2021-04-28 16:00Important Notice This chapter confirms the board, supervisory board, and senior management's assurance of the quarterly report's truthfulness, accuracy, and completeness, noting it is unaudited - The company's board of directors, supervisory board, and senior management guarantee the truthfulness, accuracy, and completeness of the quarterly report content and assume legal responsibility3 - The company's principal, chief accountant, and head of accounting department guarantee the truthfulness, accuracy, and completeness of the financial statements3 - This first quarter report is unaudited3 Company Profile This chapter provides an overview of the company's key financial data and shareholder structure at the reporting period end, highlighting asset and net profit growth, and detailing the top ten shareholders Key Financial Data The company's total assets and net assets attributable to shareholders increased at the reporting period end, with significant year-on-year growth in operating revenue, net profit, and earnings per share Asset and Liability Key Indicators (Reporting Period End vs. Prior Year End) | Indicator | Reporting Period End (Yuan) | Prior Year End (Yuan) | Change (%) | | :--- | :--- | :--- | :--- | | Total Assets | 26,715,416,563.79 | 26,243,366,760.77 | 1.80 | | Net Assets Attributable to Shareholders of Listed Company | 15,558,283,597.44 | 15,216,180,502.61 | 2.25 | Income Statement and Cash Flow Statement Key Indicators (Year-to-Date Reporting Period End vs. Prior Year-to-Date Reporting Period End) | Indicator | Year-to-Date Reporting Period End (Yuan) | Prior Year-to-Date Reporting Period End (Yuan) | Change (%) | | :--- | :--- | :--- | :--- | | Net Cash Flow from Operating Activities | 634,473,707.78 | 586,706,545.87 | 8.14 | | Operating Revenue | 1,643,864,183.15 | 1,390,695,541.93 | 18.20 | | Net Profit Attributable to Shareholders of Listed Company | 327,108,175.12 | 252,346,656.99 | 29.63 | | Net Profit Attributable to Shareholders of Listed Company (Excluding Non-Recurring Items) | 316,634,894.63 | 243,337,471.49 | 30.12 | | Weighted Average Return on Net Assets (%) | 2.13 | 1.71 | Increased by 0.42 percentage points | | Basic Earnings Per Share (Yuan/share) | 0.06 | 0.05 | 20.00 | | Diluted Earnings Per Share (Yuan/share) | 0.06 | 0.05 | 20.00 | Non-Recurring Gains and Losses and Amounts (Current Period) | Item | Current Period Amount (Yuan) | | :--- | :--- | | Gains and Losses from Disposal of Non-Current Assets | -58,652.46 | | Government Subsidies Included in Current Profit and Loss | 14,060,138.71 | | Other Non-Operating Income and Expenses Apart from the Above | 50,356.12 | | Impact of Minority Interests (After Tax) | -65,601.29 | | Income Tax Impact | -3,512,960.59 | | Total | 10,473,280.49 | Shareholder Information at Reporting Period End As of the reporting period end, the company had 70,455 shareholders, with Hebei Port Group Co., Ltd. as the largest at 54.27% and Hong Kong Securities Clearing Company (Nominees) Limited as the second largest at 14.81% - As of the reporting period end, the total number of shareholders was 70,4556 Top Ten Shareholders' Shareholding | Shareholder Name | Shares Held at Period End (Shares) | Proportion (%) | Share Status | Shareholder Nature | | :--- | :--- | :--- | :--- | :--- | | Hebei Port Group Co., Ltd. | 3,032,528,078 | 54.27 | No pledge or freeze | State-owned Legal Person | | Hong Kong Securities Clearing Company (Nominees) Limited | 827,398,382 | 14.81 | Unknown | Overseas Legal Person | | Qinhuangdao Municipal People's Government State-owned Assets Supervision and Administration Commission | 621,455,485 | 11.12 | No pledge or freeze | State | | Hebei Construction Investment Transportation Investment Co., Ltd. | 209,866,757 | 3.76 | No pledge or