Report for the Third Quarter of 2015 of Shenzhen Properties& Resources Development (Group) Ltd. SHENZHEN PROPERTIES& RESOURCES
DEVELOPMENT (GROUP) LTD.
Report for the Third Quarter of 2015
26
October 2015
Report for the Third Quarter of 2015 of Shenzhen Properties& Resources Development (Group) Ltd. Section I. Important Reminders
The Board of Directors, the Supervisory Committee as well as all directors, supervisors and senior management staff of Shenzhen Properties& Resources Development (Group) Ltd. (hereinafter referred to as “the Company”) warrant that this report is factual, accurate and complete without any false record, misleading statement or material omission. And they shall be jointly and severally liable for that.
All directors attended the board session for reviewing this report.
Mr. Chen Yugang, company principal, Mr. Wang Hangjun, chief of the accounting work, and Ms. Shen Xueying, chief of the accounting organ (chief of accounting), hereby confirm that the Financial Report enclosed in this report is factual, accurate and complete.
This report is prepared in both Chinese and English. Should there be any discrepancy between the two versions, the Chinese version shall prevail.
Report for the Third Quarter of 2015 of Shenzhen Properties& Resources Development (Group) Ltd. Section II. Financial Highlights& Change of Shareholders
I. Major accounting data and financial indexes
Does the Company adjust retrospectively or restate accounting data of previous years due to change of the accounting policy or correction of any accounting error?
□ Yes√ No
||||||||
|-|-|-|-|-|-|-|
||30 Sept. 2015||31 Dec. 2014||Increase/decrease (%)||
|Total assets (RMB Yuan)|4,008,625,005.4||7 3,883,288,145.46||3.23%||
|Net assets attributable to|1,984,699,191.5||0 2,074,242,662.07||||
|shareholders of the Company|||||-4.32%||
|(RMB Yuan)|||||||
|||YoY increase/decrease||||YoY increase/decrease|
||Jul.-Sept. 2015|||Jan.-Sept. 2015|||
|||(%)||||(%)|
|Operating revenues (RMB Yuan)|297,288,997.73|-4.47%||636,050,308.12||-21.72%|
|Net profit attributable to|15,292,968.63|||46,455,800.37|||
|shareholders of the Company||-92.75%||||-85.62%|
|(RMB Yuan)|||||||
|Net profit attributable to|||||||
|shareholders of the Company after|15,154,797.52|-62.00%||42,101,673.71||-70.62%|
|extraordinary gains and losses|||||||
|(RMB Yuan)|||||||
|Net cash flows from operating||||-39,562,655.50|||
||--|--||||-58.56%|
|activities (RMB Yuan)|||||||
|Basic EPS (RMB Yuan/share)|0.0256|-92.77%||0.0779||-85.63%|
|Diluted EPS (RMB Yuan/share)|0.0256|-92.77%||0.0779||-85.63%|
|Weighted average ROE (%)|0.76%|-10.46%||2.30%||-14.87%|

 Items and amounts of extraordinary gains and losses
√Applicable□Inapplicable
Unit: RMB Yuan
||||
|-|-|-|
|Item|Amount as of Jan.-Sept. 2015|Note|
|Gains/losses on the disposal of non-current assets (including the|||
||-428,479.60||
|offset part of asset impairment provisions)|||
|Gains and losses on change in fair value from tradable financial|||
|assets and tradable financial liabilities, as well as investment|||
|||Was the revenue from selling the|
||6,101,133.09||
|income from disposal of tradable financial assets and tradable|||
|||stocks of China Plastic Holding|
|financial liabilities and financial assets available for sales, except|||
|for effective hedging related with normal businesses of the|||

Report for the Third Quarter of 2015 of Shenzhen Properties& Resources Development (Group) Ltd.
||||
|-|-|-|
|Company|||
|Non-operating incomes and expenses other than the above|95,210.82||
|Less: Income tax effects|1,413,737.65||
|Total|4,354,126.66|--|

Explain the reasons if the Company classifies an item as an extraordinary gain/loss according to the definition in the Explanatory Announcement No. 1 on Information Disclosure for Companies Offering Their Securities to thePublic—Extraordinary Gains and Losses, or classifies any extraordinary gain/loss item mentioned in the said explanatory announcement as a recurrent gain/loss item□ Applicable√ Inapplicable
There was no such situation of the Company during the reporting period.
II. Total number of shareholders and shareholdings of the top ten shareholders at the period-end
1. Total number of common shareholders and shareholdings of the top ten common shareholders at the period-end
Unit: share
||||||||
|-|-|-|-|-|-|-|
|Total number of common|||||||
|||42,162|||||
|shareholders at the period-end|||||||
|Shareholdings of the top ten common shareholders|||||||
|||||Number of|Pledged or frozen shares||
|Name of|Nature of|Shareholding|Number of the||||
|||||restricted shares|||
|shareholder|shareholder|percentage (%)|shares held||Status of shares|Number of shares|
|||||held|||
|SHENZHENCONSTRUCTIONINVESTMENTHOLDINGSCORPORATION|State-ownedcorporation|54.33%|323,796,324|293,997,370|||
|SHENZHENINVESTMENTMANAGEMENTCORPORATION|State-ownedcorporation|9.49%|56,582,573|56,582,573|||
|SHENZHENDUTY-FREECOMMODITYENTERPRISESCO., LTD.|Domesticnon-state-ownedcorporation|0.29%|1,730,300|1,730,300|||
|Huang Qianwen|Domesticindividual|0.23%|1,485,300||||

