China Merchants Port Group Co. Ltd. The Report for the First Quarter of 2025
Stock Code: 001872/201872 Stock Name: CM Port Group/CM Port Group B Announcement No. 2025-033
CHINA MERCHANTS PORT GROUP CO. LTD.THE REPORT FOR THE FIRST QUARTER OF 2025
China Merchants Port Group Co. Ltd. (hereinafter referred to as the “Company”)
and all the members of the Company’s Board of Directors hereby guarantee that the
contents of this Report are factual accurate and complete and free of any
misrepresentations misleading statements or material omissions.Important Notes:
1. The Board of Directors (or the “Board”) the Supervisory Committee as well as the directors supervisors and
senior management of the Company hereby guarantee the factuality accuracy and completeness of the contents of
this Report and shall be jointly and severally liable for any misrepresentations misleading statements or material
omissions therein.
2. Xu Song the Company’s legal representative Huang Zhenzhou the Company’s Chief Financial Officer and
Liu Shixia the person-in-charge of the accounting organ hereby guarantee that the financial statements carried in
this Report are factual accurate and complete.
3. Indicate by tick mark whether the financial statements herein have been audited by an independent auditor.
□Yes √ No
4. Matters with modified audit opinions issued by independent auditors
□ Applicable √ Not applicable
5. Securities Times China Securities Journal Shanghai Securities News and http://www.cninfo.com.cn have been
designated by the Company for information disclosure. And all information about the Company shall be subject to
what’s disclosed on the aforesaid media.This Report has been prepared in both Chinese and English. Should there be any discrepancies or
misunderstandings between the two versions the Chinese version shall prevail.I Key Financial Information
(I) Key Accounting Data and Financial Indicators
Indicate by tick mark whether there is any retrospectively restated datum in the table below.□ Yes √ No
Q1 2025 Q1 2024 YoY change
Total operating income (RMB) 4214355369.19 3866684797.87 8.99%
Net profit attributable to
shareholders of the Company 1090726175.19 1036713969.25 5.21%
(RMB)
1China Merchants Port Group Co. Ltd. The Report for the First Quarter of 2025
Net profit attributable to
shareholders of the Company
1059858307.79812854501.4630.39%
after deducting non-recurring
gains and losses (RMB)
Net cash inflow from
1172302133.441423655572.28-17.66%
operating activities (RMB)
Basic earnings per share
0.440.417.32%
(RMB/share)
Diluted earnings per share
0.440.417.32%
(RMB/share)
Weighted average return on
1.77%1.75%0.02%
equity (%)
31 March 2025 31 December 2024 Change
Total assets (RMB) 204263241996.94 201517851881.45 1.36%
Equity attributable to
shareholders of the Company 62600706274.37 61502739842.96 1.79%
(RMB)
The total share capital at the end of the last trading session before the disclosure of this Report:
Total share capital at the end of the last trading session before
2501384781
the disclosure of this Report (share)
Diluted earnings per share based on the latest total share capital above:
Diluted earnings per share based on the latest total share
0.4360
capital above (RMB/share)
(II) Non-recurring gains and Losses
Unit: RMB
Item Q1 2025 Note
Gains or losses on disposal of non-current assets including those
charged off for which provision for impairment of assets has 16931453.01 -
been made
Government grants recognized in profit or loss (other than grants
which are closely related to the Company's business in line with
1021137.89-
the national regulations enjoyed under established standards and
have a continuous impact on the Company's profit or loss)
Gains or losses from changes in fair value of financial assets and
financial liabilities held by non-financial enterprises other than
effective hedging operation relating to the Company's normal 25722300.49 -
operations and gains or losses from disposal of financial assets
and financial liabilities
Income earned from lending funds to non-financial institutions
22961290.08-
and recognized in profit or loss
Reversal of provision for accounts receivable that are tested for 6093875.03 -
2China Merchants Port Group Co. Ltd. The Report for the First Quarter of 2025
impairment individually
