SHENZHENPROPERTIES&RESOURCESDEVELOPMENT(GROUP)LTD.
INTERIMREPORT2020（AnnouncementNo.2020-36）
August2020
PartIImportantNotes,TableofContentsandDefinitions
TheBoardofDirectors(orthe“Board”),theSupervisoryCommitteeaswellasthedirectors,supervisorsandseniormanagementofShenZhenProperties&ResourcesDevelopment(Group)Ltd.(hereinafterreferredtoasthe“Company”)herebyguaranteethefactuality,accuracyandcompletenessofthecontentsofthisReportanditssummary,andshallbejointlyandseverallyliableforanymisrepresentations,misleadingstatementsormaterialomissionstherein.LiuShengxiang,theCompany’slegalrepresentative,CaiLili,theCompany’sheadoffinancialaffairs,andLiuQiang,headoftheCompany’sfinancialdepartment(equivalenttofinancialmanager)herebyguaranteethattheFinancialStatementscarriedinthisReportarefactual,accurateandcomplete.AlltheCompany’sdirectorshaveattendedtheBoardmeetingforthereviewofthisReportanditssummary.TheCompanyissubjecttotheGuidelineNo.3oftheShenzhenStockExchangeonInformationDisclosurebyIndustry—forListedCompaniesEngaginginRealEstate.TheCompanyhasdescribedindetailinthisReportthepossiblerisksfacingit,alongwithcountermeasures.Pleasereferto“XRisksFacingtheCompanyandCountermeasures”in“PartIVOperatingPerformanceDiscussionandAnalysis”ofthisReport.TheCompanyhasnointerimdividendplan,eitherintheformofcashorstock.ThisReportanditssummaryhavebeenpreparedinbothChineseandEnglish.Shouldtherebeanydiscrepanciesormisunderstandingsbetweenthetwoversions,theChineseversionsshallprevail.
TableofContents
PartIImportantNotes,TableofContentsandDefinitions ...... 2
PartIICorporateInformationandKeyFinancialInformation ...... 6
PartIIIBusinessSummary ...... 9
PartIVOperatingPerformanceDiscussionandAnalysis ...... 13
PartVSignificantEvents ...... 29
PartVIShareChangesandShareholderInformation ...... 39
PartVIIPreferredShares ...... 45
PartVIIIConvertibleCorporateBonds ...... 46
PartIXDirectors,SupervisorsandSeniorManagement ...... 47
PartXCorporateBonds ...... 48
PartXIFinancialStatements ...... 49
PartXIIDocumentsAvailableforReference ...... 205
Definitions
| Term | Definition |
| The“Company”,the“Group”,“SZPRD”or“we” | ShenZhenProperties&ResourcesDevelopment(Group)Ltd.anditsconsolidatedsubsidiaries,exceptwherethecontextotherwiserequires |
| SIHC | ShenzhenInvestmentHoldingsCo.,Ltd. |
| SCIHC | ShenzhenConstructionInvestmentHoldingsCorporation |
| SIM | ShenzhenInvestmentManagementCo.,Ltd. |
| TKProperty | ShenzhenToukongPropertyManagementCo.,Ltd. |
| HuangchengRealEstate | ShenzhenHuangchengRealEstateCo.,Ltd. |
| DongguanCompany | DongguanITCChangshengRealEstateDevelopmentCo.,Ltd. |
| XuzhouCompany | SZPRDXuzhouDapengRealEstateDevelopmentCo.,Ltd. |
| YangzhouCompany | SZPRDYangzhouRealEstateDevelopmentCo.,Ltd. |
| Taixinli | ShenzhenTaixinliPropertyManagementCo.,Ltd. |
| RongyaoRealEstate | ShenzhenRongyaoRealEstateDevelopmentCo.,Ltd. |
| ITCPropertyManagement | ShenzhenInternationalTradeCenterPropertyManagementCo.,Ltd. |
| HuangchengPropertyManagement | ShenzhenHuangchengPropertyManagementCo.,Ltd. |
| ShandongShenguomaoRealEstateManagement | ShandongShenguomaoRealEstateManagementCo.,Ltd. |
| ChongqingShenguomaoRealEstateManagement | ChongqingShenguomaoRealEstateManagementCo.,Ltd. |
| YangzhouJingyuePropertyDevelopment | YangzhouShouxihuJingyuePropertyDevelopmentCo.,Ltd. |
| ShenshanGuomaoPropertyDevelopment | ShenzhenShenshanSpecialCooperationZoneGuomaoPropertyDevelopmentCo.,Ltd. |
| GuomaoTonglePropertyManagement | ShenzhenGuomaoTonglePropertyManagementCo.,Ltd. |
| HousingAssetsOperationandManagementCompany | ShenzhenSZPRDHousingAssetsOperationandManagementCo.,Ltd. |
| GuomaoCatering | ShenzhenGuomaoCateringCo.,Ltd. |
| JifaWarehousing | ShenzhenRealEstateJifaWarehousingCo.,Ltd. |
| SupervisionCompany | ShenzhenPropertyEngineeringandConstructionSupervisionCo.,Ltd. |
| Tian’anCompany | ShenzhenTian’anInternationalMansionPropertyAdministrationCo.,Ltd. |
| Industrialpark | Aspecialparkbuiltbyagovernmentoranenterpriseforthepurposeofachievingindustrialdevelopment,ofwhichthosebuiltbyanenterpriseusuallyfallintothefollowingcategories:logisticsparks,technologyparks,culturalcreationpark,companyheadquartersandecologicalagricultureparks |
| RMB,RMB’0,000,RMB’00,000,000 | ExpressedintheChinesecurrencyofRenminbi,expressedintensofthousandsofRenminbi,expressedinhundredsofmillionsofRenminbi |
| IFMA | InternationalFacilityManagementAssociation |
| COVID-19 | Thenovelcoronavirusdiseasethatstartedin2019 |
PartIICorporateInformationandKeyFinancialInformationICorporateInformation
| Stockname | PRD,PRD-B | Stockcode | 000011,200011 |
| Changedstockname(ifany) | N/A | ||
| Stockexchangeforstocklisting | ShenzhenStockExchange | ||
| CompanynameinChinese | 深圳市物业发展(集团)股份有限公司 | ||
| Abbr.(ifany) | 深物业集团 | ||
| CompanynameinEnglish(ifany) | ShenZhenProperties&ResourcesDevelopment(Group)Ltd. | ||
| Abbr.(ifany) | SZPRD | ||
| Legalrepresentative | LiuShengxiang | ||
IIContactInformation
| BoardSecretary | SecuritiesRepresentative | |
| Name | FanWeiping | QianZhongandDingMinghua |
| Address | 39/F,InternationalTradeCenter,RenminSouthRoad,LuohuDistrict,Shenzhen,GuangdongProvince,P.R.China | 39/F,InternationalTradeCenter,RenminSouthRoad,LuohuDistrict,Shenzhen,GuangdongProvince,P.R.China |
| Tel. | 0755-82211020 | 0755-82211020 |
| Fax | 0755-8221061082212043 | 0755-8221061082212043 |
| Emailaddress | 000011touzizhe@szwuye.com.cn | 000011touzizhe@szwuye.com.cn |
IIIOtherInformation
1.ContactInformationoftheCompanyIndicatebytickmarkwhetheranychangeoccurredtotheregisteredaddress,officeaddressandtheirzipcodes,websiteaddressandemailaddressoftheCompanyintheReportingPeriod.
□Applicable√NotapplicableNochangeoccurredtothesaidinformationintheReportingPeriod,whichcanbefoundinthe2019AnnualReport.
2.MediaforInformationDisclosureandPlacewherethisReportisKeptIndicatebytickmarkwhetheranychangeoccurredtotheinformationdisclosuremediaandtheplaceforkeepingtheCompany’speriodicreportsintheReportingPeriod.
□Applicable√NotapplicableThenewspapersdesignatedbytheCompanyforinformationdisclosure,thewebsitedesignatedbytheCSRCfordisclosingtheCompany’speriodicreportsandtheplaceforkeepingsuchreportsdidnotchangeintheReportingPeriod.Thesaidinformationcanbefoundinthe2019AnnualReport.
3.OtherInformationIndicatebytickmarkwhetheranychangeoccurredtootherinformationintheReportingPeriod.
□Applicable√NotapplicableIVKeyFinancialInformation
Indicatebytickmarkwhetherthereisanyretrospectivelyrestateddatuminthetablebelow.
√Yes□NoReasonforretrospectiverestatement:
Businesscombinationundercommoncontrol
| H12020 | H12019 | Change(%) | ||
| Before | Restated | Restated | ||
| Operatingrevenue(RMB) | 1,421,077,767.83 | 755,390,079.96 | 1,065,480,882.30 | 33.37% |
| Netprofitattributabletothelistedcompany’sshareholders(RMB) | 211,967,734.76 | 103,749,398.16 | 155,922,425.40 | 35.94% |
| Netprofitattributabletothelistedcompany’sshareholdersbeforeexceptionalgainsandlosses(RMB) | 210,621,623.38 | 103,686,185.29 | 103,686,185.29 | 103.13% |
| Netcashgeneratedfrom/usedinoperatingactivities(RMB) | -1,623,182,138.90 | -459,952,236.98 | -396,688,011.70 | 309.18% |
| Basicearningspershare(RMB/share) | 0.3557 | 0.1741 | 0.2616 | 35.97% |
| Dilutedearningspershare(RMB/share) | 0.3557 | 0.1741 | 0.2616 | 35.97% |
| Weightedaveragereturnonequity(%) | 6.66% | 3.09% | 4.19% | 2.47% |
| 30June2020 | 31December2019 | Change(%) | ||
| Before | Restated | Restated | ||
| Totalassets(RMB) | 10,948,847,072.58 | 10,772,491,740.53 | 10,772,491,740.53 | 1.64% |
| Equityattributabletothelistedcompany’sshareholders(RMB) | 3,145,941,136.36 | 3,147,949,009.38 | 3,147,949,009.38 | -0.06% |
VAccountingDataDifferencesunderChina’sAccountingStandardsforBusinessEnterprises(CAS)andInternationalFinancialReportingStandards(IFRS)andForeignAccountingStandards
1.NetProfitandEquityDifferencesunderCASandIFRS
□Applicable√NotapplicableNosuchdifferencesfortheReportingPeriod.
2.NetProfitandEquityDifferencesunderCASandForeignAccountingStandards
□Applicable√NotapplicableNosuchdifferencesfortheReportingPeriod.
XIExceptionalGainsandLosses
√Applicable□Notapplicable
Unit:RMB
| Item | H12020 | Note |
| Gainorlossondisposalofnon-currentassets(inclusiveofimpairmentallowancewrite-offs) | 1,901.04 | Retirementanddisposalofmiscellaneousassets |
| Governmentgrantsthroughprofitorloss(exclusiveofgovernmentgrantsgivenintheCompany’sordinarycourseofbusinessatfixedquotasoramountsasperthegovernment’suniformstandards) | 3,647,311.17 | Pandemic-relatedgovernmentgrant |
| Non-operatingincomeandexpenseotherthantheabove | -1,905,036.49 | |
| Less:Incometaxeffects | 400,624.88 | |
| Non-controllinginterestseffects(netoftax) | -2,560.54 | |
| Total | 1,346,111.38 | -- |
ExplanationofwhytheCompanyreclassifiesasrecurrentanexceptionalgain/lossitemdefinedorlistedintheExplanatoryAnnouncementNo.1onInformationDisclosureforCompaniesOfferingTheirSecuritiestothePublic—ExceptionalGain/LossItems:
□Applicable√NotapplicableNosuchcasesfortheReportingPeriod.
PartIIIBusinessSummary
IPrincipalActivityoftheCompanyintheReportingPeriodEstablishedinNovember1982duringChina’s“ReformandOpeningup”campaign,theCompanywasoriginallyknownas“LuohuEngineeringandConstructionHeadquarters”andrenamed“ShenzhenMunicipalPropertyDevelopmentCorporation”inAugust1985.TheCompanywasdeterminedasthesecondbatchofpilotunitsforjoint-stockreformofstate-ownedenterprisesin1988.Approvedbythemunicipalgovernment,theCompanyrenamedtoShenZhenProperties&ResourcesDevelopment(Group)Ltd.(SZPRD)inApril1990.Thestockofthegroupcompany(stockname:PRD,PRD-B;stockcode:000011,200011)wasofficiallylistedinShenzhenStockExchangeinMarch1992.TheCompanyisheadquarteredintheInternationalTradeCenter,RenminSouthRoad,LuohuDistrict,Shenzhen,GuangdongProvince,P.R.China.Atitsinception,theCompanycontractedandbuiltShenzhenInternationalTradeCentreBuildingasPartyA,andcreatedtheworld-famous"ShenzhenSpeed"that"onefloorwascompletedinthreedays".InternationalTradeCentreBuildingrankedthefirstplaceinseveralplacesinChina:Itwasthefirstsuper-high-risebuildinginChina,whichhasoccupiedthepositionof"thetallestbuildinginthecountry"fortenyears;ItwasthefirstbuildingprojectinvolvingbiddinginChina.ItisthelandmarkbuildinginLuohuandevenShenzhen,aresoundinghistoricalandculturalsymbolinShenzhenandthe"culturalcardinShenzhen".Itwasselectedintothefirstbatchof45historicalbuildingsinShenzhenandbecame"TheReflectionoftheShenzhenSpeedandtheSymboloftheReformandOpening-up"withareputationforthewholecountryandeventheworld.Theenterprisespiritof"goingaheadandreforming"ofShenzhenPropertyGrouphasalsobecomethespiritualtotemofthenumerousentrepreneursinShenzhen.Sinceitsestablishment38yearsago,theCompanyhasdevelopedintoalarge-scalecomprehensivegroupcompanyfromasimpleprojectcompanyatthattimebyfocusingonthetraditionalrealestatebusinessandimplementingthepluralisticdevelopmentstrategy,takingLuohuasitsbaseareaandradiatingalloverthecountry.Ithasmadesubstantialachievementsinthemodeloftransformationtowardsmodernindustry-citycomplexes.Accordingtoitsstrategicdevelopmentplanning,theCompanywillspeedupthetransformationandupgradinginthedevelopmentofrealestate,propertymanagementandhouseleasinginthefuture.Withfocusonthebusinesssegmentthatcentersaroundcityspacedevelopment,propertymanagementserviceandindustrialecosystemoperation,theCompanywillextendtothedevelopmentofhigh-endvalue-addedservices,andstrivetogrowintoaworld-leadingoperatorofintelligenttechnologyparkeco-systems.Theyear2020markstheendofthe“13
thFive-Year”planandisakeyyearfortheCompanytowincriticalbattlesinimplementingitsreformsonallfronts.FacingtheabruptCOVID-19,theCompanywillcontinuetobalancebetweentheepidemicpreventionandcontrolandtheresumptionofworkandproduction,promotingthehighqualitydevelopmentofallbusinessesinasystematicway.
1.CitySpaceDevelopmentBasedonitspresentrealestatedevelopmentbusiness,theCompanywillimproveitsexistingportfolioandplanfornewbusinesses.Itwillengageanumberofsubsidiariesinpropertydevelopmentandurbanrenewals,includingShenzhenHuangchengRealEstateCo.,Ltd.,DongguanITCChangshengRealEstateDevelopmentCo.,Ltd.,SZPRDXuzhouDapengRealEstateDevelopmentCo.,Ltd.,SZPRDYangzhouRealEstateDevelopmentCo.,Ltd.,ShenzhenTaixinliPropertyManagementCo.,Ltd.,andShenzhenRongyaoRealEstateDevelopmentCo.,Ltd..Bydoingthis,theCompanywillpromotethetransformationandupgradingofitsrealestatebusinessandmakereasonableplansforthedevelopmentofcityspace.First,itwillsteadilyadvancetheexistingprojectdevelopmentinsideandoutsideShenzhen,acceleratethesalesofprojectsinXuzhou,YangzhouandDongguan,andspeeduptherecoveryofinvestment.Second,itwillgraspthemainstreamtrendofcityrenewalsandupgradinginShenzhen,dedicatetopotentialrenovationworks,partakeinrenovationprojectsinanorganizedandsystematicmanner,andactivatethenewgrowthdriverfromtherenovationofpropertiesinstock.Third,whileensuringthestandardizationofitsbusinessprocessesandthestableoperations,theCompanywillactivelyinvestinnewlandandbuildarootinTier-1andkeycitiesoftheGuangdong-HongKong-MacaoGreaterBay
AreaandthePearlRiverDeltaregionthroughindustrialdevelopmentandurbanrenewals.Itwillgatheradvantagedforcesandincreaselandreservetoaddresstheshortageoflandinexpandingitsbusiness.Onthebasisofconsolidatingitsrealestatedevelopment,theCompanywillfurtherfocusonthedevelopmentandconstructionofscienceparksinthefutureandstrivetowardsaseriesofmodelinnovativescienceparkprojects.
2.PropertyManagementServiceTheCompanyusesShenzhenInternationalTradeCenterPropertyManagement,awholly-ownedsubsidiaryoftheCompany,asthecoreplatforminthepropertymanagementservicesegment.Overmorethan30yearsofdevelopment,ShenzhenITCPropertyManagementhasdevelopedintoadomestictopbrandedpropertyserviceproviderofindustrialparks.Ithaswonthetitlesof“Top100NationalPropertyManagementEnterprises”and“ExcellentEnterpriseofPropertyManagementofIndustrialParkInChina”forseveralyearssuccessively,andhassixsubsidiaries,includingShenzhenHuangchengPropertyManagementCo.,Ltd.,ShandongITCPropertyManagementCo.,Ltd.,ChongqingITCPropertyManagementCo.,Ltd.,YangzhouJingyuePropertyManagementCo.,Ltd.,andthejointventuresShenshanGuomaoPropertyManagementandTonglePropertyManagementofShenzhenITCPropertyManagement.Ithasbuiltstrikingbrandadvantagesandestablishedpropertyserviceprojectsalloverthecountry,includingHulunBuir,Manzhouli,BaodinginSouthwestChinaMarket,Shandong,Shanghai,ZhejiangandJiangsuinEastChinaMarket,ChongqinginSouthwestChinaMarket,ShenzhenandDongguaninSouthChinaMarket.TheCompanyhasprovidedserviceforthefamousenterpriseparks(Huawei,Alibaba,Jingdong,Hikvision)andalargebatchofgovernmentpropertyprojectsinShandongandChongqing.SincethesuccessfulacquisitionofTKPropertyin2019,theCompanyhaswitnessedsubstantialenhancementinitspropertymanagementscaleandcomprehensivecompetitiveness.CurrentlythetotalpropertymanagementareaoftheCompanyismorethan20millionsquaremeters,including8millionsquaremetersofmanagementareaofhighqualityindustrialparks.TheCompanyhasrealizedthenationallayoutofhighendindustrialparkoperationmanagement,havingBaodingShenzhenIndustrialParkinthenorth,HangzhouAlibabaintheeast,ShenzhenBayIndustrialParkinthesouth,andChongqingJingdongIndustrialParkinthewest.ThehighendindustrialoperationandmanagementscaleoftheCompanywillenterintothefirstechelonofitskindinChina.Onthebasisofconsolidatingtraditionalpropertymanagement,theCompanywillfurtheracceleratetheuseofbigdata,InternetofThings,AI,andothernewtechnologies,buildsmartoperationserviceplatforms,constantlypromoteplatformupgradingandrealizebigprofits.
3.IndustrialEcosystemOperationAsanimportantpartforbuildingtheCompanyintoanoperatorofthewholeecologicalchain,houseleasingwasoriginallyoperatedbytheleasingcenteroftheHQ,andnowitisoperatedbythehouseleasingcompanyindependently,withtheintroductionoftheself-ownedbrandoflong-termleasing“XiApartments”.WiththeacquisitionofTKProperty,theCompanynowhasanareaofnearly400,000squaremetersavailableforleasingwithaleasingrateof95%,involvingcommercialproperties,officebuildings,factoriesandaccommodationbuildings.TheCompanyisexpeditingthestocktakingandassessmentofitspropertiesinstockandstrengtheningthemanagementoverthem.Inthefuture,itwillgraduallyexpandthescopeofleasingandspeedupthedevelopmentofitsmarketforlong-termleasingofapartments.Itwillcultivateleasingbrands,derivevalue-addedservicesbycenteringaroundtheleasingindustrychain,buildonlineandofflineleasingecosystems,andenhanceitscapacityforpropertyleasingdevelopment.Onthisbasis,theCompanywillfullywielditsdevelopmentadvantagesinitsthreeessentialbusinesses,namely,realestatedevelopment,propertymanagementandleasing,continuetooptimizethespaceserviceandleasingecosystemsinitsparks,anddevelopthesystemofitsindustrialecosystemoperationsegment.
4.OtherbusinessTheCompanyalsoprovidescateringservice,warehousingservice,supervisionservice,etc.ThecateringserviceisoperatedbyShenzhenGuomaoCateringCo.,Ltd,withthetotaloperationareaas1,892squaremeters.GuomaoCateringCo.,Ltd.wasestablishedin1986,andtheITCRevolvingRestaurantisthefirstairrestaurantinChinaandwaslistedas“China’shighestrevolvingrestaurant”bytheStateCouncil,istheonlyrevolvingrestaurantspecializinginChinesefoodsandanimportantreceptionrestaurantsappointedbyShenzhenMunicipalGovernment,andhasreceivedmorethan600domesticandoverseasstateheads,famouspeopleandnumerousdomesticandoverseasguests,withitsreputationspreadingallovertheworld.TalksgivenbyPresidentDeng
XiaopinginITCRevolvingRestaurantduringhisinspectiontothesouthin1992stirredupthesecondwaveofChina’sopeningup,andITCRevolvingRestaurantalsobecomeslandmarkscenicspotofShenzhenwithuniquehistoricalsignificance.WarehousingserviceismainlyoperatedbyjointventureJifaWarehousingCo.,Ltd.,withtotalwarehouseareaas35,000squaremeters.SubordinatedsupervisioncompanyoftheGroup,whichwasoriginallyknownasShenzhenPropertyEngineeringManagementDepartment,hasgradeAsupervisionqualificationofbuildingworksofMOHURD,andtakespartintheconstructionandmanagementworkofShenzhenWorldTradeCenterBuilding.Itisawitnessofthewholeprocessof“Shenzhenspeed”,andmainlyservesforthedevelopmentprojectoftheGroup.IISignificantChangesinMajorAssets
1.SignificantChangesinMajorAssets
| Majorassets | Mainreasonforsignificantchanges |
| Equityassets | Up0.35%fromthebeginningamount,primarilydrivenbyreturnoninvestmentinjointventuresrecognizedattheequitymethod |
| Fixedassets | Down4.55%fromthebeginningamount,primarilydrivenbypurchaseofmiscellaneousofficefacilitiesanddepreciation |
| Intangibleassets | Down15.59%fromthebeginningamount,primarilydrivenbynormalamortization |
| Constructioninprogress | N/A |
| Accountsreceivable | Up30.40%fromthebeginningamount,primarilydrivenbyincreaseinpropertymanagementfeesandrentsreceivable |
| Otherreceivables | Down12.83%fromthebeginningamount,primarilydrivenbytherepaymentofloanbyXinhaiHolding |
| Othercurrentassets | Down61.18%fromthebeginningamount,primarilydrivenbydecreaseinthebalanceofprepaidVAT |
| Othernon-currentassets | Up297.34%fromthebeginningamount,primarilydrivenbyincreaseinprepaymentforbuildinglong-livedassets |
2.MajorAssetsOverseas
□Applicable√NotapplicableIIICoreCompetitivenessAnalysis
Inrecentyears,whilevigorouslydevelopingthetraditionalrealestatebusinessanddeployingthecorecitycluster,theCompanyhasgraduallyimproveditspluralisticdevelopmentstrategy,andcontinuouslyenhanceditscorecompetitivenessbymeansofeffectivestrategicadjustmentsoastoaccumulatestrengthforitsfuturesustainabledevelopment.TheCompany’scorecompetitivenesscanbeanalyzedfromthefollowingaspects:
Thefirstistheenterprisespiritof"goingaheadandreforming".Atthebeginningofitsestablishment,The"ShenzhenSpeed"that"onefloorwascompletedinthreedays"reflectedthegoodstyleofworkofShenzhenPropertypersonnel,suchastakingcourage
toexplore,andforgedtheenterprisespiritof"goingaheadandreforming".Inrecentyears,theCompanyhasbeenplanningforthefutureandcarryingouttransformationinatimelymanner.Throughboldreformsandproactiveexplorationineverybusinesssegments,theCompanyisforgingaheadtowardsa“World-LeadingOperatorofIntelligentTechnologyParkEco-Systems”.Thesecondistheconstantlyenriched,multi-channelresources.AsthemaincompanyandplatformcompanyofmunicipalstateownedenterprisesystemofShenzhen,SZPRDthoroughlyutilizeslistedcompanyplatformforcapitaloperation,constantlyenrichespropertyresourcesundermanagement,includingland,housingpropertyandhighendscientificandtechnologicalpark,andrealizesendogenousanddenotativegrowth.ItactivelyintroducesstrategicinvestorsandestablishesstrategiccooperationrelationshipwithInfinova,Aramarkandothercompanies,withitsstrategicresourcesobtainingandintegrationabilityenhancedconstantly.Meanwhile,relyingonhighqualityserviceandgoodreputationoverthemorethanthreedecades,ithasaccumulatedalotofstablecustomerresources,andexpandsprojectresourcesconstantly,andtheaffiliatedpropertymanagementcompanywonseveralbidsofpropertymanagementprojects.Itspropertyserviceformatrealizesdiversificationandprofessionalism.Thethirdisadisciplinedandstablemanagementteamthatismorethanreadytoreform.Guidedbythephilosophyofrunningbylaw,theCompanyconstantlydeepenedsystemconstruction,improveditsgovernancestructure,consolidatedenterpriseoperationfoundation,andimprovedmanagementlevel.TheCompanyhasastableoperationteam,whichpersistsinthecorporatedevelopmentstrategy,continuouslymakingthe13
thFive-YearStrategicPlanandthe14
thFive-YearStrategicPlanandpioneeringwiththestrategicplansastheguidelineandroadmap,thusensuringthecontinuityoftheCompany’sprincipalpolicy.Theforthisstrongandwidelyrecognizedbrandvalue.Overmorethan30yearsofdevelopmentandaccumulation,theCompanyishighlyrecognizedinthemarketbyvirtueofitsbrandvalueof“SZPRD”and“ITC”brandvaluethatcarriesthespiritofopeningup.InJuly2019,theCompanywonthehonorof“BrandValueEnterpriseofShenzhenRealEstateDevelopmentIndustry”and30-YearVicePresentUnitSinceShenzhen’sEstablishment”,aswellasthehonorof““Best500ofChinaRealEstateDevelopers”,“GuangdongTop500Enterprises”,etc,withitssocialinfluenceandbrandreputationimprovedconstantly.
PartIVOperatingPerformanceDiscussionandAnalysis
IOverview
Inthefirsthalfyearof2020,theepidemiccausedbythenovelcoronavirusproducedbigimpactonthecountry’soveralleconomyandrealestatemarket.Asanefforttocountertheimpact,Chinasubstantiallyincreasedtheeffortinthecounter-cyclicaladjustmenttoitsmacropolicy,leadingtomoreflexibleimplementationofpoliciesaccordingtolocalconditionsofdifferentcities.DuringtheReportingPeriod,theoveralldevelopmentoftherealestateindustryinChinatookonthefollowingcharacteristics:
Intermsofpolicy,theindustrialfundenvironmentwasquiterelaxedinthecontextof“sixstabilitiesandsixguarantees”.Atthesametime,greatereffortsweremadeindrivingnewurbanizationandpromotingregionaldevelopmentstrategies.Measuressuchasdelegatingtheauthorityforlandapproval,improvingthemarket-basedallocationoffactorsofproduction,andacceleratingtherenovationofagedanddilapidatedresidences,werebeneficialtothemedium-andlong-termdevelopmentoftherealestateindustry.Intermsofrealestatecontrol,thecentralgovernmentpersistedinthepositioningof“Housesareforlivingin,notforspeculatingon”,withcontinuouslystrictfinancialregulationovertherealestatesector.Localgovernmentsinmanyplacesintroducedrealestatesupportingpoliciesfrombothsupplyanddemandends.Theystucktothebottomlineof“housingpurchaserestrictionandloanrestriction”,andpromotedthestableoperationsoftherealestatemarketbyeasingrestrictionsforhouseholdregisterpolicies,loweringthethresholdfortalentintroduction,andincreasinghousingsubsidies.Intermsofmarketvolumeandprice,therealestateexperiencedfromdepressiontocontinuousrecovery.Fromtheperspectiveofprice,accordingtothedataofChina’srealestateindexsystem,thecumulativeriseintheaveragepriceofnewlybuiltresidencesin100citieswasthelowestforthesameperiodinrecentfiveyears;themonth-on-monthrisehadincreasedslightlysinceMarch;andthecumulativeincreaseinthepriceforthefirsthalfyeardroppedby0.18%to1.27%comparedtothesameperiodoflastyear.Intermsoftransactionvolume,theyear-on-yeardropsinbothnewandsecondhandhousesreachedthepeakinrecentyears.Withinashortperiod,theregularepidemicpreventionandcontrolandtheeconomicdevelopmentpressurewillincreasetheinstabilityoftherealestatemarket.Intermsoftransactionstructure,affectedbyfactorssuchascityfundamentalsandthedevelopmentstagesofrealestatemarket,themarketdifferentiationtrendwasobviousindifferentcities,withsomepopularcitieswitnessingastrongmomentumintherecoveryofdemandsandfasterreleaseofimprovementdemands.Astheepidemicimpactweakensinthefuture,markettransactionvolumeisexpectedtocontinuouslyrecover,withgreatroomforthereleaseofimprovementdemands,andtheproportionofmid-andhigh-endqualityprojectsexpectedtorise.Intermsoflandmarket,themarketlaunchoflandforhousesincreasedbyasmallmargininthefirsthalfyear,withaslightfallintransactions.Thecentralbankcontinuedtomaintainreasonablysufficientliquiditythroughpositivemonetarymeasures,includingcuttingthereserverequirementratioandinterestrates.Someenterprisesarefacinglesspressureforfunds.Thelandmarketisexpectedtodeveloptowardsrationality,butremainpopularinsomefavoredcities.(I)CharacteristicsoftheCompany’sMainBusinessOperationsFirst,theCompany’scityspacedevelopmentstoodoutfromothersegmentsandsustainedthechallengesoftheepidemic.Inthefirsthalfyear,theCompanyachievedoperatingrevenueofRMB859millionfromitsrealestatebusiness,accountingfor60.43%ofthetotalrevenue,representingagrowthrateofasmuchas82.71%year-on-year;andthegrossprofitmarginreached82.55%,representingagrowthof12.58%year-on-year.DuringtheReportingPeriod,therevenuefromrealestatemainlycomprisedRMB807millionfromSZPRD-GoldenCollar’sResort,RMB18millionfromSZPRD-BanshanYujing,andRMB17millionfromSZPRD-SonghuLangyuan,withSZPRD-GoldenCollar’sResortcontributingthemajorityofthesubstantialgrowthinrevenueandgrossprofit.Inaddition,FuchangPhaseII,YupinluanshanGardenandFuyuanIndustrialParkwereadvancedorderly;ShenzhenRongyaoRealEstateDevelopmentCo.,Ltd.,SZPRDYangzhouRealEstateDevelopmentCo.,Ltd.andSZPRDXuzhouDapeng
RealEstateDevelopmentCo.,Ltd.maintainednormaloperationsundertheimpactofCOVID-19,andwilldrivetheprogressofallprojectsinthesecondhalfyear.Second,theCompany’spropertymanagementsawgrowthinstabilitywithcontinuedfastermarketexpansion.Inthefirsthalfyear,undertheimpactofCOVID-19,somesubsidiariesexperiencedlowcollectionratesofpropertymanagementfeesbuthighercostsintheepidemicpreventionandcontrol.Inlightofthesituation,theCompanyproactivelytookcountermeasuresbytakingtheinitiativetocommunicatewithcustomersandsteadilypromotingthenormaloperationsofprojectsundermanagement.DuringtheReportingPeriod,theCompanyachievedoperatingrevenueofRMB491millionfromitspropertymanagementbusiness,accountingfor34.52%ofthetotalrevenueandremainingthesecondbiggestsourceofoperatingrevenue;andthegrossprofitmarginwas
14.73%,representingaslightincreaseyear-on-year.TheCompanyclimbedtothe27
th
placeintherankingamongChina’stop100propertyservicesforcomprehensivecompetency,withcontinuouslyrisingbrandvaluesandexpandedmarketinfluence.Inthesecondhalfyear,theCompanywillproactivelydrivethemarketdevelopmentofitspropertymanagementbusiness,improveservicequality,enhancecustomerloyalty,andachievethegrowthofprojectsinstockandtheadvancementofnewprojects.Third,theCompany’sindustrialecosystemoperationsandothersegmentswereadvancedorderly,withachievementsmadefromthestrategyofdiversifiedoperations.HousingAssetsOperationandManagementCompanygraspedthedevelopmentopportunitybroughtbythetransformationandupgradingforthepost-pandemicera,fullyimplementedtherentalexemptionpolicy,andtookeffectivemeasurestomaintainqualitycustomers.Steadyprogresswasmadeasscheduledinanumberofprojects,includingtheSix-StoreyBuildingatYingchunRoadinLuohu,FoodCourtintheInternationalTradeCenter,andFuminComplex.SupervisionCompanyperformedsupervisionoveragroupofkeyprojects,includingrefineddecorationsofSZPRD-GoldenCollar’sResort,anddecorationworksofFuchangPhaseII,XuzhouPhaseIIandInternationalTradeBuilding,continuedtostepupeffortsinexpansion,andacquiredexternalprojectsthroughmultiplechannels.GuomaoCateringwasinbusinesssuspensionduetodecorationworks.Whilecooperatingwiththerestaurantsinthedecorationandrenovationworks,GuomaoCateringcarriedoutmarketsurvey,developednewdishes,andimprovedthestandardmanagementmechanismforcateringservices.Itincreasedeffortsinthepublicitybeforeopeningtoenhancethebrandvisibilityandprofessionalservicequality,demonstratingthenewvitality,newstartpointandnewheightofShenzhenInternationalTradeRevolvingRestaurantasa“time-honored”cateringbrand.(II)ProgressofMajorProjectsunderConstructionTheCompanyissubjecttotheGuidelineNo.3oftheShenzhenStockExchangeonInformationDisclosurebyIndustry—forListedCompaniesEngaginginRealEstate.
1.NewadditionstothelandbankTherewerenonewadditionstotheCompany’slandbankduringtheReportingPeriod.
2.Cumulativelandbank
| Nameofproject/area | Sitearea（0,000㎡） | Floorarea（0,000㎡） | Floorareaavailablefordevelopment（0,000㎡） |
| GuanlanBanglingproject | 6.83 | 61.33 | 61.33 |
| YupinluanshanGardenproject | 2.19 | 7.89 | 7.89 |
| Baoluproject | 3.24 | 8.16 | 8.16 |
| LandinDanshui,HuiyangDistrict,HuizhouCity | 1.77 | 6.20 | 6.20 |
| LandinHongqiTown,HaikouCity | 15.8 | - | - |
| Total | 29.83 | 83.58 | 83.58 |
Note:ThefloorareasoftheYupinluanshanGardenproject,theBaoluprojectandthelandinDanshui,HuiyangDistrict,HuizhouCityarefloorareaswithplotratio.
3.Developmentstatusofmajorprojects
| City/region | Nameofproject | Location | Usage | TheCompany’sinterest | Timeforcommencementofconstruction | %developed | %thathascompletedconstruction | Sitearea（㎡） | Plannedfloorareawithplotratio（㎡） | FloorareathatcompletedconstructionintheCurrentPeriod（㎡） | Cumulativefloorareathathascompletedconstruction（㎡） | Estimatedtotalinvestment(RMB’0,000) | Cumulativeinvestment(RMB’0,000) |
| Shenzhen | GoldenCollar’sResortapartments | FutianDistrict | Residential | 100% | March2014 | 100% | 100% | 12,598 | 133,800 | 182,585 | 182,585 | 138,311 | 94,995 |
| Shenzhen | FuhuiHuayuan | FutianDistrict | Affordablehousing | 100% | December2018 | Underconstruction | Pilefoundationcompleted | 4,274 | 32,050 | 0 | 0 | 90,439 | 58,377 |
| XuzhouCity | BanshanYujing(PhaseII) | TongshanDistrict | Residential | 100% | March2019 | Underconstruction | Interiorandexteriordecorationongoing,scaffoldsofcertainbuildingremoved | 31,537 | 22,605 | 0 | 0 | 23,581 | 12,738 |
4.Salesstatusofmajorprojects
| City/region | Nameofproject | Location | Usage | TheCompany’sinterest | Floorareawithplotratio（㎡） | Floorareaavailableforsale（㎡） | Cumulativepre-sold/soldfloorarea（㎡） | Floorareapre-sold/soldintheCurrentPeriod | Pre-sale/salesrevenuegenerateintheCurrentPeriod | Cumulativesettledfloorarea(㎡) | FloorareasettledintheCurrentPeriod（㎡） | Pre-sale/salesrevenuesettledintheCurrentPeriod |
| （㎡） | (RMB’0,000) | (RMB’0,000) | ||||||||||
| Shenzhen | GoldenCollar’sResortapartments | FutianDistrict | Residential,studioapartmentsandcommercial | 100% | 133,800.6 | 125,234.63 | 40,345.32 | 5,502.54 | 29,941 | 39,842.12 | 12,739.99 | 80,667.69 |
| YangzhouCity | HupanYujing | 80HangouRoad,YangzhouCity | Multi-storey,PhaseI | 100% | 36,141.28 | 48,870.98 | 41,817.57 | 338.9 | 131.6 | 41,609.81 | 338.63 | 345.43 |
| YangzhouCity | HupanYujing | 80HangouRoad,YangzhouCity | Multi-storey,PhaseII | 100% | 56,935.75 | 73,121.96 | 66,307.52 | 101.69 | 40.98 | 63,775.58 | 655.59 | 535.22 |
| XuzhouCity | BanshanYujing(PhaseI) | 6HuashanRoad,TongshanDistrict,XuzhouCity,JiangsuProvince | Villa | 100% | 53,921.82 | 87,447.35 | 85,652.81 | 0 | 0 | 85,652.81 | 2,331.54 | 1,802.17 |
| XuzhouCity | BanshanYujing(PhaseII) | 6HuashanRoad,TongshanDistrict,XuzhouCity,JiangsuProvince | Low-densityresidentialunits | 100% | 22,604.96 | 21,720.72 | 20,769 | 9,041 | 11,035.89 | 0 | 0 | 0 |
5.Rentalstatusofmajorprojects
| Nameofproject | Location | Usage | TheCompany’sworkinginterest | Rentablearea（㎡） | Cumulativerentedarea（㎡） | Averageoccupancyrate |
| XiApartments(Longyuan) | Shenzhen | Apartmentsforlong-termrental | 100.00% | 3967 | 3967 | 100.00% |
| XiApartments(Longhua) | Shenzhen | Apartmentsforlong-termrental | 100.00% | 1609 | 1609 | 100.00% |
| XiApartments(Xinhu) | Shenzhen | Apartmentsforlong-termrental | 100.00% | 1600 | 1600 | 100.00% |
| FoodCourtintheInternationalTradeCenter | Shenzhen | Commercial | 100.00% | 4080 | 3250 | 80.00% |
| TowerAofWenjinduPortBuilding | Shenzhen | Officebuilding | 75.00% | 5884 | 5703 | 97.00% |
| HaiwaiLianyiBuilding | Shenzhen | Commercialunitsandoffices | 75.00% | 9788 | 9788 | 100.00% |
| AnhuaBuilding | Shenzhen | Offices | 75.00% | 1414 | 757 | 54.00% |
| TrainingBuilding/Dormitory | Shenzhen | Residentialunits/offices/commercialunits | 75.00% | 2796 | 2796 | 100.00% |
| PengfuBuilding | Shenzhen | Offices | 75.00% | 6494 | 6494 | 100.00% |
| JinfuBuilding | Shenzhen | Commercial | 75.00% | 1702 | 1702 | 100.00% |
| JinfuBuilding | Shenzhen | Commercial | 100.00% | 568 | 568 | 100.00% |
| FuxingGarden | Shenzhen | Residential/commercial | 75.00% | 5877 | 5877 | 100.00% |
| FuxingGarden | Shenzhen | Commercial | 100.00% | 1417 | 1417 | 100.00% |
| PlantareainTangxiaTown,DongguanCity | DongguanCity | Plant | 75.00% | 22034 | 22034 | 100.00% |
| PacificBusinessBuilding | Shenzhen | Commercialunits/offices | 75.00% | 3199 | 3029 | 95.00% |
| PacificBusinessBuilding | Shenzhen | Commercialunits/offices | 15.00% | 14889 | 14714 | 99.00% |
| KangtiBuilding | Shenzhen | Commercialunits/offices | 75.00% | 2096 | 2096 | 100.00% |
| KangtiBuilding | Shenzhen | Commercialunits/offices | 15.00% | 1147 | 1147 | 100.00% |
| LyuhuaBuilding | Shenzhen | Commercialandresidential | 75.00% | 6960 | 6484 | 93.00% |
| Shopsonthegroundfloorof | Shenzhen | Shops | 75.00% | 1000 | 1000 | 100.00% |
| Tower48inLianhuaNorthVillage | ||||||
| HaonianhuaBuilding | Shenzhen | Apartmentsandcommercialunits | 100.00% | 1803 | 1758 | 98.00% |
| HaonianhuaBuilding | Shenzhen | Apartmentsandcommercialunits | 75.00% | 2329 | 2233 | 96.00% |
| Hostel2atYuxinSchool | Shenzhen | Hostel | 75.00% | 3000 | 3000 | 100.00% |
| KaifengGardeninShangmeilin | Shenzhen | Residential | 100.00% | 1307 | 1277 | 98.00% |
| WestTowerofBaihuoSquare | Shenzhen | Commercialunits/offices | 100.00% | 13632 | 13632 | 100.00% |
| NanzhengBuilding | Shenzhen | Offices | 100.00% | 8810 | 6590 | 75.00% |
| Building409inSangdaIndustrialZone | Shenzhen | Plant | 100.00% | 3309 | 3309 | 100.00% |
| MianshuiStudioApartments | Shenzhen | Apartments | 100.00% | 3440 | 3440 | 100.00% |
| XiangfuBuilding | Shenzhen | Commercialunits | 100.00% | 3109 | 3109 | 100.00% |
| FuyuanIndustrialZone | Shenzhen | Plant | 75.00% | 59596 | 58887 | 99.00% |
| TongluIndustrialZone | Shenzhen | Plant | 100.00% | 76886 | 73221 | 95.00% |
| GongluBuilding | Shenzhen | Commercial/offices | 75.00% | 317 | 317 | 100.00% |
| GongluBuilding | Shenzhen | Offices | 100.00% | 89 | 89 | 100.00% |
| JianglingIndustrialZone | Shenzhen | Plant | 75.00% | 10397 | 10397 | 100.00% |
| District21 | Shenzhen | Commercial/offices | 75.00% | 9514 | 9514 | 100.00% |
| BaoliEstate | Shenzhen | Residential | 75.00% | 9020 | 9020 | 100.00% |
| SonggangPlant | Shenzhen | Plant | 75.00% | 5700 | 5700 | 100.00% |
| BulongPlant | Shenzhen | Plant | 75.00% | 7471 | 7471 | 100.00% |
| HuanggangRoadBuilding | Shenzhen | Offices | 75.00% | 4600 | 4600 | 100.00% |
| YuetongComplex | Shenzhen | Offices | 75.00% | 3044 | 3044 | 100.00% |
6.Primarylanddevelopment
□Applicable√Notapplicable
7.Financingchannels
Unit:RMB’0,000
| Financingchannel | Endingbalanceoffinancings | Financingcostrange/averagefinancingcost | Maturitystructure | |||
| Within1year | 1-2years | 2-3years | Over3years | |||
| Bankloans | 436,490.00 | 4%-6% | 78,000.00 | 6,180.00 | 6,180.00 | 346,130.00 |
| Total | 436,490.00 | 78,000.00 | 6,180.00 | 6,180.00 | 346,130.00 | |
8.DevelopmentStrategyandtheBusinessPlanfortheComingYearFirst,theCompanywillpromotetheconstructionofkeyprojects,focusonprojectimplementation,continuetostrengthenmanagementandcontrolovertheprojects’generalgoals,goalsfordifferentstages,schedulesandinvestmentplans.ItwillfocusondrivingtheprogressofBlockCofSZPRD-GoldenCollar’sResort,GuanlanBangling,FuchangPhaseII,XuzhouPhaseIIandYupinluanshan.Second,theCompanywillmakefullefforttocollectpaymentfromsales,speeduprecoveryofinvestment,dulyadjustitsmarketingstrategybasedonthemarketsituation,andgraspopportunitiesandtimingsthroughflexibleuseofmultiplemarketingapproachesandchannels.Third,theCompanywillfullyactivateandexerttheefficiencyofassetsoperation,activateassetsinstockandimprovebothqualityandefficiencywhileexercisingroutineleasingmanagement.Fourth,theCompanywillspeeduptheexpansionofitspropertymanagementsegment,expandthebrandinfluence,andpersistinthedoubledriveforcesofacquisitionandself-expansiontorapidlyachievetheexpansionofpropertymanagementacrossthecountry.Itwillcompletethestandardizationofproductsandservicesinthesegmentofprojectmanagementtoformadvantagesinsystem,brandandstandard.
9.Provisionofguaranteesforhomebuyersonbankmortgages
√Applicable□NotapplicableAsausualpracticeforrealestatedevelopers,theCompanyhasbeenprovidingguaranteesandsecuritydepositsforitshomebuyersontheirbankmortgages.Asat30June2020,securitydepositsforsuchoutstandingguaranteesamountedtoRMB1,120,910.60,whichwillbereturnedupontheexpiryoftheguarantees,i.e.whentherelevanthomebuyerspaidofftheirbankmortgages.Asausualpracticeforrealestatedevelopers,theCompanyanditssubsidiarieshasbeenprovidingguaranteesforitshomebuyersontheirbankmortgages,andthehomebuyersusetheirpurchasedhomesascollateral.Asat30June2020,theoutstandingguaranteeamountwasRMB291,699.484.08intotal.Onthegroundthattherehavebeennodefaultbythehomebuyerssofarandthatthemarketpricesoftherelevantpropertiesarecurrentlyhigherthanthetradingprices,theCompanybelievestheriskassociatedwithsuchguaranteesislow.
