2015 Semi-annual Report of Shenzhen Properties & Resources Development (Group) Ltd.
SHENZHEN PROPERTIES & RESOURCES
DEVELOPMENT (GROUP) LTD.
2015 Semi-annual Report
2015-19
August 2015
1
2015 Semi-annual Report of Shenzhen Properties & Resources Development (Group) Ltd.
Section I. Important Reminders, Contents & Explanation
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.
The Company plans not to distribute cash dividends or bonus shares or turn capital reserve into
share capital.
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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2015 Semi-annual Report of Shenzhen Properties & Resources Development (Group) Ltd.
Contents
2015 Semi-annual Report ..................................................................................................................1
Section I. Important Reminders, Contents & Explanation............................................................2
Section II. Company Profile..............................................................................................................5
Section III. Highlights of Accounting Data & Financial Indicators ..............................................7
Section IV. Report of the Board of Directors...................................................................................9
Section V. Significant Events...........................................................................................................17
Section VI. Change in Shares & Shareholders ..............................................................................25
Section VII. Preferred Shares .........................................................................................................29
Section VIII. Directors, Supervisors & Senior Management Staff..............................................30
Section IX. Financial Report...........................................................................................................31
Section X. Documents Available for Reference ...........................................................................162
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2015 Semi-annual Report of Shenzhen Properties & Resources Development (Group) Ltd.
Explanation
Refers
Term Contents
to
Refers
Company, the Company Shenzhen Properties & Resources Development (Group) Ltd.
to
Refers Shenzhen Municipal People’s Government State-owned Assets
Shenzhen SASAC
to Supervision and Administration Commission
Refers
SIHC Shenzhen Investment Holdings Co., Ltd.
to
Refers
SCIHC Shenzhen Construction Investment Holdings Corporation
to
Refers
SIM Shenzhen Investment Management Co., Ltd.
to
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2015 Semi-annual Report of Shenzhen Properties & Resources Development (Group) Ltd.
Section II. Company Profile
I. Basic information of the Company
Stock abbreviation SWYA, SWYB Stock code 000011, 200011
Stock exchange listed with Shenzhen Stock Exchange
Chinese name of the Company 深圳市物业发展(集团)股份有限公司
Abbr. of the Chinese name of
深物业集团
the Company (if any)
English name of the Company
ShenZhen Properties & Resources Development（Group） Ltd.
(if any)
Abbr. of the English name of
SZPRD
the Company (if any)
Legal representative of the
Mr. Chen Yugang
Company
II. Contact information
Company Secretary Securities Affairs Representative
Name Fan Weiping
Qian Zhong, Huang Fengchun
42/F, International Trade Center, Renmin 42/F, International Trade Center, Renmin
Contact address South Road, Shenzhen, Guangdong South Road, Shenzhen, Guangdong
Province, P.R.China Province, P.R.China
Tel. 0755-82211020 0755-82211020
Fax 0755-82210610 82212043 0755-82210610 82212043
E-mail 000011touzizhe@szwuye.com.cn 000011touzizhe@szwuye.com.cn
III. Other information
1. Ways to contact the Company
Did any change occur to the registered address, office address and their postal codes, website address and email address of the
Company during the reporting period?
□ Applicable √ Inapplicable
The registered address, office address and their postal codes, website address and email address of the Company did not change
during the reporting period. The said information can be found in the 2014 Annual Report.
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2015 Semi-annual Report of Shenzhen Properties & Resources Development (Group) Ltd.
2. About information disclosure and where this report is placed
Did any change occur to information disclosure media and where this report is placed during the reporting period?
□ Applicable √ Inapplicable
The newspapers designated by the Company for information disclosure, the website designated by CSRC for disclosing this report
and the location where this report is placed did not change during the reporting period. The said information can be found in the 2014
Annual Report.
3. Change of the registered information
Did any change occur to the registered information during the reporting period?
□ Applicable √ Inapplicable
The registration date and place of the Company, its business license No., taxation registration No. and organizational code did not
change during the reporting period. The said information can be found in the 2014 Annual Report.
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2015 Semi-annual Report of Shenzhen Properties & Resources Development (Group) Ltd.
Section III. Highlights of Accounting Data & Financial Indicators
I. Major accounting data and financial indicators
Does the Company adjust retrospectively or restate accounting data of previous years due to change of any accounting policy or
correction of any accounting error?
□ Yes √ No
Reporting period Same period of last year YoY +/- (%)
Operating revenues (RMB Yuan) 338,761,310.39 501,367,559.78 -32.43%
Net profit attributable to shareholders of
31,162,831.74 112,074,537.49 -72.19%
the Company (RMB Yuan)
Net profit attributable to shareholders of
the Company after extraordinary gains and 26,946,876.19 103,434,750.14 -73.95%
losses (RMB Yuan)
Net cash flows from operating activities
-221,909,180.93 -189,887,490.37 16.86%
(RMB Yuan)
Basic EPS (RMB Yuan/share) 0.0523 0.1881 -72.20%
Diluted EPS (RMB Yuan/share) 0.0523 0.1881 -72.20%
Weighted average ROE (%) 1.52% 6.19% -4.67%
As at the end of the
As at the end of last year +/- (%)
reporting period
Total assets (RMB Yuan) 3,756,568,697.53 3,883,288,145.46 -3.26%
Net assets attributable to shareholders of
1,971,339,192.41 2,074,242,662.07 -4.96%
the Company (RMB Yuan)
II. Differences between accounting data under domestic and overseas accounting standards
1. Differences of net profit and net assets disclosed in financial reports prepared under international and
Chinese accounting standards
□ Applicable □ Inapplicable
No difference for the reporting period.
2. Differences of net profit and net assets disclosed in financial reports prepared under overseas and
Chinese accounting standards
□ Applicable □ Inapplicable
No difference for the reporting period.
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2015 Semi-annual Report of Shenzhen Properties & Resources Development (Group) Ltd.
III. Items and amounts of extraordinary gains and losses
√Applicable □ Inapplicable
Unit: RMB Yuan
Item Amount Explanation
Gains/losses on the disposal of non-current assets (including the
-426,921.60
offset part of asset impairment provisions)
Gains and losses on change in fair value from tradable financial
assets and tradable financial liabilities, as well as investment
income from disposal of tradable financial assets and tradable Gain on sale of shares of Huasu
6,101,133.09
financial liabilities and financial assets available for sales except Holdings
for effective hedging related with normal businesses of the
Company
Other non-operating income and expenses other than the above -109,877.17
Less: Income tax effects 1,348,378.77
Total 4,215,955.55 --
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
No such cases during the reporting period.
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2015 Semi-annual Report of Shenzhen Properties & Resources Development (Group) Ltd.
Section IV. Report of the Board of Directors
I. Overview
If 2014 marked the beginning of the “new normal state” of the real estate sector, the market trends in the first half
of 2015 have proven quite so. As the macro-economy stepped into a “new normal state”, the adjustment trend in
the real estate market continued from last year to the beginning of the first half of 2015. In order to ensure the
steady development of the real estate sector, the central and local governments unveiled a series of favorable
policies to promote destocking and investment, including the central bank’s successive reductions of the required
reserve rate and the loan interest rate, credit easing, the adjustment to the business tax exemption period for
transfer of individuals’ houses, more support for housing accumulation fund loans, etc. In the meantime, the
governments also proactively pushed forward long-term mechanisms. As a result, the main indicators of house
trading in China finally showed by this June a trend of gradual recovery by the positive year-on-year growth both
in the sold area and the sales income, the decreasing area of commodity houses in stock, etc. Despite a pickup of
the general indicators, the national real estate sector saw, however, some clear differentiations in the first half of
the year, four first-tier cities even in a peak, major second-tier cities in gradual pickup and third and fourth-tier
cities still struggling for destocking. Such differentiations among cities and regions have become an important
factor for real estate developers to consider when they try to avoid investment risks. Looking into the second half
of the year, we still hold a firm belief that the real estate sector is substantially important to the macro-economy,
that the urbanization drive will promote development in the sector, and that the market will rise to further stability
from the bottom in the first half of the year and keep to the path of the so-called “Silver Age” for the coming
future.
Considering the market situation and our business performance, we accelerated the construction progress of our
ongoing real estate projects, proactively sought for effective marketing measures and swiftly implemented them,
and seized opportunities arising from favorable policies for the market so as to maintain a stable operating
performance. For the first half of 2015, we achieved operating revenues of RMB 338.761 million and net profits
of RMB 31.217 million.
