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Merchants Group Introduction

Merchants Group (CMA) is an important state-owned enterprise directly managed by the Central Government, headquartered in Hong Kong, and one of the earliest Chinese-funded enterprises to be established and operated in Hong Kong. Headquartered in Hong Kong, China Merchants Group is one of the earliest Chinese-funded enterprises established in Hong Kong, and is a century-old centralized enterprise, a comprehensive centralized enterprise, and a centralized enterprise in Hong Kong.

In 2021, China Merchants Group achieved a good start for the "14th Five-Year Plan", with various economic indicators reaching new heights: operating revenue of RMB929.2 billion, up 14.2% year-on-year, total profit of RMB212.2 billion, up 21.2% year-on-year, net profit of RMB169.5 billion, up 23.7% year-on-year, and total assets of RMB1.1 billion as at the end of 2021, up 14.2% year-on-year. Total assets of 11.5 trillion yuan by the end of 2021, of which total assets and net profit ranked first among centralized enterprises for several consecutive years. China Merchants Group has become a centralized enterprise that has been awarded "A" grade in the business performance assessment by the State-owned Assets Supervision and Administration Commission of the State Council for 18 consecutive years, and has been an "outstanding enterprise" for six consecutive terms of office; in 2022, China Merchants Group will be officially transformed from a pilot enterprise of state-owned capital investment company to a state-owned capital investment company. China Merchants continues to be an enterprise with two Fortune 500 companies, and China Merchants Group and China Merchants Bank continue to improve their ranking.

China Merchants is the pioneer of China's national industry and commerce, founded in 1872 during the foreign affairs movement. China Merchants is China's first modern joint-stock company, has formed China's first modern merchant fleet, opened China's first bank, the first insurance company, etc., created China's modern national shipping industry, led to the development of many other modern industries, in China's modern economic history and social development history has an important position. In 1978, China Merchants joined the reform and opening up, and in 1979, it started to develop the Shekou Industrial Zone, the first industrial zone open to the outside world, which has had a wide impact at home and abroad, and founded the first joint-stock commercial bank in China, China Merchants Bank, China's first joint-stock commercial bank, which is wholly held by enterprise legal persons, and the first insurance company in China. China Merchants Bank, the first joint-stock insurance company in China, and Ping An Insurance, the first joint-stock insurance company in China, have provided useful experience for China's reform and opening-up endeavor.

CMC is a comprehensive enterprise with diversified businesses. At present, the main businesses of CMA are focused on transportation and logistics, integrated finance, comprehensive development of cities and parks, as well as new industries such as big health and testing, which have been laid out in recent years.

CCM is the world's leading investor, developer and operator of ports, and has established a relatively complete port network in China's major coastal hub ports, investing in, or investing in and owning the right to manage, terminals in Hong Kong, Taiwan, Shenzhen, Ningbo, Shanghai, Qingdao, Tianjin, Dalian, Yingkou, Zhangzhou, Zhanjiang, Shantou, and other containerized hub ports, as well as successfully laying out in Southeast Asia, Africa, Europe, the Middle East, In 2021, the Group's port segment will achieve a container throughput of 134 million TEUs and a break-bulk throughput of 880 million tons, and in 2021, the Group's ports will be ranked No. 1 in the world in terms of equity cargo throughput.

Shipping is China Merchants' ancestral and main business. By the end of 2021, the Group's shipping business fleet has a total capacity (including orders) of 394 vessels with a total of 47.67 million deadweight tons, ranking second in the world; among them, there are 54 VLCCs (Very Large Crude Carriers) and 34 VLOCs (Very Large Ore Carriers), both ranking first in the world in terms of scale; the scale of the refined petroleum product fleet is ranked the first in the Far East region; the liquefied natural gas transportation fleet, the roll-on roll-off fleet and the container fleet are leading in the country, while the crewing capacity of the fleet ranks first in the Far East. The fleet of LNG carriers, Ro-Ro vessels and container vessels is the leading one in China, and it also has unique advantages in crew management and overseas network services. After asset reorganization and capital operation, China Merchants Shipping has formed a business pattern of "oil, bulk, gas, vehicle, collector, pipeline and network", with transportation routes all over the world, and is now actively building digital ships, constructing intelligent shipping, and creating the "New Hailiao" benchmark ship. It is now actively building digital ships, constructing intelligent shipping, creating the "New Hailiao" benchmark ship, and making every effort to build a world-class shipping enterprise.

