Hong Kong Exchanges and Clearing Limited and The Stock Exchange of Hong Kong Limited take no responsibility for the contents of this announcement, make no representation as to its accuracy or completeness and expressly disclaim any liability whatsoever for any loss howsoever arising from or in reliance upon the whole or any part of the contents of this announcement.

廈 門 國 際 港 務 股 份 有 限 公 司

XIAMEN INTERNATIONAL PORT CO., LTD*

(A joint stock limited company incorporated in the People's Republic of China with limited liability)

(Stock Code: 3378)

OVERSEAS REGULATORY ANNOUNCEMENT

This announcement is made pursuant to Rules 13.09(2)(a) and 13.10B of the Rules Governing the Listing of Securities on The Stock Exchange of Hong Kong Limited and the Inside Information Provisions under Part XIVA of the Securities and Futures Ordinance (Chapter 571 of the Laws of Hong Kong).

The following announcement was released by Xiamen Port Development Co., Ltd, a subsidiary of Xiamen International Port Co., Ltd, whose A shares were listed on the Shenzhen Stock Exchange. The financial statements of Xiamen Port Development Co., Ltd for the first quarter ended 31 March 2021 were not audited, and have been prepared in accordance with the generally accepted accounting principles of the People's Republic of China (the "PRC").

By order of the Board

Xiamen International Port Co., Ltd

Cai Changzhen

Company Secretary

Xiamen, the PRC, 28 April 2021

As at the date of this announcement, the executive Directors are Mr. Cai Liqun, Mr. Chen Zhaohui, Mr. Lin Fuguang and Mr. Chen Zhen; the non-executive Directors are Mr. Chen Zhiping, Mr. Fu Chengjing, Mr. Huang Zirong and Ms. Bai Xueqing; and the independent non-executive Directors are Mr. Liu Feng, Mr. Lin Pengjiu, Mr. Jin Tao and Mr. Ji Wenyuan.

  • For identification purpose only

TEXT OF 2021 FIRST QUARTERLY REPORT OF XIAMEN PORT DEVELOPMENT CO., LTD

Stock Code: 000905

Stock Name: Xiamen Port

Announcement No.: 2021 - 21

TEXT OF 2021 FIRST QUARTERLY REPORT

OF XIAMEN PORT DEVELOPMENT CO., LTD

§1 IMPORTANT

The board of directors (the "Board"), the supervisory committee and the directors, supervisors and senior management of the Company should warrant that the content of this quarterly report is true, accurate and complete, does not have any false representation, misleading statement or material omission, and should bear legal liability jointly and severally.

All the directors attended the board meeting for the reviewing of this quarterly report.

Mr. Chen Zhaohui, legal representative of the Company, Mr. Hu Yubin, person-in-charge of the accounting works, and Mr. Wang Min, person-in-charge of the accounting body (accountant in charge) hereby declare that they warrant the truthfulness, accuracy and completeness of the financial statements contained in this quarterly report.

1

TEXT OF 2021 FIRST QUARTERLY REPORT OF XIAMEN PORT DEVELOPMENT CO., LTD

§2 GENERAL INFORMATION OF THE COMPANY

2.1 Key accounting data and financial indicators

Whether retroactive adjustments or restatements would be made by the Company to the accounting data for the previous years

□Yes

√No

Increase/decrease this reporting

This reporting period

The same period of last year

period over the same period of

last year

Operating income (RMB)

5,298,935,971.73

2,819,228,031.63

87.96%

Net profit attributable to the

shareholders

of

the

listed

42,463,028.98

8,685,802.93

388.88%

Company(RMB)

Net profit after deducting non-recurring

gains/losses

attributable

to

the

39,327,090.67

-6,814,721.62

677.09%

shareholders

of

the

listed

Company(RMB)

Net

cash

flow

from

operating

-338,524,941.58

-245,031,381.45

-38.16%

activities(RMB)

Basic earnings per share (RMB/share)

0.0679

0.0146

365.07%

Diluted earnings per share(RMB/share)

