Stock Code: 000011, 200011 Stock Name: PRD, PRD-B Announcement No. 2022-15SHENZHEN PROPERTIES & RESOURCES DEVELOPMENT (GROUP)
LTD.FIRST QUARTERLY REPORT 2022
Important Notes:
1. The Board of Directors, the Supervisory Committee as well as the directors, supervisors and senior management of the Companyhereby guarantee that the contents of this Report are true, accurate and complete and free of any misrepresentations, misleadingstatements or material omissions, and collectively and individually accept legal responsibility for such contents.
2. The Company’s legal representative, head of financial affairs, and head of the financial department (equivalent to financialmanager) hereby guarantee that the financial statements carried in this Report are true, accurate and complete.
3. Indicate whether the financial statements in this Report have been audited by an independent auditor.
□Yes √ No
I Key Financial Information
(I) Key Accounting Data and Financial Indicators
Indicate whether there is any retrospectively restated datum in the table below.
√ Yes □ No
Reason for any retrospectively adjustment or restatementBusiness combination under the same control
ShenZhen Properties & Resources Development (Group) Ltd. (hereinafter referred to asthe “Company”) and all the members of the Company’s Board of Directors herebyguarantee that the contents of this Report are true, accurate and complete and free of anymisrepresentations, misleading statements or material omissions.
Q1 2022 | Q1 2021 | Change (%) | ||
Before | After | After | ||
Operating revenue (RMB) | 1,255,811,600.03 | 891,026,732.66 | 966,073,576.97 | 29.99% |
Net profit attributable to the listed company’s shareholders (RMB) | 219,440,470.15 | 214,420,219.16 | 213,788,114.74 | 2.64% |
Net profit attributable to the listed company’s shareholders before exceptional gains and losses (RMB) | 226,479,051.98 | 208,303,080.57 | 208,228,266.38 | 8.76% |
Net cash generated from/used in operating activities (RMB) | -762,389,016.83 | 83,213,087.80 | 69,504,352.10 | -1,196.89% |
Basic earnings per share (RMB/share) | 0.3682 | 0.3598 | 0.3587 | 2.65% |
Diluted earnings per share (RMB/share) | 0.3682 | 0.3598 | 0.3587 | 2.65% |
Weighted average return on equity (%) | 5.61% | 5.59% | 5.58% | 0.03% |
31 March 2022 | 31 December 2021 | Change (%) | ||
Before | After | After | ||
Total assets (RMB) | 14,548,051,290.31 | 14,581,897,151.76 | 14,828,951,423.30 | -1.89% |
Equity attributable to the listed company’s shareholders (RMB) | 4,510,200,892.92 | 4,486,110,790.39 | 4,586,611,170.32 | -1.67% |
(II) Exceptional Gains and Losses
√ Applicable □ Not applicable
Unit: RMB
Item | Q1 2022 | Note |
Current gains and losses on subsidiaries acquired through business mergers under same control from period-beginning to merger dates, net | -6,933,601.34 | |
Non-operating income and expense other than the above | 8,749.10 | |
Less: Income tax effects | 2,187.28 | |
Non-controlling interests effects (net of tax) | 111,542.31 | |
Total | -7,038,581.83 | -- |
Other items that meet the definition of exceptional gain/loss:
□ Applicable √ Not applicable
No such cases in the Reporting Period.Explanation of why the Company reclassifies as recurrent an exceptional gain/loss item listed in the Explanatory Announcement No.1 on Information Disclosure for Companies Offering Their Securities to the Public—Exceptional Gain/Loss Items:
□ Applicable √ Not applicable
No such cases in the Reporting Period.(III) Changes in Key Financial Statement Line Items and Explanation of why
√ Applicable □ Not applicable
Unit: RMB
Balance sheet line items | 31 March 2022 | 31 December 2021 | Change (%) | Main reasons for the change |
