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Transportation

China Merchants Holdings (International) Co., Ltd.

  • 17.34 HKD
  • +0.18
  • +1.05%
  • Hong Kong
    Apr 20, 2018
  • Ticker
    HKG(144)
  • Prev. close
    17.16
  • Market cap (HKD)
    56,243.90M
  • Market cap (USD)
    7,168.46M
  • Shares
    3,277.62M

Company Background

China Merchants Port Holdings is China's stated-owned port operator. Its parent company China Merchants Group was the first Chinese company to operate commercial vessels, establish an insurance company and a bank. The company's predecessor was founded in 1991 in Hong Kong and in 1997 changed to its current name.

The company has port facilities in Hong Kong and mainland China, including in Shenzhen, Ningbo, Shanghai, Qingdao, Tianjin and Xiamen. It also operates overseas, including in Nigeria and Djibouti among other African countries, South Asia and Europe. The company has about 130 berths for loading and unloading at wharves and piers around the world, accommodating 60 million containers. It has more than a 30% share of the berths in mainland China.

In recent years, the company has stepped up its upgrade of port facilities overseas as part of China's "Maritime Silk Road" plan. Proposed by Chinese President Xi Jinping, the sea routes are aimed at connecting China to Europe via Southeast Asia and the Middle East.

In 2014, the company held a groundbreaking ceremony for a new container terminal at the Port of Colombo, Sri Lanka. Worth more than $500 million, the terminal is one of the country's largest foreign investment projects. China Merchants Holdings (International) is also helping fund a $10 billion port in Bagamoyo, Tanzania. The port, which is being promoted by the Tanzanian government, is likely to become the largest in Africa.

Business Summary

China Merchants Port Holdings Co., Ltd. engages in ports operation, bonded logistics and cold chain operations, property development and investment. The company operates through the following business segments: Ports Operation, Bonded Logistics Operations, Port-related Manufacturing Operations, and Other Operations. The Ports Operation segment includes container terminal operation, bulk and general cargo terminal operations. The Bonded Logistics Operations segments include logistic park operation, ports transportation, cold storage and logistics operation and airport cargo handling. The Port-related Manufacturing Operations segment includes construction of modular housing and container manufacturing. Its port network expands across the Bohai Economic Zone, the Yangtze River Delta, the Xiamen Bay Economic Zone, the Pearl River Delta, and the Southwest region includes the coastal hub ports in Hong Kong, Shenzhen, Ningbo, Shanghai, Qingdao, Tianjin, Xiamen Bay and Zhanjiang. China Merchants Holdings is also developing marine logistics services relating to the port industry, which include the Bonded Logistics Park in Shenzhen, Qingdao and the Tianjin Haitian Bonded Logistics Zone, apart from the fast and safe information platforms serving for its terminals, logistics parks and customers, and the South China Shuttle Barge Services to Shenzhen western terminals. The company was founded in May 28, 1991 and is headquartered in Hong Kong.

Financial Highlights

Dec 2017 HKDUSD
Revenue8,692M1,115.38M
Gross Profit3,441M441.56M
Operating income2,271M291.42M
Income before tax7,445M955.36M
Net income6,028M773.53M
EBITDA3,828M491.22M
Diluted EPS1.830.23
Dividends Per Share0.810.10
Total Assets131,951M16,879.35M
Total liabilities42,310M5,412.35M
Total equity73,447M9,395.44M
Operating cash flow----
Currency in HKDCurrency in USD

