China Merchants Port Group Co. Ltd. Interim Report 2024 (Summary)

Stock Code: 001872/201872 Stock Name: CM Port Group/CM Port Group B Announcement No. 2024-064

CHINA MERCHANTS PORT GROUP CO. LTD.INTERIM REPORT 2024 (SUMMARY)

Part I Important Notes

This Summary is based on the full Interim Report of China Merchants Port Group Co. Ltd.(hereinafter referred to as the “Company”). In order for a full understanding of the Company’s

operating results financial position and future development plans investors should carefully read

the aforesaid full report on the media designated by the China Securities Regulatory Commission

(the “CSRC”).All the Company’s directors have attended the Board meeting for the review of this Report and its

summary.Independent auditor’s modified opinion:

□ Applicable √ Not applicable

Board-approved interim cash and/or stock dividend plan for ordinary shareholders:

□ Applicable √ Not applicable

The Company has no interim dividend plan either in the form of cash or stock.Board-approved interim cash and/or stock dividend plan for preferred shareholders:

□ Applicable √ Not applicable

Note: For the meanings of the abbreviations in this Summary please refer to the information under

the heading “Definitions” in the full Interim Report.This Report and its summary have been prepared in both Chinese and English. Should there be any

discrepancies or misunderstandings between the two versions the Chinese versions shall prevail.Part II Key Corporate Information

1. Stock Profile

CM Port Group/ 001872/

Stock name Stock code

CM Port Group B 201872

Stock exchange for stock listing Shenzhen Stock Exchange

Contact information Board Secretary Securities Representative

Name Liu Libing Hu Jingjing

24/F China Merchants Port Plaza 24/F China Merchants Port Plaza 1

Office address 1 Gongye 3rd Road Zhaoshang Gongye 3rd Road Zhaoshang Street

Street Nanshan Shenzhen PRC Nanshan Shenzhen PRC

Tel. +86 755 26828888 +86 755 26828888

1China Merchants Port Group Co. Ltd. Interim Report 2024 (Summary)

E-mail address Cmpir@cmhk.com Cmpir@cmhk.com

2. Key Financial Information

Indicate by tick mark whether there is any retrospectively restated datum in the table below.□ Yes √ No

H1 2024 H1 2023 Change (%)

Operating revenue

7975193083.647795261570.992.31%

(RMB)

Net profit attributable to

the listed company’s 2546828456.08 1902334759.43 33.88%

shareholders (RMB)

Net profit attributable to

the listed company’s

shareholders before 2164145793.00 1801393373.15 20.14%

exceptional gains and

losses (RMB)

Net cash generated

from/used in operating 3122383705.03 2310845305.96 35.12%

activities (RMB)

Basic earnings per share

1.020.7634.21%

(RMB/share)

Diluted earnings per

1.020.7634.21%

share (RMB/share)

Weighted average return

4.25%3.43%0.82%

on equity (%)

30 June 2024 31 December 2023 Change (%)

Total assets (RMB) 200745131615.31 198557296667.26 1.10%

Equity attributable to the

listed company’s 59913613858.14 58847592947.55 1.81%

shareholders (RMB)

3. Shareholders and Their Holdings as at the End of the Reporting Period

Unit: share

Number of preferred

29237(18591

shareholders with

Number of ordinary shareholders A-shareholders and 0

resumed voting

10646 B-shareholders)

rights (if any)

Top 10 shareholders (exclusive of shares lent in refinancing)

Nature of Shares in

Shareholdin Number of Restricted

Name of shareholder shareholde pledge or

g percentage shares shares

r frozen

CHINA MERCHANTS PORT Foreign

INVESTMENT DEVELOPMENT legal 45.94% 1148648648 0 0

COMPANY LIMITED person

2China Merchants Port Group Co. Ltd. Interim Report 2024 (Summary)

