ShenZhen Properties & Resources Development (Group) Ltd. First Quarter Report 2018 (Short Version)
Stock Symbol: 000011, 200011 Stock Name: SZPRD A, SZPRD B Announcement No.: 2018-11
SHENZHEN PROPERTIES & RESOURCES DEVELOPMENT (GROUP) LTD.
FIRST QUARTER REPORT 2018 (SHORT VERSION)
ShenZhen Properties & Resources Development (Group) Ltd. First Quarter Report 2018 (Short Version)
Part I Important Notes
The Board of Directors (or the “Board”), the Supervisory Board as well as the Directors,
Supervisors and senior management of ShenZhen Properties & Resources Development
(Group) Ltd. (inclusive of its consolidated subsidiaries, the “Company”; exclusive of its
subsidiaries, the “Parent Company”, except where the context otherwise requires) hereby
guarantee the factuality, accuracy and completeness of the contents of this Report, and shall
be jointly and severally liable for any misrepresentations, misleading statements or material
omissions in this Report.
All the Company’s Directors have attended the Board meeting for the review of this Report.
Chen Yugang, the Company’s legal representative, Wang Hangjun, the Company’s head of
financial affairs, and Shen Xueying, head of the Company’s financial department (equivalent
to financial manager) hereby guarantee that the Financial Statements carried in this Report
are factual, accurate and complete.
This Report has been prepared in both Chinese and English. Should there be any
discrepancies or misunderstandings between the two versions, the Chinese version shall
prevail.
ShenZhen Properties & Resources Development (Group) Ltd. First Quarter Report 2018 (Short Version)
Part II Key Corporate Information
I Key Financial Information
Indicate by tick mark whether there is any retrospectively restated datum in the table below.
□ Yes √ No
January-March 2018 January-March 2017 Change
Sales revenue (RMB) 544,366,414.09 1,038,683,462.42 -47.59%
Net income attributable to shareholders of
53,456,824.88 301,597,814.36 -82.28%
the listed company (RMB)
Net income attributable to shareholders of
the listed company before nonrecurring 53,039,124.57 301,333,394.74 -82.40%
gains and losses (RMB)
Net cash flows from operating activities
-96,704,935.74 -252,974,419.19 -61.77%
(RMB)
Basic earnings per share (RMB/share) 0.0897 0.5061 -82.28%
Diluted earnings per share (RMB/share) 0.0897 0.5061 -82.28%
Weighted average return on equity (%) 1.81% 11.77% -9.96%
March 31, 2018 December 31, 2017 Change
Total assets (RMB) 4,952,479,502.71 5,393,331,548.87 -8.17%
Equity attributable to shareholders of the
2,977,280,648.84 2,921,693,794.08 1.90%
listed company (RMB)
Nonrecurring gains and losses:
√ Applicable □ Not applicable
Unit: RMB
Item January-March 2018 Note
Gains and losses on disposal of non-current assets (inclusive of
-20,561.94
offset allowance for asset impairments)
Non-operating revenue and expense other than above 577,175.10
Less: Income tax effects 138,912.85
Total 417,700.31 --
Explanation of why the Company classifies an item as a nonrecurring gain/loss according to the definition in the Explanatory
Announcement No. 1 on Information Disclosure for Companies Offering Their Securities to the Public—Nonrecurring Gains and
Losses, or reclassifies any nonrecurring gain/loss item listed in the said explanatory announcement as a recurring gain/loss:
□ Applicable √ Not applicable
No such cases for the Reporting Period.
