SHENZHEN PROPERTIES & RESOURCES DEVELOPMENT (GROUP)
LTD.
THE THIRD QUARTERLY REPORT 2012
I. Important Notes
The Board of Directors, the Supervisory Committee as well as directors, supervisors and senior executives of
Shenzhen Properties & Resources Development (Group) Ltd. (hereinafter referred to as the Company) guarantee
that this report carries no false information, misleading statements or major omissions, and accept, individually
and collectively, the responsibility for the factuality, accuracy and completeness of the information set forth
herein.
All directors attended the board session for reviewing this report.
Chen Yugang (principal of the Company), Wang Hangjun (the person in charge of the accounting work) and Shen
Xueying (the person in charge of the accounting organ/the principal of accounting) hereby confirm that the
financial statements enclosed in the quarterly report are factual and complete.
II. Company Profile
(I）Major accounting data and financial indexes
Any retrospective adjustment in previous financial statements?
√ Yes □No □ Inapplicable
31 Dec. 2011 Increase/decrease (%)
30 Sept. 2012
Before adjustment After adjustment After adjustment
Total assets (RMB Yuan) 4,081,206,075.30 3,499,608,314.21 3,526,566,922.95 15.73%
Owners’ equity attributable to
shareholders of the Company 1,302,003,177.35 1,130,243,873.92 1,141,461,317.97 14.06%
(RMB Yuan)
Share capital (Share) 595,979,092.00 595,979,092 595,979,092.00 0%
Net assets per share
attributable to shareholders of
2.1846 1.8964 1.9153 14.06%
the Company (RMB
Yuan/share)
YoY increase/decrease YoY increase/decrease
Jul.-Sept. 2012 Jan.-Sept. 2012
(%) (%)
Gross operating revenues
418,381,326.42 179.51% 1,041,304,227.34 -20.24%
(RMB Yuan)
Net profit attributable to
shareholders of the Company 76,322,473.56 863.87% 174,644,758.87 -43.55%
(RMB Yuan)
Net cash flow from operating
-- -- 587,922,305.81 -239.93%
activities (RMB Yuan)
Net cash flow per share from
operating activities (RMB -- -- 0.9865 -239.93%
Yuan/share)
Basic EPS (RMB Yuan/share) 0.1281 863.87% 0.293 -43.55%
Diluted EPS (RMB
0.1281 863.87% 0.293 -43.55%
Yuan/share)
1
Weighted average ROE (%) 6.25% 5.48% 14.29% -15.54%
Weighted average ROE after
deducting non-recurring gains 6.19% 5.41% 13.63% -15.99%
and losses (%)
Items of non-recurring gains and losses
√Applicable □Inapplicable
Amount during
Item Jan.-Sept. 2012 (RMB Notes
Yuan)
“Gains and losses on disposal of non-current
assets” referred to gains and losses on
Gains and losses on disposal of non-current assets 9,524,761.46
disposal of fixed assets and investing
properties.
Tax rebate, reduction or exemption due to un-authorized
approval or the lack of formal approval documents
Government grants recognized in the current year, except
for those acquired in the ordinary course of business or
granted at certain quotas or amounts according to the
country’s unified standards
Capital occupation fees received from non-financial
enterprises that are included in current gains and losses
Gains generated when the investment costs of the
Company’s acquiring subsidiaries, associates and joint
ventures are less than the fair value of identifiable net assets
in the investees attributable to the Company in the
acquisition of the investments
“Exchange gains and losses of non-monetary
assets” referred to the transfer taxes and fares
arising from the asset exchanges carried out
Exchange gains and losses of non-monetary assets -2,348,164.39
between the Company and its controlling
shareholder due to the share reform
commitment.
Gains and losses through entrusting others to invest or
manage assets
Various asset impairment provisions due to acts of God such
as natural disasters
Gains and losses on debt restructuring
Enterprise reorganization expenses, such as expenses on
employee settlement and integration
Gains and losses on the parts exceeding the fair value when
prices of transactions become unfair
“Net current gains and losses from the
period-begin to the combination date of
subsidiaries due to business combinations
under the same control” mainly referred to
Net current gains and losses from the period-begin to the net gains and losses (including reversed
combination date of subsidiaries due to business 1,912,516.93 interest on internal entrustment loans) for
combinations under the same control Jan.-May 2012 of the 100% equity interests
of Shenzhen Shenxin Taxi Co., Ltd. obtained
by the Company under the same control. For
details, see Note (IV) to the Financial
Statements.
Gains and losses on contingent matters which are irrelevant
to the normal operation of the Company
Gains and losses on fair value changes of transactional
financial assets and liabilities, and investment gains on
disposal of transactional financial assets and liabilities and
available-for-sale financial assets, except for the effective
hedging business related to the Company’s normal operation
2
“Reversal of impairment provisions for
accounts receivable which are separately
Reversal of impairment provisions for accounts receivable tested for impairment signs” mainly referred
400,330.00
which are separately tested for impairment signs to the reversal of impairment provisions for
the reporting period. For details, see Note (V)
4 to the Financial Statements.