ZHEJIANG PROVINCIAL State-own

SEAPORT INVESTMENT & ed legal 23.07% 576709537 576709537 0

OPERATION GROUP CO. LTD. person

CHINA MERCHANTS State-own

GANGTONG DEVELOPMENT ed legal 14.83% 370878000 0 0

(SHENZHEN) CO. LTD. person

Funds

SHENZHEN INFRASTRUCTURE wealth

INVESTMENT FUND manageme

2.59%6485018200

PARTNERSHIP (LIMITED nt

PARTNERSHIP) products

etc.State-own

BROADFORD GLOBAL LIMITED ed legal 2.21% 55314208 0 0

person

State-own

CHINA-AFRICA DEVELOPMENT

ed legal 0.74% 18626268 0 0

FUND

person

Foreign

HONG KONG SECURITIES

legal 0.24% 5878974 0 0

CLEARING COMPANY LTD.person

Funds

CHINA LIFE INSURANCE

wealth

COMPANY

manageme

LIMITED-TRADITION- GENERAL 0.21% 5141322 0 0

nt

INSURANCE PRODUCTS-005L-

products

CT001 HU

etc.Funds

AGRICULTURAL BANK OF

wealth

CHINA CO. LTD.- FRANKLIN

manageme

TEMPLETON SEALAND 0.16% 3944500 0 0

nt

DEEPENING VALUE MIXED

products

SECURITIES INVESTMENT FUND

etc.Funds

AGRICULTURAL BANK OF wealth

CHINA CO. LTD.- CHINA manageme

0.12%294463300

SECURITIES 500 EXCHANGE nt

TRADED FUND products

etc.Broadford Global Limited is a controlling shareholder of

China Merchants Port Investment Development Company

Related or acting-in-concert parties among the

Limited and China Merchants Gangtong Development

shareholders above

(Shenzhen) Co. Ltd. The Company does not know whether

the other unrestricted shareholders are related parties or not.Shareholders involved in securities margin

N/A

trading (if any)

5% or greater shareholders top 10 shareholders and Top 10 unrestricted shareholders involved in

refinancing shares lending

5% or greater shareholders top 10 shareholders and Top 10 unrestricted shareholders involved in refinancing shares lending

Shares in the common Shares lent in refinancing Shares in the common Shares lent in refinancing

Full name

account and credit account and not yet returned at the account and credit account and not yet returned at the

of

at the period-begin period-begin at the period-end period-end

shareholder

Total As % of Total As % of Total As % of Total As % of

3China Merchants Port Group Co. Ltd. Interim Report 2024 (Summary)

shares total share shares total share shares total share shares total share

capital capital capital capital

AGRICUL

TURAL

BANK OF

CHINA

CO. LTD.-

CHINA

12910330.05%3744000.01%29446330.12%1071000.004%

SECURITI

ES 500

EXCHAN

GE

TRADED

FUND

Changes in top 10 shareholders and top 10 unrestricted shareholders due to refinancing shares

lending/return compared with the prior period

□ Applicable √ Not applicable

4. Change of the Controlling Shareholder or the Actual Controller in the Reporting Period

Change of the controlling shareholder in the Reporting Period:

□ Applicable √ Not applicable

The controlling shareholder remained the same in the Reporting Period.Change of the actual controller in the Reporting Period:

□ Applicable √ Not applicable

The actual controller remained the same in the Reporting Period.

5. Number of Preferred Shareholders and Shareholdings of Top 10 of Them

□ Applicable √ Not applicable

No preferred shareholders in the Reporting Period.