0.0679

0.0146

365.07%

Weighted average return rate on

net

1.23%

0.25%

0.98%

assets

Increase/decrease end of this

End of this reporting period

End of last year

reporting period over end of last

year

Total assets(RMB)

11,306,418,234.49

10,432,888,710.94

8.37%

Net assets attributable to the

shareholders

of

the

listed

Company

3,539,872,612.32

3,496,582,845.55

1.24%

(RMB)

Items and amount of extraordinary gains / losses

√ Applicable

□ Not applicable

Unit: RMB

Amount from the

Items

beginning of the year to the

Note

end of the reporting period

Gains/losses from disposal of non- current assets (including the written-off part of

-58,446.80

asset depreciation reserves provided)

Government grants included in gains/losses for the current period ( excluding

those government subsidies closely related to corporate business, fixed in

15,938,358.38

accordance with the national standard or enjoyed quantitatively)

Gains/losses on fair value change from held-for-trading financial assets, derivative

financial assets, trading financial liabilities and derivative financial liabilities, and

investment gain

from

disposal of

held-for-trading financial assets,

derivative

-11,942,730.94

financial assets, trading financial liabilities, derivative financial liabilities and

other debts investment, excluding effective hedging business relating to the

ordinary operation business of the Company

2

TEXT OF 2021 FIRST QUARTERLY REPORT OF XIAMEN PORT DEVELOPMENT CO., LTD

Reversal of depreciation reserves for receivables and contract assets tested for

600,000.00

depreciation individually

Other non-operating incomes and expenses (excluding items mentioned above)

3,765,809.61

Less: effect of income tax

2,075,747.56

Effect of minority interests (after tax)

3,091,304.38

Total

3,135,938.31

--

Explain the reasons if the Company classified any extraordinary gains / losses items defined in the " Explanatory Announcement No. 1 on Information Disclosure for Companies Offering Their Securities to the Public -- Extraordinary Gains / Losses" as recurring gains /losses items, as well as those listed in the said explanatory announcement as recurring gains/losses items

  • Applicable √ Not applicable

During the reporting period, there was no such situation concerning the Company classified any extraordinary gains

  • losses items defined or listed in the "Explanatory Announcement No. 1 on Information Disclosure for Companies Offering Their Securities to the Public -- Extraordinary Gains /Losses" as recurring gains /losses items.

2.2 Total number of shareholders and shareholdings of top ten shareholders at the end of the reporting period

2.2.1 Number of common shareholders and preferred shareholders with voting rights resumed and shareholding of the top ten shareholders

Unit: Number of shares

Total number of common

Total number of

preferred

46,573

shareholders with voting rights

0

shareholders at the end of the

resumed at the end of the

reporting period

reporting period (if any)

Shareholdings of the top ten shareholders

Proportion

Number of

Position pledged or frozen

Nature of

Number of shares

shares held

Name of shareholders

of

Status of

Number

shareholders

held

subject to

shareholding

shares

lock-up

Xiamen International Port Co., Ltd

State-owned

61.89%

386,907,522

94,191,522

0

（廈門國際港務股份有限公司）

legal person

Domestic

You Yan

natural

0.24%

1,517,800

0

person

Domestic

Liu Junfeng

natural

0.20%

1,220,055

0

person

Domestic

Chen Zifan

natural

0.19%

1,190,793

0

person

Domestic

Yu Cuiping

natural

0.19%

1,158,000

0

person

Domestic

Ning Shen

natural

0.17%

1,056,399

0

person

3

TEXT OF 2021 FIRST QUARTERLY REPORT OF XIAMEN PORT DEVELOPMENT CO., LTD

Domestic

Yi Daxu

natural

0.16%

985,700

0

person

Gu Wenming

Domestic

natural

0.14%

856,010

0

person

Yang Lingeng

Domestic

natural

0.13%

800,800

0

person

Vanguard Investment Australia Ltd.

