Report for the First Quarter of 2016 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 2016
2016-015
April 2016
1
Report for the First Quarter of 2016 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 2016 of Shenzhen Special Economic Zone Real Estate & Properties (Group) Co., Ltd.
Section II Financial Results and Changes in Shareholders
I Financial results
Whether the Company performed any retroactive adjustments to or restatement of its accounting data due to changes of accounting
policies or correction of accounting errors
□ Yes √ No
January-March 2016 January-March 2015 +/-%
Operating revenues (RMB) 332,573,819.86 321,122,572.61 3.57%
Net profit attributable to shareholders of
31,138,409.00 24,918,992.83 24.96%
the Company (RMB)
Net profit attributable to shareholders of
the Company after exceptional profit and 31,099,423.53 24,919,437.35 24.80%
loss (RMB)
Net operating cash flow (RMB) 127,807,035.61 -21,091,779.41 705.96%
Basic earnings per share (RMB/share) 0.0308 0.0246 25.20%
Diluted earnings per share (RMB/share) 0.0308 0.0246 25.20%
Weighted average return on equity (%) 1.33% 1.15% 0.18%
31 March 2016 31 December 2015 +/-%
Total assets (RMB) 4,272,846,237.73 4,179,937,120.75 2.22%
Net assets attributable to shareholders of
2,359,859,124.94 2,331,704,116.07 1.21%
the Company (RMB)
Exceptional profit and loss
√ Applicable □ Not applicable
Unit: RMB
Item January-March 2016 Note
Profit/loss on disposal of non-current assets (including offset
-335.00
amount of asset impairment provisions)
Non-operating income and expense other than the above 52,315.63
Less: Income tax effects 12,995.16
Total 38,985.47 --
Explain the reasons if the Company classifies an item as exceptional profit/loss according to the definition in the Explanatory
Announcement No. 1 on Information Disclosure for Companies Offering Their Securities to the Public—Exceptional Profit and Loss,
or classifies any exceptional profit/loss item mentioned in the said explanatory announcement as recurrent profit/loss
□ Applicable √ Not applicable
No such cases in the Reporting Period.
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Report for the First Quarter of 2016 of Shenzhen Special Economic Zone Real Estate & Properties (Group) Co., Ltd.
II Total number of shareholders at the period-end and shareholdings of top ten shareholders
1. Numbers of common shareholders and preference shareholders with resumed voting rights as well as
shareholdings of top ten shareholders
Unit: share
Total number of preference
Total number of common shareholders with resumed
79,287 0
shareholders at the period-end voting rights at the period-end
(if any)
Shareholdings of top ten shareholders
Shareholding Number of Pledged or frozen shares
Nature of Number of
Name of shareholder percentage restricted shares Status of Number of
shareholder shares held
(%) held shares shares
Shenzhen Investment Holdings State-owned
63.55% 642,884,262 0
Ltd. corporation
Shanjin Jinkong Capital Domestic
Management Co., Ltd.－Shanjin non-state-owned 0.69% 7,000,049 0
Jinkong Wenjian No. 1 Fund corporation
Domestic
Century Securities Co., Ltd. non-state-owned 0.38% 3,891,700 0
corporation
Domestic
Lu Zhigao 0.37% 3,717,349 0 Pledged 2,492,267
natural person
Domestic
Wen Xinfa 0.18% 1,856,900 0
natural person
Northern International Trust Co.,
Ltd. － Northern International Domestic
Trust Co., Ltd. Yingyang No. 5 non-state-owned 0.12% 1,215,752 0
Securities Investment Assembled corporation
Funds Trust
Domestic
Yang Shuilian 0.12% 1,176,600 0
natural person
Central Huijin Asset Management State-owned
0.12% 1,165,500 0
Co., Ltd. corporation
Domestic
Yang Jianxiong 0.11% 1,115,750 0
natural person
Foreign natural
Wu Haoyuan 0.11% 1,109,300 0
person
Shareholdings of top ten non-restricted shareholders
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Report for the First Quarter of 2016 of Shenzhen Special Economic Zone Real Estate & Properties (Group) Co., Ltd.
