ShenZhen Special Economic Zone Real Estate & Properties (Group) Co., Ltd. Third Quarterly Report 2020
SHENZHEN SPECIAL ECONOMIC ZONE REAL ESTATE
& PROPERTIES (GROUP) CO., LTD.
THIRD QUARTERLY REPORT 2020
2020-080
October 2020
1
ShenZhen Special Economic Zone Real Estate & Properties (Group) Co., Ltd. Third Quarterly Report 2020
Part I Important Notes
The Board of Directors (or the “Board”), the Supervisory Committee as well as the directors,
supervisors and senior management of Shenzhen Special Economic Zone Real Estate &
Properties (Group) Co., Ltd. (hereinafter referred to as the “Company”) hereby guarantee
that the contents of this Report and its summary are true, accurate and complete and free of
any misrepresentations, misleading statements or material omissions, and collectively and
individually accept legal responsibility for such contents.
All the Company’s directors have attended the Board meeting for the review of this Report
and its summary.
Liu Zhengyu, the Company’s legal representative, Tang Xiaoping, the Company’s head for
financial affairs, and Qiao Yanjun, head of the Company’s financial department (equivalent to
financial manager) hereby guarantee that the financial statements carried in this Report are
truthful, accurate and complete.
This Report and its summary have been prepared in both Chinese and English. Should there
be any discrepancies or misunderstandings between the two versions, the Chinese versions
shall prevail.
2
ShenZhen Special Economic Zone Real Estate & Properties (Group) Co., Ltd. Third Quarterly Report 2020
Part II Key Corporate Information
I Key Financial Information
Indicate by tick mark whether there is any retrospectively restated datum in the table below.
□ Yes √ No
30 September 2020 31 December 2019 Change (%)
Total assets (RMB) 4,685,440,082.68 4,909,669,536.09 -4.57%
Equity attributable to the listed
3,699,847,692.18 3,666,874,569.99 0.90%
company’s shareholders (RMB)
Q3 2020 YoY change (%) Q1-Q3 2020 YoY change (%)
Operating revenue (RMB) 621,402,307.38 -4.72% 1,217,660,802.78 -36.03%
Net profit attributable to the listed
101,565,292.91 -4.51% 198,840,278.63 -54.76%
company’s shareholders (RMB)
Net profit attributable to the listed
company’s shareholders before 101,225,798.44 -4.39% 197,824,111.61 -54.91%
exceptional gains and losses (RMB)
Net cash generated from/used in
309,652,617.04 -13.08% 97,409,818.45 -90.65%
operating activities (RMB)
Basic earnings per share (RMB/share) 0.1004 -4.47% 0.1965 -54.78%
Diluted earnings per share
0.1004 -4.47% 0.1965 -54.78%
(RMB/share)
Weighted average return on equity
2.76% -0.32% 5.40% -7.34%
(%)
Exceptional gains and losses:
√ Applicable □ Not applicable
Unit: RMB
Item Q1-Q3 2020 Note
Non-operating income and expense other than the above 1,354,889.36
Less: Income tax effects 338,722.34
Total 1,016,167.02 --
Explanation of why the Company reclassifies as recurrent an exceptional gain/loss item defined or listed in the Explanatory
Announcement No. 1 on Information Disclosure for Companies Offering Their Securities to the Public—Exceptional Gain/Loss
Items:
□ Applicable √ Not applicable
No such cases for the Reporting Period.
3
ShenZhen Special Economic Zone Real Estate & Properties (Group) Co., Ltd. Third Quarterly Report 2020
II Total Number of Shareholders and Holdings of Top 10 of Them as at the End of the
Reporting Period
1. Numbers of Ordinary Shareholders and Preference Shareholders with Resumed Voting Rights as well as
Holdings of Top 10 Shareholders
Unit: share
Number of preference
Number of ordinary shareholders 76,444 shareholders with resumed 0
voting rights (if any)
Top 10 shareholders
Nature of Shareholdin Total shares Restricted Shares in pledge or frozen
Name of shareholder
shareholder g percentage held shares held Status Shares
Shenzhen Investment Holdings Co., State-owned
63.55% 642,884,262
Ltd. corporation
Shandong Gold Financial Holding
Domestic
Capital Management Co., Ltd. －
non-state-owned 1.02% 10,300,000
Shandong Gold Financial Holding
corporation
Sustaining Fund 1
Domestic
Lu Zhigao 0.32% 3,246,949
individual
Domestic
Tan Shiqing 0.13% 1,286,701
individual
Domestic
Yang Shuilian 0.13% 1,273,700
individual
Domestic
Yang Jianxiong 0.12% 1,255,750
individual
Central Huijin Asset Management State-owned
0.12% 1,165,500
Co., Ltd. corporation
Domestic
Peng Wei 0.11% 1,129,082
individual
Wu Haoyuan Foreign individual 0.11% 1,109,300
Guotai Junan Securities (Hong Foreign
0.10% 1,015,683
Kong) Limited corporation
Top 10 unrestricted shareholders
Shares by class
Name of shareholder Unrestricted ordinary shares held
Class Shares
Shenzhen Investment Holdings Co., RMB-denominate
642,884,262 642,884,262
Ltd. d ordinary share
4
ShenZhen Special Economic Zone Real Estate & Properties (Group) Co., Ltd. Third Quarterly Report 2020
Shandong Gold Financial Holding
Capital Management Co., Ltd. － RMB-denominate
10,300,000 10,300,000
Shandong Gold Financial Holding d ordinary share
Sustaining Fund 1
RMB-denominate
Lu Zhigao 3,246,949 3,246,949
d ordinary share
RMB-denominate
Tan Shiqing 1,286,701 1,286,701
d ordinary share
RMB-denominate
Yang Shuilian 1,273,700 1,273,700
d ordinary share
Domestically
Yang Jianxiong 1,255,750 listed foreign 1,255,750
share
Central Huijin Asset Management RMB-denominate
1,165,500 1,165,500
Co., Ltd. d ordinary share
RMB-denominate
Peng Wei 1,129,082 1,129,082
d ordinary share
Domestically
Wu Haoyuan 1,109,300 listed foreign 1,109,300
share
Domestically
Guotai Junan Securities (Hong
1,015,683 listed foreign 1,015,683
Kong) Limited
share
The Company has found no related parties or acting-in-concert parties as defined in the
Related or acting-in-concert parties
Administrative Measures for Shareholding Changes in Listed Companies among the
among the shareholders above
shareholders above.
The fourth shareholder holds all his shares in the Company in his accounts of collateral
Top 10 shareholders engaged in
securities for margin trading. And the third shareholder holds some of his shares in the
securities margin trading (if any)
Company in such accounts.
Indicate by tick mark whether any of the top 10 ordinary shareholders or the top 10 unrestricted ordinary shareholders of the
Company conducted any promissory repo during the Reporting Period.
□ Yes √ No
No such cases in the Reporting Period.