ShenZhen Properties & Resources Development (Group) Ltd. First Quarter Report 2018 (Short Version)
II Total Number of Shareholders and Top 10 Shareholders’ Holdings at Period-End
1. Numbers of Common Shareholders and Preferred Shareholders with Resumed Voting Rights as well as
Holdings of Top 10 Shareholders
Unit: share
Preferred shareholders with
Common shareholders at
47,299 resumed voting rights at
period-end
period-end (if any)
Top 10 shareholders
Shareholding Pledged or frozen shares
Name of Nature of
percentage at Shares Restricted shares
shareholder shareholder Status Shares
period-end (%)
Shenzhen
Construction
State-owned
Investment 54.33% 323,796,324 293,997,370
juridical person
Holdings
Corporation
Shenzhen
Investment State-owned
9.49% 56,582,573 56,582,573
Management juridical person
Corporation
State-owned
Du Xinye 0.65% 3,880,800
juridical person
Domestic natural
Zhou Qun 0.52% 3,115,450
person
Domestic natural
Du Yunfeng 0.39% 2,323,000
person
Shenzhen
Duty-Free Domestic
Commodity non-state-owned 0.29% 1,730,300 1,730,300
Enterprises Co., juridical person
Ltd.
Domestic natural
Yang Yaochu 0.24% 1,410,620
person
Domestic natural
Li Jing 0.20% 1,176,740
person
Domestic natural
Mai Furong 0.19% 1,130,500
person
Chen Liying Domestic natural 0.16% 953,521
ShenZhen Properties & Resources Development (Group) Ltd. First Quarter Report 2018 (Short Version)
person
Top 10 non-restricted shareholders
Type of shares
Name of shareholder Non-restricted shares held at period-end
Type Shares
Shenzhen Construction Investment RMB common
29,798,954 29,798,954
Holdings Corporation stock
RMB common
Du Xinye 3,880,800 3,880,800
stock
RMB common
Zhou Qun 3,115,450 3,115,450
stock
RMB common
Du Yunfeng 2,323,000 2,323,000
stock
Domestically
Yang Yaochu 1,410,620 listed stock for 1,410,620
foreign investors
Domestically
Li Jing 1,176,740 listed stock for 1,176,740
foreign investors
Domestically
Mai Furong 1,130,500 listed stock for 1,130,500
foreign investors
Domestically
Chen Liying 953,521 listed stock for 953,521
foreign investors
RMB common
Zhang Shaoming 729,300 729,300
stock
Wuhan Xingkaiyuan Electrical RMB common
700,000 700,000
Power Engineering Co., Ltd stock
The first and second principal shareholders of the Company are managed by Shenzhen
Related or acting-in-concert parties Investment Holding Corporation, the actual controlling shareholder of the Company. And the
among shareholders above Company does not know whether there are related parties or acting-in-concert parties among
the other 8 shareholders.
Shareholders conducting securities
N/A
margin trading (if any)
Indicate by tick mark whether any of the top 10 common shareholders or the top 10 non-restricted common shareholders of the
Company conducted any promissory repo during the Reporting Period.
□ Yea √ No
No such cases in the Reporting Period.
ShenZhen Properties & Resources Development (Group) Ltd. First Quarter Report 2018 (Short Version)
2. Number of Preferred Shareholders and Shareholdings of Top 10 of Them
□ Applicable √ Not applicable
ShenZhen Properties & Resources Development (Group) Ltd. First Quarter Report 2018 (Short Version)
Part III Significant Events
I Changes in Selected Financial Statement Items and Explanation of why
√ Applicable □ Not applicable
1. Other accounts receivable stood at RMB23,732,485.54 at the end of the Reporting Period, down by 74.02%
from the opening amount, mainly because of the collection of the final payment from the share transfer of two taxi
service subsidiaries in the Reporting Period.
2. The advances from customers stood at RMB131,168,812.43 at the end of the Reporting Period, down by
74.63% from the opening amount, mainly because of the carry-over of the advances from customers for property
sales available for carry-over in the Reporting Period.
3. Other comprehensive income stood at RMB-1,981,557.26 at the end of the Reporting Period, up by 51.81%
from the opening amount, mainly because of the increase of the differences arising from translation of foreign
currency-denominated financial statements caused by changes in foreign exchange rates.
