Report for the First Quarter of 2013 of Shenzhen Special Economic Zone Real Estate & Properties (Group) Co., Ltd.
Shenzhen Special Economic Zone Real Estate & Properties (Group)
Co., Ltd.
Report for the First Quarter of 2013
2013-010
April 2013
1
Report for the First Quarter of 2013 of Shenzhen Special Economic Zone Real Estate & Properties (Group) Co., Ltd.
Section I. Important Reminders
The Board of Directors, the Supervisory Committee, directors, supervisors and senior management staff of
Shenzhen Special Economic Zone Real Estate & Properties (Group) Co., Ltd. (hereinafter referred to as “the
Company”) warrant that the information carried in this report is factual, accurate and complete, without any false
record, misleading statement or material omission. And they shall be jointly and severally liable for that.
Zhou Jianguo, chairman of the Board of Directors, Chen Maozheng, GM, Wei Hanping, chief of the accounting
work, and Tang Xiaoping, chief of the accounting organ (chief of accounting), hereby confirm that the financial
statements enclosed in this report are factual, accurate and complete.
Except the following directors, all other directors have attended in person the board session for reviewing this
report.
Reason for not attending the
Name Position Name of proxy
board session in person
Chen Maozheng Director On a business trip Zhou Jianguo
This report is prepared in both Chinese and English. Should there be any discrepancy between the two versions,
the Chinese version shall prevail.
2
Report for the First Quarter of 2013 of Shenzhen Special Economic Zone Real Estate & Properties (Group) Co., Ltd.
Section II. Financial Highlights & Change of Shareholders
I. Financial highlights
Does the Company adjust retrospectively or restate any accounting data of previous years?
□ Yes √ No
Jan.-Mar. 2013 Jan.-Mar. 2012 +/- (%)
Operating revenues (RMB Yuan) 164,450,026.79 233,274,476.76 -29.5%
Net profit attributable to shareholders of
3,508,651.86 22,039,543.14 -84.08%
the Company (RMB Yuan)
Net profit attributable to shareholders of
the Company after extraordinary gains and 3,501,642.35 22,021,940.42 -84.1%
losses (RMB Yuan)
Net cash flows from operating activities
270,776,251.76 -16,248,114.45 1,766.51%
(RMB Yuan)
Basic EPS (RMB Yuan/share) 0.0035 0.0218 -83.94%
Diluted EPS (RMB Yuan/share) 0.0035 0.0218 -83.94%
Weighted average ROE (%) 0.21% 1.43% -1.22%
31 Mar. 2013 31 Dec. 2012 +/- (%)
Total assets (RMB Yuan) 4,070,105,669.60 3,712,770,828.30 9.62%
Net assets attributable to shareholders of
1,639,305,492.32 1,635,376,098.73 0.24%
the Company (RMB Yuan)
Items and amounts of extraordinary gains and losses
√ Applicable □ Inapplicable
Unit: RMB Yuan
Item 1 Jan. 2013-31 Mar. 2013 Explanation
Non-operating income and expense other than the above 8,312.01
Income tax effects 1,302.50
Total 7,009.51 --
II. Total number of shareholders at the period-end and shareholdings of top 10 shareholders
Unit: share
Total number of shareholders at the
83,721
period-end
Shareholdings of top 10 shareholders
Name of Nature of Shareholding Total shares held Number of Pledged or frozen shares
3
Report for the First Quarter of 2013 of Shenzhen Special Economic Zone Real Estate & Properties (Group) Co., Ltd.
shareholder shareholder percentage (%) at the period-end restricted shares
Status of shares Number of shares
held
SHENZHEN
INVESTMENT State-owned
63.55% 642,884,262 0
HOLDINGS CO., corporation
LTD
Domestic natural
LIU YONGKUI 0.28% 2,812,349 0
person
Domestic natural
JING JIANJUN 0.17% 1,750,000 0
person
GUOTAI
JUNAN
Foreign
SECURITIES(H 0.15% 1,536,250 0
corporation
ONGKONG)
LIMITED
YANG Domestic natural
0.11% 1,138,900 0
SHUILIAN person
THE
CUSTOMER
CREDIT
TRANSACTION Domestic
GUARANTEE non-state-owned 0.11% 1,116,294 0
SECURITIES corporation
ACCOUNT OF
GF SECURITIES
CO., LTD.