2. Number of Preference Shareholders and Shareholdings of Top 10 of Them
□ Applicable √ Not applicable
5
ShenZhen Special Economic Zone Real Estate & Properties (Group) Co., Ltd. Third Quarterly Report 2020
Part III Significant Events
I Changes in Key Financial Statement Line Items and Explanation of why
√ Applicable □ Not applicable
Key income statement item Q1-Q3 2020 Q1-Q3 2019 Change (%) Reason for change
Operating revenue 1,217,660,802.78 1,903,499,558.55 -36.03% Decrease in property sales
Taxes and levies 256,360,411.16 582,491,558.12 -55.99% Decrease in tax provisions
Finance costs -6,794,077.29 -10,031,242.24 32.27% Decrease in interest income
Return on investment 15,816,818.60 13,914,978.88 13.67% Increase in income from structured
deposit
Key cash flow statement item Q1-Q3 2020 Q1-Q3 2019 Change (%) Reason for change
Net cash generated from/used in 97,409,818.45 1,041,915,679.29 -90.65% Decrease in inflow of property sales
operating activities
Net cash generated from/used in 1,020,818,810.32 -388,654,134.68 362.65% Changes in half-year structured bank
investing activities deposits purchased
Net cash generated from/used in -166,923,900.00 -204,332,000.00 18.31% Payment of annual dividends
financing activities
Key balance sheet statement 30 September 2020 31 December 2019 Change (%) Reason for change
Accounts payable 149,221,512.05 244,224,478.46 -38.90% Payment for engineering service
Advances from customers 11,124,703.84 159,482,510.43 -93.02% Reclassification of property pre-sale
revenue
Contract liabilities 193,873,098.62 0.00 - Increase in and reclassification of
property pre-sale revenue
Taxes and levies payable 380,181,091.08 585,700,815.36 -35.09% Payment of land value added tax
II Progress, Influence and Solutions in respect of Significant Events
√ Applicable □ Not applicable
Since the controlling shareholder of the Company is planning a significant event that involves the Company, upon the application to
the Shenzhen Stock Exchange, trading in the stocks of the Company (A-stock under the name of “SPG A” and the symbol of
“000029”; B-stock under the name of “SPG B” and the symbol of “200029”) was suspended starting from the opening of 14
September 2016. The Company disclosed the Announcement on Share Trading Suspension due to Planning of Significant Event (No.
2016-022), the Announcement on Continued Share Trading Suspension due to Planning of Significant Event (No. 2016-023) and the
Announcement on Continued Share Trading Suspension due to Planning of Significant Event (No. 2016-024) on 14 September 2016,
22 September 2016 and 29 September 2016, respectively. Upon ascertainment, the event constituted a material asset restructuring.
The Company disclosed the Announcement on Share Trading Suspension due to Planning of Major Assets Restructuring (No.
2016-025) on 30 September 2016 and the Announcement on Signing Cooperation Agreement on Restructuring and Listing (No.
2016-027) on 10 October 2016.
6
ShenZhen Special Economic Zone Real Estate & Properties (Group) Co., Ltd. Third Quarterly Report 2020
The Company convened the 33rd Meeting of the 7th Board of the Directors on 11 November 2016, which the Proposal on Continued
Share Trading Suspension due to Planning of Major Assets Restructuring was reviewed and approved. For details, see the
Announcement on Continued Share Trading Suspension after Expiration of Period of Share Trading Suspension due to Planning of
Major Assets Restructuring (No. 2016-039) disclosed on 14 November 2016.
The Company convened the 1st Extraordinary General Meeting of 2016 on 12 December 2016, on which the Proposal on Continued
Share Trading Suspension due to Planning of Major Assets Restructuring was reviewed and approved. For details, see the
Announcement on Application for Continued Share Trading Suspension after Expiration of Period of Share Trading Suspension due
to Planning of Major Assets Restructuring (No. 2016-047) disclosed on 13 December 2016.
The Company held an online illustration meeting to investors on 10 March 2017, communicating this major assets restructuring with
them and answering questions that they were generally concerned about with the information allowed to be disclosed. For details, see
the Announcement on Online Illustration Meeting to Investors (No. 2017-012) disclosed on 11 March 2017.
On 14 December 2019, the Company disclosed the Announcement on Signing the Supplementary Agreement VI of the Cooperation
Agreement governing Restructuring and Listing (No. 2019-090), which extends the exclusivity period and validity period stipulated
in the restructuring cooperation agreement to 31 December 2020.
To ensure the smooth progress of this major assets restructuring, prevent abnormal fluctuations in the prices of its stocks and protect the
rights and interests of its non-controlling interests, the Company has applied to the Shenzhen Stock Exchange for continued share
trading suspension for no more than 1 month as of 14 October 2020 and expects to disclose the major assets restructuring plan or report
according to the requirements of the Standards for the Contents and Formats of Information Disclosure by Companies Offering
Securities to the Public No. 26-Major Assets Restructuring of Listed Companies prior to 14 November 2020. For details, see the
Announcement on Delay of Share Trading Resumption of Planning of Major Assets Restructuring (No. 2020-074) disclosed on 14
October 2020.
During the share trading suspension period, the Company shall disclose the progress of this major assets restructuring at least every
five trading days in strict accordance with the requirements of applicable laws and regulations. At present, this major assets
restructuring is proceeding smoothly.
This major assets restructuring is subject to great uncertainty. Therefore, investors are kindly reminded to pay attention to possible
investment risk.
Summary of the significant event Date of disclosure Index to disclosure
Announcement on Delay of Share Trading
Delay of Share Trading Resumption of
14 October 2020 Resumption of Planning of Major Assets
Planning of Major Assets Restructuring
Restructuring on www.cninfo.com.cn
Progress of any share repurchase:
□ Applicable √ Not applicable
Progress of any reduction of the repurchased shares through centralized bidding:
□ Applicable √ Not applicable
III Commitments that the Company’s Actual Controller, Shareholders, Related Parties,
Acquirers, the Company Itself or Other Relevant Parties, Failed to Fulfill on Time during the
Reporting Period
□ Applicable √ Not applicable
No such cases in the Reporting Period.
7
ShenZhen Special Economic Zone Real Estate & Properties (Group) Co., Ltd. Third Quarterly Report 2020
IV Financial Investments
1. Securities Investments
□ Applicable √ Not applicable
No such cases in the Reporting Period.
2. Investments in Derivative Financial Instruments
□ Applicable √ Not applicable
No such cases in the Reporting Period.
V Progress of Projects Financed with Raised Funds
□ Applicable √ Not applicable
VI 2020 Annual Operating Performance Forecast
Warning of a forecast loss on or a forecast significant year-on-year change in the 2020 annual net profit, as well as explanation of
why:
√ Applicable □ Not applicable
Performance forecast: Decrease in net profit
Type of forecast data: Interval data
January-Dece
January-December 2020 Change (%)
mber 2019
Predicted annual net profit
26,000 -- 30,000 50,350 Down -48.36% -- -40.42%
(RMB’0,000)
Basic earnings per share
0.2570 -- 0.2965 0.4977 Down -48.36% -- -40.42%
(RMB /share)
Note The sales carryforwards of the Company’s real estate decreased year on year.
VII Significant Contracts Arising from the Company’s Ordinary Course of Business
□ Applicable √ Not applicable
VIII Cash Entrusted for Wealth Management
□ Applicable √ Not applicable
No such cases in the Reporting Period.
IX Irregularities in the Provision of Guarantees
□ Applicable √ Not applicable
8
ShenZhen Special Economic Zone Real Estate & Properties (Group) Co., Ltd. Third Quarterly Report 2020
No such cases in the Reporting Period.
