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Summary of Annual Report 2013 of CMPD Stock Code: 000024, 200024 Stock Short Names: China Merchants Property., China Merchants B Announcement No.: 【CMPD】2014－013 Summary of Annual Report 2013 of China Merchants Property Development Co., Ltd. 1 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 Stock Short Name Stock Code 000024, 200024 Merchants B Listed Stock Exchange Shenzhen Stock Exchange Contact Person and Contact Way Secretary of the Board Securities Affair Representative Name Liu Ning Huang Rui 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] 2 Main financial data and shareholder change The Company does not make retroactive adjustment or restatement for the previous year accounting data due to accounting policy alternative, correction of accounting error, etc. (Unit: RMB) Main Year-on-year accounting 2013 2012 2011 Change data Operating 32,567,813,857.52 25,296,762,154.46 28.74% 15,111,366,642.00 income (RMB) Net profit attributable to 4,202,152,074.18 3,318,266,875.59 26.64% 2,591,781,031.00 shareholders Netof the profit listed attributablecompany to shareholders(RMB) of the listed company after 3,923,178,228.65 3,347,473,177.02 17.20% 2,490,234,506.00 deducting non-recurring gains and losses (RMB) 1 Summary of Annual Report 2013 of CMPD Net cash flow from operating 495,923,554.51 5,098,777,753.73 -90.27% -2,112,339,698.00 activities (RMB) Basic 2.45 1.93 26.94% 1.51 earnings per Dishareluted earnings(RMB/share) per 2.45 1.93 26.94% 1.51 share Up by 1.54 Return(RMB/share) on percentage equity (%) 16.73% 15.19% 13.39% points Year-on-year End of 2013 End of 2012 End of 2011 Change Total assets (RMB) 134,040,446,989.65 109,197,242,683.06 22.75% 79,666,494,368.00 Net asset value attributable to shareholders 26,725,501,967.24 23,393,515,534.13 14.24% 20,418,214,797.00 of the listed company (RMB) (2) Influence of IAS Adjustment on Net Profit and Net Asset (unaudited) (Unit: RMB) Net profit attributable to the shareholders of the Net assets attributable to the shareholders of the listed company listed company 2013 2012 End of 2013 End of 2012 By IAS 4,202,152,074.18 3,318,266,875.59 28,065,331,196.24 24,733,344,76 3.13 23,393,515,53 By Chinese Accounting 4,202,152,074.18 3,318,266,875.59 26,725,501,967.24 Standard 4.13 1,339,829,229 Difference between - - 1,339,829,229.00 home& abroad .00 Of which: Adjustment 1,339,829,229 - - 1,339,829,229.00 of goodwill .00 For the current year, the net profit attributable to the shareholders of listed company is the same under both Chinese Accounting Standard and International Accounting Standard. The main reason of the adjustment on the net asset attributable to shareholders of listed company according to International Notes Accounting Standard was that according to the Chinese Accounting Standard and relative regulations, the differences generated by consolidation of entities under same control shall be adjusted into capital reserves, whereas the goodwill generated by consolidation shall be recorded individually as assets according to the IAS. 2 Summary of Annual Report 2013 of CMPD (3) Non-recurring gain and loss items and amount (Unit: RMB) Non-recurring gain and loss items 2013 2012 2011 Gains/losses from the disposal of non-current assets 256,255,563.72 -1,407,797.62 -256,439.00 Government subsidies 33,800 ,048.66 16,352,111.12 1,876,900.00 Other non-operating income/expenditure net amount 11,630,003.67 Influences on minority shareholders’ gains/losses -3,883,513.02 -49,804,571.52 100,717,124.00 Impact on income tax -7,253,985.40 2,766,668.96 -192,214.00 Reversal of any provisions for asset impairment which has been made in prior years -11,574,272.10 2,887,287.63 -598,846.00 Total 278,973,845.53 -29,206,301.43 101,546,525.00 (4) Shareholding of top 10 shareholders Total amount of Total amount of shareholders at the 59,052 (including 49,776 A share holders shareholders at the fifth 69,317 (including 59,549 A share holders end of the report period and 9,276 B share holders) trading day before the and 9,768 B share holders) annual report disclosed Shareholding of top 10 shareholders Amount of Share Pledged or freeze shares Class of shares at the