Historical Data

 Dec 2013Dec 2014Dec 2015Dec 2016Dec 2017
Revenue 7,758M 8,257M 8,233M 7,976M 8,692M
Gross Profit 3,197M 3,472M 3,595M 3,317M 3,441M
Operating income 2,376M 2,503M 2,642M 2,336M 2,271M
Income before tax 1,972M 1,732M 2,281M 2,997M 7,445M
Net income 4,213M 4,526M 4,808M 5,494M 6,028M
EBITDA 3,401M 3,764M 3,850M 3,590M 3,828M
Diluted EPS 1.66 1.59 1.54 1.75 1.83
Dividends Per Share 0.77 0.77 0.77 0.87 0.81
Total Assets 89,191M 102,436M 102,349M 103,113M 131,951M
Total liabilities 32,765M 42,570M 40,924M 44,594M 42,310M
Total equity 48,599M 52,150M 53,604M 50,689M 73,447M
Operating cash flow 4,161M 2,967M 5,003M 3,874M --
 Dec 2013Dec 2014Dec 2015Dec 2016Dec 2017
Revenue 1,000.17M 1,064.77M 1,061.96M 1,027.50M 1,115.38M
Gross Profit 412.16M 447.72M 463.71M 427.31M 441.56M
Operating income 306.31M 322.77M 340.79M 300.93M 291.42M
Income before tax 254.23M 223.34M 294.22M 386.08M 955.36M
Net income 543.14M 583.64M 620.18M 707.76M 773.53M
EBITDA 438.46M 485.38M 496.60M 462.48M 491.22M
Diluted EPS 0.21 0.20 0.19 0.22 0.23
Dividends Per Share 0.09 0.09 0.09 0.11 0.10
Total Assets 11,502.95M 13,209.28M 13,206.06M 13,299.49M 16,879.35M
Total liabilities 4,225.69M 5,489.46M 5,280.41M 5,751.72M 5,412.35M
Total equity 6,267.80M 6,724.82M 6,916.51M 6,537.85M 9,395.44M
Operating cash flow 536.44M 382.60M 645.33M 499.06M --

Valuation Measures

Dec 2017
PER11.12
ROA5.12%
ROE9.71%
Operating margin26.12%
Profit margin69.35%

Key executives

  • Managing Director & Executive Director: Jing Tao Bai
  • Chief Financial Officer: Sheng Zhou Lu
  • Executive Director & Deputy General Manager: Zhi Xian Wang
  • Overseas Operation Officer: Yun Shu Liu
  • General Manager-Audit Department: Jian Li Zhao

Shareholders

  • China Merchants Union BVI Ltd. (32.8%)
  • China State-Owned Assets Supervision & Admn Commission (28.9%)
  • The Vanguard Group, Inc. (1.3%)
  • CAPFI DELEN Asset Management SA (1.2%)
  • BlackRock Fund Advisors (1.1%)
  • Causeway Capital Management LLC (1.0%)
  • Eastspring Investments (Singapore) Ltd. (0.8%)
  • Invesco Hong Kong Ltd. (0.8%)
  • Hermes Investment Management Ltd. (0.8%)
  • Capital Research & Management Co. (Global Investors) (0.6%)

Contact Details

  • Website:http://www.cmport.com.hk
  • Address: 38th Floor, China Merchants Tower, Shun Tak Centre, Hong Kong, Hong Kong
  • Phone: +852.2102.8888

Related Companies

  • Keen Field Enterprises Ltd.
  • Mega Shekou Container Terminals Ltd.
  • Team Able International Ltd.
  • China Merchants Port Development (Shenzhen) Co., Ltd.
  • China Merchants Hldgs International China Investment Co. Ltd.
  • Park Base Investments Ltd.
  • CMHI Caymans, Inc.
  • Ningbo China Merchants International Terminals Ltd.
  • CMHI Finance (Cayman), Inc.
  • CM Houlder (SEA) Pte. Ltd.
  • CM Houlder Insurance Brokers (Singapore) Pte. Ltd.
  • Shenzhen Malai Storage Co. Ltd.
  • China Merchants (Luxembourg) SARL
  • China Merchants Holdings (Djibouti) FZE
  • Malai Warehouse Co. Ltd.
  • China Merchants Finance Co. Ltd.
  • China Merchants Bonded Logistics Co., Ltd.
  • Colombo International Container Terminals Ltd.
  • CMH International (China) Investment Co. Ltd.
  • Jingfeng Enterprises Co., Ltd.
  • China Merchants International Port Ningbo Co. Ltd.
  • Boom Day Holdings Ltd.
  • China Merchants Port Service Qingdao Co., Ltd.
  • Shenzhen China Merchants Venture Co., Ltd.
  • Shenzhen China Merchants Real Estate Co., Ltd.
  • Shenzhen China Merchants Petrochemical Co. Ltd.
  • China Merchants International Co. Ltd.
  • China Merchants Jinshan Industrial Zone Co. Ltd.
  • China Merchants Transportation Holdings Co. Ltd.
  • China Merchants Godown Wharf & Transportation Co. Ltd.

Competitors

  • Nippon Yusen Kabushiki Kaisha
Last Updated on 20 Apr, 2018

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