548.23|-325,594.23|
|Total liabilities and shareholders’ equity|30,040,610,353.76|30,052,576,734.56|11,966,380.80|

 Note for adjustment:
The Company began to implement the new lease standards 1 January 2019. On that implementation date, the Company conducted financial accounting treatment in situations where lease liabilities shall be measured by the present value discounted bylessee’s incremental borrowing rate on the first execution day or right-of-use assets shall be measured by new lease standards ifit’s from the beginning date of lease term.
In the balance sheet, assets and liabilities increased at the same time due to the existence of operational lease contract, but it did not have significant impacts on theCompany’s financial situations.
2. Retrospective Restatement of Previous Comparative Data due to the First Execution of any New Standards Governing Financial Instruments or Leases
□ Applicable√ Not applicable
China Merchants Port Group Co., Ltd. The Report for the First Quarter of 2019III、Auditor’s report
Is this report audited?
□ Yes√ No
For and on behalf of the Board
Bai Jingtao
Legal representative of
China Merchants Port Group Co., Ltd. Dated 30 April 2019