Report Q3 2015 of China Merchants Property Development Co., Ltd.
Stock code: 000024, 200024 Stock short name: ZSDC, ZSJB
Announcement No.: [CMPD] 2015 - 101
Report Q3 2015
Section I Important Notice
Board of Directors and Board of Supervisors of the Company and its directors, supervisors and officers hereby guarantee that
this resolution is free from any fault, misleading statement or major omission and bear joint and several liabilities for the truthfulness,
accuracy and completeness of contents described herein.
All board members have been present at the board meeting for auditing the Q3 report.
The Report Q3 2015 has not been audited by the accounting firm.
The legal representative Sun Chengming, Chief Financial Director Wu Zhenqin and Manager of Finance Department Li Shifang
hereby state that the financial statements under the Report are authentic and complete.
The Report is made in Chinese and English. In case of any discrepancy, the Chinese version shall prevail.
Report Q3 2015 of China Merchants Property Development Co., Ltd.
Section II Changes in Main Financial Data and Shareholders
I. Main accounting data and financial indices
No retroactive adjustment or restatement of accounting data for previous years due to changes in accounting policies and correction
of accounting errors
End of report period End of last year Increase or decrease
Total assets (yuan) 181,417,972,515.29 151,692,365,118.58 19.60%
Net assets attributable to the
shareholders of listed company 32,871,275,531.09 31,094,416,110.82 5.71%
(yuan)
From beginning of
Year-on-year increase Year-on-year increase or
Report period year to end of report
or decrease decrease
period
Business income (yuan) 5,932,085,076.85 -23.02% 23,906,033,514.31 0.64%
Net profits attributable to the
shareholders of listed company 73,504,383.25 -83.85% 2,219,006,547.94 -0.97%
(yuan)
Net profits attributable to
shareholders of listed company after
149,400,339.79 -68.01% 1,899,717,324.43 -17.76%
deducting non-recurring profits and
losses (yuan)
Net cash flow from business
-- -- -2,652,969,494.21 51.72%
activities (yuan)
Basic earnings per share (yuan
0.03 -83.33% 0.86 -1.15%
/share)
Diluted earnings per share (yuan
0.03 -83.33% 0.86 -1.15%
/share)
1.41 percentage point 1.23 percentage points l
Weighted average return on equity 0.22% 6.95%
s lower ower
Items and amount of non-recurring profits and losses
Unit: yuan
Items of non-recurring profits or losses Amount from beginning of year to end of
report period
Losses and profits on disposal of non-current assets 64,022.09
Government subsidies 11,958,706.10
Profits or losses from external entrusted loans 19,141,960.71
Other non-business incomes and expenditures deducted by the above items 8,297,525.04
Report Q3 2015 of China Merchants Property Development Co., Ltd.
Other profits or losses recognized by CSRC 298,306,322.02
Affected amount of minority shareholders -9,792,112.92
Affected amount after income taxes -8,687,199.53
Total 319,289,223.51
Note 1: From January to September, the net profits attributable to the shareholders of listed company and operating income
maintained simultaneous increase. At the end of reporting period, the balance of advances received was RMB 53,272 million
increasing by RMB 17,673 million, up 50% from the year earlier.
In this quarter, operating income decreased by RMB 1,774 million, down 23.02% from the year earlier due to the carry-forward
progress of the Company’s property project, which resulted in the gross profits decreasing by RMB 20.24 million during the
reporting period. However, exchange losses generated from the foreign currency loans increased due to the fluctuation of foreign
exchange rate in August resulting in the sharp decrease of the net profits attributable to the shareholders of listed company from the
year earlier. From January to September, exchange losses included in the financial expenses amounted to RMB 382,317.4 thousand
(wherein the exchange losses amounting to RMB 428.31 million in the third quarter), while exchange losses included in the financial
expenses amounted to RMB 50,151.7 thousand in the same period last year.
Holding a certain amount of foreign currency loans is the important factor that comprehensive financing cost of the Company is
low; in view of the frequent fluctuation of foreign exchange rate, the Company successively substitute RMB loans for part of foreign
currency loans by taking into account the demand for foreign currency to reduce the fluctuation risk of foreign exchange rate.
Note 2: the long-term equity investment after change in control of Shenzhen Overseas Chinese Town Co., Ltd. (OCT) by the
Company is measured by fair value. The equity fair value is mainly inventory evaluation added value. From January to September,
2014, based on the ratio of actual carry-forward inventory area in the total salable area of inventory to be carried forward on the date
of control right change of OCT, the added value of long-term equity investment acknowledged by assessment added value subject to
corresponding written off is RMB 29,197,537.31.
Note 3: The Company acquired control over Beijing Guangying Residential Property Development Limited and consolidated
financial statements on May 1, 2015. Its identifiable net assets was measured as per the fair value by the Company on the date of
control right change and the investment income of RMB 432,538,803 is included due to inventory evaluation appreciation. In May to
September 2015, based on the ratio of actual carry-forward inventory area in the total salable area of inventory to be carried forward
on the date of control right change, the inventory evaluation appreciation subject to corresponding written off is RMB
458,087,030.62 (Net amount after deduction of income tax expenses and minority shareholders’ profit or loss is RMB
116,812,192.81). Due to control right change, other owners’ equity in connection with the previously held equities transferred and
included in the investment income is RMB 11,777,249.14.