II. Main business analysis
YoY change of major financial data:
Unit: RMB Yuan
Reporting period Same period of last year YoY +/-% Main reasons for change
Projects settled and sales
Operating revenues 338,761,310.39 501,367,559.78 -32.43%
realized decreased.
The income from settled
Operating costs 199,054,160.59 230,835,231.01 -13.77%
projects decreased.
Marketing was enhanced
Selling expenses 12,658,266.69 5,167,082.37 144.98%
and the advertising
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2015 Semi-annual Report of Shenzhen Properties & Resources Development (Group) Ltd.
expenses increased.
Administrative expenses 48,330,181.70 50,185,597.53 -3.70%
The interest income
Financial expenses -4,714,375.50 -6,325,233.01 -25.47%
decreased.
The profits achieved
Income tax expenses 11,362,044.97 35,738,015.00 -68.21%
decreased.
The capital inflows from
Net cash flows from
-221,909,180.93 -189,887,490.37 16.86% sale of projects
operating activities
decreased.
The taxi subsidiary’s
Net cash flows from
-7,669,730.46 -2,452,735.80 212.70% expenses on the renewal
investing activities
of their vehicles
Net cash outflows
Net cash flows from decreased mainly
-96,151,660.47 -217,614,297.27 -55.82%
financing activities because of the decreased
borrowing repayments.
The capital inflows from
Net increase in cash and
-325,965,954.84 -409,900,929.50 -20.48% sale of projects
cash equivalents
decreased.
The real estate income
decreased and the
Business tax and surtaxes 46,781,146.09 82,288,326.22 -43.15%
business tax, VAT, etc.
decreased accordingly.
Net profit attributable to The real estate income
31,162,831.74 112,074,537.49 -72.19%
owners of the Company decreased.
Major changes to the profit structure or sources of the Company during the reporting period:
□ Applicable √ Inapplicable
No major changes occurred to the profit structure or sources of the Company during the reporting period.
Reporting period progress of the future development planning in the disclosed documents of the Company such as share-soliciting
prospectuses, offering prospectuses, asset reorganization reports, etc.:
□ Applicable √ Inapplicable
There was no progress of the future development planning in the disclosed documents of the Company such as share-soliciting
prospectuses, offering prospectuses, asset reorganization reports during reporting period.
Overview of the reporting period progress of the business plans disclosed in previous periods:
The Company’s business operated orderly as planed, which can finish the year budget.
III. Breakdown of main business
Unit: RMB Yuan
Operating Operating cost Gross profit rate Increase/decrease Increase/decrease Increase/decrease
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2015 Semi-annual Report of Shenzhen Properties & Resources Development (Group) Ltd.
revenue (%) of operating of operating cost of gross profit
revenue over last over last year (%) rate over last year
year (%) (%)
Classified by industry:
Real estate
86,897,639.00 18,449,140.36 78.77% -66.87% -68.33% 0.98%
development
House leasing
185,142,262.85 144,581,216.66 21.91% 9.56% 6.26% 2.43%
and management
Transportation 29,724,103.57 13,396,208.12 54.93% 0.88% 2.59% -0.75%
Catering service 11,634,507.50 9,541,886.80 17.99% 9.79% 4.93% 3.80%
Others 4,502,655.10 5,121,939.55 -13.75% -2.02% 15.57% -17.32%
Classified by product:
Real estate
86,897,639.00 18,449,140.36 78.77% -66.87% -68.33% 0.98%
development
House leasing
185,142,262.85 144,581,216.66 21.91% 9.56% 6.26% 2.43%
and management
Transportation 29,724,103.57 13,396,208.12 54.93% 0.88% 2.59% -0.75%
Catering service 11,634,507.50 9,541,886.80 17.99% 9.79% 4.93% 3.80%
Others 4,502,655.10 5,121,939.55 -13.75% -2.02% 15.57% -17.32%
Classified by region:
Shenzhen 251,581,852.90 124,815,624.29 50.39% -41.11% -26.39% -9.92%
Other 87,179,457.52 74,238,536.30 14.84% 17.51% 21.17% -2.57%
IV. Core competitiveness analysis
So far, there are five projects in construction for sale in the Company, respectively located in
Shenzhen, Xuzhou, Yangzhou and Dongguan, of which, SZPRD-Banshan Yujing (Xuzhou),
SZPRD-Hupan Yujing (Yangzhou) and SZPRD-Songhu Langyuan (Dongguan) are projects on sale,
Yangzhou project is located in Shouxi Lake District, Yangzhou, the phase I project had deliver the
house to the buyers. Dongguan project is located in Songshan Lake District; principal part of the
project has been capped, the Company’s on-sale projects are conducted the sale in line with the
arrangements steadily. SZPRD-Qianhai Harbor project located in Shenzhen Qianhai District, is on
the construction of main structure engineering; SZPRD-Golden Collar Holiday project located in
Shenzhen Huanggang Port is in the construction of pile foundation engineering, the project is
successfully progressing, the two projects in Shenzhen are in premium locations, and the cost of the
land is low; as the speedy development of property market of Shenzhen in the first half, the
economic effectiveness of the project is further enhanced.
Each project of the Company is under processing successfully, which achieves good performance
for the company to lay a solid foundation. Firmly gripping property main business simultaneously,
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2015 Semi-annual Report of Shenzhen Properties & Resources Development (Group) Ltd.
keeps the healthy development of house lease, property management, car passenger and other
supplementary industry. The income increased compare to that in same period of last year, the
Company will continue to seek broaden project actively, expands the profits of supplementary
industry, comprehensively promote the competitiveness of the company
V. Investment analysis
1. Investments in equities of external parties
(1) Investments in external parties
□ Applicable √ Inapplicable
No such cases in the reporting period.
(2) Equity-holdings in financial enterprises
□ Applicable √ Inapplicable
No such cases in the reporting period.
(3) Securities investments
□ Applicable √ Inapplicable
No such cases in the reporting period.
(4) Shareholdings in other listed companies
√ Applicable □ Inapplicable
2. Wealth management entrustment, derivative investments and entrustment loans
(1) Wealth management entrustment
□ Applicable √ Inapplicable
No such cases in the reporting period.
(2) Derivative investments
□ Applicable √ Inapplicable
No such cases in the reporting period.
(3) Entrustment loans
□ Applicable √ Inapplicable
No such cases in the reporting period.
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2015 Semi-annual Report of Shenzhen Properties & Resources Development (Group) Ltd.
3. Use of raised funds
□ Applicable √ Inapplicable
No such cases in the reporting period.
4. Analysis to main subsidiaries and stock-participating companies
√ Applicable □ Inapplicable
Main subsidiaries and stock-participating companies:
Unit: RMB Yuan
Main
Company Company Registered Operating Operating
Industry products/ser Total assets Net assets Net profit
name variety capital revenues profit
vices
Shenzhen Sale of
Huangchen houses &
30,000,000. 1,911,410,7 787,488,27 94,663,887. 19,251,22 14,500,504.8
g Real Subsidiary Real estate Property
00 44.21 3.76 06 0.28 9
Estate Co., managemen
Ltd. t
Shenzhen
Guomao Property Property
20,000,000. 236,307,51 80,840,003. 157,617,12 13,774,73 10,170,336.0
Property Subsidiary managemen managemen
00 6.99 06 1.57 3.06 8
Managemen t t
t Co., Ltd.
Shenzhen Sale of
Guomao motor houses and
29,850,000. 479,320,03 222,695,28 37,367,616. 10,720,33
Vehicle Subsidiary transportati motor 8,219,922.86
00 5.23 8.96 43 4.16
Industry on transportati
Co., Ltd. on
5. Significant projects invested with non-raised funds
√ Applicable □ Inapplicable
Unit: RMB Ten Thousand Yuan
Cumulative
Total planned Input for this actual input as Project Project Disclosure date Disclosure
Project name (if any) index (if any)
investment period at the progress earnings
period-end
SZPRD-Bansh
anyujing (first
84,000 1,817 56,163
and second
phases)
SZPRD-Songh
100,555 8,213 51,233
ulangyuan
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2015 Semi-annual Report of Shenzhen Properties & Resources Development (Group) Ltd.
