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深物业B:2024年第三季度报告(英文)2024-10-31  

ShenZhen Properties & Resources Development (Group) Ltd.                                             Third Quarterly Report 2024



           Stock Code: 000011, 200011               Stock Name: PRD, PRD-B                   Announcement No. 2024-48



        SHENZHEN PROPERTIES & RESOURCES DEVELOPMENT
                        (GROUP) LTD.

                                  THIRD QUARTERLY REPORT 2024

ShenZhen Properties & Resources Development (Group) Ltd. (hereinafter referred to as the
“Company”) and all the membe rs of the Company’s Board of Directors hereby guarantee
that the contents of this Report are true, accurate and complete and free of any
misrepresentations, misleading statements or material omissions.

Important Notes:
1. The Board of Directors, the Supervisory Committee as well as the directors, supervisors and senior management of the Company
hereby guarantee that the contents of this Report are true, accurate and complete and free of any misrepresentations, misleading
statements or material omissions, and collectively and individually accept legal responsibility for such contents.

2. The Company’s legal representative, head of financial affairs, and head of the financial department (equivalent to financial
manager) hereby guarantee that the financial statements carried in this Report are true, accurate and complete.

3. Indicate whether the financial statements in this Report have been audited by an independent auditor.
□Yes  No

I Key Financial Information

(I) Key Accounting Data and Financial Indicators

Indicate whether there is any retrospectively restated datum in the table below.
□Yes  No

                                          Q3 2024               YoY change (%)               Q1-Q3 2024              YoY change (%)
 Operating revenue (RM B)                 461,778,206.82                     -11.51%          1,317,806,652.07              -45.71%
 Net profit attributable to the
 listed company’s shareholders             -5,631,440.84                   -153.90%               3,581,016.97             -98.45%
 (RM B)
 Net profit attributable to the
 listed company’s shareholders
 before exceptional gains and               -2,115,855.29                   -118.82%               7,623,172.68             -96.72%
 losses (RM B)
 Net cash generated from/used
 in operating activities (RM B)              —                        —                     -1,752,947,755.94             -86.56%
 Basic earnings per share
 (RM B/share)                                     -0.0094                   -153.90%                       0.0060           -98.45%
 Diluted earnings per share
 (RM B/share)                                     -0.0094                   -153.90%                       0.0060           -98.45%
 Weighted average return on
 equity (%)                                        -0.13%                     -0.37%                       0.08%             -5.14%
                                    30 September 2024          31 December 2023                       YoY change (%)
 Total assets (RM B)                   16,116,648,356.93         16,988,062,068.09                                           -5.13%
 Equity attributable to the
 listed company’s shareholders         4,478,948,594.89          4,661,810,328.75                                           -3.92%


                                                                                                                                      1
ShenZhen Properties & Resources Development (Group) Ltd.                                             Third Quarterly Report 2024


 (RM B)




(II) Exceptional Gains and Losses

 Applicable □ Not applicable

                                                                                                                      Unit: RM B
               Item                            Q3 2024                        Q1-Q3 2024                          Note
 Gain or loss on disposal of
 non-current assets (inclusive
                                                         -4,662.27                       21,393.70
 of impairment allowance
 write-offs)
 Government              grants
 recognised in profit or loss
 (exclusive of those that are
 closely    related   to    the
 Company's normal business
                                                                                                      One-time government grants
 operations and given in                                100,000.00                      344,448.00
                                                                                                      received
 accordance with defined
 criteria and in compliance
 with government policies, and
 have a continuing impact on
 the Company's profit or loss)
 Non-operating income and
                                                    -4,331,440.37                    -4,288,762.26    Payment of compensation
 expense other than the above
 Other items that meet the                                                                            Adjustment of the VAT
 definition of exceptional                               19,035.81                     -834,439.22    deduction accrued in the
 gain/loss                                                                                            previous year
 Less: Income tax effects                             -707,263.75                      -871,750.65
        Non-controlling
 interests effects (net of tax)                           5,782.48                      156,546.58
 Total                                              -3,515,585.56                    -4,042,155.71                    --
Other items that meet the definition of exceptional gain/loss:
 Applicable □ Not applicable

Since the VAT deduction preferential policy is valid until 31 December 2023, and this benefit does not have a continuing impact
on the Company’s profit or loss, the adjustment to this matter in 2024 based on the actual number of declaration is included in
exceptional gain/loss.