Report for the Third Quarter of 2015 of Shenzhen Properties& Resources Development (Group) Ltd.
|||||||
|-|-|-|-|-|-|
|Yang Yaochu|Foreignindividual|0.18%|1,076,960|||
|Chen Liying|Domesticindividual|0.18%|1,076,051|||
|ZhonglianIndustry|Domesticnon-state-ownedcorporation|0.16%|900,000|||
|Mai Furong|Domesticindividual|0.15%|821,917|||
|Cao Yifan|Domesticindividual|0.15%|821,811|||
|Beijing FengdanInvestment &Management Co.,Ltd.|Domesticnon-state-ownedcorporation|0.14%|720,000|||
|Shareholdings of the top ten non-restricted common shareholders||||||
|||Number of non-restricted common shares held at the||Type of shares||
|Name of shareholder||||||
|||period-end||Type|Number|
|SHENZHEN CONSTRUCTIONINVESTMENT HOLDINGSCORPORATION||29,798,954||||
|||||RMB ordinary||
||||||29,798,954|
|||||share||
|Huang Qianwen||1,485,300||RMB ordinary||
||||||1,485,300|
|||||share||
|Yang Yaochu||1,076,960||Domestically||
|||||listed foreign|1,076,960|
|||||share||
|Chen Liying||1,076,051||Domestically||
|||||listed foreign|1,076,051|
|||||share||
|Zhonglian Industry||900,000||RMB ordinary||
||||||900,000|
|||||share||
|Mai Furong||821,917||Domestically||
|||||listed foreign|821,917|
|||||share||
|Cao Yifan||821,811||Domestically||
|||||listed foreign|821,811|
|||||share||
|Beijing Fengdan Investment &Management Co., Ltd.||720,000||RMB ordinary||
||||||720,000|
|||||share||

Report for the Third Quarter of 2015 of Shenzhen Properties& Resources Development (Group) Ltd.
|||||
|-|-|-|-|
|He Zhili|691,200|RMB ordinary||
||||691,200|
|||share||
|Huang Zhihui|596,700|RMB ordinary||
||||596,700|
|||share||
||The shareholder SHENZHEN CONSTRUCTION INVESTMENT HOLDINGS|||
|Explanation on associated||||
||CORPORATIONand Shenzhen Investment & Management Co., Ltd. were both belong to the|||
|relationship or/and persons acting in||||
||actual controlling shareholder of the Company – Shenzhen Investment Shareholding Co.,|||
|concert among the above-mentioned||||
||Ltd., and it is unknown whether the remaining 8 shareholders are related parties or|||
|shareholders:||||
||acting-in-concert parties.|||

Did any of the top 10 common shareholders or the top 10 non-restricted common shareholders of the Company carry out any agreed buy-back in the reporting period?
□ Yes√ No
No any top 10 common shareholders or the top 10 non-restricted common shareholders of the Company carried out any agreed buy-back in the reporting period.
2. Total number of preferred share holders and shareholdings of the top ten preferred share holders at the period-end
□ Applicable√ Inapplicable
Section III. Significant Events
I. Major changes in main accounting statement items and financial indicators in the reporting period, as well as reasons for the changes
√ Applicable□ Inapplicable
1. Accounts receivable at the period-end stood at RMB 43,029,628.94, up61.86% from the year-beginning, mainly because property management fees receivable of subsidiaries increased.
2. Prepayments at the period-end stood at RMB 34,207,546.97, up31.62% from the year-beginning, mainly because the prepaid taxes and fares increased.
3. Other receivables at the period-end stood at RMB 11,337,830.42, up70.79% from the year-beginning, mainly because the utilities that the relevant subsidiary had paid on behalf of but not yet settled with its clients and so on increased.
4. Accounts received in advance at the period-end stood at RMB 262,106,765.42, up811.47% from the year-beginning, mainly because the advances from house buyers increased.
5. Non-current liabilities due within 1 year at the period-end stood at RMB 161,243,352.00, up3124.87% from the year-beginning, mainly because some long-term borrowings were transferred into this item according to regulations.
6. Long-term borrowings at the period-end stood at RMB 91,723,000.00, down48.36% from the year-beginning,
mainly because the borrowings due within 1 year were reclassified as non-current liabilities due within 1 year
Report for the Third Quarter of 2015 of Shenzhen Properties& Resources Development (Group) Ltd. according to relevant regulations.
7. Deferred income tax liabilities at the period-end stood at RMB 26,519.13, down89.71% from the year-beginning, mainly because financial assets available for sale were sold.
8. Other comprehensive incomes at the period-end stood at RMB -8,890,012.23, down121.91% from the year-beginning, mainly because financial assets available for sale were sold and the difference of foreign-currency statement translation decreased.
9. Operating costs for Jul.-Sept. 2015 stood at RMB 208,025,684.89, up37.75% year on year, mainly because the settled project area for Jul.-Sept. 2015 increased from the same period of last year.
10. The business tax and surtaxes for Jan.-Sept. 2015 stood at RMB 84,688,366.10, down44.44% from the same period of last year, mainly because: the settled project incomes during Jan.-Sept. 2015 decreased and the taxes and fares such as the business tax and the land VAT decreased accordingly; the business tax and surtaxes for Jul.-Sept. 2015 stood at RMB 37,907,220.01, down45.95% year on year, mainly because the settled project incomes for Jul.-Sept. 2015 decreased and the taxes and fares such as the business tax and the land VAT decreased accordingly.
11. The selling expenses for Jan.-Sept. 2015 and Jul.-Sept. 2015 stood at RMB 20,236,447.48 and RMB 7,578,180.79, up85.62% and32.14% respectively from the same period of last year, mainly because the advertising, sales service and agency fees increased to enhance marketing.
12. The financial expenses for Jul.-Sept. 2015 stood at RMB -1,190,173.21, with the relevant gain (negative) decreasing34.72% from the same period of last year, mainly because the interest income decreased.
13. The asset impairment losses for Jan.-Sept. 2015 stood at RMB 350,497.07, down75.85% year on year, mainly because the bad-debt provisions made according to aging decreased.
14. The investment gains for Jan.-Sept. 2015 and Jul.-Sept. 2015 stood at RMB 7,354,998.23 and RMB 587,455.97, down96.57% and99.72% respectively from the same period of last year, mainly because in the same period of last year, the Company gained from the sale of its50% stake in Shenzhen GuomaoTian’an Properties Co., Ltd.
15. The investment gains on associates and jointly-run enterprises for Jul.-Sept. 2015 stood at RMB 587,455.97, down74.60% from the same period of last year, mainly because the stake in jointly-run enterprise Shenzhen GuomaoTian’an Properties Co., Ltd. was sold and the relevant gains decreased.
16. The net non-business incomes and expenses for Jan.-Sept. 2015 stood at RMB -333,268.78, down107.85% from the same period of last year, mainly because the gains on disposal of fixed assets and the fine and confiscation incomes decreased during Jan.-Sept. 2015.
17. The income tax expenses for Jan.-Sept. 2015 and Jul.-Sept. 2015 stood at RMB 16,988,827.80 and RMB 5,626,782.83, down82.05% and90.44% respectively from the same period of last year, mainly because the profits achieved decreased.
18. The operating profits, total profits and net profits (attributable to the Company without subsidiaries) for Jul.-Sept. 2015 stood at RMB 20,716,221.47, RMB 20,919,751.46 and RMB 15,292,968.63 respectively, down92.31%,92.25% and92.75% from the same period of last year; the operating profits, total profits and net profits (attributable to the Company without subsidiaries) for Jan.-Sept. 2015 stood at RMB 63,777,896.95, RMB 63,444,628.17 and RMB 46,455,800.37 respectively, down84.58%,84.81% and85.62% from the same period of last year, mainly because the real estate income decreased and in the same period of last year, the Company gained from the sale of its50% stake in Shenzhen GuomaoTian’an Properties Co., Ltd.
19. Net cash flows from operating activities for Jan.-Sept. 2015 stood at RMB -39,562,655.50, with the net outflows (negative) down58.56% from the same period of last year, mainly because the cash inflows from sale of
Report for the Third Quarter of 2015 of Shenzhen Properties& Resources Development (Group) Ltd. houses increased.
20. Net cash flows from investing activities for Jan.-Sept. 2015 stood at RMB -8,021,090.40, down103.43% from the same period of last year, mainly because of the cash received in the same period of last year due to the sale of the50% stake in Shenzhen GuomaoTian’an Properties Co., Ltd.
21. Net cash flows from financing activities for Jan.-Sept. 2015 stood at RMB -82,365,414.10, with the net outflows (negative) down39.14% from the same period of last year, mainly because the borrowing repayments as well as the dividend and interest payments decreased.
22. The net increase in cash and cash equivalents for Jan.-Sept. 2015 and the balance of cash and cash equivalents at the period-end stood at RMB -128,268,567.28 and RMB 680,694,809.40, respectively down4425.54% and30.55% year on year, mainly because in the same period of last year, the Company received cash from the sale of its50% stake in Shenzhen GuomaoTian’an Properties Co., Ltd.
II. Progress and influence of significant events, as well as the analysis and explanation on solutions
□ Applicable√ Inapplicable
III. Commitments made by the Company or shareholders holding over5% of theCompany’s shares in the reporting period or such commitments carried down into the reporting period□ Applicable√ Inapplicable
No such commitments in the reporting period.
IV. Predict the 2015 annual operating results
Warnings of possible loss or large-margin change of the accumulated net profit made during the period from the beginning of the year to the end of the next reporting period compared with the same period of the last year according to prediction, as well as explanations on the reasons
√ Applicable□ Inapplicable
Type of the performance forecast: Considerable decrease at the same direction
Data type in the table of performance forecast below: Exact data
||||||
|-|-|-|-|-|
||2015|2014|+/-||
|Forecast of net profits (RMB|||||
||11,250|41,750|Down|-73.05%|
|Ten thousand)|||||
|Forecast of basic EPS (RMB|||||
||0.1888|0.7005|Down|-73.05%|
|Yuan/share)|||||
||The business performance is expected to record a significant change because the project area||||
||available for settlement in Shenzhen in 2015 is likely to decrease considerably from last year and in||||
||the same period of last year, the Company received an investment gain of RMB 207 million for the||||
|Explanation|||||
||sale of its 50% stake in Shenzhen Guomao Tian’an Properties Co., Ltd. These forecasts are only||||
||preliminary estimates according to the status quo of the sales of the Company’s real estate projects.||||
||Investors are kindly reminded that the actual gains or losses of the Company for Jan.-Dec. 2015||||

