Report for the First Quarter of 2015 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 2015
2015-012
Apr. 2015
1
Report for the First Quarter of 2015 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 2015 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. 2015 Jan.-Mar. 2014 +/- (%)
Operating revenues (RMB Yuan) 321,122,572.61 303,411,359.74 5.84%
Net profit attributable to shareholders of
24,918,992.83 22,025,565.57 13.14%
the Company (RMB Yuan)
Net profit attributable to shareholders of
the Company after extraordinary gains and 24,919,437.35 22,069,560.39 12.91%
losses (RMB Yuan)
Net cash flows from operating activities
-21,091,779.41 147,785,842.22 -114.27%
(RMB Yuan)
Basic EPS (RMB Yuan/share) 0.0246 0.0218 12.84%
Diluted EPS (RMB Yuan/share) 0.0246 0.0218 12.84%
Weighted average ROE (%) 1.15% 1.18% -0.03%
31 Mar. 2015 31 Dec. 2014 +/- (%)
Total assets (RMB Yuan) 4,403,769,622.34 4,375,098,314.05 0.66%
Net assets attributable to shareholders of
2,186,126,123.77 2,161,537,401.78 1.14%
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
-215.00
offset part of asset impairment provisions)
Other non-operating income and expenses other than the above -377.69
Less: Income tax effects -148.17
Total -444.52 --
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 Special Economic Zone Real Estate & Properties (Group) Co., 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
64,087
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
State-owned legal
Investment 63.55% 642,884,262
person
Holdings Ltd.
Shenzhen Domestic
Tourism (Group) non-state-owned 2.73% 27,757,700
Co., Ltd. legal person
Domestic natural
Wen Jianjun 0.42% 4,300,000
person
Domestic natural
Wang Jinbo 0.32% 2,780,000
person
Domestic natural
He Qiao 0.22% 2,193,250
person
Domestic natural
Chen Qiang 0.22% 2,177,346
person
Domestic natural
Wang Lianzhong 0.20% 2,068,910
person
MORGAN
STANLEY &
Overseas natural
CO. 0.20% 2,014,470
person
INTERNATION
AL PLC
Domestic natural
Zhu Zheng 0.19% 1,962,200
person
Domestic natural
Shen Huailing 0.19% 1,939,900
person
Shareholdings of top 10 non-restricted common shareholders
Variety of shares
Name of shareholder Number of non-restricted common shares held
Variety Number
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Report for the First Quarter of 2015 of Shenzhen Special Economic Zone Real Estate & Properties (Group) Co., Ltd.
RMB ordinary
Shenzhen Investment Holdings Ltd. 642,884,262
shares
Shenzhen Tourism (Group) Co., RMB ordinary
27,757,700
Ltd. shares
RMB ordinary
Wen Jianjun 4,300,000
shares
RMB ordinary
Wang Jinbo 2,780,000
shares
RMB ordinary
He Qiao 2,193,250
shares
RMB ordinary
Chen Qiang 2,177,346
shares
RMB ordinary
Wang Lianzhong 2,068,910
shares
Domestically
MORGAN STANLEY & CO.
2,014,470 listed foreign
INTERNATIONAL PLC
shares
RMB ordinary
Zhu Zheng 1,962,200
shares
Domestically
Shen Huailing 1,939,900 listed foreign
shares
Explanation on associated
relationship or persons acting in
N/A
concert among the above-mentioned
shareholders
Top 10 common shareholders taking
Shareholders ranked in No. 5-No.7 as well as No. 9 had participated in the securities margin
part in securities margin trading (if
trading.
any)
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 Special Economic Zone Real Estate & Properties (Group) Co., 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
Operating revenues for the current period stood at RMB 321.1226 million, up 5.84% year on year;
total profits for the current period stood at RMB 34.0591 million, up 7.84% year on year; and net
profits attributable to owners of the Company (without subsidiaries) for the current period stood at
RMB 24.9190 million, up 13.14% year on year. These were mainly because the sales of the
Company’s real estate projects increased year on year.
Selling expenses for the current period stood at RMB 3.9306 million, down 32.76% year on year,
mainly because the marketing & promotion expenses and the agent commissions decreased.
