ShenZhen Properties & Resources Development (Group) Ltd. Third Quarter Report 2019
SHENZHEN PROPERTIES & RESOURCES
DEVELOPMENT (GROUP) LTD.
THIRD QUARTER REPORT 2019
(Announcement No. 2019-40)
October 2019
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ShenZhen Properties & Resources Development (Group) Ltd. Third Quarter Report 2019
Part I Important Notes
The Board of Directors (or the “Board”), the Supervisory Committee as well as the directors,
supervisors and senior management of ShenZhen Properties & Resources Development
(Group) Ltd. (together with its consolidated subsidiaries, the “Company”, except where the
context otherwise requires) hereby guarantee the factuality, accuracy and completeness of the
contents of this Report and its summary, and shall be jointly and severally liable for any
misrepresentations, misleading statements or material omissions therein.
All the Company’s directors have attended the Board meeting for the review of this Report
and its summary.
Liu Shengxiang, the Company’s legal representative, Cai Lili, the Company’s head of
financial affairs, and Liu Qiang, head of the Company’s financial department (equivalent to
financial manager) hereby guarantee that the financial statements carried in this Report are
factual, accurate and complete.
This Report and its summary have been prepared in both Chinese and English. Should there
be any discrepancies or misunderstandings between the two versions, the Chinese versions
shall prevail.
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ShenZhen Properties & Resources Development (Group) Ltd. Third Quarter Report 2019
Part II Key Corporate Information
I Key Consolidated Financial Information
Indicate by tick mark whether there is any retrospectively restated datum in the table below.
□ Yes √ No
30 September 2019 31 December 2018 Change (%)
Total assets (RMB) 10,483,774,596.84 5,820,202,137.54 80.13%
Equity attributable to the listed
3,261,058,125.05 3,337,949,324.64 -2.30%
company’s shareholders (RMB)
Q3 2019 YoY change (%) Q1-Q3 2019 YoY change (%)
Operating revenue (RMB) 246,562,586.92 -34.07% 1,001,952,666.88 -16.43%
Net profit attributable to the listed
-689,810.21 -101.13% 103,059,587.95 -28.52%
company’s shareholders (RMB)
Net profit attributable to the listed
company’s shareholders before -1,104,487.82 -101.78% 102,581,697.47 -28.73%
exceptional items (RMB)
Net cash generated from/used in
-- -- 534,270,254.31 968.95%
operating activities (RMB)
Basic earnings per share
-0.0012 -101.17% 0.1729 -28.52%
(RMB/share)
Diluted earnings per share
-0.0012 -101.17% 0.1729 -28.52%
(RMB/share)
Weighted average return on equity
-0.02% -2.11% 3.13% -1.79%
(%)
Exceptional gains and losses:
√ Applicable □ Not applicable
Unit: RMB
Item Q1-Q3 2019 Note
Gain or loss on disposal of non-current assets (inclusive of Scrapping disposal of
-13,030.68
impairment allowance write-offs) miscellaneous assets
Sporadic penalty and liquidated
Non-operating income and expense other than above 650,217.99
damages income
Less: Income tax effects 159,296.83
Total 477,890.48 --
Explanation of why the Company reclassifies as recurrent an exceptional gain/loss item defined or listed in the Explanatory
Announcement No. 1 on Information Disclosure for Companies Offering Their Securities to the Public—Exceptional Gain/Loss
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ShenZhen Properties & Resources Development (Group) Ltd. Third Quarter Report 2019
Items:
□ Applicable √ Not applicable
No such cases for the Reporting Period.
II Total Number of Shareholders and Holdings of Top 10 Shareholders at 30 September 2019
1. Numbers of Ordinary Shareholders and Preferred Shareholders with Resumed Voting Rights as well as
Holdings of Top 10 Shareholders
Unit: share
Number of preferred
Number of ordinary shareholders at the shareholders with resumed
41,305 0
period-end voting rights at the
period-end (if any)
Top 10 shareholders
Name of Nature of Shareholding Total shares Restricted Shares in pledge or frozen
shareholder shareholder percentage held shares held Status Shares
Shenzhen
Investment State-owned legal
63.82% 380,378,897
Holdings person
Corporation
Shenzhen
Duty-Free Domestic
Commodity non-state-owned 0.29% 1,730,300 1,730,300
Enterprises Co., legal person
Ltd.
Domestic natural
Yang Yaochu 0.24% 1,425,020
person
Domestic natural
Mai Furong 0.20% 1,181,500
person
Domestic natural
Li Jing 0.20% 1,176,740
person
Domestic natural
Su Zhifen 0.19% 1,150,000
person
Wuhan
Xingkaiyuan Domestic
Electric Power non-state-owned 0.18% 1,050,000
Engineering Co., legal person
Ltd
Chen Yutang Domestic natural 0.15% 865,400
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ShenZhen Properties & Resources Development (Group) Ltd. Third Quarter Report 2019
person
Domestic
Shantou Property
non-state-owned 0.14% 850,000
Hexin Co., Ltd.
legal person
Domestic natural
Zhang Shaoming 0.14% 811,000
person
Top 10 unrestricted shareholders
Shares by type
Name of shareholder Unrestricted shares held
Type Shares
Shenzhen Investment Holdings RMB-denominate
380,378,897 380,378,897
Corporation d ordinary stock
Domestically
Yang Yaochu 1,425,020 listed foreign 1,425,020
stock
Domestically
Mai Furong 1,181,500 listed foreign 1,181,500
stock
Domestically
Li Jing 1,176,740 listed foreign 1,176,740
stock
RMB-denominate
Su Zhifen 1,150,000 1,150,000
d ordinary stock
Wuhan Xingkaiyuan Electric Power RMB-denominate
1,050,000 1,050,000
Engineering Co., Ltd d ordinary stock
RMB-denominate
Chen Yutang 865,400 865,400
d ordinary stock
RMB-denominate
Shantou Property Hexin Co., Ltd. 850,000 850,000
d ordinary stock
RMB-denominate
Zhang Shaoming 811,000 811,000
d ordinary stock
RMB-denominate
Li Baorong 800,000 800,000
d ordinary stock
Domestically
Wang Hui 800,000 listed foreign 800,000
stock
The first largest shareholder, Shenzhen Investment Holding Corporation, is the actual
Related or acting-in-concert parties
controlling shareholder of the Company. And the Company does not know whether
among the shareholders above
there are related parties or acting-in-concert parties among the other 9 shareholders.
Top 10 ordinary shareholders involved N/A
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ShenZhen Properties & Resources Development (Group) Ltd. Third Quarter Report 2019
in securities margin trading (if any)
Indicate by tick mark whether any of the top 10 ordinary shareholders or the top 10 unrestricted ordinary shareholders of the
Company conducted any promissory repo during the Reporting Period.
□ Yes √ No
No such cases in the Reporting Period.
2. Number of Preferred Shareholders and Shareholdings of Top 10 of Them
□ Applicable √ Not applicable
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ShenZhen Properties & Resources Development (Group) Ltd. Third Quarter Report 2019
Part III Significant Events
I Changes in Key Consolidated Financial Statement Line Items and Explanation of why
√ Applicable □ Not applicable
1. Net accounts receivable stood at RMB105,664,491.50 as at 30 September 2019, rising 64.51% compared to 31
December 2018, primarily driven by the increase in property management fees receivable.
2. Net other receivables stood at RMB1,411,300,201.44 as at 30 September 2019, rising 5677.29% compared to
31 December 2018, primarily driven by the combination scope increase of Shenzhen Rongyao Real Estate
Development Co., Ltd.
3. Inventories stood at RMB4,091,290,659.03 as at 30 September 2019, rising 246.20% compared to 31 December
2018, primarily driven by the combination scope increase of Shenzhen Rongyao Real Estate Development Co.,
Ltd.
4. Other current assets stood at RMB60,518,612.48 as at 30 September 2019, rising 262.51% compared to 31
December 2018, primarily driven by the increase in prepaid VAT for property projects.
