3 June, China Merchants Holdings (International) Company Limited (CMHI) held an annual general meeting of the shareholders in Hong Kong, the meeting is hosted by Mr. Li Xiaopeng, Chairman of the Board. Vice Chairman Mr. Hu Jianhua, Executive Director Mr. Wang Hong, Mr. Deng Renjie, Managing Director Mr. Bai Jingtao, Deputy General Manager and Executive Director Mr. Zheng Shaoping etc. also attended the meeting.
The meeting duly passed six acts, all with majority passes. Especially the name change of the company from "China Merchants Holdings (International) Company Limited" to "China Merchants Port Holdings Company Limited", has gained a general recognition.
A press conference was held on the same day after the general annual meeting of CMHI, and has attracted many major Hong Kong press participants. During the conference, the management team has answered many questions such as the company's performances at home and abroad from January to May, future performance and other press concern related issues in details.
Li Xiaoping said, the income of CHMIí»s port and related businesses exceed 90%of the companyí»s total income. In order to outstand port business, let the investors, business partners and clients to understand the core business of the company directly. Through the approval of the AMG, CMHI officially change her name to "China Merchants Port Holdings Company Limited". In the next step, the company will start changing all relevant documents relating to the company name, including name change in SEHK, company registry, bank account, company utilities and account name. Related jobs are expected to be done in the middle of July.
Li Xiaopeng revealed, " From January to May 2016, despite the slow recovery of the global economy, China's import and export trade appears a substantial decline, CMHI's international port has maintained overall steady growth, which is better than the industry's average performance. From January to May, the container throughput of CHMI has performed a growth of about 8.7%, in which China mainland projects have grown 11.1%, overseas projects have grown 3.8%. The company has been focusing on the development of overseas projects of CICT and Djibouti port, which has grown 31% and 15%, respectively, in order to maintain a strong growth momentum for the company by injecting new motivations. Under the circumstances of the downturn macroeconomic and shipping market, CMHI will always follow its operation principles, grasp the opportunity to implement the national strategy and policy such as 'One Belt One Road" and supply side reforms etc., to perform the advantages of international first-mover and resources integration, continue to promote reforms, innovations, strengthen cooperation and steadily push forward the development of the internationalization of the production and network integration work, in order to bring good returns to shareholders with good performances.
Li Xiaopeng has also emphasis CHMI's overseas personnel training program. He said: "CHMI pays attention to talent training at home and abroad. Talent cultivation is the foundation of the company's international development. Recently, the company has launched a number of work focuses, including 1.participate in "Hong Kong Shanghai Silk Road Association "sending university students of Hong Kong to Djibouti port for practice exchange. 2. setting "Excellent Personnel Plan", through "Going out, Letting in" to train overseas port logistics personnel. Covering area includes Asia, Africa and other regions. 3. through China Merchants Charitable Foundation, the company donate US$200,000 to Lome University in Togo and set up scholarships etc. CHMI would like to perform social responsibilities as a corporate citizen in China and the World in accordance with the company development.
Hu Jianhua further elaborate CHMI's oversea port business layout and development. He said: "Over the past 10 years, CHMI's overseas business has made considerable progress. The company has always maintained a sound policy of overseas development, and seriously study its economic feasibility. In the future, the company will continue to persist in "One Belt One Road" as the core of our internationalization strategy. Consolidate Asia, Consummate Africa, Breakthrough Europe, Develop America, seeking new breakthroughs in internationalization layout. In Asia, the company intend to further participate in the Sri Lankan port development, mostly focusing on the construction of the Colombo East port district, hoping to cooperate with the existing Colombo south port in order to improve the service chain. In Europe, the company mainly relies on its joint venture with Terminal Link with CMA CGM group as a platform, to seek for suitable acquisition opportunities. In Central and South America, CMHI will focus on the economy downturn and currency devaluation which might trigger the decline in port asset price that bring investment opportunities.
Bai Jingtao refers to the shipping market trend and development plan of the company and said: "As a response to the shipping market in the doldrums, the mergers, acquisitions and alliances of ship companies exacerbate, the new Ocean Alliance will comes to formal operation in April 2017, this will bring new changes to the port industry. As the world's leading port operator, CHMI has established intimate cooperative relationships with the world's major shipping companies. The Company will improve market competitiveness through improving its global network, intelligence port development, to strengthen dock cooperation, enhance port efficiency and management level, to provide better, more efficient port services to shipping companies and big alliances. The expectation for the second half year is better than the first, the management team of CHMI will actively continue enhance operation and management, in order to bring a satisfactory performance results to shareholders.