Variety of shares
Name of shareholder Number of non-restricted shares held
Variety Number
RMB common
Shenzhen Investment Holdings Ltd. 642,884,262
shares
Shanjin Jinkong Capital Management Co., Ltd.－ RMB common
7,000,049
Shanjin Jinkong Wenjian No. 1 Fund shares
RMB common
Century Securities Co., Ltd. 3,891,700
shares
RMB common
Lu Zhigao 3,717,349
shares
RMB common
Wen Xinfa 1,856,900
shares
Northern International Trust Co., Ltd.－Northern
RMB common
International Trust Co., Ltd. Yingyang No. 5 1,215,752
shares
Securities Investment Assembled Funds Trust
RMB common
Yang Shuilian 1,176,600
shares
RMB common
Central Huijin Asset Management Co., Ltd. 1,165,500
shares
Domestically
Yang Jianxiong 1,115,750 listed foreign
shares
Domestically
Wu Haoyuan 1,109,300 listed foreign
shares
It is unknown whether the tradable share holders above are related parties or
Explanation on associated relationship or persons
whether they are parties acting in concert as stipulated in the Administrative
acting in concert among the above-mentioned
Measures on Information Disclosure of Changes in Shareholding of Listed
shareholders
Companies.
Top ten non-restricted common shareholders Shareholders ranked in No. 4 held the shares by credit account. Shareholders
conducting securities margin trading (if any) ranked in No. 5 all held the shares by credit account.
Did any of the top ten common shareholders or the top ten 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 preference shareholders and shareholdings of the top ten of them
□ Applicable √ Not applicable
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Report for the First Quarter of 2016 of Shenzhen Special Economic Zone Real Estate & Properties (Group) Co., Ltd.
Section III Significant Events
I Changes in major accounting statement items and financial indicators for the Reporting
Period, as well as reasons for such changes
√ Applicable □ Not applicable
Operating revenues for the current period stood at RMB332.5738 million, up 3.57% year on year,
and net profit attributable to owners of the Company for the current period stood at RMB31.1384
million, up 24.96% 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 RMB2.6025 million, down 33.79% year on year,
mainly because the sales service charges and the agent commissions decreased.
Financial costs for the current period stood at RMB-1.7407 million, down 115.75% year on year,
mainly because the capitalized interest on real estate projects increased.
Investment profit for the current period stood at RMB689,000, up 96.86% year on year, mainly
because the bonuses on the available-for-sale financial assets held increased.
The after-tax net amount of other composite income for the current period stood at RMB-4.3081
million, down 856.38% year on year, mainly because the income from the foreign-currency
statement translation difference due to fluctuations in exchange rates decreased.
Net operating cash flow for the current period stood at RMB127.8070 million, up 705.96% year on
year, mainly because the cash received from sale of goods and provision of service (sale of houses
and provision of construction service) increased.
Net investment cash flow for the current period stood at RMB300,900, up 137.49% year on year,
mainly because the bonuses on the available-for-sale financial assets held increased.
Net financing cash flow for the current period stood at RMB-46.0948 million, up 40.96% year on
year, mainly because the repayments for principals and interest of loans decreased.
Net increase in cash and cash equivalents for the current period stood at RMB82.0476 million, up
182.10% year on year, mainly because the net operating cash flow increased.
Accounts paid in advance stood at RMB46.3509 million at the period-end, up 101.94% 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 RMB61.7555 million at the period-end, up 53.18% from the opening
amount, mainly because of the business tax and land VAT paid in advance in the current period.
Long-term deferred expenses stood at RMB2.3810 million at the period-end, up 498.82% from the
opening amount, mainly because of the newly-added expenses on the decoration of Petrel Hotel in
the current period.
Accounts payable stood at RMB187.2481 million at the period-end, down 35.53% from the opening
amount, mainly because the Company paid the balance payments for completed projects in the
current period.
Accounts received in advance stood at RMB707.7694 million at the period-end, up 48.81% from
the opening amount, mainly because the advances received for houses and construction service
increased.
Other composite income stood at RMB7.0802 million at the period-end, down 29.65% from the
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Report for the First Quarter of 2016 of Shenzhen Special Economic Zone Real Estate & Properties (Group) Co., Ltd.
opening amount, mainly because the income from the foreign-currency statement translation
difference due to fluctuations in exchange rates decreased.
II Progress of significant events and analysis & explanations on their influence and solutions
□ Applicable √ Not applicable
III Commitments of the Company, its shareholders, actual controller, acquirer, directors,
supervisors, senior management or other related parties fulfilled in the Reporting Period or
ongoing at the period-end
□Applicable √ Not applicable
No such cases in the Reporting Period.
