[年报]招港B(201872):2025年年度报告摘要（英文版）
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时间：2026年04月03日 15:35:21 中财网 |
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原标题: 招港B:2025年年度报告摘要（英文版）
ChinaMerchantsPortGroupCo.,Ltd. AnnualReport2025(Summary)
StockCode:001872/201872 StockName:CMPortGroup/CMPortGroupB AnnouncementNo.2026-008CHINAMERCHANTSPORTGROUPCO.,LTD.
ANNUALREPORT2025(SUMMARY)
PartIImportantNotes
ThisSummaryisbasedonthefullAnnualReportofChinaMerchantsPortGroupCo.,Ltd.(hereinafterreferredtoasthe“Company”).InorderforafullunderstandingoftheCompany’soperatingresults,financialpositionandfuturedevelopmentplans,investorsshouldcarefullyreadtheaforesaidfulltextonthemediadesignatedbytheChinaSecuritiesRegulatoryCommission(the“CSRC”).
ThisSummaryispreparedinbothChineseandEnglish.Shouldtherebeanydiscrepancybetweenthetwoversions,theChineseversionshallprevail.
AlltheCompany’sdirectorshaveattendedtheBoardmeetingforthereviewofthisReportanditssummary.
Independentauditor’smodifiedopinion:
?Applicable√Notapplicable
Board-approvedfinaldividendand/orbonusissueplansfortheReportingPeriod:√Applicable?Notapplicable
Bonusissuefromcapitalreserves:
?Yes√No
TheBoardhasapprovedafinaldividendplanasfollows:basedontheCompany’stotalsharecapitalattherecorddateofthedividendpayout,acashdividendofRMB7.99(taxinclusive)per10sharesistobedistributedtoshareholders,withnobonusissuefromeitherprofitorcapitalreserves.Board-approvedfinaldividendplanforpreferredshareholdersfortheReportingPeriod:?Applicable√Notapplicable
PleaserefertothefullAnnualReportforthedefinitionsoftheabbreviationsmentionedinthisSummary.
ChinaMerchantsPortGroupCo.,Ltd. AnnualReport2025(Summary)
ChinaMerchantsPortGroupCo.,Ltd. AnnualReport2025(Summary)
| Stockname | CMPortGroup/
CMPortGroupB | Stockcode | 001872/
201872 | | Stockexchangeforstock
listing | ShenzhenStockExchange | | | | Contactinformation | BoardSecretary | SecuritiesRepresentative | | | Name | LiuLibing | HuJingjing | | | Address | 24/F,ChinaMerchantsPort
Plaza,1Gongye3rdRoad,
ZhaoshangStreet,Nanshan,
Shenzhen,PRC | 24/F,ChinaMerchantsPort
Plaza,1Gongye3rdRoad,
ZhaoshangStreet,Nanshan,
Shenzhen,PRC | | | Fax | +86 75526886666 | +86 75526886666 | | | Tel. | +86 75526828888 | +86 75526828888 | | | Emailaddress | Cmpir@cmhk.com | Cmpir@cmhk.com | |
2.MainbusinessoftheCompanyduringtheReportingPeriod
(1)PrincipalActivitiesoftheCompanyduringtheReportingPeriod
TheCompany’scorebusinessincludesportinvestment,portoperation,portlogisticsandsmarttechnology.
