2015 Semi-annual Report of Shenzhen Properties& Resources Development (Group) Ltd. SHENZHEN PROPERTIES& RESOURCES
DEVELOPMENT (GROUP) LTD.
2015 Semi-annual Report
2015-19
August 2015
2015 Semi-annual Report of Shenzhen Properties& Resources Development (Group) Ltd. Section I. Important Reminders, Contents& Explanation
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.
The Company plans not to distribute cash dividends or bonus shares or turn capital reserve into share capital.
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.
2015 Semi-annual Report of Shenzhen Properties& Resources Development (Group) Ltd. Contents
2015 Semi-annual Report..................................................................................................................1 Section I. Important Reminders, Contents& Explanation............................................................2 Section II. Company Profile..............................................................................................................5 Section III. Highlights of Accounting Data& Financial Indicators..............................................7 Section IV. Report of the Board of Directors...................................................................................9 Section V. Significant Events...........................................................................................................17 Section VI. Change in Shares& Shareholders..............................................................................25 Section VII. Preferred Shares.........................................................................................................29 Section VIII. Directors, Supervisors& Senior Management Staff..............................................30 Section IX. Financial Report...........................................................................................................31 Section X. Documents Available for Reference...........................................................................162
2015 Semi-annual Report of Shenzhen Properties& Resources Development (Group) Ltd. Explanation
||||
|-|-|-|
||Refers||
|Term||Contents|
||to||
||Refers||
|Company, the Company||Shenzhen Properties & Resources Development (Group) Ltd.|
||to||
||Refers|Shenzhen Municipal People’s Government State-owned Assets|
|Shenzhen SASAC|||
||to|Supervision and Administration Commission|
||Refers||
|SIHC||Shenzhen Investment Holdings Co., Ltd.|
||to||
||Refers||
|SCIHC||Shenzhen Construction Investment Holdings Corporation|
||to||
||Refers||
|SIM||Shenzhen Investment Management Co., Ltd.|
||to||

2015 Semi-annual Report of Shenzhen Properties& Resources Development (Group) Ltd. Section II. Company Profile
I. Basic information of the Company
|||||
|-|-|-|-|
|Stock abbreviation|SWYA, SWYB|Stock code|000011, 200011|
|Stock exchange listed with|Shenzhen Stock Exchange|||
|Chinese name of the Company|深圳市物业发展(集团)股份有限公司|||
|Abbr. of the Chinese name of||||
||深物业集团|||
|the Company (if any)||||
|English name of the Company||||
||ShenZhen Properties & Resources Development（Group） Ltd.|||
|(if any)||||
|Abbr. of the English name of||||
||SZPRD|||
|the Company (if any)||||
|Legal representative of the|Mr. Chen Yugang|||
|Company||||

II. Contact information
||||
|-|-|-|
||Company Secretary|Securities Affairs Representative|
|||Qian Zhong, Huang Fengchun|
|Name|Fan Weiping||
||42/F, International Trade Center, Renmin|42/F, International Trade Center, Renmin|
|Contact address|South Road, Shenzhen, Guangdong|South Road, Shenzhen, Guangdong|
||Province, P.R.China|Province, P.R.China|
|Tel.|0755-82211020|0755-82211020|
|Fax|0755-82210610 82212043|0755-82210610 82212043|
|E-mail|000011touzizhe@szwuye.com.cn|000011touzizhe@szwuye.com.cn|

III. Other information
1. Ways to contact the Company
Did any change occur to the registered address, office address and their postal codes, website address and email address of the Company during the reporting period?
□ Applicable√ Inapplicable
The registered address, office address and their postal codes, website address and email address of the Company did not change
during the reporting period. The said information can be found in the 2014 Annual Report.
2015 Semi-annual Report of Shenzhen Properties& Resources Development (Group) Ltd. 2. About information disclosure and where this report is placed
Did any change occur to information disclosure media and where this report is placed during the reporting period?
□ Applicable√ Inapplicable
The newspapers designated by the Company for information disclosure, the website designated by CSRC for disclosing this report and the location where this report is placed did not change during the reporting period. The said information can be found in the 2014 Annual Report.
3. Change of the registered information
Did any change occur to the registered information during the reporting period?
□ Applicable√ Inapplicable
The registration date and place of the Company, its business license No., taxation registration No. and organizational code did not change during the reporting period. The said information can be found in the 2014 Annual Report.
2015 Semi-annual Report of Shenzhen Properties& Resources Development (Group) Ltd. Section III. Highlights of Accounting Data& Financial Indicators I. Major accounting data and financial indicators
Does the Company adjust retrospectively or restate accounting data of previous years due to change of any accounting policy or correction of any accounting error?
□ Yes√ No
|||||
|-|-|-|-|
||Reporting period|Same period of last year|YoY +/- (%)|
|Operating revenues (RMB Yuan)|338,761,310.39|501,367,559.78|-32.43%|
|Net profit attributable to shareholders of|31,162,831.74|112,074,537.49||
||||-72.19%|
|the Company (RMB Yuan)||||
|Net profit attributable to shareholders of||||
||26,946,876.19|103,434,750.14|-73.95%|
|the Company after extraordinary gains and||||
|losses (RMB Yuan)||||
|Net cash flows from operating activities|-221,909,180.93|-189,887,490.37||
||||16.86%|
|(RMB Yuan)||||
|Basic EPS (RMB Yuan/share)|0.0523|0.1881|-72.20%|
|Diluted EPS (RMB Yuan/share)|0.0523|0.1881|-72.20%|
|Weighted average ROE (%)|1.52%|6.19%|-4.67%|
||As at the end of the|||
|||As at the end of last year|+/- (%)|
||reporting period|||
|Total assets (RMB Yuan)|3,756,568,697.53|3,883,288,145.46|-3.26%|
|Net assets attributable to shareholders of|1,971,339,192.41|2,074,242,662.07||
||||-4.96%|
|the Company (RMB Yuan)||||

II. Differences between accounting data under domestic and overseas accounting standards 1. Differences of net profit and net assets disclosed in financial reports prepared under international and Chinese accounting standards
□ Applicable□ Inapplicable
No difference for the reporting period.
2. Differences of net profit and net assets disclosed in financial reports prepared under overseas and Chinese accounting standards
□ Applicable□ Inapplicable
No difference for the reporting period.
2015 Semi-annual Report of Shenzhen Properties& Resources Development (Group) Ltd. III. Items and amounts of extraordinary gains and losses
√Applicable□ Inapplicable
Unit: RMB Yuan
||||
|-|-|-|
|Item|Amount|Explanation|
|Gains/losses on the disposal of non-current assets (including the|-426,921.60||
|offset part of asset impairment provisions)|||
|Gains and losses on change in fair value from tradable financial|6,101,133.09|Gain on sale of shares of HuasuHoldings|
|assets and tradable financial liabilities, as well as investment|||
|income from disposal of tradable financial assets and tradable|||
|financial liabilities and financial assets available for sales except|||
|for effective hedging related with normal businesses of the|||
|Company|||
|Other non-operating income and expenses other than the above|-109,877.17||
|Less: Income tax effects|1,348,378.77||
|Total|4,215,955.55|--|

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
No such cases during the reporting period.
2015 Semi-annual Report of Shenzhen Properties& Resources Development (Group) Ltd. Section IV. Report of the Board of Directors
I. Overview
If 2014 marked the beginning of the “new normal state” of the real estate sector, the market trends in the first half of 2015 have proven quite so. As the macro-economy stepped into a “new normal state”, the adjustment trend in the real estate market continued from last year to the beginning of the first half of 2015. In order to ensure the steady development of the real estate sector, the central and local governments unveiled a series of favorable policies to promote destocking and investment, including the centralbank’s successive reductions of the required reserve rate and the loan interest rate, credit easing, the adjustment to the business tax exemption period for transfer ofindividuals’ houses, more support for housing accumulation fund loans, etc. In the meantime, the governments also proactively pushed forward long-term mechanisms. As a result, the main indicators of house trading in China finally showed by this June a trend of gradual recovery by the positive year-on-year growth both in the sold area and the sales income, the decreasing area of commodity houses in stock, etc. Despite a pickup of the general indicators, the national real estate sector saw, however, some clear differentiations in the first half of the year, four first-tier cities even in a peak, major second-tier cities in gradual pickup and third and fourth-tier cities still struggling for destocking. Such differentiations among cities and regions have become an important factor for real estate developers to consider when they try to avoid investment risks. Looking into the second half of the year, we still hold a firm belief that the real estate sector is substantially important to the macro-economy, that the urbanization drive will promote development in the sector, and that the market will rise to further stability from the bottom in the first half of the year and keep to the path of the so-called “Silver Age” for the coming future.
Considering the market situation and our business performance, we accelerated the construction progress of our ongoing real estate projects, proactively sought for effective marketing measures and swiftly implemented them, and seized opportunities arising from favorable policies for the market so as to maintain a stable operating performance. For the first half of 2015, we achieved operating revenues of RMB 338.761 million and net profits of RMB 31.217 million.
II. Main business analysis
YoY change of major financial data:
Unit: RMB Yuan
||||||
|-|-|-|-|-|
||Reporting period|Same period of last year|YoY +/-%|Main reasons for change|
||338,761,310.39|501,367,559.78||Projects settled and sales|
|Operating revenues|||-32.43%||
|||||realized decreased.|
||199,054,160.59|230,835,231.01||The income from settled|
|Operating costs|||-13.77%||
|||||projects decreased.|
||12,658,266.69|5,167,082.37||Marketing was enhanced|
|Selling expenses|||144.98%||
|||||and the advertising|

