Report for the First Quarter of 2015 of Shenzhen Properties & Resources Development (Group) Ltd.
Shenzhen Properties & Resources Development (Group) Ltd.
Report for the First Quarter of 2015
2015-11
Apr. 2015
1
Report for the First Quarter of 2015 of Shenzhen Properties & Resources Development (Group) Ltd.
Section I. Important Reminders
The Board of Directors, the Supervisory Committee, directors, supervisors and
senior management staff of Shenzhen Properties & Resources Development
(Group) Ltd. (hereinafter referred to as “the Company”) warrant that the
information carried in this report is factual, accurate and complete, without any
false record, misleading statement or material omission. And they shall be
jointly and severally liable for that.
Mr. Chen Yugang, company principal, Mr. Wang Hangjun, chief of the
accounting work, and Ms. Shen Xueying, chief of the accounting organ (chief of
accounting), hereby confirm that the financial statements enclosed in this report
are factual, accurate and complete.
All directors have attended the board session for reviewing this report.
This report is prepared in both Chinese and English. Should there be any
discrepancy between the two versions, the Chinese version shall prevail.
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Report for the First Quarter of 2015 of Shenzhen Properties & Resources Development (Group) Ltd.
Section II. Financial Highlights & Changes in Shareholders
I. Main accounting data and financial indicators
Does the Company adjust retrospectively or restate accounting data of previous years due to change of the accounting policy or
correction of any accounting error?
□ Yes √ No
Jan.-Mar. 2015 Jan.-Mar. 2014 +/- (%)
Operating revenues (RMB Yuan) 135,271,193.34 194,462,902.01 -30.44%
Net profit attributable to shareholders of
356,364.92 27,725,441.51 -98.71%
the Company (RMB Yuan)
Net profit attributable to shareholders of
the Company after extraordinary gains and 254,313.28 24,910,981.85 -98.98%
losses (RMB Yuan)
Net cash flows from operating activities
-129,634,375.83 -33,493,465.85 287.04%
(RMB Yuan)
Basic EPS (RMB Yuan/share) 0.0006 0.0465 -98.71%
Diluted EPS (RMB Yuan/share) 0.0006 0.0465 -98.71%
Weighted average ROE (%) 0.02% 1.53% -1.51%
31 Mar. 2015 31 Dec. 2014 +/- (%)
Total assets (RMB Yuan) 3,816,825,942.62 3,883,288,145.46 -1.71%
Net assets attributable to shareholders of
2,075,471,013.61 2,074,242,662.07 0.06%
the Company (RMB Yuan)
Items and amounts of extraordinary gains and losses
√ Applicable □ Inapplicable
Unit: RMB Yuan
Item Jan.-Mar. 2015 Explanation
Gains/losses on the disposal of non-current assets (including the
-2,775.00
offset part of asset impairment provisions)
Other non-operating income and expenses other than the above 43,065.42
Less: Income tax effects -61,761.22
Total 102,051.64 --
Explain the reasons if the Company classifies an item as an extraordinary gain/loss according to the definition in the Explanatory
Announcement No. 1 on Information Disclosure for Companies Offering Their Securities to the Public—Extraordinary Gains and
Losses, or classifies any extraordinary gain/loss item mentioned in the said explanatory announcement as a recurrent gain/loss item
□ Applicable √ Inapplicable
No such cases in the reporting period.
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Report for the First Quarter of 2015 of Shenzhen Properties & Resources Development (Group) Ltd.
II. Total number of shareholders at the period-end and shareholdings of top 10 shareholders
1. Total number of common shareholders at the period-end and shareholdings of top 10 common
shareholders
Unit: share
Total number of common
37,740
shareholders at the period-end
Shareholdings of top 10 common shareholders
Number of Pledged or frozen shares
Name of Nature of Shareholding Number of shares
restricted shares
shareholder shareholder percentage (%) held Status of shares Number of shares
held
SHENZHEN
CONSTRUCTIO
N State-owned
54.33% 323,796,324 293,997,370
INVESTMENT corporation
HOLDINGS
CORPORATION
SHENZHEN
INVESTMENT
State-owned
MANAGEMEN 9.49% 56,582,573 56,582,573
corporation
T
CORPORATION
SHENZHEN
DUTY-FREE Domestic
COMMODITY non-state-owned 0.29% 1,730,300 1,730,300
ENTERPRISES corporation
CO., LTD.
