深物业B:2024年第三季度报告(英文)

查股网  2024-10-31  深物业A(000011)公司公告

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

SHENZHEN PROPERTIES & RESOURCES DEVELOPMENT

(GROUP) LTD.THIRD QUARTERLY REPORT 2024

ShenZhen Properties & Resources Development (Group) Ltd. (hereinafter referred to as the“Company”) and all the members of the Company’s Board of Directors hereby guaranteethat the contents of this Report are true, accurate and complete and free of anymisrepresentations, misleading statements or material omissions.Important Notes:

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

2. The Company’s legal representative, head of financial affairs, and head of the financial department (equivalent to financialmanager) 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

Q3 2024YoY change (%)Q1-Q3 2024YoY change (%)
Operating revenue (RMB)461,778,206.82-11.51%1,317,806,652.07-45.71%
Net profit attributable to the listed company’s shareholders (RMB)-5,631,440.84-153.90%3,581,016.97-98.45%
Net profit attributable to the listed company’s shareholders before exceptional gains and losses (RMB)-2,115,855.29-118.82%7,623,172.68-96.72%
Net cash generated from/used in operating activities (RMB)-1,752,947,755.94-86.56%
Basic earnings per share (RMB/share)-0.0094-153.90%0.0060-98.45%
Diluted earnings per share (RMB/share)-0.0094-153.90%0.0060-98.45%
Weighted average return on equity (%)-0.13%-0.37%0.08%-5.14%
30 September 202431 December 2023YoY change (%)
Total assets (RMB)16,116,648,356.9316,988,062,068.09-5.13%
Equity attributable to the listed company’s shareholders4,478,948,594.894,661,810,328.75-3.92%

(RMB)

(II) Exceptional Gains and Losses? Applicable □ Not applicable

Unit: RMB

ItemQ3 2024Q1-Q3 2024Note
Gain or loss on disposal of non-current assets (inclusive of impairment allowance write-offs)-4,662.2721,393.70
Government grants recognised in profit or loss (exclusive of those that are closely related to the Company's normal business operations and given in accordance with defined criteria and in compliance with government policies, and have a continuing impact on the Company's profit or loss)100,000.00344,448.00One-time government grants received
Non-operating income and expense other than the above-4,331,440.37-4,288,762.26Payment of compensation
Other items that meet the definition of exceptional gain/loss19,035.81-834,439.22Adjustment of the VAT deduction accrued in the previous year
Less: Income tax effects-707,263.75-871,750.65
Non-controlling interests effects (net of tax)5,782.48156,546.58
Total-3,515,585.56-4,042,155.71--

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

? Applicable □ Not applicableSince the VAT deduction preferential policy is valid until 31 December 2023, and this benefit does not have a continuing impacton the Company’s profit or loss, the adjustment to this matter in 2024 based on the actual number of declaration is included inexceptional gain/loss.Explanation of why the Company reclassifies as recurrent an exceptional gain/loss item listed in the Explanatory AnnouncementNo. 1 on Information Disclosure for Companies Offering Their Securities to the Public—Exceptional Gain/Loss Items:

□Applicable ? Not applicable

No such cases in the Reporting Period.(III) Changes in Key Financial Statement Line Items and Explanation of why

