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HK Bourse: Announcement From Xiamen International Port Co. Ltd. -7-

28 Aug 2017 12:23 am
 
 
 
Haitian Terminal and Hairun Terminal 
  of the Group#                                                    2,030,118              2,001,617                     1.4% 
XICT and XHICT*                                                      562,032                663,512                   (15.3%) 
 
                                                                     647,179 
Songyu Terminal                                                                             517,926                    25.0% 
 
                                                                     632,138 
Xinhaida Terminal                                                                           610,152                     3.6% 
 
                                                                   3,871,467 
Total throughput in Xiamen region                                                         3,793,207                     2.1% 
 
Fuzhou Zhongying Terminal                                           136,299                 114,164                   19.4% 
 
                                                                   4,007,766 
Total throughput                                                                          3,907,371                     2.6% 
 
# 
    Since 1 January 2016, Xiamen Container Terminal Group Co., Ltd. ("Xiamen Terminal Group") and Xiamen Hairun 
    Container Terminals Co., Ltd. ("Hairun Terminal") have successively leased and operated Haitong Terminal (Songyu berths 
    No. 4 to No. 6) from Xiamen Haitong Terminal Co., Ltd. respectively, a non-wholly owned subsidiary of Xiamen Port 
    Holding, due to their business development requirements. Therefore, for the purpose of operating information set out herein, 
    the related operating figures of Haitian Terminal and Hairun Terminal included the figures relating to the container business 
    of Dongdu berths No. 5 to No. 16, Haitong Terminal and berths No. 4, No. 5 and No. 6 in Haicang port area of Xiamen port. 
 
*   XICT and Xiamen Haicang International Container Terminals Ltd. ("XHICT") are the joint ventures established by Xiamen 
    Terminal Group with Hutchison Ports Xiamen Limited ("HXC") and Hutchison Ports Haicang Limited, respectively. Since 
    1 September 2008, as a result of the commencement of unified operation between XICT and XHICT, the relevant operating 
    information of XICT also included the figures of XHICT, which were consolidated in the calculation and 100% included 
    in the port business. The Company adopted HKFRS 11 "Joint Arrangements" for the financial year beginning on 1 January 
    2013 and determined the Group's jointly controlled entities as joint ventures with the interest accounted for using equity 
    method; pursuant to the relevant agreement and arrangement entered into on 28 November 2016, XHICT has become a 
    subsidiary of the Group since then; pursuant to the relevant agreement and arrangement entered into on 15 May 2017, XICT 
    has become a subsidiary of the Group since then. 
 
    Songyu Terminal and Xiamen Haicang Xinhaida Container Terminals Co., Ltd. ("Xinhaida Terminal") are terminals 
    controlled and operated, directly or indirectly, by the Group and Xiamen Terminal Group. The relevant operating figures of 
    the above two terminals were 100% calculated into the port business. 
 
 
    Since 20 November 2012, the Group leased and operated Fuzhou Zhongying Terminal from Fuzhou Zhongying Gangwu 
    Co., Ltd. ("Zhongying Gangwu") for operating container and general cargo loading and unloading business and the port- 
    related comprehensive logistics business. 
 
 
 
 
                                                              15 
In the first half of 2017, the container business of the Group maintained a continuous growth on 
the whole. The container business in Xiamen slightly increased by approximately 2.1% over the 
same period of 2016, of which, the container throughput for international trade was approximately 
2.678 million TEUs in the first half, representing a decrease of approximately 2.6%, which was 
mainly due to the fierce competition for foreign trade terminals in Xiamen port as a result of route 
adjustments and shifting to the associated terminals within Xiamen port affected by the alliance of 
the relevant shipping companies, despite the significant growth of the international container vessel 
transloading and domestic feeder-line container transshipment business under the Group in the first 
half; the container throughput for domestic trade was approximately 1.193 million TEUs in the first 
half, representing an increase of approximately 14.4%, which was mainly due to further increase 
in the departure density by the relevant shipping companies, resulting in the growth in container 
transshipment and local container business volume. The container business of Fuzhou Zhongying 
 
Terminal increased by approximately 19.4% compared to the same period of 2016, which was 
mainly due to its strengthened cooperation with external container yards and the effective expansion 
of container joint shipping business for both international and domestic trade. 
 
