ABSTRACT OF INTERIM REPORT FOR YEAR 2017
Stock code: 200053 Short form: Chiwan Base -B Serial number: 2017-54
SHENZHEN CHIWAN PETROLEUM SUPPLY BASE CO., LTD.
THE ABSTRACT OF INTERIM REPORT FOR YEAR 2017
I. Important Notice
This abstract of interim report is extracted from the full text of interim report for year 2017. Investors should read
the interim report from the specified media designated by CSRC to fully understand the Company’s business
achievements, financial status and future plans.
Statement of objections from Directors, Supervisors and Senior Management
□ Applicable √ Inapplicable
All Directors Have Attended the Board Meeting to Review the Interim Report for Year 2017
Non-standard Auditor’s Opinion
□ Applicable √ Inapplicable
Preliminary Plan for Profit Distribution to the Common Shareholders or Turning the Capital Reserve into the
Share Capital in the Report Period Reviewed and Approved by the Board Meeting
□ Applicable √ Inapplicable
Preliminary Plan for Profit Distribution to the Preference Shareholders in the Report Period
□ Applicable √ Inapplicable
II. Company Information
1. Introduction
Stock Abbreviation Chiwan Base B Stock Code 200053
Stock Exchange Shenzhen Stock Exchange
Contact Person and Contact Method Board Secretary Securities Representative
Name Yu Zhongxia Li Zizheng
14F/ Chiwan Petroleum Building, 14F/ Chiwan Petroleum Building,
Office Address
Shekou, Shenzhen Shekou, Shenzhen
Telephone 0755-26694211 0755-26694211
Fax 0755-26694227 0755-26694227
E-mail Address sa@chiwanbase.com sa@chiwanbase.com
2. Major Accounting Data
Retroactive Adjustment
□ Yes √ No
Unit: RMB
Reporting period (Jan to Last Period (Jan to Change (%)
June, 2017) June, 2016)
Operating Revenue 356,763,898.79 331,048,288.65 7.77%
Net Profit Attributed to Shareholders
11,067,703.47 20,104,453.49 -44.95%
of Listed Company
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ABSTRACT OF INTERIM REPORT FOR YEAR 2017
Net Profit of Non-recurring Gain and
Loss Attributed to Shareholders of 9,585,398.22 19,162,343.58 -49.98%
Listed Company
Net Cash Flows from Operating
141,157,744.09 151,110,099.80 -6.59%
Activities
Basic Earnings per Share
0.05 0.09 -44.44%
(RMB/Share)
Diluted Earnings per Share
0.05 0.09 -44.44%
(RMB/Share)
Weighted Return on Equity（%） 0.62% 1.14% -0.52%
June 30, 2017 December 31, 2016 Change (%)
Total Assets 7,945,275,840.90 7,549,041,526.12 5.25%
Owner’s Equity Attributed to
1,768,340,263.40 1,756,836,179.91 0.65%
Shareholders of Listed Company
3. Share Capital and Shareholders
Unit: Share
Total Number of Preference
Total Common Shareholders
5,519 Shareholders with Resumed Voting 0
in Reporting Period
Rights at Period-end (if any)
Particulars about Top Ten Common Shareholders
Impawned or
Ratio Total shares Non-tradable Frozen Shares
Name Nature
（%） held shares
Status Shares
CHINA NANSHAN - 0
DEVELOPMENT (GROUP) Domestic Legal Person 51.79% 119,420,000 119,420,000
INCORPORATION
China Logistics Holding(12) - unknown
Foreign Legal Person 19.90% 45,890,000 0
PTE.LTD.
GUOTAI JUNAN - unknown
SECURITIES(HONGKONG) Foreign Legal Person 1.76% 4,053,271 0
LIMITED
CHINA MECHANTS State-owned Legal - unknown
1.60% 3,684,162 0
SECURITIES (HONGKONG) LTD Person
Shenwan Hongyuan Securities Foreign Legal Person - unknown
1.20% 2,755,939 0
(H.K.) Limited
HUANG YINGBIN Domestic Natural Person 1.01% 2,336,898 0- unknown
YU ZHIXIANG Domestic Natural Person 0.62% 1,422,339 0- unknown
Haitong International Securities - unknown
Foreign Legal Person 0.54% 1,250,005 0
Company Limited-Account Client
GREENWOODS CHINA ALPHA - unknown
Foreign Legal Person 0.43% 984,693 0
MASTER FUND
LI WEI Domestic Natural Person 0.27% 623,000 0- unknown
Explanation for the Affiliated Relations or United Among the top ten shareholders, the domestic legal entity
Action of the Top Ten Shareholders shareholder, China Nanshan Development (Group) Incorporation has
no affiliated relations with other shareholders and does not fall into
the scope of united action person stipulated by “Regulation of
Information Disclosure of the Change of Shareholding of listed
company”. It is unknown that whether other tradable-share
shareholders fall into the scope of united action person.
