China Merchants Port Group Co. Ltd. The Report for the First Quarter of 2026
Stock Code: 001872/201872 Stock Name: CM Port Group/CM Port Group B Announcement No. 2026-020
CHINAMERCHANTS PORTGROUPCO. LTD.THE REPORT FOR THE FIRST QUARTER OF 2026
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”) as well as the directors 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. 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 2026 Q1 2025 YoY change
Total operating income (RMB) 4407582949.96 4214355369.19 4.58%
Net profit attributable to
shareholders of the Company 1131939432.33 1090726175.19 3.78%
(RMB)
Net profit attributable to
shareholders of the Company 1090669980.44 1059858307.79 2.91%
after deducting non-recurring
1China Merchants Port Group Co. Ltd. The Report for the First Quarter of 2026
profit or loss (RMB)
Net cash inflow from
1070694734.731172302133.44-8.67%
operating activities (RMB)
Basic earnings per share
0.460.444.55%
(RMB/share)
Diluted earnings per share
0.460.444.55%
(RMB/share)
Weighted average return on
1.74%1.77%-0.03%
equity
31 March 2026 31 December 2025 Change
Total assets (RMB) 205110704568.01 205014697494.68 0.05%
Equity attributable to
shareholders of the Company 65605568538.55 64365829932.20 1.93%
(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
2481897185
session before 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
0.4561
share capital above (RMB/share)
(II) Non-recurring profit or loss
Unit: RMB
Item Q1 2026 Note
Gains or losses on disposal of non-current assets including those
charged off for which provision for impairment of assets has 3518065.17 -
been made
Government grants recognised in profit or loss (other than grants
which are closely related to the Company’s business in line with
25064530.19-
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 31829623.09 -
operations and gains or losses from disposal of financial assets
and financial liabilities
Income earned from lending funds to non-financial institutions
24896734.99-
and recognised in profit or loss
Other non-operating income or expenses other than above -163905.62 -
Less: Income tax effects 11482449.15 -
Effects of non-controlling interests (after tax) 32393146.78 -
Total 41269451.89 --
2China Merchants Port Group Co. Ltd. The Report for the First Quarter of 2026
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 classified as
recurring gains and losses items:
□ Applicable √ Not applicable
The Company did not classify any gain or loss item listed in Interpretative Announcement No. 1 of Companies
Issuing Publicly Traded Securities - Non-Recurring Gains and Losses as a recurring gain or loss item.(III) Changes in Key Financial Statement Line Items and Their Explanation
Unit: RMB
Explanation of
Balance sheet items 31 March 2026 31 December 2025 Change
changes
Mainly due to the
Accounts receivable 2133113071.44 1297166857.70 64.44% cyclical influence of
payment collection
Mainly due to receipt
Other receivables 666621068.12 1012655278.64 -34.17% of dividends from
investees
Mainly due to the
Other current assets 274551507.83 158947975.17 72.73% increase in prepaid
income tax
Mainly due to the
Non-current liabilities
8250979292.17 6042522685.33 36.55% increase in borrowings
due within one year
due within one year
Explanation of
Income statement items Q1 2026 Q1 2025 Change
changes
Mainly due to the
increase in
Other income 38362454.75 14993894.21 155.85%
government grants
received
Cash flow statement Explanation of
Q1 2026 Q1 2025 Change
items changes
Mainly because
subsidiaries on behalf
Proceeds from other
138737418.21 428603311.74 -67.63% of the competent
operating activities authorities collected
marine area usage fees
from their clients in
3China Merchants Port Group Co. Ltd. The Report for the First Quarter of 2026
the prior period
Mainly due to the
Payment of various increase in prepaid
478282631.84318312963.1850.26%
taxes taxes in the current
period
Mainly because
subsidiaries on behalf
of their clients paid
Payment for other
143284334.59 282954748.90 -49.36% marine area usage fees
operating activities
to the competent
authorities in the prior
period
Mainly due to the
Proceeds from disposal increased redemption
15974000000.008540000000.0087.05%
of investments of structured deposits
upon maturity
Mainly due to the
Payment for acquisition increased purchase of
15880000000.0011383606292.7239.50%
of investments structured deposits in
the current period
Mainly due to the
Proceeds from decrease in borrowings
2441363299.603850487443.47-36.60%
borrowings obtained in the current
period
II Use of Raised Funds
□ Applicable √ Not applicable
No such cases in the Reporting Period.III Shareholder Information
(I) Numbers of Ordinary Shareholders and Preferred Shareholders with Resumed Voting