Monetary assets | 1,369,448,651.08 | 2,337,045,771.27 | -41.40% | Payment for the land of the Yangzhou project and payments for the acquisition of equity investments in five property management companies |
Other non-current assets | 2,750,873.08 | 45,571,997.85 | -93.96% | Transfer of prepayments for acquisition of equity investments to long-term equity investments |
Contract liabilities | 630,161,183.26 | 1,372,977,208.62 | -54.10% | Transfer of advances from residential unit buyers to operating revenue |
Other payables
Other payables | 1,432,254,345.86 | 1,029,915,289.45 | 39.07% | Increased security deposits from project partners |
Other current liabilities | 51,759,712.19 | 77,355,792.16 | -33.09% | Decreased output tax-to-be |
Captial reserves | 80,488,045.38 | 146,986,167.70 | -45.24% | Offsetting of long-term equity investments and equity as a result of the inclusion in the consolidated financial statements in February of the five property management companies which were acquired under common control |
Surplus reserves | 29,637,548.47 | 47,574,940.18 | -37.70% | Offsetting of long-term equity investments and equity as a result of the inclusion in the consolidated financial statements in February of the five property management companies which were acquired under common control |
Income statemnet line items | Q1 2022 | Q1 2021 | Change (%) | Main reasons for the change |
Operating revenue | 1,255,811,600.03 | 966,073,576.97 | 29.99% | Carryforwards to revenue as a result of the moving-in in Xuzhou Project Phase II |
Cost of sales | 628,064,409.56 | 383,928,619.46 | 63.59% | Carryforwards to costs in Xuzhou Project Phase II and changes in the project portfolio |
Selling expense | 3,937,994.28 | 3,005,132.04 | 31.04% | FMC was not included in the consolidated financial statements in the same period of last year |
Return on investment | 849,549.56 | 2,677,947.14 | -68.28% | Decreased profits of associates |
Non-operating income | 193,104.68 | 8,699,283.46 | -97.78% | The same period of last year saw the arrival of demolition compensation |
Non-operating expense | 184,355.58 | 607,267.81 | -69.64% | Decreased termination compensation |
Cash flow statement line items | Q1 2022 | Q1 2021 | Change (%) | Main reasons for the change |
Net cash generatedfrom/used inoperating activities
Net cash generated from/used in operating activities | -762,389,016.83 | 69,504,352.10 | -1196.89% | Decreased property sales inflows and payment for the land of the Yangzhou project |
Net cash generated from/used in investing activities | -241,934,054.45 | -8,059,550.72 | 2901.83% | Payments for the acquisition of equity investments in five property management companies |
Net cash generated from/used in financing activities | 36,943,224.39 | -40,357,300.00 | -191.54% | New bank loan |
II Shareholder Information(I) Numbers of Ordinary Shareholders and Preference Shareholders with Resumed Voting Rights as wellas Holdings of Top 10 Shareholders
Unit: share
Number of ordinary shareholders at the period-end | 45,477 | Number of preferred shareholders with resumed voting rights at the period-end (if any) | 0 | |||||
Top 10 shareholders | ||||||||
Name of shareholder | Nature of shareholder | Shareholding percentage | Total shares held | Restricted shares held | Shares in pledge, marked or frozen | |||
Status | Shares | |||||||
Shenzhen Investment Holdings Corporation | State-owned corporation | 50.57% | 301,414,637 | 3,326 | ||||
Shenzhen State-Owned Equity Operation and Management Co., Ltd. | Domestic non-state-owned legal person | 6.38% | 38,037,890 | 0 | ||||
China Orient Asset Management Co., Ltd. | State-owned legal person | 3.90% | 23,236,400 | 0 | ||||
Hong Kong Securities Clearing Company Ltd. | Foreign legal person | 0.79% | 4,710,206 | 0 | ||||
Li Xinyi | Domestic natural person | 0.44% | 2,600,000 | 0 | ||||