IV Operating result forecast for January-June 2016
Forecast of a possible deficit or considerable YoY change in the accumulative net profit made during the period from the beginning
of the year to the end of the next reporting period, as well as explanation of why:
√ Applicable □ Not applicable
Forecast of operating results: Significant decrease in the same direction
Type of forecast data: Interval data
January-June
January-June 2016 +/-%
2015
Forecast accumulative net
8,500 -- 13,500 18,641 Decrease 54.40% -- 27.58%
profit (RMB’0,000)
Basic earnings per share
0.0840 -- 0.1334 0.1843 Decrease 54.42% -- 27.62%
(RMB /share)
The carried-forward sales income from real estate projects decreased from the same period of last
Explanation of the forecast
year.
V Securities investments
□ Applicable √ Not applicable
No such cases in the Reporting Period.
VI Investments in derivative financial instruments
□ Applicable √ Not applicable
No such cases in the Reporting Period.
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Report for the First Quarter of 2016 of Shenzhen Special Economic Zone Real Estate & Properties (Group) Co., Ltd.
VII Visits paid to the Company in the Reporting Period for purposes of research,
communication, interview, etc.
√ Applicable □ Not applicable
Date of visit Way of visit Type of visitor Index to main inquiry information
Inquired of the development progress of
the Company projects and numbers of
2016-01-29 Telephone Communication Individual
the shareholders of the Company; had
not offer the written sources.
Inquired of the disclosure time of the
annual report of the Company and
2016-03-09 Telephone Communication Individual development and sale of the Company
projects, had not offer the written
sources.
VIII Illegal provision of guarantees for external parties
□ Applicable √ Not applicable
No such cases in the Reporting Period.
IX Occupation of the Company’s funds by the controlling shareholder or its related parties
for non-operating purposes
□ Applicable √ Not applicable
No such cases in the Reporting Period.
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Report for the First Quarter of 2016 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
Item Closing balance Opening balance
Current assets:
Monetary funds 1,270,802,529.26 1,175,756,306.36
Settlement reserves
Lendings to banks and other financial
institutions
Financial assets measured at fair
value with fair value changes included
in the profit and loss for the Reporting
Period
Derivative financial assets
Notes receivable 21,740,208.37 18,663,872.02
Accounts receivable 88,077,560.89 112,543,908.66
Accounts paid in advance 46,350,862.42 22,952,379.40
Premiums receivable
Reinsurance premiums receivable
Receivable reinsurance contract
reserves
Interest receivable
Dividends receivable 1,052,192.76 1,052,192.76
Other accounts receivable 68,517,634.76 61,673,343.42
Financial assets purchased under
agreement to resell
Inventories 2,121,656,304.28 2,146,223,895.61
Assets held for sale
Non-current assets due within one
year
Other current assets 61,755,458.22 40,315,831.06
Total current assets 3,679,952,750.96 3,579,181,729.29
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Report for the First Quarter of 2016 of Shenzhen Special Economic Zone Real Estate & Properties (Group) Co., Ltd.
Non-current assets:
Loans and advances to customers
Available-for-sale financial assets 17,464,240.74 17,464,240.74
Held-to-maturity investments
Long-term accounts receivable
Long-term equity investments 57,768,804.36 57,768,804.36
Investment property 429,884,025.97 435,058,564.20
Fixed assets 48,350,576.48 52,213,985.31
Construction in progress
Engineering materials
Disposal of fixed assets
Productive living assets
Oil-gas assets
Intangible assets 5,527,635.00 5,654,820.00
R&D expense
Goodwill
Long-term deferred expenses 2,380,965.70 397,608.64
Deferred income tax assets 31,517,238.52 32,197,368.21
Other non-current assets
Total non-current assets 592,893,486.77 600,755,391.46
Total assets 4,272,846,237.73 4,179,937,120.75
Current liabilities:
Short-term borrowings 119,283,789.20 143,418,286.29
Borrowings from the Central Bank
Money deposits accepted and
inter-bank deposits
Loans from banks and other financial
institutions
Financial liabilities measured at fair
value with fair value changes included
in the profit and loss for the Reporting
Period
Derivative financial liabilities
Notes payable
Accounts payable 187,248,136.02 290,453,110.50
Accounts received in advance 707,769,392.60 475,620,347.35
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Report for the First Quarter of 2016 of Shenzhen Special Economic Zone Real Estate & Properties (Group) Co., Ltd.
