ShenZhen Properties & Resources Development (Group) Ltd. Third Quarterly Report 2021
1
Stock Code: 000011, 200011 Stock Name: PRD, PRD-B Announcement No. 2021-41
SHENZHEN PROPERTIES & RESOURCES DEVELOPMENT (GROUP)
LTD.
THIRD QUARTERLY REPORT 2021
ShenZhen Properties & Resources Development (Group) Ltd. (hereinafter referred to as
the “Company”) and all the members of the Company’s Board of Directors hereby
guarantee that the contents of this Report are true, accurate and complete 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 the Company
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, head of financial affairs, and head of the 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 Indicators
Indicate whether there is any retrospectively restated datum in the table below.
□ Yes √ No
Q3 2021 YoY change (%) Q1-Q3 2021 YoY change (%)
Operating revenue (RMB) 640,625,548.94 92.60% 3,181,490,688.19 81.42%
Net profit attributable to the
listed company’s shareholders
(RMB)
98,290,796.67 602.63% 774,666,320.42 302.61%
Net profit attributable to the
listed company’s shareholders
before exceptional gains and
losses (RMB)
97,412,536.02 596.54% 767,271,027.23 303.42%
Net cash generated from/used in
operating activities (RMB)
—— —— -543,010,578.00 -19.93%
Basic earnings per share
(RMB/share)
0.1649 602.74% 1.2998 302.54%
Diluted earnings per share
(RMB/share)
0.1649 602.74% 1.2998 302.54%
Weighted average return on
equity (%)
2.34% 2.96% 19.47% 13.75%
30 September 2021 31 December 2020 Change (%)
Total assets (RMB) 13,943,431,527.25 12,207,356,912.54 14.22%
Equity attributable to the listed
company’s shareholders (RMB)
4,257,833,837.26 3,727,917,440.03 14.21%
ShenZhen Properties & Resources Development (Group) Ltd. Third Quarterly Report 2021
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(II) Exceptional Gains and Losses
√ Applicable □ Not applicable
Unit: RMB
Item Q3 2021 Q1-Q3 2021 Note
Gain or loss on disposal of non-current assets
(inclusive of impairment allowance write-offs)
-10,950.00 -25,398.90
Scrapping disposal of
miscellaneous assets
Government grants through profit or loss
(exclusive of government grants continuously
given in the Company’s ordinary course of
business at fixed quotas or amounts as per the
government’s policies and standards)
124,374.48 350,456.49
Subsidy of substituting
vocational training with
working and subsidy for
stabilizing posts
received from
government
Gain/Loss incurred from contingency unrelated to
the Company’s normal operating businesses.
0.00 -114,571.79
Payment of
lawsuit-related
compensation
Non-operating income and expense other than the
above
974,984.02 9,036,208.35
Demolition
compensation received
Less: Income tax effects 209,961.85 2,046,501.38
Non-controlling interests effects (net of tax) 186.00 -195,100.42
Total 878,260.65 7,395,293.19 --
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 of why
√ Applicable □ Not applicable
1. Accounts receivable stood at RMB280,305,194.87 as at 30 September 2021, up 49.34% compared to 31 December 2020, primarily
driven by an increase in property management revenue.
2. Prepayments stood at RMB81,332,572.95 as at 30 September 2021, up 60.92% compared to 31 December 2020, primarily driven
by an increase in prepayments for engineering services.
3. Inventories stood at RMB7,491,518,350.13 as at 30 September 2021, up 41.02% compared to 31 December 2020, primarily driven
by an increase in land bank.
4. Long-term prepaid expense stood at RMB18,613,574.71 as at 30 September 2021, up 56.91% compared to 31 December 2020,
primarily driven by an increase in decoration expenditures.
5. Deferred income tax assets stood at RMB1,313,347,404.44 as at 30 September 2021, up 38.15% compared to 31 December 2020,
primarily driven by an increase in provision for land value-added tax.
6. Other non-current assets stood at RMB3,090,363.35 as at 30 September 2021, up 97.58% compared to 31 December 2020,
primarily driven by an increase in expenditures on the construction and acquisition of long-lived assets.
