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深深房B:2021年第三季度报告(英文版) 下载公告
公告日期:2021-10-26

Stock Code: 000029, 200029 Stock Name: SPG, SPG-B Announcement No.: 2021-046SHENZHEN SPECIAL ECONOMIC ZONE REAL ESTATE

& PROPERTIES (GROUP) CO., LTD.THIRD QUARTERLY REPORT 2021

Important Notes:

1. The Board of Directors, the Supervisory Committee as well as the directors, supervisors and seniormanagement of the Company hereby guarantee that the contents of this Report are true, accurate and complete andfree of any misrepresentations, misleading statements or material omissions, and collectively and individuallyaccept legal responsibility for such contents.

2. The Company’s legal representative, Chief Financial Officer, and head of the Company’s 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 IndicatorsIndicate whether there is any retrospectively restated datum in the table below.

□ Yes √ No

Shenzhen Special Economic Zone Real Estate & Properties (Group) Co., Ltd. (hereinafter referred to as the“Company”) and all the members of the Company’s Board of Directors hereby guarantee that the contents of thisReport are true, accurate and complete and free of any misrepresentations, misleading statements or materialomissions.

Q3 2021YoY change (%)Q1-Q3 2021YoY change (%)
Operating revenue (RMB)272,065,605.11-56.22%966,663,823.58-20.61%
Net profit attributable to the listed company’s shareholders (RMB)29,640,906.70-70.82%163,539,812.93-17.75%
Net profit attributable to the listed company’s shareholders before exceptional gains and losses (RMB)29,576,289.10-70.78%162,466,061.77-17.87%
Net cash generated from/used in operating activities (RMB)————-1,264,096,374.55-1,397.71%
Basic earnings per share (RMB/share)0.1004-4.47%0.1617-17.71%
Diluted earnings per share (RMB/share)0.1004-4.47%0.1617-17.71%
Weighted average return on equity (%)0.77%-1.99%4.26%-8.48%
30 September 202131 December 2020Change (%)
Total assets (RMB)6,181,890,175.114,936,916,746.7425.22%
Equity attributable to the listed company’s shareholders (RMB)3,873,072,154.753,797,512,488.221.99%

(II) Exceptional Gains and Losses

√ Applicable □ Not applicable

Unit: RMB

ItemQ3 2021Q1-Q3 2021Note
Non-operating income and expense other than the above86,156.801,431,668.21
Less: Income tax effects21,539.20357,917.05
Total64,617.601,073,751.16--

Other items that meet the definition of exceptional gain/loss:

□ Applicable √ Not applicable

No such cases in the Reporting Period.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

√ Applicable □ Not applicable

Unit: RMB

Key income statement itemQ1-Q3 2021Q1-Q3 2020Change (%)Reason for change
Operating revenue966,663,823.581,217,660,802.78-20.61%Decrease in carryforwards of property sales
Marketing expense31,229,738.1049,259,539.14-36.60%Adjustment to the marketing pace
Finance costs-17,527,527.04-6,794,077.29-157.98%Increase in interest income
Return on investment1,889,160.4715,816,818.60-88.06%Decrease in income from investments in wealth management products
Key cash flow statement itemQ1-Q3 2021Q1-Q3 2020Change (%)Reason for change
Net cash generated from/used in operating activities-1,264,096,374.5597,409,818.45-1397.71%Payment for land
Net cash generated from/used in investing activities-951,251,423.491,020,818,810.32193.19%Purchase of monetary funds
Net cash generated from/used in financing activities243,164,282.22-166,923,900.00245.67%Project company’s receipt of loan from minority shareholder
Key balance sheet statement30 September 202131 December 2020Change (%)Reason for change
Monetary assets702,463,353.842,687,465,070.01-73.86%Purchase of monetary funds and payment for land
Inventories3,977,470,978.351,220,464,112.56225.90%Increase in property development projects
Accounts payable100,660,778.43176,926,614.28-43.11%Payment for engineering service
Contract liabilities322,759,572.82196,786,977.1964.01%Increase in property pre-sale revenue