Gains and losses on entrustment loans from external parties
Gains and losses on fair value changes of investing
properties for which the fair value method is adopted for
subsequent measurement
Current gain and loss effect due to a just-for-once
adjustment to current gains and losses according to
requirements of taxation and accounting laws and
regulations
Custodian fee income from entrusted operations with the
Company
Other non-operating incomes and expenses besides the
1,228,470.51
items above
Other gain and loss items that meet the definition of
non-recurring gains and losses
Minority interests effects
Income tax effects -2,623,213.178
Total 8,094,701.33 --
“Other gain and loss items that meet the definition of non-recurring gains and losses” & non-recurring gain and
loss items recognized as recurring gain and loss items according to the natures and characteristics of the
Company’s normal business
Involved amount (RMB
Item Notes
Yuan)
(II) Total number of shareholders and top 10 shareholders at the period-end
Total number of shareholders 46,457
Particulars about shares held by the top ten shareholders holding tradable shares
Number of tradable shares held Type and number of shares
Name of shareholder
at period-end Type Number
SHENZHEN
INTERNATIONAL TRADE
2,514,781 RMB ordinary shares 2,514,781
CENTER PROPERTY
MANAGEMENT COMPANY
BANK OF CHINA － LORD
ABBETT SELECT 30 EQUITY 1,612,826 RMB ordinary shares 1,612,826
FUND
CLIENT CREDIT TRADING
GUARANTEE SECURITIES
1,204,500 RMB ordinary shares 1,204,500
ACCOUNT OF GUOSEN
SECURITIES CO., LTD.
Domestically listed foreign
CHEN LIYING 1,007,151 1,007,151
shares
CLIENT CREDIT TRADING
GUARANTEE SECURITIES
ACCOUNT OF CHINA 808,573 RMB ordinary shares 808,573
MERCHANTS SECURITIES
CO., LTD.
3
Domestically listed foreign
ZHOU YONGHONG 743,633 743,633
shares
Domestically listed foreign
LIU LIAOYUAN 641,900 641,900
shares
GUOTAI
Domestically listed foreign
JUNANSECURITIES(HONGK 519,904 519,904
shares
ONG)LIMITED
LI HONGMAO 513,720 RMB ordinary shares 513,720
ZOU XINMIN 495,000 RMB ordinary shares 495,000
Particulars about shareholders
III. Significant Events
(I) Significant changes in major accounting data, financial highlights and reasons for these
changes
√Applicable □Inapplicable
1. Monetary funds stood at RMB 894,505,651.12 at the period-end, up 90.60% over the year-begin,
which was mainly because project sale generated some capital inflows.
2. Notes receivable stood at RMB 300,000.00 at the period-end, up 50.00% over the year-begin,
which was mainly because notes receivable as property management fee incomes of subsidiaries
increased.
3. Prepayments stood at RMB 715,666,958.85 at the period-end, up 50.87% over the year-begin,
which was mainly because the prepayments for land in Yangzhou and relevant taxes increased.
4. Other receivables stood at RMB 9,673,680.33 at the period-end, up 186.88% over the year-begin,
which was mainly because the pending water and electricity charges paid by subsidiaries on behalf
of others increased.
5. Accounts received in advance stood at RMB 979,075,004.46 at the period-end, up 369.23% over
the year-begin, which was mainly because the presale income from the real estate projects on sale
increased.
6. Other payables stood at RMB 179,021,319.84 at the period-end, down 62.79% over the
year-begin, which was mainly because the Company bough in land in the asset exchange as
promised in the share reform, which was temporarily recognized and paid for instantly.
7. Non-current liabilities due within one year stood at RMB 13,559,888.32 at the period-end, down
93.79% over the year-begin, which was mainly because some of these liabilities grew mature and
repaid.
8. Long-term borrowings stood at RMB 22,483,333.31 at the period-end, up 206.59% over the
year-begin, which was mainly because subsidiaries secured more borrowings.
9. Undistributed profit stood at RMB 577,828,134.42 at the period-end, up 43.32% over the
year-begin, which was mainly because net profit for the period from the year-begin to the
period-end increased.
10. Business taxes and surtaxes for Jan.-Sept. 2012 stood at RMB 180,373,360.25, down 48.46%
over the same period of last year, which was mainly because the real estate income for Jan.-Sept.
2012 decreased and the business tax and land VAT decreased accordingly.
11. Financial expenses for Jan.-Sept. 2012 stood at RMB -3,011,331.35, down 133.08% over the
same period of last year, which was mainly because of the increase of interest capitalization.
12. Asset impairment loss for Jan.-Sept. 2012 stood at RMB -5,957,940.96, down 1,100.94% over
the same period of last year, which was mainly because the bad-debt provisions reversed increased
due to the recovery of some accounts receivable.
4
13. Investment income for Jan.-Sept. 2012 stood at RMB 2,053,061.42, up 47.89% over the same
period of last year, which was mainly because the associates generated more gains.
14. Investment income from associates and joint ventures for Jan.-Sept. 2012 stood at RMB
2,053,061.42, up 79.34% over the same period of last year, which was mainly because the associate
Shenzhen Guomao Tian’an Properties Co., Ltd. generated more profit.
15. Net non-operating amount for Jan.-Sept. 2012 stood at RMB 339,392.58, up 122.11% over the
same period of last year, which was mainly because subsidiaries renewed vehicles and disposed old
ones, which generated more income.
16. Income tax expenses for Jan.-Sept. 2012 stood at RMB 51,992,849.23, down 46.35% over the
same period of last year, which was mainly because the profit contributed by the subsidiary
Shenzhen Huangcheng Real Estate Co., Ltd. decreased considerably.
