[中报]招港B(201872):2022年半年度报告(英文版)

时间:2022年08月30日 20:56:37 中财网

原标题:招港B:2022年半年度报告(英文版)

CHINAMERCHANTSPORTGROUPCO.,LTD.
INTERIMREPORT2022
DateofDisclosure:31August2022
1
PartIImportantNotes,TableofContentsandDefinitions
TheBoardofDirectors(orthe“Board”),theSupervisoryCommitteeaswellasthedirectors,supervisorsandseniormanagersofChinaMerchantsPortGroupCo.,Ltd.(hereinafterreferredtoasthe“Company”)herebyguaranteethefactuality,accuracyandcompletenessofthecontentsofthisReportanditssummary,andshallbejointlyandseverallyliableforanymisrepresentations,misleadingstatementsormaterialomissionstherein.
WangXiufeng,theCompany’slegalrepresentative,TuXiaoping,theCompany’sChiefFinancialOfficer,andHuangShengchao,theperson-in-chargeoftheaccountingorganherebyguaranteethatthefinancialstatementscarriedinthisReportarefactual,accurateandcomplete.AlltheCompany’sdirectorshaveattendedtheBoardmeetingforthereviewofthisReportanditssummary.
Anyforward-lookingstatementssuchasfutureplansordevelopmentstrategiesmentionedhereinshallnotbeconsideredastheCompany’spromisestoinvestors.Andinvestorsareremindedtoexercisecautionwhenmakinginvestmentdecisions.
RisksfacedbytheCompanyandcountermeasureshavebeenexplainedinItemXin“PartIIIManagementDiscussionandAnalysis”herein,whichinvestorsarekindlyremindedtopayattentionto.
SecuritiesTimes,ChinaSecuritiesJournal,ShanghaiSecuritiesNews,TaKungPao(HK)andwww.cninfo.com.cnhavebeendesignatedbytheCompanyforinformationdisclosure.Andallinformation about the Companyshall besubject to what’sdisclosed ontheaforesaid media.Investorsarekindlyremindedtopayattentiontothesemedia.
TheCompanyisnotsubjecttoanyindustry-specificdisclosurerequirements.TheCompanyhasnointerimdividendplan,eitherintheformofcashorstock.ThisReportanditssummaryhavebeenpreparedinbothChineseandEnglish.Shouldtherebeanydiscrepanciesormisunderstandingsbetweenthetwoversions,theChineseversionsshallprevail.TableofContents
PartIImportantNotes,TableofContentsandDefinitions....................................1PartIICorporateInformationandKeyFinancialInformation.............................6PartIIIManagementDiscussionandAnalysis.......................................................10PartIVCorporateGovernance................................................................................35
PartVEnvironmentalandSocialResponsibility...................................................37PartVISignificantEvents.........................................................................................51
PartVIIShareChangesandShareholderInformation.........................................69PartVIIIPreferenceShares......................................................................................74
PartIXBonds..............................................................................................................75
PartXFinancialStatements......................................................................................79
DocumentsAvailableforReference
I.FinancialStatementscarryingthesignaturesandstampsoftheCompanyPrincipal,theChiefFinancialOfficerandthepersoninchargeofaccountingfirm;
II.Originalcopiesofalldocumentsandtheannouncementsthereofdisclosedinthereportingperiodon“SecuritiesTimes”,“ShanghaiSecuritiesNews”and“TaKungPao”.Definitions

TermDefinition
The “Company”, “CMPort” or “we”China Merchants Port Group Co., Ltd., formerly known as “ShenzhenChiwanWharfHoldingsLimited”
CMGChinaMerchantsGroupCo.,Limited
CMPortHoldingsChinaMerchantsPortHoldingsCompanyLimited(00144.HK)
CSRCChinaSecuritiesRegulationCommission
CMITChinaMerchantsInternationalTechnologyCo.,Ltd.,
DongguanMachongDongguanChiwanPortServiceCo.,Ltd.
ShantouPortShantouCMPortGroupCo.,Ltd.
ZhanjiangPortZhanjiangPort(Group)Co.,Ltd.
ShundeNewPortGuangdongYidePortLimited
ZhangzhouPortZhangzhouChinaMerchantsPortCo.,Ltd.
CMICTNingboDaxieChinaMerchantsInternationalContainerTerminal Co.,Ltd.
CICTColomboInternationalContainerTerminalsLtd.
HIPGHambantotaInternationalPortGroup
LCTLomeContainerTerminalLtd.
TCPTCPParticipa??esS.A
TEUTwentyFootEquivalentUnit
CMePortThewharfe-commerceplatform,i.e.theunifiedcustomerservice platform
HaixingHarborShenzhenHaixingHarborDevelopmentCo.,Ltd.
YingkouPortYingkouPortCo.,Ltd.
LiaoningPort/DalianPortLiaoningPortCo.,Ltd.,formerlyknownasDalianPort(PDA) CompanyLimited
SASACoftheStateCouncilState-OwnedAssetsSupervisionandAdministrationCommission oftheStateCouncil
SIPGShanghaiInternationalPort(Group)Co.,Ltd.
