Report for the Third Quarter of 2015 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 2015
2015-027
October 2015
1
Report for the Third Quarter of 2015 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.
All directors attended the board session for reviewing this report.
Zhou Jianguo, company principal, Chen Maozheng, GM, 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 2015 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. 2015 31 Dec. 2014 Increase/decrease (%)
Total assets (RMB Yuan) 4,522,434,063.15 4,375,098,314.05 3.37%
Net assets attributable to
shareholders of the Company 2,261,764,419.08 2,161,537,401.78 4.64%
(RMB Yuan)
YoY increase/decrease YoY increase/decrease
Jul.-Sept. 2015 Jan.-Sept. 2015
(%) (%)
Operating revenues (RMB Yuan) 460,650,552.32 56.28% 1,608,203,326.28 85.31%
Net profit attributable to
shareholders of the Company 47,584,448.58 113.65% 233,992,272.96 310.48%
(RMB Yuan)
Net profit attributable to
shareholders of the Company after
48,001,073.77 121.08% 234,129,230.67 316.92%
extraordinary gains and losses
(RMB Yuan)
Net cash flows from operating
-- -- 803,676,523.78 237.97%
activities (RMB Yuan)
Basic EPS (RMB Yuan/share) 0.0470 113.64% 0.2313 310.83%
Diluted EPS (RMB Yuan/share) 0.0470 113.64% 0.2313 310.83%
Weighted average ROE 2.15% 0.97% 10.58% 7.57%
Items and amounts of extraordinary gains and losses
√ Applicable □ Inapplicable
Unit: RMB Yuan
Item Amount as of Jan.-Sept. 2015 Note
Gains/losses on the disposal of non-current assets (including the
-10,609.22
offset part of asset impairment provisions)
Mainly was the penalty and the
Other non-operating income and expenses other than the above -105,839.09
overdue fine expenditures
Less: Income tax effects 20,509.40
Total -136,957.71 --
Explain the reasons if the Company classifies an item as an extraordinary gain/loss according to the definition in the Explanatory
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Report for the Third Quarter of 2015 of Shenzhen Special Economic Zone Real Estate & Properties (Group) Co., Ltd.
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 in the reporting period.
II. Total number of shareholders at the period-end and shareholdings of top 10 shareholders
1. Total number of common shareholders at the period-end and shareholdings of top 10 common
shareholders
Unit: share
Total number of common
82,362
shareholders at the period-end
Shareholdings of top 10 common shareholders
Number of Pledged or frozen shares
Name of Nature of Shareholding Number of shares
restricted shares
shareholder shareholder percentage (%) held Status of shares Number of shares
held
Shenzhen
State-owned legal
Investment 63.55% 642,884,262 0
person
Holdings Ltd.
Domestic natural
Tang Yidan 0.82% 8,249,055 0
person
Domestic natural
Lu Zhigao 0.43% 4,372,649 0
person
Century Domestic
Securities Co., non-state-owned 0.38% 3,822,900 0
Ltd. legal person
China Securities
Finance State-owned legal
0.34% 3,477,900 0
Corporation person
Limited
Domestic natural
He Qiao 0.18% 1,849,200 0
person
ICBE - Southern
Innovation
Economy Domestic
Flexible non-state-owned 0.14% 1,418,200 0
Configuration legal person
Hybrid Securities
Investment Fund
GUOTAI Foreign 0.12% 1,256,733 0
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Report for the Third Quarter of 2015 of Shenzhen Special Economic Zone Real Estate & Properties (Group) Co., Ltd.
JUNAN
SECURITIES(H
corporation
ONGKONG)
LIMITED
Central Huijin
State-owned legal
Investment Co., 0.11% 1,165,500 0
person
Ltd.
Foreign natural
Wu Haoyuan 0.11% 1,109,300 0
person
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 Ltd. 642,884,262
Tang Yidan 8,249,055
Lu Zhigao 4,372,649
Century Securities Co., Ltd. 3,822,900
China Securities Finance
3,477,900
Corporation Limited
He Qiao 1,849,200
ICBE - Southern Innovation
Economy Flexible Configuration 1,418,200
Hybrid Securities Investment Fund
GUOTAI JUNAN
SECURITIES(HONGKONG) 1,256,733
LIMITED
Central Huijin Investment Co., Ltd. 1,165,500
Wu Haoyuan 1,109,300
Explanation on associated
relationship or persons acting in
Naught
concert among the above-mentioned
shareholders
Top ten non-restricted common
shareholders taking part in margin Shareholders ranked in No. 2 and No. 6 were the shareholders participated in the securities
financing and securities lending (if margin trading.
any)
Did any of the top 10 common shareholders or the top 10 non-restricted common shareholders of the Company conduct any
promissory repo during the reporting period?