Financial expenses for the current period stood at RMB 11.0517 million, up 133.34% year on year,
mainly because the capitalized interest decreased.
Investment gains for the current period stood at RMB 350,000, which were the bonuses on the
available-for-sale financial assets during the position-holding period.
Net cash flows from operating activities for the current period stood at RMB -21.0918 million,
down 114.27% year on year, mainly because the cash received from sale of goods and provision of
service decreased 20.36% and the cash paid for goods and service increased 16.58%.
Net cash flows from investing activities for the current period stood at RMB -802,700, representing
a year-on-year decrease, mainly because the cash paid to acquire and build fixed assets and other
long-term assets increased.
Accounts receivable stood at RMB 52.9541 million at the period-end, down 37.25% from the
opening amount, mainly because the house mortgages receivable decreased.
Prepayments stood at RMB 32.8874 million at the period-end, up 84.53% from the opening amount,
mainly because some prepayments for materials did not satisfy the conditions for carrying over to
inventories yet.
Other current assets stood at RMB 22.7361 million at the period-end, up 82.82% from the opening
amount, mainly because the pre-paid turnover tax increased.
Long-term deferred expenses stood at RMB 621,400 at the period-end, up 97.80% from the opening
amount, mainly because of the office decoration expenses.
Accounts received in advance stood at RMB 317.5290 million at the period-end, up 120.02% from
the opening amount, mainly because the advances in construction increased.
II. Progress and influence of significant events, as well as the analysis and explanation on
solutions
√ Applicable □ Inapplicable
In 2014, according to the government’s plan, the land plot ratio of the Land Plot of H312-0061 of
Donghu Dijing Mingyuan Project was reduced from 10.1 to 5.8, and the relevant formalities were
accomplished. For compensation, the first directly authority under Urban Planning Land and
Resources Commission of Shenzhen Municipality issued a document to replace the reduced area of
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Report for the First Quarter of 2015 of Shenzhen Special Economic Zone Real Estate & Properties (Group) Co., Ltd.
structure in the Land Plot of H312-0061 of Donghu Dijing Mingyuan Project with the statutory
plan’s No. 0.8-22 Land Plot [Jingtian District], and the relevant formalities are in progress.
Website index for the disclosed relevant
Overview of the significant event Date of disclosure
interim report
Adjustment to the land plot ratio of the
28 Feb. 2015 2014 Annual Report（www.cninfo.com.cn）
Donghu Dijing Mingyuan Project
III. Commitments made by the Company or shareholders holding over 5% of the Company’s
shares in the reporting period or such commitments made in previous periods but 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: interval data
Jan.-Jun.
Jan.-Jun. 2015 +/- (%)
2014
Predicted accumulative net
4,300 -- 5,200 3,473.24 Up 23.80% -- 49.72%
profit (RMB Ten thousand)
Basic EPS (RMB Yuan/share) 0.0425 -- 0.0514 0.0343 Up 23.91% -- 49.85%
Explanation about the The sales of the SPG Chuanqi Hill Project, Shanglin Garden project and Yuejing Orient Project of
predictions the Company normally carried forward.
V. Securities investments
□ Applicable √ Inapplicable
No such cases in the reporting period.
VI. Shareholdings in other listed companies
□ Applicable √ Inapplicable
No such cases in the reporting period.
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Report for the First Quarter of 2015 of Shenzhen Special Economic Zone Real Estate & Properties (Group) Co., Ltd.
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
Inquired of the development
progress of the Company
Telephone projects and numbers of the
22 Jan. 2015 The office Individual Individual investor
Communication shareholders of the
Company; had not offer the
written sources.
Inquired of the appointed
disclosure date of annual
Telephone report and numbers of the
16 Mar. 2015 The office Individual Individual investor
Communication shareholders of the
Company; had not offer the
written sources.