Rights as well as Holdings of Top 10 Shareholders
Unit: share
27245
Number of ordinary Number of preferred shareholders with resumed
(17534 A-shareholders 0
shareholders at the period-end voting rights at the period-end (if any)
and 9711 B-shareholders)
Top 10 shareholders (exclusive of shares lent in refinancing)
Nature of Shareh Total shares Restricted Shares in pledge marked or
Name of shareholder
shareholder olding held shares held frozen
4China Merchants Port Group Co. Ltd. The Report for the First Quarter of 2026
percent
age Status Shares
China Merchants Port Investment Overseas
46.28%11486486480-0
Development Company Limited legal person
Zhejiang Provincial Seaport
State-owned
Investment & Operation Group Co. 23.24% 576709537 0 - 0
legal person
Ltd.China Merchants Gangtong State-owned
14.94%3708780000-0
Development (Shenzhen) Co. Ltd. legal person
Shenzhen Infrastructure Investment Fund and
Fund-Shenzhen Infrastructure wealth
2.61%648501820-0
Investment Fund Partnership management
(Limited Partnership) products etc.State-owned
Broadford Global Limited 2.23% 55314208 0 - 0
legal person
State-owned
China-Africa Development Fund 0.63% 15610368 0 - 0
legal person
Hong Kong Securities Clearing Overseas
0.60%149251350-0
Company Ltd. legal person
Domestic
Zou Yanmin natural 0.32% 7981028 0 - 0
person
Domestic
Li Runrong natural 0.24% 6017675 0 - 0
person
Monetary Authority of Macao－Own Overseas
0.24%59597590-0
Funds legal person
Top 10 unrestricted shareholders
Shares by type
Name of shareholder Unrestricted shares held
Type Shares
China Merchants Port Investment Development RMB ordinary
11486486481148648648
Company Limited share
Zhejiang Provincial Seaport Investment & Operation RMB ordinary
576709537576709537
Group Co. Ltd. share
China Merchants Gangtong Development RMB ordinary
370878000370878000
(Shenzhen) Co. Ltd. share
Shenzhen Infrastructure Investment Fund-Shenzhen
RMB ordinary
Infrastructure Investment Fund Partnership (Limited 64850182 64850182
share
Partnership)
5China Merchants Port Group Co. Ltd. The Report for the First Quarter of 2026
Domestically
Broadford Global Limited 55314208 listed overseas 55314208
share
RMB ordinary
China-Africa Development Fund 15610368 15610368
share
RMB ordinary
Hong Kong Securities Clearing Company Ltd. 14925135 14925135
share
Domestically
Zou Yanmin 7981028 listed overseas 7981028
share
RMB ordinary
Li Runrong 6017675 6017675
share
RMB ordinary
Monetary Authority of Macao－Own Funds 5959759 5959759
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 parties Rainbow Reflection Limited.among the shareholders above 2. Broadford Global Limited is the controlling shareholder of China Merchants Gangtong
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)
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
IV Other Significant Events
□ Applicable √ Not applicable
6China Merchants Port Group Co. Ltd. The Report for the First Quarter of 2026
V Quarterly Financial Statements
(I) Financial Statements
1. Consolidated Balance Sheet
Prepared by China Merchants Port Group Co. Ltd.
31 March 2026
Unit: RMB
Item 31 March 2026 1 January 2026
Current assets:
Cash and bank balances 14909569111.17 15374846360.79
Settlement reserve
Interbank loans granted
Financial assets held for trading 7490315001.38 7578824365.75
Derivative financial assets
Bills receivable 128173785.23 151029884.15
Accounts receivable 2133113071.44 1297166857.70
Receivables under financing 98086956.97 114680738.25
Prepayments 99935525.19 82819198.95
Premiums receivable
Reinsurance receivables
Receivable reinsurance contract
reserve
Other receivables 666621068.12 1012655278.64
Including: Interest receivable
Dividends receivable 222448002.38 576943449.36
Purchased and resold financial assets
Inventories 293328363.02 307216425.15
Including: Data resources
Contract assets
Assets held for sale
Non-current assets due within one year 539722.23
Other current assets 274551507.83 158947975.17
Total current assets 26094234112.58 26078187084.55
Non-current assets:
Loans and advances to customers
Investments in debt obligations
Investments in other debt obligations
7China Merchants Port Group Co. Ltd. The Report for the First Quarter of 2026
Long-term receivables 3918230599.11 3874516647.46
Long-term equity investments 103694237073.27 103073100064.87
Investments in other equity
141766365.17141766365.15
instruments
Other non-current financial assets 28768810.95 28768810.95
Investment properties 3125685879.17 3157951323.78
Fixed assets 29942617568.14 30442884297.82
Construction in progress 3621815548.77 3403583431.48
Productive living assets
Oil and gas assets
Right-of-use assets 8770384879.32 8965304928.17
Intangible assets 17460004048.88 17643855579.95
Including: Data resources
Development costs 25164148.35 34234599.73