17. Operating profit, total profit and net profit for Jan.-Sept. 2012 stood at RMB 226,298,215.52,
226,637,608.10 and 174,644,758.87 respectively, down 44.51%, 44.21% and 43.55% respectively
over the same period of last year, which was mainly because the carried over income from real
estate for Jan.-Sept. 2012 decreased.
18. Net cash flows from operating activities for Jan.-Sept. 2012 stood at RMB 587,922,305.81, up
239.93% over the same period of last year, which was mainly because of more capital inflows from
sale of properties.
19. Net cash flows from investing activities for Jan.-Sept. 2012 stood at RMB 8,021,682.48, up
206.97% over the same period of last year, which was mainly because the cash received as
investment income increased.
20. Net cash flows from financing activities for Jan.-Sept. 2012 stood at RMB -170,791,033.25,
down 149.88% over the same period of last year, which was mainly because the Company secure
fewer borrowings and repaid more due borrowings.
21. Net increase in cash and cash equivalents for Jan.-Sept. 2012 stood at RMB 425,191,909.55, up
597.69% over the same period of last year, which was mainly because the Company received more
income from house selling for Jan.-Sept. 2012.
(II) Progress of significant events and its influence, as well as the analysis and explanation on
solutions
1. About non-standard audit opinion
□Applicable √Inapplicable
2. The Company offers capital to the controlling shareholder or its related parties or provides external
guarantees in violation of the prescribed procedures.
□Applicable √Inapplicable
3. Signing and execution of significant contracts concerning routine operation
□Applicable √Inapplicable
4. Others
□Applicable √Inapplicable
5
(III) Commitments of the Company or shareholders with an over 5% shareholding made in or carried
down into the reporting period
√Applicable □Inapplicable
Commitment Commitment Commitment
Commitment Contents Fulfillment
maker time period
1. The 1. Up to the date
Company’s of public notice,
non-tradable Construction
share holders Holdings and
Construction Investment
Holdings and Holdings never
Investment sold shares of
Management the Company.
Company made
2.
a common
commitment to (1) Up to the
abide by laws, date of public
regulations and notice,
rules and Investment
perform Holdings never
prescribed sold shares of
commitment the Company
duties. And they actually
also made controlled.
special (2) In order to
commitments as implement the
follows: commitment,
Non-tradable the Company
shares held by prepared to start
Construction the relevant
Holdings and affairs together
Investment with Investment
Management Holdings, and
Shenzhen disclosed the
Investment Company would
Commitments made in a share reform not be traded or 21 Oct. 2009 20 Oct. 2012 Public Notice on
Holdings Co., Implementation
Ltd. transferred
within 36 of Commitment
months since of Share Merger
they acquired Reform on
right of trade. Assets
After expiration Replacement
of the aforesaid and Significant
commitment, Related
originally Transaction,
non-tradable which was
shares sold reviewed and
through the approved at the
listing and First Special
trading system Shareholders’
on the Shenzhen General
Stock Exchange Meeting for
should not 2010, for
exceed 5 details, please
percents of total refer to Public
shares of the Notice on
Company within Resolutions of
12 months, as the First Special
well as not Shareholders’
exceed 10 General
percents within Meeting for
24 months. In 2010;
case these Investment
companies acted Holdings has
against the applied to
6
above Shenzhen
commitment and Branch of China
sold shares of Securities
the Company, Depository and
the income from Clearing
sales of the Corporation
shares would Limited for
belong to the freezing its
Company. actual controlled
2. Investment 30 million
Holdings made a shares of the
commitment to Company under
abide by laws, the name of
regulations and Construction
rules and Holdings, now
perform the frozen
prescribed period is due
commitment and the frozen
duties. And it shares has been
also made released.
special (3) On 18 Mar.
commitments as 2010, the
follows: Company held
(1) Non-tradable the Annual
shares held by Shareholders’
Investment General
Holdings would Meeting 2009,
not be traded or at which
transferred reviewed and
within 36 approved
months since Proposal on
they acquired Application of
right of trade. Entrust Loan
After expiration from
of the aforesaid Controlling
commitment, Shareholder.
originally The
non-tradable Shareholders’
shares sold General
through the Meeting
listing and authorized the
trading system Board of
on the Shenzhen Directors of the
Stock Exchange Company to
should not deal with
exceed 5 signature of
percents of total entrusted loan
shares of the agreement,
Company within renewal of loan,
12 months, as borrow a new
well as not loan to repay
exceed 10 old within RMB
percents within 500 million
24 months. In according to
case these actual need of
companies acted operation and
against the based on
above negotiation with
commitment and Investment
sold shares of Holdings and
the Company, relevant banks.
the income from For details,
sales of the please refer to
shares would Public Notice on
belong to the the Resolutions
Company. of Annual
Shareholders’
7
(2) Within one General
year since the Meeting on 19
non-tradable Mar. 2010. On
shares held by 28 Dec. 2010,
Construction Investment
Holdings and Holdings
Investment entrusted
Management Shenzhen
Company Jingtian
controlled by Sub-branch of
Investment China
Holdings Everbright Bank
acquired the to provide
right of trading, entrust loan of
Shenzhen RMB 10 million
Investment for the
Holdings Co., Company’s
Ltd will start up subsidiary
capital injection Shenzhen ITC
to the Company, Vehicle Industry
that is, Co., Ltd.; from
Shenzhen the end of report
Investment period to the
Holdings Co., date of the
Ltd will inject public notice,
legitimate Investment
capital no less Holdings has
than RMB 500 provided entrust
million loan of RMB
including land 490 million for
resource in lump the Company.
sum or in (4) Whether the
batches by commitment
replace or other will be
legitimate way, implemented is
will increase according to net
land reserves of profit of 2012.
the Company
and enhance
profitability in
the future. In
case the
aforesaid capital
failed to start
completely
within one year,
Shenzhen
Investment
Holdings Co.,
Ltd will
compensate
20% of
reorganization
capital failing to
start to the
Company within
30 days when
expiration of 1
year, and
continued to
implement the
capital injection
which had been
started. As for
the capital
injection failing
to start,
8
Shenzhen
Investment
Holdings Co.,
Ltd will not
implement.
