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|755,433,248.27|810,701,084.56|-6.82%|
|company (RMB)||||
|Net profit attributable to shareholders of the listed|794,757,195.17|801,556,684.90|-0.85%|
|company after deducting non-recurring gains and||||
|losses (RMB)||||
|Net cash flow from operating activities|-4,330,633,173.95|790,021,934.12|-648.17%|
|(RMB)||||
|Basic earnings per share (RMB/share)|0.44|0.47|-6.38%|
|Diluted earnings per share (RMB/share)|0.44|0.47|-6.38%|

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|27,480,935,215.51|26,725,501,967.24|2.83%|
|listed company (RMB)||||

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
|||
|-|-|
||Amount from beginning of year to the end of report|
|Non-recurring gain and loss items||
||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|||||||
||66,588 (including 56,747 A-share holders and 9,841 B-share holders)||||||
|the end of the report period|||||||
|Shareholding of top 10 shareholders|||||||
|||Class of|Share|Amount of holding|Restricted|Pledged or luck-up|
|Name of shareholder|||||||
|||shareholder|proportion|shares|shares|shares|

CMPD the 1st Quarterly Report 2014 (Main Text t)
||||||||||
|-|-|-|-|-|-|-|-|-|
|||(%)|||||Share state|Amount|
|China Merchants Shekou Industrial Zone|State-owned legal||||||||
|||40.38%||693,419,317|693,419,317||None|None|
|Co., Ltd.|person||||||||
||Overseas legal||||||||
|FULL SPACE INVESTMENT LIMITED||5.48%||94,144,050|94,144,050||None|None|
||person||||||||
|China Merchants Securities Hong Kong|Overseas legal||||||||
|||2.91%||49,898,818|49,242,245||None|None|
|Co., Ltd.|person||||||||
||Overseas legal||||||||
|FOXTROT INTERNATIONAL LIMITED||1.61%||27,720,000|27,720,000||None|None|
||person||||||||
||Overseas legal||||||||
|ORIENTURE INVESTMENT LTD||1.55%||26,603,145|26,603,145||None|None|
||person||||||||
||Domestic none||||||||
|Full Goal Tianfu Innovative Theme Equity|||||||||
||state-owned legal|1.11%||19,009,918|None||None|None|
|Securities Investment Fund|||||||||
||person||||||||
||Domestic none||||None||||
|China Pacific life insurance Co., Ltd.－|||||||||
||state-owned legal|1.08%||18,501,423|||None|None|
|Traditional－General Insurance Products|||||||||
||person||||||||
||Domestic none||||None||||
|China Pacific life insurance Co., Ltd.－|||||||||
||state-owned legal|0.76%||12,965,823|||None|None|
|Dividends - Personal Dividends|||||||||
||person||||||||
||Overseas legal||||None||||
|GOLDEN CHINA MASTER FUND||0.75%||12,873,191|||None|None|
||person||||||||
||Domestic none||||||||
|National Social Insurance Fund 102|||||||||
||state-owned legal|0.73%||12,546,211|None||None|None|
|Combination|||||||||
||person||||||||
|Top 10 holders of unconditional shares|||||||||
||||||Category of shares||||
||||Amount of shares without||||||
|Name of the shareholder|||||Category of||||
||||trade limited conditions|||Amount|||
||||||shares||||
|Full Goal Tianfu Innovative Theme Equity Securities Investment|||||||||
||||19,009,918||A shares|19,009,918|||
|Fund|||||||||
|China Pacific Life Insurance Co., Ltd.－Traditional－General|||||||||
||||18,501,423||A shares|18,501,423|||
|Insurance Products|||||||||
|China Pacific Life Insurance Co., Ltd.－Dividends - Personal|||||A shares||||
||||12,965,823|||12,965,823|||
|Dividends|||||||||
|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|||

CMPD the 1st Quarterly Report 2014 (Main Text t)
|||||
|-|-|-|-|
|New China Life Insurance Co., Ltd - Dividends - Personal||A shares||
||11,850,000||11,850,000|
|Dividends – 018L - FH002 Shen||||
|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,||Increase/|Major Change Reasons|
||||||2013||Decrease (±%)||
|Accounts receivable||12,192||7,686||0.03%||Increase of receivables fromsale of real estate|
||Accrued employee|16,702||38,589||-0.16%||Payment of accrued payroll|
||compensation||||||||
|Interest payable||23,595||15,236||0.06%||Increase of interests payableon bank borrowings|
||Dividends payable||512||12,093||-0.09%|Payment of accrued dividends|
|Gain/ loss items||Jan-Mar, 2014||Jan-Mar, 2013|||Increase/|Major Change Reasons|
||||||||Decrease (±%)||
|Operating cost||457,655||303,870||51%||Increase of sales of real estatecarried forward during theperiod|
||Operating tax and additional|73,277||107,257||-32%||As the margin of the itemscarried forward is low, the landappreciation tax decreased.|
||expenses||||||||
|Financial cost||21,683||6,255||247%||The interest payment andforeign exchange losses of theperiod increased on theyear-over-year basis.|
|Investment income||11,944||231||5082%||The investment incomeincreased due to the changes ofthe equity act of affiliatedcompany.|

