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Annual Report 年報 2015 Contents Annual Report 年報 2015 Contents General Information on the Company 2 Chairman’s Statement 8 Financial Highlights 10 Management Discussion and Analysis 11 Directors’ Report 48 Corporate Governance Report 60 Profiles of Directors, Supervisors and Senior Management 72 Independent Auditor’s Report 76 Consolidated Balance Sheet 77 Consolidated Income Statement 79 Consolidated Cash Flows Statement 80 Consolidated Statement of Changes in Shareholders’ Equity 82 Company Balance Sheet 83 Company Income Statement 85 Company Cash Flow Statement 86 Company Statement of Changes in Shareholders’ Equity 88 Notes to the Financial Statements 89 Supplementary Information to the Financial Statements 228 Financial Highlights for the Past Five Financial Years 230 General Information on the Company 1) Company Profile Dalian Port (PDA) Company Limited (the “Company”) was established in Dalian City, Liaoning Province, the People’s Republic of China (the “PRC”) on 16 November 2005. The Company was successfully listed on the Main Board of the Stock Exchange of Hong Kong Limited with stock code of 2880 and Shanghai Stock Exchange with stock code of 601880 on 28 April 2006 and 6 December 2010, respectively. The Company is the first port company listed in both the stock exchanges of Hong Kong and Shanghai. Located at the entrance of Bohai Bay, with its proximity to major international shipping routes as compared to other ports in Bohai Bay and with deep water and ice-free port conditions, Dalian port is able to operate its terminals throughout the year. As the consolidated operational platform for port and logistics services in Dalian port, the Company and its subsidiaries (collectively, the “Group”) are the biggest comprehensive port operator in the Three Northeastern Provinces of China (collectively, Heilongjiang Province, Jilin Province and Liaoning Province). The Group is principally engaged in the following businesses: 1) oil/liquefied chemicals terminal and related logistics services; 2) container terminal and related logistics services; 3) automobile terminal and related logistics and trading services; 4) ore terminal and related logistics services; 5) general cargo terminal and related logistics and trading services; 6) bulk grain terminal and related logistics and trading services; 7) passenger and roll-on, roll-off terminal and related logistics services; and 8) port value-added services and ancillary port operations. In terms of oil/liquefied chemicals terminal and related logistics services, the Group is the first terminal operator approved by the Ministry of Communications of the PRC to provide transshipment services of imported crude oil for petrochemical enterprises in Dalian and Bohai rim. The Group has two 300,000dwt crude oil terminals (one of which can accommodate 450,000dwt crude oil vessels), the largest oil storage base in China, integrated multimodal transportation system comprising various transportation means such as water, road, railway and pipelines. The Group is an important oil/liquefied storage, transportation and distribution center in the Three Northeastern Provinces. In terms of container terminal and related logistics services, the Group’s container terminals can accommodate the container vessels with a loading capacity of 150,000dwt. The shipping routes connected with the Group’s container terminals cover more than 100 major domestic and overseas ports. The Group has well established sea-to-rail intermodal transportation network and Bohai Rim feeder transshipment network. The Group’s container volume of sea-to-rail intermodal transportation is in the leading position among all ports in mainland China. The Group maintains its leading position in the industry of container transportation for foreign trade in northeastern China. The rapid growth of domestic trade is a strong driving force for the development of the Group’s container business for domestic trade. In terms of automobile terminal and related logistics and trading services, Dalian port is one of the five automobile ports approved by the Chinese government to provide automobile import business. The Group’s automobile terminal can accommodate the largest Ro-Ro vessels in the world. Benefited from the rapid growth of automobile production and sales in China and the revitalization of the automobile manufacturing base in the Three Northeastern Provinces and Dalian, the Group’s automobile terminal business has been growing rapidly. 