Report for the Third Quarter of 2014 of Shenzhen Special Economic Zone Real Estate & Properties (Group) Co., Ltd.
Shenzhen Special Economic Zone Real Estate & Properties
(Group) Co., Ltd.
Report for the Third Quarter of 2014
2014-022
October 2014
1
Report for the Third Quarter of 2014 of Shenzhen Special Economic Zone Real Estate & Properties (Group) Co., Ltd.
Section I. Important Reminders
The Board of Directors, the Supervisory Committee as well as all 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 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.
Except for the following Directors, other Directors all attended the board session for reviewing this report in
person.
Name Position Reason Name of the mandatory
Liu Quanmin Independent Director Official business Song Botong
Zhou Jianguo, Chairman of the Company, Chen Maozheng, General Manager, Tang Xiaoping, chief of the
accounting work, and Qiao Yanjun, chief of the accounting organ (chief of accounting), hereby confirm that the
Financial Statements enclosed in this report are factual, accurate and complete.
This report is prepared in both Chinese and English. Should there be any discrepancy between the two versions,
the Chinese version shall prevail.
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Report for the Third Quarter of 2014 of Shenzhen Special Economic Zone Real Estate & Properties (Group) Co., Ltd.
Section II. Financial Highlights & Change of Shareholders
I. Major accounting data and financial indexes
Does the Company adjust retrospectively or restate accounting data of previous years due to change of the accounting policy or
correction of any accounting error?
□ Yes √ No
30 Sept. 2014 31 Dec. 2013 Increase/decrease (%)
Total assets (RMB Yuan) 4,429,712,829.72 4,215,099,296.67 5.09%
Net assets attributable to
shareholders of the Company 1,919,924,325.32 1,863,347,135.33 3.04%
(RMB Yuan)
YoY increase/decrease YoY increase/decrease
Jul.-Sept. 2014 Jan.-Sept. 2014
(%) (%)
Operating revenues (RMB Yuan) 294,764,542.65 91.05% 867,838,901.96 82.71%
Net profit attributable to
shareholders of the Company 22,272,401.09 531.25% 57,004,777.82 243.84%
(RMB Yuan)
Net profit attributable to
shareholders of the Company after
21,712,479.80 3,524.76% 56,156,553.79 449.54%
extraordinary gains and losses
(RMB Yuan)
Net cash flows from operating
-- -- 237,793,355.50 2,031.36%
activities (RMB Yuan)
Basic EPS (RMB Yuan/share) 0.0220 528.57% 0.0563 243.29%
Diluted EPS (RMB Yuan/share) 0.0220 528.57% 0.0563 243.29%
Weighted average ROE (%) 1.17% 0.96% 3.01% 2.00%
Items and amounts of extraordinary gains and losses
√Applicable □Inapplicable
Unit: RMB Yuan
Item Amount as of Jan.-Sept. 2014 Note
Gains/losses on the disposal of non-current assets (including the
-70,996.24
offset part of asset impairment provisions)
Abandoned deposit income and
Other non-operating income and expenses than the above 1,201,961.62
metro compensations
Less: Income tax effects 282,741.35
Total 848,224.03 --
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Report for the Third Quarter of 2014 of Shenzhen Special Economic Zone Real Estate & Properties (Group) Co., Ltd.
Explain the reasons if the Company classifies an item as an extraordinary gain/loss according to the definition in the Explanatory
Announcement No. 1 on Information Disclosure for Companies Offering Their Securities to the Public—Extraordinary Gains and
Losses, or classifies any extraordinary gain/loss item mentioned in the said explanatory announcement as a recurrent gain/loss item
□ Applicable √ Inapplicable
No such cases during the reporting period.
II. Total number of shareholders and shareholdings of the top ten shareholders at the
period-end
1. Total number of common shareholders and shareholdings of the top ten common shareholders at the
period-end
Unit: share
Total number of common
71,508
shareholders at the period-end
Shareholdings of the top ten common shareholders
Number of Pledged or frozen shares
Name of Nature of Shareholding Number of the
restricted shares
shareholder shareholder percentage shares held Status of shares Number of shares
held
Shenzhen
State-owned
Investment 63.55% 642,884,262 0
corporation
Holdings Co., Ltd.
Shenzhen
Shenzhilv Domestic
Investment non-state-owned 0.86% 8,715,024 0
Management Co., corporation
Ltd.
