Shenzhen Properties & Resources Development (Group) Ltd. Abstract of Third Quarter Report 2016
Stock code: 000011, 200011 Stock name: SZPRD A, SZPRD B Announcement No.: 2016-21
SHENZHEN PROPERTIES & RESOURCES DEVELOPMENT (GROUP) LTD.
ABSTRACT OF THIRD QUARTER REPORT 2016
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Shenzhen Properties & Resources Development (Group) Ltd. Abstract of Third Quarter Report 2016
Section I Important Statements
The board of directors (the “Board”), the board of supervisors (the “Board of Supervisors”) as well
as the directors, supervisors and senior management of Shenzhen Properties & Resources
Development (Group) Ltd. (the “Company”) hereby guarantee the factuality, accuracy and
completeness of the contents of this Report, and shall be jointly and severally liable for any false
representation, misleading statements or material omissions in this Report.
All the directors attended the board meeting for the review of this Report.
Chen Yugang, head of the Company, Wang Hangjun, accounting head for this Report, and Shen
Xueying, head of the accounting organ (head of accounting), hereby guarantee that the financial
statements carried in this Report are factual, accurate and complete.
This Report has been prepared in both Chinese and English. Should there be any discrepancies or
misunderstandings between the two versions, the Chinese version shall prevail.
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Shenzhen Properties & Resources Development (Group) Ltd. Abstract of Third Quarter Report 2016
Section II Financial Highlights & Shareholder Changes
I Highlights of accounting data and financial indicators
Whether the Company performs any retroactive adjustments to or restatements of its accounting data of last year due to change in
accounting policies or correction of accounting errors
□ Yes √ No
30 September 2016 31 December 2015 +/- (%)
Total assets (RMB) 6,649,735,329.52 4,379,763,486.10 51.83%
Net assets attributable to
shareholders of the Company 2,045,647,093.13 2,099,906,766.61 -2.58%
(RMB)
January-September
July-September 2016 YoY +/- (%) YoY +/- (%)
2016
Operating revenues (RMB) 157,661,237.17 -46.97% 529,718,717.13 -16.72%
Net profit attributable to
shareholders of the Company -1,953,780.96 -112.78% -7,202,485.59 -115.50%
(RMB)
Net profit attributable to
shareholders of the Company
-2,164,014.76 -114.28% -8,029,296.67 -119.07%
excluding exceptional profit and
loss (RMB)
Net cash flows from operating
-- -- 2,101,061,539.92 5,410.72%
activities (RMB)
Basic earnings per share
-0.0033 -112.89% -0.0121 -115.53%
(RMB/share)
Diluted earnings per share
-0.0033 -112.89% -0.0121 -115.53%
(RMB/share)
Weighted average return on equity
-0.09% -0.85% -0.35% -2.65%
(%)
Unit: RMB
Item January-September 2016 Note
Profit/loss on disposal of non-current assets (including offset asset
-182,886.11
impairment provisions)
Impairment provision reversal for accounts receivable on which
11,729.17
the impairment test is carried out separately
Non-operating revenue and expense other than the above 1,252,108.15
Less: Corporate income tax 254,140.13
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Shenzhen Properties & Resources Development (Group) Ltd. Abstract of Third Quarter Report 2016
Total 826,811.08 --
Explanation of why the Company classified an item as exceptional profit/loss according to the definition in the Explanatory
Announcement No. 1 on Information Disclosure for Companies Offering Their Securities to the Public—Exceptional Profit and Loss,
or reclassified any exceptional profit/loss item given as an example in the said explanatory announcement to recurrent profit/loss
□ Applicable √ Not applicable
No such cases in the Reporting Period.
