ShenZhen Special Economic Zone Real Estate & Properties (Group) Co., Ltd. First Quarterly Report 2021
SHENZHEN SPECIAL ECONOMIC ZONE REAL ESTATE
& PROPERTIES (GROUP) CO., LTD.
FIRST QUARTERLY REPORT 2021
2021-015
April 2021
1
ShenZhen Special Economic Zone Real Estate & Properties (Group) Co., Ltd. First Quarterly Report 2021
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 the
factuality, accuracy and completeness of the contents of this Report and its summary, and
shall be jointly and severally liable for any misrepresentations, misleading statements or
material omissions therein.
All the Company’s directors have attended the Board meeting for the review of this Report
and its summary.
Liu Zhengyu, chairman of the Company’s Board, Zhao Zhongliang, the Company’s Chief
Financial Officer, 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 factual, 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.
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ShenZhen Special Economic Zone Real Estate & Properties (Group) Co., Ltd. First Quarterly Report 2021
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
Q1 2021 Q1 2020 Change (%)
Operating revenue (RMB) 415,282,352.53 256,842,391.67 61.69%
Net profit attributable to the listed
88,040,167.60 28,114,908.77 213.14%
company’s shareholders (RMB)
Net profit attributable to the listed
company’s shareholders before exceptional 87,395,877.39 28,075,623.63 211.29%
items (RMB)
Net cash generated from/used in operating
303,456,191.73 -435,258,963.67 169.72%
activities (RMB)
Basic earnings per share (RMB/share) 0.0870 0.0278 212.95%
Diluted earnings per share (RMB/share) 0.0870 0.0278 212.95%
Weighted average return on equity (%) 2.29% 0.76% 1.53%
31 March 2021 31 December 2020 Change (%)
Total assets (RMB) 5,155,621,819.61 4,936,916,746.74 4.43%
Equity attributable to the listed company’s
3,887,861,147.30 3,797,512,488.22 2.38%
shareholders (RMB)
Exceptional gains and losses:
√ Applicable □ Not applicable
Unit: RMB
Item Q1 2021 Note
Gain or loss on disposal of non-current assets (inclusive of
-1,638.25
impairment allowance write-offs)
Primarily income from confiscate
Non-operating income and expense other than the above 860,691.86
front money
Less: Income tax effects 214,763.40
Total 644,290.21 --
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
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ShenZhen Special Economic Zone Real Estate & Properties (Group) Co., Ltd. First Quarterly Report 2021
No such cases for the Reporting Period.
II Total Number of Shareholders and Holdings of Top 10 Shareholders at 31 March 2021
1. Numbers of Ordinary Shareholders and Preferred Shareholders with Resumed Voting Rights as well as
Holdings of Top 10 Shareholders
Unit: share
Number of preferred shareholders
Number of ordinary shareholders at
67,088 with resumed voting rights at the 0
the period-end
period-end (if any)
Top 10 shareholders
Shares in pledge or
Nature of Shareholding Total shares Restricted
Name of shareholder frozen
shareholder percentage held shares held
Status Shares
Shenzhen Investment Holdings Co., State-owned
57.19% 578,595,836
Ltd. corporation
Domestic
Shenzhen State-Owned Equity
non-state-owned 6.35% 64,288,426
Operation and Management Co., Ltd.
