Shenzhen Properties & Resources Development (Group) Ltd. Third Quarter Report 2016
SHENZHEN PROPERTIES & RESOURCES
DEVELOPMENT (GROUP) LTD.
THIRD QUARTER REPORT 2016
2016-22
October 2016
1
Shenzhen Properties & Resources Development (Group) Ltd. 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.
2
Shenzhen Properties & Resources Development (Group) Ltd. 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
3
Shenzhen Properties & Resources Development (Group) Ltd. 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
4
Shenzhen Properties & Resources Development (Group) Ltd. 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
5
Shenzhen Properties & Resources Development (Group) Ltd. 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
6
Shenzhen Properties & Resources Development (Group) Ltd. 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
7
Shenzhen Properties & Resources Development (Group) Ltd. 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
8
Shenzhen Properties & Resources Development (Group) Ltd. 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
9
Shenzhen Properties & Resources Development (Group) Ltd. 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.
10
Shenzhen Properties & Resources Development (Group) Ltd. Third Quarter Report 2016
Section IV Financial Statements
I Financial statements
1. Consolidated balance sheet
Prepared by Shenzhen Properties & Resources Development (Group) Ltd.
30 September 2016
Unit: RMB
Item Closing balance Opening balance
Current assets:
Monetary funds 2,717,238,442.31 945,739,975.77
Settlement reserve
Interbank lendings
Financial assets at fair value through
profit/loss
Derivative financial assets
Notes receivable
Accounts receivable 44,763,793.07 38,772,146.41
Accounts paid in advance 216,593,583.78 28,415,733.43
Premiums receivable
Reinsurance premiums receivable
Receivable reinsurance contract reserve
Interest receivable
Dividends receivable
Other accounts receivable 13,961,229.49 11,619,503.47
Financial assets purchased under
agreements to resell
Inventories 2,878,336,618.82 2,466,342,278.85
Assets held for sale
Non-current assets due within one year
Other current assets 174,382,120.00
Total current assets 5,870,893,667.47 3,665,271,757.93
Non-current assets:
Loans and advances to customers
11
Shenzhen Properties & Resources Development (Group) Ltd. Third Quarter Report 2016
Available-for-sale financial assets 18,068,421.28 14,500,000.00
Held-to-maturity investments
Long-term accounts receivable
Long-term equity investments 36,451,488.04 34,526,177.41
Investment property 225,264,653.11 237,260,788.82
Fixed assets 77,657,150.04 85,929,516.37
Construction in progress
Engineering materials
Disposal of fixed assets
Productive living assets
Oil-gas assets
Intangible assets 87,275,706.71 92,640,083.99
R&D expenses
Goodwill
Long-term deferred expenses 1,628,473.85 2,024,722.07
Deferred tax assets 325,220,700.02 240,335,370.51
Other non-current assets 7,275,069.00 7,275,069.00
Total non-current assets 778,841,662.05 714,491,728.17
Total assets 6,649,735,329.52 4,379,763,486.10
Current liabilities:
Short-term borrowings 8,000,000.00
Borrowings from the Central Bank
Money deposits accepted and inter-bank
deposits
Interbank borrowings
Financial liabilities at fair value through
profit/loss
Derivative financial liabilities
Notes payable
Accounts payable 183,259,011.22 191,524,938.54
Accounts received in advance 3,350,814,047.99 652,369,778.20
Financial assets sold for repurchase
Fees and commissions payable
Payroll payable 57,721,151.90 63,791,816.49
Taxes and fares payable 739,342,633.68 833,797,372.43
12
Shenzhen Properties & Resources Development (Group) Ltd. Third Quarter Report 2016
Interest payable 479,413.09
Dividends payable
Other accounts payable 136,742,265.49 128,243,079.68
Reinsurance premiums payable
Insurance contract reserve
Payables for acting trading of securities
Payables for acting underwriting of