Foreign

- Vanguard Emerging Markets Stock

legal person

Index Fund (Exchange) (領航投資

0.12%

739,716

0

澳洲有限公司－領航新興市場股

指基金（交易所）)

Shareholdings of top ten shareholders holding shares without lock-up

Name of shareholders

Number of shares held without lock-up

Class of shares

Class of shares

Number

Xiamen International Port Co., Ltd

Renminbi

292,716,000

denominated

292,716,000

(廈門國際港務股份有限公司)

ordinary

shares

You Yan

Renminbi

1,517,800

denominated

1,517,800

ordinary

shares

Liu Junfeng

Renminbi

1,220,055

denominated

1,220,055

ordinary

shares

Chen Zifan

Renminbi

1,190,793

denominated

1,190,793

ordinary

shares

Yu Cuiping

Renminbi

1,158,000

denominated

1,158,000

ordinary

shares

Ning Shen

Renminbi

1,056,399

denominated

1,056,399

ordinary

shares

Yi Daxu

Renminbi

985,700

denominated

985,700

ordinary

shares

Gu Wenming

Renminbi

856,010

denominated

856,010

ordinary

shares

Yang Lingeng

Renminbi

800,800

denominated

800,800

ordinary

shares

Vanguard Investment Australia Ltd. - Vanguard

Renminbi

Emerging Markets Stock Index Fund (Exchange)

739,716

denominated

739,716

(領航投資澳洲有限公司－領航新興市場股指

ordinary

基金（交易所）)

shares

4

TEXT OF 2021 FIRST QUARTERLY REPORT OF XIAMEN PORT DEVELOPMENT CO., LTD

1. Xiamen International Port Co., Ltd is the only one shareholder holding more

than 5% (including 5%) of the Company's shares, which is the controlling

shareholder of the Company, the connected nature is controlling parent company,

the nature of the shareholding is state-owned legal person shares;

Explanation

of the

connected

relationships or

2. The other top ten shareholders of the Company have no connected relation with

concerted

actions

for the

above-mentioned

the controlling shareholder of the listed company, and they are also not the

shareholders

concerted action person defined under "Measures for the Administration of the

Acquisition of Listed Companies", either;

3. It is unknown that whether the connected relationship or concerted action relationship exists or not among other shareholders holding tradable shares.

  1. You Yan holds 1,517,800 shares of the Company through Credit Transactions Guarantee Securities Accounts;
  2. Liu Junfeng holds 1,220,055 shares of the Company through Credit

Transactions Guarantee Securities Accounts;

Explanation of top ten common shareholders

3. Chen Zifan holds 1,190,793 shares of the Company through Credit

involved in securities margin trading business (if

Transactions Guarantee Securities Accounts;

any)

4. Gu Wenming holds 856,010 shares of the Company through Credit

Transactions Guarantee Securities Accounts;

5. Yang Lingeng holds 800,800 shares of the Company through Credit

Transactions Guarantee Securities Accounts.

Whether top ten common shareholders or top ten common shareholders without lock-up of the Company carried out any agreed buy-back transactions during the reporting period.

  • Yes √Not

No top ten common shareholders and top ten common shareholder without lock-up of the Company carried out any agreed buy-back transactions during the reporting period.

2.2.2 Total number of preferred shareholders of the Company and the shareholdings of the top ten preferred shareholders

□ Applicable √ Not applicable

5

TEXT OF 2021 FIRST QUARTERLY REPORT OF XIAMEN PORT DEVELOPMENT CO., LTD

§3 IMPORTANT ISSUES

3.1 Details for changes in major financial data and financial indicators and the reasons thereof during the reporting period

