Report for the First Quarter of 2016 of Shenzhen Properties & Resources Development (Group) Ltd.
Shenzhen Properties & Resources Development (Group) Ltd.
Report for the First Quarter of 2016
2016-11
April 2016
1
Report for the First Quarter of 2016 of Shenzhen Properties & Resources Development (Group) Ltd.
Section I Important Statements
The Board of Directors, the Supervisory Committee, directors, supervisors and
senior management staff of Shenzhen Properties & Resources Development
(Group) Ltd. (hereinafter referred to as “the Company”) warrant that the
information carried in this report is factual, accurate and complete, without any
false record, misleading statement or material omission. And they shall be
jointly and severally liable for that.
Mr. Chen Yugang, company principal, Mr. Wang Hangjun, chief of the
accounting work, and Ms. Shen Xueying, chief of the accounting organ (chief of
accounting), hereby confirm that the financial statements enclosed in this report
are factual, accurate and complete.
All directors have attended the board session for reviewing this report.
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 First Quarter of 2016 of Shenzhen Properties & Resources Development (Group) Ltd.
Section II Financial Results and Changes in Shareholders
I Financial results
Whether the Company performed any retroactive adjustments to or restatement of its accounting data due to changes of accounting
policies or correction of accounting errors
□ Yes √ No
January-March 2016 January-March 2015 +/-%
Operating revenues (RMB) 196,079,291.87 135,271,193.34 44.95%
Net profit attributable to shareholders of
577,026.01 356,364.92 61.92%
the Company (RMB)
Net profit attributable to shareholders of
the Company after excluding exceptional 193,418.02 254,313.28 -23.94%
profit and loss (RMB)
Net operating cash flow (RMB) 877,544,687.88 -129,634,375.83 776.94%
Basic earnings per share (RMB/share) 0.0010 0.0006 66.67%
Diluted earnings per share (RMB/share) 0.0010 0.0006 66.67%
Weighted average return on equity (%) 0.03% 0.02% 0.01%
31 March 2016 31 December 2015 +/-%
Total assets (RMB) 5,330,901,566.09 4,379,763,486.10 21.72%
Net assets attributable to shareholders of
2,100,753,325.12 2,099,906,766.61 0.04%
the Company (RMB)
Exceptional profit and loss
√ Applicable □ Not applicable
Unit: RMB
Item January-March 2016 Note
Profit/loss on disposal of non-current assets (including offset
-6,300.00
amount of asset impairment provisions)
Non-operating income and expense other than the above 433,484.05
Less: income tax effects 43,576.06
Total 383,607.99 --
Explanation of why the Company classified an item as exceptional profit/loss according to the definition in the Explanatory
Announcement No. 1 on Information Disclosure for Companies Offering Their Securities to the Public—Exceptional Profit and Loss,
or reclassified any exceptional profit/loss item given as an example in the said explanatory announcement to recurrent profit/loss
□ Applicable √ Not applicable
No such cases in the Reporting Period.
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Report for the First Quarter of 2016 of Shenzhen Properties & Resources Development (Group) Ltd.
II Total number of shareholders at the period-end and shareholdings of top ten shareholders
1. Numbers of common shareholders and preference shareholders with resumed voting rights as well as
shareholdings of top ten shareholders
Unit: share
Total number of preference
Total number of common shareholders with resumed
45,869 0
shareholders at the period-end voting rights at the period-end
(if any)
Shareholdings of top ten 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
CONSTRUCTIO
N State-owned
54.33% 323,796,324 293,997,370
INVESTMENT corporation
HOLDINGS
CORPORATION
SHENZHEN
INVESTMENT State-owned
9.49% 56,582,573 56,582,573
MANAGEMENT corporation
CORPORATION
Domestic natural
YU HAO 0.29% 1,819,100
person
SHENZHEN
DUTY-FREE Domestic
COMMODITY non-state-owned 0.29% 1,730,300 1,730,300
ENTERPRISES corporation
CO., LTD.
Domestic natural
MAI FURONG 0.27% 1,514,600
person
JASON
Domestic
OFFSHORE
non-state-owned 0.22% 1,214,100
EQUIPMENT
corporation
CO., LTD.