Duan Shaoteng | Domestic natural person | 0.29% | 1,755,565 | 0 | ||||
Shenzhen Duty-Free Commodity Enterprises Co., Ltd. | Domestic non-state-owned legal person | 0.29% | 1,730,300 | 1,730,300 | ||||
Yang Yaochu | Domestic natural | 0.26% | 1,520,384 | 0 |
person | ||||||
Zhang Yongsheng | Domestic natural person | 0.25% | 1,500,000 | 0 | ||
China International Capital Corporation Hong Kong Asset Management Limited-Clients’ capital 2 | Foreign legal person | 0.20% | 1,218,334 | 0 | ||
Top 10 unrestricted shareholders | ||||||
Name of shareholder | Unrestricted shares held | Shares by class | ||||
Class | Shares | |||||
Shenzhen Investment Holdings Corporation | 301,411,311 | RMB-denominated ordinary stock | 301,411,311 | |||
Shenzhen State-Owned Equity Operation and Management Co., Ltd. | 38,037,890 | RMB-denominated ordinary stock | 38,037,890 | |||
China Orient Asset Management Co., Ltd. | 23,236,400 | RMB-denominated ordinary stock | 23,236,400 | |||
Hong Kong Securities Clearing Company Ltd. | 4,710,206 | RMB-denominated ordinary stock | 4,710,206 | |||
Li Xinyi | 2,600,000 | RMB-denominated ordinary stock | 2,600,000 | |||
Duan Shaoteng | 1,755,565 | RMB-denominated ordinary stock | 1,755,565 | |||
Yang Yaochu | 1,520,384 | Domestically listed foreign stock | 1,520,384 | |||
Zhang Yongsheng | 1,500,000 | RMB-denominated ordinary stock | 1,500,000 | |||
China International Capital Corporation Hong Kong Asset Management Limited-Clients’ capital 2 | 1,218,334 | RMB-denominated ordinary stock | 1,218,334 | |||
Wu Wenkai | 1,200,000 | RMB-denominated ordinary stock | 1,200,000 | |||
Related or acting-in-concert parties among the shareholders above | The first largest shareholder, Shenzhen Investment Holding Corporation, is the actual controlling shareholder of the Company and Shenzhen State-Owned Equity Operation and Management Co., Ltd. And the Company does not know whether there are related parties or acting-in-concert parties among the other 8 shareholders. | |||||
Top 10 ordinary shareholders involved in securities margin trading (if any) | N/A |
(II) Number of Preference Shareholders and Shareholdings of Top 10 of Them
□ Applicable √ Not applicable
III Other Significant Events
√ Applicable □ Not applicable
(I) Matters on winning the bid of the land use rightOn 18 February 2022, the Company and Yangzhou Lvfa Real Estate Co., Ltd. publicly won the use right of No. GZ342 state-ownedland in Pingshan, Yangzhou with RMB835,352,910 by way of joint auction in the online listing auction of state-owned constructionland use right in Yangzhou. For more details, please refer to the Announcement on Winning the Bid of the Land Use Right (No.:
2022-02) disclosed on Cninfo (www.cninfo.com.cn) by the Company on 19 February 2022.(II) Matters on engagement of senior management of the CompanyThe Company convened the 6
th
Meeting of the 10
thBoard of Directors on 21 February 2022, reviewing and approving the Proposalon Engagement of General Manager of the Company, Proposal on Engagement of Deputy General Managers and Head of Financial
Affairs and Proposal on Engagement of CFO of the Company. The Board agreed to engage Mr. Wang Hangjun as the GeneralManager of the Company, engage Mr. Chen Hongji, Ms. Cai Lili, Mr. Li Peng and Mr. Zhang Gejian as deputy general managers ofthe Company with Ms. Cai Lili holding a concurrent post of head of financial affairs, and engage Ms. Shen Xueying as CFO of theCompany. The tenure of above senior management is from the date when the proposals were reviewed and approved on the 6
th
Meeting of the 10
th Board of Directors to the expiration date of the 10
th