WANG Domestic natural
0.11% 1,095,808 0
ZHONGMING person
Foreign natural
WU HAOYUAN 0.11% 1,092,100 0
person
Foreign natural
LI, LONG CHIU 0.09% 950,550 0
person
XUE Domestic natural
0.09% 894,956 0
HAOYUAN person
Shareholdings of top 10 non-restricted shareholders
Variety of shares
Name of shareholder Number of non-restricted shares held
Variety Number
SHENZHEN INVESTMENT RMB ordinary
642,884,262 642,884,262
HOLDINGS CO., LTD shares
LIU YONGKUI 2,812,349 RMB ordinary 2,812,349
4
Report for the First Quarter of 2013 of Shenzhen Special Economic Zone Real Estate & Properties (Group) Co., Ltd.
shares
RMB ordinary
JING JIANJUN 1,750,000 1,750,000
shares
GUOTAI JUNAN Domestically
SECURITIES(HONGKONG) 1,536,250 listed foreign 1,536,250
LIMITED shares
RMB ordinary
YANG SHUILIAN 1,138,900 1,138,900
shares
THE CUSTOMER CREDIT
TRANSACTION GUARANTEE RMB ordinary
1,116,294 1,116,294
SECURITIES ACCOUNT OF GF shares
SECURITIES CO., LTD.
Domestically
WANG ZHONGMING 1,095,808 listed foreign 1,095,808
shares
Domestically
WU HAOYUAN 1,092,100 listed foreign 1,092,100
shares
Domestically
LI, LONG CHIU 950,550 listed foreign 950,550
shares
RMB ordinary
XUE HAOYUAN 894,956 894,956
shares
Explanation on associated
relationship or persons acting in
N/A
concert among the above-mentioned
shareholders
5
Report for the First Quarter of 2013 of Shenzhen Special Economic Zone Real Estate & Properties (Group) Co., Ltd.
Section III. Significant Events
I. Significant changes of the major accounting statement items and financial indicators for the
reporting period, as well as the reasons for these changes
1. The operating revenues for the reporting period stood at RMB 164.45 million, down 29.50% over the same
period of last year; the total profit stood at RMB 6.42 million, down 78.07% over the same period of last year; and
the net profit attributable to owners of the Company stood at RMB 3.51 million, down 84.08% over the same
period of last year. The revenues and profit for the reporting period decreased manly because there were only
some leftover houses for sale in the Jinye Island International Garden project of the wholly-funded subsidiary
Shantou Hualin Real Estate Development Co., Ltd. and the relevant operating revenue decreased. For the
reporting period, the operating revenues of Shantou Hualin Real Estate Development Co., Ltd. stood at RMB
31.18 million, down 65.47% over the same period of last year. And its net profit stood at RMB 7.63 million, down
63.64% over the same period of last year. The “SPG Chuanqi Hill” project of the headquarters of the Company
entered presale at the end of 2012, but it has yet reached the carry-over conditions for now.
2. Prepayments stood at RMB 65.85 million, up 65.96% over the year-begin, which was mainly because the
engineering prepayments by the wholly-funded subsidiary Shenzhen Zhentong Engineering Co., Ltd. increased.
3. Other current assets stood at RMB 12.05 million, up 54.90% over the year-begin, which was mainly because
the paid taxes on the presale income of the headquarters of the Company increased.
4. Short-term borrowings stood at RMB 16 million, down 83.33% over the year-begin, which was mainly because
some bank loans were repaid.
5. Accounts received in advance stood at RMB 904.68 million, up 122.17% over the year-begin, which was
mainly due to the payments received by the headquarters of the Company for selling houses of the “SPG Chuanqi
Hill” project.
6. Taxes and fares payable stood at RMB 10.85 million, down 45.66% over the year-begin, which was mainly
because the turnover tax withdrawn at the end of last year was paid.