Report for the Third Quarter of 2015 of Shenzhen Properties& Resources Development (Group) Ltd.
||
|-|
|shall be subject to the data to be given in the 2015 Annual Report of the Company.|

V. Securities investment
□ Applicable√ Inapplicable
No such cases in the reporting period.
VI. Shareholdings in other listed companies
□Applicable√Inapplicable
There was no shareholding in other listed companies in the Company
VII. Investments in derivatives
□Applicable√Inapplicable
The Company did not invest in any derivative in the reporting period.
VIII. Researches, visits and interviews received in the reporting period
√Applicable□Inapplicable
|||||||
|-|-|-|-|-|-|
||||||Main discussion and|
|Time|Place|Way of reception|Visitor type|Visitor|materials provided by the|
||||||Company|
||The Company’s||||Whether suspended or not,|
|8 Jul. 2015||By phone|Individual|Investor||
||office||||bailouts|
||The Company’s||||Whether had detailed|
|28 Jul. 2015||By phone|Individual|Investor||
||office||||scheme of the bailouts|
||The Company’s||||When did the Dongguan|
|4 Aug. 2015||By phone|Individual|Investor||
||office||||Project open|
||The Company’s||||Whether Qianhai Project|
|9 Sep.2015||By phone|Individual|Investor||
||office||||open within the year or not|

Report for the Third Quarter of 2015 of Shenzhen Properties& Resources Development (Group) Ltd. Section IV. Financial Statements
I. Financial statements
1. Consolidated balance sheet
Prepared by Shenzhen Properties& Resources Development (Group) Ltd.
30 Sep. 2015
Unit: RMB Yuan
||||
|-|-|-|
|Item|Closing balance|Opening balance|
|Current assets:|||
|Monetary funds|680,694,809.40|808,963,376.68|
|Settlement reserves|||
|Intra-group lendings|||
|Financial assets measured at fair|||
|value of which changes are recorded in|||
|current profits and losses|||
|Derivative financial assets|||
|Notes receivable|||
|Accounts receivable|43,029,628.94|26,585,132.12|
|Accounts paid in advance|34,207,546.97|25,989,832.24|
|Premiums receivable|||
|Reinsurance premiums receivable|||
|Receivable reinsurance contract|||
|reserves|||
|Interest receivable|||
|Dividend receivable|||
|Other accounts receivable|11,337,830.42|6,638,425.25|
|Financial assets purchased under|||
|agreements to resell|||
|Inventories|2,541,038,867.73|2,323,472,671.20|
|Assets held for sale|||
|Non-current assets due within 1 year|||
|Other current assets|||
|Total current assets|3,310,308,683.46|3,191,649,437.49|