2015 Semi-annual Report of Shenzhen Properties& Resources Development (Group) Ltd.
||||||
|-|-|-|-|-|
|||||expenses increased.|
|Administrative expenses|48,330,181.70|50,185,597.53|-3.70%||
||-4,714,375.50|-6,325,233.01||The interest income|
|Financial expenses|||-25.47%||
|||||decreased.|
||11,362,044.97|35,738,015.00||The profits achieved|
|Income tax expenses|||-68.21%||
|||||decreased.|
||-221,909,180.93|-189,887,490.37||The capital inflows from|
|Net cash flows from|||||
||||16.86%|sale of projects|
|operating activities|||||
|||||decreased.|
||-7,669,730.46|-2,452,735.80||The taxi subsidiary’s|
|Net cash flows from|||||
||||212.70%|expenses on the renewal|
|investing activities|||||
|||||of their vehicles|
||-96,151,660.47|-217,614,297.27||Net cash outflows|
|Net cash flows from||||decreased mainly|
||||-55.82%||
|financing activities||||because of the decreased|
|||||borrowing repayments.|
||-325,965,954.84|-409,900,929.50||The capital inflows from|
|Net increase in cash and|||||
||||-20.48%|sale of projects|
|cash equivalents|||||
|||||decreased.|
|||||The real estate income|
|||||decreased and the|
|Business tax and surtaxes|46,781,146.09|82,288,326.22|-43.15%||
|||||business tax, VAT, etc.|
|||||decreased accordingly.|
|Net profit attributable to||||The real estate income|
||31,162,831.74|112,074,537.49|-72.19%||
|owners of the Company||||decreased.|

Major changes to the profit structure or sources of the Company during the reporting period:
□ Applicable√ Inapplicable
No major changes occurred to the profit structure or sources of the Company during the reporting period.
Reporting period progress of the future development planning in the disclosed documents of the Company such as share-soliciting prospectuses, offering prospectuses, asset reorganization reports, etc.:
□ Applicable√ Inapplicable
There was no progress of the future development planning in the disclosed documents of the Company such as share-soliciting prospectuses, offering prospectuses, asset reorganization reports during reporting period.
Overview of the reporting period progress of the business plans disclosed in previous periods:
TheCompany’s business operated orderly as planed, which can finish the year budget.
III. Breakdown of main business
Unit: RMB Yuan
|||||||
|-|-|-|-|-|-|
|Operating|Operating cost|Gross profit rate|Increase/decrease|Increase/decrease|Increase/decrease|

2015 Semi-annual Report of Shenzhen Properties& Resources Development (Group) Ltd.
||||||||
|-|-|-|-|-|-|-|
||revenue||(%)|of operating|of operating cost|of gross profit|
|||||revenue over last|over last year (%)|rate over last year|
|||||year (%)||(%)|
|Classified by industry:|||||||
|Real estate|||||||
||86,897,639.00|18,449,140.36|78.77%|-66.87%|-68.33%|0.98%|
|development|||||||
|House leasing|||||||
||185,142,262.85|144,581,216.66|21.91%|9.56%|6.26%|2.43%|
|and management|||||||
|Transportation|29,724,103.57|13,396,208.12|54.93%|0.88%|2.59%|-0.75%|
|Catering service|11,634,507.50|9,541,886.80|17.99%|9.79%|4.93%|3.80%|
|Others|4,502,655.10|5,121,939.55|-13.75%|-2.02%|15.57%|-17.32%|
|Classified by product:|||||||
|Real estate|||||||
||86,897,639.00|18,449,140.36|78.77%|-66.87%|-68.33%|0.98%|
|development|||||||
|House leasing|||||||
||185,142,262.85|144,581,216.66|21.91%|9.56%|6.26%|2.43%|
|and management|||||||
|Transportation|29,724,103.57|13,396,208.12|54.93%|0.88%|2.59%|-0.75%|
|Catering service|11,634,507.50|9,541,886.80|17.99%|9.79%|4.93%|3.80%|
|Others|4,502,655.10|5,121,939.55|-13.75%|-2.02%|15.57%|-17.32%|
|Classified by region:|||||||
|Shenzhen|251,581,852.90|124,815,624.29|50.39%|-41.11%|-26.39%|-9.92%|
|Other|87,179,457.52|74,238,536.30|14.84%|17.51%|21.17%|-2.57%|

 IV. Core competitiveness analysis
So far, there are five projects in construction for sale in the Company, respectively located in Shenzhen, Xuzhou, Yangzhou and Dongguan, of which, SZPRD-Banshan Yujing (Xuzhou), SZPRD-Hupan Yujing (Yangzhou) and SZPRD-Songhu Langyuan (Dongguan) are projects on sale, Yangzhou project is located in Shouxi Lake District, Yangzhou, the phase I project had deliver the house to the buyers. Dongguan project is located in Songshan Lake District; principal part of the project has been capped, theCompany’s on-sale projects are conducted the sale in line with the arrangements steadily. SZPRD-Qianhai Harbor project located in Shenzhen Qianhai District, is on the construction of main structure engineering; SZPRD-Golden Collar Holiday project located in Shenzhen Huanggang Port is in the construction of pile foundation engineering, the project is successfully progressing, the two projects in Shenzhen are in premium locations, and the cost of the land is low; as the speedy development of property market of Shenzhen in the first half, the economic effectiveness of the project is further enhanced.
Each project of the Company is under processing successfully, which achieves good performance
for the company to lay a solid foundation. Firmly gripping property main business simultaneously,
2015 Semi-annual Report of Shenzhen Properties& Resources Development (Group) Ltd. keeps the healthy development of house lease, property management, car passenger and other supplementary industry. The income increased compare to that in same period of last year, the Company will continue to seek broaden project actively, expands the profits of supplementary industry, comprehensively promote the competitiveness of the company
V. Investment analysis
1. Investments in equities of external parties
(1) Investments in external parties
□ Applicable√ Inapplicable
No such cases in the reporting period.
(2) Equity-holdings in financial enterprises
□ Applicable√ Inapplicable
No such cases in the reporting period.
(3) Securities investments
□ Applicable√ Inapplicable
No such cases in the reporting period.
(4) Shareholdings in other listed companies
√ Applicable□ Inapplicable
2. Wealth management entrustment, derivative investments and entrustment loans
(1) Wealth management entrustment
□ Applicable√ Inapplicable
No such cases in the reporting period.
(2) Derivative investments
□ Applicable√ Inapplicable
No such cases in the reporting period.
(3) Entrustment loans
□ Applicable√ Inapplicable
No such cases in the reporting period.
2015 Semi-annual Report of Shenzhen Properties& Resources Development (Group) Ltd. 3. Use of raised funds
□ Applicable√ Inapplicable
No such cases in the reporting period.
4. Analysis to main subsidiaries and stock-participating companies
√ Applicable□ Inapplicable
Main subsidiaries and stock-participating companies:
Unit: RMB Yuan
|||||||||||
|-|-|-|-|-|-|-|-|-|-|
||||Main||||||Net profit|
|Company|Company|||Registered|||Operating|Operating||
|||Industry|||Total assets|Net assets||||
||||products/ser|||||||
|name|variety|||capital|||revenues|profit||
||||vices|||||||
|Shenzhen|||Sale of|||||||
|Huangchen|||houses &|||||||
|||||30,000,000.|1,911,410,7|787,488,27|94,663,887.|19,251,22|14,500,504.8|
|g Real|Subsidiary|Real estate|Property|||||||
|||||00|44.21|3.76|06|0.28|9|
|Estate Co.,|||managemen|||||||
|Ltd.|||t|||||||
|Shenzhen||||||||||
|Guomao||Property|Property|||||||
|||||20,000,000.|236,307,51|80,840,003.|157,617,12|13,774,73|10,170,336.0|
|Property|Subsidiary|managemen|managemen|||||||
|||||00|6.99|06|1.57|3.06|8|
|Managemen||t|t|||||||
|t Co., Ltd.||||||||||
|Shenzhen|||Sale of||||||8,219,922.86|
|Guomao||motor|houses and|||||||
|||||29,850,000.|479,320,03|222,695,28|37,367,616.|10,720,33||
|Vehicle|Subsidiary|transportati|motor|||||||
|||||00|5.23|8.96|43|4.16||
|Industry||on|transportati|||||||
|Co., Ltd.|||on|||||||

5. Significant projects invested with non-raised funds
√ Applicable□ Inapplicable
Unit: RMB Ten Thousand Yuan
|||||||||
|-|-|-|-|-|-|-|-|
||||Cumulativeactual input as|||||
||Total planned|Input for this||Project|Project|Disclosure date|Disclosure|
|Project name||||||||
|||||||(if any)|index (if any)|
||investment|period|at the|progress|earnings|||
||||period-end|||||
|SZPRD-Bansh||||||||
|anyujing (first||||||||
||84,000|1,817|56,163|||||
|and second||||||||
|phases)||||||||
|SZPRD-Songh||||||||
||100,555|8,213|51,233|||||
|ulangyuan||||||||

2015 Semi-annual Report of Shenzhen Properties& Resources Development (Group) Ltd.
|||||||||
|-|-|-|-|-|-|-|-|
|SZPRD-Hupan||||||||
|yujing (first||||||||
||120,000|1,814|78,317|||||
|and second||||||||
|phases)||||||||
|SZPRD-Qianha||||||||
||84,232|6,674|39,294|||||
|i Bay||||||||
|SZPRD-Golde||||||||
|n Collar|150,000|2,042|13,528|||||
|Holiday||||||||
|Total|538,787|20,560|238,535|--|--|--|--|