Sinotrans Limited (Sinotrans) is a second-tier subsidiary of China Merchants Group and a unified operation platform and brand for logistics business. With the vision of building a world-class intelligent logistics platform enterprise, Sinotrans has a service network that covers the whole country and major economic zones around the world. According to the 2020 list released by Armstrong & Associates, Inc., Sinotrans ranks third in the world for freight forwarding services and seventh in the world for global third-party logistics. As of the end of 2021, there are more than 1,000 domestic enterprises in the country***, with a national network distributed in 31 provinces, autonomous regions, municipalities directly under the central government, as well as Hong Kong; and 65 operating outlets overseas, covering 40 countries and regions.

China Merchants Highway Network Technology Holding Company Limited ("CMHN"), a subsidiary of China Merchants, is a comprehensive highway investment and operation service provider with the longest mileage of investment and operation, the widest coverage of the region, and the most complete industrial chain in China, and its scope of business includes four major businesses, namely, investment and operation, transportation science and technology, intelligent transportation, and transportation ecology. Its business scope includes four major businesses: investment and operation, transportation technology, intelligent transportation and transportation ecology, and it is making every effort to build a transportation technology infrastructure investment management platform. By the end of 2021, the total mileage of highways, bridges and tunnels invested and operated by China Merchants Highway amounted to 12,711 kilometers, with a network covering 22 provinces, autonomous regions and municipalities directly under the central government, and the mileage of projects managed by the company amounted to 1,799 kilometers, which were distributed in 15 provinces, autonomous regions and municipalities directly under the central government; 21 research and development platforms of various types at national, provincial and ministerial levels were built to form a complete highway industry chain, including investigation, design, featured construction, investment, operation, maintenance and service, It has formed the whole industry chain of highway business from survey, design, featured construction to investment, operation, maintenance, service, etc.; its intelligent transportation business covers the fields of intelligent charging, intelligent security, traffic broadcasting, electronic invoice, ETC comprehensive service, etc., and is committed to providing customers with intelligent operation, intelligent charging technical services and overall solutions.

China Changjiang Shipping Group Corporation (CSCGC), a subsidiary of China Merchants, is China's largest inland waterway shipping enterprise, which is y engaged in the Yangtze River Economic Belt, and has been playing the role of the main force of state-owned enterprises in the transportation of large quantities of goods in the Yangtze River, disaster relief and the reception of first and second level security guards for the Three Gorges of the Yangtze River, and has been regarded as the "national team of the Yangtze River". It is known as the "National Team of Yangtze River", mainly engaged in river and sea transportation, cruise tourism and port and shipping services. It is building a specialized regional company in the Yangtze River Economic Belt with "river and sea integration, land and water linkage, green development, innovation leadership, and China's leading position", and is steadily moving towards the strategic goal of "becoming China's leading integrated service provider of river and sea intermodal transportation and cruise tourism".

The comprehensive financial sector of China Merchants has realized a "4+N" business layout, covering banking, securities, insurance, direct investment, and a variety of financial (financial leasing, non-performing asset management) and other areas, to create a fully licensed, full life cycle comprehensive financial services platform. Empowered by financial technology, strengthening innovation leadership and building service characteristics, the company is committed to providing customers with high-quality financial services with good experience and high value. The comprehensive financial sector practiced the concept of "industrial strength, financial services for the country, and promoting production through finance", and continued to strengthen the construction of wealth management, financial technology, risk management and control of the "three competencies", to create a trillion-dollar pension platform and a trillion-dollar private equity platform.

China Merchants Bank, which was initiated by China Merchants and serves as the largest shareholder, is China's leading joint-stock commercial bank, with its retail business establishing a leading position in the industry at an early stage, and its return on capital, asset quality, capital market valuation and other indexes ranking at the forefront of the domestic listed banks.2021, China Merchants Bank was ranked 14th in terms of Tier 1 capital and 10th in terms of brand value in the ranking of the world's banks published by The Banker Magazine. brand value, China Merchants Bank ranked 14th by Tier 1 capital and 10th by brand value.

CMS is one of the leading listed securities companies in China. By the end of 2021, China Merchants Securities has 12 branches and 259 securities business offices in Beijing, Shanghai, Guangzhou, Shenzhen and other cities, and has subsidiaries in Hong Kong SAR through China Merchants Securities International Limited, as well as in the United Kingdom, Singapore, South Korea and other places, and has built up a domestic and international integrated and comprehensive securities service platform, and has maintained the AA Class A classification and supervisory ratings for 14 consecutive years, which sets a a model of compliant operation.