II Total number of shareholders and shareholdings of top 10 shareholders at the period-end
1. Total number of ordinary shareholders and preference shareholders who had resumed their voting right
& shareholdings of top 10 shareholders at the period-end
Unit: share
Total number of preference
Total number of ordinary shareholders who had
shareholders at the end of the 41,123 resumed their voting right at 0
Reporting Period the end of the Reporting
Period (if any)
Shareholdings of top 10 shareholders
Number of Pledged or frozen shares
Name of Nature of Shareholding Number of shares
restricted shares
shareholder shareholder percentage held Status Number
held
SHENZHEN
CONSTRUCTIO
N State-owned
54.33% 323,796,324 293,997,370
INVESTMENT corporation
HOLDINGS
CORPORATION
SHENZHEN
INVESTMENT State-owned
9.49% 56,582,573 56,582,573
MANAGEMENT corporation
CORPORATION
Domestic
DU XINYE 0.65% 3,880,800
individual
Domestic
ZHOU QUN 0.52% 3,115,450
individual
Domestic
DU YUNFENG 0.40% 2,223,000
individual
SHENZHEN Domestic
DUTY-FREE non-state-owned 0.29% 1,730,300 1,730,300
COMMODITY corporation
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Shenzhen Properties & Resources Development (Group) Ltd. Abstract of Third Quarter Report 2016
ENTERPRISES
CO., LTD.
Foreign
MAI FURONG 0.27% 1,514,600
individual
SHENZHEN
Domestic
SONGKAI
non-state-owned 0.22% 1,315,500
EQUIPMENT
corporation
CO., LTD.
Domestic
YANG YAOCHU 0.22% 1,310,620
individual
Domestic
CHEN LIYING 0.18% 1,076,051
individual
Shareholdings of top 10 non-restricted shareholders
Type of shares
Name of shareholder Number of non-restricted shares held at the period-end
Type Number
SHENZHEN CONSTRUCTION
RMB ordinary
INVESTMENT HOLDINGS 29,798,954 29,798,954
share
CORPORATION
RMB ordinary
DU XINYE 3,880,800 3,880,800
share
RMB ordinary
ZHOU QUN 3,115,450 3,115,450
share
RMB ordinary
DU YUNFENG 2,223,000 2,223,000
share
Domestically
MAI FURONG 1,514,600 listed foreign 1,514,600
share
SHENZHEN SONGKAI RMB ordinary
1,315,500 1,315,500
EQUIPMENT CO., LTD. share
Domestically
YANG YAOCHU 1,310,620 listed foreign 1,310,620
share
Domestically
CHEN LIYING 1,076,051 listed foreign 1,076,051
share
Domestically
LI JING 781,740 listed foreign 781,740
share
GUOYUAN SECURITIES 770,754 Domestically 770,754
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Shenzhen Properties & Resources Development (Group) Ltd. Abstract of Third Quarter Report 2016
BROKERAGE (HONG KONG) listed foreign
LIMITED share
The biggest shareholder of the Company is under Shenzhen Investment Holding Corporation,
Related or act-in-concert parties
the actual controlling shareholder of the Company. Other than that, it is unknown whether
among the shareholders above
there are related parties or act-in-concert parties among the other nine shareholders.
Top 10 ordinary shareholders
conducting securities margin trading Zhou Qun, Du Xinye and Du Yunfeng hold the shares in their credit accounts.
(if any)
Did any of the top 10 ordinary shareholders or the top 10 non-restricted ordinary shareholders of the Company conduct any
promissory repo during the Reporting Period?
□ Yea √ No
No such cases in the Reporting Period.
2. Total number of preference shareholders and shareholdings of the top 10 of them at the period-end
□ Applicable √ Not applicable
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Shenzhen Properties & Resources Development (Group) Ltd. Abstract of Third Quarter Report 2016
Section III Significant Events
I Changes in main accounting statement items and financial indicators in the Reporting
Period, as well as reasons for the changes
√ Applicable □ Not applicable
1. Monetary funds at the period-end stood at RMB2,717,238,442.31, up 187.31% from the year-beginning, mainly
because the advances from house buyers increased.
2. Accounts paid in advance at the period-end stood at RMB216,593,583.78, up 662.23% from the year-beginning,
mainly because the taxes prepaid as required increased.