Report for the Third Quarter of 2015 of Shenzhen Properties& Resources Development (Group) Ltd.
||||
|-|-|-|
|Non-current assets:|||
|Loans by mandate and advances|||
|granted|||
|Available-for-sale financial assets|14,500,000.00|18,493,000.00|
|Held-to-maturity investments|||
|Long-term accounts receivable|||
|Long-term equity investment|34,142,804.55|32,888,939.41|
|Investing real estate|243,724,873.10|250,014,034.94|
|Fixed assets|68,052,059.13|64,069,233.96|
|Construction in progress|||
|Engineering materials|||
|Disposal of fixed assets|||
|Production biological assets|||
|Oil-gas assets|||
|Intangible assets|94,428,209.75|99,792,587.03|
|R&D expense|||
|Goodwill|||
|Long-term deferred expenses|2,156,804.81|2,553,053.03|
|Deferred income tax assets|234,036,501.67|216,552,790.60|
|Other non-current assets|7,275,069.00|7,275,069.00|
|Total of non-current assets|698,316,322.01|691,638,707.97|
|Total assets|4,008,625,005.47|3,883,288,145.46|
|Current liabilities:|||
|Short-term borrowings|88,000,000.00|100,000,000.00|
|Borrowings from the Central Bank|||
|Customer bank deposits and due to|||
|banks and other financial institutions|||
|Intra-group borrowings|||
|Financial liabilities measured at fair|||
|value of which changes are recorded in|||
|current profits and losses|||
|Derivative financial liabilities|||
|Notes payable|||
|Accounts payable|173,185,350.75|175,347,021.19|
|Accounts received in advance|262,106,765.42|28,756,337.08|

Report for the Third Quarter of 2015 of Shenzhen Properties& Resources Development (Group) Ltd.
||||
|-|-|-|
|Financial assets sold and repurchased|||
|Handling charges and commissions|||
|payable|||
|Payroll payable|50,659,508.82|57,777,210.65|
|Tax payable|920,936,249.15|1,015,363,636.69|
|Interest payable|540,148.94|562,879.72|
|Dividend payable|||
|Other accounts payable|136,929,845.24|111,032,824.55|
|Reinsurance premiums payable|||
|Insurance contract reserves|||
|Payables for acting trading of|||
|securities|||
|Payables for acting underwriting of|||
|securities|||
|Liabilities held for sale|||
|Non-current liabilities due within 1|||
||161,243,352.00|5,000,000.00|
|year|||
|Other current liabilities|||
|Total current liabilities|1,793,601,220.32|1,493,839,909.88|
|Non-current liabilities:|||
|Long-term borrowings|91,723,000.00|177,613,352.00|
|Bonds payable|||
|Of which: preference shares|||
|Perpetual bonds|||
|Long-term payables|||
|Long-term payroll payables|||
|Specific payables|||
|Estimated liabilities|||
|Deferred income|19,745,936.46|21,765,846.69|
|Deferred income tax liabilities|26,519.13|257,625.00|
|Other non-current liabilities|117,967,051.00|114,706,662.76|
|Total non-current liabilities|229,462,506.59|314,343,486.45|
|Total liabilities|2,023,063,726.91|1,808,183,396.33|
|Owners’ equity:|||
|Share capital|595,979,092.00|595,979,092.00|

Report for the Third Quarter of 2015 of Shenzhen Properties& Resources Development (Group) Ltd.
||||
|-|-|-|
|Other equity instruments|||
|Of which: preference shares|||
|Perpetual bonds|||
|Capital reserves|119,951,533.93|119,951,533.93|
|Less: Treasury stock|||
|Other comprehensive income|-8,890,012.23|-4,006,141.53|
|Specific reserves|||
|Surplus reserves|136,591,232.84|136,591,232.84|
|Provisions for general risks|||
|Retained profits|1,141,067,344.96|1,225,726,944.83|
|Total equity attributable to owners of|||
||1,984,699,191.50|2,074,242,662.07|
|the Company|||
|Minority interests|862,087.06|862,087.06|
|Total owners’ equity|1,985,561,278.56|2,075,104,749.13|
|Total liabilities and owners’ equity|4,008,625,005.47|3,883,288,145.46|

 Legal representative: Chen Yugang Person-in-charge of the accounting work: Wang Hangjun Chief of the accounting division: Shen Xueying
2. Balance sheet of the Company
Unit: RMB Yuan
||||
|-|-|-|
|Item|Closing balance|Opening balance|
|Current assets:|||
|Monetary funds|190,376,936.08|338,036,109.52|
|Financial assets measured at fair|||
|value of which changes are recorded in|||
|current profits and losses|||
|Derivative financial assets|||
|Notes receivable|||
|Accounts receivable|1,265,802.47|1,029,211.52|
|Accounts paid in advance|||
|Interest receivable|||
|Dividend receivable|||
|Other accounts receivable|1,820,241,929.33|1,758,238,266.73|
|Inventories|474,295,452.55|385,762,064.03|

Report for the Third Quarter of 2015 of Shenzhen Properties& Resources Development (Group) Ltd.
||||
|-|-|-|
|Assets held for sale|||
|Non-current assets due within 1 year|||
|Other current assets|||
|Total current assets|2,486,180,120.43|2,483,065,651.80|
|Non-current assets:|||
|Available-for-sale financial assets|230,500.00|4,223,500.00|
|Held-to-maturity investments|||
|Long-term accounts receivable|||
|Long-term equity investment|280,700,065.53|279,446,200.39|
|Investing real estate|160,148,178.38|162,666,161.07|
|Fixed assets|10,137,970.68|11,701,031.08|
|Construction in progress|||
|Engineering materials|||
|Disposal of fixed assets|||
|Production biological assets|||
|Oil-gas assets|||
|Intangible assets|||
|R&D expense|||
|Goodwill|||
|Long-term deferred expenses|1,340,565.48|1,470,297.69|
|Deferred income tax assets|||
|Other non-current assets|||
|Total of non-current assets|452,557,280.07|459,507,190.23|
|Total assets|2,938,737,400.50|2,942,572,842.03|
|Current liabilities:|||
|Short-term borrowings|||
|Financial liabilities measured at fair|||
|value of which changes are recorded in|||
|current profits and losses|||
|Derivative financial liabilities|||
|Notes payable|||
|Accounts payable|27,343,484.41|27,475,005.86|
|Accounts received in advance|494,180.55|556,723.50|
|Payroll payable|11,787,872.79|9,765,464.25|
|Tax payable|2,928,213.57|44,829,812.84|

