Report for the First Quarter of 2014 of Shenzhen Special Economic Zone Real Estate & Properties (Group) Co., Ltd.
Shenzhen Special Economic Zone Real Estate & Properties (Group)
Co., Ltd.
Report for the First Quarter of 2014
2014-013
Apr. 2014
1
Report for the First Quarter of 2014 of Shenzhen Special Economic Zone Real Estate & Properties (Group) Co., Ltd.
Section I. Important Reminders
The Board of Directors, the Supervisory Committee as well as all directors, supervisors and senior
management staff of Shenzhen Special Economic Zone Real Estate & Properties (Group) Co., Ltd.
(hereinafter referred to as “the Company”) warrant that 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.
All directors attended the board session for reviewing this report.
Zhou Jianguo, company principal, Chen Maozheng, GM, Tang Xiaoping, chief of the accounting
work, and Qiao Yanjun, chief of the accounting organ (chief of accounting), hereby confirm that the
financial statements enclosed in this report are factual, accurate and complete.
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 2014 of Shenzhen Special Economic Zone Real Estate & Properties (Group) Co., Ltd.
Section II. Financial Highlights & Change of Shareholders
I. Major accounting data and financial indexes
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. 2014 Jan.-Mar. 2013 YoY increase/decrease (%)
Operating revenues (RMB Yuan) 303,411,359.74 164,450,026.79 84.5%
Net profit attributable to shareholders of
22,025,565.57 3,508,651.86 527.75%
the Company (RMB Yuan)
Net profit attributable to shareholders of
the Company after extraordinary gains and 22,069,560.39 3,501,642.35 530.26%
losses (RMB Yuan)
Net cash flows from operating activities
147,785,842.22 270,776,251.76 -45.42%
(RMB Yuan)
Basic EPS (RMB Yuan/share) 0.0218 0.0035 522.86%
Diluted EPS (RMB Yuan/share) 0.0218 0.0035 522.86%
Weighted average ROE (%) 1.18% 0.21% 0.97%
31 Mar. 2014 31 Dec. 2013 Increase/decrease (%)
Total assets (RMB Yuan) 4,401,682,551.04 4,215,099,296.67 4.43%
Net assets attributable to shareholders of
1,884,962,381.83 1,863,347,135.33 1.16%
the Company (RMB Yuan)
Items and amounts of extraordinary gains and losses
√Applicable □Inapplicable
Unit: RMB Yuan
Item Amount as of Jan.-Mar. 2014 Note
Gains/losses on the disposal of non-current assets (including the
-94.00
offset part of asset impairment provisions)
Other non-operating income and expenses other than the above -57,365.75
Less: Income tax effects -13,464.93
Total -43,994.82 --
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
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Report for the First Quarter of 2014 of Shenzhen Special Economic Zone Real Estate & Properties (Group) Co., Ltd.
II. Total number of shareholders at the period-end and shares held by the top ten
shareholders
Unit: Share
Total number of shareholders at the
78,439
period-end
Shares held by the top ten shareholders
Shareholdi Pledged or frozen shares
Number of the
Nature of ng Number of the
Name of shareholder restricted shares Number of
shareholder percentage shares held Status of shares
held shares
(%)
Shenzhen Investment Holdings State-owned
63.55% 642,884,262
Ltd. legal person
Domestic
Xia Jiusheng 0.28% 2,874,565
natural person
GUOTAI JUNAN
Overseas legal
SECURITIES(HONGKONG) 0.18% 1,780,150
person
LIMITED
Domestic
Zhong Laiqun 0.12% 1,210,000
natural person
Domestic
Xu Qiang 0.12% 1,204,600
natural person
Overseas
Wu Haoyuan 0.11% 1,109,300
natural person
Domestic
Wang Zhongming 0.11% 1,095,808
natural person
Domestic
Wen Zhiping 0.1% 1,043,242
natural person
Domestic
Qian Dingqing 0.1% 1,000,000
natural person
Domestic
Qian Chao 0.09% 951,988
natural person
Shares held by the top ten non-restricted share holders
Type of shares
Name of shareholder Number of non-restricted shares held
Type Number
RMB ordinary
Shenzhen Investment Holdings Ltd. 642,884,262 642,884,262
shares
RMB ordinary
Xia Jiusheng 2,874,565 2,874,565
shares
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Report for the First Quarter of 2014 of Shenzhen Special Economic Zone Real Estate & Properties (Group) Co., Ltd.