II Shareholder Information

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

Unit: share

Number of ordinary shareholders57,265Number of preference shareholders with resumed voting rights (if any)0
Top 10 shareholders
Name of shareholderNature of shareholderShareholding percentageTotal shares heldRestricted shares heldShares in pledge, marked or frozen
StatusShares
Shenzhen Investment Holdings Co., Ltd.State-owned corporation57.19%578,595,836
Shenzhen State-Owned Equity Operation and Management Co., Ltd.Domestic non-state-owned legal person6.35%64,288,426
Yang JianminDomestic natural person0.37%3,766,777
Pan JunDomestic natural person0.32%3,254,300
Lin WeirongDomestic natural person0.31%3,128,600
Wang YulanDomestic natural person0.23%2,288,391
Liu YuqingDomestic natural person0.21%2,100,201
Shenzhen Bao'an Songgang Huamei Industry CompanyDomestic non-state-owned legal person0.18%1,835,300
Zang XiangfengDomestic natural person0.16%1,614,363
He QiaoDomestic natural person0.16%1,575,000
Top 10 unrestricted shareholders
Name of shareholderUnrestricted shares heldShares by type
TypeShares
Shenzhen Investment Holdings Co., Ltd.578,595,836RMB-denominated ordinary stock578,595,836
Shenzhen State-Owned Equity Operation and Management Co., Ltd.64,288,426RMB-denominated ordinary stock64,288,426
Yang Jianmin3,766,777RMB-denominated ordinary stock3,766,777
Pan Jun3,254,300RMB-denominated ordinary stock3,254,300
Lin Weirong3,128,600RMB-denominated ordinary stock3,128,600
Wang Yulan2,288,391RMB-denominated ordinary stock2,288,391
Liu Yuqing2,100,201RMB-denominated ordinary stock2,100,201
Shenzhen Bao'an Songgang Huamei Industry Company1,835,300RMB-denominated ordinary stock1,835,300
Zang Xiangfeng1,614,363RMB-denominated ordinary stock1,614,363
He Qiao1,575,000RMB-denominated ordinary stock1,575,000
Related or acting-in-concert parties among the shareholders aboveAmong the top 10 shareholders of the Company, Shenzhen State-Owned Equity Operation and Management Co., Ltd. is the wholly-owned subsidiary of Shenzhen Investment Holdings Co., Ltd. The Company does
not know whether there exists related-party relationship among the other shareholders, or whether they are persons acting in concert as prescribed in the Administrative Measures for the Acquisition of Listed Companies.
Top 10 shareholders engaged in securities margin trading (if any)Among the top 10 shareholders, the third shareholder holds 1,466,400 shares of the Company in his credit security account; the fifth shareholder holds 1,969,900 shares of the Company in his credit security account; the seventh shareholder holds 2,010,201 shares of the Company in his credit security account; the eighth shareholder holds 1,835,300 shares of the Company in its credit security account; the ninth shareholder holds 1,600,663 shares of the Company in its credit security account; the tenth shareholder holds 1,279,600 shares of the Company in his credit security account.