√Applicable □ Not applicable

  1. Monetary funds at the end of the reporting period increased by 65.33% compared to the beginning of the period, which was mainly due to the receipt of current accounts from the controlling shareholder Xiamen International Port Co., Ltd (廈門國際港務股份有限公司) (hereinafter referred to as "International Port") at the end of the reporting period.
  2. Financial assets held for trading at the end of the reporting period increased by 59.45% compared to the beginning of the period, which was mainly due to the impact of market price fluctuations on the futures during the reporting period.
  3. Inventories at the end of the reporting period increased by 30.62% compared to the beginning of the period, which was mainly due to the increasing inventories at the end of the period as a result of the growth of trading business during the reporting period.
  4. Advances at the end of the reporting period decreased by 86.44% compared to the beginning of the period, which was mainly due to the decrease in advance rental receipts during the reporting period.
  5. Salaries payable to employees at the end of the reporting period decreased by 41.84% compared to the beginning of the period, which was mainly due to the payment for year-end bonus of last year during the reporting period.
  6. Other payables at the end of the reporting period increased by 51.32% compared to the beginning of the period, which was mainly due to the increase in current accounts with the controlling shareholder International Port during the reporting period.
  7. Operating revenue during the reporting period increased by 87.96% compared to the same period of last year, which was mainly due to the growth of the trading business combined with port and trade during the reporting period.
  8. Operating cost during the reporting period increased by 88.01% compared to the same period of last year, which was mainly due to the corresponding increasing cost of goods sold as a result of the growth of trading business during the reporting period.
  9. Selling expenses during the reporting period increased by 40.49% compared to the same period of last year was mainly due to the corresponding increasing expenses as a result of the growth of trading business during the reporting period.
  10. Other income during the reporting period decreased by 47.36% compared to the same period of last year, which was mainly due to the decrease in government grants received during the reporting period.
  11. Investment income during the reporting period decreased by 205.13% compared to the same period of last year, which was mainly due to the impact of market price fluctuations on the futures during the reporting period.
  12. Gain on changes in fair value during the reporting period decreased by 99.01% compared to the same period of last year, which was mainly due to the impact of market price fluctuations on the futures and the forward settlement and sale of foreign exchange during the reporting period.

6

TEXT OF 2021 FIRST QUARTERLY REPORT OF XIAMEN PORT DEVELOPMENT CO., LTD

  1. Credit impairment loss during the reporting period decreased by 93.64% compared to the same period of last year, which was mainly due to the decrease in the provision for bad debts based on the aging of accounts receivable for the trading business during the reporting period.
  2. Asset impairment loss during the reporting period increased by 50.66% compared to the same period of last year, which was mainly due to the increase in provision for inventory impairment as a result of the decline in prices of some business varieties of the trading business during the reporting period.
  3. Non-operatingincome during the reporting period increased by 738.93% compared to the same period of last year, which was mainly due to the compensation from arbitration case received by our subsidiary Xiamen Port Logistics Co., Ltd. during the reporting period.
  4. Non-operatingexpenses during the reporting period decreased by 79.17% compared to the same period of last year, which was mainly due to the epidemic donation expenses during the same period of last year.
  5. Net cash flow from operating activities during the reporting period decreased by 38.16% compared to the same period of last year, which was mainly due to the increase in cash outflow for the purchase of goods and acceptance of labor services during the reporting period.
  6. Net cash flow from investing activities during the reporting period decreased by 53.32% compared to the same period of last year, which was mainly due to the increase in cash paid for investment during the reporting period.
  7. Net cash flow from financing activities during the reporting period increased by 422.16% compared to the same period of last year, which was mainly due to the decrease in cash paid for debt repayment during the reporting period.
  8. Net increase in cash and cash equivalents during the reporting period increased by 136.54% compared to the same period of last year, which was mainly due to the increase in net cash flow from financing activities during the reporting period.
    3.2 The progress of significant events and analysis of their effects and solutions
  • Applicable □ Not applicable

In 2020, due to the integration of port resources in Fujian Province, Xiamen Port Holding Group Co., Ltd. (廈 門港務控股集團有限公司) (hereinafter referred to as"Port Holding Group"), the indirect controlling shareholder of the Company, was institutionalized and integrated into Fujian Province Port Group Limited Liability Company (福建省港口集團有限責任公司) (hereinafter referred to as"Fujian Port Group") organized and established by the State-owned Assets Supervision and Administration Commission of the People's Government of Fujian Province (福建省人民政府國有資產監督管理委員會) (hereinafter referred to as "Fujian SASAC"), as a wholly-owned subsidiary of Fujian Port Group. Fujian Port Group submitted to the State Administration for Market Regulation documents related to the anti-monopoly review on the concentrations of undertakings, and received the Case Filing Notice of the Anti-MonopolyReview on the Concentrations of Undertakings (《經營者集中反壟斷審查立案通知 書》) on 28 December 2020.