Domestically
GUOTAI JUNAN
1,780,150 listed foreign 1,780,150
SECURITIES(HONGKONG) LIMITED
shares
RMB ordinary
Zhong Laiqun 1,210,000 1,210,000
shares
RMB ordinary
Xu Qiang 1,204,600 1,204,600
shares
Domestically
Wu Haoyuan 1,109,300 listed foreign 1,109,300
shares
Domestically
Wang Zhongming 1,095,808 listed foreign 1,095,808
shares
RMB ordinary
Wen Zhiping 1,043,242 1,043,242
shares
RMB ordinary
Qian Dingqing 1,000,000 1,000,000
shares
RMB ordinary
Qian Chao 951,988 951,988
shares
Explanation on associated relationship or
persons acting in concert among the Unknown
above-mentioned shareholders
Top 10 shareholders taking part in margin The top 10 shareholders accounts were the guarantee securities accounts of the custo
financing and securities lending (if any) mer credit transactions of Yintai Securities Co., Ltd.
Did any shareholder of the Company carry out an agreed buy-back in the reporting period?
□ Yes √ No
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Report for the First Quarter of 2014 of Shenzhen Special Economic Zone Real Estate & Properties (Group) Co., Ltd.
Section III. Significant Events
I. Significant changes of the major accounting statement items and financial indicators for the
reporting period, as well as the reasons for these changes
Operating revenues and operating costs for the reporting period stood at RMB 303.4114 million and
RMB 225.7772 million respectively, up 84.50% and 76.67% from the same period of last year,
which was mainly because the SPG Chuanqi Hill project carried over incomes and costs.
Business tax and surtaxes for the reporting period stood at RMB 22.5320 million, up 82.27% from
the same period of last year, which was mainly because the operating revenues increased and the
turnover tax increased accordingly.
Selling expenses for the reporting period stood at RMB 5.8455 million, up 52.14% from the same
period of last year, which was mainly because the marketing & promotion expenses and the agent
commissions increased.
Financial expenses for the reporting period stood at RMB 4.7363 million, increasing from the same
period of last year, which was mainly because the capitalized interest decreased.
Total profit for the reporting period stood at RMB 31.5815 million, up 392.14% from the same
period of last year; and net profit attributable to owners of the Company for the reporting period
stood at RMB 22.0256 million, up 527.75% from the same period of last year, which were mainly
because the operating revenues and the operating gross profit increased.
Net cash flows from operating activities for the reporting period stood at RMB 147.7858 million,
down 45.42% from the same period of last year, which was mainly because the cash received from
sale of goods and provision of service decreased 14.49% and the cash paid for goods and service
increased 3.19%.
Net cash flows from financing activities for the reporting period stood at RMB -86.3211 million, up
38.13% from the same period of last year, which was mainly because the bank loan repayments
decreased.
Other current assets at the end of the reporting period stood at RMB 15.7158 million, up 355.38%
from the opening amount, which was mainly because the pre-paid turnover tax increased.
Accounts received in advance at the end of the reporting period stood at RMB 583.7987 million, up
86.54% from the opening amount, which was mainly because the advances in sale of houses and
construction increased.
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Report for the First Quarter of 2014 of Shenzhen Special Economic Zone Real Estate & Properties (Group) Co., Ltd.
II. Progress and influence of significant events, as well as the analysis and explanation on
solutions
Naught
Website index for the disclosed relevant
Overview of the significant event Date of disclosure
interim report
III. Commitments made by the Company or shareholders holding over 5% of the Company’s
shares in the reporting period or such commitments carried down into the reporting period
Commitment Time of making Period of
Commitment Contents Fulfillment
maker commitment commitment
Commitment on share reform
Commitment in acquisition reports or
reports on equity changes
Commitments made upon the assets
reorganization
Commitments made upon IPO or
refinancing
Other commitments made to minority
shareholders
Executed in time or not? Yes
Detailed reason for failing to execute and
Naught
the next plan (if any)
IV. Predict the operating results of Jan.-Jun. 2014
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: interval data
Jan.-Jun. 2014 Jan.-Jun. 2013 +/- (%)
Predicted accumulative net
3,000 -- 3,500 1,305.03 Up 129.88% -- 168.19%
profit (RMB Ten thousand)
Basic EPS (RMB Yuan/share) 0.0297 -- 0.0346 0.0129 Up 130.23% -- 168.22%
Explanation about the
The sales of the SPG Chuanqi Hill Project of the Company normally carried forward.