Explanation of why the Company reclassifies as recurrent an exceptional gain/loss item listed in the Explanatory Announcement
No. 1 on Information Disclosure for Companies Offering Their Securities to the Public—Exceptional Gain/Loss Items:
□Applicable  Not applicable
No such cases in the Reporting Period.


(III) Changes in Key Financial Statement Line Items and Explanation of why

 Applicable □ Not applicable
   Balance
                                                            Change
  sheet line   30 September 2024       1 January 2024                                  M ain reasons for the change
                                                             (%)
    items
M onetary                                                              Repayment of maturing borrowings, payment of dividends and
                  1,170,874,731.75       2,748,798,476.72    -57.40%
assets                                                                 taxes


                                                                                                                                    2
ShenZhen Properties & Resources Development (Group) Ltd.                                        Third Quarterly Report 2024


Construction                                                     Expenditures related to the renovation and upgrading project of
                   20,276,462.77                0.00   100.00%
in progress                                                      the ITC M all
Short-term        140,043,375.00     230,915,000.00    -39.35% Repayment of short-term borrowings
borrowings
Accounts
                  326,460,550.08     662,869,059.59    -50.75% Decreased payables for engineering
payable
Advances
from                  432,097.72        2,265,223.56   -80.92% Decreased rental advances received
customers
    Income
                                                       Change
  statemnet     Q1~Q3 2024          Q1~Q3 2023                                     M ain reasons for the change
                                                        (%)
  line items
Operating
                1,317,806,652.07    2,427,326,213.70   -45.71% Decreased real estate income carry -over in the current period
revenue

Cost of sales   1,051,029,215.22    1,747,100,763.88   -39.84% Decreased real estate cost carry -over in the current period

Taxes and                                                        Higher provisions for land value added tax in the same period of
                   17,723,090.04      87,090,867.91    -79.65%
levies                                                           last year
Selling
                   14,719,330.07      25,371,890.23    -41.99% Decreased payment of sales agency fees in the current period
expense
Finance
                   25,895,734.20      36,018,607.75    -28.10% Increased interest income in the current period
costs
Other
                    3,084,106.20        9,328,789.60   -66.94% Decreased VAT deduction in the current period
income
Return on                                                      Decreased return on joint venture investments in the current
                       54,220.87        2,711,324.32   -98.00% period
investment
Non-
operating           5,081,894.89        3,590,801.08    41.53% Increased payment of compensation in the current period
expense
Income tax
                    1,220,320.38      85,692,317.44    -98.58% Decreased gross profit in the current period
expense
Other
comprehensi
ve income -
Changes in
the fair                                                         Changes in the fair value of investments in other equity
                     -187,279.28        -309,668.96     39.52%
value of                                                         instruments
investments
in other
equity
instruments
Other
comprehensi
ve income -
Differences
arising from
the
                     -309,994.85        1,890,614.71 -116.40% Exchange rate fluctuations
translation
of foreign
currency-
denominated
financial
statements
  Cash flow
                                                       Change
  statement     Q1~Q3 2024          Q1~Q3 2023                                     M ain reasons for the change
                                                        (%)
  line items
Net cash
generated
                                                                 Decreased cash inflows and increased payment of taxes in the
from/used in    -1,752,947,755.94   -939,639,052.92    -86.56%
                                                                 current period
operating
activities
Net cash                                                         Decreased new bank loans and increased repayment of maturing
                  189,441,247.34     431,226,026.33    -56.07%
generated                                                        borrowings in the current period