Boshi Fund is currently one of the largest fund companies in China in terms of asset management scale. As of the end of 2021, the total assets under management of Boshi Fund amounted to over RMB 1.67 trillion, of which the total public assets under management of Boshi Fund amounted to over RMB 536.6 billion after excluding currency funds.

China Merchants Renhe Life, established after the successful re-listing of Renhe Insurance, will have a premium scale of more than RMB 10 billion in 2021, and has already realized its organization layout in Guangdong Province, Jiangsu Province, Henan Province and Beijing. China Merchants Renhe Life will continue to promote the implementation of the four strategies of "value leadership, innovation drive, technology empowerment, and risk control and protection", give full play to the advantages of shareholders and the advantages of latecomers, and strive to build a boutique insurance service provider with innovative features.

CMVC is a venture capital platform of China Merchants Group that promotes the integration of industry and innovation and technology through investment, and focuses on discovering, cultivating, and integrating industrial science and technology innovation projects in China Merchants' industrial value chain. By the end of 2021, China Merchants Venture Capital has laid out 28 sub-funds and more than 100 innovative projects, with an asset management scale of more than 14 billion yuan.

Merchants Leasing adheres to the original intention of combining production and financing, actively expands the cooperation of production and financing within the Group, adheres to the market-oriented and professional operation, and strives to become a first-class domestic financial leasing company with distinctive features, providing customers with comprehensive, high-quality and efficient financial leasing solutions.

Peace of mind assets around the big risk resolution, continue to focus on the main business of non-performing assets, service market demand, innovation and profit model, investment banking concepts, fund operation investment management of alternative assets, is committed to building the most distinctive features of the country's first-class local asset management company.

Merchants Jinke is a unified service platform of financial science and technology initiated and founded solely by Merchants Finance in 2017, which is also an important support for the digital transformation and innovation of Merchants Group. Adhering to the innovative and pioneering spirit of China Merchants, China Merchants Golden has passed the certification of national high-tech enterprises, utilizing the latest technology to build digital products such as financial control technology, management technology and insurance technology, and constructing basic technology platforms and work collaboration platforms covering the whole group.

CCMS provides comprehensive urban and park development services through China Merchants Shekou, Zhangzhou Development Zone and other main bodies. China Merchants Shekou was born in response to the reform and opening up, adhering to the original intention of carrying a better life, and transforming to high-quality development with the comprehensive development model of "front harbor - middle district - back city" to build a better life circle. In 2021, China Merchants Shekou's sales grew against the trend, with contracted sales of RMB 326.8 billion, ranking seventh in the industry. The company's strategic transformation is progressing steadily. At the same time, the company's strategic transformation has been steadily advancing, with steady growth in revenue from holding business and being ranked No. 1 industrial park operator in China; the first five-star-flagged cruise ship "China Merchants Eden" was formally put into operation; the secondary development of the whole island of Pisces Island in Zhangzhou Development Zone, the first case of operating sea project approved by the State Council, kicked off; the light assets of the convention brand were accelerated and exported; the REIT of Shekou Park accelerated; and the REIT of Shekou Park was launched. The light assets of the convention and exhibition brand were accelerated; the REITs of Shekou Industrial Park were successfully listed, which was the first and only project of the central enterprise; and major projects of regional development such as Xiongan New Area, Hainan Free Trade Port, Yangtze River Economic Belt and Guangdong-Hong Kong-Macao Greater Bay Area were promoted to the ground.

Mercantile Pacific Bay is developed and constructed by Liaoning Province, Dalian City and China Merchants Group. The first 34 companies have "settled" in Taiping Bay, promoting the formation of industrial chain cluster effect. Taiping Bay has been authorized as a special demonstration zone for the comprehensive reform of state-owned enterprises, and has been designated as a green, low-carbon and high-quality development pioneer zone by the state.

Mercantile Exchange also has strong strength in industry and trade. In the field of marine equipment manufacturing, China Merchants Industry Group Co., Ltd (CMIG) has seven shipbuilding and repairing bases at home and abroad, and has built offshore and cruise ship manufacturing clusters in Haimen, delivered China's first polar expedition cruise ship, and constructed a dredger which won the National Scientific and Technological Advancement Grand Prize, and its "Ro-Ro" products won the National Manufacturing Individual Championship. The company has won the National Manufacturing Championship and is a leading marine equipment manufacturer in the industry. China Merchants Haitong Trading Co., Ltd (CMHTC), incorporated in Hong Kong in 1972, is the only comprehensive trading platform under China Merchants Group, and has developed into a comprehensive trading company integrating foodstuffs, transportation and bulk trade. The business network of China Merchants Hai Tong covers a wide range, with branches in 10 cities in China and 7 countries outside China.

