China Merchants Port Group Co. Ltd. Interim Report 2023 (Summary)

Stock Code: 001872/201872 Stock Name: CM Port Group/CM Port Group B Announcement No. 2023-070

CHINA MERCHANTS PORT GROUP CO. LTD.INTERIM REPORT 2023 (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 Li Yubin Hu Jingjing

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

1 Gongye 3rd Road Zhaoshang Gongye 3rd Road Zhaoshang Street

1China Merchants Port Group Co. Ltd. Interim Report 2023 (Summary)

Street Nanshan Shenzhen PRC Nanshan Shenzhen PRC

Tel. +86 755 26828888 +86 755 26828888

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

Reason for retrospective restatements: Change to accounting policies

The Ministry of Finance issued Interpretation No. 16 for the Accounting Standards for BusinessEnterprises (C.K. [2022] No. 31) on 30 November 2022 which stipulates that the “accountingtreatments for deferred income taxes associated with assets and liabilities arising from a singletransaction to which the initial recognition exemption does not apply” shall take effect since 1

January 2023. In accordance with the aforesaid standard and regulations of the Ministry of Finance

the Company has adopted Interpretation No. 16 for the Accounting Standards for Business

Enterprises since 1 January 2023.H1 2022 Change (%)

H1 2023

Before Restated Restated

Operating revenue

7795261570.998150462367.198150462367.19-4.36%

(RMB)

Net profit

attributable to the

listed company’s 1902334759.43 1981861324.62 1988560957.83 -4.34%

shareholders

(RMB)

Net profit

attributable to the

listed company’s

shareholders 1801393373.15 1920549245.60 1927248878.81 -6.53%

before exceptional

gains and losses

(RMB)

Net cash

generated

from/used in 2310845305.96 3221251177.09 3221251177.09 -28.26%

operating

activities (RMB)

Basic earnings per

share 0.76 1.03 1.03 -26.21%

(RMB/share)

Diluted earnings

per share 0.76 1.03 1.03 -26.21%

(RMB/share)

Weighted average

return on equity 3.43% 4.88% 4.88% -1.45%

(%)

2China Merchants Port Group Co. Ltd. Interim Report 2023 (Summary)

31 December 2022 Change (%)

30 June 2023

Before Restated Restated

Total assets

204928889409.33197525530887.76197587102447.313.72%

(RMB)

Equity

attributable to the

listed company’s 55744255220.13 54267143304.02 54291425886.65 2.68%

shareholders

(RMB)

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

Unit: share

Number of preferred

29583(18479

Number of ordinary shareholders shareholders with A-shareholders and 0

resumed voting

11104 B-shareholders)

rights (if any)

Top 10 shareholders

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 45.96% 1148648648 0 0

COMPANY LIMITED person

ZHEJIANG PROVINCIAL State-own

SEAPORT INVESTMENT & ed legal 23.08% 576709537 576709537 0

OPERATION GROUP CO. LTD. person

CHINA MERCHANTS State-own

GANGTONG DEVELOPMENT ed legal 14.84% 370878000 0 0

(SHENZHEN) CO. LTD. person

SHENZHEN INFRASTRUCTURE Funds

INVESTMENT FUND-SHENZHEN wealth

INFRASTRUCTURE manageme

2.59%6485018200

INVESTMENT FUND nt

PARTNERSHIP (LIMITED products

PARTNERSHIP) etc.State-own

BROADFORD GLOBAL LIMITED ed legal 2.21% 55314208 0 0

person

State-own

CHINA-AFRICA DEVELOPMENT

ed legal 1.69% 42190151 0 Unknown

FUND

person

CHINA CITIC BANK Funds

CORPORATION wealth

LIMITED-BOCOM SCHRODERS manageme 0.27% 6774663 0 Unknown

NEW VITALITY DYNAMIC nt

ASSET ALLOCATION MIXED products

SECURITIES INVESTMENT etc.