                                                                                                                                   3
ShenZhen Properties & Resources Development (Group) Ltd.                                               Third Quarterly Report 2024


from/used in
financing
activities


II Shareholder Information

(I) Numbers of Ordinary Shareholders and Preference Shareholders with Resumed Voting Rights as well
as Holdings of Top 10 Shareholders

                                                                                                                          Unit: share
 Number of ordinary shareholders at                       Number of preferred shareholders with resumed
                                                40,688                                                                               0
 the period-end                                           voting rights at the period-end (if any)
                                    Top 10 shareholders (exclusive of shares lent in refinancing)
                            Nature of     Shareholdin       Total shares        Restricted          Shares in pledge, marked or frozen
  Name of shareholder
                           shareholder    g percentage         held             shares held             Status             Shares
 Shenzhen Investment      State-owned
 Holdings Corporation     corporation          50.87%     303,144,937.00           1,733,626             N/A                         0
 Shenzhen        State-   Domestic
 Owned           Equity   non-state-
                                                6.38%       38,037,890.00                0.00            N/A                         0
 Operation          and   owned legal
 M anagement Co., Ltd.    person
 China Orient Asset       State-owned
                                                2.77%       16,491,402.00                0.00            N/A                         0
 M anagement Co., Ltd.    legal person
 Industrial         and
 Commercial Bank of
 China Limited -
 Southern        China
 Securities Full Index    Other                 0.50%        2,996,834.00                0.00            N/A                         0
 Real Estate Trading
 Open-ended       Index
 Securities Investment
 Fund
 Hong Kong Securities
                          Foreign
 Clearing    Company                            0.43%        2,538,542.00                0.00            N/A                         0
                          legal person
 Ltd.
                          Domestic
 Yang Yaochu              natural               0.33%        1,970,484.00                0.00            N/A                         0
                          person
                          Domestic
 Duan Shaoteng            natural               0.30%        1,760,565.00                0.00            N/A                         0
                          person
                          Domestic
 Li Xinyi                 natural               0.25%        1,500,000.00                0.00            N/A                         0
                          person
                          Domestic
 M ai Furong              natural               0.21%        1,248,596.00                0.00            N/A                         0
                          person
 China Universal Asset
 M anagement Co.,
                          Other                  0.21%        1,229,200.00                0.00         N/A                        0
 Ltd.-Social Security
 Fund 1103 Portfolio
              Top 10 unrestricted shareholders (exclusive of shares lent in refinancing and locked shares of executives)
                                                                                                     Shares by class and number
         Name of shareholder                            Unrestricted shares held
                                                                                                       Class             Shares
                                                                                                      RM B-
 Shenzhen      Investment     Holdings
                                                                                301,411,311.00     denominated       301,411,311.00
 Corporation
                                                                                                  ordinary stock
 Shenzhen       State-Owned      Equity                                          38,037,890.00        RM B-           38,037,890.00

                                                                                                                                         4
ShenZhen Properties & Resources Development (Group) Ltd.                                           Third Quarterly Report 2024


