CHINA MERCHANTS PORT GROUP CO., LTD.INTERIM REPORT 2026 (SUMMARY)
Part I Important Notes
This Summary is based on the full Interim 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 report on the media designated by the China Securities Regulatory Commission (the “CSRC”).
All the Company’s directors have attended the Board meeting for the review of this Report.
Independent auditor’s non-standard opinion:
Applicable √ Not applicable
Board-approved interim cash and/or stock dividend plan for ordinary shareholders:
√ Applicable Not applicable
The Board has approved an interim dividend plan as follows: based on the Company’s total share capital at the record date of the dividend payout, a cash dividend of RMB2.00 (tax inclusive) per 10 shares is to be distributed to shareholders, with no bonus issue from either profit or capital reserves.
Board-approved interim cash and/or stock dividend plan for preferred shareholders:
Applicable √ Not applicable
Note: For the meanings of the abbreviations in this Summary, please refer to the information under the heading “Definitions” in the full Interim Report.
This Report has been prepared in both Chinese and English. Should there be any discrepancies or misunderstandings between the two versions, the Chinese versions shall prevail.
Part II Key Corporate Information
1. Stock Profile
| Stock name | CM Port Group/ CM Port Group B | Stock code | 001872/ 201872 |
| Stock exchange for stock listing | Shenzhen Stock Exchange | ||
| Contact information | Board Secretary | Securities Representative | |
| Name | Liu Libing | Hu Jingjing | |
| Office address | 24/F, China Merchants Port Plaza, 1 Gongye 3rd Road, Zhaoshang Street, Nanshan, Shenzhen, PRC | 24/F, China Merchants Port Plaza, 1 Gongye 3rd Road, Zhaoshang Street, Nanshan, Shenzhen, PRC | |
| Tel. | +86 755 26828888 | +86 755 26828888 | |
| E-mail address | Cmpir@cmhk.com | Cmpir@cmhk.com | |
2. Key Financial Information
Indicate by tick mark whether there is any retrospective adjustment or restatement to prior-year financial statements.
Yes √ No
| H1 2026 | H1 2025 | Change | |
| Total operating income (RMB) | 8,948,462,047.19 | 8,468,491,376.08 | 5.67% |
| Net profit attributable to shareholders of the Company (RMB) | 2,781,107,015.26 | 2,626,638,199.47 | 5.88% |
| Net profit attributable to shareholders of the Company after deducting non-recurring profit or loss (RMB) | 2,722,938,614.94 | 2,518,686,036.20 | 8.11% |
| Net cash inflow from operating activities (RMB) | 3,348,074,613.14 | 3,008,693,316.79 | 11.28% |
| Basic earnings per share (RMB/share) | 1.12 | 1.05 | 6.67% |
| Diluted earnings per share (RMB/share) | 1.12 | 1.05 | 6.67% |
| Weighted average return on equity (%) | 4.25% | 4.19% | Up by 0.06 percentage point |
| 30 June 2026 | 31 December 2025 | Change | |
| Total assets (RMB) | 207,632,748,002.65 | 205,014,697,494.68 | 1.28% |
| Equity attributable to shareholders of the Company (RMB) | 65,280,492,556.50 | 64,365,829,932.20 | 1.42% |
3. Shareholders and Their Holdings as at the End of the Reporting Period
Unit: share
| Number of ordinary shareholders at the period-end | 27,228 (17,618 A-shareholders and 9,610 B-shareholders) | Number of preferred shareholders with resumed voting rights at the period-end (if any) | 0 | ||
| Top 10 shareholders (exclusive of shares lent in refinancing) | |||||
| Name of shareholder | Nature of shareholder | Shareholding percentage | Number of shares | Restricted shares | Shares in pledge or frozen |
| China Merchants Port Investment Development Company Limited | Foreign legal person | 46.28% | 1,148,648,648 | 0 | 0 |
| Zhejiang Provincial Seaport Investment & Operation Group Co., Ltd. | State-owned legal person | 23.23% | 576,709,537 | 0 | 0 |
| China Merchants Gangtong Development (Shenzhen) Co., Ltd. | State-owned legal person | 14.94% | 370,878,000 | 0 | 0 |
| Shenzhen Infrastructure Investment Fund Management Co., Ltd.-Shenzhen Infrastructure Investment Fund Partnership (Limited Partnership) | Fund and wealth management products etc. | 2.61% | 64,850,182 | 0 | 0 |