legal person
Hong Kong Securities Clearing Foreign legal
0.32% 3,234,444
Company Ltd. person
Domestic natural
Lin Weirong 0.28% 2,859,500
person
Domestic natural
Liang Weicheng 0.19% 1,934,000
person
Zhuhai Huaiyuan Fund Management
Co., Ltd.-Huaiyuan Freedom Trail I Other 0.15% 1,550,000
Private Placement Fund
Domestic natural
He Qiao 0.15% 1,519,100
person
Domestic
Shenzhen Bao'an Songgang Huamei
non-state-owned 0.14% 1,430,396
Industry Company
legal person
Domestic natural
Yang Shuilian 0.14% 1,411,000
person
Domestic natural
Yang Jianmin 0.14% 1,393,800
person
Top 10 unrestricted shareholders
Name of shareholder Unrestricted shares held Shares by type
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ShenZhen Special Economic Zone Real Estate & Properties (Group) Co., Ltd. First Quarterly Report 2021
Type Shares
RMB-denomina
Shenzhen Investment Holdings Co., Ltd. 578,595,836 ted ordinary 578,595,836
stock
RMB-denomina
Shenzhen State-Owned Equity Operation and Management Co.,
64,288,426 ted ordinary 64,288,426
Ltd.
stock
RMB-denomina
Hong Kong Securities Clearing Company Ltd. 3,234,444 ted ordinary 3,234,444
stock
RMB-denomina
Lin Weirong 2,859,500 ted ordinary 2,859,500
stock
RMB-denomina
Liang Weicheng 1,934,000 ted ordinary 1,934,000
stock
RMB-denomina
Zhuhai Huaiyuan Fund Management Co., Ltd.-Huaiyuan
1,550,000 ted ordinary 1,550,000
Freedom Trail I Private Placement Fund
stock
RMB-denomina
He Qiao 1,519,100 ted ordinary 1,519,100
stock
RMB-denomina
Shenzhen Bao'an Songgang Huamei Industry Company 1,430,396 ted ordinary 1,430,396
stock
RMB-denomina
Yang Shuilian 1,411,000 ted ordinary 1,411,000
stock
RMB-denomina
Yang Jianmin 1,393,800 ted ordinary 1,393,800
stock
Among the top 10 shareholders of the Company, Shenzhen State-Owned Equity
Operation and Management Co., Ltd. is the wholly-owned subsidiary of Shenzhen
Related or acting-in-concert parties among the Investment Holdings Co., Ltd. The Company does not know whether there exists
shareholders above related-party relationship among the other shareholders, or whether they are persons
acting in concert as prescribed in the Administrative Measures for the Acquisition of
Listed Companies.
Among the top 10 shareholders, the fourth shareholder holds 1,329,500 shares of the
Top 10 shareholders engaged in securities Company in his credit security account; the fifth shareholder holds 1,934,000 shares
margin trading of the Company in his credit security account; the sixth shareholder holds 780,000
shares of the Company in its credit security account; the seventh shareholder holds
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ShenZhen Special Economic Zone Real Estate & Properties (Group) Co., Ltd. First Quarterly Report 2021
991,600 shares of the Company in his credit security account; the eighth shareholder
holds 1,430,396 shares of the Company in its credit security account; the tenth
shareholder holds 331,000 shares of the Company in his credit security account.
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 Preferred Shareholders and Shareholdings of Top 10 of Them
□ Applicable √ Not applicable
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ShenZhen Special Economic Zone Real Estate & Properties (Group) Co., Ltd. First Quarterly Report 2021
Part III Significant Events
I Changes in Key Financial Statement Line Items and Explanation of why
√ Applicable □ Not applicable
Operating revenue rose 61.69% during Q1 2021 compared to Q1 2020, primarily driven by an increase in revenue recognized from
property sales.
Contract liabilities rose 52.07% as at 31 March 2021 compared to 31 December 2020, primarily driven by an increase in the property
unit sales.
The gross profit and the net profit attributable to owners of the Company as the parent rose 192.21% and 213.14% respectively
during Q1 2021 compared to Q1 2020, primarily driven by an increase in revenue recognized from property sales.
Net cash generated from operating activities rose 169.72% during Q1 2021 compared to Q1 2020, primarily driven by an increase in
sales revenue collected and a decrease in taxes and levies paid.