TianjinPortContainerTerminalTianjinPortContainerTerminalCo.,Ltd.
QQCTUQingdaoQianwanUnitedContainerTerminalCo.,Ltd.
CMCSChinaMerchantsContainerServicesLimited
ModernTerminalsModernTerminalsLimited
TaiwanKaoMingContainerKaoMingContainerTerminalCorp.
TLTerminalLinkS.A.S.
KumportKumportLimanHizmetleriveLojistikSanayiveTicaretAnonim Sirketi
PDSAPortdeDjiboutiS.A.
TICTTin-CanIslandContainerTerminalLtd.
QQTUQingdaoQianwanUnitedTerminalCo.,Ltd.
QingdaoDongjiakouQingdaoPortDongjiakouOreTerminalCo.,Ltd.
LaizhouPortYantaiPortGroupLaizhouPortCo.LTD
XiamenPortZhangzhouChinaMerchantsXiamenPortAffairsCo.,Ltd.
NingboZhoushanNingboZhoushanPortCompanyLimited
Thecninfowebsitewww.cninfo.com.cn
SZSEShenzhenStockExchange
The“ArticlesofAssociation”TheArticlesofAssociationofChinaMerchantsPortGroupCo., Ltd.
RMB RMB’0,000 RMB’00,000,000ExpressedintheChinesecurrencyofRenminbi ExpressedintensofthousandsofRenminbi ExpressedinhundredsofmillionsofRenminbi (unlessotherwisespecified)
Note:InthisReport,certaintotalnumbersmaynotbeexactlyequaltothesummationoftheirsub-itemnumbersasaresultofroundoff.
PartIICorporateInformationandKeyFinancialInformation
ICorporateInformation

StocknameCMPortGroup/ CMPortGroupBStockcode001872/201872
Stock exchange for stock listingShenzhenStockExchange  
CompanynameinChinese招商局港口集团股份有限公司  
Abbr.(ifany)招商港口  
CompanynameinEnglish(if any)ChinaMerchantsPortGroupCo.,Ltd.  
Abbr.(ifany)CMPort  
LegalrepresentativeWangXiufeng  
IIContactInformation

 BoardSecretarySecuritiesRepresentative
NameLiYubinHuJingjing
Address24/F,ChinaMerchantsPort Plaza,1Gongye3rdRoad, ZhaoshangStreet,Nanshan, Shenzhen,PRC24/F,ChinaMerchantsPort Plaza,1Gongye3rdRoad, ZhaoshangStreet,Nanshan, Shenzhen,PRC
Tel.+8675526828888+8675526828888
Fax+8675526886666+8675526886666
Emailaddress[email protected][email protected]
IIIOtherInformation
1.ContactInformationoftheCompany
Indicatebytickmarkwhetheranychangeoccurredtotheregisteredaddress,officeaddressandtheirzipcodes,websiteaddressandemailaddressoftheCompanyintheReportingPeriod.□Applicable√Notapplicable
NochangeoccurredtothesaidinformationintheReportingPeriod,whichcanbefoundinthe2021AnnualReport.
2.MediaforInformationDisclosureandPlacewherethisReportisLodgedIndicatebytickmarkwhetheranychangeoccurredtotheinformationdisclosuremediaandtheplaceforlodgingtheCompany’speriodicreportsintheReportingPeriod.□Applicable√Notapplicable
ThenewspapersdesignatedbytheCompanyforinformationdisclosure,thewebsitedesignatedbytheCSRCfordisclosingtheCompany’speriodicreportsandtheplaceforlodgingsuchreportsdidnotchangeintheReportingPeriod.Thesaidinformationcanbefoundinthe2021AnnualReport.3.OtherRelevantInformation
Indicate by tick mark whether any change occurred to the other relevant information in theReportingPeriod.
□Applicable√Notapplicable
IVKeyFinancialInformation
Indicatebytickmarkwhetherthereisanyretrospectivelyrestateddatuminthetablebelow.?Yes√No

 H12022H12021Change(%)
Operatingrevenue (RMB)8,150,462,367.197,339,942,862.2611.04%
Netprofit attributabletothe listedcompany’s shareholders(RMB)1,981,861,324.621,677,035,346.1718.18%
Netprofit attributabletothe listedcompany’s shareholdersbefore exceptionalgains andlosses(RMB)1,920,549,245.601,644,696,060.9716.77%
Netcashgenerated from/usedin operatingactivities (RMB)3,221,251,177.092,934,960,407.969.75%
Basicearningsper share(RMB/share)1.030.8718.39%
Dilutedearningsper1.030.8718.39%
share(RMB/share)   
Weightedaverage returnonequity(%)4.88%4.43%0.45%
 30June202231December2021Change(%)
Totalassets(RMB)182,438,574,161.08175,984,101,168.663.67%
Equityattributableto thelistedcompany’s shareholders(RMB)41,214,899,867.0139,801,188,662.133.55%
ThetotalsharecapitalattheendofthelasttradingsessionbeforethedisclosureofthisReport:
Totalsharecapitalattheendofthelasttrading sessionbeforethedisclosureofthisReport(share)1,922,365,124
Fullydilutedearningspersharebasedonthelatesttotalsharecapitalabove:
Fullydilutedearningspersharebasedonthelatest totalsharecapitalabove(RMB/share)1.0309
VAccountingDataDifferencesunderChina’sAccountingStandardsforBusinessEnterprises(CAS) and International Financial Reporting Standards (IFRS) andForeign AccountingStandards
1.NetProfitandEquityunderCASandIFRS
□Applicable√Notapplicable
NodifferencefortheReportingPeriod.