securities
Liabilities held for sale
Non-current liabilities due within one
121,243,352.00
year
Other current liabilities
Total current liabilities 4,467,879,110.28 1,999,449,750.43
Non-current liabilities:
Long-term borrowings 144,840,006.83
Bonds payable
Of which: Preference shares
Perpetual bonds
Long-term accounts payable
Long-term payroll payable
Special payables
Provisions 834,999.50 834,999.50
Deferred income 17,052,714.82 19,072,625.05
Deferred tax liabilities 16,761.23 23,985.24
Other non-current liabilities 117,442,563.50 114,773,265.38
Total non-current liabilities 135,347,039.05 279,544,882.00
Total liabilities 4,603,226,149.33 2,278,994,632.43
Owners’ equity:
Share capital 595,979,092.00 595,979,092.00
Other equity instruments
Of which: Preference shares
Perpetual bonds
Capital reserve 119,951,533.93 119,951,533.93
Less: Treasury shares
Other comprehensive income -3,425,463.99 -4,046,603.46
13
Shenzhen Properties & Resources Development (Group) Ltd. Third Quarter Report 2016
Special reserve
Surplus reserve 154,664,631.59 154,664,631.59
Provisions for general risks
Retained earnings 1,178,477,299.60 1,233,358,112.55
Equity attributable to owners of the
2,045,647,093.13 2,099,906,766.61
Company
Minority interests 862,087.06 862,087.06
Total owners’ equity 2,046,509,180.19 2,100,768,853.67
Total liabilities and owners’ equity 6,649,735,329.52 4,379,763,486.10
Legal representative: Chen Yugang Accounting head for this Report: Wang Hangjun
Head of the accounting organ: Shen Xueying
2. Balance sheet of the Company
Unit: RMB
Item Closing balance Opening balance
Current assets:
Monetary funds 1,311,890,581.13 296,196,656.86
Financial assets at fair value through
profit/loss
Derivative financial assets
Notes receivable
Accounts receivable 1,668,477.14 979,569.49
Accounts paid in advance 130,153,573.00
Interest receivable
Dividends receivable
Other accounts receivable 1,639,392,533.29 1,766,392,354.21
Inventories 829,056,522.31 530,588,344.24
Assets held for sale
Non-current assets due within one year
Other current assets 174,382,120.00
Total current assets 3,912,161,686.87 2,768,539,044.80
Non-current assets:
Available-for-sale financial assets 3,798,921.28 230,500.00
Held-to-maturity investments
Long-term accounts receivable
14
Shenzhen Properties & Resources Development (Group) Ltd. Third Quarter Report 2016
Long-term equity investments 283,008,750.02 281,083,438.39
Investment property 149,130,495.98 157,390,561.34
Fixed assets 8,989,436.80 9,828,388.19
Construction in progress
Engineering materials
Disposal of fixed assets
Productive living assets
Oil-gas assets
Intangible assets
R&D expenses
Goodwill
Long-term deferred expenses 1,167,589.20 1,297,321.41
Deferred tax assets 111,483,006.85 29,561,006.63
Other non-current assets
Total non-current assets 557,578,200.13 479,391,215.96
Total assets 4,469,739,887.00 3,247,930,260.76
Current liabilities:
Short-term borrowings
Financial liabilities at fair value through
profit/loss
Derivative financial liabilities
Notes payable
Accounts payable 25,412,599.13 25,436,021.13
Accounts received in advance 2,222,135,946.00 311,717,646.30
Payroll payable 10,331,021.00 11,467,533.06
Taxes and fares payable 46,206,471.60 62,939,128.44
Interest payable 858,385.21
Dividends payable
Other accounts payable 941,178,048.39 1,163,240,004.88
Liabilities held for sale
Non-current liabilities due within one year
Other current liabilities
Total current liabilities 3,245,264,086.12 1,575,658,719.02
Non-current liabilities:
Long-term borrowings 404,840,006.83
15
Shenzhen Properties & Resources Development (Group) Ltd. Third Quarter Report 2016
Bonds payable
Of which: Preference shares
Perpetual bonds
Long-term payables
Long-term payroll payable
Special payables
Provisions 834,999.50 834,999.50
Deferred income
Deferred tax liabilities
Other non-current liabilities
Total non-current liabilities 834,999.50 405,675,006.33