3China Merchants Port Group Co. Ltd. Interim Report 2023 (Summary)

FUND

Funds

CHINA LIFE INSURANCE

wealth

COMPANY

manageme

LIMITED-TRADITION- GENERAL 0.18% 4534022 0 Unknown

nt

INSURANCE PRODUCTS-005L-

products

CT001 HU

etc.Foreign

HONG KONG SECURITIES

legal 0.18% 4400007 0 Unknown

CLEARING COMPANY LTD.person

Funds

BANK OF CHINA LIMITED- GF wealth

MID-CAP AND SMALL-CAP manageme

0.13% 3356800 0 Unknown

SELECTED MIXED SECURITIES nt

INVESTMENT FUND products

etc.Broadford Global Limited is the controlling shareholder of

Related or acting-in-concert parties among the China Merchants Port Investment Development Company

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)

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

Does the Company have any corporate bonds publicly offered on the stock exchange which were

outstanding before the date of this Report’s approval or were due but could not be redeemed in full

4China Merchants Port Group Co. Ltd. Interim Report 2023 (Summary)

√ Yes □ No

(1) Bond Profile

Outstanding

Coupon

Bond name Abbr. Bond code Issue date Maturity balance

rate

(RMB’0000)

2020 Public Offering of

Corporate Bonds of

China Merchants Port 20 CMPort

149170 7 July 2020 8 July 2023 200000.00 3.36%

Group Co. Ltd. (for 01

qualified investors)

(Phase I)

2022 Public Offering of

29 August

Corporate Bonds of China

22 CMPort 2022 to 30 30 August

Merchants Port Group 148052 300000.00 2.69%

01 August 2025

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

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

Item 30 June 2023 31 December 2022 Increase/decrease

Current ratio 95.23% 76.93% 23.79%

Debt/asset ratio 36.20% 35.07% 1.13%

Quick ratio 94.39% 76.08% 24.07%

H1 2023 H1 2022 Increase/decrease

Net profit before exceptional gains

180139.34192054.92-6.20%

and losses (RMB’0000)

EBITDA/debt ratio 10.07% 11.93% -1.86%

Interest cover (times) 4.12 4.76 -13.45%

Cash-to-interest cover (times) 3.52 5.20 -32.31%

EBITDA-to-interest cover (times) 6.58 7.15 -7.97%

Loan repayment ratio 100.00% 100.00% -

Interest payment ratio 100.00% 100.00% -

5China Merchants Port Group Co. Ltd. Interim Report 2023 (Summary)

Part III Significant Events

1. Business Overview of the Reporting Period

Is the Company subject to any industry-specific disclosure requirements

The Company is not subject to any industry-specific disclosure requirements.

(1) Overview of port business

In the first half of 2023 port businesses coincided with industry mainstream trend which scaled up

share of key region market and the Company’s investment on Ningbo Port also increased its

business volume. The Company’s ports handled a total container throughput of 87.075 million

TEUs up 30.4% year-on-year. Bulk cargo volume handled by the Company’s ports increased by

115.3% year-on-year to 630 million tonnes which was mainly thanks to the business volume of

Ningbo Port included in the Company since October 2022 contributing business increment of the

Company with container throughput of 19.74 million TEUs and bulk cargo throughput of 333

million TEUs in the first half of the year. For container business the Company’s ports in Mainland

China handled a container throughput of 67.747 million TEUs representing a year-on-year increase

of 46.4% ports in Hong Kong and Taiwan regions contributed a total container throughput of 2.791

million TEUs representing a year-on-year decrease of 22.4% and the total container throughput

handled by the Company’s overseas ports grew by 116.7% year-on-year to 16.537 million TEUs. In

terms of bulk cargo business the Company’s ports in Mainland China handled a bulk cargo volume

of 627 million tonnes up 116.7% year-on-year and overseas ports handled a bulk cargo volume of

2.797 million tonnes down 12.8% year-on-year.