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

□ Applicable √ Not applicable

III Other Significant Events

√ Applicable □ Not applicable

The Measures for the Management of Employees' Co-investment and the Measures for the Management of Employees'Co-investment of Linxijun Project were deliberated and approved at the 63rd Meeting of the 7th Board of Directors and the 2021First Extraordinary General Meeting. For more details, see the Announcement on Resolutions of the 63rd Meeting of the 7th Boardof Directors (Announcement No. 2021-023) and the Announcement on Resolutions of the 2021 First Extraordinary General Meetingof Shareholders (Announcement No. 2021-026) disclosed on 1 July and 17 July 2021. During the Reporting Period, theco-investment employees followed the investment in projects through establishing a partnership enterprise and completed thepayment of co-investment subscription funds.During the Reporting Period, the Company received the Letter of Commitment on Avoiding Horizontal Competition from thecontrolling shareholder Shenzhen Investment Holdings Co., Ltd. which took effect since 27 September 2021. For more details, seethe Announcement on Receiving the Letter of Commitment on Avoiding Horizontal Competition from the Controlling Shareholder(Announcement No. 2021-032) disclosed by the Company on 11 September 2021 and the Announcement on Resolutions of the 2021First Extraordinary General Meeting (Announcement No. 2021-34) disclosed by ShenZhen Properties & Resources Development(Group) Ltd. on 27 September 2021.In June 2021, the Company purchased wealth management products with its own funds of RMB1.3 billion. For more details, see theAnnouncement on Progress of Purchasing Wealth Management Products with its Own Funds (Announcement No. 2021-022)disclosed by the Company on 4 June 2021. Above wealth management products have been partly redeemed during the ReportingPeriod. For more details, see the Announcement on Progress of Purchasing Wealth Management Products with its Own Funds(Announcement No. 2021-036) disclosed by the Company on 24 September 2021.On 28 September 2021, the Company participated in the land use right assignment activity through quotation held by the Land andMining Rights Business Branch of Shenzhen Exchange Group Co., Ltd., and won the use right of No. A511-0039 state-owned landwith RMB965 million. For more details, see the Announcement on Winning the Bid of State-Owned Land Use Right (AnnouncementNo. 2021-039) disclosed by the Company on 30 September 2021.

IV Quarterly Financial Statements(I) Financial Statements

1. Consolidated Balance Sheet

Prepared by ShenZhen Special Economic Zone Real Estate & Properties (Group) Co., Ltd.

30 September 2021

Unit: RMB

Item30 September 202131 December 2020
Current assets:
Monetary assets702,463,353.842,687,465,070.01
Settlement reserve
Loans to other banks and financial institutions
Held-for-trading financial assets510,767,599.33
Derivative financial assets
Notes receivable11,114,994.9535,438,045.34
Accounts receivable55,993,577.8659,590,944.06
Receivables financing
Prepayments11,517,698.853,205,534.51
Premiums receivable
Reinsurance receivables
Receivable reinsurance contract reserve
Other receivables16,225,307.0932,745,043.84
Including: Interest receivable
Dividends receivable1,052,192.761,052,192.76
Financial assets purchased under resale agreements
Inventories3,977,470,978.351,220,464,112.56
Contract assets
Assets held for sale
Current portion of non-current assets
Other current assets128,265,569.09102,907,134.79
Total current assets5,413,819,079.364,141,815,885.11
Non-current assets:
Loans and advances to customers
Debt investments
Other debt investments
Long-term receivables
Long-term equity investments377,489.65377,489.65
Investments in other equity instruments37,811,287.0537,510,860.51
Other non-current financial assets
Investment property596,946,146.28616,365,621.53
Fixed assets26,322,494.0028,039,978.43
Construction in progress
Productive living assets
Oil and gas assets
Right-of-use assets
Intangible assets
Development costs
Goodwill
Long-term prepaid expense1,235,547.1661,667.53
Deferred income tax assets105,378,131.61112,745,243.98
Other non-current assets
Total non-current assets768,071,095.75795,100,861.63
Total assets6,181,890,175.114,936,916,746.74
Current liabilities:
Short-term borrowings52,261,448.2876,893,995.94
Borrowings from the central bank
Loans from other banks and financial
institutions
Held-for-trading financial liabilities
Derivative financial liabilities
Notes payable309,963,085.83
Accounts payable100,660,778.43176,926,614.28
Advances from customers7,234,825.015,940,092.15
Contract liabilities322,759,572.82196,786,977.19
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 payable56,949,499.3360,467,834.09
Taxes and levies payable534,560,448.32459,709,646.95
Other payables600,816,147.79277,105,129.74
Including: Interest payable16,535,277.9416,535,277.94
Dividends payable
Fees and commissions payable
Reinsurance payables
Liabilities directly associated with assets held for sale
Current portion of non-current liabilities
Other current liabilities16,052,821.068,917,027.07
Total current liabilities2,001,258,626.871,262,747,317.41
Non-current liabilities:
Insurance contract reserve
Long-term borrowings
Bonds payable
Including: Preference shares
Perpetual bonds
Lease liabilities
Long-term payables7,714,318.047,480,233.43
Long-term employee benefits payable
Provisions
Deferred income
Deferred income tax liabilities9,601,940.749,601,940.74
Other non-current liabilities
Total non-current liabilities17,316,258.7817,082,174.17
Total liabilities2,018,574,885.651,279,829,491.58
Owners’ equity:
Share capital1,011,660,000.001,011,660,000.00
Other equity instruments
Including: Preference shares
Perpetual bonds
Capital reserves978,244,910.11978,244,910.11
Less: Treasury stock
Other comprehensive income28,197,323.7328,163,050.13
Specific reserve
Surplus reserves218,724,273.67218,724,273.67
General reserve
Retained earnings1,636,245,647.241,560,720,254.31
Total equity attributable to owners of the Company as the parent3,873,072,154.753,797,512,488.22
Non-controlling interests290,243,134.71-140,425,233.06
Total owners’ equity4,163,315,289.463,657,087,255.16
Total liabilities and owners’ equity6,181,890,175.114,936,916,746.74