7. Advances from customers stood at RMB1,060,418 as at 30 September 2021, up 124.06% compared to 31 December 2020,
primarily driven by an increase in rents received.
8. Contract liabilities stood at RMB1,369,958,701.35 as at 30 September 2021, up 105.42% compared to 31 December 2020,
primarily driven by an increase in advances received in the pre-sale of residential units.
9. Current portion of non-current liabilities stood at RMB67,002,418.06 as at 30 September 2021, up 82.45% compared to 31
December 2020, primarily driven by an increase in bank loans due within one year.
ShenZhen Properties & Resources Development (Group) Ltd. Third Quarterly Report 2021
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10. Other current liabilities stood at RMB77,860,950.08 as at 30 September 2021, up 79.59% compared to 31 December 2020,
primarily driven by an increase in differences between prices and taxable amounts with respect to contract liabilities.
11. Provisions stood at RMB1,413,049.50 as at 30 September 2021, down 41.05% compared to 31 December 2020, primarily driven
by payment according to court judgment.
12. Operating revenue stood at RMB3,181,490,688.19 during Q1~Q3 2021, up 81.42% compared to Q1~Q3 2020, primarily driven
by an increase in carryforwards of revenue from real estate projects.
13. Taxes and levies stood at RMB935,246,313.19 during Q1~Q3 2021, up 126.55% compared to Q1~Q3 2020, primarily driven by
an increase in provision for land value-added tax.
14. Selling expense stood at RMB38,619,575.61 during Q1~Q3 2021, up 68.33% compared to Q1~Q3 2020, primarily driven by an
increase in sales promotion and agent expense.
15. Interest expense stood at RMB54,703,527.86 during Q1~Q3 2021, down 59.26% compared to Q1~Q3 2020, primarily driven by
an increase in capitalized interest.
16. Asset impairment losses stood at RMB14,735.82 during Q1~Q3 2021, up 703.96% compared to Q1~Q3 2020, primarily driven
by a decrease in inventory valuation allowances.
17. Credit impairment losses stood at RMB-6,885,600.31 during Q1~Q3 2021, down 691.91% compared to Q1~Q3 2020, primarily
driven by a decrease in allowances for doubtful accounts.
18. Return on investment stood at RMB4,070,956.16 during Q1~Q3 2021, up 2008.54% compared to Q1~Q3 2020, primarily driven
by an increase in net profits of joint ventures.
19. Non-operating income stood at RMB11,820,776.71 during Q1~Q3 2021, up 141.02% compared to Q1~Q3 2020, primarily
driven by an increase in property demolition compensation income.
20. Income tax expense stood at RMB216,928,658.27 during Q1~Q3 2021, up 133.91% compared to Q1~Q3 2020, primarily driven
by an increase in gross profit.
21. Gain on fair value changes of investments in other equity instruments stood at RMB155,048.91 during Q1~Q3 2021, up 127.25%
compared to Q1~Q3 2020, primarily driven by fair value changes.
22. Net cash generated from/used in operating activities stood at RMB-543,010,578 during Q1~Q3 2021, representing a decrease of
RMB90,243,620.82 compared to RMB-452,766,957.18 during Q1~Q3 2020, primarily driven by the payment for land and an
increase in property sales payments collected.
23. Net cash generated from/used in investing activities stood at RMB-16,727,397.68 during Q1~Q3 2021, representing an increase
of RMB477,472,399.59 compared to RMB-494,199,797.27 during Q1~Q3 2020, primarily driven by the payment for the acquisition
of interest in other company in the same period of last year.
24. Net cash generated from/used in financing activities stood at RMB-386,860,067.44 during Q1~Q3 2021, representing a decrease
of RMB2,204,396,442.64 compared to RMB1,817,536,375.20 during Q1~Q3 2020, primarily driven by additional bank loan in the
same period of last year.