(2) Implementation of business plan during the reporting period

During the Reporting Period the Company sticked to its fundamental working principle of making

advancement while maintaining stable. It proactively coped with the global economic downturn and

shrink of demand continued to focus on endogenous growth and innovation upgrading and captured

opportunities under the complex economic and trade situation to fully implement various

development measures. In respect of construction of homebase port technological innovation

market expansion operation management deepening reform comprehensive development ESG

and other aspects the Company has achieved new accomplishment and made a solid step for high

quality development.* As for the construction of homebase ports strengthening regional position and extending

value chain. Under the situation that the overall container throughput in the Guangdong-Hong

Kong-Macao Greater Bay Area declines the West Shenzhen homebase port by adjusting

competitive strategy consolidated and further enhanced its market share in foreign trade.Meanwhile it further advanced the upgrade of the hardware of collection and transportation

infrastructures of West Shenzhen homebase port enabling ships of 200000 tonnes to sail at night in

Tonggu channel. For homebase port in Sri Lanka the Company continued to advance the

construction of the international shipping center in South Asia. CICT continued to optimize route

layout and steadily improved its market share in Colombo Market maintaining its dominant

position; besides it steadily advanced the trade and logistics project in South Asia to cultivate the

6China Merchants Port Group Co. Ltd. Interim Report 2023 (Summary)

competitiveness with comprehensive service features building up new development momentum of

“port + logistics center”. HIPG strengthened market expansion and its transfer business of RO-RO

liquefied petroleum gas and fuel oil all recorded relatively high growth.* In terms of technological innovation promoting technological innovation and constructing

smart port. CMIT a subsidiary of the Company continued to increased investment in R&D of

technologies steadily implemented the critical task to overcome the structural upgrade of the

Container Terminal Operation System (CTOS) of Ministry of Transport continued to optimized the

proposal of autonomous driving technology sped up the R&D and promotion of products of

comprehensive service platform of “CM ePort” version 3.0 and constantly promoted the deepening

of management of the Smart Management Platform (SMP). In the first half “5G Mawan Smart Port”

was included in the first batch of pioneer application excellent cases and solutions in Shenzhen. On

12 August China Federation of Logistics & Purchasing announced that the “West Shenzhen PortImport Electronic Order Exchange Platform Project Based on Alliance Chain and Cloud

Technology obtained the First Prize of Science and Technology Progress Award.* In terms of market expansion improving service quality and promoting model innovation.The Latin American bridgehead TCP’s market share has further improved and the leading position

of HIPG RoRo in the reginal market has been further strengthened. In the Guangdong-Hong

Kong-Macao Greater Bay Area the Company actively facilitated inter-companies synergy in the

China Merchants Group built high-quality routes with “customized port services” and proactively

expanded business along the Southeast Asian routes. With continuous progress the coordinated port

business in the Guangdong-Hong Kong-Macao Greater Bay Area has covered every major regions

of Guangdong Province. 5 new sites and a total of 30 sites were opened in the first half of 2023

serving nearly 6000 import and export enterprises and completed more than 0.40 million TEUs in

aggregate since operation.* In terms of operation management construction of an operation management and control

system and improving streamline operation capacity. By leverage of SMP the Company built a

one-stop comprehensive management platform of CMPort supporting the business analysis of all

modules namely containers bulk cargos logistics park comprehensive development and intelligent

technology. SMP takes digital technology as the key force and applies smart tools to drive the

transformation of means modes and concepts of the operation and management of CMPort. At

present the Company has substantially realized the classification and management of information

of lifetime of assets the standardization and onlineization of major business processes. Besides the

Company also optimized the engineering management system and set up an engineering

management center to carry out works; optimized its profitability and constantly developed

measures to enhance its quality and efficiency; optimized and reshaped its business and financial

analysis framework to strictly control the increase of cost and expenses; deepened cost control to

form a normalization mechanism of cost reduction and higher efficiency. The streamline operation

of the Company has achieved phased results.* In terms of deepening reform strengthening system and mechanism reform inspiring the

vitality of enterprises. The Company deeply implemented the “Double-Hundred Action” and

emphasized on comprehensive industrial system of ports with an aim to serve the national

development strategy optimize capital layout and improve industrial competitiveness. By focusing

on governance mechanism employment mechanism and incentive mechanism the Company has

made new progress in terms of promoting reform of equity diversification optimizing overseas

legal person governance system implementing a market-based selection and appointment

mechanism and strengthening the incentive-oriented role of salary thus further stimulated the deep

