Report for the First Quarter of 2014 of Shenzhen Properties & Resources Development (Group) Ltd.
Shenzhen Properties & Resources Development (Group) Ltd.
Report for the First Quarter of 2014
Apr. 2014
1
Report for the First Quarter of 2014 of Shenzhen Properties & Resources Development (Group) Ltd.
Section I. Important Reminders
The Board of Directors, the Supervisory Committee, directors, supervisors and senior management staff of
Shenzhen Properties & Resources Development (Group) Ltd. (hereinafter referred to as “the Company”) warrant
that the information carried in this report is factual, accurate and complete, without any false record, misleading
statement or material omission. And they shall be jointly and severally liable for that.
Mr. Chen Yugang, company principal, Mr. Wang Hangjun, chief of the accounting work, Mr. Gong Sixin, CFO
and Ms. Shen Xueying, chief of the accounting organ (chief of accounting), hereby confirm that the financial
statements enclosed in this report are factual, accurate and complete.
All directors have attended the board session for reviewing this report.
This report is prepared in both Chinese and English. Should there be any discrepancy between the two versions,
the Chinese version shall prevail.
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Report for the First Quarter of 2014 of Shenzhen Properties & Resources Development (Group) Ltd.
Section II. Financial Highlights & Change of Shareholders
I. Major accounting data and financial indexes
Does the Company adjust retrospectively or restate accounting data of previous years due to change of the accounting policy or
correction of any accounting error?
□ Yes √ No
Jan.-Mar. 2014 Jan.-Mar. 2013 YoY increase/decrease (%)
Operating revenues (RMB Yuan) 194,462,902.01 876,432,175.84 -77.81%
Net profit attributable to shareholders of
27,725,441.51 236,360,598.97 -88.27%
the Company (RMB Yuan)
Net profit attributable to shareholders of
the Company after extraordinary gains and 24,910,981.85 236,147,522.85 -89.45%
losses (RMB Yuan)
Net cash flows from operating activities
-33,493,465.85 94,342,037.44 -135.5%
(RMB Yuan)
Basic EPS (RMB Yuan/share) 0.0465 0.3966 -88.28%
Diluted EPS (RMB Yuan/share) 0.0465 0.3966 -88.28%
Weighted average ROE (%) 1.53% 14.58% -13.05%
31 Mar. 2014 31 Dec. 2013 Increase/decrease (%)
Total assets (RMB Yuan) 3,768,575,907.05 3,873,252,714.32 -2.7%
Net assets attributable to shareholders of
1,830,091,671.56 1,802,781,292.68 1.51%
the Company (RMB Yuan)
Items and amounts of extraordinary gains and losses
√Applicable □Inapplicable
Unit: RMB Yuan
Item Amount as of Jan.-Mar. 2014 Note
Gains/losses on the disposal of non-current assets (including the Gain on disposal of investing real
3,318,784.27
offset part of asset impairment provisions) estate
Other non-operating income and expenses other than the above 358,997.92
Less: Income tax effects 863,322.53
Total 2,814,459.66 --
Explain the reasons if the Company classifies an item as an extraordinary gain/loss according to the definition in the Explanatory
Announcement No. 1 on Information Disclosure for Companies Offering Their Securities to the Public—Extraordinary Gains and
Losses, or classifies any extraordinary gain/loss item mentioned in the said explanatory announcement as a recurrent gain/loss item
□ Applicable √ Inapplicable
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Report for the First Quarter of 2014 of Shenzhen Properties & Resources Development (Group) Ltd.
II. Total number of shareholders at the period-end and shares held by the top ten
shareholders
Unit: Share
Total number of shareholders at the
44,249
period-end
Shares held by the top ten shareholders
Number of the Pledged or frozen shares
Nature of Shareholding Number of the
Name of shareholder restricted shares Number of
shareholder percentage (%) shares held Status of shares
held shares
SHENZHEN Pledged 0
State-owned
CONSTRUCTION
corporation
INVESTMENT 54.33% 323,796,324 293,997,370
State-owned Frozen 0
HOLDINGS
corporation
CORPORATION
SHENZHEN Pledged 0
INVESTMENT State-owned
9.49% 56,582,573 56,582,573
MANAGEMENT corporation Frozen 0
CORPORATION
SHENZHEN Pledged 0
GUOMAO
State-owned
PROPERTY 0.32% 1,881,841 0
corporation Frozen 0
MANAGERMENT
CO., LTD.