Domestic natural
CHEN LIYING 0.18% 1,076,051
person
Domestic natural
CAO YIFAN 0.14% 830,000
person
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Report for the First Quarter of 2016 of Shenzhen Properties & Resources Development (Group) Ltd.
Domestic natural
ZHANG TING 0.13% 757,300
person
BEIJING
FENGDAN
Domestic
INVESTMENT
non-state-owned 0.12% 710,000
&
corporation
MANAGEMENT
CO., LTD.
Shareholdings of top ten non-restricted shareholders
Variety of shares
Name of shareholder Number of non-restricted shares held
Variety Number
SHENZHEN CONSTRUCTION
RMB common
INVESTMENT HOLDINGS 29,798,954 29,798,954
shares
CORPORATION
RMB common
YU HAO 1,819,100 1,819,100
shares
Domestically
MAI FURONG 1,514,600 listed foreign 1,514,600
shares
JASON OFFSHORE EQUIPMENT RMB common
1,214,100 1,214,100
CO., LTD. shares
Domestically
CHEN LIYING 1,076,051 listed foreign 1,076,051
shares
Domestically
CAO YIFAN 830,000 listed foreign 830,000
shares
RMB common
ZHANG TING 757,300 757,300
shares
BEIJING FENGDAN
RMB common
INVESTMENT & MANAGEMENT 710,000 710,000
shares
CO., LTD.
RMB common
LI YAHUI 612,477 612,477
shares
RMB common
JIA WENJUN 598,579 598,579
shares
The first shareholder belongs to the actual controlling shareholder of the Company –
Related or acting-in-concert parties
Shenzhen Investment Shareholding Co., Ltd.. Other than that, it is unknown whether the
among the above shareholders
remaining 8 shareholders are related parties or acting-in-concert parties.
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Report for the First Quarter of 2016 of Shenzhen Properties & Resources Development (Group) Ltd.
Did any of the top ten common shareholders or the top ten non-restricted common shareholders of the Company conduct any
promissory repo during the Reporting Period?
□ Yea √ No
No such cases in the Reporting Period.
2. Total number of preference shareholders and shareholdings of the top ten of them
□ Applicable √ Not applicable
Section III Significant Events
I Changes in major accounting statement items and financial indicators for the Reporting
Period, as well as reasons for such changes
√ Applicable □ Not applicable
1. Monetary funds stood at RMB1,681,836,953.16 at the end of the Reporting Period, up 77.83% from the
opening amount, mainly because the advances from house buyers increased.
2. Accounts paid in advance stood at RMB108,453,534.21 at the end of the Reporting Period, up 281.67% from
the opening amount, mainly because the taxes prepaid as required increased.
3. Short-term borrowings stood at RMB0.00 at the end of the Reporting Period, down 100.00% from the opening
amount, mainly because the mature borrowings were repaid.
4. Accounts received in advance stood at RMB1,750,819,898.23 at the end of the Reporting Period, up 168.38%
from the opening amount, mainly because the advances from house buyers increased.
5. Interest payable stood at RMB294,162.83 at the end of the Reporting Period, down 38.64% from the opening
amount, mainly because bank loans decreased.
6. Non-current liabilities due within one year stood at RMB0.00 at the end of the Reporting Period, down
100.00% from the opening amount, mainly because the mature liabilities were repaid.
7. Operating revenues stood at RMB196,079,291.87 for the Reporting Period, up 44.95% from the same period of
last year, mainly because the project area available for settlement increased.
8. Operating costs stood at RMB152,504,124.12 for the Reporting Period, up 57.58% from the same period of last
year, mainly because the project area available for settlement increased.
9. Business tax and surtaxes stood at RMB17,801,270.26 for the Reporting Period, up 57.27% from the same
period of last year, mainly because the real estate income increased and the business tax, land VAT and other
taxes and fares increased accordingly.
10. Selling expenses stood at RMB7,399,801.43 for the Reporting Period, up 104.77% from the same period of
last year, mainly because the Company enhanced marketing and paid more for advertising.
11. Investment income and investment income from associates and joint ventures both stood at RMB650,151.35
for the Reporting Period, both up 109.73% from the same period of last year, mainly because the income from
joint ventures increased.