During this reporting period, on 9 February 2021, Fujian Port Group received the Decision Regarding No Prohibition for the Anti-MonopolyReview on the Concentrations of Undertakings (《經營者集中反壟斷審查不予 禁止決定書》) issued by the State Administration for Market Regulation. On 25 February 2021, Port Holding Group completed the registration procedures for the industrial and commercial changes involved in this free equity transfer. After the completion of the industrial and commercial changes of this free transfer of the indirect controlling shareholder's equity, Fujian Port Group directly holds 100% of the equity in Port Holding Group, and Port Holding

7

TEXT OF 2021 FIRST QUARTERLY REPORT OF XIAMEN PORT DEVELOPMENT CO., LTD

Group indirectly holds 386,907,522 shares, representing 61.89% of the total equity in the Company through International Port. The controlling shareholder of the Company is still International Port, and the actual controller of the Company is changed from the State-owned Assets Supervision and Administration Commission of Xiamen Municipal People's Government (厦门市人民政府國有資產監督管理委員會) to Fujian SASAC.

Overview of significant events

Date of disclosure

Search index of provisional report

disclosure website

Announcement of

Xiamen

Port on

the Progress

of

Securities Times B22,

Equity Transfer of the Company's Indirect Controlling

China Securities Journal B033,

Shareholder and the Change of Actual Controller of the

26 January 2021

the website of CNINFO ( 巨 潮 資 訊 網 ).

Company（《廈門港務關於公司間接控股股東股權劃

（Announcement No.: 2021-04）

轉暨公司實際控制人發生變更的進展公告》）

1. Summary of Acquisition Report of Xiamen Port (《廈

門港務收購報告書摘要》)

Securities Times B20,

2. Announcement of Xiamen Port on Fujian Port

China Securities Journal B034,

Group's receipt

of the

Decision

Regarding

No

10 February 2021

Prohibition for the Anti-Monopoly Review on the

the website of CNINFO ( 巨 潮 資 訊 網 ).

Concentrations of Undertakings (《經營者集中反壟斷

(Announcement No.: 2021-10).

審 查 不 予 禁 止 決 定 書 》 ) issued by the State

Administration for Market Regulation

1. Acquisition Report of Xiamen Port (《廈門港務收購

報告書》)

2. Legal Opinions of King & Wood Mallesons (Beijing)

on the Acquisition Report of Xiamen Port Development

Co., Ltd.

3. Legal Opinions of King & Wood Mallesons (Beijing)

23 February 2021

the website of CNINFO (巨潮資訊網)

on the Exemption of Fujian Province Port Group

Limited Liability Company from Making an Offer

4. Financial Advisory Report by China International

Capital Corporation Limited on the Acquisition Report

of Xiamen Port Development Co., Ltd.

Announcement of Xiamen Port in relation to the

Securities Times B36,

China Securities Journal B007,

completion of the industrial and commercial changes

27 February 2021

registration of the indirect controlling and the change of

the website of CNINFO ( 巨 潮 資 訊 網 ).

the actual controller.

（Announcement No.: 2021-11）

Implementation progress of share repurchase □Applicable √ Not applicable

Implementation progress of the reduction of shares repurchased by means of centralized bidding □Applicable √ Not applicable

3.3 Overdue commitments that have not been fully fulfilled by the commitments-related parties including actual controllers of the Company, shareholders, related parties, the acquirers and the Company during the reporting period

□Applicable √ Not applicable

There were no overdue commitments that had not been fully fulfilled by the commitments-related parties including actual controllers of the Company, shareholders, related parties, the acquirers and the Company during the reporting period.