02 Dalian Port (PDA) Company Limited • Annual Report 2015 General Information on the Company In terms of ore terminal and related logistics services, the Group has two designated berths with the functions of sea transshipment and bonded distribution. The Group’s ore terminal has obtained the approval to accommodate up to 350,000dwt vessels and its overall efficiency ranked the top among ports in mainland China. The Group has completed the reconstruction of ore terminal facilities in order to meet the requirements of berthing large-sized vessels. With the trend that more and more large-sized vessels will be put into operation, the Group will leverage on more advantages on its strategic location at the entrance of Bohai bay and nature condition of deep water. In terms of general cargo terminal and related logistics and trading services, the Group is principally engaged in the provision of loading, discharging and logistics services for dry bulk cargoes including steel, coal and large equipments, and aims to develop as the transshipment base for fine steel, coal and equipments. The Group has expanded its general cargo terminal and related logistics businesses to Changxing Island and Zhuanghe area. These two areas, with important strategic locations, have strong driving force for future development. In terms of bulk grain terminal and related logistics and trading services, the Group, as the most competitive grain transshipment center in the Northeastern, has established a comprehensive logistics operation system and fulfilled the transformation from traditional loading and discharging services provider to modern logistics services provider. The growth of grain transportation in the Three Northeastern Provinces of China will accelerate the volume increase of the Group’s dry grain terminal and related logistics business. In terms of passenger and roll-on, roll-off terminal and related logistics services, the Group’s passenger and roll- on, roll-off terminal is located at the north end of Golden Waterway in Bohai bay and the Group has long been in a leading position among the ports in China in terms of its business scale. The Group has gradually been consolidating the passenger and roll-on, roll-off businesses in Dalian port so as to expand its business scale and develop as a major passenger and roll-on, roll-off terminal in Bohai rim. In terms of port value-added and ancillary port operations, the Group provides services such as tugging, tallying, IT, port logistics, construction management and supervision services, and power supply. The Group has a leading tugboat fleet among the ports in China. The advanced port IT operational system, consummate port multi-modal transportation system and complete port industrial chains provide crucial support for the Group to develop high- end logistics businesses. The Group intends to leverage on its favorable natural conditions and competitive strengths in operations and management to develop and expand its business. The Group will play an important role in developing Dalian into an international shipping center in Northeastern Asia and the development of Liaoning Coastal Economic Zone. The Group aims to develop into a pioneering port operator and comprehensive logistics service provider in Northeast Asia, with regional development potentials and international competitiveness. 2) General Information on the Group 1. Chinese name 大連港股份有限公司 Abbreviated Chinese name 大連港 English name Dalian Port (PDA) Company Limited Abbreviated English name Dalian Port 2. Legal representative Hui Kai 3. Contact person Joint Company Secretary/Secretary to Wang Jilu the Board of Directors Address: Room 2618, Xingang Commercial Building, Jingang Road, Dalian International Logistics Park Zone, Liaoning Province, the PRC Telephone: 86 411 87599899 Facsimile: 86 411 87599854 E-mail: [email protected] 03 General Information on the Company Joint Company Secretary/Qualified Accountant Mr. Lee, Kin Yu Arthur Address: Room 2618, Xingang Commercial Building, Jingang Road, Dalian International Logistics Park Zone, Liaoning Province, the PRC Telephone: 86 411 87599866 Facsimile: 86 411 87599854 E-mail: [email protected] 4. Registered office Xingang Commercial Building, Dayao Bay, Dalian Free Trade Zone, PRC Postal Code 116600 Place of Business and Postal Code in PRC Xingang Commercial Building, Jingang Road, Dalian International Logistics Park Zone, Liaoning Province, the PRC (116601) Place of Business in Hong Kong 36th Floor, Tower Two, Times Square, 1 Matheson Street, Causeway Bay, Hong Kong Company website www.dlport.cn Company e-mail [email protected] 5. Designated newspapers for information China Securities Daily, Shanghai Securities Daily, disclosure of the Company Securities Times, and Securities Daily Website designated by the China Securities www.sse.com.cn Regulatory Commission for publishing the A share annual reports Website for publishing the H share annual report www.hkexnews.hk Place for collection of annual report Room 2601, Xingang Commercial Building, Jingang Road, Dalian International Logistics Park Zone, Liaoning Province,
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