SZPRD-Hupan
yujing (first
120,000 1,814 78,317
and second
phases)
SZPRD-Qianha
84,232 6,674 39,294
i Bay
SZPRD-Golde
n Collar 150,000 2,042 13,528
Holiday
Total 538,787 20,560 238,535 -- -- -- --
VI. Predict the operating results of Jan.-Mar. 2015
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: Considerable decrease at the same direction
Type of the predicted data: exact data
Jan.-Sept. 2015 Jan.-Sept.2014 +/- (%)
Predicted accumulative net
4,000 32,313 Down -87.62%
profit (RMB Ten thousand)
Basic EPS (RMB Yuan/share) 0.0671 0.5422 Down -87.62%
Reason for the considerable fluctuation of the business results: The project sales and the area
available for settlement in Jan.-Sept. 2015decreased considerably on the year-on-year basis. The
Explanation about the aforesaid estimate is just preliminary measurement given by the Company according to the current
predictions sales situation of real estate projects. Investors are kindly reminded to be noted that the actual
earnings of the Company for Jan.-Sept. 2015 shall be subject to data disclosed in the Company’s
report for the third quarter of 2015.
VII. Explanation of the Board of Directors and the Supervisory Committee on the
“Non-standard Audit Report” issued by the CPAs firm for the reporting period
□Applicable √Inapplicable
VIII. Explanation of the Board of Directors on the issues mentioned in the “Non-standard
Audit Report” issued by the CPAs firm for last year
□Applicable √Inapplicable
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2015 Semi-annual Report of Shenzhen Properties & Resources Development (Group) Ltd.
IX. Implementation of profit allocation during the reporting period
Profit allocation plan implemented during the reporting period, especially execution and adjustment of the cash dividend plan and the
plan for turning capital reserve into share capital:
√ Applicable □ Inapplicable
The for the specific Allocation Plan, please refer to sees Implementation Announcement on Dividend Allocation Annual Plan of
2015-14-2014 in Securities Times, Ta Kung Pao and http//www.cninfo.com.cn.
Special statement about the cash dividend policy
In compliance with the Company’s Articles of Association and
Yes
the resolution of the general meeting
Specific and clear dividend standard and ratio Yes
Complete decision-making procedure and mechanism Yes
Independent directors fulfilled their responsibilities and played
Yes
their due role.
Minority shareholders have the chance to fully express their
opinion and desire and their legal rights and interests were fully Yes
protected.
In adjustment or alteration of the cash dividend policy, the
conditions and procedure were in compliance with regulations Yes
and transparent.
X. Pre-plan for profit allocation and turning capital reserve into share capital for the
reporting period
□ Applicable √ Inapplicable
The Company planed not to distribute cash dividends or bonus shares or turn capital reserve into share capital for
the reporting period.
XI. Particulars about researches, visits and interviews received in this reporting period
√ Applicable □ Inapplicable
Main discussion and
Time Place Way of reception Visitor type Visitor materials provided by the
Company
Office of the Telephone Whether had new houses in
9 Apr. 2015 Individual Investor
Company communication Second quarter
Office of the Telephone Any action of State-owned
14 May 2015 Individual Investor
Company communication enterprise reform
30 Jun. 2015 Office of the Telephone Individual Investor Whether considering
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2015 Semi-annual Report of Shenzhen Properties & Resources Development (Group) Ltd.
Company communication suspension measures or not
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2015 Semi-annual Report of Shenzhen Properties & Resources Development (Group) Ltd.
Section V. Significant Events
I. Corporate governance
There is not discrepancy between the corporate governance and Company Law, relevant regulations of CSRC.
II. Lawsuits or arbitrations
Significant lawsuits or arbitrations
□ Applicable √ Inapplicable
No such cases in the reporting period.
Other lawsuits or arbitrations
□ Applicable √ Inapplicable
III. Media’s queries
□ Applicable √ Inapplicable
No such cases in the reporting period.
IV. Bankruptcy and reorganization
□ Applicable √ Inapplicable
Bankruptcy and reorganization did not occur to the Company in the reporting period.
V. Asset transactions
1. Purchase of assets
□ Applicable √ Inapplicable
No such cases in the reporting period.
2. Sale of assets
□ Applicable √ Inapplicable
No such cases in the reporting period.
3. Business combination
□ Applicable √ Inapplicable
No such cases in the reporting period.
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2015 Semi-annual Report of Shenzhen Properties & Resources Development (Group) Ltd.
VI. Implementation of equity incentive and its influence
□ Applicable √ Inapplicable
The Company did not make or carry out any equity incentive plan during the reporting period.
VII. Significant related-party transactions
1. Related-party transactions concerning routine operation
□ Applicable √ Inapplicable
No such cases in the reporting period.
2. Related-party transactions arising from asset acquisition or sale
□ Applicable √ Inapplicable
No such cases in the reporting period.
3. Significant related-party transactions arising from joint investment in external parties
□ Applicable √ Inapplicable
No such cases in the reporting period.
4. Credits and liabilities with related parties
√ Applicable □ Inapplicable
Was there any credit or liability with any related party for non-operating purpose?
√ Yes □ No
The credits and liabilities with related parties’ receivable:
Newly
Amount
increase Interest in
Non-operati Opening received in Closing
amount in reporting
Related ng capital balance reporting balance
Relationship Reason reporting Rate period
party occupation (RMB Ten period (RMB Ten
period (RMB Ten
or not? thousand) (RMB Ten thousand)
(RMB Ten thousand)
thousand)
thousand)
Creditor’s
Anhui The rights
Nanpeng Company receivable Working
733 732
Papermakin held a 30% from the funds
g Co., Ltd stake in it. related
party
Shenzhen The Creditor’s Working 235 235
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2015 Semi-annual Report of Shenzhen Properties & Resources Development (Group) Ltd.
Guomao Company rights funds
Industry held a receivable
Developmen 38.33% from the
t Co., Ltd. stake in it. related
party
Shenzhen Creditor’s
Wufang The rights
Pottery & Company receivable Working
175 175
Porcelain held a 26% from the funds
Industrial stake in it. related
Co., Ltd party
Under the Creditor’s
same control rights
Shenzhen
of the parent receivable Intra-Group
Guest House 91 91
company of from the funds
Co., Ltd.
the related
Company party
Under the Creditor’s
Shenzhen
same control rights
Investment
of the parent receivable Intra-Group
Property 13 13
company of from the funds
Developmen
the related
t Co., Ltd.
Company party
Influence of the credits
and liabilities with related
All under the risk control of the Company and will not affect the Company’s operating results and
parties on the Company’s
financial situation
operating results and
financial situation
The credits and liabilities with related parties’ payable:
Newly
Amount
increase
Opening returned in Interest in Closing
amount in
balance reporting reporting balance
Related party Relationship Reason reporting Rate
(RMB Ten period period (RMB (RMB Ten
period
thousand) (RMB Ten Ten thousand) thousand)
(RMB Ten
thousand)
thousand)
SZPRD Jifa Joint venture
Intra-Group
Warehouse of the 2,630 2,630
funds
Co., Ltd Company
Shenzhen Joint venture
Intra-Group
Tian’an of the 411 110 521
funds
International Company
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2015 Semi-annual Report of Shenzhen Properties & Resources Development (Group) Ltd.
Building
Property
Management
Co., Ltd
Influence of the credits and
liabilities with related parties
All under the risk control of the Company and will not affect the Company’s operating results and
on the Company’s operating
financial situation
results and financial
situation
5. Other significant related-party transactions
□ Applicable √ Inapplicable
No other significant related-party transactions occurred to the Company during the reporting period.
VIII. Particulars about the non-operating occupation of funds by the controlling shareholder
and other related parties of the Company
□ Applicable √ Inapplicable
The Company was not involved in the non-operating occupation of funds by the controlling shareholder and other related parties
during the reporting period.
IX. Particulars about significant contracts and their fulfillment
1. Particulars about trusteeship, contract and lease
(1) Trusteeship
□ Applicable √ Inapplicable
There was no any trusteeship of the Company in the reporting period.
(2) Contract
□ Applicable √ Inapplicable
There was no any contract of the Company in the reporting period.
(3) Lease
□ Applicable √ Inapplicable
There was no any lease of the Company in the reporting period.
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2015 Semi-annual Report of Shenzhen Properties & Resources Development (Group) Ltd.
