China Merchants Pacific : 1Q2016 Additional Information on Toll Road Operation

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(Company Registration No. 198101278D)

Additional Information on Toll Road Operations Traffic Volume Figures

Traffic Volume per road ('000 vehicles)	FY2016	FY2015	Change (%)
	1Q	1Q
Yongtaiwen Expressway	3,048	2,792	9.2%
Beilun Port Expressway	2,473	2,337	5.8%
Jiurui Expressway	455	431	5.6%
Guiliu Expressway	1,075	1,282	-16.1%
Guihuang Highway	1,926	1,934	-0.4%
Total	8,977	8,776	2.3%

Revenue by Toll Roads

Toll Revenue (RMB '000)	FY2016	FY2015	Change (%)
	1Q	1Q
Yongtaiwen Expressway	321,759	295,176	9.0%
Beilun Port Expressway	77,485	70,118	10.5%
Jiurui Expressway	17,181	18,669	-8.0%
Guiliu Expressway	145,463	160,563	-9.4%
Guihuang Highway	46,500	48,560	-4.2%
Total	608,388	593,086	2.6%

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Additional Information on Toll Road Operations (cont'd) Contribution to Group's Net Profit Attributable to Shareholders by Toll Roads

(HK$'000)	FY2016			FY2015			Change %
	1st Quarter			1st Quarter
	Share of Results	Subsidy Income	Total	Share of Results	Subsidy Income	Total
Joint Ventures ("JV")
Guiliu Expressway	34,034	34,034	43,741	-	43,741	-22.2%
Guihuang Highway	22,585	5,269	27,854	19,778	5,707	25,485	9.3%
Net Profit from JV	56,619	5,269	61,888	63,519	5,707	69,226	-10.6%
Subsidiaries
Yongtaiwen Expressway	93,936	85,809	9.5%
Beilun Port Expressway	30,150	19,469	54.9%
Jiurui Expressway	4,103	7,400	-44.6%
Guixing Expressway (1)	7,526	-	n.m.
Guiyang Expressway (1)	9,584	-	n.m.
Yangping Expressway (2)	663	-	n.m.
Net Profit from Subsidiaries	145,962	112,678	29.5%
Total	207,850	181,904
Others
Other revenue & expenses (3)	(37,200)	(34,320)	8.4%
Net Profit from Toll Road Operations	170,650	147,584	15.6%

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The financial results of Guangxi Guixing Expressway and Guangxi Guiyang Expressway were consolidated with effect from 16 October 2015.

The financial results of Guangxi Yangping Expressway was consolidated with effect from 23 September 2015.

These comprise deferred income, effective interest, administrative expenses, finance costs, foreign exchange difference, withholding tax and income tax.

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