X Occupation of the Company’s Capital by the Controlling Shareholder or any of Its Related
Parties for Non-Operating Purposes
□ Applicable √ Not applicable
No such cases in the Reporting Period.
XI Communications with the Investment Community such as Researches, Inquiries and
Interviews Received during the Reporting Period
√ Applicable □ Not applicable
Index to main
Place of Way of Type of
Date of Communicatio Main contents communicated and information
communicat communic communic
communication n party materials provided communicate
ion ation ation party
d
Inquired of the progress of assets
The
Individual restructuring and the expected time for
1 July 2020 Company’s By phone Individual N/A
investor resumption of trading in the Company’s
office
shares, and didn’t offer written materials
The Inquired of the progress of assets
Individual
2 July 2020 Company’s By phone Individual restructuring, and didn’t offer written N/A
investor
office materials
Inquired of the progress of assets
restructuring, the reason for long-time
The
Individual suspension of trading in the Company’s
6 July 2020 Company’s By phone Individual N/A
investor shares and the expected time for
office
resumption of trading in the Company’s
shares, and didn’t offer written materials
Inquired of the progress of assets
The
Individual restructuring and the estimated disclosed
9 July 2020 Company’s By phone Individual N/A
investor time of third quarter report, and didn’t
office
offer written materials
Inquired of the progress of assets
The
Individual restructuring and the time for resumption
15 July 2020 Company’s By phone Individual N/A
investor of trading in the Company’s shares, and
office
didn’t offer written materials
Inquired of the progress of assets
The
Individual restructuring and projects in development,
23 July 2020 Company’s By phone Individual N/A
investor sales and operation, and didn’t offer
office
written materials
6 August 2020 The By phone Individual Individual Inquired of the progress of assets N/A
9
ShenZhen Special Economic Zone Real Estate & Properties (Group) Co., Ltd. Third Quarterly Report 2020
Company’s investor restructuring and fundamentals, and didn’t
office offer written materials
Inquired of the progress of assets
The
Individual restructuring and the expected time for
12 August 2020 Company’s By phone Individual N/A
investor resumption of trading in the Company’s
office
shares, and didn’t offer written materials
The Inquired of the progress of assets
Individual
18 August 2020 Company’s By phone Individual restructuring and schedule, and didn’t N/A
investor
office offer written materials
Inquired of the progress of assets
The
Individual restructuring and the expected time for
26 August 2020 Company’s By phone Individual N/A
investor resumption of trading in the Company’s
office
shares, and didn’t offer written materials
The Inquired of the progress of assets
Individual
7 September 2020 Company’s By phone Individual restructuring and fundamentals, and didn’t N/A
investor
office offer written materials
The Inquired of the progress of assets
Individual
11 September 2020 Company’s By phone Individual restructuring, and didn’t offer written N/A
investor
office materials
Inquired of the progress of assets
The
Individual restructuring and the time for resumption
14 September 2020 Company’s By phone Individual N/A
investor of trading in the Company’s shares, and
office
didn’t offer written materials
Inquired of the progress of assets
The
Individual restructuring and the estimated disclosed
15 September 2020 Company’s By phone Individual N/A
investor time of third quarter report, and didn’t
office
offer written materials
Inquired of the progress of assets
The
Individual restructuring and the reason for long-time
21 September 2020 Company’s By phone Individual N/A
investor suspension of trading in the Company’s
office
shares, and didn’t offer written materials
Inquired of the progress of assets
The
Written Individual restructuring and the time for resumption
22 September 2020 Company’s Individual N/A
inquiry investor of trading in the Company’s shares, and
office
didn’t offer written materials
Inquired of the progress of assets
The
Individual restructuring, schedule and operation of
24 September 2020 Company’s By phone Individual N/A
investor the Company in Q3, and didn’t offer
office
written materials
The Individual Inquired of the progress of assets
25 September 2020 By phone Individual N/A
Company’s investor restructuring and the reason for long-time
10
ShenZhen Special Economic Zone Real Estate & Properties (Group) Co., Ltd. Third Quarterly Report 2020
office suspension of trading in the Company’s
shares, and didn’t offer written materials
Inquired of the progress of assets
The
Individual restructuring and the time for resumption
28 September 2020 Company’s By phone Individual N/A
investor of trading in the Company’s shares, and
office
didn’t offer written materials
Inquired of the progress of assets
The
Individual restructuring and the reason for long-time
30 September 2020 Company’s By phone Individual N/A
investor suspension of trading in the Company’s
office
shares, and didn’t offer written materials
11
ShenZhen Special Economic Zone Real Estate & Properties (Group) Co., Ltd. Third Quarterly Report 2020
Part IV Financial Statements
I Financial Statements
1. Consolidated Balance Sheet
Prepared by ShenZhen Special Economic Zone Real Estate & Properties (Group) Co., Ltd.
30 September 2020
Unit: RMB
Item 30 September 2020 31 December 2019
Current assets:
Monetary assets 2,458,128,296.87 2,511,140,445.35
Settlement reserve
Loans to other banks and financial institutions
Held-for-trading financial assets
Derivative financial assets
Notes receivable 2,030,659.99
Accounts receivable 56,284,285.65 62,059,055.68
Receivables financing
Prepayments 4,487,045.29 219,948.17
Premiums receivable
Reinsurance receivables
Receivable reinsurance contract reserve
Other receivables 19,610,283.20 28,275,228.26
Including: Interest receivable
Dividends receivable 1,052,192.76 1,052,192.76
Financial assets purchased under resale agreements
Inventories 1,320,560,992.83 1,462,229,048.18
Contract assets
Assets held for sale
Current portion of non-current assets
Other current assets 110,868,656.96 102,781,855.48
Total current assets 3,971,970,220.79 4,166,705,581.12
Non-current assets:
12
ShenZhen Special Economic Zone Real Estate & Properties (Group) Co., Ltd. Third Quarterly Report 2020
Loans and advances to customers
Debt investments
Other debt investments
Long-term receivables
Long-term equity investments 469,838.65 469,838.65
Investments in other equity instruments 32,982,168.63 33,126,730.04
Other non-current financial assets
Investment property 612,563,096.08 632,241,900.20
Fixed assets 28,238,158.37 30,522,035.11
Construction in progress
Productive living assets
Oil and gas assets
Right-of-use assets
Intangible assets
Development costs
Goodwill
Long-term prepaid expense 99,677.67 162,125.72