 Operation and M anagement Co., Ltd.                                                             denominated
                                                                                                ordinary stock
                                                                                                    RM B-
 China Orient Asset M anagement Co.,
                                                                               16,491,402.00     denominated        16,491,402.00
 Ltd.
                                                                                                ordinary stock
 Industrial and Commercial Bank of
 China Limited - Southern China                                                                    RM B-
 Securities Full Index Real Estate                                              2,996,834.00     denominated          2,996,834.00
 Trading Open-ended Index Securities                                                            ordinary stock
 Investment Fund
                                                                                                      RM B-
 Hong Kong Securities          Clearing
                                                                                2,538,542.00      denominated        2,538,542.00
 Company Ltd.
                                                                                                 ordinary stock
                                                                                                  Domestically
 Yang Yaochu                                                                     1,970,484.00     listed foreign     1,970,484.00
                                                                                                       stock
                                                                                                      RM B-
 Duan Shaoteng                                                                   1,760,565.00     denominated        1,760,565.00
                                                                                                 ordinary stock
                                                                                                      RM B-
 Li Xinyi                                                                        1,500,000.00     denominated        1,500,000.00
                                                                                                 ordinary stock
                                                                                                  Domestically
 M ai Furong                                                                     1,248,596.00     listed foreign     1,248,596.00
                                                                                                       stock
 China Universal Asset M anagement                                                                    RM B-
 Co., Ltd.-Social Security Fund 1103                                             1,229,200.00     denominated        1,229,200.00
 Portfolio                                                                                       ordinary stock
                                                          The first largest shareholder, Shenzhen Investment Holding Corporation,
                                                          is the actual controlling shareholder of the Company and Shenzhen
 Related or acting-in-concert parties among the
                                                          State-Owned Equity Operation and M anagement Co., Ltd. And the
 shareholders above
                                                          Company does not know whether there are related parties or acting-in-
                                                          concert parties among the other 8 shareholders.
                                                          At the end of the Reporting Period, among above shareholders, Duan
 Top 10 ordinary shareholders involved in securities      Shaoteng held 1,760,565 shares in the Company via his credit securities
 margin trading (if any)
                                                          account.
5% or greater shareholders, top 10 shareholders and Top 10 unrestricted shareholders involved in refinancing shares lending
□Applicable  Not applicable
Changes in top 10 shareholders and top 10 unrestricted shareholders due to refinancing shares lending/return compared with th e
prior period
□Applicable  Not applicable


(II) Number of Preference Shareholders and Shareholdings of Top 10 of Them

□Applicable  Not applicable


III Other Significant Events

 Applicable □ Not applicable


(I) Matters concerning the application of the controlling shareholder of the Company to change the commitment to avoid
horizontal competition


During the Reporting Period, the Company received the Letter on Changing the Commitment to Avoid Horizontal Competition
from its controlling shareholder Shenzhen Investment Holdings Co., Ltd. (“SIHC”), which applied for a change of the
commitment to avoid horizontal competition. This matter was reviewed and approved at the 29 th M eeting of the 10th Board of


                                                                                                                                     5
ShenZhen Properties & Resources Development (Group) Ltd.                                            Third Quarterly Report 2024


Directors and the 24th M eeting of the 10th Supervisory Committee on 30 September 2024, and voted on and approved at the 2 nd
Extraordinary General M eeting of 2024. For more details, please refer to the Announcement on the Application of the Controlling
Shareholder of the Company to Change the Commitment to Avoid Horizontal Competition (Announcement No.: 2024-40) and the
Announcement on Resolutions of the 2nd Extraordinary General Meeting of 2024 (Announcement No.: 2024-47) disclosed by the
Company respectively on 30 September 2024 and 19 October 2024.


(II) Matters concerning the change of independent directors of the Company


During the Reporting Period, M r. M ei Yonghong, an independent director of the Company, having served as an independent
director of the Company for six consecutive years, applied for resignation as an independent director and other functions in the
relevant special committee of the Board of Directors in accordance with the Measures for the Administration of Independent
Directors of Listed Companies and other laws and regulations and the Articles of Association of the Company in respect of the
term service of independent directors, and will no longer serve in any position of the Company after his resignation. In accordance
with the provisions of the Articles of Association of the Company, the Company held the 29 th M eeting of the 10th Board of
Directors and the 2nd Extraordinary General M eeting of 2024 respectively on 30 September 2024 and 18 October 2024, to elect M r.
Song Shaohua as an independent director of the Company, with a term of office commencing from the date of the election at the
general meeting of the Company to the date of expiry of the term of office of the 10 th Board of Directors of the Company. For
more details, please refer to the Announcement on the Proposed Appointment of Independent Director of the Company
(Announcement No.: 2024-41) and the Announcement on Resolutions of the 2nd Extraordinary General Meeting of 2024
(Announcement No.: 2024-47) disclosed by the Company on Cninfo respectively on 30 September 2024 and 19 October 2024.