12. Net non-operating income stood at RMB427,184.05 for the Reporting Period, up 960.26% from the same
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Report for the First Quarter of 2016 of Shenzhen Properties & Resources Development (Group) Ltd.
period of last year, mainly because the fines and so on paid decreased.
13. Corporate income tax stood at RMB-349,874.68 for the Reporting Period, down 121.03% from the same
period of last year, mainly because the profit decreased.
14. Operating profit and total profit stood at RMB-200,032.72 and RMB227,151.33 respectively for the Reporting
Period, down 110.10% and 88.75% from the same period of last year, mainly because the gross profit margin saw
a considerable drop due to changes in settled projects and the marketing expenses increased.
15. Net profit (attributable to the Company) stood at RMB577,026.01 for the Reporting Period, up 61.92% from
the same period of last year, mainly because the deferred corporate income tax income recognized according to
the applicable rules increased.
16. The net after-tax amount of other composite income stood at RMB269,532.50 for the Reporting Period, down
69.09% from the same period of last year, mainly because of the fair value changes of available-for-sale financial
assets in the same period of last year.
17. Net operating cash flow stood at RMB877,544,687.88 for the Reporting Period, up 776.94% from the same
period of last year, mainly because the incoming funds from sale of houses increased.
18. Net investment cash flow stood at RMB-485,852.40 for the Reporting Period, with net cash outflow down
96.53% from the same period of last year, mainly because a subsidiary renewed its taxies in the same period of
last year.
19. Net financing cash flow stood at RMB-140,690,176.52 for the Reporting Period, with net cash outflow up
139.86% from the same period of last year, mainly because cash repayments increased.
20. Net increase in cash and cash equivalents stood at RMB736,096,977.39 for the Reporting Period, up 464.20%
from the same period of last year, mainly because the incoming funds from sale of houses increased.
21. The closing balance of cash and cash equivalents stood at RMB1,669,434,793.16, up 464.20% from the
corresponding amount for the same period of last year, mainly because the opening balance of cash and cash
equivalents was RMB124 million higher than the corresponding amount for the same period of last year and the
incoming funds from sale of houses increased.
II Progress of significant events and analysis & explanations on their influence and solutions
□ Applicable √ Not applicable
III Commitments of the Company, its shareholders, actual controller, acquirer, directors,
supervisors, senior management or other related parties fulfilled in the Reporting Period or
ongoing at the period-end
□ Applicable √ Not applicable
No such cases in the Reporting Period.
IV Operating result forecast for January-June 2016
Forecast of a possible deficit or considerable YoY change in the accumulative net profit made during the period from the beginning
of the year to the end of the next reporting period, as well as explanation of why
√ Applicable □ Not applicable
Forecast of operating results: Significant decrease in the same direction
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Report for the First Quarter of 2016 of Shenzhen Properties & Resources Development (Group) Ltd.
Type of forecast data: Exact data
January-June
January-June 2016 +/-%
2015
Forecast accumulative net
-950 3,116 Decrease -130.49%
profit (RMB’0,000)
Basic earnings per share
-0.0159 0.0523 Decrease -130.49%
(RMB/share)
The considerable fluctuation of the business results is attributed to a significant year-on-year drop in
the gross profit margin of projects caused by settlement of projects in different areas. The aforesaid
forecasts were just preliminary measurements given by the Company according to the current sales
Explanation of the forecast
situation of its real estate projects. Investors are kindly reminded to note that the actual earnings of
the Company for January-June 2016 shall be subject to data to be disclosed in the Company’s 2016
Semi-Annual Report.
V Securities investments
√ Applicable □ Not applicable
Initial Opening Closing Profit/loss
Opening Closing Closing
Variety of Code of Name of investmen number sharehold number sharehold book in the Accounti Source of
ing ing Reporting
securities securities securities of shares of shares value ng title securities
t cost percentag percentag Period
held held (RMB)
e e (RMB)
(RMB)
Obtained
Available
through
3,103,315 3,103,315 -for-sale
Stock 400016 Gintian A 1,484,840 debt
.60 .60 financial
restructur
assets
ing
Obtained
Available
through
465,105.6 465,105.6 -for-sale
Stock 420016 Gintian B 447,217 debt
8 8 financial
restructur
assets
ing
3,568,421 3,568,421
Total 0 -- 1,932,057 -- 0.00 -- --
.28 .28
Disclosure date of the
announcement about the board’s
consent for the securities
investment
Disclosure date of the
announcement about the general
meeting’s consent for the
securities investment (if any)
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Report for the First Quarter of 2016 of Shenzhen Properties & Resources Development (Group) Ltd.