6. Outstanding Bonds at the Date when this Report Was Authorized for Issue

(1) Bond Profile

Outstanding

Coupon

Bond name Abbr. Bond code Issue date Maturity balance

rate

(RMB’0000)

2022 Public Offering of 29 August

22 CMPort 30 August

Corporate Bonds of China 148052 2022 to 30 300000.00 2.69%

012025

Merchants Port Group August

4China Merchants Port Group Co. Ltd. Interim Report 2024 (Summary)

Co. Ltd. (for professional 2022

investors) (Phase I)

2022 Public Offering of 5

Corporate Bonds of China September

22 CMPort 6 September

Merchants Port Group 148058 2022 to 6 300000.00 2.45%

022024

Co. Ltd. (for professional September

investors) (Phase II) 2022

Medium-term Notes of

China Merchants Port 24 CMPort 1 April

102481314 3 April 2029 50000.00 2.68%

Group Co. Ltd. (Phase MTN001A 2024

I 2024) (Variety I)

Medium-term Notes of

China Merchants Port 24 CMPort 1 April

102481315 3 April 2034 150000.00 2.80%

Group Co. Ltd. (Phase MTN001B 2024

I 2024) (Variety II)

Medium-term Notes of

China Merchants Port 24 CMPort 10 July 12 July

10248295780000.002.10%

Group Co. Ltd. (Phase MTN002A 2024 2027

II 2024) (Variety I)

Medium-term Notes of

China Merchants Port 24 CMPort 10 July 12 July

102482958120000.002.30%

Group Co. Ltd. (Phase MTN002B 2024 2029

II 2024) (Variety II)

Super-short-term

Commercial Papers of

24 CMPort 31 July 28 April

China Merchants Port 012482326 200000.00 1.95%

SCP002 2024 2025

Group Co. Ltd. (Phase II

2024)

2024 Public Offering of

Technological Innovation 22 August

Corporate Bonds of China 24 CMPort 2024-23 23 August

148877200000.002.18%

Merchants Port Group K1 August 2029

Co. Ltd. (for professional 2024

investors) (Phase I)

(2) Relevant Financial Information as at the End of the Reporting Period

31 December

Item 30 June 2024 Increase/decrease

2023

Current ratio 91.72% 80.71% 13.64%

Debt/asset ratio 36.75% 36.76% -0.01%

Quick ratio 89.61% 79.96% 12.07%

H1 2024 H1 2023 Increase/decrease

Net profit before exceptional gains

216414.58180139.3420.14%

and losses (RMB’0000)

EBITDA/debt ratio 11.65% 10.07% 1.58%

Interest cover (times) 5.00 4.12 21.36%

Cash-to-interest cover (times) 4.40 3.52 25.00%

EBITDA-to-interest cover (times) 7.35 6.58 11.70%

5China Merchants Port Group Co. Ltd. Interim Report 2024 (Summary)

Loan repayment ratio 100.00% 100.00% -

Interest payment ratio 100.00% 100.00% -

Part III Significant Events

1. Business Overview of the Reporting Period

(1) Overview of port business

In the first half of 2024 both domestic and overseas port markets showed relatively faster growth.The Company’s port business outperformed the industry as a whole and increased its market share

in major regions. The Company’s ports handled a total container throughput of 95.786 million

TEUs up by 10.0% year-on-year. Bulk cargo volume handled by the Company’s ports increased by

1.0% year-on-year to 636 million tonnes.

(2) Implementation Situation of Operation Scheme During the Reporting PeriodDuring the reporting period the Company continued to follow the working direction of “seekingprogress while maintaining stability stable yet progressive growth and breakthrough afterrevitalization” capturing the opportunities of global economic and trade recovery and the rebound

of the international shipping market. The Group focused on endogenous growth and innovation and

upgrade. Through reform-driven development the Company achieved significant results in global

layout advanced the development of the homebase port to a new level and made substantial

progress in lean operations. The Company’s key performance indicators showed better growth

taking solid steps towards high quality development.* As for homebase port construction the Company maintained its locational advantages and

extended the industrial chain. The performance of the West Shenzhen Port Zone business

surpassed the overall level of Shenzhen Port and its market share of container business in the

foreign trade market of Shenzhen Port exceeded 50% for the first time reaching a record high in