Other non-operating income or expenses other than above 1974669.42 -
Less: Income tax effects 11700872.33 -
Effects of non-controlling interests (after tax) 32135986.19 -
Total 30867867.40 --
Other items that meet the definition of exceptional gain/loss:
□ Applicable √ Not applicable
No such cases.Explanation of the situation where the non-recurring gains and losses items listed in Interpretative Announcement
No. 1 of Companies Issuing Publicly Traded Securities - Non-Recurring Gains and Losses are defined as recurring
gains and losses items:
□ Applicable √ Not applicable
No such cases.(III) Changes in Key Financial Statement Line Items and Their Explanation
Unit: RMB
31 December
Balance sheet items 31 March 2025 Change Explanation of changes
2024
Mainly due to increase of
Financial assets held
8461955103.18 5685135472.01 48.84% the net balance of
for trading
structured deposits
Mainly due to the cyclical
Accounts receivable 1987365269.32 1193408383.78 66.53% influence of payment
collection
Mainly due to receipt of
Other receivables 777669208.86 1166499343.90 -33.33%
dividends from investees
Mainly due to increase in
Treasury shares 218204634.17 50559789.14 331.58%
repurchased shares
Income statement
Q1 2025 Q1 2024 Change Explanation of changes
items
Mainly due to decreased
gains from changes in the
Gains from changes
11616449.31 147051320.93 -92.10% fair value of other
in fair value
non-current financial assets
held in the current period
Mainly because a
subsidiary received an
Reversal of credit operating compensation
5383101.47317386566.39-98.30%
impairment from its minority
shareholders in the same
period of last year and the
3China Merchants Port Group Co. Ltd. The Report for the First Quarter of 2025
relevant impairment
provision established in the
prior period was reversed
while there were no
comparable matters in the
current period
Cash flow statement
Q1 2025 Q1 2024 Change Explanation of changes
items
Mainly because
Payment for other subsidiaries paid sea area
282954748.90183965871.1253.81%
operating activities usage fees on behalf of
others in the current period
Proceeds from Mainly due to increased
disposal of 8540000000.00 5080000000.00 68.11% redemption of structured
investments deposits upon maturity
Mainly due to increased
Investment returns dividend income from joint
794287190.17422126527.1088.16%
received ventures and associates in
the current period
Payment for
acquisition of fixed
Mainly due to increased
assets intangible 574353180.71 372944173.58 54.01%
purchase of fixed assets
assets and other
long-term assets
Payment for Mainly due to increased
acquisition of 11383606292.72 4640000000.00 145.34% purchase of structured
investments deposits
Mainly due to decreased
Repayments of repayments of borrowings
3570274776.805453578743.45-34.53%
borrowings that were due in the current
period
Mainly due to increased
Payment for other payments for share
189188006.31132219744.3943.09%
financing activities repurchases in the current
period
II Shareholder Information
(I) Numbers of Ordinary Shareholders and Preferred Shareholders with Resumed Voting
Rights as well as Holdings of Top 10 Shareholders
Unit: share
4China Merchants Port Group Co. Ltd. The Report for the First Quarter of 2025
35996
Number of ordinary Number of preferred shareholders with resumed
(25724 A-shareholders 0
shareholders voting rights (if any)
10272 B-shareholders)
Top 10 shareholders (exclusive of shares lent in refinancing)
Shareh Shares in pledge marked or
Nature of
olding Total shares Restricted frozen
Name of shareholder sharehold
percent held shares held
er Status Shares
age
CHINA MERCHANTS PORT Foreign
INVESTMENT DEVELOPMENT legal 45.92% 1148648648 0 - 0
COMPANY LIMITED person
ZHEJIANG PROVINCIAL State-own
SEAPORT INVESTMENT & ed legal 23.06% 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
SHENZHEN INFRASTRUCTURE Fund and
INVESTMENT FUND-SHENZHEN wealth
INFRASTRUCTURE managem
2.59%648501820-0
INVESTMENT FUND ent
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 0.62% 15610368 0 - 0
FUND
person
Foreign
HONG KONG SECURITIES
legal 0.24% 6011643 0 - 0
CLEARING COMPANY LTD.person
Fund and
THE CHINESE PEOPLE'S
wealth
PROPERTY INSURANCE CO.managem
LTD.－TRADITIONAL- 0.20% 5072521 0 - 0
ent
GENERAL INSURANCE
products
PRODUCT
etc.Domestic
ZOU YANMIN natural 0.18% 4396000 0 - 0
person