? Applicable □ Not applicable

Balance sheet line items30 September 20241 January 2024Change (%)Main reasons for the change
Monetary assets1,170,874,731.752,748,798,476.72-57.40%Repayment of maturing borrowings, payment of dividends and taxes
Construction in progress20,276,462.770.00100.00%Expenditures related to the renovation and upgrading project of the ITC Mall
Short-term borrowings140,043,375.00230,915,000.00-39.35%Repayment of short-term borrowings
Accounts payable326,460,550.08662,869,059.59-50.75%Decreased payables for engineering
Advances from customers432,097.722,265,223.56-80.92%Decreased rental advances received
Income statemnet line itemsQ1~Q3 2024Q1~Q3 2023Change (%)Main reasons for the change
Operating revenue1,317,806,652.072,427,326,213.70-45.71%Decreased real estate income carry-over in the current period
Cost of sales1,051,029,215.221,747,100,763.88-39.84%Decreased real estate cost carry-over in the current period
Taxes and levies17,723,090.0487,090,867.91-79.65%Higher provisions for land value added tax in the same period of last year
Selling expense14,719,330.0725,371,890.23-41.99%Decreased payment of sales agency fees in the current period
Finance costs25,895,734.2036,018,607.75-28.10%Increased interest income in the current period
Other income3,084,106.209,328,789.60-66.94%Decreased VAT deduction in the current period
Return on investment54,220.872,711,324.32-98.00%Decreased return on joint venture investments in the current period

Non-operatingexpense

Non-operating expense5,081,894.893,590,801.0841.53%Increased payment of compensation in the current period
Income tax expense1,220,320.3885,692,317.44-98.58%Decreased gross profit in the current period
Other comprehensive income - Changes in the fair value of investments in other equity instruments-187,279.28-309,668.9639.52%Changes in the fair value of investments in other equity instruments
Other comprehensive income - Differences arising from the translation of foreign currency-denominated financial statements-309,994.851,890,614.71-116.40%Exchange rate fluctuations
Cash flow statement line itemsQ1~Q3 2024Q1~Q3 2023Change (%)Main reasons for the change
Net cash generated from/used in operating activities-1,752,947,755.94-939,639,052.92-86.56%Decreased cash inflows and increased payment of taxes in the current period
Net cash generated189,441,247.34431,226,026.33-56.07%Decreased new bank loans and increased repayment of maturing borrowings in the current period

from/used infinancingactivities

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 shareholders at the period-end40,688Number of preferred shareholders with resumed voting rights at the period-end (if any)0
Top 10 shareholders (exclusive of shares lent in refinancing)
Name of shareholderNature of shareholderShareholding percentageTotal shares heldRestricted shares heldShares in pledge, marked or frozen
StatusShares
Shenzhen Investment Holdings CorporationState-owned corporation50.87%303,144,937.001,733,626N/A0
Shenzhen State-Owned Equity Operation and Management Co., Ltd.Domestic non-state-owned legal person6.38%38,037,890.000.00N/A0
China Orient Asset Management Co., Ltd.State-owned legal person2.77%16,491,402.000.00N/A0
Industrial and Commercial Bank of China Limited-Southern China Securities Full Index Real Estate Trading Open-ended Index Securities Investment FundOther0.50%2,996,834.000.00N/A0
Hong Kong Securities Clearing Company Ltd.Foreign legal person0.43%2,538,542.000.00N/A0
Yang YaochuDomestic natural person0.33%1,970,484.000.00N/A0
Duan ShaotengDomestic natural person0.30%1,760,565.000.00N/A0
Li XinyiDomestic natural person0.25%1,500,000.000.00N/A0
Mai FurongDomestic natural person0.21%1,248,596.000.00N/A0
China Universal Asset Management Co., Ltd.-Social Security Fund 1103 PortfolioOther0.21%1,229,200.000.00N/A0
Top 10 unrestricted shareholders (exclusive of shares lent in refinancing and locked shares of executives)
Name of shareholderUnrestricted shares heldShares by class and number
ClassShares
Shenzhen Investment Holdings Corporation301,411,311.00RMB-denominated ordinary stock301,411,311.00
Shenzhen State-Owned Equity38,037,890.00RMB-38,037,890.00
Operation and Management Co., Ltd.denominated ordinary stock
China Orient Asset Management Co., Ltd.16,491,402.00RMB-denominated ordinary stock16,491,402.00
Industrial and Commercial Bank of China Limited-Southern China Securities Full Index Real Estate Trading Open-ended Index Securities Investment Fund2,996,834.00RMB-denominated ordinary stock2,996,834.00
Hong Kong Securities Clearing Company Ltd.2,538,542.00RMB-denominated ordinary stock2,538,542.00
Yang Yaochu1,970,484.00Domestically listed foreign stock1,970,484.00
Duan Shaoteng1,760,565.00RMB-denominated ordinary stock1,760,565.00
Li Xinyi1,500,000.00RMB-denominated ordinary stock1,500,000.00
Mai Furong1,248,596.00Domestically listed foreign stock1,248,596.00
China Universal Asset Management Co., Ltd.-Social Security Fund 1103 Portfolio1,229,200.00RMB-denominated ordinary stock1,229,200.00
Related or acting-in-concert parties among the shareholders aboveThe first largest shareholder, Shenzhen Investment Holding Corporation, is the actual controlling shareholder of the Company and Shenzhen State-Owned Equity Operation and Management Co., Ltd. And the Company does not know whether there are related parties or acting-in-concert parties among the other 8 shareholders.
Top 10 ordinary shareholders involved in securities margin trading (if any)At the end of the Reporting Period, among above shareholders, Duan Shaoteng held 1,760,565 shares in the Company via his credit securities account.

