Report for the Third Quarter of 2014 of Shenzhen Properties & Resources Development (Group) Ltd.
SHENZHEN PROPERTIES & RESOURCES
DEVELOPMENT (GROUP) LTD.
Report for the Third Quarter of 2014
2014-31
October 2014
1
Report for the Third Quarter of 2014 of Shenzhen Properties & Resources Development (Group) Ltd.
Section I. Important Reminders
The Board of Directors, the Supervisory Committee as well as all directors, supervisors and senior management
staff of Shenzhen Properties & Resources Development (Group) Ltd. (hereinafter referred to as “the Company”)
warrant that this report is factual, accurate and complete without any false record, misleading statement or
material omission. And they shall be jointly and severally liable for that.
All directors attended the board session for reviewing this report.
Mr. Chen Yugang, company principal, Mr. Wang Hangjun, chief of the accounting work, and Ms. Shen Xueying,
chief of the accounting organ (chief of accounting), hereby confirm that the Financial Report enclosed in this
report is factual, accurate and complete.
This report is prepared in both Chinese and English. Should there be any discrepancy between the two versions,
the Chinese version shall prevail.
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Report for the Third 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
30 Sept. 2014 31 Dec. 2013 Increase/decrease (%)
Total assets (RMB Yuan) 4,027,219,661.56 3,873,252,714.32 3.98%
Net assets attributable to
shareholders of the Company 1,977,386,902.89 1,802,781,292.68 9.69%
(RMB Yuan)
YoY increase/decrease YoY increase/decrease
Jul.-Sept. 2014 Jan.-Sept. 2014
(%) (%)
Operating revenues (RMB Yuan) 311,190,490.67 133.02% 812,558,050.45 -45.16%
Net profit attributable to
shareholders of the Company 211,050,899.19 7,834.77% 323,125,436.68 -9.30%
(RMB Yuan)
Net profit attributable to
shareholders of the Company after
39,877,048.38 1,015.21% 143,311,798.52 -59.74%
extraordinary gains and losses
(RMB Yuan)
Net cash flows from operating
-- -- -95,480,120.87 -224.12%
activities (RMB Yuan)
Basic EPS (RMB Yuan/share) 0.3541 7,768.89% 0.5422 -9.30%
Diluted EPS (RMB Yuan/share) 0.3541 7,768.89% 0.5422 -9.30%
Weighted average ROE (%) 11.22% 11.06% 17.17% -4.03%
Items and amounts of extraordinary gains and losses
√Applicable □Inapplicable
Unit: RMB Yuan
Item Amount as of Jan.-Sept. 2014 Note
Mainly was the transfer of the
equity of Guomao Tian’an
Gains/losses on the disposal of non-current assets (including the Properties Co., Ltd. and the
221,064,467.71
offset part of asset impairment provisions) disposal such as the fixed assets
as well as the investment
property
Reversal of impairment provisions for the accounts receivable on 15,168.75
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Report for the Third Quarter of 2014 of Shenzhen Properties & Resources Development (Group) Ltd.
which impairment tests were carried out separately
Non-operating incomes and expenses other than the above 2,401,245.93
Less: Income tax effects 43,667,244.23
Total 179,813,638.16 --
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
There was no such situation of the Company during the reporting period.
II. Total number of shareholders and shareholdings of the top ten shareholders at the
period-end
1. Total number of common shareholders and shareholdings of the top ten common shareholders at the
period-end
Unit: share
Total number of common
40,447
shareholders at the period-end
Shareholdings of the top ten common shareholders
Number of Pledged or frozen shares
Name of Nature of Shareholding Number of the
restricted shares
shareholder shareholder percentage (%) shares held Status of shares Number of shares
held
SHENZHEN
CONSTRUCTION
State-owned
INVESTMENT 54.33% 323,796.32 293,997,370
corporation
HOLDINGS
CORPORATION
SHENZHEN
INVESTMENT State-owned
9.49% 56,582,573 56,582,573
MANAGEMENT corporation
CORPORATION
SHENZHEN
DUTY-FREE Domestic
COMMODITY non-state-owned 0.29% 1,730,300 1,730,300
ENTERPRISES corporation
CO., LTD.
Domestic
Li Jing 0.25% 1,504,192
individual
Zhou Kecan Domestic 0.24% 1,427,200
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Report for the Third Quarter of 2014 of Shenzhen Properties & Resources Development (Group) Ltd.
individual
Domestic
Long Keyi 0.19% 1,100,600
individual
Foreign
Li Ziying 0.17% 1,091,680
individual
Domestic
Chen Liying 0.17% 1,036,051
individual
Domestic
Liu Liaoyuan 0.16% 960,132
individual
SHENZHEN
GUOMAO
State-owned
PROPERTY 0.14% 861,783
corporation
MANAGERMENT
CO., LTD.