□ Yea √ No
No such cases in the reporting period.
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Report for the Third Quarter of 2015 of Shenzhen Special Economic Zone Real Estate & Properties (Group) Co., Ltd.
2. Total number of preferred shareholders at the period-end and shareholdings of top 10 preferred
shareholders
□ Applicable √ Inapplicable
Section III. Significant Events
I. Major changes in main accounting statement items and financial indicators in the reporting
period, as well as reasons for the changes
√ Applicable □ Inapplicable
For Jan.-Sept. 2015, the Company achieved operating revenues of RMB 1,608.20 million, up 85.31% when compared with the same
period of last year; operating profits of RMB 316.59 million, soaring 289.00% year on year; total profits of RMB 316.47 million,
representing a year-on-year rise of 283.52%; and net profits attributable to shareholders of the Company of RMB 233.99 million, up
310.48% year on year. These were mainly because the sales of the real estate projects were better than expected and the first to fifth
floors of Wenjin Warehouse were put on a public sale.
Unit: RMB Yuan
Increase/decrease
Item 30 Sept. 2015 31 Dec. 2014 Main reason for the change
(%)
Notes receivable 39,454,446.52 119,846,192.64 -67.08% Some notes became due.
Accounts receivable 150,319,749.21 84,388,842.43 78.13% House mortgages receivable increased.
Prepayments 47,234,423.16 17,821,748.23 165.04% Some materials prepaid for have not yet satisfied
the conditions for carry-over to inventories.
Other current assets 47,462,914.74 12,436,024.40 281.66% Some land VAT was prepaid for.
Long-term deferred 516,639.54 314,159.41 64.45% The office decoration expenses
expense
Notes payable 2,780,000.00 -100.00% Due notes were honored.
Accounts payable 310,286,662.49 541,538,762.36 -42.70% Some construction payables were settled.
Accounts received in 585,975,552.88 144,315,921.34 306.04% Advances from house buyers increased.
advance
Payroll payable 22,640,063.53 38,068,842.03 -40.53% Annual salaries for last year were paid in the current
period.
Dividends payable 131,515,800.00 The interim dividends payable
Non-current liabilities due 212,617,751.52 453,207,700.00 -53.09% Some borrowings were repaid.
within one year
Surplus reserves 42,174,614.67 4,974,391.15 747.83% Statutory surplus reserves were made.
Jan.-Sept. Increase/decrease
Item Jan.-Sept. 2015 Main reason for the change
2014 (%)
Operating revenues 1,608,203,326.28 867,838,901.96 85.31% The real estate sales income that had carried over
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Report for the Third Quarter of 2015 of Shenzhen Special Economic Zone Real Estate & Properties (Group) Co., Ltd.
increased.
The real estate sales costs that had carried over
Operating costs 1,031,161,819.97 650,464,153.20 58.53%
increased.
Business tax and
163,173,859.22 61,785,122.95 164.10% Operating revenues increased.
surtaxes
Selling expenses 27,783,991.06 20,943,800.69 32.66% The sales agent fees and commissions increased.
Financial expenses The capitalization of interest ceased as the main real
28,827,032.23 13,904,377.36 107.32% estate projects were accomplished and accepted upon
check.
Non-business incomes 721,429.25 1,374,647.24 -47.52% The default income decreased.
Non-business expense 837,877.56 243,681.86 243.84% The fine and delay charge costs increased.
Net cash flows from The cash received from sale of goods and rendering
803,676,523.78 237,793,355.50 237.97%
operating activities of services increased.
Net increase in cash and The net cash flows from operating activities
501,960,707.15 -25,168,772.21 2094.38%
cash equivalents increased.
II. Progress and influence of significant events, as well as the analysis and explanation on
solutions
√ Applicable □ Inapplicable
In 2014, according to the government plan, the land plot ratio of the Land Plot of H312-0061 of Donghu Dijing
Mingyuan Project had reduced from 10.1 to 5.8, and for compensation, the first directly authority under Urban
Planning Land and Resources Commission of Shenzhen Municipality issued a document that to replaced the
covered area of the reduced the Land Plot of H312-0061 of Donghu Dijing Mingyuan Project to the statutory plan
of No. 0.8-22 Land Plot of [Jingtian District] statutory plan.
On 26 Aug. 2015, the Company and Shenzhen Tehao Group Co., Ltd. as the common assignee of land of Jingtian
Project ( ZDNo. B304-0011) signed Land Transfer Contract with the first directly authority under Urban Planning
Land and Resources Commission of Shenzhen Municipality, in line with the principal of equal value replacement,
the Company will obtain 21,085 square meter of apartment unit area as the compensation of Donghu Dijing
Mingyuan Project had reduced 25,313 square meter of covered area, the total price of the land was RMB157.1554
million of which the land of the Company was RMB 4 8.6379 million, transferred by the original land cost of
Donghu Dijing Mingyuan Project,, no need additional supplementary payment.