II Shareholder Information
(I) Numbers of Ordinary Shareholders and Preference Shareholders with Resumed Voting Rights as well
as Holdings of Top 10 Shareholders
Unit: share
Number of ordinary shareholders at the
period-end
46,351
Number of preferred
shareholders with
resumed voting rights at
the period-end (if any)
0
Top 10 shareholders
Name of shareholder
Nature of
shareholder
Shareholdin
g
Total shares
held
Restricted
shares held
Shares in pledge, marked
or frozen
ShenZhen Properties & Resources Development (Group) Ltd. Third Quarterly Report 2021
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percentage Status Shares
Shenzhen Investment
Holdings Corporation
State-owned
corporation
50.57% 301,414,637 3,326
Shenzhen State-Owned
Equity Operation and
Management Co., Ltd.
Domestic
non-state-owned
legal person
6.38% 38,037,890 0
China Orient Asset
Management Co., Ltd.
State-owned
legal person
3.90% 23,236,400 0
Hong Kong Securities
Clearing Company Ltd.
Foreign legal
person
0.99% 5,906,124 0
Duan Shaoteng
Domestic natural
person
0.29% 1,755,565 0
Shenzhen Duty-Free
Commodity Enterprises
Co., Ltd.
Domestic
non-state-owned
legal person
0.29% 1,730,300 1,730,300
Yang Yaochu
Domestic natural
person
0.25% 1,500,384 0
Mai Furong
Domestic natural
person
0.19% 1,103,096 0
Su Weipeng
Domestic natural
person
0.17% 1,020,300 0
He Simo
Domestic natural
person
0.17% 1,011,750 0
Top 10 unrestricted shareholders
Name of shareholder Unrestricted shares held
Shares by class
Class Shares
Shenzhen Investment Holdings Corporation 301,411,311
RMB-denominated
ordinary stock
301,411,311
Shenzhen State-Owned Equity Operation and
Management Co., Ltd.
38,037,890
RMB-denominated
ordinary stock
38,037,890
China Orient Asset Management Co., Ltd. 23,236,400
RMB-denominated
ordinary stock
23,236,400
Hong Kong Securities Clearing Company Ltd. 5,906,124
RMB-denominated
ordinary stock
5,906,124
Duan Shaoteng 1,755,565
RMB-denominated
ordinary stock
1,755,565
Yang Yaochu 1,500,384
Domestically listed
foreign stock
1,500,384
Mai Furong 1,103,096
Domestically listed
foreign stock
1,103,096
Su Weipeng 1,020,300
RMB-denominated
ordinary stock
1,020,300
He Simo 1,011,750
Domestically listed
foreign stock
1,011,750
Chen Yutang 800,000
RMB-denominated
ordinary stock
800,000
Related or acting-in-concert parties among the
shareholders above
The 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)
N/A
ShenZhen Properties & Resources Development (Group) Ltd. Third Quarterly Report 2021
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(II) Number of Preference Shareholders and Shareholdings of Top 10 of Them
□ Applicable √ Not applicable
III Other Significant Events
√ Applicable □ Not applicable
1. During the Reporting Period, Shenzhen SZPRD Urban Renewal Co., Ltd., the Company’s wholly-owned subsidiary, won the bid
for the use right of the No. 2021WR023 land for construction in Humen Town of Dongguan City with RMB2,070,606,666 in the
online listing and transfer of the use right of the state-owned land for construction held by Dongguan City Public Resources Trading
on 28 August 2021. For more details, see the Announcement on Wholly-Owned Subsidiary Becoming Selected Winner of Bid for
Land Use Right (Announcement No. 2021-26) disclosed by the Company on 27 August 2021 and the Announcement on
Wholly-Owned Subsidiary Becoming Winner of Bid for Land Use Right (Announcement No. 2021-27) disclosed by the Company on
3 September 2021.
2. During the Reporting Period, the Company received the Letter on Changing Commitment on Avoiding Horizontal Competition
from the controlling shareholder Shenzhen Investment Holdings Co., Ltd. which had been approved on the 25th Meeting of the 9th
Board of Directors and the 26th Meeting of the 9th Supervisory Committee held on 10 September 2021, as well as the 1st
Extraordinary General Meeting of 2021 by voting. For more details, see the Announcement on Application of Controlling
Shareholder for Changing Commitment on Avoiding Horizontal Competition (Announcement No. 2021-32) and the Announcement
No. 2021-34 on Resolutions of the1st Extraordinary General Meeting of 2021 disclosed by the Company on 11 September 2021 and
28 September 2021, respectively.
IV Quarterly Financial Statements
(I) Financial Statements
1. Consolidated Balance Sheet
Prepared by ShenZhen Properties & Resources Development (Group) Ltd.
