招港B：2025年年度报告摘要（英文版）

Stock Code: 001872/201872

Stock Name: CM Port Group/CM Port Group B

Announcement No. 2026-008

CHINA MERCHANTS PORT GROUP CO., LTD.

ANNUAL REPORT 2025 (SUMMARY)

Part I Important Notes

This Summary is based on the full Annual Report of China Merchants Port Group Co., Ltd. (hereinafter referred to as the “Company”). In order for a full understanding of the Company’s operating results, financial position and future development plans, investors should carefully read the aforesaid full text on the media designated by the China Securities Regulatory Commission (the “CSRC”).

This Summary is prepared in both Chinese and English. Should there be any discrepancy between the two versions, the Chinese version shall prevail.

All the Company’s directors have attended the Board meeting for the review of this Report and its summary.

Independent auditor’s modified opinion:

 Applicable √ Not applicable

Board-approved final dividend and/or bonus issue plans for the Reporting Period:

√ Applicable  Not applicable

Bonus issue from capital reserves:

 Yes √ No

The Board has approved a final dividend plan as follows: based on the Company’s total share capital at the record date of the dividend payout, a cash dividend of RMB7.99 (tax inclusive) per 10 shares is to be distributed to shareholders, with no bonus issue from either profit or capital reserves.

Board-approved final dividend plan for preferred shareholders for the Reporting Period :

 Applicable √ Not applicable

Please refer to the full Annual Report for the definitions of the abbreviations mentioned in this Summary.

Part II Key Corporate Information

1. Stock Profile

2. Main business of the Company during the Reporting Period

(1) Principal Activities of the Company during the Reporting Period

The Company’s core business includes port investment, port operation, port logistics and smart technology.

The Company has established a comprehensive port network across the hub locations along coastal China, and the terminals which the Company invested in or invested in and managed are located in hub locations across Hong Kong, Taiwan, Shenzhen, Ningbo, Shanghai, Qingdao, Tianjin, Dalian, Zhangzhou, Zhanjiang, and Shantou, as well as in Asia, Africa, Europe, Oceania, South and North America, amongst others. Port investment includes oversea and domestic port investments. The Company puts emphasis on its presence in global major hub locations, gateway ports and regions with huge market potential, rapid economic growth and promising development, in order to capture investment opportunities in ports, logistics and related infrastructure and further improve the global port network. Port operation mainly includes containers and bulk cargo handling and warehousing services. The Company focuses on the construction and management of leading port and the improvement of service, so as to provide clients with higher-quality port services.

In terms of port logistics, the Company leverages innovative park business models and services to deeply explore the synergistic value between ports and parks. It provides customers with diversified value-added services within key zones such as the Shenzhen Qianhai Comprehensive Bonded Zone, Qingdao Qianwan Comprehensive Bonded Zone, Tianjin Dongjiang Comprehensive Bonded Zone,

Djibouti International Free Trade Zone, Hambantota Industrial Park. These services include warehousing leasing, customs clearance, division or merger of cargoes, documentation services, and more. The Company is driving growth in port tugboat service, tallying operations, and engineering supervision and management business. It also focuses on port-related business innovation and supply chain logistics. By integrating port ecosystem service resources and fostering collaboration across the upstream and downstream of the port logistics value chain, the Company prioritizes resource openness and sharing. This integrated approach facilitates smoother trade flows and enhances the efficiency of logistics, information, and capital flows within the port service chain, ultimately helping customers reduce costs and improve efficiency.

The smart technology business focuses on the application of new generation of information technology, such as big data, Internet of Things (IoT) and artificial intelligence, promotes “digital intelligence” and “green” upgrades, and continues to empower the core businesses, such as the production, management, services and ecology of the port. Smart technology injects new momentum into the development of the port enterprises.

The main business segments of the Company are as follows:

(2) Development stage and cyclical characteristic of the industry in which the Company operates and its industry position during the Reporting Period

The Company ranks among the global leading public port operators and is committed to developing as a world-leading port service provider. In terms of scale, as at the end of the reporting period, the Company has established a relatively complete port network at major hub locations along coastal China, with its presence in 51 ports in 26 countries and regions including Asia, Africa, Europe, Oceania, South and North America. According to the statistics of Drewry, in 2024, the Company’s equity throughput of containers reached 61.20 million TEUs, ranking among the top global port operators. In terms of quality, the master terminals controlled by the Company have occupied various market and regional leading positions. Leveraging on the good ground of port technology and based on the CTOS system self-developed by CMPort, the Company has worked out the worldwide first full-case, full-time, all-regime and multifactor traditional container terminal upgrading solution, and has built the trade facilitation platform for the Guangdong-Hong Kong-Macao Greater Bay Area through blockchain technology, which has been extended to 34 terminals to help enhance the trade facilitation level in the Greater Bay Area. In addition, the Company continued to promote ESG construction, and strived to create an ESG port benchmark in the industry. In terms of performance, the Company has continually promoted high-quality development and has been an industry leader in terms of net profit margin and overall labour productivity and other indicators.