 VI. Predict the operating results of Jan.-Mar. 2015
Warning of possible loss or considerable YoY change of the accumulated net profit made during the period-begin to the end of the next reporting period according to prediction, as well as explanations on the reasons:
√ Applicable□ Inapplicable
Prediction: Considerable decrease at the same direction
Type of the predicted data: exact data
||||||
|-|-|-|-|-|
||Jan.-Sept. 2015|Jan.-Sept.2014|+/- (%)||
|Predicted accumulative net|||||
||4,000|32,313|Down|-87.62%|
|profit (RMB Ten thousand)|||||
|Basic EPS (RMB Yuan/share)|0.0671|0.5422|Down|-87.62%|
||Reason for the considerable fluctuation of the business results: The project sales and the area||||
||available for settlement in Jan.-Sept. 2015decreased considerably on the year-on-year basis. The||||
|Explanation about the|aforesaid estimate is just preliminary measurement given by the Company according to the current||||
|predictions|sales situation of real estate projects. Investors are kindly reminded to be noted that the actual||||
||earnings of the Company for Jan.-Sept. 2015 shall be subject to data disclosed in the Company’s||||
||report for the third quarter of 2015.||||

VII. Explanation of the Board of Directors and the Supervisory Committee on the “Non-standard Audit Report” issued by the CPAs firm for the reporting period
□Applicable√Inapplicable
VIII. Explanation of the Board of Directors on the issues mentioned in the “Non-standard Audit Report” issued by the CPAs firm for last year
□Applicable√Inapplicable
2015 Semi-annual Report of Shenzhen Properties& Resources Development (Group) Ltd. IX. Implementation of profit allocation during the reporting period
Profit allocation plan implemented during the reporting period, especially execution and adjustment of the cash dividend plan and the plan for turning capital reserve into share capital:
√ Applicable□ Inapplicable
The for the specific Allocation Plan, please refer to sees Implementation Announcement on Dividend Allocation Annual Plan of 2015-14-2014 in Securities Times, Ta Kung Pao and http//www.cninfo.com.cn.
|||
|-|-|
|Special statement about the cash dividend policy||
|In compliance with the Company’s Articles of Association and||
||Yes|
|the resolution of the general meeting||
|Specific and clear dividend standard and ratio|Yes|
|Complete decision-making procedure and mechanism|Yes|
|Independent directors fulfilled their responsibilities and played||
||Yes|
|their due role.||
|Minority shareholders have the chance to fully express their||
|opinion and desire and their legal rights and interests were fully|Yes|
|protected.||
|In adjustment or alteration of the cash dividend policy, the||
|conditions and procedure were in compliance with regulations|Yes|
|and transparent.||

X. Pre-plan for profit allocation and turning capital reserve into share capital for the reporting period
□ Applicable√ Inapplicable
The Company planed not to distribute cash dividends or bonus shares or turn capital reserve into share capital for the reporting period.
XI. Particulars about researches, visits and interviews received in this reporting period√ Applicable□ Inapplicable
|||||||
|-|-|-|-|-|-|
||||||Main discussion and|
|Time|Place|Way of reception|Visitor type|Visitor|materials provided by the|
||||||Company|
||Office of the|Telephone|||Whether had new houses in|
|9 Apr. 2015|||Individual|Investor||
||Company|communication|||Second quarter|
||Office of the|Telephone|||Any action of State-owned|
|14 May 2015|||Individual|Investor||
||Company|communication|||enterprise reform|
|30 Jun. 2015|Office of the|Telephone|Individual|Investor|Whether considering|

2015 Semi-annual Report of Shenzhen Properties& Resources Development (Group) Ltd.
||||
|-|-|-|
|Company|communication|suspension measures or not|

2015 Semi-annual Report of Shenzhen Properties& Resources Development (Group) Ltd. Section V. Significant Events
I. Corporate governance
There is not discrepancy between the corporate governance and Company Law, relevant regulations of CSRC.
II. Lawsuits or arbitrations
Significant lawsuits or arbitrations
□ Applicable√ Inapplicable
No such cases in the reporting period.
Other lawsuits or arbitrations
□ Applicable√ Inapplicable
III.Media’s queries
□ Applicable√ Inapplicable
No such cases in the reporting period.
IV. Bankruptcy and reorganization
□ Applicable√ Inapplicable
Bankruptcy and reorganization did not occur to the Company in the reporting period.
V. Asset transactions
1. Purchase of assets
□ Applicable√ Inapplicable
No such cases in the reporting period.
2. Sale of assets
□ Applicable√ Inapplicable
No such cases in the reporting period.
3. Business combination
□ Applicable√ Inapplicable
No such cases in the reporting period.
2015 Semi-annual Report of Shenzhen Properties& Resources Development (Group) Ltd. VI. Implementation of equity incentive and its influence
□ Applicable√ Inapplicable
The Company did not make or carry out any equity incentive plan during the reporting period.
VII. Significant related-party transactions
1. Related-party transactions concerning routine operation
□ Applicable√ Inapplicable
No such cases in the reporting period.
2. Related-party transactions arising from asset acquisition or sale
□ Applicable√ Inapplicable
No such cases in the reporting period.
3. Significant related-party transactions arising from joint investment in external parties
□ Applicable√ Inapplicable
No such cases in the reporting period.
4. Credits and liabilities with related parties
√ Applicable□ Inapplicable
Was there any credit or liability with any related party for non-operating purpose?
√ Yes□ No
The credits and liabilities with relatedparties’ receivable:
|||||||||||
|-|-|-|-|-|-|-|-|-|-|
||||||Newly|||||
|||||||Amount||||
||||||increase|||Interest in||
||||Non-operati|Opening||received in|||Closing|
||||||amount in|||reporting||
|Related|||ng capital|balance||reporting|||balance|
||Relationship|Reason|||reporting||Rate|period||
|party|||occupation|(RMB Ten||period|||(RMB Ten|
||||||period|||(RMB Ten||
||||or not?|thousand)||(RMB Ten|||thousand)|
||||||(RMB Ten|||thousand)||
|||||||thousand)||||
||||||thousand)|||||
|||Creditor’s||||||||
|Anhui|The|rights||||||||
|Nanpeng|Company|receivable|Working|||||||
|||||733|||||732|
|Papermakin|held a 30%|from the|funds|||||||
|g Co., Ltd|stake in it.|related||||||||
|||party||||||||
|Shenzhen|The|Creditor’s|Working|235|||||235|

2015 Semi-annual Report of Shenzhen Properties& Resources Development (Group) Ltd.
|||||||
|-|-|-|-|-|-|
|Guomao|Company|rights|funds|||
|Industry|held a|receivable||||
|Developmen|38.33%|from the||||
|t Co., Ltd.|stake in it.|related||||
|||party||||
|Shenzhen||Creditor’s||||
|Wufang|The|rights||||
|Pottery &|Company|receivable|Working|||
|||||175|175|
|Porcelain|held a 26%|from the|funds|||
|Industrial|stake in it.|related||||
|Co., Ltd||party||||
||Under the|Creditor’s||||
||same control|rights||||
|Shenzhen||||||
||of the parent|receivable|Intra-Group|||
|Guest House||||91|91|
||company of|from the|funds|||
|Co., Ltd.||||||
||the|related||||
||Company|party||||
||Under the|Creditor’s||||
|Shenzhen||||||
||same control|rights||||
|Investment||||||
||of the parent|receivable|Intra-Group|||
|Property||||13|13|
||company of|from the|funds|||
|Developmen||||||
||the|related||||
|t Co., Ltd.||||||
||Company|party||||
|Influence of the credits||||||
|and liabilities with related||||||
|||All under the risk control of the Company and will not affect the Company’s operating results and||||
|parties on the Company’s||||||
|||financial situation||||
|operating results and||||||
|financial situation||||||

The credits and liabilities with relatedparties’ payable:
||||||||||
|-|-|-|-|-|-|-|-|-|
|||||Newly|||||
||||||Amount||||
|||||increase|||||
||||Opening||returned in||Interest in|Closing|
|||||amount in|||||
||||balance||reporting||reporting|balance|
|Related party|Relationship|Reason||reporting||Rate|||
||||(RMB Ten||period||period (RMB|(RMB Ten|
|||||period|||||
||||thousand)||(RMB Ten||Ten thousand)|thousand)|
|||||(RMB Ten|||||
||||||thousand)||||
|||||thousand)|||||
|SZPRD Jifa|Joint venture||||||||
|||Intra-Group|||||||
|Warehouse|of the||2,630|||||2,630|
|||funds|||||||
|Co., Ltd|Company||||||||
|Shenzhen|Joint venture||||||||
|||Intra-Group|||||||
|Tian’an|of the||411|110||||521|
|||funds|||||||
|International|Company||||||||

2015 Semi-annual Report of Shenzhen Properties& Resources Development (Group) Ltd.
|||
|-|-|
|Building||
|Property||
|Management||
|Co., Ltd||
|Influence of the credits and||
|liabilities with related parties||
||All under the risk control of the Company and will not affect the Company’s operating results and|
|on the Company’s operating||
||financial situation|
|results and financial||
|situation||