Shareholdings of the top ten non-restricted common shareholders
Number of non-restricted common shares held at the Type of shares
Name of shareholder
period-end Type Number
SHENZHEN CONSTRUCTION
RMB ordinary
INVESTMENT HOLDINGS 29,798,954 29,798,954
share
CORPORATION
Domestically
Li Jing 1,504,192 listed foreign 1,504,192
share
RMB ordinary
Zhou Kecan 1,427,200 1,427,200
share
RMB ordinary
Long Keyi 1,100,600 1,100,600
share
RMB ordinary
Li Ziying 1,091,680 1,091,680
share
Domestically
Chen Liying 1,036,051 listed foreign 1,036,051
share
Domestically
Liu Liaoyuan 960,132 listed foreign 960,132
share
SHENZHEN GUOMAO PROPERTY RMB ordinary
861,783 861,783
MANAGERMENT CO., LTD. share
RMB ordinary
Wu Yunping 665,300 665,300
share
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Report for the Third Quarter of 2014 of Shenzhen Properties & Resources Development (Group) Ltd.
Domestically
Yang Yaochu 589,060 listed foreign 589,060
share
The first principal shareholders of the Company are managed by Shenzhen Investment
Explanation on associated
Holding Corporation, the actual controlling shareholder of the Company, and the eighth
relationship or/and persons acting in
shareholder are the wholly controlled subsidiary of the Company. Other than that, it is
concert among the above-mentioned
unknown whether the remaining 8 shareholders are related parties or acting-in-concert
shareholders:
parties.
Did any of the top 10 common shareholders or the top 10 non-restricted common shareholders of the Company carry out any agreed
buy-back in the reporting period?
□ Yes √ No
No shareholder of the Company carried out any agreed buy-back in the reporting period.
2. Total number of preferred share holders and shareholdings of the top ten preferred share holders at the
period-end
□ Applicable √ Inapplicable
Section III. Significant Events
I. Major changes of main accounting statement items and financial indicators in the reporting
period, as well as reasons for the changes
√ Applicable □ Inapplicable
(I) Major changes of main accounting statement items and financial indicators in the reporting period, as
well as reasons for the changes
1. Accounts receivable at the period-end stood at RMB 29,302,653.48, up 31.95% from the year-beginning,
mainly because property management fees receivable of subsidiaries increased.
2. Long-term equity investments at the period-end stood at RMB 32,551,017.07, down 48.42% from the
year-beginning, mainly because the 50% stake in Shenzhen Guomao Tian’an Properties Co., Ltd. was sold and the
corresponding investment cost was transferred out in the reporting period.
3. Non-current liabilities due within 1 year at the period-end stood at RMB 90,393,221.64, up 34.90% from the
year-beginning, mainly because some long-term borrowings were transferred into this item according to
regulations.
4. Long-term borrowings at the period-end stood at RMB 177,613,352.00, up 52.79% from the year-beginning,
mainly because project borrowings of subsidiaries increased.
5. Operating revenues for Jan.-Sept. 2014 stood at RMB 812,558,050.45, down 45.16% from the same period of
last year, mainly because: the settled projects and the sales generated by the projects during Jan.-Sept. 2014
decreased from the same period of last year; the operating revenues for Jul.-Sept. 2014 stood at RMB
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Report for the Third Quarter of 2014 of Shenzhen Properties & Resources Development (Group) Ltd.
311,190,490.67, up 133.02% year on year, mainly because the project sales for Jul.-Sept. 2014 increased from the
same period of last year.
6. Operating costs for Jan.-Sept. 2014 stood at RMB 381,853,260.32, down 39.92% from the same period of last
year, mainly because: the settled project incomes during Jan.-Sept. 2014 decreased from the same period of last
year; the operating costs for Jul.-Sept. 2014 stood at RMB 151,018,029.31, up 83.19% year on year, mainly
because the settled project incomes for Jul.-Sept. 2014 increased from the same period of last year.
7. The business tax and surtaxes for Jan.-Sept. 2014 stood at RMB 152,426,532.16, down 49.33% from the same
period of last year, mainly because: the settled project incomes during Jan.-Sept. 2014 decreased and the taxes and
fares such as the business tax and the land VAT decreased accordingly; the business tax and surtaxes for Jul.-Sept.
2014 stood at RMB 70,138,205.94, up 315.94% year on year, mainly because the settled project incomes for
Jul.-Sept. 2014 increased and the taxes and fares such as the business tax and the land VAT increased accordingly.
8. The financial expenses for Jan.-Sept. 2014 and Jul.-Sept. 2014 stood at RMB -8,148,467.29 and -1,823,234.28
respectively, with the relevant income increasing 64.16% and 33.20% respectively from the same period of last
year, mainly because the interest income increased.