Domestic
Wen Jianjun 0.42% 4,222,892 0
individual
Domestic
Zeng Xiaolan 0.40% 4,063,306 0
individual
Domestic
Wang Ailan 0.20% 2,033,281 0
individual
Domestic
Li Yuemei 0.19% 1,922,389 0
individual
Yunnan
International Trust
State-owned
Co., Ltd.－Ruihui 0.18% 1,800,000 0
corporation
Assembled Funds
Trust Plan
GUOTAI JUNAN Foreign 0.17% 1,713,150 0
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Report for the Third Quarter of 2014 of Shenzhen Special Economic Zone Real Estate & Properties (Group) Co., Ltd.
SECURITIES(HO
NGKONG) corporation
LIMITED
ZRGG － Rongjin
State-owned
No. 26 Funds Trust 0.14% 1,400,000 0
corporation
Contract
Domestic
Wang Douhua 0.13% 1,286,300 0
individual
Shareholdings of the top ten non-restricted common shareholders
Number of non-restricted common shares held at the Type of shares
Name of shareholder
period-end Type Number
Shenzhen Investment Holdings Co., RMB ordinary
642,884,262
Ltd. share
Shenzhen Shenzhilv Investment RMB ordinary
8,715,024
Management Co., Ltd. share
RMB ordinary
Wen Jianjun 4,222,892
share
RMB ordinary
Zeng Xiaolan 4,063,306
share
RMB ordinary
Wang Ailan 2,033,281
share
RMB ordinary
Li Yuemei 1,922,389
share
Yunnan International Trust Co., Ltd.
RMB ordinary
－Ruihui Assembled Funds Trust 1,800,000
share
Plan
GUOTAI JUNAN Domestically
SECURITIES(HONGKONG) 1,713,150 listed foreign
LIMITED share
ZRGG－Rongjin No. 26 Funds Trust RMB ordinary
1,400,000
Contract share
RMB ordinary
Wang Douhua 1,286,300
share
Explanation on associated
relationship or persons acting in
Unknown
concert among the above-mentioned
shareholders
Top ten non-restricted common
Naught
shareholders taking part in margin
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Report for the Third Quarter of 2014 of Shenzhen Special Economic Zone Real Estate & Properties (Group) Co., Ltd.
financing and securities lending (if
any)
Did any of the top 10 common shareholders or the top 10 non-restricted common shareholders of the Company carry out any agreed
buy-back in the reporting period?
□ Yes √ No
No shareholder of the Company carried out any agreed buy-back in the reporting period.
2. Total number of preferred share holders and shareholdings of the top ten preferred share holders at the
period-end
□ Applicable √ Inapplicable
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Report for the Third Quarter of 2014 of Shenzhen Special Economic Zone Real Estate & Properties (Group) Co., Ltd.
Section III. Significant Events
I. Major changes of main accounting statement items and financial indicators in the reporting
period, as well as reasons for the changes
√ Applicable □ Inapplicable
1. Influence of the amended accounting standards on the consolidated statements of the Company
According to the amended , the long-term
equity investments that had no offer in the active market and their fair value could not be reliably measured in investees that the
Company did not have control, joint control or significant influence on were treated according to the . As such, the long-term equity investments
(RMB 12 million in book value as at the end of Sept. 2014) were restated as available-for-sale financial assets, and the
year-beginning figure in the consolidated statements were also adjusted accordingly.
Changes of the equity-holdings of the Company in Shantou Small-and Medium Enterprise Financing Guarantee Co., Ltd.:
Equity-holding
Investment cost (RMB Accounting title before Accounting title after
Investee percentage in the
Ten thousand) the change the change
investee (%)
Shantou Small-and
Medium Enterprise Long-term equity inve Available-for-sale finan
1,200 10%
Financing Guarantee stment cial assets
Co., Ltd.
2. Major changes of main accounting statement items and financial indicators in the reporting period, as well as reasons for the
changes
For Jan.-Sept. 2014, the Company achieved operating revenues of RMB 867.8389 million, up 82.71% when compared with the same
period of last year; operating profits of RMB 81.3865 million, soaring 339.94% year on year; total profits of RMB 82.5175 million,
representing a year-on-year rise of 232.02%; and net profits attributable to shareholders of the Company of RMB 57.0048 million, up
243.84% year on year.
For Jan.-Sept. 2014, the real estate division of the Company carried over an income of RMB 411.8892 million, up 347.22% year on
year, mainly from the Chuanqi Hill Project.
Unit: RMB Yuan
Increase/decr
Item 30 Sept. 2014 31 Dec. 2013 Main reason for the change
ease (%)
Prepayments 32,128,944.49 12,206,598.30 163.21%The prepayments for materials and
the noumenon maintenance funds
were not carried over yet.
Non-current assets due within 1 60,024,383.44 3,451,107.04 1639.28%The taxes on the house purchase
year advances and the construction
advances were paid.
Accounts received in advance 915,501,007.82 312,967,028.85 192.52%House purchase advances
increased.