5. Other significant related-party transactions
□ Applicable√ Inapplicable
No other significant related-party transactions occurred to the Company during the reporting period.
VIII. Particulars about the non-operating occupation of funds by the controlling shareholder and other related parties of the Company
□ Applicable√ Inapplicable
The Company was not involved in the non-operating occupation of funds by the controlling shareholder and other related parties during the reporting period.
IX. Particulars about significant contracts and their fulfillment
1. Particulars about trusteeship, contract and lease
(1) Trusteeship
□ Applicable√ Inapplicable
There was no any trusteeship of the Company in the reporting period.
(2) Contract
□ Applicable√ Inapplicable
There was no any contract of the Company in the reporting period.
(3) Lease
□ Applicable√ Inapplicable
There was no any lease of the Company in the reporting period.
2015 Semi-annual Report of Shenzhen Properties& Resources Development (Group) Ltd. 2. Guarantees provided by the Company
√ Applicable□ Inapplicable
Unit: RMB Ten Thousand Yuan
||||||||||
|-|-|-|-|-|-|-|-|-|
|Guarantees provided by the Company for external parties (excluding those for subsidiaries)|||||||||
||Disclosure|||||||Guarante|
||||Actual||||||
||date of|||Actual||||e for a|
|||Amount for|occurrence date||Type of|Period of|Executed||
|Guaranteed party|relevant|||guarantee||||related|
|||guarantee|(date of||guarantee|guarantee|or not||
||announcem|||amount||||party or|
||||agreement)||||||
||ent|||||||not|
|Total external guarantee line||||Total actual occurred amount|||||
|approved during the reporting||0||of external guarantee during||0|||
|period (A1)||||the reporting period (A2)|||||
|Total external guarantee line||||Total actual external guarantee|||||
|that has been approved at the||0||balance at the end of the||0|||
|end of the reporting period (A3)||||reporting period (A4)|||||
|Guarantees provided by the Company for its subsidiaries|||||||||
||Disclosure|||||||Guarante|
||||Actual||||||
||date of|||Actual||||e for a|
|||Amount for|occurrence date||Type of|Period of|Executed||
|Guaranteed party|relevant|||guarantee||||related|
|||guarantee|(date of||guarantee|guarantee|or not||
||announcem|||amount||||party or|
||||agreement)）||||||
||ent|||||||not|
|Dongguan|||||||||
|Guomao|||||||||
|Changsheng Real|||||||||
||1 Apr. 2015|1,000|16 Apr. 2015|1,000|Pledge|1 year|No|Yes|
|Estate|||||||||
|Development Co.,|||||||||
|Ltd.|||||||||
|Shenzhen Guomao|||||||||
||||||Joint-liability||||
|Vehicle Industry|1 Apr. 2015|5,000|17 Apr. 2015|5,000||1 year|No|Yes|
||||||guarantee||||
|Co., Ltd.|||||||||
|Shenzhen Guomao|||||Joint-liability||||
||21 Apr.||||||||
|Vehicle Industry||44,000|11 Jan. 2013|16,924|guarantee;|3 years|No|Yes|
||2012||||||||
|Co., Ltd.|||||pledge||||
|Dongguan|||||||||
|Guomao|||||||||
|Changsheng Real|24 Apr.||||Joint-liability||||
|||45,000|20 Jun. 2014|7,467||3 years|No|Yes|
|Estate|2013||||guarantee||||
|Development Co.,|||||||||
|Ltd.|||||||||
|Total guarantee line approved||15,000||Total actual occurred amount||12,630|||

2015 Semi-annual Report of Shenzhen Properties& Resources Development (Group) Ltd.
||||||||||
|-|-|-|-|-|-|-|-|-|
|for the subsidiaries during the||||of guarantee for the|||||
|reporting period (B1)||||subsidiaries during the|||||
|||||reporting period (B2)|||||
|Total guarantee line that has|||||||||
|||||Total actual guarantee balance|||||
|been approved for the|||||||||
|||209,000||for the subsidiaries at the end||30,391|||
|subsidiaries at the end of the|||||||||
|||||of the reporting period (B4)|||||
|reporting period (B3)|||||||||
|Guarantees provided by the Company for its subsidiaries|||||||||
||Disclosure|||||||Guarante|
||||Actual||||||
||date of|||Actual||||e for a|
|||Amount for|occurrence date||Type of|Period of|Executed||
|Guaranteed party|relevant|||guarantee||||related|
|||guarantee|(date of||guarantee|guarantee|or not||
||announcem|||amount||||party or|
||||agreement)）||||||
||ent|||||||not|
|Shenzhen Guomao|||||Joint-liability||||
||23 Apr.||||||||
|Car Rental Co.,||4,000|25 Jul. 2014|2,000|guarantee;|1 year|No|Yes|
||2014||||||||
|Ltd.|||||pledge||||
|Shenzhen Guomao|||||||||
|Vehicle Industry|1 Apr. 2015|5,000|17 Apr. 2015|5,000|Pledge|1 year|No|Yes|
|Co., Ltd.|||||||||
|||||The total amount of actual|||||
|The total amount of guarantee|||||||||
|||||occurrence of guarantee for|||||
|limits for subsidiaries approved||0||||0|||
|||||subsidiaries in the reporting|||||
|in the reporting period (C1)|||||||||
|||||period (C2)|||||
|||||The total balance of actual|||||
|The total amount of guarantee|||||||||
|||||guarantee for subsidiaries up|||||
|for subsidiaries approved up to||0||||2,000|||
|||||to the end of reporting period|||||
|the end of reporting period (C3)|||||||||
|||||(C4)|||||
|The total amount of guarantee by the Company (the total amount of the first three items)|||||||||
|The total amount of guarantee||||The total amount of actual|||||
|limits approved in the reporting||15,000||occurrence of guarantee in the||12,630|||
|period (A1+B1+C1)||||reporting period (A2+B2+C2)|||||
|The total amount of guarantee||||The total balance of actual|||||
|approved up to the end of||209,000||guarantee up to the end of||32,391|||
|reporting period (A3+B3+C3)||||reporting period (A4+B4+C4)|||||
|Proportion of total amount of actual guarantee (A4+B4+C4) in|||||||||
|||||16.43%|||||
|the net assets of the Company|||||||||
|Among which:|||||||||
|Amount of guarantees provided for shareholders, actual|||||||||
|||||0|||||
|controller and other related parties (D)|||||||||
|Amount of debt guarantees provided directly or indirectly for||||16,924|||||

2015 Semi-annual Report of Shenzhen Properties& Resources Development (Group) Ltd.
|||
|-|-|
|parties with asset-liability ratio exceeding 70% (E)||
|Proportion of total guarantee amount exceeding 50% of the||
||0|
|Company’s net assets (F)||
|Total amount of the above three guarantees (D+E+F)|24,924|
||The Company provided a total guarantee amount of RMB 323.91|
||million to external parties, including a guarantee amount of RMB|
||229.24million provided by the Company for its subsidiaries and a|
||guarantee amount of RMB 94.67million provided by subsidiaries to|
|Explanation on possibility of taking several and joint liability||
||subsidiaries or the Company. Neither the Company nor its|
|involving immature guarantees (if any)||
||subsidiaries provided guarantees for any company not in the|
||consolidation scope. Up to the end of the reporting period,|
||subsidiaries were in normal operation and the loans were also in a|
||normal status, with the risk being controllable.|
|Explanation on external guarantees provided by violating||
||Naught|
|regulated procedures (if any)||

Particulars about guarantees provided in a compound way
(1) Illegal provision of guarantees for external parties
□ Applicable√ Inapplicable
No such cases in the reporting period.
3. Other significant contracts
□ Applicable√ Inapplicable
No such cases in the reporting period.
4. Other significant transactions
□ Applicable√ Inapplicable
No such cases in the reporting period.
X. Commitments made by the Company or any shareholder 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.
XI. Engagement and disengagement of the CPAs firm
Has the semi-annual financial report been audited?
2015 Semi-annual Report of Shenzhen Properties& Resources Development (Group) Ltd.□ Yes√ No
The semi-annual financial report had not been audited.
XII. Punishments and rectifications
□ Applicable√ Inapplicable
No punishments or rectifications in the reporting period.
XIII. Delisting risk due to violation of any law or regulation
□ Applicable√ Inapplicable
No such risk in the reporting period.
XIV. Other significant events
□ Applicable√ Inapplicable
No other significant event in the reporting period that needs to be explained.
2015 Semi-annual Report of Shenzhen Properties& Resources Development (Group) Ltd. Section VI. Change in Shares& Shareholders
I. Change in shares
Unit: Share
||||||||||
|-|-|-|-|-|-|-|-|-|
|Before the change||Increase/decrease (+, -)|||||After the change||
|||Issuance||Capitalizat|||||
|||||ion of|||||
||||Bonus|||||Proportio|
|Amount|Proportion|of new||public|Others|Subtotal|Amount||
||||shares|||||n|
|||shares||reserve|||||
|||||fund|||||

Reasons for changes in shares
□ Applicable√ Inapplicable
Approval of share changes
□ Applicable√ Inapplicable
Transfer of share ownership
□ Applicable√ Inapplicable
Effects of changes in shares on the basic EPS, diluted EPS, net assets per share attributable to common shareholders of the Company and other financial indexes over the last year and the last reporting period
□ Applicable√ Inapplicable
Other contents that the Company considers necessary or is required by the securities regulatory authorities to disclose
□ Applicable√ Inapplicable
Change of the total shares, shareholder structure, asset structure and liability structure
□ Applicable√ Inapplicable
II. Total number of shareholders and their shareholdings
Unit: Share
||||||||||||
|-|-|-|-|-|-|-|-|-|-|-|
|||||||Total number of preferred share|||||
|Total number of common||||||holders who had resumed their|||||
|shareholders at the end of the||35,206||||voting right at the end of the|||0||
|reporting period||||||reporting period (if any) (see|||||
|||||||note 8)|||||
|Shareholdings of common shareholders holding more than 5% shares or top 10 common shareholders|||||||||||
||||Shareholdin|Number|Increase/de||Number||Pledged or frozen shares||
|||||||||Number of|||
|Name of|Nature of||gpercentage(%)|of|crease of||of|non-restrict|||
|||||common|shares||restricted||Status of||
|shareholder|shareholder|||||||ed common||Number of shares|
|||||shares|during the||common||shares||
|||||||||shares held|||
|||||held at the|reporting||shares||||