Domestic natural
Zhu Yiping 0.22% 1,213,039 0
person
Domestic natural
Chen Liying 0.17% 1,076,051
person
ZRGG-Zhongron
g-Assembled
Funds Trust Plan
of Quantitative
0.17% 987,567 0
Hedge Securities
Investment of
No. 2 of
Ruitianfu
ZRGG-Zhongron 0.16% 852,639 0
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Report for the First Quarter of 2015 of Shenzhen Properties & Resources Development (Group) Ltd.
g-Assembled
Funds Trust Plan
of Quantitative
Hedge Securities
Investment of
No. 8 of
Rongyuanzhengy
ing
Minmetals
International
Trust Co.,
Ltd.-Assembled
Funds Trust Plan
0.15% 728,800 0
of Quantitative
Hedge Securities
Investment of
No. 2 of
Zhengshun
Domestic natural
Zhou Xiaohong 0.15% 715,776 0
person
ZRGG-Assemble
d Funds Trust
Plan of
Quantitative
0.14% 652,000 0
Hedge Securities
Investment of
No. 1 of
Zhirongying
Shareholdings of top 10 non-restricted common shareholders
Variety of shares
Name of shareholder Number of non-restricted common shares held
Variety Number
SHENZHEN CONSTRUCTION
RMB ordinary
INVESTMENT HOLDINGS 29,798,954 29,798,954
shares
CORPORATION
RMB ordinary
Zhu Yiping 1,213,039 1,213,039
shares
Domestically
Chen Liying 1,076,051 listed foreign
shares
ZRGG-Zhongrong-Assembled RMB ordinary
987,567 987,567
Funds Trust Plan of Quantitative shares
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Report for the First Quarter of 2015 of Shenzhen Properties & Resources Development (Group) Ltd.
Hedge Securities Investment of No.
2 of Ruitianfu
ZRGG-Zhongrong-Assembled
Funds Trust Plan of Quantitative RMB ordinary
852,639 852,639
Hedge Securities Investment of No. shares
8 of Rongyuanzhengying
Minmetals International Trust Co.,
Ltd.-Assembled Funds Trust Plan of RMB ordinary
728,800 728,800
Quantitative Hedge Securities shares
Investment of No. 2 of Zhengshun
RMB ordinary
Zhou Xiaohong 715,776 715,776
shares
ZRGG-Assembled Funds Trust Plan
RMB ordinary
of Quantitative Hedge Securities 652,000 652,000
shares
Investment of No. 1 of Zhirongying
RMB ordinary
Wu Shilong 642,527 642,527
shares
Guangdong Finance Trust Co., Ltd.-
Assembled Funds Trust Plan of
RMB ordinary
Quantitative Hedge Securities 592,500 592,500
shares
Investment of No. 5 of Jingyinghui
Xiangcai Capital
Explanation on associated The top 10 common shareholders, the first shareholder and the second shareholder are
relationship or persons acting in managed by Shenzhen Investment Holding Corporation, the actual controlling shareholder of
concert among the above-mentioned the Company. Other than that, it is unknown whether the remaining 8 shareholders are related
shareholders parties or acting-in-concert parties.
Did any of the top 10 common shareholders or the top 10 non-restricted common shareholders of the Company conduct any
promissory repo during the reporting period?
□ Yea √ No
No such cases in the reporting period.
2. Total number of preferred shareholders at the period-end and shareholdings of top 10 preferred
shareholders
□ Applicable √ Inapplicable
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Report for the First Quarter of 2015 of Shenzhen Properties & Resources Development (Group) Ltd.
Section III. Significant Events
I. Significant changes in the major accounting statement items and financial indicators for the
reporting period, as well as the reasons for these changes
√ Applicable □ Inapplicable
1. Accounts receivable stood at RMB 38,471,654.21 at the end of the reporting period, up 44.71% from the
opening amount, which was mainly because subsidiaries’ property management receivables increased.
2. Prepayments stood at RMB 41,558,900.88 at the end of the reporting period, up 59.90% from the opening
amount, which was mainly because subsidiaries’ prepayments for taxi renewal increased.