Note: Startup of
capital injection
means capital
injection
program has
been reviewed
and approved by
the
Shareholders’
General Meeting
of the Company.
Shenzhen
Investment
Holdings Co.,
Ltd was willing
to entrust China
Securities
Depository and
Clearing
Corporation
Limited
Shenzhen
Branch to freeze
30 million
shares of the
Company, which
was under name
of Shenzhen
Construction
Investment
Holdings and
actually
controlled by
Shenzhen
Investment
Holdings Co.,
Ltd, as
guarantee for the
above
commitment.
(3) Since
non-tradable
shares held by
Shenzhen
Investment
Holdings Co.,
Ltd, Shenzhen
Construction
Investment
Holdings and
Shenzhen
Investment Co.,
Ltd acquired
right to trade
within 24
months,
Shenzhen
Investment
Holdings Co.,
Ltd commit that
they will support
balance no less
9
than RMB 500
million with
method of
entrust loan in
line with
relevant
provisions of
laws and
administrative
statutes to
release nervous
capital of the
Company. The
aforesaid
balance means
accumulative
incurred amount
within 24
months since the
date when
non-tradable
shares held by
Shenzhen
Investment
Holdings Co.,
Ltd, Shenzhen
Construction
Investment
Holdings and
Shenzhen
Investment Co.,
Ltd acquired
right to trade,
and each entrust
loan for support
will not be less
than 12 months;
the above cash
support of RMB
500 million
excluded entrust
loan offered
before the date
when
non-tradable
shares held by
Shenzhen
Investment
Holdings Co.,
Ltd, Shenzhen
Construction
Investment
Holdings and
Shenzhen
Investment Co.,
Ltd acquired
right to trade.
(4) In case that
net profit of the
Company in any
year of 2010,
2011 and 2012
was less than
2009, Shenzhen
Investment
Holdings Co.,
Ltd. will make
10
up balance of
net profit
between the year
and 2009 with
cash.
Commitments made in an acquisition
Naught Naught Naught Naught
report or report on equity changes
Commitments made in an asset exchange Naught Naught Naught Naught
Commitments made in share issuance Naught Naught Naught Naught
Other commitments made to minority
Naught Naught Naught Naught
shareholders
Is the commitment fulfilled in time or not? √ Yes □ No □ Inapplicable
Specific reason for failing to fulfill the
commitment and the plan for the next step
Is there any commitment made regarding
the horizontal competition and □ Yes □ No √ Inapplicable
related-party transactions caused?
Period for solving the problem as promised
Way of solving the problem
Fulfillment of the commitment
(IV) Predict the 2012 annual operating results
Warnings of possible loss or large-margin change of the accumulated net profit made during the period from the
beginning of the year to the end of the next reporting period compared with the same period of the last year
according to prediction, as well as explanations on the reasons
□Applicable √Inapplicable
(V) Other significant events that need to be explained
1. Securities investment
□Applicable √Inapplicable
2. Investments in derivatives
□Applicable √Inapplicable
3. Derivative investments held at the period-end
□Applicable √Inapplicable
4. Researches, visits and interviews received in the reporting period
Main discussion and
Time of reception Place of reception Way of reception Visitor type Visitor materials provided
by the Company
When will the
BOD Office of the
3 Jul. 2012 By phone Individual Investor Company’ Qianhai
Company
project start?
Introduction to the
BOD Office of the dividends
18 Jul. 2012 By phone Individual Investor
Company distribution plan of
the Company
11
Progress of the
BOD Office of the
9 Aug. 2012 By phone Individual Investor Company’s projects
Company
outside Shenzhen
Situation on the
BOD Office of the
11 Sept. 2012 By phone Individual Investor Company’s
Company
Yangzhou project
Situation on
fulfillment of
commitments made
BOD Office of the
20 Sept. 2012 By phone Individual Investor by major
Company
shareholders in the
share splitting
reform
5. Corporate bonds issued
Any corporate bonds issued?
□ Yes √ No
IV. Appendix
(I) Financial statements
Consolidated statements or not?
√ Yes □ No □ Inapplicable
The currency unit for data of the financial statements below is RMB Yuan unless otherwise specified.
1. Consolidated balance sheet
Prepared by Shenzhen Properties & Resources Development (Group) Ltd.