SHENZHEN Pledged 0
DUTY-FREE Domestic
COMMODITY non-state-owned 0.29% 1,730,300 1,730,300
Frozen 0
ENTERPRISES corporation
CO., LTD.
Domestic natural Pledged 0
Zhou Kechan 0.23% 1,376,800 0
person Frozen 0
Domestic natural Pledged 0
Long Keyi 0.19% 1,102,600 0
person Frozen 0
Domestic natural Pledged 0
Liu Yunde 0.18% 1,100,400 0
person Frozen 0
Domestic natural Pledged 0
Chen Liying 0.17% 1,036,051 0
person Frozen 0
GUOTAI JUNAN Foreign Pledged 0
0.17% 987,500 0
SECURITIES corporation Frozen 0
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Report for the First Quarter of 2014 of Shenzhen Properties & Resources Development (Group) Ltd.
(HONGKONG)
LIMITED
Domestic natural Pledged 0
Zhong Laiqun 0.14% 812,700 0
person Frozen 0
Shares held by the top ten non-restricted share holders
Type of shares
Name of shareholder Number of non-restricted shares held
Type Number
SHENZHEN CONSTRUCTION
RMB ordinary
INVESTMENT HOLDINGS 29,798,954 29,798,954
shares
CORPORATION
SHENZHEN GUOMAO PROPERTY RMB ordinary
1,881,841 1,881,841
MANAGERMENT CO., LTD. shares
RMB ordinary
Zhou Kechan 1,376,800 1,376,800
shares
RMB ordinary
Long Keyi 1,102,600 1,102,600
shares
RMB ordinary
Liu Yunde 1,100,400 1,100,400
shares
Domestically
Chen Liying 1,036,051 listed foreign 1,036,051
shares
Domestically
GUOTAI JUNAN SECURITIES
987,500 listed foreign 987,500
(HONGKONG) LIMITED
shares
RMB ordinary
Zhong Laiqun 812,700 812,700
shares
RMB ordinary
Huang Fenghua 793,437 793,437
shares
China and Kazakhstan Hope
RMB ordinary
Mechanical & Electrical Equipment 783,300 783,300
shares
(Beijing) Co., Ltd.
The first shareholder is managed by Shenzhen Investment Holding Corporation, the actual
Explanation on associated relationship
controlling shareholder of the Company. And the second shareholder is a wholly-funded
or persons acting in concert among the
subsidiary of the Company. Other than that, it is unknown whether the remaining 8
above-mentioned shareholders
shareholders are related parties or acting-in-concert parties.
Shareholders taking part in margin
financing and securities lending (if Naught
any)
Did any shareholder of the Company carry out an agreed buy-back in the reporting period?
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Report for the First Quarter of 2014 of Shenzhen Properties & Resources Development (Group) Ltd.
□ Yes √ No
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Report for the First Quarter of 2014 of Shenzhen Properties & Resources Development (Group) Ltd.
Section III. Significant Events
I. Significant changes of the major accounting statement items and financial indicators for the
reporting period, as well as the reasons for these changes
1. Other receivables stood at RMB 10,321,969.11 at the end of the reporting period, up 30.34% from the opening
amount, which was mainly because the utilities that were paid by subsidiaries on behalf of their clients and not yet
cleared with them, etc. increased.
2. Short-term borrowings stood at RMB 180,000,000.00 at the end of the reporting period, down 40.00% from the
opening amount, which was mainly because the mature borrowings were repaid in the reporting period.
3. Operating revenues for the reporting period stood at RMB 194,462,902.01, down 77.81% from the same period
of last year, which was mainly because in the same period of last year, the Caitianyise project reached the
conditions to carry over income and the incomes available for carryover were all settled in that period.
4. Operating costs for the reporting period stood at RMB 99,128,200.24, down 71.63% from the same period of
last year, which was mainly because the area of real estate available for income carryover decreased.
5. Business tax and surtaxes for the reporting period stood at RMB 35,390,468.29, down 81.44% from the same
period of last year, which was mainly because the real estate income decreased and the business tax, land VAT
and other taxes and fares decreased accordingly.
6. Selling expenses for the reporting period stood at RMB 1,632,556.99, down 31.13% from the same period of
last year, which was mainly because the Company enhanced cost control and brought down the marketing
expenses.