3. Other receivables stood at RMB 9,087,377.36 at the end of the reporting period, up 36.89% from the opening
amount, which was mainly because the utilities that were paid by subsidiaries on behalf of their clients and not yet
cleared with them, etc. increased.
4. Short-term borrowings stood at RMB 30,000,000.00 at the end of the reporting period, down 70.00% from the
opening amount, which was mainly because the mature borrowings were repaid.
5. Accounts received in advance stood at RMB 48,414,575.43 at the end of the reporting period, up 68.36% from
the opening amount, which was mainly because the advances from house buyers increased.
6. Non-current liabilities due within one year stood at RMB 0.00 at the end of the reporting period, down 100.00%
from the opening amount, which was mainly because the mature borrowings were repaid.
7. Deferred income tax liabilities stood at RMB 612,375.00 at the end of the reporting period, up 137.70% from
the opening amount, which was mainly because the fair value of the available-for-sale financial assets held by the
Company increased.
8. Operating revenues for the reporting period stood at RMB 135,271,193.34, down 30.44% from the same period
of last year, which was mainly because the project area available for settlement decreased.
9. Business tax and surtaxes for the reporting period stood at RMB 11,318,731.55, down 68.02% from the same
period of last year, which was mainly because the real estate income decreased and the business tax, land VAT
and other taxes and fares decreased accordingly.
10. Selling expenses for the reporting period stood at RMB 3,613,799.88, up 121.36% from the same period of
last year, which was mainly because the Company enhanced marketing and paid more for advertising.
11. Investment gains for the reporting period stood at RMB 309,996.43 and the investment gains on associates and
joint ventures for the reporting period stood at RMB 309,996.43, both down 40.32% from the same period of last
year, which was mainly because joint venture Shenzhen Guomao Tian’an Properties Co., Ltd. was sold last year.
12. Net non-operating income for the reporting period stood at RMB 40,290.42, down 88.78% from the same
period of last year, which was mainly because the fines and so on paid increased.
13. Income tax expenses for the reporting period stood at RMB 1,663,553.21, down 83.16% from the same period
of last year, which was mainly because the profits decreased.
14. Operating profits, total profits and net profits (attributable to the Company) for the reporting period stood at
RMB 1,979,627.71, RMB 2,019,918.13 and RMB 356,364.92 respectively, down 94.68%, 94.63% and 98.71%
respectively from the same period of last year, which was mainly because the real estate area available for
settlement decreased, causing a considerable decrease in the real estate income.
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Report for the First Quarter of 2015 of Shenzhen Properties & Resources Development (Group) Ltd.
15. The net after-tax amount of other comprehensive gains for the reporting period stood at RMB 871,986.62, up
310.09% from the same period of last year, which was mainly because the fair value of the available-for-sale
financial assets held by the Company increased.
16. Net cash flows from operating activities for the reporting period stood at RMB -129,634,375.83, with net
outflows up 287.04% from the same period of last year, which was mainly because the incoming funds from sale
of houses decreased and the inputs to project development increased.
17. Net cash flows from investing activities for the reporting period stood at RMB -14,011,460.10, with net cash
outflows up 1922.97% from the same period of last year, which was mainly because subsidiaries renewed taxies.
18. Net cash flows from financing activities for the reporting period stood at RMB -58,656,309.66, with net cash
outflows down 55.13% from the same period of last year, which was mainly because cash repayments decreased.
II. Progress of significant events and analysis & explanations on their influence and solutions
□ Applicable √ Inapplicable
III. Commitments made by the Company or any shareholder with a shareholding over 5% in
the reporting period or such commitments made in previous period and carried down into the
reporting period
□ Applicable √ Inapplicable
No such cases in the reporting period.
IV. Predict the operating results of Jan.-Jun. 2015
Warning of possible loss or considerable YoY change of the accumulated net profit made during the period-begin to the end of the
next reporting period according to prediction, as well as explanations on the reasons
√ Applicable □ Inapplicable
Prediction: significant increase in the same direction
Type of the predicted data: exact quantity
Jan.-Jun. 2015 Jan.-Jun. 2014 +/-
Predicted accumulative net
150 11,207 Down -98.66%
profit (RMB Ten thousand)
Basic EPS (RMB Yuan/share) 0.0025 0.1881 Down -98.66%
Main reason for the considerable fluctuation of the business results: a considerable decrease of the
sales of the realized projects and the total available-for-settlement area of Jan.-Jun. 2015 over the
Explanation about the same period of last year. The aforesaid estimate was preliminary measurement given by the
predictions Company according to the current sales situation of real estate projects. Investors are kindly
reminded to be noted that the actual earnings of the Company for Jan.-Jun. 2015 shall be subject to
data disclosed in the Company’s 2015 Semi-annual Report.