3. Key Financial Information

(1) Key Financial Information of the Past Three Years

Indicate by tick mark whether there is any retrospectively restated datum in the table below.  Yes √ No

Unit: share

(2) Key Financial Information by Quarter

Unit: RMB

Indicate by tick mark whether any of the quarterly financial data in the table above or their summations differs materially from what have been disclosed in the Company’s quarterly or semiyearly reports.

 Yes √ No

4. Share Capital and Shareholder Information at the Period-End

(1) Numbers of Ordinary Shareholders and Preferred Shareholders with Resumed Voting Rights as well as Holdings of Top 10 Shareholders

China Merchants Port Group Co., Ltd. Annual Report 2025 (Summary)

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

(2) Number of Preferred Shareholders and Shareholdings of Top 10 of Them

 Applicable √ Not applicable

No preferred shareholders in the Reporting Period.

(3) Ownership and Control Relations between the Actual Controller and the Company

Note: The Company disclosed the Announcement on the Proposed Change in Shareholding Structure of the Controlling Shareholder on 14 December 2024, in which Broadford Global Limited, the controlling shareholder of the Company, transferred 74.66% of the shares of Rainbow Reflection Limited held by China Merchants Holdings (Hong Kong) Company Limited, and at the same time, all the aforesaid transferred shares were entrusted to Broadford Global Limited for management by China Merchants Holdings (Hong Kong) Company Limited.

On 24 January 2025, the Company received the updated registers of members of Rainbow Reflection Limited and Broadford Global Limited, and was informed that China Merchants Holdings (Hong Kong) Company Limited was registered as a shareholder of Rainbow Reflection Limited (holding 21,120,986,262 ordinary shares in the share capital of Rainbow Reflection Limited, representing 74.66% of the total share capital of Rainbow Reflection Limited), and Broadford Global Limited had completed the share cancellation procedures. Since then, the transfer and trusteeship of shares were completed and the change in the shareholding structure of the controlling shareholder was completed. For specific details, please refer to the announcement released by our company on January 25, 2025 regarding the completion of changes in the shareholding structure of the controlling shareholder.

5. Outstanding Bonds at the Date when this Report Was Authorized for Issue

(1) Bond Profile

(2) Latest Rating and Rating Change

On 29 May 2025, China Chengxin International Credit Rating Co., Ltd. (CCXI) issued the 2025 Follow-up Rating Report (XPWHZ [2025] No. 0274). CCXI granted the corporate credit rating of AAA to the Company with a rating outlook of Stable.

During the Reporting Period, there is no rating difference in the main ratings of other bonds and debt financing instruments issued by the Company in China.

(3) The Major Accounting Data and the Financial Indicators of the Recent 2 Years of the Company up the Period-end

Part III Significant Events

1. Implementation of Operating Plan during the Reporting Period

During the reporting period, the Company adhered to the general principle of seeking progress while maintaining stability. Aiming at the goal of becoming a “world-leading port service provider”, the Company made every effort to grasp reform, foster innovation, and promote development. The overall operational performance demonstrated a robust momentum characterized by progressing while maintaining stability, improving quality while advancing.

(1) Consolidated the homebase port infrastructure and focused on strengthening core advantages. The container throughput of the West Shenzhen Port Zone exceeded 16 million TEUs, hitting a record high again, and its foreign trade market share continued to lead in the Guangdong-Hong Kong-Macao Greater Bay Area. The bulk cargo business actively expanded into new commodity categories to secure its cargo volume foundation, while maintaining market-leading positions in its core commodity segments. CICT in Sri Lanka persistently strengthened its local market position, achieving steady improvement in profitability. HIPG’s container business capabilities were significantly enhanced as its volume has experienced leapfrog growth and its RORO business volume achieved record high. With steady improvement in operational indicators, the Group achieved milestone results in the progress of building world-leading port.

(2) Overseas expansion progressed steadily, and the performance of existing projects was outstanding. The China Merchants Port, the Company's controlled subsidiary, signed the share purchase agreement for the Vast project in Brazil to expand its presence in the Latin America. Container throughput of several overseas projects reached record high, among which TCP in Brazil improved efficiency to break through capacity bottlenecks, with container throughput exceeding 1.66 million TEUs. LCT in Togo became the first terminal in Africa to normalize the handling of 24,000 TEU container vessels, further consolidating its position as a transshipment hub in West Africa, with container throughput increasing by 17.9% year-on-year. Kumport in Turkey successfully secured long-term service contracts, with container throughput increasing by 22.8% year-on-year, fully demonstrating the synergistic advantages of the Company’s global layout and its high-level international operation and management capabilities.