2015 Semi-annual Report of Shenzhen Properties& Resources Development (Group) Ltd.
||||||||
|-|-|-|-|-|-|-|
||||end of the|period|held||
||||reporting||||
||||period||||
|SHENZHENCONSTRUCTIONINVESTMENTHOLDINGSCORPORATION|State-ownedcorporation|54.33%|323,796,324||293,997,370|29,798,954|
|SHENZHENINVESTMENTMANAGEMENTCORPORATION|State-ownedcorporation|9.49%|56,582,573||56,582,573||
|CITICSECURITIESCO., LTD.|State-ownedcorporation|0.54%|3,194,200||||
|CHINAFOREIGNECONOMYAND TRADETRUST CO.,LTD.-NEWSTOCK+ARBITRAGE|State-ownedcorporation|0.35%|2,060,063||||
|SHENZHENDUTY-FREECOMMODITYENTERPRISESCO., LTD.|State-ownedcorporation|0.29%|1,730,300||1,730,300||
|ZHANGHONGFENG|Domesticindividual|0.22%|1,322,900||||
|CHINARESOURCESSZITIC TRUSTCO.,LTD.-RUNJINNO. 168ASSEMBLEDFUNDS|Domesticnon-state-ownedcorporation|0.21%|1,230,400||||

2015 Semi-annual Report of Shenzhen Properties& Resources Development (Group) Ltd.
|||||||
|-|-|-|-|-|-|
|TRUSTSCHEME||||||
|CHEN LIYING|Domesticindividual|0.18%|1,076,051|||
|DBSVICKERS(HONGKONG)LTDA/C CLIENTS|Foreign individual|0.17%|1,000,000|||
|ZHONGLIANENTERPRISECO., LTD.|Domesticnon-state-ownedcorporation|0.16%|980,000|||
|Explanation on associated||The first and second principal shareholders of the Company are managed by Shenzhen||||
|relationship or/and persons acting in||Investment Holding Corporation, the actual controlling shareholder of the Company. Other||||
|concert among the above-mentioned||than that, it is unknown whether the remaining 9 shareholders are related parties or||||
|shareholders:||acting-in-concert parties.||||
|Shareholdings of the top ten common shareholders holding non-restricted shares||||||
|||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||
|CITIC SECURITIES CO., LTD.||3,194,200||RMB ordinary||
||||||3,194,200|
|||||share||
|CHINA FOREIGN ECONOMYAND TRADE TRUST CO.,LTD.-NEW STOCK+ARBITRAGE||2,060,063||||
|||||RMB ordinary||
||||||2,060,063|
|||||share||
|ZHANG HONGFENG||1,322,900||RMB ordinary||
||||||1,322,900|
|||||share||
|CHINA RESOURCES SZITICTRUST CO., LTD.-RUNJIN NO.168 ASSEMBLED FUNDS TRUSTSCHEME||1,230,400||||
|||||RMB ordinary||
||||||1,230,400|
|||||share||
|CHEN LIYING||1,076,051||Domestically||
|||||listed foreign|1,076,051|
|||||share||
|DBS VICKERS (HONG KONG)LTD A/C CLIENTS||1,000,000||Domestically||
|||||listed foreign|1,000,000|
|||||share||
|ZHONGLIAN ENTERPRISE CO.,||980,000||RMB ordinary|980,000|

2015 Semi-annual Report of Shenzhen Properties& Resources Development (Group) Ltd.
|||||
|-|-|-|-|
|LTD.||share||
|SHENZHEN SENRUIINVESTEMNT MANAGEMENTCO., LTD. – SENRUI DULIJINGQI NO. 3 SECURITIESINVESTMENT FUNDS|800,000|||
|||RMB ordinary||
||||800,000|
|||share||
|BEIJING FENGDANINVESTMENT CO., LTD.|720,000|RMB ordinary||
||||720,000|
|||share||
|Explanation on associated||||
|relationship or/and persons acting in||||
|concert among the top ten|The first and second principal shareholders of the Company are managed by Shenzhen|||
|non-restricted common shareholders|Investment Holding Corporation, the actual controlling shareholder of the Company. Other|||
|and between the top ten|than that, it is unknown whether the remaining 9 shareholders are related parties or|||
|non-restricted common shareholders|acting-in-concert parties.|||
|and the top ten common||||
|shareholders||||

Did any of the top 10 common shareholders or the top 10 non-restricted common shareholders of the Company conduct any promissory repo during the reporting period?
□ Yea√ No
No such cases in the reporting period.
III. Change of the controlling shareholder or the actual controller
Change of the controlling shareholder in the reporting period
□ Applicable√ Inapplicable
The controlling shareholder of the Company did not change in the reporting period.
Change of the actual controller in the reporting period
□ Applicable√ Inapplicable
The actual controller of the Company did not change in the reporting period.
IV. Any shareholding increase plan proposed or implemented by any shareholder or its act-in-concert party during the reporting period
□ Applicable√ Inapplicable
To the best knowledge of the Company, no shareholder or its act-in-concert party proposed or implemented any shareholding increase plan during the reporting period.
2015 Semi-annual Report of Shenzhen Properties& Resources Development (Group) Ltd. Section VII. Preference Shares
□ Applicable√ Inapplicable
No preference shares in the reporting period.
2015 Semi-annual Report of Shenzhen Properties& Resources Development (Group) Ltd. Section VIII. Directors, Supervisors& Senior Management Staff I. Change of shareholdings of directors, supervisors and senior management staff
□ Applicable√ Inapplicable
There was no change in the shareholdings of directors, supervisors and senior management staff in the reporting period. For details, please refer to the 2014 Annual Report.
II. Change of directors, supervisors and senior management staff
□ Applicable√ Inapplicable
There was no change of the directors, supervisors and senior management staff. For details, please refer to the 2014 Annual Report.
2015 Semi-annual Report of Shenzhen Properties& Resources Development (Group) Ltd. Section IX. Financial Report
I. Audit report
Has this semi-annual report been audited?
□ Yes√ No
The semi-annual financial report has not been audited.
II. Financial statements
Currency unit for the statements in the notes to these financial statements: RMB Yuan
1. Consolidated balance sheet
Prepared by Shenzhen Properties& Resources Development (Group) Ltd.
30 June 2015
Unit: RMB Yuan
||||
|-|-|-|
|Item|Closing balance|Opening balance|
|Current assets:|||
|Monetary funds|482,997,421.84|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|40,331,332.76|26,585,132.12|
|Accounts paid in advance|33,968,177.26|25,989,832.24|
|Premiums receivable|||
|Reinsurance premiums receivable|||
|Receivable reinsurance contract|||
|reserves|||
|Interest receivable|||
|Dividend receivable|||
|Other accounts receivable|8,474,056.83|6,638,425.25|
|Financial assets purchased under|||

2015 Semi-annual Report of Shenzhen Properties& Resources Development (Group) Ltd.
||||
|-|-|-|
|agreements to resell|||
|Inventories|2,493,227,840.13|2,323,472,671.20|
|Assets held for sale|||
|Non-current assets due within 1 year|||
|Other current assets|||
|Total current assets|3,058,998,828.82|3,191,649,437.49|
|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|33,555,348.58|32,888,939.41|
|Investing real estate|247,718,707.95|250,014,034.94|
|Fixed assets|71,103,117.82|64,069,233.96|
|Construction in progress|||
|Engineering materials|||
|Disposal of fixed assets|||
|Production biological assets|||
|Oil-gas assets|||
|Intangible assets|96,216,335.51|99,792,587.03|
|R&D expense|||
|Goodwill|||
|Long-term deferred expenses|2,288,887.55|2,553,053.03|
|Deferred income tax assets|224,912,402.30|216,552,790.60|
|Other non-current assets|7,275,069.00|7,275,069.00|
|Total of non-current assets|697,569,868.71|691,638,707.97|
|Total assets|3,756,568,697.53|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|||

2015 Semi-annual Report of Shenzhen Properties& Resources Development (Group) Ltd.
||||
|-|-|-|
|value of which changes are recorded in|||
|current profits and losses|||
|Derivative financial liabilities|||
|Notes payable|||
|Accounts payable|140,537,143.91|175,347,021.19|
|Accounts received in advance|121,945,329.53|28,756,337.08|
|Financial assets sold and repurchased|||
|Handling charges and commissions|||
|payable|||
|Payroll payable|43,049,064.32|57,777,210.65|
|Tax payable|892,499,824.67|1,015,363,636.69|
|Interest payable|572,570.12|562,879.72|
|Dividend payable|||
|Other accounts payable|126,670,935.97|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|1,574,518,220.52|1,493,839,909.88|
|Non-current liabilities:|||
|Long-term borrowings|74,673,000.00|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|20,419,239.87|21,765,846.69|

2015 Semi-annual Report of Shenzhen Properties& Resources Development (Group) Ltd.
||||
|-|-|-|
|Deferred income tax liabilities|29,156.31|257,625.00|
|Other non-current liabilities|114,727,801.36|114,706,662.76|
|Total non-current liabilities|209,849,197.54|314,343,486.45|
|Total liabilities|1,784,367,418.06|1,808,183,396.33|
|Owners’ equity:|||
|Share capital|595,979,092.00|595,979,092.00|
|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|-6,957,042.69|-4,006,141.53|
|Specific reserves|||
|Surplus reserves|136,591,232.84|136,591,232.84|
|Provisions for general risks|||
|Retained profits|1,125,774,376.33|1,225,726,944.83|
|Total equity attributable to owners of|||
||1,971,339,192.41|2,074,242,662.07|
|the Company|||
|Minority interests|862,087.06|862,087.06|
|Total owners’ equity|1,972,201,279.47|2,075,104,749.13|
|Total liabilities and owners’ equity|3,756,568,697.53|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|133,112,789.35|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|||