2. Guarantees provided by the Company
√ Applicable □ Inapplicable
Unit: RMB Ten Thousand Yuan
Guarantees provided by the Company for external parties (excluding those for subsidiaries)
Disclosure Guarante
Actual
date of Actual e for a
Amount for occurrence date Type of Period of Executed
Guaranteed party relevant guarantee related
guarantee (date of guarantee guarantee or not
announcem amount party or
agreement)
ent not
Total external guarantee line Total actual occurred amount
approved during the reporting 0 of external guarantee during 0
period (A1) the reporting period (A2)
Total external guarantee line Total actual external guarantee
that has been approved at the 0 balance at the end of the 0
end of the reporting period (A3) reporting period (A4)
Guarantees provided by the Company for its subsidiaries
Disclosure Guarante
Actual
date of Actual e for a
Amount for occurrence date Type of Period of Executed
Guaranteed party relevant guarantee related
guarantee (date of guarantee guarantee or not
announcem amount party or
agreement)）
ent not
Dongguan
Guomao
Changsheng Real
1 Apr. 2015 1,000 16 Apr. 2015 1,000 Pledge 1 year No Yes
Estate
Development Co.,
Ltd.
Shenzhen Guomao
Joint-liability
Vehicle Industry 1 Apr. 2015 5,000 17 Apr. 2015 5,000 1 year No Yes
guarantee
Co., Ltd.
Shenzhen Guomao Joint-liability
21 Apr.
Vehicle Industry 44,000 11 Jan. 2013 16,924 guarantee; 3 years No Yes
2012
Co., Ltd. pledge
Dongguan
Guomao
Changsheng Real 24 Apr. Joint-liability
45,000 20 Jun. 2014 7,467 3 years No Yes
Estate 2013 guarantee
Development Co.,
Ltd.
Total guarantee line approved 15,000 Total actual occurred amount 12,630
21
2015 Semi-annual Report of Shenzhen Properties & Resources Development (Group) Ltd.
for the subsidiaries during the of guarantee for the
reporting period (B1) subsidiaries during the
reporting period (B2)
Total guarantee line that has
Total actual guarantee balance
been approved for the
209,000 for the subsidiaries at the end 30,391
subsidiaries at the end of the
of the reporting period (B4)
reporting period (B3)
Guarantees provided by the Company for its subsidiaries
Disclosure Guarante
Actual
date of Actual e for a
Amount for occurrence date Type of Period of Executed
Guaranteed party relevant guarantee related
guarantee (date of guarantee guarantee or not
announcem amount party or
agreement)）
ent not
Shenzhen Guomao Joint-liability
23 Apr.
Car Rental Co., 4,000 25 Jul. 2014 2,000 guarantee; 1 year No Yes
2014
Ltd. pledge
Shenzhen Guomao
Vehicle Industry 1 Apr. 2015 5,000 17 Apr. 2015 5,000 Pledge 1 year No Yes
Co., Ltd.
The total amount of actual
The total amount of guarantee
occurrence of guarantee for
limits for subsidiaries approved 0 0
subsidiaries in the reporting
in the reporting period (C1)
period (C2)
The total balance of actual
The total amount of guarantee
guarantee for subsidiaries up
for subsidiaries approved up to 0 2,000
to the end of reporting period
the end of reporting period (C3)
(C4)
The total amount of guarantee by the Company (the total amount of the first three items)
The total amount of guarantee The total amount of actual
limits approved in the reporting 15,000 occurrence of guarantee in the 12,630
period (A1+B1+C1) reporting period (A2+B2+C2)
The total amount of guarantee The total balance of actual
approved up to the end of 209,000 guarantee up to the end of 32,391
reporting period (A3+B3+C3) reporting period (A4+B4+C4)
Proportion of total amount of actual guarantee (A4+B4+C4) in
16.43%
the net assets of the Company
Among which:
Amount of guarantees provided for shareholders, actual
0
controller and other related parties (D)
Amount of debt guarantees provided directly or indirectly for 16,924
22
2015 Semi-annual Report of Shenzhen Properties & Resources Development (Group) Ltd.
parties with asset-liability ratio exceeding 70% (E)
Proportion of total guarantee amount exceeding 50% of the
0
Company’s net assets (F)
Total amount of the above three guarantees (D+E+F) 24,924
The Company provided a total guarantee amount of RMB 323.91
million to external parties, including a guarantee amount of RMB
229.24 million provided by the Company for its subsidiaries and a
guarantee amount of RMB 94.67million provided by subsidiaries to
Explanation on possibility of taking several and joint liability
subsidiaries or the Company. Neither the Company nor its
involving immature guarantees (if any)
subsidiaries provided guarantees for any company not in the
consolidation scope. Up to the end of the reporting period,
subsidiaries were in normal operation and the loans were also in a
normal status, with the risk being controllable.
Explanation on external guarantees provided by violating
Naught
regulated procedures (if any)
Particulars about guarantees provided in a compound way
(1) Illegal provision of guarantees for external parties
□ Applicable √ Inapplicable
No such cases in the reporting period.
3. Other significant contracts
□ Applicable √ Inapplicable
No such cases in the reporting period.
4. Other significant transactions
□ Applicable √ Inapplicable
No such cases in the reporting period.
X. Commitments made by the Company or any shareholder 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.
XI. Engagement and disengagement of the CPAs firm
Has the semi-annual financial report been audited?
23
2015 Semi-annual Report of Shenzhen Properties & Resources Development (Group) Ltd.
□ Yes √ No
The semi-annual financial report had not been audited.
XII. Punishments and rectifications
□ Applicable √ Inapplicable
No punishments or rectifications in the reporting period.
XIII. Delisting risk due to violation of any law or regulation
□ Applicable √ Inapplicable
No such risk in the reporting period.
XIV. Other significant events
□ Applicable √ Inapplicable
No other significant event in the reporting period that needs to be explained.
24
2015 Semi-annual Report of Shenzhen Properties & Resources Development (Group) Ltd.
Section VI. Change in Shares & Shareholders
I. Change in shares
Unit: Share
Before the change Increase/decrease (+, -) After the change
Capitalizat
Issuance ion of
Bonus Proportio
Amount Proportion of new public Others Subtotal Amount
shares n
shares reserve
fund
Reasons for changes in shares
□ Applicable √ Inapplicable
Approval of share changes
□ Applicable √ Inapplicable
Transfer of share ownership
□ Applicable √ Inapplicable
Effects of changes in shares on the basic EPS, diluted EPS, net assets per share attributable to common shareholders of the Company
and other financial indexes over the last year and the last reporting period
□ Applicable √ Inapplicable
Other contents that the Company considers necessary or is required by the securities regulatory authorities to disclose
□ Applicable √ Inapplicable
Change of the total shares, shareholder structure, asset structure and liability structure
□ Applicable √ Inapplicable
II. Total number of shareholders and their shareholdings
Unit: Share
Total number of preferred share
Total number of common holders who had resumed their
shareholders at the end of the 35,206 voting right at the end of the 0
reporting period reporting period (if any) (see
note 8)
Shareholdings of common shareholders holding more than 5% shares or top 10 common shareholders
Number Increase/de Number Pledged or frozen shares
Shareholdin Number of
of crease of of
Name of Nature of g non-restrict
common shares restricted Status of
shareholder shareholder percentage ed common Number of shares
shares during the common shares
(%) shares held
held at the reporting shares
25
2015 Semi-annual Report of Shenzhen Properties & Resources Development (Group) Ltd.
end of the period held
reporting
period
SHENZHEN
CONSTRUCTI
ON
State-owned 323,796,3 293,997,3
INVESTMENT 54.33% 29,798,954
corporation 24 70
HOLDINGS
CORPORATIO
N
SHENZHEN
INVESTMENT
MANAGEME State-owned 56,582,57 56,582,57
9.49%
NT corporation 3 3
CORPORATIO
N
CITIC
State-owned
SECURITIES 0.54% 3,194,200
corporation
CO., LTD.
CHINA
FOREIGN
ECONOMY
AND TRADE State-owned
0.35% 2,060,063
TRUST CO., corporation
LTD.-NEW
STOCK+ARBI
TRAGE
SHENZHEN
DUTY-FREE
State-owned
COMMODITY 0.29% 1,730,300 1,730,300
corporation
ENTERPRISES
CO., LTD.