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Report for the Third Quarter of 2014 of Shenzhen Special Economic Zone Real Estate & Properties (Group) Co., Ltd.
Payroll payable 19,649,333.13 37,159,445.41 -47.12%The annual salaries for last year
were paid in the current period.
Taxes and fares payable 34,726,927.34 148,006,651.37 -76.54%The enterprise income tax for last
year was paid in the current period.
Increase/decr
Item Jan.-Sept. 2014 Jan.-Sept. 2013 Main reason for the change
ease (%)
Operating revenues 867,838,901.96 474,974,336.20 82.71%The income carried over from the
Chuanqi Hill Project
Business tax and surtaxes 61,785,122.95 35,287,444.46 75.09%Operating revenues increased.
Selling expenses 20,943,800.69 11,892,013.30 76.12%The marketing & promotion
expenses and the intermediary
commissions increased.
Financial expenses 13,904,377.36 -1,762,106.33 889.08%The capitalized interest decreased.
Non-business incomes 1,374,647.24 6,532,696.24 -78.96%Some fixed assets were disposed in
the same period of last year.
Income tax 25,455,598.08 8,215,293.36 209.86%Total profits increased.
Other comprehensive incomes -625,466.56 1,766,105.83 -135.42%The foreign-currency statement
translation difference decreased
due to exchange rate fluctuations.
Increase/decr
Item Jan.-Sept. 2014 Jan.-Sept. 2013 Main reason for the change
ease (%)
Net cash flows from operating 237,793,355.50 -12,312,244.25 2031.36%The cash paid for goods and
activities services decreased.
Net cash flows from investing -1,133,662.00 4,656,321.37 -124.35%The net cash received from
activities disposal of fixed assets decreased.
Subtotal of cash outflows from 286,898,693.68 428,638,329.53 -33.07%The cash received as borrowings
financing activities decreased.
The Company (without 270,609,041.96 The shares in profits of subsidiaries
subsidiaries): investment gains
Retained profits -229,186,782.42 -564,028,429.22 59.37%The shares in profits of subsidiaries
II. Progress and influence of significant events, as well as the analysis and explanation on
solutions
□ Applicable √ Inapplicable
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Report for the Third Quarter of 2014 of Shenzhen Special Economic Zone Real Estate & Properties (Group) Co., Ltd.
III. Commitments made by the Company or shareholders holding over 5% of the Company’s
shares in the reporting period or such commitments carried down into the reporting period
□ Applicable √ Inapplicable
No such commitments in the reporting period.
IV. Predict the 2014 annual operating results
Warnings of possible loss or large-margin change of the accumulated net profit made during the period from the beginning of the
year to the end of the next reporting period compared with the same period of the last year according to prediction, as well as
explanations on the reasons
√ Applicable □ Inapplicable
Prediction: significant increase in the same direction
Type of the predicted data: interval data
Jan.-Dec. 2014 Jan.-Dec. 2013 Increase/decrease (%)
Estimated accumulative net
27,392 -- 30,000 22,827 Increase 20.00% -- 31.42%
profit (RMB Ten thousand)
Basic EPS (RMB Yuan/share) 0.2708 -- 0.2965 0.2256 Increase 20.00% -- 31.42%
Explanation about the Sales of the SPG Chuanqi Hill project and SPG Shanglin Garden project of the Company carried
predictions forward normally.
V. Securities investment
□ Applicable √ Inapplicable
The Company was not involved in any securities investment in the reporting period.
Notes of the shareholdings of other listed companies
□ Applicable √ Inapplicable
There was no such shareholding of the Company during the reporting period.
VI. Investments in derivatives
□Applicable √Inapplicable
The Company did not invest in any derivative in the reporting period.
VII. Researches, visits and interviews received in the reporting period
√Applicable □Inapplicable
Main discussion and
Time of reception Place of reception Way of reception Visitor type Visitor materials provided by the
Company
The operating situation of
Telephone the first half year of 2014
11 Jul. 2014 The office Individual Individual investor
Communication and the disclosure
appointment time of the
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Report for the Third Quarter of 2014 of Shenzhen Special Economic Zone Real Estate & Properties (Group) Co., Ltd.
semi-year report; had not
offer the written sources.
The sale situation of project
Telephone development of the first
19 Aug. 2014 The office Individual Individual investor
Communication half year of 2014; had not
offer the written sources.
The influence of Shenzhen
state-owned enterprise’s
reformation to the
Telephone
17 Sep. 2014 The office Individual Individual investor Company and the sales
Communication
progress of project,
development; had not
offered the written sources.
