Summary of 2014 Annual Report of China Merchants Property Development Co., Ltd
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Summary of CMPD’s 2014 Annual Report Stock Code: 000024, 200024 Stock Short Names: China Merchants Property., China Merchants B Announcement No.: 【CMPD】2015-010 Summary of 2014 Annual Report of China Merchants Property Development Co., Ltd. I. Important Notice The Summary of Annual Report 2013 is originated from the full Annual Report 2013, so that investors who want to know the details should carefully read the full Annual Report 2013 simultaneously published in the websites such as Shenzhen stock exchange website and the like which are specified by China Securities Regulatory Commission (CSRC). Company Profile China Merchants Property, China Merchants Stock Short Name Stock Code 000024, 200024 B Listed Stock Exchange Shenzhen Stock Exchange Contact Person and Contact Way Secretary of the Board Securities Affair Representative Name Liu Ning Cheng Jiang No.3 Building, Nanhai E Cool Park, No.6 No.3 Building, Nanhai E Cool Park, No.6 Address Xinghua Road, Shekou Industrial Zone, Xinghua Road, Shekou Industrial Zone, Nanshan Nanshan District, Shenzhen District, Shenzhen Tel 0755-26819600 0755-26819600 Fax 0755-26818666 0755-26818666 Email [email protected] [email protected] II. Main accounting data and (I) Main accounting data Unit: RMB Yuan Increase or decrease of current year 2013 against Main Accounting Data 2014 2012 previous year After After adjustment Before adjustment adjustment Operating incomes 43,385,058,201.09 32,567,813,857.52 32,567,813,857.52 33.21 % 25,296,762,154.46 Net profits attributable to the listed company 4,263,636,555.36 4,190,374,825.04 4,202,152,074.18 1.75 % 3,318,266,875.59 shareholders Net profit attributable to shareholders of listed company after deducting 4,416,726,428.34 3,911,400,979.51 3,923,178,228.65 12.92 % 3,347,473,177.02 non-recurring profits and losses Net cash flows from -6,447,055,480.12 495,923,554.51 495,923,554.51 -1400.01 % 5,098,777,753.73 operating activities Summary of CMPD’s 2014 Annual Report Basic earning per share 1.66 1.63 2.45 1.75 % 1.29 (Yuan/share) Diluted earning per share 1.66 1.63 2.45 1.75 % 1.29 (Yuan/share) Decrease of 2 Rate of return of net assets 14.68 16.68 16.73 percentage 15.19 (%) points Increase or decrease compared End of 2013 with the end End of 2014 2012 of previous year After After adjustment Before adjustment adjustment Total assets 151,692,365,118.58 134,040,446,989.65 134,040,446,989.65 13.17 % 109,197,242,683.06 Net assets attributable to the 31,094,416,110.82 26,725,501,967.24 26,725,501,967.24 16.35 % 23,393,515,534.13 listed company shareholders 1. The Company restated the previous annual accounting data due to changes in accounting policies In this year, according to new requirements of accounting standard 2014, the Company has conducted retroactive adjustment to the 2013 annual financial statement; in 2013 balance sheet, undistributed profit of RMB 11,777,249.14 was reduced and capital reserve of RMB 11,777,249.14 was increased without impact on total assets; in 2013 profit statement, investment income and net profit of RMB 11,777,249.14 was reduced. During the reporting period, the Company has implemented the capitalization from capital public reserve plan. In accordance with Information Disclosure Memorandum No. 21 - Matters Related to the Disclosure of Periodic Reports by Shenzhen Stock Exchange, the Company has recalculated the earnings per share of 2012 and 2013 based on the increased stock after transfer. 3. During reporting period, the Company paid a lot of land price and infrastructure cost to strengthen land expansion due to development need. As the operating cash outflow during the reporting period outweighed the annual operating cash inflow, the net amount of cash flow generated from the operation is negative. 4. The YOY growth rate of basic earning per share and diluted earning per share is calculated based on the figures retaining all decimal. (II) Effect adjustment for net profit and net assets based on International Accounting Standards (unaudited) Unit: RMB Yuan Net profits attributable to the listed company Net assets attributable to the listed company shareholders shareholders 2014 2013 End of 2014 End of 2013 By International Financial 4,263,636,555.36 4,190,374,825.04 32,434,245,339.82 28,065,331,196.24 Reporting Standards By Chinese accounting 4,263,636,555.36 4,190,374,825.04 31,094,416,110.82 26,725,501,967.24 standard Difference between domestic and foreign - - 1,339,829,229.00 1,339,829,229.00 