5. Net fixed assets stood at RMB49,959,816.20 as at 30 September 2019, rising 53.19% compared to 31
December 2018, primarily driven by purchase of office building by the subsidiary.
6. Other non-current assets stood at RMB29,220,732.54 as at 30 September 2019, declining 73.19% compared to
31 December 2018, primarily driven by the offset of payments for M&A of shares in Shenzhen Rongyao Real
Estate Development Co., Ltd. by advance stock payment of RMB0.1 billion.
7. Accounts payable stood at RMB270,740,042.51 as at 30 September 2019, declining 32.05% compared to 31
December 2018, primarily driven by payment for projects.
8. Other payables stood at RMB575,189,783.56 as at 30 September 2019, rising 411.27% compared to 31
December 2018, primarily driven by payment of RMB406 million for stock transfer newly added.
9. Long-term borrowings stood at RMB2,194,000,000.00 as at 30 September 2019, rising 219300.00% compared
to 31 December 2018, primarily driven by the combination scope increase of Shenzhen Rongyao Real Estate
Development Co., Ltd.
10. Other comprehensive income stood at RMB-2,943,241.63 as at 30 September 2019, rising 64.78% compared
to 31 December 2018, primarily driven by the decrease in the differences arising from translation of foreign
currency-denominated financial statements caused by changes in foreign exchange rates.
11. Taxes and surtaxes stood at RMB134,703,867.42 during Q1~Q3 2019, rising 114.01% compared to Q1~Q3
2018, primarily driven by that main property projects carried over in the Reporting Period applied to higher land
VAT rates.
12. Selling expense stood at RMB43,482,379.03 during Q1~Q3 2019, rising 193.64% compared to Q1~Q3 2018,
primarily driven by increase of charges for sales agency and services.
13. Administrative expense stood at RMB85,821,358.91 during Q1~Q3 2019, rising 26.70% compared to Q1~Q3
2018, primarily driven by increase in remuneration for employees and in office expenditure.
14. Finance costs stood at RMB99,933.139.03 during Q1~Q3 2019, rising -359.86% compared to Q1~Q3 2018 of
RMB-38,456,220.90, primarily driven by increase in interest payment.
15. Asset impairment loss (“-“ for losses) stood at RMB-2,656.062.96 during Q1~Q3 2019, declining 155.37%
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ShenZhen Properties & Resources Development (Group) Ltd. Third Quarter Report 2019
compared to Q1~Q3 2018 of RMB4,797,271.69, primarily driven by withdrawal of bad debt provision and
changes of inventory falling price reserves.
16. Investment income stood at RMB2,207,762.84 during Q1~Q3 2019, rising 57.92% compared to Q1~Q3 2018,
primarily driven by changes caused by revenues realized by joint ventures of the Company.
17. Non-operating expense stood at RMB1,806,397.12 during Q1~Q3 2019, declining 36.66% compared to
Q1~Q3 2018, primarily driven by decrease in payment for cleaning tenants as surrender compensation.
18. Income tax expense stood at RMB60,811,172.26 during Q1~Q3 2019, rising 35.32% compared to Q1~Q3
2018, primarily driven by increase in profits realized by companies except for Shenzhen Rongyao Real Estate
Development Co., Ltd.
19. Net profit (attributable to the Company as the parent) stood at RMB103,059,587.95 during Q1~Q3 2019,
declining 28.52% compared to Q1~Q3 2018, primarily driven by increase in interest expense of finance costs.
20. Net profit attributable to non-controlling interests stood at RMB-56,907,075.90 during Q1~Q3 2019 and that
for Q1~Q3 2018 was RMB0.00, primarily driven by addition of “net profit attributable to non-controlling
interests” of Shenzhen Rongyao Real Estate Development Co., Ltd.
21. Other comprehensive income, net of tax, stood at RMB-1,157,059.94 during Q1~Q3 2019, declining 37.41%
compared to Q1~Q3 2018, primarily driven by changes in differences arising from translation of foreign
currency-denominated financial statements caused by changes in foreign exchange rates.
22. Net cash generated from/used in operating activities stood at 534,270,254.31 during Q1~Q3 2019 and the net
cash generated from operating activities rose 968.95% compared to Q1~Q3 2018, primarily driven by increase in
recoup funds of housing sales accounts during Q1~Q3 2019.
23. Net cash generated from/used in investing activities during Q1~Q3 2019 stood at RMB-37,689,200.09,
declining 149.48% compared to Q1~Q3 2018, primarily driven by receipt of share transfer payments from two
motor companies during Q1 2018 and increase in payment for purchase of fixed assets during Q1~Q3 2019.
24. Net cash generated from/used in financing activities during Q1~Q3 2019 stood at RMB-359,218,136.65, rising
102.05% compared to Q1~Q3 2018, primarily driven by increase in interest paid for loans during Q1~Q3 2019.
II Progress, Influence and Solutions Associated with Significant Events
√ Applicable □ Not applicable
In order to respond to the call of Shenzhen State-owned Assets Supervision and Administration Commission,
further promote the concentration of resource of good quality to the advantage enterprises, particularly the listed
companies, and strengthen the development potential of listed companies, optimize and solidify the industrial
structure of listed companies, enlarge and strengthen the dominant industry in listed companies, the Company
intends to take over 100% of equity in Shenzhen Holding Property Management Co., Ltd. (hereinafter referred to
as “TK Property”) held by Shenzhen Investment Holdings Co., Ltd (hereinafter referred to as “SZIH”) in cash.
The acquisition was approved by the 8th Meeting of the 9th Board of Directors on 6 September 2019 and the 2nd
Extraordinary General Meeting of 2019 on 23 September 2019 with independent and professional opinions from
independent directors. The relevant disclosure is as follows:
Announcement of significant event Disclosure date Disclosure website
The acquisition of 100% of equity in No. 2018-39 Announcement on Signing
Shenzhen Holding Property 13 December 2018 the Letter of Intent for Equity Transfer
Management Co., Ltd. and the connected with Controlling Shareholders on
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ShenZhen Properties & Resources Development (Group) Ltd. Third Quarter Report 2019
transaction www.cninfo.com.cn
No. 2019-28 Announcement on
7 September 2019 Resolution of the Board of Directors on
www.cninfo.com.cn
No. 2019-30 Announcement on the
Acquisition of 100% of Equity in
Shenzhen Holding Property
7 September 2019
Management Co., Ltd. and the
Connected Transaction on
www.cninfo.com.cn
No. 2019-31 Announcement on
7 September 2019 Resolution of the Supervisory Committee
on www.cninfo.com.cn
No. 2019-33 Announcement on the
Acquisition of 100% of Equity in
Shenzhen Holding Property
21 September 2019
Management Co., Ltd. and the
Connected Transaction on
www.cninfo.com.cn
No. 2019-34 Announcement on
Resolution of the 2 nd
Extraordinary
24 September 2019
General Meeting of 2019 on
www.cninfo.com.cn
Progress of any share repurchases:
□ Applicable √ Not applicable
Progress of any reduction of the repurchased shares through centralized bidding:
□ Applicable √ Not applicable
III Commitments that the Company’s Actual Controller, Shareholders, Related Parties,
Acquirers, the Company Itself or Other Parties, Failed to Fulfill on Time during the
Reporting Period
□ Applicable √ Not applicable
No such cases in the Reporting Period.