7. Net cash flows from operating activities stood at RMB 270.78 million, up 1766.51% over the same period of
last year, which was mainly due to the payments received by the headquarters of the Company for selling houses
of the “SPG Chuanqi Hill” project.
8. Net cash flows from financing activities stood at RMB -139.52 million, down 124.68% over the same period of
last year, which was mainly because some bank loans were repaid.
II. Progress of significant events and analysis & explanations on their influence and solutions
In order to continue the implementation of the “Basic Rules of Internal Control for Enterprises” and its mating
guidelines and according to the internal control improvement arrangements for 2013, the Company has, upon
deliberation, planned to include Shenzhen Zhentong Engineering Co., Ltd. in its internal control improvement
scope. And the relevant work has been proceeding as scheduled.
Website index for the
Overview of the significant event Date of disclosure disclosed relevant interim
report
6
Report for the First Quarter of 2013 of Shenzhen Special Economic Zone Real Estate & Properties (Group) Co., Ltd.
Concerning the Dong Hu Di Jing Building project, in early September
2012, Shenzhen General Institute of Architectural Design and Research
Co., Ltd. completed the first draft of design under entrustment of the
Company, which was later submitted to the relevant department of the
first administration directly under Shenzhen Urban Planning and Land
Resources Commission for review and approval. In the middle of
November 2012, the Company submitted the revised design plan and 30 Mar. 2013 http://www.cninfo.com.cn
planning key points to the first administration. Upon review, the first
administration decided to withdraw the “Decision on Idle Land” first. In
early 2013, the first administration reported its withdrawal decision to the
UPLR Commission for deliberation and approval. And the Company will
kick off preparations for the project as soon as the “Decision on Idle
Land” is withdrawn.
III. Commitments made by the Company or any shareholder with a shareholding over 5% in
the reporting period or such commitments carried down into the reporting period
Commitment Contents of Date of Period of
Commitment Execution
maker commitment commitment commitment
Share reform commitment
Commitment made in an acquisition report or
a report on equity changes
Commitment made in asset reorganization
Commitment made in IPO or re-financing
Commitment made to minority shareholders
of the Company
Executed in time or not Yes
Is a commitment made concerning any
resulted horizontal competition and No
related-party transaction?
IV. Predict the operating results of Jan.-Jun. 2013
Warning of possible loss or considerable YoY change of the accumulated net profit made during the period-begin to the end of the
next reporting period according to prediction, as well as explanations on the reasons:
√ Applicable □ Inapplicable
Prediction: significant decrease in the same direction
Type of the predicted data: interval data
Jan.-Jun. 2013 Jan.-Jun. 2012 +/- (%)
Predicted accumulative net
500 -- 1,000 4,008 Down 75.05% -- 87.52%
profit (RMB Ten thousand)
7
Report for the First Quarter of 2013 of Shenzhen Special Economic Zone Real Estate & Properties (Group) Co., Ltd.
Basic EPS (RMB Yuan/share) 0.0049 -- 0.0099 0.0396 Down 75% -- 87.63%
In the same period of last year, the Company’s profit mainly came from the Jinye Island
International Garden project of its wholly-funded subordinate Shantou Hualin Real Estate
Explanation about the
Development Co., Ltd.. In the reporting period, there were only some leftover houses of the project
predictions
for sale. The “SPG Chuanqi Hill” project of the headquarters of the Company entered presale at the
end of 2012, but it cannot reach the carry-over conditions by the end of the next reporting period.
V. Securities investments
Sharehold Sharehold Gain/loss
Initial Number Number Closing
ing ing for
investmen of shares of shares book
Variety of Code of Name of percentag percentag reporting Accounti Source of
t cost held at held at value
securities securities securities e at e at period ng title securities
(RMB period-be period-en (RMB
period-be period-en (RMB
Yuan) gin d Yuan)
gin d Yuan)
Total 0.00 0 -- 0 -- 0.00 0.00 -- --
Explain shareholdings in other listed companies:
N/A
VI. Derivative investments
Derivative investments held at period-end:
□ Applicable √ Inapplicable
Explanation
VII. Researches, visits and interviews received in the reporting period
Main discussion and
Time of reception Place of reception Way of reception Visitor type Visitor materials provided by the
Company
2012 annual operation of
the Company. The
25 Jan. 2013 Company Office By phone Individual Individual investor
Company provided no
written materials.