Report for the Third Quarter of 2015 of Shenzhen Properties& Resources Development (Group) Ltd.
||||
|-|-|-|
|Interest payable|698,829.52|621,676.25|
|Dividend payable|||
|Other accounts payable|1,452,252,566.92|1,362,785,410.73|
|Liabilities held for sale|||
|Non-current liabilities due within 1|||
||260,000,000.00||
|year|||
|Other current liabilities|||
|Total current liabilities|1,755,505,147.76|1,446,034,093.43|
|Non-current liabilities:|||
|Long-term borrowings|91,723,000.00|276,370,000.00|
|Bonds payable|||
|Of which: preference shares|||
|Perpetual bonds|||
|Long-term payables|||
|Long-term payroll payables|||
|Specific payables|||
|Estimated liabilities|||
|Deferred income|||
|Deferred income tax liabilities||257,625.00|
|Other non-current liabilities|||
|Total non-current liabilities|91,723,000.00|276,627,625.00|
|Total liabilities|1,847,228,147.76|1,722,661,718.43|
|Owners’ equity:|||
|Share capital|595,979,092.00|595,979,092.00|
|Other equity instruments|||
|Of which: preference shares|||
|Perpetual bonds|||
|Capital reserves|94,057,859.68|94,057,859.68|
|Less: Treasury stock|||
|Other comprehensive income||2,933,175.45|
|Specific reserves|||
|Surplus reserves|135,934,422.40|135,934,422.40|
|Retained profits|265,537,878.66|391,006,574.07|
|Total owners’ equity|1,091,509,252.74|1,219,911,123.60|

Report for the Third Quarter of 2015 of Shenzhen Properties& Resources Development (Group) Ltd.
||||
|-|-|-|
|Total liabilities and owners’ equity|2,938,737,400.50|2,942,572,842.03|

 3. Consolidated income statement for the reporting period
Unit: RMB Yuan
||||
|-|-|-|
|Item|Jul.-Sept. 2015|Jul.-Sept. 2014|
|I. Operating revenues|297,288,997.73|311,190,490.67|
|Including: Sales income|297,288,997.73|311,190,490.67|
|Interest income|||
|Premium income|||
|Handling charge and commission|||
|income|||
|II. Operating costs|277,160,232.23|249,741,625.97|
|Including: Cost of sales|208,025,684.89|151,018,029.31|
|Interest expenses|||
|Handling charge and commission|||
|expenses|||
|Surrenders|||
|Net claims paid|||
|Net amount withdrawn for the|||
|insurance contract reserve|||
|Expenditure on policy dividends|||
|Reinsurance premium|||
|Taxes and associate charges|37,907,220.01|70,138,205.94|
|Selling and distribution expenses|7,578,180.79|5,734,748.44|
|Administrative expenses|24,846,620.28|24,671,417.02|
|Financial expenses|-1,190,173.21|-1,823,234.28|
|Asset impairment loss|-7,300.53|2,459.54|
|Add: Gain/(loss) from change in fair|||
|value (“-” means loss)|||
|Gain/(loss) from investment (“-”|||
||587,455.97|208,025,213.37|
|means loss)|||
|Including: share of profits in|||
||587,455.97|2,312,496.74|
|associates and joint ventures|||
|Foreign exchange gains (“-” means|||
|loss)|||
|III. Business profit (“-” means loss)|20,716,221.47|269,474,078.07|

Report for the Third Quarter of 2015 of Shenzhen Properties& Resources Development (Group) Ltd.
||||
|-|-|-|
|Add: non-operating income|252,265.29|522,989.81|
|Including: Gains on disposal of|||
|non-current assets|||
|Less: non-operating expense|48,735.30|61,312.97|
|Including: Losses on disposal of|||
||1,558.00|7,832.44|
|non-current assets|||
|IV. Total profit (“-” means loss)|20,919,751.46|269,935,754.91|
|Less: Income tax expense|5,626,782.83|58,884,855.72|
|V. Net profit (“-” means loss)|15,292,968.63|211,050,899.19|
|Net profit attributable to owners of|||
||15,292,968.63|211,050,899.19|
|the Company|||
|Minority shareholders’ income|||
|VI. After-tax net amount of other|||
||-1,932,969.54|78,925.00|
|comprehensive incomes|||
|After-tax net amount of other|||
|comprehensive incomes attributable to|-1,932,969.54|78,925.00|
|owners of the Company|||
|(I) Other comprehensive incomes|||
|that will not be reclassified into gains and|||
|losses|||
|1. Changes in net liabilities or|||
|assets with a defined benefit plan upon|||
|re-measurement|||
|2. Enjoyable shares in other|||
|comprehensive incomes in investees that|||
|cannot be reclassified into gains and|||
|losses under the equity method|||
|(II) Other comprehensive incomes|||
|that will be reclassified into gains and|-1,932,969.54|78,925.00|
|losses|||
|1. Enjoyable shares in other|||
|comprehensive incomes in investees that|||
|will be reclassified into gains and losses|||
|under the equity method|||
|2. Gains and losses on fair|||
|value changes of available-for-sale|||
|financial assets|||
|3. Gains and losses on|||
|reclassifying held-to-maturity|||

Report for the Third Quarter of 2015 of Shenzhen Properties& Resources Development (Group) Ltd.
||||
|-|-|-|
|investments into available-for-sale|||
|financial assets|||
|4. Effective hedging gains and|||
|losses on cash flows|||
|5. Foreign-currency financial|-1,932,969.54||
|||78,925.00|
|statement translation difference|||
|6. Other|||
|After-tax net amount of other|||
|comprehensive incomes attributable to|||
|minority shareholders|||
|VII. Total comprehensive incomes|13,359,999.09|211,129,824.19|
|Attributable to owners of the|13,359,999.09||
|||211,129,824.19|
|Company|||
|Attributable to minority|||
|shareholders|||
|VIII. Earnings per share|||
|(I) Basic earnings per share|0.0256|0.3541|
|(II) Diluted earnings per share|0.0256|0.3541|