30 September 2021
Unit: RMB
Item 30 September 2021 31 December 2020
Current assets:
Monetary assets 3,237,455,455.40 4,206,266,629.32
Settlement reserve
Loans to other banks and financial
institutions
Held-for-trading financial assets
Derivative financial assets
Notes receivable
Accounts receivable 280,305,194.87 187,697,631.47
Receivables financing
Prepayments 81,332,572.95 50,543,422.85
Premiums receivable
Reinsurance receivables
Receivable reinsurance contract
reserve
Other receivables 826,262,329.99 789,050,350.51
Including: Interest receivable
Dividends receivable
Financial assets purchased under
resale agreements
Inventories 7,491,518,350.13 5,312,489,258.20
Contract assets
ShenZhen Properties & Resources Development (Group) Ltd. Third Quarterly Report 2021
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Assets held for sale
Current portion of non-current
assets
Other current assets 55,122,942.93 48,991,965.92
Total current assets 11,971,996,846.27 10,595,039,258.27
Non-current assets:
Loans and advances to customers
Debt investments
Other debt investments
Long-term receivables
Long-term equity investments 49,781,176.95 45,710,220.79
Investments in other equity
instruments
1,194,011.36 1,044,905.12
Other non-current financial assets
Investment property 458,208,170.14 484,738,506.83
Fixed assets 107,168,499.23 116,233,936.04
Construction in progress
Productive living assets
Oil and gas assets
Right-of-use assets 11,640,096.44
Intangible assets 435,544.07 482,049.51
Development costs
Goodwill 7,955,840.29
Long-term prepaid expense 18,613,574.71 11,862,716.14
Deferred income tax assets 1,313,347,404.44 950,681,245.50
Other non-current assets 3,090,363.35 1,564,074.34
Total non-current assets 1,971,434,680.98 1,612,317,654.27
Total assets 13,943,431,527.25 12,207,356,912.54
Current liabilities:
Short-term borrowings
Borrowings from the central bank
Loans from other banks and
financial institutions
Held-for-trading financial
liabilities
Derivative financial liabilities
Notes payable
Accounts payable 363,097,115.88 468,269,685.65
Advances from customers 1,060,418.00 473,274.48
Contract liabilities 1,369,958,701.35 666,893,629.72
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 payable 148,442,697.63 177,190,197.36
Taxes and levies payable 2,993,796,653.66 2,487,212,979.37
ShenZhen Properties & Resources Development (Group) Ltd. Third Quarterly Report 2021
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Other payables 931,830,115.73 847,142,613.09
Including: Interest payable
Dividends payable 12,202,676.04 12,202,676.04
Fees and commissions payable
Reinsurance payables
Liabilities directly associated with
assets held for sale
Current portion of non-current
liabilities
67,002,418.06 36,722,824.88
Other current liabilities 77,860,950.08 43,354,691.51
Total current liabilities 5,953,049,070.39 4,727,259,896.06
Non-current liabilities:
Insurance contract reserve
Long-term borrowings 3,556,900,000.00 3,587,800,000.00
Bonds payable
Including: Preference shares
Perpetual bonds
Lease liabilities 12,010,238.46
Long-term payables
Long-term employee benefits
payable
Provisions 1,413,049.50 2,396,947.00
Deferred income
Deferred income tax liabilities 262.20 262.20
Other non-current liabilities 109,103,765.34 108,778,327.45
Total non-current liabilities 3,679,427,315.50 3,698,975,536.65
Total liabilities 9,632,476,385.89 8,426,235,432.71
Owners’ equity:
Share capital 595,979,092.00 595,979,092.00
Other equity instruments
Including: Preference shares
Perpetual bonds
Capital reserves 80,488,045.38 80,488,045.38
Less: Treasury stock
Other comprehensive income -7,148,084.88 -6,749,589.41
Specific reserve
Surplus reserves 19,205,979.63 19,205,979.63