predictions
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Report for the First Quarter of 2014 of Shenzhen Special Economic Zone Real Estate & Properties (Group) Co., Ltd.
V. Securities investment
Sharehold Sharehold
Initial Number Number Closing Gain/loss
ing ing
investmen of shares of shares book for report
Variety of Code of Name of percentag percentag Accounti Source of
t cost held at held at value period
securities securities securities e at e at ng title stock
(RMB period-be period-en (RMB (RMB
period-be period-en
Yuan) gin d Yuan) Yuan)
gin d
Total 0.00 0 -- 0 -- 0.00 0.00 -- --
Disclosure date of the board
announcement on approval of
the securities investment
Disclosure date of the general
meeting announcement on
approval of the securities
investment (if any)
Shareholdings in other listed companies
□Applicable √Inapplicable
VI. Derivative investments
Unit: RMB Ten Thousand Yuan
Proportio
n of the
closing
Actual
Related-p Type of Impairme investmen
Initial Opening Closing gain/loss
arty derivative Ending nt t amount
Operator Relation investmen Start date investmen investmen in
transactio investmen date provision in the
t amount t amount t amount reporting
n or not t (if any) Company
period
’s closing
net assets
(%)
Total 0 -- -- 0 0 0 0% 0
Capital source for derivative investment Naught
Litigation cases situation Naught
Disclosure date of the board announcement
approving the wealth management
entrustment
Disclosure date of the general meeting
announcement approving the wealth
management entrustment
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Report for the First Quarter of 2014 of Shenzhen Special Economic Zone Real Estate & Properties (Group) Co., Ltd.
Analysis on risks and control measures of
derivative products held in the reporting
period (including but not limited to market Naught
risk, liquidity risk, credit risk, operation
risk, law risk, etc.)
Changes of market prices or fair values in
the reporting period of the invested
derivatives. And the analysis on the fair
Naught
value of the derivatives should include the
specific use methods and the relevant
assumptions and parameters.
Whether significant changes occurred to
the Company’s accounting policy and
specific accounting principles of Naught
derivatives in the reporting period
compared to the previous reporting period
Special opinion from independent
directors, sponsor or financial consultant
Naught
on the Company’s derivatives investment
and risk control
VII. 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
Knew of the annual
operation situation,
situation of the
development progress of
Telephone the project and the
9 Jan. 2014 The office Individual Individual investor
Communication influences on the operation
of the Company caused by
the nation and the policies;
had not offer the written
sources.
Inquired of the appointed
disclosure date of annual
Telephone report and the sales
6 Mar. 2014 The office Individual Individual investor
Communication situation of Guangming and
Longgang; had not offer the
written sources.
9
Report for the First Quarter of 2014 of Shenzhen Special Economic Zone Real Estate & Properties (Group) Co., Ltd.
Section IV. Financial Statements
I. Financial statements
1. Consolidated balance sheet
Prepared by Shenzhen Special Economic Zone Real Estate & Properties (Group) Co., Ltd.
Unit: RMB Yuan
Item Closing balance Opening balance
Current Assets:
Monetary funds 586,693,067.95 525,374,372.44
Settlement reserves
Intra-group lendings
Transactional financial assets
Notes receivable
Accounts receivable 18,245,428.58 14,102,124.06
Accounts paid in advance 12,887,163.72 12,206,598.30
Premiums receivable
Reinsurance premiums receivable
Receivable reinsurance contract
reserves
Interest receivable
Dividend receivable 1,052,192.76 1,052,192.76
Other accounts receivable 59,196,954.77 54,672,501.81
Financial assets purchased under
0.00
agreements to resell
Inventories 3,078,500,935.66 2,967,935,589.04
Non-current assets due within 1 year
Other current assets 15,715,763.51 3,451,107.04
Total current assets 3,772,291,506.95 3,578,794,485.45
Non-current assets:
Loans by mandate and advances
granted
Available-for-sale financial assets
Held-to-maturity investments
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Report for the First Quarter of 2014 of Shenzhen Special Economic Zone Real Estate & Properties (Group) Co., Ltd.