 Where business mergers under the same control occurred in the reporting period, the net profit achieved by the merged parties before the business mergers was RMB 0.00, with the corresponding amount for the same period of last year being RMB 0.00.
Legal representative: Chen Yugang Person-in-charge of the accounting work: Wang Hangjun Chief of the accounting division: Shen Xueying
4. Income statement of the Company for the reporting period
Unit: RMB Yuan
||||
|-|-|-|
|Item|Jul.-Sept. 2015|Jul.-Sept. 2014|
|I. Total sales|15,351,042.05|18,602,421.15|
|Less: cost of sales|3,693,681.50|8,837,692.27|
|Business taxes and surcharges|1,728,915.06|1,600,941.77|
|Distribution expenses|243,600.00||
|Administrative expenses|10,449,066.27|10,660,683.07|
|Financial costs|-468,310.00|-803,912.29|
|Impairment loss|||
|Add: gain/(loss) from change in fairvalue (“-” means loss)|||

Report for the Third Quarter of 2015 of Shenzhen Properties& Resources Development (Group) Ltd.
||||
|-|-|-|
|Gain/(loss) from investment (“-”|||
||587,455.97|208,025,213.37|
|means loss)|||
|Including: income form investment|||
||587,455.97|2,312,496.74|
|on associates and joint ventures|||
|II. Business profit (“-” means loss)|291,545.19|206,332,229.70|
|Add: non-operating income|116,384.20|398,017.77|
|Including: Gains on disposal of|||
|non-current assets|||
|Less: non-operating expense||3,861.79|
|Including: Losses on disposal of|||
|||3,861.79|
|non-current assets|||
|III. Total profit (“-” means loss)|407,929.39|206,726,385.68|
|Less: Income tax expense|132,570.55|42,625,146.44|
|IV. Net profit (“-” means loss)|275,358.84|164,101,239.24|
|V. After-tax net amount of other|||
|comprehensive incomes|||
|(I) Other comprehensive incomes that|||
|will not be reclassified into gains and|||
|losses|||
|1. Changes in net liabilities or|||
|assets with a defined benefit plan upon|||
|re-measurement|||
|2. Enjoyable shares in other|||
|comprehensive incomes in investees|||
|that cannot be reclassified into gains|||
|and losses under the equity method|||
|(II) Other comprehensive incomes|||
|that will be reclassified into gains and|||
|losses|||
|1. Enjoyable shares in other|||
|comprehensive incomes in investees|||
|that will be reclassified into gains and|||
|losses under the equity method|||
|2. Gains and losses on fair value|||
|changes of available-for-sale financial|||
|assets|||
|3. Gains and losses on|||
|reclassifying held-to-maturity|||
|investments into available-for-sale|||

Report for the Third Quarter of 2015 of Shenzhen Properties& Resources Development (Group) Ltd.
||||
|-|-|-|
|financial assets|||
|4. Effective hedging gains andlosses on cash flows|||
|5. Foreign-currency financialstatement translation difference|||
|6. Other|||
|VI. Total comprehensive incomes|275,358.84|164,101,239.24|
|VII. Earnings per share|||
|(I) Basic earnings per share|0.0005|0.2753|
|(II) Diluted earnings per share|0.0005|0.2753|

 5. Consolidated income statement for Jan.-Sept. 2015
Unit: RMB Yuan
||||
|-|-|-|
|Item|Jan.-Sept. 2015|Jan.-Sept. 2014|
|I. Operating revenues|636,050,308.12|812,558,050.45|
|Including: Sales income|636,050,308.12|812,558,050.45|
|Interest income|||
|Premium income|||
|Handling charge and commission|||
|income|||
|II. Operating costs|579,627,409.40|613,341,249.59|
|Including: Cost of sales|407,079,845.48|381,853,260.32|
|Interest expenses|||
|Handling charge and commission|||
|expenses|||
|Surrenders|||
|Net claims paid|||
|Net amount withdrawn for the|||
|insurance contract reserve|||
|Expenditure on policy dividends|||
|Reinsurance premium|||
|Taxes and associate charges|84,688,366.10|152,426,532.16|
|Selling and distribution expenses|20,236,447.48|10,901,830.81|
|Administrative expenses|73,176,801.98|74,857,014.55|
|Financial expenses|-5,904,548.71|-8,148,467.29|

Report for the Third Quarter of 2015 of Shenzhen Properties& Resources Development (Group) Ltd.
||||
|-|-|-|
|Asset impairment loss|350,497.07|1,451,079.04|
|Add: Gain/(loss) from change in fair|||
|value (“-” means loss)|||
|Gain/(loss) from investment (“-”|||
||7,354,998.23|214,286,961.91|
|means loss)|||
|Including: share of profits in|||
||1,253,865.14|1,028,990.22|
|associates and joint ventures|||
|Foreign exchange gains (“-” means|||
|loss)|||
|III. Business profit (“-” means loss)|63,777,896.95|413,503,762.77|
|Add: non-operating income|813,344.67|4,686,154.46|
|Including: Gains on disposal of|||
|||1,892,678.92|
|non-current assets|||
|Less: non-operating expense|1,146,613.45|441,609.83|
|Including: Losses on disposal of|||
||428,479.60|62,589.57|
|non-current assets|||
|IV. Total profit (“-” means loss)|63,444,628.17|417,748,307.40|
|Less: Income tax expense|16,988,827.80|94,622,870.72|
|V. Net profit (“-” means loss)|46,455,800.37|323,125,436.68|
|Net profit attributable to owners of|||
||46,455,800.37|323,125,436.68|
|the Company|||
|Minority shareholders’ income|||
|VI. After-tax net amount of other|||
||-4,883,870.70|526,918.19|
|comprehensive incomes|||
|After-tax net amount of other|||
|comprehensive incomes attributable to|-4,883,870.70|526,918.19|
|owners of the Company|||
|(I) Other comprehensive incomes|||
|that will not be reclassified into gains and|||
|losses|||
|1. Changes in net liabilities or|||
|assets with a defined benefit plan upon|||
|re-measurement|||
|2. Enjoyable shares in other|||
|comprehensive incomes in investees that|||
|cannot be reclassified into gains and|||
|losses under the equity method|||
|(II) Other comprehensive incomes|-4,883,870.70|526,918.19|