9. The investment gains for Jan.-Sept. 2014 and Jul.-Sept. 2014 stood at RMB 214,286,961.91 and
208,025,213.37 respectively, up 4038.39% and 26302.57% respectively from the same period of last year, mainly
because of the gains on the sale of the 50% stake in Shenzhen Guomao Tian’an Properties Co., Ltd.
10. The investment gains on associates and jointly-run enterprises for Jan.-Sept. 2014 stood at RMB 1,028,990.22,
down 80.13% from the same period of last year, mainly because the stake in jointly-run enterprise Shenzhen
Guomao Tian’an Properties Co., Ltd. was sold and the relevant gains decreased.
11. The net non-business incomes and expenses for Jan.-Sept. 2014 stood at RMB 4,244,544.63, up 746.13%
from the same period of last year, mainly because the gains on disposal of fixed assets increased during Jan.-Sept.
2014.
12. The income tax expenses for Jul.-Sept. 2014 stood at RMB 58,884,855.72, up 44788.23% from the same
period of last year, mainly because profits increased.
13. The operating profits, total profits and net profits (attributable to the Company without subsidiaries) for
Jul.-Sept. 2014 stood at RMB 269,474,078.07, RMB 269,935,754.91 and RMB 211,050,899.19 respectively,
up 6574.71%, 9571.63% and 7834.77% from the same period of last year, mainly because the investment gains
increased and the carried-over project sales income increased.
14. Net cash flows from operating activities for Jan.-Sept. 2014 stood at RMB -95,480,120.87, down 224.12%
from the same period of last year, mainly because the cash inflows from sale of houses decreased the project
inputs increased.
15. Net cash flows from investing activities for Jan.-Sept. 2014 stood at RMB 233,793,250.32, up 3360.11% from
the same period of last year, mainly because of the cash received due to the sale of the 50% stake in Shenzhen
Guomao Tian’an Properties Co., Ltd.
16. Net cash flows from financing activities for Jan.-Sept. 2014 stood at RMB -135,325,035.56, with net outflows
up 447.19% from the same period of last year, mainly because dividends were distributed.
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Report for the Third Quarter of 2014 of Shenzhen Properties & Resources Development (Group) Ltd.
17. The net increase in cash and cash equivalents for Jan.-Sept. 2014 stood at RMB 2,965,374.21, down 93.40%
from the same period of last year, mainly because project inputs increased and dividends were distributed.
(II) Influence of the accounting policy changes in the newly promulgated or amended accounting standards
on our financial position and operating results
In the reporting period, according to the newly promulgated or amended accounting standards, we retrospectively
restated the long-term equity investments of RMB 15.30 million in total (where we did not have control, joint
control over or significant influence on the invested parties, that had no offer in the active market and of which the
fair value could not be measured reliably) as available-for-sale financial assets. The restatement did not affect our
total assets, net assets and current gains and losses. Apart from the above-mentioned, the newly promulgated or
amended accounting standards did not have influence on our financial position, operating results and consolidated
financial statements.
II. Progress and influence of significant events, as well as the analysis and explanation on
solutions
√ Applicable □ Inapplicable
The 50% stake in Shenzhen Guomao Tian’an Properties Co., Ltd. was listed on Shenzhen United Property and Share Rights
Exchange for public sale starting from 14 May 2014. On 14 Jul. 2014, we received a notice from the agency that the stake was
successfully sold.
Index to the relevant announcement
Overview of the significant event Date of disclosure
disclosed on the website
Transfer of the 50% stake in Shenzhen Securities Times, Ta Kung Pao,
15 Jul. 2014
Guomao Tian’an Properties Co., Ltd. www.cninfo.com.cn
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
□ Applicable √ Inapplicable
No such commitments in the reporting period.
IV. Predict the 2014 annual operating results
Warnings of possible loss or large-margin change of the accumulated net profit made during the period from the beginning of the
year to the end of the next reporting period compared with the same period of the last year according to prediction, as well as
explanations on the reasons
□Applicable √Inapplicable
V. Securities investment
√ Applicable □ Inapplicable
Variety of Code of Name of Initial Number Sharehold Number Sharehold Closing Gain/loss Accounti Source of
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Report for the Third Quarter of 2014 of Shenzhen Properties & Resources Development (Group) Ltd.
securities securities securities investmen of shares ing of shares ing book in ng title stock
t cost held at percentag held at percentag value reporting
(RMB period-be e at period-en e at (RMB period
Yuan) ginning period-be d period-en Yuan) (RMB
ginning d Yuan)
Total 0.00 0 -- 0 -- 0.00 0.00 -- --
Disclosure date of the board
announcement on approval of
the securities investment
Disclosure date of the general
meeting announcement on
approval of the securities
investment (if any)
Shareholdings in other listed companies
√Applicable □Inapplicable
Code of Abbreviation Intial investment Percentage of Equity changes
securities of securities amount equities Closing book Gain/loss for of the owner in Accounting Source of
value report period the reporting title stock
period
000509 *ST China 2,962,500.00 0.10% 802,199.55 0.00 0.00 Available-for Directional
Plastic -sale purchase of
financial the corporate
assets shares
Total 2,962,500.00 - 802,199.55 0.00 0.00
VI. Investments in derivatives
□Applicable √Inapplicable
The Company did not invest in any derivative in the reporting period.