China Merchants Inspection, under China Merchants, was established in 2020, and is a strategic emerging industry unit that the Group will focus on cultivating during the "14th Five-Year Plan" period. It owns four national quality inspection centers, including the National Quality Inspection Center for Passenger Vehicles, the National Quality Inspection Center for Motorcycles, the National Quality Inspection Center for Intelligent Internet Connected Vehicles, and the National Quality Inspection Center for Firefighting and Flame-Retardant Products. The company has 8 provincial and ministerial-level science and technology platforms and 2 science popularization bases, and is in a leading position in China in terms of technological capability in the fields of vehicle inspection and fire detection. Our goal is to become China's leading, world-class set of "standards-measurement-inspection-certification" industry chain integration of comprehensive testing technology service providers.

China Merchants Health Industry Holdings Limited (CMHI) is a wholly-owned health industry direct investment platform of China Merchants Group, focusing on the key points and difficulties in the development of China's health industry, with the vision of "value health enabler in the digital era", and with the vision of "science and technology leading, value health, bringing a healthy and better life to the people". With the vision of "value health enabler in the digital era" and the mission of "leading by technology, value health, and bringing a healthy and beautiful life to the people", and with "new technology - new payment - digitalization" as the main track, we are committed to becoming the backbone of China's healthcare industry change by virtue of the double-wheel drive of digital technology and life science and technology.

CMG continues to promote a comprehensive innovation strategy oriented to value creation and led by scientific and technological innovation. in 2021, the Group continued to increase its investment in innovation and research and development (R&D), with an investment of 14.72 billion yuan, an increase of 2.2% year-on-year. The Group added 492 authorized patents throughout the year, including 89 invention patents. Won 27 science and technology awards at the provincial and ministerial levels and above, among which, China Merchants Jiaotong Roads and Bridges Multi-source Collaborative Intelligent Inspection Technology and Equipment Development Project and Tianjin Pharmaceutical Research Institute based on the "substance-pharmacogenetic-efficacy" theory of innovative R & D of traditional Chinese medicines and key technologies and their application projects were awarded the 2020 National Scientific and Technological Progress Award Second Prize, and China Merchants Industry Corporation (CMIC) won the second prize. The invention patent of "a high-pressure water jet descaling process for ships" won the China Patent Award of Excellence. The ro-ro products of Nanjing Jinling under China Merchants Industry were recognized as "Single Champion Products" in the manufacturing industry by the Ministry of Industry and Information Technology; China Merchants National Science and Technology under China Merchants Port was recognized as a "Small Giant" enterprise at the national level, and was the first port, shipping and logistics science and technology enterprise in the country to obtain such recognition. New progress has been made in the construction of scientific and technological innovation platforms, and the National Engineering Research Center for Highway Tunnels of China Merchants Academy of Communications Science and the National Engineering Research Center for Highway Bridge Construction have been included in the new sequence of national engineering centers. Major innovations continued to emerge, including the opening and operation of Mawan Smart Port, which reached the leading level of automated terminals in the industry in terms of operational efficiency; the construction of the "Guangdong-Hong Kong-Macao Greater Bay Area Portfolio" project based on blockchain technology; and the successful delivery of the world's largest tonnage, largest oil storage capacity, and most advanced offshore Floating Production, Storage and Offloading (FPSO) unit, and so on. The Group's digital transformation entered a new phase. The base of digital technology has become more solid, and the target of the "cloud into the lake" action was completed three years ahead of schedule; the China Merchants Cloud Xinchuang Special Zone was built, and the Group became the first centralized enterprise to complete the full-stack adaptation of the domestic chip and operating system and pass the certification. Industrial digitization has achieved stage-by-stage results, "Silk Road Cloud Chain", "car to transport" and other digital products into the market.