ZHANG Domestic
0.22% 1,322,900
HONGFENG individual
CHINA
RESOURCES
SZITIC TRUST
Domestic
CO.,
non-state-owned 0.21% 1,230,400
LTD.-RUNJIN
corporation
NO. 168
ASSEMBLED
FUNDS
26
2015 Semi-annual Report of Shenzhen Properties & Resources Development (Group) Ltd.
TRUST
SCHEME
Domestic
CHEN LIYING 0.18% 1,076,051
individual
DBS
VICKERS(HO
NG Foreign individual 0.17% 1,000,000
KONG)LTD
A/C CLIENTS
ZHONGLIAN Domestic
ENTERPRISE non-state-owned 0.16% 980,000
CO., LTD. corporation
Explanation on associated The first and second principal shareholders of the Company are managed by Shenzhen
relationship or/and persons acting in Investment Holding Corporation, the actual controlling shareholder of the Company. Other
concert among the above-mentioned than that, it is unknown whether the remaining 9 shareholders are related parties or
shareholders: acting-in-concert parties.
Shareholdings of the top ten common shareholders holding non-restricted shares
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
RMB ordinary
CITIC SECURITIES CO., LTD. 3,194,200 3,194,200
share
CHINA FOREIGN ECONOMY
RMB ordinary
AND TRADE TRUST CO., 2,060,063 2,060,063
share
LTD.-NEW STOCK+ARBITRAGE
RMB ordinary
ZHANG HONGFENG 1,322,900 1,322,900
share
CHINA RESOURCES SZITIC
TRUST CO., LTD.-RUNJIN NO. RMB ordinary
1,230,400 1,230,400
168 ASSEMBLED FUNDS TRUST share
SCHEME
Domestically
CHEN LIYING 1,076,051 listed foreign 1,076,051
share
Domestically
DBS VICKERS (HONG KONG)
1,000,000 listed foreign 1,000,000
LTD A/C CLIENTS
share
ZHONGLIAN ENTERPRISE CO., 980,000 RMB ordinary 980,000
27
2015 Semi-annual Report of Shenzhen Properties & Resources Development (Group) Ltd.
LTD. share
SHENZHEN SENRUI
INVESTEMNT MANAGEMENT
RMB ordinary
CO., LTD. – SENRUI DULI 800,000 800,000
share
JINGQI NO. 3 SECURITIES
INVESTMENT FUNDS
BEIJING FENGDAN RMB ordinary
720,000 720,000
INVESTMENT CO., LTD. share
Explanation on associated
relationship or/and persons acting in
concert among the top ten The first and second principal shareholders of the Company are managed by Shenzhen
non-restricted common shareholders Investment Holding Corporation, the actual controlling shareholder of the Company. Other
and between the top ten than that, it is unknown whether the remaining 9 shareholders are related parties or
non-restricted common shareholders acting-in-concert parties.
and the top ten common
shareholders
Did any of the top 10 common shareholders or the top 10 non-restricted common shareholders of the Company conduct any
promissory repo during the reporting period?
□ Yea √ No
No such cases in the reporting period.
III. Change of the controlling shareholder or the actual controller
Change of the controlling shareholder in the reporting period
□ Applicable √ Inapplicable
The controlling shareholder of the Company did not change in the reporting period.
Change of the actual controller in the reporting period
□ Applicable √ Inapplicable
The actual controller of the Company did not change in the reporting period.
IV. Any shareholding increase plan proposed or implemented by any shareholder or its act-in-concert party during the
reporting period
□ Applicable √ Inapplicable
To the best knowledge of the Company, no shareholder or its act-in-concert party proposed or implemented any shareholding increase
plan during the reporting period.
28
2015 Semi-annual Report of Shenzhen Properties & Resources Development (Group) Ltd.
Section VII. Preference Shares
□ Applicable √ Inapplicable
No preference shares in the reporting period.
29
2015 Semi-annual Report of Shenzhen Properties & Resources Development (Group) Ltd.
Section VIII. Directors, Supervisors & Senior Management Staff
I. Change of shareholdings of directors, supervisors and senior management staff
□ Applicable √ Inapplicable
There was no change in the shareholdings of directors, supervisors and senior management staff in the reporting period. For details,
please refer to the 2014 Annual Report.
II. Change of directors, supervisors and senior management staff
□ Applicable √ Inapplicable
There was no change of the directors, supervisors and senior management staff. For details, please refer to the 2014 Annual Report.
30
2015 Semi-annual Report of Shenzhen Properties & Resources Development (Group) Ltd.
Section IX. Financial Report
I. Audit report
Has this semi-annual report been audited?
□ Yes √ No
The semi-annual financial report has not been audited.
II. Financial statements
Currency unit for the statements in the notes to these financial statements: RMB Yuan
1. Consolidated balance sheet
Prepared by Shenzhen Properties & Resources Development (Group) Ltd.
30 June 2015
Unit: RMB Yuan
Item Closing balance Opening balance
Current assets:
Monetary funds 482,997,421.84 808,963,376.68
Settlement reserves
Intra-group lendings
Financial assets measured at fair
value of which changes are recorded in
current profits and losses
Derivative financial assets
Notes receivable
Accounts receivable 40,331,332.76 26,585,132.12
Accounts paid in advance 33,968,177.26 25,989,832.24
Premiums receivable
Reinsurance premiums receivable
Receivable reinsurance contract
reserves
Interest receivable
Dividend receivable
Other accounts receivable 8,474,056.83 6,638,425.25
Financial assets purchased under
31
2015 Semi-annual Report of Shenzhen Properties & Resources Development (Group) Ltd.
agreements to resell
Inventories 2,493,227,840.13 2,323,472,671.20
Assets held for sale
Non-current assets due within 1 year
Other current assets
Total current assets 3,058,998,828.82 3,191,649,437.49
Non-current assets:
Loans by mandate and advances
granted
Available-for-sale financial assets 14,500,000.00 18,493,000.00
Held-to-maturity investments
Long-term accounts receivable
Long-term equity investment 33,555,348.58 32,888,939.41
Investing real estate 247,718,707.95 250,014,034.94
Fixed assets 71,103,117.82 64,069,233.96
Construction in progress
Engineering materials
Disposal of fixed assets
Production biological assets
Oil-gas assets
Intangible assets 96,216,335.51 99,792,587.03
R&D expense
Goodwill
Long-term deferred expenses 2,288,887.55 2,553,053.03
Deferred income tax assets 224,912,402.30 216,552,790.60
Other non-current assets 7,275,069.00 7,275,069.00
Total of non-current assets 697,569,868.71 691,638,707.97
Total assets 3,756,568,697.53 3,883,288,145.46
Current liabilities:
Short-term borrowings 88,000,000.00 100,000,000.00
Borrowings from the Central Bank
Customer bank deposits and due to
banks and other financial institutions
Intra-group borrowings
Financial liabilities measured at fair
32
2015 Semi-annual Report of Shenzhen Properties & Resources Development (Group) Ltd.
value of which changes are recorded in
current profits and losses
Derivative financial liabilities
Notes payable
Accounts payable 140,537,143.91 175,347,021.19
Accounts received in advance 121,945,329.53 28,756,337.08
Financial assets sold and repurchased
Handling charges and commissions
payable
Payroll payable 43,049,064.32 57,777,210.65
Tax payable 892,499,824.67 1,015,363,636.69
Interest payable 572,570.12 562,879.72
Dividend payable
Other accounts payable 126,670,935.97 111,032,824.55
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
161,243,352.00 5,000,000.00
year
Other current liabilities
Total current liabilities 1,574,518,220.52 1,493,839,909.88
Non-current liabilities:
Long-term borrowings 74,673,000.00 177,613,352.00
Bonds payable
Of which: preference shares
Perpetual bonds
Long-term payables
Long-term payroll payables
Specific payables
Estimated liabilities
Deferred income 20,419,239.87 21,765,846.69
33
2015 Semi-annual Report of Shenzhen Properties & Resources Development (Group) Ltd.
Deferred income tax liabilities 29,156.31 257,625.00
Other non-current liabilities 114,727,801.36 114,706,662.76
Total non-current liabilities 209,849,197.54 314,343,486.45
Total liabilities 1,784,367,418.06 1,808,183,396.33
Owners’ equity:
Share capital 595,979,092.00 595,979,092.00
Other equity instruments
Of which: preference shares
Perpetual bonds
Capital reserves 119,951,533.93 119,951,533.93
Less: Treasury stock
Other comprehensive income -6,957,042.69 -4,006,141.53
Specific reserves
Surplus reserves 136,591,232.84 136,591,232.84
Provisions for general risks
Retained profits 1,125,774,376.33 1,225,726,944.83
Total equity attributable to owners of
1,971,339,192.41 2,074,242,662.07
the Company
Minority interests 862,087.06 862,087.06
Total owners’ equity 1,972,201,279.47 2,075,104,749.13
Total liabilities and owners’ equity 3,756,568,697.53 3,883,288,145.46
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
Unit: RMB Yuan
Item Closing balance Opening balance
Current assets:
Monetary funds 133,112,789.35 338,036,109.52
Financial assets measured at fair
value of which changes are recorded in
current profits and losses
Derivative financial assets
Notes receivable
34
2015 Semi-annual Report of Shenzhen Properties & Resources Development (Group) Ltd.
Accounts receivable 1,697,688.47 1,029,211.52
Accounts paid in advance
Interest receivable
Dividend receivable
Other accounts receivable 1,812,002,045.51 1,758,238,266.73
Inventories 446,171,517.97 385,762,064.03
Assets held for sale
Non-current assets due within 1 year
Other current assets
Total current assets 2,392,984,041.30 2,483,065,651.80
Non-current assets:
Available-for-sale financial assets 230,500.00 4,223,500.00
Held-to-maturity investments
Long-term accounts receivable
Long-term equity investment 280,112,609.56 279,446,200.39
Investing real estate 162,905,795.42 162,666,161.07
Fixed assets 10,461,635.34 11,701,031.08
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 1,383,809.55 1,470,297.69
Deferred income tax assets
Other non-current assets
Total of non-current assets 455,094,349.87 459,507,190.23
Total assets 2,848,078,391.17 2,942,572,842.03
Current liabilities:
Short-term borrowings
Financial liabilities measured at fair
value of which changes are recorded in
current profits and losses
35
2015 Semi-annual Report of Shenzhen Properties & Resources Development (Group) Ltd.
Derivative financial liabilities
Notes payable
Accounts payable 27,410,489.41 27,475,005.86
Accounts received in advance 93,778.50 556,723.50
Payroll payable 9,012,913.60 9,765,464.25
Tax payable 5,079,502.18 44,829,812.84
Interest payable 670,734.38 621,676.25
Dividend payable
Other accounts payable 1,379,904,079.20 1,362,785,410.73
Liabilities held for sale
Non-current liabilities due within 1
260,000,000.00
year
Other current liabilities
Total current liabilities 1,682,171,497.27 1,446,034,093.43
Non-current liabilities:
Long-term borrowings 74,673,000.00 276,370,000.00
Bonds payable
Of which: preference shares
Perpetual bonds
Long-term payables
Long-term payroll payables
Specific payables
Estimated liabilities
Deferred income
Deferred income tax liabilities 257,625.00
Other non-current liabilities
Total non-current liabilities 74,673,000.00 276,627,625.00
Total liabilities 1,756,844,497.27 1,722,661,718.43
Owners’ equity:
Share capital 595,979,092.00 595,979,092.00
Other equity instruments
Of which: preference shares
Perpetual bonds
Capital reserves 94,057,859.68 94,057,859.68
36
2015 Semi-annual Report of Shenzhen Properties & Resources Development (Group) Ltd.
Less: Treasury stock
Other comprehensive income 2,933,175.45
Specific reserves
Surplus reserves 135,934,422.40 135,934,422.40
Retained profits 265,262,519.82 391,006,574.07
Total owners’ equity 1,091,233,893.90 1,219,911,123.60
Total liabilities and owners’ equity 2,848,078,391.17 2,942,572,842.03
3. Consolidated income statement
Unit: RMB Yuan
Item Reporting period Same period of last year
I. Operating revenues 338,761,310.39 501,367,559.78
Including: Sales income 338,761,310.39 501,367,559.78
Interest income
Premium income
Handling charge and commission
income
II. Operating costs 302,467,177.17 363,599,623.62
Including: Cost of sales 199,054,160.59 230,835,231.01
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 46,781,146.09 82,288,326.22
Selling and distribution expenses 12,658,266.69 5,167,082.37
Administrative expenses 48,330,181.70 50,185,597.53
Financial expenses -4,714,375.50 -6,325,233.01
Asset impairment loss 357,797.60 1,448,619.50
Add: Gain/(loss) from change in fair
value (“-” means loss)
37
2015 Semi-annual Report of Shenzhen Properties & Resources Development (Group) Ltd.
Gain/(loss) from investment (“-”
6,767,542.26 6,261,748.54
means loss)
Including: share of profits in
666,409.17 -1,283,506.52
associates and joint ventures
Foreign exchange gains (“-” means
loss)
III. Business profit (“-” means loss) 43,061,675.48 144,029,684.70
Add: non-operating income 561,079.38 4,163,164.65
Including: Gains on disposal of
1,892,678.92
non-current assets
Less: non-operating expense 1,097,878.15 380,296.86
Including: Losses on disposal of
426,921.60 54,757.13
non-current assets
IV. Total profit (“-” means loss) 42,524,876.71 147,812,552.49
Less: Income tax expense 11,362,044.97 35,738,015.00
V. Net profit (“-” means loss) 31,162,831.74 112,074,537.49
Net profit attributable to owners of
31,162,831.74 112,074,537.49
the Company
Minority shareholders’ income
VI. After-tax net amount of other
-2,950,901.16 447,993.19
comprehensive incomes
After-tax net amount of other
comprehensive incomes attributable to -2,950,901.16 447,993.19
owners of the Company
(I) Other comprehensive incomes
that will not be reclassified into gains and
losses
1. Changes in net liabilities or
assets with a defined benefit plan upon
re-measurement
2. Enjoyable shares in other
comprehensive incomes in investees that
cannot be reclassified into gains and
losses under the equity method
(II) Other comprehensive incomes
that will be reclassified into gains and -2,950,901.16 447,993.19
losses
1. Enjoyable shares in other
comprehensive incomes in investees that
38
2015 Semi-annual Report of Shenzhen Properties & Resources Development (Group) Ltd.
will be reclassified into gains and losses
under the equity method
2. Gains and losses on fair
value changes of available-for-sale -2,933,175.45
financial assets
3. Gains and losses on
reclassifying held-to-maturity
investments into available-for-sale
financial assets
4. Effective hedging gains and
losses on cash flows
5. Foreign-currency financial
-17,725.71 447,993.19
statement translation difference
6. Other
After-tax net amount of other
comprehensive incomes attributable to
minority shareholders
VII. Total comprehensive incomes 28,211,930.58 112,522,530.68
Attributable to owners of the
28,211,930.58 112,522,530.68
Company
Attributable to minority
shareholders
VIII. Earnings per share
(I) Basic earnings per share 0.0523 0.1881
(II) Diluted earnings per share 0.0523 0.1881
Where business mergers under the same control occurred in this reporting period, the net profit achieved by the merged parties before
the business mergers was RMB 0.00, with the corresponding amount for the last period being RMB 0.00.
