深深房B：2024年第一季度报告(英文)

深深房B：2024年第一季度报告(英文)

查股网  2024-04-27  深深房Ａ(000029)公司公告

Stock Code: 000029, 200029 Stock Name: SPG, SPG-B Announcement No.: 2024-015

SHENZHEN SPECIAL ECONOMIC ZONE REAL ESTATE

& PROPERTIES (GROUP) CO., LTD.FIRST QUARTERLY REPORT 2024

Shenzhen Special Economic Zone Real Estate & Properties (Group) Co., Ltd. (hereinafter referred to as the “Company”) and allthe members of the Company’s Board of Directors hereby guarantee that the contents of this Report are true, accurate andcomplete and free of any misrepresentations, 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 theCompany hereby guarantee that the contents of this Report are true, accurate and complete and free of any misrepresentations,misleading statements or material omissions, and collectively and individually accept legal responsibility for such contents.

2. The Company’s legal representative, Chief Financial Officer, and head of the Company’s financial department (equivalent tofinancial 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

This Report has been prepared in both Chinese and English. Should there be any discrepancies or misunderstandings between thetwo versions, the Chinese version shall prevail.

I Key Financial Information(I) Key Accounting Data and Financial Indicators

Indicate whether there is any retrospectively restated datum in the table below.

□Yes ? No

Q1 2024Q1 2023YoY change (%)
Operating revenue (RMB)59,214,773.99109,155,515.74-45.75%
Net profit attributable to the listed company’s shareholders (RMB)1,896,582.37-35,653,798.52105.32%
Net profit attributable to the listed company’s shareholders before exceptional gains and losses (RMB)-3,975,227.45-37,833,791.4889.49%
Net cash generated from/used in operating activities (RMB)-90,276,362.78-183,238,769.3350.73%
Basic earnings per share (RMB/share)0.0019-0.0352105.40%
Diluted earnings per share (RMB/share)0.0019-0.0352105.40%
Weighted average return on equity (%)0.05%-0.89%0.94%
31 March 202431 December 2023Change (%)
Total assets (RMB)6,472,600,397.416,485,312,507.46-0.20%
Equity attributable to the listed company’s shareholders (RMB)3,694,337,301.883,691,082,484.200.09%

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

Unit: RMB

ItemQ1 2024Note
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)82,894.69Government grants received
Gain or loss on fair-value changes in financial assets and liabilities held by a non-financial enterprise, as well as on disposal of financial assets and liabilities (exclusive of the effective portion of hedges that is related to the Company's normal business operations)5,106,767.14Gains on changes in fair value and investment income arising from investing monetary funds
Non-operating income and expense other than the above937,544.79
Less: Income tax effects255,109.87
Non-controlling interests effects (net of tax)286.93
Total5,871,809.82--

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 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 applicableOperating revenue of Q1 2024 declined 45.75% compared to that of Q1 2023, primarily driven by the YoY decrease incarryforward of real estate sales in Q1 2024;

The net profit attributable to the listed company’s shareholders of Q1 2024 rose 105.32% compared to that of Q1 2023 and the netprofit attributable to the listed company’s shareholders before exceptional gains and losses of Q1 2024 rose 89.49% compared tothat of Q1 2023, primarily driven by the payment of land tax increment clearance in Q1 2023;The net cash generated from/used in operating activities of Q1 2024 rose 50.73% compared to that of Q1 2023, primarily drivenby the payment of taxes including land tax increment clearance in Q1 2023.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 shareholders42,215Number of preference shareholders with resumed voting rights (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 Co., Ltd.State-owned corporation55.78%564,353,8380N/A0
Shenzhen State-Owned Equity Operation and Management Co., Ltd.Domestic non-state-owned legal person6.35%64,288,4260N/A0
Yang JianminDomestic natural person1.17%11,836,8170N/A0
Zhang XiujuanDomestic natural person0.47%4,760,4000N/A0
Wang YulanDomestic natural person0.46%4,612,9910N/A0
Hong Kong Securities Clearing Company Ltd.Foreign legal person0.42%4,220,8120N/A0
Pan JunDomestic natural person0.39%3,900,8000N/A0
He QiaoDomestic natural person0.34%3,488,8860N/A0
Wang ZhengyingDomestic natural person0.29%2,918,1000N/A0
Zhang ZiDomestic natural person0.26%2,582,3000N/A0
Top 10 unrestricted shareholders
Name of shareholderUnrestricted shares heldShares by type
TypeShares
Shenzhen Investment Holdings Co., Ltd.564,353,838RMB-denominated ordinary stock564,353,838
Shenzhen State-Owned Equity Operation and Management Co., Ltd.64,288,426RMB-denominated ordinary stock64,288,426
Yang Jianmin11,836,817RMB-denominated ordinary stock11,836,817
Zhang Xiujuan4,760,400RMB-denominated ordinary stock4,760,400
Wang Yulan4,612,991RMB-denominated ordinary stock4,612,991
Hong Kong Securities Clearing Company Ltd.4,220,812RMB-denominated ordinary stock4,220,812
Pan Jun3,900,800RMB-denominated ordinary stock3,900,800
He Qiao3,488,886RMB-denominated ordinary stock3,332,000
Domestically listed foreign stock156,886
Wang Zhengying2,918,100RMB-denominated ordinary stock2,918,100
Zhang Zi2,582,300RMB-denominated ordinary stock2,582,300
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 9,804,200 shares of the Company in his credit security account; the fourth shareholder holds 4,760,400 shares of the Company in his credit security account; the eighth shareholder holds 3,332,000 shares of the Company in her credit security account; the ninth shareholder holds 2,918,100 shares of the Company in its credit security account; the tenth shareholder holds 2,496,600 shares of the Company in its credit security 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