7. Financial expenses for the reporting period stood at RMB -3,070,845.42 and the amount for the same period of
last year at RMB -2,062,675.50, with both being income and the former up 48.88% from the latter, which was
mainly because the interest income increased.
8. Investment gain for the reporting period stood at RMB 519,419.20, down 68.35% from the same period of last
year, which was mainly because the gain on joint ventures decreased.
9. Investment gain on associates and joint ventures for the reporting period stood at RMB 519,419.20, down
68.35% from the same period of last year, which was mainly because joint venture Shenzhen Guomao Tian’an
Properties Co., Ltd recorded decreased profit.
10. Net non-operating income for the reporting period stood at RMB 358,997.92, up 127.72% from the same
period of last year, which was mainly because the fine and confiscation income increased.
11. Income tax expenses for the reporting period stood at RMB 9,876,642.47, down 87.06% from the same period
of last year, which was mainly because the profit decreased.
12. Operating profit, total profit and net profit (attributable to the Company) for the reporting period stood at
RMB 37,243,086.06, RMB 37,602,083.98 and RMB 27,725,441.51 respectively, down 88.08%, 87.97% and
88.27% respectively from the same period of last year, which was mainly because the real estate area available for
settlement decreased, causing a considerable decrease in the real estate income.
13. Net cash flows from operating activities for the reporting period stood at RMB -33,493,465.85, down 135.50%
from the same period of last year, which was mainly because the incoming funds from sale of houses decreased.
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Report for the First Quarter of 2014 of Shenzhen Properties & Resources Development (Group) Ltd.
14. Net cash flows from investing activities for the reporting period stood at RMB -692,619.00, with the net cash
outflows down 44.23% from the same period of last year, which was mainly because the incoming funds from
disposal of old vehicles in the vehicle renewal by subsidiaries increased and the outgoing funds for acquisition of
fixed assets decreased.
15. Net cash flows from financing activities for the reporting period stood at RMB -130,737,637.64, with the net
cash outflows down 45.54% from the same period of last year, which was mainly because cash repayments
decreased.
II. Progress and influence of significant events, as well as the analysis and explanation on
solutions
The Company made the board of director resolution on the 4th Session of the 7th Board of Directors on 25 Nov.
2011, which planed to make bankruptcy liquidation of the subordinate wholly-owned subsidiary—Hainan Xinda
Development Corporation (hereinafter referred to as “Hainan Company”) (see details to the Announcement on the
Resolution of the Board of Directors disclosed on 28 Nov. 2011). On 26 Sep. 2013, the Company based on the
reason that Hainan Company had been in the serious deficit state for years which could not pay off the matured
debts, applied for the bankruptcy liquidation of Hainan Company to the Haikou Intermediate People's Court in
Hainan Province (hereinafter referred to as “Haikou Intermediate Court”).
On 14 Mar.2014, the Company received the Civil Ruling Paper of (2013) HZFP(Y) Z No. 7 which issued by
Haikou Intermediate Court, of which the relevant situations of the judgment and acceptance of the application of
the Company for the bankruptcy liquidation of Hainan Company were as follows:
The Haikou Intermediate Court considered that: because the domicile of Xinda Company was in Xinda Business
Building, No. 48 of Guomao Road, Haikou and the Company was approved and registered by Industrial and
commercial Administration Bureau of Hainan Province, the Haikou Intermediate Court had the right of
jurisdiction of the case. Because the Xinda Company could not pay off the matured debts, the Shenzhen Properties
& Resources Development (Group) Ltd. put forward that the application of the bankruptcy liquidation of the
Xinda Company was met with the acceptance conditions. According to the regulations of the first paragraph of
article 2, the article 3 and the second paragraph of article 7 of The Enterprise Bankruptcy Law of PRC, the
verdicts were as follows: accepted the application of the proposer—Shenzhen Properties & Resources
Development (Group) Ltd. of the bankruptcy liquidation of the respondent--Hainan Xinda Development
Corporation and the verdict came into affect from the date.
The Company had made full provision of the accounting of the Hainan Company and the bankruptcy liquidation
had no influence on the financial condition of the Company.
Website index to the disclosed relevant
Overview of the significant event Date of disclosure
interim report
Announcement on the Process of the
Bankruptcy Liquidation of the Hainan 15 Mar. 2014 http//www.cninfo.com.cn
Company
III. Commitments made by the Company or shareholders holding over 5% of the Company’s
shares in the reporting period or such commitments carried down into the reporting period
Naught
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Report for the First Quarter of 2014 of Shenzhen Properties & Resources Development (Group) Ltd.