2.NetProfitandEquityunderCASandForeignAccountingStandards
□Applicable√Notapplicable
NodifferencefortheReportingPeriod.
3. Reasons forAccounting Data Differences between Domestics andForeign AccountingPrinciple
□Applicable√Notapplicable
VIExceptionalGainsandLosses
Unit:RMB

ItemAmountNote
Gainorlossondisposalof non-currentassets(inclusive ofimpairmentallowance-1,794,945.06-
write-offs)  
Governmentsubsidiescharged tocurrentprofitorloss (exclusiveofgovernment subsidiesgiveninthe Company’sordinarycourseof businessatfixedquotasor amountsasperthe government’suniform standards)73,174,992.52-
Capitaloccupationchargeson non-financialenterprisesthat arechargedtocurrentprofitor loss112,701,958.95-
Gainorlossonfair-value changesinheld-for-trading financialassetsandliabilities &incomefromdisposalof held-for-tradingfinancial assetsandliabilitiesand available-for-salefinancial assets(exclusiveofthe effectiveportionofhedges thatariseintheCompany’s ordinarycourseofbusiness)-38,026,112.58-
Reversedportionsof impairmentallowancesfor receivableswhicharetested individuallyforimpairment3,794,522.98-
Non-operatingincomeand expenseotherthantheabove207,606.81-
Less:Incometaxeffects21,936,823.86-
Non-controllinginterests effects(netoftax)66,809,120.74-
Total61,312,079.02 
ExplanationofwhytheCompanyreclassifiesrecurrentgain/lossasanexceptionalgain/lossitemdefinedorlistedintheExplanatoryAnnouncementNo.1onInformationDisclosureforCompaniesOfferingTheirSecuritiestothePublic—ExceptionalGain/LossItems:□Applicable√Notapplicable
NosuchcasesfortheReportingPeriod.
PartIIIManagementDiscussionandAnalysis
I.PrincipalactivitiesoftheCompanyduringthereportingperiod
1、Principalactivitiesandbusinessmodels
TheCompanyisprincipallyengagedinthecargohandlingandwarehousing,bondedlogisticsoperations and ancillary port-related services. The cargo handling and warehousing businessincludescontainersandbulkcargos,withacomprehensiveportnetworkacrossthehublocationsalongcoastalChina,andtheterminalswhichtheCompanyinvestedinorinvestedinandmanagedarelocatedinhublocationsacrossHongKong,Taiwan,Shenzhen,Ningbo,Shanghai,Qingdao,Tianjin,Dalian,Zhangzhou,Zhanjiang,andShantou,aswellasinAsia,Africa,Europe,Oceania,SouthandNorthAmerica,amongstothers.Thebondedlogisticsoperationsmainlyincludetheprovisionofwarehousingleasing,customsclearance,divisionormergerofcargoes,documentationandotherservicesforcustomersinShenzhenQianhaiwanBondedPortZone,QingdaoQianwanBondedPortZoneandTianjinDongjiangBondedPortZone.Theancillaryport-relatedservicesmainlyincludesmartportsolutions,anopenplatformforsmartports,smartporttechnologyoperationandotherportinformationtechnologybusinesses,aswellasportengineeringsupervisionandmanagementbusiness.
ThemainbusinesssegmentsoftheCompanyareasfollows:

Business segmentsApplicationsareas
Cargohandling andwarehousingContainerhandlingandwarehousing:theCompanyprovidesshipberthing,loadingand unloadingservicestoshipcompanies,offerscontainerstorageservicetoshipcompaniesand cargoownersandprovidesoverheadboxservicestotractorcompanies.TheCompanyalso engagesinthebusinessesofdivisionormergerofcargoesincontainers,containerleasingand containermaintenance; Bulkcargohandlingandwarehousing:theCompanyisengagedinbulkcargohandlingand transportationinportzones,aswellasstorageservicesinyards.Themajortypesofcargoes handledincludefood,steel,woodsandsandstones.
Bondedlogistics operationsTheCompanyprovidesvariousservicesforclients(includinglogisticscompanies,trading companiesorcargoowners),forexample,warehouse/yardleasing,loadingandunloadingin warehouses/yards,customsclearanceanddivisionormergerofcargoesatterminals.Italso providesdocumentationservicesfortractorsarrivingorleavingthebondedlogisticsparks.