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|1,458,050|925,954|57%|The land and infrastructureexpenses increased than oneyear earlier.|
||business activities|||||
||Net cash flow generated by|-433,064|79,003|-648%|The growth of operating cashoutflow is larger than that ofthe operating cash inflow.|
||business operation|||||
||Sub-total of cash outflow due|7,150|4,374|63%|The cash paid for acquisitionof equity increased.|
||to investment activities|||||
|Net cash flow generated byinvestment||-7,150|-4,361|64%|Cash outflows year-on-yearincreased, but cash inflowsyear-on-year decreased in theinvestment activities.|
||Subtotal of cash inflow from|348,257|710,170|-51%|New borrowings of the perioddecreased.|
||financing activities|||||
||Subtotal of cash outflow due to|374,651|203,812|84%|Repayment of borrowingsincreased.|
||financing activities|||||

3.2 Progress of major issue and their influences and solutions
||||
|-|-|-|
|||References of Disclosure|
|Overview of Major Issue|Disclosure Date||
|||Websites of Interim Report|
|At the second extraordinary general meeting of|||
|shareholders in 2013, the Company has discussed and|||
|||For more information, please|
|passed the proposal in which shares will be issued to buy|||
|assets and raise money for the associated transactions. On||refer to China Securities News,|
|Nov 28, 2013, the company received the notice on|Nov 29, 2013; Nov 8, 2013; Oct. 23,|Securities Times, Shanghai|
|processing application for administrative approval. That|||
||2013; Oct. 16, 2013; Sep 17, 2013|Securities News, Hong Kong|
|means the China Securities Regulatory Commission has|||
|accepted the application of administrative approval the||Commercial Daily, Securities|
|company has filed for the issue of new shares to buy||Daily and www.cninfo.com.cn.|
|assets and raise money for the associated deal. The|||
|application remains in the stage of review.|||

3.3 Commitment issues made by the Company or shareholders with over5% of shares in the report term or carried down from the previous terms.
|||||||
|-|-|-|-|-|-|
||Party ofcommitment||Date of|||
|||||Term of|Status of|
|Commitments||Content of Commitments|commitme|||
|||||commitment|fulfilling|
||||nt|||
|Commitment inshare equityrelocation||Will input properties including high quality lands to support||Due at the day|In the report|
||||Dec 9|||
||CMSIZ|the Company’s development after the share equity||after two years|term,|
||||2005|||
|||relocation.||upon stop|CMSIZ was|

CMPD the 1st Quarterly Report 2014 (Main Text t)
|||||||
|-|-|-|-|-|-|
|||||holding of the|fully acting|
|||||Company’s|as|
|||||shares|committed.|
|Othercommitments tomid-smallshareholders||CMSIZ, the controlling shareholder of the Company,||||
|||promised not to conduct or participate with 3rd parties in||||
|||||Due at the day|In the report|
|||any business or activities possibly competing with the||||
|||||after two years|term,|
|||Company in terms of business, new commodities and new||||
||||Mar 19|upon stop|CMSIZ was|
||CMSIZ|technology in any forms (including but not limited to direct||||
||||2008|holding of the|fully acting|
|||operation, indirect operation, joint investment). Never use||||
|||||Company’s|as|
|||the information obtained from the Company to conduct or||||
|||||shares|committed.|
|||participate in and competitive activities against the||||
|||Company.||||

3.4 Non-operating capital occupying conditions of controlling shareholders and their related parties for listed company
Unit: 0,000 RMB
||||||||||||||
|-|-|-|-|-|-|-|-|-|-|-|-|-|
|Names ofshareholders orrelated persons||Holding time|Reasons|Openingbalance||Amount of||Total|Closingbalance|Predicted repayway|Predicted repayamount|Predictedrepay time(month)|
|||||||newly||repay|||||
|||||||increased||amoun|||||
|||||||occupying||t|||||
|||||||during||during|||||
|||||||report||report|||||
|||||||period||period|||||
|Shanghai NewNanshan RealEstate DevelopmentCo., Ltd||September,2011 to now|Fundborrowing|14,934|2,070||-||17,004|Cashpay off|17,004|December,2014|
|Jones Tech Limited||December, 2012to now|Reinvestment fund|6,243|-||6,243||-|-|-|-|
|Holly ProfitLimited||December, 2012to now|Reinvestment fund|9,255|-||9,255||-|-|-|-|
|Blue CoveInternational Ltd||December, 2013to now|Reinvestment fund|4,481|-||4,481||-|-|-|-|
|PowerwiseInternational Ltd||December, 2013to now|Reinvestment fund|8,903|-||8,903||-|-|-|-|
||Total|||43,816|2,070||28,882||17,004|-|17,004|-|