VI Investments in derivative financial instruments
□ Applicable √ Not applicable
No such cases in the Reporting Period.
VII Visits paid to the Company in the Reporting Period for purposes of research,
communication, interview, etc.
√ Applicable □ Not applicable
Date of visit Way of visit Type of visitor Index to main inquiry information
2016-02-26 Telephone communication Individual Sale condition of Front Sea
The transfer time of Front Sea houses,
2016-03-10 Telephone communication Individual
etc.
VIII Illegal provision of guarantees for external parties
□ Applicable √ Not applicable
No such cases in the Reporting Period.
IX Occupation of the Company’s funds by the controlling shareholder or its related parties
for non-operating purposes
□ Applicable √ Not applicable
No such cases in the Reporting Period.
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Report for the First Quarter of 2016 of Shenzhen Properties & Resources Development (Group) Ltd.
Section IV Financial Statements
I Financial statements
1. Consolidated balance sheet
Prepared by Shenzhen Properties & Resources Development (Group) Ltd.
31 March 2016
Unit: RMB
Item Closing balance Opening balance
Current assets:
Monetary funds 1,681,836,953.16 945,739,975.77
Settlement reserves
Lendings to banks and other financial
institutions
Financial assets measured at fair
value with fair value changes included
in the profit and loss for the Reporting
Period
Derivative financial assets
Notes receivable
Accounts receivable 35,756,034.81 38,772,146.41
Accounts paid in advance 108,453,534.21 28,415,733.43
Premiums receivable
Reinsurance premiums receivable
Receivable reinsurance contract
reserves
Interest receivable
Dividends receivable
Other accounts receivable 13,658,712.01 11,619,503.47
Financial assets purchased under
agreement to resell
Inventories 2,566,174,994.39 2,466,342,278.85
Assets held for sale
Non-current assets due within one
year
Other current assets 174,382,120.00 174,382,120.00
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Report for the First Quarter of 2016 of Shenzhen Properties & Resources Development (Group) Ltd.
Total current assets 4,580,262,348.58 3,665,271,757.93
Non-current assets:
Loans and advances to customers
Available-for-sale financial assets 18,068,421.28 14,500,000.00
Held-to-maturity investments
Long-term accounts receivable
Long-term equity investments 35,176,328.76 34,526,177.41
Investment property 233,240,194.30 237,260,788.82
Fixed assets 82,330,511.64 85,929,516.37
Construction in progress
Engineering materials
Disposal of fixed assets
Productive living assets
Oil-gas assets
Intangible assets 90,851,958.23 92,640,083.99
R&D expense
Goodwill
Long-term deferred expenses 1,892,639.33 2,024,722.07
Deferred income tax assets 281,804,094.97 240,335,370.51
Other non-current assets 7,275,069.00 7,275,069.00
Total non-current assets 750,639,217.51 714,491,728.17
Total assets 5,330,901,566.09 4,379,763,486.10
Current liabilities:
Short-term borrowings 8,000,000.00
Borrowings from the Central Bank
Money deposits accepted and
inter-bank deposits
Loans from banks and other financial
institutions
Financial liabilities measured at fair
value with fair value changes included
in the profit and loss for the Reporting
Period
Derivative financial liabilities
Notes payable
Accounts payable 178,540,466.51 191,524,938.54
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Report for the First Quarter of 2016 of Shenzhen Properties & Resources Development (Group) Ltd.