TheCompanyhasestablishedacomprehensiveportnetworkacrossthehublocationsalongcoastalChina,andtheterminalswhichtheCompanyinvestedinorinvestedinandmanagedarelocatedinhublocationsacrossHongKong,Taiwan,Shenzhen,Ningbo,Shanghai,Qingdao,Tianjin,Dalian,Zhangzhou,Zhanjiang,andShantou,aswellasinAsia,Africa,Europe,Oceania,SouthandNorthAmerica,amongstothers.Portinvestmentincludesoverseaanddomesticportinvestments.TheCompanyputsemphasisonitspresenceinglobalmajorhublocations,gatewayportsandregionswithhugemarketpotential,rapideconomicgrowthandpromisingdevelopment,inordertocaptureinvestmentopportunitiesinports,logisticsandrelatedinfrastructureandfurtherimprovetheglobalportnetwork.Portoperationmainlyincludescontainersandbulkcargohandlingandwarehousingservices.TheCompanyfocusesontheconstructionandmanagementofleadingportandtheimprovementofservice,soastoprovideclientswithhigher-qualityportservices.Intermsofportlogistics,theCompanyleveragesinnovativeparkbusinessmodelsandservicestodeeplyexplorethesynergisticvaluebetweenportsandparks.Itprovidescustomerswithdiversifiedvalue-addedserviceswithinkeyzonessuchastheShenzhenQianhaiComprehensiveBondedZone,ChinaMerchantsPortGroupCo.,Ltd. AnnualReport2025(Summary)
ChinaMerchantsPortGroupCo.,Ltd. AnnualReport2025(Summary)
| Businesscontent | | | Portinvestment | TheCompanyputsemphasisonitspresenceinglobalmajorhublocations,gateway
portsandregionswithhugemarketpotential,rapideconomicgrowthandpromising
development,inordertocaptureinvestmentopportunitiesinports,logisticsand
relatedinfrastructure,andfurtherimprovetheglobalportnetwork. | | Portoperation | Containers:TheCompanyprovidesshipberthing,loadingandunloadingservicesto
ship companies, offers container storage service to ship companies and cargo
ownersandprovidesoverheadboxservicestotractorcompanies.TheCompany
alsoengagesinthebusinessesofdivisionormergerofcargoesincontainers,
containerleasingandcontainermaintenance;
Bulkcargoes:TheCompanyisengagedinbulkcargohandlingandtransportation
inportzones,aswellasstorageservicesinyards.Themajortypesofcargoes
handledincludeores,grainforage,oilandcoal. | | Portlogistics | TheCompanyprovidesvariousservices,includingwarehouse/yardleasing,loading
andunloadinginwarehouses/yards,customsclearanceanddivisionormergerof
cargoes at terminals, intermodal transportation, logistics, transportation and
value-added warehousing services for clients (including logistics companies,
trading companies or cargo owners). Relying on the port-surrounding land
resources,theCompanyconductsthecomprehensivedevelopmenttoenhancethe
land value. The Company enhances the value of commercial properties and
providesitscustomerswithqualitypropertyleasingandotherrelatedservices.The
Company provides port tugboat service, tallying, engineering supervision and
managementbusiness. | | Smart
technology | The Company focuses on the application of a new generation of information
technologies,suchasbigdata,InternetofThings(IoT)andartificialintelligence.It |
ChinaMerchantsPortGroupCo.,Ltd. AnnualReport2025(Summary)
ChinaMerchantsPortGroupCo.,Ltd. AnnualReport2025(Summary)
| | drives“digitalandintelligenttransformation”and“greeninginitiatives”,continuing
to empower the port’s core businesses such as the production, management,
servicesandecologyoftheport.Smarttechnologyinjectsnewmomentumintothe
developmentoftheportenterprises. |
(2)DevelopmentstageandcyclicalcharacteristicoftheindustryinwhichtheCompanyoperatesanditsindustrypositionduringtheReportingPeriod
TheCompanyranksamongthegloballeadingpublicportoperatorsandiscommittedtodevelopingasaworld-leadingportserviceprovider.Intermsofscale,asattheendofthereportingperiod,theCompanyhasestablishedarelativelycompleteportnetworkatmajorhublocationsalongcoastalChina,withitspresencein51portsin26countriesandregionsincludingAsia,Africa,Europe,Oceania,SouthandNorthAmerica.AccordingtothestatisticsofDrewry,in2024,theCompany’sequitythroughputofcontainersreached61.20millionTEUs,rankingamongthetopglobalportoperators.Intermsofquality,themasterterminalscontrolledbytheCompanyhaveoccupiedvariousmarketandregionalleadingpositions.LeveragingonthegoodgroundofporttechnologyandbasedontheCTOSsystemself-developedbyCMPort,theCompanyhasworkedouttheworldwide first full-case, full-time, all-regime and multifactor traditional container terminalupgrading solution, and has built the trade facilitation platform for the Guangdong-HongKong-MacaoGreaterBayAreathroughblockchaintechnology,whichhasbeenextendedto34terminalstohelpenhancethetradefacilitationlevelintheGreaterBayArea.Inaddition,theCompanycontinuedtopromoteESGconstruction,andstrivedtocreateanESGportbenchmarkinthe industry. In terms of performance, the Company has continually promoted high-qualitydevelopmentandhasbeenanindustryleaderintermsofnetprofitmarginandoveralllabourproductivityandotherindicators.