IV Quarterly Financial Statements

(I) Financial Statements

1. Consolidated Balance Sheet

Prepared by ShenZhen Properties & Resources Development (Group) Ltd.

                                                                                                                         Unit: RM B
                     Item                                30 September 2024                              1 January 2024
 Current assets:
  M onetary assets                                                   1,170,874,731.75                            2,748,798,476.72
  Settlement reserve
  Loans to other banks and financial
 institutions
  Held-for-trading financial assets
  Derivative financial assets
  Notes receivable                                                               0.00                                        0.00
  Accounts receivable                                                  573,078,564.98                              502,806,453.88
  Receivables financing
  Prepayments                                                           10,550,677.00                               11,983,086.35
  Premiums receivable
  Reinsurance receivables
  Receivable reinsurance contract reserve
  Other receivables                                                    610,702,450.97                              624,394,372.82
    Including: Interest receivable                                               0.00                                        0.00
               Dividends receivable                                              0.00                                        0.00
  Financial assets purchased under resale
 agreements


                                                                                                                                      6
ShenZhen Properties & Resources Development (Group) Ltd.                       Third Quarterly Report 2024


  Inventories                                              11,731,778,948.91              11,098,209,095.74
   Including: Data resource
  Contract assets                                                679,507.91                      844,485.57
  Assets held for sale
  Current portion of non-current assets
  Other current assets                                        153,487,198.41                 127,774,825.51
 Total current assets                                      14,251,152,079.93              15,114,810,796.59
 Non-current assets:
  Loans and advances to customers
  Debt investments
  Other debt investments
  Long-term receivables                                                0.00                            0.00
  Long-term equity investments                                84,018,516.40                   84,057,750.55
  Investments in other equity instruments                        453,691.24                      636,926.20
  Other non-current financial assets
  Investment property                                        342,288,348.42                  386,810,800.47
  Fixed assets                                                55,421,604.23                   66,436,408.90
  Construction in progress                                    20,276,462.77
  Productive living assets
  Oil and gas assets
  Right-of-use assets                                         17,708,439.82                   23,516,796.22
  Intangible assets                                              663,400.98                      889,801.14
   Including: Data resource
  Development costs
    Including: Data resource
  Goodwill                                                      9,446,847.38                   9,446,847.38
  Long-term prepaid expense                                    23,862,981.50                  21,510,397.88
  Deferred income tax assets                                1,307,238,731.54               1,276,440,386.83
  Other non-current assets                                      4,117,252.72                   3,505,155.93
 Total non-current assets                                   1,865,496,277.00               1,873,251,271.50
 Total assets                                              16,116,648,356.93              16,988,062,068.09
 Current liabilities:
  Short-term borrowings                                      140,043,375.00                  230,915,000.00
  Borrowings from the central bank
  Loans from other banks and financial
 institutions
  Held-for-trading financial liabilities
  Derivative financial liabilities
  Notes payable
  Accounts payable                                           326,460,550.08                  662,869,059.59
  Advances from customers                                        432,097.72                    2,265,223.56
  Contract liabilities                                       848,861,366.40                  820,424,953.42
  Financial assets sold under repurchase
 agreements
  Customer deposits and deposits from
 other banks and financial institutions
  Payables for acting trading of securities
  Payables for underwriting of securities
  Employee benefits payable                                   176,800,027.17                 218,786,111.78
  Taxes and levies payable                                  3,141,139,402.05               4,026,957,347.94
  Other payables                                            1,231,829,931.53               1,217,303,294.25
    Including: Interest payable                                         0.00                           0.00
               Dividends payable                               12,202,676.04                  12,202,676.04
  Fees and commissions payable
  Reinsurance payables
  Liabilities directly associated with
 assets held for sale