MORGAN STANLEY Foreign
0.12%29120000-0
INVESTMENT MANAGEMENT legal
5China Merchants Port Group Co. Ltd. The Report for the First Quarter of 2025
COMPANY-MORGAN STANLEY person
CHINA A FUND
Top 10 unrestricted shareholders
Shares by type
Name of shareholder Unrestricted shares held
Type Shares
CHINA MERCHANTS PORT INVESTMENT RMB ordinary
11486486481148648648
DEVELOPMENT COMPANY LIMITED share
CHINA MERCHANTS GANGTONG RMB ordinary
370878000370878000
DEVELOPMENT (SHENZHEN) CO. LTD. share
SHENZHEN INFRASTRUCTURE
INVESTMENT FUND-SHENZHEN RMB ordinary
6485018264850182
INFRASTRUCTURE INVESTMENT FUND share
PARTNERSHIP (LIMITED PARTNERSHIP)
Domestically
BROADFORD GLOBAL LIMITED 55314208 listed foreign 55314208
share
RMB ordinary
CHINA-AFRICA DEVELOPMENT FUND 15610368 15610368
share
HONG KONG SECURITIES CLEARING RMB ordinary
60116436011643
COMPANY LTD share
THE CHINESE PEOPLE'S PROPERTY
RMB ordinary
INSURANCE CO. LTD.－TRADITIONAL- 5072521 5072521
share
GENERAL INSURANCE PRODUCT
Domestically
ZOU YANMIN 4396000 listed foreign 4396000
share
MORGAN STANLEY INVESTMENT
RMB ordinary
MANAGEMENT COMPANY-MORGAN 2912000 2912000
share
STANLEY CHINA A FUND
Domestically
QIAN GUANGHAI 2768000 listed foreign 2768000
share
1. Broadford Global Limited is entrusted to manage the 74.66% shares of Rainbow Reflection
Limited held by China Merchants Holdings (Hong Kong) Company Limited and China
Merchants Port Investment Development Company Limited is the wholly-owned subsidiary of
Related or acting-in-concert
Rainbow Reflection Limited.parties among the shareholders
2. Broadford Global Limited is the controlling shareholder of China Merchants Gangtong
above
Development (Shenzhen) Co. Ltd.The Company does not know whether the other unrestricted shareholders are related parties or
not.Top 10 shareholders involved in
N/A
securities margin trading (if any)
6China Merchants Port Group Co. Ltd. The Report for the First Quarter of 2025
Note: As of the end of the Reporting Period among the top 10 shareholders of the Company there was a "Special
Securities Account for Repurchased Shares of China Merchants Port Group Co. Ltd.". There were 11155474
repurchased shares in the account accounting for 0.45% of the Company's total share capital.
5% or greater shareholders top 10 shareholders and Top 10 unrestricted shareholders involved in refinancing
shares lending
□ Applicable √ Not applicable
Changes in top 10 shareholders and top 10 unrestricted shareholders due to refinancing shares lending/return
compared with the prior period
□ Applicable √ Not applicable
(II) Number of Preferred Shareholders and Shareholdings of Top 10 of Them
□ Applicable √ Not applicable
III Other Significant Events
To effectively promote the enhancement of the listed company's investment value increase investor returns and
protect the legitimate rights and interests of the Company investors and other stakeholders the Company actively
responds to and implements regulatory requirements. Based on the Company’s specific situation a valuation
enhancement plan has been developed. The Company will focus on improving the quality of the listed company
enhancing operational efficiency and profitability and legally and compliantly using methods such as share
repurchases and cash dividends to promote the increase of the Company’s investment value.In accordance with relevant provisions such as the Company Law of the People's Republic of China the Securities
Law of the People's Republic of China the Several Opinions of the State Council on Strengthening Supervision
Preventing Risks and Promoting the High-Quality Development of the Capital Market the Administrative
Measures for Information Disclosure of Listed Companies the Guidance No. 10 on Market Value Management
for Listed Companies the Articles of Association etc. the Company held the First Extraordinary Meeting of the
11th Board of Directors in 2025 on 27 February 2025 and passed the proposal on the Valuation Enhancement
Plan. For specific details please refer to the Valuation Enhancement Plan disclosed on www.cninfo.com.cn on 28
February 2025 (Announcement No.: 2025-007).
7China Merchants Port Group Co. Ltd. The Report for the First Quarter of 2025
IV Quarterly Financial Statements
(I) Financial Statements
1. Consolidated Balance Sheet
Prepared by China Merchants Port Group Co. Ltd.