terms of container throughput; and its bulk cargo business continued to maintain the advantageous

position with multiple types of cargos. Its market share of imported meals and compound fertilizers

ranked 1st in national single ports and its imported rapeseed wheat and internally traded corn

ranked 1st in regional single ports showing its stable and top position of chemical fertilizer

business. Sri Lanka homebase port continued to carry out the construction of an international

shipping center in South Asia. CICT continuously optimized its routes layout focusing on

expanding the local cargo market and consolidating its fundamental feature resulting in an increase

in market share of local cargo. HIPG accelerated its transformation and upgrade continuously

improved its core competitiveness launched the container business consolidated the RORO

business actively explored the value-added services for the RORO business promoted the refining

and chemical project by Sinopec as well as strengthened the infrastructure construction. As a result

it achieved business diversification and rapid growth.* In respect of operation management the Company strengthened business coordination and

intensified lean management. With regard to marketing and commerce the Group enhanced the

service quality and strengthened business coordination. It unified the market and commerce

management system and established market information sharing and joint marketing plans and

6China Merchants Port Group Co. Ltd. Interim Report 2024 (Summary)

focused on changes in global shipping alliance routes to form agile business strategies. In terms of

lean operation the Company leveraged on SMP to build a one-stop integrated management

platform to support the business analysis of container bulk cargo logistics park comprehensive

development and smart technology. The Group made use of the smart tools to drive the reform of

China Merchant Ports’ operation and management methods models and concepts. In the meantime

the Company continued to implement the COE plan aiming to serve the strategy support the

business and create value. By focusing on business pain points and difficulties the Group

optimized the value tree model of lean operation further improving the management system and

giving impetus to strategic goal achievements.* In respect of technological innovation the Company was committed to building green

ports and promoting digital products. The Company has made new breakthroughs in building

green ports and promoting digital products. In the first half of the year CICT carried out

electrification transformation for its 54 trailers added 175 new electric trailers for the West

Shenzhen Port Zone and green projects such as new photovoltaic installations were implemented in

an orderly manner. CMIT which is a technical enterprise subsidiary of the Company entered into a

cooperation agreement for the container terminal operating system (“CTOS”) with Mediterranean

Intermodal Terminal Operator a subsidiary of Grendi Group in Italy. This project is the second one

to be launched in Europe following the Thessaloniki Container Terminal in Greece. The Company

continued to strengthen technological innovation and service upgrade and based on the

international perspective it explored the development of digital ports with business partners to

provide smarter and more efficient service solutions for global customers.* Regarding overseas expansion the Company implemented the key projects and made new

breakthroughs in global layout. On 28 June 2024 China Merchants Port the holding subsidiary

of the Company completed the acquisition of 51% equity interest in NPH in Indonesia. NPH is a

company listed on the Indonesia Stock Exchange primarily engaged in container multi-purpose

and general terminal services in Indonesia as well as providing port equipment engineering services.It operates two container terminals at Jakarta Port the largest container port in Indonesia. With this

acquisition the Company has achieved a breakthrough from “zero” in controlling container

terminals in Southeast Asia. In the future the Company will use NPH as a platform and leverage to

deeply develop the Indonesian port and logistics market. In addition the Company is advancing the

South Asia Commercial and Logistics Hub Project as planned under the “Port + Logistics” model.This project will not only significantly enhance the local logistics service level but also attract more

business to Colombo Port further enhancing Colombo Port's position as a hub port in the South

Asia region.* In terms of intensifying reform the Company continued to deepen reform and promoteleapfrog development. In the first half of 2024 the Company continuously carried out “DoubleHundred Actions” took “Serving National Strategies” as its direction and focused on “improving itscore competitiveness and enhancing its core functions”. After two years of reform action the reformof system and mechanism has obtained initial achievement and the case “significant risk controlsystem” of the Company has been elected as one of the typical reform cases of SASAC. In respect

of intensifying reform relevant matters involving reform and innovation have been integrated by

the Company into the operational indicators of its subsidiaries. In terms of talent selection and

employment the Company has established a hierarchical and categorized efficient and transparent

open recruitment mechanism to ensure that the selection process was fair impartial and open and

the new and energetic talents were injected into the development of the Company.* In respect of the ESG construction the Company practiced sustainable development