3.KeyFinancialInformation
(1)KeyFinancialInformationofthePastThreeYears
Indicatebytickmarkwhetherthereisanyretrospectivelyrestateddatuminthetablebelow.?Yes√No
| | 2025 | 2024 | 2025-on-
2024
change | 2023 | | Totaloperating
income(RMB) | 17,246,382,527.85 | 16,130,778,028.24 | 6.92% | 15,750,475,780.22 | | Netprofitattributable
toshareholdersofthe
Company(RMB) | 4,611,352,247.98 | 4,516,301,317.16 | 2.10% | 3,571,800,762.16 | | Netprofitattributable
toshareholdersofthe | 4,437,547,391.42 | 4,047,031,601.71 | 9.65% | 3,339,226,783.73 |
ChinaMerchantsPortGroupCo.,Ltd. AnnualReport2025(Summary)
ChinaMerchantsPortGroupCo.,Ltd. AnnualReport2025(Summary)
| Companyafter
deducting
non-recurringgains
andlosses(RMB) | | | | | | Netcashinflowfrom
operatingactivities
(RMB) | 8,174,432,389.05 | 8,013,212,824.40 | 2.01% | 6,579,606,635.17 | | Basicearningsper
share(RMB/share) | 1.85 | 1.81 | 2.21% | 1.43 | | Dilutedearningsper
share(RMB/share) | 1.85 | 1.81 | 2.21% | 1.43 | | Weightedaverage
returnonequity(%) | 7.35% | 7.51% | -0.16% | 6.35% | | | 31December2025 | 31December2024 | Changeof
31
December
2025on31
December
2024(%) | 31December2023 | | Totalassets(RMB) | 205,014,697,494.68 | 201,517,851,881.45 | 1.74% | 198,557,296,667.26 | | Equityattributableto
shareholdersofthe
Company(RMB) | 64,365,829,932.20 | 61,502,739,842.96 | 4.66% | 58,847,592,947.55 |
(2)KeyFinancialInformationbyQuarter
Unit:RMB
| | Q1 | Q2 | Q3 | Q4 | | Totaloperatingincome
Netprofitattributableto
shareholdersofthe
Company
Netprofitattributableto
shareholdersofthe
Companyafterdeducting
non-recurringgainsand
losses
Netcashinflowfrom
operatingactivities
Indicatebytickmarkwh
summations differs materi
semiyearlyreports.
?Yes√No
4.ShareCapitalandSha
(1)NumbersofOrdinar
RightsaswellasHolding | 4,214,355,369.19 | 4,254,136,006.89 | 4,293,227,201.61 | 4,484,663,950.16 | | | 1,090,726,175.19 | 1,535,912,024.28 | 1,179,988,081.33 | 804,725,967.18 | | | 1,059,858,307.79 | 1,458,827,728.41 | 1,156,020,137.95 | 762,841,217.27 | | | 1,172,302,133.44 | 1,836,391,183.35 | 2,324,751,317.95 | 2,840,987,754.31 |
Indicatebytickmarkwhetheranyofthequarterlyfinancialdatainthetableaboveortheirsummations differs materially from what have been disclosed in the Company’s quarterly orsemiyearlyreports.