5% or greater shareholders, top 10 shareholders and Top 10 unrestricted shareholders involved in refinancing shares lending

□Applicable ? Not applicable

Changes in top 10 shareholders and top 10 unrestricted shareholders due to refinancing shares lending/return compared with theprior period

□Applicable ? Not applicable

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

□Applicable ? Not applicable

III Other Significant Events

? Applicable □ Not applicable(I) Matters concerning the application of the controlling shareholder of the Company to change the commitment to avoidhorizontal competitionDuring the Reporting Period, the Company received the Letter on Changing the Commitment to Avoid Horizontal Competitionfrom its controlling shareholder Shenzhen Investment Holdings Co., Ltd. (“SIHC”), which applied for a change of thecommitment to avoid horizontal competition. This matter was reviewed and approved at the 29

th Meeting of the 10

th

Board of

Directors and the 24

th Meeting of the 10

th

Supervisory Committee on 30 September 2024, and voted on and approved at the 2

nd

Extraordinary General Meeting of 2024. For more details, please refer to the Announcement on the Application of the ControllingShareholder of the Company to Change the Commitment to Avoid Horizontal Competition (Announcement No.: 2024-40) and theAnnouncement on Resolutions of the 2

nd

Extraordinary General Meeting of 2024 (Announcement No.: 2024-47) disclosed by theCompany respectively on 30 September 2024 and 19 October 2024.(II) Matters concerning the change of independent directors of the CompanyDuring the Reporting Period, Mr. Mei Yonghong, an independent director of the Company, having served as an independentdirector of the Company for six consecutive years, applied for resignation as an independent director and other functions in therelevant special committee of the Board of Directors in accordance with the Measures for the Administration of IndependentDirectors of Listed Companies and other laws and regulations and the Articles of Association of the Company in respect of theterm service of independent directors, and will no longer serve in any position of the Company after his resignation. In accordancewith the provisions of the Articles of Association of the Company, the Company held the 29

th

Meeting of the 10

thBoard ofDirectors and the 2

ndExtraordinary General Meeting of 2024 respectively on 30 September 2024 and 18 October 2024, to elect Mr.Song Shaohua as an independent director of the Company, with a term of office commencing from the date of the election at thegeneral meeting of the Company to the date of expiry of the term of office of the 10

thBoard of Directors of the Company. Formore details, please refer to the Announcement on the Proposed Appointment of Independent Director of the Company(Announcement No.: 2024-41) and the Announcement on Resolutions of the 2

nd

Extraordinary General Meeting of 2024(Announcement No.: 2024-47) disclosed by the Company on Cninfo respectively on 30 September 2024 and 19 October 2024.