Deferred income tax assets 39,116,922.49 46,441,325.25
Other non-current assets
Total non-current assets 713,469,861.89 742,963,954.97
Total assets 4,685,440,082.68 4,909,669,536.09
Current liabilities:
Short-term borrowings 52,803,822.61 51,647,260.17
Borrowings from the central bank
Loans from other banks and financial institutions
Held-for-trading financial liabilities
Derivative financial liabilities
Notes payable
Accounts payable 149,221,512.05 244,224,478.46
Advances from customers 11,124,703.84 159,482,510.43
Contract liabilities 193,873,098.62
Financial assets sold under repurchase agreements
Customer deposits and deposits from other banks and
financial institutions
Payables for acting trading of securities
13
ShenZhen Special Economic Zone Real Estate & Properties (Group) Co., Ltd. Third Quarterly Report 2020
Payables for underwriting of securities
Employee benefits payable 43,927,032.27 53,909,576.49
Taxes and levies payable 380,181,091.08 585,700,815.36
Other payables 287,813,649.84 277,319,174.53
Including: Interest payable 16,535,277.94 16,535,277.94
Dividends payable
Fees and commissions payable
Reinsurance payables
Liabilities directly associated with assets held for sale
Current portion of non-current liabilities
Other current liabilities
Total current liabilities 1,118,944,910.31 1,372,283,815.44
Non-current liabilities:
Insurance contract reserve
Long-term borrowings
Bonds payable
Including: Preference shares
Perpetual bonds
Lease liabilities
Long-term payables 8,166,639.00 7,499,192.92
Long-term employee benefits payable
Provisions
Deferred income
Deferred income tax liabilities 4,903,293.58
Other non-current liabilities
Total non-current liabilities 8,166,639.00 12,402,486.50
Total liabilities 1,127,111,549.31 1,384,686,301.94
Owners’ equity:
Share capital 1,011,660,000.00 1,011,660,000.00
Other equity instruments
Including: Preference shares
Perpetual bonds
Capital reserves 978,244,910.11 978,244,910.11
Less: Treasury stock
14
ShenZhen Special Economic Zone Real Estate & Properties (Group) Co., Ltd. Third Quarterly Report 2020
Other comprehensive income 21,887,747.69 20,831,004.13
Specific reserve
Surplus reserves 191,222,838.94 191,222,838.94
General reserve
Retained earnings 1,496,832,195.44 1,464,915,816.81
Total equity attributable to owners of the Company as the
3,699,847,692.18 3,666,874,569.99
parent
Non-controlling interests -141,519,158.81 -141,891,335.84
Total owners’ equity 3,558,328,533.37 3,524,983,234.15
Total liabilities and owners’ equity 4,685,440,082.68 4,909,669,536.09
Legal representative: Liu Zhengyu The person in charge of accounting affairs: Tang Xiaoping
The head of the accounting department: Qiao Yanjun
2. Balance Sheet of the Company as the Parent
Unit: RMB
Item 30 September 2020 31 December 2019
Current assets:
Monetary assets 2,135,977,794.80 1,967,688,122.55
Held-for-trading financial assets
Derivative financial assets
Notes receivable
Accounts receivable 116,211.00 156,935.84
Receivables financing
Prepayments 200,000.00 200,000.00
Other receivables 1,122,004,948.27 835,275,498.69
Including: Interest receivable
Dividends receivable
Inventories 257,056,729.80 419,453,091.86
Contract assets
Assets held for sale
Current portion of non-current assets
Other current assets 392,731.02 407,560.64
Total current assets 3,515,748,414.89 3,223,181,209.58
Non-current assets:
15
ShenZhen Special Economic Zone Real Estate & Properties (Group) Co., Ltd. Third Quarterly Report 2020
Debt investments
Other debt investments
Long-term receivables
Long-term equity investments 150,676,516.92 150,676,516.92
Investments in other equity instruments 13,208,853.16 13,229,501.03
Other non-current financial assets
Investment property 504,868,848.29 522,038,731.16
Fixed assets 17,737,415.45 19,586,720.47
Construction in progress
Productive living assets
Oil and gas assets
Right-of-use assets
Intangible assets
Development costs
Goodwill
Long-term prepaid expense
Deferred income tax assets 85,566.25 162,125.72
Other non-current assets 20,975,294.54 20,975,294.54
Total non-current assets 707,552,494.61 726,668,889.84
Total assets 4,223,300,909.50 3,949,850,099.42
Current liabilities:
Short-term borrowings
Held-for-trading financial liabilities
Derivative financial liabilities
Notes payable
Accounts payable 88,221,788.01 103,915,931.14
Advances from customers 59,409,454.38
Contract liabilities 99,731,251.79
Employee benefits payable 23,516,220.26 25,544,403.23
Taxes and levies payable 351,846,264.82 143,434,273.95
Other payables 212,922,534.04 190,666,487.82
Including: Interest payable 16,535,277.94 16,535,277.94
Dividends payable
Liabilities directly associated with assets held for sale
16
ShenZhen Special Economic Zone Real Estate & Properties (Group) Co., Ltd. Third Quarterly Report 2020
Current portion of non-current liabilities
Other current liabilities
Total current liabilities 776,238,058.92 522,970,550.52
Non-current liabilities:
Long-term borrowings
Bonds payable
Including: Preference shares
Perpetual bonds
Lease liabilities
Long-term payables
Long-term employee benefits payable
Provisions
Deferred income
Deferred income tax liabilities 1,295,046.51
Other non-current liabilities
Total non-current liabilities 1,295,046.51
Total liabilities 776,238,058.92 524,265,597.03
Owners’ equity:
Share capital 1,011,660,000.00 1,011,660,000.00
Other equity instruments
Including: Preference shares
Perpetual bonds
Capital reserves 964,711,931.13 964,711,931.13
Less: Treasury stock
Other comprehensive income 901,477.90 922,125.77
Specific reserve
Surplus reserves 168,093,225.53 168,093,225.53
Retained earnings 1,301,696,216.02 1,280,197,219.96
Total owners’ equity 3,447,062,850.58 3,425,584,502.39
Total liabilities and owners’ equity 4,223,300,909.50 3,949,850,099.42
3. Consolidated Income Statement for Q3
Unit: RMB
Item Q3 2020 Q3 2019
17
ShenZhen Special Economic Zone Real Estate & Properties (Group) Co., Ltd. Third Quarterly Report 2020
1. Revenues 621,402,307.38 652,161,755.98
Including: Operating revenue 621,402,307.38 652,161,755.98
Interest income 0.00 0.00
Insurance premium income 0.00 0.00
Fee and commission income 0.00 0.00
2. Costs and expenses 488,219,446.09 508,519,742.09
Including: Cost of sales 261,658,476.98 225,926,024.78
Interest expense 0.00 0.00
Fee and commission expense 0.00 0.00
Surrenders 0.00 0.00
Net insurance claims paid 0.00 0.00
Net amount provided as insurance contract
0.00 0.00
reserve
Expenditure on policy dividends 0.00 0.00
Reinsurance premium expense 0.00 0.00
Taxes and levies 170,752,298.29 242,162,059.26
Selling expense 40,723,090.76 31,500,769.16
Administrative expense 16,132,071.37 12,335,872.01
R&D expense 0.00 0.00
Finance costs -1,046,491.31 -3,404,983.12
Including: Interest expense 0.00
Interest income 1,569,131.51 3,166,663.05
Add: Other income 390,837.82 0.00
Return on investment (“-” for loss) 599,760.00 -373,119.67
Including: Share of profit or loss of joint ventures and
0.00 0.00
associates
Income from the derecognition of financial assets at