?Yes√No
4.ShareCapitalandShareholderInformationatthePeriod-End
(1)NumbersofOrdinaryShareholdersandPreferredShareholderswithResumedVotingRightsaswellasHoldingsofTop10Shareholders
Unit:share
| Numberof | 29,864(20,110 | Numberof | 27,189 | Numberofpreferred | 0 | Numberof | 0 |
ChinaMerchantsPortGroupCo.,Ltd. AnnualReport2025(Summary)
ChinaMerchantsPortGroupCo.,Ltd. AnnualReport2025(Summary)
| ordinary
shareholdersat
theperiod-end | A-shareholders
and9,754
B-shareholders
) | ordinary
shareholdersat
themonth-end
priortothe
disclosureof
thisReport | (17,534
A-shareholder
sand9,655
B-shareholders
) | shareholderswith
resumedvotingrights
attheperiod-end(if
any) | | preferred
shareholders
withresumed
votingrightsat
themonth-end
priortothe
disclosureof
thisReport(if
any) | | | 5%orgreatershareholdersortop10shareholders(exclusiveofshareslentinrefinancing) | | | | | | | | | Nameof
shareholder | Natureof
shareholder | Sharehold
ing
percentag
e | Totalshares
heldatthe
period-end | Increase/dec
reaseinthe
Reporting
Period | Restricted
sharesheld | Unrestricted
sharesheld | Sharesinpledgeorfrozen | | ChinaMerchants
PortInvestment
Development
CompanyLimited | Overseas
legal
person | 46.28% | 1,148,648,648 | 0 | 0 | 1,148,648,648 | 0 | | Zhejiang
ProvincialSeaport
Investment&
OperationGroup
Co.,Ltd. | State-owne
dlegal
person | 23.24% | 576,709,537 | 0 | 0 | 576,709,537 | 0 | | ChinaMerchants
Gangtong
Development
(Shenzhen)Co.,
Ltd. | State-owne
dlegal
person | 14.94% | 370,878,000 | 0 | 0 | 370,878,000 | 0 | | Shenzhen
Infrastructure
Investment
Fund-Shenzhen
Infrastructure
InvestmentFund
Partnership
(Limited
Partnership) | Fundand
wealth
managemen
tproducts
etc. | 2.61% | 64,850,182 | 0 | 0 | 64,850,182 | 0 | | BroadfordGlobal
Limited | State-owne
dlegal
person | 2.23% | 55,314,208 | 0 | 0 | 55,314,208 | 0 | | China-Africa
DevelopmentFund | State-owne
dlegal
person | 0.63% | 15,610,368 | 0 | 0 | 15,610,368 | 0 | | ZouYanmin | Domestic
natural
person | 0.29% | 7,262,075 | 2,381,666 | 0 | 7,262,075 | 0 | | LiRunrong | Domestic
natural
person | 0.25% | 6,164,175 | 6,164,175 | 0 | 6,164,175 | 0 | | HongKong
SecuritiesClearing
CompanyLtd. | Overseas
legal
person | 0.20% | 5,023,375 | -3,452,766 | 0 | 5,023,375 | 0 | | PICCLife
Insurance
CompanyLimited
－Traditional-
GeneralInsurance
Product | Fundand
wealth
managemen
tproducts
etc. | 0.20% | 4,941,900 | 4,941,900 | 0 | 4,941,900 | 0 | | Strategicinvestorsorgeneral
legalpersonbecomingtop-ten
ordinaryshareholdersdueto | Among the foregoing shareholders, Shenzhen Infrastructure Investment Fund-Shenzhen
Infrastructure Investment Fund Partnership (Limited Partnership) subscribed for 64,850,182
sharesoftheCompanyofferedinanon-publicmannerin2019forraisingsupportingfundsat | | | | | | |
ChinaMerchantsPortGroupCo.,Ltd. AnnualReport2025(Summary)
ChinaMerchantsPortGroupCo.,Ltd. AnnualReport2025(Summary)
| placingofnewshares(ifany) | RMB17.16pershare.ThesubscribedshareswerefloatedonShenzhenStockExchangeon4
November2019,andthelock-inperiodlasteduntil4November2020.China-AfricaDevelopment
Fundsubscribedfor64,102,564sharesoftheCompanyofferedinanon-publicmannerin2019
forraisingsupportingfundsatRMB17.16pershare.Thesubscribedshareswerefloatedon
ShenzhenStockExchangeon4November2019,andthelock-inperiodlasteduntil4November
2020. Zhejiang Provincial Seaport Investment & Operation Group Co., Ltd. subscribed for
576,709,537sharesoftheCompanyofferedinanon-publicmanneratRMB18.50pershare.The
subscribedshareswerefloatedonShenzhenStockExchangeon12October2022,andthelock-in
periodlastsuntil12October2025. | | | | Relatedoracting-in-concert
partiesamongtheshareholders
above | 1.BroadfordGlobalLimitedisentrustedtomanagethe74.66%sharesofRainbowReflection
Limited held by China Merchants Holdings (Hong Kong) Company Limited, and China
MerchantsPortInvestmentDevelopmentCompanyLimitedisthewholly-ownedsubsidiaryof
RainbowReflectionLimited.