II Progress, Influence and Solutions with regard to Significant Events
√ Applicable □ Not applicable
Pursuant to the requirements of the State Council regarding transferring some state-owned capital to replenish the social security fund,
the Company’s controlling shareholder Shenzhen Investment Holdings Co., Ltd. (SIHC) decided in January 2021 to transfer,
without no consideration required, its 64,288,426 unrestricted public A-stock ordinary shares (6.355% of the Company’s total share
capital) to Shenzhen State Owned Equity Management Co., Ltd. (SSOEM) to replenish the social security fund. SSOEM is a
wholly-owned subsidiary set up by SIHC to implement special account management on the state-owned equity interests transferred.
In March 2021, the ownership transfer formalities for the said shares were completed. The Company’s controlling shareholder and
actual controller remain the same before and after the transfer.
Summary of the significant
Disclosure date Index to the related announcement
event
The controlling shareholder Reminder on the Controlling Shareholder Transferring, with No
transferring, with no 29 January 2021 Consideration Required, Some State-Owned Equity Interests in the
consideration required, Company to Replenish the Social Security Fund (www.cninfo.com.cn)
some state-owned equity Announcement on the Completion of Ownership Transfer of Some
interests in the Company to State-Owned Equity Interests in the Company Transferred, with No
18 March 2021
replenish the social security Consideration Required, by the Controlling Shareholder to Replenish the
fund Social Security Fund (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
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ShenZhen Special Economic Zone Real Estate & Properties (Group) Co., Ltd. First Quarterly Report 2021
III Commitments that the Company’s Actual Controller, Shareholders, Related Parties,
Acquirers, the Company Itself or Other Parties, Failed to Fulfill on Time during the
Reporting Period
□ Applicable √ Not applicable
No such cases in the Reporting Period.
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 Operating Performance Forecast for January-June 2021
Warning of a forecast loss on or a forecast significant year-on-year change in the accumulative net profit from the beginning of the
year to the end of the next reporting period, as well as explanation of why:
√ Applicable □ Not applicable
Performance forecast: Increase in net profit
Type of forecast data: Interval data
January-Jun
January-June 2021 Change
e 2020
Equity attributable to shareholders of the
12,000 -- 15,000 9,727.50 Up 23.36% -- 54.20%
listed company (RMB’0,000)
Basic earnings per share (RMB /share) 0.1186 -- 0.1483 0.0962 Up 23.28% -- 54.16%
Note The sales carryforwards of the Company’s real estate increased year on year.
VII Significant Contracts Arising from the Company’s Ordinary Course of Business
□ Applicable √ Not applicable
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ShenZhen Special Economic Zone Real Estate & Properties (Group) Co., Ltd. First Quarterly Report 2021
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
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
communic communicat communic
communication n party materials provided communicate
ation ion ation party
d
Inquired of the future development plan
The Individual
7 January 2021 By phone Individual of the Company, and didn’t offer written N/A
Company investor
materials
The Individual Inquired of project sales of the
13 January 2021 By phone Individual Company, and didn’t offer written N/A
Company investor materials
Inquired of the land reserves and
The Individual
22 January 2021 By phone Individual projects progress of the Company, and N/A
Company investor
didn’t offer written materials
Inquired of business situations and
The Individual
25 January 2021 By phone Individual strategic planning of the Company, and N/A
Company investor
didn’t offer written materials
Inquired of the future development plan
The Individual
3 February 2021 By phone Individual of the Company, and didn’t offer written N/A