Remarks on Shareholders Involved in Securities Margin N/A
Trading
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ABSTRACT OF INTERIM REPORT FOR YEAR 2017
4. Changes of Controlling Shareholder or Actual Controller
Changes of Controlling Shareholder in the Reporting Period
□ Applicable √ Inapplicable
Changes of Actual Controller in the Reporting Period
□ Applicable √ Inapplicable
5. Particulars about Top Ten Preferred Shareholders
□ Applicable √ Inapplicable
6. Corporate Bonds
Whether the public issued and listed corporate bonds still traded on the stock exchange, which has not been due or
has not been fully paid for on the approval quote date of the interim report...
Yes
(1) Basic Information of the corporate bonds
Bond Balance
Name Abbreviation Code Due Date Interest Rate
(RMB 0000)
2012 Corporate Bonds of
Shenzhen Chiwan Petroleum 12 Chiwan Base Bonds 112140 2019.12.17 57,000 5.78%
Supply Base Co., Ltd.
(2) Major Accounting Data and Financial Index
June 30, 2017 December 31, 2016 Change (%)
Asset-liability Ratio 66.84% 65.37% 1.47%
Reporting period (Jan to June, 2017) Last Period (Jan to June, 2016) Change (%)
EBITDA interest
2.31 2.36 -2.12%
protection multiples
III. Business Discussion and Analysis
Whether the Company needs to comply with disclosure requirements of special industries
No
The Company achieved operating revenue of RMB 356.76 million, an increase of 7.77%, and net profit attributed
to the listed shareholders was RMB 11.07 million, a decrease of 44.95% in the first half of 2017 respectively. The
main reasons for differences are as follows:
Income growth mainly stemmed from 5 newly-built logistics parks putting into operation, as well as rising rental
price and occupancy rate by some of mature-operating logistics parks.
Decrease of net profit includes the following reasons:
Increase of operation costs for new-built logistics parks operation: Assets depreciation and property tax
payment from newly-operation logistics parks resulted in a sharp increase accordingly.
Increase of developing and constructing costs for newly-built and constructing projects: amortization of
newly-developing parks as obtaining land certificate, and an increase of initial start-up expenses as growing
numbers of newly-developing parks
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ABSTRACT OF INTERIM REPORT FOR YEAR 2017
Increase of financial expenses: with the intensifying development of construction on newly Blogis projects,
capital demand and debt financing rose sharply, resulting in interest expenses increased accordingly.
Adjustment for deferred income tax: due to adjustment of accounting methods, the parent company did not
recognize deferred income tax assets in the reporting period, which resulted in an increase of income tax
expenses accordingly.
1. Offshore Oil Logistics Business
Under the continuing recession environment of petroleum industry, accompanying severe challenge from offshore
oil industry and operation of CNOOC Huizhou Base, offshore oil logistics business for the Company still faced
great pressure both in operation and transition of new operation mode. Meanwhile, the Company promoted
transformation and upgrading to new industrial park operations aiming as science and technology innovation,
cultural creativity industry, which is still in the incubation period
Operating revenue of offshore oil logistics business was RMB 70.87 million, an increase of 2.94%, and net profit
was RMB 23.27 million, an increase of 78.98% in the first half of 2017 respectively. Reasons for the changes
mainly stemmed from decline of operation costs caused by decreasing yard renting and equipment leasing and no
income tax accrued.
2. Blogis Business
Operating revenue of Blogis was RMB 278.28 million, increasing by 9.54% and net profit was RMB 41.69
million, decreasing by 13.35% compared with same period last year respectively. Decrease in net profit mainly
because of the costs increasing from asset depreciation and property tax payment accrued as a number of
new-built parks putting into operation in succession, and land amortization accrued as land acquisition confirmed
in reporting period.
Project Development for Blogis in the first half of 2017
In reporting period, the Company has successfully signed investment agreement with local governments including
but not limited to Zhangzhou, Hefei Xinzhan, etc., covering land area of 1,037 Mu and transfer contracts of state
owned lands including but not limited to Wangcheng, Zhejiang Deqing, etc., covering land area of 373 Mu.