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
Unit: RMB Yuan
Item Reporting period Same period of last year
I. Total sales 29,852,953.97 32,117,214.00
Less: cost of sales 8,215,152.66 13,005,498.88
Business taxes and surcharges 4,150,101.48 3,371,843.66
39
2015 Semi-annual Report of Shenzhen Properties & Resources Development (Group) Ltd.
Distribution expenses
Administrative expenses 19,815,940.03 18,969,355.25
Financial costs -2,306,571.44 -2,780,553.56
Impairment loss -616,823.91 -272,589.07
Add: gain/(loss) from change in fair
value (“-” means loss)
Gain/(loss) from investment (“-”
6,600,847.72 2,094,893.48
means loss)
Including: income form investment
666,409.17 -1,283,506.52
on associates and joint ventures
II. Business profit (“-” means loss) 7,196,002.87 1,918,552.32
Add: non-operating income 15,814.45 1,746,513.69
Including: Gains on disposal of
431,742.33
non-current assets
Less: non-operating expense 466,563.12
Including: Losses on disposal of
82,007.63
non-current assets
III. Total profit (“-” means loss) 6,745,254.20 3,665,066.01
Less: Income tax expense 1,373,908.21
IV. Net profit (“-” means loss) 5,371,345.99 3,665,066.01
V. After-tax net amount of other
-2,933,175.45
comprehensive incomes
(I) Other comprehensive incomes that
will not be reclassified into gains and
losses
1. Changes in net liabilities or
assets with a defined benefit plan upon
re-measurement
2. Enjoyable shares in other
comprehensive incomes in investees
that cannot be reclassified into gains
and losses under the equity method
(II) Other comprehensive incomes
that will be reclassified into gains and -2,933,175.45
losses
1. Enjoyable shares in other
comprehensive incomes in investees
that will be reclassified into gains and
40
2015 Semi-annual Report of Shenzhen Properties & Resources Development (Group) Ltd.
losses under the equity method
2. Gains and losses on fair value
changes of available-for-sale financial -2,933,175.45
assets
3. Gains and losses on
reclassifying held-to-maturity
investments into available-for-sale
financial assets
4. Effective hedging gains and
losses on cash flows
5. Foreign-currency financial
statement translation difference
6. Other
VI. Total comprehensive incomes 2,438,170.54 3,665,066.01
VII. Earnings per share
(I) Basic earnings per share 0.0090 0.0061
(II) Diluted earnings per share 0.0090 0.0061
5. Consolidated cash flow statement
Unit: RMB Yuan
Item Reporting period Same period of last year
I. Cash flows from operating activities:
Cash received from sale of
460,272,796.97 486,571,481.51
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 financial
assets measured at fair value of which
41
2015 Semi-annual Report of Shenzhen Properties & Resources Development (Group) Ltd.
changes are recorded into current gains
and losses
Cash received from interest, handling
charges and commissions
Net increase of intra-group
borrowings
Net increase of funds in repurchase
business
Tax refunds received
Other cash received relating to
8,644,723.51 8,771,553.27
operating activities
Subtotal of cash inflows from operating
468,917,520.48 495,343,034.78
activities
Cash paid for goods and services 279,997,430.62 290,827,700.91
Net increase of customer lendings
and advances
Net increase of funds deposited in the
central bank and amount due from
banks
Cash for paying claims of the original
insurance contracts
Cash for paying interest, handling
charges and commissions
Cash for paying policy dividends
Cash paid to and for employees 160,964,525.60 140,770,571.32
Various taxes paid 205,830,929.07 208,267,051.06
Other cash payment relating to
44,033,816.12 45,365,201.86
operating activities
Subtotal of cash outflows from
690,826,701.41 685,230,525.15
operating activities
Net cash flows from operating activities -221,909,180.93 -189,887,490.37
II. Cash flows from investing activities:
Cash received from withdrawal of
6,511,297.75
investments
Cash received from return on
580,374.89
investments
Net cash received from disposal of
605,705.00 1,273,115.00
fixed assets, intangible assets and other
42
2015 Semi-annual Report of Shenzhen Properties & Resources Development (Group) Ltd.
long-term assets
Net cash received from disposal of
subsidiaries or other business units
Other cash received relating to
investing activities
Subtotal of cash inflows from investing
7,697,377.64 1,273,115.00
activities
Cash paid to acquire fixed assets,
intangible assets and other long-term 15,367,108.10 3,725,850.80
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
15,367,108.10 3,725,850.80
investing activities
Net cash flows from investing activities -7,669,730.46 -2,452,735.80
III. Cash Flows from Financing
Activities:
Cash received from capital
contributions
Including: Cash received from
minority shareholder investments by
subsidiaries
Cash received from borrowings 126,303,000.00 251,370,000.00
Cash received from issuance of
bonds
Other cash received relating to
financing activities
Subtotal of cash inflows from financing
126,303,000.00 251,370,000.00
activities
Repayment of borrowings 85,000,000.00 308,916,666.64
Cash paid for interest expenses and
137,350,160.47 159,779,630.63
distribution of dividends or profit
Including: dividends or profit paid
by subsidiaries to minority shareholders
43
2015 Semi-annual Report of Shenzhen Properties & Resources Development (Group) Ltd.
Other cash payments relating to
104,500.00 288,000.00
financing activities
Sub-total of cash outflows from
222,454,660.47 468,984,297.27
financing activities
Net cash flows from financing activities -96,151,660.47 -217,614,297.27
IV. Effect of foreign exchange rate
-235,382.98 53,593.94
changes on cash and cash equivalents
V. Net increase in cash and cash
-325,965,954.84 -409,900,929.50
equivalents
Add: Opening balance of cash and
808,963,376.68 977,171,814.20
cash equivalents
VI. Closing balance of cash and cash
482,997,421.84 567,270,884.70
equivalents
6. Cash flow statement of the Company
Unit: RMB Yuan
Item Reporting period Same period of last year
I. Cash flows from operating activities:
Cash received from sale of
28,663,455.97 27,194,186.50
commodities and rendering of service
Tax refunds received
Other cash received relating to
224,852,837.51 327,703,905.77
operating activities
Subtotal of cash inflows from operating
253,516,293.48 354,898,092.27
activities
Cash paid for goods and services 54,228,447.00 40,238,144.48
Cash paid to and for employees 10,672,508.89 11,337,003.08
Various taxes paid 49,447,323.75 3,867,339.21
Other cash payment relating to
269,534,102.88 790,100,547.89
operating activities
Subtotal of cash outflows from
383,882,382.52 845,543,034.66
operating activities
Net cash flows from operating activities -130,366,089.04 -490,644,942.39
II. Cash flows from investing activities:
Cash received from withdrawal of
6,511,297.75 280,000,000.00
investments
Cash received from return on 580,374.89 4,009,800.00
44
2015 Semi-annual Report of Shenzhen Properties & Resources Development (Group) Ltd.
investments
Net cash received from disposal of
fixed assets, intangible assets and other 260.00
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 investing
7,091,932.64 284,009,800.00
activities
Cash paid to acquire fixed assets,
intangible assets and other long-term 31,074.00 648,059.00
assets
Cash paid for investment
Net cash paid to acquire subsidiaries
and other business units
Other cash payments relating to
investing activities
Subtotal of cash outflows from
31,074.00 648,059.00
investing activities
Net cash flows from investing activities 7,060,858.64 283,361,741.00
III. Cash Flows from Financing
Activities:
Cash received from capital
contributions
Cash received from borrowings 58,303,000.00 271,370,000.00
Cash received from issuance of
bonds
Other cash received relating to
financing activities
Subtotal of cash inflows from financing
58,303,000.00 271,370,000.00
activities
Repayment of borrowings 240,000,000.00
Cash paid for interest expenses and
139,703,417.96 156,942,914.41
distribution of dividends or profit
Other cash payments relating to
208,000.00
financing activities
Sub-total of cash outflows from 139,703,417.96 397,150,914.41
45
2015 Semi-annual Report of Shenzhen Properties & Resources Development (Group) Ltd.
financing activities
Net cash flows from financing activities -81,400,417.96 -125,780,914.41
IV. Effect of foreign exchange rate
-217,671.81 -393,186.04
changes on cash and cash equivalents
V. Net increase in cash and cash
-204,923,320.17 -333,457,301.84
equivalents
Add: Opening balance of cash and
338,036,109.52 420,568,966.65
cash equivalents
VI. Closing balance of cash and cash
133,112,789.35 87,111,664.81
equivalents
7. Consolidated Statement of Changes in Owners’ Equity
Reporting period
Unit: RMB Yuan
Reporting period
Equity attributable to owners of the Company
Other equity
Other Minorit Total
Item instruments Less: General
Share Capital compre Specific Surplus Retaine y owners’
Prefer Perpet treasury risk
capital reserve hensive reserve reserve d profit interests equity
ence ual Other stock reserve
incomes
shares bonds
I. Balance at the 595,97 1,225,7 2,075,1
119,951 -4,006,1 136,591 862,087
end of the 9,092. 26,944. 04,749.
,533.93 41.53 ,232.84 .06
previous year 00 83 13
Add: change of
accounting policy
Correction of
errors in previous
periods
Business
mergers under the
same control
Other
II. Balance at the 595,97 1,225,7 2,075,1
119,951 -4,006,1 136,591 862,087
beginning of the 9,092. 26,944. 04,749.