                                                                                                              7
ShenZhen Properties & Resources Development (Group) Ltd.                          Third Quarterly Report 2024


   Current portion of non-current
 liabilities                                                 3,463,584,975.13                   3,092,324,853.07
   Other current liabilities                                    70,650,676.87                      68,373,661.13
 Total current liabilities                                   9,399,802,401.95                  10,340,219,504.74
 Non-current liabilities:
   Insurance contract reserve
   Long-term borrowings                                      1,664,017,417.81                   1,399,889,274.47
   Bonds payable
    Including: Preference shares
                 Perpetual bonds
   Lease liabilities                                            11,579,700.91                      10,571,092.27
   Long-term payables                                          399,799,725.00                     400,105,655.56
   Long-term employee benefits payable                                   0.00                               0.00
   Provisions                                                      650,000.00                         650,000.00
   Deferred income                                                       0.00                               0.00
   Deferred income tax liabilities                               4,223,623.41                       5,862,279.70
   Other non-current liabilities                               125,794,473.92                     127,039,225.54
 Total non-current liabilities                               2,206,064,941.05                   1,944,117,527.54
 Total liabilities                                          11,605,867,343.00                  12,284,337,032.28
 Owners’ equity:
   Share capital                                              595,979,092.00                      595,979,092.00
   Other equity instruments
    Including: Preference shares
                 Perpetual bonds
   Capital reserves                                            80,488,045.38                        80,488,045.38
   Less: Treasury stock                                                 0.00                                 0.00
   Other comprehensive income                                  -3,849,612.01                        -3,352,337.88
   Specific reserve
   Surplus reserves                                           116,108,727.08                      116,108,727.08
   General reserve
   Retained earnings                                         3,690,222,342.44                   3,872,586,802.17
 Total equity attributable to owners of the
 Company as the parent                                       4,478,948,594.89                   4,661,810,328.75
   Non-controlling interests                                    31,832,419.04                      41,914,707.06
 Total owners’ equity                                       4,510,781,013.93                   4,703,725,035.81
 Total liabilities and owners’ equity                      16,116,648,356.93                  16,988,062,068.09


Legal representative: Liu Shengxiang                                            Head of financial affairs: Cai Lili
Head of the financial department: Cai Kelin


2. Consolidated Income Statement for Q1~Q3

                                                                                                       Unit: RM B
                   Item                               Q1~Q3 2024                       Q1~Q3 2023
 1. Revenues                                                 1,317,806,652.07                    2,427,326,213.70
   Including: Operating revenue                              1,317,806,652.07                    2,427,326,213.70
              Interest income
               Insurance premium income
               Fee and commission
 income
 2. Costs and expenses                                       1,303,226,108.88                    2,110,887,625.76
   Including: Cost of sales                                  1,051,029,215.22                    1,747,100,763.88
               Interest expense
               Fee and commission
 expense