IV Securities Investments
√ Applicable □ Not applicable
Unit: RMB
Variet Symb Name Initial Acco Begin Gain/l Accu Purch Sold Gain/l Endin Acco Capita
oss in
y of ol of of invest unting ning oss of mulati ased in the g unting l
Repor
securi securi securit ment measu carryi chang ve in the Repor ting carryi title source
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ShenZhen Properties & Resources Development (Group) Ltd. Third Quarter Report 2019
ty ty y cost remen ng es in chang Repor ting Perio ng
d
t value fair es in ting Perio value
model value fair Perio d
in the value d
Repor record
ting ed
Perio into
d equiti
es
Other
Obtai
Dome non-c
ned in
stic/o 2,991, Fair 2,991, 2,991, urren
40001 Gintia debt
versea 975.0 metho 975.0 0.00 0.00 0.00 0.00 0.00 975.0 t
6 nA restru
s 3 d 3 3 finan
cturin
stock cial
g
assets
Other Obtai
Dome
non-c ned in
stic/o Fair
42001 Gintia 573,8 629,4 1,054. 630,4 urrent debt
versea metho 0.00 0.00 0.00 0.00
6 nB 81.03 06.08 64 60.72 financ restru
s d
ial cturin
stock
assets g
3,565, 3,621, 3,622,
1,054.
Total 856.0 -- 381.1 0.00 0.00 0.00 0.00 435.7 -- --
64
6 1 5
Disclosure date of
announcement on
Board’s consent for
securities investment
Disclosure date of
announcement on
shareholders’ meeting’s
consent for securities
investment (if any)
V Wealth Management Entrustment
□ Applicable √ Not applicable
No such cases in the Reporting Period.
VI Investments in Derivative Financial Instruments
□ Applicable √ Not applicable
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ShenZhen Properties & Resources Development (Group) Ltd. Third Quarter Report 2019
No such cases in the Reporting Period.
VII Communications with the Investment Community such as Researches, Inquiries and
Interviews during the Reporting Period
√ Applicable □ Not applicable
Type of communication Index to main information
Date Way of communication
party communicated
Inquired of the disclosure of the
2 July 2019 In writing Individual
interim report of the Company
Inquired of business development of
6 July 2019 In writing Individual
the Company
Inquired of the property information of
8 July 2019 In writing Individual
golden collar project
Inquired of the semi-annual
8 July 2019 In writing Individual
performance of the Company
Inquired of business development of
9 July 2019 By phone Individual
the Company
Inquired of the market value of golden
9 July 2019 In writing Individual
collar project
Inquired of the information of golden
11 July 2019 In writing Individual
collar project
Inquired of the sales of commercial
11 July 2019 In writing Individual
housing
Inquired of the information of
13 July 2019 In writing Individual
Fuchang Phase II
Inquired of the progress of project
15 July 2019 By phone Individual
construction and financial condition
Inquired of the sales of commercial
17 July 2019 In writing Individual
housing
Inquired of the release of restriction on
19 July 2019 In writing Individual
restricted shares of the Company
Inquired of the number of the
23 August 2019 In writing Individual
shareholders of the Company
Inquired of situations of shareholders
11 September 2019 In writing Individual
of the Company
Inquired of situations of shareholders
19 September 2019 In writing Individual
of the Company
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ShenZhen Properties & Resources Development (Group) Ltd. Third Quarter Report 2019
VIII Irregularities in Provision of Guarantees
□ Applicable √ Not applicable
No such cases in the Reporting Period.
IX Occupation of the Company’s Capital by the Controlling Shareholder or Its Related
Parties for Non-Operating Purposes
□ Applicable √ Not applicable
No such cases in the Reporting Period.
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ShenZhen Properties & Resources Development (Group) Ltd. Third Quarter Report 2019
Part IV Financial Statements
I Financial Statements
1. Consolidated Balance Sheet
Prepared by ShenZhen Properties & Resources Development (Group) Ltd.
Unit: RMB
Item 30 September 2019 31 December 2018
Current assets:
Monetary capital 3,527,406,949.17 3,389,234,357.72
Settlement reserve
Interbank loans granted
Trading financial assets
Financial assets at fair value
through profit or loss
Derivative financial assets
Notes receivable
Accounts receivable 105,664,491.50 64,231,267.94
Accounts receivable financing
Prepayments 205,258,523.23 35,913,164.32
Premiums receivable
Reinsurance receivables
Receivable reinsurance contract
reserve
Other receivables 1,411,300,201.44 24,428,411.19
Including: Interest receivable 3,459,248.91 8,293,317.33
Dividends receivable
Financial assets purchased under
resale agreements
Inventories 4,091,290,659.03 1,181,762,531.67
Contractual assets
Assets classified as held for sale
Current portion of non-current
assets
Other current assets 60,518,612.48 16,694,408.12
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ShenZhen Properties & Resources Development (Group) Ltd. Third Quarter Report 2019
Total current assets 9,401,439,436.85 4,712,264,140.96
Non-current assets:
Loans and advances to customers
Investments in debt obligations
Available-for-sale financial assets 3,621,381.11
Investments in other debt
obligations
Held-to-maturity investments
Long-term receivables
Long-term equity investments 42,207,046.08 39,999,283.24
Investments in other equity
instruments
Other non-current financial assets 25,622,435.75
Investment property 383,084,486.80 400,550,689.90
Fixed assets 49,959,816.20 32,612,592.40
Construction in progress
Productive living assets
Oil and gas assets
Right-of-use assets
Intangible assets
R&D expense
Goodwill
Long-term prepaid expense 2,948,903.82 2,398,576.29
Deferred income tax assets 549,291,738.80 519,783,531.64
Other non-current assets 29,220,732.54 108,971,942.00
Total non-current assets 1,082,335,159.99 1,107,937,996.58
Total assets 10,483,774,596.84 5,820,202,137.54
Current liabilities:
Short-term borrowings
Borrowings from central bank
Interbank loans obtained
Trading financial liabilities
Financial liabilities at fair value
through profit or loss
Derivative financial liabilities
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ShenZhen Properties & Resources Development (Group) Ltd. Third Quarter Report 2019
Notes payable
Accounts payable 270,740,042.51 398,429,855.96
Advances from customers 2,526,136,108.18 265,338,215.34
Contractual liabilities
Financial assets sold under
repurchase agreements
Customer deposits and interbank
deposits
Payables for acting trading of
securities
Payables for underwriting of
securities
Payroll payable 80,809,357.13 96,069,521.54
Taxes payable 1,390,206,680.67 1,552,720,630.59
Other payables 575,189,783.56 112,502,146.69
Including: Interest payable 6,702,350.66 1,669.10
Dividends payable 29,642.40 29,642.40
Handling charges and commissions
payable
Reinsurance payables
Liabilities directly associated with
assets classified as held for sale
Current portion of non-current
liabilities
Other current liabilities
Total current liabilities 4,843,081,972.05 2,425,060,370.12
Non-current liabilities:
Insurance contract reserve
Long-term borrowings 2,194,000,000.00 1,000,000.00
Bonds payable
Including: Preferred shares
Perpetual bonds
Lease liabilities
Long-term payables
Long-term payroll payable
Provisions
Deferred income
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ShenZhen Properties & Resources Development (Group) Ltd. Third Quarter Report 2019
Deferred income tax liabilities 4,009.30 5,275.60
Other non-current liabilities 53,127,953.26 52,937,180.81
Total non-current liabilities 2,247,131,962.56 53,942,456.41
Total liabilities 7,090,213,934.61 2,479,002,826.53
Owners’ equity:
Share capital 595,979,092.00 595,979,092.00
Other equity instruments
Including: Preferred shares
Perpetual bonds
Capital reserves 118,938,132.89 118,938,132.89
Less: Treasury stock
Other comprehensive income -2,943,241.63 -1,786,181.69
Special reserves
Surplus reserves 299,569,569.96 299,569,569.96
General reserve
Retained earnings 2,249,514,571.83 2,325,248,711.48
Total equity attributable to owners of
3,261,058,125.05 3,337,949,324.64
the Company as the parent