IV. Predict the operating results of Jan.-Jun. 2014
Warning of possible loss or considerable YoY change of the accumulated net profit made during the period-begin to the end of the
next reporting period according to prediction, as well as explanations on the reasons:
√ Applicable □ Inapplicable
Prediction: significant increase in the same direction
Type of the predicted data: exact quantity
Jan.-Jun. 2014 Jan.-Jun. 2013 +/- (%)
Predicted accumulative net
12,000 35,360 Down 66.06%
profit (RMB Ten thousand)
Basic EPS (RMB Yuan/share) 0.2013 0.5933 Down 66.06%
Main reason for the considerable fluctuation of the business results: 1. There was no any newly
increased sales project during the reporting period and project sold was mainly the remaining
building, which led the sales income achieved decreased over the same period of last year; 2. The
“SZPRD Caitianyise” Project of the same period of last year satisfied the conditions for carrying
over into income in the reporting period. The part that could be carried over into income was mostly
Explanation about the
settled in the same period of last year, resulting in a considerable decrease of the total
predictions
available-for-settlement area of Jan.-Jun. 2014 over the same period of last year. The aforesaid
estimate was preliminary measurement given by the Company according to the current sales
situation of real estate projects. Investors are kindly reminded to be noted that the actual earnings of
the Company for Jan.-Jun. 2014 shall be subject to data disclosed in the Company’s 2014
Semi-annual Report.
V. Securities investment
Code of Abbreviati Intial investment Percentage Equity changes
securities on of amount of equities Gain/loss for report of the owner in Accounting Source of
Closing book value
securities period the reporting title stock
period
000509 *ST China 2,962,500.00 0.10% 802,199.55 0.00 0.00 Long-term Directional
Plastic equity purchase of
investment the corporate
shares
Total 2,962,500.00 - 802,199.55 0.00 0.00
VI. Investments in derivatives
Naught
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Report for the First Quarter of 2014 of Shenzhen Properties & Resources Development (Group) Ltd.
VII. Researches, visits and interviews received in the reporting period
Main discussion and
Time of reception Place of reception Way of reception Visitor type Visitor materials provided by the
Company
The Shenzhen
Situation of the overweight
Stock Exchange
8 Jan. 2014 Other Individual Investor of the shares of the
Investors
Company.
interactive platform
The Shenzhen
Stock Exchange Situation of the dividends
3 Feb. 2014 Other Individual Investor
Investors of the Company.
interactive platform
The Shenzhen
Situation of the
Stock Exchange
9 Feb. 2014 Other Individual Investor construction of the
Investors
Dongguan Project.
interactive platform
The Shenzhen
Stock Exchange Situation of the sales of the
10 Feb. 2014 Other Individual Investor
Investors Xuzhou Project
interactive platform
The Shenzhen
Stock Exchange Situation of the Company’s
4 Mar. 2014 Other Individual Investor
Investors earnings preannouncement.
interactive platform
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Report for the First Quarter of 2014 of Shenzhen Properties & Resources Development (Group) Ltd.
Section IV. Financial Statements
I. Financial statements
1. Consolidated balance sheet
Prepared by Shenzhen Properties & Resources Development (Group) Ltd.
Unit: RMB Yuan
Item Closing balance Opening balance
Current Assets:
Monetary funds 812,653,140.95 977,171,814.20
Settlement reserves
Intra-group lendings
Transactional financial assets
Notes receivable
Accounts receivable 27,803,524.05 22,208,022.21
Accounts paid in advance 38,427,463.73 35,904,799.33
Premiums receivable
Reinsurance premiums receivable
Receivable reinsurance contract
reserves
Interest receivable
Dividend receivable
Other accounts receivable 10,321,969.11 7,919,365.82
Financial assets purchased under
agreements to resell
Inventories 2,160,918,309.67 2,101,399,879.93
Non-current assets due within 1 year
Other current assets
Total current assets 3,050,124,407.51 3,144,603,881.49
Non-current assets:
Loans by mandate and advances
granted
Available-for-sale financial assets
Held-to-maturity investments
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Report for the First Quarter of 2014 of Shenzhen Properties & Resources Development (Group) Ltd.