                                                                                                                      8
ShenZhen Properties & Resources Development (Group) Ltd.                    Third Quarterly Report 2024


              Surrenders
              Net insurance claims paid
              Net amount provided as
 insurance contract reserve
              Expenditure on policy
 dividends
              Reinsurance premium
 expense
              Taxes and levies                              17,723,090.04                   87,090,867.91
                Selling expense                             14,719,330.07                   25,371,890.23
                Administrative expense                     189,973,110.10                  211,898,457.07
                Development costs                            3,885,629.25                    3,407,038.92
                Finance costs                               25,895,734.20                   36,018,607.75
                  Including: Interest
 expense                                                    51,686,194.36                   45,973,455.32
                                Interest
 income                                                     28,730,546.02                   11,814,704.84
 Add: Other income                                           3,084,106.20                    9,328,789.60
       Return on investment (“-” for loss)                    54,220.87                    2,711,324.32
           Including: Share of profit or loss
 of joint ventures and associates                               54,220.87                    2,711,324.32
            Income from the derecognition
 of financial assets at amortized cost (“-”
 for loss)
        Exchange gain (“-” for loss)
        Net gain on exposure hedges (“-”
 for loss)
       Gain on changes in fair value (“-”
 for loss)
        Credit impairment loss (“-” for
 loss)                                                     -17,886,806.82                  -13,788,622.51
        Asset impairment loss (“-” for
 loss)                                                          -5,858.65                        2,045.93
        Asset disposal income (“-” for
 loss)                                                          21,393.70                      793,144.88
 3. Operating profit (“-” for loss)                         -152,401.51                  315,485,270.16
 Add: Non-operating income                                     740,343.21                      907,106.27
 Less: Non-operating expense                                 5,081,894.89                    3,590,801.08
 4. Gross profit (“-” for loss)                           -4,493,953.19                  312,801,575.35
 Less: Income tax expense                                    1,220,320.38                   85,692,317.44
 5. Net profit (“-” for net loss)                         -5,714,273.57                  227,109,257.91
  5.1 By operating continuity
    5.1.1 Net profit from continuing
 operations (“-” for net loss)                            -5,714,273.59                  227,047,902.08
    5.1.2 Net profit from discontinued
 operations (“-” for net loss)                                     0.00                       61,355.83
  5.2 By ownership
       5.2.1 Net profit attributable to
 shareholders of the Company as the                          3,581,016.97                  231,351,500.28
 parent (“-” for net loss)
       5.2.2 Net profit attributable to non-
 controlling interests (“-” for net loss)                 -9,295,290.54                   -4,242,242.37
 6. Other comprehensive income, net of
 tax                                                          -497,274.13                    1,580,945.75
    Attributable to owners of the
 Company as the parent                                        -497,274.13                    1,580,945.75
       6.1 Items that will not be
 reclassified to profit or loss                               -187,279.28                     -309,668.96
          6.1.1 Changes caused by
 remeasurements on defined benefit                                   0.00                            0.00
 schemes


                                                                                                            9
ShenZhen Properties & Resources Development (Group) Ltd.                                              Third Quarterly Report 2024


          6.1.2 Other comprehensive
 income that will not be reclassified to                                           0.00                                            0.00
 profit or loss under the equity method
          6.1.3 Changes in the fair value of
 investments in other equity instruments                                   -187,279.28                                     -309,668.96
          6.1.4 Changes in the fair value
 arising from changes in own credit risk                                           0.00                                            0.00
          6.1.5 Other                                                              0.00                                            0.00
       6.2 Items that will be reclassified to
 profit or loss                                                            -309,994.85                                    1,890,614.71
          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
 other debt investments
          6.2.3 Other comprehensive
 income arising from the reclassification
 of financial assets
          6.2.4 Credit impairment
 allowance for other debt investments
          6.2.5 Reserve for cash flow
 hedges
          6.2.6 Differences arising from the
 translation of foreign currency-                                          -309,994.85                                    1,890,614.71
 denominated financial statements
          6.2.7 Other
    Attributable to non-controlling
 interests                                                                         0.00                                            0.00
 7. Total comprehensive income                                           -6,211,547.70                                 228,690,203.66
    7.1 Attributable to owners of the
 Company as the parent                                                    3,083,742.84                                 232,932,446.03
    7.2 Attributable to non-controlling
 interests                                                               -9,295,290.54                                   -4,242,242.37
 8. Earnings per share
   8.1 Basic earnings per share                                                 0.0060                                           0.3882
   8.2 Diluted earnings per share                                               0.0060                                           0.3882
Where business combinations under common control occurred in the current period, the net profit achieved by the acquirees before
the combinations was RM B       , with the amount for the same period of last year being RM B   .


Legal representative: Liu Shengxiang                                                                Head of financial affairs: Cai Lili
Head of the financial department: Cai Kelin


3. Consolidated Cash Flow Statement for Q1~Q3

                                                                                                                           Unit: RM B
                    Item                                    Q1~Q3 2024                                     Q1~Q3 2023
 1. Cash flows from operating activities:
   Proceeds from sale of commodities and
 rendering of services                                                1,504,896,063.82                                1,722,297,276.09
   Net increase in customer deposits and
 deposits from other banks and financial
 institutions
   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


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ShenZhen Properties & Resources Development (Group) Ltd.                       Third Quarterly Report 2024