Report for the Third Quarter of 2015 of Shenzhen Properties& Resources Development (Group) Ltd.
||||
|-|-|-|
|that will be reclassified into gains and|||
|losses|||
|1. Enjoyable shares in other|||
|comprehensive incomes in investees that|||
|will be reclassified into gains and losses|||
|under the equity method|||
|2. Gains and losses on fair|||
|value changes of available-for-sale|-2,933,175.45||
|financial assets|||
|3. Gains and losses on|||
|reclassifying held-to-maturity|||
|investments into available-for-sale|||
|financial assets|||
|4. Effective hedging gains and|||
|losses on cash flows|||
|5. Foreign-currency financial|||
||-1,950,695.25|526,918.19|
|statement translation difference|||
|6. Other|||
|After-tax net amount of other|||
|comprehensive incomes attributable to|||
|minority shareholders|||
|VII. Total comprehensive incomes|41,571,929.67|323,652,354.87|
|Attributable to owners of the|||
||41,571,929.67|323,652,354.87|
|Company|||
|Attributable to minority|||
|shareholders|||
|VIII. Earnings per share|||
|(I) Basic earnings per share|0.0779|0.5422|
|(II) Diluted earnings per share|0.0779|0.5422|

 Where business mergers under the same control occurred in this period, the net profit achieved by the merged parties before the business mergers was RMB 0.00, with the corresponding amount for the same period of last year being RMB 0.00.
6. Income statement of the Company for Jan.-Sept. 2015
Unit: RMB Yuan
||||
|-|-|-|
|Item|Jan.-Sept. 2015|Jan.-Sept. 2014|
|I. Total sales|45,203,996.02|50,719,635.15|
|Less: cost of sales|11,908,834.16|21,843,191.15|
|Business taxes and surcharges|5,879,016.54|4,972,785.43|

Report for the Third Quarter of 2015 of Shenzhen Properties& Resources Development (Group) Ltd.
||||
|-|-|-|
|Distribution expenses|243,600.00||
|Administrative expenses|30,265,006.30|29,630,038.32|
|Financial costs|-2,774,881.44|-3,584,465.85|
|Impairment loss|-616,823.91|-272,589.07|
|Add: gain/(loss) from change in fair|||
|value (“-” means loss)|||
|Gain/(loss) from investment (“-”|||
||7,188,303.69|210,120,106.85|
|means loss)|||
|Including: income form investment|||
||1,253,865.14|1,028,990.22|
|on associates and joint ventures|||
|II. Business profit (“-” means loss)|7,487,548.06|208,250,782.02|
|Add: non-operating income|132,198.65|2,144,531.46|
|Including: Gains on disposal of|||
|||431,742.33|
|non-current assets|||
|Less: non-operating expense|466,563.12|3,861.79|
|Including: Losses on disposal of|||
||82,007.63|3,861.79|
|non-current assets|||
|III. Total profit (“-” means loss)|7,153,183.59|210,391,451.69|
|Less: Income tax expense|1,506,478.76|42,625,146.44|
|IV. Net profit (“-” means loss)|5,646,704.83|167,766,305.25|
|V. After-tax net amount of other|||
||-2,933,175.45||
|comprehensive incomes|||
|(I) Other comprehensive incomes that|||
|will not be reclassified into gains and|||
|losses|||
|1. Changes in net liabilities or|||
|assets with a defined benefit plan upon|||
|re-measurement|||
|2. Enjoyable shares in other|||
|comprehensive incomes in investees|||
|that cannot be reclassified into gains|||
|and losses under the equity method|||
|(II) Other comprehensive incomes|||
|that will be reclassified into gains and|-2,933,175.45||
|losses|||
|1. Enjoyable shares in other|||
|comprehensive incomes in investees|||
|that will be reclassified into gains and|||

Report for the Third Quarter of 2015 of Shenzhen Properties& Resources Development (Group) Ltd.
||||
|-|-|-|
|losses under the equity method|||
|2. Gains and losses on fair value|||
|changes of available-for-sale financial|-2,933,175.45||
|assets|||
|3. Gains and losses on|||
|reclassifying held-to-maturity|||
|investments into available-for-sale|||
|financial assets|||
|4. Effective hedging gains and|||
|losses on cash flows|||
|5. Foreign-currency financial|||
|statement translation difference|||
|6. Other|||
|VI. Total comprehensive incomes|2,713,529.38|167,766,305.25|
|VII. Earnings per share|||
|(I) Basic earnings per share|0.0095|0.2815|
|(II) Diluted earnings per share|0.0095|0.2815|

 7. Consolidated cash flow statement for Jan.-Sept. 2015
Unit: RMB Yuan
||||
|-|-|-|
|Item|Jan.-Sept. 2015|Jan.-Sept. 2014|
|I. Cash flows from operating activities:|||
|Cash received from sale of|||
||924,011,912.63|848,250,185.13|
|commodities and rendering of service|||
|Net increase of deposits from|||
|customers and dues from banks|||
|Net increase of loans from the central|||
|bank|||
|Net increase of funds borrowed from|||
|other financial institutions|||
|Cash received from premium of|||
|original insurance contracts|||
|Net cash received from reinsurance|||
|business|||
|Net increase of deposits of policy|||
|holders and investment fund|||
|Net increase of disposal of financial|||
|assets measured at fair value of which|||

Report for the Third Quarter of 2015 of Shenzhen Properties& Resources Development (Group) Ltd.
||||
|-|-|-|
|changes are recorded into current gains|||
|and losses|||
|Cash received from interest, handling|||
|charges and commissions|||
|Net increase of intra-group|||
|borrowings|||
|Net increase of funds in repurchase|||
|business|||
|Tax refunds received|||
|Other cash received relating to|||
||14,557,600.81|13,683,112.18|
|operating activities|||
|Subtotal of cash inflows from operating|||
||938,569,513.44|861,933,297.31|
|activities|||
|Cash paid for goods and services|442,715,869.91|427,802,820.07|
|Net increase of customer lendings|||
|and advances|||
|Net increase of funds deposited in the|||
|central bank and amount due from|||
|banks|||
|Cash for paying claims of the original|||
|insurance contracts|||
|Cash for paying interest, handling|||
|charges and commissions|||
|Cash for paying policy dividends|||
|Cash paid to and for employees|231,422,695.09|207,155,104.66|
|Various taxes paid|244,719,087.74|257,744,966.31|
|Other cash payment relating to|||
||59,274,516.20|64,710,527.14|
|operating activities|||
|Subtotal of cash outflows from|||
||978,132,168.94|957,413,418.18|
|operating activities|||
|Net cash flows from operating activities|-39,562,655.50|-95,480,120.87|
|II. Cash flows from investing activities:|||
|Cash received from withdrawal of|||
||6,511,297.75||
|investments|||
|Cash received from return on|||
||580,374.89||
|investments|||
|Net cash received from disposal of|||
||662,962.00|1,365,975.00|
|fixed assets, intangible assets and other|||