2. Broadford Global Limited is the controlling shareholder of China Merchants Gangtong
Development(Shenzhen)Co.,Ltd.
TheCompanydoesnotknowwhethertheotherunrestrictedshareholdersarerelatedpartiesornot. | | | | Aboveshareholdersinvolvedin
entrusting/beingentrustedand
givingupvotingrights | BroadfordGlobalLimitedisentrustedtomanagethe74.66%sharesofRainbowReflection
Limited held by China Merchants Holdings (Hong Kong) Company Limited, and China
MerchantsPortInvestmentDevelopmentCompanyLimitedisthewholly-ownedsubsidiaryof
RainbowReflectionLimited. | | | | Specialaccountforshare
repurchases(ifany)amongthe
top10shareholders | None | | | | Top10unrestrictedshareholders(exclusiveofshareslentinrefinancingorlocked-upsharesofseniormanagement) | | | | | Nameofshareholder | Unrestrictedsharesheldattheperiod-end | Sharesbytype | | | | | Type | Shares | | ChinaMerchantsPort
InvestmentDevelopment
CompanyLimited | 1,148,648,648 | RMB
ordinary
share | 1,148,648,648 | | ZhejiangProvincialSeaport
Investment&OperationGroup
Co.,Ltd. | 576,709,537 | RMB
ordinary
share | 576,709,537 | | ChinaMerchantsGangtong
Development(Shenzhen)Co.,
Ltd. | 370,878,000 | RMB
ordinary
share | 370,878,000 | | ShenzhenInfrastructure
InvestmentFund-Shenzhen
InfrastructureInvestmentFund
Partnership(Limited
Partnership) | 64,850,182 | RMB
ordinary
share | 64,850,182 | | BroadfordGlobalLimited | 55,314,208 | Domestical
lylisted
foreign
share | 55,314,208 | | China-AfricaDevelopment
Fund | 15,610,368 | RMB
ordinary
share | 15,610,368 | | ZouYanmin | 7,262,075 | Domestical
lylisted
foreign
share | 7,262,075 | | LiRunrong | 6,164,175 | RMB
ordinary
share | 6,164,175 | | HongKongSecuritiesClearing
CompanyLtd. | 5,023,375 | RMB
ordinary
share | 5,023,375 | | PICCLifeInsuranceCompany
Limited－Traditional-General
InsuranceProduct | 4,941,900 | RMB
ordinary
share | 4,941,900 | | Relatedoracting-in-concert
partiesamongtheshareholders
above | 1.BroadfordGlobalLimitedisentrustedtomanagethe74.66%sharesofRainbowReflection
Limited held by China Merchants Holdings (Hong Kong) Company Limited, and China
MerchantsPortInvestmentDevelopmentCompanyLimitedisthewholly-ownedsubsidiaryof
RainbowReflectionLimited.
2. Broadford Global Limited is the controlling shareholder of China Merchants Gangtong
Development(Shenzhen)Co.,Ltd.
TheCompanydoesnotknowwhethertheotherunrestrictedshareholdersarerelatedpartiesornot. | | |
ChinaMerchantsPortGroupCo.,Ltd. AnnualReport2025(Summary)
ChinaMerchantsPortGroupCo.,Ltd. AnnualReport2025(Summary)
| Top10ordinaryshareholders
involvedinsecuritiesmargin
trading(ifany) | N/A |
5%orgreatershareholders,top10shareholdersandTop10unrestrictedshareholdersinvolvedin
refinancingshareslending
?Applicable√Notapplicable
Changesintop10shareholdersandtop10unrestrictedshareholdersduetorefinancingshares
lending/returncomparedwiththepriorperiod
?Applicable√Notapplicable
(2)NumberofPreferredShareholdersandShareholdingsofTop10ofThem
?Applicable√Notapplicable
NopreferredshareholdersintheReportingPeriod.