Long-term accounts receivable
Long-term equity investment 78,933,550.42 78,414,131.22
Investing property 267,927,447.04 273,314,623.03
Fixed assets 71,949,496.17 75,301,015.72
Construction in progress
Engineering materials
Disposal of fixed assets
Production biological assets
Oil-gas assets
Intangible assets 105,156,964.31 106,945,090.07
R&D expense
Goodwill
Long-term deferred expenses 2,949,301.25 3,081,383.99
Deferred income tax assets 191,534,740.35 191,592,588.80
Other non-current assets
Total of non-current assets 718,451,499.54 728,648,832.83
Total assets 3,768,575,907.05 3,873,252,714.32
Current liabilities:
Short-term borrowings 180,000,000.00 300,000,000.00
Borrowings from Central Bank
Customer bank deposits and due to
banks and other financial institutions
Intra-group borrowings
Transactional financial liabilities
Notes payable
Accounts payable 236,748,987.85 265,697,047.64
Accounts received in advance 150,089,069.75 141,082,677.48
Financial assets sold for repurchase
Handling charges and commissions
payable
Employee’s compensation payable 53,888,041.92 50,023,230.98
Tax payable 875,233,112.74 865,513,058.59
Interest payable 713,429.72 934,568.21
Dividend payable
Other accounts payable 121,925,658.65 123,967,110.64
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Report for the First Quarter of 2014 of Shenzhen Properties & Resources Development (Group) Ltd.
Reinsurance premiums payable
Insurance contract reserves
Payables for acting trading of
securities
Payables for acting underwriting of
securities
Non-current liabilities due within 1
68,543,221.61 67,009,888.28
year
Other current liabilities
Total current liabilities 1,687,141,522.24 1,814,227,581.82
Non-current liabilities:
Long-term borrowings 111,243,352.00 116,243,352.00
Bonds payable
Long-term payables
Specific payables
Estimated liabilities
Deferred income tax liabilities
Other non-current liabilities 139,237,274.19 139,138,400.76
Total non-current liabilities 250,480,626.19 255,381,752.76
Total liabilities 1,937,622,148.43 2,069,609,334.58
Owners’ equity (or shareholders’
equity)
Paid-up capital (or share capital) 595,979,092.00 595,979,092.00
Capital reserves 120,086,646.43 120,086,646.43
Less: Treasury stock
Specific reserves
Surplus reserves 121,542,385.81 121,542,385.81
Provisions for general risks
Retained profits 999,997,326.46 972,271,884.95
Foreign exchange difference -7,513,779.14 -7,098,716.51
Total equity attributable to owners of
1,830,091,671.56 1,802,781,292.68
the Company
Minority interests 862,087.06 862,087.06
Total owners’ (or shareholders’) equity 1,830,953,758.62 1,803,643,379.74
Total liabilities and owners’ (or
3,768,575,907.05 3,873,252,714.32
shareholders’) equity
13
Report for the First Quarter of 2014 of Shenzhen Properties & Resources Development (Group) Ltd.
Legal representative: Chen Yugang Person-in-charge of the accounting work: Wang Hangjun
Chief of the accounting division: Shen Xueying
2. Balance sheet of the Company
Prepared by Shenzhen Properties & Resources Development (Group) Ltd.
Unit: RMB Yuan
Item Closing balance Opening balance
Current Assets:
Monetary funds 315,337,868.46 420,568,966.65
Transactional financial assets
Notes receivable
Accounts receivable 976,243.99 1,158,087.49
Accounts paid in advance 1,168,707.48 429,546.00
Interest receivable 631,400.00
Dividend receivable
Other accounts receivable 1,566,369,410.82 1,104,282,291.68
Inventories 328,592,796.02 326,684,862.09
Non-current assets due within 1 year
Other current assets 150,000,000.00
Total current assets 2,212,445,026.77 2,003,755,153.91
Non-current assets:
Available-for-sale financial assets
Held-to-maturity investments
Long-term accounts receivable
Long-term equity investment 311,221,311.40 310,701,892.20
Investing property 178,160,472.15 181,492,088.46
Fixed assets 15,264,712.12 15,709,482.23
Construction in progress
Engineering materials
Disposal of fixed assets
Production biological assets
Oil-gas assets
Intangible assets
R&D expense
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Report for the First Quarter of 2014 of Shenzhen Properties & Resources Development (Group) Ltd.
