中 集Ｂ：2012年第一季度报告全文（英文版） .ppt

,Report for the First Quarter of 2012 of China International Marine Containers(Group)Co.,Ltd.China International Marine Containers(Group)Co.,Ltd.Report for the First Quarter of 20121.Important Notes1.1 The Board of Directors,the Supervisory Committee,as well as directors,supervisors andsenior executives of China International Marine Containers(Group)Co.,Ltd.(hereinafterreferred to as“the Company”)hereby guarantee that this report carries no false information,misleading statements or major omissions,and will accept,individually and collectively,theresponsibility for factuality,accuracy and completeness of the information set forth herein.1.2 Financial statements for the first quarter of 2012 have not been audited by an accountingfirm.1.3 Li Jianhong(Principal of the Company)and Jin Jianlong(the person in charge of theaccounting project and the person-in-charge of the accounting organ/the principal of accounting)hereby confirm that the financial statements enclosed in the quarterly report are factual andcomplete.English Translation for Reference Only.Should there be any discrepancy between the twoversions,the Chinese version shall prevail.2.Company Profile2.1 Main accounting data and financial indicatorsUnit:RMB000,31 Mar.2012,31 Dec.2011,Increase/decrease(%),Total assets(RMB000)Owners equity attributable to shareholders of theCompany(RMB000)Share capital(share)Net assets per share attributable to shareholdersof the Company(RMB/share)Gross revenue(RMB000)Net profit attributable to shareholders of theCompany(RMB000),63,371,505.0018,940,843.002,662,396,051.007.11Jan.-Mar.201212,351,927.00375,305.00,64,361,714.0018,633,154.002,662,396,051.007.00Jan.-Mar.201117,056,642.001,358,250.00,-1.54%1.65%0.00%1.57%Increase/decrease(%)-27.58%-72.37%,Net cash(RMB000),flows,from,operating activities,525,875.00,-5,998,953.00,108.77%,Net cash flows per share from operatingactivities(RMB/share)Basic EPS(RMB/share)Diluted EPS(RMB/share)Weighted average ROE(%),0.19750.14100.14082.00%,-2.25320.51020.51028.02%,108.77%-72.37%-72.40%-6.02%,Weighted average ROE afternon-recurring gains and losses(%),deducting,1.84%,7.80%,-5.96%,1,-,Report for the First Quarter of 2012 of China International Marine Containers(Group)Co.,Ltd.Items of non-recurring gains and losses,Applicable,Inapplicable,Unit:RMB000,Items of non-recurring gains and lossesProfit and loss from disposal of non-current assetsGovernment subsidies recorded into current gains and losses,excludingthose related closely to the routine business of the Company andcontinuously enjoyed by the Company at fixed amounts or ratiosaccording to state policies and regulationsGains/losses from fair value changes of transactional financial assetsand liabilities held by the Company,and investment gains fromdisposal of transactional financial assets and liabilities and financialassets available for sale,excluding effective hedging business related tothe Companys common operationsOther non-operating incomes and expensesCapital occupation fees collected from non-financial enterprises whichare recorded in the gains and losses for the current periodIncome tax effectsMinority interests effectsTotal,Amount from the year-beginto the period-end4,537.0012,823.008,143.001,893.002,440.00-983.00336.0029,189.00,Notes(if applicable),2.2 Total number of shareholders and shares held by the top ten shareholders not subject totrading moratorium at the end of the reporting periodUnit:share,Total number of shareholders at the end of the reportingperiodShares held by the top ten shareholders not subject to trading moratorium,202,404,Full name of shareholder,Shares not subject to tradingmoratorium held at the period-end,Type of share,CHINALIMITED,MERCHANTS,(CIMC),INVESTMENT,679,927,917 Domestically listed foreign shares,COSCO CONTAINER INDUSTRIES LIMITEDCOSCO CONTAINER INDUSTRIES LIMITEDCMBLSA RE FTIF TEMPLETON ASIAN GRW FDGTI 5496LONG HONOUR INVESTMENTS LIMITEDGUOTAI JUNAN SECURITIES(HONGKONG)LIMITED,432,171,843 RMB ordinary shares148,320,037 Domestically listed foreign shares91,120,810 Domestically listed foreign shares25,322,106 Domestically listed foreign shares25,076,298 Domestically listed foreign shares,NEW,CHINA,LIFE,INSURANCE,CO.,LTDDIVIDEND,DISTRIBUTIONINDIVIDUAL,15,950,000 RMB ordinary shares,DIVIDEND-018L-FH002 SHEN,BANK OF CHINAE FUND SHENZHEN STOCK,2,14,221,973 RMB ordinary shares,Report for the First Quarter of 2012 of China International Marine Containers(Group)Co.,Ltd.EXCHANGE 100 EXCHANGE TRADED FUND,TEMPLETON EMERGING MARKETSINVESTMENT TRUSTBBH A/C VANGUARD EMERGING MARKETSSTOCK INDEX FUNDICBCRONGTONG SSE 100 INDEX FUND,12,801,432 Domestically listed foreign shares11,839,498 Domestically listed foreign shares9,525,783 RMB ordinary shares,3.Significant Events3.1 Significant changes in main accounting statement items and financial indicators as well asreasons for such changes,Applicable,Inapplicable,The first quarter of 2012 still marked a comparatively slack season in the global