Board of Directors. For more details, please refer to theAnnouncement on Engagement of Senior Management of the Company (No.: 2022-04) disclosed on Cninfo (www.cninfo.com.cn) bythe Company on 22 February 2022.(III) Matters on progress of acquisition by the wholly-owned subsidiary of 100% equity in Shenzhen Property ManagementCo., Ltd., Shenzhen Foreign Trade Property Management Co., Ltd., and three enterprises owned by Shenzhen Shenfubao(Group) Co., Ltd. and related party transactionsDuring the Reporting Period, as for the matters on acquisition by Shenzhen International Trade Center Property Management Co.,Ltd., a wholly-owned subsidiary of the Company, of 100% equity in Shenzhen Property Management Co., Ltd., Shenzhen ShenfubaoProperty Development Co., Ltd., Shenzhen Shenfubao Hydropower Municipal Service Co., Ltd., Shenzhen Free Trade Zone SecurityService Co., Ltd. and Shenzhen Foreign Trade Property Management Co., Ltd., relevant procedures of industrial and commercialchange registration have been completed and the Notification of Change (Filing) from Shenzhen Administration for MarketRegulation was received. For more details, please refer to the Announcement on the Progress of Acquisition by the Wholly-ownedSubsidiary of 100% Equity in Shenzhen Property Management Co., Ltd. and Related-party Transactions (No.: 2022-01),Announcement on the Progress of Acquisition by the Wholly-owned Subsidiary of 100% Equity in Three Enterprises Owned byShenzhen Shenfubao (Group) Co., Ltd. and Related-party Transactions (No.: 2022-05), Announcement on the Progress ofAcquisition by the Wholly-owned Subsidiary of 100% Equity in Shenzhen Foreign Trade Property Management Co., Ltd. andRelated-party Transactions (No.: 2022-06) disclosed on Cninfo (www.cninfo.com.cn) by the Company respectively on 15 February2022 and 25 February 2022.IV Quarterly Financial Statements
(I) Financial Statements
1. Consolidated Balance Sheet
Prepared by ShenZhen Properties & Resources Development (Group) Ltd.
31 March 2022
Unit: RMB
Item | 31 March 2022 | 31 December 2021 |
Current assets: | ||
Monetary assets | 1,369,448,651.08 | 2,337,045,771.27 |
Settlement reserve | ||
Loans to other banks and financial institutions | ||
Held-for-trading financial assets | ||
Derivative financial assets | ||
Notes receivable | 150,000.00 | 200,000.00 |
Accounts receivable | 365,164,518.93 | 289,184,881.92 |
Receivables financing | ||
Prepayments | 85,905,866.83 | 70,981,123.99 |
Premiums receivable | ||
Reinsurance receivables | ||
Receivable reinsurance contract reserve | ||
Other receivables | 881,944,270.49 | 874,825,039.69 |
Including: Interest receivable | 319,763.90 | 292,279.16 |
Dividends receivable | ||
Financial assets purchased under resale agreements | ||
Inventories | 9,816,803,373.14 | 9,125,134,062.27 |
Contract assets |
Assets held for sale | ||
Current portion of non-current assets | ||
Other current assets | 47,697,331.22 | 58,996,984.81 |
Total current assets | 12,567,114,011.69 | 12,756,367,863.95 |
Non-current assets: | ||
Loans and advances to customers | ||
Debt investments | ||
Other debt investments | ||
Long-term receivables | 23,569,548.83 | 23,831,889.11 |
Long-term equity investments | 51,074,701.81 | 50,360,681.37 |
Investments in other equity instruments | 990,506.15 | 1,002,551.95 |
Other non-current financial assets | ||
Investment property | 450,682,766.62 | 452,419,511.17 |
Fixed assets | 109,928,218.63 | 114,155,590.40 |
Construction in progress | ||
Productive living assets | ||
Oil and gas assets | ||
Right-of-use assets | 67,814,802.21 | 71,472,680.73 |
Intangible assets | 1,427,179.92 | 1,753,389.33 |
Development costs | ||
Goodwill | 9,446,847.38 | 9,446,847.38 |
Long-term prepaid expense | 22,093,846.52 | 22,751,829.74 |
Deferred income tax assets | 1,241,157,987.47 | 1,279,816,590.32 |
Other non-current assets | 2,750,873.08 | 45,571,997.85 |
Total non-current assets | 1,980,937,278.62 | 2,072,583,559.35 |
