招港B：2018年年度报告（英文版）.PDF

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1、China Merchants Port Group Co., Ltd. Annual Report 2018 CHINA MERCHANTS PORT GROUP CO., LTD. ANNUAL REPORT 2018 Date of Disclosure: 30 March 2019 China Merchants Port Group Co., Ltd. Annual Report 2018 Chairmans Statement Dear shareholders, I hereby present to you the annual report of China Merchant

2、s Port Group Co., Ltd. and its subsidiaries (the “Company”) for the year ended 31 December 2018. On behalf of the Board, I would like to express my sincere gratitude to all of you for your long-term support to the Company. On 26 December 2018, the Company completed the assets restructuring, the chan

3、ge of company name and its listing on the SZSE. Following the change of name to “China Merchants Port Group Co., Ltd.”, its strategic positioning underwent remarkable transformation and enhancement, and it evolved from a port operator in Chiwan Wharf, West Shenzhen Port Zone, to a globally leading p

4、ort developer, investor and operator. As a result of the restructuring, the Company became a crucial vehicle for CMG to implement the “Belt and Road” Initiative promoted by China and the “Guangdong-Hong Kong-Macao Greater Bay Area” strategy. Serving not only as the headquarters of CMGs port sector,

5、the Company is also the operating and management platform for the port assets and tier one capital of CMG, hence playing a key role in the consolidation and synergistic development of CMGs port assets. Looking ahead, the Company aims to become a world-class integrated port service provider. With a f

6、ocus on core port businesses, it will take part in international port investment, development and operation under the development model for the port ecosystem. Meanwhile, it will continue to expand along the value chain and establish an integrated port network service system that connects the world,

7、 so as to achieve scientific planning and balanced development on a global level. By offering top-notch and professional solutions, it will become customers partner of choice for cooperation, which will create greater value for the Company, enhance return for shareholders, support local economies an

8、d global trade, and contribute to the healthy development of the port industry. Review for the year Since 2018, the global economy has in general maintained its growth momentum but on a shaky ground. The economic and political conditions have been increasingly complicated. Trade frictions provoked b

9、y the United States against numerous countries and regions worldwide have impacted corporate operating environment and financial market confidence, threatening the development of global economy and trade. In view of the macroeconomic condition with growing uncertainties over the development of globa

10、l economy and trade, the Company has adhered to its China Merchants Port Group Co., Ltd. Annual Report 2018 strategic directives, acted under the overall operation philosophy of “enhancing core capability, insisting on both quality and efficiency, capitalising on opportunities of this era and strivi

11、ng to become a global leading enterprise”, focused on the “five key priorities”, namely, homebase port development, ports consolidation, overseas expansion, integration of industry and finance and business innovation, pursued various designated tasks in a comprehensive and pragmatic manner, and basi

12、cally achieved its operating indicators formulated at the beginning of last year. In 2018, the overall operating performance of the Company was satisfactory with steady growth of business. In terms of port operation, the port projects of the Company delivered a container throughput totalled 109.73 m

13、illion TEUs, up 6.6% over last year. Looking into the regional performance, container throughput handled by the Groups ports in Mainland China totaled 81.39 million TEUs, up 5.5% year-on-year. Ports in Hong Kong and Taiwan handled a combined container throughput of 7.67 million TEUs, up 2.5% year-on

14、-year, while overseas operations delivered a container throughput of 20.66 million TEUs, up 12.9% year-on-year. Bulk cargo volume handled by the Groups ports increased by 1.5% year-on-year to 540 million tonnes, among which the Groups ports in Mainland China handled a total bulk cargo volume of 530

15、million tonnes, representing an increase of 1.6% year-on-year, while that of overseas ports decreased by 7.7% from 2017 to 4.99 million tonnes. Among the major ports, SIPG handled a container throughput of 42.01 million TEUs, representing a year-on-year increase of 4.4%, making it the largest port i

16、n the world for the ninth consecutive year. Container throughput handled in West Shenzhen Port Zone was 11.35 million TEUs, up 1.5% year-on-year. In the overseas arena, Colombo International Container Terminals Limited (“CICT”) in Sri Lanka delivered a year-on-year growth of 12.0% by handling a cont