Company investor
materials
Inquired of business situations and
The Individual
26 February 2021 By phone Individual strategic planning of the Company, and N/A
Company investor
didn’t offer written materials
1 March 2021 The By phone Individual Individual Inquired of business situations of the N/A
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ShenZhen Special Economic Zone Real Estate & Properties (Group) Co., Ltd. First Quarterly Report 2021
Company investor Company, and did not offer written
materials
Inquired of the land reserves and
The Individual
2 March 2021 By phone Individual projects progress of the Company, and N/A
Company investor
didn’t offer written materials
Inquired of the future development plan
The Individual
18 March 2021 By phone Individual of the Company, and didn’t offer written N/A
Company investor
materials
Inquired of business situations of the
The Individual
25 March 2021 By phone Individual Company, and did not offer written N/A
Company investor
materials
Inquired of business situations and
The Individual
30 March 2021 By phone Individual strategic planning of the Company, and N/A
Company investor
didn’t offer written materials
10
ShenZhen Special Economic Zone Real Estate & Properties (Group) Co., Ltd. First Quarterly Report 2021
Part 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 31 March 2021 31 December 2020
Current assets:
Monetary assets 2,990,693,266.36 2,687,465,070.01
Settlement reserve
Interbank loans granted
Held-for-trading financial assets
Derivative financial assets
Notes receivable 40,306,360.89 35,438,045.34
Accounts receivable 80,124,135.22 59,590,944.06
Accounts receivable financing
Prepayments 2,298,220.78 3,205,534.51
Premiums receivable
Reinsurance receivables
Receivable reinsurance contract
reserve
Other receivables 18,503,652.00 32,745,043.84
Including: Interest receivable
Dividends receivable 1,052,192.76 1,052,192.76
Financial assets purchased under
resale agreements
Inventories 1,140,718,564.95 1,220,464,112.56
Contract assets
Assets held for sale
Current portion of non-current assets
Other current assets 104,140,640.39 102,907,134.79
Total current assets 4,376,784,840.59 4,141,815,885.11
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ShenZhen Special Economic Zone Real Estate & Properties (Group) Co., Ltd. First Quarterly Report 2021
Non-current assets:
Loans and advances to customers
Investments in debt obligations
Investments in other debt obligations
Long-term receivables
Long-term equity investments 377,489.65 377,489.65
Investments in other equity
37,249,564.08 37,510,860.51
instruments
Other non-current financial assets
Investment property 609,998,468.38 616,365,621.53
Fixed assets 27,314,005.99 28,039,978.43
Construction in progress
Productive living assets
Oil and gas assets
Right-of-use assets
Intangible assets
Development costs
Goodwill
Long-term prepaid expense 44,183.19 61,667.53
Deferred income tax assets 103,853,267.73 112,745,243.98
Other non-current assets
Total non-current assets 778,836,979.02 795,100,861.63
Total assets 5,155,621,819.61 4,936,916,746.74
Current liabilities:
Short-term borrowings 78,894,698.51 76,893,995.94
Borrowings from the central bank
Interbank loans obtained
Held-for-trading financial liabilities
Derivative financial liabilities
Notes payable
Accounts payable 133,747,600.44 176,926,614.28
Advances from customers 7,399,144.19 5,940,092.15
Contract liabilities 299,262,925.02 196,786,977.19
Financial assets sold under
repurchase agreements
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ShenZhen Special Economic Zone Real Estate & Properties (Group) Co., Ltd. First Quarterly Report 2021
Customer deposits and interbank
deposits
Payables for acting trading of
securities
Payables for underwriting of
securities
Employee benefits payable 48,584,158.63 60,467,834.09
Taxes payable 547,955,126.16 459,709,646.95
Other payables 258,727,312.13 277,105,129.74
Including: Interest payable 16,535,277.94 16,535,277.94
Dividends payable
Handling charges and commissions
payable
Reinsurance payables