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Report for the Third Quarter of 2014 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 500,173,000.23 525,374,372.44
Settlement reserves
Intra-group lendings
Financial assets measured at fair
value and of which changes are
recorded into current gains and losses
Notes receivable
Accounts receivable 18,099,558.15 14,102,124.06
Accounts paid in advance 32,128,944.49 12,206,598.30
Premiums receivable
Reinsurance premiums receivable
Receivable reinsurance contract
reserves
Interest receivable
Dividend receivable 1,052,192.76 1,052,192.76
Other accounts receivable 62,192,307.56 54,672,501.81
Financial assets purchased under
agreements to resell
Inventories 3,140,611,748.89 2,967,935,589.04
Assets held for sale
Non-current assets due within 1 year 60,024,383.44 3,451,107.04
Other current assets
Total current assets 3,814,282,135.52 3,578,794,485.45
Non-current assets:
Loans by mandate and advances
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Report for the Third Quarter of 2014 of Shenzhen Special Economic Zone Real Estate & Properties (Group) Co., Ltd.
granted
Available-for-sale financial assets 12,000,000.00 12,000,000.00
Held-to-maturity investments
Long-term accounts receivable
Long-term equity investment 63,200,652.59 63,200,652.59
Investing property 451,140,242.58 466,314,091.90
Fixed assets 55,590,319.46 60,715,687.71
Construction in progress
Engineering materials
Disposal of fixed assets
Production biological assets
Oil-gas assets
Intangible assets 6,339,311.82 6,753,566.79
R&D expense
Goodwill
Long-term deferred expenses 367,707.73 528,352.21
Deferred income tax assets 26,792,460.02 26,792,460.02
Other non-current assets
Total of non-current assets 615,430,694.20 636,304,811.22
Total assets 4,429,712,829.72 4,215,099,296.67
Current liabilities:
Short-term borrowings 28,000,000.00 23,000,000.00
Borrowings from Central Bank
Customer bank deposits and due to
banks and other financial institutions
Intra-group borrowings
Financial liabilities measured at fair
value and of which changes are
recorded into current gains and losses
Notes payable
Accounts payable 288,731,004.05 389,345,271.46
Accounts received in advance 915,501,007.82 312,967,028.85
Financial assets sold for repurchase
Handling charges and commissions
payable
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Report for the Third Quarter of 2014 of Shenzhen Special Economic Zone Real Estate & Properties (Group) Co., Ltd.
Employee’s compensation payable 19,649,333.13 37,159,445.41
Tax payable 34,726,927.34 148,006,651.37
Interest payable 16,766,372.46 18,482,515.18
Dividend payable
Other accounts payable 388,998,958.39 394,687,837.29
Reinsurance premiums payable
Insurance contract reserves
Payables for acting trading of
securities
Payables for acting underwriting of
securities
Liabilities held for sale
Non-current liabilities due within 1
332,577,223.56 331,482,489.72
year
Other current liabilities
Total current liabilities 2,024,950,826.75 1,655,131,239.28
Non-current liabilities:
Long-term borrowings 602,100,246.02 814,213,536.85
Bonds payable
Long-term payables 11,220,732.10 10,749,885.53
Specific payables
Estimated liabilities
Deferred income tax liabilities
Other non-current liabilities
Total non-current liabilities 613,320,978.12 824,963,422.38
Total liabilities 2,638,271,804.87 2,480,094,661.66
Owners’ equity (or shareholders’
equity)
Paid-up capital (or share capital) 1,011,660,000.00 1,011,660,000.00
Capital reserves 978,244,910.11 978,244,858.10
Less: Treasury stock
Specific reserves
Surplus reserves 4,974,391.15 4,974,391.15
Provisions for general risks
Retained profits -83,881,356.31 -140,886,134.13
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Report for the Third Quarter of 2014 of Shenzhen Special Economic Zone Real Estate & Properties (Group) Co., Ltd.
Foreign exchange difference 8,926,380.37 9,354,020.21
Total equity attributable to owners of
1,919,924,325.32 1,863,347,135.33
the Company
Minority interests -128,483,300.47 -128,342,500.32
Total owners’ (or shareholders’) equity 1,791,441,024.85 1,735,004,635.01
Total liabilities and owners’ (or
4,429,712,829.72 4,215,099,296.67
shareholders’) equity
Legal representative: Zhou Jianguo Person-in-charge of the accounting work: Tang Xiaoping
Chief of the accounting division: Qiao Yanjun
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 261,575,670.48 362,953,152.47
Financial assets measured at fair
value and of which changes are
recorded into current gains and losses
Notes receivable
Accounts receivable 4,089,995.55 4,359,289.23
Accounts paid in advance 15,034,473.59
Interest receivable
Dividend receivable
Other accounts receivable 623,668,364.83 669,806,773.71
Inventories 1,603,444,982.06 1,830,603,734.72
Assets held for sale
Non-current assets due within 1 year
Other current assets
Total current assets 2,507,813,486.51 2,867,722,950.13
Non-current assets:
Available-for-sale financial assets 12,000,000.00 12,000,000.00
Held-to-maturity investments
Long-term accounts receivable
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Report for the Third Quarter of 2014 of Shenzhen Special Economic Zone Real Estate & Properties (Group) Co., Ltd.