Goodwill
Long-term deferred expenses 1,600,029.90 1,643,273.97
Deferred income tax assets
Other non-current assets 130,000,000.00
Total of non-current assets 506,246,525.57 639,546,736.86
Total assets 2,718,691,552.34 2,643,301,890.77
Current liabilities:
Short-term borrowings 120,000,000.00 240,000,000.00
Transactional financial liabilities
Notes payable
Accounts payable 27,494,828.86 28,121,986.86
Accounts received in advance 12,352,200.00 12,801,629.50
Employee’s compensation payable 10,468,494.10 8,230,148.81
Tax payable 1,603,893.92 2,051,845.65
Interest payable 220,000.00 433,972.60
Dividend payable
Other accounts payable 1,070,103,315.67 1,136,178,056.53
Non-current liabilities due within 1
year
Other current liabilities
Total current liabilities 1,242,242,732.55 1,427,817,639.95
Non-current liabilities:
Long-term borrowings 260,000,000.00
Bonds payable
Long-term payables
Specific payables
Estimated liabilities
Deferred income tax liabilities
Other non-current liabilities
Total non-current liabilities 260,000,000.00
Total liabilities 1,502,242,732.55 1,427,817,639.95
Owners’ equity (or shareholders’
equity)
Paid-up capital (or share capital) 595,979,092.00 595,979,092.00
Capital reserves 94,057,859.68 94,057,859.68
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Report for the First Quarter of 2014 of Shenzhen Properties & Resources Development (Group) Ltd.
Less: Treasury stock
Specific reserves
Surplus reserves 120,885,575.37 120,885,575.37
Provisions for general risks
Retained profits 405,526,292.74 404,561,723.77
Foreign exchange difference
Total owners’ (or shareholders’) equity 1,216,448,819.79 1,215,484,250.82
Total liabilities and owners’ (or
2,718,691,552.34 2,643,301,890.77
shareholders’) equity
Legal representative: Chen Yugang Person-in-charge of the accounting work: Wang Hangjun
Chief of the accounting division: Shen Xueying
3. Consolidated income statement
Prepared by Shenzhen Properties & Resources Development (Group) Ltd.
Unit: RMB Yuan
Item Jan.-Mar. 2014 Jan.-Mar. 2013
I. Operating revenues 194,462,902.01 876,432,175.84
Including: Sales income 194,462,902.01 876,432,175.84
Interest income
Premium income
Handling charge and
commission income
II. Total operating cost 157,739,235.15 565,550,194.14
Including: Cost of sales 99,128,200.24 349,454,161.89
Interest expenses
Handling charge and
commission expenses
Surrenders
Net claims paid
Net amount withdrawn for the
insurance contract reserve
Expenditure on policy dividends
Reinsurance premium
Taxes and associate charges 35,390,468.29 190,690,106.03
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Report for the First Quarter of 2014 of Shenzhen Properties & Resources Development (Group) Ltd.
Selling and distribution expenses 1,632,556.99 2,370,494.97
Administrative expenses 24,658,855.05 25,098,106.75
Financial expenses -3,070,845.42 -2,062,675.50
Asset impairment loss
Add: Gain/(loss) from change in fair
value (“-” means loss)
Gain/(loss) from investment (“-”
519,419.20 1,641,004.15
means loss)
Including: share of profits in associates
519,419.20 1,641,004.15
and joint ventures
Foreign exchange gains (“-” means
loss)
III. Business profit (“-” means loss) 37,243,086.06 312,522,985.85
Add: non-operating income 369,039.53 -67,667.25
Less: non-operating expense 10,041.61 -225,318.62
Including: loss from non-current asset
2,187.01
disposal
IV. Total profit (“-” means loss) 37,602,083.98 312,680,637.22
Less: Income tax expense 9,876,642.47 76,320,038.25
V. Net profit (“-” means loss) 27,725,441.51 236,360,598.97
Including: Net profit achieved by
combined parties before the
combinations
Attributable to owners of the
27,725,441.51 236,360,598.97
Company
Minority shareholders’ income
VI. Earnings per share -- --
(I) Basic earnings per share 0.0465 0.3966
(II) Diluted earnings per share 0.0465 0.3966
VII. Other comprehensive incomes -415,062.63 263,762.81
VIII. Total comprehensive incomes 27,310,378.88 236,624,361.78
Attributable to owners of the
27,310,378.88 236,624,361.78
Company
Attributable to minority
shareholders
Legal representative: Chen Yugang Person-in-charge of the accounting work: Wang Hangjun
17
Report for the First Quarter of 2014 of Shenzhen Properties & Resources Development (Group) Ltd.