7China Merchants Port Group Co. Ltd. Interim Report 2023 (Summary)

vitality of the enterprise. In May 2023 SASAC of the State Council released the special appraisal

results of “Double-Hundred Enterprises” of 2022 and the Company received “Excellent” title for its

outstanding achievements and remarkable reform results.* In terms of comprehensive development making innovation on commercial mode and

conducting promotion to targeted industries. HIPG Industrial Park was occupied by 48

contracted enterprises and realized the introduction of key industries. It continuously enriches the

industrial layout and strengthens the joint development with ports. Djibouti International Free Trade

Zone was occupied by 332 contracted enterprises. Under the environment of interest rate hike and

unstable surrounding situation the land sales of the Djibouti park made a new record and the

overall operating results was stable and better than the same period last year. By leverage on

domestic and foreign ports and park resources the Company promoted the constructio n of the

exhibition center platform of “Made in Liaocheng” in the Djibouti Free Trade Zone to open up a

green channel for domestic commodities to enter and exit the port and promote the value chain to

extend upstream and downstream.* In terms of ESG construction included in “Pioneer” list and promoting harmonious

development. The Company actively implemented the ESG concept and continued to strengthen

the ESG governance by taking initiative to disclose ESG report aiming to be the world-class green

and intelligent comprehensive port service provider. In the first half of the year the Company

obtained many honors from the industry and the capital market for its long-term responsibility

management and performance. On 18 May at the 2023 Green and Safe Port Conference and the 2nd

Beibu Gulf Green Port Development Forum held by China Ports & Harbours Association Chiwan

Container Terminal Co. Ltd. and Shenzhen Magang Godown & Wharf Co. Ltd of West Shenzhen

homebase port both obtained a 4-star rating as “China Green Port” awarded by China Ports &

Harbours Association; on 13 June The Company was successfully selected into the "China ESG

Listed Companies First 100" list ranking 68th and third in the transportation industry.

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

Unit: RMB

H1 2023 H1 2022 Change (%) Main reason for change

Operating revenue 7795261570.99 8150462367.19 -4.36% -

Operating costs 4519943753.79 4637368881.65 -2.53% -

Administrative expense 790916154.65 812502660.55 -2.66% -

Finance costs 960449741.90 1351945047.67 -28.96% -

Income tax expense 613219852.56 619132978.15 -0.96% -

R&D Investments 121041310.72 114833178.50 5.41% -

Net cash generated

from/used in operating 2310845305.96 3221251177.09 -28.26% -

activities

Net cash generated Effects of changes in

from/used in investing -1225290440.51 -1863650103.30 34.25% structured deposits and

activities project investments

Effects of changes in

project financings

Net cash generated

dividend payout and

from/used in financing -210222809.39 126775022.25 -265.82%

expenditure on

activities

increasing holdings in

subsidiaries

Net increase in cash 989020982.66 1396165516.30 -29.16% -

8China Merchants Port Group Co. Ltd. Interim Report 2023 (Summary)

and cash equivalents

Increased gains from

Gains from changes in

143037303.68 -38026112.58 476.16% changes in fair value of

fair value

shares held

2. Matters Related to Financial Reporting

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

Compared to the Last Accounting Period

The Ministry of Finance issued Interpretation No. 16 for the Accounting Standards for BusinessEnterprises (C.K. [2022] No. 31) on 30 November 2022 which stipulates that the “accountingtreatments for deferred income taxes associated with assets and liabilities arising from a singletransaction to which the initial recognition exemption does not apply” shall take effect since 1

January 2023. In accordance with the aforesaid standard and regulations of the Ministry of Finance

the Company has adopted Interpretation No. 16 for the Accounting Standards for Business

Enterprises since 1 January 2023.

(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 except for the establishment of new subsidiaries the Company did not

have any changes in the scope of consolidation due to other reasons.China Merchants Port Group Co. Ltd.Board of Directors

Dated 31 August 2023

9