   Net increase in deposits and
 investments of policy holders
   Interest, fees and commissions received
   Net increase in loans from other banks
 and financial institutions
   Net increase in proceeds from
 repurchase transactions
   Net proceeds from acting trading of
 securities
   Tax and levy rebates                                       24,277,962.38                    14,416,704.33
   Cash generated from other operating
 activities                                                  383,809,134.20                   240,994,365.07
 Subtotal of cash generated from
 operating activities                                      1,912,983,160.40                  1,977,708,345.49
   Payments for commodities and services                   1,645,567,147.64                  1,746,506,968.56
   Net increase in loans and advances to
 customers
   Net increase in deposits in the central
 bank and other banks and financial
 institutions
   Payments for claims on original
 insurance contracts
   Net increase in loans to other banks and
 financial institutions
   Interest, fees and commissions paid
  Policy dividends paid
  Cash paid to and for employees                             724,656,482.09                   723,393,519.67
  Taxes and levies paid                                    1,010,315,431.85                   224,226,839.66
  Cash used in other operating activities                    285,391,854.76                   223,220,070.52
 Subtotal of cash used in operating
 activities                                                3,665,930,916.34                  2,917,347,398.41
 Net cash generated from/used in
 operating activities                                      -1,752,947,755.94                 -939,639,052.92
 2. Cash flows from investing activities:
  Proceeds from disinvestment
   Return on investment                                           93,455.02                         63,120.00
   Net proceeds from the disposal of fixed
 assets, intangible assets and other long-                        39,273.50                         78,255.52
 lived assets
   Net proceeds from the disposal of
 subsidiaries and other business units
   Cash generated from other investing
 activities
 Subtotal of cash generated from
 investing activities                                            132,728.52                       141,375.52
   Payments for the acquisition of fixed
 assets, intangible assets and other long-                     7,083,504.38                      4,084,842.48
 lived assets
   Payments for investments                                            0.00                      1,816,919.56
  Net increase in pledged loans granted
  Net payments for the acquisition of
 subsidiaries and other business units
  Cash used in other investing activities
 Subtotal of cash used in investing
 activities                                                    7,083,504.38                      5,901,762.04
 Net cash generated from/used in
 investing activities                                          -6,950,775.86                    -5,760,386.52
 3. Cash flows from financing activities:
   Capital contributions received                                      0.00                              0.00
      Including: Capital contributions by                              0.00                              0.00


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ShenZhen Properties & Resources Development (Group) Ltd.                                          Third Quarterly Report 2024


 non-controlling interests to subsidiaries
    Borrowings received                                                  773,984,805.34                           841,843,775.18
    Cash generated from other financing
 activities
 Subtotal of cash generated from
 financing activities                                                    773,984,805.34                           841,843,775.18
   Repayment of borrowings                                               222,133,410.08                            32,326,662.00
   Interest and dividends paid                                           334,438,123.69                           357,864,492.62
       Including: Dividends paid by
 subsidiaries to non-controlling interests                                   245,000.00                               245,000.00
   Cash used in other financing activities                                27,972,024.23                            20,426,594.23
 Subtotal of cash used in financing
 activities                                                              584,543,558.00                           410,617,748.85
 Net cash generated from/used in
 financing activities                                                    189,441,247.34                           431,226,026.33
 4. Effect of foreign exchange rates
 changes on cash and cash equivalents                                       -550,567.84                             1,642,658.54
 5. Net increase in cash and cash
 equivalents                                                           -1,571,007,852.30                         -512,530,754.57
 Add: Cash and cash equivalents,
 beginning of the period                                               2,733,139,135.12                         1,509,693,857.48
 6. Cash and cash equivalents, end of the
 period                                                                1,162,131,282.82                           997,163,102.91


(II) Adjustments to Financial Statement Items at the Beginning of the Year of the First Implementation
of the New Accounting Standards Implemented since 2024

□ 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.


                                                                                                              Board of Directors
                                                                       Shenzhen Properties & Resources Development (Group) Ltd.
                                                                                                               31 October 2024




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