Long-term equity investment 316,371,367.19 316,371,367.19
Investing property 394,003,367.70 407,900,089.95
Fixed assets 32,185,296.93 34,263,366.14
Construction in progress
Engineering materials
Disposal of fixed assets
Production biological assets
Oil-gas assets
Intangible assets 1,124,966.82 1,406,066.79
R&D expense
Goodwill
Long-term deferred expenses 90,528.30 132,925.95
Deferred income tax assets 3,230,636.28 3,230,636.28
Other non-current assets
Total of non-current assets 759,006,163.22 775,304,452.30
Total assets 3,266,819,649.73 3,643,027,402.43
Current liabilities:
Short-term borrowings
Financial liabilities measured at fair
value and of which changes are
recorded into current gains and losses
Notes payable
Accounts payable 263,098,534.72 393,715,301.47
Accounts received in advance 88,821,427.00 82,398,193.00
Employee’s compensation payable 6,626,084.91 11,614,479.62
Tax payable 38,525,293.47 149,643,182.39
Interest payable 16,535,277.94 18,094,154.07
Dividend payable
Other accounts payable 390,806,786.65 648,978,988.66
Liabilities held for sale
Non-current liabilities due within 1
332,577,223.56 331,482,489.72
year
Other current liabilities
Total current liabilities 1,136,990,628.25 1,635,926,788.93
Non-current liabilities:
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Report for the Third Quarter of 2014 of Shenzhen Special Economic Zone Real Estate & Properties (Group) Co., Ltd.
Long-term borrowings 369,110,893.79 581,224,184.62
Bonds payable
Long-term payables
Specific payables
Estimated liabilities
Deferred income tax liabilities
Other non-current liabilities
Total non-current liabilities 369,110,893.79 581,224,184.62
Total liabilities 1,506,101,522.04 2,217,150,973.55
Owners’ equity (or shareholders’
equity)
Paid-up capital (or share capital) 1,011,660,000.00 1,011,660,000.00
Capital reserves 978,244,910.11 978,244,858.10
Less: Treasury stock
Specific reserves
Surplus reserves
Provisions for general risks
Retained profits -229,186,782.42 -564,028,429.22
Foreign exchange difference
Total owners’ (or shareholders’) equity 1,760,718,127.69 1,425,876,428.88
Total liabilities and owners’ (or
3,266,819,649.73 3,643,027,402.43
shareholders’) equity
Legal representative: Zhou Jianguo Person-in-charge of the accounting work: Tang Xiaoping
Chief of the accounting division: Qiao Yanjun
3. Consolidated income statement for the reporting period
Prepared by Shenzhen Special Economic Zone Real Estate & Properties (Group) Co., Ltd.
Unit: RMB Yuan
Item Jul.-Sept. 2014 Jul.-Sept. 2013
I. Total operating revenues 294,764,542.65 154,286,475.60
Including: Sales income 294,764,542.65 154,286,475.60
Interest income
Premium income
Handling charge and
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Report for the Third Quarter of 2014 of Shenzhen Special Economic Zone Real Estate & Properties (Group) Co., Ltd.
commission income
II. Total operating cost 263,086,697.00 151,445,351.40
Including: Cost of sales 217,656,389.50 121,135,903.01
Interest expenses
Handling charge and
commission expenses
Surrenders
Net claims paid
Net amount withdrawn for the
insurance contract reserve
Expenditure on policy dividends
Reinsurance premium
Taxes and associate charges 20,896,532.69 10,752,288.56
Selling and distribution expenses 6,697,574.40 5,012,467.40
Administrative expenses 13,758,229.46 15,731,770.77
Financial expenses 4,077,970.95 -1,187,078.34
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) 31,677,845.65 2,841,124.20
Add: non-operating income 877,366.54 3,007,255.65
Less: non-operating expense 123,494.58 83,072.36
Including: loss from non-current
69,706.34 65,147.31
asset disposal
IV. Total profit (“-” means loss) 32,431,717.61 5,765,307.49
Less: Income tax expense 10,122,592.97 2,195,533.09
V. Net profit (“-” means loss) 22,309,124.64 3,569,774.40
Including: Net profit achieved by
combined parties before the
combinations
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Report for the Third Quarter of 2014 of Shenzhen Special Economic Zone Real Estate & Properties (Group) Co., Ltd.