10.Jointinvestmentsbydirectors,supervisorsandseniormanagementandthelistedcompany(applicableforsuchinvestmentswherethedirectors,supervisorsandseniormanagementaretheinvestmententities)
√Applicable□Notapplicable
| Nameofproject | Typeofinvestmententity | Amountofinvestment(RMB’0,000) | %ofinvestmentamount | As%ofthepeakoftheprojectfunds | Cumulativeincome | Disinvestment | Compatibilityofactualinvestmentamountanddistributedincome |
| UrbanRenewalofBanglingSectionatGuanlanStreet | Mandatoryinvestmententities(includingdirectorsandseniormanagement) | 2,647.00 | 66.18% | N/A | 0 | None | N/A |
| Voluntaryinvestmententities | 1,353.00 | 33.82% | N/A | 0 | None | N/A |
Note:Sincethisisanongoingproject,thepeakoftheprojectfunds,cumulativeincomeanddisinvestmentareunknown.Fordetails,pleaserefertotherelevantannouncementsdisclosedbytheCompanyonwww.cninfo.com.cndated9November2019.IICoreBusinessAnalysis
See“IOverview”above.Year-on-yearchangesinkeyfinancialdata:
Unit:RMB
| H12020 | H12019 | Change(%) | Mainreasonforchange | |
| Operatingrevenue | 1,421,077,767.83 | 1,065,480,882.30 | 33.37% | Increaseinrevenuecarryforwardsinthepropertydevelopmentbusinessinthecurrentperiod |
| Costofsales | 611,694,943.80 | 599,675,528.78 | 2.00% | |
| Sellingexpense | 11,544,060.19 | 18,292,724.72 | -36.89% | Decreaseinsalesagentcommissionsinthecurrentperiod |
| Administrativeexpense | 88,433,004.35 | 83,229,296.11 | 6.25% | |
| Financecosts | 53,446,318.38 | 44,907,070.93 | 19.02% | Increaseininterestexpensesinthecurrentperiod |
| Incometaxexpense | 89,394,015.71 | 69,721,304.50 | 28.22% | Increaseinpre-taxprofitsinthecurrentperiod |
| R&Dinvestments | 0.00 | 0.00 | 0.00% | |
| Netcashgeneratedfrom/usedinoperatingactivities | -1,623,182,138.90 | -396,688,011.70 | 309.18% | Increaseintaxesandleviespaidinthecurrentperiod |
| Netcashgeneratedfrom/usedininvestingactivities | -482,080,259.37 | -12,317,146.50 | 3,813.90% | PaymentmadeinthecurrentperiodoftheremainingamountfortheacquisitionofequityinterestsinTKProperty |
| Netcashgeneratedfrom/usedinfinancingactivities | 1,874,915,831.86 | -422,514,720.04 | -543.75% | Newbankloaninthecurrentperiod |
| Netincreaseincashandcashequivalents | -229,275,462.50 | -831,305,621.99 | -72.42% | Newbankloaninthecurrentperiodwashigherthannetcashusedinoperatingandinvestingactivities |
MaterialchangestotheprofitstructureorsourcesoftheCompanyintheReportingPeriod:
□Applicable√Notapplicable
NosuchchangesintheReportingPeriod.Breakdownofoperatingrevenue:
Unit:RMB
| H12020 | H12019 | Change(%) | |||
| Operatingrevenue | As%oftotaloperatingrevenue(%) | Operatingrevenue | As%oftotaloperatingrevenue(%) | ||
| Total | 1,421,077,767.83 | 100% | 1,065,480,882.30 | 100% | 33.37% |
| Byoperatingdivision | |||||
| Propertydevelopment | 858,698,806.07 | 60.43% | 469,981,348.49 | 44.11% | 82.71% |
| Propertyrental | 71,395,976.18 | 5.02% | 102,141,182.76 | 9.59% | -30.10% |
| Propertymanagement | 490,591,863.98 | 34.52% | 481,058,893.51 | 45.15% | 1.98% |
| Cateringservice | 0.00 | 0.00% | 11,743,534.28 | 1.10% | -100.00% |
| Other | 391,121.60 | 0.03% | 555,923.26 | 0.05% | -29.64% |
| Byproductcategory | |||||
| Propertydevelopment | 858,698,806.07 | 60.43% | 469,981,348.49 | 44.11% | 82.71% |
| Propertyrental | 71,395,976.18 | 5.02% | 102,141,182.76 | 9.59% | -30.10% |
| Propertymanagement | 490,591,863.98 | 34.52% | 481,058,893.51 | 45.15% | 1.98% |
| Cateringservice | 0.00 | 0.00% | 11,743,534.28 | 1.10% | -100.00% |
| Other | 391,121.60 | 0.03% | 555,923.26 | 0.05% | -29.64% |
| Byoperatingsegment | |||||
| Shenzhen | 1,210,034,426.64 | 85.15% | 750,327,291.64 | 70.42% | 61.27% |
| Dongguan | 20,718,497.45 | 1.46% | 79,698,451.54 | 7.48% | -74.00% |
| Other | 190,324,843.74 | 13.39% | 235,455,139.12 | 22.10% | -19.17% |
OperatingDivision,ProductCategoryorOperatingSegmentContributingover10%ofOperatingRevenueorOperatingProfit
√Applicable□Notapplicable
Unit:RMB
| Operatingrevenue | Costofsales | Grossprofitmargin | YoYchangeinoperatingrevenue(%) | YoYchangeincostofsales(%) | YoYchangeingrossprofitmargin(%) | |
| Byoperatingdivision | ||||||
| Property | 858,698,806.07 | 149,832,210.40 | 82.55% | 82.71% | 6.16% | 12.58% |
| development | ||||||
| Propertymanagement | 490,591,863.98 | 418,332,897.35 | 14.73% | 1.98% | 1.47% | 0.43% |
| Byproductcategory | ||||||
| Propertydevelopment | 858,698,806.07 | 149,832,210.40 | 82.55% | 82.71% | 6.16% | 12.58% |
| Propertymanagement | 490,591,863.98 | 418,332,897.35 | 14.73% | 1.98% | 1.47% | 0.43% |
| Byoperatingsegment | ||||||
| Shenzhen | 1,210,034,426.64 | 420,258,676.95 | 65.27% | 61.27% | 18.81% | 12.41% |
CorebusinessdataoftheprioryearrestatedaccordingtothechangedstatisticalcaliberfortheReportingPeriod:
□Applicable√NotapplicableAnyover30%YoYmovementsinthedataaboveandwhy:
√Applicable□NotapplicableRevenuefromthepropertydevelopmentbusinessinthecurrentperiodmainlycomprisedRMB807millionfromtheGoldenCollar’sResortproject,RMB18millionfromtheBanshanYujingprojectandRMB17millionfromtheSonghuLangyuanproject,whilethatinthesameperiodoflastyearmainlycomprisedRMB312millionfromtheQianhaiGangwanproject,RMB77millionfromtheSonghuLangyuanprojectandRMB55millionfromtheHupanYujingproject.Theyear-on-yearmovementwasprimarilyattributabletotheconsiderableincreaseinrevenueandgrossprofitoftheGoldenCollar’sResortprojectinthecurrentperiod.
IIIAnalysisofNon-CoreBusinesses
√Applicable□Notapplicable
Unit:RMB
| Amount | As%oftotalprofit | Source/Reason | Exceptionalorrecurrent | |
| Returnoninvestment | 157,061.79 | 0.06% | Returnoninvestmentinjointventures | Recurrent |
| Gain/lossonchangesinfairvalue | 0.00 | 0.00% | ||
| Assetimpairments | 1,832.91 | 0.00% | Reversalofinventoryvaluationallowances | Exceptional |
| Non-operatingincome | 4,244,175.90 | 1.59% | Pandemic-relatedgovernmentgrant | Exceptional |
| Non-operatingexpense | 2,399,487.70 | 0.90% | DonationofRMB2millionforHubeiProvince | Exceptional |
| Creditimpairments | 1,115,927.46 | 0.42% | Reversalofallowancefordoubtfulaccount | Exceptional |
IVAnalysisofAssetsandLiabilities
1.SignificantChangesinAssetComposition
Unit:RMB
| 30June2020 | 30June2019 | Changeinpercentage(%) | Reasonforanysignificantchange | |||
| Amount | As%oftotalassets | Amount | As%oftotalassets | |||
| Monetaryassets | 3,078,941,673.62 | 28.12% | 3,297,890,935.91 | 30.61% | -2.49% | Large-amountpaymentsfortaxesandleviesandtheacquisitionofequityinvestments,aswellasnewbankloan,inthecurrentperiod |
| Accountsreceivable | 282,865,426.42 | 2.58% | 216,923,663.25 | 2.01% | 0.57% | Increaseinpropertymanagementfeesandrentsreceivable |
| Inventories | 5,369,131,564.81 | 49.04% | 4,913,510,876.66 | 45.61% | 3.43% | Increaseinexpenditureonprojectsunderconstruction |
| Investmentproperty | 488,451,134.18 | 4.46% | 503,323,428.61 | 4.67% | -0.21% | |
| Long-termequityinvestments | 45,233,184.51 | 0.41% | 45,076,122.72 | 0.42% | -0.01% | |
| Fixedassets | 89,296,825.77 | 0.82% | 93,557,782.83 | 0.87% | -0.05% | |
| Constructioninprogress | 0.00% | 0.00 | 0.00% | 0.00% | ||
| Short-termborrowings | 0.00% | 0.00 | 0.00% | 0.00% | ||
| Long-termborrowings | 3,615,800,000.00 | 33.02% | 2,193,833,000.00 | 20.37% | 12.65% | Newbankloan |
| Otherreceivables | 800,159,718.50 | 7.31% | 917,981,165.74 | 8.52% | -1.21% | ReceiptofloanrepaymentbyXinhaiHolding |
| Deferredincometaxassets | 666,441,069.33 | 6.09% | 658,153,122.73 | 6.11% | -0.02% | |
| Othernon-currentassets | 18,722,496.18 | 0.17% | 42,500,585.94 | 0.39% | -0.22% | |
| Accountspayable | 536,237,338.50 | 4.90% | 577,689,139.10 | 5.36% | -0.46% | |
| Contractliabilities | 480,801,605.00 | 4.39% | 694,213,671.69 | 6.44% | -2.05% | Decreaseinthebalanceofadvancesfromcommercialhousingbuyersinthecurrentperiod |
| Othernon-current | 111,632,315.06 | 1.02% | 108,164,737.46 | 1.00% | 0.02% | |
2.AssetsandLiabilitiesatFairValue
√Applicable□Notapplicable
Unit:RMB
liabilities
Item
| Item | Beginningamount | Gain/lossonfair-valuechangesintheReportingPeriod | Cumulativefair-valuechangeschargedtoequity | ImpairmentallowancefortheReportingPeriod | PurchasedintheReportingPeriod | SoldintheReportingPeriod | Otherchanges | Endingamount |
| Financialassets | ||||||||
| 4.Investmentsinotherequityinstruments | 1,580,475.86 | -445,672.73 | 1,134,803.13 | |||||
| Subtotaloffinancialassets | 1,580,475.86 | -445,672.73 | 1,134,803.13 | |||||
| Totaloftheabove | 1,580,475.86 | -445,672.73 | 1,134,803.13 | |||||
| Financialliabilities | 0.00 | 0.00 |
Contentsofotherchanges:
SignificantchangestothemeasurementattributesofthemajorassetsintheReportingPeriod:
□Yes√No
3.RestrictedAssetRightsasatthePeriod-End
①Oftheendingmonetaryassetswithrestricteduserights,therewereafrozenamountofRMB11,018.00ofsubsidiaryShenzhenHuazhengpengPropertyManagementDevelopmentCo.,Ltd.andafrozenamountofRMB7,063,237.32ofsubsidiaryShenzhenTaixinliPropertyManagementCo.,Ltd.InformationabouttherelatedlawsuitscanbefoundinNoteXI,(II),1.
②Oftheendingmonetaryassetswithrestricteduserights,therewasadepositofRMB49,020.00paidbysubsidiaryShenzhenShenlvParkTechnologyIndustrialCo.,Ltd.forthePerformanceBondNo.20190531SLYLenteredintowithShenzhenAdministrativeOfficeofGreeningon31May2019.
③Oftheendingmonetaryassetswithrestricteduserights,thereweresecuritydepositsinthetotalamountofRMB1,120,910.60paidbytheCompanyforitsguaranteesforitscommercialhousingbuyersontheirmortgageloans,whichisausualpracticeforarealestatedeveloper.Forfurtherinformation,seeNoteXI,(II),2.
④Oftheendingmonetaryassetswithrestricteduserights,therewasinterestofRMB14,627,716.73accruedattheendoftheReportingPeriodonunduetermdeposits.
VInvestmentsMade
1.TotalInvestmentAmount
□Applicable√Notapplicable
2.MajorEquityInvestmentsMadeintheReportingPeriod
□Applicable√Notapplicable
3.MajorNon-EquityInvestmentsOngoingintheReportingPeriod
□Applicable√Notapplicable
4.FinancialAssetsatFairValue
√Applicable□Notapplicable
Unit:RMB
| Typeofassets | Initialinvestmentcost | Gain/lossonfairvaluechangesintheReportingPeriod | Accumulatedfairvaluechangesrecordedinequity | PurchasedintheReportingPeriod | SoldintheReportingPeriod | Accumulatedreturnoninvestment | Endingamount | Fundingsource |
| Stock | 3,565,856.06 | 0.00 | -2,506,414.40 | 0.00 | 0.00 | 0.00 | 1,134,803.13 | ObtainedinGintian’sdebtrestructuring |
| Total | 3,565,856.06 | 0.00 | -2,506,414.40 | 0.00 | 0.00 | 0.00 | 1,134,803.13 | -- |
5.FinancialInvestments
(1)SecuritiesInvestments
√Applicable□Notapplicable
| Varietyofsecurity | Codeofsecurity | Nameofsecurity | Initialinvestmentcost | Accountingmeasurementmethod | Beginningcarryingvalue | Gain/LossonfairvaluechangesinReportingPeriod | Accumulatedfairvaluechangeschargedtoequity | PurchasedinReportingPeriod | SoldinReportingPeriod | Gain/lossinReportingPeriod | Endingcarryingvalue | Accountingtitle | Sourceofinvestmentfunds |
| Domestic/Foreig | 400016,420016 | GintianA, | 3,565,856.06 | Fairvalue | 1,580,475.86 | 0.00 | -455,146.16 | 0.00 | 0.00 | 9,473.43 | 1,134,803.13 | Investmentsin | Obtainedin |
| nstock | GintianB | method | otherequityinstruments | Gintian’sdebtrestructuring | |||||||||
| Total | 3,565,856.06 | -- | 1,580,475.86 | 0.00 | -455,146.16 | 0.00 | 0.00 | 9,473.43 | 1,134,803.13 | -- | -- | ||
| DisclosuredateofannouncementonBoard’sconsentforsecuritiesinvestment | |||||||||||||
| Disclosuredateofannouncementonshareholders’meeting’sconsentforsecuritiesinvestment(ifany) | |||||||||||||
(2)InvestmentsinDerivativeFinancialInstruments
□Applicable√NotapplicableNosuchcasesintheReportingPeriod.VISaleofMajorAssetsandEquityInterests
1.SaleofMajorAssets
□Applicable√NotapplicableNosuchcasesintheReportingPeriod.
2.SaleofMajorEquityInterests
□Applicable√Notapplicable
VIIPrincipalSubsidiariesandJointStockCompanies
√Applicable□NotapplicablePrincipalsubsidiariesandjointstockcompanieswithanover10%effectontheCompany’snetprofit
Unit:RMB
| Name | RelationshipwiththeCompany | Principalactivity | Registeredcapital | Totalassets | Netassets | Operatingrevenue | Operatingprofit | Netprofit |
| Shenzhen | Subsidiar | Developm | 30,000,000 | 3,489,486,931.64 | 979,519,880.90 | 815,784,404.85 | 294,541,333.06 | 218,896,993.87 |
| HuangchengRealEstateCo.,Ltd. | y | entandsalesofrealestate | ||||||
| ShenzhenToukongPropertyManagementCo.,Ltd. | Subsidiary | Propertymanagementandhouselease | 30,000,000 | 1,167,762,461.26 | 352,671,180.92 | 284,897,369.58 | 39,466,267.84 | 33,515,150.56 |
| ShenzhenRongyaoRealEstateDevelopmentCo.,Ltd. | Subsidiary | Developmentandsalesofrealestate | 10,000,000 | 4,478,344,494.68 | 338,607,271.31 | 0.00 | -143,680,957.17 | -107,760,717.87 |
SubsidiariesobtainedordisposedintheReportingPeriod
□Applicable√Notapplicable
VIIIStructuredBodiesControlledbytheCompany
√Applicable□NotapplicableFordetails,seeIX1.EquityinterestsinsubsidiariesinPartXIFinancialReportherein.
IXOperatingPerformanceForecastforJanuary-September2020WarningofaforecastnegativenetprofitfortheJanuary-SeptemberperiodofthecurrentyearoraconsiderableYoYchangetherein,aswellasthereasons:
□Applicable√NotapplicableXRisksFacingtheCompanyandCountermeasures
1.Market-relatedRisksAffectedbyCOVID-19inthefirsthalfyearof2020,Chinaexperiencedadropinthegrowthofitseconomicdevelopmentwithadeclineinconsumptiondemands.TheCompanyfacedbothopportunitiesandchallengesinitsoperations.Orientedbypoliciessuchas“sixstabilitiesandsixguarantees”,housingpurchaserestrictionandloanrestriction,andtheconsistent“Housesareforlivingin,notforspeculatingon”,therealestatemarketwitnessedadownturnindemand,andthecentralgovernmentcontinuedtoexertstrictfinancialregulationoverthemarket.Affectedbythepandemic,therewasadropinthevisitsfortheCompany’sprojectsavailableforsaleinthefirsthalfyear;someprojectsinprogresswerebehindtheschedule;thecollectionrateofpropertymanagementfeeswaslow;pressurewasseenfromthedownwardtrendofmajorrevenue,includingsalesandrentals.Themarketenvironmentwasverycomplicated.Againsttheseveresituation,theCompanyhasmadegreatefforttoprobedeeplyintovariousopportunitiesandchallengesposedby
themacro-economictrendandpolicies,positivelyrealizeastrategicbreakthroughandfurtherdefinethedevelopmentvisionof“China’sFirstSmartTechnologyParkEcologicalChainOperatorTopingtheWorld”inordertofollowthesignificanttrendoftherealestatemarketevolvingfromtheageofincrementtotheageofstockandfirmlyhangontothecorelinkofstockassetsvaluemanagementandindustrialecologicaloperationservice.Inaddition,whilestrengtheningthetraditionalmainstreambusiness,theCompanywillalsoexpanditspropertybusinessandacceleratethelayoutofhouserentingbusinessaswellasimplementdiversifieddevelopmentstrategysoastogainvariousopportunitiesforitsfuturesustainabledevelopment.
2.LandReserveRiskAsamatteroffact,theCompanystilllacksenoughlandreservesanddevelopmentpoweratlaterstages.Inrecentyears,thesupplyofresidentiallandonShenzhenMarkethascontinuouslydeclined.Asthepriceofeachsingleplotincreasesyearafteryear,variouslarge-scalerealestateenterpriseshaveenlargedtheirmarketsharesandacceleratedtheirM&Apace.Whiletherealestateindustryiscentralizing,thedegreeofcentralizationofthelandreservescalehasalsobeenenhanced.Astheexternalenvironmentandtheindustry’strendbecomemuchmorecomplicatedandsevere,theincrementmarketscalewillfurthershrinkandthemarketcompetitionwillbecomeincreasinglyfierce.Facingthechallengesbroughtbythefinedregulatorypolicies,industrialcompetitionofagreaterintensity,andinsufficientresourcesofitself,theCompanywillcontinuetodeepenitsinternalreforms,beefupmarketoperations,taponeffectivebusinessdevelopmodelsandinternalmanagementmeasures,andexpandexternalcooperationindiverseforms.Itwillcloselyfollowcityrenewalpoliciesandurbandevelopmentplanning,seizetheopportunityofmorelandsupplybroughtbyShenzheneightrealestatemarketregulationmeasures,andobtainmorelandthroughacombinationoflandpurchasepolicies,includingthetraditionalmodeoflandlistingandauction,collaboration,acquisitionandstrategies.
3.FinancingRiskWhilethefinancialregulationpolicyremainedstableinthefirsthalfyearof2020,itisnotlikelytogettighterorconsiderablymorerelaxedinfuture.ButduetothedisturbancetomacroeconomycausedbyCOVID-19,businesseswillcontinuetofaceatoughfinancingenvironment.Currently,variousmeansoffinancinghavebeenunderstrictsupervision,includingthebankloan,trust,bondandprivateequityetc.Variousrealestatefinancingpoliciesarestillstringent.Intheprocessofactivelyincreasinglandreservesandacceleratingthebusinessdevelopment,theCompanyneedstoinvestalargeamountoffundsforlandacquisitionandprojectdevelopment.Inadditiontoitsownfunds,theCompany’sprojectdevelopmentfundsneedtobeexternallyfinancedthroughbankloansandissuingsecurities.Ifthecountry’smacroeconomicsituation,creditpolicyandcapitalmarketundergoultra-expectedmajorchangesoradjustments,itmayleadtorestrictionsontheCompany’sfinancingortheCompany’sfinancingcosts,whichwilladverselyaffecttheCompany’sproductionandoperation.Currently,theCompanyhassteadyfinancialsituation,sufficientcashflowandgoodcreditcondition,andwillfurtherstrictlycontrolfinancialrisks,activelyexplorevariousfinancingchannelssoastoraisefundsforprojectdevelopmentinthefuture.
PartVSignificantEvents
IAnnualandExtraordinaryGeneralMeetingConvenedduringtheReportingPeriod
1.GeneralMeetingsConvenedduringtheReportingPeriod
| Meeting | Type | Investorparticipationratio | Conveneddate | Disclosuredate | Indextodisclosedinformation |
| The1stExtraordinaryGeneralMeetingof2020 | Extraordinarygeneralmeeting | 63.90% | 15January2020 | 16January2020 | NoticeaboutConveningthe1stExtraordinaryGeneralMeetingof2020(No.2019-55)disclosedonwww.cninfo.com.cn |
| The2019AnnualGeneralMeeting | AnnualGeneralMeeting | 63.90% | 28April2020 | 29April2020 | NoticeaboutConveningthe2019AnnualGeneralMeeting(No.2020-17)disclosedonwww.cninfo.com.cn |
2.ExtraordinaryGeneralMeetingsConvenedattheRequestofPreferenceShareholderswithResumedVotingRights
□Applicable√Notapplicable
IIInterimDividendPlan
□Applicable√NotapplicableTheCompanyhasnointerimdividendplan,eitherintheformofcashorstock.IIICommitmentsoftheCompany’sDeFactoController,Shareholders,RelatedPartiesandAcquirers,aswellastheCompanyItselfandOtherEntitiesFulfilledintheReportingPeriodorOngoingatthePeriod-End
□Applicable√NotapplicableNosuchcasesintheReportingPeriod.
IVEngagementandDisengagementofIndependentAuditor
Aretheinterimfinancialstatementsaudited?
□Yes√NoThisInterimReportisunaudited.VExplanationsGivenbytheBoardofDirectorsandtheSupervisoryCommitteeRegardingtheIndependentAuditor's“ModifiedOpinion”ontheFinancialStatementsoftheReportingPeriod
□Applicable√NotapplicableVIExplanationsGivenbytheBoardofDirectorsRegardingtheIndependentAuditor's“ModifiedOpinion”ontheFinancialStatementsofLastYear
□Applicable√Notapplicable
VIIInsolvencyandReorganization
□Applicable√NotapplicableNosuchcasesintheReportingPeriod.VIIILegalMattersSignificantlawsuitsandarbitrations:
√Applicable□Notapplicable
| Generalinformation | Involvedamount(RMB’0,000) | Provision | Progress | Decisionsandeffects | Executionofdecisions | Disclosuredate | Indextodisclosedinformation |
| LitigationmattersindisputesoverenvironmentalpollutionliabilityofFuchangBuildingII | 815.4 | None | SeePartXIFinancialReport-XIV-2 | SeePartXIFinancialReport-XIV-2 | SeePartXIFinancialReport-XIV-2 |
Otherlegalmatters:
√Applicable□Notapplicable
| Generalinformation | Involvedamount(RMB’0,000) | Provision | Progress | Decisionsandeffects | Executionofdecisions | Disclosuredate | Indextodisclosedinformation |
| Summaryofothercontractdisputes | 840.62 | Yes | SeePartXIFinancial | SeePartXIFinancial | SeePartXIFinancial |
| Report-XIV-2 | Report-XIV-2 | Report-XIV-2 |
IXDoubtsfromMedia
□Applicable√NotapplicableTheCompanyhadnoissuesaboutwhichmediagenerallyraiseddoubtsintheReportingPeriod.XPunishmentsandRectifications
□Applicable√NotapplicableNosuchcasesintheReportingPeriod.XICreditQualityoftheCompanyaswellasitsControllingShareholderandDeFactoController
□Applicable√Notapplicable
XIIEquityIncentivePlans,EmployeeStockOwnershipPlansorOtherIncentiveMeasuresforEmployees
□Applicable√NotapplicableNosuchcasesintheReportingPeriod.XIIIMajorRelated-PartyTransactions
1.ContinuingRelated-PartyTransactions
√Applicable□Notapplicable
| Relatedparty | RelationshipwiththeCompany | Typeoftransaction | Specifictransaction | Pricingprinciple | Transactionprice | Totalvalue(RMB’0,000) | As%oftotalvalueofallsame-typetransactions | Approvedtransactionline(RMB’0,000) | Overtheapprovedlineornot | Methodofsettlement | Obtainablemarketpriceforsame-typetransactions | Disclosuredate | Indextodisclosedinformation |
| ShenzhenBayTechnologyDevelopment | Wholly-ownedsubsidiaryoftheCompanyasthe | Related-partytransactionsgoverningsales | Propertymanagementservices | Marketprinciple | Agreementprice | 1,895.81 | 3.86% | 4,908 | N/A | Cash | 1,895.81 | 18March2020 | AnnouncementonEstimatedContin |
| Co.,Ltd. | parent | ofcommodityandprovidingoflabors | uingRelated-partyTransactionsin2020(No.2020-11)disclosedonwww.cninfo.com.cn | ||||||||||
| ShenzhenHi-TechZoneDevelopmentConstructionCompany | Wholly-ownedsubsidiaryofShenzhenBayTechnologyDevelopmentCo.,Ltd. | Related-partytransactionsgoverningsalesofcommodityandprovidingoflabors | Propertymanagementservices | Marketprinciple | 协议价 | 66.95 | 0.13% | 142 | N/A | Cash | 66.95 | ||
| ShenzhenBayAreaUrbanConstructionandDevelopmentCo.,Ltd. | Wholly-ownedsubsidiaryoftheCompanyastheparent | Related-partytransactionsgoverningsalesofcommodityandprovidingoflabors | Propertymanagementservices | Marketprinciple | Agreementprice | 71.37 | 0.14% | - | - | Cash | 71.37 | ||
| ShenzhenBayTechnologyDevelopmentCo.,Ltd. | Wholly-ownedsubsidiaryoftheCompanyastheparent | Related-partytransactionsgoverningpurchaseofcommodityandprovidingoflabors | Propertymanagementservices | Marketprinciple | Agreementprice | 3,345.85 | 7.99% | - | - | Cash | 3345.85 |
| ShenzhenShentouRealEstateDevelopmentCo.,Ltd. | Wholly-ownedsubsidiaryoftheCompanyastheparent | Lease | Office | Marketprinciple | Agreementprice | 19.03 | 0.01% | 38 | N/A | Cash | 19.03 | ||
| ShenzhenShentouRealEstateDevelopmentCo.,Ltd. | Wholly-ownedsubsidiaryoftheCompanyastheparent | Investmentproperty | Entrustedmanagementservicesofhouses | Marketprinciple | Agreementprice | 1,956.64 | 27.40% | 6,080 | N/A | Cash | 1956.64 | ||
| Total | -- | -- | 7,355.65 | -- | 11,168 | -- | -- | -- | -- | -- | |||
| Large-amountsalesreturnindetail | N/A | ||||||||||||
| GivetheactualsituationintheReportingPeriod(ifany)whereanestimatehadbeenmadeforthetotalvalueofcontinuingrelated-partytransactionsbytypetooccurintheReportingPeriod(ifany) | Thetotalactualamountofcontinuingrelated-partytransactionsoftheCompanyforH12020doesnotexceedtheestimatedtotalamount. | ||||||||||||
| Reasonforanysignificantdifferencebetweenthetransactionpriceandthemarketreferenceprice(ifapplicable) | N/A | ||||||||||||
2.Related-PartyTransactionsRegardingPurchaseorDisposalofAssetsorEquityInvestments
□Applicable√NotapplicableNosuchcasesintheReportingPeriod.
3.Related-PartyTransactionsRegardingJointInvestmentsinThirdParties
□Applicable√NotapplicableNosuchcasesintheReportingPeriod.
4.CreditsandLiabilitieswithRelatedParties
√Applicable□NotapplicableIndicatebytickmarkwhethertherewereanycreditsandliabilitieswithrelatedpartiesfornon-operatingpurposes.
√Yes□NoReceivablefromrelatedparties
| Relatedparty | RelationshipwiththeCompany | Reason | Capitaloccupationfornon-operatingpurposes(yes/no) | Beginningbalance(RMB’0,000) | Amountnewlyaddedincurrentperiod(RMB’0,000) | Amountreceivedincurrentperiod(RMB’0,000) | Interestrate | Currentinterest(RMB’0,000) | Endingbalance(RMB’0,000) |
| ShenzhenXinhaiHoldingsCo.,Ltd. | TheparentcompanyofthesubsidiaryRongyaoRealEstate’sminorityshareholderXinhaiRongyao | Businesscirculatingfundsbeforeacquisition | No | 55,150 | 15,000 | 40,150 | |||
| ShenzhenXinhaiRongyaoRealEstateDevelopmentCo.,Ltd. | MinorityshareholderofthesubsidiaryRongyaoRealEstate | Businesscirculatingfundsbeforeacquisition | No | 33,047.29 | 33,047.29 | ||||
| InfluenceontheCompany’soperatingresultsandfinancialcondition | AllwerewithintheriskscontroloftheCompanyandnotinfluencedtheoperatingresultsandthefinancialconditions. | ||||||||
Liabilitiespayabletorelatedparties
| Relatedparty | RelationwiththeCompany | Formationreason | Beginningbalance(RMB’0,000) | Amountnewlyaddedincurrentperiod(RMB’0,000) | Amountreturnedincurrentperiod(RMB’0,000) | Interestrate | Currentinterest(RMB’0,000) | Endingbalance(RMB’0,000) |
| ShenzhenJifaWarehouseCo.,Ltd. | Jointventure | Intercoursefunds | 3,579.67 | 3,579.67 | ||||
| ShenzhenTian’anInternationalBuildingPropertyManagement | Jointventure | Intercoursefunds | 521.43 | 521.43 |
| Co.,Ltd. | ||
| InfluenceontheCompany’soperatingresultsandfinancialcondition | AllwerewithintheriskscontroloftheCompanyandnotinfluencedtheoperatingresultsandthefinancialconditions. | |
5.OtherMajorRelated-PartyTransactions
□Applicable√NotapplicableNosuchcasesintheReportingPeriod.XIVOccupationoftheCompany’sCapitalbytheControllingShareholderoranyofItsRelatedPartiesforNon-OperatingPurposes
□Applicable√NotapplicableNosuchcasesintheReportingPeriod.
XVMajorContractsandExecutionthereof
1.Entrustment,ContractingandLeases
(1)Entrustment
√Applicable□Notapplicable
1)TheCompanysignedtheAgreementforEngagementinAssistedManagementwithitscontrollingshareholderShenzhenInvestmentHoldingsCo.,Ltd.(SIHC)on1March2020.AccordingtotheAgreement,theCompanywasappointedtoexerciseassistedmanagementoverChinaShenzhenForeignTrade(Group)Co.,Ltd.,awholly-ownedsubsidiaryofSIHC.Theassistedmanagementperiodwouldbesixmonths,from1March2020,thesignatureandeffectivedateoftheAgreement,till31August2020.SIHCwouldpayafeeofRMB2milliontotheCompany.Forthespecificcontent,pleaserefertotheCompany’sVoluntaryInformationDisclosureAnnouncementontheAgreementforEngagementinAssistedManagementSignedwiththeControllingShareholder,No.2020-5,disclosedonhttp://www.cninfo.com.cnon3March2020.
2)On6November2019,ShenzhenInvestmentHoldingssignedEquityTransferContractofTKPropertywithourparty,ourpartyplanstopurchase100%equityofTKPropertyheldbyShenzhenInvestmentHolding.RegardingtohistoricalproblemsleftinpartlandandpropertiesofTKPropertyandthecomplexityforhandling,ShenzhenInvestmentHoldingsandTKPropertysignedEntrustedOperationandManagementAgreementofStrippedLandandAssetsofTKPropertywithTKProperty,ShenzhenInvestmentHoldings,TKPropertyandourpartyallconfirmedthatitistheconsensusofthreepartiesto“entrustlandandpropertieswhichisstrippedtoShenzhenInvestmentHoldingsinlandandpropertydisposalsolutionofTKPropertytoTKPropertyforoperationandmanagementagainbeforeownershipconfirmationandbeingtransferredtoSZPRDaccordingtopriceevaluationagreement.RefertoReferenceNo.:2019-33announcement-AnnouncementonPurchasing100%EquityandRelatedTransactionsofTKPropertydisclosedbycninfoon21September2019fordetails.ProjectswhoseprofitsandlossesfortheCompanyreachedmorethan10%ofthetotalprofitsduringtheReportingPeriod:
□Applicable√NotapplicableNosuchcasesintheReportingPeriod.
(2)Contracting
□Applicable√Notapplicable
(3)Leases
□Applicable√Notapplicable
2.Majorguarantees
√Applicable□Notapplicable
(1)Guarantees
Unit:RMB'0,000
| GuaranteesprovidedbytheCompanyastheparentanditssubsidiariesforexternalparties(exclusiveofthoseforsubsidiaries) | ||||||||
| Obligor | Disclosuredateoftheguaranteelineannouncement | Lineofguarantee | Actualoccurrencedate | Actualguaranteeamount | Typeofguarantee | Termofguarantee | Havingexpiredornot | Guaranteeforarelatedpartyornot |
| GuaranteesprovidedbytheCompanyforitssubsidiaries | ||||||||
| Obligor | Disclosuredateoftheguaranteelineannouncement | Lineofguarantee | Actualoccurrencedate | Actualguaranteeamount | Typeofguarantee | Termofguarantee | Havingexpiredornot | Guaranteeforarelatedpartyornot |
| ShenzhenRongyaoRealEstateDevelopmentCo.,Ltd. | 18October2019 | 500,000 | 27November2019 | 299,990 | Joint-liability | 27November2019to20November2024 | No | Yes |
| ShenzhenHuangchengRealEstateCo.,Ltd. | 29March2018 | 75,000 | 20July2018 | 74,900 | Generalguaranty | 20July2018to20June2021 | No | Yes |
| TotalapprovedlineforsuchguaranteesintheReportingPeriod(B1) | 0 | TotalactualamountofsuchguaranteesintheReportingPeriod(B2) | 155,600 | |||||
| TotalapprovedlineforsuchguaranteesattheendoftheReportingPeriod(B3) | 575,000 | TotalactualbalanceofsuchguaranteesattheendoftheReportingPeriod(B4) | 374,890 | |||||
| Guaranteesprovidedbetweensubsidiaries | ||||||||
| Obligor | Disclosuredateoftheguaranteelineannouncement | Lineofguarantee | Actualoccurrencedate | Actualguaranteeamount | Typeofguarantee | Termofguarantee | Havingexpiredornot | Guaranteeforarelatedpartyornot |
| Totalguaranteeamount(totalofthethreekindsofguaranteesabove) | ||||||||
| TotalguaranteelineapprovedintheReportingPeriod(A1+B1+C1) | TotalactualguaranteeamountintheReportingPeriod(A2+B2+C2) | 155,600 | ||||||
| TotalapprovedguaranteelineattheendoftheReportingPeriod(A3+B3+C3) | 575,000 | TotalactualguaranteebalanceattheendoftheReportingPeriod(A4+B4+C4) | 374,890 | |||||
| Totalactualguaranteeamount(A4+B4+C4)as%oftheCompany’snetassets | 119.17% | |||||||
| Ofwhich: | ||||||||
| Balanceofguaranteesprovidedforshareholders,actualcontrollerandtheirrelatedparties(D) | 0 | |||||||
| Balanceofdebtguaranteesprovideddirectlyorindirectlyforobligorswithanover70%debt/assetratio(E) | 374,890 | |||||||
| Amountbywhichthetotalguaranteeamountexceeds50%oftheCompany’snetassets(F) | 213,325 | |||||||
| Totalofthethreeamountsabove(D+E+F) | 374,890 | |||||||
Compoundguarantees:
(2)IrregularitiesinProvisionofGuarantees
□Applicable√NotapplicableNosuchcasesintheReportingPeriod.
3.CashEntrustedforWealthManagement
□Applicable√NotapplicableNosuchcasesintheReportingPeriod.
4.OtherSignificantContracts
□Applicable√NotapplicableNosuchcasesintheReportingPeriod.
XVICorporateSocialResponsibility(CSR)
1.MajorEnvironmentalIssues
IndicatebytickmarkwhethertheCompanyoranyofitssubsidiariesisaheavilypollutingbusinessidentifiedbytheenvironmentalprotectionauthoritiesofChinaNoTheCompanywasnottheheavilypollutingbusinessidentifiedbytheenvironmentalprotectionauthoritiesofChina.
2.MeasuresTakenforTargetedPovertyAlleviationTheCompanydidnottakeanytargetedmeasurestohelppeopleliftthemselvesoutofpovertyduringtheReportingPeriod,alsonosubsequentplans.XVIIOtherSignificantEvents
□Applicable√NotapplicableXVIIISignificantEventsofSubsidiaries
□Applicable√Notapplicable
PartVIShareChangesandShareholderInformation
IShareChanges
1.ShareChanges
Unit:share
| Before | Increase/decreaseintheReportingPeriod(+/-) | After | |||||||
| Shares | Percentage(%) | Newissues | Sharesasdividendconvertedfromprofit | Sharesasdividendconvertedfromcapitalreserves | Other | Subtotal | Shares | Percentage(%) | |
| I.Restrictedshares | 1,931,280 | 0.33% | 0 | 0 | 0 | -32,974 | -32,974 | 1,898,306 | 0.32% |
| 1.SharesheldbyState | 0 | 0.00% | 0 | 0 | 0 | 0 | 0 | 0 | 0.00% |
| 2.Sharesheldbystate-ownedlegalperson | 0 | 0.00% | 0 | 0 | 0 | 3,326 | 3,326 | 3,326 | 0.00% |
| 3.Sharesheldbyotherdomesticinvestors | 1,931,280 | 0.33% | 0 | 0 | 0 | -36,300 | -36,300 | 1,894,980 | 0.32% |
| Amongwhich:Sharesheldbydomesticlegalperson | 1,894,980 | 0.32% | 0 | 0 | 0 | 0 | 0 | 1,894,980 | 0.32% |
| Sharesheldbydomesticnaturalperson | 36,300 | 0.01% | 0 | 0 | 0 | -36,300 | -36,300 | 0 | 0.00% |
| 4.Sharesheldbyforeigninvestors | 0 | 0.00% | 0 | 0 | 0 | 0 | 0 | 0 | 0.00% |
| Amongwhich:Sharesheldbyforeignlegalperson | 0 | 0.00% | 0 | 0 | 0 | 0 | 0 | 0 | 0.00% |
| Sharesheldbyforeignnaturalperson | 0 | 0.00% | 0 | 0 | 0 | 0 | 0 | 0 | 0.00% |
| II.Unrestrictedshares | 594,047,812 | 99.67% | 0 | 0 | 0 | 32,974 | 32,974 | 594,080,786 | 99.68% |
| 1.RMBcommonshares | 526,442,569 | 88.33% | 0 | 0 | 0 | 32,974 | 32,974 | 526,475,543 | 88.34% |
| 2.Domesticallylistedforeignshares | 67,605,243 | 11.34% | 0 | 0 | 0 | 0 | 0 | 67,605,243 | 11.34% |
| 3.Overseaslistedforeignshares | 0 | 0.00% | 0 | 0 | 0 | 0 | 0 | 0 | 0.00% |
| 4.Others | 0 | 0.00% | 0 | 0 | 0 | 0 | 0 | 0 | 0.00% |
| III.Totalshares | 595,979,092 | 100.00% | 0 | 0 | 0 | 0 | 0 | 595,979,092 | 100.00% |
Reasonsforsharechanges:
√Applicable□NotapplicableOn16January2020,theshareholderwithrestrictedpublicsharesoftheCompanyHanYihuarepaidtheadvancedsharesforsharereformof3,326totheCompany’scontrollingshareholderShenzhenInvestmentHoldingsandtransferredtheshareownershiptothelatter.On30April2020,all32,974restrictedsharesheldbyHanYihuaweredesterilizedandofficiallycirculatedinthemarket.Approvalofsharechanges:
√Applicable□NotapplicableAbove-mentioneddesterilizationofnon-tradableshareshasbeenapprovedbyShenzhenStockExchangeandcompletedthechangeregistrationinShenzhenBranchofChinaSecuritiesDepositoryandClearingCorporationLimited.Transferofshareownership:
√Applicable□NotapplicableThetransferofshareownershipforrepaymentofabove-mentionedadvancedsharesforsharereformhasbeencompletedon16January2020.Progressonanysharerepurchases:
□Applicable√NotapplicableProgressonreducingtherepurchasedsharesbymeansofcentralizedbidding:
□Applicable√NotapplicableEffectsofsharechangesonthebasicanddilutedearningspershare,equitypershareattributabletotheCompany’sordinaryshareholdersandotherfinancialindicatorsoftheprioryearandtheprioraccountingperiod,respectively:
□Applicable√NotapplicableOtherinformationthattheCompanyconsidersnecessaryorisrequiredbythesecuritiesregulatortobedisclosed:
□Applicable√Notapplicable
2.ChangesinRestrictedShares
√Applicable□Notapplicable
Unit:share
| Nameofshareholders | Numberofrestrictedsharesattheperiod-begin | Numberofreleasedrestrictedshares | Numberofincreasedrestrictedshares | Numberofrestrictedsharesattheperiod-end | Reasonforrestriction | Dateofrestrictionrelease |
| HanYihua | 36,300 | 32,974 | 0 | 0 | Sharereformcommitments | 30April2020 |
| ShenzhenInvestmentHoldingsCo.,Ltd. | 0 | 0 | 3,326 | 3,326 | repaymentofadvancedsharesforsharereform |
| Total | 36,300 | 32,974 | 3,326 | 3,326 | -- | -- |
IIIssuanceandListingofSecurities
□Applicable√Notapplicable
IIIShareholdersandTheirHoldingsasatthePeriod-End
Unit:share
| Totalnumberofordinaryshareholdersattheperiod-end | 42,099 | Totalnumberofpreferenceshareholderswithresumedvotingrightsattheperiod-end(ifany)(seenote8) | 0 | |||||||
| 5%orgreaterordinaryshareholdersorthetop10ordinaryshareholders | ||||||||||
| Nameofshareholder | Natureofshareholder | Shareholdingpercentage(%) | Totalsharesheldattheperiod-end | Increase/decreaseduringtheReportingPeriod | Numberofrestrictedsharesheld | Numberofnon-restrictedsharesheld | Pledgedorfrozenshares | |||
| Status | Number | |||||||||
| ShenzhenInvestmentHoldingsCorporation | State-ownedlegalperson | 57.96% | 345,412,223 | -34,966,674 | 3,326 | 345,408,897 | ||||
| ChinaOrientAssetManagementCo.,Ltd. | State-ownedlegalperson | 5.87% | 34,970,000 | 34,970,000 | 0 | 34,970,000 | ||||
| ICBC-FullgoalGrowthSelectedOpen-EndDynamicAssetAllocationMixedTypeSecuritiesFundwithAFixedPeriodof3Years | Other | 0.62% | 3,682,638 | 3,682,638 | 0 | 3,682,638 | ||||
| ICBC-HuaAnMid-capandSmall-capGrowthMixed | Other | 0.41% | 2,458,951 | 2,458,951 | 0 | 2,458,951 | ||||
| TypeSecuritiesInvestmentFund | |||||||||
| DuanShaoteng | Domesticnaturalperson | 0.30% | 1,777,555 | 709,855 | 0 | 1,777,555 | |||
| ShenzhenDuty-FreeCommodityEnterprisesCo.,Ltd. | Domesticnon-state-ownedlegalperson | 0.29% | 1,730,300 | 0 | 1,730,300 | 0 | |||
| IndustrialBankCo.,Ltd.-ICBCCreditSuisseFinancialRealEstateIndustryMixedTypeSecuritiesInvestmentFund | Other | 0.24% | 1,439,900 | 1,439,900 | 0 | 1,439,900 | |||
| YangYaochu | Domesticnaturalperson | 0.24% | 1,425,020 | 0 | 0 | 1,425,020 | |||
| NationalSocialSecurityFund504Portfolio | Other | 0.22% | 1,308,200 | 1,308,200 | 0 | 1,308,200 | |||
| MaiFurong | Domesticnaturalperson | 0.20% | 1,221,500 | 40,000 | 0 | 1,221,500 | |||
| Strategicinvestororgenerallegalpersonbecomingatop-10ordinaryshareholderduetorightsissue(ifany)(seenote3) | N/A | ||||||||
| Relatedoracting-in-concertpartiesamongtheshareholdersabove | ThelargestshareholderShenzhenInvestmentHoldingCorporationistheactualcontrollingshareholderoftheCompany.AndtheCompanydoesnotknowwhethertherearerelatedpartiesoracting-in-concertpartiesamongtheother9shareholders. | ||||||||
| Top10unrestrictedshareholders | |||||||||
| Nameofshareholder | Unrestrictedsharesheldattheperiod-end | Sharesbytype | |||||||
| Type | Shares | ||||||||
| ShenzhenInvestmentHoldingsCorporation | 345,408,897 | RMBcommonshare | 345,408,897 | ||||||
| ChinaOrientAssetManagementCo.,Ltd. | 34,970,000 | RMBcommonshare | 34,970,000 | ||||||
| ICBC-FullgoalGrowthSelectedOpen-EndDynamicAssetAllocationMixedTypeSecuritiesFundwithAFixedPeriodof3Years | 3,682,638 | RMBcommonshare | 3,682,638 |
| ICBC-HuaAnMid-capandSmall-capGrowthMixedTypeSecuritiesInvestmentFund | 2,458,951 | RMBcommonshare | 2,458,951 |
| DuanShaoteng | 1,777,555 | RMBcommonshare | 1,777,555 |
| IndustrialBankCo.,Ltd.-ICBCCreditSuisseFinancialRealEstateIndustryMixedTypeSecuritiesInvestmentFund | 1,439,900 | RMBcommonshare | 1,439,900 |
| YangYaochu | 1,425,020 | Domesticallylistedforeignshare | 1,425,020 |
| NationalSocialSecurityFund504Portfolio | 1,308,200 | RMBcommonshare | 1,308,200 |
| MaiFurong | 1,221,500 | Domesticallylistedforeignshare | 1,221,500 |
| ICBC-BOCIncomeMixedTypeSecuritiesInvestmentFund | 1,199,894 | RMBcommonshare | 1,199,894 |
| Relatedoracting-in-concertpartiesamongtop10unrestrictedpublicshareholders,aswellasbetweentop10unrestrictedpublicshareholdersandtop10shareholders | ThelargestshareholderShenzhenInvestmentHoldingCorporationistheactualcontrollingshareholderoftheCompany.AndtheCompanydoesnotknowwhethertherearerelatedpartiesoracting-in-concertpartiesamongtheother9shareholders. | ||
| Top10ordinaryshareholdersinvolvedinsecuritiesmargintrading(ifany)(seenote4) | N/A | ||
Indicatebytickmarkwhetheranyofthetop10ordinaryshareholdersorthetop10unrestrictedordinaryshareholdersoftheCompanyconductedanypromissoryrepoduringtheReportingPeriod.
□Yes√NoNosuchcasesintheReportingPeriod.
IVChangeoftheControllingShareholderortheDeFactoController
ChangeofthecontrollingshareholderintheReportingPeriod
□Applicable√NotapplicableChangeofthedefactocontrollerintheReportingPeriod
□Applicable√Notapplicable
PartVIIPreferenceShares
□Applicable√NotapplicableNopreferencesharesintheReportingPeriod.
PartVIIIConvertibleCorporateBonds
□Applicable√NotapplicableNoconvertiblecorporatebondsintheReportingPeriod.
PartIXDirectors,Supervisors,SeniorManagementandStaffIChangeinShareholdingsofDirectors,SupervisorsandSeniorManagement
□Applicable√NotapplicableTherewerenochangesinshareholdingsofdirectors,supervisors,andseniormanagementintheReportingPeriod.Fordetails,seeAnnualReportof2019.
IIChangesinDirectors,SupervisorsandSeniorManagement
√Applicable□Notapplicable
| Name | Officetitle | Typeofchange | Dateofchange | Reasonforchange |
| ZhangShilei | Director | Leaving | 6April2020 | Leavingforjobturnover |
| XieChang | Director | Elected | 28April2020 | NominatedandelectedbytheBoard |
PartXCorporateBonds
Arethereanycorporatebondspubliclyofferedandlistedonthestockexchange,whichwereunduebeforetheapprovaldateofthisReportorwereduebutcouldnotberedeemedinfull?No
PartXIFinancialStatementsI.Auditor’sReport
Whethertheinterimreporthasbeenaudited?
□Yes√NoTheinterimreportoftheCompanyhasnotbeenaudited.
IIFinancialStatementsCurrencyunitforthefinancialstatementsandthenotesthereto:RMB
1.ConsolidatedBalanceSheet
PreparedbyShenzhenProperties&ResourcesDevelopment(Group)Ltd.