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Report for the First Quarter of 2015 of Shenzhen Properties & Resources Development (Group) Ltd.
V. Securities investments
□ Applicable √ Inapplicable
No such cases in the reporting period.
VI. Shareholdings in other listed companies
√ Applicable □ Inapplicable
Code of Abbreviati Initial investment Percentage Equity changes
securities on of amount of equities Gain/loss for report of the owner in Accounting Source of
Closing book value
securities period the reporting title stock
period
000509 China 2,962,500.00 0.10% 5,412,000.00 0.00 1,064,250.00 Available-fo Directional
Plastic r-sale purchase of
Holding financial the corporate
assets shares
Total 2,962,500.00 - 5,412,000.00 0.00 1,064,250.00
VII. Investments in derivatives
□ Applicable √ Inapplicable
No such cases in the reporting period.
VIII. Researches, visits and interviews received in the reporting period
√ Applicable □ Inapplicable
Main discussion and
Time of reception Place of reception Way of reception Visitor type Visitor materials provided by the
Company
Telephone If there is a new flats fin the
6 Feb. 2015 Company offices Individual Investor
communication first quarter
If there is movement
Telephone
18 Mar. 2015 Company offices Individual Investor instate-owned enterprise
communication
reform
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Report for the First Quarter of 2015 of Shenzhen Properties & Resources Development (Group) Ltd.
Section IV. Financial Statements
I. Financial statements
1. Consolidated balance sheet
Prepared by Shenzhen Properties & Resources Development (Group) Ltd.
31 Mar. 2015
Unit: RMB Yuan
Item Closing balance Opening balance
Current Assets:
Monetary funds 606,851,635.14 808,963,376.68
Settlement reserves
Intra-group lendings
Financial assets measured at fair
value of which changes are recorded in
current profits and losses
Derivative financial assets
Notes receivable
Accounts receivable 38,471,654.21 26,585,132.12
Accounts paid in advance 41,558,900.88 25,989,832.24
Premiums receivable
Reinsurance premiums receivable
Receivable reinsurance contract
reserves
Interest receivable
Dividend receivable
Other accounts receivable 9,087,377.36 6,638,425.25
Financial assets purchased under
agreements to resell
Inventories 2,430,579,478.72 2,323,472,671.20
Assets held for sale
Non-current assets due within 1 year
Other current assets
Total current assets 3,126,549,046.31 3,191,649,437.49
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Report for the First Quarter of 2015 of Shenzhen Properties & Resources Development (Group) Ltd.
Non-current assets:
Loans by mandate and advances
granted
Available-for-sale financial assets 19,912,000.00 18,493,000.00
Held-to-maturity investments
Long-term accounts receivable
Long-term equity investment 33,198,935.84 32,888,939.41
Investing real estate 251,797,241.30 250,014,034.94
Fixed assets 60,555,802.60 64,069,233.96
Construction in progress
Engineering materials
Disposal of fixed assets
Production biological assets
Oil-gas assets
Intangible assets 98,004,461.27 99,792,587.03
R&D expense
Goodwill
Long-term deferred expenses 2,420,970.29 2,553,053.03
Deferred income tax assets 217,112,416.01 216,552,790.60
Other non-current assets 7,275,069.00 7,275,069.00
Total of non-current assets 690,276,896.31 691,638,707.97
Total assets 3,816,825,942.62 3,883,288,145.46
Current liabilities:
Short-term borrowings 30,000,000.00 100,000,000.00
Borrowings from Central Bank
Customer bank deposits and due to
banks and other financial institutions
Intra-group borrowings
Financial liabilities measured at fair
value of which changes are recorded in
current profits and losses
Derivative financial liabilities
Notes payable
Accounts payable 149,966,620.38 175,347,021.19
Accounts received in advance 48,414,575.43 28,756,337.08
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Report for the First Quarter of 2015 of Shenzhen Properties & Resources Development (Group) Ltd.