VII. Researches, visits and interviews received in the reporting period
√Applicable □Inapplicable
Main discussion and
Time Place Way of reception Visitor type Visitor materials provided by the
Company
Situation of equity transfer
16 Jul. 2014 The Company By phone Individual Investor
of Tianan
If there were news about
30 Jul. 2014 The Company By phone Individual Investor
the Reform of State-Owned
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Report for the Third Quarter of 2014 of Shenzhen Properties & Resources Development (Group) Ltd.
Enterprises in Shenzhen
Whether have a financing
14 Aug. 2014 The Company By phone Individual Investor
plan
17 Sep. 2014 The Company By phone Individual Investor Whether plan to buy land
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Report for the Third 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 980,137,188.41 977,171,814.20
Settlement reserves
Intra-group lendings
Financial assets measured at fair
value and of which changes are
recorded into current gains and losses
Notes receivable
Accounts receivable 29,302,653.48 22,208,022.21
Accounts paid in advance 32,810,753.10 35,904,799.33
Premiums receivable
Reinsurance premiums receivable
Receivable reinsurance contract
reserves
Interest receivable
Dividend receivable
Other accounts receivable 8,945,468.43 7,919,365.82
Financial assets purchased under
agreements to resell
Inventories 2,303,165,610.00 2,101,399,879.93
Assets held for sale
Non-current assets due within 1 year
Other current assets
Total current assets 3,354,361,673.42 3,144,603,881.49
Non-current assets:
Loans by mandate and advances
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Report for the Third Quarter of 2014 of Shenzhen Properties & Resources Development (Group) Ltd.
granted
Available-for-sale financial assets 15,302,199.55 15,302,199.55
Held-to-maturity investments
Long-term accounts receivable
Long-term equity investment 32,551,017.07 63,111,931.67
Investing property 254,131,771.70 273,314,623.03
Fixed assets 67,147,825.40 75,301,015.72
Construction in progress
Engineering materials
Disposal of fixed assets
Production biological assets
Oil-gas assets
Intangible assets 101,580,712.79 106,945,090.07
R&D expense
Goodwill
Long-term deferred expenses 2,685,135.77 3,081,383.99
Deferred income tax assets 199,459,325.86 191,592,588.80
Other non-current assets
Total of non-current assets 672,857,988.14 728,648,832.83
Total assets 4,027,219,661.56 3,873,252,714.32
Current liabilities:
Short-term borrowings 250,000,000.00 300,000,000.00
Borrowings from Central Bank
Customer bank deposits and due to
banks and other financial institutions
Intra-group borrowings
Financial liabilities measured at fair
value and of which changes are
recorded into current gains and losses
Notes payable
Accounts payable 227,367,133.95 265,697,047.64
Accounts received in advance 124,675,390.96 141,082,677.48
Financial assets sold for repurchase
Handling charges and commissions
payable
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Report for the Third Quarter of 2014 of Shenzhen Properties & Resources Development (Group) Ltd.
Employee’s compensation payable 48,558,752.18 50,023,230.98
Tax payable 872,412,191.44 865,513,058.59
Interest payable 981,197.66 934,568.21
Dividend payable
Other accounts payable 121,779,183.53 123,967,110.64
Reinsurance premiums payable
Insurance contract reserves
Payables for acting trading of
securities
Payables for acting underwriting of
securities
Liabilities held for sale
Non-current liabilities due within 1
90,393,221.64 67,009,888.28
year
Other current liabilities
Total current liabilities 1,736,167,071.36 1,814,227,581.82
Non-current liabilities:
Long-term borrowings 177,613,352.00 116,243,352.00
Bonds payable
Long-term payables
Specific payables
Estimated liabilities
Deferred income tax liabilities
Other non-current liabilities 135,190,248.25 139,138,400.76
Total non-current liabilities 312,803,600.25 255,381,752.76
Total liabilities 2,048,970,671.61 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 120,034,674.77 120,086,646.43
Less: Treasury stock
Specific reserves
Surplus reserves 121,542,385.81 121,542,385.81
Provisions for general risks
Retained profits 1,146,402,548.63 972,271,884.95
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Report for the Third Quarter of 2014 of Shenzhen Properties & Resources Development (Group) Ltd.