Liabilities directly associated with
assets held for sale
Current portion of non-current
liabilities
Other current liabilities 14,965,071.27 8,917,027.07
Total current liabilities 1,389,536,036.35 1,262,747,317.41
Non-current liabilities:
Insurance contract reserve
Long-term borrowings
Bonds payable
Including: Preferred shares
Perpetual bonds
Lease liabilities
Long-term payables 8,026,001.39 7,480,233.43
Long-term employee benefits
payable
Provisions
Deferred income
Deferred income tax liabilities 9,601,940.74 9,601,940.74
Other non-current liabilities
Total non-current liabilities 17,627,942.13 17,082,174.17
Total liabilities 1,407,163,978.48 1,279,829,491.58
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ShenZhen Special Economic Zone Real Estate & Properties (Group) Co., Ltd. First Quarterly Report 2021
Owners’ equity:
Share capital 1,011,660,000.00 1,011,660,000.00
Other equity instruments
Including: Preferred shares
Perpetual bonds
Capital reserves 978,244,910.11 978,244,910.11
Less: Treasury stock
Other comprehensive income 30,471,541.61 28,163,050.13
Specific reserve
Surplus reserves 218,724,273.67 218,724,273.67
General reserve
Retained earnings 1,648,760,421.91 1,560,720,254.31
Total equity attributable to owners of
3,887,861,147.30 3,797,512,488.22
the Company as the parent
Non-controlling interests -139,403,306.17 -140,425,233.06
Total owners’ equity 3,748,457,841.13 3,657,087,255.16
Total liabilities and owners’ equity 5,155,621,819.61 4,936,916,746.74
Legal representative: Liu Zhengyu Head for financial affairs: Zhao Zhongliang
Head of the financial department: Qiao Yanjun
2. Balance Sheet of the Company as the Parent
Unit: RMB
Item 31 March 2021 31 December 2020
Current assets:
Monetary assets 2,664,413,413.41 2,329,517,987.02
Held-for-trading financial assets
Derivative financial assets
Notes receivable
Accounts receivable 191,297.58 5,418,024.74
Accounts receivable financing
Prepayments 200,000.00 200,000.00
Other receivables 1,167,336,003.21 1,160,414,195.39
Including: Interest receivable
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ShenZhen Special Economic Zone Real Estate & Properties (Group) Co., Ltd. First Quarterly Report 2021
Dividends receivable
Inventories 141,153,617.27 207,606,220.98
Contract assets
Assets held for sale
Current portion of non-current assets
Other current assets 422,821.19 945,499.13
Total current assets 3,973,717,152.66 3,704,101,927.26
Non-current assets:
Investments in debt obligations
Investments in other debt obligations
Long-term receivables
Long-term equity investments 150,584,167.95 150,584,167.95
Investments in other equity
13,640,095.62 13,508,202.32
instruments
Other non-current financial assets
Investment property 493,514,688.35 499,145,554.67
Fixed assets 17,145,766.23 17,743,083.73
Construction in progress
Productive living assets
Oil and gas assets
Right-of-use assets
Intangible assets
Development costs
Goodwill
Long-term prepaid expense 37,768.81 61,667.53
Deferred income tax assets 83,740,299.64 83,740,299.64
Other non-current assets
Total non-current assets 758,662,786.60 764,782,975.84
Total assets 4,732,379,939.26 4,468,884,903.10
Current liabilities:
Short-term borrowings
Held-for-trading financial liabilities
Derivative financial liabilities
Notes payable
15
ShenZhen Special Economic Zone Real Estate & Properties (Group) Co., Ltd. First Quarterly Report 2021
Accounts payable 75,970,645.40 77,187,914.50
Advances from customers
Contract liabilities 257,016,604.17 172,241,938.46
Employee benefits payable 26,036,707.53 27,255,860.05
Taxes payable 538,495,235.70 450,281,265.17
Other payables 185,479,244.80 194,609,459.87
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 12,850,830.21 8,612,096.92
Total current liabilities 1,095,849,267.81 930,188,534.97
Non-current liabilities:
Long-term borrowings
Bonds payable
Including: Preferred shares
Perpetual bonds
Lease liabilities
Long-term payables
Long-term employee benefits
payable
Provisions
Deferred income
Deferred income tax liabilities 4,812,392.47 4,812,392.47
Other non-current liabilities