Ancillaryport- relatedservicesTheancillaryport-relatedservicesmainlyincludesmartportsolutions,anopenplatformfor smartports,smartporttechnologyoperationandotherportinformationtechnologybusinesses, aswellasportengineeringsupervisionandmanagementbusiness.
2. Development stage and cyclical characteristic of the industry in which the Companyoperatesanditsindustrypositionduringthereportingperiod
(1)Externaleconomicenvironment
Inthefirsthalfof2022,factorssuchasrepeatedglobalCOVID-19outbreaks,frequent"blackswan"eventssuchastheRussia-Ukraineconflict,decliningconsumerdemandunderthepressureofglobal"stagflation",andincreasingdebtcrisesinemergingmarketshaveincreasedtheuncertaintyofglobalmacroeconomicsandtrades.Thepaceofglobaleconomicrecoveryhasbeenaffected.Theincreasinglyseveregeopoliticalriskshaveacceleratedtherestructuringoftheglobalsupplychainandindustrialchain,hinderingthegrowthoftradeincommoditiesandservices.Accordingtothe“WorldEconomicOutlook”reportpublishedbytheInternationalMonetaryFund(“IMF”)inJuly2022,theglobaleconomyin2022wasexpectedtoincreaseby3.2%,representingadecreaseof2.9percentagepointsyear-on-year.Forecastsfordevelopedeconomieshavebeenreviseddownandareexpectedtogrowby2.5%,representingadecreaseof2.7percentagepointsyear-on-year.Thegrowthoutlookforemergingmarketsanddevelopingeconomiesisbleak,andisexpectedtogrowby3.6%,representingadecreaseof3.2percentagepointsyear-on-year.Besides,accordingtotheforecastoftheWorldTradeOrganizationinApril2022,duetothedelayedoveralleconomicrecoveryresultingfromthemediumandlong-termimpactoftheRussia-Ukraineconflict,globaltradewouldincreaseby3%in2022,representingadecreaseof1.7percentagepointscomparedwiththepreviousforecast.
Inthefirsthalfof2022,China'smacro-economywillgenerallyachievesteadygrowth.AccordingtotheNationalBureauofStatisticsofChina,China’sGDPwasRMB56.26trillioninthefirsthalfof2022,representinganincreaseof2.5%year-on-yearatconstantprices.Undertheincreasinglycomplexandseveresituationofforeigntradedevelopment,Chinainsistsonmaintainingstabilityandseekingprogresswhilemaintainingstability.Theimplementationofapackageofpoliciesandmeasurestostabilizetheeconomyintroducedthisyearhasachievedinitialresults.Theresumptionofworkandproductionofenterpriseshasbeenfullyaccelerated,andforeigntradeisexpectedtocontinuetogrowsteadily.AccordingtothestatisticspublishedbytheGeneralAdministrationofCustomsofChina,thetotalvalueofforeigntradeofimportandexportofChinaamountedtoRMB19.8trillioninthefirsthalfof2022,representingayear-on-yearincreaseof9.4%,amongwhichtheexportvaluewasRMB11.14trillion,up13.2%year-on-year,andtheimportvaluewasRMB8.66trillion,up4.8%year-on-year.Theimportvalueoffsettheexportvalue,resultinginatradesurplusofRMB2.48trillion.
(2)Marketenvironmentoftheportandshippingindustry
Inthefirsthalfof2022,asthesupplychainimbalanceandportcongestionintheshippingmarketandotherphasedproblemswerealleviated,alargenumberofshipbuildingordersweredeliveredonschedule,unleashingtheglobalsupplyofeffectiveshippingcapacity.Meanwhile,theCOVID-19pandemicandtheRussia-Ukraineconflicthaveledtoaslowdowninglobaleconomicgrowthandinflation,soaringglobaldebtlevels,andasignificantdeclineinconsumerdemand.Besides,UnitedStatesandEuropeancountriesstillhadlargenumberofinventoriesorderedlastyear,resultinginareductionintheirdemandsforprocurementthisyear,aswellasthedemandintheportandshippingindustry,andthefreightrateintheinternationalmarketkeptgoingdown.AccordingtotheDrewryWorldContainerIndex,asof30June,thefreightrateindexwas7066.03points,representingadecreaseof15.87%year-on-year.
Slowingglobaleconomicgrowth,recurrenceofthepandemic,congestioninsupplychainandotherfactorshaveledtoaslowdowninthegrowthoftheglobalportindustryinthefirsthalfof2022.Domestically,thesmoothandefficientwaterwaysofkeyportsacrossthecountryoperatedinastableandorderlymanner,andkeyindicatorsmaintaineditsupwardtrendwhileensuringstability.AccordingtothestatisticspublishedbytheMinistryofTransport,theaccumulatedcargovolumehandledbyChineseportsreached7,580.79milliontonnesfromJanuarytoJune2022,representingadecreaseof0.8%year-on-year,andtheaccumulatedcontainerthroughputhandledreached142.31millionTEUs,representinganincreaseof3%year-on-year.Amongwhich,coastalportshandledanaccumulatedcargovolumeof4,967.09milliontonnes,representinganincreaseof0.1%year-on-year, while the accumulated container throughput was 125.62 million TEUs, representing anincreaseof3%year-on-year.