freeze | State-owned Legal Person | | Daqin Railway Co., Ltd. | 42,750,000 | 0.77 | No pledge or freeze | State-owned Legal Person | | COSCO Shipping (Tianjin) Co., Ltd. | 41,437,588 | 0.74 | No pledge or freeze | State-owned Legal Person | | Jineng Holding Coal Industry Group Co., Ltd. | 41,437,588 | 0.74 | No pledge or freeze | State-owned Legal Person | | Li Guo | 40,000,000 | 0.72 | No pledge or freeze | Domestic Natural Person | | Shougang Group Co., Ltd. | 32,703,388 | 0.59 | No pledge or freeze | State-owned Legal Person | | Shanxi Provincial People's Government Qinhuangdao Port Management Office | 30,538,764 | 0.55 | No pledge or freeze | Other | - Hebei Port Group holds 71,303,000 H-shares of Qinhuangdao Port Co., Ltd. through its wholly-owned overseas subsidiary, accounting for 1.28% of the total share capital, which is included in the total shares held by Hong Kong Securities Clearing Company (Nominees) Limited7 Significant Events This chapter details significant changes and their causes in key financial statement items and indicators, including assets, liabilities, profit/loss, and cash flow, confirming no other important developments or overdue commitments Significant Changes in Key Financial Items and Indicators During the reporting period, several financial indicators changed significantly, including increases in other non-current assets and accounts payable, a sharp rise in credit impairment losses, a substantial decrease in non-operating income/expenses, higher income tax, improved investing cash flow, and positive financing cash flow - Other non-current assets increased by 52% from the beginning of the year to 110,691,872.03 Yuan, primarily due to increased VAT input tax credits and prepaid engineering costs of subsidiaries8 - Accounts payable increased by 43% from the beginning of the year to 264,581,890.97 Yuan, mainly due to increased operating payables8 - Credit impairment losses increased by 912% year-on-year to 4,256,504.36 Yuan, primarily due to changes in the aging of subsidiaries' accounts receivable, leading to increased provision for bad debts8 - Non-operating income decreased by 80% year-on-year to 50,456.12 Yuan, mainly due to gains from the disposal of scrapped fixed assets in the prior year8 - Net cash flow from investing activities increased by 63% year-on-year to -366,663,709.78 Yuan, primarily due to a decrease in net investment in time deposits exceeding three months8 - Net cash flow from financing activities increased by 124% year-on-year to 12,991,663.84 Yuan, mainly due to an increase in borrowings9 Progress, Impact, and Solutions for Significant Events No significant events requiring disclosure of progress, impact, or solutions occurred during the reporting period Overdue Unfulfilled Commitments No overdue unfulfilled commitments existed during the reporting period Warning on Cumulative Net Profit Forecast No warning or explanation regarding potential cumulative net profit loss or significant change compared to the prior year was issued for the period from year-beginning to the next reporting period end Appendix The appendix includes the company's unaudited consolidated and parent company financial statements, comprising balance sheets, income statements, and cash flow statements, detailing financial position, operating results, and cash flows, along with new lease standard implementation and audit report status Financial Statements This section presents the company's unaudited consolidated and parent company balance sheets, income statements, and cash flow statements, offering detailed financial data for Q1 2021 performance and position Consolidated Balance Sheet As of March 31, 2021, consolidated total assets and equity attributable to parent company owners slightly increased, with notable