Total non-current liabilities 4,812,392.47 4,812,392.47
Total liabilities 1,100,661,660.28 935,000,927.44
Owners’ equity:
Share capital 1,011,660,000.00 1,011,660,000.00
Other equity instruments
Including: Preferred shares
Perpetual bonds
Capital reserves 964,711,931.13 964,711,931.13
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ShenZhen Special Economic Zone Real Estate & Properties (Group) Co., Ltd. First Quarterly Report 2021
Less: Treasury stock
Other comprehensive income 1,263,045.04 1,131,151.74
Specific reserve
Surplus reserves 195,594,660.26 195,594,660.26
Retained earnings 1,458,488,642.55 1,360,786,232.53
Total owners’ equity 3,631,718,278.98 3,533,883,975.66
Total liabilities and owners’ equity 4,732,379,939.26 4,468,884,903.10
3. Consolidated Income Statement
Unit: RMB
Item Q1 2021 Q1 2020
1. Revenue 415,282,352.53 256,842,391.67
Including: Operating revenue 415,282,352.53 256,842,391.67
Interest income
Insurance premium income
Handling charge and commission income
2. Costs and expenses 297,519,627.24 216,220,676.90
Including: Cost of sales 183,741,767.38 165,557,827.24
Interest expense
Handling charge and commission expense
Surrenders
Net insurance claims paid
Net amount provided as insurance contract reserve
Expenditure on policy dividends
Reinsurance premium expense
Taxes and surcharges 95,365,107.93 34,413,593.98
Selling expense 3,714,962.78 3,479,194.67
Administrative expense 18,464,662.11 15,804,366.15
R&D expense
Finance costs -3,766,872.96 -3,034,305.14
Including: Interest expense
Interest income 4,206,960.54 2,928,449.72
Add: Other income 341,986.50 238,643.87
Return on investment (“-” for loss)
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ShenZhen Special Economic Zone Real Estate & Properties (Group) Co., Ltd. First Quarterly Report 2021
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) 586,866.00
Asset impairment loss (“-” for loss)
Asset disposal income (“-” for loss)
3. Operating profit (“-” for loss) 118,691,577.79 40,860,358.64
Add: Non-operating income 881,138.94 662,480.93
Less: Non-operating expense 22,085.33 610,100.74
4. Profit before tax (“-” for loss) 119,550,631.40 40,912,738.83
Less: Income tax expense 31,589,874.59 12,764,075.66
5. Net profit (“-” for net loss) 87,960,756.81 28,148,663.17
5.1 By operating continuity
5.1.1 Net profit from continuing operations (“-” for net loss) 87,960,756.81 28,148,663.17
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 the
88,040,167.60 28,114,908.77
parent
5.2.2 Net profit attributable to non-controlling interests -79,410.79 33,754.40
6. Other comprehensive income, net of tax 3,671,125.59 885,903.04
Attributable to owners of the Company as the parent 2,308,491.48 549,303.82
6.1 Items that will not be reclassified to profit or loss -261,296.43 -236,094.35
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
-261,296.43 -236,094.35
equity instruments
6.1.4 Changes in the fair value arising from changes in own
credit risk
6.1.5 Other
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ShenZhen Special Economic Zone Real Estate & Properties (Group) Co., Ltd. First Quarterly Report 2021
6.2 Items that will be reclassified to profit or loss 2,569,787.91 785,398.17
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 investments in other debt
obligations
6.2.3 Other comprehensive income arising from the
reclassification of financial assets
6.2.4 Credit impairment allowance for investments in other
debt obligations
6.2.5 Reserve for cash flow hedges
6.2.6 Differences arising from the translation of foreign
2,569,787.91 785,398.17
currency-denominated financial statements
6.2.7 Other
Attributable to non-controlling interests 1,362,634.11 336,599.22
7. Total comprehensive income 91,631,882.40 29,034,566.21
Attributable to owners of the Company as the parent 90,609,955.51 28,664,212.59
Attributable to non-controlling interests 1,021,926.89 370,353.62
8. Earnings per share
8.1 Basic earnings per share 0.0870 0.0278
8.2 Diluted earnings per share 0.0870 0.0278
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 last year being RMB0.00.