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Report for the First Quarter of 2015 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 579,014,384.88 678,957,249.03
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 129,162,913.55 119,846,192.64
Accounts receivable 52,954,063.03 84,388,842.43
Accounts paid in advance 32,887,359.60 17,821,748.23
Premiums receivable
Reinsurance premiums receivable
Receivable reinsurance contract
reserves
Interest receivable
Dividend receivable 1,052,192.76 1,052,192.76
Other accounts receivable 64,525,559.79 59,528,298.21
Financial assets purchased under
agreements to resell
Inventories 2,924,183,408.10 2,796,551,656.42
Assets held for sale
Non-current assets due within 1 year
Other current assets 22,736,147.60 12,436,024.40
Total current assets 3,806,516,029.31 3,770,582,204.12
Non-current assets:
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Report for the First Quarter of 2015 of Shenzhen Special Economic Zone Real Estate & Properties (Group) Co., Ltd.
Loans by mandate and advances
granted
Available-for-sale financial assets 17,464,240.74 17,464,240.74
Held-to-maturity investments
Long-term accounts receivable
Long-term equity investment 57,730,086.79 57,730,086.79
Investing real estate 449,540,265.38 454,628,505.97
Fixed assets 52,646,066.11 54,321,296.22
Construction in progress
Engineering materials
Disposal of fixed assets
Production biological assets
Oil-gas assets
Intangible assets 6,063,141.84 6,201,226.83
R&D expense
Goodwill
Long-term deferred expenses 621,421.36 314,159.41
Deferred income tax assets 13,188,370.81 13,856,593.97
Other non-current assets
Total of non-current assets 597,253,593.03 604,516,109.93
Total assets 4,403,769,622.34 4,375,098,314.05
Current liabilities:
Short-term borrowings 159,162,913.55 149,846,192.64
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 2,780,000.00 2,780,000.00
Accounts payable 426,905,623.06 541,538,762.36
Accounts received in advance 317,528,966.19 144,315,921.34
Financial assets sold for repurchase
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Report for the First Quarter of 2015 of Shenzhen Special Economic Zone Real Estate & Properties (Group) Co., Ltd.
Handling charges and commissions
payable
Payroll payable 32,566,710.85 38,068,842.03
Tax payable 96,659,484.06 96,394,993.67
Interest payable 16,947,350.17 18,716,395.18
Dividend payable
Other accounts payable 413,396,270.06 406,871,917.76
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
428,766,505.80 453,207,700.00
year
Other current liabilities
Total current liabilities 1,894,713,823.74 1,851,740,724.98
Non-current liabilities:
Long-term borrowings 440,838,908.23 478,985,579.95
Bonds payable
Of which: preferred shares
Perpetual bonds
Long-term payables 10,600,510.40 11,267,012.97
Long-term payroll payables
Specific payables
Estimated liabilities
Deferred income
Deferred income tax liabilities
Other non-current liabilities
Total non-current liabilities 451,439,418.63 490,252,592.92
Total liabilities 2,346,153,242.37 2,341,993,317.90
Owners’ equity:
Share capital 1,011,660,000.00 1,011,660,000.00
Other equity instruments
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Report for the First Quarter of 2015 of Shenzhen Special Economic Zone Real Estate & Properties (Group) Co., Ltd.
Of which: preferred shares
Perpetual bonds
Capital reserves 978,244,910.11 978,244,910.11
Less: Treasury stock
Other comprehensive income 9,180,647.32 9,510,918.16
Specific reserves
Surplus reserves 4,974,391.15 4,974,391.15
Provisions for general risks
Retained profits 182,066,175.19 157,147,182.36
Total equity attributable to owners of
2,186,126,123.77 2,161,537,401.78
the Company
Minority interests -128,509,743.80 -128,432,405.63
Total owners’ equity 2,057,616,379.97 2,033,104,996.15
Total liabilities and owners’ equity 4,403,769,622.34 4,375,098,314.05
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
Unit: RMB Yuan
Item Closing balance Opening balance
Current Assets:
Monetary funds 280,434,386.75 332,170,340.34
Financial assets measured at fair
value of which changes are recorded in
current profits and losses
Derivative financial assets
Notes receivable
Accounts receivable 39,258,629.32 39,403,575.24
Accounts paid in advance 76,500.00 69,000.00
Interest receivable
Dividend receivable
Other accounts receivable 689,259,601.31 675,944,666.16
Inventories 1,422,376,227.76 1,481,149,880.16
Assets held for sale
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Report for the First Quarter of 2015 of Shenzhen Special Economic Zone Real Estate & Properties (Group) Co., Ltd.