Total liabilities 3,246,099,085.62 1,981,333,725.35
Owners’ equity:
Share capital 595,979,092.00 595,979,092.00
Other equity instruments
Of which: Preference shares
Perpetual bonds
Capital reserve 94,057,859.68 94,057,859.68
Less: Treasury shares
Other comprehensive income
Special reserve
Surplus reserve 154,007,821.15 154,007,821.15
Retained earnings 379,596,028.55 422,551,762.58
Total owners’ equity 1,223,640,801.38 1,266,596,535.41
Total liabilities and owners’ equity 4,469,739,887.00 3,247,930,260.76
3. Consolidated income statement for the Reporting Period
Unit: RMB
Item July-September 2016 July-September 2015
1. Operating revenues 157,661,237.17 297,288,997.73
Including: Sales income 157,661,237.17 297,288,997.73
Interest income
Premium income
Fee and commission income
16
Shenzhen Properties & Resources Development (Group) Ltd. Third Quarter Report 2016
2. Operating costs 161,835,399.65 277,160,232.23
Including: Cost of sales 130,151,418.31 208,025,684.89
Interest expenses
Fee and commission expenses
Surrenders
Net claims paid
Net amount provided as
insurance contract reserve
Expenditure on policy dividends
Reinsurance premium
Business tax and surtaxes 1,868,632.47 37,907,220.01
Selling expenses 10,977,373.74 7,578,180.79
Administrative expenses 25,876,322.92 24,846,620.28
Finance costs -7,038,347.79 -1,190,173.21
Asset impairment loss -7,300.53
Add: Profit on fair value changes (“-”
means loss)
Return on investment (“-” means
766,734.31 587,455.97
loss)
Including: Share of profit/loss of
766,734.31 587,455.97
associates and joint ventures
Foreign exchange profit (“-”
means loss)
3. Operating profit (“-” means loss) -3,407,428.17 20,716,221.47
Add: Non-operating revenue 566,686.18 252,265.29
Including: Profit on disposal of
non-current assets
Less: Non-operating expense 281,842.04 48,735.30
Including: Loss on disposal of
176,586.11 1,558.00
non-current assets
4. Total profit (“-” means loss) -3,122,584.03 20,919,751.46
Less: Corporate income tax -1,168,803.07 5,626,782.83
5. Net profit (“-” means loss) -1,953,780.96 15,292,968.63
Net profit attributable to owners of
-1,953,780.96 15,292,968.63
the Company
Minority interests’ income
6. Other comprehensive income net of
-379,677.29 -1,932,969.54
tax
17
Shenzhen Properties & Resources Development (Group) Ltd. Third Quarter Report 2016
Other comprehensive income net
of tax attributable to owners of the -379,677.29 -1,932,969.54
Company
6.1 Other comprehensive
income that will not be reclassified into
profit/loss
6.1.1 Changes in net liabilities
or assets with a defined benefit plan
upon re-measurement
6.1.2 Share of other
comprehensive income of investees that
cannot be reclassified into profit/loss
under the equity method
6.2 Other comprehensive
income to be subsequently reclassified -379,677.29 -1,932,969.54
into profit/loss
6.2.1 Share of other
comprehensive income of investees that
will be reclassified into profit/loss
under the equity method
6.2.2 Profit/loss on fair value
changes of available-for-sale financial
assets
6.2.3 Profit/loss on
reclassifying held-to-maturity
investments into available-for-sale
financial assets
6.2.4 Effective profit/loss on
cash flow hedges
6.2.5 Currency translation
-379,677.29 -1,932,969.54
differences
6.2.6 Other
Other comprehensive income net
of tax attributable to minority interests
7. Total comprehensive income -2,333,458.25 13,359,999.09
Attributable to owners of the
-2,333,458.25 13,359,999.09
Company
Attributable to minority interests
8. Earnings per share
8.1 Basic earnings per share -0.0033 0.0256
8.2 Diluted earnings per share -0.0033 0.0256
Where business mergers under the same control occurred in the Reporting Period, the net profit achieved by the merged parties
18
Shenzhen Properties & Resources Development (Group) Ltd. Third Quarter Report 2016
before the business mergers was RMB0.00, with the corresponding amount for the last period being RMB0.00.