Accounts received in advance 1,750,819,898.23 652,369,778.20
Financial assets sold for repurchase
Handling charges and commissions
payable
Payroll payable 61,469,139.45 63,791,816.49
Taxes and fares payable 843,594,443.66 833,797,372.43
Interest payable 294,162.83 479,413.09
Dividends payable
Other accounts payable 122,249,614.03 128,243,079.68
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 one
121,243,352.00
year
Other current liabilities
Total current liabilities 2,956,967,724.71 1,999,449,750.43
Non-current liabilities:
Long-term borrowings 136,234,594.74 144,840,006.83
Bonds payable
Of which: Preference shares
Perpetual bonds
Long-term accounts payable
Long-term payroll payable
Special payables
Estimated liabilities 834,999.50 834,999.50
Deferred income 18,399,321.64 19,072,625.05
Deferred income tax liabilities 21,502.21 23,985.24
Other non-current liabilities 116,828,011.11 114,773,265.38
Total non-current liabilities 272,318,429.20 279,544,882.00
Total liabilities 3,229,286,153.91 2,278,994,632.43
Owners’ equity:
Share capital 595,979,092.00 595,979,092.00
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Report for the First Quarter of 2016 of Shenzhen Properties & Resources Development (Group) Ltd.
Other equity instruments
Of which: Preference shares
Perpetual bonds
Capital reserves 119,951,533.93 119,951,533.93
Less: Treasury stock
Other composite income -3,777,070.96 -4,046,603.46
Special reserves
Surplus reserves 154,664,631.59 154,664,631.59
Provisions for general risks
Retained profit 1,233,935,138.56 1,233,358,112.55
Total equity attributable to owners of
2,100,753,325.12 2,099,906,766.61
the Company
Minority interests 862,087.06 862,087.06
Total owners’ equity 2,101,615,412.18 2,100,768,853.67
Total liabilities and owners’ equity 5,330,901,566.09 4,379,763,486.10
Legal representative: Chen Yugang Person-in-charge of the accounting work: Wang Hangjun
Chief of the accounting division: Shen Xueying
2. Balance sheet of the Company
Unit: RMB
Item Closing balance Opening balance
Current Assets:
Monetary funds 464,036,915.58 296,196,656.86
Financial assets measured at fair
value with fair value changes included
in the profit and loss for the Reporting
Period
Derivative financial assets
Notes receivable
Accounts receivable 1,417,018.99 979,569.49
Accounts paid in advance 47,311,270.22
Interest receivable
Dividends receivable
Other accounts receivable 1,777,801,910.96 1,766,392,354.21
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Report for the First Quarter of 2016 of Shenzhen Properties & Resources Development (Group) Ltd.
Inventories 585,946,939.66 530,588,344.24
Assets held for sale
Non-current assets due within one
year
Other current assets 174,382,120.00 174,382,120.00
Total current assets 3,050,896,175.41 2,768,539,044.80
Non-current assets:
Available-for-sale financial assets 3,798,921.28 230,500.00
Held-to-maturity investments
Long-term accounts receivable
Long-term equity investments 281,733,589.74 281,083,438.39
Investment property 154,633,386.92 157,390,561.34
Fixed assets 9,521,776.69 9,828,388.19
Construction in progress
Engineering materials
Disposal of fixed assets
Productive living assets
Oil-gas assets
Intangible assets
R&D expense
Goodwill
Long-term deferred expenses 1,254,077.34 1,297,321.41
Deferred income tax assets 62,664,168.97 29,561,006.63
Other non-current assets
Total non-current assets 513,605,920.94 479,391,215.96
Total assets 3,564,502,096.35 3,247,930,260.76
Current liabilities:
Short-term borrowings
Financial liabilities measured at fair
value with fair value changes included
in the profit and loss for the Reporting
Period
Derivative financial liabilities
Notes payable
Accounts payable 25,404,621.13 25,436,021.13
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Report for the First Quarter of 2016 of Shenzhen Properties & Resources Development (Group) Ltd.
Accounts received in advance 1,022,072,045.35 311,717,646.30
Payroll payable 9,349,244.02 11,467,533.06
Taxes and fares payable 88,671,892.08 62,939,128.44
Interest payable 294,162.83 858,385.21
Dividends payable
Other accounts payable 1,014,149,808.38 1,163,240,004.88
Liabilities held for sale
Non-current liabilities due within one
year
Other current liabilities
Total current liabilities 2,159,941,773.79 1,575,658,719.02
Non-current liabilities:
Long-term borrowings 136,234,594.74 404,840,006.83
Bonds payable
Of which: Preference shares
Perpetual bonds
Long-term payables
Long-term payroll payables
Special payables
Estimated liabilities 834,999.50 834,999.50
Deferred income
Deferred income tax liabilities
Other non-current liabilities
Total non-current liabilities 137,069,594.24 405,675,006.33
Total liabilities 2,297,011,368.03 1,981,333,725.35
Owners’ equity:
Share capital 595,979,092.00 595,979,092.00
Other equity instruments
Of which: Preference shares
Perpetual bonds
Capital reserves 94,057,859.68 94,057,859.68
Less: Treasury stock
Other composite income
Special reserves
Surplus reserves 154,007,821.15 154,007,821.15
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Report for the First Quarter of 2016 of Shenzhen Properties & Resources Development (Group) Ltd.