Total assets | 14,548,051,290.31 | 14,828,951,423.30 |
Current liabilities: | ||
Short-term borrowings | ||
Borrowings from the central bank | ||
Loans from other banks and financial institutions | ||
Held-for-trading financial liabilities | ||
Derivative financial liabilities | ||
Notes payable | ||
Accounts payable | 296,714,520.57 | 349,392,792.21 |
Advances from customers | 3,754,571.76 | 3,744,582.25 |
Contract liabilities | 630,161,183.26 | 1,372,977,208.62 |
Financial assets sold under repurchase agreements | ||
Customer deposits and deposits from other banks and financial institutions | ||
Payables for acting trading of securities | ||
Payables for underwriting of securities | ||
Employee benefits payable | 189,565,734.33 | 230,676,486.23 |
Taxes and levies payable | 3,494,984,049.32 | 3,312,148,714.14 |
Other payables | 1,432,254,345.86 | 1,029,915,289.45 |
Including: Interest payable | 0.00 | 0.00 |
Dividends payable | 15,542,675.98 | 17,542,675.98 |
Fees and commissions payable | ||
Reinsurance payables | ||
Liabilities directly associated with assets held for sale | ||
Current portion of non-current liabilities | 82,811,511.60 | 83,924,701.83 |
Other current liabilities | 51,759,712.19 | 77,355,792.16 |
Total current liabilities | 6,182,005,628.89 | 6,460,135,566.89 |
Non-current liabilities: | ||
Insurance contract reserve | ||
Long-term borrowings | 3,610,700,000.00 | 3,524,500,000.00 |
Bonds payable | ||
Including: Preference shares | ||
Perpetual bonds | ||
Lease liabilities | 83,137,357.17 | 83,081,182.89 |
Long-term payables | ||
Long-term employee benefits payable | ||
Provisions | 1,436,353.14 | 1,436,353.14 |
Deferred income | 0.00 | 0.00 |
Deferred income tax liabilities | 239,383.87 | 307,853.79 |
Other non-current liabilities | 117,187,234.59 | 126,059,683.08 |
Total non-current liabilities | 3,812,700,328.77 | 3,735,385,072.90 |
Total liabilities | 9,994,705,957.66 | 10,195,520,639.79 |
Owners’ equity: | ||
Share capital | 595,979,092.00 | 595,979,092.00 |
Other equity instruments | ||
Including: Preference shares | ||
Perpetual bonds | ||
Capital reserves | 80,488,045.38 | 146,986,167.70 |
Less: Treasury stock | ||
Other comprehensive income | -7,782,599.39 | -8,174,653.66 |
Specific reserve | ||
Surplus reserves | 29,637,548.47 | 47,574,940.18 |
General reserve | ||
Retained earnings | 3,811,878,806.46 | 3,804,245,624.10 |
Total equity attributable to owners of the Company as the parent | 4,510,200,892.92 | 4,586,611,170.32 |
Non-controlling interests | 43,144,439.73 | 46,819,613.19 |
Total owners’ equity | 4,553,345,332.65 | 4,633,430,783.51 |
Total liabilities and owners’ equity | 14,548,051,290.31 | 14,828,951,423.30 |
Legal representative: Liu Shengxiang Head of financial affairs: Cai LiliHead of the financial department: Liu Qiang
2. Consolidated Income Statement
Unit: RMB
Item | Q1 2022 | Q1 2021 |
1. Revenues | 1,255,811,600.03 | 966,073,576.97 |
Including: Operating revenue | 1,255,811,600.03 | 966,073,576.97 |
Interest income | ||
Insurance premium income | ||
Fee and commission income | ||
2. Costs and expenses | 977,118,589.24 | 705,939,018.47 |
Including: Cost of sales | 628,064,409.56 | 383,928,619.46 |
Interest expense | ||
Fee and commission expense | ||
Surrenders | ||
Net insurance claims paid | ||
Net amount provided as insurance contract reserve | ||
Expenditure on policy dividends | ||
Reinsurance premium expense | ||
Taxes and levies | 264,764,712.67 | 253,565,596.07 |
Selling expense | 3,937,994.28 | 3,005,132.04 |
Administrative expense | 65,085,375.46 | 54,331,863.04 |
Development costs | 1,267,710.00 | 0.00 |
Finance costs | 13,998,387.27 | 11,107,807.86 |
Including: Interest expense | 17,192,333.07 | 29,487,619.47 |
Interest income | 4,135,325.97 | 18,181,433.61 |