Year-on-year Restricted Unrestricted Name of shareholder proportio shareholder end of the shares shares n (%) Change Share state Amount report period State-owne China Merchants Shekou Industrial d legal 40.38 693,419,317 No 693,419,317 No No No Zone Co., Ltd. person Overseas Full Space Investment legal 5.48 94,144,050 No 94,144,050 No No No person Overseas China Merchants Securities Hong legal 2.90 49,887,284 152,378 49,242,245 645,039 No No Kong Co., Ltd. person Overseas FOXTROT INTERNATIONAL legal 1.61 27,720,000 No 27,720,000 No No No LIMITED person Overseas ORIENTURE INVESTMENT LTD legal 1.55 26,603,145 No 26,603,145 No No No person Domestic none Full Goal Tianbo Innovative Theme state-owne 1.05 18,000,000 7,988,882 No 18,000,000 No No Equity Securities Investment Fund d legal person Domestic none GF Small-capitalization Growth Equity state-owne 0.82 14,152,047 3,152,047 No 14,152,047 No No Securities Investment Fund d legal person 3 Summary of Annual Report 2013 of CMPD Domestic none New China Life Insurance Co.,Ltd state-owne 0.81 13,865,592 13,865,592 No 13,865,592 No No d legal person Overseas GOLDEN CHINA MASTER FUND 0.75 12,873,191 386,431 No 12,873,191 No No institution Domestic none GF Wealth Gathering Open Securities state-owne 0.70 12,000,000 12,000,000 无 12,000,000 无 无 Investment Fund d legal person Top 10 holders of unrestricted shares Name of shareholder Unrestricted shares at the end of year Class of Share Full Goal Tianbo Innovative Theme Equity Securities 18,000,000 A share Investment Fund GF Small-capitalization Growth Equity Securities 14,152,047 A share Investment Fund New China Life Insurance Co., Ltd. 13,865,592 A share GOLDEN CHINA MASTER FUND 12,873,191 B share GF Wealth Gathering Open Securities Investment 12,000,000 A share Fund Norges Bank 11,394,794 A share National Social Insurance Fund 118 Combination 9,943,818 A share BOCI SECURITIES LIMITED 9,756,100 B share Yinhua ShenZheng 100 Index Rating Securities 8,745,733 A share Investment Fund VALUE PARTNERS CLASSIC FUND 7,557,460 B share Shekou Industrial Zone and its subsidiary companies Full Space Investment, Top Chief International, FOXTROT INTERNATIONAL LIMITED and ORIENTURE INVESTMENT LTD are persons acting in concert. 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. GF Small-capitalization Growth Equity Securities Investment Fund and GF Wealth Gathering Open Securities Investment Fund belong to the same fund management company. (3) The following chart shows the equity and the control relationship between the Company and the Actual Controller at the end of report period: State-owned Assets Supervision and Administration Commission Supervision and Administration Commission of the State Council 100% China Merchants Group Co., Ltd. 100% 40.38% China Merchants Shekou Industrial Zone Co., Ltd. 100% 2.87% Top Chief Co., Ltd. 100% Orienture Holdings Co. Ltd China Merchants Property Development Co., Ltd. 5.48% 100% Full Space Investment Limited 1.61% 100% Foxtrot International Limited 1.55% 100% Orienture Investment Limited 4 Summary of Annual Report 2013 of CMPD 3 Managerial discussion and analysis Overview (A) Market Review In 2013, the global economy gradually got rid of the haze of financial crisis and took a turn for the better while maintaining stability. After 30 years of rapid growth that reform and opening up has brought about, China's economy entered a period of stable development. While preventing economic downside risks, the central government put more emphasis on promoting economic structural adjustment and improving the quality and efficiency of economic development to seek balance in "steady growth, structural adjustment and reform promotion". In 2013, China's real estate market generally saw a steady and positive development, with key indicators picking up. National real estate sales area reached 1305.51 million square meters, and sales reached 8142.8 billion Yuan, a record high, up 17.3% and 26.3% respectively. Along with the trend of sales recovery, there came a strong rebound in newly started construction area throughout the year, an increase in land acquisition area and gradual rise in land cost.
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