(3)TheCompany’sindustryposition
Theportindustryisacrucialfoundationofnationaleconomyandsocialprogress,andiscloselylinkedtoglobaleconomicandtradedevelopment.TheCompanyisthegloballeadingportinvestor,developerandoperator,withacomprehensiveportnetworkatmajorhublocationsalongcoastalChina.IthasalsoestablishedpresenceinAsia,Africa,Europe,Oceania,SouthandNorthAmerica.Upholdinganenterprising,steadyandefficientoperatingstyle,theCompanycapitalisesonitsglobal port portfolio, professional management experience, the self-developed state-of-the-artterminaloperationsystemandintegratedlogisticsmanagementplatformforexportsandimports,therebyprovidingitscustomerswithtimelyandefficientportandmaritimelogisticsservicesalongwithcomprehensiveandmodernintegratedlogisticssolutions.In addition,theCompanyalsoinvestsinbondedlogisticsbusinessandlaunchesintegratedparkdevelopmentbusiness,promotesthetransformationandupgradeoftheportindustry,developsportsupportingindustries,andiscommittedtoimprovingtheindustrialefficiencyandcreatinggreatervaluethroughthesynergywithinexistingterminalnetwork.
II.Corecompetitivenessanalysis
1.SoundshareholderbackgroundandresourceintegrationcapabilityCMG,thedefactocontrolleroftheCompany,wasestablishedin1872,150yearsago.It’stheEstablishedin1872,whichis150yearsago,CMG,theeffectivecontrolleroftheCompany,isforerunnerofChina’sindustrialandcommercialsectorswithexcellentresourceintegrationcapabilities and strong brand power. It is a key state-owned enterprise under the directadministrationofthePRCcentralgovernment.HeadquarteredinHongKong,CMGisanintegratedenterprisewithdiversifiedbusinessesandoneofthefourmajorChineseenterprisesinHongKong.Currently,itmainlyfocussesonthreecoreindustries,namelytransportation&logistics,integratedfinanceandcomprehensivedevelopmentofcitiesandindustrialzones.Inrecentyears,ithassuccessivelyrealizedthetransformationfromthesethreeprimaryindustriestothethreemajorplatformsofindustrialmanagement,financialservices,investmentandcapitaloperation,andalsobegantodeployitsfootprintinbighealth,testingandothersectors.CMGhasbeenratedasaGradeAenterpriseintheOperatingResultsAssessmentoftheState-ownedAssetsSupervisionandAdministrationCommissionoftheStateCouncilfor18consecutiveyears,andisacentralstate-ownedenterprisethatownstwoFortune500companies.Asattheendof2021,thetotalassetsofCMGwereRMB11.5trillion,representinganincreaseof14.6%year-on-year,andCMGwasrankedfirstamongstate-ownedenterprisesintermsofgrossprofit,netprofitandtotalassets.Beingacrucialplayerandfacilitatorofthenational“BeltandRoad” initiative,CMGhasacceleratedinternationaldevelopmentandpreliminarilyformedarelativelycompletenetworkofoverseasport,logistics,financeandparkbusiness.ByvirtueofthesoundshareholderbackgroundandampledomesticandoverseasresourcesofCMG,itstrivestocreateaglobalportinvestmentandoperationplatformwithinternationalvisionandglobalexpansioncapabilitiesaswellasaninterconnectedinternationalportcomprehensiveservicesystem,withaviewtobeingaworld-classcomprehensive port service provider and standing out from peers in the intensified globalcompetition.
2.Well-balancedglobalportnetworkdistributioncapability
AsanimportantcarrierfordomesticandoverseasportinvestmentandoperationofCMG,theCompanycontinuestoconductin-depthresearchonthecurrentdevelopmentsituationandtrendsoftheglobalindustrialchainandsupplychain,followsthedevelopmenttrendandpatternoftheglobaltradeandindustry,seizesthesignificantnationalstrategicopportunitiesarisingfromthe“BeltandRoad” initiative,theconstructionoftheGuangdong-HongKong-MacaoGreaterBayArea,theintegrationoftheYangtzeRiverDeltaandthebuildingofanationalunifiedmarket,continuallyoptimizes the global port network, and properly invests in hub and gateways of strategicsignificancearoundtheworld.