31 March 2025
Unit: RMB
Item 31 March 2025 1 January 2025
Current assets:
Cash and bank balances 14806669856.63 16630400701.13
Settlement reserve
Interbank loans granted
Financial assets held for trading 8461955103.18 5685135472.01
Derivative financial assets
Bills receivable 197333215.20 270127883.63
Accounts receivable 1987365269.32 1193408383.78
Receivables under financing
Prepayments 74667782.50 59177117.22
Premiums receivable
Reinsurance receivables
Receivable reinsurance contract
reserve
Other receivables 777669208.86 1166499343.90
Including: Interest receivable
Dividend receivable 203940612.52 554387723.94
Purchased and resold financial assets
Inventories 288334578.47 269958020.34
Including: Data resource
Contract assets
Assets held for sale
Non-current assets due within one year 35007241.85 34997992.08
Other current assets 222788244.74 251697812.77
Total current assets 26851790500.75 25561402726.86
Non-current assets:
Loans and advances to customers
Investments in debt obligations
Investments in other debt obligations
8China Merchants Port Group Co. Ltd. The Report for the First Quarter of 2025
Long-term receivables 3811065261.72 3777373574.70
Long-term equity investments 100949575170.07 100018029894.96
Investments in other equity
139451887.05139451887.05
instruments
Other non-current financial assets 28524600.31 28524600.31
Investment properties 3256776476.42 3288690070.60
Fixed assets 30390452143.64 30689217791.45
Construction in progress 3511967476.09 3311109996.59
Productive living assets
Oil and gas assets
Right-of-use assets 8982547605.04 8957352063.54
Intangible assets 17524450088.64 17335082422.84
Including: Data resource 6091745.32 6251120.27
Development costs 35979040.22 63395053.69
Including: Data resource
Goodwill 6116425469.13 5933310929.34
Long-term prepaid expenses 917487725.33 940404479.94
Deferred tax assets 368079660.07 365481207.77
Other non-current assets 1378668892.46 1109025181.81
Total non-current assets 177411451496.19 175956449154.59
Total assets 204263241996.94 201517851881.45
Current liabilities:
Short-term borrowings 10848619498.30 12791242141.69
Borrowings from the central bank
Interbank loans obtained
Held-for-trading financial liabilities
Derivative financial liabilities
Notes payable 1536194.00
Accounts payable 638204483.44 785830532.33
Advance payments received 15419584.79 14576237.84
Contract liabilities 312494733.22 267888272.62
Financial assets sold under repurchase
agreements
Customer deposits and interbank
deposits
Payables for acting trading of
securities
Payables for underwriting of securities
Employee benefits payable 920942347.83 1168592349.15
9China Merchants Port Group Co. Ltd. The Report for the First Quarter of 2025
Taxes payable 733493365.38 725165726.32
Other payables 1939916208.16 1923980312.98
Including: Interest payable
Dividends payable 146385736.99 132334744.28
Handling charges and commissions
payable
Reinsurance payables
Liabilities directly associated with
assets held for sale
Non-current liabilities due within one
10668136258.3710506682795.60
year
Other current liabilities 4090090321.20 4061201760.72
Total current liabilities 30167316800.69 32246696323.25
Non-current liabilities:
Insurance contract reserve
Long-term borrowings 15576449507.77 15582593255.65
Bonds payable 15867294284.76 13875559119.52
Including: Preferred shares
Perpetual bonds
Lease liabilities 1496994783.99 1387206990.51
Long-term payables 3435298052.16 3204582672.75
Long-term employee benefits payable 652061319.43 655658044.98
Provisions 165818602.26 159435795.50
Deferred income 1256350270.84 1268975316.61
Deferred tax liabilities 4910140522.58 4795985333.59
Other non-current liabilities 176481868.58 182720254.84
Total non-current liabilities 43536889212.37 41112716783.95
Total liabilities 73704206013.06 73359413107.20
Shareholders' equity:
Share capital 2501384781.00 2501308481.00
Other equity instruments
Including: Preferred shares
Perpetual bonds
Capital reserve 37359295965.85 37362981831.67
Less: Treasury stock 218204634.17 50559789.14
Other comprehensive income -1391291892.17 -1558381237.45
Specific reserve 50577869.10 40074647.27
Surplus reserves 1249537330.50 1249537330.50
General reserve
10China Merchants Port Group Co. Ltd. The Report for the First Quarter of 2025
Retained earnings 23049406854.26 21957778579.11
Total shareholders' equity attributable to