(3)OwnershipandControlRelationsbetweentheActualControllerandtheCompanyNote:TheCompanydisclosedtheAnnouncementontheProposedChangeinShareholdingStructureoftheControllingShareholderon14December2024,inwhichBroadfordGlobalLimited,thecontrollingshareholderoftheCompany,transferred74.66%ofthesharesofRainbowReflectionLimitedheldbyChinaMerchantsHoldings(HongKong)CompanyLimited,andatthesametime,alltheaforesaidtransferredshareswereentrustedtoChinaMerchantsPortGroupCo.,Ltd. AnnualReport2025(Summary)
ChinaMerchantsPortGroupCo.,Ltd. AnnualReport2025(Summary)
| Bondname | Abbr. | Bondcode | Issuedate | Maturity | Outstandingbalance
(RMB’0,000) | Interest
rate | | 2024Public
Offeringof
Sci-Tech
Innovation
Corporate
Bondsof
China
Merchants
PortGroup
Co.,Ltd.(for
professional
investors)
(PhaseI) | 24CMPort
K1 | 148877 | 22August2024to
23August2024 | 23August2029 | 200,000.00 | 2.18% | | 2025Public
Offeringof
Sci-Tech
Innovation
Corporate
Bondsof
China
Merchants
PortGroup
Co.,Ltd.(for
professional
investors)
(PhaseI) | 25CMPort
K1 | 524409 | 22August2025to
25August 2025 | 25August2028 | 300,000.00 | 1.82% | | Bondredemptionandinterest
payment during the
ReportingPeriod | DuringtheReportingPeriod,intereston“24CMPortK1”fortheperiodfrom23August2024to
22August2025waspaidon25August2025;andtheprincipalsandinterestregarding“22
CMPort01”fortheperiodfrom30August2024to29August2025werepaidon1September
2025. | | | | | |
(2)LatestRatingandRatingChange
On29May2025,ChinaChengxinInternationalCreditRatingCo.,Ltd.(CCXI)issuedthe2025Follow-upRatingReport(XPWHZ[2025]No.0274).CCXIgrantedthecorporatecreditratingofAAAtotheCompanywitharatingoutlookofStable.
DuringtheReportingPeriod,thereisnoratingdifferenceinthemainratingsofotherbondsanddebtfinancinginstrumentsissuedbytheCompanyinChina.
ChinaMerchantsPortGroupCo.,Ltd. AnnualReport2025(Summary)
ChinaMerchantsPortGroupCo.,Ltd. AnnualReport2025(Summary)
| Item | 31December2025 | 31December2024 | Change | | Currentratio | 77.93% | 79.27% | -1.69% | | Debt/assetratio | 35.96% | 36.40% | -0.44% | | Quickratio | 76.29% | 77.36% | -1.38% | | | 2025 | 2024 | Change | | Netprofitafterdeducting
non-recurringgainsandlosses
(RMB’0,000) | 443,754.74 | 404,703.16 | 9.65% | | EBITDA/debtratio | 21.20% | 21.28% | -0.08% | | Interestcover(times) | 5.30 | 4.49 | 18.04% | | Cash-to-interestcover(times) | 5.80 | 5.05 | 14.85% | | EBITDA-to-interestcover
(times) | 7.99 | 6.92 | 15.46% | | Loanrepaymentratio | 100.00% | 100.00% | - | | Interestpaymentratio | 100.00% | 100.00% | - |
PartIIISignificantEvents
1.ImplementationofOperatingPlanduringtheReportingPeriod
Duringthereportingperiod,theCompanyadheredtothegeneralprincipleofseekingprogresswhilemaintainingstability.Aimingatthegoalofbecominga“world-leadingportserviceprovider”,theCompanymadeeveryefforttograspreform,fosterinnovation,andpromotedevelopment.Theoveralloperationalperformancedemonstratedarobustmomentumcharacterizedbyprogressingwhilemaintainingstability,improvingqualitywhileadvancing.