Inrecentyears,throughmergers,acquisitions,restructuration,renovationofoldports,andbuildingofnewports,theCompanyhasgraduallybuiltamodernportecosystemwithglobalcoverage,furthering enhancing the value of the port industry and pushing forward balanced regionaldevelopment.Afteryearsofoverseasdevelopment,CMPorthasformedaglobalbusinesslayout.Itsportnetworkcomprises50portswhicharelocatedin25countriesandregionsonsixcontinents.Adheringtotheprincipleof“extensiveconsultation,jointdevelopmentandsharedbenefits”,CMPorthasdevelopedlocal-basedbusinessoperationandformedacommunityofsharedfuturewithcountriesandregionsalongthe“BeltandRoad”initiative,expandeditsnewinternationalcooperationbasedontheconsolidationofconnectivityandcooperation,forgedaheadtogethertowardthehigh-qualitydevelopment.CMPorthasarrangeditsportnetworkproportionatelyindifferentareas,optimizeditsportbusinessandinvestmentportfolio,andbalanceditsinvestmentportfoliowithinthelifecycleofports,whichhasenhanceditscapabilitiesofresistingrisksofindustryfluctuations,tradefictionsandunexpectedeventstoalargerextent.3.ConsistentlyoptimizedsupplychaincomprehensiveservicecapabilityWiththeoverarchingobjectiveofbecomingahigh-qualityandworld-classcomprehensiveportserviceprovider,theCompanykeepsoptimizingsupplychaincomprehensiveservicecapabilityfrommultipleperspectives.First,inrespectoftheadvancedcomprehensivedevelopmentcapability,takingportbusinessasthecoreandleveragingthesynergyofdifferentportzonesaswellascity-industryintegration,theCompanycontinuallyexploresthecomprehensiveportdevelopmentmodelof“Port-Park-City”.Basedonthetraditionalloadinganddischargingandancillaryservicesatports,itestablishedthecomprehensivedevelopmentmodelthatofferedhighvalue-addedservicesto enterprises. Currently, theCompany has participated in promoting the comprehensive portdevelopmentmodelof“Port-Park-City”invariousoverseasregionsandhasachievedremarkableresultsandhelpedfosternewprofitgrowthpointsfortheCompany.Secondly,inrespectofmoderncomprehensivelogisticsservicecapability,theCompanyaimsatincreasingitsglobalpresencewithshippingroutesacrossfivecontinents.Asboththeshippingandportsectorsgraduallyshiftedtoformalliances,theCompanyisactivelyintegratingitsdomesticandoverseasportassetsandcapitalisesonitsrelativelycompleteglobalportnetworktoprovidecustomerswithcomprehensiveportlogisticsservicesolutions,formingitsuniquecompetitivestrength.TheCompanyactivelypromotesthe“coordinatedportframework”withtheWestShenzhenPortZoneasitscoreandawidereachthatspreadstoChuKongRiverportgroup,inordertobuildcombinedtransportchannelsintheGuangdong-HongKong-MacaoGreaterBayArea,andrealizethefreetradeofforeigngoodsinportgroupintheGuangdong-HongKong-MacaoGreaterBayArea.Inthefirsthalfofthisyear,theCompanyopened20complexports.Theaccumulatedcontainerthroughputof103,000TEUswerehandledbycomplexportsintheGuangdong-HongKong-MacaoGreaterBayArea,representingayear-on-yearincreaseof5.2timesandaccountingfor91.4%ofthetotalcontainerthroughputhandledthroughthecoordinatedportframeworklastyear,whichfurtherhelpedsmooththelogisticschainandstabilizetheindustrialchainandsupplychain.Thecomplexportsmodelimproveslogisticsefficiencyandreduceslogisticscosts.Theaveragetransferperiodforcontainersimportedandexportedthroughwaterwaytransporthasbeenreducedfromfivetosevendaystotwodays,withitsefficiencyimprovedby60%andapproximately30%ofdeclarationchargessavedforcargoowners.TheCompanyensuresthesafe,orderlyandsmoothflowofcommodityelementresourcesbothathomeandabroadthroughservingdomesticandoverseastradebusiness,demonstratingitsfullparticipationin andfulfilmentofChina’snewdevelopmentpattern,withthedomesticeconomiccycleasthemainstayandthedomesticandinternationaleconomiccyclesboostingeachother.
4.Self-innovativeintelligentportconstructioncapability
Toprovidestrongsupportforleadingthetechnologicalinnovationandindustrialapplicationofnewintelligentport,theCompanyactivelyseizedthedevelopmentopportunityinthewaveofnewtechnologies, and promoted the digitalization transformation and intelligent upgrade of portsthrough“CMChip”and“CMePort”.“CMChip”istheadvancedportoperationsystemself-developedbyCMIT,ahigh-techenterpriseundertheCompany,includingCTOS(ContainerTerminalOperationSystem),BTOS(BulkCargoTerminalOperationSystem),andLPOS(LogisticPark Operation System), with a view to realizing the digitization and intellectualization ofproductionandoperation.Currently,seriesproductsof“CMChip”havebeenfullyappliedindomestic and overseas terminals that the Company mainly controls, which comprehensivelyenhancesthecorecompetitivenessofmodernports.BasedontheCompany’sglobalportnetwork,“CMePort” isadigitalizedcomprehensiveserviceecologyplatformfacingthewholeportshippinglogisticsindustryand integratingport,shipping, logisticsand third-partyecommerceplatform.Itprovidesservicessuchasintelligentlogistics,intelligentportaswellasintelligentfinance and business, promotes construction of intelligent port ecology circle, facilitatestransactionsbetweenlogistics-relatedpartiesthroughtheplatformformoreefficiency,anddeliversinnovativeportservicesunderanadvancedbusinessmodel.
