Company code: China Merchants Energy Shipping Co.Ltd(601872) company abbreviation: China Merchants Energy Shipping Co.Ltd(601872) China Merchants Energy Shipping Co.Ltd(601872)
Annual report for 2021
Important tips
1、 The board of directors, board of supervisors, directors, supervisors and senior managers of the company guarantee the authenticity, accuracy and integrity of the contents of the annual report, and there are no false records, misleading statements or major omissions, and bear individual and joint legal liabilities. 2、 All directors of the company attended the board meeting. 3、 ShineWing Certified Public Accountants (special general partnership) issued a standard unqualified audit report for the company. 4、 Xie Chunlin, the person in charge of the company, LV Shengzhou, the person in charge of accounting, and Zhai Wenfeng, the person in charge of the accounting organization (Accounting Supervisor), declare that they guarantee the authenticity, accuracy and completeness of the financial report in the annual report. 5、 The profit distribution plan or the plan of converting accumulation fund into share capital in the reporting period adopted by the resolution of the board of directors
1. In 2021, the net profit reported by the parent company was 104487706333 yuan, and the statutory surplus reserve of 10% was 10448770633 yuan;
2. Based on the number of shares to be distributed on the equity registration date when the profit distribution plan for 2021 is implemented, it is proposed to distribute a cash dividend of RMB 1.10 (including tax) for every 10 shares. As of December 31, 2021, the total share capital of the company is 8107841801 shares, and the total cash dividend to be distributed is 89186259811 yuan (including tax). Cash dividends accounted for 30.17% of the net profit actually attributable to the shareholders of China Merchants Energy Shipping Co.Ltd(601872) listed company during the reporting period according to the consolidated statements.
After the issuance of the profit distribution plan and before its implementation, if the share capital of the company changes, the distribution amount per share will remain unchanged and the total distribution amount will be adjusted accordingly. 6、 The risk statement of forward-looking statements √ applicable □ not applicable to the forward-looking descriptions of the company’s strategy, planning, plan, market outlook, operating revenue objectives and other forward-looking statements involved in this report, which does not constitute a substantive commitment to the company’s shareholders, potential investors and other report users. Please pay attention to the investment risks. 7、 Whether there is any non operational occupation of funds by the controlling shareholders and their related parties? VIII. Whether there is any external guarantee in violation of the specified decision-making procedures? IX. whether more than half of the directors cannot guarantee the authenticity, accuracy and integrity of the annual report disclosed by the company? No
10、 Tips on major risks: This report has described the risk factors such as industry and market. Please refer to the relevant chapters. 11、 Others □ applicable √ not applicable
catalogue
Section 1 interpretation Section 2 company profile and main financial indicators Section III Management Discussion and Analysis Section IV corporate governance Section 5 environmental and social responsibility 71 section VI important matters Section VII changes in shares and shareholders Section VIII preferred shares 102 section 9 relevant information of bonds 103 section x financial report one hundred and three
1. The 2021 annual report and its abstract signed by the chairman of the company;
2. The text of the financial report containing the signatures of the person in charge of the company, the person in charge of accounting work and the person in charge of the accounting institution and stamped with the catalogue seal of the documents for future reference;
3. All documents publicly disclosed in newspapers and periodicals designated by the CSRC during the reporting period;
4. Other relevant information.
Section I interpretation
1、 Interpretation in this report, unless the context otherwise requires, the following words have the following meanings: Interpretation of common words
China Merchants shipping refers to China Merchants Shipping Co., Ltd
China Merchants Group refers to China Merchants Group Co., Ltd
Hong Kong Minghua refers to Hong Kong Minghua Shipping Co., Ltd., which was established in January 1980. At present, the company’s dry bulk cargo (hkmw) fleet is centralized under the management of the company
Haihong company (AMCL) refers to Haihong shipping (Hong Kong) Co., Ltd., which was established in 1993. At present, the oil tanker fleet of the company is mainly managed by the company
BVI company refers to China Merchants Energy Transportation Investment Co., Ltd. (registered in BVI)
Cvlcc, China VLCC refers to China Energy Transportation Co., Ltd
Cvloc, China VLOC refers to China Super Large Ore Carrier Transportation Co., Ltd
CLng company refers to China LNG transportation (holding) Co., Ltd
Sinotrans Changhang refers to Sinotrans Limited(601598) Changhang Group Co., Ltd
Sinotrans Container Transportation Co., Ltd
Transportation, investment promotion and centralized transportation
Economic and trade shipping refers to China Economic and trade Shipping Co., Ltd
Hengxiang holding refers to Hengxiang Holding Co., Ltd
Shenzhen ro ro refers to Shenzhen Changhang ro ro Logistics Co., Ltd
CMRO refers to Guangzhou CMRO Transportation Co., Ltd
Shanghai International refers to Shanghai Changhang International Shipping Co., Ltd., which has been renamed “Shanghai Merchants Minghua Shipping Co., Ltd.”
