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INTERIM REPORT 2019 中期報告 for Identification Purpose Only * INTERIM REPORT 2019 Stock Code: 06198.HK 601298.SH CONTENTS

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2019 INTERIM REPORT INTERIM REPORT 2019 INTERIM REPORT 中期報告 Stock Code: 06198.HK 601298.SH * For identification purpose only CONTENTS Page 2 DEFINITIONS 5 COMPANY PROFILE 6 CORPORATE INFORMATION 8 MANAGEMENT DISCUSSION AND ANALYSIS 29 OTHER INFORMATION 36 CONSOLIDATED BALANCE SHEET (UNAUDITED) 39 COMPANY BALANCE SHEET (UNAUDITED) 41 CONSOLIDATED INCOME STATEMENT (UNAUDITED) 43 COMPANY INCOME STATEMENT (UNAUDITED) 44 CONSOLIDATED CASH FLOW STATEMENT (UNAUDITED) 46 COMPANY CASH FLOW STATEMENT (UNAUDITED) 48 CONSOLIDATED STATEMENT OF CHANGES IN SHAREHOLDERS’ EQUITY (UNAUDITED) 50 COMPANY STATEMENT OF CHANGES IN SHAREHOLDERS’ EQUITY (UNAUDITED) 52 NOTES TO THE FINANCIAL STATEMENTS (UNAUDITED) 232 SUPPLEMENTARY INFORMATION TO THE FINANCIAL STATEMENTS DEFINITIONS The following expressions have the meanings set out below unless the context requires otherwise: “Board” the board of directors of the Company “CFS” container freight station, of which, container freight station at loading ports refers to the location designated by carriers for the receiving of cargo to be loaded into containers by the carrier, while container freight station at discharge or destination ports refers to the location designated by carriers for de-vanning of containerized cargo “Company” Qingdao Port International Co., Ltd. (青島港國際股份有限公司), a joint stock company established in the PRC with limited liability on 15 November 2013 “Consolidated Group companies (including their branches) and their subsidiaries which are consolidated into Companies” in the consolidated financial statements of the Company “Corporate Governance Code” the Corporate Governance Code and Corporate Governance Report as set out in Appendix 14 to the Hong Kong Listing Rules “Director(s)” the director(s) of the Company “Domestic Shares” the ordinary domestic share(s) of the Company with a nominal value of RMB1.00 each in the share capital of the Company “Global Offering of H Shares” the offer for subscription of the Company’s H shares in 2014 “Gratuitous Transfer the Gratuitous Transfer Agreement of the Equity Interests in Qingdao Port (Group) Agreement” Co., Ltd. among Shandong Port Group Co., Ltd., the State-owned Assets Supervision & Administration Commission of Qingdao Municipal Government, and the State-owned Assets Supervision & Administration Commission of Weihai Municipal Government 《山( 東省港口集團有限公司與青島市人民政府國有資產監督管理委員會及威海市人民政府國有 資產監督管理委員會關於青島港（集團）有限公司之股權無償劃轉協議》) dated 22 August 2019 “Group”, “we”, “our” or “us” the Company and its branches and subsidiaries; when references are made to operational data such as throughput, including joint ventures and associates of the Company “Haiwan Liquid Chemical” Qingdao Haiwan Liquid Chemical Port Operation Co., Ltd. (青島海灣液體化工港務有 限公司), a joint venture in which the Company holds 50% equity interests, which is mainly engaged in the business of providing liquid bulk handling and ancillary services “Hong Kong” the Hong Kong Special Administrative Region of the PRC “Hong Kong Stock Exchange” The Stock Exchange of Hong Kong Limited INTERIM REPORT 2019 2 DEFINITIONS “Hong Kong Listing Rules” the Rules Governing the Listing of Securities on The Stock Exchange of Hong Kong Limited “Model Code” the Model Code for Securities Transactions by Directors of Listed Issuers as set out in Appendix 10 to the Hong Kong Listing Rules “New H Shares Placing” the issue of the 243,000,000 new H shares of the Company by way of placing pursuant to the specific mandate granted by the 2017 first extraordinary general meeting, the 2017 first domestic shareholders’ class meeting and 2017 first H shareholders’ class meeting of the Company held on 10 March 2017 “OBOR” the Silk Road Economic Belt (絲綢之路經濟帶) and 21st Century Maritime Silk Road (21 世紀海上絲綢之路) “PRC” or “China” the People’s Republic of China, and for the purpose of this report, excluding Hong Kong, Macau and Taiwan “Prospectus” the listing document of the Company in relation to the global offering dated 26 May 2014 “QDOT” Qingdao Port Dongjiakou Ore Terminal Co., Ltd. (青島港董家口礦石碼頭有限公司), a joint venture in which the Company holds 30% equity interests, which is mainly engaged in the business of providing ore, coal and other cargo handling and ancillary services “QDP” Qingdao Port (Group) Co., Ltd. (青島港（集團）有限公司), the controlling shareholder of the Company “Qingdao Finance” Qingdao Port Finance Co., Ltd. (青島港財務有限責任公司), a subsidiary jointly established by the Company (holding 70% equity interests) and QDP (holding 30% equity interests), which is mainly engaged in the provision of depository services, credit granting services, financial and financing advisory services, credit assurance services and relevant consulting and agency