Attributable to owners of the
22,272,401.09 3,528,324.44
Company
Minority shareholders’ income 36,723.55 41,449.96
VI. Earnings per share -- --
(I) Basic earnings per share 0.0220 0.0035
(II) Diluted earnings per share 0.0220 0.0035
Ⅶ. Other comprehensive incomes 12,633.15 -21,787.53
Including: Other comprehensive
incomes items that cannot be
52.01
reclassified as gains and losses in the
subsequent accounting periods
Other comprehensive incomes items
that will be reclassified as gains and
losses in the subsequent accounting 12,581.14 -21,787.53
periods as relevant requirements are
met
Ⅷ. Total comprehensive incomes 22,321,757.79 3,547,986.87
Attributable to owners of the
22,281,259.90 3,548,637.90
Company
Attributable to minority shareholders 40,497.89 -651.03
Legal representative: Zhou Jianguo Person-in-charge of the accounting work: Tang Xiaoping
Chief of the accounting division: Qiao Yanjun
4. Income statement of the Company for the reporting period
Prepared by Shenzhen Special Economic Zone Real Estate & Properties (Group) Co., Ltd.
Unit: RMB Yuan
Item Jul.-Sept. 2014 Jul.-Sept. 2013
I. Total sales 143,701,538.75 12,317,621.10
Less: cost of sales 86,278,882.95 5,313,615.63
Business taxes and surcharges 12,697,752.01 2,265,397.22
Distribution expenses 2,712,503.22 3,473,100.44
Administrative expenses 6,237,553.37 7,823,257.94
Financial costs 4,199,253.76 -961,752.67
Impairment loss
Add: gain/(loss) from change in fair
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Report for the Third Quarter of 2014 of Shenzhen Special Economic Zone Real Estate & Properties (Group) Co., Ltd.
value (“-” means loss)
Gain/(loss) from investment (“-”
270,609,041.96
means loss)
Including: income form investment
on associates and joint ventures
II. Business profit (“-” means loss) 302,184,635.40 -5,595,997.46
Add: non-business income 799,903.67 540,000.00
Less: non-business expense 20,000.00 20,000.00
Including: loss from non-current
0.00
asset disposal
III. Total profit (“-” means loss) 302,964,539.07 -5,075,997.46
Less: income tax expense 8,082,746.31
IV. Net profit (“-” means loss) 294,881,792.76 -5,075,997.46
V. Earnings per share -- --
(I) Basic earnings per share
(II) Diluted earnings per share
VI. Other comprehensive income 52.01 0.00
Including: Other comprehensive
incomes items that cannot be
52.01
reclassified as gains and losses in the
subsequent accounting periods
Other comprehensive incomes items
that will be reclassified as gains and
losses in the subsequent accounting
periods as relevant requirements are
met
VII. Total comprehensive income 294,881,844.77 -5,075,997.46
Legal representative: Zhou Jianguo Person-in-charge of the accounting work: Tang Xiaoping
Chief of the accounting division: Qiao Yanjun
5. Consolidated income statement for Jan.-Sept. 2014
Prepared by Shenzhen Special Economic Zone Real Estate & Properties (Group) Co., Ltd.
Unit: RMB Yuan
Item Jan.-Sept. 2014 Jan.-Sept. 2013
I. Total operating revenues 867,838,901.96 474,974,336.20
19
Report for the Third Quarter of 2014 of Shenzhen Special Economic Zone Real Estate & Properties (Group) Co., Ltd.
Including: Sales income 867,838,901.96 474,974,336.20
Interest income
Premium income
Handling charge and commission
income
II. Total operating cost 786,452,412.86 456,474,970.22
Including: Cost of sales 650,464,153.20 367,842,905.73
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 61,785,122.95 35,287,444.46
Selling and distribution expenses 20,943,800.69 11,892,013.30
Administrative expenses 39,354,958.66 43,214,713.06
Financial expenses 13,904,377.36 -1,762,106.33
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) 81,386,489.10 18,499,365.98
Add: non-operating income 1,374,647.24 6,532,696.24
Less: non-operating expense 243,681.86 178,836.68
Including: loss from non-current
70,996.24 71,659.29
asset disposal
IV. Total profit (“-” means loss) 82,517,454.48 24,853,225.54
Less: Income tax expense 25,455,598.08 8,215,293.36
20
Report for the Third Quarter of 2014 of Shenzhen Special Economic Zone Real Estate & Properties (Group) Co., Ltd.