Retained profit 423,445,955.49 422,551,762.58
Total owners’ equity 1,267,490,728.32 1,266,596,535.41
Total liabilities and owners’ equity 3,564,502,096.35 3,247,930,260.76
3. Consolidated income statement
Unit: RMB
Item January-March 2016 January-March 2015
1. Operating revenues 196,079,291.87 135,271,193.34
Including: Sales income 196,079,291.87 135,271,193.34
Interest income
Premium income
Handling charge and commission
income
2. Total operating costs 196,929,475.94 133,601,562.06
Including: Cost of sales 152,504,124.12 96,780,815.07
Interest expenses
Handling charge and commission
expenses
Surrenders
Net claims paid
Net amount provided as insurance
contract reserves
Expenditure on policy dividends
Reinsurance premium
Business tax and surtaxes 17,801,270.26 11,318,731.55
Selling expenses 7,399,801.43 3,613,799.88
Administrative expenses 21,323,784.82 24,803,739.93
Financial costs -2,099,504.69 -2,915,524.37
Asset impairment loss
Add: Profit/loss on fair value changes
(“-” means loss)
Profit/loss on investment (“-” means
650,151.35 309,996.43
loss)
Including: Share of profit in
650,151.35 309,996.43
associates and joint ventures
Foreign exchange profit (“-” means
loss)
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Report for the First Quarter of 2016 of Shenzhen Properties & Resources Development (Group) Ltd.
3. Operating profit (“-” means loss) -200,032.72 1,979,627.71
Add: Non-operating income 528,685.11 472,015.31
Including: Profit on disposal of
non-current assets
Less: Non-operating expense 101,501.06 431,724.89
Including: Loss on disposal of
6,300.00 2,775.00
non-current assets
4. Total profit (“-” means loss) 227,151.33 2,019,918.13
Less: Corporate income tax -349,874.68 1,663,553.21
5. Net profit (“-” means loss) 577,026.01 356,364.92
Net profit attributable to owners of
577,026.01 356,364.92
the Company
Minority shareholders’ income
6. After-tax net amount of other
269,532.50 871,986.62
composite income
After-tax net amount of other
composite income attributable to owners 269,532.50 871,986.62
of the Company
6.1 Other composite income that
will not be reclassified into profit and
loss
6.1.1 Changes in net liabilities
or assets with a defined benefit plan upon
re-measurement
6.1.2 Enjoyable share in other
comprehensive income in investees that
cannot be reclassified into profit and loss
under the equity method
6.2 Other composite income that
269,532.50 871,986.62
will be reclassified into profit and loss
6.2.1 Enjoyable share in other
composite income in investees that will
be reclassified into profit and loss under
the equity method
6.2.2 Profit and loss on fair
value changes of available-for-sale 1,064,250.00
financial assets
6.2.3 Profit and loss on
reclassifying held-to-maturity
investments into available-for-sale
financial assets
6.2.4 Effective hedging profit
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Report for the First Quarter of 2016 of Shenzhen Properties & Resources Development (Group) Ltd.
and loss on cash flow
6.2.5 Foreign-currency
269,532.50 -192,263.38
financial statement translation difference
6.2.6 Other
After-tax net amount of other
composite income attributable to
minority shareholders
7. Total composite income 846,558.51 1,228,351.54
Attributable to owners of the
846,558.51 1,228,351.54
Company
Attributable to minority
shareholders
8. Earnings per share
8.1 Basic earnings per share 0.0010 0.0006
8.2 Diluted earnings per share 0.0010 0.0006
Where business mergers under the same control occurred in the Reporting Period, net profit achieved by the merged parties before
the business mergers was RMB0.00, with the corresponding amount for the same period of last year being RMB0.00.