Long-term accounts receivable
Long-term equity investment 75,200,652.59 75,200,652.59
Investing property 461,778,596.34 466,314,091.90
Fixed assets 58,529,049.25 60,715,687.71
Construction in progress
Engineering materials
Disposal of fixed assets
Production biological assets
Oil-gas assets
Intangible assets 6,615,481.80 6,753,566.79
R&D expense
Goodwill
Long-term deferred expenses 474,804.09 528,352.21
Deferred income tax assets 26,792,460.02 26,792,460.02
Other non-current assets
Total of non-current assets 629,391,044.09 636,304,811.22
Total assets 4,401,682,551.04 4,215,099,296.67
Current liabilities:
Short-term borrowings 23,000,000.00 23,000,000.00
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 346,177,985.24 389,345,271.46
Accounts received in advance 583,798,724.60 312,967,028.85
Financial assets sold for repurchase
Handling charges and commissions
payable
Employee’s compensation payable 31,030,647.30 37,159,445.41
Tax payable 155,570,719.12 148,006,651.37
Interest payable 16,735,277.94 18,482,515.18
Dividend payable
Other accounts payable 399,163,405.71 394,687,837.29
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Report for the First Quarter of 2014 of Shenzhen Special Economic Zone Real Estate & Properties (Group) Co., Ltd.
Reinsurance premiums payable
Insurance contract reserves
Payables for acting trading of
securities
Payables for acting underwriting of
securities
Non-current liabilities due within 1
346,101,860.53 331,482,489.72
year
Other current liabilities
Total current liabilities 1,901,578,620.44 1,655,131,239.28
Non-current liabilities:
Long-term borrowings 732,612,334.78 814,213,536.85
Bonds payable
Long-term payables 11,077,132.36 10,749,885.53
Specific payables
Estimated liabilities
Deferred income tax liabilities
Other non-current liabilities
Total non-current liabilities 743,689,467.14 824,963,422.38
Total liabilities 2,645,268,087.58 2,480,094,661.66
Owners’ equity (or shareholders’
equity)
Paid-up capital (or share capital) 1,011,660,000.00 1,011,660,000.00
Capital reserves 978,244,858.10 978,244,858.10
Less: Treasury stock
Specific reserves
Surplus reserves 4,974,391.15 4,974,391.15
Provisions for general risks
Retained profits -118,860,568.56 -140,886,134.13
Foreign exchange difference 8,943,701.14 9,354,020.21
Total equity attributable to owners of
1,884,962,381.83 1,863,347,135.33
the Company
Minority interests -128,547,918.37 -128,342,500.32
Total owners’ (or shareholders’) equity 1,756,414,463.46 1,735,004,635.01
Total liabilities and owners’ (or
4,401,682,551.04 4,215,099,296.67
shareholders’) equity
12
Report for the First Quarter of 2014 of Shenzhen Special Economic Zone Real Estate & Properties (Group) Co., Ltd.
Legal representative: Zhou Jianguo Person-in-charge of the accounting work: Tang Xiaoping
Chief of the accounting division: Qiao Yanjun
2. Balance sheet of the Company
Prepared by Shenzhen Special Economic Zone Real Estate & Properties (Group) Co., Ltd.
Unit: RMB Yuan
Item Closing balance Opening balance
Current Assets:
Monetary funds 322,988,646.06 362,953,152.47
Transactional financial assets
Notes receivable
Accounts receivable 4,863,423.99 4,359,289.23
Accounts paid in advance
Interest receivable
Dividend receivable
Other accounts receivable 675,619,469.10 669,806,773.71
Inventories 1,742,664,962.02 1,830,603,734.72
Non-current assets due within 1 year
Other current assets
Total current assets 2,746,136,501.17 2,867,722,950.13
Non-current assets:
Available-for-sale financial assets
Held-to-maturity investments
Long-term accounts receivable
Long-term equity investment 328,371,367.19 328,371,367.19
Investing property 403,267,849.20 407,900,089.95
Fixed assets 33,573,017.35 34,263,366.14
Construction in progress
Engineering materials
Disposal of fixed assets
Production biological assets
Oil-gas assets
Intangible assets 1,312,366.80 1,406,066.79
R&D expense
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Report for the First Quarter of 2014 of Shenzhen Special Economic Zone Real Estate & Properties (Group) Co., Ltd.