General reserve
Retained earnings 3,569,308,805.13 3,038,993,912.43
Total equity attributable to owners of
the Company as the parent
4,257,833,837.26 3,727,917,440.03
Non-controlling interests 53,121,304.10 53,204,039.80
Total owners’ equity 4,310,955,141.36 3,781,121,479.83
Total liabilities and owners’ equity 13,943,431,527.25 12,207,356,912.54
Legal representative: Liu Shengxiang Head of financial affairs: Cai Lili
Head of the financial department: Liu Qiang
ShenZhen Properties & Resources Development (Group) Ltd. Third Quarterly Report 2021
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2. Consolidated Income Statement for Q1~Q3
Unit: RMB
Item Q1~Q3 2021 Q1~Q3 2020
1. Revenues 3,181,490,688.19 1,753,697,717.30
Including: Operating revenue 3,181,490,688.19 1,753,697,717.30
Interest income
Insurance premium
income
Fee and commission
income
2. Costs and expenses 2,211,935,483.11 1,527,399,689.48
Including: Cost of sales 1,084,925,841.75 873,302,042.71
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 levies 935,246,313.19 412,829,423.52
Selling expense 38,619,575.61 22,942,832.34
Administrative expense 157,577,080.86 132,861,676.49
Development costs
Finance costs -4,433,328.30 85,463,714.42
Including: Interest
expense
54,703,527.86 134,280,009.60
Interest
income
60,783,256.33 48,882,862.25
Add: Other income 4,384,524.06 4,850,559.92
Return on investment (“-” for
loss)
4,070,956.16 193,069.98
Including: Share of profit or
loss of joint ventures and associates
4,070,956.16 193,069.98
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)
-6,885,600.31 1,163,290.17
Asset impairment loss (“-” for
loss)
14,735.82 1,832.91
Asset disposal income (“-” for
loss)
3. Operating profit (“-” for loss) 971,139,820.81 232,506,780.80
Add: Non-operating income 11,820,776.71 4,904,450.96
Less: Non-operating expense 2,813,222.58 3,180,142.69
ShenZhen Properties & Resources Development (Group) Ltd. Third Quarterly Report 2021
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4. Gross profit (“-” for loss) 980,147,374.94 234,231,089.07
Less: Income tax expense 216,928,658.27 92,741,690.38
5. Net profit (“-” for net loss) 763,218,716.67 141,489,398.69
5.1 By operating continuity
5.1.1 Net profit from continuing
operations (“-” for net loss)
763,218,716.67 141,489,398.69
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 parent
774,666,320.42 192,412,552.18
5.2.2 Net profit attributable to
non-controlling interests
-11,447,603.75 -50,923,153.49
6. Other comprehensive income, net of
tax
-398,495.47 2,562,432.70
Attributable to owners of the
Company as the parent
-398,495.47 2,562,432.70
6.1 Items that will not be
reclassified to profit or loss
155,048.91 -569,080.59
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
instruments
155,048.91 -569,080.59
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
-553,544.38 3,131,513.29
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
-553,544.38 3,131,513.29
6.2.7 Other
Attributable to non-controlling
interests
7. Total comprehensive income 762,820,221.20 144,051,831.39
Attributable to owners of the
Company as the parent
774,267,824.95 194,974,984.88
Attributable to non-controlling
interests
-11,447,603.75 -50,923,153.49
8. Earnings per share
8.1 Basic earnings per share 1.2998 0.3229
8.2 Diluted earnings per share 1.2998 0.3229
ShenZhen Properties & Resources Development (Group) Ltd. Third Quarterly Report 2021
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Where business combinations under common control occurred in the current period, the net profit achieved by the acquirees before
the combinations was RMB0, with the amount for the same period of last year being RMB0.