62600706274.3761502739842.96
shareholders of the Company
Non-controlling interests 67958329709.51 66655698931.29
Total shareholders' equity 130559035983.88 128158438774.25
Total liabilities and shareholders' equity 204263241996.94 201517851881.45
Legal Representative: Xu Song
Chief Financial Officer: Huang Zhenzhou
Head of Accounting Department: Liu Shixia
11China Merchants Port Group Co. Ltd. The Report for the First Quarter of 2025
2. Consolidated Income Statement
Unit: RMB
Item Q1 2025 Q1 2024
1. Total operating income 4214355369.19 3866684797.87
Including: Operating income 4214355369.19 3866684797.87
Interest income
Premium income
Handling charge and commission income
2. Total operating costs 3189038065.34 3245856053.42
Including: Operating costs 2245844139.20 2166647172.05
Interest expense
Handling charge and commission expense
Surrenders
Net claims paid
Net amount provided as policy reserve
Expenditure on policy dividends
Reinsurance premium expense
Taxes and surcharges 90627401.15 80797651.01
Selling and distribution expenses
General and administrative expenses 367556368.59 404257134.50
Research and development expenses 46195951.47 38342010.57
Finance expenses 438814204.93 555812085.29
Including: Interest expense 544396368.32 593698496.94
Interest income 97076599.76 107481452.37
Add: Other income 14993894.21 19365152.13
Investment income (Loss is marked with "-") 1421217121.49 1324200287.75
Including: Income from investments in
1390784259.811309684765.64
associates and joint ventures
Income from the derecognition of
financial assets at amortized cost
(Loss is marked with "-")
Foreign exchange gain (Loss is marked with "-")
Net gain on exposure hedges (Loss is marked
with "-")
Gains from changes in fair value (Loss is marked 11616449.31 147051320.93
12China Merchants Port Group Co. Ltd. The Report for the First Quarter of 2025
with "-" )
Reversal of credit impairment 5383101.47 317386566.39
Impairment losses (Loss is marked with "-" )
Gains from assets disposals (Loss is marked with
581588.58569564.20
"-")
3. Operating profit (Loss is marked with "-") 2479109458.91 2429401635.85
Add: Non-operating income 7563676.87 6269913.85
Less: Non-operating expenses 5566153.52 5611201.34
4. Profit before income tax (Loss is marked with "-") 2481106982.26 2430060348.36
Less: Income tax expenses 343740895.76 339494816.71
5. Net profit (Loss is marked with "-") 2137366086.50 2090565531.65
5.1 Net profit classified by continuity of operations
5.1.1 Net profit from continuing operation (Loss is
2137366086.502090565531.65
marked with "-")
5.1.2 Net profit from discontinued operation (Loss
is marked with "-")
5.2 Net profit classified by ownership
5.2.1 Net profit attributable to shareholders of the
1090726175.191036713969.25
Company
5.2.2 Net profit attributable to non-controlling
1046639911.311053851562.40
interests
6. Other comprehensive income net of tax 470386805.58 -295783519.94
Other comprehensive income attributable to
167089345.28-118098265.76
shareholders of the Company net of tax
6.1 Other comprehensive income that will not be
-4571653.52
reclassified to profit or loss
6.1.1 Remeasurement of defined benefit plan -4571653.52
6.1.2 Other comprehensive income recognised
under the equity method
6.1.3 Changes in fair value of investments in other
equity instruments
6.1.4 Changes in fair value of entity’s own credit
risk
6.1.5 Others
6.2 Other comprehensive income that will be
171660998.80-118098265.76
reclassified to profit or loss
6.2.1 Other comprehensive income recognised -1208564.98
13China Merchants Port Group Co. Ltd. The Report for the First Quarter of 2025
under the equity method
6.2.2 Changes in fair value of other debt
investments
6.2.3 Amount of financial assets reclassified into
other comprehensive income
6.2.4 Credit losses of other debt investments
6.2.5 Cash flow hedge reserve
6.2.6 Translation differences arising from translation
171660998.80-116889700.78
of foreign currency financial statements
6.2.7 Others
Other comprehensive income (net of tax) attributable
303297460.30-177685254.18
to non-controlling interests
7. Total comprehensive income attributable to 2607752892.08 1794782011.71
Shareholders of the Company 1257815520.47 918615703.49
Non-controlling interests 1349937371.61 876166308.22
8. Earnings per share
8.1 Basic earnings per share 0.44 0.41
8.2 Diluted earnings per share 0.44 0.41