Legal representative: Chen Yugang Accounting head for this Report: Wang Hangjun
Head of the accounting organ: Shen Xueying
4. Income statement of the Company for the Reporting Period
Unit: RMB
Item July-September 2016 July-September 2015
1. Operating revenues 16,318,524.86 15,351,042.05
Less: Operating costs 4,066,969.06 3,693,681.50
Business tax and surtaxes 964,178.65 1,728,915.06
Selling expenses 6,023,179.46 243,600.00
Administrative expenses 10,389,433.36 10,449,066.27
Finance costs -2,781,233.44 -468,310.00
Asset impairment loss
Add: profit on fair value changes (“-”
means loss)
Return on investment (“-” means
766,734.31 587,455.97
loss)
Including: Share of profit/loss of
766,734.31 587,455.97
associates and joint ventures
2. Operating profit (“-” means loss) -1,577,267.92 291,545.19
Add: Non-operating revenue -110,802.31 116,384.20
Including: Profit on disposal of
non-current assets
Less: Non-operating expense
Including: Loss on disposal of
non-current assets
3. Total profit (“-” means loss) -1,688,070.23 407,929.39
Less: Corporate income tax -1,098,164.09 132,570.55
4. Net profit (“-” means loss) -589,906.14 275,358.84
5. Other comprehensive income net of
tax
5.1 Other comprehensive income that
will not be reclassified into profit and
loss
5.1.1 Changes in net liabilities or
assets with a defined benefit plan upon
re-measurement
5.1.2 Share of other
19
Shenzhen Properties & Resources Development (Group) Ltd. Third Quarter Report 2016
comprehensive income of investees that
cannot be reclassified into profit/loss
under the equity method
5.2 Other comprehensive income to
be subsequently reclassified into
profit/loss
5.2.1 Share of other
comprehensive income of investees that
will be reclassified into profit/loss
under the equity method
5.2.2 Profit/loss on fair value
changes of available-for-sale financial
assets
5.2.3 Profit/loss on reclassifying
held-to-maturity investments into
available-for-sale financial assets
5.2.4 Effective profit/loss on cash
flow hedges
5.2.5 Currency translation
differences
5.2.6 Other
6. Total comprehensive income -589,906.14 275,358.84
7. Earnings per share
7.1 Basic earnings per share -0.0010 0.0005
7.2 Diluted earnings per share -0.0010 0.0005
5. Consolidated income statement for the period from the year-beginning to the end of the Reporting
Period
Unit: RMB
Item January-September 2016 January-September 2015
1. Operating revenues 529,718,717.13 636,050,308.12
Including: Sales income 529,718,717.13 636,050,308.12
Interest income
Premium income
Fee and commission income
2. Operating costs 538,472,557.97 579,627,409.40
Including: Cost of sales 425,159,240.17 407,079,845.48
Interest expenses
Fee and commission expenses
20
Shenzhen Properties & Resources Development (Group) Ltd. Third Quarter Report 2016
Surrenders
Net claims paid
Net amount provided as
insurance contract reserve
Expenditure on policy dividends
Reinsurance premium
Business tax and surtaxes 25,613,594.87 84,688,366.10
Selling expenses 27,517,133.33 20,236,447.48
Administrative expenses 70,448,478.37 73,176,801.98
Finance costs -14,076,786.73 -5,904,548.71
Asset impairment loss 3,810,897.96 350,497.07
Add: Profit on fair value changes (“-”
means loss)
Return on investment (“-” means
1,925,310.63 7,354,998.23
loss)
Including: Share of profit/loss of
1,925,310.63 1,253,865.14
associates and joint ventures
Foreign exchange profit (“-”
means loss)
3. Operating profit (“-” means loss) -6,828,530.21 63,777,896.95
Add: Non-operating revenue 1,649,786.58 813,344.67
Including: Profit on disposal of
non-current assets
Less: Non-operating expense 580,564.54 1,146,613.45
Including: Loss on disposal of
182,886.11 428,479.60
non-current assets