2012 annual operation and
project progress of the
14 Mar. 2013 Company Office By phone Individual Individual investor Company. The Company
provided no written
materials.
The operating situation in
5 Apr. 2013 Company Office By phone Individual Individual investor 2013 and arrangements for
convening the general
8
Report for the First Quarter of 2013 of Shenzhen Special Economic Zone Real Estate & Properties (Group) Co., Ltd.
meeting. The Company
provided no written
materials.
9
Report for the First Quarter of 2013 of Shenzhen Special Economic Zone Real Estate & Properties (Group) Co., Ltd.
Section IV. Financial Statements
I. Financial statements
1. Consolidated balance sheet
Prepared by Shenzhen Special Economic Zone Real Estate & Properties (Group) Co., Ltd.
Unit: RMB Yuan
Item Closing balance Opening balance
Current Assets:
Monetary funds 616,868,072.89 496,805,905.01
Settlement reserves
Intra-group lendings
Transactional financial assets
Notes receivable
Accounts receivable 31,790,385.17 24,413,187.02
Accounts paid in advance 65,850,144.71 39,677,550.07
Premiums receivable
Reinsurance premiums receivable
Receivable reinsurance contract
reserves
Interest receivable
Dividend receivable 1,052,192.76 1,052,192.76
Other accounts receivable 60,078,687.99 56,894,335.01
Financial assets purchased under
agreements to resell
Inventories 2,632,830,246.83 2,431,754,464.54
Non-current assets due within 1 year
Other current assets 12,051,933.23 7,780,460.78
Total current assets 3,420,521,663.58 3,058,378,095.19
Non-current assets:
Loans by mandate and advances
granted
Available-for-sale financial assets
Held-to-maturity investments
10
Report for the First Quarter of 2013 of Shenzhen Special Economic Zone Real Estate & Properties (Group) Co., Ltd.
Long-term accounts receivable
Long-term equity investment 75,225,969.30 75,225,969.30
Investing property 482,518,295.85 487,373,443.43
Fixed assets 63,488,581.90 63,204,808.66
Construction in progress
Engineering materials
Disposal of fixed assets
Production biological assets
Oil-gas assets
Intangible assets 5,735,911.76 5,866,106.75
R&D expense
Goodwill
Long-term deferred expenses 784,006.83 427,321.35
Deferred income tax assets 19,881,649.62 19,881,649.62
Other non-current assets 1,949,590.76 2,413,434.00
Total of non-current assets 649,584,006.02 654,392,733.11
Total assets 4,070,105,669.60 3,712,770,828.30
Current liabilities:
Short-term borrowings 16,000,000.00 96,000,000.00
Borrowings from Central Bank
Customer bank deposits and due to
banks and other financial institutions
Intra-group borrowings
Transactional financial liabilities
Notes payable
Accounts payable 61,786,182.48 72,660,833.60
Accounts received in advance 904,681,372.42 407,194,198.80
Financial assets sold for repurchase
Handling charges and commissions
payable
Employee’s compensation payable 30,628,214.94 36,675,028.18
Tax payable 10,845,045.38 19,958,153.14
Interest payable 16,535,277.94 18,395,916.84
Dividend payable
Other accounts payable 399,533,298.46 394,741,726.29
11
Report for the First Quarter of 2013 of Shenzhen Special Economic Zone Real Estate & Properties (Group) Co., Ltd.