CCMS is an important participant and promoter of the national "Belt and Road" initiative. 2021, China Merchants will steadily operate ports around the world and promote the high-quality development of strong overseas ports. In Sri Lanka, it will expand and strengthen its overseas home port and develop synergy between the two ports; in Brazil, it will open up the hinterland market of Paranagua Port and upgrade its logistics facilities; and in Djibouti Port, it will enhance its operational efficiency and put into operation its railroad yard. In the face of recurring overseas epidemics and tremendous pressure on global port operations, the overseas ports maintained good growth. The Company has made meticulous efforts in the comprehensive development of overseas parks and actively built high-quality projects. The number of enterprises in China-White Industrial Park has reached 85, with a contracted investment of more than 1.2 billion US dollars; the Djibouti International Free Trade Zone has landed 192 enterprises in the park, and innovatively develops business in the international market; 33 enterprises have been established in the park in the port of Hambantota in Sri Lanka, and a number of production and processing enterprises have started construction; and 104 enterprises have been established in the Sai Sai Sai Tha Comprehensive Development Zone in Laos. Launching comprehensive logistics services and building a stable and efficient service network. The first "Bay Area" China-Laos international liner was launched, opening up a direct land logistics channel from the Greater Bay Area to ASEAN, normalizing the operation of sea-rail intermodal liner from Thailand to Laos, and completing the deployment of Southeast Asian ports such as Lang Son in Vietnam, Nong Khai in Thailand, and Thanaleng in Laos. The volume of international liner trains and containers carried grew against the trend, with a total of 2,086 trains shipped in the year (the total number of trains shipped since the opening of the China-Europe liner train has exceeded 5,200), an increase of 52.7% year-on-year. The company actively expanded its Eurasian full-link products and developed 14 chartered flights from Hong Kong to Europe.

The China Merchants Group has been contributing to the maintenance of "one country, two systems", support for Hong Kong's anti-epidemic efforts, and the promotion of Hong Kong's prosperity and stability, in line with its tradition of rooting itself in Hong Kong and serving the city. The Chairman of the Group, Mr. Miao Jianmin, was elected as the 16th President of the Hong Kong Chinese Enterprises Association (HKCEA), and called on its member enterprises to actively respond to the challenges posed by the new Crown Pneumonia epidemic, and endeavor to promote Hong Kong's integration into the country's new development pattern. During the critical period of the epidemic situation in Hong Kong, China Merchants and Hong Kong compatriots are in the same boat***, united against the epidemic, **** overcome the difficulties, demonstrating that "the country needs, China Merchants can". The "China Merchants Warm Estate" community care campaign was launched urgently, with an investment of more than HK$23.8 million, to provide anti-epidemic materials to public housing residents, low-income and elderly families, as well as financial support to the underemployed and those whose incomes have plummeted. The Group's property management company, Innofidei Holdings, was at the forefront of epidemic prevention and control and responded positively to the HKSAR Government's request to undertake the service and management of the quarantine center. Sinotrans and China Merchants Port, subsidiaries of the Group, opened a number of fast channels for waterway and railroad transportation of livelihood materials for Hong Kong, as well as a special barge line for materials for Hong Kong, to ensure the smooth flow of the channels for materials for Hong Kong. The Group's subsidiary unit, China Merchants Warehouse Code, has launched an emergency supply plan to actively protect the supply of rice to Hong Kong.

With its long history and strong strength, China Merchants has a wide influence in the industrial and commercial circles at home and abroad.

In 2022, China Merchants Group will adhere to Xi Jinping's Thought of Socialism with Chinese Characteristics for a New Era as its guide, fully implement the spirit of the 19th CPC National Congress and the 19th Plenum, conscientiously carry out the work deployment of the CPC Central Committee, the State Council and the State-owned Assets Supervision and Administration Commission (SASAC) of the State Council, carry forward the spirit of the Great Party Founding, adhere to the general tone of seeking progress while maintaining a steady growth, fully, accurately, and comprehensively carry out the new development concept, serve to construct a new development pattern, comprehensively deepen reform and opening up, adhere to innovation-driven development, adhere to the integration of epidemic prevention and control and company development, integration of development and safety, deepen the supply-side structural reform as the main line, abide by the correctness and innovation, and promote the high-quality development of China Merchants in all aspects, meet the successful convening of the 20th CPC National Congress with excellent achievements, celebrate the 150th anniversary of the founding of China Merchants with practical actions, and make greater contributions to the promotion of the sustained and healthy development of the economy and society, and the construction of a modernized socialist country. The socialist modernization of the country to make greater contributions.

The Investment Promotion Bureau is an institution directly under the government, the main job is to serve the government in the investment promotion of businessmen, to provide information and related services for businessmen, the Investment Promotion Bureau is generally managed with reference to the civil service law of the public sector, the personnel for the public sector cadres, salary and civil servants, but the identity is not a civil servant.