Financial assets sold for repurchase
Handling charges and commissions
payable
Payroll payable 55,716,383.90 57,777,210.65
Tax payable 1,000,639,676.83 1,015,363,636.69
Interest payable 459,245.70 562,879.72
Dividend payable
Other accounts payable 121,714,056.07 111,032,824.55
Reinsurance premiums payable
Insurance contract reserves
Payables for acting trading of
securities
Payables for acting underwriting of
securities
Liabilities held for sale
Non-current liabilities due within 1
5,000,000.00
year
Other current liabilities
Total current liabilities 1,406,910,558.31 1,493,839,909.88
Non-current liabilities:
Long-term borrowings 197,266,352.00 177,613,352.00
Bonds payable
Of which: preferred shares
Perpetual bonds
Long-term payables
Long-term payroll payables
Specific payables
Estimated liabilities
Deferred income 21,126,364.94 21,765,846.69
Deferred income tax liabilities 612,375.00 257,625.00
Other non-current liabilities 114,577,191.70 114,706,662.76
Total non-current liabilities 333,582,283.64 314,343,486.45
Total liabilities 1,740,492,841.95 1,808,183,396.33
Owners’ equity:
Share capital 595,979,092.00 595,979,092.00
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Report for the First Quarter of 2015 of Shenzhen Properties & Resources Development (Group) Ltd.
Other equity instruments
Of which: preferred shares
Perpetual bonds
Capital reserves 119,951,533.93 119,951,533.93
Less: Treasury stock
Other comprehensive income -3,134,154.91 -4,006,141.53
Specific reserves
Surplus reserves 136,591,232.84 136,591,232.84
Provisions for general risks
Retained profits 1,226,083,309.75 1,225,726,944.83
Total equity attributable to owners of
2,075,471,013.61 2,074,242,662.07
the Company
Minority interests 862,087.06 862,087.06
Total owners’ equity 2,076,333,100.67 2,075,104,749.13
Total liabilities and owners’ equity 3,816,825,942.62 3,883,288,145.46
Legal representative: Chen Yugang Person-in-charge of the accounting work: Wang Hangjun
Chief of the accounting division: Shen Xueying
2. Balance sheet of the Company
Unit: RMB Yuan
Item Closing balance Opening balance
Current Assets:
Monetary funds 232,019,934.57 338,036,109.52
Financial assets measured at fair
value of which changes are recorded in
current profits and losses
Derivative financial assets
Notes receivable
Accounts receivable 1,806,159.02 1,029,211.52
Accounts paid in advance
Interest receivable
Dividend receivable
Other accounts receivable 1,846,732,093.31 1,758,238,266.73
Inventories 404,165,419.85 385,762,064.03
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Report for the First Quarter of 2015 of Shenzhen Properties & Resources Development (Group) Ltd.
Assets held for sale
Non-current assets due within 1 year
Other current assets
Total current assets 2,484,723,606.75 2,483,065,651.80
Non-current assets:
Available-for-sale financial assets 5,642,500.00 4,223,500.00
Held-to-maturity investments
Long-term accounts receivable
Long-term equity investment 279,756,196.82 279,446,200.39
Investing real estate 165,678,462.48 162,666,161.07
Fixed assets 11,086,534.13 11,701,031.08
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 1,427,053.62 1,470,297.69
Deferred income tax assets 135,508.89
Other non-current assets
Total of non-current assets 463,726,255.94 459,507,190.23
Total assets 2,948,449,862.69 2,942,572,842.03
Current liabilities:
Short-term borrowings
Financial liabilities measured at fair
value of which changes are recorded in
current profits and losses
Derivative financial liabilities
Notes payable
Accounts payable 27,479,204.86 27,475,005.86
Accounts received in advance 556,723.50
Payroll payable 11,551,646.51 9,765,464.25
Tax payable 36,596,832.82 44,829,812.84
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Report for the First Quarter of 2015 of Shenzhen Properties & Resources Development (Group) Ltd.