0.00 0.00
amortized cost (“-” for loss)
Exchange gain (“-” for loss) 0.00 0.00
Net gain on exposure hedges (“-” for loss) 0.00 0.00
Gain on changes in fair value (“-” for loss) 0.00 0.00
Credit impairment loss (“-” for loss) 0.00 0.00
Asset impairment loss (“-” for loss) 0.00 0.00
Asset disposal income (“-” for loss) 0.00 0.00
3. Operating profit (“-” for loss) 134,173,459.11 143,268,894.22
18
ShenZhen Special Economic Zone Real Estate & Properties (Group) Co., Ltd. Third Quarterly Report 2020
Add: Non-operating income 526,690.12 815,092.19
Less: Non-operating expense 72,556.05 115,409.72
4. Gross profit (“-” for loss) 134,627,593.18 143,968,576.69
Less: Income tax expense 33,061,194.19 37,567,074.64
5. Net profit (“-” for net loss) 101,566,398.99 106,401,502.05
5.1 By operating continuity
5.1.1 Net profit from continuing operations (“-” for net
101,566,398.99 106,401,502.05
loss)
5.1.2 Net profit from discontinued operations (“-” for net
0.00 0.00
loss)
5.2 By ownership
5.2.1 Net profit attributable to owners of the Company as
101,565,292.91 106,361,655.99
the parent
5.2.1 Net profit attributable to non-controlling interests 1,106.08 39,846.06
6. Other comprehensive income, net of tax 687,255.06 -2,506,066.59
Attributable to owners of the Company as the parent 687,255.62 -1,754,246.62
6.1 Items that will not be reclassified to profit or loss 271,347.76 0.00
6.1.1 Changes caused by remeasurements on defined
0.00 0.00
benefit schemes
6.1.2 Other comprehensive income that will not be
0.00 0.00
reclassified to profit or loss under the equity method
6.1.3 Changes in the fair value of investments in other
271,347.76 0.00
equity instruments
6.1.4 Changes in the fair value arising from changes in
0.00 0.00
own credit risk
6.1.5 Other 0.00 0.00
6.2 Items that will be reclassified to profit or loss 415,907.86 -1,754,246.62
6.2.1 Other comprehensive income that will be
0.00 0.00
reclassified to profit or loss under the equity method
6.2.2 Changes in the fair value of other debt investments 0.00 0.00
6.2.3 Other comprehensive income arising from the
0.00 0.00
reclassification of financial assets
6.2.4 Credit impairment allowance for other debt
0.00 0.00
investments
6.2.5 Reserve for cash flow hedges 0.00 0.00
6.2.6 Differences arising from the translation of foreign
415,907.86 -1,754,246.62
currency-denominated financial statements
6.2.7 Other 0.00 0.00
19
ShenZhen Special Economic Zone Real Estate & Properties (Group) Co., Ltd. Third Quarterly Report 2020
Attributable to non-controlling interests -0.56 -751,819.97
7. Total comprehensive income 102,253,654.05 103,895,435.46
Attributable to owners of the Company as the parent 102,252,548.53 104,607,409.37
Attributable to non-controlling interests 1,105.52 -711,973.91
8. Earnings per share
8.1 Basic earnings per share 0.1004 0.1051
8.2 Diluted earnings per share 0.1004 0.1051
Where business combinations under common control occurred in the current period, the net profit achieved by the acquirees before
the combinations was RMB0.00, with the amount for the same period of last year being RMB0.00.
Legal representative: Liu Zhengyu The person in charge of accounting affairs: Tang Xiaoping
The head of the accounting department: Qiao Yanjun
4. Income Statement of the Company as the Parent for Q3
Unit: RMB
Item Q3 2020 Q3 2019
1. Operating revenue 465,036,612.65 457,189,896.78
Less: Cost of sales 117,982,583.16 68,196,735.27
Taxes and levies 153,485,728.39 230,200,579.16
Selling expense 37,970,599.12 24,802,601.53
Administrative expense 8,739,780.11 5,178,201.72
R&D expense 0.00 0.00
Finance costs -256,858.93 -13,883,609.15
Including: Interest expense 0.00 0.00
Interest income 7,319,522.07 9,068,023.21
Add: Other income 4,660.17 0.00
Return on investment (“-” for loss) 599,760.00 -373,119.67
Including: Share of profit or loss of joint ventures and
0.00 0.00
associates
Income from the derecognition of financial assets at
0.00 0.00
amortized cost (“-” for loss)
Net gain on exposure hedges (“-” for loss) 0.00 0.00
Gain on changes in fair value (“-” for loss) 0.00 0.00
Credit impairment loss (“-” for loss) 0.00 0.00
Asset impairment loss (“-” for loss) 0.00 0.00
Asset disposal income (“-” for loss) 0.00 0.00
20
ShenZhen Special Economic Zone Real Estate & Properties (Group) Co., Ltd. Third Quarterly Report 2020
2. Operating profit (“-” for loss) 147,719,200.97 142,322,268.58
Add: Non-operating income 9,050.78 418,858.34
Less: Non-operating expense 34,070.39 30,000.00
3. Gross profit (“-” for loss) 147,694,181.36 142,711,126.92
Less: Income tax expense 36,786,691.72 35,721,721.55
4. Net profit (“-” for net loss) 110,907,489.64 106,989,405.37
4.1 Net profit from continuing operations (“-” for net loss) 110,907,489.64 106,989,405.37
4.2 Net profit from discontinued operations (“-” for net loss) 0.00 0.00
5. Other comprehensive income, net of tax -320,373.69 0.00
5.1 Items that will not be reclassified to profit or loss -320,373.69 0.00
5.1.1 Changes caused by remeasurements on defined
0.00 0.00
benefit schemes
5.1.2 Other comprehensive income that will not be
0.00 0.00
reclassified to profit or loss under the equity method
5.1.3 Changes in the fair value of investments in other
-320,373.69 0.00
equity instruments
5.1.4 Changes in the fair value arising from changes in
0.00 0.00
own credit risk
5.1.5 Other 0.00 0.00
5.2 Items that will be reclassified to profit or loss 0.00 0.00
5.2.1 Other comprehensive income that will be reclassified
0.00 0.00
to profit or loss under the equity method
5.2.2 Changes in the fair value of other debt investments 0.00 0.00
5.2.3 Other comprehensive income arising from the
0.00 0.00
reclassification of financial assets
5.2.4 Credit impairment allowance for other debt
0.00 0.00
investments
5.2.5 Reserve for cash flow hedges 0.00 0.00
5.2.6 Differences arising from the translation of foreign
0.00 0.00
currency-denominated financial statements
5.2.7 Other 0.00 0.00
6. Total comprehensive income 110,587,115.95 106,989,405.37
7. Earnings per share
7.1 Basic earnings per share
7.2 Diluted earnings per share
5. Consolidated Income Statement for Q1~Q3
Unit: RMB
21
ShenZhen Special Economic Zone Real Estate & Properties (Group) Co., Ltd. Third Quarterly Report 2020
Item Q1~Q3 2020 Q1~Q3 2019
1. Revenues 1,217,660,802.78 1,903,499,558.55
Including: Operating revenue 1,217,660,802.78 1,903,499,558.55
Interest income
Insurance premium income
Fee and commission income
2. Costs and expenses 960,778,486.08 1,328,637,789.74
Including: Cost of sales 605,566,564.44 663,054,001.03
Interest expense
Fee and commission expense
Surrenders
Net insurance claims paid
Net amount provided as insurance contract
reserve
Expenditure on policy dividends
Reinsurance premium expense
Taxes and levies 256,360,411.16 582,491,558.12
Selling expense 49,259,539.14 49,974,829.49
Administrative expense 56,386,048.63 43,148,643.34
R&D expense
Finance costs -6,794,077.29 -10,031,242.24
Including: Interest expense
Interest income 7,502,105.11 10,790,216.10