4. The sales revenue realized by the Company in the Reporting Period stood at RMB544,366,414.09, down by
47.59% from the same period of last year, mainly because of the dramatic decrease of revenues from real estate
business caused by the slump of the average settlement price for various projects.
5. The cost of sales in the Reporting Period stood at RMB465,535,043.55, up by 77.38% from the same period of
last year, mainly because of the increase of the project settlement area.
6. The taxes and surtaxes of the Company in the Reporting Period stood at RMB4,305,000.94, down by 98.78%
from the same period of last year, mainly because of the dramatic decrease of the increment tax on land value
caused by the slump of the gross profit rate of projects settled in the Reporting Period
7. The selling expense of the Company in the Reporting Period stood at RMB2,237,799.47, down by 54.82% from
the same period of last year, mainly because of the decrease of paid sales agent fees and service charges caused by
the reduction of sales realized in the Reporting Period.
8. The finance costs of the Company in the Reporting Period stood at RMB-18,926,710.87, the income (negative)
was up by 162.12%, mainly because of the increase of interest revenue in the Reporting Period.
9. The asset impairment losses of the Company in the Reporting Period stood at RMB0.00, the asset impairment
losses of the same period of last year was of RMB-233,280.00, mainly because of the return of accounts
receivable of the same period of last year which were accrued bad debt provision by aging analysis method into
bad debt provision.
10. Both the investment income realized by the Company and the investment income in joint ventures and
associates in the Reporting Period were RMB-280,948.37, both down by 132.31% from the same period of last
year, mainly because of the reduction of revenues realized by joint ventures of the Company in the Reporting
Period.
11. The net non-operating revenue of the Company in the Reporting Period stood at RMB556,613.16, up by
83.54% from the same period of last year, mainly because of the increase of confiscated income in the Reporting
Period.
12. The income tax expense of the Company in the Reporting Period stood at RMB17,958,805.45, down by
82.03% from the same period of last year, mainly because of the reduction of profits realized by the Company in
ShenZhen Properties & Resources Development (Group) Ltd. First Quarter Report 2018 (Short Version)
the Reporting Period.
13. The operating income, pretax income and net income (attributable to the Parent Company) realized by the
Company in the Reporting Period respectively stood at RMB70,859,017.17, RMB71,415,630.33, and
RMB53,456,824.88, respectively down by 82.34%, 82.21% and 82.28%, mainly because of the decrease of
income arising from real estate business realized by the Company in the Reporting Period and because of the
slump of gross profit rate of projects settled
14. Other comprehensive income, net of tax, of the Company in the Reporting Period stood at RMB2,130,029.88,
up by 426.07% from the same period of last year, mainly because of the increase of the differences arising from
translation of foreign currency-denominated financial statements caused by changes in foreign exchange rates.
15. The net cash flows from operating activities of the Company in the Reporting Period stood at
RMB-96,704,935.74, the net outflow (negative) was down by 61.77% from the same period of last year, mainly
because of the decrease of taxes paid by the Company in the Reporting Period.
16. The net cash flows from investing activities of the Company in the Reporting Period stood at
RMB75,616,212.09, up by 51239.71% from the same period of last year, mainly because of the collection of the
final payment for the share transfer of two taxi service subsidiaries in the Reporting Period.
17. The net increase in cash and cash equivalents of the Company in the Reporting Period stood at
RMB-23,171,492.09, the net outflow (negative) was down by 90.86% from the same period of last year, mainly
because of the reduction of the taxes paid by the Company in the Reporting Period.
II Progress, Influence and Solutions Associated with Significant Events
□ Applicable √ Not applicable
III Commitments that the Company’s Actual Controller, Shareholders, Related Parties and
Acquirers, as well as the Company and Other Commitment Makers, Failed to Fulfill on Time
during Reporting Period
□ Applicable √ Not applicable
No such cases in the Reporting Period.