3. Other current assets at the period-end stood at RMB0.00, down 100.00% from the year-beginning, mainly
because they were transferred to the inventories item as required.
4. Deferred tax assets at the period-end stood at RMB325,220,700.02, up 35.32% from the year-beginning, mainly
because the anticipated profits on the pre-sale revenues of real estate subsidiaries increased and the relevant
deferred tax assets were recognized.
5. Short-term borrowings at the period-end stood at RMB0.00, down 100.00% from the year-beginning, mainly
because they were repaid upon maturity.
6. Accounts received in advance at the period-end stood at RMB3,350,814,047.99, up 413.64% from the
year-beginning, mainly because the advances from house buyers increased.
7. Interest payable at the period-end stood at RMB0.00, down 100.00% from the year-beginning, mainly because
bank loans were repaid with interest.
8. Non-current liabilities due within one year at the period-end stood at RMB0.00, down 100.00% from the
year-beginning, mainly because they were repaid upon maturity.
9. Long-term borrowings at the period-end stood at RMB0.00, down 100.00% from the year-beginning, mainly
because they were repaid upon maturity.
10. Operating revenues for July-September 2016 stood at RMB157,661,237.17, down 46.97% year on year,
mainly because the settled project area decreased considerably from the same period of last year.
11. Operating costs for July-September 2016 stood at RMB130,151,418.31, down 37.43% year on year, mainly
because the settled project area decreased considerably from the same period of last year.
12. The business tax and surtaxes for January-September 2016 and July-September 2016 stood at
RMB25,613,594.87 and RMB1,868,632.47 respectively, down 69.76% and 95.07% from the same period of last
year, mainly because the decrease in both the settled project incomes and the average gross profit margin on all
the settled projects in different regions resulted in the decrease in the land VAT and other relevant taxes and fares.
13. The selling expenses for January-September 2016 and July-September 2016 stood at RMB27,517,133.33 and
RMB10,977,373.74 respectively, up 35.98% and 44.85% from the same period of last year, mainly because the
advertising, sales service and agency fees increased to enhance marketing.
14. The financial expenses for January-September 2016 and July-September 2016 stood at RMB-14,076,786.73
and RMB-7,038,347.79 respectively, with the gain (stated as a negative expense item) up 138.41% and 491.37%
from the same period of last year, mainly because the interest income increased.
15. Asset impairment loss for January-September 2016 stood at RMB3,810,897.96, up 987.28% from the same
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Shenzhen Properties & Resources Development (Group) Ltd. Abstract of Third Quarter Report 2016
period of last year, mainly because a falling price provision was made for the SZPRDHupan Yujing Project
Phase II.
16. Return on investment for January-September 2016 stood at RMB1,925,310.63, down 73.82% year on year,
mainly because the same period of last year saw gain from disposal of available-for-sale financial assets; and
return on investment for July-September 2016 stood at RMB766,734.31, up 30.52% year on year, mainly because
the profits from joint ventures increased.
17. The share of profit of associates and joint ventures for January-September 2016 and July-September 2016
stood at RMB1,925,310.63 and RMB766,734.31 respectively, up 53.55% and 30.52% from the same period of
last year, mainly because the profits from joint ventures increased.
18. The net non-operating revenue/expense for January-September 2016 stood at RMB1,069,222.04, up 420.83%
from the same period of last year, mainly because the confiscated deposits, the insurance indemnities for property
management accidents and so on increased.
19. The corporate income tax for January-September 2016 and July-September 2016 stood at RMB1,443,177.42
and RMB-1,168,803.07 respectively, down 91.51% and 120.77% from the same period of last year, mainly
because the profits achieved decreased.
20. The operating profits, total profits and net profits (attributable to the Company) for July-September 2016 stood
at RMB-3,407,428.17, RMB-3,122,584.03 and RMB-1,953,780.96 respectively, down 116.45%, 114.93% and
112.78% from the same period of last year; and the operating profits, total profits and net profits (attributable to
the Company) for January-September 2016 stood at RMB-6,828,530.21, RMB-5,759,308.17 and
RMB-7,202,485.59 respectively, down 110.71%, 109.08% and 115.50% from the same period of last year, mainly
because the settled project area decreased and the average gross profit margin on all the settled projects in
different regions decreased significantly.
