CHINAMERCHANTS PORT GROUPCO., LTD.
ANNUALREPORT 2021
Date of disclosure: 31 March 2022
Chairman’s Statement
Dear shareholders,
Ihereby present to you the annual report of China Merchants Port Group Co., Ltd. and its subsidiaries
(the “Company”) for the year ended 31 December 2021. On behalf of the Board, I would like to
express my sincere gratitude to all of you for your long-term support to the Company.
The Company is a crucial vehicle for CMG to implement the “Belt and Road” Initiative promoted by
China and the strategy of Guangdong-Hong Kong-Macao Greater BayArea. Serving not only as the
core enterprise of China Merchants Group's port sector, the Companyis also the capital operation and
management platform for the group's global port assets, hence playing a key role in the consolidation
and synergistic development of CMG’s port assets. The Company has become a world-leading port
investor, developer and operator.
Looking ahead, by seizing the important opportunities arising from implementing major national
strategies,applyanewvisionofdevelopment andimplementhigh-qualitydevelopmentrequirements,
the Company will take actions and strive to become a world-class comprehensive port service
provider. While actively innovating the service model with a focus on core port businesses and
promoting the construction of “Intelligent Port” ecosystem under the guidance of technology
innovation, it will proactively take part in international port investment, development and operation,
so as to optimize the port network system on a continuous basis. By offering top-notch service
solutions, it will become customers’first choice of partner for cooperation, creating greater value for
the Company, enhancing return for shareholders and contributing to building a more stable, reliable
and secure supply chain.
Review for the year
In 2021, COVID-19 situation around the world was complex and severe. Benefiting from the
accelerated vaccination process, loose monetary policy and continued active fiscal policy, the global
economy, especiallyofmajoreconomies, was generallyshowinga recoverytrend.However, repeated
outbreak of the pandemic and discrepancy in national policy response against the pandemic have
caused divergence in the economic recovery of different countries. Under the multiple impacts of
inflation, supplychain disruption, complicatedgeopolitics, andexchangeratefluctuations, alongwith
other uncertainties, the Company's daily operation and management faced certain challenges.
Confronted with a grave and complex external environment, the Company adhered to the strategic
principle of “leveraging on its long-term strategy, tapping the current edges, driving through
technology and embracing changes”. Apart from coping with challenges proactively as the COVID-
19 pandemic spread, it pursued various key construction projects in a steady manner, including the
pandemic prevention and control, development of leading ports, innovative development, overseas
expansion and comprehensive development, and successfully accomplished its strategic goals and
various operational objectives of the year.
In terms of port operation, the container port business delivered a container throughput totaled
136.394 million twenty-foot equivalent units (TEUs) in 2021, up 12.0% year-on-year. Looking into
the regional performance, container throughput handled by the Company’s ports in Mainland China
totaled 95.138 million TEUs, up 10.9% year-on-year. Ports in Hong Kong and Taiwan handled a
combined container throughput of 7.684 million TEUs, up 7.4% year-on-year, while overseas port
projects handled a total container throughput of 33.572 million TEUs, up 16.3% year-on-year, mainly
because the business volume of eight terminals which Terminal Link SAS(TL)newly acquired was
included in the statistics in April 2020 and the business growth of Lomé Container Terminal S.A.
(LCT) in Togo and TCP Participações S.A. (TCP) in Brazil. In terms of bulk cargo volume, the
Company’s ports in Mainland China handled a total bulk cargo volume of 607 million tons, up 35.3%
year-on-year, mainly due to the merger of Yingkou Port by the shareholding company Dalian Port,
the whole changed to Liaoning Port Co., Ltd and the Company will include the business volume of
Yingkou Port into the statistics since February 2021; the overseas port handled a total bulk cargo
volume of 6.21 million tons, up 6.5% year-on-year, mainly due to the business increase of HIPG in
Sri Lanka. Among the major ports, container throughput handled in West Shenzhen Port Zone in
China was 12.834 million TEUs, up 8.4% year- on-year; bulk cargo volume handled by it increased
by 7.9% year-on-year to 19.504 million tons. SIPG handled a container throughput of 47.032 million
TEUs, representing a year-on-year increase of 8.1%; bulk cargo volume handled by it increased by
8.9% year-on-year to 82.388 million tons. For overseas projects, CICT in Sri Lanka delivered
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