Unit: RMB Yuan
Item Balance as at 30 Sept. 2012 Balance as at 30 Jun. 2012
Current Assets:
Monetary funds 894,505,651.12 469,313,741.57
Settlement reserves
Intra-group lendings
Transactional financial assets
Notes receivable 300,000.00 200,000.00
Accounts receivable 81,724,927.45 70,557,693.71
Accounts paid in advance 715,666,958.85 474,354,748.39
Premiums receivable
Reinsurance premiums receivable
Receivable reinsurance contract reserves
Interest receivable
Dividend receivable
Other accounts receivable 9,673,680.33 3,372,036.99
Financial assets purchased under
agreements to resell
Inventories 1,702,689,661.53 1,814,992,629.34
Non-current assets due within 1 year
12
Other current assets
Total current assets 3,404,560,879.28 2,832,790,850.00
Non-current assets:
Loans by mandate and advances granted
Available-for-sale financial assets
Held-to-maturity investments
Long-term accounts receivable
Long-term equity investment 83,156,601.39 81,103,539.95
Investing property 257,462,881.08 291,159,907.85
Fixed assets 67,868,265.32 74,166,940.06
Construction in progress
Engineering materials
Disposal of fixed assets
Production biological assets
Oil-gas assets
Intangible assets 115,887,178.87 121,254,256.15
R&D expense
Goodwill
Long-term deferred expenses 1,859,494.32 1,989,226.53
Deferred income tax assets 150,410,775.04 124,102,202.41
Other non-current assets
Total of non-current assets 676,645,196.02 693,776,072.95
Total assets 4,081,206,075.30 3,526,566,922.95
Current liabilities:
Short-term borrowings 660,000,000.00 601,495,212.00
Borrowings from Central Bank
Customer bank deposits and due to
banks and other financial institutions
Intra-group borrowings
Transactional financial liabilities
Notes payable
Accounts payable 172,015,698.95 187,093,587.42
Accounts received in advance 979,075,004.46 208,655,909.41
Financial assets sold for repurchase
Handling charges and commissions
payable
Employee’s compensation payable 43,366,848.95 46,354,982.87
Tax payable 584,240,976.90 499,805,593.28
Interest payable
Dividend payable
Other accounts payable 179,021,319.84 481,167,880.34
Reinsurance premiums payable
Insurance contract reserves
Payables for acting trading of securities
Payables for acting underwriting of
securities
Non-current liabilities due within 1 year 13,559,888.32 218,359,888.32
13
Other current liabilities
Total current liabilities 2,631,279,737.42 2,242,933,053.64
Non-current liabilities:
Long-term borrowings 22,483,333.31 7,333,333.32
Bonds payable
Long-term payables
Specific payables
Estimated liabilities
Deferred income tax liabilities
Other non-current liabilities 124,577,740.16 133,977,130.96
Total non-current liabilities 147,061,073.47 141,310,464.28
Total liabilities 2,778,340,810.89 2,384,243,517.92
Owners’ equity (or shareholders’ equity)
Paid-up capital (or share capital) 595,979,092.00 595,979,092.00
Capital reserves 63,783,019.03 77,820,275.72
Less: Treasury stock
Specific reserves
Surplus reserves 70,368,860.95 70,368,860.95
Provisions for general risks
Retained profits 577,828,134.42 403,183,375.55
Foreign exchange difference -5,955,929.05 -5,890,286.25
Total equity attributable to owners of the
1,302,003,177.35 1,141,461,317.97
Company
Minority interests 862,087.06 862,087.06
Total owners’ (or shareholders’) equity 1,302,865,264.41 1,142,323,405.03
Total liabilities and owners’ (or
4,081,206,075.30 3,526,566,922.95
shareholders’) equity
Legal representative: Che Yugang Person-in-charge of the accounting work: Wang Hanjun
Chief of the accounting division: Shen Xueying
2. Balance sheet of the Company
Prepared by Shenzhen Properties & Resources Development (Group) Ltd.
Unit: RMB Yuan
Item Balance as at 30 Sept. 2012 Balance as at 30 Jun. 2012
Current Assets:
Monetary funds 291,047,661.26 83,846,009.34
Transactional financial assets
Notes receivable
Accounts receivable 56,825,594.28 57,610,601.35
Accounts paid in advance 618,523,100.60 435,617,463.60
Interest receivable
Dividend receivable
Other accounts receivable 85,389,686.05 66,901,359.57
Inventories 323,543,264.42 323,385,959.42
Non-current assets due within 1 year 475,000,000.00
Other current assets
14
Total current assets 1,850,329,306.61 967,361,393.28
Non-current assets:
Available-for-sale financial assets
Held-to-maturity investments
Long-term accounts receivable
Long-term equity investment 315,444,362.35 300,514,039.95
Investing property 194,548,698.98 196,918,915.36
Fixed assets 22,097,857.52 29,002,844.78
Construction in progress
Engineering materials
Disposal of fixed assets
Production biological assets
Oil-gas assets
Intangible assets
R&D expense
Goodwill
Long-term deferred expenses 1,859,494.32 1,989,226.53
Deferred income tax assets
Other non-current assets 280,000,000.00 475,000,000.00
Total of non-current assets 533,950,413.17 1,003,425,026.62
Total assets 2,384,279,719.78 1,970,786,419.90
Current liabilities:
Short-term borrowings
Transactional financial liabilities
Notes payable
Accounts payable 33,613,669.85 33,981,501.43
Accounts received in advance 351,401.50
Employee’s compensation payable 9,042,625.42 7,550,348.37
Tax payable 1,968,018.65 1,829,406.16
Interest payable
Dividend payable
Other accounts payable 1,663,690,307.82 1,268,548,668.33
Non-current liabilities due within 1 year
Other current liabilities
Total current liabilities 1,708,314,621.74 1,312,261,325.79
Non-current liabilities:
Long-term borrowings
Bonds payable
Long-term payables
Specific payables
Estimated liabilities
Deferred income tax liabilities
Other non-current liabilities 1,851,595.90 4,161,870.46
Total non-current liabilities 1,851,595.90 4,161,870.46
Total liabilities 1,710,166,217.64 1,316,423,196.25
Owners’ equity (or shareholders’ equity)
15
Paid-up capital (or share capital) 595,979,092.00 595,979,092.00
Capital reserves 37,754,232.28 38,914,227.99
Less: Treasury stock
Specific reserves
Surplus reserves 69,712,050.51 69,712,050.51
Provisions for general risks
Retained profits -29,331,872.65 -50,242,146.85
Foreign exchange difference
Total owners’ (or shareholders’) equity 674,113,502.14 654,363,223.65
Total liabilities and owners’ (or
2,384,279,719.78 1,970,786,419.90
shareholders’) equity
Legal representative: Che Yugang Person-in-charge of the accounting work: Wang Hanjun
Chief of the accounting division: Shen Xueying
3. Consolidated income statement for the reporting period
Prepared by Shenzhen Properties & Resources Development (Group) Ltd.