Legal representative: Chen Yugang Person-in-charge of the accounting work: Wang Hangjun
Chief of the accounting division: Shen Xueying
4. Income statement of the Company
Unit: RMB
Item January-March 2016 January-March 2015
1. Operating revenues 15,292,451.80 14,915,009.50
Less: Operating costs 3,419,740.17 4,099,248.03
Business tax and surtaxes 1,725,633.99 2,330,846.39
Selling expenses 3,277,882.91
Administrative expenses 7,209,987.15 10,495,132.76
Financial costs -713,887.76 -1,470,236.90
Asset impairment loss
Add: profit/loss on fair value changes
(“-” means loss)
Profit/loss on investment (“-”
650,151.35 309,996.43
means loss)
Including: Income from
investment on associates and joint 650,151.35 309,996.43
ventures
18
Report for the First Quarter of 2016 of Shenzhen Properties & Resources Development (Group) Ltd.
2. Operating profit (“-” means loss) 1,023,246.69 -229,984.35
Add: Non-operating income 117,725.98 11,021.20
Including: Profit on disposal of
non-current assets
Less: Non-operating expense 19,444.98 300,949.26
Including: Loss on disposal of
non-current assets
3. Total profit (“-” means loss) 1,121,527.69 -519,912.41
Less: Corporate income tax 227,334.78 -132,199.66
4. Net profit (“-” means loss) 894,192.91 -387,712.75
5. After-tax net amount of other
1,064,250.00
composite income
5.1 Other composite income that will
not be reclassified into profit and loss
5.1.1 Changes in net liabilities or
assets with a defined benefit plan upon
re-measurement
5.1.2 Enjoyable share in other
composite income in investees that
cannot be reclassified into profit and
loss under the equity method
5.2 Other composite income that will
1,064,250.00
be reclassified into profit and loss
5.2.1 Enjoyable share in other
composite income in investees that will
be reclassified into profit and loss under
the equity method
5.2.2 Profit and loss on fair value
changes of available-for-sale financial 1,064,250.00
assets
5.2.3 Profit and loss on
reclassifying held-to-maturity
investments into available-for-sale
financial assets
5.2.4 Effective hedging profit and
loss on cash flow
5.2.5 Foreign-currency financial
statement translation difference
5.2.6 Other
6. Total composite income 894,192.91 676,537.25
7. Earnings per share
19
Report for the First Quarter of 2016 of Shenzhen Properties & Resources Development (Group) Ltd.
7.1 Basic earnings per share 0.0015 -0.0007
7.2 Diluted earnings per share 0.0015 -0.0007
5. Consolidated cash flow statement
Unit: RMB
Item January-March 2016 January-March 2015
1. Operating cash flow:
Cash received from sale of
1,301,621,243.11 162,154,708.13
commodities and rendering of service
Net increase in money deposits from
customers and inter-bank placements
Net increase in loans from the
Central Bank
Net increase in funds borrowed from
other financial institutions
Cash received from premium of
original insurance contracts
Net cash received from reinsurance
business
Net increase in deposits of policy
holders and investment fund
Net increase in disposal of financial
assets measured at fair value with fair
value changes included in the profit
and loss for the Reporting Period
Cash received from interest,
handling charges and commissions
Net increase in loans from banks and
other financial institutions
Net increase in funds in repurchase
business
Tax refunds received
Other operating cash received 6,877,832.29 6,275,176.45
Subtotal of operating cash inflow 1,308,499,075.40 168,429,884.58
Cash paid for goods and services 195,339,492.13 170,577,537.78
Net increase in loans and advances
to customers
Net increase in funds deposited in
the Central Bank and inter-bank
placements
Cash for paying claims of original
insurance contracts
20
Report for the First Quarter of 2016 of Shenzhen Properties & Resources Development (Group) Ltd.