Interest payable 663,111.33 621,676.25
Dividend payable
Other accounts payable 1,354,936,031.32 1,362,785,410.73
Liabilities held for sale
Non-current liabilities due within 1
year
Other current liabilities
Total current liabilities 1,431,226,826.84 1,446,034,093.43
Non-current liabilities:
Long-term borrowings 296,023,000.00 276,370,000.00
Bonds payable
Of which: preferred shares
Perpetual bonds
Long-term payables
Long-term payroll payables
Specific payables
Estimated liabilities
Deferred income
Deferred income tax liabilities 612,375.00 257,625.00
Other non-current liabilities
Total non-current liabilities 296,635,375.00 276,627,625.00
Total liabilities 1,727,862,201.84 1,722,661,718.43
Owners’ equity:
Share capital 595,979,092.00 595,979,092.00
Other equity instruments
Of which: preferred shares
Perpetual bonds
Capital reserves 94,057,859.68 94,057,859.68
Less: Treasury stock
Other comprehensive income 3,997,425.45 2,933,175.45
Specific reserves
Surplus reserves 135,934,422.40 135,934,422.40
Retained profits 390,618,861.32 391,006,574.07
Total owners’ equity 1,220,587,660.85 1,219,911,123.60
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Report for the First Quarter of 2015 of Shenzhen Properties & Resources Development (Group) Ltd.
Total liabilities and owners’ equity 2,948,449,862.69 2,942,572,842.03
3. Consolidated income statement
Unit: RMB Yuan
Item Jan.-Mar. 2015 Jan.-Mar. 2014
I. Total operating revenues 135,271,193.34 194,462,902.01
Including: Sales income 135,271,193.34 194,462,902.01
Interest income
Premium income
Handling charge and commission
income
II. Total operating costs 133,601,562.06 157,739,235.15
Including: Cost of sales 96,780,815.07 99,128,200.24
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 11,318,731.55 35,390,468.29
Selling and distribution expenses 3,613,799.88 1,632,556.99
Administrative expenses 24,803,739.93 24,658,855.05
Financial expenses -2,915,524.37 -3,070,845.42
Asset impairment loss
Add: Gain/(loss) from change in fair
value (“-” means loss)
Gain/(loss) from investment (“-”
309,996.43 519,419.20
means loss)
Including: share of profits in
309,996.43 519,419.20
associates and joint ventures
Foreign exchange gains (“-” means
loss)
III. Business profit (“-” means loss) 1,979,627.71 37,243,086.06
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Report for the First Quarter of 2015 of Shenzhen Properties & Resources Development (Group) Ltd.
Add: non-operating income 472,015.31 369,039.53
Including: Gains on disposal of
non-current assets
Less: non-operating expense 431,724.89 10,041.61
Including: Losses on disposal of
2,775.00
non-current assets
IV. Total profit (“-” means loss) 2,019,918.13 37,602,083.98
Less: Income tax expense 1,663,553.21 9,876,642.47
V. Net profit (“-” means loss) 356,364.92 27,725,441.51
Net profit attributable to owners of
356,364.92 27,725,441.51
the Company
Minority shareholders’ income
VI. After-tax net amount of other
871,986.62 -415,062.63
comprehensive incomes
After-tax net amount of other
comprehensive incomes attributable to 871,986.62 -415,062.63
owners of the Company
(I) Other comprehensive incomes
that will not be reclassified into gains and
losses
1. Changes in net liabilities or
assets with a defined benefit plan upon
re-measurement
2. Enjoyable shares in other
comprehensive incomes in investees that
cannot be reclassified into gains and
losses under the equity method
(II) Other comprehensive incomes
that will be reclassified into gains and 871,986.62 -415,062.63
losses
1. Enjoyable shares in other
comprehensive incomes in investees that
will be reclassified into gains and losses
under the equity method
2. Gains and losses on fair
value changes of available-for-sale 1,064,250.00
financial assets
3. Gains and losses on
reclassifying held-to-maturity
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Report for the First Quarter of 2015 of Shenzhen Properties & Resources Development (Group) Ltd.
investments into available-for-sale
financial assets
4. Effective hedging gains and
losses on cash flows
5. Foreign-currency financial
-192,263.38 -415,062.63
statement translation difference
6. Other
After-tax net amount of other
comprehensive incomes attributable to
minority shareholders
VII. Total comprehensive incomes 1,228,351.54 27,310,378.88
Attributable to owners of the
1,228,351.54 27,310,378.88
Company
Attributable to minority
shareholders
VIII. Earnings per share
(I) Basic earnings per share 0.0006 0.0465
(II) Diluted earnings per share 0.0006 0.0465
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 XXX, with the corresponding amount for the same period of last year being RMB XXX.