Non-current assets due within 1 year
Other current assets 6,151,114.07 7,961,089.71
Total current assets 2,437,556,459.21 2,536,698,551.61
Non-current assets:
Available-for-sale financial assets 12,000,000.00 12,000,000.00
Held-to-maturity investments
Long-term accounts receivable
Long-term equity investment 316,365,042.13 316,365,042.13
Investing real estate 393,374,628.56 398,040,383.57
Fixed assets 30,788,739.27 31,477,401.72
Construction in progress
Engineering materials
Disposal of fixed assets
Production biological assets
Oil-gas assets
Intangible assets 937,566.84 1,031,266.83
R&D expense
Goodwill
Long-term deferred expenses 423,073.20 76,395.75
Deferred income tax assets 850,769.96 850,769.96
Other non-current assets
Total of non-current assets 754,739,819.96 759,841,259.96
Total assets 3,192,296,279.17 3,296,539,811.57
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 169,098,858.90 225,934,147.53
Accounts received in advance 42,500,846.00 36,334,967.00
Payroll payable 13,355,437.99 13,613,754.45
Tax payable 49,034,338.48 48,212,677.31
Interest payable 16,535,277.94 18,328,034.07
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Report for the First Quarter of 2015 of Shenzhen Special Economic Zone Real Estate & Properties (Group) Co., Ltd.
Dividend payable
Other accounts payable 383,414,274.90 390,836,659.90
Liabilities held for sale
Non-current liabilities due within 1
228,766,505.80 253,207,700.00
year
Other current liabilities
Total current liabilities 902,705,540.01 986,467,940.26
Non-current liabilities:
Long-term borrowings 407,849,556.00 445,996,227.72
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
Other non-current liabilities
Total non-current liabilities 407,849,556.00 445,996,227.72
Total liabilities 1,310,555,096.01 1,432,464,167.98
Owners’ equity:
Share capital 1,011,660,000.00 1,011,660,000.00
Other equity instruments
Of which: preferred shares
Perpetual bonds
Capital reserves 978,244,910.11 978,244,910.11
Less: Treasury stock
Other comprehensive income
Specific reserves
Surplus reserves
Retained profits -108,163,726.95 -125,829,266.52
Total owners’ equity 1,881,741,183.16 1,864,075,643.59
Total liabilities and owners’ equity 3,192,296,279.17 3,296,539,811.57
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Report for the First Quarter of 2015 of Shenzhen Special Economic Zone Real Estate & Properties (Group) Co., Ltd.
3. Consolidated income statement
Unit: RMB Yuan
Item Jan.-Mar. 2015 Jan.-Mar. 2014
I. Total operating revenues 321,122,572.61 303,411,359.74
Including: Sales income 321,122,572.61 303,411,359.74
Interest income
Premium income
Handling charge and commission
income
II. Total operating costs 287,412,923.52 271,772,373.18
Including: Cost of sales 233,417,326.59 225,777,212.75
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 26,693,670.85 22,531,989.99
Selling and distribution expenses 3,930,590.54 5,845,510.99
Administrative expenses 12,319,668.74 12,881,354.11
Financial expenses 11,051,666.80 4,736,305.34
Asset impairment loss
Add: Gain/(loss) from change in fair
value (“-” means loss)
Gain/(loss) from investment (“-”
350,000.00
means loss)
Including: share of profits in
associates and joint ventures
Foreign exchange gains (“-” means
loss)
III. Business profit (“-” means loss) 34,059,649.09 31,638,986.56
Add: non-operating income 47,272.31 8,505.10
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Report for the First Quarter of 2015 of Shenzhen Special Economic Zone Real Estate & Properties (Group) Co., Ltd.