8

TEXT OF 2021 FIRST QUARTERLY REPORT OF XIAMEN PORT DEVELOPMENT CO., LTD

3.4 Financial asset investment

3.4.1 Securities investment

□Applicable √ Not applicable

The Company was not involved in any securities investment during the reporting period.

3.4.2 Derivatives investments

√Applicable □ Not applicable

9

TEXT OF 2021 FIRST QUARTERLY REPORT OF XIAMEN PORT DEVELOPMENT CO., LTD

Unit: RMB (in ten thousands)

Percentage

of

investment

Investment

Purchase

Sales

Investment

amount at

Actual

The name of

the end of

Connected

Connected

Category of

Original

Closing

amount at

amount

amount

Amount of

amount at

amount of

operators of

the period to

transaction

Derivatives

amount of

Beginning

the

during the

during the

impairment

the end of

profit or loss

derivatives

relationship

date

the

(Yes/No)

investment

derivatives

date

beginning of

reporting

reporting

provision

the

during the

investment

Company's

investment

the period

period

period

(if any)

period

reporting

net assets at

period

the end of

the reporting

period

Industrial Futures

Non-connect

Polyethylene

14

31

No

161.8

December

May

161.8

247.35

79.25

0

0

0.00%

-6.2

Co., Ltd.

ed party

(L2105)

2020

2021

Industrial

Futures

Non-connect

Paper pulp

8

31

No

0

January

May

0

5,266.58

6,653.98

0

2,174.31

0.47%

-787.5

Co., Ltd.

ed party

(SP2105)

2021

2021

Industrial

Futures

Non-connect

White sugar

8

31

No

0

February

May

0

1,042.49

1,481.18

0

430.64

0.09%

7.93

Co., Ltd.

ed party

(SR105)

2021

2021

Funeng

Futures

Non-connect

White sugar

23

31

No

528.53

November

May

528.53

322.25

4,291

0

3,415.54

0.73%

24.44

Co., Ltd.

ed party

(SR105)

2020

2021

Guomao

Futures

Non-connect

Polypropylene

31

31

No

68.12

December

May

68.12

66.98

0

0

0

0.00%

1.14

Company Limited

ed party

(PP2105)

2020

2021

Guomao

Futures

Non-connect

Polyethylene

31

31

No

1,163.27

December

May

1,163.27

1,419.9

171.2

0

85.6

0.02%

-171.07

Company Limited

ed party

(L2105)

2020

2021

Non-connect

Forward sales

10

2

Bank of East Asia

No

of foreign

0

February

March

0

2,776.96

2,782.98

0

0

0.00%

6.02

ed party

exchange

2021

2021

Industrial

and

Non-connect

Forward sales

26

1

No

of foreign

0

March

June

0

4,477.32

0

0

4,477.32

0.96%

0

Commercial Bank

ed party

exchange

2021

2021

10

TEXT OF 2021 FIRST QUARTERLY REPORT OF XIAMEN PORT DEVELOPMENT CO., LTD

Industrial

and

Non-connect

Forward sales

7

19

No

of foreign

0

January

January

0

3,319.14

3,319.14

0

0

0.00%

0

Commercial Bank

ed party

exchange

2021

2021

Industrial

and

Non-connect

Forward sales

8

19

No

of foreign

0

January

January

0

2,592.4

2,592.4

0

0

0.00%

0

Commercial Bank

ed party

exchange

2021

2021

Industrial

and

Non-connect

Forward sales

25

16

No

of foreign

0

March

April

0

6,161.7

0

0

6,161.7

1.33%

0

Commercial Bank

ed party

exchange

2021

2021

Total

1,921.72

--

--

1,921.72

27,693.07

21,371.13

0

16,745.11

3.60%

-925.24

Capital resource of derivatives investment

Self-owned capital

Litigation involved(if applicable)

N/A

The disclosure date of the Board's announcement in relation to

8 December 2020

the approval of derivatives investment (if any)