| Broadford Global Limited | State-owned legal person | 2.23% | 55,314,208 | 0 | 0 |
| China-Africa Development Fund | State-owned legal person | 0.63% | 15,610,368 | 0 | 0 |
| Hong Kong Securities Clearing Company Ltd. | Overseas legal person | 0.55% | 13,609,404 | 0 | 0 |
| Zou Yanmin | Domestic natural person | 0.33% | 8,080,028 | 0 | 0 |
| PICC Property and Casualty Company Limited—Traditional-General Insurance Product | Fund and wealth management products etc. | 0.26% | 6,480,601 | 0 | 0 |
| Li Runrong | Domestic natural person | 0.24% | 6,005,375 | 0 | 0 |
| Related or acting-in-concert parties among the shareholders above | 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 Rainbow Reflection Limited.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. | ||||
| Shareholders involved in securities margin trading and lending (if any) | N/A | ||||
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
4. Change of the Controlling Shareholder or the Actual Controller in the Reporting Period
Change of the controlling shareholder in the Reporting Period:
Applicable √ Not applicable
The controlling shareholder remained the same in the Reporting Period.
Change of the actual controller in the Reporting Period:
Applicable √ Not applicable
The actual controller remained the same in the Reporting Period.
5. Number of Preferred Shareholders and Shareholdings of Top 10 of Them
Applicable √ Not applicable
No preferred shareholders in the Reporting Period.
6. Outstanding Bonds at the Date when this Report Was Authorized for Issue
(1) Bond Profile
| Bond name | Abbr. | Bond code | Issue date | Maturity | Outstanding balance (RMB'0,000) | Interest rate |
| 2024 Public Offering of Sci-Tech Innovation Corporate Bonds of China Merchants Port Group Co., Ltd. (for professional investors) (Phase I) | 24 CMPort K1 | 148877 | 22 August 2024 to 23 August 2024 | 23 August 2029 | 200,000.00 | 2.18% |
| 2025 Public Offering of Sci-Tech Innovation Corporate Bonds of China Merchants Port Group Co., Ltd. (for professional investors) (Phase I) | 25 CMPort K1 | 524409 | 22 August 2025 to 25 August 2025 | 25 August 2028 | 300,000.00 | 1.82% |
| 2026 Public Offering of Short-term Corporate Bonds of China Merchants Port Group Co., Ltd. (for professional investors) (Phase I) | 26 CMPort D1 | 524813 | 26 May 2026 | 2 December 2026 | 100,000.00 | 1.32% |
(2) Financial Indicators as at the End of the Reporting Period
| Item | 30 June 2026 | 31 December 2025 | Increase/decrease |
| Current ratio | 70.98% | 77.93% | -8.92% |
| Debt/asset ratio | 35.85% | 35.96% | -0.11% |
| Quick ratio | 69.32% | 76.29% | -9.14% |
| H1 2026 | H1 2025 | Increase/decrease | |
| Net profit after deducting non-recurring gains and losses (RMB'0,000) | 272,293.86 | 251,868.60 | 8.11% |
| EBITDA to total debt ratio | 11.83% | 11.64% | 0.19% |
| Interest coverage ratio | 6.79 | 5.60 | 21.25% |
| Cash interest coverage ratio | 5.46 | 4.49 | 21.60% |
| EBITDA interest coverage ratio | 9.56 | 8.15 | 17.30% |
| Loan repayment ratio | 100.00% | 100.00% | - |
| Interest payment ratio | 100.00% | 100.00% | - |
Part III Significant Events
1. Business Overview of the Reporting Period
(1) Overall overview of port business
During the first half of 2026, the container business of the Company showed growth momentum, and its bulk cargo business maintained a stable foundation. The Company’s ports handled a total container throughput of 106.78 million TEUs, representing a year-on-year increase of 5.5%; bulk cargo volume reached 622.03 million tonnes, representing a year-on-year decrease of 1.5%. For the container business, ports in Mainland China handled 84.69 million TEUs, representing a year-on-year increase of 6.9%. Ports in Hong Kong and Taiwan recorded a combined throughput of 2.40 million TEUs, representing a year-on-year decrease of 14.7%. Overseas ports handled 19.69 million TEUs, representing a year-on-year increase of 2.5%. For the bulk cargo business, ports in Mainland China handled 616.34 million tonnes, representing a year-on-year decrease of 1.6%, while overseas ports handled 5.70 million tonnes, representing a year-on-year increase of 18.6%.