Goodwill
Long-term deferred expenses 118,793.40 132,925.95
Deferred income tax assets 3,230,636.28 3,230,636.28
Other non-current assets
Total of non-current assets 769,874,030.22 775,304,452.30
Total assets 3,516,010,531.39 3,643,027,402.43
Current liabilities:
Short-term borrowings
Transactional financial liabilities
Notes payable
Accounts payable 318,941,183.29 393,715,301.47
Accounts received in advance 65,637,513.00 82,398,193.00
Employee’s compensation payable 11,508,780.56 11,614,479.62
Tax payable 158,019,435.82 149,643,182.39
Interest payable 16,535,277.94 18,094,154.07
Dividend payable
Other accounts payable 649,144,267.21 648,978,988.66
Non-current liabilities due within 1
346,101,860.53 331,482,489.72
year
Other current liabilities
Total current liabilities 1,565,888,318.35 1,635,926,788.93
Non-current liabilities:
Long-term borrowings 499,622,982.55 581,224,184.62
Bonds payable
Long-term payables
Specific payables
Estimated liabilities
Deferred income tax liabilities
Other non-current liabilities
Total non-current liabilities 499,622,982.55 581,224,184.62
Total liabilities 2,065,511,300.90 2,217,150,973.55
Owners’ equity (or shareholders’
equity)
Paid-up capital (or share capital) 1,011,660,000.00 1,011,660,000.00
Capital reserves 978,244,858.10 978,244,858.10
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Report for the First Quarter of 2014 of Shenzhen Special Economic Zone Real Estate & Properties (Group) Co., Ltd.
Less: Treasury stock
Specific reserves
Surplus reserves
Provisions for general risks
Retained profits -539,405,627.61 -564,028,429.22
Foreign exchange difference
Total owners’ (or shareholders’) equity 1,450,499,230.49 1,425,876,428.88
Total liabilities and owners’ (or
3,516,010,531.39 3,643,027,402.43
shareholders’) equity
Legal representative: Zhou Jianguo Person-in-charge of the accounting work: Tang Xiaoping
Chief of the accounting division: Qiao Yanjun
3. Consolidated income statement
Prepared by Shenzhen Special Economic Zone Real Estate & Properties (Group) Co., Ltd.
Unit: RMB Yuan
Item Jan.-Mar. 2014 Jan.-Mar. 2013
I. Total operating revenues 303,411,359.74 164,450,026.79
Including: Sales income 303,411,359.74 164,450,026.79
Interest income
Premium income
Handling charge and
commission income
II. Total operating cost 271,772,373.18 158,041,116.08
Including: Cost of sales 225,777,212.75 127,798,763.77
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 22,531,989.99 12,362,162.94
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Report for the First Quarter of 2014 of Shenzhen Special Economic Zone Real Estate & Properties (Group) Co., Ltd.