IV Quarterly Financial Statements(I) Financial Statements

1. Consolidated Balance Sheet

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

Unit: RMB

Item30 September 20241 January 2024
Current assets:
Monetary assets1,170,874,731.752,748,798,476.72
Settlement reserve
Loans to other banks and financial institutions
Held-for-trading financial assets
Derivative financial assets
Notes receivable0.000.00
Accounts receivable573,078,564.98502,806,453.88
Receivables financing
Prepayments10,550,677.0011,983,086.35
Premiums receivable
Reinsurance receivables
Receivable reinsurance contract reserve
Other receivables610,702,450.97624,394,372.82
Including: Interest receivable0.000.00
Dividends receivable0.000.00
Financial assets purchased under resale agreements
Inventories11,731,778,948.9111,098,209,095.74
Including: Data resource
Contract assets679,507.91844,485.57
Assets held for sale
Current portion of non-current assets
Other current assets153,487,198.41127,774,825.51
Total current assets14,251,152,079.9315,114,810,796.59
Non-current assets:
Loans and advances to customers
Debt investments
Other debt investments
Long-term receivables0.000.00
Long-term equity investments84,018,516.4084,057,750.55
Investments in other equity instruments453,691.24636,926.20
Other non-current financial assets
Investment property342,288,348.42386,810,800.47
Fixed assets55,421,604.2366,436,408.90
Construction in progress20,276,462.77
Productive living assets
Oil and gas assets
Right-of-use assets17,708,439.8223,516,796.22
Intangible assets663,400.98889,801.14
Including: Data resource
Development costs
Including: Data resource
Goodwill9,446,847.389,446,847.38
Long-term prepaid expense23,862,981.5021,510,397.88
Deferred income tax assets1,307,238,731.541,276,440,386.83
Other non-current assets4,117,252.723,505,155.93
Total non-current assets1,865,496,277.001,873,251,271.50
Total assets16,116,648,356.9316,988,062,068.09
Current liabilities:
Short-term borrowings140,043,375.00230,915,000.00
Borrowings from the central bank
Loans from other banks and financial institutions
Held-for-trading financial liabilities
Derivative financial liabilities
Notes payable
Accounts payable326,460,550.08662,869,059.59
Advances from customers432,097.722,265,223.56
Contract liabilities848,861,366.40820,424,953.42
Financial assets sold under repurchase agreements
Customer deposits and deposits from other banks and financial institutions
Payables for acting trading of securities
Payables for underwriting of securities
Employee benefits payable176,800,027.17218,786,111.78
Taxes and levies payable3,141,139,402.054,026,957,347.94
Other payables1,231,829,931.531,217,303,294.25
Including: Interest payable0.000.00
Dividends payable12,202,676.0412,202,676.04
Fees and commissions payable
Reinsurance payables
Liabilities directly associated with assets held for sale
Current portion of non-current liabilities3,463,584,975.133,092,324,853.07
Other current liabilities70,650,676.8768,373,661.13
Total current liabilities9,399,802,401.9510,340,219,504.74
Non-current liabilities:
Insurance contract reserve
Long-term borrowings1,664,017,417.811,399,889,274.47
Bonds payable
Including: Preference shares
Perpetual bonds
Lease liabilities11,579,700.9110,571,092.27
Long-term payables399,799,725.00400,105,655.56
Long-term employee benefits payable0.000.00
Provisions650,000.00650,000.00
Deferred income0.000.00
Deferred income tax liabilities4,223,623.415,862,279.70
Other non-current liabilities125,794,473.92127,039,225.54
Total non-current liabilities2,206,064,941.051,944,117,527.54
Total liabilities11,605,867,343.0012,284,337,032.28
Owners’ equity:
Share capital595,979,092.00595,979,092.00
Other equity instruments
Including: Preference shares
Perpetual bonds
Capital reserves80,488,045.3880,488,045.38
Less: Treasury stock0.000.00
Other comprehensive income-3,849,612.01-3,352,337.88
Specific reserve
Surplus reserves116,108,727.08116,108,727.08
General reserve
Retained earnings3,690,222,342.443,872,586,802.17
Total equity attributable to owners of the Company as the parent4,478,948,594.894,661,810,328.75
Non-controlling interests31,832,419.0441,914,707.06
Total owners’ equity4,510,781,013.934,703,725,035.81
Total liabilities and owners’ equity16,116,648,356.9316,988,062,068.09