14China Merchants Port Group Co. Ltd. The Report for the First Quarter of 2025
3. Consolidated Cash Flow Statement
Unit: RMB
Item Q1 2025 Q1 2024
1. Cash flows from operating activities:
Proceeds from sales of goods and
3684477861.563424449441.43
rendering of services
Net increase in customer deposits and
interbank deposits
Net increase in borrowings from the
central bank
Net increase in loans from other
financial institutions
Premiums received on original
insurance contracts
Net proceeds from reinsurance
Net increase in deposits and
investments of policy holders
Interest handling charges and
commissions received
Net increase in interbank loans
obtained
Net increase in proceeds from
repurchase transactions
Net proceeds from acting trading of
securities
Refund of taxes 21188158.05 10772630.44
Proceeds from other operating
428603311.74610116372.00
activities
Sub-total of cash inflows 4134269331.35 4045338443.87
Payments for goods and services 1220236580.43 1000139104.50
Net increase in loans and advances to
customers
Net increase in deposits in the central
bank and in interbank loans granted
Payments for claims on original
insurance contracts
Net increase in interbank loans granted
15China Merchants Port Group Co. Ltd. The Report for the First Quarter of 2025
Interest handling charges and
commissions paid
Policy dividends paid
Payment to and for employees 1140462905.40 1082136285.55
Payments of various taxes 318312963.18 355441610.42
Payment for other operating activities 282954748.90 183965871.12
Sub-total of cash outflows 2961967197.91 2621682871.59
Net cash flows from operating activities 1172302133.44 1423655572.28
2. Cash flows from investing activities:
Proceeds from disposals of
8540000000.005080000000.00
investments
Investment returns received 794287190.17 422126527.10
Net proceeds from disposal of fixed
assets intangible assets and other 51104425.10 2873657.67
long-term assets
Net proceeds from disposal of
subsidiaries and other operating units
Proceeds from other investing
activities
Sub-total of cash inflows 9385391615.27 5505000184.77
Payments for acquisition of fixed
assets intangible assets and other 574353180.71 372944173.58
long-term assets
Payments for acquisition of
11383606292.724640000000.00
investments
Net increase in pledged loans granted
Net cash payments for acquisitions of
subsidiaries and other business units
Payments for other investing activities 2079654.20 2731881.29
Sub-total of cash outflows 11960039127.63 5015676054.87
Net cash flows from investing activities -2574647512.36 489324129.90
3. Cash flows from financing activities:
Proceeds from investors 3332285.00 6077019.70
Including: Proceeds from
non-controlling shareholders of
subsidiaries
Proceeds from borrowings 3850487443.47 4132378428.59
16China Merchants Port Group Co. Ltd. The Report for the First Quarter of 2025
Proceeds from other financing
378149.5540225272.74
activities
Sub-total of cash inflows 3854197878.02 4178680721.03
Repayments of borrowings 3570274776.80 5453578743.45
Payments for dividends profits
515796307.01554062895.18
distributions or interest
Including: Dividends and profits
paid to non-controlling shareholder 77947496.42 9330110.48
of subsidiaries
Payments for other financing activities 189188006.31 132219744.39
Sub-total of cash outflows 4275259090.12 6139861383.02
Net cash flows from financing activities -421061212.10 -1961180661.99
4. Effect of foreign exchange rate
41731404.51-11751226.58
changes on cash and cash equivalents
5. Net increase in cash and cash
-1781675186.51-59952186.39
equivalents
Add: Cash and cash equivalents at the
16521877509.7716018613631.10
beginning of the year
6. Cash and cash equivalents at the end
14740202323.2615958661444.71
of the period
17China Merchants Port Group Co. Ltd. The Report for the First Quarter of 2025
(II) Adjustments to Financial Statement Items at the Beginning of the Year of the First
Implementation of the New Accounting Standards Implemented since 2025
□ Applicable √ Not applicable
(III) Independent Auditor’s Report
Indicate by tick mark whether the financial statements above have been audited by an independent auditor.□Yes √ No
These financial statements have not been audited by such an auditor.The Board of Directors
China Merchants Port Group Co. Ltd.
30 April 2025
18
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