2015 Semi-annual Report of Shenzhen Properties& Resources Development (Group) Ltd.
||||
|-|-|-|
|Accounts receivable|1,697,688.47|1,029,211.52|
|Accounts paid in advance|||
|Interest receivable|||
|Dividend receivable|||
|Other accounts receivable|1,812,002,045.51|1,758,238,266.73|
|Inventories|446,171,517.97|385,762,064.03|
|Assets held for sale|||
|Non-current assets due within 1 year|||
|Other current assets|||
|Total current assets|2,392,984,041.30|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|280,112,609.56|279,446,200.39|
|Investing real estate|162,905,795.42|162,666,161.07|
|Fixed assets|10,461,635.34|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|1,383,809.55|1,470,297.69|
|Deferred income tax assets|||
|Other non-current assets|||
|Total of non-current assets|455,094,349.87|459,507,190.23|
|Total assets|2,848,078,391.17|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|||

2015 Semi-annual Report of Shenzhen Properties& Resources Development (Group) Ltd.
||||
|-|-|-|
|Derivative financial liabilities|||
|Notes payable|||
|Accounts payable|27,410,489.41|27,475,005.86|
|Accounts received in advance|93,778.50|556,723.50|
|Payroll payable|9,012,913.60|9,765,464.25|
|Tax payable|5,079,502.18|44,829,812.84|
|Interest payable|670,734.38|621,676.25|
|Dividend payable|||
|Other accounts payable|1,379,904,079.20|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|1,682,171,497.27|1,446,034,093.43|
|Non-current liabilities:|||
|Long-term borrowings|74,673,000.00|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|74,673,000.00|276,627,625.00|
|Total liabilities|1,756,844,497.27|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|

2015 Semi-annual Report of Shenzhen Properties& Resources Development (Group) Ltd.
||||
|-|-|-|
|Less: Treasury stock|||
|Other comprehensive income||2,933,175.45|
|Specific reserves|||
|Surplus reserves|135,934,422.40|135,934,422.40|
|Retained profits|265,262,519.82|391,006,574.07|
|Total owners’ equity|1,091,233,893.90|1,219,911,123.60|
|Total liabilities and owners’ equity|2,848,078,391.17|2,942,572,842.03|

 3. Consolidated income statement
Unit: RMB Yuan
||||
|-|-|-|
|Item|Reporting period|Same period of last year|
|I. Operating revenues|338,761,310.39|501,367,559.78|
|Including: Sales income|338,761,310.39|501,367,559.78|
|Interest income|||
|Premium income|||
|Handling charge and commission|||
|income|||
|II. Operating costs|302,467,177.17|363,599,623.62|
|Including: Cost of sales|199,054,160.59|230,835,231.01|
|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|46,781,146.09|82,288,326.22|
|Selling and distribution expenses|12,658,266.69|5,167,082.37|
|Administrative expenses|48,330,181.70|50,185,597.53|
|Financial expenses|-4,714,375.50|-6,325,233.01|
|Asset impairment loss|357,797.60|1,448,619.50|
|Add: Gain/(loss) from change in fair|||
|value (“-” means loss)|||

2015 Semi-annual Report of Shenzhen Properties& Resources Development (Group) Ltd.
||||
|-|-|-|
|Gain/(loss) from investment (“-”|||
||6,767,542.26|6,261,748.54|
|means loss)|||
|Including: share of profits in|||
||666,409.17|-1,283,506.52|
|associates and joint ventures|||
|Foreign exchange gains (“-” means|||
|loss)|||
|III. Business profit (“-” means loss)|43,061,675.48|144,029,684.70|
|Add: non-operating income|561,079.38|4,163,164.65|
|Including: Gains on disposal of|||
|||1,892,678.92|
|non-current assets|||
|Less: non-operating expense|1,097,878.15|380,296.86|
|Including: Losses on disposal of|||
||426,921.60|54,757.13|
|non-current assets|||
|IV. Total profit (“-” means loss)|42,524,876.71|147,812,552.49|
|Less: Income tax expense|11,362,044.97|35,738,015.00|
|V. Net profit (“-” means loss)|31,162,831.74|112,074,537.49|
|Net profit attributable to owners of|||
||31,162,831.74|112,074,537.49|
|the Company|||
|Minority shareholders’ income|||
|VI. After-tax net amount of other|||
||-2,950,901.16|447,993.19|
|comprehensive incomes|||
|After-tax net amount of other|||
|comprehensive incomes attributable to|-2,950,901.16|447,993.19|
|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|||
|that will be reclassified into gains and|-2,950,901.16|447,993.19|
|losses|||
|1. Enjoyable shares in other|||
|comprehensive incomes in investees that|||

2015 Semi-annual Report of Shenzhen Properties& Resources Development (Group) Ltd.
||||
|-|-|-|
|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|||
||-17,725.71|447,993.19|
|statement translation difference|||
|6. Other|||
|After-tax net amount of other|||
|comprehensive incomes attributable to|||
|minority shareholders|||
|VII. Total comprehensive incomes|28,211,930.58|112,522,530.68|
|Attributable to owners of the|||
||28,211,930.58|112,522,530.68|
|Company|||
|Attributable to minority|||
|shareholders|||
|VIII. Earnings per share|||
|(I) Basic earnings per share|0.0523|0.1881|
|(II) Diluted earnings per share|0.0523|0.1881|

 Where business mergers under the same control occurred in this reporting period, the net profit achieved by the merged parties before the business mergers was RMB 0.00, with the corresponding amount for the last period 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
Unit: RMB Yuan
||||
|-|-|-|
|Item|Reporting period|Same period of last year|
|I. Total sales|29,852,953.97|32,117,214.00|
|Less: cost of sales|8,215,152.66|13,005,498.88|
|Business taxes and surcharges|4,150,101.48|3,371,843.66|

2015 Semi-annual Report of Shenzhen Properties& Resources Development (Group) Ltd.
||||
|-|-|-|
|Distribution expenses|||
|Administrative expenses|19,815,940.03|18,969,355.25|
|Financial costs|-2,306,571.44|-2,780,553.56|
|Impairment loss|-616,823.91|-272,589.07|
|Add: gain/(loss) from change in fair|||
|value (“-” means loss)|||
|Gain/(loss) from investment (“-”|||
||6,600,847.72|2,094,893.48|
|means loss)|||
|Including: income form investment|||
||666,409.17|-1,283,506.52|
|on associates and joint ventures|||
|II. Business profit (“-” means loss)|7,196,002.87|1,918,552.32|
|Add: non-operating income|15,814.45|1,746,513.69|
|Including: Gains on disposal of|||
|||431,742.33|
|non-current assets|||
|Less: non-operating expense|466,563.12||
|Including: Losses on disposal of|||
||82,007.63||
|non-current assets|||
|III. Total profit (“-” means loss)|6,745,254.20|3,665,066.01|
|Less: Income tax expense|1,373,908.21||
|IV. Net profit (“-” means loss)|5,371,345.99|3,665,066.01|
|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|||

2015 Semi-annual Report 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|2,438,170.54|3,665,066.01|
|VII. Earnings per share|||
|(I) Basic earnings per share|0.0090|0.0061|
|(II) Diluted earnings per share|0.0090|0.0061|

 5. Consolidated cash flow statement
Unit: RMB Yuan
||||
|-|-|-|
|Item|Reporting period|Same period of last year|
|I. Cash flows from operating activities:|||
|Cash received from sale of|||
||460,272,796.97|486,571,481.51|
|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|||

2015 Semi-annual Report 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|||
||8,644,723.51|8,771,553.27|
|operating activities|||
|Subtotal of cash inflows from operating|||
||468,917,520.48|495,343,034.78|
|activities|||
|Cash paid for goods and services|279,997,430.62|290,827,700.91|
|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|160,964,525.60|140,770,571.32|
|Various taxes paid|205,830,929.07|208,267,051.06|
|Other cash payment relating to|||
||44,033,816.12|45,365,201.86|
|operating activities|||
|Subtotal of cash outflows from|||
||690,826,701.41|685,230,525.15|
|operating activities|||
|Net cash flows from operating activities|-221,909,180.93|-189,887,490.37|
|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|||
||605,705.00|1,273,115.00|
|fixed assets, intangible assets and other|||

2015 Semi-annual Report of Shenzhen Properties& Resources Development (Group) Ltd.
||||
|-|-|-|
|long-term assets|||
|Net cash received from disposal of|||
|subsidiaries or other business units|||
|Other cash received relating to|||
|investing activities|||
|Subtotal of cash inflows from investing|||
||7,697,377.64|1,273,115.00|
|activities|||
|Cash paid to acquire fixed assets,|||
|intangible assets and other long-term|15,367,108.10|3,725,850.80|
|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|||
||15,367,108.10|3,725,850.80|
|investing activities|||
|Net cash flows from investing activities|-7,669,730.46|-2,452,735.80|
|III. Cash Flows from Financing|||
|Activities:|||
|Cash received from capital|||
|contributions|||
|Including: Cash received from|||
|minority shareholder investments by|||
|subsidiaries|||
|Cash received from borrowings|126,303,000.00|251,370,000.00|
|Cash received from issuance of|||
|bonds|||
|Other cash received relating to|||
|financing activities|||
|Subtotal of cash inflows from financing|||
||126,303,000.00|251,370,000.00|
|activities|||
|Repayment of borrowings|85,000,000.00|308,916,666.64|
|Cash paid for interest expenses and|||
||137,350,160.47|159,779,630.63|
|distribution of dividends or profit|||
|Including: dividends or profit paid|||
|by subsidiaries to minority shareholders|||