Cash for paying interest, handling
charges and commissions
Cash for paying policy dividends
Cash paid to and for employees 83,787,005.54 75,841,569.79
Taxes and fares paid 131,524,871.59 31,961,378.98
Other cash payment relating to
20,303,018.26 19,683,773.86
operating activities
Subtotal of operating cash outflow 430,954,387.52 298,064,260.41
Net operating cash flow 877,544,687.88 -129,634,375.83
2. Investment cash flow:
Cash received from retraction of
investments
Cash received from return on
investments
Net cash received from disposal of
fixed assets, intangible assets and other 41,000.00
long-term assets
Net cash received from disposal of
subsidiaries or other business units
Other cash received relating to
investment activities
Subtotal of investment cash inflow 41,000.00
Cash paid to acquire fixed assets,
intangible assets and other long-term 485,852.40 14,052,460.10
assets
Cash paid for investment
Net increase in pledged loans
Net cash paid to acquire subsidiaries
and other business units
Other cash payments relating to
investment activities
Subtotal of investment cash outflow 485,852.40 14,052,460.10
Net investment cash flow -485,852.40 -14,011,460.10
3. Financing cash flow:
Cash received from capital
contributions
Including: Cash received from
minority shareholder investments by
subsidiaries
Cash received as borrowings 15,441,282.23 19,653,000.00
21
Report for the First Quarter of 2016 of Shenzhen Properties & Resources Development (Group) Ltd.
Cash received from issuance of
bonds
Other financing cash received
Subtotal of financing cash inflow 15,441,282.23 19,653,000.00
Repayment of borrowings 153,290,046.32 75,000,000.00
Cash paid for interest expenses and
2,841,412.43 3,309,309.66
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 financing cash outflow 156,131,458.75 78,309,309.66
Net financing cash flow -140,690,176.52 -58,656,309.66
4. Effect of foreign exchange rate
-271,681.57 190,404.05
changes on cash and cash equivalents
5. Net increase in cash and cash
736,096,977.39 -202,111,741.54
equivalents
Add: Opening balance of cash and
933,337,815.77 808,963,376.68
cash equivalents
6. Closing balance of cash and cash
1,669,434,793.16 606,851,635.14
equivalents
6. Cash flow statement of the Company
Unit: RMB
Item January-March 2016 January-March 2015
1. Operating cash flow:
Cash received from sale of
722,610,355.07 13,539,030.00
commodities and rendering of service
Tax refunds received
Other operating cash received 29,676,176.69 68,204,999.96
Subtotal of operating cash inflow 752,286,531.76 81,744,029.96
Cash paid for goods and services 47,310,469.92 18,259,645.63
Cash paid to and for employees 6,366,025.58 3,939,084.93
Taxes and fares paid 57,955,972.62 11,479,164.15
Other operating cash payments 196,532,725.53 168,636,796.74
Subtotal of operating cash outflow 308,165,193.65 202,314,691.45
Net operating cash flow 444,121,338.11 -120,570,661.49
2. Investment cash flow:
22
Report for the First Quarter of 2016 of Shenzhen Properties & Resources Development (Group) Ltd.
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
investment activities
Subtotal of investment cash inflow
Cash paid to acquire fixed assets,
intangible assets and other long-term 6,297.00
assets
Cash paid for investment
Net cash paid to acquire subsidiaries
and other business units
Other investment cash payments
Subtotal of investment cash outflow 6,297.00
Net investment cash flow -6,297.00
3. Financing cash flow:
Cash received from capital
contributions
Cash received as borrowings 15,441,282.23 19,653,000.00
Cash received from issuance of
bonds
Other financing cash received
Subtotal of financing cash inflow 15,441,282.23 19,653,000.00
Repayment of borrowings 286,256,594.32
Cash paid for interest expenses and
5,465,767.30 5,092,216.46
distribution of dividends or profit
Other cash payments relating to
financing activities
Sub-total of financing cash outflow 291,722,361.62 5,092,216.46
Net financing cash flow -276,281,079.39 14,560,783.54
4. Effect of foreign exchange rate
changes on cash and cash equivalents
5. Net increase in cash and cash
167,840,258.72 -106,016,174.95
equivalents
23
Report for the First Quarter of 2016 of Shenzhen Properties & Resources Development (Group) Ltd.
Add: Opening balance of cash and
296,196,656.86 338,036,109.52
cash equivalents
6. Closing balance of cash and cash
464,036,915.58 232,019,934.57
equivalents
II Auditor’s report
Is this Report audited?
□ Yes √ No
This Report is not audited.
24
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