Unit: RMB Yuan
Item Jul.-Sept. 2012 Jul.-Sept. 2011
I. Total operating revenues 418,381,326.42 149,684,436.70
Including: Sales income 418,381,326.42 149,684,436.70
Interest income
Premium income
Handling charge and commission
income
II. Total operating cost 319,192,530.02 140,659,365.01
Including: Cost of sales 164,081,318.90 88,277,116.63
Interest expenses
Handling charge and commission
expenses
Surrenders
Net claims paid
Net amount withdrawn for the
insurance contract reserve
Expenditure on policy dividends
Reinsurance premium
Taxes and associate charges 122,085,226.17 15,236,488.21
Selling and distribution expenses 10,536,332.44 8,244,545.62
Administrative expenses 24,179,447.59 24,996,117.18
Financial expenses -1,689,795.08 3,900,097.37
Asset impairment loss 5,000.00
Add: Gain/(loss) from change in fair value
-3,364.50
(“-” means loss)
Gain/(loss) from investment (“-”
551,552.30 708,904.17
means loss)
Including: share of profits in
551,552.30 465,464.86
associates and joint ventures
Foreign exchange gains (“-” means
loss)
16
III. Business profit (“-” means loss) 99,740,348.70 9,730,611.36
Add: non-operating income 948,915.94 216,351.70
Less: non-operating expense 115,750.74 1,862,043.62
Including: loss from non-current
28,458.15 2,793.00
asset disposal
IV. Total profit (“-” means loss) 100,573,513.90 8,084,919.44
Less: Income tax expense 24,251,040.34 166,605.56
V. Net profit (“-” means loss) 76,322,473.56 7,918,313.88
Including: Net profit achieved by
1,280,913.16
combined parties before the combinations
Attributable to owners of the
76,322,473.56 7,918,313.88
Company
Minority shareholders’ income
VI. Earnings per share -- --
(I) Basic earnings per share 0.1281 0.0133
(II) Diluted earnings per share 0.1281 0.0133
VII. Other comprehensive incomes -220,538.72 1,365,300.15
VIII. Total comprehensive incomes 76,101,934.84 9,283,614.03
Attributable to owners of the
76,101,934.84 9,283,614.03
Company
Attributable to minority shareholders
Where business mergers under the same control occurred in this reporting period, the net profit achieved by the merged parties before
the business mergers was RMB 0.
Legal representative: Che Yugang Person-in-charge of the accounting work: Wang Hanjun
Chief of the accounting division: Shen Xueying
4. Income statement of the Company for the reporting period
Prepared by Shenzhen Properties & Resources Development (Group) Ltd.
Unit: RMB Yuan
Item Jul.-Sept. 2012 Jul.-Sept. 2011
I. Total sales 11,984,996.41 18,088,202.33
Less: cost of sales 4,733,631.14 9,138,030.94
Business taxes and surcharges 2,006,295.65 1,741,847.05
Distribution expenses
Administrative expenses 9,973,393.45 9,345,936.07
Financial costs -255,381.09 -388,384.89
Impairment loss 342,038.98 5,000.00
Add: gain/(loss) from change in fair
-3,364.50
value (“-” means loss)
Gain/(loss) from investment (“-”
9,748,302.30 5,933,532.84
means loss)
Including: income form investment
551,552.30 465,464.86
on associates and joint ventures
II. Business profit (“-” means loss) 4,933,320.58 4,175,941.50
Add: non-business income 54,040.00 44,681.26
Less: non-business expense 31,452.19 1,684,900.09
Including: loss from non-current
1,359.60 2,793.00
asset disposal
17
III. Total profit (“-” means loss) 4,955,908.39 2,535,722.67
Less: income tax expense
IV. Net profit (“-” means loss) 4,955,908.39 2,535,722.67
V. Earnings per share -- --
(I) Basic earnings per share 0.0083 0.0043
(II) Diluted earnings per share 0.0083 0.0043
VI. Other comprehensive income
VII. Total comprehensive income 4,955,908.39 2,535,722.67
Legal representative: Che Yugang Person-in-charge of the accounting work: Wang Hanjun
Chief of the accounting division: Shen Xueying
5. Consolidated income statement from 1 Jan. 2012 to 30 Sept. 2012
Prepared by Shenzhen Properties & Resources Development (Group) Ltd.