2015 Semi-annual Report of Shenzhen Properties& Resources Development (Group) Ltd.
||||
|-|-|-|
|Other cash payments relating to|||
||104,500.00|288,000.00|
|financing activities|||
|Sub-total of cash outflows from|||
||222,454,660.47|468,984,297.27|
|financing activities|||
|Net cash flows from financing activities|-96,151,660.47|-217,614,297.27|
|IV. Effect of foreign exchange rate|||
||-235,382.98|53,593.94|
|changes on cash and cash equivalents|||
|V. Net increase in cash and cash|||
||-325,965,954.84|-409,900,929.50|
|equivalents|||
|Add: Opening balance of cash and|||
||808,963,376.68|977,171,814.20|
|cash equivalents|||
|VI. Closing balance of cash and cash|||
||482,997,421.84|567,270,884.70|
|equivalents|||

6. Cash flow statement of the Company
Unit: RMB Yuan
||||
|-|-|-|
|Item|Reporting period|Same period of last year|
|I. Cash flows from operating activities:|||
|Cash received from sale of|||
||28,663,455.97|27,194,186.50|
|commodities and rendering of service|||
|Tax refunds received|||
|Other cash received relating to|||
||224,852,837.51|327,703,905.77|
|operating activities|||
|Subtotal of cash inflows from operating|||
||253,516,293.48|354,898,092.27|
|activities|||
|Cash paid for goods and services|54,228,447.00|40,238,144.48|
|Cash paid to and for employees|10,672,508.89|11,337,003.08|
|Various taxes paid|49,447,323.75|3,867,339.21|
|Other cash payment relating to|||
||269,534,102.88|790,100,547.89|
|operating activities|||
|Subtotal of cash outflows from|||
||383,882,382.52|845,543,034.66|
|operating activities|||
|Net cash flows from operating activities|-130,366,089.04|-490,644,942.39|
|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|

2015 Semi-annual Report of Shenzhen Properties& Resources Development (Group) Ltd.
||||
|-|-|-|
|investments|||
|Net cash received from disposal of|||
|fixed assets, intangible assets and other|260.00||
|long-term assets|||
|Net cash received from disposal of|||
|subsidiaries or other business units|||
|Other cash received relating to|||
|investing activities|||
|Subtotal of cash inflows from investing|||
||7,091,932.64|284,009,800.00|
|activities|||
|Cash paid to acquire fixed assets,|||
|intangible assets and other long-term|31,074.00|648,059.00|
|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|||
||31,074.00|648,059.00|
|investing activities|||
|Net cash flows from investing activities|7,060,858.64|283,361,741.00|
|III. Cash Flows from Financing|||
|Activities:|||
|Cash received from capital|||
|contributions|||
|Cash received from borrowings|58,303,000.00|271,370,000.00|
|Cash received from issuance of|||
|bonds|||
|Other cash received relating to|||
|financing activities|||
|Subtotal of cash inflows from financing|||
||58,303,000.00|271,370,000.00|
|activities|||
|Repayment of borrowings||240,000,000.00|
|Cash paid for interest expenses and|||
||139,703,417.96|156,942,914.41|
|distribution of dividends or profit|||
|Other cash payments relating to|||
|||208,000.00|
|financing activities|||
|Sub-total of cash outflows from|139,703,417.96|397,150,914.41|

2015 Semi-annual Report of Shenzhen Properties& Resources Development (Group) Ltd.
||||
|-|-|-|
|financing activities|||
|Net cash flows from financing activities|-81,400,417.96|-125,780,914.41|
|IV. Effect of foreign exchange ratechanges on cash and cash equivalents|||
||-217,671.81|-393,186.04|
|V. Net increase in cash and cashequivalents|||
||-204,923,320.17|-333,457,301.84|
|Add: Opening balance of cash andcash equivalents|||
||338,036,109.52|420,568,966.65|
|VI. Closing balance of cash and cashequivalents|||
||133,112,789.35|87,111,664.81|

7. Consolidated Statement of Changes inOwners’ Equity
Reporting period
Unit: RMB Yuan
|||||||||||||||
|-|-|-|-|-|-|-|-|-|-|-|-|-|-|
||Reporting period|||||||||||||
||Equity attributable to owners of the Company|||||||||||||
|||Other equity||||||||||||
||||||||Other|||||Minorit|Total|
|Item||||||||||||||
|||instruments||||Less:||||General||||
||Share||||Capital||compre|Specific|Surplus||Retaine|y|owners’|
|||Prefer|Perpet|||treasury||||risk||||
||capital||||reserve||hensive|reserve|reserve||d profit|interests|equity|
|||ence|ual|Other||stock||||reserve||||
||||||||incomes|||||||
|||shares|bonds|||||||||||
|I. Balance at the|595,97||||||||||1,225,7||2,075,1|
||||||119,951||-4,006,1||136,591|||862,087||
|end of the|9,092.||||||||||26,944.||04,749.|
||||||,533.93||41.53||,232.84|||.06||
|previous year|00||||||||||83||13|
|Add: change of||||||||||||||
|accounting policy||||||||||||||
|Correction of||||||||||||||
|errors in previous||||||||||||||
|periods||||||||||||||
|Business||||||||||||||
|mergers under the||||||||||||||
|same control||||||||||||||
|Other||||||||||||||
|II. Balance at the|595,97||||||||||1,225,7||2,075,1|
||||||119,951||-4,006,1||136,591|||862,087||
|beginning of the|9,092.||||||||||26,944.||04,749.|
||||||,533.93||41.53||,232.84|||.06||
|year|00||||||||||83||13|
|III. Increase/|||||||-2,950,9||||-99,952,||-102,90|
|decrease in the|||||||01.16||||568.50||3,469.6|

2015 Semi-annual Report of Shenzhen Properties& Resources Development (Group) Ltd.
|||||
|-|-|-|-|
|period (“-” means|||6|
|decrease)||||
|(I) Total||||
||-2,950,9|31,162,|28,211,|
|comprehensive||||
||01.16|831.74|930.58|
|incomes||||
|(II) Capital||||
|increased and||||
|reduced by owners||||
|1. Common||||
|shares increased||||
|by shareholders||||
|2. Capital||||
|increased by||||
|holders of other||||
|equity instruments||||
|3. Amounts||||
|of share-based||||
|payments||||
|recognized in||||
|owners’ equity||||
|4. Other||||
|||-131,11|-131,11|
|(III) Profit||||
|||5,400.2|5,400.2|
|distribution||||
|||4|4|
|1.||||
|Appropriations to||||
|surplus reserves||||
|2.||||
|Appropriations to||||
|general risk||||
|provisions||||
|3.||||
|||-131,11|-131,11|
|Appropriations to||||
|||5,400.2|5,400.2|
|owners (or||||
|||4|4|
|shareholders)||||
|4. Other||||
|(IV) Internal||||
|carry-forward of||||
|owners’ equity||||
|1. New||||

2015 Semi-annual Report of Shenzhen Properties& Resources Development (Group) Ltd.
|||||||||
|-|-|-|-|-|-|-|-|
|increase of capital||||||||
|(or share capital)||||||||
|from capital public||||||||
|reserves||||||||
|2. New||||||||
|increase of capital||||||||
|(or share capital)||||||||
|from surplus||||||||
|reserves||||||||
|3. Surplus||||||||
|reserves for||||||||
|making up losses||||||||
|4. Other||||||||
|(V) Specific||||||||
|reserve||||||||
|1. Withdrawn||||||||
|for the period||||||||
|2. Used in the||||||||
|period||||||||
|(VI) Other||||||||
||595,97||||1,125,7||1,972,201,279.47|
|IV. Closing||119,951|-6,957,0|136,591||862,087||
||9,092.||||74,376.|||
|balance||,533.93|42.69|,232.84||.06||
||00||||33|||

 Same period of last year
Unit: RMB Yuan
|||||||||||||||
|-|-|-|-|-|-|-|-|-|-|-|-|-|-|
||Same period of last year|||||||||||||
||Equity attributable to owners of the Company|||||||||||||
|||Other equity||||||||||Minorit||
||||||||Other||||||Total|
|Item||||||||||||||
|||instruments||||Less:||||General||y||
||Share||||Capital||compre|Specific|Surplus||Retaine||owners’|
|||Prefer|Perpet|||treasury||||risk||interest||
||capital||||reserve||hensive|reserve|reserve||d profit||equity|
|||ence|ual|Other||stock||||reserve||s||
||||||||incomes|||||||
|||shares|bonds|||||||||||
|I. Balance at the|595,97||||||||||||1,803,6|
||||||120,086||-7,098,7||121,542||972,271|862,087||
|end of the|9,092.||||||||||||43,379.|
||||||,646.43||16.51||,385.81||,884.95|.06||
|previous year|00||||||||||||74|
|Add: change of||||||||||||||
|accounting policy||||||||||||||
|Correction of||||||||||||||
|errors in previous||||||||||||||