Financial assets sold for repurchase
Handling charges and commissions
payable
Payroll payable 32,668,143.45 38,750,019.72
Taxes and fares payable 70,839,962.59 63,459,415.42
Interest payable 16,535,277.94 17,535,277.94
Dividends payable
Other accounts payable 384,869,451.52 385,811,304.33
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 one
156,839,092.54 168,727,608.54
year
Other current liabilities
Total current liabilities 1,676,053,245.86 1,583,775,370.09
Non-current liabilities:
Long-term borrowings 355,971,284.35 382,233,324.88
Bonds payable
Of which: Preference shares
Perpetual bonds
Long-term accounts payable 10,506,607.66 10,480,629.35
Long-term payroll payable
Special payables
Estimated liabilities
Deferred income
Deferred income tax liabilities
Other non-current liabilities
Total non-current liabilities 366,477,892.01 392,713,954.23
Total liabilities 2,042,531,137.87 1,976,489,324.32
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 2016 of Shenzhen Special Economic Zone Real Estate & Properties (Group) Co., Ltd.
Of which: Preference shares
Perpetual bonds
Capital reserves 978,244,910.11 978,244,910.11
Less: Treasury stock
Other composite income 7,080,191.48 10,063,591.61
Special reserves
Surplus reserves 40,823,841.35 40,823,841.35
Provisions for general risks
Retained profit 322,050,182.00 290,911,773.00
Total equity attributable to owners of
2,359,859,124.94 2,331,704,116.07
the Company
Minority interests -129,544,025.08 -128,256,319.64
Total owners’ equity 2,230,315,099.86 2,203,447,796.43
Total liabilities and owners’ equity 4,272,846,237.73 4,179,937,120.75
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
Item Closing balance Opening balance
Current Assets:
Monetary funds 929,216,816.16 858,492,165.42
Financial assets measured at fair
value of which changes are recorded in
current profits and losses
Derivative financial assets
Notes receivable
Accounts receivable 5,003,098.37 9,412,675.23
Accounts paid in advance 9,000,000.00
Interest receivable
Dividend receivable 140,763,284.58 140,763,284.58
Other accounts receivable 713,298,551.84 682,468,446.16
Inventories 842,835,476.83 892,015,463.86
Assets held for sale
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Report for the First Quarter of 2016 of Shenzhen Special Economic Zone Real Estate & Properties (Group) Co., Ltd.
Non-current assets due within 1 year
Other current assets 37,444,741.47 24,782,301.67
Total current assets 2,677,561,969.25 2,607,934,336.92
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 316,403,759.70 316,403,759.70
Investing real estate 374,711,238.68 379,377,363.53
Fixed assets 28,173,509.72 28,849,484.59
Construction in progress
Engineering materials
Disposal of fixed assets
Production biological assets
Oil-gas assets
Intangible assets 579,600.00 662,400.00
R&D expense
Goodwill
Long-term deferred expenses 341,702.46 377,908.74
Deferred income tax assets 5,717,550.76 5,717,550.76
Other non-current assets
Total of non-current assets 737,927,361.32 743,388,467.32
Total assets 3,415,489,330.57 3,351,322,804.24
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 35,055,139.37 69,300,670.37
Accounts received in advance 358,764,156.60 243,559,137.60
Payroll payable 13,551,839.27 13,579,802.91
Tax payable 42,605,565.12 37,099,690.34
Interest payable 16,535,277.94 17,535,277.94
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Report for the First Quarter of 2016 of Shenzhen Special Economic Zone Real Estate & Properties (Group) Co., Ltd.
Dividend payable
Other accounts payable 288,728,740.07 292,391,556.70
Liabilities held for sale
Non-current liabilities due within 1
156,839,092.54 168,727,608.54
year
Other current liabilities
Total current liabilities 912,079,810.91 842,193,744.40
Non-current liabilities:
Long-term borrowings 355,971,284.35 382,233,324.88
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 355,971,284.35 382,233,324.88
Total liabilities 1,268,051,095.26 1,224,427,069.28
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 17,694,227.94 17,694,227.94
Retained profits 139,839,097.26 119,296,596.91
Total owners’ equity 2,147,438,235.31 2,126,895,734.96
Total liabilities and owners’ equity 3,415,489,330.57 3,351,322,804.24
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Report for the First Quarter of 2016 of Shenzhen Special Economic Zone Real Estate & Properties (Group) Co., Ltd.