4. Total profit (“-” means loss) -5,759,308.17 63,444,628.17
Less: Corporate income tax 1,443,177.42 16,988,827.80
5. Net profit (“-” means loss) -7,202,485.59 46,455,800.37
Net profit attributable to owners of
-7,202,485.59 46,455,800.37
the Company
Minority interests’ income
6. Other comprehensive income net of
621,139.47 -4,883,870.70
tax
Other comprehensive income net
of tax attributable to owners of the 621,139.47 -4,883,870.70
Company
6.1 Other comprehensive
income that will not be reclassified into
21
Shenzhen Properties & Resources Development (Group) Ltd. Third Quarter Report 2016
profit/loss
6.1.1 Changes in net liabilities
or assets with a defined benefit plan
upon re-measurement
6.1.2 Share of other
comprehensive income of investees that
cannot be reclassified into profit/loss
under the equity method
6.2 Other comprehensive
income to be subsequently reclassified 621,139.47 -4,883,870.70
into profit/loss
6.2.1 Share of other
comprehensive income of investees that
will be reclassified into profit/loss
under the equity method
6.2.2 Profit/loss on fair value
changes of available-for-sale financial -2,933,175.45
assets
6.2.3 Profit/loss on
reclassifying held-to-maturity
investments into available-for-sale
financial assets
6.2.4 Effective profit/loss on
cash flow hedges
6.2.5 Currency translation
621,139.47 -1,950,695.25
differences
6.2.6 Other
Other comprehensive income net
of tax attributable to minority interests
7. Total comprehensive income -6,581,346.12 41,571,929.67
Attributable to owners of the
-6,581,346.12 41,571,929.67
Company
Attributable to minority interests
8. Earnings per share
8.1 Basic earnings per share -0.0121 0.0779
8.2 Diluted earnings per share -0.0121 0.0779
Where business mergers under the same control occurred in the Reporting Period, the net profit achieved by the merged parties
before the business mergers was RMB0.00, with the corresponding amount for the last period being RMB0.00.
22
Shenzhen Properties & Resources Development (Group) Ltd. Third Quarter Report 2016
6. Income statement of the Company for the period from the year-beginning to the end of the Reporting
Period
Unit: RMB
Item January-September 2016 January-September 2015
1. Operating revenues 48,475,539.74 45,203,996.02
Less: Operating costs 11,661,164.07 11,908,834.16
Business tax and surtaxes 3,863,411.73 5,879,016.54
Selling expenses 12,159,722.48 243,600.00
Administrative expenses 25,269,669.06 30,265,006.30
Finance costs -6,912,362.98 -2,774,881.44
Asset impairment loss -1,191,328.44 -616,823.91
Add: profit on fair value changes (“-”
means loss)
Return on investment (“-” means
1,925,310.63 7,188,303.69
loss)
Including: Share of profit/loss of
1,925,310.63 1,253,865.14
associates and joint ventures
2. Operating profit (“-” means loss) 5,550,574.45 7,487,548.06
Add: Non-operating revenue 326,967.58 132,198.65
Including: Profit on disposal of
non-current assets
Less: Non-operating expense 19,444.98 466,563.12
Including: Loss on disposal of
82,007.63
non-current assets
3. Total profit (“-” means loss) 5,858,097.05 7,153,183.59
Less: Corporate income tax 1,135,503.72 1,506,478.76
4. Net profit (“-” means loss) 4,722,593.33 5,646,704.83
5. Other comprehensive income net of
-2,933,175.45
tax
5.1 Other comprehensive income that
will not be reclassified into profit and
loss
5.1.1 Changes in net liabilities or
assets with a defined benefit plan upon
re-measurement
5.1.2 Share of other
comprehensive income of investees that
cannot be reclassified into profit/loss
under the equity method
23
Shenzhen Properties & Resources Development (Group) Ltd. Third Quarter Report 2016
5.2 Other comprehensive income to
be subsequently reclassified into -2,933,175.45
profit/loss
5.2.1 Share of other