container market,as it was in the fourth quarter of last year,which was mainly due to a weak global shippingmarket,deinventory in the industry and weak export.In particular,the number of orders fordry-cargo containers was obviously lower than that in the same period of last year,a peak season.And prices of dry-cargo containers fell to the bottom in the first quarter of 2012 while demandfor reefer containers and special containers remained stable.For the first three months of 2012,the Company achieved a container sales income of RMB 5.326 billion;accumulatively sold168,400 TEU of dry-cargo containers,down 66.19%as compared with the same period of lastyear;accumulatively sold 47,700 TEU of reefer containers,up 9.00%over the same period oflast year;and accumulatively sold 15,300 TEU of special containers,down 12.57%on ayear-on-year basis.In the reporting period,the Company increased the freightage and adjustedthe transport capability.After the previous adjustment in the slack season,customer needsgradually bottomed out,with the order quantity and prices for dry-cargo containers risingmarkedly in March.It was expected that the order quantity for dry-cargo containers would besufficient in the second quarter and the Company would enter a traditional peak season.In termsof the modularized building business,Yangzhou Tonglee successfully won the bidding for thedouble-camp project of the Australia-based Rio Tinto.In the first quarter of 2012,due to domestic economic slowdown and uncertainties in overseaseconomy,the production&sales volume and income of the Companys road transportationvehicles business recorded a marked drop over the same period of last year.For the first quarterof the year,26,700 units were sold accumulatively,down 31.82%over the same period of lastyear,generating a total sales income of RMB 3.357 billion,down 18.24%on a year-on-year basis.In 2012,CIMC Vehicle Group will continue to carry forward the European BSG project in stages,making use of the advanced technological resources of Europe,cooperating in development andpromoting interaction between Europe and China.It is expected to finish investment andconstruction of the domestic base in the first half of 2012,as well as the building and re-buildingof the European bases and plants by the end of 2012.Meanwhile,the Company intends tointroduce into China the 3rd-generation semi-trailers featuring modularization,production instages and retail-shop marketing.In terms of the energy,chemical,liquefied food equipment business,strong market demand fornatural gas equipments continued,as it was in last year,and the chemical equipment business3,Report for the First Quarter of 2012 of China International Marine Containers(Group)Co.,Ltd.kept growing fast.As a result,the first quarter recorded operating revenue of RMB 1.991 billion,representing continuous year-on-year growth.In Feb.2012,the“well head gas gathering system”developed by Enric Compressor was awarded the“China Mechanical Industry Science andTechnology Third Prize”granted by China Mechanical Industry Science and Technology AwardsOffice.Later in March,the Langfang new plant of CIMC Enric started construction.In the first quarter of 2012,the offshore engineering business of the Company generatedoperating revenue of RMB 1.014 billion(RMB 29 million for the first quarter of 2011),representing a year-on-year growth of 3,341.62%.Construction in progress and deliveryproceeded well.On 16 Mar.2012,the“SUPREME DRILLER”self-elevating drilling platform ofCIMC Raffles was delivered,marking a second SUPER M2 series self-elevating drilling platformdelivered by the Company.In Feb.2012,trial voyage of the COSL PROMOTER deep-watersemi-submersible drilling platform was completed,which was a third deep-watersemi-submersible drilling platform built by CIMC Raffles for China National Offshore Oil Corp.,expected to be delivered by the end of this April.Meanwhile,breakthroughs were made insoliciting new offshore engineering orders.On 10 Feb.2012,CIMC Raffles and theNorway-based North Sea Rigs signed a general contract for building the North Dragon North Seadeep-water semi-submersible drilling platform.CIMC Raffles and Global Maritime willcooperate to work out the basic design for North Dragon and CIMC Raffles will complete thedetailed design independently and has the independent intellectual property right.This is asecond new order from North Sea after the COSL PROSPECTOR European North Seadeep-water semi-submersible drilling platform signed in Dec.2011,which means thatsemi-submersible products of CIMC Raffles have been recognized in the internationalmainstream market,with a better engineering general contracting capability.Significant changes of main accounting statement items and financial indicators:Unit:RMB000,31 Mar.2012/Jan.-Mar.2012,31 Mar.2011/Jan.