Market Competition Pattern for Blogis in 2017
According to the report from China federation of logistics and purchasing, Prosperity index for China Logistics
Industry was 55.8% in June of 2017, reflecting that the logistics industry is in the period of economic expansion.
Meanwhile, China Warehousing index in June of 2017 was reported as 52.7%, which in the expansion zone for 16
consecutive months and rebounded last month. From the economic data in the first half of 2017, with the overall
economic growth and enhanced consumption level, overall storage industry environment would be better in 2017,
and good trend will continue for the overall stability of the logistics industry.
Although storage demand is strong, competition is becoming more severely. With the international tycoon
Prologis, as well as newly-entrant representative Cainiao accelerated their layout of logistics parks, high
occupancy rate of high-end storage accompany sustainable rising rental price is coming back to stability in
recently years. It is expected to face pressure of rental price stagflation and rental rates decline for high-end
storage in some areas in next 1-3 years. And market competition would become more partly intensive because of
supply surge such as Tianjin, Chengdu Area, Suzhou Area, etc.
3. Offshore Engineering and others
CSE: The Company holds 32% stake. CSE contributed an investment income of RMB 9.78 million to the
Company, decreased by 10.52% compared with the same period of last year.
CPEC: The Company holds 20% stake. The investment income from CPEC was RMB -0.36 million in reporting
period.
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ABSTRACT OF INTERIM REPORT FOR YEAR 2017
China Development Finance Limited: The Company holds 20% stake. It contributed investment income of RMB
7.6 million to the Company, with an increase of 90% compared with same period of last year with business
increase.
4. Project Construction Development
(1) Jiaxing Baowan: Construction of Phase I has completed and put into use in April, 2017. Construction of four
warehouses for Phase II, expected to be completed at the end of 2017.
(2) Beijing Baowan: Remoulding of four warehouses has completed and put into use in May, 2017.
(3) Tianjin Bingang Baowan: Construction of two warehouses for Phase I, expected to be completed in December,
2017.
(4) Qingdao Jiaozhou Baowan: The construction of eight warehouses and one multiple-used building, expected to
be completed in October, 2017.
(5) Chengdu Oil and Gas Base: The construction of Phase I has completed in the first half of 2017. The
construction of three workshops, one building and one dormitory building for Phase II, expected to be completed
in March, 2018.
(6) Xi’an Xianyang Baowan: Construction of seven warehouses and one multiple-used building, expected to be
completed in January, 2018.
(7) Hefei Feidong Baowan: Construction of three warehouses and one multiple-used building for Phase I,
expected to be completed at the end of 2017.
(8) E’zhou Gedian Baowan: Construction of six warehouses, expected to be completed in October, 2017.
(9) Jiangyin Baowan: Construction of five warehouses and one multiple-used building, expected to be completed
in June, 2018.
(10) Shaoxing Baowan: Construction of six warehouses and one multiple-used building, expected to be completed
in June, 2018.
(11) Xitong Baowan: Construction of six warehouses and one multiple-used building, expected to be completed in
June, 2018.
(12) Jiashan Baowan: Construction of eight warehouses and one multiple-used building is at preparatory period.
(13) Xipeng Baowan: Construction of night warehouses and one multiple-used building is at preparatory period.
(14) Luohuang Baowan: Construction of six warehouses and one multiple-used building is at preparatory period.
2. Related Issues of Financial Report
(1) Adjustment of Accounting Policy, Accounting Estimation and Accounting Method Compared with the
financial statements during the previous accounting period
□ Applicable √ Inapplicable
(2) Necessary Retrospective Restatement for Significant Correction of Accounting Errors during the
Report Period
□ Applicable √ Inapplicable
(3) Adjustment Illustration of Consolidated Statement Scope Compared with the financial statements
during the previous accounting period
√ Applicable □ Inapplicable
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ABSTRACT OF INTERIM REPORT FOR YEAR 2017
Three new entities combined into consolidated financial statement as follows:
Huazhong Baowan Logistics Investment Co., Ltd., Wuhan Qingshan Baowan Logistics Co., Ltd, Zhangzhou
Baowan Logistics Co., Ltd;
Chanzhou Baowan Logistics Co. Ltd. was cancelled.
Board of Directors
Shenzhen Chiwan Petroleum Supply Base Co., Ltd.
August 30, 2017
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