7China Merchants Port Group Co. Ltd. Interim Report 2024 (Summary)

concept and strengthened ESG disclosure. The Company continuously improved the ESG

management system optimized management practices and working policies and integrated the

ESG concept into daily port operations. Meanwhile the Company has been actively communicating

with domestic and overseas ESG rating agencies to further enhance the breadth and depth of ESG

disclosures. The Company’s ESG performance has been recognized by authoritative institutions and

market with an ESG rating of AA by WIND in 2023 advancing one level as compared with last

year.

(3) Year-on-year Changes in Key Financial Data

Unit: RMB

H1 2024 H1 2023 Change (%) Main reason for change

Operating revenue 7975193083.64 7795261570.99 2.31% -

Operating costs 4390869294.96 4519943753.79 -2.86% -

Administrative expense 808178756.18 790916154.65 2.18% -

Finance costs 996212773.81 960449741.90 3.72% -

Effects of increased

operating profit and

Income tax expense 804518878.51 613219852.56 31.20%

provision for dividend

income tax

Effects of changes in

the scope of entities

included in the

R&D Investments 95110656.98 121041310.72 -21.42%

consolidated financial

statements and R&D

project cycles

Effects of increased

Net cash generated

revenue and receipt of

from/used in operating 3122383705.03 2310845305.96 35.12%

activities operating

compensation

Net cash generated

Effects of changes in

from/used in investing 1813559009.13 -1225290440.51 248.01%

activities structured deposits

Effects of changes in

project financings

Net cash generated

dividend payout and

from/used in financing -3563308336.73 -210222809.39 1595.02%

expenditure on

activities

increasing holdings in

subsidiaries

Combined effects of

cash generated

Net increase in cash

1287598929.70 989020982.66 30.19% from/used in operating

and cash equivalents

investing and financing

activities

2. Matters Related to Financial Reporting

8China Merchants Port Group Co. Ltd. Interim Report 2024 (Summary)

(1) Changes to Accounting Policies Accounting Estimates or Measurement Methods

Compared to the Last Accounting Period

On 25 October 2023 the Ministry of Finance issued Interpretation No. 17 for the AccountingStandards for Business Enterprises (C.K. [2023] No.21 hereinafter referred to as “InterpretationNo. 17”) which stipulates that the provisions of “classification of current liabilities andnon-current liabilities” “disclosure of vendor financing arrangements” and “accountingtreatments for sale-leaseback transactions” are effective from 1 January 2024 onwards. The

Company has implemented Interpretation No. 17 from 1 January 2024 in accordance with the above

relevant standards and circulars issued by the Ministry of Finance. Except for the above policy

changes the Company still adopts the remaining unchanged contents in the Accounting Standards

for Business Enterprises—Basic Guidelines and specific accounting standards the Guidelines for

the Application of the Accounting Standards for Business Enterprises Interpretation Circulars for

the Accounting Standards for Business Enterprises and other applicable regulations that were

issued by the Ministry of Finance in previous periods.

(2) Retrospective Restatements due to the Correction of Material Accounting Errors in the

Reporting Period

□ Applicable √ Not applicable

No such cases.

(3) Changes to the Scope of Consolidated Financial Statements Compared to the Last

Accounting Period

During the Reporting Period CMPort Holdings a majority-owned subsidiary of the Company

completed the acquisition of 51% equity interest in NPH in Indonesia. Upon the completion of the

acquisition NPH has been included in the Company’s consolidated financial statements.China Merchants Port Group Co. Ltd.Board of Directors

Dated 31 August 2024

9