Reinsurance premiums payable
Insurance contract reserves
Payables for acting trading of
securities
Payables for acting underwriting of
securities
Non-current liabilities due within 1
349,361,543.41 299,261,270.80
year
Other current liabilities
Total current liabilities 1,789,370,935.03 1,344,887,127.65
Non-current liabilities:
Long-term borrowings 757,992,882.44 849,636,078.25
Bonds payable
Long-term payables 11,427,357.94 11,136,124.62
Specific payables
Estimated liabilities
Deferred income tax liabilities
Other non-current liabilities
Total non-current liabilities 769,420,240.38 860,772,202.87
Total liabilities 2,558,791,175.41 2,205,659,330.52
Owners’ equity (or shareholders’
equity)
Paid-up capital (or share capital) 1,011,660,000.00 1,011,660,000.00
Capital reserves 978,244,858.10 978,244,858.10
Less: Treasury stock
Specific reserves
Surplus reserves 4,974,391.15 4,974,391.15
Provisions for general risks
Retained profits -365,645,753.50 -369,154,405.36
Foreign exchange difference 10,071,996.57 9,651,254.84
Total equity attributable to owners of
1,639,305,492.32 1,635,376,098.73
the Company
Minority interests -127,990,998.13 -128,264,600.95
Total owners’ (or shareholders’) equity 1,511,314,494.19 1,507,111,497.78
Total liabilities and owners’ (or
4,070,105,669.60 3,712,770,828.30
shareholders’) equity
12
Report for the First Quarter of 2013 of Shenzhen Special Economic Zone Real Estate & Properties (Group) Co., Ltd.
Legal representative: Zhou Jianguo Chief of the accounting work: Wei Hanping
Chief of the accounting organ: Tang Xiaoping
2. Balance sheet of the Company
Prepared by Shenzhen Special Economic Zone Real Estate & Properties (Group) Co., Ltd.
Unit: RMB Yuan
Item Closing balance Opening balance
Current Assets:
Monetary funds 400,316,869.15 223,827,179.97
Transactional financial assets
Notes receivable
Accounts receivable 12,204,385.57 13,663,339.96
Accounts paid in advance 317,222.08 55,500.00
Interest receivable
Dividend receivable
Other accounts receivable 351,680,895.95 343,568,799.28
Inventories 1,954,902,774.06 1,844,523,622.50
Non-current assets due within 1 year
Other current assets 4,088,540.34 0.00
Total current assets 2,723,510,687.15 2,425,638,441.71
Non-current assets:
Available-for-sale financial assets
Held-to-maturity investments
Long-term accounts receivable
Long-term equity investment 298,396,683.90 298,396,683.90
Investing property 421,795,132.17 426,426,812.91
Fixed assets 33,275,130.29 33,944,334.56
Construction in progress
Engineering materials
Disposal of fixed assets
Production biological assets
Oil-gas assets
Intangible assets 302,566.76 327,266.75
R&D expense
13
Report for the First Quarter of 2013 of Shenzhen Special Economic Zone Real Estate & Properties (Group) Co., Ltd.
Goodwill
Long-term deferred expenses 175,323.60 189,456.15
Deferred income tax assets 6,814.20 6,814.20
Other non-current assets 1,949,590.76 1,376,400.00
Total of non-current assets 755,901,241.68 760,667,768.47
Total assets 3,479,411,928.83 3,186,306,210.18
Current liabilities:
Short-term borrowings 0.00 70,000,000.00
Transactional financial liabilities
Notes payable
Accounts payable 19,904,526.16 24,195,725.69
Accounts received in advance 703,749,456.00 280,272,668.00
Employee’s compensation payable 11,063,835.54 10,848,111.62
Tax payable 4,296,575.35 6,204,121.44
Interest payable 16,535,277.94 18,020,083.50
Dividend payable
Other accounts payable 600,434,651.69 608,165,106.86
Non-current liabilities due within 1
349,361,543.41 299,261,270.80
year
Other current liabilities
Total current liabilities 1,705,345,866.09 1,316,967,087.91
Non-current liabilities:
Long-term borrowings 557,992,882.44 649,636,078.25
Bonds payable
Long-term payables
Specific payables
Estimated liabilities
Deferred income tax liabilities
Other non-current liabilities
Total non-current liabilities 557,992,882.44 649,636,078.25
Total liabilities 2,263,338,748.53 1,966,603,166.16
Owners’ equity (or shareholders’
equity)
Paid-up capital (or share capital) 1,011,660,000.00 1,011,660,000.00
Capital reserves 978,244,858.10 978,244,858.10
14
Report for the First Quarter of 2013 of Shenzhen Special Economic Zone Real Estate & Properties (Group) Co., Ltd.