As of 31 Oct. 2015, the license of constructional engineering of Donghu Dijing Mingyuan Project was under
processing, the preparation of engineering general contracting bidding has been under processing simultaneously.
The design, examination and approval of Jingtian Project has been finished, gained the construction license in
advance of foundation pit and earthwork and has been constructed.
Index to the relevant announcement
Overview of the significant event Date of disclosure
disclosed on the website
The progress of Donghu Dijing Mingyuan
http://www.cninfo.com.cn Text of
Project and land transition of Jingtian 29 Aug. 2015
Semi-annual Report
Project
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Report for the Third Quarter of 2015 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 cases in the reporting period.
IV. Predict the 2015 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
V. Securities investment
□Applicable √Inapplicable
The Company was not involved in any securities investment of the reporting period.
VI. Shareholdings in other listed companies
□Applicable √ Inapplicable
The Company was not involved in any shareholding in other listed companies.
VII. Investments in derivatives
□Applicable √Inapplicable
The Company did not invest in any derivative in the reporting period.
VIII. Researches, visits and interviews received in the reporting period
√Applicable □Inapplicable
Way of Main discussion and materials provided by the
Time Place Visitor type Visitor
reception Company
The reason of the Company’s share price slumping
Individual
6 Jul. 2015 Office By phone Individual and crisis measures; had not offer the written
investor
sources.
The operating situation of the first half year of 2015
Individual
31 Jul. 2015 Office By phone Individual and the disclosure appointment time of the
investor
semi-year report; had not offer the written sources.
The relevant information of the disclosure of
Individual
31 Aug. 2015 Office By phone Individual semi-year report and profit allocation for the first
investor
half year; had not offer the written sources.
29 Sep. 2015 Office By phone Individual Individual The operating situation of the third quarter of 2015
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Report for the Third Quarter of 2015 of Shenzhen Special Economic Zone Real Estate & Properties (Group) Co., Ltd.
investor and the disclosure appointment time of the third
quarter of 2015; had not offer the written sources.
IX. Provision of guarantees in violation of regulations
□ Applicable √ Inapplicable
No such cases in the reporting period.
X. Occupation of the Company’s funds by the controlling shareholder or its related parties for
non-operating purposes
□ Applicable √ Inapplicable
No such cases in the reporting period.
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Report for the Third Quarter of 2015 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 1,150,813,346.54 678,957,249.03
Settlement reserves
Intra-group lendings
Financial assets measured at fair
value of which changes are recorded in
current profits and losses
Derivative financial assets
Notes receivable 39,454,446.52 119,846,192.64
Accounts receivable 150,319,749.21 84,388,842.43
Accounts paid in advance 47,234,423.16 17,821,748.23
Premiums receivable
Reinsurance premiums receivable
Receivable reinsurance contract
reserves
Interest receivable
Dividend receivable 1,052,192.76 1,052,192.76
Other accounts receivable 72,198,194.18 59,528,298.21
Financial assets purchased under
agreements to resell
Inventories 2,424,764,538.18 2,796,551,656.42
Assets held for sale
Non-current assets due within 1 year
Other current assets 47,462,914.74 12,436,024.40
Total current assets 3,933,299,805.29 3,770,582,204.12
Non-current assets:
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Report for the Third Quarter of 2015 of Shenzhen Special Economic Zone Real Estate & Properties (Group) Co., Ltd.
Loans by mandate and advances
granted
Available-for-sale financial assets 17,464,240.74 17,464,240.74
Held-to-maturity investments
Long-term accounts receivable
Long-term equity investment 57,600,394.06 57,730,086.79
Investing real estate 439,927,978.99 454,628,505.97
Fixed assets 49,955,218.81 54,321,296.22
Construction in progress
Engineering materials
Disposal of fixed assets
Production biological assets
Oil-gas assets
Intangible assets 5,786,971.86 6,201,226.83
R&D expense
Goodwill
Long-term deferred expenses 516,639.54 314,159.41
Deferred income tax assets 17,882,813.86 13,856,593.97
Other non-current assets
Total of non-current assets 589,134,257.86 604,516,109.93
Total assets 4,522,434,063.15 4,375,098,314.05
Current liabilities:
Short-term borrowings 182,386,101.36 149,846,192.64
Borrowings from the Central Bank
Customer bank deposits and due to
banks and other financial institutions
Intra-group borrowings
Financial liabilities measured at fair
value of which changes are recorded in
current profits and losses
Derivative financial liabilities
Notes payable 2,780,000.00
Accounts payable 310,286,662.49 541,538,762.36
Accounts received in advance 585,975,552.88 144,315,921.34
Financial assets sold and repurchased
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Report for the Third Quarter of 2015 of Shenzhen Special Economic Zone Real Estate & Properties (Group) Co., Ltd.