IV Operating Result Forecast for January-June 2018
Warning of a forecast loss on or a forecast significant year-over-year change in net income for January-June 2018, as well as
explanation of why:
□ Applicable √ Not applicable
V Securities Investments
√ Applicable □ Not applicable
Initial Opening Closing Gain/loss
Symbol Opening Closing Closing
Variety of Name of investmen holding holding in Accounti
book
of holding holding Reporting Source
security security t cost percentag percentag value ng title
Period
security (share) (share) (RMB)
(RMB) e e (RMB)
ShenZhen Properties & Resources Development (Group) Ltd. First Quarter Report 2018 (Short Version)
Available Obtained
2,991,975 2,991,975 -for-sale in debt
Stock 400016 Gintian A 1,431,567 0.43% 1,431,567 0.43%
.03 .03 financial restructur
asset ing
Available Obtained
573,881.0 599,234.1 -for-sale in debt
Stock 420016 Gintian B 539,455 0.16% 539,455 0.16%
3 7 financial restructur
asset ing
3,565,856 3,591,209
Total 1,971,022 -- 1,971,022 -- 0.00 -- --
.06 .20
Disclosure date of
announcement on Board’s
consent for securities
investment
Disclosure date of
announcement on shareholders’
meeting’s consent for securities
investment (if any)
VI Investments in Derivative Financial Instruments
□ Applicable √ Not applicable
No such cases in the Reporting Period.
VII Visits Paid to the Company for Purposes of Research, Communication, Interview, etc.
during Reporting Period
√ Applicable □ Not applicable
Date of visit Way of visit Type of visitor About
January 5, 2018 SZSE EasyIR Individual Inquired of the situations of land auction
Inquired of the sales and land banking of
January 11, 2018 SZSE EasyIR Individual
Front Sea Project
Inquired of the future development strategy
January 11, 2018 By phone Individual
of the Company
Inquired of the overviews of Golden Collar’s
January 12, 2018 SZSE EasyIR Individual
Resort Project
Inquired of the business development of the
January 18, 2018 SZSE EasyIR Individual
Company
January 26, 2018 SZSE EasyIR Individual Inquired of the bank landing of the Company
January 31, 2018 By phone Individual Inquired of the earnings forecast of the
ShenZhen Properties & Resources Development (Group) Ltd. First Quarter Report 2018 (Short Version)
annual report of the Company
Inquired of the operation and stocks’ price
February 1, 2018 By phone Individual
trend of the Company
Inquired of the situations of land in Meilin of
February 2, 2018 SZSE EasyIR Individual
the Company
Inquired of the stocks’ price trend of the
February 7, 2018 By phone Individual
Company
Inquired of the stock price and performance
February 8, 2018 SZSE EasyIR Individual
of the Company
Inquired of the disclosure of annual report of
February 8, 2018 SZSE EasyIR Individual
the Company
Inquired of lifting the ban for restricted
February 11, 2018 SZSE EasyIR Individual
shares
Inquired of the development plan between
February 12, 2018 SZSE EasyIR Individual Guangdong-Hong Kong-Macao Bay Area
and the Company
Inquired of the advices for dividends scheme
February 14, 2018 SZSE EasyIR Individual
of the Company
Inquired of the investment plan between
March 6, 2018 SZSE EasyIR Individual Guangdong-Hong Kong-Macao Bay Area
and the Company
Inquired of the measures of state-owned
March 9, 2018 SZSE EasyIR Individual
enterprises reform
Inquired of the land banking and future
March 19, 2018 SZSE EasyIR Individual
planning of the Company
Inquired of the plan for state-owned
March 23, 2018 SZSE EasyIR Individual enterprises reform and the restricted shares
of major shareholders of the Company
VIII Irregularities in Provision of Guarantees for External Parties
□ Applicable √ Not applicable
No such cases in the Reporting Period.
IX Occupation of the Company’s Money by Its Controlling Shareholder or Related Parties
for Non-Operating Purposes
□ Applicable √ Not applicable
No such cases in the Reporting Period.