Legal representative: Chen Yugang Person-in-charge of the accounting work: Wang Hangjun
Chief of the accounting division: Shen Xueying
4. Income statement of the Company
Unit: RMB Yuan
Item Jan.-Mar. 2015 Jan.-Mar. 2014
I. Total sales 14,915,009.50 12,230,762.00
Less: cost of sales 4,099,248.03 4,263,271.83
Business taxes and surcharges 2,330,846.39 1,698,362.81
Distribution expenses
Administrative expenses 10,495,132.76 9,175,383.85
Financial costs -1,470,236.90 -38,358.72
Impairment loss 92,383.07
Add: gain/(loss) from change in fair
value (“-” means loss)
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Report for the First Quarter of 2015 of Shenzhen Properties & Resources Development (Group) Ltd.
Gain/(loss) from investment (“-”
309,996.43 3,897,819.20
means loss)
Including: income form investment
309,996.43 519,419.20
on associates and joint ventures
II. Business profit (“-” means loss) -229,984.35 937,538.36
Add: non-operating income 11,021.20 27,030.61
Including: Gains on disposal of
non-current assets
Less: non-operating expense 300,949.26
Including: Losses on disposal of
non-current assets
III. Total profit (“-” means loss) -519,912.41 964,568.97
Less: Income tax expense -132,199.66
IV. Net profit (“-” means loss) -387,712.75 964,568.97
V. After-tax net amount of other
1,064,250.00
comprehensive incomes
(I) Other comprehensive incomes that
will not be reclassified into gains and
losses
1. Changes in net liabilities or
assets with a defined benefit plan upon
re-measurement
2. Enjoyable shares in other
comprehensive incomes in investees
that cannot be reclassified into gains
and losses under the equity method
(II) Other comprehensive incomes
that will be reclassified into gains and 1,064,250.00
losses
1. Enjoyable shares in other
comprehensive incomes in investees
that will be reclassified into gains and
losses under the equity method
2. Gains and losses on fair value
changes of available-for-sale financial 1,064,250.00
assets
3. Gains and losses on
reclassifying held-to-maturity
investments into available-for-sale
19
Report for the First Quarter of 2015 of Shenzhen Properties & Resources Development (Group) Ltd.
financial assets
4. Effective hedging gains and
losses on cash flows
5. Foreign-currency financial
statement translation difference
6. Other
VI. Total comprehensive incomes 676,537.25 964,568.97
VII. Earnings per share
(I) Basic earnings per share -0.0007 0.0016
(II) Diluted earnings per share -0.0007 0.0016
5. Consolidated cash flow statement
Unit: RMB Yuan
Item Jan.-Mar. 2015 Jan.-Mar. 2014
I. Cash flows from operating activities:
Cash received from sale of
162,154,708.13 214,711,207.68
commodities 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 financial
assets measured at fair value of which
changes are recorded into current gains
and losses
Cash received from interest,
handling charges and commissions
Net increase of intra-group
borrowings
20
Report for the First Quarter of 2015 of Shenzhen Properties & Resources Development (Group) Ltd.
Net increase of funds in repurchase
business
Tax refunds received
Other cash received relating to
6,275,176.45 5,748,576.80
operating activities
Subtotal of cash inflows from operating
168,429,884.58 220,459,784.48
activities
Cash paid for goods and services 170,577,537.78 130,670,702.37
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 75,841,569.79 62,076,065.42
Various taxes paid 31,961,378.98 38,825,818.53
Other cash payment relating to
19,683,773.86 22,380,664.01
operating activities
Subtotal of cash outflows from
298,064,260.41 253,953,250.33
operating activities
Net cash flows from operating
-129,634,375.83 -33,493,465.85
activities
II. Cash flows from investing activities:
Cash received from withdrawal of
investments
Cash received from return on
investments
Net cash received from disposal of
fixed assets, intangible assets and other 41,000.00 273,000.00
long-term assets
Net cash received from disposal of
subsidiaries or other business units
Other cash received relating to
investing activities
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Report for the First Quarter of 2015 of Shenzhen Properties & Resources Development (Group) Ltd.