Handling charges and commissions
payable
Payroll payable 22,640,063.53 38,068,842.03
Tax payable 67,964,517.93 96,394,993.67
Interest payable 16,535,277.94 18,716,395.18
Dividend payable 131,515,800.00
Other accounts payable 417,386,385.21 406,871,917.76
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
212,617,751.52 453,207,700.00
year
Other current liabilities
Total current liabilities 1,947,308,112.86 1,851,740,724.98
Non-current liabilities:
Long-term borrowings 432,069,508.38 478,985,579.95
Bonds payable
Of which: preference shares
Perpetual bonds
Long-term payables 10,663,525.95 11,267,012.97
Long-term payroll payables
Specific payables
Estimated liabilities
Deferred income
Deferred income tax liabilities
Other non-current liabilities
Total non-current liabilities 442,733,034.33 490,252,592.92
Total liabilities 2,390,041,147.19 2,341,993,317.90
Owners’ equity:
Share capital 1,011,660,000.00 1,011,660,000.00
Other equity instruments
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Report for the Third Quarter of 2015 of Shenzhen Special Economic Zone Real Estate & Properties (Group) Co., Ltd.
Of which: preference shares
Perpetual bonds
Capital reserves 978,244,910.11 978,244,910.11
Less: Treasury stock
Other comprehensive income 7,261,462.50 9,510,918.16
Specific reserves
Surplus reserves 42,174,614.67 4,974,391.15
Provisions for general risks
Retained profits 222,423,431.80 157,147,182.36
Total equity attributable to owners of
2,261,764,419.08 2,161,537,401.78
the Company
Minority interests -129,371,503.12 -128,432,405.63
Total owners’ equity 2,132,392,915.96 2,033,104,996.15
Total liabilities and owners’ equity 4,522,434,063.15 4,375,098,314.05
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
Unit: RMB Yuan
Item Closing balance Opening balance
Current assets:
Monetary funds 799,191,762.32 332,170,340.34
Financial assets measured at fair
value of which changes are recorded in
current profits and losses
Derivative financial assets
Notes receivable
Accounts receivable 20,198,921.16 39,403,575.24
Accounts paid in advance 69,000.00
Interest receivable
Dividend receivable 140,763,284.58
Other accounts receivable 708,856,599.15 675,944,666.16
Inventories 1,099,999,297.07 1,481,149,880.16
Assets held for sale
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Report for the Third Quarter of 2015 of Shenzhen Special Economic Zone Real Estate & Properties (Group) Co., Ltd.
Non-current assets due within 1 year
Other current assets 31,287,702.93 7,961,089.71
Total current assets 2,800,297,567.21 2,536,698,551.61
Non-current assets:
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 316,235,349.40 316,365,042.13
Investing real estate 384,043,118.54 398,040,383.57
Fixed assets 29,534,867.57 31,477,401.72
Construction in progress
Engineering materials
Disposal of fixed assets
Production biological assets
Oil-gas assets
Intangible assets 750,166.86 1,031,266.83
R&D expense
Goodwill
Long-term deferred expenses 397,122.64 76,395.75
Deferred income tax assets 4,298,737.32 850,769.96
Other non-current assets
Total of non-current assets 747,259,362.33 759,841,259.96
Total assets 3,547,556,929.54 3,296,539,811.57
Current liabilities:
Short-term borrowings
Financial liabilities measured at fair
value of which changes are recorded in
current profits and losses
Derivative financial liabilities
Notes payable
Accounts payable 70,400,825.05 225,934,147.53
Accounts received in advance 251,819,868.60 36,334,967.00
Payroll payable 11,277,626.93 13,613,754.45
Tax payable 47,351,471.47 48,212,677.31
Interest payable 16,535,277.94 18,328,034.07
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Report for the Third Quarter of 2015 of Shenzhen Special Economic Zone Real Estate & Properties (Group) Co., Ltd.