Non-controlling interests 132,502,537.18 3,249,986.37
Total owners’ equity 3,393,560,662.23 3,341,199,311.01
Total liabilities and owners’ equity 10,483,774,596.84 5,820,202,137.54
Legal representative: Liu Shengxiang Head of financial affairs: Cai Lili
Head of the financial department: Liu Qiang
2. Balance Sheet of the Company as the Parent
Unit: RMB
Item 30 September 2019 31 December 2018
Current assets:
Monetary capital 2,617,024,373.74 2,520,788,994.16
Trading financial assets 0.00 0.00
Financial assets at fair value
through profit or loss
Derivative financial assets 0.00 0.00
Notes receivable 0.00 0.00
16
ShenZhen Properties & Resources Development (Group) Ltd. Third Quarter Report 2019
Accounts receivable 2,324,356.43 1,853,494.72
Accounts receivable financing
Prepayments 672,540.09 829,683.68
Other receivables 524,852,672.71 1,306,715,826.93
Including: Interest receivable 7,125,915.58 8,229,503.58
Dividends receivable 0.00 0.00
Inventories 609,336,624.23 105,840,115.24
Contractual assets
Assets classified as held for sale
Current portion of non-current
0.00 0.00
assets
Other current assets 0.00 0.00
Total current assets 3,754,210,567.20 3,936,028,114.73
Non-current assets:
Investments in debt obligations
Available-for-sale financial assets 0.00 3,851,881.11
Investments in other debt
obligations
Held-to-maturity investments 0.00 0.00
Long-term receivables 0.00 0.00
Long-term equity investments 749,709,719.01 239,501,956.17
Investments in other equity
instruments
Other non-current financial assets 3,852,935.75 0.00
Investment property 303,906,848.84 317,313,917.65
Fixed assets 8,549,356.25 9,121,637.65
Construction in progress 0.00 0.00
Productive living assets 0.00 0.00
Oil and gas assets 0.00 0.00
Right-of-use assets
Intangible assets 0.00 0.00
R&D expense 0.00 0.00
Goodwill 0.00 0.00
Long-term prepaid expense 648,660.36 778,392.57
Deferred income tax assets 334,948,163.11 315,888,967.26
17
ShenZhen Properties & Resources Development (Group) Ltd. Third Quarter Report 2019
Other non-current assets 1,223,259,098.54 104,132,920.00
Total non-current assets 2,624,874,781.86 990,589,672.41
Total assets 6,379,085,349.06 4,926,617,787.14
Current liabilities:
Short-term borrowings 0.00 0.00
Trading financial liabilities 0.00 0.00
Financial liabilities at fair value
through profit or loss
Derivative financial liabilities
Notes payable 0.00 0.00
Accounts payable 82,590,514.00 124,501,464.28
Advances from customers 0.00 75,895,087.75
Contractual liabilities
Payroll payable 22,761,951.82 31,224,455.28
Taxes payable 1,275,814,862.27 1,402,388,742.76
Other payables 1,947,270,339.73 224,875,980.31
Including: Interest payable 0.00 0.00
Dividends payable 29,642.40 29,642.40
Liabilities directly associated with
assets classified as held for sale
Current portion of non-current
liabilities
Other current liabilities
Total current liabilities 3,328,437,667.82 1,858,885,730.38
Non-current liabilities:
Long-term borrowings 0.00 0.00
Bonds payable 0.00 0.00
Including: Preferred shares 0.00 0.00
Perpetual bonds 0.00 0.00
Lease liabilities
Long-term payables 0.00 0.00
Long-term payroll payable
Provisions 0.00 0.00
Deferred income 0.00 0.00
Deferred income tax liabilities 0.00 0.00
18
ShenZhen Properties & Resources Development (Group) Ltd. Third Quarter Report 2019
Other non-current liabilities 0.00 0.00
Total non-current liabilities 0.00 0.00
Total liabilities 3,328,437,667.82 1,858,885,730.38
Owners’ equity:
Share capital 595,979,092.00 595,979,092.00
Other equity instruments
Including: Preferred shares
Perpetual bonds
Capital reserves 92,326,467.62 92,326,467.62
Less: Treasury stock 0.00 0.00
Other comprehensive income 0.00 0.00
Special reserves
Surplus reserves 298,912,759.52 298,912,759.52
Retained earnings 2,063,429,362.10 2,080,513,737.62
Total owners’ equity 3,050,647,681.24 3,067,732,056.76
Total liabilities and owners’ equity 6,379,085,349.06 4,926,617,787.14
3. Consolidated Income Statement for Q3
Unit: RMB
Item Q3 2019 Q3 2018
1. Revenue 246,562,586.92 373,989,694.46
Including: Operating revenue 246,562,586.92 373,989,694.46
Interest income
Premium income
Handling charge and
commission income
2. Costs and expenses 269,636,497.82 294,795,606.42
Including: Cost of sales 150,213,690.15 220,059,287.49
Interest expense
Handling charge and
commission expense
Surrenders
Net claims paid
Net amount provided as
policy reserve
19
ShenZhen Properties & Resources Development (Group) Ltd. Third Quarter Report 2019
Expenditure on policy
dividends
Reinsurance premium
expense
Taxes and surcharges 14,621,647.42 55,644,770.75
Selling expense 25,189,654.31 5,511,547.16
Administrative expense 29,864,077.40 24,418,997.27
R&D expense
Finance costs 49,747,428.54 -10,838,996.25
Including: Interest
64,259,301.86
expense
Interest
-13,806,812.45 -11,166,488.11
income
Add: Other income 640,439.36
Return on investment (“-” for
1,426,936.27 1,348,773.97
loss)
Including: Share of profit or
1,426,936.27 728,643.14
loss of joint ventures and associates
Derecognition income of
financial assets measured at amortized
cost
Foreign exchange gain (“-” for
loss)
Net gain on exposure hedges (“-”
for loss)
Gain on changes in fair value
(“-” for loss)
Credit impairment loss (“-” for
loss)
Asset impairment loss (“-” for
-78,557.10 39,920.77
loss)
Asset disposal income (“-” for
loss)
3. Operating profit (“-” for loss) -21,085,092.37 80,582,782.78
Add: Non-operating income 653,052.68 1,525,042.96
Less: Non-operating expense 100,149.20 2,540,174.16
4. Profit before tax (“-” for loss) -20,532,188.89 79,567,651.58
Less: Income tax expense 8,619,711.43 18,351,487.77
5. Net profit (“-” for net loss) -29,151,900.32 61,216,163.81
20
ShenZhen Properties & Resources Development (Group) Ltd. Third Quarter Report 2019
5.1 By operating continuity
5.1.1 Net profit from continuing
-29,151,900.32 61,216,163.81
operations (“-” for net loss)
5.1.2 Net profit from discontinued
operations (“-” for net loss)
5.2 By ownership
5.2.1 Net profit attributable to
-689,810.21 61,216,163.81
owners of the Company as the parent
5.2.2 Net profit attributable to
-28,462,090.11
non-controlling interests
6. Other comprehensive income, net of
-1,359,884.19 -2,264,052.37
tax
Attributable to owners of the
-1,359,884.19 -2,264,052.37
Company as the parent
6.1 Items that will not be
reclassified to profit or loss
6.1.1 Changes caused by
remeasurements on defined benefit
pension schemes
6.1.2 Other comprehensive
income that will not be reclassified to
profit or loss under the equity method
6.1.3 Changes in the fair value
of investments in other equity
instruments
6.1.4 Changes in the fair value
of the company’s credit risks
6.1.5 Other
6.2 Items that will be reclassified
-1,359,884.19 -2,264,052.37
to profit or loss
6.2.1 Other comprehensive
income that will be reclassified to
profit or loss under the equity method
6.2.2 Changes in the fair value
of investments in other debt obligations
6.2.3 Gain/Loss on changes in
the fair value of available-for-sale
financial assets
6.2.4 Other comprehensive
income arising from the reclassification
of financial assets
6.2.5 Gain/Loss arising from
21
ShenZhen Properties & Resources Development (Group) Ltd. Third Quarter Report 2019
the reclassification of held-to-maturity
investments to available-for-sale
financial assets
6.2.6 Allowance for credit
impairments in investments in other
debt obligations
6.2.7 Reserve for cash flow
hedges
6.2.8 Differences arising from
the translation of foreign
-1,359,884.19 -2,264,052.37
currency-denominated financial
statements
6.2.9 Other
Attributable to non-controlling
interests
7. Total comprehensive income -30,511,784.51 58,952,111.44
Attributable to owners of the
-2,049,694.40 58,952,111.44
Company as the parent
Attributable to non-controlling
-28,462,090.11
interests
8. Earnings per share
8.1 Basic earnings per share -0.0012 0.1027
8.2 Diluted earnings per share -0.0012 0.1027
Where business combinations under common control occurred in the current period, the net profit achieved by the acquirees before
the combinations was RMB0.00, with the amount for the same period of last year being RMB0.00.