Legal representative: Liu Zhengyu Chief Financial Officer: Wang Jianfei Head of the financial department: Qiao Yanjun

2. Consolidated Income Statement for Q1~Q3

Unit: RMB

ItemQ1~Q3 2021Q1~Q3 2020
1. Revenues966,663,823.581,217,660,802.78
Including: Operating revenue966,663,823.581,217,660,802.78
Interest income
Insurance premium income
Fee and commission income
2. Costs and expenses758,251,988.28960,778,486.08
Including: Cost of sales487,064,303.36605,566,564.44
Interest expense
Fee and commission expense
Surrenders
Net insurance claims paid
Net amount provided as insurance contract reserve
Expenditure on policy dividends
Reinsurance premium expense
Taxes and levies198,738,261.87256,360,411.16
Selling expense31,229,738.1049,259,539.14
Administrative expense58,747,211.9956,386,048.63
R&D expense
Finance costs-17,527,527.04-6,794,077.29
Including: Interest expense
Interest income17,610,476.407,502,105.11
Add: Other income1,139,049.16948,216.96
Return on investment (“-” for loss)1,889,160.4715,816,818.60
Including: Share of profit or loss of joint ventures and associates
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)8,571,018.86
Credit impairment loss (“-” for loss)1,167,580.27
Asset impairment loss (“-” for loss)534,500.00
Asset disposal income (“-” for loss)
3. Operating profit (“-” for loss)221,178,644.06274,181,852.26
Add: Non-operating income1,587,259.373,428,723.89
Less: Non-operating expense155,591.162,073,834.53
4. Gross profit (“-” for loss)222,610,312.27275,536,741.62
Less: Income tax expense60,786,470.6376,660,884.16
5. Net profit (“-” for net loss)161,823,841.64198,875,857.46
5.1 By operating continuity
5.1.1 Net profit from continuing operations (“-” for net loss)161,823,841.64198,875,857.46
5.1.2 Net profit from discontinued operations (“-” for net loss)
5.2 By ownership
5.2.1 Net profit attributable to owners of the Company as the parent163,539,812.93198,840,278.63
5.2.1 Net profit attributable to non-controlling interests-1,715,971.2935,578.83
6. Other comprehensive income, net of tax434,659.62-5,938,704.24
Attributable to owners of the Company as the parent34,273.60-6,275,302.44
6.1 Items that will not be reclassified to profit or loss300,426.54-4,528,691.88
6.1.1 Changes caused by remeasurements on defined benefit schemes
6.1.2 Other comprehensive income that will not be reclassified to profit or loss under the equity method
6.1.3 Changes in the fair value of investments in other equity instruments300,426.54-4,528,691.88
6.1.4 Changes in the fair value arising from changes in own credit risk
6.1.5 Other
6.2 Items that will be reclassified to profit or loss-266,152.94-1,746,610.56
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-denominated financial statements-266,152.94-1,746,610.56
6.2.7 Other
Attributable to non-controlling interests400,386.02336,598.20
7. Total comprehensive income162,258,501.26192,937,153.22
Attributable to owners of the Company as the parent163,574,086.53192,564,976.19
Attributable to non-controlling interests-1,315,585.27372,177.03
8. Earnings per share
8.1 Basic earnings per share0.16170.1965
8.2 Diluted earnings per share0.16170.1965