30June2020
Unit:RMB
| Item | 30June2020 | 31December2019 |
| Currentassets: | ||
| Monetaryassets | 3,078,941,673.62 | 3,297,890,935.91 |
| Settlementreserve | ||
| Interbankloansgranted | ||
| Held-for-tradingfinancialassets | ||
| Derivativefinancialassets | ||
| Notesreceivable | ||
| Accountsreceivable | 282,865,426.42 | 216,923,663.25 |
| Accountsreceivablefinancing | ||
| Prepayments | 84,983,434.54 | 69,546,774.17 |
| Premiumsreceivable | ||
| Reinsurancereceivables | ||
| Receivablereinsurancecontractreserve | ||
| Otherreceivables | 800,159,718.50 | 917,981,165.74 |
| Including:Interestreceivable | ||
| Dividendsreceivable | ||
| Financialassetspurchasedunderresaleagreements |
| Inventories | 5,369,131,564.81 | 4,913,510,876.66 |
| Contractassets | ||
| Assetsheldforsale | ||
| Currentportionofnon-currentassets | ||
| Othercurrentassets | 16,500,466.62 | 42,500,585.94 |
| Totalcurrentassets | 9,632,582,284.51 | 9,458,354,001.67 |
| Non-currentassets: | ||
| Loansandadvancestocustomers | ||
| Investmentsindebtobligations | ||
| Investmentsinotherdebtobligations | ||
| Long-termreceivables | ||
| Long-termequityinvestments | 45,233,184.51 | 45,076,122.72 |
| Investmentsinotherequityinstruments | 1,134,803.13 | 1,580,475.86 |
| Othernon-currentfinancialassets | ||
| Investmentproperty | 488,451,134.18 | 503,323,428.61 |
| Fixedassets | 89,296,825.77 | 93,557,782.83 |
| Constructioninprogress | ||
| Productivelivingassets | ||
| Oilandgasassets | ||
| Right-of-useassets | ||
| Intangibleassets | 591,207.45 | 700,369.66 |
| Developmentcosts | ||
| Goodwill | ||
| Long-termprepaidexpense | 6,394,067.52 | 7,034,472.79 |
| Deferredincometaxassets | 666,441,069.33 | 658,153,122.73 |
| Othernon-currentassets | 18,722,496.18 | 4,711,963.66 |
| Totalnon-currentassets | 1,316,264,788.07 | 1,314,137,738.86 |
| Totalassets | 10,948,847,072.58 | 10,772,491,740.53 |
| Currentliabilities: | ||
| Short-termborrowings | ||
| Borrowingsfromthecentralbank | ||
| Interbankloansobtained | ||
| Held-for-tradingfinancialliabilities |
| Derivativefinancialliabilities | ||
| Notespayable | ||
| Accountspayable | 536,237,338.50 | 577,689,139.10 |
| Advancesfromcustomers | 32,536,548.73 | 728,186,032.63 |
| Contractliabilities | 480,801,605.00 | |
| Financialassetssoldunderrepurchaseagreements | ||
| Customerdepositsandinterbankdeposits | ||
| Payablesforactingtradingofsecurities | ||
| Payablesforunderwritingofsecurities | ||
| Employeebenefitspayable | 116,373,374.33 | 143,493,868.80 |
| Taxespayable | 1,245,432,747.80 | 2,598,283,291.68 |
| Otherpayables | 820,188,462.69 | 1,149,104,928.85 |
| Including:Interestpayable | ||
| Dividendspayable | 12,202,676.04 | 12,202,676.04 |
| Handlingchargesandcommissionspayable | ||
| Reinsurancepayables | ||
| Liabilitiesdirectlyassociatedwithassetsheldforsale | ||
| Currentportionofnon-currentliabilities | 755,325,505.51 | 3,921,032.24 |
| Othercurrentliabilities | ||
| Totalcurrentliabilities | 3,986,895,582.56 | 5,200,678,293.30 |
| Non-currentliabilities: | ||
| Insurancecontractreserve | ||
| Long-termborrowings | 3,615,800,000.00 | 2,193,833,000.00 |
| Bondspayable | ||
| Including:Preferredshares | ||
| Perpetualbonds | ||
| Leaseliabilities | ||
| Long-termpayables | ||
| Long-termemployeebenefitspayable | ||
| Provisions | 2,903,327.87 | 2,903,327.87 |
| Deferredincome | 316,883.94 | 341,259.63 |
| Deferredincometaxliabilities | 3,821.08 | 3,821.08 |
| Othernon-currentliabilities | 111,632,315.06 | 108,164,737.46 |
| Totalnon-currentliabilities | 3,730,656,347.95 | 2,305,246,146.04 |
| Totalliabilities | 7,717,551,930.51 | 7,505,924,439.34 |
| Owners’equity: | ||
| Sharecapital | 595,979,092.00 | 595,979,092.00 |
| Otherequityinstruments | ||
| Including:Preferredshares | ||
| Perpetualbonds | ||
| Capitalreserves | 80,488,045.38 | 80,488,045.38 |
| Less:Treasurystock | ||
| Othercomprehensiveincome | -2,121,506.10 | -2,698,371.44 |
| Specificreserve | ||
| Surplusreserves | 17,060,448.05 | 17,060,448.05 |
| Generalreserve | ||
| Retainedearnings | 2,454,535,057.03 | 2,457,119,795.39 |
| TotalequityattributabletoownersoftheCompanyastheparent | 3,145,941,136.36 | 3,147,949,009.38 |
| Non-controllinginterests | 85,354,005.71 | 118,618,291.81 |
| Totalowners’equity | 3,231,295,142.07 | 3,266,567,301.19 |
| Totalliabilitiesandowners’equity | 10,948,847,072.58 | 10,772,491,740.53 |
Legalrepresentative:LiuShengxiangHeadoffinancialaffairs:CaiLiliHeadofthefinancialdepartment:LiuQiang
2.BalanceSheetoftheCompanyastheParent
Unit:RMB
| Item | 30June2020 | 31December2019 |
| Currentassets: | ||
| Monetaryassets | 2,154,367,596.65 | 2,455,001,204.14 |
| Held-for-tradingfinancialassets | ||
| Derivativefinancialassets | ||
| Notesreceivable |
| Accountsreceivable | 6,816,835.17 | 755,932.14 |
| Accountsreceivablefinancing | ||
| Prepayments | 496,729.09 | 496,729.09 |
| Otherreceivables | 307,850,283.10 | 501,082,153.81 |
| Including:Interestreceivable | ||
| Dividendsreceivable | ||
| Inventories | 629,116,380.81 | 624,499,208.02 |
| Contractassets | ||
| Assetsheldforsale | ||
| Currentportionofnon-currentassets | ||
| Othercurrentassets | 623,156.37 | 1,113,935.28 |
| Totalcurrentassets | 3,099,270,981.19 | 3,582,949,162.48 |
| Non-currentassets: | ||
| Investmentsindebtobligations | ||
| Investmentsinotherdebtobligations | ||
| Long-termreceivables | ||
| Long-termequityinvestments | 1,070,699,064.90 | 1,070,542,003.11 |
| Investmentsinotherequityinstruments | 1,365,303.13 | 1,810,975.86 |
| Othernon-currentfinancialassets | ||
| Investmentproperty | 302,442,174.75 | 312,638,785.76 |
| Fixedassets | 24,078,822.67 | 26,337,488.29 |
| Constructioninprogress | ||
| Productivelivingassets | ||
| Oilandgasassets | ||
| Right-of-useassets | ||
| Intangibleassets | ||
| Developmentcosts | ||
| Goodwill | ||
| Long-termprepaidexpense | 518,928.15 | 605,416.29 |
| Deferredincometaxassets | 255,701,915.93 | 343,958,821.07 |
| Othernon-currentassets | 1,128,851,036.88 | 1,613,657,031.92 |
| Totalnon-currentassets | 2,783,657,246.41 | 3,369,550,522.30 |
| Totalassets | 5,882,928,227.60 | 6,952,499,684.78 |
| Currentliabilities: | ||
| Short-termborrowings | ||
| Held-for-tradingfinancialliabilities | ||
| Derivativefinancialliabilities | ||
| Notespayable | ||
| Accountspayable | 39,479,676.40 | 64,503,938.37 |
| Advancesfromcustomers | 320,469.53 | |
| Contractliabilities | ||
| Employeebenefitspayable | 34,698,693.85 | 36,735,205.68 |
| Taxespayable | 5,564,387.78 | 1,322,751,671.37 |
| Otherpayables | 2,995,125,768.00 | 3,146,684,268.89 |
| Including:Interestpayable | ||
| Dividendspayable | ||
| Liabilitiesdirectlyassociatedwithassetsheldforsale | ||
| Currentportionofnon-currentliabilities | 698,988.89 | |
| Othercurrentliabilities | ||
| Totalcurrentliabilities | 3,075,567,514.92 | 4,570,995,553.84 |
| Non-currentliabilities: | ||
| Long-termborrowings | 616,000,000.00 | |
| Bondspayable | ||
| Including:Preferredshares | ||
| Perpetualbonds | ||
| Leaseliabilities | ||
| Long-termpayables | ||
| Long-termemployeebenefitspayable | ||
| Provisions | ||
| Deferredincome | ||
| Deferredincometaxliabilities | ||
| Othernon-currentliabilities | 40,000,000.00 | 40,000,000.00 |
| Totalnon-currentliabilities | 656,000,000.00 | 40,000,000.00 |
| Totalliabilities | 3,731,567,514.92 | 4,610,995,553.84 |
| Owners’equity: |
| Sharecapital | 595,979,092.00 | 595,979,092.00 |
| Otherequityinstruments | ||
| Including:Preferredshares | ||
| Perpetualbonds | ||
| Capitalreserves | 53,876,380.11 | 53,876,380.11 |
| Less:Treasurystock | ||
| Othercomprehensiveincome | -2,506,414.40 | -2,051,268.24 |
| Specificreserve | ||
| Surplusreserves | 16,403,637.61 | 16,403,637.61 |
| Retainedearnings | 1,487,608,017.36 | 1,677,296,289.46 |
| Totalowners’equity | 2,151,360,712.68 | 2,341,504,130.94 |
| Totalliabilitiesandowners’equity | 5,882,928,227.60 | 6,952,499,684.78 |
3.ConsolidatedIncomeStatement
Unit:RMB
| Item | H12020 | H12019 |
| 1.Revenue | 1,421,077,767.83 | 1,065,480,882.30 |
| Including:Operatingrevenue | 1,421,077,767.83 | 1,065,480,882.30 |
| Interestincome | ||
| Insurancepremiumincome | ||
| Handlingchargeandcommissionincome | ||
| 2.Costsandexpenses | 1,159,861,807.33 | 871,169,645.40 |
| Including:Costofsales | 611,694,943.80 | 599,675,528.78 |
| Interestexpense | ||
| Handlingchargeandcommissionexpense | ||
| Surrenders | ||
| Netinsuranceclaimspaid | ||
| Netamountprovidedasinsurancecontractreserve | ||
| Expenditureonpolicydividends | ||
| Reinsurancepremiumexpense | ||
| Taxesandsurcharges | 394,743,480.61 | 125,065,024.86 |
| Sellingexpense | 11,544,060.19 | 18,292,724.72 |
| Administrativeexpense | 88,433,004.35 | 83,229,296.11 |
| R&Dexpense | ||
| Financecosts | 53,446,318.38 | 44,907,070.93 |
| Including:Interestexpense | 84,859,496.80 | 73,970,116.57 |
| Interestincome | -31,227,361.24 | -31,182,804.42 |
| Add:Otherincome | 2,921,993.51 | 371,820.52 |
| Returnoninvestment(“-”forloss) | 157,061.79 | 780,826.57 |
| Including:Shareofprofitorlossofjointventuresandassociates | 157,061.79 | 780,826.57 |
| Incomefromthederecognitionoffinancialassetsatamortizedcost(“-”forloss) | ||
| Exchangegain(“-”forloss) | ||
| Netgainonexposurehedges(“-”forloss) | ||
| Gainonchangesinfairvalue(“-”forloss) | ||
| Creditimpairmentloss(“-”forloss) | 1,115,927.46 | -3,911,410.39 |
| Assetimpairmentloss(“-”forloss) | 1,832.91 | 1,333,825.60 |
| Assetdisposalincome(“-”forloss) | ||
| 3.Operatingprofit(“-”forloss) | 265,412,776.17 | 192,886,299.20 |
| Add:Non-operatingincome | 4,244,175.90 | 6,875,418.46 |
| Less:Non-operatingexpense | 2,399,487.70 | 1,813,599.30 |
| 4.Profitbeforetax(“-”forloss) | 267,257,464.37 | 197,948,118.36 |
| Less:Incometaxexpense | 89,394,015.71 | 69,721,304.50 |
| 5.Netprofit(“-”fornetloss) | 177,863,448.66 | 128,226,813.86 |
| 5.1Byoperatingcontinuity | ||
| 5.1.1Netprofitfromcontinuingoperations(“-”fornetloss) | 177,863,448.66 | 128,226,813.86 |
| 5.1.2Netprofitfromdiscontinuedoperations(“-”fornetloss) | ||
| 5.2Byownership | ||
| 5.2.1Netprofitattributableto | 211,967,734.76 | 155,922,425.40 |
| ownersoftheCompanyastheparent | ||
| 5.2.1Netprofitattributabletonon-controllinginterests | -34,104,286.10 | -27,695,611.54 |
| 6.Othercomprehensiveincome,netoftax | 576,865.34 | 202,824.25 |
| AttributabletoownersoftheCompanyastheparent | 576,865.34 | 202,824.25 |
| 6.1Itemsthatwillnotbereclassifiedtoprofitorloss | -455,146.16 | |
| 6.1.1Changescausedbyremeasurementsondefinedbenefitschemes | ||
| 6.1.2Othercomprehensiveincomethatwillnotbereclassifiedtoprofitorlossundertheequitymethod | ||
| 6.1.3Changesinthefairvalueofinvestmentsinotherequityinstruments | -455,146.16 | |
| 6.1.4Changesinthefairvaluearisingfromchangesinowncreditrisk | ||
| 6.1.5Other | ||
| 6.2Itemsthatwillbereclassifiedtoprofitorloss | 1,032,011.50 | 202,824.25 |
| 6.2.1Othercomprehensiveincomethatwillbereclassifiedtoprofitorlossundertheequitymethod | ||
| 6.2.2Changesinthefairvalueofinvestmentsinotherdebtobligations | ||
| 6.2.3Othercomprehensiveincomearisingfromthereclassificationoffinancialassets | ||
| 6.2.4Creditimpairmentallowanceforinvestmentsinotherdebtobligations | ||
| 6.2.5Reserveforcashflowhedges | ||
| 6.2.6Differencesarisingfromthetranslationofforeigncurrency-denominatedfinancialstatements | 1,032,011.50 | 202,824.25 |
| 6.2.7Other | ||
| Attributabletonon-controllinginterests | ||
| 7.Totalcomprehensiveincome | 178,440,314.00 | 128,429,638.11 |
| AttributabletoownersoftheCompanyastheparent | 212,544,600.10 | 156,125,249.65 |
| Attributabletonon-controllinginterests | -34,104,286.10 | -27,695,611.54 |
| 8.Earningspershare | ||
| 8.1Basicearningspershare | 0.3557 | 0.2616 |
| 8.2Dilutedearningspershare | 0.3557 | 0.2616 |
WherebusinesscombinationsundercommoncontroloccurredintheCurrentPeriod,thenetprofitachievedbytheacquireesbeforethecombinationswasRMB0.00,withtheamountforthesameperiodoflastyearbeingRMB52,922,401.49.Legalrepresentative:LiuShengxiangHeadoffinancialaffairs:CaiLiliHeadofthefinancialdepartment:LiuQiang
4.IncomeStatementoftheCompanyastheParent
Unit:RMB
| Item | H12020 | H12019 |
| 1.Operatingrevenue | 25,828,330.02 | 341,910,051.35 |
| Less:Costofsales | 15,835,977.53 | 64,705,194.33 |
| Taxesandsurcharges | 6,073,285.87 | 106,581,164.55 |
| Sellingexpense | 596,897.00 | 6,932,430.59 |
| Administrativeexpense | 31,193,084.64 | 26,365,324.28 |
| R&Dexpense | ||
| Financecosts | -27,995,222.26 | -20,211,072.23 |
| Including:Interestexpense | 3,075,551.11 | |
| Interestincome | -29,309,100.65 | -20,445,143.13 |
| Add:Otherincome | ||
| Returnoninvestment(“-”forloss) | 62,573,990.52 | 16,880,145.24 |
| Including:Shareofprofitorlossofjointventuresandassociates | 157,061.79 | 780,826.57 |
| Incomefromthederecognitionoffinancialassetsatamortizedcost(“-”forloss) | ||
| Netgainonexposurehedges(“-”forloss) | ||
| Gainonchangesinfairvalue(“-”forloss) |
| Creditimpairmentloss(“-”forloss) | 86,608.96 | 475,313.54 |
| Assetimpairmentloss(“-”forloss) | ||
| Assetdisposalincome(“-”forloss) | ||
| 2.Operatingprofit(“-”forloss) | 62,784,906.72 | 174,892,468.61 |
| Add:Non-operatingincome | 536,196.80 | 320,000.00 |
| Less:Non-operatingexpense | 2,138,000.00 | 1,102,131.09 |
| 3.Profitbeforetax(“-”forloss) | 61,183,103.52 | 174,110,337.52 |
| Less:Incometaxexpense | 36,318,902.50 | 41,331,071.98 |
| 4.Netprofit(“-”fornetloss) | 24,864,201.02 | 132,779,265.54 |
| 4.1Netprofitfromcontinuingoperations(“-”fornetloss) | 24,864,201.02 | 132,779,265.54 |
| 4.2Netprofitfromdiscontinuedoperations(“-”fornetloss) | ||
| 5.Othercomprehensiveincome,netoftax | -455,146.16 | |
| 5.1Itemsthatwillnotbereclassifiedtoprofitorloss | -455,146.16 | |
| 5.1.1Changescausedbyremeasurementsondefinedbenefitschemes | ||
| 5.1.2Othercomprehensiveincomethatwillnotbereclassifiedtoprofitorlossundertheequitymethod | ||
| 5.1.3Changesinthefairvalueofinvestmentsinotherequityinstruments | -455,146.16 | |
| 5.1.4Changesinthefairvaluearisingfromchangesinowncreditrisk | ||
| 5.1.5Other | ||
| 5.2Itemsthatwillbereclassifiedtoprofitorloss | ||
| 5.2.1Othercomprehensiveincomethatwillbereclassifiedtoprofitorlossundertheequitymethod | ||
| 5.2.2Changesinthefairvalueofinvestmentsinotherdebtobligations | ||
| 5.2.3Othercomprehensiveincomearisingfromthereclassificationoffinancialassets |
| 5.2.4Creditimpairmentallowanceforinvestmentsinotherdebtobligations | ||
| 5.2.5Reserveforcashflowhedges | ||
| 5.2.6Differencesarisingfromthetranslationofforeigncurrency-denominatedfinancialstatements | ||
| 5.2.7Other | ||
| 6.Totalcomprehensiveincome | 24,409,054.86 | 132,779,265.54 |
| 7.Earningspershare | ||
| 7.1Basicearningspershare | 0.0417 | 0.2228 |
| 7.2Dilutedearningspershare | 0.0417 | 0.2228 |
5.ConsolidatedCashFlowStatement
Unit:RMB
| Item | H12020 | H12019 |
| 1.Cashflowsfromoperatingactivities: | ||
| Proceedsfromsaleofcommoditiesandrenderingofservices | 1,233,830,460.59 | 1,882,218,982.52 |
| Netincreaseincustomerdepositsandinterbankdeposits | ||
| Netincreaseinborrowingsfromthecentralbank | ||
| Netincreaseinloansfromotherfinancialinstitutions | ||
| Premiumsreceivedonoriginalinsurancecontracts | ||
| Netproceedsfromreinsurance | ||
| Netincreaseindepositsandinvestmentsofpolicyholders | ||
| Interest,handlingchargesandcommissionsreceived | ||
| Netincreaseininterbankloansobtained | ||
| Netincreaseinproceedsfromrepurchasetransactions | ||
| Netproceedsfromactingtradingofsecurities | ||
| Taxrebates | 11,517,514.19 |
| Cashgeneratedfromotheroperatingactivities | 333,720,016.38 | 115,887,594.42 |
| Subtotalofcashgeneratedfromoperatingactivities | 1,579,067,991.16 | 1,998,106,576.94 |
| Paymentsforcommoditiesandservices | 879,596,446.23 | 1,570,821,818.52 |
| Netincreaseinloansandadvancestocustomers | ||
| Netincreaseindepositsinthecentralbankandininterbankloansgranted | ||
| Paymentsforclaimsonoriginalinsurancecontracts | ||
| Netincreaseininterbankloansgranted | ||
| Interest,handlingchargesandcommissionspaid | ||
| Policydividendspaid | ||
| Cashpaidtoandforemployees | 330,739,905.05 | 310,010,627.06 |
| Taxespaid | 1,900,688,223.09 | 469,271,389.64 |
| Cashusedinotheroperatingactivities | 91,225,555.69 | 44,690,753.42 |
| Subtotalofcashusedinoperatingactivities | 3,202,250,130.06 | 2,394,794,588.64 |
| Netcashgeneratedfrom/usedinoperatingactivities | -1,623,182,138.90 | -396,688,011.70 |
| 2.Cashflowsfrominvestingactivities: | ||
| Proceedsfromdisinvestment | ||
| Returnoninvestment | ||
| Netproceedsfromthedisposaloffixedassets,intangibleassetsandotherlong-livedassets | 4,408.08 | 5,655.00 |
| Netproceedsfromthedisposalofsubsidiariesandotherbusinessunits | ||
| Cashgeneratedfromotherinvestingactivities | ||
| Subtotalofcashgeneratedfrominvestingactivities | 4,408.08 | 5,655.00 |
| Paymentsfortheacquisitionoffixedassets,intangibleassetsandotherlong-livedassets | 16,277,097.63 | 10,767,529.25 |
| Paymentsforinvestments |
| Netincreaseinpledgedloansgranted | ||
| Netpaymentsfortheacquisitionofsubsidiariesandotherbusinessunits | 465,807,569.82 | 1,555,272.25 |
| Cashusedinotherinvestingactivities | ||
| Subtotalofcashusedininvestingactivities | 482,084,667.45 | 12,322,801.50 |
| Netcashgeneratedfrom/usedininvestingactivities | -482,080,259.37 | -12,317,146.50 |
| 3.Cashflowsfromfinancingactivities: | ||
| Capitalcontributionsreceived | 840,000.00 | 1,750,000.00 |
| Including:Capitalcontributionsbynon-controllingintereststosubsidiaries | 840,000.00 | 1,750,000.00 |
| Borrowingsraised | 2,172,000,000.00 | |
| Cashgeneratedfromotherfinancingactivities | ||
| Subtotalofcashgeneratedfromfinancingactivities | 2,172,840,000.00 | 1,750,000.00 |
| Repaymentofborrowings | 1,033,000.00 | |
| Interestanddividendspaid | 296,891,168.14 | 424,264,720.04 |
| Including:Dividendspaidbysubsidiariestonon-controllinginterests | ||
| Cashusedinotherfinancingactivities | ||
| Subtotalofcashusedinfinancingactivities | 297,924,168.14 | 424,264,720.04 |
| Netcashgeneratedfrom/usedinfinancingactivities | 1,874,915,831.86 | -422,514,720.04 |
| 4.Effectofforeignexchangerateschangesoncashandcashequivalents | 1,071,103.91 | 214,256.25 |
| 5.Netincreaseincashandcashequivalents | -229,275,462.50 | -831,305,621.99 |
| Add:Cashandcashequivalents,beginningoftheperiod | 3,285,345,233.47 | 3,881,027,257.89 |
| 6.Cashandcashequivalents,endoftheperiod | 3,056,069,770.97 | 3,049,721,635.90 |
6.CashFlowStatementoftheCompanyastheParent
Unit:RMB
| Item | H12020 | H12019 |
| 1.Cashflowsfromoperatingactivities: | ||
| Proceedsfromsaleofcommoditiesandrenderingofservices | 16,901,714.03 | 293,652,100.60 |
| Taxrebates | ||
| Cashgeneratedfromotheroperatingactivities | 1,354,954,984.16 | 1,298,822,878.54 |
| Subtotalofcashgeneratedfromoperatingactivities | 1,371,856,698.19 | 1,592,474,979.14 |
| Paymentsforcommoditiesandservices | 34,769,898.91 | 567,588,715.82 |
| Cashpaidtoandforemployees | 22,444,977.67 | 24,332,201.12 |
| Taxespaid | 1,278,080,688.35 | 326,980,098.56 |
| Cashusedinotheroperatingactivities | 831,802,326.79 | 379,603,435.53 |
| Subtotalofcashusedinoperatingactivities | 2,167,097,891.72 | 1,298,504,451.03 |
| Netcashgeneratedfrom/usedinoperatingactivities | -795,241,193.53 | 293,970,528.11 |
| 2.Cashflowsfrominvestingactivities: | ||
| Proceedsfromdisinvestment | 565,000,000.00 | |
| Returnoninvestment | 14,575,000.01 | |
| Netproceedsfromthedisposaloffixedassets,intangibleassetsandotherlong-livedassets | 3,955.86 | 690.00 |
| Netproceedsfromthedisposalofsubsidiariesandotherbusinessunits | ||
| Cashgeneratedfromotherinvestingactivities | ||
| Subtotalofcashgeneratedfrominvestingactivities | 565,003,955.86 | 14,575,690.01 |
| Paymentsfortheacquisitionoffixedassets,intangibleassetsandotherlong-livedassets | 14,226,899.52 | 8,631,309.56 |
| Paymentsforinvestments | 850,000,000.00 | |
| Netpaymentsfortheacquisitionofsubsidiariesandotherbusinessunits | 465,807,569.82 | 1,600,000.00 |
| Cashusedinotherinvestingactivities | ||
| Subtotalofcashusedininvestingactivities | 480,034,469.34 | 860,231,309.56 |
| Netcashgeneratedfrom/usedin | 84,969,486.52 | -845,655,619.55 |
| investingactivities | ||
| 3.Cashflowsfromfinancingactivities: | ||
| Capitalcontributionsreceived | ||
| Borrowingsraised | 616,000,000.00 | |
| Cashgeneratedfromotherfinancingactivities | ||
| Subtotalofcashgeneratedfromfinancingactivities | 616,000,000.00 | |
| Repaymentofborrowings | ||
| Interestanddividendspaid | 216,929,035.34 | 178,793,727.60 |
| Cashusedinotherfinancingactivities | ||
| Subtotalofcashusedinfinancingactivities | 216,929,035.34 | 178,793,727.60 |
| Netcashgeneratedfrom/usedinfinancingactivities | 399,070,964.66 | -178,793,727.60 |
| 4.Effectofforeignexchangerateschangesoncashandcashequivalents | 4,949.10 | 2,634.28 |
| 5.Netincreaseincashandcashequivalents | -311,195,793.25 | -730,476,184.76 |
| Add:Cashandcashequivalents,beginningoftheperiod | 2,450,935,673.17 | 2,520,788,994.16 |
| 6.Cashandcashequivalents,endoftheperiod | 2,139,739,879.92 | 1,790,312,809.40 |
7.ConsolidatedStatementsofChangesinOwners’Equity
H12020
Unit:RMB
| Item | H12020 | ||||||||||||||
| EquityattributabletoownersoftheCompanyastheparent | Non-controllinginterests | Totalowners’equity | |||||||||||||
| Sharecapital | Otherequityinstruments | Capitalreserves | Less:Treasurystock | Othercomprehensiveincome | Specificreserve | Surplusreserves | Generalreserve | Retainedearnings | Other | Subtotal | |||||
| Preferredshares | Perpetualbonds | Other | |||||||||||||
| 1.Balanceasattheendoftheprioryear | 595,979,092.00 | 80,488,045.38 | -2,698,371.44 | 17,060,448.05 | 2,457,119,795.39 | 3,147,949,009.38 | 118,618,291.81 | 3,266,567,301.19 | |||||||
| Add: | |||||||||||||||
| Adjustmentforchangeinaccountingpolicy | |||||||||||||
| Adjustmentforcorrectionofpreviouserror | |||||||||||||
| Adjustmentforbusinesscombinationundercommoncontrol | |||||||||||||
| Otheradjustments | |||||||||||||
| 2.Balanceasatthebeginningoftheyear | 595,979,092.00 | 80,488,045.38 | -2,698,371.44 | 17,060,448.05 | 2,457,119,795.39 | 3,147,949,009.38 | 118,618,291.81 | 3,266,567,301.19 | |||||
| 3.Increase/decreaseintheperiod(“-”fordecrease) | 576,865.34 | -2,584,738.36 | -2,007,873.02 | -33,264,286.10 | -35,272,159.12 | ||||||||
| 3.1Totalcomprehensiveincome | 576,865.34 | 211,967,734.76 | 212,544,600.10 | -34,104,286.10 | 178,440,314.00 | ||||||||
| 3.2Capitalincreasedandreducedbyowners | 840,000.00 | 840,000.00 | |||||||||||
| 3.2.1Ordinarysharesincreasedbyowners | 840,000.00 | 840,000.00 | |||||||||||
| 3.2.2Capitalincreasedbyholdersofotherequityinstruments | |||||||||||||
| 3.2.3Share-basedpaymentsincludedinowners’equity |
| 3.2.4Other | ||||||
| 3.3Profitdistribution | -214,552,473.12 | -214,552,473.12 | -214,552,473.12 | |||
| 3.3.1Appropriationtosurplusreserves | ||||||
| 3.3.2Appropriationtogeneralreserve | ||||||
| 3.3.3Appropriationtoowners(orshareholders) | -214,552,473.12 | -214,552,473.12 | -214,552,473.12 | |||
| 3.3.4Other | ||||||
| 3.4Transferswithinowners’equity | ||||||
| 3.4.1Increaseincapital(orsharecapital)fromcapitalreserves | ||||||
| 3.4.2Increaseincapital(orsharecapital)fromsurplusreserves | ||||||
| 3.4.3Lossoffsetbysurplusreserves | ||||||
| 3.4.4Changesindefinedbenefitschemestransferredtoretainedearnings | ||||||
| 3.4.5Othercomprehensiveincome |
| transferredtoretainedearnings | |||||||||||||
| 3.4.6Other | |||||||||||||
| 3.5Specificreserve | |||||||||||||
| 3.5.1Increaseintheperiod | |||||||||||||
| 3.5.2Usedintheperiod | |||||||||||||
| 3.6Other | |||||||||||||
| 4.Balanceasattheendoftheperiod | 595,979,092.00 | 80,488,045.38 | -2,121,506.10 | 17,060,448.05 | 2,454,535,057.03 | 3,145,941,136.36 | 85,354,005.71 | 3,231,295,142.07 |
H12019
Unit:RMB
| Item | H12019 | ||||||||||||||
| EquityattributabletoownersoftheCompanyastheparent | Non-controllinginterests | Totalowners’equity | |||||||||||||
| Sharecapital | Otherequityinstruments | Capitalreserves | Less:Treasurystock | Othercomprehensiveincome | Specificreserve | Surplusreserves | Generalreserve | Retainedearnings | Other | Subtotal | |||||
| Preferredshares | Perpetualbonds | Other | |||||||||||||
| 1.Balanceasattheendoftheprioryear | 595,979,092.00 | 483,347,184.25 | -1,786,181.69 | 299,569,569.96 | 2,495,296,440.15 | 3,872,406,104.67 | 9,111,409.91 | 3,881,517,514.58 | |||||||
| Add:Adjustmentforchangeinaccountingpolicy | |||||||||||||||
| Adjustmentforcorrectionofpreviouserror | |||||||||||||||
| Adjustmentforbusinesscombinationundercommoncontrol | |||||||||||||||
| Otheradjustments | |||||||||||||
| 2.Balanceasatthebeginningoftheyear | 595,979,092.00 | 483,347,184.25 | -1,786,181.69 | 299,569,569.96 | 2,495,296,440.15 | 3,872,406,104.67 | 9,111,409.91 | 3,881,517,514.58 | |||||
| 3.Increase/decreaseintheperiod(“-”fordecrease) | -129,620,559.03 | 202,824.25 | -226,886,860.17 | -356,304,594.95 | 156,953,974.84 | -199,350,620.11 | |||||||
| 3.1Totalcomprehensiveincome | 202,824.25 | 155,922,425.40 | 156,125,249.65 | -27,695,611.54 | 128,429,638.11 | ||||||||
| 3.2Capitalincreasedandreducedbyowners | -129,620,559.03 | -204,015,557.97 | -333,636,117.00 | 184,649,586.38 | -148,986,530.62 | ||||||||
| 3.2.1Ordinarysharesincreasedbyowners | |||||||||||||
| 3.2.2Capitalincreasedbyholdersofotherequityinstruments | |||||||||||||
| 3.2.3Share-basedpaymentsincludedinowners’equity | |||||||||||||
| 3.2.4Other | -129,620,559.03 | -204,015,557.97 | -333,636,117.00 | 184,649,586.38 | -148,986,530.62 | ||||||||
| 3.3Profitdistribution | -178,793,727.60 | -178,793,727.60 | -178,793,727.60 | ||||||||||
| 3.3.1Appropriationtosurplusreserves | |||||||||||||
| 3.3.2Appropriation |
| togeneralreserve | ||||||
| 3.3.3Appropriationtoowners(orshareholders) | -178,793,727.60 | -178,793,727.60 | -178,793,727.60 | |||
| 3.3.4Other | ||||||
| 3.4Transferswithinowners’equity | ||||||
| 3.4.1Increaseincapital(orsharecapital)fromcapitalreserves | ||||||
| 3.4.2Increaseincapital(orsharecapital)fromsurplusreserves | ||||||
| 3.4.3Lossoffsetbysurplusreserves | ||||||
| 3.4.4Changesindefinedbenefitschemestransferredtoretainedearnings | ||||||
| 3.4.5Othercomprehensiveincometransferredtoretainedearnings | ||||||
| 3.4.6Other | ||||||
| 3.5Specificreserve |
| 3.5.1Increaseintheperiod | |||||||||||||
| 3.5.2Usedintheperiod | |||||||||||||
| 3.6Other | |||||||||||||
| 4.Balanceasattheendoftheperiod | 595,979,092.00 | 353,726,625.22 | -1,583,357.44 | 299,569,569.96 | 2,268,409,579.98 | 3,516,101,509.72 | 166,065,384.75 | 3,682,166,894.47 |
8.StatementsofChangesinOwners’EquityoftheCompanyastheParent
H12020
Unit:RMB
| Item | H12020 | |||||||||||
| Sharecapital | Otherequityinstruments | Capitalreserves | Less:Treasurystock | Othercomprehensiveincome | Specificreserve | Surplusreserves | Retainedearnings | Other | Totalowners’equity | |||
| Preferredshares | Perpetualbonds | Other | ||||||||||
| 1.Balanceasattheendoftheprioryear | 595,979,092.00 | 53,876,380.11 | -2,051,268.24 | 16,403,637.61 | 1,677,296,289.46 | 2,341,504,130.94 | ||||||
| Add:Adjustmentforchangeinaccountingpolicy | ||||||||||||
| Adjustmentforcorrectionofpreviouserror | ||||||||||||
| Otheradjustments | ||||||||||||
| 2.Balanceasatthebeginningoftheyear | 595,979,092.00 | 53,876,380.11 | -2,051,268.24 | 16,403,637.61 | 1,677,296,289.46 | 2,341,504,130.94 | ||||||
| 3.Increase/decreaseintheperiod(“-”fordecrease) | -455,146.16 | -189,688,272.10 | -190,143,418.26 | |||||||||
| 3.1Totalcomprehensiveincome | -455,146.16 | 24,864,201.02 | 24,409,054.86 | |||||||||
| 3.2Capitalincreasedandreducedbyowners | ||||
| 3.2.1Ordinarysharesincreasedbyowners | ||||
| 3.2.2Capitalincreasedbyholdersofotherequityinstruments | ||||
| 3.2.3Share-basedpaymentsincludedinowners’equity | ||||
| 3.2.4Other | ||||
| 3.3Profitdistribution | -214,552,473.12 | -214,552,473.12 | ||
| 3.3.1Appropriationtosurplusreserves | ||||
| 3.3.2Appropriationtoowners(orshareholders) | -214,552,473.12 | -214,552,473.12 | ||
| 3.3.3Other | ||||
| 3.4Transferswithinowners’equity | ||||
| 3.4.1Increaseincapital(orsharecapital)fromcapitalreserves | ||||
| 3.4.2Increaseincapital(orsharecapital)fromsurplusreserves |
| 3.4.3Lossoffsetbysurplusreserves | ||||||||||
| 3.4.4Changesindefinedbenefitschemestransferredtoretainedearnings | ||||||||||
| 3.4.5Othercomprehensiveincometransferredtoretainedearnings | ||||||||||
| 3.4.6Other | ||||||||||
| 3.5Specificreserve | ||||||||||
| 3.5.1Increaseintheperiod | ||||||||||
| 3.5.2Usedintheperiod | ||||||||||
| 3.6Other | ||||||||||
| 4.Balanceasattheendoftheperiod | 595,979,092.00 | 53,876,380.11 | -2,506,414.40 | 16,403,637.61 | 1,487,608,017.36 | 2,151,360,712.68 |
H12019
Unit:RMB
| Item | H12019 | |||||||||||
| Sharecapital | Otherequityinstruments | Capitalreserves | Less:Treasurystock | Othercomprehensiveincome | Specificreserve | Surplusreserves | Retainedearnings | Other | Totalowners’equity | |||
| Preferredshares | Perpetualbonds | Other | ||||||||||
| 1.Balanceasattheendoftheprioryear | 595,979,092.00 | 92,326,467.62 | 298,912,759.52 | 2,080,513,737.62 | 3,067,732,056.76 | |||||||
| Add:Adjustmentforchangeinaccountingpolicy | ||||||||||||
| Adjustmentforcorrectionofpreviouserror | ||||||||
| Otheradjustments | ||||||||
| 2.Balanceasatthebeginningoftheyear | 595,979,092.00 | 92,326,467.62 | 298,912,759.52 | 2,080,513,737.62 | 3,067,732,056.76 | |||
| 3.Increase/decreaseintheperiod(“-”fordecrease) | -46,014,462.06 | -46,014,462.06 | ||||||
| 3.1Totalcomprehensiveincome | 132,779,265.54 | 132,779,265.54 | ||||||
| 3.2Capitalincreasedandreducedbyowners | ||||||||
| 3.2.1Ordinarysharesincreasedbyowners | ||||||||
| 3.2.2Capitalincreasedbyholdersofotherequityinstruments | ||||||||
| 3.2.3Share-basedpaymentsincludedinowners’equity | ||||||||
| 3.2.4Other | ||||||||
| 3.3Profitdistribution | -178,793,727.60 | -178,793,727.60 | ||||||
| 3.3.1Appropriationtosurplusreserves | ||||||||
| 3.3.2 | -178,793, | -178,793,72 |
| Appropriationtoowners(orshareholders) | 727.60 | 7.60 | ||||||
| 3.3.3Other | ||||||||
| 3.4Transferswithinowners’equity | ||||||||
| 3.4.1Increaseincapital(orsharecapital)fromcapitalreserves | ||||||||
| 3.4.2Increaseincapital(orsharecapital)fromsurplusreserves | ||||||||
| 3.4.3Lossoffsetbysurplusreserves | ||||||||
| 3.4.4Changesindefinedbenefitschemestransferredtoretainedearnings | ||||||||
| 3.4.5Othercomprehensiveincometransferredtoretainedearnings | ||||||||
| 3.4.6Other | ||||||||
| 3.5Specificreserve | ||||||||
| 3.5.1Increaseintheperiod | ||||||||
| 3.5.2Usedintheperiod | ||||||||
| 3.6Other | ||||||||
| 4.Balanceasat | 595,97 | 92,326, | 298,912 | 2,034,499 | 3,021,717,5 |
| theendoftheperiod | 9,092.00 | 467.62 | ,759.52 | ,275.56 | 94.70 |
IIICompanyProfile
ShenzhenProperties&ResourcesDevelopment(Group)Ltd.(hereinafterreferredtoas“theCompany”or“Company”)wasincorporatedbasedonthereconstructionofShenzhenProperties&ResourcesDevelopmentCo.,Ltd.afterobtainingapprovalofZFBF[1991]No.831fromPeople’sGovernmentofShenzhenMunicipality.ItwasregisteredwithShenzhenIndustrialandCommercialAdministrationBureauon17January1983withShenzhenasitsheadquarters.NowtheCompanyholdsthebusinesslicenseforlegalpersonwiththeregistrationnumber/unifiedsocialcreditcodeof91440300192174135N.TheregisteredcapitalwasRMB595,979,092withthetotalsharesof595,979,092(RMB1facevaluepershare),amongwhich,restrictedpublicshares:
1,931,280Asharesand0Bshares;unrestrictedpublicshares:526,442,569Asharesand67,605,243Bshares.ThestockoftheCompanyhasbeenlistedontheShenzhenStockExchangeon30March1992.TheCompanyisintherealestatesector.Itsmainbusinessincludesdevelopmentofrealestateandsaleofcommercialhousing,constructionandmanagementofbuildings,houserent,supervisionofconstruction,domestictradingandmaterialssupplyandmarketing(excludingexclusivedealingandmonopolysoldproductsandcommoditiesunderspecialcontroltopurchase).Mainproductsorservicesrenderedmainlyincludethedevelopmentandsalesofcommercialresidentialhousing;propertymanagement;buildingsandthebuildingdevicesmaintenance,gardenafforestandcleaningservice;propertyleasing;superviseandmanagementoftheengineering;retailsoftheChinesefood,Western-stylefoodandwines,andetc.Thefinancialstatementswereapprovedandauthorizedforissuebythe17
thMeetingofthe9
thBoardofDirectorsoftheCompanyon19August2020.Therewere43subsidiariesincludingShenzhenHuangchengRealEstateCo.,Ltd.,DongguanGuomaoChangshengRealEstateDevelopmentCo.,Ltd.,ShenzhenInternationalTradeCenterPropertyManagementCo.,Ltd.includedintheconsolidationfinancialstatementsinthisreport.PleaserefertotheNoteVIIIandNoteIXofthefinancialstatementsfordetails.IV.BasisforthePreparationofFinancialStatements
1.PreparationBasisThefinancialstatementoftheCompanywaspreparedonthebaseoftheassumptionofcontinuation.
2.ContinuationTherewasnosuchcasewherethesustainableoperationabilitywithin12monthssincetheendoftheReportingPeriodwashighlydoubted.
V.ImportantAccountingPoliciesandEstimationsIndicationofspecificaccountingpoliciesandestimations:
1.StatementforComplyingwiththeAccountingStandardforBusinessEnterprise
ThefinancialstatementpreparedbytheCompanycomplieswiththerequirementsofthelatestaccountingstandardsforbusinessenterprisesaswellastheapplicationguidelines,interpretationsandotherrelevantregulations(hereinafterreferredtoasthe“accountingstandardsforbusinessenterprises”)issuedbytheMinistryofFinance.ItreflectstheCompany’sfinancialconditions,
operatingresults,cashflowandotherrelatedinformationinatruthfulandcompletemanner.Inaddition,inthepreparationofthefinancialreport,referencewasmadetothepresentationanddisclosurerequirementsoftheRuleforInformationDisclosurebyCompaniesOfferingSecuritiestothePublicNo.15-GeneralProvisionsonFinancialReports(2014Revision)andtheNoticeonRelatedMattersoftheImplementationofNewAccountingStandardsforBusinessEnterprisesbyListedCompanies(KJBH[2018]No.453).
2.FiscalPeriod
ThefiscalyearoftheCompanyisasolarcalendaryear,whichisfrom1Januaryto31December.
3.OperatingCycleExceptfortherealestateindustry,otherbusinessesrunbytheCompanyhaverelativelyshortoperatingcyclesaccordingtotheclassificationstandardof12-month’sliquidityofassetsandliabilities.Theoperatingcycleoftherealestateindustryshallbegenerallymorethan12monthsfromrealestatedevelopmenttocashthesales.Thespecificcycleshallbedeterminedbythedevelopmentprojectandclassifiedbytheassetsandliabilitiesliquidity.
4.StandardCurrencyofAccounts
TheCompanyadoptsRenminbiasastandardcurrencyofaccounts.
5.AccountingProcessofBusinessCombinationsundertheSameControlandnotundertheSameControl
1.AccountingProcessofBusinessCombinationsundertheSameControlTheassetsandliabilitiesthattheCompanyobtainsinabusinesscombinationshallbemeasuredonthebasisoftheircarryingamountcombinedpartyintheconsolidatedfinancialstatementsofthefinalcontrolleronthecombiningdate.Asforthebalancebetweenthecarryingamountofcombinedparty’sownersequitiesintheconsolidatedfinancialstatementsofthefinalcontrollerandthecarryingamountoftheconsiderationpaidbyitorthetotalparvalueofthesharesissued),theadditionalpaid-incapitalshallbeadjusted.Iftheadditionalpaid-incapitalisnotsufficienttobeoffset,theretainedearningsshallbeadjusted.
2.AccountingProcessofBusinessCombinationsnotundertheSameControlTheCompanyshallrecognizethepositivebalancebetweenthecombinationcostsandthefairvalueoftheidentifiablenetassetsobtainedfromtheacquireeonpurchasedateasgoodwill.Ifthecombinationcostsarelessthanthefairvalueoftheidentifiablenetassetsobtainedfromtheacquire,theCompanyshallrecheckthevariousidentifiableassetsandliabilitiesobtainedfromtheacquire,fairvaluewithliabilities,andmeasurementofcombinationcosts.Ifthecombinationcostsarelessthanthefairvalueoftheidentifiablenetassetsobtainedfromtheacquireafterrecheck,theCompanyshalltherecordthebalanceintotheprofitandlossofthecurrentperiod.
6.MethodsforPreparingConsolidatedFinancialStatements
TheCompanyastheparentincludeditsallsubsidiariesintotheconsolidationscopeofconsolidatedfinancialstatements.BasedonthefinancialstatementsoftheCompanyastheparentanditssubsidiariesandotherrelatedmaterials,theconsolidatedfinancialstatementswerepreparedbytheCompanyastheparentaccordingtoAccountingStandardsforEnterprisesNo.33–ConsolidatedFinancialStatements.
7.ClassificationofJointarrangementsandAccountingTreatmentofJointOperations
1.Jointarrangementisclassifiedintojointoperationandjointventures.
2.WhentheCompanyisapartyofajointoperation,recognizethefollowingitemsrelatedtotheprofitsinthejointoperation:
(1)Recognizetheassetsheldindependently,andrecognizetheassetsheldjointlyintheholdingportion;
(2)Recognizetheliabilitiesborneindependently,andrecognizetheliabilitiesheldjointlyintheholdingportion;
(3)RecognizetherevenuegeneratedfromtheoutputportionofjointoperationsharedforsellingtheCompany;
(4)RecognizetherevenuegeneratedfromthesaleofassetsinjointoperationintheholdingportionoftheCompany;
(5)Recognizetheexpensesincurredindependently,andrecognizetheexpensesincurredinjointoperationintheholdingportionoftheCompany.
8.RecognitionStandardforCashandCashEquivalents
Theterm“cash”listedandpresentedinthecashflowstatementreferstocashonhandanddepositsthatareavailableforpaymentatanytime.Theterm“cashequivalents”referstoshort-termandhighlyliquidinvestmentsthatarereadilyconvertibletoknownamountsofcashandwhicharesubjecttoaninsignificantriskofchangeinvalue.
9.ForeignCurrencyBusinessesandTranslationofForeignCurrencyFinancialStatements
(1)AccountingtreatmentsfortranslationofforeigncurrencybusinessAsforaforeigncurrencytransactioninitsinitialrecognition,theamountintheforeigncurrencyshallbetranslatedintotheamountintheRenminbiatthespotexchangerateofthetransactiondate.Onbalancesheetdate,theforeigncurrencymonetaryitemsshallbetranslatedasthespotexchangerateonthebalancesheetdate,thebalanceoccurredthereofshallberecordedintotheprofitsandlossesatthecurrentperiodexceptthatthebalanceofexchangearisingfromtheprincipalandinterestsofforeigncurrencyborrowingsforthepurchaseandconstructionorproductionofassetseligibleforcapitalization.Theforeigncurrencynon-monetaryitemsmeasuredatthehistoricalcostshallstillbetranslatedatthespotexchangerateonthetransactiondate,ofwhichtheamountoffunctionalcurrencyshallnotbechanged.Theforeigncurrencynon-monetaryitemsmeasuredatthefairvalueshallbetranslatedatthespotexchangerateontheconfirmingdateoffairvalue,ofwhichthebalanceofexchangeshallbeincludedintotheprofitandlossofthecurrentperiodorothercomprehensiveincome.