Unit: RMB Yuan
Item Jan.-Sept. 2012 Jan.-Sept. 2011
I. Total operating revenues 1,041,304,227.34 1,305,470,494.77
Including: Sales income 1,041,304,227.34 1,305,470,494.77
Interest income
Premium income
Handling charge and commission
income
II. Total operating cost 817,059,073.24 899,052,250.15
Including: Cost of sales 556,100,440.83 456,660,124.87
Interest expenses
Handling charge and commission
expenses
Surrenders
Net claims paid
Net amount withdrawn for the
insurance contract reserve
Expenditure on policy dividends
Reinsurance premium
Taxes and associate charges 180,373,360.25 349,990,123.06
Selling and distribution expenses 18,738,366.82 16,044,617.43
Administrative expenses 70,816,177.65 67,750,039.92
Financial expenses -3,011,331.35 9,103,449.52
Asset impairment loss -5,957,940.96 -496,104.65
Add: Gain/(loss) from change in fair
-3,364.50
value (“-” means loss)
Gain/(loss) from investment (“-”
2,053,061.42 1,388,242.80
means loss)
Including: share of profits in
2,053,061.42 1,144,803.49
associates and joint ventures
Foreign exchange gains (“-” means
loss)
III. Business profit (“-” means loss) 226,298,215.52 407,803,122.92
Add: non-operating income 2,129,595.68 1,195,006.55
Less: non-operating expense 1,790,203.10 2,729,926.94
18
Including: loss from non-current
58,159.07 23,948.77
asset disposal
IV. Total profit (“-” means loss) 226,637,608.10 406,268,202.53
Less: Income tax expense 51,992,849.23 96,905,804.55
V. Net profit (“-” means loss) 174,644,758.87 309,362,397.98
Including: Net profit achieved by
1,912,516.93 3,085,742.87
combined parties before the combinations
Attributable to owners of the Company 174,644,758.87 309,362,397.98
Minority shareholders’ income
VI. Earnings per share -- --
(I) Basic earnings per share 0.293 0.5191
(II) Diluted earnings per share 0.293 0.5191
VII. Other comprehensive incomes -65,642.80 688,305.57
VIII. Total comprehensive incomes 174,579,116.07 310,050,703.55
Attributable to owners of the
174,579,116.07 310,050,703.55
Company
Attributable to minority shareholders
Where business mergers under the same control occurred from 1 Jan. 2012 to 30 Sept. 2012, the net profit achieved by the merged
parties before the business mergers was RMB 1,912,516.93.
Legal representative: Che Yugang Person-in-charge of the accounting work: Wang Hanjun
Chief of the accounting division: Shen Xueying
6. Income statement of the Company from 1 Jan. 2012 to 30 Sept. 2012
Prepared by Shenzhen Properties & Resources Development (Group) Ltd.
Unit: RMB Yuan
Item Jan.-Sept. 2012 Jan.-Sept. 2011
I. Total sales 35,434,861.35 36,255,616.92
Less: cost of sales 14,490,936.40 18,444,014.06
Business taxes and surcharges 6,957,264.20 4,380,101.43
Distribution expenses
Administrative expenses 28,075,665.49 26,286,054.08
Financial costs -1,225,535.01 115,495.26
Impairment loss -4,724,920.76 140,737.76
Add: gain/(loss) from change in fair
-3,364.50
value (“-” means loss)
Gain/(loss) from investment (“-”
30,207,003.19 9,691,271.47
means loss)
Including: income form investment
2,053,061.42 1,144,803.49
on associates and joint ventures
II. Business profit (“-” means loss) 22,068,454.22 -3,422,878.70
Add: non-business income 345,608.93 133,928.33
Less: non-business expense 1,503,788.95 2,458,370.76
Including: loss from non-current
1,359.60 2,793.00
asset disposal
III. Total profit (“-” means loss) 20,910,274.20 -5,747,321.13
Less: income tax expense
IV. Net profit (“-” means loss) 20,910,274.20 -5,747,321.13
V. Earnings per share -- --
19
(I) Basic earnings per share 0.0351 -0.0096
(II) Diluted earnings per share 0.0351 -0.0096
VI. Other comprehensive income
VII. Total comprehensive income 20,910,274.20 -5,747,321.13
Legal representative: Che Yugang Person-in-charge of the accounting work: Wang Hanjun
Chief of the accounting division: Shen Xueying
7. Consolidated cash flow statement from 1 Jan. 2012 to 30 Sept. 2012
Prepared by Shenzhen Properties & Resources Development (Group) Ltd.