V. Net profit (“-” means loss) 57,061,856.40 16,637,932.18
Including: Net profit achieved by
combined parties before the
combinations
Attributable to owners of the
57,004,777.82 16,578,664.81
Company
Minority shareholders’ income 57,078.58 59,267.37
VI. Earnings per share -- --
(I) Basic earnings per share 0.0563 0.0164
(II) Diluted earnings per share 0.0563 0.0164
Ⅶ. Other comprehensive incomes -625,466.56 1,766,105.83
Including: Other comprehensive
incomes items that cannot be
52.01
reclassified as gains and losses in the
subsequent accounting periods
Other comprehensive incomes items
that will be reclassified as gains and
losses in the subsequent accounting -625,518.57 1,766,105.83
periods as relevant requirements are
met
Ⅷ. Total comprehensive incomes 56,436,389.84 18,404,038.01
Attributable to owners of the
56,577,189.99 17,814,952.12
Company
Attributable to minority shareholders -140,800.15 589,085.89
Legal representative: Zhou Jianguo Person-in-charge of the accounting work: Tang Xiaoping
Chief of the accounting division: Qiao Yanjun
6. Income statement of the Company for Jan.-Sept. 2014
Prepared by Shenzhen Special Economic Zone Real Estate & Properties (Group) Co., Ltd.
Unit: RMB Yuan
Item Jan.-Sept. 2014 Jan.-Sept. 2013
I. Total sales 408,194,207.74 37,606,463.46
Less: cost of sales 247,382,934.77 16,369,664.47
Business taxes and surcharges 36,337,053.68 7,234,494.54
Distribution expenses 8,357,742.10 7,616,779.02
Administrative expenses 18,390,128.88 21,027,724.93
21
Report for the Third Quarter of 2014 of Shenzhen Special Economic Zone Real Estate & Properties (Group) Co., Ltd.
Financial costs 12,606,169.86 153,816.04
Impairment loss
Add: gain/(loss) from change in fair
value (“-” means loss)
Gain/(loss) from investment (“-”
270,609,041.96
means loss)
Including: income form investment
on associates and joint ventures
II. Business profit (“-” means loss) 355,729,220.41 -14,796,015.54
Add: non-business income 803,903.67 602,002.01
Less: non-business expense 59,000.00 45,644.48
Including: loss from non-current
4,644.48
asset disposal
III. Total profit (“-” means loss) 356,474,124.08 -14,239,658.01
Less: income tax expense 21,632,477.28
IV. Net profit (“-” means loss) 334,841,646.80 -14,239,658.01
V. Earnings per share -- --
(I) Basic earnings per share
(II) Diluted earnings per share
VI. Other comprehensive income 52.01
Including: Other comprehensive
incomes items that cannot be
52.01
reclassified as gains and losses in the
subsequent accounting periods
Other comprehensive incomes items
that will be reclassified as gains and
losses in the subsequent accounting
periods as relevant requirements are
met
VII. Total comprehensive income 334,841,698.81 -14,239,658.01
Legal representative: Zhou Jianguo Person-in-charge of the accounting work: Tang Xiaoping
Chief of the accounting division: Qiao Yanjun
7. Consolidated cash flow statement for Jan.-Sept. 2014
Prepared by Shenzhen Special Economic Zone Real Estate & Properties (Group) Co., Ltd.
Unit: RMB Yuan
22
Report for the Third Quarter of 2014 of Shenzhen Special Economic Zone Real Estate & Properties (Group) Co., Ltd.
Item Jan.-Sept. 2014 Jan.-Sept. 2013
I. Cash flows from operating activities:
Cash received from sale of
1,467,104,637.92 1,483,769,682.66
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
83,259,803.11 106,617,272.26
operating activities
Subtotal of cash inflows from operating
1,550,364,441.03 1,590,386,954.92
activities
Cash paid for goods and services 840,413,440.43 1,300,977,015.14
Net increase of customer lendings
and advances
Net increase of funds deposited in the
central bank and amount due from
banks
Cash for paying claims of the original
insurance contracts
Cash for paying interest, handling
23
Report for the Third Quarter of 2014 of Shenzhen Special Economic Zone Real Estate & Properties (Group) Co., Ltd.
charges and commissions
Cash for paying policy dividends
Cash paid to and for employees 98,540,292.61 94,193,239.01
Various taxes paid 265,840,422.79 98,805,138.07
Other cash payment relating to
107,776,929.70 108,723,806.95
operating activities
Subtotal of cash outflows from
1,312,571,085.53 1,602,699,199.17
operating activities
Net cash flows from operating activities 237,793,355.50 -12,312,244.25
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 7,436.00 7,524,637.46
long-term assets
Net cash received from disposal of
subsidiaries or other business units
Other cash received relating to
investing activities
Subtotal of cash inflows from investing
7,436.00 7,524,637.46
activities
Cash paid to acquire fixed assets,
intangible assets and other long-term 1,141,098.00 2,868,316.09
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
1,141,098.00 2,868,316.09
investing activities
Net cash flows from investing activities -1,133,662.00 4,656,321.37
III. Cash Flows from Financing
Activities:
Cash received from capital
24
Report for the Third Quarter of 2014 of Shenzhen Special Economic Zone Real Estate & Properties (Group) Co., Ltd.