The disclosure date of the announcement of the general

meeting in relation to the approval of derivatives investment

24 December 2020

(if any)

The risk analysis of positions in derivatives during the reporting period: 1. The Company carries out only spot hedging operations

and forward settlement and sale of foreign exchange other than speculative and arbitraging ones, for the purpose of avoiding

operating risks. Spot hedging is exposed to mainly risks relating to market system, consisting of margin system, price limit system

and debt-free day system. Mandatory liquidation will be carried out, if margin calls are not met in a timely manner, while the price

changes adversely; in respect of the price volatility risk, the future market prices are highly sensitive to various factors, and hence

subject to continuous fluctuations; in respect of the internal control risk, risks may arise from defective internal control, as the

process of futures trading is highly professional and complicated. 2. Forward foreign exchange settlement and sales business

carried out by the Company is a financial derivative investment business with the purpose of hedging. It is not engaged in

Description of risk analysis and control

measures of

speculative and arbitrage trading operations. Its risks mainly include market risk: carry out forward foreign exchange settlement

derivatives position during the reporting period (including but

and sales business related to the main business of import, and when the RMB depreciates against foreign currencies, it will cause

not limited to market risk, liquidity risk, credit risk, operation

the opportunity loss to the Company, which will increase the goods import cost of the Company invisibly; liquidity risk: as the

risk, legal risk etc.)

derivative business carried out is an over-the-counter transaction operated via financial institutions, there is a risk of closing

position or cutting position loss which requires payment of expenses to banks; operation risk: when the Company conducts foreign

exchange settlement and sales business, if the operator fails to report the same for approval according to the prescribed procedures,

or if he does not record business information accurately, timely and completely, it may result in loss of transaction or loss of trading

opportunity; legal risk: the Company signs a forward agreement on forward foreign exchange settlement and sales business with

banks, which requires that the Company must strictly handle the business and occupy a credit quota (or pay a deposit) under the

agreement. Meanwhile, the Company should pay attention to its own financial position and avoid losses caused by the agreed

default to the Company.

11

derivativeAs the Company used futures instruments only to fixed prices, the risks can be properly controlled as long as the procedure of futures management system of the Company is followed.
12
TEXT OF 2021 FIRST QUARTERLY REPORT OF XIAMEN PORT DEVELOPMENT CO., LTD
Control measures: 1.To carefully select futures brokerage companies, set up a reasonable institutional framework of future business, and make proper staffing and deployment; to strictly control the scale of funds underlying hedging, and make good plans on, and use of margin; to strictly abide by the operation rules of hedging, adhere to the hedging purposes, never make speculative trading, and hedge the price volatility risk to the greatest extent; to formulate a special internal control system, making specific provisions on the hedging quota, type, authority of examination and approval, internal approval process, reporting system of internal risks, procedure of risks handling, and information disclosure; and to work out a processing program for erroneous trading, etc. 2. Select a forward foreign exchange settlement and sales business with simple structure, strong liquidity and controllable risks to carry out hedging business, and strictly control the transaction scale of foreign exchange settlement; strictly control the transaction scale of forward foreign exchange settlement and sales. The Company can only carry out the trading with hedging as the goal within the quota authorized by the board of directors; formulate the standardized business operation procedures and authorization management system, arrange full-timepersonnel, clarify job responsibilities, and strictly engage in forward foreign exchange settlement and sales transactions within the scope of authorization; improve business training, professional ethics and quality of relevant personnel, and establish a timely reporting system for abnormal situations, so as to maximize the avoidance of operation risks; strengthen management on bank accounts and funds, adhere to strict approval procedures for allocation and use of funds; supervise and inspect the standards of hedging, the effectiveness of the internal control mechanism, and the authenticity of information disclosure of forward foreign exchange settlement and sales business.
The Company's derivatives investment business represents futures hedging business and forward foreign exchange settlement and sales:
In the futures market, the positions of white sugar, polyethylene and paper pulp held as of 31 March 2021 were as follows:
1. The position for white sugar (SR105) was 716 lots (7,160 tons), with the average sales price for opening a position of RMB
Changes in market price or fair value of derivatives invested5,371.76 per ton and the settlement price of RMB 5,252.00 per ton, and floating gain of RMB 857,480.00;
during the reporting period, where specific methods and2. The position for polyethylene (L2105) was 20 lots (100 tons), with the average sales price for opening a position of RMB relevant assumptions and parameters used, shall be disclosed8,560.00 per ton and the settlement price of RMB 8,520.00 per ton, and floating gain of RMB 4,000.00;
in the analysis of derivatives' fair value3.The position for paper pulp (SP2105) was 335 lots (3,350 tons), with the average sales price for opening a position of RMB6,490.49 per ton and the settlement price of RMB6,758.00 per ton, and floating gain of RMB896,160.00;
For forward foreign exchange settlement and sales business as at 31 March 2021, the forward foreign exchange sales were USD16.20 million. According to the Industrial and Commercial Bank's forward foreign exchange settlement and sales market value gain or loss revaluation list, the provision for floating loss was RMB235,480.00.
Description of any significant changes in the Company's
accounting policies and specific auditing principles ofNo significant change. derivatives during the reporting period from the previous
reporting period