Legal representative: Liu Shengxiang Head of financial affairs: Cai Lili
Head of the financial department: Liu Qiang
3. Consolidated Cash Flow Statement for Q1~Q3
Unit: RMB
Item Q1~Q3 2021 Q1~Q3 2020
1. Cash flows from operating
activities:
Proceeds from sale of commodities
and rendering of services
4,042,420,125.09 2,899,288,769.77
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 rebates 27,939,475.62 12,858,739.05
Cash generated from other
operating activities
203,438,724.30 418,683,926.79
Subtotal of cash generated from
operating activities
4,273,798,325.01 3,330,831,435.61
Payments for commodities and
services
2,887,214,350.83 1,128,024,166.75
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 employees 531,706,928.53 472,672,344.40
Taxes and levies paid 1,263,721,854.47 2,012,684,115.79
Cash used in other operating
activities
134,165,769.18 170,217,765.85
Subtotal of cash used in operating
activities
4,816,808,903.01 3,783,598,392.79
Net cash generated from/used in -543,010,578.00 -452,766,957.18
ShenZhen Properties & Resources Development (Group) Ltd. Third Quarterly Report 2021
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operating activities
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 assets
26,112.57 4,608.08
Net proceeds from the disposal of
subsidiaries and other business units
Cash generated from other
investing activities
Subtotal of cash generated from
investing activities
26,112.57 4,608.08
Payments for the acquisition of
fixed assets, intangible assets and
other long-lived assets
14,930,846.83 28,396,835.53
Payments for investments
Net increase in pledged loans
granted
Net payments for the acquisition of
subsidiaries and other business units
1,822,663.42 465,807,569.82
Cash used in other investing
activities
Subtotal of cash used in investing
activities
16,753,510.25 494,204,405.35
Net cash generated from/used in
investing activities
-16,727,397.68 -494,199,797.27
3. Cash flows from financing
activities:
Capital contributions received 140,000.00 840,000.00
Including: Capital contributions
by non-controlling interests to
subsidiaries
140,000.00 840,000.00
Borrowings received 2,172,000,000.00
Cash generated from other
financing activities
Subtotal of cash generated from
financing activities
140,000.00 2,172,840,000.00
Repayment of borrowings 100,000.00 1,033,000.00
Interest and dividends paid 386,900,067.44 354,270,624.80
Including: Dividends paid by
subsidiaries to non-controlling
interests
Cash used in other financing
activities
Subtotal of cash used in financing
activities
387,000,067.44 355,303,624.80
Net cash generated from/used in
financing activities
-386,860,067.44 1,817,536,375.20
4. Effect of foreign exchange rates
changes on cash and cash equivalents
-526,623.85 -1,054,883.75
5. Net increase in cash and cash
equivalents
-947,124,666.97 869,514,737.00
Add: Cash and cash equivalents,
beginning of the period
4,168,154,911.83 3,285,345,233.47
6. Cash and cash equivalents, end of
the period
3,221,030,244.86 4,154,859,970.47
ShenZhen Properties & Resources Development (Group) Ltd. Third Quarterly Report 2021
12
(II) Adjustments to the Financial Statements
1. Adjustments to the Financial Statements at the Beginning of the First Execution Year of the New
Standards 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
Consolidated Balance Sheet
Unit: RMB
Item 31 December 2020 1 January 2021 Adjusted
Current assets:
Monetary assets 4,206,266,629.32 4,206,266,629.32
Settlement reserve
Loans to other banks and
financial institutions
Held-for-trading
financial assets
Derivative financial
assets
Notes receivable
Accounts receivable 187,697,631.47 187,697,631.47
Receivables financing
Prepayments 50,543,422.85 50,543,422.85
Premiums receivable
Reinsurance receivables
Receivable reinsurance
contract reserve
Other receivables 789,050,350.51 789,050,350.51
Including: Interest
receivable
Dividends
receivable
Financial assets
purchased under resale
agreements
Inventories 5,312,489,258.20 5,312,489,258.20
Contract assets
Assets held for sale
Current portion of
non-current assets
Other current assets 48,991,965.92 48,991,965.92
Total current assets 10,595,039,258.27 10,595,039,258.27
Non-current assets:
Loans and advances to
customers