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

2. Consolidated Income Statement for Q1~Q3

Unit: RMB

ItemQ1~Q3 2024Q1~Q3 2023
1. Revenues1,317,806,652.072,427,326,213.70
Including: Operating revenue1,317,806,652.072,427,326,213.70
Interest income
Insurance premium income
Fee and commission income
2. Costs and expenses1,303,226,108.882,110,887,625.76
Including: Cost of sales1,051,029,215.221,747,100,763.88
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 levies17,723,090.0487,090,867.91
Selling expense14,719,330.0725,371,890.23
Administrative expense189,973,110.10211,898,457.07
Development costs3,885,629.253,407,038.92
Finance costs25,895,734.2036,018,607.75
Including: Interest expense51,686,194.3645,973,455.32
Interest income28,730,546.0211,814,704.84
Add: Other income3,084,106.209,328,789.60
Return on investment (“-” for loss)54,220.872,711,324.32
Including: Share of profit or loss of joint ventures and associates54,220.872,711,324.32
Income from the derecognition of financial assets at amortized cost (“-” for loss)
Exchange gain (“-” for loss)
Net gain on exposure hedges (“-” for loss)
Gain on changes in fair value (“-” for loss)
Credit impairment loss (“-” for loss)-17,886,806.82-13,788,622.51
Asset impairment loss (“-” for loss)-5,858.652,045.93
Asset disposal income (“-” for loss)21,393.70793,144.88
3. Operating profit (“-” for loss)-152,401.51315,485,270.16
Add: Non-operating income740,343.21907,106.27
Less: Non-operating expense5,081,894.893,590,801.08
4. Gross profit (“-” for loss)-4,493,953.19312,801,575.35
Less: Income tax expense1,220,320.3885,692,317.44
5. Net profit (“-” for net loss)-5,714,273.57227,109,257.91
5.1 By operating continuity
5.1.1 Net profit from continuing operations (“-” for net loss)-5,714,273.59227,047,902.08
5.1.2 Net profit from discontinued operations (“-” for net loss)0.0061,355.83
5.2 By ownership
5.2.1 Net profit attributable to shareholders of the Company as the parent (“-” for net loss)3,581,016.97231,351,500.28
5.2.2 Net profit attributable to non-controlling interests (“-” for net loss)-9,295,290.54-4,242,242.37
6. Other comprehensive income, net of tax-497,274.131,580,945.75
Attributable to owners of the Company as the parent-497,274.131,580,945.75
6.1 Items that will not be reclassified to profit or loss-187,279.28-309,668.96
6.1.1 Changes caused by remeasurements on defined benefit schemes0.000.00
6.1.2 Other comprehensive income that will not be reclassified to profit or loss under the equity method0.000.00
6.1.3 Changes in the fair value of investments in other equity instruments-187,279.28-309,668.96
6.1.4 Changes in the fair value arising from changes in own credit risk0.000.00
6.1.5 Other0.000.00
6.2 Items that will be reclassified to profit or loss-309,994.851,890,614.71
6.2.1 Other comprehensive income that will be reclassified to profit or loss under the equity method
6.2.2 Changes in the fair value of other debt investments
6.2.3 Other comprehensive income arising from the reclassification of financial assets
6.2.4 Credit impairment allowance for other debt investments
6.2.5 Reserve for cash flow hedges
6.2.6 Differences arising from the translation of foreign currency-denominated financial statements-309,994.851,890,614.71
6.2.7 Other
Attributable to non-controlling interests0.000.00
7. Total comprehensive income-6,211,547.70228,690,203.66
7.1 Attributable to owners of the Company as the parent3,083,742.84232,932,446.03
7.2 Attributable to non-controlling interests-9,295,290.54-4,242,242.37
8. Earnings per share
8.1 Basic earnings per share0.00600.3882
8.2 Diluted earnings per share0.00600.3882

