Stock code: 200053 Short form: Chiwan Base -B Serial number: 2015-14 SHENZHEN CHIWAN PETROLEUM SUPPLY BASE CO., LTD.
THE ABSTRACT OF ANNUAL REPORT FOR YEAR 2014 1. Important Notice
This abstract of annual report is extracted from the full text of annual report for year 2014 which is published on www.cninfo.com.cn and www.szse.cn simultaneously. Investors shall read the full text carefully for the details. Company Information
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|Stock Abbreviation|Chiwan Base B|Stock Code||200053|
|Stock Exchange|Shenzhen Stock Exchange||||
|Contact Person and Contact Method|Board Secretary||Securities Representative||
|Name|Song Tao||Li Zizheng||
|Telephone|0755-26694211||0755-26694211||
|Fax|0755-26694227||0755-26694227||
|E-mail Address|sa@chiwanbase.com||sa@chiwanbase.com||

2. Major Accounting Data and Change of Shareholders
（1）Major Accounting Data
Unit: RMB
||||||||
|-|-|-|-|-|-|-|
|||Y2013||Change (%)|Y2012||
||Y2014|Before||After|Before|After|
||||After Adjustment||||
|||Adjustment||Adjustment|Adjustment|Adjustment|
|Operating Revenue|712,958,603.26|691,832,626.47|691,832,626.47|3.05%|578,591,906.37|578,591,906.37|
|Net Profit Attributed to|218,544,184.50||204,249,571.44||||
|Shareholders of Listed||207,564,394.21||7.00%|162,182,965.40|162,182,965.40|
|Company|||||||
|Net Profit Net of|||||||
|Non-recurring Gain and|||||||
||220,496,736.41|203,689,503.81|200,374,681.04|10.04%|159,080,420.14|159,080,420.14|
|Loss Attributed to|||||||
|Listed Company|||||||
|Net Cash Flows from|414,370,760.05||434,087,958.45||||
|||435,461,050.15||-4.54%|327,679,121.29|327,679,121.29|
|Operating Activities|||||||
|Basic Earnings per|0.95||0.89||||
|||0.9||6.74%|0.7|0.7|
|Share (RMB/Share)|||||||
|Diluted Earnings per|N/A||N/A||||
|||N/A||N/A|N/A|N/A|
|Share (RMB/Share)|||||||
|Weighted Return on|13.84%|15.07%|14.84%|-1.00%|13.23%|13.23%|

||||||||
|-|-|-|-|-|-|-|
|Equity（%）|||||||
|||December 31, 2013||Change (%)|December 31, 2012||
||December 31,||||||
|||Before||After|Before|After|
||2014||After Adjustment||||
|||Adjustment||Adjustment|Adjustment|Adjustment|
|Total Assets|5,389,629,871.81|4,501,064,624.96|4,718,603,625.96|14.22%|4,479,086,519.77|4,479,086,519.77|
|Owner’s Equity|1,690,486,032.37||1,470,275,398.55||||
|Attributed to|||||||
|||1,472,986,548.28||14.98%|1,287,559,503.34|1,287,559,503.34|
|Shareholders of Listed|||||||
|Company|||||||

Note:
In reporting period, Blogis (Hongkong) Limited has acquired100% equity of China Huitong (H.K.) Limited. According to the Accounting Standards for Business Enterprises (the “ASBEs”), the acquisition results in changes of consolidation scope due to business combination involving enterprises under common control and restating the financial report for 2013.
（2）Top Ten Shareholders
|||||||||||
|-|-|-|-|-|-|-|-|-|-|
||||Total number of shareholders 5|||||||
|Total shareholders at the end of||||||||||
||7,03||7 trading day before annual report||||7,037|||
|reporting period||||||||||
||||disclosure dated|||||||
|Top Ten Common Shareholders||||||||||
|||||||||Impawned or||
|||||Ratio|Total shares|Non-tradable||||
|Name||Nature||||||||
|||||||||Frozen Shares||
|||||(%)|held|shares||||
|||||||||Status|Shares|
|CHINA NANSHAN DEVELOPMENT(GROUP) INCORPORATION||Domestic LegalPerson||51.79%|119,420,000|119,420,000||||
|||||||||-|0|
|China Logistics Holding(12) PTE.LTD.||Foreign LegalPerson||19.90%|45,890,000|0||||
|||||||||-|Unknown|
|CHINA MECHANTS SECURITIES(HONGKONG) LTD||State-owned LegalPerson||1.46%|3,361,068|0||||
|||||||||-|Unknown|
|MATTHEWS CHINA DIVIDEND FUND||Foreign LegalPerson||0.81%|1,861,968|0||||
|||||||||-|Unknown|
|GUOTAI JUNANSECURITIES(HONGKONG) LIMITED||Foreign LegalPerson||0.55%|1,275,742|0||||
|||||||||-|Unknown|
|GREENWOODS CHINA ALPHA MASTERFUND||Foreign LegalPerson||0.43%|984,693|0||||
|||||||||-|Unknown|
|DEUTSCHE BANK AG LONDON||Foreign LegalPerson||0.36%|833,136|0||||
|||||||||-|Unknown|
|VANGUARD TOTAL INTERNATIONALSTOCK INDEX FUND||Foreign LegalPerson||0.33%|756,136|0||||
|||||||||-|Unknown|
|LI SHU CHUN||Domestic NaturalPerson||0.30%|681,720|0||||
|||||||||-|Unknown|
|CHINA INT'L CAPITAL CORP HONG KONG||Foreign LegalPerson||0.27%|631,089|0||||
|||||||||-|Unknown|