Chief of the accounting division: Shen Xueying
4. Income statement of the Company
Prepared by Shenzhen Properties & Resources Development (Group) Ltd.
Unit: RMB Yuan
Item Jan.-Mar. 2014 Jan.-Mar. 2013
I. Sales income 12,230,762.00 12,703,771.79
Less: cost of sales 4,263,271.83 5,496,276.74
Business taxes and surcharges 1,698,362.81 2,033,707.65
Distribution expenses
Administrative expenses 9,175,383.85 9,467,112.70
Financial costs -38,358.72 -987,296.04
Impairment loss 92,383.07 49,790.13
Add: gain/(loss) from change in fair
value (“-” means loss)
Gain/(loss) from investment (“-” means
3,897,819.20 10,551,004.15
loss)
Including: income form investment on
519,419.20 1,641,004.15
associates and joint ventures
II. Business profit (“-” means loss) 937,538.36 7,195,184.76
Add: non-business income 27,030.61 128,384.00
Less: non-business expense 2,187.01
Including: loss from non-current asset
2,187.01
disposal
III. Total profit (“-” means loss) 964,568.97 7,321,381.75
Less: income tax expense
IV. Net profit (“-” means loss) 964,568.97 7,321,381.75
V. Earnings per share -- --
(I) Basic earnings per share 0.0016 0.0123
(II) Diluted earnings per share 0.0016 0.0123
VI. Other comprehensive income
VII. Total comprehensive income 964,568.97 7,321,381.75
Legal representative: Chen Yugang Person-in-charge of the accounting work: Wang Hangjun
Chief of the accounting division: Shen Xueying
18
Report for the First Quarter of 2014 of Shenzhen Properties & Resources Development (Group) Ltd.
5. Consolidated cash flow statement
Prepared by Shenzhen Properties & Resources Development (Group) Ltd.
Unit: RMB Yuan
Item Jan.-Mar. 2014 Jan.-Mar. 2013
I. Cash flows from operating activities:
Cash received from sale of
214,711,207.68 356,466,943.51
commodities and rendering of service
Net increase of deposits from
customers and dues from banks
Net increase of loans from the central
bank
Net increase of funds borrowed from
other financial institutions
Cash received from premium of
original insurance contracts
Net cash received from reinsurance
business
Net increase of deposits of policy
holders and investment fund
Net increase of disposal of tradable
financial assets
Cash received from interest, handling
charges and commissions
Net increase of intra-group
borrowings
Net increase of funds in repurchase
business
Tax refunds received
Other cash received relating to
5,748,576.80 15,570,116.13
operating activities
Subtotal of cash inflows from operating
220,459,784.48 372,037,059.64
activities
Cash paid for goods and services 130,670,702.37 125,769,405.55
Net increase of customer lendings
and advances
Net increase of funds deposited in the
central bank and amount due from
banks
19
Report for the First Quarter of 2014 of Shenzhen Properties & Resources Development (Group) Ltd.
Cash for paying claims of the original
insurance contracts
Cash for paying interest, handling
charges and commissions
Cash for paying policy dividends
Cash paid to and for employees 62,076,065.42 61,266,668.10
Various taxes paid 38,825,818.53 54,479,606.75
Other cash payment relating to
22,380,664.01 36,179,341.80
operating activities
Subtotal of cash outflows from
253,953,250.33 277,695,022.20
operating activities
Net cash flows from operating activities -33,493,465.85 94,342,037.44
II. Cash flows from investing activities:
Cash received from withdrawal of
investments
Cash received from return on
investments
Net cash received from disposal of
fixed assets, intangible assets and other 273,000.00 4,198.00
long-term assets
Net cash received from disposal of
subsidiaries or other business units
Other cash received relating to
investing activities
Subtotal of cash inflows from
273,000.00 4,198.00
investing activities
Cash paid to acquire fixed assets,
intangible assets and other long-term 965,619.00 1,246,198.30
assets
Cash paid for investment
Net increase of pledged loans
Net cash paid to acquire subsidiaries
and other business units
Other cash payments relating to
investing activities
Subtotal of cash outflows from
965,619.00 1,246,198.30
investing activities
Net cash flows from investing activities -692,619.00 -1,242,000.30
20
Report for the First Quarter of 2014 of Shenzhen Properties & Resources Development (Group) Ltd.