changes in monetary funds, accounts receivable, other non-current assets, short-term borrowings, and accounts payable Consolidated Balance Sheet Major Item Changes (March 31, 2021 vs. December 31, 2020) | Item | March 31, 2021 (Yuan) | December 31, 2020 (Yuan) | Change (%) | | :--- | :--- | :--- | :--- | | Monetary Funds | 4,068,619,297.31 | 3,554,825,387.07 | 14.45 | | Accounts Receivable | 72,303,595.86 | 58,344,006.76 | 23.93 | | Other Non-Current Assets | 110,691,872.03 | 72,940,444.96 | 51.75 | | Short-Term Borrowings | 370,837,905.54 | 322,940,547.75 | 14.83 | | Accounts Payable | 264,581,890.97 | 185,335,672.51 | 42.76 | | Contract Liabilities | 511,409,839.99 | 630,272,097.10 | -18.86 | | Taxes Payable | 184,553,319.91 | 149,212,114.42 | 23.68 | | Other Payables | 771,102,136.48 | 674,477,406.66 | 14.33 | | Total Liabilities | 10,304,130,188.17 | 10,143,939,748.56 | 1.58 | | Total Equity Attributable to Parent Company Owners | 15,558,283,597.44 | 15,216,180,502.61 | 2.25 | | Total Assets | 26,715,416,563.79 | 26,243,366,760.77 | 1.80 | Parent Company Balance Sheet As of March 31, 2021, the parent company's total assets and owner's equity increased, with notable rises in monetary funds, accounts payable, taxes payable, and other payables, while notes receivable and contract liabilities decreased Parent Company Balance Sheet Major Item Changes (March 31, 2021 vs. December 31, 2020) | Item | March 31, 2021 (Yuan) | December 31, 2020 (Yuan) | Change (%) | | :--- | :--- | :--- | :--- | | Monetary Funds | 3,137,356,093.30 | 2,738,571,439.42 | 14.56 | | Notes Receivable | 27,000,000.00 | 52,400,000.00 | -48.47 | | Accounts Payable | 125,400,624.02 | 73,043,808.03 | 71.68 | | Contract Liabilities | 378,942,445.94 | 465,909,707.56 | -18.70 | | Taxes Payable | 152,907,721.92 | 105,113,307.53 | 45.47 | | Other Payables | 93,673,657.82 | 62,179,310.02 | 50.65 | | Total Liabilities | 2,333,591,131.85 | 2,310,272,397.60 | 1.01 | | Total Owner's Equity | 15,710,860,904.05 | 15,357,874,720.55 | 2.29 | | Total Assets | 18,044,452,035.90 | 17,668,147,118.15 | 2.13 | Consolidated Income Statement In Q1 2021, consolidated total operating revenue grew by 18.20% year-on-year, with net profit attributable to parent company shareholders increasing by 29.63%, reflecting strong earnings, despite decreased financial expenses and significantly increased credit impairment losses Consolidated Income Statement Major Item Changes (Q1 2021 vs. Q1 2020) | Item | Q1 2021 (Yuan) | Q1 2020 (Yuan) | Change (%) | | :--- | :--- | :--- | :--- | | Total Operating Revenue | 1,643,864,183.15 | 1,390,695,541.93 | 18.20 | | Total Operating Costs | 1,287,241,228.09 | 1,169,692,563.22 | 10.05 | | Operating Costs | 991,257,512.60 | 882,101,464.73 | 12.37 | | Administrative Expenses | 145,994,589.42 | 130,108,115.66 | 12.21 | | Financial Expenses | 57,104,856.32 | 68,109,522.17 | -16.29 | | Credit Impairment Losses | -4,256,504.36 | 523,996.66 | -912.00 | | Operating Profit | 409,883,329.90 | 278,892,355.83 | 46.96 | | Total Profit | 409,875,033.56 | 273,235,604.75 | 50.01 | | Income Tax Expense | 113,634,698.23 | 71,514,106.33 | 58.89 | | Net Profit | 296,240,335.33 | 201,721,498.42 | 46.86 | | Net Profit Attributable to Parent Company Shareholders | 327,108,175.12 | 252,346,656.99 | 29.63 | | Basic Earnings Per Share (Yuan/share) | 0.06 | 0.05 | 20.00 | Parent Company Income Statement In Q1 2021, parent company operating revenue increased by 20.08% year-on-year, with net profit growing by 18.91%, while financial expenses turned positive and credit impairment losses shifted from a gain to a loss Parent Company Income Statement Major Item Changes (Q1 2021 vs. Q1 2020) | Item | Q1 2021 (Yuan) | Q1 2020 (Yuan) | Change (%) | | :--- | :--- | :--- | :--- | | Operating Revenue | 