Legal representative: Liu Shengxiang Head of financial affairs: Cai Lili
Head of the financial department: Liu Qiang
4. Income Statement of the Company as the Parent for Q3
Unit: RMB
Item Q3 2019 Q3 2018
1. Operating revenue 36,838,750.54 35,290,132.14
Less: Cost of sales 9,778,124.74 9,681,055.22
Taxes and surcharges 8,621,210.66 8,310,210.12
Selling expense 5,183,474.22 1,287,861.40
Administrative expense 15,168,684.33 8,738,044.03
R&D expense
22
ShenZhen Properties & Resources Development (Group) Ltd. Third Quarter Report 2019
Finance costs -10,867,569.80 -9,607,684.41
Including: Interest expense
Interest income -10,887,450.83 -9,614,088.74
Add: Other income 0.00 0.00
Return on investment (“-” for
28,854,871.29 1,294,275.43
loss)
Including: Share of profit or
1,426,936.27 728,643.14
loss of joint ventures and associates
Derecognition income of
financial assets measured at
amortized cost
Net gain on exposure hedges
(“-” for loss)
Gain on changes in fair value
0.00 0.00
(“-” for loss)
Credit impairment loss (“-” for
loss)
Asset impairment loss (“-” for
40,000.00
loss)
Asset disposal income (“-” for
0.00 0.00
loss)
2. Operating profit (“-” for loss) 37,809,697.68 18,214,921.21
Add: Non-operating income 32,112.50 54,791.03
Less: Non-operating expense 11,123.48 701,868.96
3. Profit before tax (“-” for loss) 37,830,686.70 17,567,843.28
Less: Income tax expense 8,900,600.16 4,236,800.97
4. Net profit (“-” for net loss) 28,930,086.54 13,331,042.31
4.1 Net profit from continuing
28,930,086.54 13,331,042.31
operations (“-” for net loss)
4.2 Net profit from discontinued
operations (“-” for net loss)
5. Other comprehensive income, net
0.00 0.00
of tax
5.1 Items that will not be
reclassified to profit or loss
5.1.1 Changes caused by
remeasurements on defined benefit
pension schemes
23
ShenZhen Properties & Resources Development (Group) Ltd. Third Quarter Report 2019
5.1.2 Other comprehensive
income that will not be reclassified to
profit or loss under the equity method
5.1.3 Changes in the fair value
of investments in other equity
instruments
5.1.4 Changes in the fair value
of the company’s credit risks
5.1.5 Other
5.2 Items that will be reclassified
to profit or loss
5.2.1 Other comprehensive
income that will be reclassified to
profit or loss under the equity method
5.2.2 Changes in the fair value
of investments in other debt
obligations
5.2.3 Gain/Loss on changes in
the fair value of available-for-sale
financial assets
5.2.4 Other comprehensive
income arising from the
reclassification of financial assets
5.2.5 Gain/Loss arising from the
reclassification of held-to-maturity
investments to available-for-sale
financial assets
5.2.6 Allowance for credit
impairments in investments in other
debt obligations
5.2.7 Reserve for cash flow
hedges
5.2.8 Differences arising from
the translation of foreign
currency-denominated financial
statements
5.2.9 Other
6. Total comprehensive income 28,930,086.54 13,331,042.31
7. Earnings per share
7.1 Basic earnings per share 0.0485 0.0224
7.2 Diluted earnings per share 0.0485 0.0224
24
ShenZhen Properties & Resources Development (Group) Ltd. Third Quarter Report 2019
5. Consolidated Income Statement for Q1~Q3
Unit: RMB
Item Q1~Q3 2019 Q1~Q3 2018
1. Revenue 1,001,952,666.88 1,199,003,679.43
Including: Operating revenue 1,001,952,666.88 1,199,003,679.43
Interest income
Premium income
Handling charge and
commission income
2. Operating costs and expenses 896,123,523.02 1,016,278,134.94
Including: Cost of sales 532,182,778.63 909,246,628.59
Interest expense
Handling charge and
commission expense
Surrenders
Net claims paid
Net amount provided as
policy reserve
Expenditure on policy
dividends
Reinsurance premium
expense
Taxes and surcharges 134,703,867.42 62,944,209.41
Selling expense 43,482,379.03 14,808,076.92
Administrative expense 85,821,358.91 67,735,440.92
R&D expense
Finance costs 99,933,139.03 -38,456,220.90
Including: Interest
138,229,418.43
expense
Interest
-39,636,999.51 -39,320,642.15
income
Add: Other income 945,653.26
Investment income (“-” for loss) 2,207,762.84 1,398,021.17
Including: Share of profit or
2,207,762.84 777,890.34
loss of joint ventures and associates
Derecognition income of
financial assets measured at amortized
25
ShenZhen Properties & Resources Development (Group) Ltd. Third Quarter Report 2019
cost
Foreign exchange gain (“-” for
loss)
Net gain on exposure hedges (“-”
for loss)
Gain on changes in fair value
(“-” for loss)
Credit impairment loss (“-” for
loss)
Asset impairment loss (“-” for
-2,656,062.96 4,797,271.69
loss)
Asset disposal income (“-” for
loss)
3. Operating profit (“-” for loss) 106,326,497.00 188,920,837.35
Add: Non-operating income 2,443,584.43 3,058,534.39
Less: Non-operating expense 1,806,397.12 2,851,849.01
4. Profit before tax (“-” for loss) 106,963,684.31 189,127,522.73
Less: Income tax expense 60,811,172.26 44,938,831.33
5. Net profit (“-” for net loss) 46,152,512.05 144,188,691.40
5.1 By operating continuity
5.1.1 Net profit from continuing
46,152,512.05 144,188,691.40
operations (“-” for net loss)
5.1.2 Net profit from discontinued
operations (“-” for net loss)
5.2 By ownership
5.2.1 Net profit attributable to
103,059,587.95 144,188,691.40
owners of the Company as the parent
5.2.2 Net profit attributable to
-56,907,075.90
non-controlling interests
6. Other comprehensive income, net of
-1,157,059.94 -1,848,692.29
tax
Attributable to owners of the
-1,157,059.94 -1,848,692.29
Company as the parent
6.1 Items that will not be
reclassified to profit or loss
6.1.1 Changes caused by
remeasurements on defined benefit
pension schemes
6.1.2 Other comprehensive
income that will not be reclassified to
26
ShenZhen Properties & Resources Development (Group) Ltd. Third Quarter Report 2019
profit or loss under the equity method
6.1.3 Changes in the fair value
of investments in other equity
instruments
6.1.4 Changes in the fair value
of the company’s credit risks
6.1.5 Other
6.2 Items that will be reclassified
-1,157,059.94 -1,848,692.29
to profit or loss
6.2.1 Other comprehensive
income that will be reclassified to
profit or loss under the equity method
6.2.2 Changes in the fair value
of investments in other debt obligations
6.2.3 Gain/Loss on changes in
the fair value of available-for-sale 0.00 0.00
financial assets
6.2.4 Other comprehensive
income arising from the reclassification 0.00 0.00
of financial assets
6.2.5 Gain/Loss arising from
the reclassification of held-to-maturity
0.00 0.00
investments to available-for-sale
financial assets
6.2.6 Allowance for credit
impairments in investments in other 0.00 0.00
debt obligations
6.2.7 Reserve for cash flow
hedges
6.2.8 Differences arising from
the translation of foreign
-1,157,059.94 -1,848,692.29
currency-denominated financial
statements
6.2.9 Other 0.00 0.00
Attributable to non-controlling
interests
7. Total comprehensive income 44,995,452.11 142,339,999.11
Attributable to owners of the
101,902,528.01 142,339,999.11
Company as the parent
Attributable to non-controlling
-56,907,075.90
interests
8. Earnings per share
27
ShenZhen Properties & Resources Development (Group) Ltd. Third Quarter Report 2019
8.1 Basic earnings per share 0.1729 0.2419
8.2 Diluted earnings per share 0.1729 0.2419
Where business combinations under common control occurred in the current period, the net profit achieved by the acquirees before
the combinations was RMB0.00, with the amount for the same period of last year being RMB0.00.