(2)TranslationofforeigncurrencyfinancialstatementsTheassetandliabilityitemsinthebalancesheetsshallbetranslatedataspotexchangerateonthebalancesheetdate.Amongtheowner’sequityitems,exceptfortheitemsas“retainedearnings”,otheritemsshallbetranslatedatthespotexchangerateatthetimewhentheyareincurred.Theincomeandexpenseitemsintheincomestatementsshallbetranslatedattheapproximatespotexchangerateatthetimewhentheyareincurred.Thedifferencefromtranslationofforeigncurrencyfinancialstatementsthereofshallberecordedintoothercomprehensiveincome.
10.FinancialInstruments
1.ClassificationofFinancialAssetsandFinancialLiabilitiesFinancialassetsshallbeclassifiedintothefollowingthreecategorieswhentheyareinitiallyrecognized:(1)financialassetsmeasuredatamortizedcost;(2)financialassetsatfairvaluethroughothercomprehensiveincome;(3)financialassetsatfairvaluethroughprofitorloss.Financialliabilitiesshallbeclassifiedintothefollowingfourcategorieswhentheyareinitiallyrecognized:(1)financialliabilitiesatfairvaluethroughprofitorloss;(2)financialliabilitiesgeneratedfromtransferoffinancialassetsnotconformingtorequirementsofderecognitionorcontinuousinvolvementoftransferredfinancialassets;(3)financialguaranteecontractsnotbelongingtoabove(1)
or(2),andloancommitmentsnotbelongingtoabove(1)andatlowerinterestratethanthemarketinterestrate;(4)financialliabilitiesmeasuredatamortizedcost.
2.RecognitionBasis,CalculationMethod,andTerminationofRecognitionofFinancialAssetsandLiabilities
(1)RecognitionbasisandinitialcalculationmethodoffinancialassetsandliabilitiesWhentheCompanybecomesapartytoafinancialinstrument,itshallrecognizeafinancialassetorfinancialliability.Thefinancialassetsandfinancialliabilitiesinitiallyrecognizedshallbemeasuredattheirfairvalues.Forthefinancialassetsandliabilitiesmeasuredattheirfairvaluesandofwhichthevariationisrecordedintotheprofitsandlossesofthecurrentperiod,thetransactionexpensesthereofshallbedirectlyrecordedintotheprofitsandlossesofthecurrentperiod;forothercategoriesoffinancialassetsandfinancialliabilities,thetransactionexpensesthereofshallbeincludedintotheinitiallyrecognizedamount.However,whentheaccountsreceivableinitiallyrecognizedbytheCompanydonotincludesignificantfinancingortheCompanydoesnotconsiderthefinancingincontractsnotoveroneyear,itshallbeinitiallycalculatedatthetransactionprice.
(2)Subsequentcalculationmethodoffinancialassets
1)FinancialassetsatamortizedcostTheCompanyshallmakesubsequentmeasurementonitsfinancialassetsatamortizedcostbyadoptingtheactualinterestratemethod.Thegainsorlossesgeneratedfromthefinancialassetsatamortizedcostandnotbelongingtoanyhedgingrelationshipshallberecordedintothecurrentprofitoflosswhendecognized,reclassified,amortizedwiththeactualinterestratemethodorrecognizingimpairments.
2)InvestmentsindebtinstrumentsatfairvaluethroughothercomprehensiveincomeTheCompanyshallmakesubsequentmeasurementatfairvalue.Theinterestcalculatedbyadoptingtheactualinterestratemethod,impairmentlossesorprofitsandforeignexchangegainsshallberecordedintothecurrentprofitorloss,andotherprofitsorlossesshallberecordedintoothercomprehensiveincome.Whenderecognized,theaccumulativeprofitsorlossesthereoforiginallyrecordedintoothercomprehensiveincomeshallbetransferredoutandthenrecordedintothecurrentprofitorloss.
3)InvestmentsinequityinstrumentsatfairvaluethroughothercomprehensiveincomeTheCompanyshallmakesubsequentmeasurementatfairvalue.Thedividendsobtained(excludethosebelongtorecoveryofinvestmentcost)shallberecordedintothecurrentprofitorloss,andothergainsorlossesrecordedintoothercomprehensiveincome.Whenderecognized,theaccumulativegainsorlossesthereoforiginallyrecordedintoothercomprehensiveincomeshallbetransferredoutandthenrecordedintotheretainedearnings.
4)FinancialassetsatfairvaluethroughprofitorlossTheCompanyshallmakesubsequentmeasurementatfairvalue.Thegainsorlossesgenerated(includeinterestanddividendincome)shallberecordedintothecurrentprofitorloss,unlessthefinancialassetisonepartofahedgingrelationship.
(3)Subsequentcalculationmethodoffinancialliabilities
1)FinancialliabilitiesatfairvaluethroughprofitorlossSuchfinancialliabilitiesincludetradingfinancialliabilities(includederivativeinstrumentsbelongingtofinancialliabilities)andthosedesignatedasfinancialliabilitiesatfairvaluethroughprofitorloss.Forsuchfinancialliabilities,thesubsequentmeasurementshallbeconductedatfairvalue.TheamountofchangesinfairvalueofdesignatedfinancialliabilitiesatfairvaluethroughprofitorlossduetotheCompany’screditriskchangesshallberecordedintoothercomprehensiveincome,unlessthistreatmentwillresultinorenlargeaccountingmismatchoftheprofitorloss.Theothergainsorlossesgeneratedfromsuchfinancialliabilities(includinginterestexpense,changesoffairvaluenotcausedbytheCompany’screditriskchanges)shallberecordedintothecurrentprofitorloss,unlessthetheyareonepartofahedgingrelationship.Andwhenderecognized,theaccumulativegainsorlossesthereoforiginallyrecordedintoothercomprehensiveincomeshallbetransferredoutandthenrecordedintotheretainedearnings.
2)FinancialliabilitiesgeneratedfromfinancialassetstransfernotconformingtoderecognitionconditionsorcontinuousinvolvementoftransferredfinancialassetsTheyshallbemeasuredinaccordancewithregulationsofAccountingStandardsforBusinessEnterprisesNo.23-TransferofFinancialAssets
3)financialguaranteecontractsnotbelongingtoabove(1)or(2),andloancommitmentsnotbelongingtoabove(1)andatlowerinterestratethanthemarketinterestrate;Thesubsequentmeasurementshallbeconductedaccordingtothehigherofthefollowingtwoamountsafterinitialrecognition:
①amountofallowanceforimpairmentsrecognizedinaccordancewiththeimpairmentprovisionsoffinancialinstruments;②theresidualofinitialrecognizedamountafterdeductedaccumulativeamortizedamountrecognizedasrelevantregulations.
4)FinancialliabilitiesatamortizedcostTheCompanyshallmeasureatamortizedcostbyadoptingactualinterestratemethod.Thegainsorlossesgeneratedfromfinancialliabilitiesatamortizedcostandnotbelongingtoanyhedgingrelationshipshallberecordedintothecurrentprofitorlosswhenderecognizedoramortizedwithactualinterestratemethod.
(4)Derecognitionoffinancialassetsandfinancialliabilities
1)Derecognizefinancialassetswhenmeetingoneofthefollowingconditions:
①Thecontractrightsforcollectingcashflowoffinancialassetshaveterminated;②FinancialassethasbeentransferredandthetransfermeetstheprovisionsofAccountingStandardsforBusinessEnterprisesNo.23-TransferofFinancialAssetsgoverningthederecognitionoffinancialassets.
2)Whenthecurrentobligationofthefinancialliability(orsomeofit)hasbeenrelieved,thefinancialliability(orsomeofit)shallbeaccordinglyderecognized.
3.RecognitionBasisandMeasurementofTransferofFinancialAssetsWheretheCompanyhastransferrednearlyalloftherisksandrewardsrelatedtotheownershipofthefinancialassettothetransferee,itshallstoprecognizingthefinancialassetandseparatelyrecognizetherightsandobligationsgeneratedretainedfromthetransferasassetsorliabilities.Ifitretainednearlyalloftherisksandrewardsrelatedtotheownershipofthefinancialasset,itshallcontinuetorecognizethetransferredfinancialasset.WheretheCompanydoesnottransferorretainnearlyalloftherisksandrewardsrelatedtotheownershipofafinancialasset,itshalldealwithitaccordingtothecircumstancesasfollows,respectively:(1)Ifitgivesupitscontroloverthefinancialasset,itshallstoprecognizingthefinancialassetandseparatelyrecognizetherightsandobligationsgeneratedretainedfromthetransferasassetsorliabilities;(2)Ifitdoesnotgiveupitscontroloverthefinancialasset,itshall,accordingtotheextentofitscontinuousinvolvementinthetransferredfinancialasset,recognizetherelatedfinancialassetandrecognizetherelevantliabilityaccordingly.Ifthetransferofanentirefinancialassetsatisfiestheconditionsforstoppingrecognition,thedifferencebetweentheamountsofthefollowing2itemsshallberecordedintheprofitsandlossesofthecurrentperiod:(1)Thecarryingvalueofthetransferredfinancialassetonthederecognitiondate;(2)Thesumofconsiderationreceivedfromthetransferoffinancialassets,andderecognitionamountamongtheaccumulativeamountofthechangesofthefairvalueoriginallyrecordedintheothercomprehensiveincome(thefinancialassetsinvolvetransferareinvestmentsindebtinstrumentsatfairvaluethroughothercomprehensiveincome.Ifthetransferofpartialfinancialassetsatisfiestheconditionstostoptherecognition,theentirecarryingvalueofthetransferredfinancialassetshall,betweentheportionwhoserecognitionhasbeenstoppedandtheportionwhoserecognitionhasnotbeenstopped,beapportionedaccordingtotheirrespectiverelativefairvalueonthetransferdate,andthedifferencebetweentheamountsofthefollowingtwoitemsshallbeincludedintotheprofitsandlossesofthecurrentperiod:(1)Thecarryingvalueoftheportionwhoserecognitionhasbeenstopped;(2)Thesumofconsiderationoftheportionwhoserecognitionhasbeenstopped,andderecognitionamountamongtheaccumulativeamountofthechangesofthefairvalueoriginallyrecordedintheothercomprehensiveincome(thefinancialassetsinvolvetransferareinvestmentsindebtinstrumentsatfairvaluethroughothercomprehensiveincome.
4.RecognitionMethodofFinancialAssetsandFinancialLiabilities’FairValueTheCompanyadoptsthevaluationtechniquewithsufficientusefuldataandsupportedbyotherinformationwhichissuitableforthecurrentsituationtorecognizethefairvalueofrelatedfinancialassetsandliabilities.TheCompanyclassifiestheinputvalueusedinthevaluationtechniqueintothefollowinglevelsandusestheminsequence:
(1)Thefirstlevelofinputvalueisthenon-adjustableofferofthesameassetsorliabilitiesintheactivemarketonthecalculationdate;
(2)Thesecondlevelofinputvalueisthedirectlyorindirectlyobservableinputvalueofrelatedassetsorliabilitiesexcepttheinputvalueonthefirstlevel,including:offerofsimilarassetsorliabilitiesintheactivemarket;offerofidenticalorsimilarassetsorliabilitiesinthenon-activemarket;otherobservableinputvalueexceptoffer,includingtheobservableinterestrateduringtheintervalperiodofcommonoffer,profitratecurve,etc.;theinputvalueformarketverificationetc..
(3)Thethirdlevelofinputvalueisthenon-observableinputvalueofrelatedassetsorliabilities,includinginterestratesthatcannotbeobserveddirectlyorverifiedbythedataofobservablemarket,stockfluctuationrate,futurecashflowofthedisposalobligationborneincorporatemergers,financialforecastbasedonself-data,etc..
5.Impairmentoffinancialinstrument
(1)ImpairmentmeasurementandaccountinghandlingoffinancialinstrumentBasedonexpectedcreditloss,theCompanyconductsimpairmenthandlingandconfirmslossreserveforfinancialassetswhichismeasuredbyamortizedcost,debtinstrumentinvestmentwhichismeasuredbyfairvalueandwhosechangeiscalculatedintoothercomprehensiveprofits,accountsreceivableofrental,loancommitmentwhichisbeyondfinancialdebtclassifiedastheonewhichismeasuredbyfairvalueandwhosechangeiscalculatedintocurrentprofitsandlosses,financialdebtwhichdoesnotbelongtotheonewhichismeasuredbyfairvalueandwhosechangeiscalculatedintocurrentprofitsorlosses,orfinancialguaranteecontractoffinancialdebtwhichisformedwhenitdoesnotbelongtofinancialassettransferanddoesn’tconformtoconfirmationconditionofterminationorkeepsonbeinginvolvedintransferredfinancialasset.Expectedcreditlossreferstoweightedaverageofcreditlossoffinancialinstrumentwhichtakestheriskofcontractbreachoccurrenceastheweight.Creditlossreferstothedifferencebetweenallcontractcashflowwhichisconvertedintocashaccordingtoactualinterestrateandreceivableaccordingtocontractandallcashflowwhichtobechargedasexpected,i.e.currentvalueofallcashshortage.Amongit,asforfinancialassetpurchasedororiginalwhichhashadcreditimpairment,itshouldbeconvertedintocashaccordingactualinterestrateofthisfinancialassetaftercreditadjustment.Asforfinancialassetpurchasedororiginalwhichhashadcreditimpairment,theCompanyonlyconfirmscumulativechangeofexpectedcreditlosswithinthewholedurationafterinitialconfirmationonthebalancesheetdateaslossreserve.ForaccountsreceivablethatdonotcontainsignificantfinancingcomponentsasspecifiedintheAccountingStandardsforBusinessEnterprisesNo.14-Revenue(includingcasesinwhichfinancingcomponentsincontractswithaperiodoflessthanoneyeararenotconsideredaccordingtotheStandards),theCompanyusesthesimplifiedmodelofexpectedcreditloss,andconsistentlymeasuresthelossprovisionaccordingtotheamountofexpectedcreditlossoftheentireduration.ForaccountsreceivablethatcontainsignificantfinancingcomponentsandtherentalsreceivableasspecifiedintheAccountingStandardsforBusinessEnterprisesNo.21-Leases,theGrouphasmadetheaccountingpolicychoiceandselectedthesimplifiedmodelofexpectedcreditloss,measuringthelossprovisionaccordingtoanamountthatisequivalenttotheamountofexpectedcreditlossoftheentireduration.Asforfinancialassetbeyondabovementionedmeasurementmethods,theCompanyevaluateswhetheritscreditriskhasincreasedobviouslysincetheinitialconfirmationoneachbalancesheetdate.Incasecreditriskhasincreasedobviously,theCompanymeasuresthelossreserveaccordingtoamountofexpectedcreditlosswithinthewholeduration;incasethecreditriskdoesnotincreaseobviously,theCompanymeasureslossreserveaccordingtotheamountofexpectedcreditlossinnext12months.Byutilizingobtainablerationalandwellgroundedinformation,includingforward-lookinginformation,comparingtheriskofcontractbreachonbalancesheetdateandriskofcontractbreachoninitialconfirmationdate,theCompanyconfirmswhetherthecreditriskoffinancialinstrumenthasincreasedobviouslyfrominitialconfirmation.Onbalancesheetdate,incasetheCompanyjudgesthatthefinancialinstrumentjusthasrelativelylowcreditrisk,thenitwillbeassumedthatcreditriskofthefinancialinstrumenthasnotincreasedobviously.Basedonsinglefinancialinstrumentorfinancialportfolio,theCompanyevaluatesexpectedcreditriskandmeasuresexpectedcreditloss.Whenbasedonfinancialinstrumentportfolio,theCompanytakescommonriskcharacteristicsasthebasis,anddividesfinancialinstrumentsintodifferentportfolios.TheCompanymeasuresexpectedcreditlossagainoneachbalancesheetdate,theincreaseoflossreserveoramountwhichis
transferbackgeneratedbyitiscalculatedintocurrentprofitsandlossesasimpairmentprofitsorlosses.Asforfinancialassetwhichismeasuredbyamortizedcost,lossreserveoffsetsthecarryingvalueofthefinancialassetlistedinthebalancesheet;asfordebtinvestmentwhichismeasuredbyfairvalueandwhosechangeiscalculatedintoothercomprehensiveprofits,theCompanyconfirmsitslossreserveinothercomprehensiveprofitsanddoesnotoffsetthecarryingvalueofthefinancialasset.
(2)Financialinstrumentsassessingexpectedcreditriskbygroupsandmeasuringexpectedcreditlosses
| Item | Recognitionbasis | Methodofmeasuringexpectedcreditlosses |
| Otherreceivables-intercoursefundsamongrelatedpartygroupwithintheconsolidationscope | Accountsnature | Consultinghistoricalexperienceincreditlosses,combiningactualsituationandpredictionforfutureeconomicsituation,thegroup’sexpectedcreditlossrateshallbeaccountedthroughexposureatdefaultandtheexpectedcreditlossratewithinthenext12monthsortheentirelife |
| Otherreceivables-interestreceivablegroup | ||
| Otherreceivables-otherintercoursefundsamongrelatedpartygroup | ||
| Otherreceivables-creditriskcharacteristicsgroup | Aginggroup | Consultinghistoricalexperienceincreditlosses,combiningactualsituationandpredictionforfutureeconomicsituation,thegroup’sexpectedcreditlossrateshallbeaccountedthroughexposureatdefaultandtheexpectedcreditlossratewithinthenext12monthsortheentirelife |
(3)Accountsreceivablewithexpectedcreditlossesmeasuredbygroups①Specificgroupsandmethodofmeasuringexpectedcreditloss
| Item | Recognitionbasis | Methodofmeasuringexpectedcreditlosses |
| Bank’sacceptancebillsreceivable | Billtype | Consultinghistoricalexperienceincreditlosses,combiningactualsituationandpredictionforfutureeconomicsituation,thegroup’sexpectedcreditlossrateshallbeaccountedthroughexposureatdefaultandtheexpectedcreditlossratewithintheentirelife |
| Tradeacceptancebillsreceivable | ||
| Accountsreceivable-otherintercoursefundsamongrelatedpartygroup | Accountnature | Consultinghistoricalexperienceincreditlosses,combiningactualsituationandpredictionforfutureeconomicsituation,thegroup’sexpectedcreditlossrateshallbeaccountedthroughexposureatdefaultandtheexpectedcreditlossratewithintheentirelife |
| Accountsreceivable-creditriskcharacteristicsgroup | Aginggroup | Preparethecomparativelistbetweenagingofaccountsreceivableandexpectedcreditlossrateovertheentirelifebyconsultinghistoricalexperienceincreditlosses,combiningactualsituationandpredictionforfutureeconomicsituation |
②Accountsreceivable-thecomparativelistbetweenagingofcommoncustomergroupandexpectedcreditlossrateovertheentirelife
| Aging | Expectedcreditlossrateofaccountsreceivable(%) |
| Within1year(inclusive,thesamebelow) | 3.00 |
| 1to2years | 10.00 |
| 2to3years | 30.00 |
| 3to4years | 50.00 |
| 4to5years | 80.00 |
| Over5years | 100.00 |
6.OffsetbetweenfinancialassetandfinancialdebtFinancialassetandfinancialdebtarelistedinthebalancesheetseparatelyanddon’toffseteachother.However,whenthefollowingconditionsaremetatthesametime,theCompanywilllistthenetamountaftermutualoffsetinthebalancesheet:(1)TheCompanyhasthelegalrighttooffsettheconfirmedamount,andthelegalrightisexecutablecurrently;(2)TheCompanyplanstosettlebynetamount,ormonetizethefinancialassetandliquidatethefinancialdebtatthesametime.Forthosetransfersoffinancialassetsnotmeetingthederecognitionconditions,theCompanydoesnotoffsetthetransferredfinancialassetsandrelativeliabilities.
11.NotesReceivableRefertoNoteV10FinancialInstrumentsofthefinancialstatementsfordetails.
12.AccountsReceivableRefertoNoteV10FinancialInstrumentsofthefinancialstatementsfordetails.
13.AccountsReceivableFinancingNotapplicable.
14.OtherReceivablesRecognitionandaccountingtreatmentmethodsregardingexpectedcreditlossesofotherreceivablesRefertoNoteV10FinancialInstrumentsofthefinancialstatementsfordetails.
15.Inventory
(1)InventoriesClassificationInventoriesincludedevelopmentlandheldforsaleorconsumptionintheprocessofdevelopmentandoperation,developmentproducts,temporarilyleaseddevelopmentproductswhichintendedforsale,relocationhousing,stockmaterials,inventoryequipment,andlow-valueconsumables,etc.,aswellasdevelopmentcostsintheprocessofdevelopment.
(2)CostFlowAssumption
1)Send-outmaterialsandequipmentshalladoptthemovingweightedaveragemethod.
2)Duringthedevelopmentoftheproject,thedevelopmentlandshallbeincludedinthedevelopmentcostoftheprojectbythefloorareaapportionofthedevelopedproducts.
3)Send-outdevelopedproductsshallbeaccountedbyspecificidentificationmethod.
4)ThetemporarilyleaseddevelopmentproductswhichintendedforsaleandrelocationhousingshallbeamortizedaveragelybystagesaccordingtotheexpectedusefullifeofthesamekindoffixedassetsoftheCompany.
5)Ifthepublicsupportingfacilitiesarecompletedearlierthantherelevantdevelopmentproducts,afterthefinalaccountofthepublicsupportingfacilities，itshallbeaccountintothedevelopmentcostoftherelevantdevelopmentprojectsaccordingtothebuildingarea;Ifthepublicsupportingfacilitiesarecompletedlaterthantherelevantdevelopmentproducts,therelevantdevelopmentproducts
shallwithholdthepublicsupportingfacilitiesfees,andadjusttherelevantdevelopmentproductcostsaccordingtothedifferencebetweentheactualoccurrenceandthewithholdamountafterthecompletedpublicsupportingfacilities'finalaccounts.
(3)RecognitionbasisofNetRealizableValueofInventoryOnthebalancesheetdate,inventoryshallbemeasuredatthelowerofcostornetrealizablevalue,andprovisionshallbemadeforfallingpriceofinventoriesonthegroundofthedifferencebetweenthecostofeachitemofinventoriesandthenetrealizablevalue.Inventoriesdirectlyforsale,undernormalproducingprocess,totheamountafterdeductingtheestimatedsaleexpenseandrelevanttaxesfromtheestimatedsellpriceoftheinventory,thenetrealizablevaluehasbeenrecognized;inventorieswhichneedtobeprocessed,undernormalproducingprocess,totheamountafterdeductingtheestimatedcostofcompletion,estimatedsaleexpenseandrelevanttaxesfromtheestimatedsalepriceofproducedfinishedgoods,thenetrealizablevaluehasbeenrecognized;onthebalancesheetdate,inthesameitemofinventories,ifsomehavecontractualpriceagreementwhileothersdonot,thenetrealizablevalueshallberecognizedrespectivelyandcomparedwiththeircost,andtheamountofprovisionwithdrawalorreversalforfallingpriceofinventoriesshallberecognizedrespectively.
(4)InventorySystemforInventoriesInventorysystem:Perpetualinventorysystem
(5)AmortizationMethodoftheLow-valueConsumptionGoodsandPackingArticles
1)Low-valueConsumptionGoodsOne-offamortizationmethod
2)PackingArticlesOne-offamortizationmethod
16.ContractAssetsTheCompanypresentscontractassetsorcontractliabilitiesonthebalancesheetaccordingtotherelationshipbetweenthefulfillmentofitscontractperformanceobligationsanditscustomers’payment.ConsiderationsthattheCompanyhastherighttocollectforcommoditiestransferredorservicesprovidedtocustomers(exceptforaccountsreceivable)arepresentedascontractassets.Forcontractassetsthatdonotcontainsignificantfinancingcomponents,theCompanyusesthesimplifiedmodelofexpectedcreditloss,measuringthelossprovisionaccordingtoanamountthatisequivalenttotheamountofexpectedcreditlossoftheentireduration.Theincreasedlossprovisionorreversedamountthereofshallberecordedintothecurrentprofitorlossasimpairmentlossesorgains.Forcontractassetsthatcontainsignificantfinancingcomponents,theCompanyhasmadetheaccountingpolicychoiceandselectedthesimplifiedmodelofexpectedcreditloss,measuringthelossprovisionaccordingtoanamountthatisequivalenttotheamountofexpectedcreditlossoftheentireduration.Theincreasedlossprovisionorreversedamountthereofshallberecordedintothecurrentprofitorlossasimpairmentlossesorgains.
17.ContractCostsContractcostscomprisecontractperformancecostandcontractacquisitioncost.ThecostincurredbytheCompanyfromperformingacontractisrecognizedintoanassetascontractperformancecostwhenitmeetsthefollowingconditions:
1)Thiscostdirectlyrelatestoanexistingcontractoracontractexpectedtobeacquired.Itconsistsofdirectlabor,directmaterials,manufacturecosts(orsimilarcosts),costsspecifiedtobebornebythecustomerandothercostsincurredfromthiscontractsolely.
2)ThiscosthasincreasedtheCompany’ssourcesthatareusedtofulfillitscontractperformanceobligationsinthefuture.
3)Thiscostisexpectedtoberecovered.AnincrementalcostthatisincurredbytheCompanyforacquiringacontractandexpectedtoberecoveredisrecognizedintoanassetascontractacquisitioncost.However,forsuchassetwithanamortizationperiodoflessthanoneyear,theCompanyrecognizesthem
intocurrentprofit/lossattheiroccurrence.Assetsrelatedtocontractcostsareamortizedonthesamebasisforrecognizingtherevenuefromcommoditiesorservicesrelatedtosuchassets.Whenthecarryingvalueofanassetrelatedtocontractcostsishigherthanthedifferencebetweenthefollowingtwoitems,theCompanywillwithdrawimpairmentprovisionfortheexceededpartandrecognizeitasassetimpairmentloss:
1)Residualconsiderationexpectedtobegainedfromtransferringcommoditiesandservicesrelatedtothisasset;
2)Costsexpectedtobeincurredfromtransferringsuchcommoditiesorservices.Whentheaforementionedassetimpairmentprovisionisreversedlater,thecarryingvalueoftheassetafterthereversalshouldnotexceeditscarryingvalueonthereversaldateundertheassumptionofnowithdrawalofimpairmentprovision.
18.AssetsHeldforSale
1.ClassificationofNon-currentassetsordisposalgroupHeldforSaleNon-currentassetsordisposalgroupareconfirmedtobethecomponentsheldforsalewhenthefollowingconditionsaresimultaneouslysatisfied:(1)Accordingtotheconventionofsimilartransactionssellingthiskindofassetsordisposalgroup,theycanbesoldinstantlyinsuchconditions.(2)Saleisextremelylikelytohappen,thatis,theCompanyhasmadethedecisionofasaleplan,andgottheconfirmedpurchasecommitment.Itisestimatedthatthesalewillbefinishedwithin1year.Non-currentassetsordisposalgroupsspecificallyobtainedbytheCompanyforresalewillbeclassifiedasheld-for-saleontheacquisitiondatewhentheymeetthestipulatedconditionsof“expectedtobesoldwithinoneyear”ontheacquisitiondate,andmaywellsatisfythecategoryofheld-for-salewithinashorttime(whichisusually3months).Ifanytransactionbetweennon-relatedpartiesfailstocompletewithinoneyearduetooneofthefollowingreasonsoutsidetheCompany’scontrol,andtheCompanystillcommitstosellnon-currentassetsordisposalgroups,thenon-currentassetsordisposalgroupsshallbestillclassifiedastheheld-for-salecategory:(1)Forconditionsofsaledelayresultingfromtheaccidentalsettingbythebuyeroranotherparty,theCompanyhasdulytakenactionsagainstthoseconditionsanditisexpectedthatthedelayfactorscanbesmoothlysolvedwithinoneyearsincetheconditionsofsaledelayresultingfromthesetting;(2)Non-currentassetsordisposalgroupsheldforsalefailtobesoldwithinoneyearduetorarecircumstances,andtheCompanyhastakennecessarymeasuresagainstthosenewsituationswithinthefirstyearandre-satisfiedtheconditionsforclassifyingthemintotheheld-for-salecategory.
2.Measurementofheld-for-salenon-currentassetsordisposalgroups
(1)InitialmeasurementandsubsequentmeasurementFortheinitialmeasurementandthere-measurementofheld-for-salenon-currentassetsordisposalgroupsonthebalancesheetdate,ifthecarryingvalueishigherthanthenetamountofthefairvaluedeductingthesellingexpenses,thecarryingvalueshallbewrittendowntothenetamountofthefairvaluedeductingthesellingexpenses.Thewrittendownamountshallberecognizedasassetimpairmentlossesandrecordedintocurrentprofitsorlosses,andatthesametime,theheld-for-saleassetimpairmentprovisionshallbewithdrawn.Inrespectofnon-currentassetsordisposalgroupsclassifiedintotheheld-for-salecategoryonthedateofobtainment,wheninitiallymeasuringthem,comparetheinitiallymeasuredamountsupposingthattheyarenotclassifiedintotheheld-for-salecategoryandtheamountofthefairvaluedeductingthesellingexpenses,andmeasurethemattheloweramount.Otherthanthenon-currentassetsordisposalgroupsobtainedincorporatemergers,thedifferencegeneratedfromthenetamountofthefairvalueofnon-currentassetsordisposalgroupsdeductingthesellingexpensesastheinitiallymeasuredamountshallberecordedintocurrentprofitsorlosses.Fortheamountofassetimpairmentlossesrecognizedinrespectofheld-for-saledisposalgroups,firstwriteoffthecarryingvalueofgoodwillinthedisposalgroups,andthenwriteofftheircarryingvalueinproportionaccordingtothepercentageofthecarryingvalueofeachnon-currentassetinthedisposalgroups.Depreciationoramortizationshallnotbewithdrawnforheld-for-salenon-currentassetsorthenon-currentassetsindisposalgroups,whiletheinterestsofliabilitiesandotherexpensesinheld-for-saledisposalgroupsshallstillberecognized.
(2)AccountingMethodsfortheRecoveryofAssetsImpairmentLossesIfthenetamountthatthefairvalueofthenon-currentassetsheldforsaleonthefollow-upbalancesheetdateminusthesalecostsincreases,thepreviouswritten-downamountwillberestored,andreversedtotheassetimpairmentlossconfirmedaftertheassetsbeingclassifiedasheld-for-sale.Thereversedamountwillbeincludedinthecurrentprofitorloss.Impairmentlossesonassetsrecognizedpriortoclassificationasheldforsalearenotreversed.Ifthenetamountthatthefairvalueofthedisposalgroupsheldforsaleonthefollow-upbalancesheetdateminusthesalecostsincreases,thepreviouswritten-downamountwillberestored,andreversedtotheassetimpairmentlossconfirmedaftertheassetsbeingclassifiedasheld-for-sale.Thereversedamountwillbeincludedinthecurrentprofitorloss.Thecarryingvalueofdeductedgoodwillandthenon-currentassetsapplicabletothemeasurementofheld-for-salecategorieswillnotbereversediftheassetimpairmentlossisrecognizedbeforeitisclassifiedasheldforsale.Forthesubsequentreversalamountoftheassetimpairmentlossrecognizedbythedisposalgroupheldforsale,itscarryingvalueshallbeincreasedproportionatelytotheproportionofthecarryingvalueofvariousnon-currentassetsmeasuredbythedisposalgroupinadditiontogoodwill.
(3)AccountingMethodsforCeasingtobeclassifiedasheld-for-saleandTerminationofRecognitionWhenanon-currentassetordisposalgroupceasestobeclassifiedasheld-for-saleoranon-currentassetisremovedoutfromtheheld-for-saledisposalgroupduetofailureinmeetingtheclassificationconditionsforthecategoryofheld-for-sale,itwillbemeasuredbyoneofthefollowingswhicheverislower:
①Thecarryingvaluebeforebeingclassifiedasheldforsalewillbeadjustedaccordingtothedepreciation,amortizationorimpairmentthatwouldhavebeenrecognizedundertheassumptionthatitwasnotclassifiedasheldforsale;②Therecoverableamount.Whenterminatingtherecognitionofnon-currentassetsordisposalgroupheldforsale,theunconfirmedgainsorlossesshallberecordedintothecurrentprofitsandlosses.
19.InvestmentsinDebtObligations
Notapplicable.
20.InvestmentsinotherDebtObligationsNotapplicable.
21.Long-termAccountsReceivableNotapplicable.
22.Long-termEquityInvestments
1.JudgmentofJointControlandSignificantInfluencesTheterm"jointcontrol"referstothejointcontroloveranarrangementinaccordancewiththerelatedagreements,whichdoesnotexistunlesstheparticipantssharingthecontrolpoweragreewitheachotherabouttherelatedarrangedactivity.Theterm"significantinfluences"referstothepowertoparticipateinmakingdecisionsonthefinancialandoperatingpoliciesofanenterprise,butnottocontrolordojointcontroltogetherwithotherpartiesovertheformulationofthesepolicies.
2.RecognitionofInvestmentCost
(1)Ifthebusinesscombinationisunderthecommoncontrolandtheacquirerobtainslong-termequityinvestmentintheconsiderationofcash,non-monetaryassetexchange,bearingacquiree’sliabilities,ortheissuanceofequitysecurities,theinitialcostisthecarryingamountoftheproportionoftheacquiree’sowner’sequityattheacquisitiondate.Thedifferencebetweentheinitial
costofthelong-termequityinvestmentandthecarryingamountofthepaidcombinationorthetotalamountoftheissuedsharesshouldbeadjustedtocapitalsurplus.Ifthecapitalsurplusisnotsufficientforadjustment,retainedearningsareadjustedrespectively.Whenalong-termequityinvestmentisformedfromthebusinesscombinationundercommoncontrolthroughtheCompany’smultipletransactionsstepbystep,thetreatmentshallbecarriedoutbasedonwhetherthetransactionsconstitutethe“packagedeal”.Iftheydo,theaccountingtreatmentshallbecarriedoutonthebasisofassumingalltransactionsasonetransactionwiththeacquisitionofcontrol.Iftheydonot,theinitialinvestmentcostshallbetheportionofthecarryingvalueofacquiree’snetassetsentitledintheconsolidatedfinancialstatementsofthefinalcontrolleraftertheconsolidation.Thedifferencebetweentheinitialinvestmentcostofthelong-termequityinvestmentonthecombinationdateandthecarryingvalueoftheinvestmentbeforethecombinationplusthecarryingvalueofthenewly-paidconsiderationfortheacquisitionofthesharesontheconsolidationdateshallbeadjustedtocapitalreserve;ifthecapitalreserveisinsufficientfortheadjustment,retainedearningsshouldbeadjustedaccordingly.
(2)Forthoseformedfromthebusinesscombinationunderdifferentcontrol,theinitialinvestmentcostisthefairvalueofthecombinationconsiderationpaidontheacquisitiondate.Whenalong-termequityinvestmentisformedfromthebusinesscombinationunderdifferentcontrolthroughtheCompany’smultipletransactionsstepbystep,theaccountingtreatmentshallbecarriedoutbasedonwhetherthefinancialstatementsareindividualorconsolidated:
1)Inindividualfinancialstatements,theinitialinvestmentcostaccountedincostmethodisthesumofthecarryingvalueoftheequityinvestmentoriginallyheldandthecostofnewinvestment.
2)Inconsolidatefinancialstatements,judgewhetherthetransactionsconstitutethe“packagedeal”.Iftheydo,theaccountingtreatmentshallbecarriedoutonthebasisofassumingalltransactionsasonetransactionwiththeacquisitionofcontrol.Iftheydonot,fortheacquiree’sequityheldbeforetheacquisitiondate,re-measurementshallbecarriedoutaccordingtothefairvalueoftheequityontheacquisitiondateandthedifferencebetweenthefairvalueandthecarryingvalueshallberecordedintocurrentinvestmentincome;iftheacquiree’sequityheldbeforetheacquisitiondateinvolvesothercomprehensiveincomeaccountedinequitymethod,othercomprehensiveincomerelatedtoitshallbetransferredintotheincomefortheperiodinwhichtheacquisitiondatefalls,withtheexceptionoftheothercomprehensiveincomesoccurredbecauseofthechangesofnetliabilitiesornetassetsofthedefinedbenefitpensionplansbere-measuredforsettingbytheinvestees.
3)Forthoseformedotherthanfrombusinesscombination:Iftheyareacquiredincashpayment,theinitialinvestmentcostisthepurchasepriceactuallypaid;iftheyareacquiredintheissueofequitysecurities,theinitialinvestmentcostisthefairvalueoftheissuedequitysecurities;iftheyareacquiredindebtrestructuring,theinitialinvestmentcostshallberecognizedaccordingtotheAccountingStandardsforEnterprisesNo.12-DebtRestructuring;iftheyareacquiredintheexchangeofnon-monetaryassets,theinitialinvestmentshallberecognizedaccordingtotheAccountingStandardsforEnterprisesNo.7-ExchangeofNon-MonetaryAssets.
3.MethodofsubsequentmeasurementandrecognitionofprofitsandlossesLong-termequityinvestmentwithcontroloverinvesteesshallbeaccountedincostmethod;long-termequityinvestmentonassociatedenterprisesandjointventuresshallbeaccountedinequitymethod.
4.Methodoftreatingthedisposaloftheinvestmentinasubsidiarystembystepthroughmultipletransactionsuntilthelossofthecontrollingright
(1)IndividualfinancialstatementsForthedisposedequity,thedifferencebetweenitsfairvalueandtheactuallyobtainedpriceshallberecordedintocurrentprofitsorlosses.Fortheresidualequity,thepartthatstillhassignificanteffectsoninvesteesorwithcommoncontroljointlywithotherpartiesshallbeaccountedinequitymethod;thepartthathasnomorecontrol,commoncontrolorsignificanteffectsoninvesteesshallbeaccountedinaccordancewiththerelevantregulationoftheAccountingStandardsforEnterprisesNo.22-RecognitionandMeasurementofFinancialInstruments.
(2)Consolidatedfinancialstatements
1)Forthedisposaloftheinvestmentinsubsidiariesstepbystepuntilthelossofthecontrollingrightthroughmultipletransactions,whichdonotconstitutethe“packagedeal”Beforethelossofthecontrollingright,forthebalancebetweenthedisposalremunerationandthesharesofnetassetsinthesubsidiariesthathavebeencalculatedsincetheacquisitiondateorcombinationdatecorrespondingtothedisposaloflong-termequityinvestment,capitalreserve(capitalpremium)shallbeadjusted,andifthecapitalpremiumisnotsufficientforthewrite-down,theretainedearningsshallbewrittendown.Atthelossofthecontrollingrightovertheoriginalsubsidiaries,theresidualequityshallbere-measuredatitsfairvalueonthedateoflosingthecontrollingright.Thedifferencebetweentheconsiderationobtainedintheequitydisposal,plusthefairvalueoftheremainingequities,lesstheCompany’sshareofnetassetsenjoyedoftheformersubsidiarythathasbeencalculatedsincetheacquisitiondateorcombinationdateaccordingtotheformershareholdingratio,shallberecordedintotheinvestmentgainsfortheperiodwhenthecontrolceases;meanwhile,goodwillshallbewrittendown.Othercomprehensiveincomerelatedtoformersubsidiary'sequityinvestmentshallbetransferredintocurrentinvestmentincomewhenthecontrolceases.
2)Forthedisposaloftheinvestmentinsubsidiariesstepbystepuntilthelossofthecontrollingrightthroughmultipletransactions,whichconstitutethe“packagedeal”Theaccountingtreatmentshallbecarriedoutonthebasisofconsideringeachtransactionasatransactionofdisposingthesubsidiaryandlosingcontrol.However,beforelosingcontrol,thedifferencebetweeneachdisposalpricebeforelosingthecontrol,andthecorrespondingnetassetsshareenjoyedofsubsidiarywhendisposinglong-termequityinvestment,shallberecognizedasothercomprehensiveincomeintheconsolidatedfinancialstatementsandwhenthecontrolceases,transferredintocurrentprofitsorlossesoftheperiodoflosingcontrol.
23.InvestmentPropertyMeasurementmodeofinvestmentrealestatesMeasurementofcostmethodDepreciationoramortizationmethod
1.Theterm"investmentrealestate"includestherighttouseanylandwhichhasalreadybeenrented,therighttouseanylandwhichisheldandpreparedfortransferafterappreciation,andtherighttouseanybuildingwhichhasalreadybeenrented.
2.TheCompanyinitiallymeasurestheinvestmentpropertyaccordingtothecosts,andadoptsthecostmethodinthesubsequentmeasurementofinvestmentproperty,andadoptsthesamemethodswithfixedassetsandintangibleassetstowithdrawdepreciationoramortization.
24.FixedAssets
(1)RecognizedStandardofFixedAssetsTheterm"fixedassets"referstothetangibleassetsthatsimultaneouslypossessthefeaturesasfollows:theyareheldforthesakeofproducingcommodities,renderinglaborservice,rentingorbusinessmanagement;andtheirusefullifeisinexcessofonefiscalyear.Nofixedassetmayberecognizedunlessitsimultaneouslymeetstheconditionsasfollows:(1)Theeconomicbenefitsarelikelytoflowintotheenterprise;(2)Thecostofthefixedassetcanbemeasuredreliably.
(2)DepreciationMethod
| Category | Depreciationmethod | Usefullife(year) | Expectednetsalvagevalue | Annualdeprecation |
| Housesandbuildings | Straight-linedepreciation | 20-25 | 5-10 | 3.6-4.75 |
| Transportation | Straight-linedepreciation | 5 | 5 | 19 |
| Otherequipment | Straight-linedepreciation | 5 | 5 | 19 |
| Machineryequipment | Straight-linedepreciation | 5 | 5 | 19 |
| Decorationoffixedassets | Straight-linedepreciation | 5 | 0 | 20 |
(3)RecognitionBasis,PricingandDepreciationMethodofFixedAssetsbyFinanceLease
Notapplicable.
25.ConstructioninProgress
1.Noconstructioninprogressmayberecognizedunlessitsimultaneouslymeetstheconditionsasfollows:(1)Theeconomicbenefitsarelikelytoflowintotheenterprise;(2)Thecostofthefixedassetcanbemeasuredreliably.Constructioninprogressshallbemeasuredaccordingtotheoccurredactualcostsbeforetheassetsavailablefortheintendeduse.
2.Whentheconstructioninprogressisavailablefortheintendeduse,itshallbetransferredtofixedassetsaccordingtotheactualcostoftheproject.Forconstructioninprogressavailablefortheintendedusebutnotdealingwithfinalaccountsofcompletedproject,itshallbetransferredtofixedassetsaccordingtotheestimatedvaluefirst,andthenadjustoriginaltemporarilyestimatedvaluebasedontheactualcostsafterthefinalaccountsofcompletedproject,butnotadjustthedepreciationthatwasalreadycalculated.
26.BorrowingCosts
1.RecognitionPrincipleofCapitalizationofBorrowingCostsWheretheborrowingcostsincurredtotheCompanycanbedirectlyattributabletotheacquisitionandconstructionorproductionofassetseligibleforcapitalization,itshallbecapitalizedandrecordedintothecostsofrelevantassets.Otherborrowingcostsshallberecognizedasexpenseswhenitoccurred,andshallberecordedintothecurrentprofitsandlosses.
2.CapitalizationPeriodofBorrowingsCosts
(1)Theborrowingcostsshallnotbecapitalizedunlesstheysimultaneouslymeetthefollowingrequirements:1)Theassetdisbursementshavealreadyincurred;2)Theborrowingcostshavealreadyincurred;3)Theacquisitionandconstructionorproductionactivitieswhicharenecessarytopreparetheassetforitsintendeduseorsalehavealreadystarted.
(2)Wheretheacquisitionandconstructionorproductionofaqualifiedassetisinterruptedabnormallyandtheinterruptionperiodlastsformorethan3months,thecapitalizationoftheborrowingcostsshallbesuspended.Theborrowingcostsincurredduringsuchperiodshallberecognizedasexpenses,andshallberecordedintotheprofitsandlossesofthecurrentperiod,tilltheacquisitionandconstructionorproductionoftheassetrestarts.
(3)Whentheacquisitionandconstructionorproductionofaqualifiedasseteligibleforcapitalizationareavailableforitsintendeduseorsale,thecapitalizationofborrowingcostsshallbestopped.
3.CapitalizedrateandamountofborrowingcostsTotheextentthatfundsareborrowedspecificallyforthepurposeofacquiringorconstructingaqualifyingasset,theamountofborrowingcostseligibleforcapitalizationonthatassetisdeterminedastheactualinterestcosts(includingamortizationofdiscountandpremiumconfirmedaccordingtoeffectiveinterestmethod)incurredonthatborrowingduringtheperiodlessanyinvestment
incomeonthetemporaryinvestmentoftheborrowing.Totheextentthatfundsareborrowedgenerallyandusedforthepurposeofacquiringorconstructingaqualifyingasset,theamountofborrowingcostseligibleforcapitalizationshallbedeterminedbyapplyingacapitalizationratetotheweightedaverageofexcessofaccumulatedexpendituresonqualifyingassetoverthatonspecificpurposeborrowing.
27.BiologicalAssets
Notapplicable.
28.OilandGasAssetsNotapplicable.
29.Right-of-useAssetsNotapplicable.
30.IntangibleAssets
(1)PricingMethod,UsefulLifeandImpairmentTest
1.Intangibleassetsincluderighttouselandsites,userightofsoftwareetc.andconducttheinitialmeasurementaccordingtothecosts.
2.Withregardtointangibleassetswithlimitedservicelife,itshallbeamortizedsystematicallyandreasonablywithintheirservicelifeaccordingtotheexpectedimplementationofeconomicinterestsrelatedtotheintangibleassets.Ifitcan’trecognizetheexpectedimplementationreliably,itshallbeamortizedbystraight-linemethod.Thespecificusefullivesareasfollows:
| Items | Usefullifeforamortization(years) |
| Userightoflands | Statutorylifeoflanduseright |
| Userightofsoftware | 5 |
Theintangibleassetswithuncertainservicelifeshallnotbeamortized,andtheCompanyrecheckstheservicelifeoftheintangibleassetsineveryaccountingperiod.Forintangibleassetswithuncertainservice,therecognitionbasisiswithoutcertainservicelifeandexpectedbenefitlife.
(2)AccountingPoliciesofInternalR&DExpenses
Notapplicable.
31.ImpairmentofLong-termAssetsForlong-termassets,suchasinvestmentpropertymeasuredbycostmodel,fixedassets,constructioninprogress,andintangibleassetswithlimitedservicelifemeasuredbycostmodel,theCompanyshallestimatetherecoverableamountiftherearesignsofimpairmentonbalancesheetdate.Forintangibleassetswithuncertaingoodwillorservicelifeformedbyenterprisecombination,whetherornotthereissignofimpairment,impairmenttestshallbeconductedeveryyear.Goodwillcombinationanditsrelatedassetsgrouporcombinationofassetsgroupshallbeconductedtheimpairmenttest.
Iftherecoverableamountoftheabove-mentionedlong-termassetsislowerthanitscarryingvalue,itshallmakethepreparationforassetsimpairmentbasedonitsbalanceandberecordedintocurrentprofitsandlosses.
32.Long-termPrepaidExpensesLong-termdeferredexpensesrefertogeneralexpenseswiththeamortizedperiodoveroneyear(oneyearexcluded)thathaveoccurred.Long-termprepaidexpenseshallberecordedintotheaccountaccordingtotheactualaccrual.Long-termprepaidexpenseshallbeamortizedaveragelywithinbenefitperiodorspecifiedperiod.Incaseofnobenefitinthefutureaccountingperiod,theamortizedvalueofsuchprojectthatfailstobeamortizedshallbetransferredintotheprofitsandlossesofthecurrentperiod.
33.ContractLiabilitiesTheCompanypresentscontractassetsorcontractliabilitiesonthebalancesheetaccordingtotherelationshipbetweenthefulfillmentofitscontractperformanceobligationsanditscustomers’payment.ObligationstobefulfilledbytheCompanyoftransferringcommoditiesorprovidingservicestocustomers,astheCompanyhasreceivedorshouldreceivecustomers’considerations,arepresentedascontractliabilities.