comprehensive income of investees that
will be reclassified into profit/loss
under the equity method
5.2.2 Profit/loss on fair value
changes of available-for-sale financial -2,933,175.45
assets
5.2.3 Profit/loss on reclassifying
held-to-maturity investments into
available-for-sale financial assets
5.2.4 Effective profit/loss on cash
flow hedges
5.2.5 Currency translation
differences
5.2.6 Other
6. Total comprehensive income 4,722,593.33 2,713,529.38
7. Earnings per share
7.1 Basic earnings per share 0.0079 0.0095
7.2 Diluted earnings per share 0.0079 0.0095
7. Consolidated cash flow statement for the period from the year-beginning to the end of the Reporting
Period
Unit: RMB
Item January-September 2016 January-September 2015
1. Cash flows from operating activities:
Cash received from sale of
3,273,473,246.17 924,011,912.63
commodities and rendering of service
Net increase in money deposits from
customers and interbank placements
Net increase in loans from the
Central Bank
Net increase in funds borrowed from
other financial institutions
Cash received from premium of
original insurance contracts
Net cash received from reinsurance
business
24
Shenzhen Properties & Resources Development (Group) Ltd. Third Quarter Report 2016
Net increase in deposits of policy
holders and investment fund
Net increase in disposal of financial
assets at fair value through profit/loss
Interest, fees and commissions
received
Net increase in interbank borrowings
Net increase in funds in repurchase
business
Tax refunds received
Cash received from other operating
27,283,040.99 14,557,600.81
activities
Subtotal of cash inflows from operating
3,300,756,287.16 938,569,513.44
activities
Cash paid for goods and services 482,876,335.33 442,715,869.91
Net increase in loans and advances to
customers
Net increase in funds deposited in the
Central Bank and interbank placements
Cash paid for claims of original
insurance contracts
Interest, fees and commissions paid
Cash paid as policy dividends
Cash paid to and for employees 243,851,267.96 231,422,695.09
Taxes and fares paid 415,532,706.93 244,719,087.74
Cash paid for other operating
57,434,437.02 59,274,516.20
activities
Subtotal of cash outflows from
1,199,694,747.24 978,132,168.94
operating activities
Net cash flows from operating activities 2,101,061,539.92 -39,562,655.50
2. Cash flows from investing activities:
Cash received from retraction of
6,511,297.75
investments
Cash received as return on
580,374.89
investments
Net cash received from disposal of
fixed assets, intangible assets and other 142,265.20 662,962.00
long-term assets
Net cash received from disposal of
subsidiaries or other business units
Cash received from other investing
25
Shenzhen Properties & Resources Development (Group) Ltd. Third Quarter Report 2016
activities
Subtotal of cash inflows from investing
142,265.20 7,754,634.64
activities
Cash paid to acquire fixed assets,
intangible assets and other long-term 4,064,786.82 15,775,725.04
assets
Cash paid for investment
Net increase in pledged loans
Net cash paid to acquire subsidiaries
and other business units
Cash paid for other investing
activities
Subtotal of cash outflows from
4,064,786.82 15,775,725.04
investing activities
Net cash flows from investing activities -3,922,521.62 -8,021,090.40
3. Cash flows from financing activities:
Cash received from capital
contributions
Including: Cash received from
minority shareholder investments by
subsidiaries
Cash received as borrowings 15,441,282.23 163,353,000.00
Cash received from issuance of
bonds
Cash received from other financing
activities
Subtotal of cash inflows from financing
15,441,282.23 163,353,000.00
activities
Repayment of borrowings 289,524,641.06 105,000,000.00