Legal representative: Liu Shengxiang Head of financial affairs: Cai Lili
Head of the financial department: Liu Qiang
6. Income Statement of the Company as the Parent for Q1~Q3
Unit: RMB
Item Q1~Q3 2019 Q1~Q3 2018
1. Operating revenue 378,748,801.89 68,745,923.98
Less: Cost of sales 74,483,319.07 21,473,707.25
Taxes and surcharges 115,202,375.21 10,347,227.32
Selling expense 12,115,904.81 2,200,695.62
Administrative expense 41,534,008.61 23,762,826.83
R&D expense
Finance costs -31,078,642.03 -36,100,159.33
Including: Interest expense 0.00 0.00
Interest income -31,332,593.96 -35,840,623.26
Add: Other income 0.00 0.00
Investment income (“-” for
45,735,016.53 1,343,522.63
loss)
Including: Share of profit or
2,207,762.84 777,890.34
loss of joint ventures and associates
Derecognition income of
financial assets measured at
amortized cost
Net gain on exposure hedges
(“-” for loss)
Gain on changes in fair value
0.00 0.00
(“-” for loss)
Credit impairment loss (“-” for
loss)
Asset impairment loss (“-” for
475,313.54 2,286,956.93
loss)
Asset disposal income (“-” for 0.00 0.00
28
ShenZhen Properties & Resources Development (Group) Ltd. Third Quarter Report 2019
loss)
2. Operating profit (“-” for loss) 212,702,166.29 50,692,105.85
Add: Non-operating income 352,112.50 172,307.70
Less: Non-operating expense 1,113,254.57 711,102.23
3. Profit before tax (“-” for loss) 211,941,024.22 50,153,311.32
Less: Income tax expense 50,231,672.14 14,324,142.36
4. Net profit (“-” for net loss) 161,709,352.08 35,829,168.96
4.1 Net profit from continuing
161,709,352.08 35,829,168.96
operations (“-” for net loss)
4.2 Net profit from discontinued
operations (“-” for net loss)
5. Other comprehensive income, net
0.00 0.00
of tax
5.1 Items that will not be
reclassified to profit or loss
5.1.1 Changes caused by
remeasurements on defined benefit
pension schemes
5.1.2 Other comprehensive
income that will not be reclassified to
profit or loss under the equity method
5.1.3 Changes in the fair value
of investments in other equity
instruments
5.1.4 Changes in the fair value
of the company’s credit risks
5.1.5 Other
5.2 Items that will be reclassified
to profit or loss
5.2.1 Other comprehensive
income that will be reclassified to
profit or loss under the equity method
5.2.2 Changes in the fair value
of investments in other debt
obligations
5.2.3 Gain/Loss on changes in
the fair value of available-for-sale
financial assets
5.2.4 Other comprehensive
income arising from the
reclassification of financial assets
29
ShenZhen Properties & Resources Development (Group) Ltd. Third Quarter Report 2019
5.2.5 Gain/Loss arising from the
reclassification of held-to-maturity
investments to available-for-sale
financial assets
5.2.6 Allowance for credit
impairments in investments in other
debt obligations
5.2.7 Reserve for cash flow
hedges
5.2.8 Differences arising from
the translation of foreign
currency-denominated financial
statements
5.2.9 Other
6. Total comprehensive income 161,709,352.08 35,829,168.96
7. Earnings per share
7.1 Basic earnings per share 0.2713 0.0601
7.2 Diluted earnings per share 0.2713 0.0601
7. Consolidated Cash Flow Statement for Q1~Q3
Unit: RMB
Item Q1~Q3 2019 Q1~Q3 2018
1. Cash flows from operating
activities:
Proceeds from sale of commodities
3,314,246,618.83 1,295,693,553.75
and rendering of services
Net increase in customer deposits
and interbank deposits
Net increase in borrowings from
the central bank
Net increase in loans from other
financial institutions
Premiums received on original
insurance contracts
Net proceeds from reinsurance
Net increase in deposits and
investments of policy holders
Interest, handling charges and
commissions received
Net increase in interbank loans
obtained
30
ShenZhen Properties & Resources Development (Group) Ltd. Third Quarter Report 2019
Net increase in proceeds from
repurchase transactions
Net proceeds from acting trading
of securities
Tax rebates
Cash generated from other
67,566,886.74 54,362,412.15
operating activities
Subtotal of cash generated from
3,381,813,505.57 1,350,055,965.90
operating activities
Payments for commodities and
1,905,982,605.70 346,412,905.78
services
Net increase in loans and advances
to customers
Net increase in deposits in the
central bank and in interbank loans
granted
Payments for claims on original
insurance contracts
Net increase in interbank loans
granted
Interest, handling charges and
commissions paid
Policy dividends paid
Cash paid to and for employees 293,904,283.08 257,504,612.76
Taxes paid 561,618,318.73 635,718,764.52
Cash used in other operating
86,038,043.75 60,438,652.65
activities
Subtotal of cash used in operating
2,847,543,251.26 1,300,074,935.71
activities
Net cash generated from/used in
534,270,254.31 49,981,030.19
operating activities
2. Cash flows from investing
activities:
Proceeds from disinvestment
Return on investment
Net proceeds from the disposal of
fixed assets, intangible assets and 18,465.00 86,935.08
other long-lived assets
Net proceeds from the disposal of
79,901,686.57
subsidiaries and other business units
Cash generated from other
31
ShenZhen Properties & Resources Development (Group) Ltd. Third Quarter Report 2019
investing activities
Subtotal of cash generated from
18,465.00 79,988,621.65
investing activities
Payments for the acquisition of
fixed assets, intangible assets and 36,152,392.84 3,820,791.01
other long-lived assets
Payments for investments
Net increase in pledged loans
granted
Net payments for the acquisition of
1,555,272.25
subsidiaries and other business units
Cash used in other investing
activities
Subtotal of cash used in investing
37,707,665.09 3,820,791.01
activities
Net cash generated from/used in
-37,689,200.09 76,167,830.64
investing activities
3. Cash flows from financing
activities:
Capital contributions received 3,220,000.00
Including: Capital contributions
by non-controlling interests to 3,220,000.00
subsidiaries
Borrowings obtained 1,000,000.00
Cash generated from other
financing activities
Subtotal of cash generated from
3,220,000.00 1,000,000.00
financing activities
Repayments of borrowings
Payments for interest and
362,438,136.65 178,787,631.06
dividends
Including: Dividends paid by
subsidiaries to non-controlling
interests
Cash used in other financing
activities
Subtotal of cash used in financing
362,438,136.65 178,787,631.06
activities
Net cash generated from/used in
-359,218,136.65 -177,787,631.06
financing activities
4. Effect of foreign exchange rate
214,256.25 2,657,365.10
changes on cash and cash equivalents
32
ShenZhen Properties & Resources Development (Group) Ltd. Third Quarter Report 2019
5. Net increase in cash and cash
137,577,173.82 -48,981,405.13
equivalents
Add: Cash and cash equivalents,
3,375,714,690.09 2,464,626,655.21
beginning of the period
6. Cash and cash equivalents, end of
3,513,291,863.91 2,415,645,250.08
the period
8. Cash Flow Statement of the Company as the Parent for Q1~Q3
Unit: RMB
Item Q1~Q3 2019 Q1~Q3 2018
1. Cash flows from operating
activities:
Proceeds from sale of commodities
320,412,800.30 375,845,935.24
and rendering of services
Tax rebates
Cash generated from other
2,136,343,279.15 189,133,015.29
operating activities
Subtotal of cash generated from
2,456,756,079.45 564,978,950.53
operating activities
Payments for commodities and
581,569,445.28 6,799,103.87
services
Cash paid to and for employees 31,673,711.59 16,595,230.41