34.Payroll
(1)AccountingTreatmentofShort-termCompensationDuringtheaccountingperiodwhentheemployeesprovidingtheservicefortheCompany,theactualshort-termcompensationshallberecognizedasliabilities,andberecordedintothecurrentprofitsandlossesorrelatedassetscosts.
(2)AccountingTreatmentoftheWelfareafterDemissionTheCompany'swelfareafterdemissionplansisdividedintodefinedcontributionplansanddefinedbenefitplans(1)DuringtheaccountingperiodwhentheemployeeprovidingservicefortheCompany,theamountpaidinlinewiththesettingdrawingplanwillberecognizedasliabilitiesandrecordedintocurrentprofitsorlossesorcostofrelevantassets.
(2)Theaccountingtreatmentofdefinedbenefitplansusuallyconsistsofthefollowingsteps:
1)Accordingtotheexpectedcumulativewelfareunitmethod,adoptunbiasedandmutuallyconsistentactuarialassumptionstoevaluaterelateddemographicvariablesandfinancialvariables,measuretheobligationsgeneratedfromdefinedbenefitplansandrecognizetheperiodinrespectofrelatedobligations.Meanwhile,discounttheobligationsgeneratedfromdefinedbenefitplanstorecognizetheirpresentvalueandthecurrentservicecosts;
2)Ifthereareanyassetsinadefinedbenefitplan,thedeficitorsurplusformedfromthepresentvalueofthedefinedbenefitplanobligationslessthefairvalueofthedefinedbenefitplanassetsshallberecognizedasnetliabilitiesornetassetsofadefinedbenefitplan.Ifthereisanysurplusinadefinedbenefitplan,thenetassetsoftheplanshallbemeasuredatthelowerofthesurplusortheupperassetlimit;
3)Attheendoftheperiod,thestaffremunerationcostsgeneratedfromadefinedbenefitplanshallberecognizedasservicescosts,netinterestsofthenetliabilitiesornetassetsoftheplanandchangesfromthere-measurementofthenetliabilitiesornetassetsoftheplan.Servicecostsandnetinterestsofthenetliabilitiesornetassetsoftheplanshallberecordedintothecurrentprofitsorlossesorrelatedassetcosts,whilechangesfromthere-measurementofthenetliabilitiesornetassetsoftheplanshallberecordedintoothercomprehensiveincomeandshallnotbetransferredbacktoprofitsorlossesinsubsequentaccountingperiods.Buttheamountsrecognizedinothercomprehensiveincomemaybetransferredwithintheequityscope.
(3)AccountingTreatmentofDemissionWelfare
WhentheCompanyisunabletounilaterallywithdrawtheplanonthecancellationoflaborrelationshiporthelayoffproposal,orwhenrecognizingthecostsorexpenses(theearlieronebetweenthetwo)relatedtothereorganizationofpayingthedemission
welfare,shouldrecognizethepayrollliabilitiesfromthedemissionwelfareandincludeinthecurrentgainsandlosses.
(4)AccountingTreatmentofOtherWelfareoftheLong-termEmployeesTheCompanyprovidestheotherlong-termemployeebenefitsfortheemployees,andforthosemetwiththedefinedcontributionplans,accountingtreatmentshouldbeconductedaccordingtotherelatedregulationsofthedefinedcontributionplans;thefortheotherslong-termemployeebenefitsexceptfortheformer,accountingtreatmentshouldbeconductedaccordingtotherelatedregulationsofthedefinedbenefitplans.Inordertosimplifytherelatedaccountingtreatment,thepayrollsshallberecognizedasservicecosts,thenetamountofinterestofnetliabilitiesandnetassetsofotherwelfareofthelong-termemployees.Thetotalnetamountsmadeupfromthechangesofmeasuringthenetliabilitiesandnetassetsofotherwelfareofthelong-termemployeesagainshallberecordedintothecurrentprofitsandlossesorrelatedassetscosts.
35.LeaseLiabilitiesNotapplicable.
36.Provisions
1.Theobligationsuchasexternalguaranty,litigationorarbitration,productqualityassurance,losscontract,pertinenttoacontingenciesshallberecognizedastheprovisionswhenthefollowingconditionsaresatisfiedsimultaneously:①Thatobligationisacurrentobligationoftheenterprise;②Itislikelytocauseanyeconomicbenefittoflowoutoftheenterpriseasaresultofperformanceoftheobligation;and③Theamountoftheobligationcanbemeasuredinareliableway.
2.TheCompanyshallconducttheinitialmeasurementtoprovisionsaccordingtothebestestimatenumberneededforperformingtherelatedcurrentobligationandrecheckthecarryingvalueofaccruedliabilitiesonbalancesheetdate.
37.Share-basedPayment
Notapplicable.
38.OtherFinancialInstrumentssuchasPreferredSharesandPerpetualBondsNotapplicable.
39.Revenue
TheAccountingPolicyAdoptedforRecognitionandMeasurementofRevenue
(1)RecognitionofrevenueTheCompanygainsrevenuemainlyfrompropertysales,propertymanagementandpropertyleasing(referto42.Leasingformoredetail).TheCompanyrecognizesrevenuewhenithasfulfilledtheobligationofcontractperformance,namely,whenithasacquiredthecontroloftherelatedcommodity.Theacquisitionofcontroloveracommodityreferstothecapacitytocontroltheuseofthecommodityandtogainalmostalleconomicintereststhereof.
(2)TheCompanyjudgeswhetheracontractperformanceobligationis“acontractperformanceobligationfulfilledinatimeperiod”or“acontractperformanceobligationfulfilledatatimepoint”accordingtothetermsinrevenuestandards,and
recognizesrevenueaccordingtothefollowingprinciples.
1)WhentheCompanymeetsoneofthefollowingconditions,theobligationshouldbeclassifiedasacontractperformanceobligationfulfilledinaspecifictimeperiod:
1ThecustomergainsandconsumestheeconomicinterestsbroughtbytheCompany’scontractperformancewhentheCompany
performsthecontract.2ThecustomerisabletocontroltheassetsinprogressduringtheCompany’scontractperformance.3TheassetsproducedduringtheCompany’scontractperformancehaveirreplaceableuse,andtheCompanyhastherighttocollectpaymentinrespectofitscompletedcontractperformanceaccumulatedasofnowthroughouttheentirecontractperiod.Foracontractperformanceobligationfulfilledinatimeperiod,theCompanyrecognizesrevenueaccordingtotheprogresstowardscontractcompletioninthatperiod,butexcludingthecasewhensuchprogresscannotbereasonablydetermined.TheCompanyusestheoutputorinputmethodtodeterminetherightprogresstowardscontractcompletionbyconsideringthenatureofthecommodity.
2)Foronethatisclassifiedasacontractperformanceobligationfulfilledatatimepointinsteadofinatimeperiod,theCompanyrecognizesrevenuewhenthecustomeracquiresthecontrolovertherelatedcommodity.Injudgingwhetherthecustomerhasacquiredthecontroloveracommodity,theCompanyconsidersthefollowingsigns:
1TheCompanyisentitledtothecurrentrightofpaymentcollectioninrespectofthecommodity.Inotherwords,thecustomerhas
thecurrentobligationtopayforthecommodity.
2TheCompanyhastransferredthelegalownershipofthecommoditytothecustomer.Inotherwords,thecustomerhasownedthe
legalownershipofthecommodity.3TheCompanyhastransferredthephysicalcommoditytothecustomer.Inotherwords,thecustomerhastakenphysical
possessionofthecommodity.
4TheCompanyhastransferredthemajorrisksandremunerationsinrespectoftheownershipofthecommodity.Inotherwords,
thecustomerhasacquiredthemajorrisksandremunerationsinrespectoftheownershipofthecommodity.5Thecustomerhasacceptedthecommodity.6Othersignsindicatingthatthecustomerhasacquiredcontroloverthecommodity.
SpecificpoliciesoftheCompanyforrecognizingrevenue:
(1)RealEstateSalesContractsTherealizationofsalesrevenueshallberecognizedunderthefollowingconditions:thedevelopedproductshavebeencompletedandaccepted,thesalescontracthasbeensignedandtheobligationsstipulatedinthecontracthavebeenfulfilled,themainrisksandrewardsofownershipofthedevelopedproductshavebeentransferredtothebuyeratthesametime,theCompanyshallnolongerretainthecontinuousmanagementrightsnormallyassociatedwithownershipandeffectivelycontrolthesolddevelopedproducts,therevenueamountcanbemeasuredreliably,therelatedeconomicbenefitsarelikelytoflowin,andtherelatedcoststhathaveoccurredorwilloccurcanbemeasuredreliably.Forthesaleofself-occupiedhousing,therealizationofsalesincomeshallberecognizedunderthefollowingconditions:themainrisksandrewardsofownershipofself-occupiedhousesaretransferredtothebuyer,theCompanywillnolongerretainthecontinuousmanagementrightsnormallyassociatedwithownershipandeffectivelycontrolthesolddevelopmentproducts,theamountofincomecanbemeasuredreliably,relevanteconomicbenefitsarelikelytoflowin,therelevantcoststhathaveoccurredorwilloccurcanbemeasuredreliably.Onlyrecognizingthesalesincomerealizationunderthefollowingconditions:acquiredtherealestatecompletedandacceptedasqualified(thecompletionandacceptancereports),signedanirreversiblesalescontract,obtainedthebuyer'spaymentcertificate(forthosewhochosebankmortgage,thefirstinstallmentandthefullamountofbankmortgagemustberequired;forthosewhodidnotchoosethebankmortgagetomaketheirpayment,thefullhousepaymentmustberequired)issuedthenoticeofrepossession(iftheownerfailstogothroughtheformalitiesintimewithinthespecifiedtimelimitthebuildingshallbedeemedasrepossessed).
(2)ProvidingLaborServices
Iftheprovisionoflaborservicescanbereliablyestimated(allthefollowingconditionsaremet:
①Theamountofincomecanbemeasuredreliably;②TherelevanteconomicbenefitsarelikelytoinflowtotheCompany;③Theprogressofthetransactioncanbereliablydetermined;④Thecostincurredandtobeincurredinthetransactioncanbemeasuredreliably),itshallrecognizetherevenuefromprovidingservicesemployingthepercentage-of-completionmethod,andconfirmthecompletionoflaborserviceaccordingtothecostsincurredasapercentageofthetotalestimatedcosts.IftheCompanycan’t,onthedateofthebalancesheet,reliablyestimatetheoutcomeofatransactionconcerningthelaborservicesitprovides,itshallbehandledunderthefollowingconditions:Ifthecostoflaborservicesincurredisexpectedtobecompensated,therevenuefromtheprovidingoflaborservicesshallberecognizedinaccordancewiththeamountofthecostoflaborservicesincurred,andthecostoflaborservicesshallbecarriedforwardatthesameamount;Ifthecostoflaborservicesincurredisnotexpectedtocompensate,thecostincurredshouldbeincludedinthecurrentprofitsandlosses,andnorevenuefromtheprovidingoflaborservicesmayberecognized.Propertymanagementrevenueshallberecognizedwhenpropertymanagementserviceshavebeenprovided,economicbenefitsrelatedtopropertymanagementservicescanflowintotheenterprise,andcostsrelatedtopropertymanagementcanbereliablymeasured.
(3)TransferringtheRighttoUseAssetsTherevenueoftransferringtherighttouseassetsmaynotberecognizedunlessthefollowingconditionsarebothmet:therelevanteconomicbenefitsarelikelytoinflowtotheCompany;andtherevenuecanbereliablymeasured.TheinterestincomeshallberecognizedaccordingtothetimeandactualinterestrateinwhichotherpeopleusetheCompany’smonetaryfunds.Royaltyrevenueshallberecognizedaccordingtothechargeabletimeandmethodstipulatedinrelatedcontractsandagreements.Accordingtotheleasedateandleaseamountagreedintheleasecontractandagreement,therealizationofrentalpropertyincomeshallberecognizedwhenrelevanteconomicbenefitsarelikelytoflowin.
(4)OtherBusinessIncomeAccordingtothestipulationsofrelevantcontractsandagreements,whentheeconomicbenefitsrelatedtothetransactioncanflowintotheenterpriseandthecostsrelatedtotheincomecanbereliablymeasured,therealizationofotherbusinessincomeshallbeconfirmed.
(3)MeasurementofRevenueTheCompanyshouldmeasurerevenueaccordingtothetransactionpricesapportionedtoeachoftheindividualcontractperformanceobligations.Indeterminingatransactionprice,theCompanyconsiderstheimpactofanumberoffactors,includingvariableconsideration,significantfinancingcomponentsincontracts,non-cashconsideration,andconsiderationpayabletocustomers.
1)VariableconsiderationTheCompanydeterminesthebestestimateofvariableconsiderationaccordingtotheexpectedvalueortheamountmostlikelytooccur.Butatransactionpricecontainingvariableconsiderationshouldnotexceedtheamountfromtheaccumulatedrecognizedrevenuethatwillprobablynothaveanysignificantreversalwhenrelateduncertaintiesareeliminated.Whenassessingwhetherthesignificantreversalofaccumulatedrecognizedrevenueisalmostimpossibleornot,acompanyshouldconcurrentlyconsiderthepossibilityandweightoftherevenuereversal.
2)SignificantfinancingcomponentWhenacontractcontainsanyfinancingcomponent,theCompanyshoulddeterminethetransactionpriceaccordingtotheamountpayablethatisassumedtobepaidincashbythecustomerwhenitacquirescontroloverthecommodity.Thedifferencebetweenthetransactionpriceandthecontractconsiderationshouldbeamortizedintheeffectiveinterestmethodduringthecontractperiod.
3)Non-cashconsiderationWhenacustomerpaysnon-cashconsideration,theCompanyshoulddeterminethetransactionpriceaccordingtothefairvalueofthenon-cashconsideration.Whensuchfairvaluecannotbereasonablyestimated,theCompanywillindirectlydeterminethetransactionpricebyreferencetotheindividualpricecommittedbytheCompanyfortransferringthecommoditytothecustomer.
4)ConsiderationpayabletoacustomerForconsiderationpayabletoacustomer,theCompanyshoulddeductthetransactionpricefromtheconsiderationpayable,and
deducttherevenueforthecurrentperiodateithertherecognitionofrelatedrevenueorthepayment(orcommittedpayment)oftheconsiderationtothecustomer,whicheverisearlier,butexcludingthecaseinwhichtheconsiderationpayabletothecustomerisforthepurposeofacquiringfromthecustomerothercommoditiesthatcanbeobviouslydistinguished.IftheCompany’sconsiderationpayabletoacustomerisforthepurposeofacquiringfromthecustomerothercommoditiesthatcanbeobviouslydistinguished,theCompanyshouldconfirmthecommoditypurchasedinthesamewayasinitsotherpurchases.WhentheCompany’sconsiderationpayabletoacustomerexceedsthefairvalueofthecommoditythatcanbeobviouslydistinguished,theexceededamountshouldbeusedtodeductthetransactionprice.Ifthefairvalueofthecommodityacquiredfromthecustomerthatcanbeobviouslydistinguishedcannotbereasonablyestimated,theCompanyshoulddeductthetransactionpricefromtheconsiderationpayabletothecustomer.DifferencesinaccountingpoliciesfortherecognitionofrevenuecausedbydifferentbusinessmodelsforthesametypeofbusinessNotapplicable.
40.GovernmentGrants
1.Ifthegovernmentsubsidiesmeetwiththefollowingconditionsatthesame,itshouldberecognized:(1)Theentitywillcomplywiththeconditionattachingtothem;(2)Thegrantswillbereceivedfromgovernment.Ifagovernmentsubsidyisamonetaryasset,itshallbemeasuredaccordingtotheamountreceivedorreceivable.Ifagovernmentsubsidyisanon-monetaryasset,itshallbemeasuredatitsfairvalue,andshallbemeasuredatanominalamountwhenthefairvaluecannotbeobtainedreliably.
2.JudgmentbasisandaccountingmethodsofgovernmentsubsidiesrelatedtoassetsThegovernmentsubsidiesthatareacquiredforconstructionorformlong-termassetsinotherwaysaccordingtogovernmentdocumentsshallbedefinedasasset-relatedgovernmentsubsidies.Forthosenotspecifiedingovernmentdocuments,thejudgmentshallbemadebasedonthecompulsoryfundamentalconditionsforacquiringthesubsidies.Ifthesubsidiesareacquiredwithconstructionortheformationoflong-termassetsinotherwaysasfundamentalconditions,theyshallberecognizedasasset-relatedgovernmentsubsidies.Forasset-relatedgovernmentsubsidies,thecarryingvalueofrelatedassetsshallbewrittendownorrecognizedasdeferredincome.Ifasset-relatedgovernmentsubsidiesarerecognizedasdeferredincome,itshallberecordedintoprofitsorlossesbyperiodinareasonableandsystemicmannerwithinthelifeofrelatedassets.Governmentsubsidiesmeasuredatthenominalamountshallbedirectlyrecordedintocurrentprofitsorlosses.Ifrelatedassetsaresold,transferred,disposedofordestroyedbeforetheendoftheirlife,theundistributedbalanceofrelateddeferredincomeshallbetransferredintotheprofitsorlossesfortheperiodoftheassetdisposal.
3.Judgmentbasisandaccountingtreatmentofprofits-relatedgovernmentsubsidiesGovernmentsubsidiesotherthanasset-relatedgovernmentsubsidiesshallbedefinedasprofits-relatedgovernmentsubsidies.Forgovernmentsubsidiesconsistingofbothasset-relatedpartsandprofits-relatedparts,whichisdifficulttojudgewhethertheyarerelatedtoassetsorprofits,theentiretyshallbeclassifiedasprofits-relatedgovernmentsubsidies.Profits-relatedgovernmentsubsidiesthatareusedtocompensatetherelatedfutureexpensesorlossesshallberecognizedasdeferredincomeandshallbeincludedintothecurrentprofit/lossesduringtheperiodwhentherelevantexpensesorlossesarerecognized;thosesubsidiesusedtocompensatetherelatedexpensesorlossesincurredshallbedirectlyincludedintothecurrentprofits/losses.
4.GovernmentsubsidiesrelatedtotheCompany’sroutineoperatingactivitiesshallbeincludedintootherincomeorwritedownrelatedcostsaccordingtotheeconomicbusinessnature.GovernmentsubsidiesnotrelatedtotheCompany’sroutineactivitiesshallbeincludedintonon-operatingincomeandexpenditure.
41.DeferredIncomeTaxAssets/DeferredIncomeTaxLiabilities
1.Inaccordancewiththebalance(theitemnotrecognizedasassetsandliabilitiescanconfirmtheirtaxbasesaccordingtothetaxlaw,thebalancebetweenthetaxbasesanditscarryingamount)betweenthecarryingamountofassetsorliabilitiesandtheirtax
bases,deferredtaxassetsanddeferredtaxliabilitiesshouldberecognizedatthetaxratesthatareexpectedtoapplytotheperiodwhentheassetisrealizedortheliabilityissettled.
2.Adeferredtaxassetshallberecognizedwithinthelimitoftaxableincomethatislikelytobeobtainedtooffsetthedeductibletemporarydifferences.Atthebalancesheetdate,wherethereisstrongevidenceshowingthatsufficienttaxableprofitwillbeavailableagainstwhichthedeductibletemporarydifferencecanbeutilized,thedeferredtaxassetunrecognizedinpriorperiodshallberecognized.
3.TheCompanyassessesthecarryingamountofdeferredtaxassetatthebalancesheetdate.Ifit’sprobablethatsufficienttaxableprofitwillnotbeavailableagainstwhichthedeductibletemporarydifferencecanbeutilized,theCompanyshallwritedownthecarryingamountofdeferredtaxasset,orreversetheamountwrittendownlaterwhenit’sprobablethatsufficienttaxableprofitwillbeavailable.
4.ThecurrentincometaxanddeferredincometaxoftheCompanyarerecordedintothecurrentgainsandlossesasincometaxexpensesorrevenue,exceptinthefollowingcircumstances:(1)Businesscombination;(2)Thetransactionoreventdirectlyincludedinowner’equity.
42.Lease
(1)AccountingTreatmentofOperatingLeaseAsaLessee,theCompanyshallrecordtherentintorelevantassetscostorrecognizeitasthecurrentprofitorlossonastraight-linebasisovertheleaseterm.Theinitialdirectcostsincurredshallberecognizedasthecurrentprofitorloss;Contingentrentsshallbechargedintothecurrentprofitorlosswhentheyareincurred.TheCompanyasalessorrecognizesthepaymentfromitsoperatingleaseasrentalrevenueinthestraightlinemethodindifferentperiodsofaleaseterm.Itcapitalizestheinitialdirectcostsincurredrelatingtotheoperatinglease,amortizesthecostsonthesamebasisfortherecognitionofrentalrevenueduringtheleaseterm,andrecordsthemintocurrentprofits/lossesacrossdifferentperiods.Forthefixedassetsinoperatingleaseassets,theCompanyshoulddepreciatethemaccordingtothedepreciationpolicyforsimilarassets;forotheroperatingleaseassets,theCompanyshouldamortizetheminsystematicandreasonablemethodsaccordingtotheaccountingstandardsforbusinessenterprisesapplicationtosuchassets.TheCompanydetermineswhetherthereisanyimpairmenttoitsoperatingleaseassetsaccordingtotheAccountingStandardsforBusinessEnterprisesNo.8-ImpairmentofAssets,andperformsthecorrespondingaccountingtreatment.
(2)AccountingTreatmentsofFinancialLeaseForthelessee,afixedassetacquiredunderfinanceleaseshallbevaluedatthelowerofthefairvalueoftheleasedassetandthepresentvalueoftheminimumleasepaymentsattheinceptionoflease.Theminimumleasepaymentsastheenteringvalueinlong-termaccountpayable,thedifferenceasunrecognizedfinancingcharges;theinitialdirectcostsshallbedirectlyrecordedintoleasingassetvalue.Ateachperiodduringtheleaseterm,theeffectiveinterestratemethodshallbeadoptedtocalculateandconfirmthecurrentfinancingcharge.Ontheinitialdateoffinanciallease,lesseeofthefinancialleaseshallrecordthesumoftheminimumleasepaymentsandinitialdirectcostsasthefinancingleaseaccountsreceivable,andalsorecordthenon-guaranteedresidualvalue;recognizethedifferencebetweenthetotalminimumleasepayments,initialdirectcosts,non-guaranteedresidualvalueandsumofthepresentvalueastheunrealizedfinancingincome;Ateachperiodduringtheleaseterm,theeffectiveinterestratemethodshallbeadoptedtocalculateandconfirmthecurrentfinancingincome.
43.OtherImportantAccountingPoliciesandAccountingEstimations
(1)ConfirmationstandardandaccountinghandlingmethodforoperationterminationComponentswhichmeetoneofthefollowingconditions,havebeendisposedordividedasheldforsalecategoryandcanbedistinguishedseparatelyareconfirmedasoperationtermination.
1)Thecomponentrepresentsoneimportantindependentmainbusinessoronesinglemainoperationarea.
2)Thecomponentisonepartofarelatedplanwhichplanstodisposeoneindependentmainbusinessoronesinglemainoperationarea.
3)Thecomponentisasubsidiarywhichisobtainedforresalespecially.
(2)AccountingMethodforMaintenancefundandQualityDeposit
1)MaintenancefundaccountingmethodAccordingtothelocalrelevantregulationsofthedevelopmentproject,themaintenancefundshallcollectfromthebuyers,orwithdrawfromthedevelopmentcostsoftheCompany’srelevantdevelopmentproductswhendevelopmentproductssell(pre-sell),andshalluniformlyturnthemovertothemaintenancefundmanagementdepartment.
2)QualitydepositaccountingmethodThequalityguaranteefundshallbereservedfromtheprojectfundoftheconstructionunitaccordingtotheprovisionsoftheconstructioncontract.Maintenancefeesincurredduringthewarrantyperiodofthedevelopedproductsshallbeoffsetagainstthequalityguaranteedeposit;Aftertheexpirationofthewarrantyperiodagreeduponinthedevelopmentofproducts,thebalanceofthequalityguaranteedepositshallbereturnedtotheconstructionunit.
(3)SegmentalreportTheGrouprecognizestheoperatingsegmentsaccordingtotheinternalorganizationstructure,themanagementrequirementsandtheinternalreportsystem.OperatingsegmentsrefertothecomposepartsoftheGroupwhichmeetwiththefollowingconditionsatthesametime:
1)thecomposepartcouldcauserevenuesandexpensesinthedailyactivities;
2)themanagementlayercouldperiodicallyevaluatetheoperationresultsofthecomposepartandbasewhichtodistributetheresourcesandevaluatetheperformance;
3)theGroupcouldacquiretherelevantaccountinginformationofthefinancialconditions,operationresultsandthecashflowsofthecomposepartthroughanalysis.
44.ChangesinMainAccountingPoliciesandEstimates
(1)ChangeofAccountingPolicies
□Applicable√Notapplicable
(2)ChangesinAccountingEstimates
□Applicable√Notapplicable
(3)AdjustmentstotheFinancialStatementsattheBeginningoftheFirstExecutionYearofanyNewStandardsGoverningRevenueorLeasessince2020ApplicableWhetheritemsofbalancesheetsatthebeginningoftheyearneedtobeadjusted
√Yes□NoConsolidatedbalancesheet
Unit:RMB
| Item | 31December2019 | 1January2020 | Adjustment |
| Currentassets: | |||
| Monetaryassets | 3,297,890,935.91 | 3,297,890,935.91 | |
| Settlementreserve | |||
| Interbankloansgranted | |||
| Held-for-tradingfinancialassets | |||
| Derivativefinancialassets | |||
| Notesreceivable | |||
| Accountsreceivable | 216,923,663.25 | 216,923,663.25 | |
| Accountsreceivablefinancing | |||
| Prepayments | 69,546,774.17 | 69,546,774.17 | |
| Premiumsreceivable | |||
| Reinsurancereceivables | |||
| Receivablereinsurancecontractreserve | |||
| Otherreceivables | 917,981,165.74 | 917,981,165.74 | |
| Including:Interestreceivable | |||
| Dividendsreceivable | |||
| Financialassetspurchasedunderresaleagreements | |||
| Inventories | 4,913,510,876.66 | 4,913,510,876.66 | |
| Contractassets | |||
| Assetsheldforsale | |||
| Currentportionofnon-currentassets | |||
| Othercurrentassets | 42,500,585.94 | 42,500,585.94 | |
| Totalcurrentassets | 9,458,354,001.67 | 9,458,354,001.67 | |
| Non-currentassets: | |||
| Loansandadvancestocustomers | |||
| Investmentsindebt |
| obligations | |||
| Investmentsinotherdebtobligations | |||
| Long-termreceivables | |||
| Long-termequityinvestments | 45,076,122.72 | 45,076,122.72 | |
| Investmentsinotherequityinstruments | 1,580,475.86 | 1,580,475.86 | |
| Othernon-currentfinancialassets | |||
| Investmentproperty | 503,323,428.61 | 503,323,428.61 | |
| Fixedassets | 93,557,782.83 | 93,557,782.83 | |
| Constructioninprogress | |||
| Productivelivingassets | |||
| Oilandgasassets | |||
| Right-of-useassets | |||
| Intangibleassets | 700,369.66 | 700,369.66 | |
| Developmentcosts | |||
| Goodwill | |||
| Long-termprepaidexpense | 7,034,472.79 | 7,034,472.79 | |
| Deferredincometaxassets | 658,153,122.73 | 658,153,122.73 | |
| Othernon-currentassets | 4,711,963.66 | 4,711,963.66 | |
| Totalnon-currentassets | 1,314,137,738.86 | 1,314,137,738.86 | |
| Totalassets | 10,772,491,740.53 | 10,772,491,740.53 | |
| Currentliabilities: | |||
| Short-termborrowings | |||
| Borrowingsfromthecentralbank | |||
| Interbankloansobtained | |||
| Held-for-tradingfinancialliabilities | |||
| Derivativefinancialliabilities | |||
| Notespayable | |||
| Accountspayable | 577,689,139.10 | 577,689,139.10 | |
| Advancesfromcustomers | 728,186,032.63 | 33,972,360.94 | -694,213,671.69 |
| Contractliabilities | 694,213,671.69 | 694,213,671.69 | |
| Financialassetssoldunderrepurchaseagreements | |||
| Customerdepositsandinterbankdeposits | |||
| Payablesforactingtradingofsecurities | |||
| Payablesforunderwritingofsecurities | |||
| Employeebenefitspayable | 143,493,868.80 | 143,493,868.80 | |
| Taxespayable | 2,598,283,291.68 | 2,598,283,291.68 | |
| Otherpayables | 1,149,104,928.85 | 1,149,104,928.85 | |
| Including:Interestpayable | |||
| Dividendspayable | 12,202,676.04 | 12,202,676.04 | |
| Handlingchargesandcommissionspayable | |||
| Reinsurancepayables | |||
| Liabilitiesdirectlyassociatedwithassetsheldforsale | |||
| Currentportionofnon-currentliabilities | 3,921,032.24 | 3,921,032.24 | |
| Othercurrentliabilities | |||
| Totalcurrentliabilities | 5,200,678,293.30 | 5,200,678,293.30 | |
| Non-currentliabilities: | |||
| Insurancecontractreserve | |||
| Long-termborrowings | 2,193,833,000.00 | 2,193,833,000.00 | |
| Bondspayable | |||
| Including:Preferredshares | |||
| Perpetualbonds | |||
| Leaseliabilities | |||
| Long-termpayables | |||
| Long-termemployeebenefitspayable | |||
| Provisions | 2,903,327.87 | 2,903,327.87 |
| Deferredincome | 341,259.63 | 341,259.63 |
| Deferredincometaxliabilities | 3,821.08 | 3,821.08 |
| Othernon-currentliabilities | 108,164,737.46 | 108,164,737.46 |
| Totalnon-currentliabilities | 2,305,246,146.04 | 2,305,246,146.04 |
| Totalliabilities | 7,505,924,439.34 | 7,505,924,439.34 |
| Owners’equity: | ||
| Sharecapital | 595,979,092.00 | 595,979,092.00 |
| Otherequityinstruments | ||
| Including:Preferredshares | ||
| Perpetualbonds | ||
| Capitalreserves | 80,488,045.38 | 80,488,045.38 |
| Less:Treasurystock | ||
| Othercomprehensiveincome | -2,698,371.44 | -2,698,371.44 |
| Specificreserve | ||
| Surplusreserves | 17,060,448.05 | 17,060,448.05 |
| Generalreserve | ||
| Retainedearnings | 2,457,119,795.39 | 2,457,119,795.39 |
| TotalequityattributabletoownersoftheCompanyastheparent | 3,147,949,009.38 | 3,147,949,009.38 |
| Non-controllinginterests | 118,618,291.81 | 118,618,291.81 |
| Totalowners’equity | 3,266,567,301.19 | 3,266,567,301.19 |
| Totalliabilitiesandowners’equity | 10,772,491,740.53 | 10,772,491,740.53 |
Notestotheadjustments
TheCompanystartstoimplementtheAccountingStandardsforBusinessEnterprisesNo.14-RevenuerevisedbytheMinistryofFinancesince1January2020.Asrequiredbytheconnectionregulationfortheoldandnewstandards,theinformationofcomparativeperiodwasnotadjusted,andthebeginningretainedearningsorothercomprehensiveincomeoftheReportingPeriodshallberetroactivelyadjustedforthedifferencebetweentheoriginalstandardsandthenewonewhenimplementedonthefirstexecutiondate.
BalancesheetoftheCompanyastheparent
Unit:RMB
| Item | 31December2019 | 1January2020 | Adjustment |
| Currentassets: |
| Monetaryassets | 2,455,001,204.14 | 2,455,001,204.14 |
| Held-for-tradingfinancialassets | ||
| Derivativefinancialassets | ||
| Notesreceivable | ||
| Accountsreceivable | 755,932.14 | 755,932.14 |
| Accountsreceivablefinancing | ||
| Prepayments | 496,729.09 | 496,729.09 |
| Otherreceivables | 501,082,153.81 | 501,082,153.81 |
| Including:Interestreceivable | ||
| Dividendsreceivable | ||
| Inventories | 624,499,208.02 | 624,499,208.02 |
| Contractassets | ||
| Assetsheldforsale | ||
| Currentportionofnon-currentassets | ||
| Othercurrentassets | 1,113,935.28 | 1,113,935.28 |
| Totalcurrentassets | 3,582,949,162.48 | 3,582,949,162.48 |
| Non-currentassets: | ||
| Investmentsindebtobligations | ||
| Investmentsinotherdebtobligations | ||
| Long-termreceivables | ||
| Long-termequityinvestments | 1,070,542,003.11 | 1,070,542,003.11 |
| Investmentsinotherequityinstruments | 1,810,975.86 | 1,810,975.86 |
| Othernon-currentfinancialassets | ||
| Investmentproperty | 312,638,785.76 | 312,638,785.76 |
| Fixedassets | 26,337,488.29 | 26,337,488.29 |
| Constructioninprogress | ||
| Productivelivingassets |
| Oilandgasassets | ||
| Right-of-useassets | ||
| Intangibleassets | ||
| Developmentcosts | ||
| Goodwill | ||
| Long-termprepaidexpense | 605,416.29 | 605,416.29 |
| Deferredincometaxassets | 343,958,821.07 | 343,958,821.07 |
| Othernon-currentassets | 1,613,657,031.92 | 1,613,657,031.92 |
| Totalnon-currentassets | 3,369,550,522.30 | 3,369,550,522.30 |
| Totalassets | 6,952,499,684.78 | 6,952,499,684.78 |
| Currentliabilities: | ||
| Short-termborrowings | ||
| Held-for-tradingfinancialliabilities | ||
| Derivativefinancialliabilities | ||
| Notespayable | ||
| Accountspayable | 64,503,938.37 | 64,503,938.37 |
| Advancesfromcustomers | 320,469.53 | 320,469.53 |
| Contractliabilities | ||
| Employeebenefitspayable | 36,735,205.68 | 36,735,205.68 |
| Taxespayable | 1,322,751,671.37 | 1,322,751,671.37 |
| Otherpayables | 3,146,684,268.89 | 3,146,684,268.89 |
| Including:Interestpayable | ||
| Dividendspayable | ||
| Liabilitiesdirectlyassociatedwithassetsheldforsale | ||
| Currentportionofnon-currentliabilities | ||
| Othercurrentliabilities | ||
| Totalcurrentliabilities | 4,570,995,553.84 | 4,570,995,553.84 |
| Non-currentliabilities: | ||
| Long-termborrowings |
| Bondspayable | ||
| Including:Preferredshares | ||
| Perpetualbonds | ||
| Leaseliabilities | ||
| Long-termpayables | ||
| Long-termemployeebenefitspayable | ||
| Provisions | ||
| Deferredincome | ||
| Deferredincometaxliabilities | ||
| Othernon-currentliabilities | 40,000,000.00 | 40,000,000.00 |
| Totalnon-currentliabilities | 40,000,000.00 | 40,000,000.00 |
| Totalliabilities | 4,610,995,553.84 | 4,610,995,553.84 |
| Owners’equity: | ||
| Sharecapital | 595,979,092.00 | 595,979,092.00 |
| Otherequityinstruments | ||
| Including:Preferredshares | ||
| Perpetualbonds | ||
| Capitalreserves | 53,876,380.11 | 53,876,380.11 |
| Less:Treasurystock | ||
| Othercomprehensiveincome | -2,051,268.24 | -2,051,268.24 |
| Specificreserve | ||
| Surplusreserves | 16,403,637.61 | 16,403,637.61 |
| Retainedearnings | 1,677,296,289.46 | 1,677,296,289.46 |
| Totalowners’equity | 2,341,504,130.94 | 2,341,504,130.94 |
| Totalliabilitiesandowners’equity | 6,952,499,684.78 | 6,952,499,684.78 |
Notestotheadjustments
(4)RetroactiveAdjustmentstoComparativeDataofPriorYearswhenFirstExecutionofanyNewStandardsGoverningRevenueorLeasessince2020
√Applicable□NotapplicableInaccordancewiththecoherentregulationsofthenewrevenuestandards,theCompanyhasstartedtodiscloseaccountingstatementsaccordingtotherequirementsofthenewrevenuestandardssincethefirstquarterof2020,withnoretroactiveadjustmenttothecomparabledataof2019,andthusnoimpactontheCompany’srelatedfinancialindicatorsof2019.ItisexpectedthattheimplementationofthenewrevenuestandardswillnotresultinsignificantchangesintheCompany’smethodofrecognizingitsrevenue,andthuswillnotproducesignificantinfluenceontheitsnetprofits,totalassetsandnetassetsforboththepreviousandcurrentperiods.
45.Other
IntheNoteofthefinancialstatements,thedataoftheperiod-beginningreferstothefinancialstatementdataon1January2020;thedataoftheperiod-endreferstothefinancialstatementdataon30June2020;theReportingPeriodreferstothefirsthalfof2020;thesameperiodoflastyearreferstothefirsthalfof2019.ThesametotheCompanyastheparent.VITaxes
1.MainTaxesandTaxRates
| Categoryoftaxes | Taxbasis | Taxrate |
| VAT | Salesofgoodsorprovisionoftaxableservices | [Note1] |
| Urbanmaintenanceandconstructiontax | Turnovertaxpayable | Appliedto7%,1%separatelyaccordingtotheregionallevel |
| Enterpriseincometax | Taxableincome | 25%[Note2] |
| VATofland | Addedvaluegeneratedfrompaidtransferoftheuserightofstate-ownedlandsandpropertyrightofabove-groundbuildingsandotherattachments | Fourprogressivelevelswiththetaxraterangingfrom30%to60%oftransferringrealestateaddedvalue |
| Realestatetax | Leviedaccordingtoprice:paidaccordingto1.2%oftheresidualvalueoftherealestate’soriginalvalueafterdeducted30%atonce;leviedaccordingtolease:paidaccordingto12%oftherentalincome | |
| Educationsurcharge | Turnovertaxpayable | 3% |
| Localeducationsurcharge | Turnovertaxpayable | 2% |
Notesofthedisclosuresituationofthetaxpayingbodieswithdifferententerprisesincometaxrate
| Name | Incometaxrate |
| ChongqingShenzhenInternationalTradeCenterProperty | 15% |
| ManagementCo.,Ltd. | |
| ShenzhenSZPRDHousingAssetsOperationandManagementCo.,Ltd. | 20% |
| ShenzhenGuomaoCateringCo.,Ltd. | 20% |
| ShenzhenPropertyEngineeringandConstructionSupervisionCo.,Ltd. | 20% |
| ShenzhenJulianHumanResourcesDevelopmentCo.,Ltd. | 20% |
| ShenzhenHuazhengpengPropertyManagementDevelopmentCo.,Ltd. | 20% |
| ShenzhenJinhailianPropertyManagementCo.,Ltd. | 20% |
| ShenzhenZhongtongdaHouseXiushanServiceCo.,Ltd. | 20% |
| ShenzhenKangpingIndustryCo.,Ltd. | 20% |
| ShenzhenTeacherFamilyTrainingCo.,Ltd. | 20% |
| ShenzhenEducationIndustryCo.,Ltd. | 20% |
| ShenzhenYufaIndustryCo.,Ltd. | 20% |
| ChongqingAoboElevatorCo.,Ltd. | 20% |
| SubsidiariesregisteredinHongKongarea | 16.5% |
| Othertaxpayingbodieswithintheconsolidatedscope | 25% |
2.TaxPreference
AccordingtotheregulationsofNo.2,PropertyServiceofNo.37,CommercialServiceamongtheencouragingcategoryoftheGuidanceCatalogueofIndustryConstructureAdjustment(Y2011),thewesternindustrymetwiththeconditionsshouldbecollectedthecorporateincometaxaccordingto15%ofthetaxrate.ThesubsidiaryoftheGroupChongqingShenzhenInternationalTradeCenterPropertyManagementCo.,Ltd.appliestoabovepolicy.AccordingtotheStateAdministrationofTaxationNoticeontheImplementationofInclusiveTaxReliefPolicyforSmallandMicroEnterprises(Fiscal[2019]No.13),from1January2019,to31December2021,theportionoftheannualtaxableincomeofsmallandmicroenterprisesthatdoesnotexceedRMB1millionshallbeincludedinthetaxableincomeatareducedrateof25%,andtheenterpriseincometaxshallbepaidatataxrateof20%.IftheannualtaxableincomeexceedsRMB1millionanddoesnotexceedRMB3million,itshallbeincludedinthetaxableincomeatareducedrateof50%,andtheenterpriseincometaxshallbepaidatataxrateof20%.Thispolicyappliesto12subsidiariesofourgroupfrom2019onwards,includingChongqingAoboElevatorCo.,Ltd.,ShenzhenInternationalTradeCenterCateringCo.,Ltd.,etc.
3.Other
Note1.TaxableitemsandtaxrateoftheVAToftheCompanyanditssubsidiariesareasfollows:
| Typeoftherevenue | Generalrate | Percentagechargesof |
| Salesofhouseproperty | 9% | 5% |
| Rentofrealestate | 9% | 5% |
| Propertyservice | 6% | 3% |
| Cateringservice | 6% | 3% |
| Others | 13% | -- |
VII.NotestoMajorItemsintheConsolidatedFinancialStatementsoftheCompany
1.MonetaryAssets
Unit:RMB
| Item | Endingbalance | Beginningbalance |
| Cashonhand | 164,191.19 | 130,048.49 |
| Bankdeposits | 3,056,664,559.86 | 3,276,826,087.46 |
| Othermonetaryassets | 22,112,922.57 | 20,934,799.96 |
| Total | 3,078,941,673.62 | 3,297,890,935.91 |
| Ofwhich:thetotalamountdepositedoverseas | 55,767,421.33 | 54,480,940.07 |
| Thetotalamountwithrestrictedrightofuseformortgage,pledgeorfreeze | 22,871,902.65 | 12,545,702.44 |
Othernotes:
OthermonetaryassetswereRMB22,112,922.57,amongwhich,thecashdepositsforguaranteesofRMB1,120,910.60,cashdepositsforL/GofRMB49,020.00,frozenassetsofbank’saccountofRMB7,074,255.32,bankdepositsofRMB3,078,941,673.62includingRMB14,627,716.73ofinterestoffixedtimedepositswithdrawnattheendoftheReportingPeriod.Theabovewasnotrecognizedascashandcashequivalentsforrestrictionsonuse.
2.Held-for-tradingFinancialAssets
Unit:RMB
| Item | Endingbalance | Beginningbalance |
| Ofwhich: | ||
| Ofwhich: |
Othernotes:
3.DerivativeFinancialAssets
Unit:RMB
| Item | Endingbalance | Beginningbalance |
Othernotes:
4.NotesReceivable
(1)NotesReceivableListedbyCategory
Unit:RMB
| Item | Endingbalance | Beginningbalance |
Unit:RMB
| Category | Endingbalance | Beginningbalance | ||||||||
| Carryingamount | Baddebtprovision | Carryingvalue | Carryingamount | Baddebtprovision | Carryingvalue | |||||
| Amount | Proportion | Amount | Withdrawalproportion | Amount | Proportion | Amount | Withdrawalproportion | |||
| Ofwhich: | ||||||||||
| Ofwhich: | ||||||||||
Baddebtprovisionseparatelyaccrued:
Unit:RMB
| Name | Endingbalance | |||
| Carryingamount | Baddebtprovision | Withdrawalproportion | Withdrawalreason | |
Baddebtprovisionwithdrawnaccordingtogroups:
Unit:RMB
| Name | Endingbalance | ||
| Carryingamount | Baddebtprovision | Withdrawalproportion | |
Notesofthebasisofrecognizingthegroup:
Ifthebaddebtprovisionfornotesreceivablewaswithdrawninaccordancewiththegeneralmodelofexpectedcreditlosses,informationrelatedtobaddebtprovisionshallbedisclosedbyreferencetothedisclosuremethodofotherreceivables:
□Applicable√Notapplicable
(2)BadDebtProvisionWithdrawn,ReversedorCollectedduringtheReportingPeriodBaddebtprovisionwithdrawnintheReportingPeriod:
Unit:RMB
| Category | Beginningbalance | Increase/decrease | Endingbalance | |||
| Withdrawn | Reversedorcollected | Verified | Other | |||
Ofwhich,baddebtprovisioncollectedorreversedwithsignificantamount:
□Applicable√Notapplicable
(3)NotesReceivablePledgedbytheCompanyatthePeriod-end
Unit:RMB
| Item | Amount |
(4)NotesReceivablewhichHadEndorsedbytheCompanyorhadDiscountedandhadnotDueontheBalanceSheetDateatthePeriod-end
Unit:RMB
| Item | Amountofrecognitionterminationattheperiod-end | Amountofnotterminatedrecognitionattheperiod-end |
(5)NotesTransferredtoAccountsReceivablebecauseDraweroftheNotesFailedtoExecutetheContractorAgreement
Unit:RMB
| Item | Amountofthenotestransferredtoaccountsreceivableattheperiod-end |
Othernotes:
(6)NotesReceivablewithActualVerificationfortheReportingPeriod
Unit:RMB
| Item | Amount |
Ofwhich,verificationofsignificantnotesreceivable:
Unit:RMB
| Nameoftheentity | Nature | Amount | Reason | Procedure | Whetheroccurredbecauseofrelated-partytransactions |
Notesoftheverificationofnotesreceivable:
5.AccountsReceivable
(1)AccountsReceivableClassifiedbyCategory
Unit:RMB
| Category | Endingbalance | Beginningbalance | ||||||||
| Carryingamount | Baddebtprovision | Carryingvalue | Carryingamount | Baddebtprovision | Carryingvalue | |||||
| Amount | Proportion | Amount | Withdrawal | Amount | Proportion | Amount | Withdrawal | |||
| proportion | proportion | |||||||||
| Accountsreceivablewithsinglebaddebtprovisionaccrued | 106,118,180.93 | 26.14% | 104,557,885.00 | 98.53% | 1,560,295.93 | 106,958,370.47 | 31.79% | 105,293,364.00 | 98.44% | 1,665,006.47 |
| Ofwhich: | ||||||||||
| Accountsreceivablewithbaddebtprovisionwithdrawnaccordingtogroups | 299,789,574.27 | 73.86% | 18,484,443.78 | 6.17% | 281,305,130.49 | 229,476,481.62 | 68.21% | 14,217,824.84 | 6.20% | 215,258,656.78 |
| Ofwhich: | ||||||||||
| Total | 405,907,755.20 | 100.00% | 123,042,328.78 | 30.31% | 282,865,426.42 | 336,434,852.09 | 100.00% | 119,511,188.84 | 35.52% | 216,923,663.25 |
Singlebaddebtprovisionaccrued:
Unit:RMB
| Name | Endingbalance | |||
| Carryingamount | Baddebtprovision | Withdrawalproportion | Withdrawalreason | |
| ShenzhenJiyongProperties&ResourcesDevelopmentCompany | 93,811,328.05 | 93,811,328.05 | 100.00% | Involvedinlawsuitandnoexecutableproperty |
| ShenzhenTeweiIndustryCo.,Ltd. | 2,836,561.00 | 2,836,561.00 | 100.00% | Uncollectibleforalongperiod |
| LunanIndustryCorporation | 2,818,284.84 | 2,818,284.84 | 100.00% | Pooroperatingconditions,uncollectibleforalongperiod |
| Thosewithinsignificantsingleamountforwhichbaddebtprovisionseparatelyaccrued | 6,652,007.04 | 5,091,711.11 | 76.54% | Uncollectibleforalongperiod |
| Total | 106,118,180.93 | 104,557,885.00 | -- | -- |
Singlebaddebtprovisionaccrued:104,557,885.00
Unit:RMB
| Name | Endingbalance | |||
| Carryingamount | Baddebtprovision | Withdrawalproportion | Withdrawalreason | |
Singlebaddebtprovisionaccrued:
Unit:RMB
| Name | Endingbalance | |||
| Carryingamount | Baddebtprovision | Withdrawalproportion | Withdrawalreason | |
Baddebtprovisionwithdrawnaccordingtogroups:
Unit:RMB
| Name | Endingbalance | ||
| Carryingamount | Baddebtprovision | Withdrawalproportion | |
| Within1year | 264,110,788.95 | 7,923,323.67 | 3.00% |
| 1to2years | 20,041,644.72 | 2,004,164.47 | 10.00% |
| 2to3years | 9,164,177.05 | 2,749,253.12 | 30.00% |
| 3to4years | 1,022,267.33 | 511,133.66 | 50.00% |
| 4to5years | 770,636.82 | 616,509.46 | 80.00% |
| Over5years | 4,680,059.40 | 4,680,059.40 | 100.00% |
| Total | 299,789,574.27 | 18,484,443.78 | -- |
Notesofthebasisofrecognizingthegroup:
Baddebtprovisionwithdrawnaccordingtogroups:18,484,443.78
Unit:RMB
| Name | Endingbalance | ||
| Carryingamount | Baddebtprovision | Withdrawalproportion | |
Notesofthebasisofrecognizingthegroup:
Baddebtprovisionwithdrawnaccordingtogroups:
Unit:RMB
| Name | Endingbalance | ||
| Carryingamount | Baddebtprovision | Withdrawalproportion | |
Notesofthebasisofrecognizingthegroup:
Ifthebaddebtprovisionforaccountsreceivablewaswithdrawninaccordancewiththegeneralmodelofexpectedcreditlosses,informationrelatedtobaddebtprovisionshallbedisclosedbyreferencetothedisclosuremethodofotherreceivables:
□Applicable√NotapplicableDisclosedbyaging
Unit:RMB
| Aging | Endingbalance |
| Within1year(including1year) | 264,110,788.95 |
| 1to2years | 20,041,644.72 |
| 2to3years | 9,164,177.05 |
| Over3years | 112,591,144.48 |
| 3to4years | 1,022,267.33 |
| 4to5years | 770,636.82 |
| Over5years | 110,798,240.33 |
| Total | 405,907,755.20 |
(2)BadDebtProvisionWithdrawn,ReversedorCollectedduringtheReportingPeriod
BaddebtprovisionwithdrawnfortheReportingPeriod:
Unit:RMB
| Category | Beginningbalance | Increase/decrease | Endingbalance | |||
| Withdrawn | Reversedorcollected | Verified | Other | |||
| Baddebtprovisionseparatelyaccrued | 105,293,364.00 | 735,479.00 | 104,557,885.00 | |||
| Baddebtprovisionwithdrawnaccordingtogroups | 14,217,824.84 | 6,014,981.36 | 1,748,362.42 | 18,484,443.78 | ||
| Total | 119,511,188.84 | 6,014,981.36 | 2,483,841.42 | 123,042,328.78 | ||
Ofwhich,baddebtprovisionreversedorcollectedwithsignificantamount:
Unit:RMB
| Nameoftheentity | Amountreversedorcollected | Method |
(3)AccountsReceivablewithActualVerificationfortheReportingPeriod
Unit:RMB
| Item | Amountverified |
Ofwhich,verificationofsignificantaccountsreceivable:
Unit:RMB
| Nameoftheentity | Nature | Amountverified | Reasonforverification | Procedure | Whetheroccurredbecauseofrelated-partytransactions |
Notesoftheverificationofaccountsreceivable:
(4)Top5oftheEndingBalanceoftheAccountsReceivableCollectedaccordingtotheArrearsParty
Unit:RMB
| Nameofunits | Endingbalanceofaccountsreceivable | %oftotalendingbalanceofaccountsreceivable | Endingbalanceofbaddebtprovision |
| ShenzhenBayTechnologyDevelopmentCo.,Ltd. | 112,143,815.18 | 27.63% | 3,364,314.46 |
| ShenzhenJiyongProperties&ResourcesDevelopmentCompany | 93,811,328.05 | 23.11% | 93,811,328.05 |
| ShenzhenMeiyaIndustryDevelopmentCo.,Ltd. | 8,282,669.14 | 2.04% | 248,480.07 |
| ShenzhenCanglegeCultureDevelopmentCo.,Ltd. | 7,355,950.65 | 1.81% | 735,595.07 |
| TaoBao(China)SoftwareCo.,Ltd. | 6,733,723.71 | 1.66% | 202,011.71 |
| Total | 228,327,486.73 | 56.25% |
(5)DerecognizitonofAccountsReceivableduetotheTransferofFinancialAssets
(6)TheAmountoftheAssetsandLiabilitiesFormedduetotheTransferandtheContinuedInvolvementofAccountsReceivableOthernotes:
6.AccountsReceivableFinancing
Unit:RMB
| Item | Endingbalance | Beginningbalance |
Increaseordecreaseofaccountsreceivablefinancingandchangesinfairvaluethereof
□Applicable√NotapplicableIfthedepreciationreserveforaccountsreceivablefinancingwaswithdrawninaccordancewiththegeneralmodelofexpectedcreditlosses,theinformationrelatedtodepreciationreserveshallbedisclosedbyreferencetothedisclosuremethodofotherreceivables:
□Applicable√NotapplicableOthernotes:
7.Prepayments
(1)ListbyAgingAnalysis
Unit:RMB
| Aging | Endingbalance | Beginningbalance | ||
| Amount | Proportion | Amount | Proportion | |
| Within1year | 33,261,589.57 | 39.14% | 36,985,187.03 | 53.18% |
| 1to2years | 21,767,574.33 | 25.61% | 3,797,085.70 | 5.46% |
| 2to3years | 6,611,483.93 | 7.78% | 8,360,467.04 | 12.36% |
| Over3years | 23,342,786.71 | 27.47% | 20,404,034.40 | 29.00% |
| Total | 84,983,434.54 | -- | 69,546,774.17 | -- |
Notesofthereasonsoftheprepaymentagingover1yearwithsignificantamountbutfailedsettledintime:
Theprepaymentagingover1yeararethevariousprepaidtaxes,likelandVAT,urbanconstructiontaxandeducationalsurtaxofprepaymentofrealestateprojectsstillnotreachingtherecognitionofincomeconditionsaccordingtotaxlaw;therelevantproceduresofconsciencemoneyincludinglandpricetransactionfeesandmunicipalsupportingfacilitiesfeehasn’tbeencompletedyet.