3. Consolidated income statement
Unit: RMB
Item January-March 2016 January-March 2015
I. Total operating revenues 332,573,819.86 321,122,572.61
Including: Sales income 332,573,819.86 321,122,572.61
Interest income
Premium income
Handling charge and commission
income
II. Total operating costs 291,880,778.81 287,412,923.52
Including: Cost of sales 256,347,948.80 233,417,326.59
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 22,904,132.21 26,693,670.85
Selling and distribution expenses 2,602,459.70 3,930,590.54
Administrative expenses 11,766,957.80 12,319,668.74
Financial expenses -1,740,719.70 11,051,666.80
Asset impairment loss
Add: Gain/(loss) from change in fair
value (“-” means loss)
Gain/(loss) from investment (“-”
689,000.00 350,000.00
means loss)
Including: share of profits in
associates and joint ventures
Foreign exchange gains (“-” means
loss)
III. Business profit (“-” means loss) 41,382,041.05 34,059,649.09
Add: non-operating income 100,191.21 47,272.31
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Report for the First Quarter of 2016 of Shenzhen Special Economic Zone Real Estate & Properties (Group) Co., Ltd.
Including: Gains on disposal of
non-current assets
Less: non-operating expense 48,210.58 47,865.00
Including: Losses on disposal of
335.00 215.00
non-current assets
IV. Total profit (“-” means loss) 41,434,021.68 34,059,056.40
Less: Income tax expense 10,258,603.13 9,097,210.14
V. Net profit (“-” means loss) 31,175,418.55 24,961,846.26
Net profit attributable to owners of
31,138,409.00 24,918,992.83
the Company
Minority shareholders’ income 37,009.55 42,853.43
VI. After-tax net amount of other
-4,308,115.12 -450,462.44
comprehensive incomes
After-tax net amount of other
comprehensive incomes attributable to -2,983,400.13 -330,270.84
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 -2,983,400.13 -330,270.84
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 2016 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
-2,983,400.13 -330,270.84
statement translation difference
6. Other
After-tax net amount of other
comprehensive incomes attributable to -1,324,714.99 -120,191.60
minority shareholders
VII. Total comprehensive incomes 26,867,303.43 24,511,383.82
Attributable to owners of the
28,155,008.87 24,588,721.99
Company
Attributable to minority
-1,287,705.44 -77,338.17
shareholders
VIII. Earnings per share
(I) Basic earnings per share 0.0308 0.0246
(II) Diluted earnings per share 0.0308 0.0246
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 RMB0.00, with the corresponding amount for the same period of last year being RMB0.00.
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
Item January-March 2016 January-March 2015
I. Total sales 102,235,267.63 108,057,040.29
Less: cost of sales 60,579,951.61 66,254,320.47
Business taxes and surcharges 10,080,103.29 10,114,439.24
Distribution expenses 1,374,782.92 2,672,110.98
Administrative expenses 5,867,146.22 5,707,473.26
Financial costs -2,105,327.23 223,399.49
Impairment loss
Add: gain/(loss) from change in fair
value (“-” means loss)
Gain/(loss) from investment (“-” 689,000.00 350,000.00
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Report for the First Quarter of 2016 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) 27,127,610.82 23,435,296.85
Add: non-operating income 48,516.00 30,000.00
Including: Gains on disposal of
non-current assets
Less: non-operating expense 19,500.00 30,000.00
Including: Losses on disposal of
non-current assets
III. Total profit (“-” means loss) 27,156,626.82 23,435,296.85
Less: Income tax expense 6,614,126.47 5,769,757.28
IV. Net profit (“-” means loss) 20,542,500.35 17,665,539.57
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 2016 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 20,542,500.35 17,665,539.57
VII. Earnings per share
(I) Basic earnings per share 0.0203 0.0175
(II) Diluted earnings per share 0.0203 0.0175
5. Consolidated cash flow statement
Unit: RMB
Item January-March 2016 January-March 2015
I. Cash flows from operating activities:
Cash received from sale of
590,586,568.40 427,573,237.56
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
Tax refunds received
19
Report for the First Quarter of 2016 of Shenzhen Special Economic Zone Real Estate & Properties (Group) Co., Ltd.