,533.93 41.53 ,232.84 .06
year 00 83 13
III. Increase/ -2,950,9 -99,952, -102,90
decrease in the 01.16 568.50 3,469.6
46
2015 Semi-annual Report of Shenzhen Properties & Resources Development (Group) Ltd.
period (“-” means 6
decrease)
(I) Total
-2,950,9 31,162, 28,211,
comprehensive
01.16 831.74 930.58
incomes
(II) Capital
increased and
reduced by owners
1. Common
shares increased
by shareholders
2. Capital
increased by
holders of other
equity instruments
3. Amounts
of share-based
payments
recognized in
owners’ equity
4. Other
-131,11 -131,11
(III) Profit
5,400.2 5,400.2
distribution
4 4
1.
Appropriations to
surplus reserves
2.
Appropriations to
general risk
provisions
3.
-131,11 -131,11
Appropriations to
5,400.2 5,400.2
owners (or
4 4
shareholders)
4. Other
(IV) Internal
carry-forward of
owners’ equity
1. New
47
2015 Semi-annual Report of Shenzhen Properties & Resources Development (Group) Ltd.
increase of capital
(or share capital)
from capital public
reserves
2. New
increase of capital
(or share capital)
from surplus
reserves
3. Surplus
reserves for
making up losses
4. Other
(V) Specific
reserve
1. Withdrawn
for the period
2. Used in the
period
(VI) Other
595,97 1,125,7 1,972,2
IV. Closing 119,951 -6,957,0 136,591 862,087
9,092. 74,376. 01,279.
balance ,533.93 42.69 ,232.84 .06
00 33 47
Same period of last year
Unit: RMB Yuan
Same period of last year
Equity attributable to owners of the Company
Other equity Minorit
Other Total
Item instruments y
Less: General
Share Capital compre Specific Surplus Retaine owners’
treasury risk interest
Prefer Perpet equity
capital reserve hensive reserve reserve d profit
stock reserve s
ence ual Other
incomes
shares bonds
I. Balance at the 595,97 1,803,6
120,086 -7,098,7 121,542 972,271 862,087
end of the 9,092. 43,379.
,646.43 16.51 ,385.81 ,884.95 .06
previous year 00 74
Add: change of
accounting policy
Correction of
errors in previous
48
2015 Semi-annual Report of Shenzhen Properties & Resources Development (Group) Ltd.
periods
Business
mergers under the
same control
Other
II. Balance at the 595,97 1,803,6
120,086 -7,098,7 121,542 972,271 862,087
beginning of the 9,092. 43,379.
,646.43 16.51 ,385.81 ,884.95 .06
year 00 74
III. Increase/
decrease in the -135,11 447,993 -36,920, -36,607,
period (“-” means 2.50 .19 235.51 354.82
decrease)
(I) Total
447,993 112,074 112,522
comprehensive
.19 ,537.49 ,530.68
incomes
(II) Capital
increased and
reduced by owners
1. Common
shares increased
by shareholders
2. Capital
increased by
holders of other
equity instruments
3. Amounts
of share-based
payments
recognized in
owners’ equity
4. Other
-148,99 -148,99
(III) Profit
4,773.0 4,773.0
distribution
0 0
1.
Appropriations to
surplus reserves
2.
Appropriations to
general risk
49
2015 Semi-annual Report of Shenzhen Properties & Resources Development (Group) Ltd.
provisions
3.
-148,99 -148,99
Appropriations to
4,773.0 4,773.0
owners (or
0 0
shareholders)
4. Other
(IV) Internal
carry-forward of
owners’ equity
1. New
increase of capital
(or share capital)
from capital public
reserves
2. New
increase of capital
(or share capital)
from surplus
reserves
3. Surplus
reserves for
making up losses
4. Other
(V) Specific
reserve
1. Withdrawn
for the period
2. Used in the
period
-135,11 -135,11
(VI) Other
2.50 2.50
595,97 1,767,0
IV. Closing 119,951 -6,650,7 121,542 935,351 862,087
9,092. 36,024.
balance ,533.93 23.32 ,385.81 ,649.44 .06
00 92
8. Statement of changes in owners’ equity of the Company
Reporting period
Unit: RMB Yuan
Item Reporting period
50
2015 Semi-annual Report of Shenzhen Properties & Resources Development (Group) Ltd.
Other equity instruments Other
Less: Total
Share Prefere Capital comprehe Specific Surplus Retaine
Perpetu treasury owners’
capital nce Other reserve nsive reserve reserve d profit
al bonds stock equity
shares incomes
I. Balance at the
595,979, 94,057,85 2,933,175 135,934,4 391,006 1,219,911
end of the previous
092.00 9.68 .45 22.40 ,574.07 ,123.60
year
Add: change of
accounting policy
Correction of
errors in previous
periods
Other
II. Balance at the
595,979, 94,057,85 2,933,175 135,934,4 391,006 1,219,911
beginning of the
092.00 9.68 .45 22.40 ,574.07 ,123.60
year
III. Increase/
-125,74
decrease in the -2,933,17 -128,677,
4,054.2
period (“-” means 5.45 229.70
5
decrease)
(I) Total
-2,933,17 5,371,3 2,438,170
comprehensive
5.45 45.99 .54
incomes
(II) Capital
increased and
reduced by owners
1. Common
shares increased
by shareholders
2. Capital
increased by
holders of other
equity instruments
3. Amounts
of share-based
payments
recognized in
owners’ equity
4. Other
(III) Profit -131,11 -131,115,
51
2015 Semi-annual Report of Shenzhen Properties & Resources Development (Group) Ltd.
distribution 5,400.2 400.24
4
1.
Appropriations to
surplus reserves
2.
-131,11
Appropriations to -131,115,
5,400.2
owners (or 400.24
4
shareholders)
3. Other
(IV) Internal
carry-forward of
owners’ equity
1. New
increase of capital
(or share capital)
from capital public
reserves
2. New
increase of capital
(or share capital)
from surplus
reserves
3. Surplus
reserves for
making up losses
4. Other
(V) Specific
reserve
1. Withdrawn
for the period
2. Used in the
period
(VI) Other
IV. Closing 595,979, 94,057,85 135,934,4 265,262 1,091,233
balance 092.00 9.68 22.40 ,519.82 ,893.90
Same period of last year
Unit: RMB Yuan
Item Same period of last year
52
2015 Semi-annual Report of Shenzhen Properties & Resources Development (Group) Ltd.
Other equity instruments Other
Less: Total
Share Prefere Capital comprehe Specific Surplus Retaine
Perpetu treasury owners’
capital nce Other reserve nsive reserve reserve d profit
al bonds stock equity
shares incomes
I. Balance at the
595,979, 94,057,85 120,885,5 404,561 1,215,484
end of the previous
092.00 9.68 75.37 ,723.77 ,250.82
year
Add: change of
accounting policy
Correction of
errors in previous
periods
Other
II. Balance at the
595,979, 94,057,85 120,885,5 404,561 1,215,484
beginning of the
092.00 9.68 75.37 ,723.77 ,250.82
year
III. Increase/
-145,32
decrease in the -145,329,
9,706.9
period (“-” means 706.99
9
decrease)
(I) Total
3,665,0 3,665,066
comprehensive
66.01 .01
incomes
(II) Capital
increased and
reduced by owners
1. Common
shares increased
by shareholders
2. Capital
increased by
holders of other
equity instruments
3. Amounts
of share-based
payments
recognized in
owners’ equity
4. Other
(III) Profit -148,99 -148,994,
53
2015 Semi-annual Report of Shenzhen Properties & Resources Development (Group) Ltd.
distribution 4,773.0 773.00
0
1.
Appropriations to
surplus reserves
2.
-148,99
Appropriations to -148,994,
4,773.0
owners (or 773.00
0
shareholders)
3. Other
(IV) Internal
carry-forward of
owners’ equity
1. New
increase of capital
(or share capital)
from capital public
reserves
2. New
increase of capital
(or share capital)
from surplus
reserves
3. Surplus
reserves for
making up losses
4. Other
(V) Specific
reserve
1. Withdrawn
for the period
2. Used in the
period
(VI) Other
IV. Closing 595,979, 94,057,85 120,885,5 259,232 1,070,154
balance 092.00 9.68 75.37 ,016.78 ,543.83
54
2015 Semi-annual Report of Shenzhen Properties & Resources Development (Group) Ltd.
Section X. Documents Available For Reference
I. Accounting statements with the signatures and seals of the Legal Representative, the Chief
Financial Officer and the person in charge of the accounting work;
II. Texts of all the Company’s documents ever disclosed on Securities Times and Hong Kong
Ta Kung Pao in the reporting period, and the originals of the public notices.
55