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
|||||||
|-|-|-|-|-|-|
||||Received object||Content discussed and|
|Reception date|Reception place|Reception way||Received object||
||||type||information provided|
|||Telephone|Institutional|||
|January 4, 2014|Shenzhen|||China Securities||
|||communication|investor|||
|||Telephone|Institutional|||
|January 7, 2014|Shenzhen|||Orient Securities||
|||communication|investor|||
|||Telephone||||
|January 8, 2014|Shenzhen||individual investor|individual investor||
|||communication||||
|||Telephone||||
|January 8, 2014|Shenzhen||individual investor|individual investor||
|||communication||||
|||Project|Institutional|Everbright||
|January 8, 2014|Shanghai||||① Introducing operation|
|||investigation|investor|Securities||
||||||of the Company|
||||Institutional|||
||||||② Discussing the|
|January 9, 2014|Shenzhen|Field investigation||Runhui Investment||
||||investor||industry development;|
||||Institutional||③ Providing the|
|January 14, 2014|Suzhou, Shanghai|Field investigation||Runhui Investment||
||||investor||information announced and|
||||Institutional|William Blair、|brochure for projects of the|
|January 15, 2014|Nanjing, Suzhou|Field investigation||||
||||||Company.|
||||investor|CICC||
||||||④ Visiting the Company|
|||Telephone||||
|January 16, 2014|Shenzhen||individual investor|individual investor|on-sale|
|||communication||||
||||Institutional|||
|January 17, 2014|Shenzhen|Field investigation||Harvest Fund||
||||investor|||
|||||China Asset||
||||Institutional|||
|January 24, 2014|Shenzhen|Field investigation||Management,||
||||investor|||
|||||Haitong Securities||
|||Telephone|Institutional|Hillhouse Capital||
|January 29, 2014|Shenzhen|||||
|||communication|investor|Management||
|February 8, 2014|Shenzhen|Field investigation|Institutional|Fullgoal Fund||

CMPD the 1st Quarterly Report 2014 (Main Text t)
||||||
|-|-|-|-|-|
||||investor||
|||Telephone|Institutional|Ping An Securities,|
|February 10, 2014|Shenzhen||||
|||||GF Securities,|
|||communication|investor||
|||||Schroders Fund|
|||||GF Securities,|
||||Institutional|China Asset|
|February 12, 2014|Shenzhen|Field investigation|||
|||||Management,Yinhu|
||||investor||
|||||a Fund, Penghua|
|||||Fund, etc|
|||Telephone|||
|February 12, 2014|Shenzhen||individual investor|individual investor|
|||communication|||
|||Telephone|Institutional||
|February 12, 2014|Shenzhen|||CICC|
|||communication|investor||
|||Telephone|||
|February 12, 2014|Shenzhen||individual investor|individual investor|
|||communication|||
|||Telephone|||
|February 14, 2014|Shenzhen||individual investor|individual investor|
|||communication|||
|||Telephone|Institutional||
|February 17, 2014|Shenzhen|||Huatai Securities|
|||communication|investor||
|||Telephone|||
|February 20, 2014|Shenzhen||individual investor|individual investor|
|||communication|||
|||Telephone|||
|February 27, 2014|Shenzhen||individual investor|individual investor|
|||communication|||
|||Telephone|||
|March 5, 2014|Shenzhen||individual investor|individual investor|
|||communication|||
|||Telephone|||
|March 13, 2014|Shenzhen||individual investor|individual investor|
|||communication|||
|||||40 institution s|
|||||such as Guotai|
|||||Junan Securities,|
|||||CITIC Securities,|
||||Institutional|China Jianyin|
|March 17, 2014|Shenzhen|Field investigation|||
|||||Investment|
||||investor||
|||||Securities, Fullgoal|
|||||Fund,|
|||||Citic-prudential|
|||||Fund、Penghua|
|||||Fun, etc.|
|||||Baring Asset|
|||||Management|
|||||Limited, Norges|
||||Institutional||
|March 24, 2014|Hong Kong|Strategic seminar||Bank, Capital|
||||investor|Research Global|
|||||Investors,|
|||||Manulife, Morgan|
|||||Stanley Investment|

CMPD the 1st Quarterly Report 2014 (Main Text t)
||||||
|-|-|-|-|-|
|||||Management|
|||||Company, Three|
|||||Corner|
|||Telephone|Institutional||
|March 31, 2014|Shenzhen|||GF Securities|
|||communication|investor||
|||Telephone|Institutional||
|March 31, 2014|Shenzhen|||China Securities|
|||communication|investor||
|||Telephone|Institutional||
|March 31, 2014|Shenzhen|||Runhui Investment|
|||communication|investor||