Foreign exchange difference -6,571,798.32 -7,098,716.51
Total equity attributable to owners of
1,977,386,902.89 1,802,781,292.68
the Company
Minority interests 862,087.06 862,087.06
Total owners’ (or shareholders’) equity 1,978,248,989.95 1,803,643,379.74
Total liabilities and owners’ (or
4,027,219,661.56 3,873,252,714.32
shareholders’) equity
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 358,419,048.79 420,568,966.65
Financial assets measured at fair
value and of which changes are
recorded into current gains and losses
Notes receivable
Accounts receivable 672,281.58 1,158,087.49
Accounts paid in advance 79,200.00 429,546.00
Interest receivable 631,400.00
Dividend receivable
Other accounts receivable 1,650,026,131.61 1,104,282,291.68
Inventories 365,758,156.20 326,684,862.09
Assets held for sale
Non-current assets due within 1 year
Other current assets 150,000,000.00
Total current assets 2,374,954,818.18 2,003,755,153.91
Non-current assets:
Available-for-sale financial assets 1,032,699.55 1,032,699.55
Held-to-maturity investments
Long-term accounts receivable
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Report for the Third Quarter of 2014 of Shenzhen Properties & Resources Development (Group) Ltd.
Long-term equity investment 279,108,278.05 309,669,192.65
Investing property 165,472,644.63 181,492,088.46
Fixed assets 12,346,491.62 15,709,482.23
Construction in progress
Engineering materials
Disposal of fixed assets
Production biological assets
Oil-gas assets
Intangible assets
R&D expense
Goodwill
Long-term deferred expenses 1,513,541.76 1,643,273.97
Deferred income tax assets
Other non-current assets 130,000,000.00
Total of non-current assets 459,473,655.61 639,546,736.86
Total assets 2,834,428,473.79 2,643,301,890.77
Current liabilities:
Short-term borrowings 240,000,000.00
Financial liabilities measured at fair
value and of which changes are
recorded into current gains and losses
Notes payable
Accounts payable 27,465,778.86 28,121,986.86
Accounts received in advance 12,801,629.50
Employee’s compensation payable 8,720,103.00 8,230,148.81
Tax payable 45,283,038.00 2,051,845.65
Interest payable 565,160.23 433,972.60
Dividend payable
Other accounts payable 1,241,685,469.79 1,136,178,056.53
Liabilities held for sale
Non-current liabilities due within 1
year
Other current liabilities
Total current liabilities 1,323,719,549.88 1,427,817,639.95
Non-current liabilities:
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Report for the Third Quarter of 2014 of Shenzhen Properties & Resources Development (Group) Ltd.
Long-term borrowings 276,370,000.00
Bonds payable
Long-term payables
Specific payables
Estimated liabilities
Deferred income tax liabilities
Other non-current liabilities
Total non-current liabilities 276,370,000.00
Total liabilities 1,600,089,549.88 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 94,141,000.52 94,057,859.68
Less: Treasury stock
Specific reserves
Surplus reserves 120,885,575.37 120,885,575.37
Provisions for general risks
Retained profits 423,333,256.02 404,561,723.77
Foreign exchange difference
Total owners’ (or shareholders’) equity 1,234,338,923.91 1,215,484,250.82
Total liabilities and owners’ (or
2,834,428,473.79 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 for the reporting period
Prepared by Shenzhen Properties & Resources Development (Group) Ltd.
Unit: RMB Yuan
Item Jul.-Sept. 2014 Jul.-Sept. 2013
I. Total operating revenues 311,190,490.67 133,544,384.58
Including: Sales income 311,190,490.67 133,544,384.58
Interest income
Premium income
Handling charge and
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Report for the Third Quarter of 2014 of Shenzhen Properties & Resources Development (Group) Ltd.
commission income
II. Total operating cost 249,741,625.97 130,295,041.84
Including: Cost of sales 151,018,029.31 82,438,932.47
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 70,138,205.94 16,862,532.96
Selling and distribution expenses 5,734,748.44 6,807,193.17
Administrative expenses 24,671,417.02 25,543,541.21
Financial expenses -1,823,234.28 -1,368,803.22
Asset impairment loss 2,459.54 11,645.25
Add: Gain/(loss) from change in fair
value (“-” means loss)
Gain/(loss) from investment (“-”
208,025,213.37 787,897.58
means loss)
Including: share of profits in
2,312,496.74 787,897.58
associates and joint ventures
Foreign exchange gains (“-”
means loss)
III. Business profit (“-” means loss) 269,474,078.07 4,037,240.32
Add: non-operating income 522,989.81 -358,085.39
Less: non-operating expense 61,312.97 888,149.91
Including: loss from non-current
7,832.44 1,254.66
asset disposal
IV. Total profit (“-” means loss) 269,935,754.91 2,791,005.02
Less: Income tax expense 58,884,855.72 131,181.05
V. Net profit (“-” means loss) 211,050,899.19 2,659,823.97
Including: Net profit achieved by
combined parties before the
combinations
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Report for the Third Quarter of 2014 of Shenzhen Properties & Resources Development (Group) Ltd.