(2)Top5oftheEndingBalanceofthePrepaymentsCollectedaccordingtothePrepaymentTarget
| Nameofunits | Carryingamount | As%ofthetotalendingbalanceoftheprepayments(%) |
| ShenzhenQianhaiAdvancedInformationServiceCo.,Ltd. | 24,000,000.00 | 28.24% |
| FinancialCommitteeofShenzhen | 19,509,471.00 | 22.96% |
| TaxBureauofTongshanDistrictinXuzhou-prepaidtaxes | 14,632,771.32 | 17.22% |
| TaxBureauofHanjiangDistrictinYangzhou-prepaidtaxes | 14,590,007.43 | 17.17% |
| JiangsuHanjianGroup | 6,000,000.00 | 7.06% |
| Subtotal | 78,732,249.75 | 92.64% |
Othernotes:
Thetotalamountoftop5oftheendingbalanceoftheprepaymentswasRMB78,732,249.75,accountingfor92.64%ofthetotalendingbalanceoftheprepayments.
8.OtherReceivables
Unit:RMB
| Item | Endingbalance | Beginningbalance |
| Otherreceivables | 800,159,718.50 | 917,981,165.74 |
| Total | 800,159,718.50 | 917,981,165.74 |
(1)InterestReceivable
1)CategoryofInterestReceivable
Unit:RMB
| Item | Endingbalance | Beginningbalance |
2)SignificantOverdueInterest
Unit:RMB
| Entity | Endingbalance | Overduetime | Overduereason | Whetheroccurred |
Othernotes:
3)WithdrawalofBadDebtProvision
□Applicable√Notapplicable
(2)DividendsReceivable
1)CategoryofDividendsReceivable
Unit:RMB
impairmentandthejudgmentbasisItem(orinvestees)
| Item(orinvestees) | Endingbalance | Beginningbalance |
2)SignificantDividendsReceivableAgedover1Year
Unit:RMB
| Item(orinvestees) | Endingbalance | Aging | Reason | Whetheroccurredimpairmentandthejudgmentbasis |
3)WithdrawalofBadDebtProvision
□Applicable√NotapplicableOthernotes:
(3)OtherReceivables
1)OtherReceivablesDisclosedbyAccountNature
Unit:RMB
| Nature | Endingcarryingamount | Beginningcarryingamount |
| Margin | 11,937,978.73 | 13,439,816.18 |
| Cashdeposit | 50,181,204.02 | 30,202,817.84 |
| Pettycash | 3,372,169.60 | 1,853,585.88 |
| Paymentsonbehalf | 3,614,977.44 | 5,218,908.47 |
| Externalintercoursefunds | 772,468,837.47 | 915,411,567.13 |
| Other | 11,171,931.51 | 9,087,762.19 |
| Total | 852,747,098.77 | 975,214,457.69 |
2)WithdrawalofBadDebtProvision
Unit:RMB
| Baddebtprovision | Firststage | Secondstage | Thirdstage | Total |
| Expectedcreditlossofthenext12months | Expectedlossintheduration(creditimpairmentnotoccurred) | Expectedlossintheduration(creditimpairmentoccurred) | ||
| Balanceof1January2020 | 29,257,660.02 | 27,975,631.93 | 57,233,291.95 | |
| Balanceof1January2020intheCurrentPeriod | —— | —— | —— | —— |
| WithdrawaloftheCurrentPeriod | 644,205.48 | 644,205.48 | ||
| ReversaloftheCurrentPeriod | 5,290,117.16 | 5,290,117.16 | ||
| Balanceof30June2020 | 24,611,748.34 | 27,975,631.93 | 52,587,380.27 |
Changesofcarryingamountwithsignificantamountchangedoflossprovisioninthecurrentperiod
□Applicable√NotapplicableDisclosurebyaging
Unit:RMB
| Aging | Endingbalance |
| Within1year(including1year) | 65,695,400.47 |
| 1to2years | 10,979,858.36 |
| 2to3years | 735,332,705.48 |
| Over3years | 40,739,134.46 |
| 3to4years | 1,256,744.97 |
| 4to5years | 1,456,487.66 |
| Over5years | 38,025,901.83 |
| Total | 852,747,098.77 |
3)BadDebtProvisionWithdrawn,ReversedorRecoveredintheReportingPeriod
Withdrawalofbaddebtprovision:
Unit:RMB
| Category | Beginningbalance | Changes | Endingbalance | |||
| Withdrawal | Recoveryor | Write-off | Other | |||
| reversal | |||||
| Individualwithdrawalofbaddebtprovision | 27,975,631.93 | 27,975,631.93 | |||
| Withdrawalofbaddebtprovisionbygroups | 29,257,660.02 | 644,205.48 | 5,290,117.16 | 24,611,748.34 | |
| Total | 57,233,291.95 | 644,205.48 | 5,290,117.16 | 52,587,380.27 |
Ofwhichbaddebtprovisionreveredorrecoveredwithsignificantamount:
Unit:RMB
| Nameoftheentity | Reversedorcollectedamount | Method |
Notapplicable.
4)ParticularsoftheActualVerificationofOtherReceivablesduringtheReportingPeriod
Unit:RMB
| Item | Amount |
Ofwhich:significantactualverificationofotherreceivables:
Unit:RMB
| Nameoftheentity | Nature | Amount | Reason | Procedure | Whetheroccurredbecauseofrelated-partytransactions |
Notesofverificationofotherreceivables:
5)Top5oftheEndingBalanceoftheOtherReceivablesCollectedaccordingtotheArrearsParty
Unit:RMB
| Nameoftheentity | Nature | Endingbalance | Aging | Proportiontoendingbalanceofotherreceivables% | Endingbalanceofbaddebtprovision |
| ShenzhenXinhaiHoldingCo.,Ltd. | Intercoursefunds | 401,499,990.18 | 1to2years | 47.10% | |
| ShenzhenXinhaiRongyaoRealEstateDevelopmentCo.,Ltd. | Intercoursefunds | 330,472,932.33 | 1to2years | 38.80% | |
| ShenzhenBanglingStockCooperative | Margin | 30,000,000.00 | Within1year | 3.50% | 900,000.00 |
| Company | |||||
| AffordableHousingDevelopmentCenterofTongshanDistrictinXuZhou | Regulatorycapitalforpresaleofcommercialbuildings | 18,700,000.00 | Within1year | 2.20% | 561,000.00 |
| ShanghaiYutongRealestatedevelopmentCo.,Ltd. | Externalintercoursefunds | 5,676,000.00 | Over5years | 0.70% | 5,676,000.00 |
| Total | -- | 786,348,922.51 | -- | 92.21% | 7,137,000.00 |
6)AccountsReceivableInvolvingGovernmentGrants
Unit:RMB
| Nameoftheentity | Projectofgovernmentgrants | Endingbalance | Agingatperiod-end | Estimatedrecoveringtime,amountandbasis |
7)DerecognitionofOtherReceivablesduetotheTransferofFinancialAssets
8)TheAmountoftheAssetsandLiabilitiesFormedduetotheTransferandtheContinuedInvolvementofOtherReceivablesOthernotes:
9.InventoriesWhethertheCompanyneedstocomplywiththedisclosurerequirementsforrealestateindustryYes
(1)CategoryofInventories
TheCompanyneedstocomplywiththedisclosurerequirementsofShenzhenStockExchangeIndustryInformationDisclosureGuidelinesNo.3-ListedCompaniesEngagedinRealEstateIndustryClassifiedbynature
Unit:RMB
| Item | Endingbalance | Beginningbalance | ||||
| Carryingamount | Fallingpricereservesofinventoryordepreciationreservesofcontract | Carryingvalue | Carryingamount | Fallingpricereservesofinventoryordepreciationreservesofcontract | Carryingvalue | |
| performancecost | performancecost | |||||
| Developmentcosts | 5,124,846,218.88 | 6,648,404.13 | 5,118,197,814.75 | 4,528,429,076.71 | 6,648,404.13 | 4,521,780,672.58 |
| Developmentofproducts | 249,723,454.92 | 249,723,454.92 | 390,363,836.20 | 390,363,836.20 | ||
| Rawmaterials | 1,579,497.98 | 482,284.52 | 1,097,213.46 | 1,743,790.82 | 484,117.43 | 1,259,673.39 |
| Inventorygood | 2,137,983.91 | 2,094,300.39 | 43,683.52 | 2,132,162.67 | 2,094,300.39 | 37,862.28 |
| Low-valueconsumptiongoods | 69,398.16 | 69,398.16 | 68,832.21 | 68,832.21 | ||
| Total | 5,378,356,553.85 | 9,224,989.04 | 5,369,131,564.81 | 4,922,737,698.61 | 9,226,821.95 | 4,913,510,876.66 |
Disclosemainitemsofdevelopmentcostsandinterestcapitalizationinthefollowingformat:
Unit:RMB
| Nameofproject | Dateofcommencement | Estimateddateofcompletion | Estimatedtotalinvestment | Beginningbalance | Transferredtodevelopmentofproductsforthisperiod | Otherdecreaseforthisperiod | Increase(Developmentcosts)forthisperiod | Endingbalance | Accumulativeamountofcapitalizedinterests | Ofwhich:amountofcapitalizedinterestsforthisperiod | Capitalresources |
| GuanlanBanglingproject | 6,433,000,000.00 | 3,004,198,155.43 | 512,610,632.86 | 3,516,808,788.29 | Bankloan | ||||||
| SZPRD-BanshanYujingPhaseII | 15March2019 | 30June2021 | 110,750,000.00 | 103,895,147.96 | 24,663,371.66 | 128,558,519.62 | Other | ||||
| SZPRD-GoldenCollar’sResort–BuildingA&CA | 1March2014 | 1July2019 | 1,100,000,000.00 | 579,765,854.55 | 32,705,483.60 | 612,471,338.15 | 6,299,523.27 | 3,628,687.20 | Bankloan;other | ||
| SZPRD-FuchangGardenPhaseII | 1December2018 | 31December2022 | 969,290,000.00 | 581,416,971.33 | 4,506,740.21 | 585,923,711.54 | Other | ||||
| YupinLuanshan | 215,502,512.42 | 21,930,913.84 | 237,433,426.26 | Other | |||||||
| Hainan | 6,648,404 | 6,648,404 | Other |
| QiongshanLand | .13 | .13 | ||||||||
| ShenhuiGarden | 37,002,030.89 | 37,002,030.89 | Other | |||||||
| Total | -- | -- | 8,613,040,000.00 | 4,528,429,076.71 | 596,417,142.17 | 5,124,846,218.88 | 6,299,523.27 | 3,628,687.20 | -- |
Disclosemainitemsof“Developmentofproducts”inthefollowingformat:
Unit:RMB
| Nameofproject | Dateofcompletion | Beginningbalance | Increase | Decrease | Endingbalance | Accumulativeamountofcapitalizedinterests | Ofwhich:amountofcapitalizedinterestsforthisperiod |
| SZPRD-LangqiaoInternational | 1December2012 | 11,517,196.11 | 11,517,196.11 | ||||
| SZPRD-HupanYujingPhaseI | 1June2015 | 64,058,372.70 | 3,120,801.03 | 60,937,571.67 | 10,446,911.43 | ||
| SZPRD-BanshanYujingPhaseI | 30November2016 | 29,392,977.73 | 14,355,009.56 | 15,037,968.17 | 27,205,315.95 | ||
| SZPRD-SonghuLangyuan | 1July2017 | 27,098,111.12 | 1,439,087.77 | 25,659,023.35 | 30,539,392.65 | ||
| SZPRD-HupanYujingPhaseII | 1November2017 | 90,059,024.33 | 3,521,708.01 | 86,537,316.32 | |||
| SZPRD-GoldenCollar’sResort–BuildingB | 1December2019 | 158,235,034.42 | 118,203,774.91 | 40,031,259.51 | 1,206,675.51 | 0.00 | |
| InternationalTradeCenterPlaza | 1December1995 | 4,839,083.10 | 4,839,083.10 | ||||
| Huangyuyu | 1June2001 | 790,140.58 | 790,140.58 |
| anAArea | |||||||
| PodiumBuildingofFuchangBuilding | 1November1999 | 645,532.65 | 645,532.65 | ||||
| Otherprojects | 3,728,363.46 | 3,728,363.46 | 83,077,702.96 | ||||
| Total | -- | 390,363,836.20 | 140,640,381.28 | 249,723,454.92 | 167,109,484.65 | 0.00 |
Classificationof“Developingpropertieswiththecollectionofpaymentsininstallments”,“Rentingdevelopingproperties”and“TemporaryHousing”:
Unit:RMB
| Item | Beginningbalance | Increase | Decrease | Endingbalance |
(2)FallingPriceReservesofInventoryandDepreciationReservesofContractPerformanceCost
Disclosureoffallingprovisionwithdrawalofinventoryinthefollowingformat:
Classifiedbynature:
Unit:RMB
| Item | Beginningbalance | Increase | Decrease | Endingbalance | Note | ||
| Withdrawal | Other | Reversalorwrite-off | Other | ||||
| Developmentcosts | 6,648,404.13 | 6,648,404.13 | |||||
| Rawmaterials | 484,117.43 | 1,832.91 | 482,284.52 | ||||
| Inventorygood | 2,094,300.39 | 2,094,300.39 | |||||
| Total | 9,226,821.95 | 1,832.91 | 9,224,989.04 | -- | |||
Classificationbymainproject:
Unit:RMB
| Nameofproject | Beginningbalance | Increase | Decrease | Endingbalance | Notes | ||
| Withdrawal | Other | Reversalorwrite-off | Other | ||||
| HainanQiongshanLand | 6,648,404.13 | 6,648,404.13 | |||||
| Total | 6,648,404.13 | 6,648,404.13 | -- | ||||
(3)NotestotheEndingBalanceofInventoriesIncludingCapitalizedBorrowingExpense
| Item | Period-begin | ReportingPeriod | Carry-overinCurrentPeriod | Period-end |
| SZPRD-BanshanYujingPhaseI | 740,173.97 | 740,173.97 | 0.00 | |
| SZPRD-SonghuLangyuan | 43,719.56 | 43,719.56 | 0.00 | |
| SZPRD-LangqiaoInternational | 2,971,986.54 | 2,971,986.54 | ||
| SZPRD-HupanYujingPhaseI | 1,624,566.49 | 7,148.09 | 1,617,418.40 | |
| SZPRD-GoldenCollar’sResort | 3,097,352.86 | 3,628,687.20 | 873,040.00 | 5,853,000.06 |
| Subtotal | 8,477,799.43 | 3,628,687.20 | 1,664,081.62 | 10,442,405.00 |
(4)InventoryLimit
Disclosedbyproject
Unit:RMB
| Nameofproject | Beginningbalance | Endingbalance | ReasonfortheLimit |
10.ContractAssets
Unit:RMB
| Item | Endingbalance | Beginningbalance | ||||
| Carryingamount | Fallingpricereserves | Carryingvalue | Carryingamount | Fallingpricereserves | Carryingvalue | |
AmountofsignificantchangesincarryingvalueofcontractassetsintheReportingPeriodandreasonsthereof:
Unit:RMB
| Item | Amountchanged | Reason |
Ifthebaddebtprovisionforcontractassetsinaccordancewiththegeneralmodelofexpectedcreditlosses,theinformationrelatedtothebaddebtprovisionshallbedisclosedbyreferencetothedisclosuremethodofotherreceivables:
□Applicable√NotapplicableWithdrawalofimpairmentprovisionforcontractassetsintheReportingPeriod
Unit:RMB
| Item | Withdrawn | Reversed | Write-off/verified | Reason |
Othernotes:
11.Held-for-saleAssets
Unit:RMB
| Item | Endingcarryingamount | Impairmentprovision | Endingcarryingvalue | Fairvalue | Estimateddisposalexpense | Estimateddisposaltime |
Othernotes:
12.CurrentPortionofNon-currentAssets
Unit:RMB
| Item | Endingbalance | Beginningbalance |
Significantinvestmentsindebtobligations/otherinvestmentsindebtobligations
Unit:RMB
| Item | Endingbalance | Beginningbalance | ||||||
| Parvalue | Couponrate | Actualinterestrate | Maturitydate | Parvalue | Couponrate | Actualinterestrate | Maturitydate | |
Othernotes:
13.OtherCurrentAssets
Unit:RMB
| Item | Endingbalance | Beginningbalance |
| Pre-paidVAT | 2,685,619.81 | 34,043,807.16 |
| Deductedinputtax | 13,798,096.71 | 8,191,279.34 |
| Other | 16,750.10 | 265,499.44 |
| Total | 16,500,466.62 | 42,500,585.94 |
Othernotes:
14.Investmentsindebtobligations
Unit:RMB
| Item | Endingbalance | Beginningbalance | ||||
| Carryingamount | Impairmentprovision | Carryingvalue | Carryingamount | Impairmentprovision | Carryingvalue | |
Significantinvestmentsindebtobligations
Unit:RMB
| Item | Endingbalance | Beginningbalance | ||||||
| Parvalue | Couponrate | Actualinterestrate | Maturitydate | Parvalue | Couponrate | Actualinterestrate | Maturitydate | |
Withdrawalofimpairmentprovision
Unit:RMB
| Baddebtprovision | Firststage | Secondstage | Thirdstage | Total |
| Expectedcreditlossofthenext12months | Expectedlossintheduration(creditimpairmentnotoccurred) | Expectedlossintheduration(creditimpairmentoccurred) | ||
| Balanceof1January2020intheReportingPeriod | —— | —— | —— | —— |
ChangesincarryingamountofprovisionforlosseswithsignificantamountintheReportingPeriod
□Applicable√NotapplicableOthernotes:
15.OtherInvestmentsinDebtObligations
Unit:RMB
| Item | Beginningbalance | Accruedinterest | ChangeinfairvalueintheReportingPeriod | Endingbalance | Costs | Accumulatedchangesinfairvalue | Accumulatedprovisionforlossesrecognizedinothercomprehensiveincome | Note |
Significantotherinvestmentsindebtobligations
Unit:RMB
| Item | Endingbalance | Beginningbalance | ||||||
| Parvalue | Couponrate | Actualinterestrate | Maturitydate | Parvalue | Couponrate | Actualinterestrate | Maturitydate | |
Withdrawalofimpairmentprovision
Unit:RMB
| Baddebtprovision | Firststage | Secondstage | Thirdstage | Total |
| Expectedcreditlossofthenext12months | Expectedlossintheduration(creditimpairmentnotoccurred) | Expectedlossintheduration(creditimpairmentoccurred) | ||
| Balanceof1January2020intheReportingPeriod | —— | —— | —— | —— |
ChangesincarryingamountofprovisionforlosseswithsignificantamountintheReportingPeriod
□Applicable√NotapplicableOthernotes:
16.Long-termReceivables
(1)ListofLong-termReceivables
Unit:RMB
| Item | Endingbalance | Beginningbalance | Intervalofdiscountrate | ||||
| Carryingamount | Baddebtprovision | Carryingvalue | Carryingamount | Baddebtprovision | Carryingvalue | ||
Impairmentofbaddebtprovision
Unit:RMB
| Baddebtprovision | Firststage | Secondstage | Thirdstage | Total |
| Expectedcreditlossofthenext12months | Expectedlossintheduration(creditimpairmentnotoccurred) | Expectedlossintheduration(creditimpairmentoccurred) | ||
| Balanceof1January2020intheReportingPeriod | —— | —— | —— | —— |
ChangesincarryingamountofprovisionforlosseswithsignificantamountintheReportingPeriod
□Applicable√Notapplicable
(2)DerecognizitonofLong-termReceivablesduetotheTransferofFinancialAssets
(3)TheAmountoftheAssetsandLiabilitiesFormedduetotheTransferandtheContinuedInvolvementofLong-termReceivablesOthernotes
17.Long-termEquityInvestments
Unit:RMB
| Investees | Beginningbalance(carryingvalue) | Increase/decrease | Endingbalance(carryingvalue) | Endingbalanceofdepreciationreserves | |||||||
| Additionalinvestment | Reducedinvestment | Gainsandlossesrecognizedundertheequitymethod | Adjustmentofothercomprehensiveincome | Changesofotherequity | Cashbonusorprofitsannouncedtoissue | Withdrawalofdepreciationreserves | Other | ||||
| I.Jointventures | |||||||||||
| JifaWarehouseCo., | 38,614,771.66 | 43,811.79 | 38,658,583.45 | ||||||||
| Ltd. | |||||||
| ShenzhenTian’anInternationalBuildingPropertyManagementCo.,Ltd. | 6,461,351.06 | 113,250.00 | 6,574,601.06 | ||||
| Subtotal | 45,076,122.72 | 157,061.79 | 45,233,184.51 | ||||
| II.Associatedenterprises | |||||||
| ShenzhenWufangPottery&PorcelainIndustrialCo.,Ltd. | 18,983,614.14 | 18,983,614.14 | 18,983,614.14 | ||||
| ShenzhenKangfuHealthProductsCo.,Ltd. | 165,000.00 | 165,000.00 | 165,000.00 | ||||
| ShenzhenXinghaoImitationPorcelainCo.,Ltd. | 756,670.68 | 756,670.68 | 756,670.68 | ||||
| ShenzhenSocialWelfareCompanyFudaElectronicsFactory | 326,693.24 | 326,693.24 | 326,693.24 | ||||
| Shenzhen | 1,684,35 | 1,684,350 | 1,684,350 | ||||
| FulongIndustryDevelopmentCo.,Ltd. | 0.00 | .00 | .00 | |
| HaonianhuaHotel | 2,733,570.05 | 2,733,570.05 | 2,733,570.05 | |
| ShenzhenEducationFundLonghuaInvestment | 500,000.00 | 500,000.00 | 500,000.00 | |
| ShenzhenKangleSportsClubHuangfaBranch | 540,060.00 | 540,060.00 | 540,060.00 | |
| DankengvillageplantsofFumininGuanlantown | 1,168,973.20 | 1,168,973.20 | 1,168,973.20 | |
| ShenzhenBullEntertainmentCo.,Ltd. | 500,000.00 | 500,000.00 | 500,000.00 | |
| ShenzhenLianhuaCaitianPropertyManagementCo.,Ltd. | 1,475,465.91 | 1,475,465.91 | 1,475,465.91 | |
| ShenzhenYangyuanIndustrialCo.,Ltd. | 1,030,000.00 | 1,030,000.00 | 1,030,000.00 | |
| Jiakaifeng | 600,000. | 600,000.0 | 600,000.0 |
| Co.,Ltd.Bao’anCompany | 00 | 0 | 0 | ||
| GuiyuanGarage | 350,000.00 | 350,000.00 | 350,000.00 | ||
| ShenzhenWuweibenRoofGreeningCo.,Ltd. | 500,000.00 | 500,000.00 | 500,000.00 | ||
| ShenzhenYuanpingPlasticSteelDoorsCo.,Ltd. | 240,000.00 | 240,000.00 | 240,000.00 | ||
| ShenzhenYoufangPrintingCo.,Ltd. | 100,000.00 | 100,000.00 | 100,000.00 | ||
| ShenzhenLushengIndustrialDevelopmentCo.,Ltd. | 100,000.00 | 100,000.00 | 100,000.00 | ||
| Subtotal | 31,754,397.22 | 31,754,397.22 | 31,754,397.22 | ||
| Total | 76,830,519.94 | 76,987,581.73 | 31,754,397.22 | ||
Othernotes
18.OtherEquityInstrumentInvestment
Unit:RMB
| Item | Endingbalance | Beginningbalance |
| GintianIndustry(Group)Co.,Ltd. | 1,134,803.13 | 1,580,475.86 |
| Total | 1,134,803.13 | 1,580,475.86 |
Disclosureofnon-tradingequityinstrumentinvestment
Unit:RMB
| Name | Dividendincomerecognized | Accumulativegains | Accumulativelosses | Amountofothercomprehensiveincometransferredtoretainedearnings | Reasonforassigningtomeasurebyfairvalueandthechangesbeincludedinothercomprehensiveincome | Reasonofothercomprehensiveincometransferredtoretainedearnings |
| GintianIndustry(Group)Co.,Ltd. | 2,496,940.97 | Notaimingatgainingearningsbysellingequity |
Othernotes:
19.OtherNon-currentFinancialAssets
Unit:RMB
| Item | Endingbalance | Beginningbalance |
Othernotes:
20.InvestmentProperty
(1)InvestmentPropertyAdoptingtheCostMeasurementMode
√Applicable□Notapplicable
Unit:RMB
| Item | Housesandbuildings | Landuseright | Constructioninprogress | Total |
| I.Originalcarryingvalue | ||||
| 1.Beginningbalance | 835,776,692.89 | 30,262,437.05 | 866,039,129.94 | |
| 2.Increasedamountoftheperiod | 3,495,053.34 | 3,495,053.34 | ||
| (1)Outsourcing | ||||
| (2)Transferfrominventory/fixedassets/constructioninprogress | 3,252,075.05 | 3,252,075.05 | ||
| (3)Enterprisecombinationincrease | ||||
| (4)Translationofforeigncurrencydenominatedfinancialstatements | 242,978.29 | 242,978.29 | ||
| 3.Decreasedamountof |
| theperiod |
| (1)Disposal |
| (2)Othertransfer |
| 4.Endingbalance | 839,271,746.23 | 30,262,437.05 | 869,534,183.28 | |
| II.Accumulativedepreciationandaccumulativeamortization | ||||
| 1.Beginningbalance | 347,900,357.76 | 14,815,343.57 | 362,715,701.33 | |
| 2.Increasedamountoftheperiod | 18,103,551.47 | 263,796.30 | 18,367,347.77 | |
| (1)Withdrawaloramortization | 18,103,551.47 | 263,796.30 | 18,367,347.77 |
| 3.Decreasedamountoftheperiod |
| (1)Disposal |
| (2)Othertransfer |
| 4.Endingbalance | 366,003,909.23 | 15,079,139.87 | 381,083,049.10 | |
| III.Depreciationreserves | ||||
| 1.Beginningbalance | ||||
| 2.Increasedamountoftheperiod | ||||
| (1)Withdrawal |
| 3.Decreasedamountoftheperiod |
| (1)Disposal |
| (2)Othertransfer |
| 4.Endingbalance | ||||
| IV.Carryingvalue | ||||
| 1.Endingcarryingvalue | 473,267,837.00 | 15,183,297.18 | 488,451,134.18 | |
| 2.Beginningcarrying | 487,876,335.13 | 15,447,093.48 | 503,323,428.61 |
(2)InvestmentPropertyAdoptedtheFairValueMeasurementMode
□Applicable√NotapplicableTheCompanyneedstocomplywiththedisclosurerequirementsofGuidelineNo.3oftheShenzhenStockExchangeontheIndustrialInformationDisclosureaboutListedCompanies’EngagementinRealEstateBusinessInvestmentpropertiesmeasuredinfairvaluedisclosedbyproject:
Unit:RMB
value
Nameofproject
| Nameofproject | Geographicallocation | Dateofcompletion | Buildingarea | LeaseincomeduringthisReportingPeriod | Beginningfairvalue | Endingfairvalue | Rangeoffairvaluechanges | Reasonforfairvaluechangesandreportindex |
WhethertheCompanyhasnewinvestmentpropertiesinconstructionperiodmeasuredinfairvalue
□Yes√NoWhethertheCompanyhasnewinvestmentpropertiesmeasuredinfairvalue
□Yes√No
(3)InvestmentPropertyFailedtoAccomplishCertificationofProperty
Unit:RMB
| Item | Carryingvalue | Reason |
| 02-01plotofStatutoryplaninBaolongEastArea | 9,170,778.00 | ReplacedfromtheconstructionofXiamen-ShenzhenRailway,andhasn’texchangedforthenewcertification |
| 507units,BlockNo.6,Maguling | 27,263.51 | Thehouseisusedforpropertymanagement,onceoccupiedbythethirdparty,apropertymanagementcompany,nowhasbeenrecovered,buthasn’thandledthewarrantyet. |
Othernotes
21.FixedAssets
Unit:RMB
| Item | Endingbalance | Beginningbalance |
| Fixedassets | 89,296,825.77 | 93,557,782.83 |
| Total | 89,296,825.77 | 93,557,782.83 |
(1)ListofFixedAssets
Unit:RMB
| Item | Housesandbuildings | Decorationofthefixedassets | Machineryequipment | Transportationequipment | Otherequipment | Total |
| I.Originalcarryingvalue | ||||||
| 1.Beginningbalance | 161,336,884.91 | 23,105,646.54 | 205,747.00 | 14,123,435.60 | 27,601,069.63 | 226,372,783.68 |
| 2.Increasedamountoftheperiod | 112,446.31 | 1,029,996.87 | 186,000.00 | 89,100.00 | 439,252.23 | 1,856,795.41 |
| (1)Purchase | 1,029,996.87 | 186,000.00 | 89,100.00 | 439,252.23 | 1,744,349.10 | |
| (2)Transferfromconstructioninprogress | ||||||
| (3)Enterprisecombinationincrease | ||||||
| (4)Translationofforeigncurrency-denominatedfinancialstatements | 112,446.31 | 112,446.31 |
| 3.Decreasedamountoftheperiod | 246,401.90 | 18,000.00 | 28,734.05 | 293,135.95 | ||
| (1)Disposalorscrap | 246,401.90 | 18,000.00 | 28,734.05 | 293,135.95 |
| 4.Endingbalance | 161,449,331.22 | 23,889,241.51 | 391,747.00 | 14,194,535.60 | 28,011,587.81 | 227,936,443.14 |
| II.Accumulativedepreciation | ||||||
| 1.Beginningbalance | 101,657,814.19 | 4,449,605.68 | 2,549.40 | 9,697,922.59 | 16,931,391.83 | 132,739,283.69 |
| 2.Increasedamountoftheperiod | 2,024,795.66 | 2,624,754.07 | 49,176.02 | 556,399.98 | 801,059.96 | 6,056,185.69 |
| (1)Withdrawal | 2,024,795.66 | 2,624,754.07 | 49,176.02 | 556,399.98 | 801,059.96 | 6,056,185.69 |
| 3.Decreasedamountoftheperiod | 195,806.55 | 17,100.00 | 18,662.62 | 231,569.17 | ||
| (1)Disposalorscrap | 195,806.55 | 17,100.00 | 18,662.62 | 231,569.17 |
| 4.Endingbalance | 103,682,609.85 | 6,878,553.20 | 51,725.42 | 10,237,222.57 | 17,713,789.17 | 138,563,900.21 |
| III.Depreciationreserves | ||||||
| 1.Beginningbalance | 75,717.16 | 75,717.16 | ||||
| 2.Increasedamountoftheperiod | ||||||
| (1)Withdrawal |
| 3.Decreasedamountoftheperiod |
| (1)Disposalorscrap |
| 4.Endingbalance | 75,717.16 | 75,717.16 | ||||
| IV.Carryingvalue | ||||||
| 1.Endingcarryingvalue | 57,766,721.37 | 17,010,688.31 | 340,021.58 | 3,957,313.03 | 10,222,081.48 | 89,296,825.77 |
| 2.Beginningcarryingvalue | 59,679,070.72 | 18,656,040.86 | 203,197.60 | 4,425,513.01 | 10,593,960.64 | 93,557,782.83 |
(2)ListofTemporarilyIdleFixedAssets
Unit:RMB
| Item | Originalcarryingvalue | Accumulativedepreciation | Depreciationreserves | Carryingvalue | Note |
(3)FixedAssetsLeasedinbyFinancingLease
Unit:RMB
| Item | Originalcarryingvalue | Accumulativedepreciation | Depreciationreserves | Carryingvalue |
(4)FixedAssetsLeasedoutbyOperationLease
Unit:RMB
| Item | Endingcarryingvalue |
(5)FixedAssetsFailedtoAccomplishCertificationofProperty
Unit:RMB
| Item | Carryingvalue | Reason |
| Room406,2units,HulunbuirGuangxiaDigitalBuilding | 2,854,810.18 | Propertyrightdisputesbefore,nowhaswonalawsuitwithunaccomplishedcertificationofproperty. |
| Room401,402,SanxiangBusinessBuildingOfficeBuilding | 845,393.96 | Theofficebuildingwillberemovedduetotheprojectadjustmentandahigh-riseofficebuildingwillbeestablishednearbythepresentaddress.Theexistingpropertyshallbereplacedafterthecompletionofthenewofficebuilding.Thus,thecertificationofthepropertyisfailedtotransact. |
Othernotes
(6)ProceedsfromDisposalofFixedAssets
Unit:RMB
| Item | Endingbalance | Beginningbalance |
Othernotes
22.ConstructioninProgress
Unit:RMB
| Item | Endingbalance | Beginningbalance |
(1)ListofConstructioninProgress
Unit:RMB
| Item | Endingbalance | Beginningbalance | ||||
| Carryingamount | Depreciationreserves | Carryingvalue | Carryingamount | Depreciationreserves | Carryingvalue | |
(2)ChangesinSignificantConstructioninProgressduringtheReportingPeriod
Unit:RMB
| Item | Budget | Beginningbalance | Increasedamount | Transferredinfixedassets | Otherdecreasedamount | Endingbalance | Proportionofaccumulatedinvestmentinconstructionstobudget | Jobschedule | Accumulatedamountofinterestcapitalization | Ofwhich:AmountofcapitalizedinterestsfortheReportingPeriod | CapitalizationrateofinterestsfortheReportingPeriod | Capitalresources |
(3)ListoftheWithdrawaloftheDepreciationReservesforConstructioninProgress
Unit:RMB
| Item | Amountwithdrawn | Reasonforwithdrawal |
Othernotes
(4)EngineeringMaterials
Unit:RMB
| Item | Endingbalance | Beginningbalance | ||||
| Carryingamount | Depreciationreserves | Carryingvalue | Carryingamount | Depreciationreserves | Carryingvalue | |
Othernotes:
23.ProductiveLivingAssets
(1)ProductiveLivingAssetsAdoptingCostMeasurementMode
□Applicable√Notapplicable
(2)ProductiveLivingAssetsAdoptingFairValueMeasurementMode
□Applicable√Notapplicable
24.OilandGasAssets
□Applicable√Notapplicable
25.Right-of-useAssets
Unit:RMB
| Item | Total |
Othernotes:
26.IntangibleAssets
(1)ListofIntangibleAssets
Unit:RMB
| Item | Landuseright | Patentright | Non-patentright | Software | Total | |
| I.Originalcarryingvalue | ||||||
| 1.Beginningbalance | 1,234,387.66 | 1,234,387.66 | ||||
| 2.Increasedamountoftheperiod | ||||||
| (1)Purchase | ||||||
| (2)Internaldevelopment | ||||||
| (3)Businesscombinationincrease |
| 3.Decreasedamountoftheperiod |
| (1)Disposal |
| 4.Endingbalance | 1,234,387.66 | 1,234,387.66 | ||
| II.Accumulatedamortization | ||||
| 1.Beginningbalance | 534,018.00 | 534,018.00 |
| 2.Increasedamountoftheperiod | 109,162.21 | 109,162.21 | ||
| (1)Withdrawal | 109,162.21 | 109,162.21 |
| 3.Decreasedamountoftheperiod |
| (1)Disposal |
| 4.Endingbalance | 622,370.21 | 622,370.21 | ||
| III.Depreciationreserves | ||||
| 1.Beginningbalance | ||||
| 2.Increasedamountoftheperiod | ||||
| (1)Withdrawal |
| 3.Decreasedamountoftheperiod |
| (1)Disposal |
| 4.Endingbalance | ||||
| IV.Carryingvalue | ||||
| 1.Endingcarryingvalue | 591,207.45 | 591,207.45 | ||
| 2.Beginningcarryingvalue | 700,369.66 | 700,369.66 |
TheproportionofintangibleassetsformedfromtheinternalR&DoftheCompanyatthePeriod-endtotheendingbalanceofintangibleassetswas.
(2)LandUseRightwithCertificateofTitleUncompleted
Unit:RMB
| Item | Carryingvalue | Reason |
Othernotes:
27.DevelopmentCosts
Unit:RMB
| Item | Beginningbalance | Increase | Decrease | Endingbalance | ||||
| Internaldevelopmentcosts | Other | Recognizedasintangibleassets | Transfertoprofitorloss | |||||
Othernotes
28.Goodwill
(1)OriginalCarryingValueofGoodwill
Unit:RMB
TotalNameoftheinvestedunitsoreventsgeneratinggoodwill
| Nameoftheinvestedunitsoreventsgeneratinggoodwill | Beginningbalance | Increase | Decrease | Endingbalance | ||
| Formedbyenterprisecombination | Disposal | |||||
(2)DepreciationReservesofGoodwill
Unit:RMB
TotalNameoftheinvestedunitsoreventsgenerating
goodwill
| Nameoftheinvestedunitsoreventsgeneratinggoodwill | Beginningbalance | Increase | Decrease | Endingbalance | ||
| Withdrawal | Disposal | |||||
InformationontheassetsgrouporcombinationofassetsgroupswhichincludegoodwillNotesofthetestingprocessofgoodwillimpairment,keyparameters(suchasgrowthrateoftheforecastperiod,growthrateofstableperiod,rateofprofit,discountrate,forecastperiodandsoonforpredictionoffuturepresentvalueofcashflows)andtherecognitionmethodofgoodwillimpairmentlosses:
Influenceofgoodwillimpairmenttesting
Othernotes
29.Long-termPrepaidExpense
Unit:RMB
| Item | Beginningbalance | Increasedamount | Amortizationamountoftheperiod | Otherdecreasedamount | Endingbalance |
| Rentalfees | 588,336.00 | 169,454.68 | 418,881.32 | ||
| Renovationcosts | 6,446,136.79 | 914,680.87 | 1,385,631.46 | 5,975,186.20 | |
| Total | 7,034,472.79 | 914,680.87 | 1,555,086.14 | 6,394,067.52 |
Othernotes
30.DeferredIncomeTaxAssets/DeferredIncomeTaxLiabilities
(1)DeferredIncomeTaxAssetsthatHadnotBeenOff-set
Unit:RMB
| Item | Endingbalance | Beginningbalance | ||
| Deductibletemporarydifference | Deferredincometaxassets | Deductibletemporarydifference | Deferredincometaxassets | |
| Provisionforimpairmentofassets | 152,825,318.94 | 38,847,987.80 | 157,586,654.91 | 38,312,198.03 |
| Internalunrealizedprofit | 46,353,414.96 | 11,588,353.74 | 49,316,338.72 | 12,329,084.68 |
| Deductiblelosses | 1,208,292,983.24 | 302,073,245.81 | 162,281,053.40 | 40,570,263.35 |
| AccruedlandVAT | 1,219,229,090.00 | 304,807,272.50 | 2,148,670,831.53 | 537,167,707.90 |
| Estimatedprofitcalculatedatpre-salerevenueofpropertyenterprises | 36,496,723.60 | 9,124,180.90 | 119,095,335.72 | 29,773,833.93 |
| Payrollpayableunpaidbutwithdrawn | 114.34 | 28.59 | 139.36 | 34.84 |
| Total | 2,663,197,645.08 | 666,441,069.34 | 2,636,950,353.64 | 658,153,122.73 |
(2)DeferredIncomeTaxLiabilitiesHadNotBeenOff-set
Unit:RMB
| Item | Endingbalance | Beginningbalance | ||
| Taxabletemporarydifference | Deferredincometaxliabilities | Taxabletemporarydifference | Deferredincometaxliabilities | |
| Thecarryingvalueoffixedassetswaslargerthanthetaxbasis | 15,284.32 | 3,821.08 | 15,284.32 | 3,821.08 |
| Total | 15,284.32 | 3,821.08 | 15,284.32 | 3,821.08 |
(3)DeferredIncomeTaxAssetsorLiabilitiesListedbyNetAmountafterOff-set
Unit:RMB
| Item | Mutualset-offamountofdeferredincometaxassetsandliabilitiesattheperiod-end | Endingbalanceofdeferredincometaxassetsorliabilitiesafteroff-set | Mutualset-offamountofdeferredincometaxassetsandliabilitiesattheperiod-begin | Beginningbalanceofdeferredincometaxassetsorliabilitiesafteroff-set |
| Deferredincometaxassets | 666,441,069.33 | 658,153,122.73 | ||
| Deferredincometaxliabilities | 3,821.08 | 3,821.08 |
(4)ListofUnrecognizedDeferredIncomeTaxAssets
Unit:RMB
| Item | Endingbalance | Beginningbalance |
| Deductibletemporarydifference | 71,272,757.95 | 60,809,797.81 |
| Deductiblelosses | 312,848,147.29 | 187,768,845.36 |
| Total | 384,120,905.24 | 248,578,643.17 |
(5)DeductibleLossesofUnrecognizedDeferredIncomeTaxAssetswillDueintheFollowingYears
Unit:RMB
| Years | Endingamount | Beginningamount | Notes |
| Y2019 | 7,443.23 | Thedeductiblelossesof2014 | |
| Y2020 | 8,494.90 | 8,494.90 | Thedeductiblelossesof2015 |
| Y2021 | 3,456.91 | 3,456.91 | Thedeductiblelossesof2016 |
| Y2022 | 62,919,255.68 | 62,919,255.68 | Thedeductiblelossesof2017 |
| Y2024 | 246,980,657.57 | 124,830,194.64 | Thedeductiblelossesof2019 |
| Y2025 | 2,936,282.23 | Thedeductiblelossesof2020 | |
| Total | 312,848,147.29 | 187,768,845.36 | -- |
Othernotes:
31.OtherNon-currentAssets
Unit:RMB
| Item | Endingbalance | Beginningbalance | ||||
| Carryingamount | Depreciationreserves | Carryingvalue | Carryingamount | Depreciationreserves | Carryingvalue | |
| Prepaymentforpurchaseoffixedassets,investmentpropertiesandintangibleassets | 18,722,496.18 | 18,722,496.18 | 4,711,963.66 | 4,711,963.66 | ||
| Total | 18,722,496.18 | 18,722,496.18 | 4,711,963.66 | 4,711,963.66 | ||
Othernotes:
32.Short-termBorrowings
(1)CategoryofShort-termBorrowings
Unit:RMB
| Item | Endingbalance | Beginningbalance |
Notesofshort-termborrowingscategory:
Notapplicable.
(2)ListoftheShort-termBorrowingsOverduebutNotReturnedTheamountoftheoverdueunpaidshort-termborrowingsattheperiod-endwasRMBXXX,ofwhichthesignificantoverdueunpaidshort-termborrowingsareasfollows:
Unit:RMB
| Borrower | Endingbalance | Interestrate | Overduetime | Overduechargerate |
Othernotes:
Notapplicable.
33.TradingFinancialliabilities
Unit:RMB
| Item | Endingbalance | Beginningbalance |
| Ofwhich: | ||
| Ofwhich: |
Othernotes:
Notapplicable.
34.DerivativeFinancialLiabilities
Unit:RMB
| Item | Endingbalance | Beginningbalance |
Othernotes:
Notapplicable.
35.NotesPayable
Unit:RMB
| Item | Endingbalance | Beginningbalance |
ThetotalamountofnotespayableduebutunpaidwasRMBXXX.