Other cash received relating to
18,825,466.97 91,119,449.03
operating activities
Subtotal of cash inflows from operating
609,412,035.37 518,692,686.59
activities
Cash paid for goods and services 356,662,303.76 365,271,932.86
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 35,667,883.58 33,897,048.42
Various taxes paid 39,994,554.81 48,271,497.86
Other cash payment relating to
49,280,257.61 92,343,986.86
operating activities
Subtotal of cash outflows from
481,604,999.76 539,784,466.00
operating activities
Net cash flows from operating
127,807,035.61 -21,091,779.41
activities
II. Cash flows from investing activities:
Cash received from withdrawal of
investments
Cash received from return on
689,000.00 350,000.00
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
689,000.00 350,000.00
activities
Cash paid to acquire fixed assets, 388,078.34 1,152,732.00
20
Report for the First Quarter of 2016 of Shenzhen Special Economic Zone Real Estate & Properties (Group) Co., Ltd.
intangible assets and other long-term
assets
Cash paid for investment
Net increase of pledged loans
Net cash paid to acquire subsidiaries
and other business units
Other cash payments relating to
investing activities
Subtotal of cash outflows from
388,078.34 1,152,732.00
investing activities
Net cash flows from investing activities 300,921.66 -802,732.00
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 38,150,556.53 62,587,865.92
Cash paid for interest expenses and
7,944,234.76 15,484,651.46
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
46,094,791.29 78,072,517.38
financing activities
Net cash flows from financing
-46,094,791.29 -78,072,517.38
activities
IV. Effect of foreign exchange rate 34,460.72 29,164.64
21
Report for the First Quarter of 2016 of Shenzhen Special Economic Zone Real Estate & Properties (Group) Co., Ltd.
changes on cash and cash equivalents
V. Net increase in cash and cash
82,047,626.70 -99,937,864.15
equivalents
Add: Opening balance of cash and
1,169,756,306.36 669,899,717.40
cash equivalents
VI. Closing balance of cash and cash
1,251,803,933.06 569,961,853.25
equivalents
6. Cash flow statement of the Company
Unit: RMB
Item January-March 2016 January-March 2015
I. Cash flows from operating activities:
Cash received from sale of
221,850,248.45 114,114,707.12
commodities and rendering of service
Tax refunds received
Other cash received relating to
10,582,340.01 4,955,193.57
operating activities
Subtotal of cash inflows from operating
232,432,588.46 119,069,900.69
activities
Cash paid for goods and services 48,782,972.69 58,998,482.22
Cash paid to and for employees 8,486,973.77 8,749,197.43
Various taxes paid 25,079,724.96 19,390,780.85
Other cash payment relating to
34,321,124.76 10,430,340.07
operating activities
Subtotal of cash outflows from
116,670,796.18 97,568,800.57
operating activities
Net cash flows from operating
115,761,792.28 21,501,100.12
activities
II. Cash flows from investing activities:
Cash received from retraction of
investments
Cash received from return on
689,000.00 350,000.00
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
22
Report for the First Quarter of 2016 of Shenzhen Special Economic Zone Real Estate & Properties (Group) Co., Ltd.
investing activities
Subtotal of cash inflows from investing
689,000.00 350,000.00
activities
Cash paid to acquire fixed assets,
intangible assets and other long-term 12,396.00 8,398.00
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
12,396.00 8,398.00
investing activities
Net cash flows from investing activities 676,604.00 341,602.00
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 38,150,556.53 62,587,865.92
Cash paid for interest expenses and
7,565,068.09 10,990,798.10
distribution of dividends or profit
Other cash payments relating to
financing activities
Sub-total of cash outflows from
45,715,624.62 73,578,664.02
financing activities
Net cash flows from financing
-45,715,624.62 -73,578,664.02
activities
IV. Effect of foreign exchange rate
1,879.08 8.31
changes on cash and cash equivalents
V. Net increase in cash and cash
70,724,650.74 -51,735,953.59
equivalents
23
Report for the First Quarter of 2016 of Shenzhen Special Economic Zone Real Estate & Properties (Group) Co., Ltd.
Add: Opening balance of cash and
852,492,165.42 326,170,340.34
cash equivalents
VI. Closing balance of cash and cash
923,216,816.16 274,434,386.75
equivalents
II. Auditor’s report
Is this Report audited?
□ Yes √ No
This Report is not audited.
24