Less: Treasury stock
Specific reserves
Surplus reserves
Provisions for general risks
Retained profits -773,831,677.80 -770,201,814.08
Foreign exchange difference
Total owners’ (or shareholders’) equity 1,216,073,180.30 1,219,703,044.02
Total liabilities and owners’ (or
3,479,411,928.83 3,186,306,210.18
shareholders’) equity
Legal representative: Zhou Jianguo Chief of the accounting work: Wei Hanping
Chief of the accounting organ: Tang Xiaoping
3. Consolidated income statement
Prepared by Shenzhen Special Economic Zone Real Estate & Properties (Group) Co., Ltd.
Unit: RMB Yuan
Item Jan.-Mar. 2013 Jan.-Mar. 2012
I. Total operating revenues 164,450,026.79 233,274,476.76
Including: Sales income 164,450,026.79 233,274,476.76
Interest income
Premium income
Handling charge and
commission income
II. Total operating cost 158,041,116.08 204,043,164.17
Including: Cost of sales 127,798,763.77 163,433,761.90
Interest expenses
Handling charge and
commission expenses
Surrenders
Net claims paid
Net amount withdrawn for the
insurance contract reserve
Expenditure on policy dividends
Reinsurance premium
Taxes and associate charges 12,362,162.94 20,479,316.70
15
Report for the First Quarter of 2013 of Shenzhen Special Economic Zone Real Estate & Properties (Group) Co., Ltd.
Selling and distribution expenses 3,842,289.72 2,870,315.82
Administrative expenses 14,204,653.30 15,021,988.46
Financial expenses -166,753.65 2,237,781.29
Asset impairment loss
Add: Gain/(loss) from change in fair
value (“-” means loss)
Gain/(loss) from investment (“-”
means loss)
Including: share of profits in associates
and joint ventures
Foreign exchange gains (“-” means
loss)
III. Business profit (“-” means loss) 6,408,910.71 29,231,312.59
Add: non-operating income 60,002.01 52,519.70
Less: non-operating expense 51,690.00 22,746.07
Including: loss from non-current asset
633.60
disposal
IV. Total profit (“-” means loss) 6,417,222.72 29,261,086.22
Less: Income tax expense 2,866,073.78 7,173,858.41
V. Net profit (“-” means loss) 3,551,148.94 22,087,227.81
Including: Net profit achieved by
combined parties before the 0.00 0.00
combinations
Attributable to owners of the
3,508,651.86 22,039,543.14
Company
Minority shareholders’ income 42,497.08 47,684.67
VI. Earnings per share -- --
(I) Basic earnings per share 0.0035 0.0218
(II) Diluted earnings per share 0.0035 0.0218
Ⅶ. Other comprehensive incomes 651,847.47 332,052.11
Ⅷ. Total comprehensive incomes 4,202,996.41 22,419,279.92
Attributable to owners of the
3,929,393.59 22,280,228.12
Company
Attributable to minority
273,602.82 139,051.80
shareholders
Legal representative: Zhou Jianguo Chief of the accounting work: Wei Hanping
16
Report for the First Quarter of 2013 of Shenzhen Special Economic Zone Real Estate & Properties (Group) Co., Ltd.
Chief of the accounting organ: Tang Xiaoping
4. Income statement of the Company
Prepared by Shenzhen Special Economic Zone Real Estate & Properties (Group) Co., Ltd.