|||
|-|-|
|SECURITIES LTD||
||Among the top ten shareholders, the domestic legal|
||entity shareholder, China Nanshan Development|
||(Group) Incorporation has no affiliated relations with|
||other shareholders and does not fall into the scope of|
|Explanation for the Affiliated Relations or United Action||
||united action person stipulated by “Regulation of|
|of the Top Ten Shareholders||
||Information Disclosure of the Change of|
||Shareholding of listed company”. It is unknown that|
||whether other tradable-share shareholders fall into the|
||scope of united action person.|

（3）Top Ten Preferred Shareholders
Inapplicable
（4）Chart of Actual Controller and the Company
State-Owned Assets
Supervision and
Administration Commission
of the State Council
100％
China Merchants Group State-Owned State-Owned China National Offshore Oil
Assets Assets Corporation
54.62％
Supervision and Supervision
100％
Administration and
Commission of Administration
China Merchants Holdings
Shenzhen Commission of
(International) Company
Municipal Guangdong
Limited
Government Province
100％ 100％ 100％
China Silverflow Shenzhen Guangdong China China HK Clifford Merchants Co., Ltd. Investment Petro-Trade National Ocean Wong (Nanshan) Holdings Development Offshore Oilfields Investment Holdings Co., Ltd. Corporation Oil Services Co. ,Ltd Ltd Investment (Hong
Co. ,Ltd Kong)
Limited
(COOS)
0.50% 1.64%
36.52% 26.10% 23.49%
7.83%
3.92% China Nanshan Development (Group) Incorporation
51.79%
Tradable
Shenzhen Chiwan Petroleum Supply Base Co. Ltd. 48.21%
Shareholders (B Shares)
3. Business Discussion and Analysis
The Company's main business scope includes providing oil logistics support services for oil exploration, development and production in the eastern South China Sea; logistics park service for warehousing, distribution, supply chain management, logistics finance, equipment leasing by controlling subsidiaries; offshore engineering service for structure design, fabrication and maintenance by associated companies.
By means of optimizing management, marketing, developing projects, HR and etc, the Company has achieved revenue of RMB 713 million in 2014, an increase of3.1% and net profit attributed to shareholders of listed company of RMB 219 million, an increase of7% compared with last year respectively.
（1）Major Finance data change
Unit：RMB
|||||
|-|-|-|-|
||Reporting Period|Last Period|Year over Year change（%）|
|Operating Revenue|712,958,603.26|691,832,626.47|3.05%|
|Operating Cost|259,661,927.23|252,860,477.85|2.69%|
|Sale Expense|423,872.43|1,108,956.18|-61.78%|
|Management Expense|95,231,275.15|89,099,231.46|6.88%|
|Finance Expense|146,278,726.91|146,367,084.19|-0.06%|
|Income Tax|51,731,039.46|53,322,779.56|-2.99%|
|Net Cash flow from Operating|414,370,760.05|434,087,958.45|-4.54%|
|Net Cash flow from Investment|-399,258,358.37|-754,851,499.73|47.11%|
|Net Cash flow from Financing|60,491,280.41|-274,609,177.57|122.03%|
|Net increase in cash and cash|75,423,491.55|-593,443,770.69||
||||112.71%|
|equivalents||||