Focusingonninemajorintelligentelements,namely“CMChip,CMePort,automation,intelligentports,5Gnetworkapplication,blockchain,Beidousystem,artificialintelligence,andgreenandlow-carbondevelopment”,theCompanyactivelypromotesintelligentportconstructionandbuilds“MawanSmartPort”,thefirst5Ggreenandlow-carbonintelligentportintheGuangdong-HongKong-MacaoGreaterBayArea.MawanSmartPortisequippedwith385Gunmannedcontainertrucksforpracticaloperations,provingitselftobethelargestunmannedcontainertruckfleetinasingleterminalnationwideorevenworldwide,andthefirstdemonstrationzoneof"5G+unmanneddriveapplication"inChina.The“CMChip”operationsystemself-developedbytheCompanybrokethepreviousdominanceofforeignsoftwareterminalproductionmanagementsystems,andhas been successfully promoted and applied in domestic and foreign terminals, achieving abreakthroughinthenationalportsystem.Currently,MawanSmartPorthasbecomeabenchmarkfor the transformation of traditional terminals to efficient, safe, green and unmanned smartterminals,embarkingonanewvoyagetowardpowerfulportoftechnologyandformingintelligentportcomprehensivesolutionswith“CMCharacteristics”.SincetheoperationofMawanSmartPort,therehavebeen3,710in-and-outportships,withathroughoutreaching1millionTEUsand28newshippingroutes.
5.Soundandefficientportmanagementcapability
Adheringtotheproactive,soundandefficientoperatingstyleandbenefitingfromitsglobalportassetsandresourcesportfolio,theCompanyiscommittedtoprovidingcustomerswithtimelyandefficientportandmaritimelogisticsservicesaswellasprofessionalandfirst-classsolutions,andhasbecomethepreferredpartnerforcustomersandanimportantgatewayforthecountry’sforeigntrade,therebymakingduecontributionstothecountry’sforeigntradedevelopment.Atthesametime,theCompanyalsomadeanextensiveinvestmentinbondedlogisticsbusinesstoexpanditsportvaluechainandenhanceindustrialvalue.Takingadvantagesofthesynergyofitsexistingterminalnetwork,theCompanycreatedvaluesforbothitscustomersandshareholders.TheCompanyhasearneditselfgoodreputationacrosstheindustrybyitsprofessionalmanagementexperienceaccumulatedforyears,itsself-developedgloballeadingterminaloperatingsystemandintegratedlogisticsmanagementplatformforimportandexport,itsextensivemaritimelogisticssupport system with all-rounded modern integrated logistics solutions, and its high-qualityengineeringmanagementandreliableserviceofferings.
III.Corebusinessanalysis
1.Portbusinessreview
(1)Overviewofportbusiness
Inthefirsthalfof2022,theCompany sportshandledatotalcontainerthroughputof66.777’
millionTEUs,down0.7%year-on-year.BulkcargovolumehandledbytheCompany’sportsdecreasedby5.2%year-on-yearto292milliontonnes,whichwasmainlyduetotheimpactofthepandemic.Forcontainerbusiness,theCompany’sportsinMainlandChinahandledacontainerthroughputof46.289millionTEUs,representingayear-on-yeardecreaseof1.1%,portsinHongKong and Taiwan regions contributed a total container throughput of 3.597 million TEUs,representingayear-on-yeardecreaseof4.5%,andthetotalcontainerthroughputhandledbytheCompany’soverseasportsgrewby1.6%year-on-yearto16.891millionTEUs.Intermsofbulkcargobusiness,theCompany’sportsinMainlandChinahandledabulkcargovolumeof289milliontonnes,down5.2%year-on-year,andoverseasportshandledabulkcargovolumeof3.21milliontonnes,down7.6%year-on-year.