Including: Data resources
Goodwill 6241975686.74 6176416050.77
Long-term deferred expenses 899657788.34 919719245.18
Deferred tax assets 341387221.90 355487521.84
Other non-current assets 804774837.32 718921542.98
Total non-current assets 179016470455.43 178936510410.13
Total assets 205110704568.01 205014697494.68
Current liabilities:
Short-term borrowings 18003053865.15 19775820831.32
Borrowings from the central bank
Interbank loans obtained
Financial liabilities held for trading
Derivative financial liabilities
Bills payable
Accounts payable 710443348.32 739900492.35
Advance payments received 17668105.68 12191454.52
Contract liabilities 513421974.73 446822948.79
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 1081376555.27 1297834679.20
8China Merchants Port Group Co. Ltd. The Report for the First Quarter of 2026
Taxes payable 953966958.36 913284472.54
Other payables 1975755753.40 2034923078.95
Including: Interest payable
Dividends payable 135169470.79 135169470.79
Handling charges and commissions
payable
Reinsurance payables
Liabilities held for sale
Non-current liabilities due within one
8250979292.176042522685.33
year
Other current liabilities 2171442975.42 2199301417.02
Total current liabilities 33678108828.50 33462602060.02
Non-current liabilities:
Insurance contract reserve
Long-term borrowings 5450380208.17 7439956123.50
Bonds payable 20561021648.78 20709787532.29
Including: Preference shares
Perpetual bonds
Lease liabilities 1681592370.07 1690860832.08
Long-term payables 3570001374.42 3721605292.07
Long-term employee benefits payable 536919153.18 546386377.62
Provisions 186616455.54 185493182.45
Deferred income 911242939.13 923349449.41
Deferred tax liabilities 4931787202.38 4869165969.03
Other non-current liabilities 158623915.64 164442477.36
Total non-current liabilities 37988185267.31 40251047235.81
Total liabilities 71666294095.81 73713649295.83
Shareholders’ equity:
Share capital 2481897185.00 2481842185.00
Other equity instruments
Including: Preferred shares
Perpetual bonds
Capital reserve 36817343364.09 36816586615.98
Less: Treasury shares
Other comprehensive income -872765431.30 -969163426.51
Specific reserve 67868081.09 57278650.39
Surplus reserve 1249537330.50 1249537330.50
General reserve
Retained earnings 25861688009.17 24729748576.84
9China Merchants Port Group Co. Ltd. The Report for the First Quarter of 2026
Total equity attributable to shareholders
65605568538.5564365829932.20
of the Company
Non-controlling interests 67838841933.65 66935218266.65
Total shareholders’ equity 133444410472.20 131301048198.85
Total liabilities and shareholders’ equity 205110704568.01 205014697494.68
Legal Representative: Xu Song
Chief Financial Officer: Huang Zhenzhou
Head of Accounting Department: Liu Shixia
10China Merchants Port Group Co. Ltd. The Report for the First Quarter of 2026
2. Consolidated Income Statement
Unit: RMB
Item Q1 2026 Q1 2025
1. Total operating income 4407582949.96 4214355369.19
Including: Operating income 4407582949.96 4214355369.19
Interest income
Premium income
Handling charge and commission income
2. Total operating costs 3147548137.69 3189038065.34
Including: Operating costs 2312689964.55 2245844139.20
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 98178667.09 90627401.15
Selling and distribution expenses
General and administrative expenses 363864513.72 367556368.59
Research and development expenses 50141771.44 46195951.47
Financial expenses 322673220.89 438814204.93
Including: Interest expenses 450799969.08 544396368.32
Interest income 82099984.99 97076599.76
Add: Other income 38362454.75 14993894.21
Investment income ("-"for losses) 1303646891.83 1421217121.49
Including: Income from investments in
1282908805.741390784259.81
associates and joint ventures
Income arising from the
derecognition of financial assets
measured at amortized cost
Foreign exchange gain ("-"for losses)
Net exposure hedging income (“-” for losses)
Gains from changes in fair value ("-"for losses) 11091537.00 11616449.31
Reversal of credit impairment 2625868.77 5383101.47
11China Merchants Port Group Co. Ltd. The Report for the First Quarter of 2026
Impairment losses ("-"for losses)
Gains from asset disposals ("-"for losses) 4674155.13 581588.58
3. Operating profit 2620435719.75 2479109458.91
Add: Non-operating income 5542197.56 7563676.87
Less: Non-operating expenses 6862193.14 5566153.52
4. Profit before income tax 2619115724.17 2481106982.26
Less: Income tax expenses 409567050.22 343740895.76
5. Net profit 2209548673.95 2137366086.50
5.1 Net profit classified by continuity of operations
5.1.1 Net profit from continuing operation 2209548673.95 2137366086.50
5.1.2 Net profit from discontinued operation
5.2 Net profit classified by ownership