Add: Other income | 2,171,231.11 | 1,735,952.67 |
Return on investment (“-” for loss) | 849,549.56 | 2,677,947.14 |
Including: Share of profit or loss of joint ventures and associates | 714,020.44 | 2,577,004.72 |
Income from the derecognition of financial assets at amortized cost (“-” for loss) | ||
Exchange gain (“-” for loss) | ||
Net gain on exposure hedges (“-” for loss) | ||
Gain on changes in fair value (“-” for loss) | ||
Credit impairment loss (“-” for loss) | -31,765.17 | |
Asset impairment loss (“-” for loss) | ||
Asset disposal income (“-” for loss) | ||
3. Operating profit (“-” for loss) | 281,713,791.46 | 264,516,693.14 |
Add: Non-operating income | 193,104.68 | 8,699,283.46 |
Less: Non-operating expense | 184,355.58 | 607,267.81 |
4. Gross profit (“-” for loss) | 281,722,540.56 | 272,608,708.79 |
Less: Income tax expense | 65,957,243.88 | 66,558,726.58 |
5. Net profit (“-” for net loss) | 215,765,296.68 | 206,049,982.21 |
5.1 By operating continuity | ||
5.1.1 Net profit from continuing operations (“-” for net loss) | 215,765,296.68 | 206,049,982.21 |
5.1.2 Net profit from discontinued operations (“-” for net loss) | ||
5.2 By ownership | ||
5.2.1 Net profit attributable to owners of the Company as the parent | 219,440,470.15 | 213,788,114.74 |
5.2.2 Net profit attributable to non-controlling interests | -3,675,173.47 | -7,738,132.53 |
6. Other comprehensive income, net of tax | 392,054.27 | -269,454.80 |
Attributable to owners of the Company as the parent | 392,054.27 | -269,454.80 |
6.1 Items that will not be reclassified to profit or loss | -12,045.80 | -50,535.60 |
6.1.1 Changes caused by remeasurements on defined benefit schemes | ||
6.1.2 Other comprehensive income that will not be reclassified to profit or loss under the equity method | ||
6.1.3 Changes in the fair value of investments in other equity instruments | -12,045.80 | -50,535.60 |
6.1.4 Changes in the fair value arising from changes in own credit risk | ||
6.1.5 Other | ||
6.2 Items that will be reclassified to profit or loss | 404,100.07 | -218,919.20 |
6.2.1 Other comprehensive income that will be reclassified to profit or loss under the equity method | 0.00 | 0.00 |
6.2.2 Changes in the fair value of other debt investments | 0.00 | 0.00 |
6.2.3 Other comprehensive income arising from the reclassification of financial assets | 0.00 | 0.00 |
6.2.4 Credit impairment allowance for other debt investments | 0.00 | 0.00 |
6.2.5 Reserve for cash flow hedges | 0.00 | 0.00 |
6.2.6 Differences arising from the translation of foreign currency-denominated financial statements | 404,100.07 | -218,919.20 |
6.2.7 Other | 0.00 | 0.00 |
Attributable to non-controlling interests | ||
7. Total comprehensive income | 216,157,350.95 | 205,780,527.41 |
Attributable to owners of the Company as the parent | 219,832,524.42 | 213,518,659.94 |
Attributable to non-controlling interests | -3,675,173.47 | -7,738,132.53 |
8. Earnings per share | ||
8.1 Basic earnings per share | 0.3682 | 0.3587 |
8.2 Diluted earnings per share | 0.3682 | 0.3587 |
Where business combinations under common control occurred in the current period, the net profit achieved by the acquirees beforethe combinations was RMB-6,933,601.34, with the amount for the same period of last year being RMB-632,104.42.Legal representative: Liu Shengxiang Head of financial affairs: Cai LiliHead of the financial department: Liu Qiang
3. Consolidated Cash Flow Statement
Unit: RMB
Item | Q1 2022 | Q1 2021 |
1. Cash flows from operating activities: | ||
Proceeds from sale of commodities and rendering of services | 505,056,812.76 | 1,183,661,425.89 |
Net increase in customer deposits and deposits from other banks and financial institutions | ||
Net increase in borrowings from the central bank | ||