Unit: RMB Yuan
Item Jan.-Mar. 2013 Jan.-Mar. 2012
I. Total sales 13,672,747.76 19,900,319.10
Less: cost of sales 5,315,662.69 6,588,628.43
Business taxes and surcharges 2,534,340.48 2,869,198.88
Distribution expenses 2,672,681.67 1,130,957.22
Administrative expenses 6,676,864.98 7,581,086.78
Financial costs 145,063.67 134,590.37
Impairment loss
Add: gain/(loss) from change in fair
value (“-” means loss)
Gain/(loss) from investment (“-” means
loss)
Including: income form investment on
associates and joint ventures
II. Business profit (“-” means loss) -3,671,865.73 1,595,857.42
Add: non-business income 60,002.01 30,231.00
Less: non-business expense 18,000.00 0.00
Including: loss from non-current asset
disposal
III. Total profit (“-” means loss) -3,629,863.72 1,626,088.42
Less: income tax expense
IV. Net profit (“-” means loss) -3,629,863.72 1,626,088.42
V. Earnings per share -- --
(I) Basic earnings per share -0.0036 0.0016
(II) Diluted earnings per share -0.0036 0.0016
VI. Other comprehensive income
VII. Total comprehensive income -3,629,863.72 1,626,088.42
Legal representative: Zhou Jianguo Chief of the accounting work: Wei Hanping
Chief of the accounting organ: Tang Xiaoping
17
Report for the First Quarter of 2013 of Shenzhen Special Economic Zone Real Estate & Properties (Group) Co., Ltd.
5. Consolidated cash flow statement
Prepared by Shenzhen Special Economic Zone Real Estate & Properties (Group) Co., Ltd.
Unit: RMB Yuan
Item Jan.-Mar. 2013 Jan.-Mar. 2012
I. Cash flows from operating activities:
Cash received from sale of
627,871,867.98 194,328,246.16
commodities and rendering of service
Net increase of deposits from
customers and dues from banks
Net increase of loans from the central
bank
Net increase of funds borrowed from
other financial institutions
Cash received from premium of
original insurance contracts
Net cash received from reinsurance
business
Net increase of deposits of policy
holders and investment fund
Net increase of disposal of tradable
financial assets
Cash received from interest, handling
charges and commissions
Net increase of intra-group
borrowings
Net increase of funds in repurchase
business
Tax refunds received
Other cash received relating to
41,732,492.96 12,532,876.45
operating activities
Subtotal of cash inflows from operating
669,604,360.94 206,861,122.61
activities
Cash paid for goods and services 303,618,068.17 138,417,144.05
Net increase of customer lendings
and advances
Net increase of funds deposited in the
central bank and amount due from
banks
18
Report for the First Quarter of 2013 of Shenzhen Special Economic Zone Real Estate & Properties (Group) Co., Ltd.
Cash for paying claims of the original
insurance contracts
Cash for paying interest, handling
charges and commissions
Cash for paying policy dividends
Cash paid to and for employees 31,113,894.74 27,354,326.29
Various taxes paid 26,454,731.30 34,303,027.00
Other cash payment relating to
37,641,414.97 23,034,739.72
operating activities
Subtotal of cash outflows from
398,828,109.18 223,109,237.06
operating activities
Net cash flows from operating activities 270,776,251.76 -16,248,114.45
II. Cash flows from investing activities:
Cash received from withdrawal of
investments
Cash received from return on
investments
Net cash received from disposal of
fixed assets, intangible assets and other
long-term assets
Net cash received from disposal of
subsidiaries or other business units
Other cash received relating to
investing activities
Subtotal of cash inflows from
investing activities
Cash paid to acquire fixed assets,
intangible assets and other long-term 665,014.76 1,426,456.00
assets
Cash paid for investment
Net increase of pledged loans
Net cash paid to acquire subsidiaries
and other business units
Other cash payments relating to
investing activities
Subtotal of cash outflows from
665,014.76 1,426,456.00
investing activities
Net cash flows from investing activities -665,014.76 -1,426,456.00
19
Report for the First Quarter of 2013 of Shenzhen Special Economic Zone Real Estate & Properties (Group) Co., Ltd.