Subtotal of cash inflows from investing
41,000.00 273,000.00
activities
Cash paid to acquire fixed assets,
intangible assets and other long-term 14,052,460.10 965,619.00
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
14,052,460.10 965,619.00
investing activities
Net cash flows from investing activities -14,011,460.10 -692,619.00
III. Cash Flows from Financing
Activities:
Cash received from capital
contributions
Including: Cash received from
minority shareholder investments by
subsidiaries
Cash received from borrowings 19,653,000.00
Cash received from issuance of
bonds
Other cash received relating to
financing activities
Subtotal of cash inflows from financing
19,653,000.00
activities
Repayment of borrowings 75,000,000.00 123,466,666.67
Cash paid for interest expenses and
3,309,309.66 7,182,970.97
distribution of dividends or profit
Including: dividends or profit paid
by subsidiaries to minority
shareholders
Other cash payments relating to
88,000.00
financing activities
Sub-total of cash outflows from
78,309,309.66 130,737,637.64
financing activities
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Report for the First Quarter of 2015 of Shenzhen Properties & Resources Development (Group) Ltd.
Net cash flows from financing
-58,656,309.66 -130,737,637.64
activities
IV. Effect of foreign exchange rate
190,404.05 405,049.24
changes on cash and cash equivalents
V. Net increase in cash and cash
-202,111,741.54 -164,518,673.25
equivalents
Add: Opening balance of cash and
808,963,376.68 977,171,814.20
cash equivalents
VI. Closing balance of cash and cash
606,851,635.14 812,653,140.95
equivalents
6. Cash flow statement of the Company
Unit: RMB Yuan
Item Jan.-Mar. 2015 Jan.-Mar. 2014
I. Cash flows from operating activities:
Cash received from sale of
13,539,030.00 11,794,372.00
commodities and rendering of service
Tax refunds received
Other cash received relating to
68,204,999.96 32,132,638.04
operating activities
Subtotal of cash inflows from operating
81,744,029.96 43,927,010.04
activities
Cash paid for goods and services 18,259,645.63 1,955,008.94
Cash paid to and for employees 3,939,084.93 3,653,091.62
Various taxes paid 11,479,164.15 2,608,644.61
Other cash payment relating to
168,636,796.74 561,398,481.06
operating activities
Subtotal of cash outflows from
202,314,691.45 569,615,226.23
operating activities
Net cash flows from operating
-120,570,661.49 -525,688,216.19
activities
II. Cash flows from investing activities:
Cash received from retraction of
280,000,000.00
investments
Cash received from return on
4,009,800.00
investments
Net cash received from disposal of
23
Report for the First Quarter of 2015 of Shenzhen Properties & Resources Development (Group) Ltd.
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
284,009,800.00
activities
Cash paid to acquire fixed assets,
intangible assets and other long-term 6,297.00 224,682.00
assets
Cash paid for investment
Net cash paid to acquire subsidiaries
and other business units
Other cash payments relating to
investing activities
Subtotal of cash outflows from
6,297.00 224,682.00
investing activities
Net cash flows from investing activities -6,297.00 283,785,118.00
III. Cash Flows from Financing
Activities:
Cash received from capital
contributions
Cash received from borrowings 19,653,000.00 260,000,000.00
Cash received from issuance of
bonds
Other cash received relating to
financing activities
Subtotal of cash inflows from financing
19,653,000.00 260,000,000.00
activities
Repayment of borrowings 120,000,000.00
Cash paid for interest expenses and
5,092,216.46 3,240,000.00
distribution of dividends or profit
Other cash payments relating to
88,000.00
financing activities
Sub-total of cash outflows from
5,092,216.46 123,328,000.00
financing activities
Net cash flows from financing 14,560,783.54 136,672,000.00
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Report for the First Quarter of 2015 of Shenzhen Properties & Resources Development (Group) Ltd.
activities
IV. Effect of foreign exchange rate
changes on cash and cash equivalents
V. Net increase in cash and cash
-106,016,174.95 -105,231,098.19
equivalents
Add: Opening balance of cash and
338,036,109.52 420,568,966.65
cash equivalents
VI. Closing balance of cash and cash
232,019,934.57 315,337,868.46
equivalents
II. Auditor’s report
Is this report audited?
□ Yes √ No
This report is not audited.
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