Selling and distribution expenses 5,845,510.99 3,842,289.72
Administrative expenses 12,881,354.11 14,204,653.30
Financial expenses 4,736,305.34 -166,753.65
Asset impairment loss
Add: Gain/(loss) from change in fair
value (“-” means loss)
Gain/(loss) from investment (“-”
means loss)
Including: share of profits in associates
and joint ventures
Foreign exchange gains (“-” means
loss)
III. Business profit (“-” means loss) 31,638,986.56 6,408,910.71
Add: non-operating income 8,505.10 60,002.01
Less: non-operating expense 65,964.85 51,690.00
Including: loss from non-current asset
490.00
disposal
IV. Total profit (“-” means loss) 31,581,526.81 6,417,222.72
Less: Income tax expense 9,570,923.75 2,866,073.78
V. Net profit (“-” means loss) 22,010,603.06 3,551,148.94
Including: Net profit achieved by
combined parties before the 0.00 0.00
combinations
Attributable to owners of the
22,025,565.57 3,508,651.86
Company
Minority shareholders’ income -14,962.51 42,497.08
VI. Earnings per share -- --
(I) Basic earnings per share 0.0218 0.0035
(II) Diluted earnings per share 0.0218 0.0035
VII. Other comprehensive incomes -600,774.61 651,847.47
VIII. Total comprehensive incomes 21,409,828.45 4,202,996.41
Attributable to owners of the
21,615,246.50 3,929,393.59
Company
Attributable to minority
-205,418.05 273,602.82
shareholders
Legal representative: Zhou Jianguo Person-in-charge of the accounting work: Tang Xiaoping
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Report for the First Quarter of 2014 of Shenzhen Special Economic Zone Real Estate & Properties (Group) Co., Ltd.
Chief of the accounting division: Qiao Yanjun
4. Income statement of the Company
Prepared by Shenzhen Special Economic Zone Real Estate & Properties (Group) Co., Ltd.
Unit: RMB Yuan
Item Jan.-Mar. 2014 Jan.-Mar. 2013
I. Total sales 153,453,272.36 13,672,747.76
Less: cost of sales 95,091,577.71 5,315,662.69
Business taxes and surcharges 13,453,829.35 2,534,340.48
Distribution expenses 2,402,830.52 2,672,681.67
Administrative expenses 6,232,053.73 6,676,864.98
Financial costs 3,500,985.90 145,063.67
Impairment loss
Add: gain/(loss) from change in fair
value (“-” means loss)
Gain/(loss) from investment (“-” means
loss)
Including: income form investment on
associates and joint ventures
II. Business profit (“-” means loss) 32,771,995.15 -3,671,865.73
Add: non-business income 4,000.00 60,002.01
Less: non-business expense 18,000.00
Including: loss from non-current asset
disposal
III. Total profit (“-” means loss) 32,775,995.15 -3,629,863.72
Less: income tax expense 8,153,193.54
IV. Net profit (“-” means loss) 24,622,801.61 -3,629,863.72
V. Earnings per share -- --
(I) Basic earnings per share 0.0243 -0.0036
(II) Diluted earnings per share 0.0243 -0.0036
VI. Other comprehensive income
VII. Total comprehensive income 24,622,801.61 -3,629,863.72
Legal representative: Zhou Jianguo Person-in-charge of the accounting work: Tang Xiaoping
Chief of the accounting division: Qiao Yanjun
17
Report for the First Quarter of 2014 of Shenzhen Special Economic Zone Real Estate & Properties (Group) Co., Ltd.
5. Consolidated cash flow statement
Prepared by Shenzhen Special Economic Zone Real Estate & Properties (Group) Co., Ltd.
Unit: RMB Yuan
Item Jan.-Mar. 2014 Jan.-Mar. 2013
I. Cash flows from operating activities:
Cash received from sale of
536,867,934.15 627,871,867.98
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 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
55,124,854.67 41,732,492.96
operating activities
Subtotal of cash inflows from operating
591,992,788.82 669,604,360.94
activities
Cash paid for goods and services 313,312,730.53 303,618,068.17
Net increase of customer lendings
and advances
Net increase of funds deposited in the
central bank and amount due from
banks
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Report for the First Quarter of 2014 of Shenzhen Special Economic Zone Real Estate & Properties (Group) Co., Ltd.
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 33,019,280.01 31,113,894.74
Various taxes paid 37,159,568.11 26,454,731.30
Other cash payment relating to
60,715,367.95 37,641,414.97
operating activities
Subtotal of cash outflows from
444,206,946.60 398,828,109.18
operating activities
Net cash flows from operating activities 147,785,842.22 270,776,251.76
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 1,196.00
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
1,196.00
investing activities
Cash paid to acquire fixed assets,
intangible assets and other long-term 163,137.00 665,014.76
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
163,137.00 665,014.76
investing activities
Net cash flows from investing activities -161,941.00 -665,014.76
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Report for the First Quarter of 2014 of Shenzhen Special Economic Zone Real Estate & Properties (Group) Co., Ltd.