5.2.1 Attributable to shareholders of the Company 1131939432.33 1090726175.19
5.2.2 Non-controlling interests 1077609241.62 1046639911.31
6. Other comprehensive income net of tax -6071582.80 470386805.58
Other comprehensive income (net of tax) attributable
96397995.21167089345.28
to shareholders of the Company
6.1 Items that will not be reclassified to profit or loss -4571653.52
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 Items that will be reclassified to profit or loss 96397995.21 171660998.80
6.2.1 Other comprehensive income recognised
-2453.09
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 96400448.30 171660998.80
12China Merchants Port Group Co. Ltd. The Report for the First Quarter of 2026
of foreign currency financial statements
6.2.7 Others
Other comprehensive income (net of tax) attributable
-102469578.01303297460.30
to non-controlling interests
7. Total comprehensive income 2203477091.15 2607752892.08
Attributable to shareholders of the Company 1228337427.54 1257815520.47
Attributable to non-controlling interests 975139663.61 1349937371.61
8. Earnings per share
8.1 Basic earnings per share (RMB/share) 0.46 0.44
8.2 Diluted earnings per share (RMB/share) 0.46 0.44
13China Merchants Port Group Co. Ltd. The Report for the First Quarter of 2026
3. Consolidated Cash Flow Statement
Unit: RMB
Item Q1 2026 Q1 2025
1. Cash flows from operating activities:
Proceeds from sale of goods and
3772681650.943684477861.56
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 5459926.39 21188158.05
Proceeds from other operating
138737418.21428603311.74
activities
Sub-total of cash inflows 3916878995.54 4134269331.35
Payment for goods and services 1094668329.64 1220236580.43
Net increase in loans and advances to
customers
Net increase in deposits in the central
bank and in interbank loans granted
Payment for claims on original
insurance contracts
Net increase in interbank loans granted
14China Merchants Port Group Co. Ltd. The Report for the First Quarter of 2026
Interest handling charges and
commissions paid
Policy dividends paid
Payment to and for employees 1129948964.74 1140462905.40
Payment of various taxes 478282631.84 318312963.18
Payment for other operating activities 143284334.59 282954748.90
Sub-total of cash outflows 2846184260.81 2961967197.91
Net cash inflow from operating activities 1070694734.73 1172302133.44
2. Cash flows from investing activities:
Proceeds from disposal of investments 15974000000.00 8540000000.00
Investment returns received 780256034.63 794287190.17
Net proceeds from disposal of fixed
assets intangible assets and other 2477710.89 51104425.10
long-term assets
Net proceeds from disposal of
subsidiaries and other business units
Proceeds from other investing
30000000.00
activities
Sub-total of cash inflows 16786733745.52 9385391615.27
Payment for acquisition of fixed
assets intangible assets and other 432485210.63 574353180.71
long-term assets
Payment for acquisition of
15880000000.0011383606292.72
investments
Net increase in pledged loans granted
Net payment for acquisition of
subsidiaries and other business units
Payment for other investing activities 4423.77 2079654.20
Sub-total of cash outflows 16312489634.40 11960039127.63
Net cash inflow from investing activities 474244111.12 -2574647512.36
3. Cash flows from financing activities:
Proceeds from investors 852096.11 3332285.00
Including: Proceeds from
non-controlling shareholders of
subsidiaries
Proceeds from borrowings 2441363299.60 3850487443.47
Proceeds from other financing 501160.12 378149.55
15China Merchants Port Group Co. Ltd. The Report for the First Quarter of 2026
activities
Sub-total of cash inflows 2442716555.83 3854197878.02
Repayments of borrowings 3719666476.32 3570274776.80
Payment for dividends profits
428705842.22515796307.01
distributions or interest
Including: Dividends and profits
paid to non-controlling shareholders 81229900.00 77947496.42
of subsidiaries
Payment for other financing activities 171265510.60 189188006.31
Sub-total of cash outflows 4319637829.14 4275259090.12
Net cash outflow from financing
-1876921273.31-421061212.10
activities
4. Effect of foreign exchange rate
-77295006.6741731404.51
changes on cash and cash equivalents
5. Net increase in cash and cash
-409277434.13-1781675186.51
equivalents
Add: Cash and cash equivalents at the
15244357662.0416521877509.77
beginning of the year
6. Cash and cash equivalents at the end
14835080227.9114740202323.26
of the period
16China Merchants Port Group Co. Ltd. The Report for the First Quarter of 2026
(II) Adjustments to Financial Statement Items at the Beginning of the Year of the First
Implementation of the New Accounting Standards Implemented since 2026
□ 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 2026
17
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