Legal representative: Liu Zhengyu Head for financial affairs: Zhao Zhongliang
Head of the financial department: Qiao Yanjun
4. Income Statement of the Company as the Parent
Unit: RMB
Item Q1 2021 Q1 2020
1. Operating revenue 296,012,899.84 83,770,856.13
Less: Cost of sales 73,071,501.55 25,213,820.41
Taxes and surcharges 92,606,628.47 23,716,419.18
Selling expense 864,810.73 747,374.05
Administrative expense 10,117,047.60 8,557,010.42
R&D expense
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ShenZhen Special Economic Zone Real Estate & Properties (Group) Co., Ltd. First Quarterly Report 2021
Finance costs -9,263,896.16 -11,823,080.33
Including: Interest expense
Interest income
Add: Other income 4,233.12 22,591.96
Return on investment (“-” for loss)
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) 586,866.00
Asset impairment loss (“-” for loss)
Asset disposal income (“-” for loss)
2. Operating profit (“-” for loss) 129,207,906.77 37,381,904.36
Add: Non-operating income 874,987.63 100,000.00
Less: Non-operating expense 500,000.00
3. Profit before tax (“-” for loss) 130,082,894.40 36,981,904.36
Less: Income tax expense 32,380,484.38 9,261,731.70
4. Net profit (“-” for net loss) 97,702,410.02 27,720,172.66
4.1 Net profit from continuing operations (“-” for net loss) 97,702,410.02 27,720,172.66
4.2 Net profit from discontinued operations (“-” for net loss)
5. Other comprehensive income, net of tax 131,893.30 166,630.34
5.1 Items that will not be reclassified to profit or loss 131,893.30 166,630.34
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 131,893.30 166,630.34
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 investments in other debt obligations
5.2.3 Other comprehensive income arising from the reclassification of
financial assets
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ShenZhen Special Economic Zone Real Estate & Properties (Group) Co., Ltd. First Quarterly Report 2021
5.2.4 Credit impairment allowance for investments in other debt obligations
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 97,834,303.32 27,886,803.00
7. Earnings per share
7.1 Basic earnings per share
7.2 Diluted earnings per share
5. Consolidated Cash Flow Statement
Unit: RMB
Item Q1 2021 Q1 2020
1. Cash flows from operating activities:
Proceeds from sale of commodities and rendering of services 560,507,403.05 261,043,476.47
Net increase in customer deposits and interbank deposits
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, handling charges and commissions received
Net increase in interbank loans obtained
Net increase in proceeds from repurchase transactions
Net proceeds from acting trading of securities
Tax rebates
Cash generated from other operating activities 20,892,855.06 29,955,959.84
Subtotal of cash generated from operating activities 581,400,258.11 290,999,436.31
Payments for commodities and services 72,720,627.25 97,053,822.51
Net increase in loans and advances to customers
Net increase in deposits in the central bank and in interbank
loans granted
Payments for claims on original insurance contracts
Net increase in interbank loans granted
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ShenZhen Special Economic Zone Real Estate & Properties (Group) Co., Ltd. First Quarterly Report 2021
Interest, handling charges and commissions paid
Policy dividends paid
Cash paid to and for employees 44,057,215.25 43,783,011.73
Taxes paid 80,204,553.44 499,313,151.21
Cash used in other operating activities 80,961,670.44 86,108,414.53
Subtotal of cash used in operating activities 277,944,066.38 726,258,399.98
Net cash generated from/used in operating activities 303,456,191.73 -435,258,963.67
2. Cash flows from investing activities:
Proceeds from disinvestment
Return on investment
Net proceeds from the disposal of fixed assets, intangible assets
1,000.00
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 1,000.00
Payments for the acquisition of fixed assets, intangible assets and
182,616.13 28,007.52
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
Subtotal of cash used in investing activities 182,616.13 28,007.52
Net cash generated from/used in investing activities -182,616.13 -27,007.52
3. Cash flows from financing activities:
Capital contributions received
Including: Capital contributions by non-controlling interests to
subsidiaries
Borrowings raised
Cash generated from other financing activities
Subtotal of cash generated from financing activities
Repayment of borrowings
Interest and dividends paid
Including: Dividends paid by subsidiaries to non-controlling
interests
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ShenZhen Special Economic Zone Real Estate & Properties (Group) Co., Ltd. First Quarterly Report 2021
Cash used in other financing activities
Subtotal of cash used in financing activities
Net cash generated from/used in financing activities
4. Effect of foreign exchange rates changes on cash and cash
-45,379.25 126,842.30
equivalents
5. Net increase in cash and cash equivalents 303,228,196.35 -435,159,128.89
Add: Cash and cash equivalents, beginning of the period 2,669,103,926.82 1,507,189,760.35
6. Cash and cash equivalents, end of the period 2,972,332,123.17 1,072,030,631.46
6. Cash Flow Statement of the Company as the Parent
Unit: RMB
Item Q1 2021 Q1 2020
1. Cash flows from operating activities:
Proceeds from sale of commodities and rendering of services 406,092,125.30 76,737,396.13
Tax rebates
Cash generated from other operating activities 3,998,738.95 3,015,470.24
Subtotal of cash generated from operating activities 410,090,864.25 79,752,866.37
Payments for commodities and services 1,449,991.73 8,991,236.23
Cash paid to and for employees 10,685,559.65 9,672,170.29
Taxes paid 51,742,417.93 45,295,329.10
Cash used in other operating activities 11,279,062.55 262,405,440.61
Subtotal of cash used in operating activities 75,157,031.86 326,364,176.23
Net cash generated from/used in operating activities 334,933,832.39 -246,611,309.86
2. Cash flows from investing activities:
Proceeds from disinvestment
Return on investment
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
Payments for the acquisition of fixed assets, intangible assets and
38,406.00 26,150.00
other long-lived assets
Payments for investments
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ShenZhen Special Economic Zone Real Estate & Properties (Group) Co., Ltd. First Quarterly Report 2021
Net payments for the acquisition of subsidiaries and other
business units
Cash used in other investing activities
Subtotal of cash used in investing activities 38,406.00 26,150.00
Net cash generated from/used in investing activities -38,406.00 -26,150.00
3. Cash flows from financing activities:
Capital contributions received
Borrowings raised
Cash generated from other financing activities
Subtotal of cash generated from financing activities
Repayment of borrowings
Interest and dividends paid
Cash used in other financing activities
Subtotal of cash used in financing activities
Net cash generated from/used in financing activities
4. Effect of foreign exchange rates changes on cash and cash
equivalents
5. Net increase in cash and cash equivalents 334,895,426.39 -246,637,459.86
Add: Cash and cash equivalents, beginning of the period 2,311,776,619.47 963,737,437.55
6. Cash and cash equivalents, end of the period 2,646,672,045.86 717,099,977.69
II Adjustments to the Financial Statements
1. Adjustments to the Financial Statements at the Beginning of the First Execution Year of the New
Standards Governing Leases from 2021
√ Applicable □ Not applicable
Whether items of the balance sheets at the beginning of the year need adjustments
□ Yes √ No
Notes to no adjustments
The leasing business of the Company is mainly renting business, all of which is operating leases without financing leases. The first
execution of the new standards governing leases does not involve retroactive adjustment of previous years, nor does it need to adjust
the items of the balance sheets at the beginning of the year.
2. Retrospective Restatement of Previous Comparative Data due to the First Execution of the New
Standards Governing Leases from 2021
□ Applicable √ Not applicable
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ShenZhen Special Economic Zone Real Estate & Properties (Group) Co., Ltd. First Quarterly Report 2021
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.
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