In response to the above circumstances, the Group has proactively reinforced communication 
with the relevant shipping companies, implemented highly targeted marketing initiatives, strived 
to stabilize and expand the relevant routes and shipments, as well as concentrated our efforts on 
maintaining and growing the port business. Meanwhile, the Group also continued to improve 
the capacity level of berthing service and the operation capacity and scale of its port terminals, 
developed the service commitment standards and rules for implementation and strived to enhance 
its overall competitiveness, so as to attract shipping routes and cargo sources and promote the 
sustained development of its container business. 
 
Bulk/General Cargo Port Business 
 
In the first half of 2017, the bulk/general cargo throughput handled by the Group amounted to a 
total of 13,494,862 tonnes with details were as follows: 
 
                                                       Bulk/general cargo throughput 
                                                 Six months ended 30 June 
                                                         2017            2016 
                                                     (tonnes)                        Increase 
                                                                      (tonnes) 
 
Hailong Terminal, XICT, XHICT, 
  ITG Terminal and Berth No. 2 of 
  Dongdu Terminal#                                     4,325,179       4,146,133              4.3% 
Songyu Terminal*                                          17,622           8,083            118.0% 
Shihushan Terminal, Haiyi Terminal and 
 
                                                       9,126,651 
  Haiyu Terminal                                                              --               100% 
 
                                                      13,469,452 
Total throughput in Xiamen region                                      4,154,216            224.2% 
 
Fuzhou Zhongying Terminal                               25,410           16,497             54.0% 
 
                                                      13,494,862 
Total throughput                                                       4,170,713            223.6% 
                                                 16 
# 
    Xiamen Hailong Terminal Co., Ltd. ("Hailong Terminal") (the berths No. 20 and No. 21 of Haicang port area of 
    Xiamen port) has been put into trial operation since August 2016. Since 1 September 2008, due to the commencement 
    of unified operation between XICT and XHICT, the relevant operating information of XICT also included the figures of 
    XHICT, which were consolidated in the calculation and 100% included in the port business; due to the fulfillment of the 
    arrangement of non-competition undertaking made by the Company to Xiamen Port Development Co., Ltd. ("Xiamen Port 
    Development"), XICT has leased its underlying assets to Xiamen Port Development for the period from 1 July 2015 to 31 
    March 2017, and to Hailong Terminal for the period since 1 April 2017, for operating its bulk/general cargo business; XICT 
    and XHICT have ceased the operation of their bulk/general cargo business since 1 July 2015 correspondingly. Due to the 
    related land and assets resumption in Dongdu Terminal, the other bulk/general cargo business has been gradually transferred 
    to ITG terminal (berths No. 20 and No. 21 in Dongdu port area) since 1 April 2014, except that the related bulk cargo 
    businesses, such as grain bulk business in berth No. 2, were still operated in this berth before August 2016; ITG Terminal 
    has been leased to Xiamen Port Development for the period from 1 April 2014 to 30 June 2017, and to Hailong Terminal 
    since 1 July 2017, correspondingly for specializing in operation of bulk/general cargo business; the related bulk cargo 
    businesses such as grain bulk business in berth No. 2 of Dongdu Terminal have been transferred to Hailong Terminal since 
    August 2016. In addition, Dongdu Terminal and Hailong terminal have successively leased part area of Mingda Terminal 
    (berth No. 8 in Haicang port area of Xiamen port), for the period from November 2009 to June 2017, and from 1 July 2017, 
    respectively, for operating transshipment business of the loading and unloading of bulk/general cargo. Therefore, for the 
    purpose of the operational information set out herein, the relevant operating figures of bulk/general cargo of the relevant 
 
 
 
 

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August 27, 2017 20:23 ET (00:23 GMT)
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