(1) Consolidated the homebase port infrastructure and focused on strengthening coreadvantages.ThecontainerthroughputoftheWestShenzhenPortZoneexceeded16millionTEUs,hitting a record high again, and its foreign trade market share continued to lead in theGuangdong-HongKong-MacaoGreaterBayArea.Thebulkcargobusinessactivelyexpandedintonewcommoditycategoriestosecureitscargovolumefoundation,whilemaintainingmarket-leadingpositionsinitscorecommoditysegments.CICTinSriLankapersistentlystrengtheneditslocalmarket position, achieving steady improvement in profitability. HIPG’s container businesscapabilitiesweresignificantlyenhancedasitsvolumehasexperiencedleapfroggrowthanditsRORObusinessvolumeachievedrecordhigh.Withsteadyimprovementinoperationalindicators,theGroupachievedmilestoneresultsintheprogressofbuildingworld-leadingport.ChinaMerchantsPortGroupCo.,Ltd. AnnualReport2025(Summary)
(2)Overseasexpansionprogressedsteadily,andtheperformanceofexistingprojectswasoutstanding.TheChinaMerchantsPort,theCompany'scontrolledsubsidiary,signedthesharepurchaseagreementfortheVastprojectinBraziltoexpanditspresenceintheLatinAmerica.Containerthroughputofseveraloverseasprojectsreachedrecordhigh,amongwhichTCPinBrazilimprovedefficiencytobreakthroughcapacitybottlenecks,withcontainerthroughputexceeding1.66millionTEUs.LCTinTogobecamethefirstterminalinAfricatonormalizethehandlingof24,000TEUcontainervessels,furtherconsolidatingitspositionasatransshipmenthubinWestAfrica, with container throughput increasing by 17.9% year-on-year. Kumport in Turkeysuccessfullysecuredlong-termservicecontracts,withcontainerthroughputincreasingby22.8%year-on-year,fullydemonstratingthesynergisticadvantagesoftheCompany’sgloballayoutanditshigh-levelinternationaloperationandmanagementcapabilities.
(3)Leanmanagementcontinuedtodeepen,withsignificantresultsachievedinenhancingquality and efficiency. The Company systematically promoted lean management, enhancingresource efficiency and operating effectiveness through mechanism optimization and processcontrol.BydeepeningtheCOEmechanismandpromotingoptimizationexperience,theengineeringmanagementsystemisimprovedtosavecostsanddriveprojectprogress.Commercialcoordinationandcentralizedprocurementwerestrengthenedtoenhancevaluecreationcapabilities,andtherefinedcostcontrolsystemwascontinuouslyimproved.Thesaidinitiativeshaveachievedsolidresults in areas such as process optimization, cost control, and asset returns, laying a solidfoundationfortheimprovementofoveralloperationalqualityandefficiency.(4)Theconstructionofdigitalandintelligentportshasaccelerated,empoweringthecorebusinesstoimprovequalityandefficiency.The“CMCore”CTOSterminaloperatingsystemwassuccessfullyimplementedinkeyoverseasprojectsincountriessuchasBrazil,Italy,andTurkey.The West Shenzhen Port Zone steadily promoted the pilot application of SMP, achievingdata-drivenempowermentforleancostanalysisandsupportingrefinedoperationaldecision-making.Theoperationalservicemodelofthe“CMePort”serviceplatformwasreconstructedtodevelopvalue-addedservicesforthelogisticssupplychain.TheCompanyofficiallylaunchedthe“Piercept”artificialintelligencebrandandrolledoutintelligentagentsforsixhigh-valuescenarios,includingequipmentoperationandmaintenance,promotingthedeepapplicationofartificialintelligencetechnologyincoreproductionstages.
(5)Thegreenandlow-carbontransitionhasaccelerated,andcarbonefficiencylevelshaveimprovedsignificantly.Weachievedabreakthroughinitscleanenergybunkeringservicecapacity,ChinaMerchantsPortGroupCo.,Ltd. AnnualReport2025(Summary)
TheGrouphasconsolidateditsgreenenergysupplyfoundationbyaddingdistributedphotovoltaicandelectrifiedequipmenttoreducefuelconsumptionandexhaustemissions;improvedgreeninfrastructure supporting facilities by constructing intelligent battery swapping stations andchargingpilesandinitiallyestablishinganintegrated“swapping+charging”energyreplenishmentnetwork; and deepened the application of green and low-carbon technologies by researching,developing, and promoting hoisting potential energy recovery and permanent magnet motortechnologies,amongothers.