36.AccountsPayable
(1)ListofAccountsPayable
Unit:RMB
| Item | Endingbalance | Beginningbalance |
| Engineeringconstructionexpensepayable | 390,519,470.90 | 420,433,422.07 |
| Accruedexpense | 50,084,943.28 | 90,484,298.98 |
| Other | 95,632,924.32 | 66,771,418.05 |
| Total | 536,237,338.50 | 577,689,139.10 |
(2)SignificantAccountsPayableAgingoverOneYear
Unit:RMB
| Item | Endingbalance | Unpaid/Un-carry-overreason |
| JiangsuHanjianGroupCo.,Ltd.(PhaseII) | 30,383,169.67 | Settledbutoutstanding |
| ShanghaiMingpengConstructionGroupCo.,Ltd. | 25,976,705.79 | Unsettled |
| ShenzhenLuohuDistrictLandandResourcesBureau | 25,000,000.00 | Unsettled |
| JiangsuHanjianGroupCo.,Ltd. | 15,179,202.67 | Constructioncostinarrearsaccountedbyverifiedoutputvalue |
| TheSecondConstructionCo.,Ltd.ofChinaConstructionThirdEngineeringBureau | 6,345,592.81 | Constructiondeposit |
| Total | 102,884,670.94 | -- |
Othernotes:
37.AdvancesfromCustomers
(1)ListofAdvancesfromCustomers
Unit:RMB
| Item | Endingbalance | Beginningbalance |
| Housepaymentinadvance | ||
| Propertyfeeinadvance | 26,745,590.38 | 17,463,948.02 |
| Other | 5,790,958.35 | 16,508,412.92 |
| Total | 32,536,548.73 | 33,972,360.94 |
(2)SignificantAdvancesfromCustomersAgingoverOneYear
Unit:RMB
| Item | Endingbalance | Unpaid/Un-carry-overreason |
Othernotes:
Notapplicable.TheCompanyneedstocomplywiththedisclosurerequirementsofGuidelineNo.3oftheShenzhenStockExchangeontheIndustrialInformationDisclosureaboutListedCompanies’EngagementinRealEstateBusinessTheproceedsinformationoftop5advancesaleamount:
Unit:RMB
| No. | Name | Beginningbalance | Endingbalance | Expectedcompletiondate | Advancesaleproportion |
38.ContractLiabilities
Unit:RMB
| Item | Endingbalance | Beginningbalance |
| Housepaymentinadvance | 480,801,605.00 | 694,213,671.69 |
| Total | 480,801,605.00 | 694,213,671.69 |
SignificantchangesinamountofcarryingvalueoccurredintheReportingPeriodandthereasons
Unit:RMB
| Item | Amountchanged | Reason |
39.PayrollPayable
(1)ListofPayrollPayable
Unit:RMB
| Item | Beginningbalance | Increase | Decrease | Endingbalance |
| I.Short-termsalary | 141,448,850.23 | 309,840,720.08 | 336,075,756.59 | 115,213,813.72 |
| II.Post-employmentbenefit-definedcontributionplans | 1,921,102.65 | 8,808,402.36 | 9,569,944.40 | 1,159,560.61 |
| III.Terminationbenefits | 123,915.92 | 222,637.17 | 346,553.09 | |
| Total | 143,493,868.80 | 318,871,759.61 | 345,992,254.08 | 116,373,374.33 |
(2)ListofShort-termSalary
Unit:RMB
| Item | Beginningbalance | Increase | Decrease | Endingbalance |
| 1.Salary,bonus,allowance,subsidy | 127,467,198.54 | 276,897,637.28 | 304,005,337.59 | 100,359,498.23 |
| 2.Employeewelfare | 179,903.05 | 7,188,412.27 | 7,368,315.32 | |
| 3.Socialinsurance | 309,821.38 | 11,456,304.82 | 10,933,885.96 | 832,240.24 |
| Ofwhich:Medicalinsurancepremiums | 307,218.00 | 10,684,567.95 | 10,167,853.76 | 823,932.19 |
| Work-relatedinjuryinsurance | 99,350.62 | 97,151.78 | 2,198.84 | |
| Maternityinsurance | 2,603.38 | 347,289.65 | 343,783.82 | 6,109.21 |
| 4.Housingfund | 552,529.86 | 8,806,603.27 | 8,923,102.27 | 436,030.86 |
| 5.Laborunionbudgetandemployeeeducationbudget | 12,939,397.40 | 5,491,762.44 | 4,845,115.45 | 13,586,044.39 |
| Total | 141,448,850.23 | 309,840,720.08 | 336,075,756.59 | 115,213,813.72 |
(3)ListofDefinedContributionPlans
Unit:RMB
| Item | Beginningbalance | Increase | Decrease | Endingbalance |
| 1.Basicpensionbenefits | 168,430.00 | 4,760,055.00 | 4,639,457.12 | 289,027.88 |
| 2.Unemploymentinsurance | 50,226.78 | 43,770.68 | 6,456.10 | |
| 3.Annuity | 1,752,672.65 | 3,998,120.58 | 4,886,716.60 | 864,076.63 |
| Total | 1,921,102.65 | 8,808,402.36 | 9,569,944.40 | 1,159,560.61 |
Othernotes:
40.TaxesPayable
Unit:RMB
| Item | Endingbalance | Beginningbalance |
| VAT | 13,493,598.74 | 70,818,175.32 |
| Corporateincometax | 2,674,867.69 | 368,461,498.66 |
| Personalincometax | 2,749,244.89 | 1,556,780.71 |
| Urbanmaintenanceandconstructiontax | 643,366.29 | 3,668,311.19 |
| LandVAT | 1,219,264,403.13 | 2,149,507,199.99 |
| Propertytax | 4,641,483.50 | 526,309.33 |
| Landusetax | 1,471,587.45 | 942,757.19 |
| Educationsurcharge | 215,012.67 | 1,592,152.99 |
| Localeducationsurtax | 279,183.44 | 1,067,591.60 |
| Other | 142,514.70 | |
| Total | 1,245,432,747.80 | 2,598,283,291.68 |
Othernotes:
41.OtherPayables
Unit:RMB
| Item | Endingbalance | Beginningbalance |
| Dividendspayable | 12,202,676.04 | 12,202,676.04 |
| Otherpayables | 807,985,786.65 | 1,136,902,252.81 |
| Total | 820,188,462.69 | 1,149,104,928.85 |
(1)InterestPayable
Unit:RMB
| Item | Endingbalance | Beginningbalance |
Listofthesignificantoverdueunpaidinterest:
Unit:RMB
| Borrower | Overdueamount | Overduereasons |
Othernotes:
Notapplicable.
(2)DividendsPayable
Unit:RMB
| Item | Endingbalance | Beginningbalance |
| Ordinarysharedividends | 12,202,676.04 | 12,434,579.81 |
| Total | 12,202,676.04 | 12,202,676.04 |
Othernotes,includingsignificantdividendspayableunpaidforoveroneyear,theunpaidreasonshallbedisclosed:
| Item | Amountunpaid | Reason |
| ShenzhenSouthChinaInvestmentDevelopmentCo.,Ltd. | 9,871.20 | Withoutaccesstoitsaccount |
| WenlingQualityControlAssociation | 9,871.02 | Withoutaccesstoitsaccount |
| ShanghaiWeihongIndustry&TradeCo.,Ltd. | 9,900.00 | Withoutaccesstoitsaccount |
| ChinaShenzhenInternationalCooperation(Group)Co.,Ltd. | 0.18 | Withoutaccesstoitsaccount |
| ShenzhenGreeningDepartment | 10,869,036.68 | Companyrestructuredwithoutclearingpaymentobject |
| LaborunionofShenzhenGreeningDepartment | 1,300,000.00 | Companyrestructuredwithoutclearingpaymentobject |
| ShenzhenSportsAdministration | 3,996.96 | Finalpaymentunpaid |
| Subtotal | 12,202,676.04 |
(3)OtherPayables
1)OtherPayablesListedbyNature
Unit:RMB
| Item | Endingbalance | Beginningbalance |
| Deposit | 211,312,547.96 | 201,013,437.65 |
| Guarantee | 50,698,328.84 | 51,062,427.71 |
| Residualfundsofequitytransferunpaid | 465,807,569.82 | |
| Agencyfund | 5,972,288.11 | 7,531,813.31 |
| Intercoursefund | 404,317,342.84 | 316,244,391.26 |
| Accruedexpenses | 107,685,432.23 | 64,684,769.05 |
| Paymentonbehalf | 5,538,460.34 | 9,235,637.59 |
| Other | 22,461,386.33 | 21,322,206.42 |
| Total | 807,985,786.65 | 1,136,902,252.81 |
2)SignificantOtherPayablesAgingoverOneYear
Unit:RMB
| Item | Endingbalance | Unpaid/Un-carry-overreason |
| ShenzhenRealEstateJifaWarehousingCo.,Ltd. | 35,796,665.14 | Come-and-goaccountswithoutspecificpaymentterm |
| ShenzhenPasonAluminumTechnologyCo.,Ltd. | 196,416,155.45 | Cooperativedevelopmentfundssettledincompletionoftheproject |
| Marginofsporadiclease | 8,508,355.59 | Marginwithintheleasingperiod |
| ShenzhenTian’anInternationalBuildingPropertyManagementCo.,Ltd. | 5,214,345.90 | Come-and-goaccountswithoutspecificpaymentterm |
| RainbowCo.,Ltd. | 2,380,000.00 | Marginwithintheleasingperiod |
| Total | 248,315,522.08 | -- |
Othernotes
42.LiabilitiesHeldforSale
Unit:RMB
| Item | Endingbalance | Beginningbalance |
Othernotes:
Notapplicable.
43.CurrentPortionofNon-currentLiabilities
Unit:RMB
| Item | Endingbalance | Beginningbalance |
| Currentportionoflong-termborrowings | 755,325,505.51 | 3,921,032.24 |
| Total | 755,325,505.51 | 3,921,032.24 |
Othernotes:
44.OtherCurrentLiabilities
Unit:RMB
| Item | Endingbalance | Beginningbalance |
Increase/decreaseoftheshort-termbondspayable:
Unit:RMB
| Bondsname | Parvalue | Issuingdate | Duration | Issuingamount | Beginningbalance | Thecurrentissue | Withdrawalofinterestbyparvalue | Amortizationofpremiumanddepreciation | RepaymentintheReportingPeriod | Endingbalance |
Othernotes:
Notapplicable.
45.Long-termBorrowings
(1)CategoryofLong-termBorrowings
Unit:RMB
| Item | Endingbalance | Beginningbalance |
| Pledgedborrowings | 2,999,800,000.00 | 2,192,900,000.00 |
| Guaranteedborrowings | 933,000.00 | |
| Creditborrowings | 616,000,000.00 | |
| Total | 3,615,800,000.00 | 2,193,833,000.00 |
Notestothecategoryoflong-termborrowings:
Othernotes,includingtheintervalofinterestrate:
Thepledgedandguaranteedborrowingsattheperiod-endwereusedtodeveloptheBanglingurbanrenewalprojectofShenzhenRongyaoRealEstateDevelopmentCo.,Ltd.(hereinafterreferredtoas“RongyaoRealEstate”)withthedurationfrom29November2019to20November2024,applyingtheborrowingratebyrising1.55%complyingwithone-yearlevelofloanprimerate.And69%equityofRongyaoRealEstateheldbytheCompanywaspledgedandtheguaranteemodewasthejointliabilityguaranty.Thecreditborrowingsattheperiod-endwereusedforthetransactionpaymentofequityofShenzhenToukongPropertyManagementCo.,Ltd.withthedurationfrom18May2020to10May2023,applyingtheborrowingratebyadding23.5basispointscomplyingwithone-yearlevelofloanprimerate.
46.BondsPayable
(1)ListofBondsPayable
Unit:RMB
| Item | Endingbalance | Beginningbalance |
(2)Increase/DecreaseofBondsPayable(ExcludingOtherFinancialInstrumentClassifiedasFinancialLiabilitiessuchasPreferredSharesandPerpetualBonds)
Unit:RMB
| Bondsname | Parvalue | Issuingdate | Duration | Issuingamount | Beginningbalance | Thecurrentissue | Withdrawalofinterestbyparvalue | Amortizationofpremiumanddepreciation | RepaymentintheReportingPeriod | Endingbalance |
| Total | -- | -- | -- |
(3)NotestotheConditionsandTimeoftheSharesTransferoftheConvertibleCorporateBonds
(4)NotestoOtherFinancialInstrumentsClassifiedasFinancialLiabilitiesBasicsituationofotherfinancialinstrumentssuchaspreferredsharesandperpetualbondsoutstandingattheperiod-endChangesinfinancialinstrumentssuchaspreferredsharesandperpetualbondsoutstandingattheperiod-end
Unit:RMB
| Outstandingfinancialinstrument | Period-begin | Increase | Decrease | Period-end | ||||
| Amount | Carryingvalue | Amount | Carryingvalue | Amount | Carryingvalue | Amount | Carryingvalue | |
NotestobasisfortheclassificationofotherfinancialinstrumentsasfinancialliabilitiesOthernotesNotapplicable.
47.LeaseLiabilities
Unit:RMB
| Item | Endingbalance | Beginningbalance |
OthernotesNotapplicable.
48.Long-termPayables
Unit:RMB
| Item | Endingbalance | Beginningbalance |
(1)Long-termPayablesListedbyNature
Unit:RMB
| Item | Endingbalance | Beginningbalance |
Othernotes:
(2)SpecificPayables
Unit:RMB
| Item | Beginningbalance | Increase | Decrease | Endingbalance | Reasonforformation |
Othernotes:
49.Long-termPayrollPayable
(1)ListofLong-termPayrollPayable
Unit:RMB
| Item | Endingbalance | Beginningbalance |
(2)ChangesinDefinedBenefitPlans
Obligationpresentvalueofdefinedbenefitplans:
Unit:RMB
| Item | Reportingperiod | Sameperiodoflastyear |
Planassets:
Unit:RMB
| Item | Reportingperiod | Sameperiodoflastyear |
Netliabilities(netassets)ofdefinedbenefitplans:
Unit:RMB
| Item | Reportingperiod | Sameperiodoflastyear |
Notesofinfluenceofcontentofdefinedbenefitplansanditsrelevantriskstothefuturecashflow,timeanduncertaintyoftheCompany:
Notestotheresultsofsignificantactuarialassumptionsandsensitivityanalysisofdefinedbenefitplans:
Othernotes:
Notapplicable.
50.Provisions
Unit:RMB
| Item | Endingbalance | Beginningbalance | Reasonforformation |
| Pendinglitigation | 2,903,327.87 | 2,903,327.87 | Contractdisputes |
| Total | 2,903,327.87 | 2,903,327.87 | -- |
Othernotes,includingnotestorelatedsignificantassumptionsandevaluationofsignificantprovisions:
RefertoNoteXIV(2)fordetails.
51.DeferredIncome
Unit:RMB
| Item | Beginningbalance | Increase | Decrease | Endingbalance | Reasonforformation |
| Governmentgrants | 341,259.63 | 24,375.69 | 316,883.94 | Governmentgrants |
| forHuangyuyuanPrimarySchool | |||||
| Total | 341,259.63 | 24,375.69 | 316,883.94 | -- |
Iteminvolvinggovernmentgrants:
Unit:RMB
| Item | Beginningbalance | Amountofnewlysubsidy | Amountrecordedintonon-operatingincomeintheReportingPeriod | AmountrecordedintootherincomeintheReportingPeriod | AmountoffsetcostintheReportingPeriod | Otherchanges | Endingbalance | Relatedtoassets/relatedtoincome |
| GovernmentgrantsforHuangyuyuanPrimarySchool | 341,259.63 | 24,375.69 | 316,883.94 | Relatedtoassets |
Othernotes:
52.OtherNon-currentLiabilities
Unit:RMB
| Item | Endingbalance | Beginningbalance |
| Utilityspecificfund | 237,163.63 | 237,163.63 |
| Housingprinciplefund | 11,841,425.22 | 13,215,811.13 |
| Housewarmingdeposit | 7,034,466.22 | 7,052,274.22 |
| ElectricEquipmentMaintenancefund | 4,019,415.44 | 4,019,415.44 |
| Deputedmaintenancefund | 47,144,427.77 | 36,337,634.47 |
| Follow-upinvestmentofemployeesforGuanlanBanglingproject | 40,000,000.00 | 40,000,000.00 |
| Other | 1,355,416.78 | 7,302,438.57 |
| Total | 111,632,315.06 | 108,164,737.46 |
Othernotes:
53.ShareCapital
Unit:RMB
| Beginningbalance | Increase/decrease(+/-) | Endingbalance | ||||
| Newsharesissued | Bonusshares | Bonusissuefromprofit | Other | Subtotal | ||
| Thesumofshares | 595,979,092.00 | 595,979,092.00 |
Othernotes:
54.OtherEquityInstruments
(1)TheBasicInformationofOtherFinancialInstrumentssuchasPreferredStockandPerpetualBondOutstandingattheEndofthePeriod
(2)ChangesinFinancialInstrumentssuchasPreferredStockandPerpetualBondOutstandingattheEndofthePeriod
Unit:RMB
| Outstandingfinancialinstruments | Period-begin | Increase | Decrease | Period-end | ||||
| Amount | Carryingvalue | Amount | Carryingvalue | Amount | Carryingvalue | Amount | Carryingvalue | |
ThecurrentchangesinotherequityinstrumentsandthecorrespondingreasonsandthebasisoftherelevantaccountingtreatmentOthernotes:
Notapplicable.
55.CapitalReserve
Unit:RMB
| Item | Beginningbalance | Increase | Decrease | Endingbalance |
| Othercapitalreserves | 80,488,045.38 | 80,488,045.38 | ||
| Total | 80,488,045.38 | 80,488,045.38 |
Othernotes,includingchangesandreasonofchange:
56.TreasuryShares
Unit:RMB
| Item | Beginningbalance | Increase | Decrease | Endingbalance |
Othernotes,includingchangesandreasonofchange:
Notapplicable.
57.OtherComprehensiveIncome
Unit:RMB
| Item | Beginningbalance | ReportingPeriod | Endingbalance | |||||
| Incomebefore | Less:Recordedin | Less:Recorded | Less:Income | Attributableto | Attributableto | |||
| taxationintheCurrentPeriod | othercomprehensiveincomeinpriorperiodandtransferredinprofitorlossintheCurrentPeriod | intoothercomprehensiveincomeinpriorperiodandtransferredinretainedearningsintheCurrentperiod | taxexpense | ownersoftheCompanyastheparentaftertax | non-controllinginterestsaftertax | |||
| I.Othercomprehensiveincomethatmaynotbereclassifiedtoprofitorloss | -2,051,268.24 | -455,146.16 | -455,146.16 | -2,506,414.40 | ||||
| Changesinfairvalueofotherequityinstrumentinvestment\ | -2,051,268.24 | -455,146.16 | -455,146.16 | -2,506,414.40 | ||||
| II.Othercomprehensiveincomethatmaysubsequentlybereclassifiedtoprofitorloss | -647,103.20 | 1,032,011.50 | 1,032,011.50 | 384,908.30 | ||||
| Differencesarisingfromtranslationofforeigncurrencydenominatedfinancialstatements | -647,103.20 | 1,032,011.50 | 1,032,011.50 | 384,908.30 | ||||
| Totalofothercomprehensiveincome | -2,698,371.44 | 576,865.34 | 576,865.34 | -2,121,506.10 |
Othernotes,includingtheadjustmentoftheeffectivegain/lossoncashflowhedgestotheinitialrecognizedamount:
58.SpecificReserve
Unit:RMB
| Item | Beginningbalance | Increase | Decrease | Endingbalance |
Othernotes,includingchangesandreasonofchange:
Notapplicable.
59.SurplusReserves
Unit:RMB
| Item | Beginningbalance | Increase | Decrease | Endingbalance |
| Statutorysurplusreserves | 16,695,044.92 | 16,695,044.92 |
| Discretionarysurplusreserve | 365,403.13 | 365,403.13 | |
| Total | 17,060,448.05 | 17,060,448.05 |
Notes,includingchangesandreasonofchange:
60.RetainedEarnings
Unit:RMB
| Item | ReportingPeriod | Sameperiodoflastyear |
| Beginningbalanceofretainedearningsbeforeadjustments | 2,457,119,795.39 | 2,495,296,440.15 |
| Beginningbalanceofretainedearningsafteradjustments | 2,457,119,795.39 | 2,495,296,440.15 |
| Add:NetprofitattributabletoownersoftheCompanyastheparent | 211,967,734.76 | 155,922,425.40 |
| Dividendofordinarysharespayable | 214,552,473.12 | 178,793,727.60 |
| Other | 204,015,557.97 | |
| Endingretainedearnings | 2,454,535,057.03 | 2,268,409,579.98 |
Listofadjustmentofbeginningretainedearnings:
(1)RMB0.00beginningretainedearningswasaffectedbyretrospectiveadjustmentconductedaccordingtotheAccountingStandardsforBusinessEnterprisesandrelevantnewregulations.
(2)RMB0.00beginningretainedearningswasaffectedbychangesinaccountingpolicies.
(3)RMB0.00beginningretainedearningswasaffectedbycorrectionofsignificantaccountingerrors.
(4)RMB0.00beginningretainedearningswasaffectedbychangesincombinationscopearisingfromsamecontrol.
(5)RMB0.00beginningretainedearningswasaffectedtotallybyotheradjustments.
61.OperatingRevenueandCostofSales
Unit:RMB
| Item | ReportingPeriod | Sameperiodoflastyear | ||
| Operatingrevenue | Costofsales | Operatingrevenue | Costofsales | |
| Mainoperations | 1,388,266,376.69 | 596,935,670.85 | 1,023,860,469.96 | 582,867,402.64 |
| Otheroperations | 32,811,391.14 | 14,759,272.95 | 41,620,412.34 | 16,808,126.14 |
| Total | 1,421,077,767.83 | 611,694,943.80 | 1,065,480,882.30 | 599,675,528.78 |
Relevantinformationofrevenue:
Unit:RMB
| Categoryof | Segment1 | Segment2 | Segmentofreal | Segmentofproperty | Total |
| contracts | estate | management | ||
| Ofwhich: | ||||
| Realestate | 858,698,806.07 | 858,698,806.07 | ||
| Lease | 71,395,976.18 | 71,395,976.18 | ||
| Propertymanagement | 490,591,863.98 | 490,591,863.98 | ||
| Other | 391,121.60 | 391,121.60 | ||
| Total | 930,485,903.85 | 490,591,863.98 | 1,421,077,767.83 | |
| Ofwhich: | ||||
| Shenzhen | 887,005,216.90 | 323,029,209.74 | 1,210,034,426.64 | |
| Dongguan | 17,218,092.99 | 3,500,404.46 | 20,718,497.45 | |
| Other | 26,262,593.96 | 164,062,249.78 | 190,324,843.74 | |
| Total | 930,485,903.85 | 490,591,863.98 | 1,421,077,767.83 | |
| Ofwhich: | ||||
| Ofwhich: | ||||
| Ofwhich: | ||||
| Products(transfertorevenueincertaintimeandplace) | 858,698,806.07 | 858,698,806.07 | ||
| Servicesandlaborservices(withdrawrevenueincertaintime) | 71,787,097.78 | 490,591,863.98 | 562,378,961.76 | |
| Total | 930,485,903.85 | 490,591,863.98 | 1,421,077,767.83 | |
| Ofwhich: | ||||
| Ofwhich: |
Informationrelatedtoperformanceobligations:
On30June2020,thetransactionpriceassignedtounfulfilled(orpartiallyunfulfilled)performanceobligationswasestimatedtoRMB319million,whichismainlyexpectedfuturerevenueoftransactionpricethathaven’tmetthedeliveryconditionsstipulatedinsalescontractsofrealestate.TheCompanyisexpectedtorecognizetherealizationofsalesrevenuewithinonetotwoyearswhenthehousepropertyiscompletedandpassedtheacceptancewhichmeetthedeliveryconditionsstipulatedinsalescontracts,andwhenthecustomersacquirethecontrolrightsofrelevantgoodsorservices.Informationrelatedtotransactionvalueassignedtoresidualperformanceobligations:
TheamountofrevenuecorrespondingtoperformanceobligationsofcontractssignedbutnotperformedornotfullyperformedyetwasRMB319,303,958.11attheperiod-end,amongwhichRMB120,122,226.00wasexpectedtoberecognizedin2020,RMB199,181,732.11in2021andRMBXXXinXXXyear.OthernotesTheCompanyneedstocomplywiththedisclosurerequirementsofShenzhenStockExchangeIndustryInformationDisclosure
GuidelinesNo.3-ListedCompaniesEngagedinRealEstateIndustryThetop5accountsreceivedwithconfirmedamountintheReportingPeriod:
Unit:RMB
| No. | Nameofproject | Incomebalance |
| 1 | GoldenCollar’sResortBBuilding | 806,676,918.09 |
| 2 | BanshanYujingPhaseI | 18,021,691.42 |
| 3 | SZPRD-SonghuLangyuan | 17,218,092.99 |
| 4 | HupanYujingPhaseII | 4,910,299.99 |
| 5 | HupanYujingPhaseI | 3,169,110.11 |
62.TaxesandSurtaxes
Unit:RMB
| Item | ReportingPeriod | Sameperiodoflastyear |
| Urbanmaintenanceandconstructiontax | 4,909,118.92 | 3,492,372.40 |
| EducationSurcharge | 2,190,590.78 | 1,527,504.48 |
| Propertytax | 4,767,394.20 | 5,537,862.44 |
| Landusetax | 416,264.69 | 515,594.86 |
| Stamptax | 349,634.68 | 679,836.88 |
| Localeducationsurtax | 1,342,087.15 | 1,020,664.08 |
| LandVAT | 380,741,616.91 | 112,267,887.84 |
| Othertaxes | 26,773.28 | 23,301.88 |
| Total | 394,743,480.61 | 125,065,024.86 |
Othernotes:
63.SellingExpense
Unit:RMB
| Item | ReportingPeriod | Sameperiodoflastyear |
| Agencyfee | 2,151,630.50 | 2,482,978.21 |
| Consultancyandsalesservicecharges | 3,853,286.19 | 9,063,475.32 |
| Advertising | 914,173.18 | 3,240,236.82 |
| Employeebenefits | 2,569,826.33 | 1,972,134.95 |
| Other | 2,055,143.99 | 1,533,899.42 |
| Total | 11,544,060.19 | 18,292,724.72 |
Othernotes:
64.AdministrativeExpense
Unit:RMB
| Item | ReportingPeriod | Sameperiodoflastyear |
| Employeebenefits | 63,277,704.59 | 56,827,778.30 |
| Administrativeofficecost | 4,730,219.94 | 8,030,632.94 |
| Assetsamortizationanddepreciationexpense | 5,064,453.12 | 2,630,845.23 |
| Litigationcosts | 521,647.00 | 1,496,981.13 |
| Other | 14,838,979.70 | 14,243,058.51 |
| Total | 88,433,004.35 | 83,229,296.11 |
Othernotes:
65.DevelopmentExpense
Unit:RMB
| Item | ReportingPeriod | Sameperiodoflastyear |
Othernotes:
Notapplicable.
66.FinanceCosts
Unit:RMB
| Item | ReportingPeriod | Sameperiodoflastyear |
| Interestexpense | 84,859,496.80 | 73,970,116.57 |
| Less:Interestincome(fillinbynegative) | -31,227,361.24 | -31,182,804.42 |
| Foreignexchangegainsorlosses | 100,514.83 | 1,473,105.81 |
| Other | -286,332.01 | 646,652.97 |
| Total | 53,446,318.38 | 44,907,070.93 |
Othernotes:
67.OtherIncome
Unit:RMB
| Sources | ReportingPeriod | Sameperiodoflastyear |
| Governmentgrantsrelatedtoincome | 82,514.69 | 15,668.48 |
| Governmentgrantsrelatedtoassets | 24,375.69 | |
| Commissionchargesreturnofdeductible | 196,952.96 | 9,501.12 |
| incometax | ||
| AdditionaldeductionofVAT | 2,618,150.17 | 346,650.92 |
| Total | 2,921,993.51 | 371,820.52 |
68.InvestmentIncome
Unit:RMB
| Item | ReportingPeriod | Sameperiodoflastyear |
| Long-termequityinvestmentincomeaccountedbyequitymethod | 157,061.79 | 780,826.57 |
| Total | 157,061.79 | 780,826.57 |
Othernotes:
69．NetGainonExposureHedges
Unit:RMB
| Item | ReportingPeriod | Sameperiodoflastyear |
Othernotes:
Notapplicable.
70.GainonChangesinFairValue
Unit:RMB
| Sources | ReportingPeriod | Sameperiodoflastyear |
Othernotes:
Notapplicable.
71.CreditImpairmentLoss
Unit:RMB
| Item | ReportingPeriod | Sameperiodoflastyear |
| Baddebtlossofotherreceivables | 1,115,927.46 | -3,911,410.39 |
| Total | 1,115,927.46 | -3,911,410.39 |
Othernotes:
72.AssetImpairmentLoss
Unit:RMB
| Item | ReportingPeriod | Sameperiodoflastyear |
| II.Lossoninventoryvaluationandcontractperformancecost | 1,832.91 | 1,333,825.60 |
| Total | 1,832.91 | 1,333,825.60 |
Othernotes:
73.AssetDisposalIncome
Unit:RMB
| Sources | ReportingPeriod | Sameperiodoflastyear |
74.Non-operatingIncome
Unit:RMB
| Item | ReportingPeriod | Sameperiodoflastyear | Amountrecordedinthecurrentnon-recurringprofitorloss |
| Governmentgrants | 3,588,738.19 | 787,776.97 | 3,340,160.83 |
| Gainsondamageandscrapofnon-currentassets | 14,826.92 | 240.00 | 14,826.92 |
| Compensationincome | 313,043.22 | 578,755.77 | 313,043.22 |
| Accountsunpayable | 4,894,354.00 | ||
| Other | 327,567.57 | 614,291.72 | 576,144.93 |
| Total | 4,244,175.90 | 6,875,418.46 | 4,244,175.90 |
Governmentgrantsrecordedintocurrentprofitorloss
Unit:RMB
| Item | Distributionentity | Distributionreason | Nature | Whetherinfluencetheprofitsorlossesoftheyearornot | Specialsubsidyornot | ReportingPeriod | Sameperiodoflastyear | Relatedtoassets/relatedtoincome |
| Subsidyofepidemicprevention | Relevantdepartmentsoflocalgovernments | Subsidy | Obtainedbyundertakingstate’sfunctionsofensuringcertainpublicserviceorsocialnecessaryproductssupplyor | No | No | 3,588,738.19 | Relatedtoincome |
Othernotes:
75.Non-operatingExpense
Unit:RMB
pricecontrol
Item
| Item | ReportingPeriod | Sameperiodoflastyear | Amountrecordedinthecurrentnon-recurringprofitorloss |
| Donation | 2,030,000.00 | 5,000.00 | 2,030,000.00 |
| Penaltyandfinefordelayingpayment | 27,535.95 | 64,407.89 | 27,535.95 |
| Other | 341,951.75 | 1,744,191.41 | 341,951.75 |
| Total | 2,399,487.70 | 1,813,599.30 | 2,399,487.70 |
Othernotes:
76.IncomeTaxExpense
(1)ListofIncomeTaxExpense
Unit:RMB
| Item | ReportingPeriod | Sameperiodoflastyear |
| Currentincometaxexpense | 97,681,962.31 | 92,279,418.86 |
| Deferredincometaxexpense | -8,287,946.60 | -22,558,114.36 |
| Total | 89,394,015.71 | 69,721,304.50 |
(2)AdjustmentProcessofAccountingProfitandIncomeTaxExpense
Unit:RMB
| Item | ReportingPeriod |
| Profitbeforetaxation | 267,257,464.37 |
| Currentincometaxexpenseaccountedatstatutory/applicabletaxrate | 66,814,366.09 |
| Influenceofapplyingdifferenttaxratesbysubsidiaries | -284,867.54 |
| Influenceofincometaxbeforeadjustment | 2,188,240.96 |
| Influenceofnon-deductiblecosts,expensesandlosses | 1,406,601.97 |
| InfluenceofdeductibletemporarydifferenceordeductiblelossesofunrecognizeddeferredincometaxintheReportingPeriod | 19,269,674.23 |
| Incometaxexpense | 89,394,015.71 |
Othernotes
77.OtherComprehensiveIncome
RefertoNoteVII-57fordetails.
78.CashFlowStatement
(1)CashGeneratedfromOtherOperatingActivities
Unit:RMB
| Item | ReportingPeriod | Sameperiodoflastyear |
| Largeintercoursefundsreceived | 274,561,798.03 | 31,787,416.36 |
| Interestincome | 20,729,921.32 | 30,258,952.97 |
| Netmargins,securitydepositandvariousspecialfundsreceived | 2,825,399.61 | 118,506.00 |
| Accidentfeeandotherpaymentsonbehalfreceived | 32,970,968.51 | 51,880,090.73 |
| Othersmallreceivables | 2,631,928.91 | 1,842,628.36 |
| Total | 333,720,016.38 | 115,887,594.42 |
Notes:
(2)CashUsedinOtherOperatingActivities
Unit:RMB
| Item | ReportingPeriod | Sameperiodoflastyear |
| Payingadministrativeexpenseincash | 20,150,492.86 | 22,944,468.53 |
| Payingsellingexpenseincash | 20,841,852.20 | 18,292,724.74 |
| Largeintercoursefundspaid | 48,968,020.00 | |
| Othersmallpayments | 1,265,190.63 | 3,453,560.15 |
| Total | 91,225,555.69 | 44,690,753.42 |
Notes:
(3)CashGeneratedfromOtherInvestingActivities
Unit:RMB
| Item | ReportingPeriod | Sameperiodoflastyear |
Notes:
Notapplicable.
(4)CashUsedinOtherInvestingActivities
Unit:RMB
| Item | ReportingPeriod | Sameperiodoflastyear |
Notes:
Notapplicable.
(5)CashGeneratedfromOtherFinancingActivities
Unit:RMB
| Item | ReportingPeriod | Sameperiodoflastyear |
Notes:
Notapplicable.
(6)CashUsedinOtherFinancingActivities
Unit:RMB
| Item | ReportingPeriod | Sameperiodoflastyear |
Notes:
Notapplicable.
79.SupplementalInformationforCashFlowStatement
(1)SupplementalInformationforCashFlowStatement
Unit:RMB
| Supplementalinformation | ReportingPeriod | Sameperiodoflastyear |
| 1.Reconciliationofnetprofittonetcashflowsgeneratedfromoperatingactivities | -- | -- |
| Netprofit | 177,863,448.66 | 128,226,813.86 |
| Add:Provisionforimpairmentofassets | -1,117,760.37 | 2,577,584.79 |
| Depreciationoffixedassets,oilandgasassets,andproductivelivingassets | 24,423,533.46 | 22,093,496.17 |
| Amortizationofintangibleassets | 109,162.21 | 109,162.21 |
| Amortizationoflong-termprepaidexpenses | 1,555,086.14 | 727,444.43 |
| Losondisposaloffixedassets,intangibleassetsandotherlong-termassets(gains:negative) | 0.00 | 0.00 |
| Lossesonscrapoffixedassets(gains:negative) | -14,826.92 | -240.00 |
| Financecosts(gains:negative) | 84,859,496.80 | 73,970,116.57 |
| Investmentloss(gains:negative) | -157,061.79 | -780,826.57 |
| Decreaseindeferredincometaxassets(gains:negative) | -8,287,946.60 | -22,558,114.36 |
| Increaseindeferredincometaxliabilities(“-”meansdecrease) | 0.00 | -994.04 |
| Decreaseininventory(gains:negative) | -455,620,688.15 | -955,764,832.88 |
| Decreaseinaccountsreceivablegeneratedfromoperatingactivities(gains:negative) | 32,911,883.76 | -87,626,285.03 |
| Increaseinaccountspayableusedinoperatingactivities(decrease:negative) | -1,479,706,466.10 | 442,338,663.15 |
| Netcashgeneratedfrom/usedinoperatingactivities | -1,623,182,138.90 | -396,688,011.70 |
| 2.Significantinvestingandfinancingactivitieswithoutinvolvementofcashreceiptsandpayments | -- | -- |
| 3.Netincrease/decreaseofcashandcashequivalent: | -- | -- |
| Endingbalanceofcash | 3,056,069,770.97 | 3,049,721,635.90 |
| Less:Beginningbalanceofcash | 3,285,345,233.47 | 3,881,027,257.89 |
| Netincreaseincashandcashequivalents | -229,275,462.50 | -831,305,621.99 |
(2)NetCashPaidForAcquisitionofSubsidiaries
Unit:RMB
| Amount | |
| Ofwhich: | -- |
| Ofwhich: | -- |
| Add:PaymentofcashorcashequivalentsintheCurrentPeriodforpreviousenterprisecombination | 465,807,569.82 |
| Ofwhich: | -- |
| Netpaymentsforacquisitionofsubsidiaries | 465,807,569.82 |
Othernotes:
ThefinalpaymentforacquisitionofequityinShenzhenToukongPropertyManagementCo.,Ltd..
(3)NetCashReceivefromDisposaloftheSubsidiaries
Unit:RMB
| Amount | |
| Ofwhich: | -- |
| Ofwhich: | -- |
| Ofwhich: | -- |
Othernotes:
Notapplicable.
(4)CashandCashEquivalents
Unit:RMB
| Item | Endingbalance | Beginningbalance |
| I.Cash | 3,056,069,770.97 | 3,285,345,233.47 |
| Including:Cashonhand | 164,191.19 | 130,048.49 |
| Bankdepositondemand | 3,043,214,965.74 | 3,272,524,570.94 |
| Othermonetaryassetsondemand | 12,690,614.04 | 12,690,614.04 |
| III.Endingbalanceofcashandcashequivalents | 3,056,069,770.97 | 3,285,345,233.47 |
Othernotes:
80.NotestoItemsoftheStatementsofChangesinOwners’EquityNotestothenameof“Other”ofendingbalanceofthesameperiodoflastyearadjustedandtheamountadjusted:
Notapplicable.
81.AssetswithRestrictedOwnershiporRightofUse
Unit:RMB
| Item | Endingcarryingvalue | Reasonforrestriction |
| Monetaryassets | 22,871,902.65 | Note1,Note2,Note3,Note4 |
| Total | 22,871,902.65 | -- |
Othernotes:
Note1:Intermsofmonetaryassetswithrestrictedrighttouseattheperiod-end,therewaslimitedcapitaloffrozenaccountwithRMB11,018.00inthesubsidiarycompanyShenzhenHuazhengpengPropertyManagementCo.,Ltd.,RMB7,063,237.32inthesubsidiarycompanyShenzhenTaixinliPropertyManagementCo.,Ltd.aswell.RefertoNoteXIV-(II)1forrelevantmattersinvolvedwithlawsuitfordetails.Note2:Intermsofmonetaryassetswithrestrictedrighttouseattheperiod-end,therewasguaranteedepositofRMB49,020.00paidtotheperformanceguaranteeNo.20190531SLYLsignedbetweenthesubsidiarycompanyShenzhenShenlvGardenTechnologyIndustrialCo.,Ltd.andShenzhenUrbanGreeningManagementDepartmenton31May2019.Note3:Intermsofmonetaryassetswithrestrictedrighttouseattheperiod-end,asarealestatedeveloper,theCompanyhas
providedmortgageguaranteesforcommercialhousingpurchasersandpaidloanguaranteesofRMB1,120,910.60accordingtorealestatebusinesspractices.RefertoNoteXIV-(II)2fordetails.Note4:Intermsofmonetaryassetswithrestrictedrighttouseattheperiod-end,therewasinterestoffixedtimedepositofRMB14,627,716.73unduebutwithdrawnattheperiod-end.
82.ForeignCurrencyMonetaryItems
(1)ForeignCurrencyMonetaryItems
Unit:RMB
| Item | Endingforeigncurrencybalance | Exchangerate | EndingbalanceconvertedtoRMB |
| Monetaryassets | -- | -- | |
| Ofwhich:USD | |||
| EUR | |||
| HKD | 61,337,962.53 | 0.9134 | 56,026,094.97 |
| Accountsreceivable | -- | -- |
| Ofwhich:USD | ||
| EUR | ||
| HKD |
| Long-termborrowings | -- | -- | |
| Ofwhich:USD | |||
| EUR | |||
| HKD | |||
| Otherequityinstrumentinvestment | |||
| Ofwhich:USD | 91,707.93 | 7.0795 | 649,246.29 |
Othernotes:
(2)NotestoOverseasEntitiesIncluding:forSignificantOverseaEntities,MainOperatingPlace,RecordingCurrencyandSelectionBasisShallBeDisclosed;ifthereAreChangesinRecordingCurrency,RelevantReasonsShallBeDisclosed.
√Applicable□Notapplicable
| Item | Mainoperatingplace | Recordingcurrency | Basisforchoosing |
| ShumYipPropertiesDevelopmentCo.,Ltd.anditssubsidiary | HongKong | HKD | LocatedinHK,settledbyHKD |
83.Arbitrage
Qualitativeandquantitativeinformationofrelevantarbitrageinstruments,hedgedriskinlinewiththetypeofarbitragetodisclose:
Notapplicable.
84.GovernmentGrants
(1)BasicInformationonGovernmentGrants
Unit:RMB
| Category | Amount | Listeditems | Amountrecordedinthecurrentprofitorloss |
| SmallandmicrobusinessesVATexemption | 23,941.71 | Non-operatingincome | 23,941.71 |
| ReinforcementsubsidyofHuangyuyuanPrimarySchool | 24,375.69 | Otherincome | 24,375.69 |
| Stablepostsubsidy | 58,572.98 | Otherincome | 58,572.98 |
| Subsidyofepidemicprevention | 3,588,738.19 | Non-operatingincome | 3,588,738.19 |
| Total | 3,695,628.57 | 3,695,628.57 |
(2)ReturnofGovernmentGrants
□Applicable√NotapplicableOthernotes:
85.OtherNotapplicable.VIII.ChangesofConsolidationScope
1.BusinessCombinationNotundertheSameControl
(1)BusinessCombinationNotundertheSameControlduringtheReportingPeriod
Unit:RMB
| Nameofacquiree | Timeandplaceof | Costofgainingthe | Proportionofequity | Waytogaintheequity | Purchasedate | Recognitionbasisof | Incomeofacquireefrom | Netprofitsofacquireefrom |
| gainingtheequity | equity | purchasedate | thepurchasedatetoperiod-end | thepurchasedatetoperiod-end |
Othernotes:
(2)CombinationCostandGoodwill
Unit:RMB
Notetodeterminationmethodofthefairvalueofthecombinationcost,considerationandchanges:
Themainformationreasonforthelargegoodwill:
Othernotes:
(3)TheIdentifiableAssetsandLiabilitiesofAcquireeonPurchaseDate
Unit:RMB
CombinationcostFairvalueonpurchasedate
| Fairvalueonpurchasedate | Carryingvalueonpurchasedate |
Thedeterminationmethodofthefairvalueofidentifiableassetsandliabilities:
Contingentliabilityofacquireeundertakeninthebusinesscombination:
Othernotes:
(4)GainsorlossesfromRe-measurementofEquityHeldbeforethePurchaseDateatFairValue
WhetherthereisatransactionthatthroughmultipletransactionstepbysteptorealizebusinesscombinationandgainingthecontrolduringtheReportingPeriod
□Yes√No
(5)NotestoReasonableConsiderationorFairValueofIdentifiableAssetsandLiabilitiesoftheAcquireethatCannotBeDeterminedontheAcquisitionDateorduringthePeriod-endoftheMerger
(6)OtherNotesNotapplicable.
2.BusinessCombinationundertheSameControl
(1)BusinessCombinationundertheSameControlduringtheReportingPeriod
Unit:RMB
| Combinedparty | Proportionoftheequity | Basis | Combinationdate | Recognitionbasisof | Incomefromthe | Netprofitsfromthe | Incomeoftheacquiree | Netprofitsoftheacquiree |
| combinationdate | period-begintothecombinationdateoftheacquiree | period-begintothecombinationdateoftheacquiree | duringtheperiodofcomparison | duringtheperiodofcomparison |
Othernotes:
(2)CombinationCost
Unit:RMB
ContingentliabilitiesofthecombinedpartyundertakeninthebusinesscombinationOthernotes:
(3)TheCarryingValueofAssetsandLiabilitiesoftheCombinedPartyontheCombinationDate
Unit:RMB
CombinationcostCombinationdate
| Combinationdate | Period-endofthelastperiod |
Contingentliabilitiesofthecombinedpartyundertakeninthebusinesscombination:
Othernotes:
Notapplicable.
3.CounterPurchaseBasicinformationoftrading,thebasisoftransactionsconstitutecounterpurchase,theretainassets,liabilitiesofthelistedcompanieswhetherconstitutedabusinessanditsbasis,thedeterminationofthecombinationcosts,theamountandcalculationofadjustedrightsandinterestsinaccordancewiththeequitytransactionprocess:
Notapplicable.
4.DisposalofSubsidiaryWhetherthereisasingledisposaloftheinvestmenttothesubsidiaryandlostcontrol?
□Yes√NoWhetherthereareseveraldisposalsoftheinvestmenttothesubsidiaryandlostcontrols?
□Yes√No
5.ChangesinCombinationScopeforOtherReasons
Notetochangesincombinationscopeforotherreasons(suchasnewestablishmentorliquidationofsubsidiaries,etc.)andrelevantinformation:
Notapplicable.
6.OtherNotapplicable.