Attributable to owners of the
211,050,899.19 2,659,823.97
Company
Minority shareholders’ income
VI. Earnings per share -- --
(I) Basic earnings per share 0.3541 0.0045
(II) Diluted earnings per share 0.3541 0.0045
VII. Other comprehensive incomes 78,925.00 260,766.26
Including: Other comprehensive
incomes items that cannot be
reclassified as gains and losses in the
subsequent accounting periods
Other comprehensive incomes items
that will be reclassified as gains and
losses in the subsequent accounting 78,925.00 260,766.26
periods as relevant requirements are
met
VIII. Total comprehensive incomes 211,129,824.19 2,920,590.23
Attributable to owners of the
211,129,824.19 2,920,590.23
Company
Attributable to minority shareholders
Legal representative: Chen Yugang Person-in-charge of the accounting work: Wang Hangjun
Chief of the accounting division: Shen Xueying
4. Income statement of the Company for the reporting period
Prepared by Shenzhen Properties & Resources Development (Group) Ltd.
Unit: RMB Yuan
Item Jul.-Sept. 2014 Jul.-Sept. 2013
I. Total sales 18,602,421.15 13,155,236.75
Less: cost of sales 8,837,692.27 5,887,359.45
Business taxes and surcharges 1,600,941.77 1,854,747.90
Distribution expenses
Administrative expenses 10,660,683.07 9,898,161.16
Financial costs -803,912.29 3,019,307.51
Impairment loss -31,048.64
Add: gain/(loss) from change in fair
18
Report for the Third Quarter of 2014 of Shenzhen Properties & Resources Development (Group) Ltd.
value (“-” means loss)
Gain/(loss) from investment (“-”
208,025,213.37 6,068,697.58
means loss)
Including: income form investment
2,312,496.74 787,897.58
on associates and joint ventures
II. Business profit (“-” means loss) 206,332,229.70 -1,404,593.05
Add: non-business income 398,017.77 44,739.28
Less: non-business expense 3,861.79 30,000.00
Including: loss from non-current
3,861.79
asset disposal
III. Total profit (“-” means loss) 206,726,385.68 -1,389,853.77
Less: income tax expense 42,625,146.44
IV. Net profit (“-” means loss) 164,101,239.24 -1,389,853.77
V. Earnings per share -- --
(I) Basic earnings per share 0.2753 -0.0023
(II) Diluted earnings per share 0.2753 -0.0023
VI. Other comprehensive income
Including: Other comprehensive
incomes items that cannot be
reclassified as gains and losses in the
subsequent accounting periods
Other comprehensive incomes items
that will be reclassified as gains and
losses in the subsequent accounting
periods as relevant requirements are
met
VII. Total comprehensive income 164,101,239.24 -1,389,853.77
Legal representative: Chen Yugang Person-in-charge of the accounting work: Wang Hangjun
Chief of the accounting division: Shen Xueying
5. Consolidated income statement for Jan.-Sept. 2014
Prepared by Shenzhen Properties & Resources Development (Group) Ltd.
Unit: RMB Yuan
Item Jan.-Sept. 2014 Jan.-Sept. 2013
I. Total operating revenues 812,558,050.45 1,481,738,491.87
19
Report for the Third Quarter of 2014 of Shenzhen Properties & Resources Development (Group) Ltd.
Including: Sales income 812,558,050.45 1,481,738,491.87
Interest income
Premium income
Handling charge and commission
income
II. Total operating cost 613,341,249.59 1,023,781,670.03
Including: Cost of sales 381,853,260.32 635,617,538.27
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 152,426,532.16 300,827,247.86
Selling and distribution expenses 10,901,830.81 14,174,997.96
Administrative expenses 74,857,014.55 76,883,399.94
Financial expenses -8,148,467.29 -4,963,868.24
Asset impairment loss 1,451,079.04 1,242,354.24
Add: Gain/(loss) from change in fair
value (“-” means loss)
Gain/(loss) from investment (“-”
214,286,961.91 5,178,021.22
means loss)
Including: share of profits in
1,028,990.22 5,178,021.22
associates and joint ventures
Foreign exchange gains (“-” means
loss)
III. Business profit (“-” means loss) 413,503,762.77 463,134,843.06
Add: non-operating income 4,686,154.46 2,152,797.45
Less: non-operating expense 441,609.83 2,809,718.58
Including: loss from non-current
62,589.57 76,887.35
asset disposal
IV. Total profit (“-” means loss) 417,748,307.40 462,477,921.93
Less: Income tax expense 94,622,870.72 106,217,105.15
20
Report for the Third Quarter of 2014 of Shenzhen Properties & Resources Development (Group) Ltd.
