China Merchants Pacific : 1H2015 Additional Information on Toll Road Operation

(Company Registration No. 198101278D)

Additional Information on Toll Road Operations Traffic Volume Figures

Traffic Volume per Road ('000 vehicles)	2015	2014	Change %
Traffic Volume per Road ('000 vehicles)	1Q	2Q	1H	1Q	2Q	1H	Change %
Yongtaiwen Expressway	2,792	2,819	5,611	2,619	2,656	5,275	6.4
Beilun Port Expressway	2,337	2,437	4,774	2,302	2,553	4,855	1.7
Jiurui Expressway	431	307	738	397	322	719	2.6
Guiliu Expressway	1,282	926	2,208	1,158	992	2,150	2.7
Guihuang Highway	1,934	1,958	3,892	1,725	2,021	3,746	3.9
Total	8,776	8,447	17,223	8,201	8,544	16,745	2.9

Revenue by Toll Roads

Toll Revenue (RMB '000)	2015	2014	Change %
Toll Revenue (RMB '000)	1Q	2Q	1H	1Q	2Q	1H	Change %
Yongtaiwen Expressway	295,176	328,371	623,547	282,474	311,094	593,568	 5.1
Beilun Port Expressway	70,118	75,745	145,863	70,883	79,793	150,676	 3.2
Jiurui Expressway	18,669	16,596	35,265	19,345	18,920	38,265	7.8
Guiliu Expressway	160,563	148,310	308,873	155,930	151,285	307,215	 0.5
Guihuang Highway	48,560	53,950	102,510	51,420	58,228	109,648	6.5
Total	593,086	622,972	1,216,058	580,052	619,320	1,199,372	 1.4

Notes 备注:
1) With effect from 1 January 2015, the traffic volume for Guiliu Expressway has been changed from "Full trip Equivalent Passenger Car Unit (PCU)" to "Full Trip Equivalent Traffic Volume".Traffic Volume for 2014 has been adjusted accordingly for comparison purpose.

从 2015 年 1 月 1 日起，桂柳项目由原"折算全程标准车流量"变更为"折算全程混合车流量"。有关 2014 年车流量也作出相应调 整以供比较用途。

2) With effect from 1 January 2015, the traffic volume for Guihuang Highway has been changed from "Per Entry Traffic Volume" to
"Full Trip Equivalent Traffic Volume".Traffic Volume for 2014 has been adjusted accordingly for comparison purpose.

从 2015 年 1 月 1 日起，贵黄项目由原"折分自然车流量"变更为"折算全程混合车流量"。有关 2014 年车流量也作出相应调整以 供比较用途。

Additional Information on Toll Road Operations Contribution to Group's Net Profit Attributable to Shareholders by Toll Roads a) Second Quarter

(HK$'000)	FY2015	FY2014	Change %
(HK$'000)	2nd Quarter	2nd Quarter	Change %
(HK$'000)	Share of Results	Subsidy Income	Total	Share of Results	Subsidy Income	Total	Change %
Jointly Controlled Entities ("JCE")
Guiliu Expressway	39,531	39,531	39,547	-	39,547	0.0%
Guihuang Highway	24,087	5,556	29,643	31,335	5,860	37,195	-20.3%
Net Profit from JCE	63,618	5,556	69,174	70,882	5,860	76,742	-9.9%
Subsidiaries
Yongtaiwen Expressway	99,050	85,877	15.3%
Beilun Port Expressway	30,428	19,797	53.7%
Jiurui Expressway (1)	5,658	-	n.m.
Net Profit from Subsidiaries	135,136	105,674	27.9%
Others
Other revenue & expenses (2)	(9,772)	828	n.m.
Total	194,538	183,244	6.2%

b) Six months ended 30 June

(HK$'000)	FY2015	FY2014	Change %
(HK$'000)	First Half	First Half	Change %
(HK$'000)	Share of Results	Subsidy Income	Total	Share of Results	Subsidy Income	Total	Change %
Jointly Controlled Entities ("JCE")
Guiliu Expressway	83,272	-	83,272	82,682	-	82,682	0.7%
Guihuang Highway	43,865	11,263	55,128	65,017	11,821	76,838	-28.3%
Net Profit from JCE	127,137	11,263	138,400	147,699	11,821	159,520	-13.2%
Subsidiaries
Yongtaiwen Expressway	184,859	163,638	13.0%
Beilun Port Expressway	49,897	41,047	21.6%
Jiurui Expressway (1)	13,058	-	n.m.
Net Profit from Subsidiaries	247,814	204,685	21.1%
Others
Other revenue & expenses (2)	(44,092)	(21,380)	106.2%
Total	342,122	342,825	-0.2%

Notes:

1)

2)

The financial results of Jiurui Expressway was consolidated with effect from 9 September 2014.

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