Cash paid for interest expenses and
52,824,760.80 140,613,914.10
distribution of dividends or profit
Including: dividends or profit paid
by subsidiaries to minority interests
Cash paid for other financing
96,000.00 104,500.00
activities
Sub-total of cash outflows from
342,445,401.86 245,718,414.10
financing activities
Net cash flows from financing activities -327,004,119.63 -82,365,414.10
4. Effect of foreign exchange rate
1,363,567.87 1,680,592.72
changes on cash and cash equivalents
5. Net increase in cash and cash
1,771,498,466.54 -128,268,567.28
equivalents
26
Shenzhen Properties & Resources Development (Group) Ltd. Third Quarter Report 2016
Add: Opening balance of cash and
933,337,815.77 808,963,376.68
cash equivalents
6. Closing balance of cash and cash
2,704,836,282.31 680,694,809.40
equivalents
8. Cash flow statement of the Company for the period from the year-beginning to the end of the Reporting
Period
Unit: RMB
Item January-September 2016 January-September 2015
1. Cash flows from operating activities:
Cash received from sale of
1,957,668,910.52 44,852,046.57
commodities and rendering of service
Tax refunds received
Cash received from other operating
438,518,162.35 378,010,218.07
activities
Subtotal of cash inflows from operating
2,396,187,072.87 422,862,264.64
activities
Cash paid for goods and services 113,912,344.03 75,997,047.38
Cash paid to and for employees 16,523,182.29 14,484,460.92
Taxes and fares paid 237,602,938.86 56,918,825.92
Cash paid for other operating
549,848,146.99 360,182,216.54
activities
Subtotal of cash outflows from
917,886,612.17 507,582,550.76
operating activities
Net cash flows from operating activities 1,478,300,460.70 -84,720,286.12
2. Cash flows from investing activities:
Cash received from retraction of
6,511,297.75
investments
Cash received as return on
580,374.89
investments
Net cash received from disposal of
fixed assets, intangible assets and other 4,980.00
long-term assets
Net cash received from disposal of
subsidiaries or other business units
Cash received from other investing
activities
Subtotal of cash inflows from investing
7,096,652.64
activities
Cash paid to acquire fixed assets, 71,716.00 54,770.00
27
Shenzhen Properties & Resources Development (Group) Ltd. Third Quarter Report 2016
intangible assets and other long-term
assets
Cash paid for investment 1.00
Net cash paid to acquire subsidiaries
and other business units
Cash paid for other investing
activities
Subtotal of cash outflows from
71,717.00 54,770.00
investing activities
Net cash flows from investing activities -71,717.00 7,041,882.64
3. Cash flows from financing activities:
Cash received from capital
contributions
Cash received as borrowings 15,441,282.23 75,353,000.00
Cash received from issuance of
bonds
Cash received from other financing
activities
Subtotal of cash inflows from financing
15,441,282.23 75,353,000.00
activities
Repayment of borrowings 422,491,189.06
Cash paid for interest expenses and
55,449,115.67 145,116,098.15
distribution of dividends or profit
Cash paid for other financing
activities
Sub-total of cash outflows from
477,940,304.73 145,116,098.15
financing activities
Net cash flows from financing activities -462,499,022.50 -69,763,098.15
4. Effect of foreign exchange rate
-35,796.93 -217,671.81
changes on cash and cash equivalents
5. Net increase in cash and cash
1,015,693,924.27 -147,659,173.44
equivalents
Add: Opening balance of cash and
296,196,656.86 338,036,109.52
cash equivalents
6. Closing balance of cash and cash
1,311,890,581.13 190,376,936.08
equivalents
II Auditor’s report
Is this Report audited?
□ Yes √ No
28
Shenzhen Properties & Resources Development (Group) Ltd. Third Quarter Report 2016
This Report is unaudited.
29