V. Net profit (“-” means loss) 323,125,436.68 356,260,816.78
Including: Net profit achieved by
combined parties before the
combinations
Attributable to owners of the
323,125,436.68 356,260,816.78
Company
Minority shareholders’ income
VI. Earnings per share -- --
(I) Basic earnings per share 0.5422 0.5978
(II) Diluted earnings per share 0.5422 0.5978
VII. Other comprehensive incomes 526,918.19 -443,513.45
Including: Other comprehensive
incomes items that cannot be
reclassified as gains and losses in the
subsequent accounting periods
Other comprehensive incomes items
that will be reclassified as gains and
losses in the subsequent accounting 526,918.19 -443,513.45
periods as relevant requirements are
met
VIII. Total comprehensive incomes 323,652,354.87 355,817,303.33
Attributable to owners of the
323,652,354.87 355,817,303.33
Company
Attributable to minority shareholders
Legal representative: Chen Yugang Person-in-charge of the accounting work: Wang Hangjun
Chief of the accounting division: Shen Xueying
6. Income statement of the Company for Jan.-Sept. 2014
Prepared by Shenzhen Properties & Resources Development (Group) Ltd.
Unit: RMB Yuan
Item Jan.-Sept. 2014 Jan.-Sept. 2013
I. Total sales 50,719,635.15 38,609,403.23
Less: cost of sales 21,843,191.15 10,511,206.75
Business taxes and surcharges 4,972,785.43 5,763,188.30
Distribution expenses
Administrative expenses 29,630,038.32 29,389,406.53
21
Report for the Third Quarter of 2014 of Shenzhen Properties & Resources Development (Group) Ltd.
Financial costs -3,584,465.85 3,336,361.36
Impairment loss -272,589.07 -22,176,370.27
Add: gain/(loss) from change in fair
value (“-” means loss)
Gain/(loss) from investment (“-”
210,120,106.85 25,398,421.22
means loss)
Including: income form investment
1,028,990.22 5,178,021.22
on associates and joint ventures
II. Business profit (“-” means loss) 208,250,782.02 37,184,031.78
Add: non-business income 2,144,531.46 1,617,443.28
Less: non-business expense 3,861.79 32,187.01
Including: loss from non-current
3,861.79 2,187.01
asset disposal
III. Total profit (“-” means loss) 210,391,451.69 38,769,288.05
Less: income tax expense 42,625,146.44
IV. Net profit (“-” means loss) 167,766,305.25 38,769,288.05
V. Earnings per share -- --
(I) Basic earnings per share 0.2815 0.0651
(II) Diluted earnings per share 0.2815 0.0651
VI. Other comprehensive income
Including: Other comprehensive
incomes items that cannot be
reclassified as gains and losses in the
subsequent accounting periods
Other comprehensive incomes items
that will be reclassified as gains and
losses in the subsequent accounting
periods as relevant requirements are
met
VII. Total comprehensive income 167,766,305.25 38,769,288.05
Legal representative: Chen Yugang Person-in-charge of the accounting work: Wang Hangjun
Chief of the accounting division: Shen Xueying
7. Consolidated cash flow statement for Jan.-Sept. 2014
Prepared by Shenzhen Properties & Resources Development (Group) Ltd.
Unit: RMB Yuan
22
Report for the Third Quarter of 2014 of Shenzhen Properties & Resources Development (Group) Ltd.
Item Jan.-Sept. 2014 Jan.-Sept. 2013
I. Cash flows from operating activities:
Cash received from sale of
848,250,185.13 893,586,011.86
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
13,683,112.18 22,828,938.98
operating activities
Subtotal of cash inflows from operating
861,933,297.31 916,414,950.84
activities
Cash paid for goods and services 427,802,820.07 329,377,118.18
Net increase of customer lendings
and advances
Net increase of funds deposited in the
central bank and amount due from
banks
Cash for paying claims of the original
insurance contracts
Cash for paying interest, handling
23
Report for the Third Quarter of 2014 of Shenzhen Properties & Resources Development (Group) Ltd.
charges and commissions
Cash for paying policy dividends
Cash paid to and for employees 207,155,104.66 196,899,643.15
Various taxes paid 257,744,966.31 257,535,759.53
Other cash payment relating to
64,710,527.14 55,677,882.89
operating activities
Subtotal of cash outflows from
957,413,418.18 839,490,403.75
operating activities
Net cash flows from operating activities -95,480,120.87 76,924,547.09
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 1,365,975.00 415,668.00
long-term assets
Net cash received from disposal of
237,421,380.00
subsidiaries or other business units
Other cash received relating to
investing activities
Subtotal of cash inflows from investing
238,787,355.00 415,668.00
activities
Cash paid to acquire fixed assets,
intangible assets and other long-term 4,994,104.68 7,587,003.43
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
4,994,104.68 7,587,003.43
investing activities
Net cash flows from investing activities 233,793,250.32 -7,171,335.43
III. Cash Flows from Financing
Activities:
Cash received from capital
24
Report for the Third Quarter of 2014 of Shenzhen Properties & Resources Development (Group) Ltd.