Shanghai Minghua refers to Shanghai Merchants Minghua Shipping Co., Ltd
Economic and trade shipping Hong Kong refers to China Economic and trade shipping (Hong Kong) Co., Ltd
China Merchants Haitong refers to China Merchants Haitong Trading Co., Ltd
China Merchants oil trade refers to China Merchants Energy Trade Co., Ltd
Yuan refers to RMB unless otherwise specified. If it refers to other monetary units, please specify.
LNG refers to liquefied natural gas (liquefied natural gas), which usually refers to the natural gas liquefied at minus 163 ℃ under normal pressure.
Bulk carrier refers to the bulk carrier, which is used to transport bulk goods, such as grain, coal, iron ore, chemical fertilizer and cement.
VLOC refers to bulk carriers with a load of more than 200000 tons, which are only used to transport ore. It is called very large ore carrier (VLOC for short) and ultra – large ore carrier (uloc for short).
Ultramax refers to the ultimate flexible bulk carrier, i.e. a bulk carrier with a payload of 60000 tons to 67000 tons.
Capesize refers to the Cape of good hope bulk carrier (commonly known as “cape type” in Hong Kong and Taiwan), that is, the bulk carrier with a deadweight of more than 120000 tons.
VLCC refers to super oil tanker, which refers to super large oil tanker with a payload of more than 200000 tons. It is usually used to transport and store crude oil and fuel oil.
Aframax refers to aframax tankers with a deadweight ton of 80000 to 120000 tons.
Panamax bulk carrier refers to the Panamax bulk carrier, which generally has a carrying capacity of 60000 to 100000 tons.
BDI refers to the Baltic dry bulk index, which is the global freight rate index of dry bulk ships published by the Baltic Exchange every trading day. Among them, BCI index accounts for 40% of the weight, and BPI and BSI index account for 30% of the weight respectively.
BDTI refers to the Baltic tanker (crude oil) freight index, which is composed of the weighted average of freight index of 18 standard routes.
BCI refers to the freight rate index of the Baltic Cape of good hope (also known as Cape type) bulk carrier
BPI refers to the freight rate index of Panamax bulk carriers in the Baltic Sea
BSI refers to the Baltic Sea super flexible bulk carrier freight rate index
BHSI refers to the Baltic handy bulk carrier freight rate index
BIMCO refers to the Baltic Shipping Association
Clarkson refers to a famous British shipping brokerage company
Time charter refers to time charter, a commonly used form of ship leasing, generally abbreviated as “t / C”, that is, the ship provided by the lessor to the charterer and manned by the lessor shall be used by the charterer for the agreed purpose within the agreed period, and the rent shall be calculated on a daily basis. In the case of time charter, the charterer shall bear the fuel cost, port use fee and other expenses of the ship.
Voyage charter / voyage charter refers to voyage charter, which is a commonly used form of ship charter, generally abbreviated as “V / C”, that is, the Lessor provides the charterer with the ship or part of the shipping space of the ship, and the agreed goods are shipped between ports, and the charterer pays the agreed freight.
DWT refers to dead weight tonage, generally abbreviated as “DWT”, that is, the maximum weight allowed to be loaded by the transport ship in a certain water area and season, including cargo capacity, personnel and food, fresh water, fuel, lubricating oil, boiler water, spare parts and supplies, also known as total DWT.
Dock repair, D / D refers to dry docking, that is, the repair of components and equipment of the underwater part of the hull. When the ship enters the dock for maintenance, it can carry out hull cleaning, derusting and painting, and carry out comprehensive and thorough repair such as replacing the hull steel sector as required. At the same time, it can also repair, maintain and upgrade the ship equipment, so as to meet the fixed standards of the classification society.
TCE refers to time charter equivalent, i.e. [total charter freight – (fuel cost + port cost + other voyage costs)] / actual voyage days, usually in US dollars / day.
Ws refers to the abbreviation of the tanker freight index Worldscale, which is the abbreviation of the “new worldwide tanker nominal freight scale” effective on January 1, 1989. The rate table lists the basic freight rate of each route of the oil tanker corresponding to WS100, which is adjusted once a year according to the voyage cost in the first four quarters. The WS index value is the percentage of the market freight and the flat rate specified in the rate table, reflecting the freight price level of oil tankers in the spot market.
CoA refers to the contract of affreightment, which refers to the contract of carriage of goods by sea in which the carrier transports the agreed quantity of goods from the agreed loading port to the agreed destination port in batches within the agreed period.
Ballast water convention means《