17、ainer throughput of 2.68 million TEUs. Lom Container Terminal S.A. (“LCT”) in Togo handled a container throughput of 1.05 million TEUs, representing a growth of 18.3% year-on-year. Kumport Liman Hizmetleri ve Lojistik Sanayi ve Ticaret Anonim irketi (“Kumport”) in Turkey handled a container throughp

18、ut of 1.26 million TEUs, representing a growth of 18.3% year-on-year. Terminal Link SAS acquired the port of Thessaloniki in Greece at the beginning of this year and it handled a container throughput of 13.64 million TEUs in the year, up 8.6% year-on-year. From March to December 2018, TCP Participae

19、s S.A. (“TCP”) in Brazil, the transaction of which was completed in February 2018, handled a container throughput of 0.69 million TEUs. In terms of key priorities, significant progress has been made in overseas expansion. The delivery of overseas port projects, including TCP in Paranagu, Brazil and

20、Port of Newcastle in Australia (the “Newcastle Port”), has been completed. The Djibouti International Free Trade Zone has successfully opened and garnered positive feedbacks. The consolidation of domestic ports has achieved remarkable breakthroughs. The Company has completed restructuring and is lis

21、ted under a China Merchants Port Group Co., Ltd. Annual Report 2018 new name. It has also been entrusted for the management of Liaoning Port Group Limited *(辽宁港口集团有限公司), which opened up for further in-depth cooperation in various aspects. The Company has been pursuing innovation development on multi

22、ple fronts as well. With regard to business innovation, the establishment of phase II of “E-port” has been completed and the commencement of various platforms integration and service building, such as the Electronic Data Interchange (“EDI”) platform system, call center , the big data platform and vi

23、sualization platform, has enabled the full coverage of shipping companies, ship agents, customs brokers and tractor drivers. For technology innovation, the Company has been actively pushing forward projects, including RTG remote control, digitalized port construction and big data analysis for global

24、 containers. These projects have further improved the technological edges of the port industry. With respect to the cooperation between the industrial and financial sectors, the Company planned the establishment of the China Port Innovation Investment Fund (中国港口创新投资基金) which aimed to coordinate with

25、 the domestic influential port groups, innovate cooperation model for the industrial and financial sectors, and explore new technologies, models and mechanisms for the port ecosystem, thereby achieving collaboration and financial resource matching between various port groups and industries. Outlook

26、In 2019, CMPort will commence the journey to become a world-class enterprise from a new starting point. The Company will firmly maintain a steady growth and at the same time achieve improvement with the focus on the strategic principle of “leveraging on its long-term strategy, tapping the current ed

27、ges, driving through technology and embracing changes”. It will strengthen synergic cooperation externally and accelerate integrated development internally, make efforts to enhance various capabilities, improve risk prevention and control, establish quality development models and stay committed to b

28、ecoming a globally leading enterprise. In 2019, the Company will focus on the following tasks: Firstly, for the construction of homebase port, the Company will continue to strengthen its efforts in the construction of domestic and overseas homebase ports, striving to build the West Shenzhen homebase

29、 port into a world-class leading port. Furthermore, the Company will accelerate the enhancement of the hardware and software environment of its homebase port, plus the CMGs internal and external resources, to establish a comprehensive service platform for the Pearl River Delta, thus strengthening th

30、e construction of fully automated and intelligent port. In addition, the Company will further promote the integration of operations with a view to improving quality and efficiency effectively and enhancing cost management. In terms of overseas homebase port, the China Merchants Port Group Co., Ltd.

31、Annual Report 2018 Company will leverage the synergic advantages of CICT and Hambantota port to create a leading regional port and international shipping centre in South Asia. Secondly, for the consolidation of domestic ports, the Company will actively incorporate national strategies in its operatio

32、n, with emphasis on opportunities brought about by the “Belt and Road” initiative, the coordinated development of Beijing, Tianjin and Hebei Province, the Yangtze River Economic Belt, the Guangdong-Hong Kong-Macao Greater Bay Area, the opening up of Hainan, the revitalization of Northeast China and

33、the integrated development of the Yangtze River Delta Zone. Thirdly, for overseas business layout, the Company will strictly comply with assessment dimensions and principles for overseas ports projects. The Company will set out clear project priorities and conduct studies on its overseas network alo