Where business combinations under common control occurred in the current period, the net profit achieved by the acquirees beforethe combinations was RMB0.00, with the amount for the same period of last year being RMB0.00.Legal representative: Liu Zhengyu Chief Financial Officer: Wang Jianfei Head of the financial department: Qiao Yanjun

3. Consolidated Cash Flow Statement for Q1~Q3

Unit: RMB

ItemQ1~Q3 2021Q1~Q3 2020
1. Cash flows from operating activities:
Proceeds from sale of commodities and rendering of services1,193,484,545.481,264,810,543.01
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
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 rebates36,956.0530,184.28
Cash generated from other operating activities291,631,335.69189,648,016.53
Subtotal of cash generated from operating activities1,485,152,837.221,454,488,743.82
Payments for commodities and services1,960,830,478.99335,093,891.09
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 employees109,899,447.97112,729,873.31
Taxes and levies paid259,655,231.62604,692,731.70
Cash used in other operating activities418,864,053.19304,562,429.27
Subtotal of cash used in operating activities2,749,249,211.771,357,078,925.37
Net cash generated from/used in operating activities-1,264,096,374.5597,409,818.45
2. Cash flows from investing activities:
Proceeds from disinvestment1,000,000,000.00
Return on investment1,889,160.4720,917,568.22
Net proceeds from the disposal of fixed assets, intangible assets and other long-lived assets1,700.001,000.00
Net proceeds from the disposal of subsidiaries and other business units
Cash generated from other investing activities797,803,419.53
Subtotal of cash generated from investing activities799,694,280.001,020,918,568.22
Payments for the acquisition of fixed assets, intangible assets and other long-lived assets1,063,945.3499,757.90
Payments for investments
Net increase in pledged loans granted
Net payments for the acquisition of subsidiaries and other business units449,881,758.15
Cash used in other investing activities1,300,000,000.00
Subtotal of cash used in investing activities1,750,945,703.4999,757.90
Net cash generated from/used in investing activities-951,251,423.491,020,818,810.32
3. Cash flows from financing activities:
Capital contributions received
Including: Capital contributions by non-controlling interests to subsidiaries
Borrowings received
Cash generated from other financing activities331,178,702.21
Subtotal of cash generated from financing activities331,178,702.210.00
Repayment of borrowings
Interest and dividends paid88,014,419.99166,923,900.00
Including: Dividends paid by subsidiaries to non-controlling interests
Cash used in other financing activities
Subtotal of cash used in financing activities88,014,419.99166,923,900.00
Net cash generated from/used in financing activities243,164,282.22-166,923,900.00
4. Effect of foreign exchange rates changes on cash and cash equivalents-34,837.73-366,192.25
5. Net increase in cash and cash equivalents-1,972,218,353.55950,938,536.52
Add: Cash and cash equivalents, beginning of the period2,669,103,926.821,507,189,760.35
6. Cash and cash equivalents, end of the period696,885,573.272,458,128,296.87

(II) Adjustments to the Financial Statements

1. Adjustments to the Financial Statements at the Beginning of the First Execution Year of the NewStandards Governing Leases from 2021

√ Applicable □ Not applicable

Whether the Company needs to adjust items in the balance sheet at the beginning of the year

□ Yes √ No

The reason for not adjusting balance sheet account at the beginning of the year:

In accordance with the provisions of the new leasing standards, from 1 January 2021, the group chooses to recognize right-of-useassets and lease liabilities for all leased assets at the present value of the minimum lease payment for future rent payable, with theexception of simplified short-term leases and leases of low-value assets, and to recognize depreciation and interest expensesrespectively, without adjusting the information for comparable periods. In practice, there are not many leased assets within the group,which is the main reason to simplify short-term leases and leases of low-value assets and no longer recognize its right-of-use assetsand lease liabilities.

2. Retrospective Restatement of Previous Comparative Data due to the First Execution of the NewStandards Governing Leases from 2021

□ Applicable √ Not applicable

(III) Independent Auditor’s ReportIndicate 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 DirectorsShenZhen Special Economic Zone Real Estate & Properties (Group) Co., Ltd.25 October 2021


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