III. Cash Flows from Financing
Activities:
Cash received from capital
contributions
Including: Cash received from
minority shareholder investments by
subsidiaries
Cash received from borrowings
Cash received from issuance of
bonds
Other cash received relating to
2,500,000.00
financing activities
Subtotal of cash inflows from financing
2,500,000.00
activities
Repayment of borrowings 66,981,831.26 122,127,100.98
Cash paid for interest expenses and
19,339,225.39 19,892,153.55
distribution of dividends or profit
Including: dividends or profit paid
by subsidiaries to minority shareholders
Other cash payments relating to
financing activities
Sub-total of cash outflows from
86,321,056.65 142,019,254.53
financing activities
Net cash flows from financing activities -86,321,056.65 -139,519,254.53
IV. Effect of foreign exchange rate
65,850.94 -27,885.45
changes on cash and cash equivalents
V. Net increase in cash and cash
61,368,695.51 130,564,097.02
equivalents
Add: Opening balance of cash and
519,284,372.44 463,713,702.77
cash equivalents
VI. Closing balance of cash and cash
580,653,067.95 594,277,799.79
equivalents
Legal representative: Zhou Jianguo Person-in-charge of the accounting work: Tang Xiaoping
Chief of the accounting division: Qiao Yanjun
6. Cash flow statement of the Company
Prepared by Shenzhen Special Economic Zone Real Estate & Properties (Group) Co., Ltd.
20
Report for the First Quarter of 2014 of Shenzhen Special Economic Zone Real Estate & Properties (Group) Co., Ltd.
Unit: RMB Yuan
Item Jan.-Mar. 2014 Jan.-Mar. 2013
I. Cash flows from operating activities:
Cash received from sale of
136,354,777.19 438,428,405.24
commodities and rendering of service
Tax refunds received
Other cash received relating to
5,978,276.14 9,031,305.16
operating activities
Subtotal of cash inflows from operating
142,333,053.33 447,459,710.40
activities
Cash paid for goods and services 76,163,778.31 102,973,918.96
Cash paid to and for employees 8,583,597.00 7,211,617.13
Various taxes paid 13,770,871.34 9,287,497.80
Other cash payment relating to
1,820,565.59 14,589,887.19
operating activities
Subtotal of cash outflows from
100,338,812.24 134,062,921.08
operating activities
Net cash flows from operating activities 41,994,241.09 313,396,789.32
II. Cash flows from investing activities:
Cash received from retraction of
investments
Cash received from return on
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 activities
Cash paid to acquire fixed assets,
intangible assets and other long-term 14,296.00 589,298.76
assets
Cash paid for investment
Net cash paid to acquire subsidiaries
and other business units
21
Report for the First Quarter of 2014 of Shenzhen Special Economic Zone Real Estate & Properties (Group) Co., Ltd.
Other cash payments relating to
investing activities
Subtotal of cash outflows from
14,296.00 589,298.76
investing activities
Net cash flows from investing activities -14,296.00 -589,298.76
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
2,500,000.00
financing activities
Subtotal of cash inflows from financing
2,500,000.00
activities
Repayment of borrowings 66,981,831.26 112,127,100.98
Cash paid for interest expenses and
14,962,712.63 16,188,653.53
distribution of dividends or profit
Other cash payments relating to
financing activities
Sub-total of cash outflows from
81,944,543.89 128,315,754.51
financing activities
Net cash flows from financing activities -81,944,543.89 -125,815,754.51
IV. Effect of foreign exchange rate
92.39 -117.73
changes on cash and cash equivalents
V. Net increase in cash and cash
-39,964,506.41 186,991,618.32
equivalents
Add: Opening balance of cash and
362,953,152.47 190,825,250.83
cash equivalents
VI. Closing balance of cash and cash
322,988,646.06 377,816,869.15
equivalents
Legal representative: Zhou Jianguo Person-in-charge of the accounting work: Tang Xiaoping
Chief of the accounting division: Qiao Yanjun
22
Report for the First Quarter of 2014 of Shenzhen Special Economic Zone Real Estate & Properties (Group) Co., Ltd.
II. Audit report
Is this report audited?
□ Yes √ No
This report is not audited.
23