Net increase in loans from other financial institutions | ||
Premiums received on original insurance contracts | ||
Net proceeds from reinsurance | ||
Net increase in deposits and investments of policy holders | ||
Interest, fees and commissions received | ||
Net increase in loans from other banks and financial institutions | ||
Net increase in proceeds from repurchase transactions | ||
Net proceeds from acting trading of securities | ||
Tax and levy rebates | 523,079.87 | 1,762.86 |
Cash generated from other operating activities | 393,205,832.81 | 182,904,556.94 |
Subtotal of cash generated from operating activities | 898,785,725.44 | 1,366,567,745.69 |
Payments for commodities and services | 949,559,047.62 | 351,437,840.76 |
Net increase in loans and advances to customers | ||
Net increase in deposits in the central bank and other banks and financial institutions | ||
Payments for claims on original insurance contracts | ||
Net increase in loans to other banks and financial institutions | ||
Interest, fees and commissions paid | ||
Policy dividends paid | ||
Cash paid to and for employees | 258,508,367.52 | 245,988,285.05 |
Taxes and levies paid | 242,002,874.71 | 569,889,323.38 |
Cash used in other operating activities | 211,104,452.42 | 129,747,944.40 |
Subtotal of cash used in operating activities | 1,661,174,742.27 | 1,297,063,393.59 |
Net cash generated from/used in | -762,389,016.83 | 69,504,352.10 |
operating activities | ||
2. Cash flows from investing activities: | ||
Proceeds from disinvestment | ||
Return on investment | ||
Net proceeds from the disposal of fixed assets, intangible assets and other long-lived assets | 9,344.57 | |
Net proceeds from the disposal of subsidiaries and other business units | ||
Cash generated from other investing activities | ||
Subtotal of cash generated from investing activities | 9,344.57 | |
Payments for the acquisition of fixed assets, intangible assets and other long-lived assets | 1,300,024.45 | 8,068,895.29 |
Payments for investments | 240,634,030.00 | |
Net increase in pledged loans granted | ||
Net payments for the acquisition of subsidiaries and other business units | ||
Cash used in other investing activities | ||
Subtotal of cash used in investing activities | 241,934,054.45 | 8,068,895.29 |
Net cash generated from/used in investing activities | -241,934,054.45 | -8,059,550.72 |
3. Cash flows from financing activities: | ||
Capital contributions received | 140,000.00 | |
Including: Capital contributions by non-controlling interests to subsidiaries | 140,000.00 | |
Borrowings received | 86,200,000.00 | |
Cash generated from other financing activities | ||
Subtotal of cash generated from financing activities | 86,200,000.00 | 140,000.00 |
Repayment of borrowings | ||
Interest and dividends paid | 48,154,777.50 | 40,497,300.00 |
Including: Dividends paid by subsidiaries to non-controlling interests | ||
Cash used in other financing activities | 1,101,998.11 | |
Subtotal of cash used in financing activities | 49,256,775.61 | 40,497,300.00 |
Net cash generated from/used in financing activities | 36,943,224.39 | -40,357,300.00 |
4. Effect of foreign exchange rates changes on cash and cash equivalents | -438,124.09 | 237,436.15 |
5. Net increase in cash and cash equivalents | -967,817,970.98 | 21,324,937.53 |
Add: Cash and cash equivalents, beginning of the period | 1,963,966,564.41 | 4,372,686,831.73 |
6. Cash and cash equivalents, end of the period | 996,148,593.43 | 4,394,011,769.26 |
(II) Independent Auditor’s ReportIndicate by tick mark whether the financial statements above have been audited by an independent auditor.
□ Yes √ No
These financial statements have not been audited by such an auditor.
Board of DirectorsShenzhen Properties & Resources Development (Group) Ltd.27 April 2022