Dividend payable 131,515,800.00
Other accounts payable 312,007,538.84 390,836,659.90
Liabilities held for sale
Non-current liabilities due within 1
212,617,751.52 253,207,700.00
year
Other current liabilities
Total current liabilities 1,053,526,160.35 986,467,940.26
Non-current liabilities:
Long-term borrowings 432,069,508.38 445,996,227.72
Bonds payable
Of which: preference shares
Perpetual bonds
Long-term payables
Long-term payroll payables
Specific payables
Estimated liabilities
Deferred income
Deferred income tax liabilities
Other non-current liabilities
Total non-current liabilities 432,069,508.38 445,996,227.72
Total liabilities 1,485,595,668.73 1,432,464,167.98
Owners’ equity:
Share capital 1,011,660,000.00 1,011,660,000.00
Other equity instruments
Of which: preference shares
Perpetual bonds
Capital reserves 978,244,910.11 978,244,910.11
Less: Treasury stock
Other comprehensive income
Specific reserves
Surplus reserves 17,694,227.94
Retained profits 54,362,122.76 -125,829,266.52
Total owners’ equity 2,061,961,260.81 1,864,075,643.59
Total liabilities and owners’ equity 3,547,556,929.54 3,296,539,811.57
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Report for the Third Quarter of 2015 of Shenzhen Special Economic Zone Real Estate & Properties (Group) Co., Ltd.
3. Consolidated income statement for the reporting period
Unit: RMB Yuan
Item Jul.-Sept. 2015 Jul.-Sept. 2014
I. Operating revenues 460,650,552.32 294,764,542.65
Including: Sales income 460,650,552.32 294,764,542.65
Interest income
Premium income
Handling charge and commission
income
II. Operating costs 393,508,104.90 263,086,697.00
Including: Cost of sales 333,515,943.82 217,656,389.50
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 33,561,524.58 20,896,532.69
Selling and distribution expenses 10,537,814.31 6,697,574.40
Administrative expenses 12,021,721.81 13,758,229.46
Financial expenses 3,871,100.38 4,077,970.95
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) 67,142,447.42 31,677,845.65
Add: non-operating income 259,724.13 877,366.54
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Report for the Third Quarter of 2015 of Shenzhen Special Economic Zone Real Estate & Properties (Group) Co., Ltd.
Including: Gains on disposal of
non-current assets
Less: non-operating expense 759,062.41 123,494.58
Including: Losses on disposal of
571.90 69,706.34
non-current assets
IV. Total profit (“-” means loss) 66,643,109.14 32,431,717.61
Less: Income tax expense 19,029,906.71 10,122,592.97
V. Net profit (“-” means loss) 47,613,202.43 22,309,124.64
Net profit attributable to owners of
47,584,448.58 22,272,401.09
the Company
Minority shareholders’ income 28,753.85 36,723.55
VI. After-tax net amount of other
-3,193,591.50 12,633.15
comprehensive incomes
After-tax net amount of other
comprehensive incomes attributable to -2,350,252.46 8,858.81
owners of the Company
(I) Other comprehensive incomes
that will not be reclassified into gains and 52.01
losses
1. Changes in net liabilities or
assets with a defined benefit plan upon
re-measurement
2. Enjoyable shares in other
comprehensive incomes in investees that
cannot be reclassified into gains and
losses under the equity method
(II) Other comprehensive incomes
that will be reclassified into gains and -2,350,252.46 8,806.80
losses
1. Enjoyable shares in other
comprehensive incomes in investees that
will be reclassified into gains and losses
under the equity method
2. Gains and losses on fair
value changes of available-for-sale
financial assets
3. Gains and losses on
reclassifying held-to-maturity
investments into available-for-sale
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Report for the Third Quarter of 2015 of Shenzhen Special Economic Zone Real Estate & Properties (Group) Co., Ltd.
financial assets
4. Effective hedging gains and
losses on cash flows
5. Foreign-currency financial
-2,350,252.46 8,806.80
statement translation difference
6. Other
After-tax net amount of other
comprehensive incomes attributable to -843,339.04 3,774.34
minority shareholders
VII. Total comprehensive incomes 44,419,610.93 22,321,757.79
Attributable to owners of the
45,234,196.12 22,281,259.90
Company
Attributable to minority
-814,585.19 40,497.89
shareholders
VIII. Earnings per share
(I) Basic earnings per share 0.0470 0.0220
(II) Diluted earnings per share 0.0470 0.0220
Where business mergers under the same control occurred in the reporting period, the net profit achieved by the merged parties before
the business mergers was RMB 0.00, with the corresponding amount for the same period of last year being RMB 0.00.