2015 Semi-annual Report of Shenzhen Properties& Resources Development (Group) Ltd.
|||||||||
|-|-|-|-|-|-|-|-|
|periods||||||||
|Business||||||||
|mergers under the||||||||
|same control||||||||
|Other||||||||
|II. Balance at the|595,97||||||1,803,6|
|||120,086|-7,098,7|121,542|972,271|862,087||
|beginning of the|9,092.||||||43,379.|
|||,646.43|16.51|,385.81|,884.95|.06||
|year|00||||||74|
|III. Increase/||||||||
|decrease in the||-135,11|447,993||-36,920,||-36,607,|
|period (“-” means||2.50|.19||235.51||354.82|
|decrease)||||||||
|(I) Total||||||||
||||447,993||112,074||112,522|
|comprehensive||||||||
||||.19||,537.49||,530.68|
|incomes||||||||
|(II) Capital||||||||
|increased and||||||||
|reduced by owners||||||||
|1. Common||||||||
|shares increased||||||||
|by shareholders||||||||
|2. Capital||||||||
|increased by||||||||
|holders of other||||||||
|equity instruments||||||||
|3. Amounts||||||||
|of share-based||||||||
|payments||||||||
|recognized in||||||||
|owners’ equity||||||||
|4. Other||||||||
||||||-148,99||-148,99|
|(III) Profit||||||||
||||||4,773.0||4,773.0|
|distribution||||||||
||||||0||0|
|1.||||||||
|Appropriations to||||||||
|surplus reserves||||||||
|2.||||||||
|Appropriations to||||||||
|general risk||||||||

2015 Semi-annual Report of Shenzhen Properties& Resources Development (Group) Ltd.
|||||||||
|-|-|-|-|-|-|-|-|
|provisions||||||||
|3.||||||||
||||||-148,99||-148,99|
|Appropriations to||||||||
||||||4,773.0||4,773.0|
|owners (or||||||||
||||||0||0|
|shareholders)||||||||
|4. Other||||||||
|(IV) Internal||||||||
|carry-forward of||||||||
|owners’ equity||||||||
|1. New||||||||
|increase of capital||||||||
|(or share capital)||||||||
|from capital public||||||||
|reserves||||||||
|2. New||||||||
|increase of capital||||||||
|(or share capital)||||||||
|from surplus||||||||
|reserves||||||||
|3. Surplus||||||||
|reserves for||||||||
|making up losses||||||||
|4. Other||||||||
|(V) Specific||||||||
|reserve||||||||
|1. Withdrawn||||||||
|for the period||||||||
|2. Used in the||||||||
|period||||||||
|||-135,11|||||-135,11|
|(VI) Other||||||||
|||2.50|||||2.50|
||595,97||||||1,767,0|
|IV. Closing||119,951|-6,650,7|121,542|935,351|862,087||
||9,092.||||||36,024.|
|balance||,533.93|23.32|,385.81|,649.44|.06||
||00||||||92|

 8. Statement of changes inowners’ equity of the Company
Reporting period
Unit: RMB Yuan
|||
|-|-|
|Item|Reporting period|

2015 Semi-annual Report of Shenzhen Properties& Resources Development (Group) Ltd.
|||||||||||||
|-|-|-|-|-|-|-|-|-|-|-|-|
|||Other equity instruments|||||Other|||||
|||||||Less:|||||Total|
||Share|Prefere|||Capital||comprehe|Specific|Surplus|Retaine||
||||Perpetu|||treasury|||||owners’|
||capital|nce||Other|reserve||nsive|reserve|reserve|d profit||
||||al bonds|||stock|||||equity|
|||shares|||||incomes|||||
|I. Balance at the||||||||||||
||595,979,||||94,057,85||2,933,175||135,934,4|391,006|1,219,911|
|end of the previous||||||||||||
||092.00||||9.68||.45||22.40|,574.07|,123.60|
|year||||||||||||
|Add: change of||||||||||||
|accounting policy||||||||||||
|Correction of||||||||||||
|errors in previous||||||||||||
|periods||||||||||||
|Other||||||||||||
|II. Balance at the||||||||||||
||595,979,||||94,057,85||2,933,175||135,934,4|391,006|1,219,911|
|beginning of the||||||||||||
||092.00||||9.68||.45||22.40|,574.07|,123.60|
|year||||||||||||
|III. Increase/||||||||||||
|||||||||||-125,74||
|decrease in the|||||||-2,933,17||||-128,677,|
|||||||||||4,054.2||
|period (“-” means|||||||5.45||||229.70|
|||||||||||5||
|decrease)||||||||||||
|(I) Total||||||||||||
||||||||-2,933,17|||5,371,3|2,438,170|
|comprehensive||||||||||||
||||||||5.45|||45.99|.54|
|incomes||||||||||||
|(II) Capital||||||||||||
|increased and||||||||||||
|reduced by owners||||||||||||
|1. Common||||||||||||
|shares increased||||||||||||
|by shareholders||||||||||||
|2. Capital||||||||||||
|increased by||||||||||||
|holders of other||||||||||||
|equity instruments||||||||||||
|3. Amounts||||||||||||
|of share-based||||||||||||
|payments||||||||||||
|recognized in||||||||||||
|owners’ equity||||||||||||
|4. Other||||||||||||
|(III) Profit||||||||||-131,11|-131,115,|

2015 Semi-annual Report of Shenzhen Properties& Resources Development (Group) Ltd.
|||||||
|-|-|-|-|-|-|
|distribution||||5,400.2|400.24|
|||||4||
|1.||||||
|Appropriations to||||||
|surplus reserves||||||
|2.||||||
|||||-131,11||
|Appropriations to|||||-131,115,|
|||||5,400.2||
|owners (or|||||400.24|
|||||4||
|shareholders)||||||
|3. Other||||||
|(IV) Internal||||||
|carry-forward of||||||
|owners’ equity||||||
|1. New||||||
|increase of capital||||||
|(or share capital)||||||
|from capital public||||||
|reserves||||||
|2. New||||||
|increase of capital||||||
|(or share capital)||||||
|from surplus||||||
|reserves||||||
|3. Surplus||||||
|reserves for||||||
|making up losses||||||
|4. Other||||||
|(V) Specific||||||
|reserve||||||
|1. Withdrawn||||||
|for the period||||||
|2. Used in the||||||
|period||||||
|(VI) Other||||||
|IV. Closing|595,979,|94,057,85|135,934,4|265,262|1,091,233,893.90|
|balance|092.00|9.68|22.40|,519.82||

 Same period of last year
Unit: RMB Yuan
|||
|-|-|
|Item|Same period of last year|

2015 Semi-annual Report of Shenzhen Properties& Resources Development (Group) Ltd.
|||||||||||||
|-|-|-|-|-|-|-|-|-|-|-|-|
|||Other equity instruments|||||Other|||||
|||||||Less:|||||Total|
||Share|Prefere|||Capital||comprehe|Specific|Surplus|Retaine||
||||Perpetu|||treasury|||||owners’|
||capital|nce||Other|reserve||nsive|reserve|reserve|d profit||
||||al bonds|||stock|||||equity|
|||shares|||||incomes|||||
|I. Balance at the||||||||||||
||595,979,||||94,057,85||||120,885,5|404,561|1,215,484|
|end of the previous||||||||||||
||092.00||||9.68||||75.37|,723.77|,250.82|
|year||||||||||||
|Add: change of||||||||||||
|accounting policy||||||||||||
|Correction of||||||||||||
|errors in previous||||||||||||
|periods||||||||||||
|Other||||||||||||
|II. Balance at the||||||||||||
||595,979,||||94,057,85||||120,885,5|404,561|1,215,484|
|beginning of the||||||||||||
||092.00||||9.68||||75.37|,723.77|,250.82|
|year||||||||||||
|III. Increase/||||||||||||
|||||||||||-145,32||
|decrease in the|||||||||||-145,329,|
|||||||||||9,706.9||
|period (“-” means|||||||||||706.99|
|||||||||||9||
|decrease)||||||||||||
|(I) Total||||||||||||
|||||||||||3,665,0|3,665,066|
|comprehensive||||||||||||
|||||||||||66.01|.01|
|incomes||||||||||||
|(II) Capital||||||||||||
|increased and||||||||||||
|reduced by owners||||||||||||
|1. Common||||||||||||
|shares increased||||||||||||
|by shareholders||||||||||||
|2. Capital||||||||||||
|increased by||||||||||||
|holders of other||||||||||||
|equity instruments||||||||||||
|3. Amounts||||||||||||
|of share-based||||||||||||
|payments||||||||||||
|recognized in||||||||||||
|owners’ equity||||||||||||
|4. Other||||||||||||
|(III) Profit||||||||||-148,99|-148,994,|

2015 Semi-annual Report of Shenzhen Properties& Resources Development (Group) Ltd.
|||||||
|-|-|-|-|-|-|
|distribution||||4,773.0|773.00|
|||||0||
|1.||||||
|Appropriations to||||||
|surplus reserves||||||
|2.||||||
|||||-148,99||
|Appropriations to|||||-148,994,|
|||||4,773.0||
|owners (or|||||773.00|
|||||0||
|shareholders)||||||
|3. Other||||||
|(IV) Internal||||||
|carry-forward of||||||
|owners’ equity||||||
|1. New||||||
|increase of capital||||||
|(or share capital)||||||
|from capital public||||||
|reserves||||||
|2. New||||||
|increase of capital||||||
|(or share capital)||||||
|from surplus||||||
|reserves||||||
|3. Surplus||||||
|reserves for||||||
|making up losses||||||
|4. Other||||||
|(V) Specific||||||
|reserve||||||
|1. Withdrawn||||||
|for the period||||||
|2. Used in the||||||
|period||||||
|(VI) Other||||||
|IV. Closing|595,979,|94,057,85|120,885,5|259,232|1,070,154|
|balance|092.00|9.68|75.37|,016.78|,543.83|

2015 Semi-annual Report of Shenzhen Properties& Resources Development (Group) Ltd. Section X. Documents Available For Reference
I. Accounting statements with the signatures and seals of the Legal Representative, the Chief Financial Officer and the person in charge of the accounting work;
II. Texts of all theCompany’s documents ever disclosed on Securities Times and Hong Kong Ta Kung Pao in the reporting period, and the originals of the public notices.