accounting standards Including: adjustment of - - 1,339,829,229.00 1,339,829,229.00 goodwill value There is no deviation of net profit of listing Company’s shareholders calculated as per International Financial Reporting Description of Deviation Standards and Chinese Accounting Standards. Main reasons for the adjustment of the net profit of listing Company’s between Domestic and shareholders subject to International Financial Reporting Standards are: in accordance with Chinese Accounting Foreign Accounting Standards and relevant regulations, for equity investment difference caused by business merger of the same control, the Standards capital reserve shall be adjusted, while the goodwill against merger caused by International Financial Reporting Standards shall be separately listed as assets. Summary of CMPD’s 2014 Annual Report (III) Items and amount of extraordinary profit or loss Unit: RMB Yuan Items of extraordinary profit or loss 2014 2013 2012 Losses and profits on disposal of non-current assets -3,997,255.04 256,255,563.72 -1,407,797.62 Government subsidies 43,659,552.98 33,800,048.66 16,352,111.12 Profit generated when the investment cost for acquisition subsidiary is smaller than the deserved fair value of identifiable net asset of the 11,630,003.67 invested company. Other profit or loss items recognized by CSRC -156,839,259.39 Other net non-operating revenue and expenditure -25,635,708.61 -3,883,513.02 -49,804,571.52 Influence of income tax -10,134,034.67 -7,253,985.40 2,766,668.96 Influence of minority shareholders’ profit or loss -143,168.25 -11,574,272.10 2,887,287.63 Total -153,089,872.98 278,973,845.53 -29,206,301.43 Note: the long-term equity investment after change in control of Shenzhen Overseas Chinese Town Co., Ltd. (OCT) by the Company is measured by fair value. The equity fair value is mainly inventory evaluation added value. In the year, based on the ratio of actual carry-forward inventory area in the total salable area of inventory to be carried forward on the date of control right change of OCT, the added value of long-term equity investment acknowledged by assessment added value subject to corresponding written off is RMB 156,839,259.39. Summary of CMPD’s 2014 Annual Report (IV) Top ten shareholders Number of shareholders at the end of the fifth Total number of shareholders at the 56,318 (A-shares: 45,827, B-shares: 82,925 (A-shares: 72,797, B-shares: transaction date before end of the reporting period 10,491) 10,128) disclosure of annual report Information of shares held by the top ten shareholders Pledged or frozen Quantity of shares Increase/decr Quantity of Nature of Sharehold Quantity of status held at the end of ease during held Name of shareholders the ing ratio restricted share this reporting this reporting un-restricted Sharehol shareholder (%) held period (%) period share ding Quantity status China Merchants Shekou Industrial State-owne 40.38 1,040,128,975 346,709,658 1,040,128,975 None None None Zone Co.,Ltd. d corporate Overseas Full Space Investment Limited 5.48 141,216,075 47,072,025 141,216,075 None None None corporate China Merchants Securities (HK) Overseas 2.92 75,205,077 25,317,793 73,863,367 1,341,710 None None Co., Ltd. corporate FOXTROT INTERNATIONAL Overseas 1.61 41,580,000 13,860,000 41,580,000 None None None LIMITED corporate Overseas ORIENTURE INVESTMENT LTD 1.55 39,904,717 13,301,572 39,904,717 None None None corporate GOLDEN CHINA MASTER Overseas 1.03 26,487,893 13,614,702 None 26,487,893 None None FUND institutions Domestic Fullgoal Tianbo Innovative Theme non-state-o 0.73 18,800,000 800,000 None 18,800,000 None None Stock Fund wned corporate Domestic National Social Security Fund 118 non-state-o 0.67 17,136,388 7,192,570 None 17,136,388 None None Portfolio wned corporate Domestic National Social Security Fund 413 non-state-o 0.58 15,000,000 15,000,000 None 15,000,000 None None Portfolio wned corporate GREENWOODS CHINA ALPHA Overseas 0.51 13,031,565 11,451,175 None 13,031,565 None None MASTER FUND institutions Shareholding status of top ten un-restricted shareholders Quantity of held un-restricted share at the end of this Name of shareholders Class of shares year GOLDEN CHINA MASTER FUND 26,487,893 B share Fullgoal Tianbo Innovative Theme Stock Fund 18,800,000 A share National Social Security Fund 118 Portfolio 17,136,388 A share National Social Security Fund 413 Portfolio 15,000,000 A share GREENWOODS CHINA ALPHA MASTER 13,031,565 B share FUND Invesco Great Wall Domestic Needs Growth No 12,567,625 A share Two Shares Securities Investment Funds China Life Insurance (Group) Ltd.