Add: Other income 948,216.96
Return on investment (“-” for loss) 15,816,818.60 13,914,978.88
Including: Share of profit or loss of joint ventures and
associates
Income from the derecognition of financial assets at
amortized cost (“-” for loss)
Exchange gain (“-” for loss)
Net gain on exposure hedges (“-” for loss)
Gain on changes in fair value (“-” for loss)
Credit impairment loss (“-” for loss)
Asset impairment loss (“-” for loss) 534,500.00
Asset disposal income (“-” for loss)
22
ShenZhen Special Economic Zone Real Estate & Properties (Group) Co., Ltd. Third Quarterly Report 2020
3. Operating profit (“-” for loss) 274,181,852.26 588,776,747.69
Add: Non-operating income 3,428,723.89 1,178,801.30
Less: Non-operating expense 2,073,834.53 119,165.54
4. Gross profit (“-” for loss) 275,536,741.62 589,836,383.45
Less: Income tax expense 76,660,884.16 150,296,868.50
5. Net profit (“-” for net loss) 198,875,857.46 439,539,514.95
5.1 By operating continuity
5.1.1 Net profit from continuing operations (“-” for net
198,875,857.46 439,539,514.95
loss)
5.1.2 Net profit from discontinued operations (“-” for net
loss)
5.2 By ownership
5.2.1 Net profit attributable to owners of the Company as
198,840,278.63 439,517,499.40
the parent
5.2.1 Net profit attributable to non-controlling interests 35,578.83 22,015.55
6. Other comprehensive income, net of tax 1,393,341.76 -2,384,296.08
Attributable to owners of the Company as the parent 1,056,743.56 -1,669,007.26
6.1 Items that will not be reclassified to profit or loss -144,561.41
6.1.1 Changes caused by remeasurements on defined
benefit schemes
6.1.2 Other comprehensive income that will not be
reclassified to profit or loss under the equity method
6.1.3 Changes in the fair value of investments in other
-144,561.41
equity instruments
6.1.4 Changes in the fair value arising from changes in
own credit risk
6.1.5 Other
6.2 Items that will be reclassified to profit or loss 1,201,304.97 -1,669,007.26
6.2.1 Other comprehensive income that will be
reclassified to profit or loss under the equity method
6.2.2 Changes in the fair value of other debt investments
6.2.3 Other comprehensive income arising from the
reclassification of financial assets
6.2.4 Credit impairment allowance for other debt
investments
6.2.5 Reserve for cash flow hedges
6.2.6 Differences arising from the translation of foreign
1,201,304.97 -1,669,007.26
currency-denominated financial statements
23
ShenZhen Special Economic Zone Real Estate & Properties (Group) Co., Ltd. Third Quarterly Report 2020
6.2.7 Other
Attributable to non-controlling interests 336,598.20 -715,288.82
7. Total comprehensive income 200,269,199.22 437,155,218.87
Attributable to owners of the Company as the parent 199,897,022.19 437,848,492.14
Attributable to non-controlling interests 372,177.03 -693,273.27
8. Earnings per share
8.1 Basic earnings per share 0.1965 0.4345
8.2 Diluted earnings per share 0.1965 0.4345
Where business combinations under common control occurred in the current period, the net profit achieved by the acquirees before
the combinations was RMB0.00, with the amount for the same period of last year being RMB0.00.
Legal representative: Liu Zhengyu The person in charge of accounting affairs: Tang Xiaoping
The head of the accounting department: Qiao Yanjun
6. Income Statement of the Company as the Parent for Q1~Q3
Unit: RMB
Item Q1~Q3 2020 Q1~Q3 2019
1. Operating revenue 696,397,650.09 1,285,592,972.89
Less: Cost of sales 182,760,880.40 193,563,436.58
Taxes and levies 223,355,364.87 535,792,470.89
Selling expense 41,515,425.80 37,021,750.96
Administrative expense 32,651,881.83 18,171,868.82
R&D expense
Finance costs -21,293,980.99 -30,376,728.80
Including: Interest expense
Interest income 25,273,593.53 26,525,418.74
Add: Other income 32,743.86
Return on investment (“-” for loss) 15,816,818.60 532,615,110.52
Including: Share of profit or loss of joint ventures and
associates
Income from the derecognition of financial assets at
amortized cost (“-” for loss)
Net gain on exposure hedges (“-” for loss)
Gain on changes in fair value (“-” for loss)
Credit impairment loss (“-” for loss)
Asset impairment loss (“-” for loss)
24
ShenZhen Special Economic Zone Real Estate & Properties (Group) Co., Ltd. Third Quarterly Report 2020
Asset disposal income (“-” for loss)
2. Operating profit (“-” for loss) 253,257,640.64 1,064,035,284.96
Add: Non-operating income 179,050.88 548,037.48
Less: Non-operating expense 536,211.01 30,000.00
3. Gross profit (“-” for loss) 252,900,480.51 1,064,553,322.44
Less: Income tax expense 64,477,584.45 136,312,932.72
4. Net profit (“-” for net loss) 188,422,896.06 928,240,389.72
4.1 Net profit from continuing operations (“-” for net loss) 188,422,896.06 928,240,389.72
4.2 Net profit from discontinued operations (“-” for net loss)
5. Other comprehensive income, net of tax
5.1 Items that will not be reclassified to profit or loss
5.1.1 Changes caused by remeasurements on defined
benefit schemes
5.1.2 Other comprehensive income that will not be
reclassified to profit or loss under the equity method
5.1.3 Changes in the fair value of investments in other
equity instruments
5.1.4 Changes in the fair value arising from changes in
own credit risk
5.1.5 Other
5.2 Items that will be reclassified to profit or loss
5.2.1 Other comprehensive income that will be reclassified
to profit or loss under the equity method
5.2.2 Changes in the fair value of other debt investments
5.2.3 Other comprehensive income arising from the
reclassification of financial assets
5.2.4 Credit impairment allowance for other debt
investments
5.2.5 Reserve for cash flow hedges
5.2.6 Differences arising from the translation of foreign
currency-denominated financial statements
5.2.7 Other
6. Total comprehensive income 188,422,896.06 928,240,389.72
7. Earnings per share
7.1 Basic earnings per share
7.2 Diluted earnings per share
25
ShenZhen Special Economic Zone Real Estate & Properties (Group) Co., Ltd. Third Quarterly Report 2020
7. Consolidated Cash Flow Statement for Q1~Q3
Unit: RMB
Item Q1~Q3 2020 Q1~Q3 2019
1. Cash flows from operating activities:
Proceeds from sale of commodities and rendering of services 1,264,810,543.01 2,212,532,294.20
Net increase in customer deposits and deposits from other
banks and financial institutions
Net increase in borrowings from the central bank
Net increase in loans from other financial institutions
Premiums received on original insurance contracts
Net proceeds from reinsurance
Net increase in deposits and investments of policy holders
Interest, fees and commissions received
Net increase in loans from other banks and financial
institutions
Net increase in proceeds from repurchase transactions
Net proceeds from acting trading of securities
Tax and levy rebates 30,184.28 39,473.00
Cash generated from other operating activities 189,648,016.53 62,546,726.84
Subtotal of cash generated from operating activities 1,454,488,743.82 2,275,118,494.04