Report for the Third Quarter of 2015 of Shenzhen Properties& Resources Development (Group) Ltd.
||||
|-|-|-|
|long-term assets|||
|Net cash received from disposal of|||
|||237,421,380.00|
|subsidiaries or other business units|||
|Other cash received relating to|||
|investing activities|||
|Subtotal of cash inflows from investing|||
||7,754,634.64|238,787,355.00|
|activities|||
|Cash paid to acquire fixed assets,|||
|intangible assets and other long-term|15,775,725.04|4,994,104.68|
|assets|||
|Cash paid for investment|||
|Net increase of pledged loans|||
|Net cash paid to acquire subsidiaries|||
|and other business units|||
|Other cash payments relating to|||
|investing activities|||
|Subtotal of cash outflows from|||
||15,775,725.04|4,994,104.68|
|investing activities|||
|Net cash flows from investing activities|-8,021,090.40|233,793,250.32|
|III. Cash Flows from Financing|||
|Activities:|||
|Cash received from capital|||
|contributions|||
|Including: Cash received from|||
|minority shareholder investments by|||
|subsidiaries|||
|Cash received from borrowings|163,353,000.00|366,370,000.00|
|Cash received from issuance of|||
|bonds|||
|Other cash received relating to|||
|financing activities|||
|Subtotal of cash inflows from financing|||
||163,353,000.00|366,370,000.00|
|activities|||
|Repayment of borrowings|105,000,000.00|331,616,666.64|
|Cash paid for interest expenses and|||
||140,613,914.10|167,654,368.92|
|distribution of dividends or profit|||
|Including: dividends or profit paid|||
|by subsidiaries to minority shareholders|||

Report for the Third Quarter of 2015 of Shenzhen Properties& Resources Development (Group) Ltd.
||||
|-|-|-|
|Other cash payments relating to|||
||104,500.00|2,424,000.00|
|financing activities|||
|Sub-total of cash outflows from|||
||245,718,414.10|501,695,035.56|
|financing activities|||
|Net cash flows from financing activities|-82,365,414.10|-135,325,035.56|
|IV. Effect of foreign exchange rate|||
||1,680,592.72|-22,719.68|
|changes on cash and cash equivalents|||
|V. Net increase in cash and cash|||
||-128,268,567.28|2,965,374.21|
|equivalents|||
|Add: Opening balance of cash and|||
||808,963,376.68|977,171,814.20|
|cash equivalents|||
|VI. Closing balance of cash and cash|||
||680,694,809.40|980,137,188.41|
|equivalents|||

8. Cash flow statement of the Company for Jan.-Sept. 2015
Unit: RMB Yuan
||||
|-|-|-|
|Item|Jan.-Sept. 2015|Jan.-Sept. 2014|
|I. Cash flows from operating activities:|||
|Cash received from sale of|||
||44,852,046.57|41,333,162.34|
|commodities and rendering of service|||
|Tax refunds received|||
|Other cash received relating to|||
||378,010,218.07|523,345,890.17|
|operating activities|||
|Subtotal of cash inflows from operating|||
||422,862,264.64|564,679,052.51|
|activities|||
|Cash paid for goods and services|75,997,047.38|28,256,540.32|
|Cash paid to and for employees|14,484,460.92|17,341,692.11|
|Various taxes paid|56,918,825.92|6,834,481.98|
|Other cash payment relating to|||
||360,182,216.54|968,821,035.98|
|operating activities|||
|Subtotal of cash outflows from|||
||507,582,550.76|1,021,253,750.39|
|operating activities|||
|Net cash flows from operating activities|-84,720,286.12|-456,574,697.88|
|II. Cash flows from investing activities:|||
|Cash received from withdrawal of|||
||6,511,297.75|280,000,000.00|
|investments|||
|Cash received from return on|580,374.89|4,009,800.00|

Report for the Third Quarter of 2015 of Shenzhen Properties& Resources Development (Group) Ltd.
||||
|-|-|-|
|investments|||
|Net cash received from disposal of|||
|fixed assets, intangible assets and other|4,980.00|2,200.00|
|long-term assets|||
|Net cash received from disposal of|||
|||237,421,380.00|
|subsidiaries or other business units|||
|Other cash received relating to|||
|investing activities|||
|Subtotal of cash inflows from investing|||
||7,096,652.64|521,433,380.00|
|activities|||
|Cash paid to acquire fixed assets,|||
|intangible assets and other long-term|54,770.00|660,565.00|
|assets|||
|Cash paid for investment|||
|Net cash paid to acquire subsidiaries|||
|and other business units|||
|Other cash payments relating to|||
|investing activities|||
|Subtotal of cash outflows from|||
||54,770.00|660,565.00|
|investing activities|||
|Net cash flows from investing activities|7,041,882.64|520,772,815.00|
|III. Cash Flows from Financing|||
|Activities:|||
|Cash received from capital|||
|contributions|||
|Cash received from borrowings|75,353,000.00|276,370,000.00|
|Cash received from issuance of|||
|bonds|||
|Other cash received relating to|||
|financing activities|||
|Subtotal of cash inflows from financing|||
||75,353,000.00|276,370,000.00|
|activities|||
|Repayment of borrowings||240,000,000.00|
|Cash paid for interest expenses and|||
||145,116,098.15|162,116,848.94|
|distribution of dividends or profit|||
|Other cash payments relating to|||
|||208,000.00|
|financing activities|||
|Sub-total of cash outflows from|145,116,098.15|402,324,848.94|

Report for the Third Quarter of 2015 of Shenzhen Properties& Resources Development (Group) Ltd.
||||
|-|-|-|
|financing activities|||
|Net cash flows from financing activities|-69,763,098.15|-125,954,848.94|
|IV. Effect of foreign exchange rate|||
||-217,671.81|-393,186.04|
|changes on cash and cash equivalents|||
|V. Net increase in cash and cash|||
||-147,659,173.44|-62,149,917.86|
|equivalents|||
|Add: Opening balance of cash and|||
||338,036,109.52|420,568,966.65|
|cash equivalents|||
|VI. Closing balance of cash and cash|||
||190,376,936.08|358,419,048.79|
|equivalents|||

II.Auditor’s report
Is this report audited?
□ Yes√ No
This report is not audited.