-Mar.2011,Increase/decrease,Reason for the change,Fair value changes of short-term,Transactional financial assets,253,949,186,134,36.43%,investments and derivative financial,instruments,Transactional financial liabilities(current),14,400,31,107,-53.71%,Fair value changes of derivativefinancial instruments,Interest payable for this period,included,interest,on,the,Interest payable,217,037,152,067,42.72%,medium-term notes issued while the,MTN was not issued yet in thesame period of last year.,Long-term payables,195,385,86,846,124.98%,Payablesincreased.,for,financial,leasing,The container business recorded a,Operating revenue,12,351,927,17,056,642,-27.58%,poorer performance than theaverage in past years while the,figure was high at the same period4,Report for the First Quarter of 2012 of China International Marine Containers(Group)Co.,Ltd.of last year.The container business recorded a,poorer,performance,than,the,Operating cost,10,429,998,13,737,695,-24.08%,average in past years while the,figure was high at the same periodof last year.,Asset impairment lossGains and losses on fair valuechanges,-76,27223,122,-7,546-64,456,-910.76%135.87%,Inventory falling price reservesmade in past years were reversed.Fair value changes of short-terminvestments and derivative financialinstruments,The adjusted amount under the,Investment income,-14,028,9,523,-247.31%,equity,method,of,associates,decreased.Non-operating income at the same,Non-operating income,25,199,86,620,-70.91%,period of last year included a large,amount of government subsidy.,Income tax expense,229,838,508,744,-54.82%,Pre-tax profit decreased.,The container business shrank over,Cash paid for goods and services,12,032,579,18,184,133,-33.83%,last year and the expenditure on,procurement decreased accordingly.,Net,cash,paid,to,acquire,Cash paid to acquire minority,subsidiaries or other operating,718,010,48,917,1,367.81%,interests of the subsidiaryCIMC,units,OFFSHORE,3.2 Progress of significant events as well as their influence and solutions3.2.1 Non-standard audit opinion,Applicable,Inapplicable,3.2.2 The Company provides funds for the controlling shareholder or its related parties orprovides external guarantees in violation of the prescribed procedure,Applicable,Inapplicable,3.2.3 Significant contracts signed and executed concerning routine operation,Applicable3.2.4 OtherApplicable,InapplicableInapplicable,Internal control progress:In this quarter,the Company appraised the internal control systems of its affiliated subsidiariesaccording to the annual appraisal plan,with the appraisal results being part of the businessperformance of the subsidiaries.It organized relevant units to prepare their 2011 annual internalcontrol self-evaluation reports,which were submitted to the Companys Board of Directors andthe Audit Committee under it for review and approval.KPMG China issued an internal controlaudit report with an unqualified opinion.The Company kept improving internal control and transparency of its work,as well as enhancing5,1,2,3,4,5,6,Report for the First Quarter of 2012 of China International Marine Containers(Group)Co.,Ltd.internal and external communication.In this quarter,the Company held an internal controlseminar to exchange experience on pilot implementation of internal control rules and discussfurther work.Meanwhile,it received visits from external professionals and had productivediscussions on internal control with them.The Company believes that judging objectively according to the risk control standards ofworld-class enterprises,passing the internal control pilot implementation is just a start for theinternal control campaign.For the internal control system to become a cornerstone for thetime-honored Company,the Company must push forward internal control improvement morethoroughly,deeply,specifically and effectively according to the requirements of“betterperformance,better strength and better culture”.In 2012,besides covering all aspects with theinternal control system,the Company will also focus on four major internal control tasks,i.e.strategic planning for development of internal control talents,the internal controlstandard-reaching campaign,the preparation of internal control brochures all at tiers and theformulation of a financial KRI indicator system and a risk prewarning platform.All these areproceeding in an orderly manner.3.3 Commitments made by the Company,its shareholders and actual controllerCommitments made by the Company,its directors,supervisors,senior executives,shareholdersholding over 5%of the Companys shares,actual controller and other related parties in thereporting period,or such commitments carried down into the reporting period,Applicable,Inapplicable,3.4 Warnings of possible loss or large-margin year-on-year change of the accumulative net profitmade during the period from the beginning of the year to the end of the next reporting periodaccording to prediction,as well as explanations on the reasons,Applicable,Inapplicable,3.5 Other significant events3.5.1 Securities Investment,Applicable,Inapplicable,Unit:RMB000Proportion in,SerialNo.,Type ofsecurities,Code ofsecurities,Abbr.ofsecurities,Initialinvestment(RMB000),Number h