IV Quarterly Financial Statements

(I) Financial Statements

1. Consolidated Balance Sheet

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

31 March 2024

Unit: RMB

Item31 March 20241 January 2024
Current assets:
Monetary assets776,922,977.91871,019,268.83
Settlement reserve
Loans to other banks and financial institutions
Held-for-trading financial assets884,446,969.06879,340,201.92
Derivative financial assets
Notes receivable
Accounts receivable66,143,524.5475,100,970.83
Receivables financing
Prepayments4,344,639.33409,192.07
Premiums receivable
Reinsurance receivables
Receivable reinsurance contract reserve
Other receivables14,235,445.3215,893,736.28
Including: Interest receivable
Dividends receivable
Financial assets purchased under resale agreements
Inventories3,955,218,101.473,915,215,921.96
Including: Data resource
Contract assets14,046,925.5627,352,596.92
Assets held for sale
Current portion of non-current assets
Other current assets149,973,935.3687,175,263.06
Total current assets5,865,332,518.555,871,507,151.87
Non-current assets:
Loans and advances to customers
Debt investments
Other debt investments
Long-term receivables
Long-term equity investments
Investments in other equity instruments14,408,205.2814,324,411.35
Other non-current financial assets
Investment property535,251,798.97541,542,136.17
Fixed assets19,637,272.5719,928,049.77
Construction in progress
Productive living assets
Oil and gas assets
Right-of-use assets66,427.6799,641.48
Intangible assets
Including: Data resource
Development costs
Including: Data resource
Goodwill
Long-term prepaid expense1,406,573.191,598,305.56
Deferred income tax assets36,497,601.1836,312,811.26
Other non-current assets
Total non-current assets607,267,878.86613,805,355.59
Total assets6,472,600,397.416,485,312,507.46
Current liabilities:
Short-term borrowings13,999,285.743,550,000.00
Borrowings from the central bank
Loans from other banks and financial institutions
Held-for-trading financial liabilities
Derivative financial liabilities
Notes payable
Accounts payable428,512,143.15443,259,768.78
Advances from customers6,093,186.17420,724.30
Contract liabilities1,301,731,844.321,291,448,591.28
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 payable19,371,484.4722,247,017.36
Taxes and levies payable36,811,363.6040,908,986.48
Other payables553,757,650.82554,469,229.59
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 liabilities33,597,037.7434,056,347.93
Other current liabilities116,696,198.18136,364,529.76
Total current liabilities2,510,570,194.192,526,725,195.48
Non-current liabilities:
Insurance contract reserve
Long-term borrowings179,431,851.02179,431,851.02
Bonds payable
Including: Preference shares
Perpetual bonds
Lease liabilities
Long-term payables
Long-term employee benefits payable
Provisions
Deferred income
Deferred income tax liabilities3,012,566.533,012,566.54
Other non-current liabilities
Total non-current liabilities182,444,417.55182,444,417.56
Total liabilities2,693,014,611.742,709,169,613.04
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 income26,677,694.7525,319,459.44
Specific reserve
Surplus reserves275,253,729.26275,253,729.26
General reserve
Retained earnings1,402,500,967.761,400,604,385.39
Total equity attributable to owners of the Company as the parent3,694,337,301.883,691,082,484.20
Non-controlling interests85,248,483.7985,060,410.22
Total owners’ equity3,779,585,785.673,776,142,894.42
Total liabilities and owners’ equity6,472,600,397.416,485,312,507.46

Legal representative: Tang Xiaoping Chief Financial Officer: Wang Jianfei Head of the financial department: Zhou Hongpu