Debt investments
Other debt investments
Long-term receivables
Long-term equity
investments
45,710,220.79 45,710,220.79
Investments in other
equity instruments
1,044,905.12 1,044,905.12
Other non-current
ShenZhen Properties & Resources Development (Group) Ltd. Third Quarterly Report 2021
13
financial assets
Investment property 484,738,506.83 484,738,506.83
Fixed assets 116,233,936.04 116,233,936.04
Construction in progress
Productive living assets
Oil and gas assets
Right-of-use assets 14,992,421.49 14,992,421.49
Intangible assets 482,049.51 482,049.51
Development costs
Goodwill
Long-term prepaid
expense
11,862,716.14 11,862,716.14
Deferred income tax
assets
950,681,245.50 950,681,245.50
Other non-current assets 1,564,074.34 1,564,074.34
Total non-current assets 1,612,317,654.27 1,627,310,075.76 14,992,421.49
Total assets 12,207,356,912.54 12,222,349,334.03 14,992,421.49
Current liabilities:
Short-term borrowings
Borrowings from the
central bank
Loans from other banks
and financial institutions
Held-for-trading
financial liabilities
Derivative financial
liabilities
Notes payable
Accounts payable 468,269,685.65 468,269,685.65
Advances from
customers
473,274.48 473,274.48
Contract liabilities 666,893,629.72 666,893,629.72
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
payable
177,190,197.36 177,190,197.36
Taxes and levies payable 2,487,212,979.37 2,487,212,979.37
Other payables 847,142,613.09 847,142,613.09
Including: Interest
payable
Dividends
payable
12,202,676.04 12,202,676.04
Fees and commissions
payable
Reinsurance payables
Liabilities directly
associated with assets held
for sale
ShenZhen Properties & Resources Development (Group) Ltd. Third Quarterly Report 2021
14
Current portion of
non-current liabilities
36,722,824.88 36,722,824.88
Other current liabilities 43,354,691.51 43,354,691.51
Total current liabilities 4,727,259,896.06 4,727,259,896.06
Non-current liabilities:
Insurance contract
reserve
Long-term borrowings 3,587,800,000.00 3,587,800,000.00
Bonds payable
Including: Preference
shares
Perpetual
bonds
Lease liabilities 14,992,421.49 14,992,421.49
Long-term payables
Long-term employee
benefits payable
Provisions 2,396,947.00 2,396,947.00
Deferred income
Deferred income tax
liabilities
262.20 262.20
Other non-current
liabilities
108,778,327.45 108,778,327.45
Total non-current liabilities 3,698,975,536.65 3,713,967,958.14 14,992,421.49
Total liabilities 8,426,235,432.71 8,441,227,854.20 14,992,421.49
Owners’ equity:
Share capital 595,979,092.00 595,979,092.00
Other equity instruments
Including: Preference
shares
Perpetual
bonds
Capital reserves 80,488,045.38 80,488,045.38
Less: Treasury stock
Other comprehensive
income
-6,749,589.41 -6,749,589.41
Specific reserve
Surplus reserves 19,205,979.63 19,205,979.63
General reserve
Retained earnings 3,038,993,912.43 3,038,993,912.43
Total equity attributable to
owners of the Company as
the parent
3,727,917,440.03 3,727,917,440.03
Non-controlling interests 53,204,039.80 53,204,039.80
Total owners’ equity 3,781,121,479.83 3,781,121,479.83
Total liabilities and
owners’ equity
12,207,356,912.54 12,222,349,334.03 14,992,421.49
Notes to the adjustments
The Company has implemented the new IFRS 16 Leases since 1 January 2021, and according to the accumulated number of impacts
based on the execution of the new lease standard, the Company will adjust the amount of relevant items in the financial statements at
the beginning of the first year of execution, and will not adjust information for comparable periods. For operational leasing prior to
the date of initial adoption, the Company will measure the lease liabilities according to the present value discounted at the
incremental borrowing rate on the date of initial adoption based on the remaining lease payments, and make necessary adjustments to
the right-of-use assets at an amount equal to the lease liabilities.
ShenZhen Properties & Resources Development (Group) Ltd. Third Quarterly Report 2021
15
2. Retrospective Restatement of Previous Comparative Data due to the First Execution of the New
Standards Governing Leases from 2021
□ 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 Directors
Shenzhen Properties & Resources Development (Group) Ltd.
30 October 2021