services; trade receivables collection and payment services; and internal fund transfer and settlement services formulation of proposals for the corresponding settlement and clearing services and other financial services to QDP and its member companies “Qingdao Port Logistics” Qingdao Port International Logistics Co., Ltd. (青島港國際物流有限公司), a wholly- owned subsidiary of the Company, which is mainly engaged in the business of logistics value-added services, such as transportation, agency and warehousing services “Qingdao SASAC” the State-owned Assets Supervision & Administration Commission of Qingdao Municipal Government (青島市人民政府國有資產監督管理委員會) 3 QINGDAO PORT INTERNATIONAL CO., LTD. DEFINITIONS “Qingdao Shihua” Qingdao Shihua Crude Oil Terminal Co., Ltd. (青島實華原油碼頭有限公司), a joint venture in which the Company holds 50% equity interests, which is mainly engaged in the business of providing liquid bulk handling and ancillary services “Qingwei Container” Weihai Qingwei Container Terminal Co., Ltd. (威海青威集裝箱碼頭有限公司), a joint venture in which the Company holds 49% equity interests, which is mainly engaged in the business of providing container handling and ancillary services “QQCT” Qingdao Qianwan Container Terminal Co., Ltd. (青島前灣集裝箱碼頭有限責任公司), a joint venture in which the Company holds 51% equity interests (it is not consolidated into consolidated financial statements of the Company as the Company does not have control over it), which is mainly engaged in the business of providing container handling and ancillary services “Shandong Port Group” Shandong Port Group Co., Ltd. (山東省港口集團有限公司) “Supervisor(s)” the supervisor(s) of the Company “TEU” an abbreviation of Twenty-Foot Equivalent Unit, an international measuring unit with the standard a container with a length of 20 feet, a width of 8 feet and a height of 8 feet and 6 inches, also known as the international unit of standard container “West United” Qingdao Qianwan West Port United Terminal Co., Ltd. (青島前灣西港聯合碼頭有限 責任公司), a joint venture in which the Company holds 51% equity interests (it is not consolidated into consolidated financial statements of the Company as the Company does not have control over it), and which is mainly engaged in the business of providing dry bulk cargo and break bulk cargo handling and ancillary services “New Lease Standards” the CAS 21 – Lease in the Notice of the Ministry of Finance on Issuing the revised CAS 21 – Lease (Cai Kuai [2018] No. 35) 《關於修訂印發( <企業會計準則第21號－租賃>的通 知》) (財 會〔 2018〕35號) issued by the Ministry of Finance of the PRC on 7 December 2018 * The Chinese name(s) of the PRC entities have been translated into English in this interim report for reference only. In the event of any discrepancies between the Chinese names of the PRC entities and their respective English translations, the Chinese version shall prevail. * Certain amounts and percentage figures included in this report have been subject to rounding. INTERIM REPORT 2019 4 COMPANY PROFILE The Port of Qingdao commenced operations in 1892 and is one of the largest comprehensive ports in the world. It occupies a central position among ports in Northeast Asia and is an important hub of international trade in the West Pacific. The Company was established on 15 November 2013. It was listed on the Main Board of the Hong Kong Stock Exchange on 6 June 2014 and was listed on the Main Board of the Shanghai Stock Exchange on 21 January 2019. The Group is the primary operator of the Port of Qingdao and operates four port areas in Qingdao, including Qingdao Qianwan Port Area, Huangdao Oil Port Area, Dongjiakou Port Area and Dagang Port Area. It is mainly engaged in the handling of different types of cargoes such as container, metal ore, coal and crude oil and the provision of ancillary services, logistics and port value-added services, port ancillary services and financial services. 5 QINGDAO PORT INTERNATIONAL CO., LTD. CORPORATE INFORMATION CHINESE NAME OF THE COMPANY TELEPHONE 青島港國際股份有限公司 86-532-82982011 ENGLISH NAME OF THE COMPANY FACSIMILE Qingdao Port International Co., Ltd. 86-532-82822878 LEGAL REPRESENTATIVE EMAIL Mr. LI Fengli [email protected] REGISTERED OFFICE AND PRINCIPAL WEBSITE PLACE OF BUSINESS IN HONG KONG http://www.qingdao-port.com (1) Headquarters in the PRC: No. 12 Jingba Road BOARD OF DIRECTORS Huangdao District, Qingdao Shandong Province, PRC (1) Executive Directors Mr. LI Fengli (Chairman) (2) Principal Place of Business in Hong Kong: Mr. ZHANG Jiangnan (President) 31/F, Tower Two, Times Square Ms. JIANG Chunfeng 1 Matheson Street, Causeway Bay Hong Kong (2) Non-executive Directors Mr. JIAO Guangjun (Vice chairman) DATES OF LISTING Mr. ZHANG Wei 6 June 2014 (H shares) Mr. CHU Xiaozhong 21 January 2019 (A shares) (3) Independent Non-executive Directors PLACES OF LISTING Ms. LI Yan Mr. JIANG Min Main Board of The Stock Exchange of Hong Kong Limited Mr. LAI Kwok
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