Note to the year-on-year change of the relevant data by over30%
Sale expense decreased mainly due to the decreased actual intermediary costs;
Net cash flow from Investment increased mainly due to withdrawal of financial products principals;
Net cash flow from financing/Net increase in cash and cash equivalents increased mainly due to newly added borrowings and withdrawal of financial products principals.
（2）Main Business
Unit: RMB
||||||||
|-|-|-|-|-|-|-|
|||||Operating|||
||||||Operating Cost|Gross Profit|
|||||Revenue|||
||||||Change over|Rate Change|
||Operating||Gross Profit|Change over|||
|||Operating Cost|||the Same|over the Same|
||Revenue||Rate (%)|the Same|||
||||||Period of Last|Period of Last|
|||||Period of Last|||
||||||Year（%）|Year（%）|
|||||Year（%）|||
|By Industries|||||||
|Warehouse and|||||||
||459,420,777.75|165,537,486.60|63.97%|4.27%|4.78%|-0.17%|
|Storage|||||||
|Loading and|||||||
|Unloading|118,875,200.46|45,155,722.90|62.01%|16.46%|11.44%|1.71%|
|Services|||||||

||||||||
|-|-|-|-|-|-|-|
|Harbor|||||||
||65,928,619.94|15,751,307.76|76.11%|-18.47%|4.33%|-5.22%|
|Management|||||||
|Office Leasing|||||||
||59,813,106.22|30,328,955.61|49.29%|11.90%|14.80%|-1.29%|
|and Other|||||||
|By Regions|||||||
|South China|361,044,737.62|142,721,255.87|60.47%|-0.03%|6.69%|-2.49%|
|East China|199,280,506.62|56,038,476.28|71.88%|11.34%|2.88%|2.31%|
|North China|81,544,922.53|28,723,323.05|64.78%|-7.06%|0.06%|-2.50%|
|Southwest|||||||
||62,167,537.60|29,290,417.67|52.88%|26.62%|26.99%|-0.14%|
|China|||||||

（3）The business and performance analysis of the Company's main subsidiaries and joint ventures
Offshore Oil Logistics Business
Under the sever domestic and international economic situation which influenced by international lasting fall of oil prices, rising labor costs, clients evacuation and reducing operation, the Company has taken measures such as innovating management, updating technology transform and service, strengthening heavy parts operation and deep-water service ability and controlling cost to meet expected goals at the beginning of the year. In 2014, offshore oil logistics business achieved operating revenue of RMB 340 million, decreasing by2.99% and net profit of RMB 147 million, decreasing by1.88% compared with last year respectively.
Blogis Business
Blogis companies have achieved good performance in reporting period. The storage price of operating Blogis companies slightly increase. By strengthening corecustomers’ management, prompting extension business and standard operating procedures, the quality and efficiency of service has been improved and cooperation with clients has been strengthened.
Main Operating Index of Blogis
Unit: RMB Million
|||||||
|-|-|-|-|-|-|
|Parks|Revenue|Net Profit|Occupation Rate（%）|RevenueGrowth（%）|Net ProfitGrowth（%）|
|Shanghai Baowan|89.34|53.72|100.0|105.6|140.8|
|Shanghai Mingjiang|53.38|26.84|100.0|116.1|108.4|
|Kunshan Baowan|53.39|25.00|100.0|110.4|124.5|
|Langfang Baowan|26.12|8.38|83.8|77.0|74.1|
|Tianjin Baowan|55.43|21.32|93.6|103.0|106.0|
|Xindu Baowan|20.11|5.80|90.2|104 .1|122.1|
|Longquan Baowan|42.06|12.64|96.4|141.2|184.0|
|Guangzhou Baowan|11.16|0.76|92.0|148.2|-|
|Shenzhen Baowan|18.65|2.54|87.1|102.7|105.9|