(2) Implementation of operating plan during the Reporting Period
During the Reporting Period, the Company committed to its strategic goal of becoming a “world-leading port service provider”, upholding the “Global Presence”, “Lean Management”
and “Innovative Transformation”. It achieved results in areas such as homebase port development, overseas expansion, operational management, technological innovation, and ESG initiatives, with key operational performance indicators securing sound growth.
① As for homebase port construction, the Company consolidated its regional foundations and enhanced competitive advantages. The West Shenzhen Port Zone maintained an upward trend in its container business. Efforts to integrate container business resources and optimize the deployment in the West Shenzhen Port Zone were undertaken in an orderly manner, and steady progress was made on the construction of the Dachan Bay Phase II project. In overseas homebase ports, CICT in Sri Lanka maintained its leading market share in container throughput within the port area and continued to strengthen cooperation with key customers. HIPG in Sri Lanka leveraged its regional strength to continuously enhance capacity and streamline its business structure. With coordinated growth across the container and RoRo business segments, the Company's operations showed positive momentum.
② Regarding overseas expansion, the Company focused on key regions and intensified its strategic deployment. Focusing on structural investment opportunities in growth markets such as Southeast Asia, Latin America and Africa, the Company steadily and methodically expanded its portfolio of overseas controlled terminals. Concurrently, the Company continued to promote integrated synergy between CICT and HIPG in Sri Lanka, strengthening port capacity and achieving efficient resource sharing and complementary advantages. TCP in Brazil has accelerated projects such as yard expansion, berth refurbishment and gantry crane upgrades. Meanwhile, NPH in Indonesia has proceeded with management integration to maintain smooth business operations.
③ In respect of operations management, the Company deepened its lean management and strengthened top-down empowerment. The Company has laid a solid foundation for value creation through lean management and empowered high-quality development through top-down control and management. On the one hand, the Company continued to deepen the philosophy of lean management, optimize the end-to-end operational system, establish commercial control mechanisms, promote meticulous management and coordinated business expansion, achieve cost control and operation efficiency enhancement, and improve the financing structure to enhance asset operational efficiency. On the other hand, the Company has strengthened governance across its global operations by establishing localized decision-making rules, clarifying governance responsibilities, and improving overseas risk identification and process control systems. By leveraging digital systems to advance the integration of financial management both domestically and overseas, the Company supported its long-term, steady development through high-standard global resource allocation and enhanced governance efficiency.
④ As regards technological innovation, the Company advanced digital and intelligent empowerment to build green ports. The Company remained committed to technology-driven development, actively exploring applications of cutting-edge technologies such as artificial intelligence, and focusing on leveraging technology to empower industrial upgrading. Firstly, the Company sustained its efforts to strengthen system research and development. A new foundational version of the CTOS system has been released, which features capabilities to support the operations of small, medium and micro-scale container terminals. Regarding the BTOS product for bulk and general cargo, a contract has been signed for the Somaport terminal in Morocco. Secondly, the Company spared no effort to promote smart applications. Shekou Container Terminal has rolled out a smart yard plan, effectively reducing the rate of container overturns, while Mawan Smart Port has continuously optimized port operations, with the operation efficiency of autonomous vehicles improving steadily. Thirdly, green transformation was actively pursued with Mawan Smart Port having completed the first ship-to-ship LNG bunkering operation.