Where business combinations under common control occurred in the current period, the net profit achieved by the acquirees beforethe combinations was RMB , with the amount for the same period of last year being RMB .Legal representative: Liu Shengxiang Head of financial affairs: Cai LiliHead of the financial department: Cai Kelin

3. Consolidated Cash Flow Statement for Q1~Q3

Unit: RMB

ItemQ1~Q3 2024Q1~Q3 2023
1. Cash flows from operating activities:
Proceeds from sale of commodities and rendering of services1,504,896,063.821,722,297,276.09
Net increase in customer deposits and deposits from other banks and financial institutions
Net increase in borrowings from the central bank
Net increase in loans from other financial institutions
Premiums received on original insurance contracts
Net proceeds from reinsurance
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 rebates24,277,962.3814,416,704.33
Cash generated from other operating activities383,809,134.20240,994,365.07
Subtotal of cash generated from operating activities1,912,983,160.401,977,708,345.49
Payments for commodities and services1,645,567,147.641,746,506,968.56
Net increase in loans and advances to customers
Net increase in deposits in the central bank and other banks and financial institutions
Payments for claims on original insurance contracts
Net increase in loans to other banks and financial institutions
Interest, fees and commissions paid
Policy dividends paid
Cash paid to and for employees724,656,482.09723,393,519.67
Taxes and levies paid1,010,315,431.85224,226,839.66
Cash used in other operating activities285,391,854.76223,220,070.52
Subtotal of cash used in operating activities3,665,930,916.342,917,347,398.41
Net cash generated from/used in operating activities-1,752,947,755.94-939,639,052.92
2. Cash flows from investing activities:
Proceeds from disinvestment
Return on investment93,455.0263,120.00
Net proceeds from the disposal of fixed assets, intangible assets and other long-lived assets39,273.5078,255.52
Net proceeds from the disposal of subsidiaries and other business units
Cash generated from other investing activities
Subtotal of cash generated from investing activities132,728.52141,375.52
Payments for the acquisition of fixed assets, intangible assets and other long-lived assets7,083,504.384,084,842.48
Payments for investments0.001,816,919.56
Net increase in pledged loans granted
Net payments for the acquisition of subsidiaries and other business units
Cash used in other investing activities
Subtotal of cash used in investing activities7,083,504.385,901,762.04
Net cash generated from/used in investing activities-6,950,775.86-5,760,386.52
3. Cash flows from financing activities:
Capital contributions received0.000.00
Including: Capital contributions by0.000.00
non-controlling interests to subsidiaries
Borrowings received773,984,805.34841,843,775.18
Cash generated from other financing activities
Subtotal of cash generated from financing activities773,984,805.34841,843,775.18
Repayment of borrowings222,133,410.0832,326,662.00
Interest and dividends paid334,438,123.69357,864,492.62
Including: Dividends paid by subsidiaries to non-controlling interests245,000.00245,000.00
Cash used in other financing activities27,972,024.2320,426,594.23
Subtotal of cash used in financing activities584,543,558.00410,617,748.85
Net cash generated from/used in financing activities189,441,247.34431,226,026.33
4. Effect of foreign exchange rates changes on cash and cash equivalents-550,567.841,642,658.54
5. Net increase in cash and cash equivalents-1,571,007,852.30-512,530,754.57
Add: Cash and cash equivalents, beginning of the period2,733,139,135.121,509,693,857.48
6. Cash and cash equivalents, end of the period1,162,131,282.82997,163,102.91

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

□ Applicable ? Not applicable

(III) Independent Auditor’s Report

Indicate by tick mark whether the financial statements above have been audited by an independent auditor.

□Yes ? No

These financial statements have not been audited by such an auditor.

Board of DirectorsShenzhen Properties & Resources Development (Group) Ltd.

31 October 2024


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