Special opinion of independent directors oninvestment and risk control by the Company

TEXT OF 2020 THIRD QUARTERLY REPORT OF XIAMEN PORT DEVELOPMENT CO., LTD

3.5 Progress of investment projects with raised funds

  • Applicable √ Not applicable

3.6 Forecast of operating results for the period from January to June of 2021

Forecast of accumulative net profit from the beginning of the year to the end of next report period to be loss probably or warning of its significant change compared with the corresponding period of last year and explanation of the reasons

  • Applicable □ Not applicable

Situation of results forecast: increase in the same direction

Data type filled in the results forecast: interval number

From the beginning of the year

The same period

Change in increase / decrease

to the end of the next reporting

of last year

period

Net profit attributable to

shareholders of listed companies

8,671.01

--

11,079.63

4,817.23

Increase

80.00%

--

130.00%

(RMB ten thousands)

Basic earnings per share

0.1387

--

0.1772

0.0790

Increase

75.56%

--

124.33%

(RMB/share)

During the reporting period, the Company's net profit attributable to shareholders of listed

companies increased significantly compared with the same period of last year, which was mainly due

to the effective control on the domestic epidemic, the significant increase of the Company's bulk

Explanation of results forecast

cargo throughput compared with the same period of last year, the further improvement of the quality

and efficiency of port value-added services, such as tugboats, agencies, etc. and neighboring port

logistics businesses, as well as the profit growth resulted from the faster revenue growth of the trading

business combined with port and trade.

3.7 Major contracts for daily operations

  • Applicable √ Not applicable

3.8 Entrusted financial management

  • Applicable √ Not applicable

The Company was not involved in any entrusted financial management during the reporting period.

3.9 Illegal external guarantees

  • Applicable √ Not applicable

The Company had no illegal external guarantees during the reporting period.

13

TEXT OF 2020 THIRD QUARTERLY REPORT OF XIAMEN PORT DEVELOPMENT CO., LTD

3.10 The listed company's non-operating capital occupied by controlling shareholders and their related parties

  • Applicable √ Not applicable

No non-operating capital of the listed company was occupied by controlling shareholders and their related parties in the Company during the reporting period.

3.11 Registration form for the activities of receiving investigation and research, communication and interview during the reporting period

√Applicable □ Not applicable

Main topic of

Index to basic

Time

Venue

Mode

Type of target

Target

discussion and

situation of

information

investigation and

provided

research

Investor from of "Easy

Interaction" of

About the

About the

Office of the

Shenzhen Stock

20 January 2021

Written inquiries

Individual

Company's

Company's

Exchange

Company

operation

operation

(深交所"互動易")

14

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Xiamen International Port Co. Ltd. published this content on 28 April 2021 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 28 April 2021 09:22:02 UTC.