Table3-1ThroughputoftheCompanyandchangesin1H2022

Item1H20221H2021Changes
Containerthroughput(’0,000 TEU)6,677.76,721.7-0.7%
Amongwhich:MainlandChina4,628.94,681.7-1.1%
HongKongandTaiwan359.7376.7-4.5%
Overseas1,689.11,663.31.6%
Bulkcargothroughput(’0,000 tonnes)29,243.730,857.7-5.2%
Amongwhich:MainlandChina28,922.730,510.4-5.2%
Overseas321.0347.3-7.6%
Note:1.Thestatisticsrepresentedthetotalthroughputoftheholdingsubsidiaries,associatesandjointventuresof
theCompany;2.DalianPortCo.,Ltd.,thejointstockcompany,wasgenerallychangedtoLiaoningPortCo.,LtdduetothemergerofYingkouPortCo.,Ltd.byitthroughconversionandabsorption.Assuch,theCompanyhasbeenincludingthebusinessvolumeofYingkouPortCo.,LtdsinceFebruary2021.(2)Operationconditionofportbusinessbyregion
Table3-2ContainerthroughputoftheCompanyandchangesin1H2022(in’0,000TEU)
Regionandportcompany  1H20221H2021Changes
PearlRiver DeltaHolding companyWestShenzhenPort Zone647.9649.6-0.3%
  ShundeNewPort21.022.2-5.4%
 Joint stock companyChuKongRiver TradeTerminal42.354.7-22.7%
YangtzeRiver DeltaJoint stock companySIPGGroup2,254.62,293.9-1.7%
 Holding companyNingboDaxie172.7169.71.8%
BohaiRimJoint stock companyTianjinPort ContainerTerminal431.9446.6-3.3%
  QQCTU443.2418.45.9%
  LiaoningPortCo., Ltd.468.5464.50.9%
South-East regionof Mainland ChinaHoldingZhangzhouPort13.611.914.3%
  ShantouPort74.492.3-19.4%
South-West regionof Mainland ChinaHoldingZhanjiangPort58.957.81.9%
HongKong andTaiwanHolding company /Joint stock companyCMCS/Modern Terminals250.1281.7-11.2%
 Joint stock companyTaiwanKaoMing Container109.695.015.4%
OverseasHolding companyCICT161.7150.17.7%
  TCP56.253.94.3%
  LCT71.673.2-2.2%
 Joint stock companyTL1,294.41,274.41.6%
  Kumport61.361.8-0.8%
  PDSA30.335.1-13.7%
  TICT13.614.7-7.5%
Total6,677.76,721.7-0.7%  
Note:1.SinceApril2020,theCompanyhasnewlyincludedthebusinessvolumeofeightnewterminalsacquiredbyTL,ajointstockcompanyoftheCompany;2.DalianPortCo.,Ltd.,thejointstockcompany,wasgenerallychangedtoLiaoningPortCo.,LtdduetothemergerofYingkouPortCo.,Ltd.byitthroughconversionandabsorption.Assuch,theCompanyhasbeenincludingthebusinessvolumeofYingkouPortCo.,LtdsinceFebruary2021.Table3-3BulkcargovolumehandledbytheCompanyandchangesin1H2022(in’0,000tonnes)
Regionandportcompany  1H20221H2021Changes
PearlRiver DeltaHolding companyWestShenzhenPort Zone810.8819.1-1.0%
  DongguanMachong839.7789.06.4%
  ShundeNewPort291.6259.512.4%
 Jointstock companyChuKongRiver TradeTerminal183.1141.529.4%
YangtzeRiver DeltaJointstock companySIPGGroup3,011.44,464.3-32.5%
BohaiRimJoint stock companyQQTU863.1915.9-5.8%
  QingdaoPort Dongjiakou3,865.63,372.714.6%
  LiaoningPortCo., Ltd.12,761.612,972.9-1.6%
  LaizhouHarbour Affairs1,071.51,243.6-13.8%
South-East regionof Mainland ChinaHolding companyZhangzhouPort439.2431.21.9%
  XiaMenBay Terminals321.8238.834.8%
  ShantouPort151.3162.0-6.6%
South-West regionof Mainland ChinaHolding companyZhanjiangPort4,311.84,699.8-8.3%
OverseasHolding companyHIPG79.279.3-0.2%
 Joint stock companyKumport3.88.3-54.3%
  PDSA238.0259.7-8.3%
Overseas29,243.730,857.7-5.2%  
Note:1.HIPGhasincludedliquidbulkcargointhestatisticsofitsbusinessvolumesince2020;2.DalianPortCo.,Ltd.,thejointstockcompany,wasgenerallychangedtoLiaoningPortCo.,LtdduetothemergerofYingkouPortCo.,Ltd.byitthroughconversionandabsorption.Assuch,theCompanyhasbeenincludingthebusinessvolumeofYingkouPortCo.,Ltd.sinceFebruary2021.
TheWestShenzhenPortZonehandledacontainerthroughputof6.479millionTEUs,down0.3%year-on-year,andabulkcargovolumeof8.108milliontonnes,down1.0%year-on-year.ShundeNewPorthandledacontainerthroughputof0.210millionTEUs,down5.4%year-on-year,andabulkcargovolumeof2.916milliontonnes,up12.4%year-on-year,mainlybenefitingfromtheincreaseofsteeldemandandhigherbusinessvolumeofnewcustomers.DongguanMachonghandledabulkcargovolumeof8.397milliontonnes,representinganincreaseof6.4%year-on-year,mainlyduetotheincreasingimportsdrivenbyraisingdemandfromgrain-foragemarket.ChuKongRiverTradeTerminalhandledatotalofcontainerthroughputof0.423millionTEUs,down22.7%year-on-year,whichwasmainlyduetothevolatilityonbusinessvolumeoftheterminalinflictedbyCOVID-19pandemic.Italsohandledabulkcargovolumeof1.831milliontonnes,up29.4%year-on-year,mainlyduetotheadjustmenttobusinessstructure.(未完)
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