Taxes paid 351,320,590.40 89,575,754.41
Cash used in other operating
42,133,507.81 332,877,876.21
activities
Subtotal of cash used in operating
1,006,697,255.08 445,847,964.90
activities
Net cash generated from/used in
1,450,058,824.37 119,130,985.63
operating activities
2. Cash flows from investing
activities:
Proceeds from disinvestment
Return on investment 42,472,222.23
Net proceeds from the disposal of
fixed assets, intangible assets and 690.00 12,657.70
other long-lived assets
Net proceeds from the disposal of
73,001,849.11
subsidiaries and other business units
Cash generated from other
investing activities
Subtotal of cash generated from 42,472,912.23 73,014,506.81
33
ShenZhen Properties & Resources Development (Group) Ltd. Third Quarter Report 2019
investing activities
Payments for the acquisition of
fixed assets, intangible assets and 15,905,263.70 503,316.94
other long-lived assets
Payments for investments 1,200,000,000.00 39,351,392.06
Net payments for the acquisition of
1,600,000.00
subsidiaries and other business units
Cash used in other investing
activities
Subtotal of cash used in investing
1,217,505,263.70 39,854,709.00
activities
Net cash generated from/used in
-1,175,032,351.47 33,159,797.81
investing activities
3. Cash flows from financing
activities:
Capital contributions received
Borrowings obtained
Cash generated from other
financing activities
Subtotal of cash generated from
financing activities
Repayments of borrowings
Payments for interest and
178,793,727.60 178,778,071.68
dividends
Cash used in other financing
activities
Subtotal of cash used in financing
178,793,727.60 178,778,071.68
activities
Net cash generated from/used in
-178,793,727.60 -178,778,071.68
financing activities
4. Effect of foreign exchange rate
2,634.28 2,723.88
changes on cash and cash equivalents
5. Net increase in cash and cash
96,235,379.58 -26,484,564.36
equivalents
Add: Cash and cash equivalents,
2,520,788,994.16 1,754,272,751.45
beginning of the period
6. Cash and cash equivalents, end of
2,617,024,373.74 1,727,788,187.09
the period
34
ShenZhen Properties & Resources Development (Group) Ltd. Third Quarter Report 2019
II Adjustments to the Financial Statements
1. Adjustments to the Financial Statements at the Beginning of the Execution of any New Standards
Governing Financial Instruments, Revenue or Leases from 2019
√ Applicable □ Not applicable
Consolidated Balance Sheet
Unit: RMB
Item 31 December 2018 1 January 2019 Adjusted
Current assets:
Monetary capital 3,389,234,357.72 3,389,234,357.72
Settlement reserve
Interbank loans granted
Trading financial assets
Financial assets at fair value
through profit or loss
Derivative financial assets
Notes receivable
Accounts receivable 64,231,267.94 64,231,267.94
Accounts receivable
financing
Prepayments 35,913,164.32 35,913,164.32
Premiums receivable
Reinsurance receivables
Receivable reinsurance
contract reserve
Other receivables 24,428,411.19 24,428,411.19
Including: Interest
8,293,317.33 8,293,317.33
receivable
Dividends
receivable
Financial assets purchased
under resale agreements
Inventories 1,181,762,531.67 1,181,762,531.67
Contractual assets
Assets classified as held for
sale
Current portion of
non-current assets
35
ShenZhen Properties & Resources Development (Group) Ltd. Third Quarter Report 2019
Other current assets 16,694,408.12 16,694,408.12
Total current assets 4,712,264,140.96 4,712,264,140.96
Non-current assets:
Loans and advances to
customers
Investments in debt
obligations
Available-for-sale financial
3,621,381.11 -3,621,381.11
assets
Investments in other debt
obligations
Held-to-maturity
investments
Long-term receivables
Long-term equity
39,999,283.24 39,999,283.24
investments
Investments in other equity
instruments
Other non-current financial
3,621,381.11 3,621,381.11
assets
Investment property 400,550,689.90 400,550,689.90
Fixed assets 32,612,592.40 32,612,592.40
Construction in progress
Productive living assets
Oil and gas assets
Right-of-use assets
Intangible assets
R&D expense
Goodwill
Long-term prepaid expense 2,398,576.29 2,398,576.29
Deferred income tax assets 519,783,531.64 519,783,531.64
Other non-current assets 108,971,942.00 108,971,942.00
Total non-current assets 1,107,937,996.58 1,107,937,996.58
Total assets 5,820,202,137.54 5,820,202,137.54
Current liabilities:
Short-term borrowings
Borrowings from central
36
ShenZhen Properties & Resources Development (Group) Ltd. Third Quarter Report 2019
bank
Interbank loans obtained
Trading financial liabilities
Financial liabilities at fair
value through profit or loss
Derivative financial
liabilities
Notes payable
Accounts payable 398,429,855.96 398,429,855.96
Advances from customers 265,338,215.34 265,338,215.34
Contractual liabilities
Financial assets sold under
repurchase agreements
Customer deposits and
interbank deposits
Payables for acting trading
of securities
Payables for underwriting of
securities
Payroll payable 96,069,521.54 96,069,521.54
Taxes payable 1,552,720,630.59 1,552,720,630.59
Other payables 112,502,146.69 112,502,146.69
Including: Interest
1,669.10 1,669.10
payable
Dividends
29,642.40 29,642.40
payable
Handling charges and
commissions payable
Reinsurance payables
Liabilities directly
associated with assets
classified as held for sale
Current portion of
non-current liabilities
Other current liabilities
Total current liabilities 2,425,060,370.12 2,425,060,370.12
Non-current liabilities:
Insurance contract reserve
Long-term borrowings 1,000,000.00 1,000,000.00
37
ShenZhen Properties & Resources Development (Group) Ltd. Third Quarter Report 2019
Bonds payable
Including: Preferred
shares
Perpetual
bonds
Lease liabilities
Long-term payables
Long-term payroll payable
Provisions
Deferred income
Deferred income tax
5,275.60 5,275.60
liabilities
Other non-current liabilities 52,937,180.81 52,937,180.81
Total non-current liabilities 53,942,456.41 53,942,456.41
Total liabilities 2,479,002,826.53 2,479,002,826.53
Owners’ equity:
Share capital 595,979,092.00 595,979,092.00
Other equity instruments
Including: Preferred
shares
Perpetual
bonds
Capital reserves 118,938,132.89 118,938,132.89
Less: Treasury stock
Other comprehensive
-1,786,181.69 -1,786,181.69
income
Specific reserve
Surplus reserves 299,569,569.96 299,569,569.96
General reserve
Retained earnings 2,325,248,711.48 2,325,248,711.48
Total equity attributable to
owners of the Company as the 3,337,949,324.64 3,337,949,324.64
parent
Non-controlling interests 3,249,986.37 3,249,986.37
Total owners’ equity 3,341,199,311.01 3,341,199,311.01
Total liabilities and owners’
5,820,202,137.54 5,820,202,137.54
equity
Note for adjustment:
38
ShenZhen Properties & Resources Development (Group) Ltd. Third Quarter Report 2019
According to the Accounting Standards for Business Enterprises No. 22 - Recognition and Measurement of Financial Instruments
(CK[2017] No. 7), the Accounting Standards for Business Enterprises No. 23 – Transfer of Financial Assets (CK[2017] No. 8), the
Accounting Standards for Business Enterprises No. 24 – Hedging Accounting (CK[2017] No. 9), and the Accounting Standards for
Business Enterprises No. 37 – Presentation of Financial Instruments (CK[2017] No. 14) issued and revised in 2017 by Ministry of
Finance, enterprises listed domestically shall implement relevant new accounting standards of financial instruments from 1 January
2019.