II. Total and top ten shareholders at the end of reporting period
1. Total and top ten common shareholders at the end of report period
Unit: share
Total number of common
shareholders at the end of report 99,026 (A-shares: 89,426, B-shares: 9,600)
period
Top ten common shareholders
Nature of Quantity of Quantity of Pledged or frozen
Name of shareholder Share
shareholder shares restricted shares shares
Report Q3 2015 of China Merchants Property Development Co., Ltd.
Quant
Status
ity
China Merchants Shekou Industrial Zone Holdings State-owned
40.38% 1,040,128,975 1,040,128,975 None None
Co., Ltd. corporate
Overseas
FULL SPACE INVESTMENT LIMITED 5.48% 141,216,075 141,216,075 None None
corporate
Overseas
China Merchants Securities (HK) Co., Ltd. 2.96% 76,125,377 73,863,367 None None
corporate
Overseas
FOXTROT INTERNATIONAL LIMITED 1.61% 41,580,000 41,580,000 None None
corporate
Overseas
ORIENTURE INVESTMENT LTD 1.55% 39,904,717 39,904,717 None None
corporate
Overseas
GOLDEN CHINA MASTER FUND 1.03% 26,487,893 None None None
organization
Domestic
Sun Huigang natural 0.98% 25,310,000 None None None
person
Domestic
non-state-o
National Social Security Fund 118 Portfolio 0.86% 22,189,608 None None None
wned
corporate
Domestic
non-state-o
National Social Security Fund 108 Portfolio 0.68% 17,541,741 None None None
wned
corporate
Overseas
CITIGROUP GLOBAL MARKETS LIMITED 0.57% 14,760,893 None None None
organization
Top ten un-restricted common shareholders
Class of shares
Name of shareholder Quantity of un-restricted common shares
Class Quantity
GOLDEN CHINA MASTER FUND 26,487,893 B share 26,487,893
Sun Huigang 25,310,000 A share 25,310,000
National Social Security Fund 118 Portfolio 22,189,608 A share 22,189,608
National Social Security Fund 108 Portfolio 17,541,741 A share 17,541,741
CITIGROUP GLOBAL MARKETS LIMITED 14,760,893 A share 14,760,893
Fang Deji 13,640,535 A share 13,640,535
GREENWOODS CHINA ALPHA MASTER
13,031,565 B share 13,031,565
FUND
Report Q3 2015 of China Merchants Property Development Co., Ltd.
Invesco Great Wall Selective Blue Chip Share
13,000,000 A share 13,000,000
Securities Investment Funds
Rongtong New Blue Chip Securities Investment
11,364,786 A share 11,364,786
Funds
National Social Security Fund 413 Portfolio 11,000,023 A share 11,000,023
China Merchants Shekou Industrial Zone Holdings Co., Ltd. (hereinafter
referred to as “CMSIZH”) and its subsidiaries - FULL SPACE INVESTMENT
LIMITED, FOXTROT INTERNATIONAL LIMITED and ORIENTURE
Statement on relationship and acting in concert of INVESTMENT LTD are Persons Acting in Concert; GOLDEN CHINA
the above-mentioned shareholders MASTER FUND and GREENWOODS CHINA ALPHA MASTER FUND are
Persons Acting in Concert. Dafeng International, a subsidiary of CMSIZH, has
entrusted 73,863,367 shares of the Company to China Merchants Securities
(Hong Kong) Co., Ltd.
Description of the top 10 common shareholders
None
envolved in securities margin trading (if any)
Report Q3 2015 of China Merchants Property Development Co., Ltd.
Section III Important Events
I. Facts and causes for change in main accounting statement items and financial indices
during the report period
Unit: RMB 10,000
Increase or
Financial liabilities 2015.09.30 2014.12.31 decrease (± Main cause of change
%)
Land prepayment converted into
Prepayments 136,083 361,919 -62%
inventory
The increase of the due intercourse
Other receivables 1,616,843 894,186 81% funds of joint ventures and associated
enterprises
Other current assets 514,687 355,070 45% Increase of pre-paid tax
Short-term loans 30,000 388,690 -92% Payment of short-term debt
The increase of the payable project
Notes payable 55,993 4,734 1083%
funds with bills
Increase of advance payment for
Advances received 5,327,221 3,559,929 50%
building sales expense received
The payment of unpaid taxes and
Tax payable 141,242 313,369 -55%
dues
Interests payable 28,809 19,214 50% Increase of borrowings
Other payables 1,598,584 1,178,251 36% Increase of payables for partners
Issuing the tickets and convertible
Bonds payable 762,942 301,808 153%
bonds
The increasing payables by
Long-term payables 361,944 10,435 3368% transferring the rights and interests of
subsidiary companies