Note: The net profit of above-mentioned subsidiaries excludes interest expenses influence.
Note to the year-on-year change of the relevant data by over30%
Revenue and net profit of Longquan Baowan increased mainly due to newly operation of Phase III and growth of
distribution business.
Revenue of Guanzhou Baowan increased mainly due to newly operation for Plot A in December, 2014.
Revenue of Shanghai Baowan increased mainly due to lease price increase and extension service growth. Change in net profit was mainly affected by income tax collection approach. Eliminated income tax influence, net profit of Shanghai Baowan increased by1.69% with good profitability.
Offshore Engineering and other
CSE: The Company holds32% stake. CSE contributed an investment income of RMB 57.88 million to the Company in 2014, decreasing by4.7% compared with last year.
CPEC: The Company holds a20% stake. Influenced by investment adjustment, the deficit of CPEC is RMB 1.33 million in 2014, which affected investment income of RMB -0.27million to the Company.
China Development Finance Limited: The Company holds20% stake. It contributed an investment income of RMB 4.1 million to the Company in 2014.
(4) Project Construction Development
Guangzhou Baowan Plot A: The constructions of four 3-floor warehouses, one office building and ancillary buildings with an area of 133,000
m2
have been completed and put into use.
Chengdu Longquan Baowan Phase III: The construction of two warehouses with an area of 48,000
m2has been completed and put into use.
Nanjing Baowan: The construction of seven warehouses and one multiple-used building with an area of 107,000 m2
has been completed and put into use.
Nantong Baowan Phase I: The construction of four warehouses and two multiple-used buildings with an area of 46,700
m2
has been completed and put into use.
Wuhan Baowan: The project plans to construct eight warehouses and one multiple-used building with an area of 177,000
m2
in two phases. Phase I is under the final stage, which has completed construction of six warehouses with an area of about 140,000
m2
and main body for one multiple-used building.
Chiwan Base Eastern Highland Project: Both construction of two new warehouses located Land A with an area of 12,000
m2
and office building expansion in Land B with an area of 1,000
m2
have been completed. One new warehouse with an area of 4,800
m2has
been completed construction and delivered for decoration..
Tianjin Bingang Baowan: The ground treatment works have been completed and design and working plan adjustment also finished. The project is on the stage of construction bidding.
Wuxi Baowan: The constructions of five warehouses and one multiple-used building with an area of 118,000 m2 are expected to complete and put into use in March 2016, which soft ground treatment has been completed. The project is prepared for main body construction.
Zhenjiang Baowan: The construction of nine warehouses and one multiple-used building with an area of 148,000 m2
is expected to complete and put into use in April 2016, which ground treatment has been completed. The project is prepared for main body construction.
4. Related Issues of Financial Report
(1) Adjustment of Accounting Policy, Accounting Estimation and Accounting Method Compared with 2013 Annual Report
In 2014, the Ministry of Finance revised and issued eight new standards of Accounting Standard for Business Enterprises on a large scale, involving Accounting Standard for Business EnterprisesNo.2–Long-term Equity Investments (CAS 2), Accounting Standard for Business EnterprisesNo.9–Employee Benefits (CAS 9), Accounting Standard for Business EnterprisesNo.30–Presentation of Financial Statements (CAS 30), Accounting Standard for Business EnterprisesNo.33–Consolidated Financial Statements (CAS 33), Accounting Standard for Business EnterprisesNo.37–Presentation of Financial Instruments (CAS 37), Accounting Standard for Business EnterprisesNo.39–Fair Value Measurement (CAS 39), Accounting Standard for Business EnterprisesNo.40–Joint Arrangements (CAS 40) and Accounting Standard for Business EnterprisesNo.41–Disclosure of Interests in Other Entities (CAS 41).
The Company has performed above mentioned new accounting standards since July 1, 2014 required by Finance Ministry. There is no need to adjust opening balance items and amount. Therefore, this adjustment of accounting policy has no significant impact on financial statements of the Company.
(2) Necessary Retrospective Restatement for Significant Correction of Accounting Errors during the Report Period
Inapplicable
(3) Adjustment Illustration of Consolidated Statement Scope Compared with Financial Report for 2013 11 new subjects are combined into consolidated statement as follows:
Baowan Logistic Feidong Co., Ltd.,Xi’an Baowan International Logistic Co., Ltd., Xianyang Baowan
International Logistic Co., Ltd., Qingdao Jiaozhou Baowan International Logistic Co., Ltd., Changzhou Baowan Logistic Co., Ltd., Wuxi Blogis Co. Ltd., Zhenjiang Shenjidi Warehouse Co.,Ltd., Jiaxing Baowan Logistic Co., Ltd., Jiangyin Baowan International Logistic Co., Ltd., Blogis ( Hongkong ) Limited, China Huitong (H.K.) Limited.
(4) Board of Directors andSupervisors’ Statement to the UnqualifiedAuditor’s Report Issued by the CPAs Inapplicable
Board of Directors
Shenzhen Chiwan Petroleum Supply Base Co., Ltd. March 12, 2015