Notes of Revising and Printing the Format of 2018 General Enterprises Financial Statement (CK [2018] No. 15) (hereinafter referred
to as “CK [2018] No. 15”) was issued by the Ministry of Finance on 15 June 2018, which required non-financial enterprises
implementing accounting standards to prepare the financial statements in accordance with the revised format of general enterprises
financial statements (applying to the enterprises who already implemented new standards governing financial instruments and
revenue)
Adjustments are as follows according to the regulations and requirements of above notes and accounting standards for business
enterprise:
1. The Company classified and adjusted the original “Available-for-sale financial assets” to “Other non-current financial assets”
according to the regulations of new standards of governing financial instruments.
2. The Company changed “incurred loss method” to “expected loss method” for provision for financial assets impairment.
3. According to the regulations of new accounting standards governing financial instruments, the Company did not need to restate the
pervious comparative data. The adjustment of discrepancy between with the new standards at the first execution day and original
standards shall be recorded into the beginning retained earnings of 2019 or other comprehensive income.
Balance Sheet of the Company as the Parent
Unit: RMB
Item 31 December 2018 1 January 2019 Adjusted
Current assets:
Monetary capital 2,520,788,994.16 2,520,788,994.16
Trading financial assets 0.00 0.00
Financial assets at fair value
through profit or loss
Derivative financial assets 0.00 0.00
Notes receivable 0.00 0.00
Accounts receivable 1,853,494.72 1,853,494.72
Accounts receivable
financing
Prepayments 829,683.68 829,683.68
Other receivables 1,306,715,826.93 1,306,715,826.93
Including: Interest
8,229,503.58 8,229,503.58
receivable
Dividends
0.00 0.00
receivable
39
ShenZhen Properties & Resources Development (Group) Ltd. Third Quarter Report 2019
Inventories 105,840,115.24 105,840,115.24
Contractual assets
Assets classified as held for
sale
Current portion of
0.00 0.00
non-current assets
Other current assets 0.00 0.00
Total current assets 3,936,028,114.73 3,936,028,114.73
Non-current assets:
Investments in debt
obligations
Available-for-sale financial
3,851,881.11 -3,851,881.11
assets
Investments in other debt
obligations
Held-to-maturity
0.00 0.00
investments
Long-term receivables 0.00 0.00
Long-term equity
239,501,956.17 239,501,956.17
investments
Investments in other equity
instruments
Other non-current financial
0.00 3,851,881.11 3,851,881.11
assets
Investment property 317,313,917.65 317,313,917.65
Fixed assets 9,121,637.65 9,121,637.65
Construction in progress 0.00 0.00
Productive living assets 0.00 0.00
Oil and gas assets 0.00 0.00
Right-of-use assets
Intangible assets 0.00 0.00
R&D expense 0.00 0.00
Goodwill 0.00 0.00
Long-term prepaid expense 778,392.57 778,392.57
Deferred income tax assets 315,888,967.26 315,888,967.26
Other non-current assets 104,132,920.00 104,132,920.00
Total non-current assets 990,589,672.41 990,589,672.41
40
ShenZhen Properties & Resources Development (Group) Ltd. Third Quarter Report 2019
Total assets 4,926,617,787.14 4,926,617,787.14
Current liabilities:
Short-term borrowings 0.00 0.00
Trading financial liabilities 0.00 0.00
Financial liabilities at fair
value through profit or loss
Derivative financial
liabilities
Notes payable 0.00 0.00
Accounts payable 124,501,464.28 124,501,464.28
Advances from customers 75,895,087.75 75,895,087.75
Contractual liabilities
Payroll payable 31,224,455.28 31,224,455.28
Taxes payable 1,402,388,742.76 1,402,388,742.76
Other payables 224,875,980.31 54,376,657.71
Including: Interest
0.00 0.00
payable
Dividends
29,642.40 29,642.40
payable
Liabilities directly
associated with assets
classified as held for sale
Current portion of
non-current liabilities
Other current liabilities 170,499,322.60
Total current liabilities 1,858,885,730.38 1,858,885,730.38
Non-current liabilities:
Long-term borrowings 0.00 0.00
Bonds payable 0.00 0.00
Including: Preferred
0.00 0.00
shares
Perpetual
0.00 0.00
bonds
Lease liabilities
Long-term payables 0.00 0.00
Long-term payroll payable
Provisions 0.00 0.00
41
ShenZhen Properties & Resources Development (Group) Ltd. Third Quarter Report 2019
Deferred income 0.00 0.00
Deferred income tax
0.00 0.00
liabilities
Other non-current liabilities 0.00 0.00
Total non-current liabilities 0.00 0.00
Total liabilities 1,858,885,730.38 1,858,885,730.38
Owners’ equity:
Share capital 595,979,092.00 595,979,092.00
Other equity instruments
Including: Preferred
shares
Perpetual
bonds
Capital reserves 92,326,467.62 92,326,467.62
Less: Treasury stock 0.00 0.00
Other comprehensive
0.00 0.00
income
Specific reserve
Surplus reserves 298,912,759.52 298,912,759.52
Retained earnings 2,080,513,737.62 2,080,513,737.62
Total owners’ equity 3,067,732,056.76 3,067,732,056.76
Total liabilities and owners’
4,926,617,787.14 4,926,617,787.14
equity
Note for adjustment:
According to the Accounting Standards for Business Enterprises No. 22 - Recognition and Measurement of Financial Instruments
(CK[2017] No. 7), the Accounting Standards for Business Enterprises No. 23 – Transfer of Financial Assets (CK[2017] No. 8), the
Accounting Standards for Business Enterprises No. 24 – Hedging Accounting (CK[2017] No. 9), and the Accounting Standards for
Business Enterprises No. 37 – Presentation of Financial Instruments (CK[2017] No. 14) issued and revised in 2017 by Ministry of
Finance, enterprises listed domestically shall implement relevant new accounting standards of financial instruments from 1 January
2019.
Notes of Revising and Printing the Format of 2018 General Enterprises Financial Statement (CK [2018] No. 15) (hereinafter referred
to as “CK [2018] No. 15”) was issued by the Ministry of Finance on 15 June 2018, which required non-financial enterprises
implementing accounting standards to prepare the financial statements in accordance with the revised format of general enterprises
financial statements (applying to the enterprises who already implemented new standards governing financial instruments and
revenue)
Adjustments are as follows according to the regulations and requirements of above notes and accounting standards for business
enterprise:
1. The Company classified and adjusted the original “Available-for-sale financial assets” to “Other non-current financial assets”
according to the regulations of new standards of governing financial instruments.
2. The Company changed “incurred loss method” to “expected loss method” for provision for financial assets impairment.
42
ShenZhen Properties & Resources Development (Group) Ltd. Third Quarter Report 2019
3. According to the regulations of new accounting standards governing financial instruments, the Company did not need to restate the
pervious comparative data. The adjustment of discrepancy between with the new standards at the first execution day and original
standards shall be recorded into the beginning retained earnings of 2019 or other comprehensive income.
2. Retrospective Restatement of Previous Comparative Data due to the Execution of any New Standards
Governing Financial Instruments or Leases from 2019
□ Applicable √ Not applicable
III Independent Auditor’s Report
Indicate by tick mark whether the financial statements above have been audited by an independent auditor.
□Yes √ No
These financial statements have not been audited by such an auditor.
43