(6)Consolidatedachievementsasa"DoubleHundred"benchmarkenterprise,systematicallyunlocking reformefficiencies. Having secured top-tier"Double Hundred Action" benchmarkstatus with reform outcomes receiving authoritative recognition, the Company advancedcomprehensivereformsdownwardtothegrassrootslevelthroughouttheyear.Atthegovernancelevel, the modern corporate governance system was continuously refined, with the Board'sfunctions in "setting strategy, making decisions, and preventing risks" comprehensivelystrengthened, and the authorization mechanism with clear powers and responsibilities andstandardizedprocesses,aswellasthewhole-processclosedloopsupervision,operatingefficiently.Atthemechanismlevel,coresystemsincludingmarket-orientedtalentselectionanddifferentiatedcompensationincentiveshavepermeatedtothegrassrootslevel,resultinginacomprehensiveenhancementoforganizationalvitalityandoperationalefficiency.(7) Advanced the implementation of new ESG regulations, achieving renewed ratingexcellence. CloselyaligningwithESGpolicyrequirementspromulgatedbynationalandlocalauthoritiesinrecentyears,theCompanycontinuouslydeepenedESGmanagementintegration,tightlycouplingnewESGregulationswithourdailyoperationandmanagement.Duringtheyear,theCompanyfocusedonpromotingtheimplementationanddeepeningofmaterialissuessuchasclimate change, biodiversity and supply chain management, and continued to develop ESGinformationsystemstoensureinformationsecurity.Intermsofratings,theCompany'sWindESGratingwasupgradedfromAAtoAAA,rankingfirstintheindustry.TheCompanyreceivedhonorsincluding"Wind2025BestESGPracticeTop100ChineseListedCompanies"and"CMGChinaESGPioneer100CentralSOEs."TheCompany'scontrolledsubsidiary,ChinaMerchantsPort,hasseenitsMSCIESGratingupgradedfromBBBtoA,thehighestratingamongHongKong-listedindustrypeers.
ChinaMerchantsPortGroupCo.,Ltd. AnnualReport2025(Summary)
ChinaMerchantsPortGroupCo.,Ltd. AnnualReport2025(Summary)
| | Operatingincome | Operatingcosts | Gross
profit
margin | YoY
changein
operating
income
(%) | YoY
changein
operating
costs(%) | YoY
changein
gross
profit
margin
(%) | | Byoperatingdivision | | | | | | | | Ports
operation | 16,427,245,729.85 | 9,098,935,746.48 | 44.61% | 6.93% | 5.19% | 0.92% | | Byoperatingsegment | | | | | | | | Mainland
China,Hong
Kongand
Taiwan | 10,736,243,512.23 | 6,881,253,410.57 | 35.91% | 1.08% | 2.32% | -0.77% | | Other
countriesand
regions | 6,510,139,015.62 | 2,774,933,837.71 | 57.38% | 18.16% | 12.32% | 2.22% |
3.YoYChangestotheScopeofConsolidatedFinancialStatements
InJanuary2025,ChinaUnitedTallyCo.,Ltd.Shantou(hereinafterreferredtoas'ChinaTally'),anassociateoftheCompany’ssubsidiaryShantouPort,absorbedShantouZhongliWailuntallyCo.,Ltd. (hereinafter referred to as 'Shantou Zhongli'), a subsidiary of Shantou Port. After thetransaction, Shantou Port holds 62.50% shares of China Tally, which contributs to businesscombinationnotinvolvingenterprisesundercommoncontrol.Consequently,ChinaTallyhasbeeninthescopeofconsolidationforthecurrentyear.ShantouZhongliwasderegisteredon14February2025afterthetransaction.
ChinaMerchantsPortGroupCo.,Ltd.
BoardofDirectors
Dated3April2026
中财网
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