III. Cash Flows from Financing
Activities:
Cash received from capital
contributions
Including: Cash received from
minority shareholder investments by
subsidiaries
Cash received from borrowings 9,785,803.00
Cash received from issuance of
bonds
Other cash received relating to
financing activities
Subtotal of cash inflows from financing
9,785,803.00
activities
Repayment of borrowings 123,466,666.67 242,716,666.67
Cash paid for interest expenses and
7,182,970.97 7,120,339.98
distribution of dividends or profit
Including: dividends or profit paid
by subsidiaries to minority shareholders
Other cash payments relating to
88,000.00
financing activities
Sub-total of cash outflows from
130,737,637.64 249,837,006.65
financing activities
Net cash flows from financing activities -130,737,637.64 -240,051,203.65
IV. Effect of foreign exchange rate
405,049.24 -19,176.32
changes on cash and cash equivalents
V. Net increase in cash and cash
-164,518,673.25 -146,970,342.83
equivalents
Add: Opening balance of cash and
977,171,814.20 797,724,311.37
cash equivalents
VI. Closing balance of cash and cash
812,653,140.95 650,753,968.54
equivalents
Legal representative: Chen Yugang Person-in-charge of the accounting work: Wang Hangjun
Chief of the accounting division: Shen Xueying
6. Cash flow statement of the Company
Prepared by Shenzhen Properties & Resources Development (Group) Ltd.
21
Report for the First Quarter of 2014 of Shenzhen Properties & Resources Development (Group) Ltd.
Unit: RMB Yuan
Item Jan.-Mar. 2014 Jan.-Mar. 2013
I. Cash flows from operating activities:
Cash received from sale of
11,794,372.00 12,635,373.50
commodities and rendering of service
Tax refunds received
Other cash received relating to
32,132,638.04 187,790,573.66
operating activities
Subtotal of cash inflows from operating
43,927,010.04 200,425,947.16
activities
Cash paid for goods and services 1,955,008.94 786,302.77
Cash paid to and for employees 3,653,091.62 2,852,904.48
Various taxes paid 2,608,644.61 2,597,792.56
Other cash payment relating to
561,398,481.06 371,628,646.44
operating activities
Subtotal of cash outflows from
569,615,226.23 377,865,646.25
operating activities
Net cash flows from operating activities -525,688,216.19 -177,439,699.09
II. Cash flows from investing activities:
Cash received from retraction of
280,000,000.00
investments
Cash received from return on
4,009,800.00 8,910,000.00
investments
Net cash received from disposal of
fixed assets, intangible assets and other 4,198.00
long-term assets
Net cash received from disposal of
subsidiaries or other business units
Other cash received relating to
investing activities
Subtotal of cash inflows from
284,009,800.00 8,914,198.00
investing activities
Cash paid to acquire fixed assets,
intangible assets and other long-term 224,682.00 365,869.00
assets
Cash paid for investment
Net cash paid to acquire subsidiaries
and other business units
22
Report for the First Quarter of 2014 of Shenzhen Properties & Resources Development (Group) Ltd.
Other cash payments relating to
investing activities
Subtotal of cash outflows from
224,682.00 365,869.00
investing activities
Net cash flows from investing activities 283,785,118.00 8,548,329.00
III. Cash Flows from Financing
Activities:
Cash received from capital
contributions
Cash received from borrowings 260,000,000.00
Cash received from issuance of
bonds
Other cash received relating to
financing activities
Subtotal of cash inflows from financing
260,000,000.00
activities
Repayment of borrowings 120,000,000.00
Cash paid for interest expenses and
3,240,000.00
distribution of dividends or profit
Other cash payments relating to
88,000.00
financing activities
Sub-total of cash outflows from
123,328,000.00
financing activities
Net cash flows from financing activities 136,672,000.00
IV. Effect of foreign exchange rate
changes on cash and cash equivalents
V. Net increase in cash and cash
-105,231,098.19 -168,891,370.09
equivalents
Add: Opening balance of cash and
420,568,966.65 399,641,751.92
cash equivalents
VI. Closing balance of cash and cash
315,337,868.46 230,750,381.83
equivalents
Legal representative: Chen Yugang Person-in-charge of the accounting work: Wang Hangjun
Chief of the accounting division: Shen Xueying
23
Report for the First Quarter of 2014 of Shenzhen Properties & Resources Development (Group) Ltd.
II. Audit report
Is this report audited?
□ Yes √ No
This report is not audited.
24