2. Consolidated Income Statement

Unit: RMB

ItemQ1 2024Q1 2023
1. Revenues59,214,773.99109,155,515.74
Including: Operating revenue59,214,773.99109,155,515.74
Interest revenue
Insurance premium income
Fee and commission income
2. Costs and expenses63,423,984.41151,818,346.49
Including: Cost of sales48,166,371.70101,079,794.15
Interest costs
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 levies516,150.1433,875,290.78
Selling expense2,651,973.363,955,020.34
Administrative expense13,852,276.5113,032,486.78
R&D expense
Finance costs-1,762,787.30-124,245.56
Including: Interest costs325,124.92
Interest revenue2,156,560.88384,410.44
Add: Other income82,894.69118,084.21
Return on investment (“-” for loss)161,491.79
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)5,106,767.141,944,039.97
Credit impairment loss (“-” for loss)187.9381,350.00
Asset impairment loss (“-” for loss)
Asset disposal income (“-” for loss)
3. Operating profit (“-” for loss)980,639.34-40,357,864.78
Add: Non-operating income937,728.423,000.01
Less: Non-operating expense183.6320,894.08
4. Gross profit (“-” for loss)1,918,184.13-40,375,758.85
Less: Income tax expense379,717.35-3,923,657.55
5. Net profit (“-” for net loss)1,538,466.78-36,452,101.30
5.1 By operating continuity
5.1.1 Net profit from continuing operations (“-” for net loss)1,538,466.78-36,452,101.30
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 parent1,896,582.37-35,653,798.52
5.2.1 Net profit attributable to non-controlling interests-358,115.59-798,302.78
6. Other comprehensive income, net of tax1,904,424.472,639,673.73
Attributable to owners of the Company as the parent1,358,235.311,899,597.20
6.1 Items that will not be reclassified to profit or loss83,793.931,899,597.20
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 instruments83,793.931,899,597.20
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 loss1,274,441.38
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 statements1,274,441.38
6.2.7 Other
Attributable to non-controlling interests546,189.16740,076.53
7. Total comprehensive income3,442,891.25-33,812,427.57
Attributable to owners of the Company as the parent3,254,817.68-33,754,221.89
Attributable to non-controlling interests188,073.57-58,205.68
8. Earnings per share
8.1 Basic earnings per share0.0019-0.0352
8.2 Diluted earnings per share0.0019-0.0352

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: Tang Xiaoping Chief Financial Officer: Wang Jianfei Head of the financial department: Zhou Hongpu

3. Consolidated Cash Flow Statement

Unit: RMB

ItemQ1 2024Q1 2023
1. Cash flows from operating activities:
Proceeds from sale of commodities and rendering of services86,201,937.0381,910,853.47
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 rebates2,095,384.411,186,861.59
Cash generated from other operating activities5,726,470.8412,468,006.72
Subtotal of cash generated from operating activities94,023,792.2895,565,721.78
Payments for commodities and services43,335,521.6442,338,057.79
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 employees18,318,175.3221,566,505.36
Taxes and levies paid69,611,045.56162,889,235.25
Cash used in other operating activities53,035,412.5452,010,692.71
Subtotal of cash used in operating activities184,300,155.06278,804,491.11
Net cash generated from/used in operating activities-90,276,362.78-183,238,769.33
2. Cash flows from investing activities:
Proceeds from disinvestment
Return on investment
Net proceeds from the disposal of fixed assets, intangible assets and other long-lived assets3,000.00
Net proceeds from the disposal of subsidiaries and other business units
Cash generated from other investing activities136,800,000.00
Subtotal of cash generated from investing activities0.00136,803,000.00
Payments for the acquisition of fixed assets, intangible assets and other long-lived assets33,225.0357,988.92
Payments for investments
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 activities33,225.0357,988.92
Net cash generated from/used in investing activities-33,225.03136,745,011.08
3. Cash flows from financing activities:
Capital contributions received
Including: Capital contributions by non-controlling interests to subsidiaries
Borrowings received23,000,000.00
Cash generated from other financing activities
Subtotal of cash generated from financing activities23,000,000.00
Repayment of borrowings
Interest and dividends paid2,130,696.57754,516.80
Including: Dividends paid by subsidiaries to non-controlling interests
Cash used in other financing activities
Subtotal of cash used in financing activities2,130,696.57754,516.80
Net cash generated from/used in financing activities-2,130,696.5722,245,483.20
4. Effect of foreign exchange rates changes on cash and cash equivalents58,297.68-113,540.16
5. Net increase in cash and cash equivalents-92,381,986.70-24,361,815.21
Add: Cash and cash equivalents, beginning of the period859,146,413.35190,365,069.48
6. Cash and cash equivalents, end of the period766,764,426.65166,003,254.27

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

□ 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.

27 April 2024


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