contributions
Including: Cash received from
minority shareholder investments by
subsidiaries
Cash received from borrowings 25,000,000.00 292,989,352.23
Cash received from issuance of
bonds
Other cash received relating to
52.01 25,000,000.00
financing activities
Subtotal of cash inflows from financing
25,000,052.01 317,989,352.23
activities
Repayment of borrowings 231,018,556.99 370,316,902.32
Cash paid for interest expenses and
55,880,136.69 58,321,427.21
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
286,898,693.68 428,638,329.53
financing activities
Net cash flows from financing activities -261,898,641.67 -110,648,977.30
IV. Effect of foreign exchange rate
70,175.96 -311,776.15
changes on cash and cash equivalents
V. Net increase in cash and cash
-25,168,772.21 -118,616,676.33
equivalents
Add: Opening balance of cash and
519,284,372.44 463,713,702.77
cash equivalents
VI. Closing balance of cash and cash
494,115,600.23 345,097,026.44
equivalents
Legal representative: Zhou Jianguo Person-in-charge of the accounting work: Tang Xiaoping
Chief of the accounting division: Qiao Yanjun
8. Cash flow statement of the Company for Jan.-Sept. 2014
Prepared by Shenzhen Special Economic Zone Real Estate & Properties (Group) Co., Ltd.
Unit: RMB Yuan
Item Jan.-Sept. 2014 Jan.-Sept. 2013
25
Report for the Third Quarter of 2014 of Shenzhen Special Economic Zone Real Estate & Properties (Group) Co., Ltd.
I. Cash flows from operating activities:
Cash received from sale of
411,093,154.04 898,487,340.22
commodities and rendering of service
Tax refunds received
Other cash received relating to
99,596,412.49 85,583,854.13
operating activities
Subtotal of cash inflows from operating
510,689,566.53 984,071,194.35
activities
Cash paid for goods and services 149,793,173.90 468,167,038.09
Cash paid to and for employees 27,955,272.52 27,082,382.25
Various taxes paid 172,072,058.31 36,863,142.63
Other cash payment relating to
8,008,255.14 244,001,605.68
operating activities
Subtotal of cash outflows from
357,828,759.87 776,114,168.65
operating activities
Net cash flows from operating activities 152,860,806.66 207,957,025.70
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 816,296.00 2,067,052.09
assets
Cash paid for investment 30,000,000.00
Net cash paid to acquire subsidiaries
0.00
and other business units
Other cash payments relating to
0.00
investing activities
26
Report for the Third Quarter of 2014 of Shenzhen Special Economic Zone Real Estate & Properties (Group) Co., Ltd.
Subtotal of cash outflows from
816,296.00 32,067,052.09
investing activities
Net cash flows from investing activities -816,296.00 -32,067,052.09
III. Cash Flows from Financing
Activities:
Cash received from capital
contributions
Cash received from borrowings 240,000,000.00
Cash received from issuance of
bonds
Other cash received relating to
52.01 25,000,000.00
financing activities
Subtotal of cash inflows from financing
52.01 265,000,000.00
activities
Repayment of borrowings 211,018,556.99 344,316,902.32
Cash paid for interest expenses and
42,403,589.79 46,553,882.32
distribution of dividends or profit
Other cash payments relating to
financing activities
Sub-total of cash outflows from
253,422,146.78 390,870,784.64
financing activities
Net cash flows from financing activities -253,422,094.77 -125,870,784.64
IV. Effect of foreign exchange rate
102.12 -477.47
changes on cash and cash equivalents
V. Net increase in cash and cash
-101,377,481.99 50,018,711.50
equivalents
Add: Opening balance of cash and
362,953,152.47 190,825,250.83
cash equivalents
VI. Closing balance of cash and cash
261,575,670.48 240,843,962.33
equivalents
Legal representative: Zhou Jianguo Person-in-charge of the accounting work: Tang Xiaoping
Chief of the accounting division: Qiao Yanjun
II. Audit report
Is this report audited?
□ Yes √ No
27
Report for the Third Quarter of 2014 of Shenzhen Special Economic Zone Real Estate & Properties (Group) Co., Ltd.
This report is not audited.
28