Payments for commodities and services 335,093,891.09 503,898,254.63
Net increase in loans and advances to customers
Net increase in deposits in the central bank and other banks
and financial institutions
Payments for claims on original insurance contracts
Net increase in loans to other banks and financial institutions
Interest, fees and commissions paid
Policy dividends paid
Cash paid to and for employees 112,729,873.31 106,766,698.72
Taxes and levies paid 604,692,731.70 522,837,883.22
Cash used in other operating activities 304,562,429.27 99,699,978.18
Subtotal of cash used in operating activities 1,357,078,925.37 1,233,202,814.75
Net cash generated from/used in operating activities 97,409,818.45 1,041,915,679.29
2. Cash flows from investing activities:
Proceeds from disinvestment 1,000,000,000.00 900,000,000.00
26
ShenZhen Special Economic Zone Real Estate & Properties (Group) Co., Ltd. Third Quarterly Report 2020
Return on investment 20,917,568.22 11,365,734.25
Net proceeds from the disposal of fixed assets, intangible
1,000.00 118,900.00
assets and other long-lived assets
Net proceeds from the disposal of subsidiaries and other
business units
Cash generated from other investing activities
Subtotal of cash generated from investing activities 1,020,918,568.22 911,484,634.25
Payments for the acquisition of fixed assets, intangible assets
99,757.90 138,768.93
and other long-lived assets
Payments for investments
Net increase in pledged loans granted
Net payments for the acquisition of subsidiaries and other
business units
Cash used in other investing activities 1,300,000,000.00
Subtotal of cash used in investing activities 99,757.90 1,300,138,768.93
Net cash generated from/used in investing activities 1,020,818,810.32 -388,654,134.68
3. Cash flows from financing activities:
Capital contributions received
Including: Capital contributions by non-controlling
interests to subsidiaries
Borrowings received
Cash generated from other financing activities
Subtotal of cash generated from financing activities 0.00 0.00
Repayment of borrowings 2,000,000.00
Interest and dividends paid 166,923,900.00 202,332,000.00
Including: Dividends paid by subsidiaries to
non-controlling interests
Cash used in other financing activities
Subtotal of cash used in financing activities 166,923,900.00 204,332,000.00
Net cash generated from/used in financing activities -166,923,900.00 -204,332,000.00
4. Effect of foreign exchange rates changes on cash and cash
-366,192.25 -459,655.67
equivalents
5. Net increase in cash and cash equivalents 950,938,536.52 448,469,888.94
Add: Cash and cash equivalents, beginning of the period 1,507,189,760.35 1,148,522,435.93
6. Cash and cash equivalents, end of the period 2,458,128,296.87 1,596,992,324.87
27
ShenZhen Special Economic Zone Real Estate & Properties (Group) Co., Ltd. Third Quarterly Report 2020
8. Cash Flow Statement of the Company as the Parent for Q1~Q3
Unit: RMB
Item Q1~Q3 2020 Q1~Q3 2019
1. Cash flows from operating activities:
Proceeds from sale of commodities and rendering of services 758,029,471.29 1,469,696,209.60
Tax and levy rebates 39,473.00
Cash generated from other operating activities 139,081,676.94 29,139,180.19
Subtotal of cash generated from operating activities 897,111,148.23 1,498,874,862.79
Payments for commodities and services 21,193,820.53 76,648,788.23
Cash paid to and for employees 33,564,532.83 27,909,601.83
Taxes and levies paid 123,705,162.54 258,333,159.45
Cash used in other operating activities 400,163,108.94 4,324,652.42
Subtotal of cash used in operating activities 578,626,624.84 367,216,201.93
Net cash generated from/used in operating activities 318,484,523.39 1,131,658,660.86
2. Cash flows from investing activities:
Proceeds from disinvestment 1,000,000,000.00 900,000,000.00
Return on investment 20,917,568.22 142,838,563.97
Net proceeds from the disposal of fixed assets, intangible
assets and other long-lived assets
Net proceeds from the disposal of subsidiaries and other
business units
Cash generated from other investing activities
Subtotal of cash generated from investing activities 1,020,917,568.22 1,042,838,563.97
Payments for the acquisition of fixed assets, intangible assets
46,488.00 65,810.00
and other long-lived assets
Payments for investments
Net payments for the acquisition of subsidiaries and other
business units
Cash used in other investing activities 1,300,000,000.00
Subtotal of cash used in investing activities 46,488.00 1,300,065,810.00
Net cash generated from/used in investing activities 1,020,871,080.22 -257,227,246.03
3. Cash flows from financing activities:
Capital contributions received
Borrowings received
Cash generated from other financing activities
28
ShenZhen Special Economic Zone Real Estate & Properties (Group) Co., Ltd. Third Quarterly Report 2020
Subtotal of cash generated from financing activities
Repayment of borrowings
Interest and dividends paid 166,923,900.00 202,332,000.00
Cash used in other financing activities
Subtotal of cash used in financing activities 166,923,900.00 202,332,000.00
Net cash generated from/used in financing activities -166,923,900.00 -202,332,000.00
4. Effect of foreign exchange rates changes on cash and cash
-191,346.36 -676,807.86
equivalents
5. Net increase in cash and cash equivalents 1,172,240,357.25 671,422,606.97
Add: Cash and cash equivalents, beginning of the period 963,737,437.55 444,486,378.53
6. Cash and cash equivalents, end of the period 2,135,977,794.80 1,115,908,985.50
II Adjustments to the Financial Statements
1. Adjustments to the Financial Statements at the Beginning of the First Execution Year (2020) of the New
Accounting Standards Governing Revenue and Leases
√ Applicable □ Not applicable
Whether items of the balance sheets at the beginning of the year need adjustments
√ Yes □ No
Consolidated balance sheet
Unit: RMB
Item 31 December 2019 1 January 2020 Adjustment
Current assets:
Monetary assets 2,511,140,445.35 2,511,140,445.35
Settlement reserve
Loans to other banks and financial institutions
Held-for-trading financial assets
Derivative financial assets
Notes receivable
Accounts receivable 62,059,055.68 62,059,055.68
Receivables financing
Prepayments 219,948.17 219,948.17
Premiums receivable
Reinsurance receivables
Receivable reinsurance contract reserve
Other receivables 28,275,228.26 28,275,228.26
29
ShenZhen Special Economic Zone Real Estate & Properties (Group) Co., Ltd. Third Quarterly Report 2020
Including: Interest receivable
Dividends receivable 1,052,192.76 1,052,192.76
Financial assets purchased under resale agreements
Inventories 1,462,229,048.18 1,462,229,048.18
Contract assets
Assets held for sale
Current portion of non-current assets
Other current assets 102,781,855.48 102,781,855.48
Total current assets 4,166,705,581.12 4,166,705,581.12
Non-current assets:
Loans and advances to customers
Debt investments
Other debt investments
Long-term receivables
Long-term equity investments 469,838.65 469,838.65
Investments in other equity instruments 33,126,730.04 33,126,730.04