Unit: RMB Yuan
Item Jan.-Sept. 2012 Jan.-Sept. 2011
I. Cash flows from operating activities:
Cash received from sale of commodities
1,585,210,179.74 500,307,414.98
and rendering of service
Net increase of deposits from customers
and dues from banks
Net increase of loans from the central
bank
Net increase of funds borrowed from
other financial institutions
Cash received from premium of original
insurance contracts
Net cash received from reinsurance
business
Net increase of deposits of policy
holders and investment fund
Net increase of disposal of tradable
financial assets
Cash received from interest, handling
charges and commissions
Net increase of intra-group borrowings
Net increase of funds in repurchase
business
Tax refunds received
Other cash received relating to operating
18,018,232.63 60,270,787.47
activities
Subtotal of cash inflows from operating
1,603,228,412.37 560,578,202.45
activities
Cash paid for goods and services 496,469,948.90 632,575,741.85
Net increase of customer lendings and
advances
Net increase of funds deposited in the
central bank and amount due from banks
Cash for paying claims of the original
insurance contracts
Cash for paying interest, handling
charges and commissions
Cash for paying policy dividends
Cash paid to and for employees 177,842,182.24 164,011,492.87
Various taxes paid 248,831,302.47 122,362,379.15
20
Other cash payment relating to operating
92,162,672.95 61,791,824.89
activities
Subtotal of cash outflows from operating
1,015,306,106.56 980,741,438.76
activities
Net cash flows from operating activities 587,922,305.81 -420,163,236.31
II. Cash flows from investing activities:
Cash received from withdrawal of
investments
Cash received from return on
9,705,931.45 243,439.31
investments
Net cash received from disposal of fixed
assets, intangible assets and other 735,231.00 545,368.90
long-term assets
Net cash received from disposal of
subsidiaries or other business units
Other cash received relating to investing
activities
Subtotal of cash inflows from investing
10,441,162.45 788,808.21
activities
Cash paid to acquire fixed assets,
2,419,479.97 8,287,823.23
intangible assets and other long-term assets
Cash paid for investment
Net increase of pledged loans
Net cash paid to acquire subsidiaries and
other business units
Other cash payments relating to
investing activities
Subtotal of cash outflows from investing
2,419,479.97 8,287,823.23
activities
Net cash flows from investing activities 8,021,682.48 -7,499,015.02
III. Cash Flows from Financing Activities:
Cash received from capital contributions
Including: Cash received from minority
shareholder investments by subsidiaries
Cash received from borrowings 186,000,000.00 547,695,212.00
Cash received from issuance of bonds
Other cash received relating to financing
activities
Subtotal of cash inflows from financing
186,000,000.00 547,695,212.00
activities
Repayment of borrowings 317,145,212.01 172,140,000.00
Cash paid for interest expenses and
38,061,321.24 32,036,311.19
distribution of dividends or profit
Including: dividends or profit paid by
subsidiaries to minority shareholders
Other cash payments relating to
1,584,500.00 1,102,200.00
financing activities
Sub-total of cash outflows from financing
356,791,033.25 205,278,511.19
activities
Net cash flows from financing activities -170,791,033.25 342,416,700.81
IV. Effect of foreign exchange rate
38,954.51 -187,494.94
changes on cash and cash equivalents
V. Net increase in cash and cash 425,191,909.55 -85,433,045.46
21
equivalents
Add: Opening balance of cash and cash
469,313,741.57 545,466,594.53
equivalents
VI. Closing balance of cash and cash
894,505,651.12 460,033,549.07
equivalents
Legal representative: Che Yugang Person-in-charge of the accounting work: Wang Hanjun
Chief of the accounting division: Shen Xueying
8. Cash flow statement of the Company from 1 Jan. 2012 to 30 Sept. 2012
Prepared by Shenzhen Properties & Resources Development (Group) Ltd.
Unit: RMB Yuan
Item Jan.-Sept. 2012 Jan.-Sept. 2011
I. Cash flows from operating activities:
Cash received from sale of commodities
35,264,786.16 35,309,320.83
and rendering of service
Tax refunds received
Other cash received relating to operating
727,979,585.98 1,358,354,510.20
activities
Subtotal of cash inflows from operating
763,244,372.14 1,393,663,831.03
activities
Cash paid for goods and services 5,097,690.13 392,843,556.61
Cash paid to and for employees 13,377,954.00 14,208,550.00
Various taxes paid 10,068,456.28 6,202,692.36
Other cash payment relating to operating
555,738,828.65 312,614,581.41
activities
Subtotal of cash outflows from operating
584,282,929.06 725,869,380.38
activities
Net cash flows from operating activities 178,961,443.08 667,794,450.65
II. Cash flows from investing activities:
Cash received from retraction of
268,735.50
investments
Cash received from return on
37,859,931.45 8,546,467.98
investments
Net cash received from disposal of fixed
assets, intangible assets and other
long-term assets
Net cash received from disposal of
subsidiaries or other business units
Other cash received relating to
investing activities
Subtotal of cash inflows from investing
37,859,931.45 8,815,203.48
activities
Cash paid to acquire fixed assets,
9,619,722.61 2,366,005.00
intangible assets and other long-term assets
Cash paid for investment 525,000,000.00
Net cash paid to acquire subsidiaries and
other business units
Other cash payments relating to
investing activities
Subtotal of cash outflows from investing
9,619,722.61 527,366,005.00
activities
22
Net cash flows from investing activities 28,240,208.84 -518,550,801.52
III. Cash flows from financing activities:
Cash received from capital
contributions
Cash received from borrowings
Cash received from issuance of bonds
Other cash received relating to
financing activities
Subtotal of cash inflows from financing
0.00 0.00
activities
Repayment of borrowings
Cash paid for interest expenses and
distribution of dividends or profit
Other cash payments relating to
financing activities
Sub-total of cash outflows from financing
0.00 0.00
activities
Net cash flows from financing activities 0.00 0.00
IV. Effect of foreign exchange rate
-125.07
changes on cash and cash equivalents
V. Net increase in cash and cash
207,201,651.92 149,243,524.06
equivalents
Add: Opening balance of cash and
83,846,009.34 78,920,447.75
cash equivalents
VI. Closing balance of cash and cash
291,047,661.26 228,163,971.81
equivalents
Legal representative: Che Yugang Person-in-charge of the accounting work: Wang Hanjun
Chief of the accounting division: Shen Xueying
(II) Audit report
Un-audited.
23