(3) Lean management continued to deepen, with significant results achieved in enhancing quality and efficiency. The Company systematically promoted lean management, enhancing resource efficiency and operating effectiveness through mechanism optimization and process control. By deepening the COE mechanism and promoting optimization experience, the engineering management system is improved to save costs and drive project progress. Commercial coordination and centralized procurement were strengthened to enhance value creation capabilities, and the refined cost control system was continuously improved. The said initiatives have achieved solid results in areas such as process optimization, cost control, and asset returns, laying a solid foundation for the improvement of overall operational quality and efficiency

(4) The construction of digital and intelligent ports has accelerated, empowering the core business to improve quality and efficiency. The “CMCore” CTOS terminal operating system was successfully implemented in key overseas projects in countries such as Brazil, Italy, and Turkey. The West Shenzhen Port Zone steadily promoted the pilot application of SMP, achieving data-driven empowerment for lean cost analysis and supporting refined operational decision-making. The operational service model of the “CM ePort” service platform was reconstructed to develop value-added services for the logistics supply chain. The Company officially launched the “Piercept” artificial intelligence brand and rolled out intelligent agents for six high-value scenarios, including equipment operation and maintenance, promoting the deep application of artificial intelligence technology in core production stages.

(5) The green and low-carbon transition has accelerated, and carbon efficiency levels have improved significantly. We achieved a breakthrough in its clean energy bunkering service capacity, with the first ship-to-ship LNG bunkering operation completed in the West Shenzhen Port Zone.

The Group has consolidated its green energy supply foundation by adding distributed photovoltaic and electrified equipment to reduce fuel consumption and exhaust emissions; improved green infrastructure supporting facilities by constructing intelligent battery swapping stations and charging piles and initially establishing an integrated “swapping + charging” energy replenishment network; and deepened the application of green and low-carbon technologies by researching, developing, and promoting hoisting potential energy recovery and permanent magnet motor technologies, among others.

(6) Consolidated achievements as a "Double Hundred" benchmark enterprise, systematically unlocking reform efficiencies. Having secured top-tier "Double Hundred Action" benchmark status with reform outcomes receiving authoritative recognition, the Company advanced comprehensive reforms downward to the grassroots level throughout the year. At the governance level, the modern corporate governance system was continuously refined, with the Board's functions in "setting strategy, making decisions, and preventing risks" comprehensively strengthened, and the authorization mechanism with clear powers and responsibilities and standardized processes, as well as the whole-process closed loop supervision, operating efficiently. At the mechanism level, core systems including market-oriented talent selection and differentiated compensation incentives have permeated to the grassroots level, resulting in a comprehensive enhancement of organizational vitality and operational efficiency.

(7) Advanced the implementation of new ESG regulations, achieving renewed rating excellence. Closely aligning with ESG policy requirements promulgated by national and local authorities in recent years, the Company continuously deepened ESG management integration, tightly coupling new ESG regulations with our daily operation and management. During the year, the Company focused on promoting the implementation and deepening of material issues such as climate change, biodiversity and supply chain management, and continued to develop ESG information systems to ensure information security. In terms of ratings, the Company's Wind ESG rating was upgraded from AA to AAA, ranking first in the industry. The Company received honors including "Wind 2025 Best ESG Practice Top 100 Chinese Listed Companies" and "CMG China ESG Pioneer 100 Central SOEs." The Company's controlled subsidiary, China Merchants Port, has seen its MSCI ESG rating upgraded from BBB to A, the highest rating among Hong Kong-listed industry peers.

2. Operating Division, Product Category, Operating Segment or Sales Model Contributing over 10% of Operating Income or Operating Profit

Unit: RMB

3. YoY Changes to the Scope of Consolidated Financial Statements

In January 2025, China United Tally Co., Ltd. Shantou (hereinafter referred to as 'China Tally'), an associate of the Company’s subsidiary Shantou Port, absorbed Shantou Zhongli Wailun tally Co., Ltd. (hereinafter referred to as 'Shantou Zhongli'), a subsidiary of Shantou Port. After the transaction, Shantou Port holds 62.50% shares of China Tally, which contributs to business combination not involving enterprises under common control. Consequently, China Tally has been in the scope of consolidation for the current year. Shantou Zhongli was deregistered on 14 February 2025 after the transaction.

China Merchants Port Group Co., Ltd.

Board of Directors

Dated 3 April 2026