Including: Gains on disposal of
non-current assets
Less: non-operating expense 47,865.00 65,964.85
Including: Losses on disposal of
215.00 490.00
non-current assets
IV. Total profit (“-” means loss) 34,059,056.40 31,581,526.81
Less: Income tax expense 9,097,210.14 9,570,923.75
V. Net profit (“-” means loss) 24,961,846.26 22,010,603.06
Net profit attributable to owners of
24,918,992.83 22,025,565.57
the Company
Minority shareholders’ income 42,853.43 -14,962.51
VI. After-tax net amount of other
-450,462.44 -600,774.61
comprehensive incomes
After-tax net amount of other
comprehensive incomes attributable to -330,270.84 -410,319.07
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 -330,270.84 -410,319.07
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 assets
3. Gains and losses on
reclassifying held-to-maturity
investments into available-for-sale
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Report for the First Quarter of 2015 of Shenzhen Special Economic Zone Real Estate & Properties (Group) Co., Ltd.
financial assets
4. Effective hedging gains and
losses on cash flows
5. Foreign-currency financial
-330,270.84 -410,319.07
statement translation difference
6. Other
After-tax net amount of other
comprehensive incomes attributable to -120,191.60 -190,455.54
minority shareholders
VII. Total comprehensive incomes 24,511,383.82 21,409,828.45
Attributable to owners of the
24,588,721.99 21,615,246.50
Company
Attributable to minority
-77,338.17 -205,418.05
shareholders
VIII. Earnings per share
(I) Basic earnings per share 0.0246 0.0218
(II) Diluted earnings per share 0.0246 0.0218
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 0.00, with the corresponding amount for the same period of last year being RMB 0.00.
Legal representative: Zhou Jianguo Person-in-charge of the accounting work: Tang Xiaoping
Chief of the accounting division: Qiao Yanjun
4. Income statement of the Company
Unit: RMB Yuan
Item Jan.-Mar. 2015 Jan.-Mar. 2014
I. Total sales 108,057,040.29 153,453,272.36
Less: cost of sales 66,254,320.47 95,091,577.71
Business taxes and surcharges 10,114,439.24 13,453,829.35
Distribution expenses 2,672,110.98 2,402,830.52
Administrative expenses 5,707,473.26 6,232,053.73
Financial costs 223,399.49 3,500,985.90
Impairment loss
Add: gain/(loss) from change in fair
value (“-” means loss)
Gain/(loss) from investment (“-” 350,000.00
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Report for the First Quarter of 2015 of Shenzhen Special Economic Zone Real Estate & Properties (Group) Co., Ltd.
means loss)
Including: income form investment
on associates and joint ventures
II. Business profit (“-” means loss) 23,435,296.85 32,771,995.15
Add: non-operating income 30,000.00 4,000.00
Including: Gains on disposal of
non-current assets
Less: non-operating expense 30,000.00
Including: Losses on disposal of
non-current assets
III. Total profit (“-” means loss) 23,435,296.85 32,775,995.15
Less: Income tax expense 5,769,757.28 8,153,193.54
IV. Net profit (“-” means loss) 17,665,539.57 24,622,801.61
V. After-tax net amount of other
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
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
assets
3. Gains and losses on
reclassifying held-to-maturity
investments into available-for-sale
financial assets
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Report for the First Quarter of 2015 of Shenzhen Special Economic Zone Real Estate & Properties (Group) Co., Ltd.
4. Effective hedging gains and
losses on cash flows
5. Foreign-currency financial
statement translation difference
6. Other
VI. Total comprehensive incomes 17,665,539.57 24,622,801.61
VII. Earnings per share
(I) Basic earnings per share 0.0175 0.0243
(II) Diluted earnings per share 0.0175 0.0243
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
427,573,237.56 536,867,934.15
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
Net increase of funds in repurchase
business
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Report for the First Quarter of 2015 of Shenzhen Special Economic Zone Real Estate & Properties (Group) Co., Ltd.