34、ng the “East-West route, South-North route, regions along the Belt and Road Initiative”. It will continue to put more efforts in the study of global regional market and to establish and improve the regional market development and research database for East Africa, West Africa, South Asia, Europe, La

35、tin America and Southeast Asia. It will also tap into the growth of the “China+” industry after shifting to the “Port-Park-City” model. Fourthly, for comprehensive port development, the Company will actively push ahead with the transformation from a terminal operator to a comprehensive port service

36、provider. It will step up its efforts in promoting the “Port-Park-City” business model, and actively push forward the construction and development of the Djibouti International Free Trade Zone. The Company will continue to proactively explore the relevant comprehensive development cooperation projec

37、ts in Togo; while for the Hambantota industrial port project, the Company will facilitate the preliminary work in relation to the introduction of investment and capital based on the improvement of the park development plan. Capitalizing development opportunities arising from of the Guangdong-Hong Ko

38、ng-Macao Greater Bay Area, the Company will actively make progress on its land preparatory works in the Qianhai-Shekou Free Trade Zone by participating in the overall development thereof. Fifthly, for technology innovation, the Company will attach further importance to the unique role and fundamenta

39、l position of technology-driven and innovation-oriented development. Also, the Company will create a top-tier port innovation ecosystem. Smart upgrade of terminals of which the Company is a controlling shareholder will be gradually achieved through technological innovation, enabling the Company to f

40、ormulate a proposal for implementation of “RTG Remote Control” with its own features so as to support the transformation of Shenzhen Haixing Harbor Development Co., Ltd. (Haixing)and smart upgrade of various terminals in the future. Sixthly, for active quality and efficiency enhancement, the Company

41、 will continuously optimize its internal procedures and mechanisms to promote management reform and process China Merchants Port Group Co., Ltd. Annual Report 2018 reengineering. The Company will focus its efforts on enhancing the level of refined operation and management of terminals of which it is

42、 a controlling shareholder, increasingly benchmarking its terminal management, reducing cost and improving efficiency, and generating income by saving costs, thereby creating values for shareholders. In 2019, the risk of declining cyclical recovery momentum of the global economy will increase. Due t

43、o trade investment policies on “ reverse globalization” and macroeconomic policy adjustments such as interest rate hike and tax reduction in developed countries, the growth of global trade will be under the intensifying pressure of an overall slowdown in the future. The Company will respond positive

44、ly to challenges like the downshift of growth in global container seaborne freight volume, the subdued profitability of domestic ports, the increased competition for investment between the ports in emerging countries. Moreover, it will seize the opportunities presented by the Chinese governments sup

45、port for import, accelerating consumption upgrade, the continuous promotion of policies regarding the development of the Guangdong-Hong Kong-Macao Greater Bay Area and the free trade port, the growth in regional trade, the relocation of the “China+” industry and port consolidation. By the above mean

46、s, the Company will spare no effort to enhance operating results and reward shareholders with better investment return. Fu Gangfeng Chairman China Merchants Port Group Co., Ltd. Annual Report 2018 Part I Important Notes, Table of Contents and Definitions The Board of Directors (or the “Board”), the

47、Supervisory Committee as well as the directors, supervisors and senior management of China Merchants Port Group Co., Ltd. (hereinafter referred to as the “Company”) hereby guarantee the factuality, accuracy and completeness of the contents of this Report and its summary, and shall be jointly and sev

48、erally liable for any misrepresentations, misleading statements or material omissions therein. Bai Jingtao, the Companys legal representative, Wen Ling, the Companys Chief Financial Officer, and Sun Ligan, the person-in-charge of the accounting organ hereby guarantee that the financial statements ca

49、rried in this Report are factual, accurate and complete. This Report has been approved at the 5th Meeting of the 9th Board of Directors of the Company. Due to other company affairs, Vice Chairman of the Board Deng Renjie and Director Song Dexing did not attend the meeting in person. But they have ex

50、pressed their consent to this Report and authorized Director Bai Jingtao to attend the meeting on behalf of them, as well as to express opinion and sign the relevant documents. Possible risks faced by the Company and countermeasures have been explained in “Part IV Operating Performance Discussion an