⑤ In terms of ESG construction, the Company explored cutting-edge issues and achieved excellent results in rating improvements. The Company continuously reinforced the integration of ESG into its operations and promoted the routine management of ESG issues. On the environmental front, the Company published its first Nature-related Financial Impact Report in April 2026, systematically assessing the impact on nature across its value chain and formulating corresponding biodiversity conservation strategies. On the social front, the Company was recognized as an outstanding model of volunteer service in Guangdong Province for 2025. In terms of governance, the Company has advanced the development of the boards of directors for the Company and its subsidiaries, continuously enhancing governance standards. During the period, the Company maintained its Wind ESG rating at AAA, ranking first in the transportation infrastructure industry and being selected for Fortune China's ESG Impact List. The MSCI ESG rating of its subsidiary China Merchants Port was upgraded from BBB to A in March.
(3) Year-on-year Changes in Key Financial Data
Unit: RMB
| H1 2026 | H1 2025 | Change | Main reason for change | |
| Operating income | 8,948,462,047.19 | 8,468,491,376.08 | 5.67% | - |
| Operating costs | 4,752,291,707.16 | 4,596,264,092.50 | 3.39% | - |
| General and administrative expenses | 763,945,984.07 | 759,073,109.44 | 0.64% | - |
| Financial expenses | 702,394,205.91 | 836,571,986.58 | -16.04% | - |
| Income tax expenses | 876,426,240.35 | 728,408,809.32 | 20.32% | - |
| Research and development investments | 96,878,463.20 | 119,104,880.47 | -18.66% | - |
| Net cash inflow from operating activities | 3,348,074,613.14 | 3,008,693,316.79 | 11.28% | - |
| Net cash inflow from investing activities | 178,571,194.42 | 1,270,833,149.04 | -85.95% | Effects of changes in structured deposits |
| Net cash outflow from financing activities | -2,774,521,341.00 | -5,941,464,208.42 | 53.30% | Combined effects of reduced debt repayments and interest payments, together with dividend distributions and other factors |
| Net increase in cash and cash equivalents | 604,639,259.75 | -1,610,511,448.16 | 137.54% | Combined effects of cash flows from operating, investing and financing activities |
2. Matters Related to Financial Reporting
(1) Changes to Accounting Policies, Accounting Estimates or Accounting Methods Compared
to the Last Accounting Period
On 5 December 2025, the Ministry of Finance issued Interpretations No.19 of the Accounting Standards for Business Enterprises (Cai Kuai [2025] No.32, hereinafter referred to as "Interpretations No.19") The provisions concerning “Accounting Treatments for Indemnification Assets in Business Combinations Not under Common Control”, “Accounting Treatments for Related Capital Reserves upon Disposal of a Subsidiary Previously Obtained through a Business Combination under Common Control”, “Derecognition of Financial Liabilities Settled via Electronic Payment Systems”, “Assessment and Disclosure of Contractual Cash Flow Characteristics of Financial Assets”, and “Disclosures for Equity Instruments Designated at Fair Value Through Other Comprehensive Income” became effective on 1 January 2026.
On 4 June 2026, the Ministry of Finance issued Interpretations No.20 of the Accounting Standards for Business Enterprises (Cai Kuai [2026] No.7, hereinafter referred to as "Interpretations No.20"). The provisions regarding “Assessment of Contractual Cash Flow Characteristics of Financial Assets” and “Accounting Treatments and Related Disclosures in the Absence of Currency Convertibility” became effective on 1 January 2026.
Following these changes in accounting policies, the Company will implement the relevant provisions set forth in Interpretations No. 19 and No. 20. Except for the aforesaid policy changes, all other unchanged items shall continue to be governed by the Basic Standard of Accounting Standards for Business Enterprises, the specific accounting standards, Application Guides to Accounting Standards for Business Enterprises, Interpretation Announcements of Accounting Standards for Business Enterprises, and other relevant regulations previously issued by the Ministry of Finance.
(2) Retrospective Restatements due to the Correction of Material Accounting Errors in the
Reporting Period
Applicable √ Not applicable
No such cases.
(3) Changes to the Scope of Consolidated Financial Statements Compared to the Last Accounting Period
Applicable √ Not applicable
China Merchants Port Group Co., Ltd. Board of Directors Dated 29 August 2026
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