Tax refunds received
Other cash received relating to
91,119,449.03 55,124,854.67
operating activities
Subtotal of cash inflows from operating
518,692,686.59 591,992,788.82
activities
Cash paid for goods and services 365,271,932.86 313,312,730.53
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 33,897,048.42 33,019,280.01
Various taxes paid 48,271,497.86 37,159,568.11
Other cash payment relating to
92,343,986.86 60,715,367.95
operating activities
Subtotal of cash outflows from
539,784,466.00 444,206,946.60
operating activities
Net cash flows from operating
-21,091,779.41 147,785,842.22
activities
II. Cash flows from investing activities:
Cash received from withdrawal of
investments
Cash received from return on
350,000.00
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 investing
350,000.00 1,196.00
activities
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Report for the First Quarter of 2015 of Shenzhen Special Economic Zone Real Estate & Properties (Group) Co., Ltd.
Cash paid to acquire fixed assets,
intangible assets and other long-term 1,152,732.00 163,137.00
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
1,152,732.00 163,137.00
investing activities
Net cash flows from investing activities -802,732.00 -161,941.00
III. Cash Flows from Financing
Activities:
Cash received from capital
contributions
Including: Cash received from
minority shareholder investments by
subsidiaries
Cash received from borrowings
Cash received from issuance of
bonds
Other cash received relating to
financing activities
Subtotal of cash inflows from financing
activities
Repayment of borrowings 62,587,865.92 66,981,831.26
Cash paid for interest expenses and
15,484,651.46 19,339,225.39
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
78,072,517.38 86,321,056.65
financing activities
Net cash flows from financing
-78,072,517.38 -86,321,056.65
activities
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Report for the First Quarter of 2015 of Shenzhen Special Economic Zone Real Estate & Properties (Group) Co., Ltd.
IV. Effect of foreign exchange rate
29,164.64 65,850.94
changes on cash and cash equivalents
V. Net increase in cash and cash
-99,937,864.15 61,368,695.51
equivalents
Add: Opening balance of cash and
669,899,717.40 519,284,372.44
cash equivalents
VI. Closing balance of cash and cash
569,961,853.25 580,653,067.95
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
114,114,707.12 136,354,777.19
commodities and rendering of service
Tax refunds received
Other cash received relating to
4,955,193.57 5,978,276.14
operating activities
Subtotal of cash inflows from operating
119,069,900.69 142,333,053.33
activities
Cash paid for goods and services 58,998,482.22 76,163,778.31
Cash paid to and for employees 8,749,197.43 8,583,597.00
Various taxes paid 19,390,780.85 13,770,871.34
Other cash payment relating to
10,430,340.07 1,820,565.59
operating activities
Subtotal of cash outflows from
97,568,800.57 100,338,812.24
operating activities
Net cash flows from operating
21,501,100.12 41,994,241.09
activities
II. Cash flows from investing activities:
Cash received from retraction of
investments
Cash received from return on
350,000.00
investments
Net cash received from disposal of
fixed assets, intangible assets and other
long-term assets
22
Report for the First Quarter of 2015 of Shenzhen Special Economic Zone Real Estate & Properties (Group) Co., Ltd.
Net cash received from disposal of
subsidiaries or other business units
Other cash received relating to
investing activities
Subtotal of cash inflows from investing
350,000.00
activities
Cash paid to acquire fixed assets,
intangible assets and other long-term 8,398.00 14,296.00
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
8,398.00 14,296.00
investing activities
Net cash flows from investing activities 341,602.00 -14,296.00
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
activities
Repayment of borrowings 62,587,865.92 66,981,831.26
Cash paid for interest expenses and
10,990,798.10 14,962,712.63
distribution of dividends or profit
Other cash payments relating to
financing activities
Sub-total of cash outflows from
73,578,664.02 81,944,543.89
financing activities
Net cash flows from financing
-73,578,664.02 -81,944,543.89
activities
IV. Effect of foreign exchange rate 8.31 92.39
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Report for the First Quarter of 2015 of Shenzhen Special Economic Zone Real Estate & Properties (Group) Co., Ltd.
changes on cash and cash equivalents
V. Net increase in cash and cash
-51,735,953.59 -39,964,506.41
equivalents
Add: Opening balance of cash and
326,170,340.34 362,953,152.47
cash equivalents
VI. Closing balance of cash and cash
274,434,386.75 322,988,646.06
equivalents
II. Auditor’s report
Is this report audited?
□ Yes √ No
This report is not audited.
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