21. The other comprehensive income net of tax for January-September 2016 stood at RMB621,139.47, up
112.72% from the same period of last year, mainly because the translation difference of foreign-currency financial
statements increased and the same period of last year saw the disposal and reclassification into profit/loss of
available-for-sale financial assets; and the other comprehensive income net of tax for July-September 2016 stood
at RMB-379,677.29, up 80.36% from the same period of last year, mainly because the translation difference of
foreign-currency financial statements increased.
22. Net cash flows from operating activities for January-September 2016 stood at RMB2,101,061,539.92, up
5410.72% year on year, mainly because the cash inflows from sale of houses increased.
23. Net cash flows from investing activities for January-September 2016 stood at RMB-3,922,521.62, with the net
outflows down 51.10% year on year, mainly because the same period of last year saw a renewal of taxies by the
relevant subsidiary.
24. Net cash flows from financing activities for January-September 2016 stood at RMB-327,004,119.63, with the
net outflows up 297.02% year on year, mainly because the loans secured decreased and those repaid increased.
25. The net increase in cash and cash equivalents for January-September 2016 and the balance of cash and cash
equivalents at the period-end stood at RMB1,771,498,466.54 and RMB2,704,836,282.31 respectively, up
1481.09% and 297.36% from the same period of last year, mainly because the cash inflows from sale of houses
increased.
II Progress on significant events, as well as the influence and solutions
□ Applicable √ Not applicable
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Shenzhen Properties & Resources Development (Group) Ltd. Abstract of Third Quarter Report 2016
III Commitments of the Company, its shareholders, actual controller, acquirer, directors,
supervisors, senior management or other related parties fulfilled in the Reporting Period or
ongoing at the period-end
□ Applicable √ Not applicable
No such cases in the Reporting Period.
IV Performance forecast for Y2016
Warning of possible loss or considerable YoY change in the accumulative net profit made during the year-beginning to the end of the
next reporting period, as well as the reasons
√ Applicable □ Not applicable
Forecast: Considerable increase at the same direction
Type of the forecast data: exact data
2016 2015 +/-
Forecast accumulative net
30,200 15,682 Up 92.58%
profit (RMB'0,000)
Basic earnings per share
0.5067 0.2631 Up 92.58%
(RMB/share)
The business performance is expected to record a significant change because the Qianhai Gangwan
Garden project developed by the Company would meet the conditions for settlement by the end of
this year and the area of all projects available for settlement for this year is thus expected to increase
Notes to the forecast considerably from the same period of last year. The forecasts above are only preliminary estimates
provided according to the current sales of the Company’s real estate projects. Investors are kindly
reminded to note that the actual earnings of the Company for Y2016 shall be subject to the data to
be given in the 2016 Annual Report of the Company.
V Securities investment
□ Applicable √ Not applicable
No such cases in the Reporting Period.
VI Investment in derivative financial instruments
□ Applicable √ Not applicable
No such cases in the Reporting Period.
VII Visits paid to the Company for purposes of research, communication, interview, etc.
during the Reporting Period
√ Applicable □ Not applicable
Date of visit Way of visit Type of visitor About
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Shenzhen Properties & Resources Development (Group) Ltd. Abstract of Third Quarter Report 2016
2016-07-15 By phone Individual Semi-Annual Report
2016-08-11 By phone Individual Progress on the Jinling Jiari project
2016-09-15 By phone Individual Income from the Qianhai project
VIII Illegal provision of guarantees for external parties
□ Applicable √ Not applicable
No such cases in the Reporting Period.
IX Occupation of the Company’s funds for non-operating purposes by the controlling
shareholder and its related parties
□ Applicable √ Not applicable
No such cases in the Reporting Period.
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