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
Unit: RMB Yuan
Item Jul.-Sept. 2015 Jul.-Sept. 2014
I. Total sales 168,709,253.87 143,701,538.75
Less: cost of sales 111,289,278.49 86,278,882.95
Business taxes and surcharges 14,272,249.47 12,697,752.01
Distribution expenses 8,294,132.91 2,712,503.22
Administrative expenses 6,075,587.04 6,237,553.37
Financial costs -6,582,280.28 4,199,253.76
Impairment loss
Add: gain/(loss) from change in fair
value (“-” means loss)
Gain/(loss) from investment (“-” 270,609,041.96
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Report for the Third Quarter of 2015 of Shenzhen Special Economic Zone Real Estate & Properties (Group) Co., Ltd.
means loss)
Including: income form investment
on associates and joint ventures
II. Business profit (“-” means loss) 35,360,286.24 302,184,635.40
Add: non-operating income 50,000.00 799,903.67
Including: Gains on disposal of
non-current assets
Less: non-operating expense 20,158.36 20,000.00
Including: Losses on disposal of
non-current assets
III. Total profit (“-” means loss) 35,390,127.88 302,964,539.07
Less: Income tax expense 8,760,256.56 8,082,746.31
IV. Net profit (“-” means loss) 26,629,871.32 294,881,792.76
V. After-tax net amount of other
52.01
comprehensive incomes
(I) Other comprehensive incomes that
will not be reclassified into gains and 52.01
losses
1. Changes in net liabilities or
assets with a defined benefit plan upon
re-measurement
2. Enjoyable shares in other
comprehensive incomes in investees
that cannot be reclassified into gains
and losses under the equity method
(II) Other comprehensive incomes
that will be reclassified into gains and
losses
1. Enjoyable shares in other
comprehensive incomes in investees
that will be reclassified into gains and
losses under the equity method
2. Gains and losses on fair value
changes of available-for-sale financial
assets
3. Gains and losses on
reclassifying held-to-maturity
investments into available-for-sale
financial assets
19
Report for the Third Quarter of 2015 of Shenzhen Special Economic Zone Real Estate & Properties (Group) Co., Ltd.
4. Effective hedging gains and
losses on cash flows
5. Foreign-currency financial
statement translation difference
6. Other
VI. Total comprehensive incomes 26,629,871.32 294,881,844.77
VII. Earnings per share
(I) Basic earnings per share
(II) Diluted earnings per share
5. Consolidated income statement for Jan.-Sept. 2015
Unit: RMB Yuan
Item Jan.-Sept. 2015 Jan.-Sept. 2014
I. Operating revenues 1,608,203,326.28 867,838,901.96
Including: Sales income 1,608,203,326.28 867,838,901.96
Interest income
Premium income
Handling charge and commission
income
II. Operating costs 1,291,833,759.19 786,452,412.86
Including: Cost of sales 1,031,161,819.97 650,464,153.20
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 163,173,859.22 61,785,122.95
Selling and distribution expenses 27,783,991.06 20,943,800.69
Administrative expenses 40,727,705.71 39,354,958.66
Financial expenses 28,827,032.23 13,904,377.36
Asset impairment loss 159,351.00
20
Report for the Third Quarter of 2015 of Shenzhen Special Economic Zone Real Estate & Properties (Group) Co., Ltd.
Add: Gain/(loss) from change in fair
value (“-” means loss)
Gain/(loss) from investment (“-”
220,307.27
means loss)
Including: share of profits in
-129,692.73
associates and joint ventures
Foreign exchange gains (“-” means
loss)
III. Business profit (“-” means loss) 316,589,874.36 81,386,489.10
Add: non-operating income 721,429.25 1,374,647.24
Including: Gains on disposal of
396.00
non-current assets
Less: non-operating expense 837,877.56 243,681.86
Including: Losses on disposal of
10,609.22 70,996.24
non-current assets
IV. Total profit (“-” means loss) 316,473,426.05 82,517,454.48
Less: Income tax expense 82,456,198.15 25,455,598.08
V. Net profit (“-” means loss) 234,017,227.90 57,061,856.40
Net profit attributable to owners of
233,992,272.96 57,004,777.82
the Company
Minority shareholders’ income 24,954.94 57,078.58
VI. After-tax net amount of other
-3,213,508.09 -625,466.56
comprehensive incomes
After-tax net amount of other
comprehensive incomes attributable to -2,249,455.66 -427,587.83
owners of the Company
(I) Other comprehensive incomes
that will not be reclassified into gains and 52.01
losses
1. Changes in net liabilities or
assets with a defined benefit plan upon
re-measurement
2. Enjoyable shares in other
comprehensive incomes in investees that
cannot be reclassified into gains and
losses under the equity method
(II) Other comprehensive incomes
-2,249,455.66 -427,639.84
that will be reclassified into gains and
21
Report for the Third Quarter of 2015 of Shenzhen Special Economic Zone Real Estate & Properties (Group) Co., Ltd.