contributions
Including: Cash received from
minority shareholder investments by
subsidiaries
Cash received from borrowings 366,370,000.00 361,243,352.00
Cash received from issuance of
bonds
Other cash received relating to
financing activities
Subtotal of cash inflows from financing
366,370,000.00 361,243,352.00
activities
Repayment of borrowings 331,616,666.64 369,050,000.01
Cash paid for interest expenses and
167,654,368.92 16,642,218.64
distribution of dividends or profit
Including: dividends or profit paid
by subsidiaries to minority shareholders
Other cash payments relating to
2,424,000.00 282,000.00
financing activities
Sub-total of cash outflows from
501,695,035.56 385,974,218.65
financing activities
Net cash flows from financing activities -135,325,035.56 -24,730,866.65
IV. Effect of foreign exchange rate
-22,719.68 -105,759.69
changes on cash and cash equivalents
V. Net increase in cash and cash
2,965,374.21 44,916,585.32
equivalents
Add: Opening balance of cash and
977,171,814.20 797,724,311.37
cash equivalents
VI. Closing balance of cash and cash
980,137,188.41 842,640,896.69
equivalents
Legal representative: Chen Yugang Person-in-charge of the accounting work: Wang Hangjun
Chief of the accounting division: Shen Xueying
8. Cash flow statement of the Company for Jan.-Sept. 2014
Prepared by Shenzhen Properties & Resources Development (Group) Ltd.
Unit: RMB Yuan
Item Jan.-Sept. 2014 Jan.-Sept. 2013
25
Report for the Third Quarter of 2014 of Shenzhen Properties & Resources Development (Group) Ltd.
I. Cash flows from operating activities:
Cash received from sale of
41,355,882.84 37,168,425.23
commodities and rendering of service
Tax refunds received
Other cash received relating to
523,323,169.67 516,364,591.52
operating activities
Subtotal of cash inflows from operating
564,679,052.51 553,533,016.75
activities
Cash paid for goods and services 28,256,540.32 5,870,996.83
Cash paid to and for employees 17,341,692.11 18,007,756.06
Various taxes paid 6,834,481.98 8,823,131.02
Other cash payment relating to
968,821,035.98 1,058,589,577.91
operating activities
Subtotal of cash outflows from
1,021,253,750.39 1,091,291,461.82
operating activities
Net cash flows from operating activities -456,574,697.88 -537,758,445.07
II. Cash flows from investing activities:
Cash received from retraction of
280,000,000.00 195,000,000.00
investments
Cash received from return on
4,009,800.00 20,220,400.00
investments
Net cash received from disposal of
fixed assets, intangible assets and other 2,200.00 4,198.00
long-term assets
Net cash received from disposal of
237,421,380.00
subsidiaries or other business units
Other cash received relating to
investing activities
Subtotal of cash inflows from investing
521,433,380.00 215,224,598.00
activities
Cash paid to acquire fixed assets,
intangible assets and other long-term 660,565.00 167,507.00
assets
Cash paid for investment
Net cash paid to acquire subsidiaries
and other business units
Other cash payments relating to
investing activities
26
Report for the Third Quarter of 2014 of Shenzhen Properties & Resources Development (Group) Ltd.
Subtotal of cash outflows from
660,565.00 167,507.00
investing activities
Net cash flows from investing activities 520,772,815.00 215,057,091.00
III. Cash Flows from Financing
Activities:
Cash received from capital
contributions
Cash received from borrowings 276,370,000.00 240,000,000.00
Cash received from issuance of
bonds
Other cash received relating to
financing activities
Subtotal of cash inflows from financing
276,370,000.00 240,000,000.00
activities
Repayment of borrowings 240,000,000.00
Cash paid for interest expenses and
162,116,848.94 5,080,000.00
distribution of dividends or profit
Other cash payments relating to
208,000.00 282,000.00
financing activities
Sub-total of cash outflows from
402,324,848.94 5,362,000.00
financing activities
Net cash flows from financing activities -125,954,848.94 234,638,000.00
IV. Effect of foreign exchange rate
-393,186.04
changes on cash and cash equivalents
V. Net increase in cash and cash
-62,149,917.86 -88,063,354.07
equivalents
Add: Opening balance of cash and
420,568,966.65 399,641,751.92
cash equivalents
VI. Closing balance of cash and cash
358,419,048.79 311,578,397.85
equivalents
Legal representative: Chen Yugang Person-in-charge of the accounting work: Wang Hangjun
Chief of the accounting division: Shen Xueying
II. Audit report
Is this report audited?
□ Yes √ No
27
Report for the Third Quarter of 2014 of Shenzhen Properties & Resources Development (Group) Ltd.
This report is not audited.
28