1,150,205,293.05 | 957,898,027.90 | 20.08 | | Operating Costs | 586,706,839.16 | 507,742,122.78 | 15.56 | | Administrative Expenses | 121,272,957.42 | 104,850,208.84 | 15.66 | | Financial Expenses | -10,875,055.05 | -8,096,408.85 | 34.32 | | Credit Impairment Losses | -185,134.29 | 1,219,571.23 | -115.18 | | Operating Profit | 448,442,848.64 | 357,876,708.15 | 25.32 | | Total Profit | 448,445,217.49 | 357,987,183.96 | 25.27 | | Income Tax Expense | 106,382,589.93 | 70,332,892.88 | 51.27 | | Net Profit | 342,062,627.56 | 287,654,291.08 | 18.91 | Consolidated Cash Flow Statement In Q1 2021, consolidated net cash flow from operating activities increased by 8.14% year-on-year, with significantly reduced investment cash outflows narrowing the negative investing cash flow, and financing cash flow turning positive due to increased borrowings Consolidated Cash Flow Statement Major Item Changes (Q1 2021 vs. Q1 2020) | Item | Q1 2021 (Yuan) | Q1 2020 (Yuan) | Change (%) | | :--- | :--- | :--- | :--- | | Subtotal of Cash Inflows from Operating Activities | 1,606,518,554.00 | 1,504,986,286.42 | 6.75 | | Subtotal of Cash Outflows from Operating Activities | 972,044,846.22 | 918,279,740.55 | 5.85 | | Net Cash Flow from Operating Activities | 634,473,707.78 | 586,706,545.87 | 8.14 | | Subtotal of Cash Inflows from Investing Activities | 18,332,779.19 | 202,898,771.26 | -90.96 | | Subtotal of Cash Outflows from Investing Activities | 384,996,488.97 | 1,187,391,137.05 | -67.58 | | Net Cash Flow from Investing Activities | -366,663,709.78 | -984,492,365.79 | 62.75 | | Subtotal of Cash Inflows from Financing Activities | 120,000,000.00 | 50,000,000.00 | 140.00 | | Subtotal of Cash Outflows from Financing Activities | 107,008,336.16 | 104,955,579.86 | 1.96 | | Net Cash Flow from Financing Activities | 12,991,663.84 | -54,955,579.86 | 123.64 | | Net Increase in Cash and Cash Equivalents | 281,155,244.95 | -450,900,274.63 | 162.35 | Parent Company Cash Flow Statement In Q1 2021, parent company net cash flow from operating activities remained stable, with significantly reduced investment cash outflows narrowing the negative investing cash flow, and financing cash flow remaining negative but with a smaller outflow Parent Company Cash Flow Statement Major Item Changes (Q1 2021 vs. Q1 2020) | Item | Q1 2021 (Yuan) | Q1 2020 (Yuan) | Change (%) | | :--- | :--- | :--- | :--- | | Subtotal of Cash Inflows from Operating Activities | 1,133,024,911.40 | 1,063,163,836.04 | 6.57 | | Subtotal of Cash Outflows from Operating Activities | 721,735,892.40 | 653,637,448.44 | 10.42 | | Net Cash Flow from Operating Activities | 411,289,019.00 | 409,526,387.60 | 0.43 | | Subtotal of Cash Inflows from Investing Activities | 13,208,421.00 | 0.00 | N/A | | Subtotal of Cash Outflows from Investing Activities | 123,606,338.73 | 764,917,470.89 | -83.84 | | Net Cash Flow from Investing Activities | -110,397,917.73 | -764,917,470.89 | 85.57 | | Subtotal of Cash Inflows from Financing Activities | 0.00 | 0.00 | N/A | | Subtotal of Cash Outflows from Financing Activities | 2,164,334.50 | 2,973,188.58 | -27.28 | | Net Cash Flow from Financing Activities | -2,164,334.50 | -2,973,188.58 | 27.28 | | Net Increase in Cash and Cash Equivalents | 298,784,653.88 | -357,244,817.68 | 183.50 | New Lease Standards Adoption: Initial Financial Statement Adjustments During the reporting period, the company did not adopt new lease standards for the first time or adjust initial financial statements accordingly New Lease Standards Adoption: Retrospective Adjustments During the reporting period, the company did not adopt new lease standards for the first time or retrospectively adjust prior period comparative data Audit Report This first quarter report is unaudited and thus does not include an audit report