losses
1. Enjoyable shares in other
comprehensive incomes in investees that
will be reclassified into gains and losses
under the equity method
2. Gains and losses on fair
value changes of available-for-sale
financial assets
3. Gains and losses on
reclassifying held-to-maturity
investments into available-for-sale
financial assets
4. Effective hedging gains and
losses on cash flows
5. Foreign-currency financial
-2,249,455.66 -427,639.84
statement translation difference
6. Other
After-tax net amount of other
comprehensive incomes attributable to -964,052.43 -197,878.73
minority shareholders
VII. Total comprehensive incomes 230,803,719.81 56,436,389.84
Attributable to owners of the
231,742,817.30 56,577,189.99
Company
Attributable to minority
-939,097.49 -140,800.15
shareholders
VIII. Earnings per share
(I) Basic earnings per share 0.2313 0.0563
(II) Diluted earnings per share 0.2313 0.0563
Where business mergers under the same control occurred in this period, the net profit achieved by the merged parties before the
business mergers was RMB 0.00, with the corresponding amount for the same period of last year being RMB 0.00.
6. Income statement of the Company for Jan.-Sept. 2015
Unit: RMB Yuan
Item Jan.-Sept. 2015 Jan.-Sept. 2014
I. Total sales 697,633,946.33 408,194,207.74
Less: cost of sales 352,028,685.00 247,382,934.77
Business taxes and surcharges 88,853,194.93 36,337,053.68
Distribution expenses 16,047,071.09 8,357,742.10
22
Report for the Third Quarter of 2015 of Shenzhen Special Economic Zone Real Estate & Properties (Group) Co., Ltd.
Administrative expenses 20,918,490.04 18,390,128.88
Financial costs -2,206,221.97 12,606,169.86
Impairment loss 159,351.00 0.00
Add: gain/(loss) from change in fair
value (“-” means loss)
Gain/(loss) from investment (“-”
163,042,176.21 270,609,041.96
means loss)
Including: income form investment
on associates and joint ventures
II. Business profit (“-” means loss) 384,875,552.45 355,729,220.41
Add: non-operating income 93,669.98 803,903.67
Including: Gains on disposal of
non-current assets
Less: non-operating expense 50,158.36 59,000.00
Including: Losses on disposal of
non-current assets
III. Total profit (“-” means loss) 384,919,064.07 356,474,124.08
Less: Income tax expense 55,517,646.85 21,632,477.28
IV. Net profit (“-” means loss) 329,401,417.22 334,841,646.80
V. After-tax net amount of other
52.01
comprehensive incomes
(I) Other comprehensive incomes that
will not be reclassified into gains and 52.01
losses
1. Changes in net liabilities or
assets with a defined benefit plan upon
re-measurement
2. Enjoyable shares in other
comprehensive incomes in investees
that cannot be reclassified into gains
and losses under the equity method
(II) Other comprehensive incomes
that will be reclassified into gains and
losses
1. Enjoyable shares in other
comprehensive incomes in investees
that will be reclassified into gains and
losses under the equity method
23
Report for the Third Quarter of 2015 of Shenzhen Special Economic Zone Real Estate & Properties (Group) Co., Ltd.
2. Gains and losses on fair value
changes of available-for-sale financial
assets
3. Gains and losses on
reclassifying held-to-maturity
investments into available-for-sale
financial assets
4. Effective hedging gains and
losses on cash flows
5. Foreign-currency financial
statement translation difference
6. Other
VI. Total comprehensive incomes 329,401,417.22 334,841,698.81
VII. Earnings per share
(I) Basic earnings per share
(II) Diluted earnings per share
7. Consolidated cash flow statement for Jan.-Sept. 2015
Unit: RMB Yuan
Item Jan.-Sept. 2015 Jan.-Sept. 2014
I. Cash flows from operating activities:
Cash received from sale of
2,016,735,096.96 1,467,104,637.92
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 financial
assets measured at fair value of which
changes are recorded into current gains
24
Report for the Third Quarter of 2015 of Shenzhen Special Economic Zone Real Estate & Properties (Group) Co., Ltd.
and losses
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
92,720,982.55 83,259,803.11
operating activities
Subtotal of cash inflows from operating
2,109,456,079.51 1,550,364,441.03
activities
Cash paid for goods and services 773,834,438.41 840,413,440.43
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
charges and commissions
Cash for paying policy dividends
Cash paid to and for employees 102,477,692.19 98,540,292.61
Various taxes paid 312,484,510.27 265,840,422.79
Other cash payment relating to
116,982,914.86 107,776,929.70
operating activities
Subtotal of cash outflows from
1,305,779,555.73 1,312,571,085.53
operating activities
Net cash flows from operating activities 803,676,523.78 237,793,355.50
II. Cash flows from investing activities:
Cash received from withdrawal of
investments
Cash received from return on
350,000.00
investments
Net cash received from disposal of
fixed assets, intangible assets and other 8,250.00 7,436.00
long-term assets
25
Report for the Third Quarter of 2015 of Shenzhen Special Economic Zone Real Estate & Properties (Group) Co., Ltd.