Other non-current financial assets
Investment property 632,241,900.20 632,241,900.20
Fixed assets 30,522,035.11 30,522,035.11
Construction in progress
Productive living assets
Oil and gas assets
Right-of-use assets
Intangible assets
Development costs
Goodwill
Long-term prepaid expense 162,125.72 162,125.72
Deferred income tax assets 46,441,325.25 46,441,325.25
Other non-current assets
Total non-current assets 742,963,954.97 742,963,954.97
Total assets 4,909,669,536.09 4,909,669,536.09
Current liabilities:
Short-term borrowings 51,647,260.17 51,647,260.17
Borrowings from the central bank
30
ShenZhen Special Economic Zone Real Estate & Properties (Group) Co., Ltd. Third Quarterly Report 2020
Loans from other banks and financial institutions
Held-for-trading financial liabilities
Derivative financial liabilities
Notes payable
Accounts payable 244,224,478.46 244,224,478.46
Advances from customers 159,482,510.43 4,864,243.00 -154,618,267.43
Contract liabilities 151,007,450.32 151,007,450.32
Financial assets sold under repurchase agreements
Customer deposits and deposits from other banks and
financial institutions
Payables for acting trading of securities
Payables for underwriting of securities
Employee benefits payable 53,909,576.49 53,909,576.49
Taxes and levies payable 585,700,815.36 589,311,632.47 3,610,817.11
Other payables 277,319,174.53 277,319,174.53
Including: Interest payable 16,535,277.94 16,535,277.94
Dividends payable
Fees and commissions payable
Reinsurance payables
Liabilities directly associated with assets held for sale
Current portion of non-current liabilities
Other current liabilities
Total current liabilities 1,372,283,815.44 1,372,283,815.44
Non-current liabilities:
Insurance contract reserve
Long-term borrowings
Bonds payable
Including: Preference shares
Perpetual bonds
Lease liabilities
Long-term payables 7,499,192.92 7,499,192.92
Long-term employee benefits payable
Provisions
Deferred income
Deferred income tax liabilities 4,903,293.58 4,903,293.58
31
ShenZhen Special Economic Zone Real Estate & Properties (Group) Co., Ltd. Third Quarterly Report 2020
Other non-current liabilities
Total non-current liabilities 12,402,486.50 12,402,486.50
Total liabilities 1,384,686,301.94 1,384,686,301.94
Owners’ equity:
Share capital 1,011,660,000.00 1,011,660,000.00
Other equity instruments
Including: Preference shares
Perpetual bonds
Capital reserves 978,244,910.11 978,244,910.11
Less: Treasury stock
Other comprehensive income 20,831,004.13 20,831,004.13
Specific reserve
Surplus reserves 191,222,838.94 191,222,838.94
General reserve
Retained earnings 1,464,915,816.81 1,464,915,816.81
Total equity attributable to owners of the Company as
3,666,874,569.99 3,666,874,569.99
the parent
Non-controlling interests -141,891,335.84 -141,891,335.84
Total owners’ equity 3,524,983,234.15 3,524,983,234.15
Total liabilities and owners’ equity 4,909,669,536.09 4,909,669,536.09
Notes to the adjustment
Balance sheet of the Company as the parent
Unit: RMB
Item 31 December 2019 1 January 2020 Adjustment
Current assets:
Monetary assets 1,967,688,122.55 1,967,688,122.55
Held-for-trading financial assets
Derivative financial assets
Notes receivable
Accounts receivable 156,935.84 156,935.84
Receivables financing
Prepayments 200,000.00 200,000.00
Other receivables 835,275,498.69 835,275,498.69
Including: Interest receivable
Dividends receivable
32
ShenZhen Special Economic Zone Real Estate & Properties (Group) Co., Ltd. Third Quarterly Report 2020
Inventories 419,453,091.86 419,453,091.86
Contract assets
Assets held for sale
Current portion of non-current assets
Other current assets 407,560.64 407,560.64
Total current assets 3,223,181,209.58 3,223,181,209.58
Non-current assets:
Debt investments
Other debt investments
Long-term receivables
Long-term equity investments 150,676,516.92 150,676,516.92
Investments in other equity instruments 13,229,501.03 13,229,501.03
Other non-current financial assets
Investment property 522,038,731.16 522,038,731.16
Fixed assets 19,586,720.47 19,586,720.47
Construction in progress
Productive living assets
Oil and gas assets
Right-of-use assets
Intangible assets
Development costs
Goodwill
Long-term prepaid expense
Deferred income tax assets 162,125.72 162,125.72
Other non-current assets 20,975,294.54 20,975,294.54
Total non-current assets 726,668,889.84 726,668,889.84
Total assets 3,949,850,099.42 3,949,850,099.42
Current liabilities:
Short-term borrowings
Held-for-trading financial liabilities
Derivative financial liabilities
Notes payable
Accounts payable 103,915,931.14 103,915,931.14
Advances from customers 59,409,454.38 -59,409,454.38
33
ShenZhen Special Economic Zone Real Estate & Properties (Group) Co., Ltd. Third Quarterly Report 2020
Contract liabilities 56,580,432.74 56,580,432.74
Employee benefits payable 25,544,403.23 25,544,403.23
Taxes and levies payable 143,434,273.95 146,263,295.59 2,829,021.64
Other payables 190,666,487.82 190,666,487.82
Including: Interest payable 16,535,277.94 16,535,277.94
Dividends payable
Liabilities directly associated with assets held for sale
Current portion of non-current liabilities
Other current liabilities
Total current liabilities 522,970,550.52 522,970,550.52
Non-current liabilities:
Long-term borrowings
Bonds payable
Including: Preference shares
Perpetual bonds
Lease liabilities
Long-term payables
Long-term employee benefits payable
Provisions
Deferred income
Deferred income tax liabilities 1,295,046.51 1,295,046.51
Other non-current liabilities
Total non-current liabilities 1,295,046.51 1,295,046.51
Total liabilities 524,265,597.03 524,265,597.03
Owners’ equity:
Share capital 1,011,660,000.00 1,011,660,000.00
Other equity instruments
Including: Preference shares
Perpetual bonds
Capital reserves 964,711,931.13 964,711,931.13
Less: Treasury stock
Other comprehensive income 922,125.77 922,125.77
Specific reserve
Surplus reserves 168,093,225.53 168,093,225.53
34
ShenZhen Special Economic Zone Real Estate & Properties (Group) Co., Ltd. Third Quarterly Report 2020
Retained earnings 1,280,197,219.96 1,280,197,219.96
Total owners’ equity 3,425,584,502.39 3,425,584,502.39
Total liabilities and owners’ equity 3,949,850,099.42 3,949,850,099.42
Notes to the adjustment
According to the Company’s principle for revenue recognition, after the execution of the new standards governing revenue by the
Company, no “contract assets” will be formed. And relevant data of financial statements mainly influence the reclassification of
“contract liabilities”, “advances from customers” and “taxes and levies payable”.
2. Retrospective Adjustments to the Comparative Data of Prior Periods due to the First Execution in 2020
of the New Accounting Standards Governing Revenue and Leases
□ Applicable √ Not applicable
III Independent Auditor’s Report
Indicate by tick mark whether the financial statements above have been audited by an independent auditor.
□Yes √ No
These financial statements have not been audited by such an auditor.
35