III. Cash Flows from Financing
Activities:
Cash received from capital
contributions
Including: Cash received from
minority shareholder investments by
subsidiaries
Cash received from borrowings
Cash received from issuance of
bonds
Other cash received relating to
2,500,000.00
financing activities
Subtotal of cash inflows from financing
2,500,000.00
activities
Repayment of borrowings 122,127,100.98 45,856,539.94
Cash paid for interest expenses and
19,892,153.55 16,240,221.24
distribution of dividends or profit
Including: dividends or profit paid
by subsidiaries to minority shareholders
Other cash payments relating to
financing activities
Sub-total of cash outflows from
142,019,254.53 62,096,761.18
financing activities
Net cash flows from financing activities -139,519,254.53 -62,096,761.18
IV. Effect of foreign exchange rate
-27,885.45 -90,555.56
changes on cash and cash equivalents
V. Net increase in cash and cash
130,564,097.02 -79,861,887.19
equivalents
Add: Opening balance of cash and
463,713,702.77 333,469,243.72
cash equivalents
VI. Closing balance of cash and cash
594,277,799.79 253,607,356.53
equivalents
Legal representative: Zhou Jianguo Chief of the accounting work: Wei Hanping
Chief of the accounting organ: Tang Xiaoping
6. Cash flow statement of the Company
Prepared by Shenzhen Special Economic Zone Real Estate & Properties (Group) Co., Ltd.
20
Report for the First Quarter of 2013 of Shenzhen Special Economic Zone Real Estate & Properties (Group) Co., Ltd.
Unit: RMB Yuan
Item Jan.-Mar. 2013 Jan.-Mar. 2012
I. Cash flows from operating activities:
Cash received from sale of
438,428,405.24 13,422,376.62
commodities and rendering of service
Tax refunds received
Other cash received relating to
9,031,305.16 36,250,464.28
operating activities
Subtotal of cash inflows from operating
447,459,710.40 49,672,840.90
activities
Cash paid for goods and services 102,973,918.96 18,814,346.74
Cash paid to and for employees 7,211,617.13 7,290,944.68
Various taxes paid 9,287,497.80 4,239,863.85
Other cash payment relating to
14,589,887.19 40,466,184.15
operating activities
Subtotal of cash outflows from
134,062,921.08 70,811,339.42
operating activities
Net cash flows from operating activities 313,396,789.32 -21,138,498.52
II. Cash flows from investing activities:
Cash received from retraction of
investments
Cash received from return on
investments
Net cash received from disposal of
fixed assets, intangible assets and other
long-term assets
Net cash received from disposal of
subsidiaries or other business units
Other cash received relating to
investing activities
Subtotal of cash inflows from
investing activities
Cash paid to acquire fixed assets,
intangible assets and other long-term 589,298.76 57,048.00
assets
Cash paid for investment
Net cash paid to acquire subsidiaries
and other business units
21
Report for the First Quarter of 2013 of Shenzhen Special Economic Zone Real Estate & Properties (Group) Co., Ltd.
Other cash payments relating to
investing activities
Subtotal of cash outflows from
589,298.76 57,048.00
investing activities
Net cash flows from investing activities -589,298.76 -57,048.00
III. Cash Flows from Financing
Activities:
Cash received from capital
contributions
Cash received from borrowings
Cash received from issuance of
bonds
Other cash received relating to
2,500,000.00
financing activities
Subtotal of cash inflows from financing
2,500,000.00
activities
Repayment of borrowings 112,127,100.98 5,856,539.94
Cash paid for interest expenses and
16,188,653.53 13,653,246.80
distribution of dividends or profit
Other cash payments relating to
financing activities
Sub-total of cash outflows from
128,315,754.51 19,509,786.74
financing activities
Net cash flows from financing activities -125,815,754.51 -19,509,786.74
IV. Effect of foreign exchange rate
-117.73 -73.08
changes on cash and cash equivalents
V. Net increase in cash and cash
186,991,618.32 -40,705,406.34
equivalents
Add: Opening balance of cash and
190,825,250.83 153,281,158.51
cash equivalents
VI. Closing balance of cash and cash
377,816,869.15 112,575,752.17
equivalents
Legal representative: Zhou Jianguo Chief of the accounting work: Wei Hanping
Chief of the accounting organ: Tang Xiaoping
II. Audit report
Is this report audited?
22
Report for the First Quarter of 2013 of Shenzhen Special Economic Zone Real Estate & Properties (Group) Co., Ltd.
□ Yes √ No
23