Net cash received from disposal of
subsidiaries or other business units
Other cash received relating to
investing activities
Subtotal of cash inflows from investing
358,250.00 7,436.00
activities
Cash paid to acquire fixed assets,
intangible assets and other long-term 2,420,488.27 1,141,098.00
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
2,420,488.27 1,141,098.00
investing activities
Net cash flows from investing activities -2,062,238.27 -1,133,662.00
III. Cash Flows from Financing
Activities:
Cash received from capital
contributions
Including: Cash received from
minority shareholder investments by
subsidiaries
Cash received from borrowings 314,034,573.83 25,000,000.00
Cash received from issuance of
bonds
Other cash received relating to
2,785,000.00 52.01
financing activities
Subtotal of cash inflows from financing
316,819,573.83 25,000,052.01
activities
Repayment of borrowings 574,477,236.26 231,018,556.99
Cash paid for interest expenses and
42,373,716.76 55,880,136.69
distribution of dividends or profit
Including: dividends or profit paid
by subsidiaries to minority shareholders
Other cash payments relating to
26
Report for the Third Quarter of 2015 of Shenzhen Special Economic Zone Real Estate & Properties (Group) Co., Ltd.
financing activities
Sub-total of cash outflows from
616,850,953.02 286,898,693.68
financing activities
Net cash flows from financing activities -300,031,379.19 -261,898,641.67
IV. Effect of foreign exchange rate
377,800.83 70,175.96
changes on cash and cash equivalents
V. Net increase in cash and cash
501,960,707.15 -25,168,772.21
equivalents
Add: Opening balance of cash and
670,119,849.03 519,284,372.44
cash equivalents
VI. Closing balance of cash and cash
1,172,080,556.18 494,115,600.23
equivalents
8. Cash flow statement of the Company for Jan.-Sept. 2015
Unit: RMB Yuan
Item Jan.-Sept. 2015 Jan.-Sept. 2014
I. Cash flows from operating activities:
Cash received from sale of
931,500,682.48 411,093,154.04
commodities and rendering of service
Tax refunds received
Other cash received relating to
19,201,911.52 99,596,412.49
operating activities
Subtotal of cash inflows from operating
950,702,594.00 510,689,566.53
activities
Cash paid for goods and services 118,857,467.40 149,793,173.90
Cash paid to and for employees 28,797,140.54 27,955,272.52
Various taxes paid 182,264,489.08 172,072,058.31
Other cash payment relating to
67,386,424.79 8,008,255.14
operating activities
Subtotal of cash outflows from
397,305,521.81 357,828,759.87
operating activities
Net cash flows from operating activities 553,397,072.19 152,860,806.66
II. Cash flows from investing activities:
Cash received from withdrawal of
investments
Cash received from return on
350,000.00
investments
27
Report for the Third Quarter of 2015 of Shenzhen Special Economic Zone Real Estate & Properties (Group) Co., Ltd.
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
350,000.00 0.00
activities
Cash paid to acquire fixed assets,
intangible assets and other long-term 302,034.00 816,296.00
assets
Cash paid for investment
Net cash paid to acquire subsidiaries
and other business units
Other cash payments relating to
investing activities
Subtotal of cash outflows from
302,034.00 816,296.00
investing activities
Net cash flows from investing activities 47,966.00 -816,296.00
III. Cash Flows from Financing
Activities:
Cash received from capital
contributions
Cash received from borrowings 200,000,000.00
Cash received from issuance of
bonds
Other cash received relating to
0.00 52.01
financing activities
Subtotal of cash inflows from financing
200,000,000.00 52.01
activities
Repayment of borrowings 253,336,204.36 211,018,556.99
Cash paid for interest expenses and
33,088,373.69 42,403,589.79
distribution of dividends or profit
Other cash payments relating to
financing activities
Sub-total of cash outflows from
286,424,578.05 253,422,146.78
financing activities
28
Report for the Third Quarter of 2015 of Shenzhen Special Economic Zone Real Estate & Properties (Group) Co., Ltd.
Net cash flows from financing activities -86,424,578.05 -253,422,094.77
IV. Effect of foreign exchange rate
961.84 102.12
changes on cash and cash equivalents
V. Net increase in cash and cash
467,021,421.98 -101,377,481.99
equivalents
Add: Opening balance of cash and
326,170,340.34 362,953,152.47
cash equivalents
VI. Closing balance of cash and cash
793,191,762.32 261,575,670.48
equivalents
II. Auditor’s report
Is this report audited?
□ Yes √ No
This report is not audited.
29
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