IX.EquityinOtherEntities
1.EquityinSubsidiary
(1)Subsidiaries
| Name | Mainoperatingplace | Registrationplace | Natureofbusiness | Holdingpercentage(%) | Wayofgaining | |
| Directly | Indirectly | |||||
| ShenzhenHuangchengRealEstateCo.,Ltd. | Shenzhen | Shenzhen | Realestate | 100.00% | Set-up | |
| SZPRDRealEstateDevelopmentCo.,Ltd. | Shenzhen | Shenzhen | Realestate | 100.00% | Set-up | |
| PRDGroupXuzhouDapengRealEstateDevelopmentCo.,Ltd. | Xuzhou | Xuzhou | Realestate | 100.00% | Set-up | |
| DongguanInternationalTradeCenterChangshengRealEstateDevelopmentCo.,Ltd. | Dongguan | Dongguan | Realestate | 100.00% | Set-up | |
| PRDYangzhouRealEstateDevelopmentCo.,Ltd. | Yangzhou | Yangzhou | Realestate | 100.00% | Set-up | |
| ShenzhenInternationalTradeCenterPropertyManagementCo.,Ltd. | Shenzhen | Shenzhen | Realestate | 100.00% | Set-up | |
| Shenzhen | Shenzhen | Shenzhen | Realestate | 100.00% | Set-up | |
| HuangchengRealEstateManagementCo.,Ltd. | ||||||
| ShandongShenzhenInternationalTradeCenterPropertyManagementCo.,Ltd. | Jinan | Jinan | Realestate | 100.00% | Set-up | |
| ChongqingShenzhenInternationalTradeCenterPropertyManagementCo.,Ltd. | Chongqing | Chongqing | Realestate | 100.00% | Set-up | |
| ChongqingAoboElevatorCo.,Ltd. | Chongqing | Chongqing | Service | 100.00% | Set-up | |
| ChongqingTianqueElevatorTechnologyCo.,Ltd. | Shenzhen | Shenzhen | Service | 100.00% | Set-up | |
| ShenzhenGuoguanElectromechanicalDeviceCo.,Ltd. | Shenzhen | Shenzhen | Service | 100.00% | Set-up | |
| ShenzhenInternationalTradeCenterCateringCo.,Ltd. | Shenzhen | Shenzhen | Hotelsandcateringservices | 100.00% | Set-up | |
| ShenzhenPropertyEngineeringConstructionSupervisionCo.,Ltd. | Shenzhen | Shenzhen | Service | 100.00% | Set-up | |
| SZPRDOperationandManagementofRealEstate | Shenzhen | Shenzhen | Service | 100.00% | Set-up |
| AssetsCo.,Ltd. | ||||||
| ZhanjiangShenzhenRealEstateDevelopmentCo.,Ltd. | Zhanjiang | Zhanjiang | Realestate | 100.00% | Set-up | |
| ShumYipPropertiesDevelopmentCo.,Ltd. | HongKong | HongKong | Realestate | 100.00% | Set-up | |
| WayhangDevelopmentCo.,Ltd. | HongKong | HongKong | Realestate | 100.00% | Set-up | |
| ChiefLinkPropertiesCo.,Ltd. | HongKong | HongKong | Realestate | 70.00% | Set-up | |
| SyndisInvestmentCo.,Ltd. | HongKong | HongKong | Realestate | 70.00% | Businesscombinationnotunderthesamecontrol | |
| YangzhouSlenderWestLakeJingyuePropertyDevelopmentCo.,Ltd. | Yangzhou | Yangzhou | Realestate | 51.00% | Set-up | |
| ShandongInternationalTradeCenterHotelManagementCo.,Ltd. | Jinan | Jinan | Realestate | 100.00% | Set-up | |
| ShenzhenShenshanSpecialCooperationZoneGuomaoPropertyDevelopmentCo.,Ltd. | Shenzhen | Shenzhen | Realestate | 65.00% | Set-up | |
| ShenzhenGuomaoTonglePropertyManagementCo., | Shenzhen | Shenzhen | Realestate | 51.00% | Set-up |
| Ltd. | ||||||
| ShenzhenRongyaoRealEstateDevelopmentCo.,Ltd. | Shenzhen | Shenzhen | Realestate | 69.00% | Businesscombinationnotunderthesamecontrol | |
| ShenzhenToukongPropertyManagementCo.,Ltd. | Shenzhen | Shenzhen | Realestate | 100.00% | Businesscombinationunderthesamecontrol | |
| ShenzhenJulianHumanResourcesDevelopmentCo.,Ltd. | Shenzhen | Shenzhen | Service | 100.00% | Businesscombinationunderthesamecontrol | |
| ShenzhenHuazhengpengPropertyManagementDevelopmentCo.,Ltd. | Shenzhen | Shenzhen | Realestate | 100.00% | Businesscombinationunderthesamecontrol | |
| ShenzhenTaixinliPropertyManagementCo.,Ltd. | Shenzhen | Shenzhen | Realestate | 100.00% | Businesscombinationunderthesamecontrol | |
| ShenzhenPenghongyuanIndustrialDevelopmentCo.,Ltd. | Shenzhen | Shenzhen | Hotelsandcateringservices | 100.00% | Businesscombinationunderthesamecontrol | |
| ShenzhenJinhailianPropertyManagementCo.,Ltd. | Shenzhen | Shenzhen | Realestate | 100.00% | Businesscombinationunderthesamecontrol | |
| ShenzhenSocialWelfareCo.,Ltd. | Shenzhen | Shenzhen | Healthandsocialwork | 100.00% | Businesscombinationunderthesamecontrol | |
| ShenzhenFuyuanminPropertyManagement | Shenzhen | Shenzhen | Realestate | 90.00% | Businesscombinationunderthesame |
| LimitedLiabilityCompany | control | |||||
| ShenzhenMeilongIndustrialDevelopmentCo.,Ltd. | Shenzhen | Shenzhen | Service | 100.00% | Businesscombinationunderthesamecontrol | |
| ShenzhenShenlvGardenTechnologyIndustrialCo.,Ltd. | Shenzhen | Shenzhen | Publicfacilitiesmanagement | 90.00% | Businesscombinationunderthesamecontrol | |
| ShenzhenJiayuanPropertyManagementCo.,Ltd. | Shenzhen | Shenzhen | Realestate | 54.00% | Businesscombinationunderthesamecontrol | |
| ShenzhenHelinhuaConstructionManagementCo.,Ltd. | Shenzhen | Shenzhen | Realestate | 90.00% | Businesscombinationunderthesamecontrol | |
| ShenzhenZhongtongdaHouseXiushanServiceCo.,Ltd. | Shenzhen | Shenzhen | Constructionindustry | 90.00% | Businesscombinationunderthesamecontrol | |
| ShenzhenKangpingIndustrialCo.,Ltd. | Shenzhen | Shenzhen | Retailbusiness | 90.00% | Businesscombinationunderthesamecontrol | |
| ShenzhenSportsServiceCo.,Ltd. | Shenzhen | Shenzhen | Manufacturingindustry | 100.00% | Businesscombinationunderthesamecontrol | |
| ShenzhenTeacher’sHomeTrainingCo.,Ltd. | Shenzhen | Shenzhen | Retailbusiness | 100.00% | Businesscombinationunderthesamecontrol | |
| ShenzhenEducationIndustrialCo.,Ltd. | Shenzhen | Shenzhen | Service | 100.00% | Businesscombinationunderthesamecontrol |
| ShenzhenYufaIndustrialCo.,Ltd. | Shenzhen | Shenzhen | Retailbusiness | 80.95% | Businesscombinationunderthesamecontrol |
Notestoholdingproportioninsubsidiarydifferentfromvotingproportion:
Basisofholdinghalforlessvotingrightsbutstillcontrollingtheinvesteeandholdingmorethanhalfofthevotingrightsbutnotcontrollingtheinvestee:
Significantstructuralentitiesandcontrollingbasisinthescopeofcombination:
BasisofdeterminingwhethertheCompanyistheagentortheprincipal:
Othernotes:
(2)SignificantNon-wholly-ownedSubsidiary
Unit:RMB
| Name | Shareholdingproportionofnon-controllinginterests | Theprofitorlossattributabletothenon-controllinginterests | Declaringdividendsdistributedtonon-controllinginterests | Balanceofnon-controllinginterestsattheperiod-end |
| ShenzhenRongyaoRealEstateDevelopmentCo.,Ltd. | 31.00% | -33,405,822.54 | 0.00 | 73,077,691.51 |
Holdingproportionofnon-controllinginterestsinsubsidiarydifferentfromvotingproportion:
Othernotes:
(3)TheMainFinancialInformationofSignificantNotWholly-ownedSubsidiary
Unit:RMB
| Name | Endingbalance | Beginningbalance | ||||||||||
| Currentassets | Non-currentassets | Totalassets | Currentliabilities | Non-currentliability | Totalliabilities | Currentassets | Non-currentassets | Totalassets | Currentliabilities | Non-currentliability | Totalliabilities | |
| ShenzhenRongyaoRealEstateDevelopmentCo.,Ltd. | 4,399,879,370.25 | 78,465,124.43 | 4,478,344,494.68 | 139,937,223.37 | 3,999,800,000.00 | 4,139,737,223.37 | 4,111,815,612.87 | 42,716,564.22 | 4,154,532,177.09 | 53,136,970.47 | 3,757,900,000.00 | 3,811,036,970.47 |
Unit:RMB
| Name | ReportingPeriod | Sameperiodoflastyear | ||||||
| Operating | Netprofit | Total | Cashflows | Operating | Netprofit | Total | Cashflows | |
| revenue | comprehensiveincome | fromoperatingactivities | revenue | comprehensiveincome | fromoperatingactivities | |||
| ShenzhenRongyaoRealEstateDevelopmentCo.,Ltd. | 0.00 | -107,760,717.87 | -107,760,717.87 | -386,770,711.35 | 0.00 | -91,139,605.71 | -91,139,605.71 | -576,763,060.18 |
Othernotes:
(4)SignificantRestrictionsonUsingtheAssetsandLiquidatingtheLiabilitiesoftheCompany
(5)FinancialSupportorOtherSupportsProvidedtoStructuralEntitiesIncorporatedintotheScopeofConsolidatedFinancialStatementsOthernotes:
2.TheTransactionoftheCompanywithItsOwner’sEquityShareChangedbutStillControllingtheSubsidiary
(1)NotetotheOwner’sEquityShareChangedinSubsidiary
Notapplicable.
(2)TheTransaction’sInfluenceontheEquityofNon-controllingInterestsandtheOwner'sEquityAttributabletotheCompanyastheParent
Unit:RMBOthernotes
3.EquityinJointVenturesorAssociatedEnterprises
(1)SignificantJointVenturesorAssociatedEnterprises
| Name | Mainoperatingplace | Registrationplace | Natureofbusiness | Holdingpercentage(%) | Accountingtreatmentoftheinvestmenttojointventureorassociatedenterprise | |
| Directly | Indirectly | |||||
| ShenzhenJifaWarehouseCo., | Shenzhen | Shenzhen | Warehouseservice | 50.00% | Equitymethod | |
| Ltd. | ||||||
| Tian’anInternationalBuildingPropertyManagementCompanyofShenzhen | Shenzhen | Shenzhen | Propertymanagement | 50.00% | Equitymethod |
Notestoholdingproportionofjointventureorassociatedenterprisedifferentfromvotingproportion:
Notapplicable.Basisofholdinglessthan20%ofthevotingrightsbuthasasignificantimpactorholding20%ormorevotingrightsbutdoesnothaveasignificantimpact:
(2)MainFinancialInformationofSignificantJointVentures
Unit:RMB
| Endingbalance/ReportingPeriod | Beginningbalance/Thesameperiodoflastyear | |||
| ShenzhenJifaWarehouseCo.,Ltd. | Tian’anInternationalBuildingPropertyManagementCompanyofShenzhen | ShenzhenJifaWarehouseCo.,Ltd. | Tian’anInternationalBuildingPropertyManagementCompanyofShenzhen | |
| Currentassets | 3,868,284.61 | 53,933,973.04 | 8,330,101.77 | 53,771,789.30 |
| Ofwhich:Cashandcashequivalents | 1,849,825.84 | 33,715,032.55 | 3,913,864.25 | 34,531,027.99 |
| Non-currentassets | 75,623,155.59 | 43,779.72 | 75,129,933.91 | 42,265.30 |
| Totalassets | 79,491,440.20 | 53,977,752.76 | 83,460,035.68 | 53,814,054.60 |
| Currentliabilities | 2,174,273.25 | 24,695,642.12 | 6,230,492.36 | 24,725,254.19 |
| Non-currentliability | 16,132,908.53 | 16,166,098.30 | ||
| Totalliabilities | 2,174,273.25 | 40,828,550.65 | 6,230,492.36 | 40,891,352.49 |
| EquityattributableToownersoftheCompanyastheparent | 77,317,166.95 | 13,149,202.11 | 77,229,543.32 | 12,922,702.11 |
| Portionofnetassetscalculatedaccordingtoproportionofshareholdings | 38,658,583.48 | 6,574,601.06 | 38,614,771.66 | 6,461,351.06 |
| Carryingvalueofequityinvestmenttojointventures | 38,658,583.48 | 6,574,601.06 | 38,614,771.66 | 6,461,351.06 |
| Operatingrevenue | 2,523,193.69 | 8,588,350.29 | 3,127,168.02 | 10,118,037.30 |
| Financeexpense | -2,946.63 | 24,599.52 | -12,030.91 | 3,608.49 |
| Incometaxexpense | 29,207.88 | 75,648.84 | 467,887.30 | 99,490.19 |
| Netprofit | 87,623.63 | 226,500.00 | 1,321,510.93 | 240,142.21 |
| Totalcomprehensiveincome | 87,623.63 | 226,500.00 | 1,321,510.93 | 240,142.21 |
Othernotes
(3)MainFinancialInformationofSignificantAssociatedEnterprise
Unit:RMB
| Endingbalance/ReportingPeriod | Beginningbalance/Thesameperiodoflastyear |
OthernotesNotapplicable.
(4)SummaryFinancialInformationofInsignificantJointVenturesorAssociatedEnterprises
Unit:RMB
| Endingbalance/ReportingPeriod | Beginningbalance/Thesameperiodoflastyear | |
| Jointventures: | -- | -- |
| Thetotaloffollowingitemsaccordingtotheshareholdingproportions | -- | -- |
| Associatedenterprises: | -- | -- |
| Thetotaloffollowingitemsaccordingtotheshareholdingproportions | -- | -- |
OthernotesNotapplicable.
(5)NotetotheSignificantRestrictionsontheAbilityofJointVenturesorAssociatedEnterprisestoTransferFundstotheCompanyNotapplicable.
(6)TheExcessLossofJointVenturesorAssociatedEnterprises
Unit:RMB
| Name | Thecumulativerecognizedlossesinprevious | Thederecognizedlosses(ortheshareofnetprofit)inReporting | TheaccumulativeunrecognizedlossesinReportingPeriod |
| accumulativelyderecognized | Period |
OthernotesNotapplicable.
(7)TheUnrecognizedCommitmentRelatedtoInvestmenttoJointVentures
Notapplicable.
(8)ContingentLiabilitiesRelatedtoInvestmenttoJointVenturesorAssociatedEnterprisesNotapplicable.
4.SignificantCommonOperation
| Name | Mainoperatingplace | Registrationplace | Natureofbusiness | Proportion/Shareportion | |
| Directly | Indirectly | ||||
Notestoholdingproportionorshareportionincommonoperationdifferentfromvotingproportion:
Forcommonoperationasasingleentity,basisofclassifyingascommonoperationOthernotesNotapplicable.
5.EquityintheStructuredEntityExcludedintheScopeofConsolidatedFinancialStatementsNotestothestructuredentityexcludedinthescopeofconsolidatedfinancialstatements:
Notapplicable.
6.Other
Notapplicable.
X.TheRiskRelatedtoFinancialInstrumentsTheCompanyisengagedinriskmanagementtoachievebalancebetweenrisksandreturns,minimizingthenegativeeffectsofrisksonitsoperationperformanceandmaximizingtheinterestsofitsshareholdersandotherequityinvestors.Basedonthatriskmanagementgoal,thefundamentalstrategyofitsriskmanagementistoidentifyandanalyzevariousrisksfacingtheCompany,establishanappropriateriskbottomline,carryoutriskmanagementandmonitorvariousrisksinatimelyandreliablemannertocontrolthemwithinarestrictedscope.TheCompanyfacesvariousrisksrelatedtofinancialinstrumentsinitsroutineactivities,mainlyincludingcreditrisk,liquidityriskmarketrisk.Themanagementhasreviewedandapprovedthepoliciesofmanagingthoserisks,whicharesummarizedasfollows.(I)CreditRiskCreditriskmeanstheriskoffinanciallossesincurredtotheotherpartywhenonepartyofafinancialinstrumentisunabletofulfillitsobligations.
1.CreditRiskManagementPractice
(1)CreditRiskEvaluationMethodOneachbalancesheetdate,theCompanyshallevaluatewhetherthecreditriskofrelevantfinancialinstrumentshasincreasedsignificantlysincetheinitialrecognition.Afterdeterminingwhetherthecreditriskhasincreasedsignificantlysincetheinitialrecognition,theCompanyshallconsiderobtainingreasonableandreliableinformationwithoutpayingunnecessaryextracostsorefforts,includingqualitativeandquantitativeanalysisbasedonhistoricaldata,externalcreditriskratingandforward-lookinginformation.Onthebaseofthesinglefinancialinstrumentorcombinationoffinancialinstrumentswithsimilarcreditriskcharacteristics,theCompanycomparestheriskofdefaultoffinancialinstrumentsonthebalancesheetdatewiththeriskofdefaultontheinitialrecognitiondatetodeterminethechangeofdefaultriskoffinancialinstrumentsduringtheirexpectedduration.Whenoneormoreofthefollowingquantitativeandqualitativecriteriaprevails,theCompanyshallbelievethecreditriskoffinancialinstrumentshasincreasedsignificantly:
1)Forthequantitativestandard,itcanbemainlyanalyzedfromtheprobabilityofdefaultfortheremainingdurationonthebalancesheetdaterisesbymorethanacertainproportioncomparedwiththeinitialconfirmation.
2)Forthequalitativestandard,itcanbemainlyanalyzedfromthemajoradversechangesinthedebtor'soperationorfinancialsituation,changesinexistingorexpectedtechnology,market,economyorlegalenvironmentwhichshallhavemajoradverseimpactsonthedebtor’srepaymentabilityoftheCompany,etc.
3)Theupperlimitisthatthedebtor’scontractpayment(includingprincipalandinterest)isoverdueformorethan90days.
(2)DefinitionofDefaultandCreditImpairment-AssetsWhenafinancialinstrumentmeetsoneormoreofthefollowingconditions,theCompanyshalldefinethefinancialassetashavingdefaulted,anditscriteriaareconsistentwiththedefinitionofhavingincurredcreditimpairment:
1)QuantitativeStandardThedebtorfailstomakethepaymentafterthecontractpaymentdateformorethan90days;
2)Qualitativecriteria①Thedebtorhasmajorfinancialdifficulties;②Thedebtorviolatesthebindingprovisionsonthedebtorinthecontract;③Thedebtorislikelytogobankruptorcarryoutotherfinancialrestructurings;④Thecreditorshallgivethedebtorconcessionsthatwillnotbemadeinanyothercircumstancesduetotheeconomicorcontractualconsiderationsrelatedtothedebtor'sfinancialdifficulties.
2.MeasurementofExpectedCreditLossKeyparametersoftheexpectedcreditlossmeasurementincludedefaultprobability,lossgivendefault,anddefaultriskexposure.TheCompanyconsidersthequantitativeanalysisandforward-lookinginformationofhistoricalstatisticaldata(suchascounterpartyrating,guaranteemethod,collateraltype,repaymentmethod,etc.)toestablishexposuremodelsofdefaultprobability,lossgivendefault,anddefaultrisk.
3.RefertoNoteV-I(2),V-I(4),V-I(8)fordetailsofthereconciliationstatementsofbeginningbalanceandendingbalanceoffinancialinstrumentlossprovision.
4.CreditRiskExposureandCreditRiskConcentrationTheCompany’screditriskmainlycomesfrombankdepositsandaccountsreceivable.Tocontroltheaforementionedrelevantrisks,theCompanyhasadoptedthefollowingmeasures.
(1)BankdepositsTheCompanyplacesitsbankdepositswithfinancialinstitutionsofhighcreditratings.Thus,itscreditriskislow.
(2)AccountsreceivableTheCompanyconductscreditassessmentonthecustomerstradinginthemodeofcreditonaregularbasis.Basedonthecreditassessmentresult,theCompanychoosestotradewithrecognizedcustomerswithgoodcreditandmonitorthebalanceoftheaccountsreceivablefromthemtoensurethattheCompanywillnotfaceanysignificantbaddebtrisk.DuetotheCompanymerelytradeswiththeauthorizedthirdpartywithgoodcredit,theguaranteeisnotrequired.Creditrisk
concentrationismanagedinaccordancewiththecustomers.Asof30June2020,therearecertaincreditconcentrationrisks,and
56.25%ofaccountsreceivableoftheCompany(63.81%on31December2019)comesfromtop5customersofbalance.TheCompanyhasn’theldanyguaranteeorothercreditenhancementforbalanceofaccountsreceivable.ThemaximumcreditriskexposuretheCompanyundertookshallbethecarryingvalueofeachfinancialassetinthebalancesheet.(II)LiquidityRiskLiquidityriskreferstotheriskoffundshortageoccurringwhentheCompanyfulfillsthesettlementobligationinthemodeofcashdeliveryorotherfinancialassets.Liquidityriskmayoriginatefromthefailuretosellfinancialassetsatfairvalueassoonaspossible;orfromtheotherparty’sfailuretopayoffitscontractualdebts;orfromtheearliermaturityofdebts;orfromthefailuretogeneratetheexpectedcashflow.Tocontroltherisk,theCompanycomprehensivelyadoptsbankloansasfinancingapproach,appropriatelycombinelong-termandshort-termfinancingmodesandoptimizethefinancingstructuretomaintainthebalancebetweenfinancingsustainabilityandflexibility.TheCompanyhasobtainedthelineofcreditfromanumberofcommercialbankstosatisfyitsoperationfundneedsandcapitalexpenditure.Financialliabilitiesclassifiedbyremainingmaturity
| Item | Endingbalance | ||||
| Carryingvalue | Undiscountedcontractamount | Within1year | 1to3years | Over3years | |
| Bankloans | 3,584,900,000.00 | 4,431,761,984.50 | 219,719,134.06 | 492,504,754.00 | 3,719,538,096.44 |
| Accountsreceivable | 577,689,139.10 | 577,689,139.10 | 577,689,139.10 | ||
| Otherreceivables | 807,985,786.65 | 807,985,786.65 | 807,985,786.65 | ||
| Currentportionforothernon-currentliabilities | 786,239,116.67 | 787,520,246.39 | 787,520,246.39 | ||
| Subtotal | 5,756,814,042.42 | 6,604,957,156.64 | 2,392,914,306.20 | 492,504,754.00 | 3,719,538,096.44 |
(Continued)
| Item | Beginningbalance | ||||
| Carryingvalue | Undiscountedcontractamount | Within1year | 1to3years | Over3years | |
| Bankloans | 2,193,833,000.00 | 2,809,760,244.87 | 122,965,009.77 | 254,890,988.43 | 2,431,904,246.67 |
| Accountspayable | 577,689,139.10 | 577,689,139.10 | 577,689,139.10 | ||
| Otherpayables | 1,136,902,252.81 | 1,136,902,252.81 | 1,136,902,252.81 | ||
| Currentportionforothernon-current | 3,921,032.24 | 3,926,732.24 | 3,926,732.24 | ||
| liabilities | |||||
| Subtotal | 3,912,345,424.15 | 4,528,278,369.02 | 1,841,483,133.92 | 254,890,988.43 | 2,431,904,246.67 |
(III)MarketRiskMarketriskmeansthefluctuationriskofthefairvalueoffinancialinstrumentsorthefuturecashflowduetomarketpricechanges.
1.InterestrateriskInterestrateriskmeansthefluctuationriskofthefairvalueoffinancialinstrumentsorthefuturecashflowduetochangesofmarketinterestrate.TheCompanyhasfacedtheinterestrateriskoffairvaluegeneratedfromthefinancialinstrumentwithinterestoffixedrate,andtheinterestrateriskofcashflowsgeneratedfromfinancialinstrumentwithinterestoffloatinginterestrate.TheCompanywilldeterminedtheproportionbetweenthefinancialinstrumentwithinterestoffixedrateandfloatinginterestrateaccordingtothemarketenvironment,aswellasreviewregularly,superviseandmaintainappropriateportfoliooffinancialinstrument.TheinterestrateriskofcashflowsfacingtheCompanyismainlyrelatedtothebankloanscalculatedbyfloatinginterestrateoftheCompany.Asof30June2020,undertheassumptionoffixedvariableswith50basispointschangedininterestrate,thebankloanwithRMB2,999,900,000.00(RMB2,193,933,000.00on31December2019)calculatedatfloatingratewillnotresultinsignificantinfluenceontotalprofitandshareholders’equityoftheCompany.
2.ForeignexchangeriskForeignexchangeratereferstotheriskthatmayleadtothechangesoffairvalueoffinancialinstrumentsorfuturecashflowsduetofluctuationinexchangerate.TheriskofchangesofexchangeratefacingtheCompanyismainlyrelatedtoforeigncurrencymonetaryassetsandliabilitiesoftheCompany.TheCompanyoperatesinmainlandChina,andthemainactivitiesarerecordedbyrenminbi.Thus,theforeignexchangemarketriskundertakenisinsignificantfortheCompany.RefertoNoteVII-82fortheinformationofforeigncurrencymonetaryassetsandliabilitiesattheperiod-endfordetails.
XI.TheDisclosureofFairValue
1.EndingFairValueofAssetsandLiabilitiesatFairValue
Unit:RMB
| Item | Endingfairvalue | |||
| Fairvaluemeasurementitemsatlevel1 | Fairvaluemeasurementitemsatlevel2 | Fairvaluemeasurementitemsatlevel3 | Total | |
| I.Consistentfairvaluemeasurement | -- | -- | -- | -- |
| (III)Otherequityinstrumentinvestment | 1,134,803.13 | 1,134,803.13 | ||
| Totalamountofassetsatfairvalue | 1,134,803.13 | 1,134,803.13 | ||
| II.Inconsistentfairvaluemeasurement | -- | -- | -- | -- |
2.MarketPriceRecognitionBasisforConsistentandInconsistentFairValueMeasurementItemsatLevel
OtherequityinstrumentheldbytheCompanybelongstostocksoflistedcompany,ofwhichtheclosingpriceofstockexchangeon30June2020shallberegardedasthefairvalue.
3.ValuationTechniqueAdoptedandNatureandAmountDeterminationofImportantParametersforConsistentandInconsistentFairValueMeasurementItemsatLevel2
4.ValuationTechniqueAdoptedandNatureandAmountDeterminationofImportantParametersforConsistentandInconsistentFairValueMeasurementItemsatLevel3
5.SensitivenessAnalysisonUnobservableParametersandAdjustmentInformationbetweenBeginningandEndingCarryingValueofConsistentFairValueMeasurementItemsatLevel3
6.ExplaintheReasonforConversionandtheGoverningPolicywhentheConversionHappensifConversionHappensamongConsistentFairValueMeasurementItemsatDifferentLevels
7.ChangesintheValuationTechniqueintheCurrentPeriodandtheReasonforSuchChanges
8.FairValueofFinancialAssetsandLiabilitiesNotMeasuredatFairValue
9.Other
XII.RelatedPartyandRelated-partyTransactions
1.InformationRelatedtotheCompanyastheParentoftheCompany
| Name | Registrationplace | Natureofbusiness | Registeredcapital | ProportionofshareheldbytheCompanyastheparentagainsttheCompany(%) | ProportionofvotingrightsownedbytheCompanyastheparentagainsttheCompany(%) |
| ShenzhenInvestmentHoldingsCo.,Ltd | Shenzhen | Managingstate-ownedassets | RMB25,349million | 57.96% | 57.96% |
Notes:InformationontheCompanyastheparentTheCompanyastheparentoftheCompanyisShenzhenInvestmentHoldingsCo.,Ltd.,anewly-establishedandorganizedstate-ownedcapitalinvestmentcompanybasedontheoriginalthreestate-ownedassetsmanagementcompaniesinOctober2004,amongwhichthemainfunctionistomanagethepartialmunicipalstate-ownedcompaniesaccordingtotheauthorizationofMunicipalSASAC.Asagovernmentdepartment,ShenzhenState-ownedAssetsSupervisionandAdministrationBureaumanagesShenzhenInvestmentHoldingsCo.,Ltd.onbehalfofPeople’sGovernmentofShenzhenMunicipality.ThefinalcontrolleroftheCompanyisShenzhenState-ownedAssetsSupervisionandAdministrationCommitteeofShenzhen
Government.Othernotes:
2.SubsidiariesoftheCompany
RefertoNoteIX-(I)EquityinSubsidiaryfordetails.
3.InformationontheJointVenturesandAssociatedEnterprisesoftheCompany
RefertoNoteIX-3fordetailsaboutsignificantjointventuresorassociatedenterprises.Informationonotherjointventureorassociatedenterpriseofoccurringrelated-partytransactionswiththeCompanyinReportingPeriod,orformingbalanceduetorelated-partytransactionsmadeinpreviousperiod:
| Name | RelationshipwiththeCompany |
OthernotesNotapplicable.
4.InformationonOtherRelatedParties
| Name | RelationshipwiththeCompany |
| ShenzhenInvestmentHoldingsCo.,Ltd. | Wholly-ownedsubsidiaryoftheCompanyastheparentoftheCompany |
| ShenzhenBayTechnologyDevelopmentCo.,Ltd. | Wholly-ownedsubsidiaryoftheCompanyastheparentoftheCompany |
| ShenzhenXinhaiHoldingCo.,Ltd. | TheCompanyastheparentofXinhaiRongyaoofsubsidiaryRongyaoRealEstatebynon-controllinginterests |
| ShenzhenXinhaiRongyaoRealEstateDevelopmentCo.,Ltd. | SubsidiaryRongyaoRealEstatebynon-controllinginterests |
| ShenzhenHi-techZoneDevelopmentConstructionCo.,Ltd | Wholly-ownedsubsidiaryofShenzhenBayTechnologyDevelopmentCo.,Ltd. |
| ShenzhenRealEstateJifaWarehousingCo.,Ltd. | JointventureoftheCompany |
| ShenzhenTian’anInternationalMansionPropertyAdministrationCo.,Ltd. | JointventureoftheCompany |
| ShenzhenWufangCeramicsIndustrialCo.,Ltd. | AssociatedenterpriseoftheCompany |
| ShenzhenBayAreaUrbanConstructionandDevelopmentCo.,Ltd. | Wholly-ownedsubsidiaryoftheCompanyastheparentoftheCompany |
Othernotes
5.ListofConnectedTransactions
(1)InformationonAcquisitionofGoodsandReceptionofLaborServiceInformationonacquisitionofgoodsandreceptionoflaborservice
Unit:RMB
| Relatedparty | Content | ReportingPeriod | Theapprovaltradecredit | Whetherexceedtradecreditornot | Sameperiodoflastyear |
| ShenzhenBayTechnologyDevelopmentCo.,Ltd. | Managementservice | 33,458,508.93 | 27,169,639.46 |
Informationofsalesofgoodsandprovisionoflaborservice
Unit:RMB
| Relatedparty | Content | ReportingPeriod | Sameperiodoflastyear |
| ShenzhenBayTechnologyDevelopmentCo.,Ltd. | Propertymanagement | 18,958,078.79 | 5,394,746.24 |
| ShenzhenBayAreaUrbanConstructionandDevelopmentCo.,Ltd. | Propertymanagement | 713,736.06 | 0.00 |
| ShenzhenHi-techZoneDevelopmentConstructionCo.,Ltd | Propertymanagement | 669,509.81 | 683,947.62 |
Notesonacquisitionofgoodsandreceptionoflaborservice
(2)InformationonRelated-partyTrusteeship/Contract
Listsoftrusteeship/contract:
Unit:RMB
| Nameoftheentruster/contractee | Nameoftheentrustee/contractor | Type | Startdate | Duedate | Pricingbasis | IncomerecognizedinthisReportingPeriod |
| ShenzhenShentouPropertyDevelopmentCo.,Ltd. | ShenzhenToukongPropertyManagementCo.,Ltd. | Investmentproperty | 6November2019 | 5November2025 | Marketpricing | 19,566,423.45 |
Notes:
Listsofentrust/contractee
Unit:RMB
| Nameoftheentruster/contractee | Nameoftheentrustee/contractor | Type | Startdate | Duedate | Pricingbasis | ChargerecognizedinthisReportingPeriod |
Notes:
(3)InformationonRelated-partyLeaseTheCompanywaslessor:
Unit:RMB
| Nameoflessee | Categoryofleasedassets | TheleaseincomeconfirmedintheReportingPeriod | TheleaseincomeconfirmedintheSameperiodoflastyear |
TheCompanywaslessee:
Unit:RMB
| Nameoflessor | Categoryofleasedassets | TheleasefeeconfirmedintheReportingPeriod | TheleasefeeconfirmedintheSameperiodoflastyear |
| ShenzhenShentouPropertyDevelopmentCo.,Ltd. | Investmentproperty | 190,340.58 | 133,177.08 |
Notes:
(4)InformationonRelated-partyGuarantee
TheCompanywasguarantor:
Unit:RMB
| Securedparty | Guaranteeamount | Startdate | Enddate | Executionaccomplishedornot |
TheCompanywassecuredparty
Unit:RMB
| Guarantor: | Guaranteeamount | Startdate | Enddate | Executionaccomplishedornot |
Notes:
Notapplicable.
(5)InformationonInter-bankLendingofCapitalofRelatedParties
Unit:RMB
| Relatedparty | Amount | Startdate | Enddate | Note |
| Borrowing | ||||
| Lending | ||||
(6)InformationonAssetsTransferandDebtRestructuringbyRelatedParty
Unit:RMB
| Relatedparty | Content | Reportingperiod | Sameperiodoflastyear |
(7)InformationonRemunerationforKeyManagementPersonnel
Unit:RMB
| Item | Reportingperiod | Sameperiodoflastyear |
| Remunerationforkeymanagementpersonnel | 6,604,773.44 | 4,115,229.51 |
(8)OtherRelated-partyTransactions
ProjectsInvestmentStatusofCoreStaffToadvocatethecorestaffofthegrouptosharetheoperatingresultsofmarket-orientedprojectswiththeCompany,sharetheoperatingrisks,stimulatetheirendogenouspowertoimproveefficiencyandincreasebenefits,furtherimprovetheprojectturnoverrate,reducetherisksoflandacquisition,developmentandoperation,improvetheassetmanagementefficiencyandtorealizethemaintenanceandappreciationofstate-ownedassets,throughthestandardizedandscientificdesignofinvestmentfollow-upmechanismandtheestablishmentofthegroup'slong-termincentiveandrestraintmechanism,theCompanyhasformulatedtheStaffFollow-upInvestmentManagementMeasures.Accordingtotheabovemanagementmeasures,follow-upinvestmentmatterswillformrelatedtransactionsofthejointinvestmentwithsomecorestaffoftheCompany.Asof31December2019,thecorestaffoftheCompanyhascontributedatotalofoneitemwithinthescopeoftheconsolidatedstatementoffollow-upinvestmentthroughcash.Theactualinvestmentoffollow-upinvestmentisRMB40millionwithnoaccumulatedback-upfund.Thereisnochangeinfollow-upinvestmentandaccumulatedback-upfundin2020.Thefollow-upinvestmentoftheitemisasfollows:
| Item | Totalamount | Accumulativereturn |
| Banglingurbanrenewalproject(Note) | 40,000,000.00 |
6.AccountsReceivableandPayableofRelatedParty
(1)AccountsReceivable
Unit:RMB
| Item | Relatedparty | Endingbalance | Beginningbalance | ||
| Carryingamount | Baddebtprovision | Carryingamount | Baddebtprovision | ||
| Accountsreceivable | ShenzhenBayTechnologyDevelopmentCo.,Ltd. | 112,143,815.18 | 3,364,314.46 | 93,790,305.70 | 4,689,515.29 |
| ShenzhenHi-techZoneDevelopmentConstructionCo.,Ltd. | 954,769.70 | 28,643.09 | 1,045,589.81 | 31,367.69 | |
| ShenzhenBayAreaUrbanConstructionandDevelopment | 713,736.06 | 21,412.08 | |||
| Co.,Ltd. | |||||
| Otherreceivables | ShenzhenXinhaiHoldingCo.,Ltd. | 401,499,990.18 | 551,499,990.18 | ||
| ShenzhenXinhaiRongyaoRealEstateDevelopmentCo.,Ltd. | 330,472,932.33 | 330,472,932.33 | |||
| ShenzhenHi-techZoneDevelopmentConstructionCo.,Ltd. | 138,689.46 | 69,344.73 | 138,689.46 | 69,344.73 | |
| ShenzhenWufangCeramicsIndustrialCo.,Ltd. | 1,747,264.25 | 1,747,264.25 | 1,747,264.25 | 1,747,264.25 |
(2)AccountsPayable
Unit:RMB
| Item | Relatedparty | Endingcarryingamount | Beginningcarryingamount |
| Otherpayables | ShenzhenRealEstateJifaWarehousingCo.,Ltd. | 35,796,665.14 | 35,796,665.14 |
| ShenzhenTian’anInternationalMansionPropertyAdministrationCo.,Ltd. | 5,214,345.90 | 5,214,345.90 | |
| ShenzhenBayTechnologyDevelopmentCo.,Ltd. | 33,458,508.93 | ||
| ShenzhenBayAreaUrbanConstructionandDevelopmentCo.,Ltd. | 358,252.18 | ||
| ShenzhenShentouPropertyDevelopmentCo.,Ltd. | 6,888,594.77 |
7.CommitmentsofRelatedParty
8.Other
XIII.StockPayment
1.TheOverallSituationofStockPayment
□Applicable√Notapplicable
2.TheStockPaymentSettledinEquity
□Applicable√Notapplicable
3.TheStockPaymentSettledinCash
□Applicable√Notapplicable
4.ModificationandTerminationoftheStockPayment
5.OtherXIV.CommitmentsandContingency
1.SignificantCommitments
SignificantContingencyonBalanceSheetDateLargeamountcontractsignedunderperformanceorperformancepreparation
| Item | Reportingperiod | Sameperiodoflastyear |
| Signedbutderecognizedinfinancialstatements | ||
| —Largeamountcontract | 147,758,430.24 | 498,279,835.00 |
2.Contingency
(1)SignificantContingencyonBalanceSheetDate
1)Contingentliabilitiesformedbypendingactionandfinancialinfluence
①TheactionabouttransferringJiabinBuildingcontentiousmatterIn1993,theCompanysignedRightofDevelopmentTransferContractofJiabinBuildingwithShenzhenJiyongPropertyDevelopmentCo.,Ltd.(hereinafterreferredtoas“JiyongCompany”).Sincethecontractwasnoteffectivelyexecuted,theCompanysubsequentlyfiledaseriesoflawsuitsagainstthepartiesinvolvedintheproject,buttheoutcomewasnotfavorabletotheCompany.Therefore,theCompanycalculatedandwithdrewbad-debtprovisionsforaccountsreceivablefromJiyongCompanyinfullinpastyearsforthetransferofJiabinBuilding.On31October2018,ShenzhenIntermediatePeople’sCourtmadeacivilawardandruledthattheCompany’sapplicationforthebankruptcyofJiyongCompanywouldnotbeaccepted.TheCompanyrefusedtoacceptsuchrulingandhasappealedtoShenzhenIntermediatePeople’sCourt.On29April2020,GuangdongHigherPeople'sCourtjudgedtorejecttheappealoftheCompanyandmaintainedtheoriginaljudgment.Asoftheissuancedateofthereport,thereisnonewprogressinthecase.
②LawsuititemsregardingdisputesoverenvironmentalpollutionliabilityofFuchangBuildingPhaseIIOn24May2019,theFutianDistrictIndemnificatoryTalentHousingProject“Fuhuihuayuan,FuchangBuildingPhaseII”developedbytheCompanyofficiallystarted.TheplaintiffsFengShuipingandother180peoplefiledacivillawsuitagainsttheCompanyandtheSecondConstructionEngineeringCo.,Ltd.ofChinaConstructionThirdEngineeringBureauCo.,Ltd.(hereinafterreferredtoas“TheThirdConstructionBureau”).TheplaintiffsaskedforstoppingnuisanceandclaimedtheamountofpersonalinjurycompensationatthestandardofRMB300perdayduringtheconstructionperiodandthetotalamountofthesubjectmatterinvolved
intheseriesofcaseswasRMB8.154million.FutianDistrictPeople’sCourthasopenedthetrial,buthasn’tgiventhejudgment.Asoftheissuancedateofthereport,thereisnonewprogressinthecase.Duetonojudgmentgivenfromthecourt,theCompanyhasn’taccruedtheestimatedliabilityforthecase.③LawsuititemsregardingLvxinyuanCompanycontractdisputeOn23October2018,ShenzhenHuazhengpengPropertyManagementDevelopmentCo.,Ltd.(hereinafterreferredtoas“Huazhengpeng”),asubsidiaryoftheCompany,wassuedbytheplaintiffShenzhenLvxinyuanAgriculturalProductsCo.,Ltd.(hereinafterreferredtoasLvxinyuan)foradisputeoverthesalescontract.On11March2019,thecourtruledthatHuazhengpenghadtopayLvxinyuangoodpaymentsandtheinterestaltogetherRMB593,579.23.on23June2019,thebankaccountbalanceunderHuazhengpeng'snamewasdeductedRMB111,545.36duringtheenforcementprocessbyFutianDistrictPeople’sCourt,andtheaccountofHuazhengpengCompanywasfrozen,atthispoint,therearenoexecutableassetsunderHuazhengpeng'sname.HuazhengpengaccruedtheestimatedliabilityofRMB482,033.87accordingtothecompensationamounttobepaid.④LawsuititemsregardingCaiXuesen'scontractdisputeOn10August2005,ShenzhenTaixinliPropertyManagementCo.,Ltd.(hereinafterreferredtoas“Taixinli”),asubsidiaryoftheCompany,leasedtwolandslocatedbesideoriginalSonggangtollstationofnationalhighway107toCaiXuesen(naturalperson)fortheconstructionofafactorybuilding.Duetothelandcanonlybeusedforeducation,CaiXuesenwasunabletoobtainaworkpermit.Therefore,on30June2008,CaiXuesenfiledalawsuittothecourtonthegroundthatTaixinlideliberatelyconcealedthefactthattheyhadnolanduseright,andmadehimimpossibletostartconstructionattheagreedtime.On13January2019,ShenzhenIntermediatePeople’sCourtmadeafinaljudgmentonthecase,demandingTaixinlitorepayCaiXuesen’slossesaltogetherRMB749,398.00.CaiXuesenappliedforaretrial,andGuangdongHigherPeople'sCourtjudgedtorejecttheretrialapplicationon17September2019.TheCompanthasaccruedtheestimatedliabilityinfullfortheaboveamount.⑤LawsuititemsregardingLubanhang’scontractdisputesOn23July2014,ShenzhenTaixinliPropertyManagementCo.,Ltd.(hereinafterreferredtoas“Taixinli”),asubsidiaryoftheCompany,signedSupervisionServiceContractwithGuangdongLubanhangTechnologyCo.,Ltd.(hereinafterreferredtoas“Lubanhang”)regardingYupinLuanshanproject.Theprojectwassuspendedin2016forsomereason,soLubanhangfiledalawsuitwithShenzhenBao’anDistrictPeople'sCourton31March2019,requiredtodissolvetheSupervisionServiceContractandpaysupervisionservicefeesandinterest,etcaltogetherRMB7,063,237.32,andproposedtothecourtforpropertypreservation.On5November2019,thecourtruledinthefirstinstancethattheservicecontrictsignedshallbeterminatedon21May2019,andTaixinlishouldpaytheresidualsupervisionservicefeesofRMB2.3379millionanditsinteresttoLubanhang.Taixinlihasinstitutedtheappeal,andthesecondtrialhasopenedbutnojudgment.Taixinlihaspaidpartofthesupervisionservicefeesandcorrespondinginterestaccordingtothefaultliability.TheCompanyhasaccruedtheestimatedliabilityofRMB1,671,896.00accordingtothejudgmentresultofthecourt.
2)Contingentliabilitiesformedbydebtguaranteeprovidedforotherunitsandfinancialinfluence①Asarealestatedeveloper,theCompanyhasprovidedmortgageguaranteesforcommercialhousingpurchasersandpaidloanguaranteesaccordingtorealestatebusinesspractices.Asof30June2020,thebalanceofthecashdepositthathavenotbeenreleasedisRMB1,120,910.60.Thatguaranteewillbereleasedonthedatewhenthemortgagemoneyispaidoff.②TheCompanyanditssubsidiariesprovidemortgageguaranteesforcommercialhousingpurchasersaccordingtotherealestatebusinesspractice.Thepurchaserusesthepurchasedcommercialhousingascollateral.Theguaranteeamountthathasnotbeensettledasof30June2020isRMB291,699.484.08andsincesofar,purchasershavenotdefaulted,andthecurrentmarketpriceofthesepropertiesishigherthanthesellingprice,theCompanybelievesthattherisksassociatedwithprovidingsuchguaranteesarerelativelylow.
(2)InDespiteofnoSignificantContingencytoDisclose,theCompanyShallAlsoMakeRelevantStatementsTherewasnosignificantcontingencyintheCompany.
3.Other
XV.EventsafterBalanceSheetDate
1.SignificantNon-adjustedEvents
Unit:RMB
| Item | Content | Influencenumbertothefinancialpositionandoperatingresults | Reasonofinabilitytoestimateinfluencenumber |
2.ProfitDistribution
Unit:RMB
3.SalesReturnNotapplicable.
4.NotestoOtherEventsafterBalanceSheetDateNotapplicable.
XVI.OtherSignificantEvents
1.TheAccountingErrorsCorrectioninPreviousPeriod
(1)RetrospectiveRestatement
Unit:RMB
| Content | Processingprogram | Nameoftheinfluencedreportitemsduringcomparisonperiod | Accumulativeimpact |
(2)ProspectiveApplication
| Content | Processingprogram | Reasonforadoptingprospectiveapplication |
2.DebtRestructuringNotapplicable.
3.AssetsReplacement
(1)Non-monetaryAssetsExchange
Notapplicable.
(2)OtherAssetsReplacement
Notapplicable.
4.PensionPlansNotapplicable.
5.DiscontinuedOperations
Unit:RMB
| Item | Income | Expense | Totalprofit | Incometaxexpense | Netprofit | ProfitfromdiscontinuedoperationsattributabletoownersoftheCompanyastheparent |
OthernotesNotapplicable.
6.SegmentInformation
(1)DeterminationBasisandAccountingPoliciesofReportableSegmentInaccordancewiththeinternalorganizationstructure,managementrequirementsandinternalreportsystem,theCompanyidentifiedthereportablesegmentsbasedontheproductsegmentandassessedtheoperationalperformanceofivorybusiness,printingbusinessandlatexbusiness.Theassetsandliabilitiessharingwithothersegmentsshallbeproportionallydistributedamongsegmentsbyscales.
(2)TheFinancialInformationofReportableSegment
Unit:RMB
| Item | Realestate | Houserental | Propertymanagement | Others | Offsetamongsegment | Total |
| Mainoperationrevenue | 858,698,806.07 | 503,900,511.94 | 74,034,931.14 | 2,350,593.28 | -17,907,074.60 | 1,421,077,767.83 |
| Mainoperationcost | 147,212,422.45 | 430,811,529.01 | 45,663,839.65 | 1,791,479.94 | -13,784,327.25 | 611,694,943.80 |
| Totalassets | 14,202,954,456.27 | 1,103,321,905.06 | 503,444,362.38 | 3,457,781.30 | -4,864,331,432.43 | 10,948,847,072.58 |
| Totalliabilities | 11,743,875,757.04 | 659,755,316.00 | 202,923,139.56 | 5,456,470.96 | -4,894,458,753.05 | 7,717,551,930.51 |
(3)IfthereWasnoReportableSegment,ortheTotalAmountofAssetsandLiabilitiesofEachReportableSegmentCouldnotBeReported,RelevantReasonsShallBeClearlyStated
(4)OtherNotes
7.OtherSignificantTransactionsandEventswithInfluenceonInvestors’Decision-makingNotapplicable.
8.Other
Notapplicable.XVII.NotesofMainItemsintheFinancialStatementsoftheCompanyastheParent
1.NotesReceivableandAccountsReceivable
(1)AccountsReceivableDisclosedbyCategory
Unit:RMB
| Category | Endingbalance | Beginningbalance | ||||||||
| Carryingamount | Baddebtprovision | Carryingvalue | Carryingamount | Baddebtprovision | Carryingvalue | |||||
| Amount | Proportion | Amount | Withdrawalproportion | Amount | Proportion | Amount | Withdrawalproportion | |||
| Accountsreceivableforwhichbaddebtprovisionseparatelyaccrued | 96,702,269.40 | 93.20% | 96,702,269.40 | 100.00% | 0.00 | 96,702,269.40 | 99.16% | 96,702,269.40 | 100.00% | 0.00 |
| Ofwhich: | ||||||||||
| Accountsreceivablewithdrawalofbaddebtprovisionbygroup | 7,051,089.35 | 6.80% | 234,254.18 | 3.32% | 6,816,835.17 | 820,241.30 | 0.84% | 64,309.16 | 7.84% | 755,932.14 |
| Ofwhich: | ||||||||||
| Total | 103,753,358.75 | 100.00% | 96,936,523.58 | 93.43% | 6,816,835.17 | 97,522,510.70 | 100.00% | 96,766,578.56 | 99.22% | 755,932.14 |
Accountsreceivableforwhichbaddebtprovisionseparatelyaccrued:RMB96,702,269.40
Unit:RMB
| Name | Endingbalance | |||
| Carryingamount | Baddebtprovision | Withdrawalproportion | Reasonforwithdrawal | |
| ShenzhenJiyongProperties&ResourcesDevelopmentCompany | 93,811,328.05 | 93,811,328.05 | 100.00% | Involvedinlawsuitandwithnoexecutableproperty |
| ShenzhenTeweiIndustryCo.,Ltd.(ChenhuiBuilding) | 2,836,561.00 | 2,836,561.00 | 100.00% | Longagingandexpectedtobeirrecoverable |
| LuohuDistrictEconomicDevelopmentCompany | 54,380.35 | 54,380.35 | 100.00% | Longagingandexpectedtobeunrecoverable |
| Total | 96,702,269.40 | 96,702,269.40 | -- | -- |
Accountsreceivableforwhichbaddebtprovisionseparatelyaccrued:
Unit:RMB
| Name | Endingbalance | |||
| Carryingamount | Baddebtprovision | Withdrawalproportion | Reasonforwithdrawal | |
Accountsreceivablewithdrawalofbaddebtprovisionbygroup:RMB234,254.18
Unit:RMB
| Name | Endingbalance | ||
| Carryingamount | Baddebtprovision | Withdrawalproportion | |
| Creditriskfeaturesgroup | 7,051,089.35 | 234,254.18 | 3.32% |
| Total | 7,051,089.35 | 234,254.18 | -- |
Notestothedeterminationbasisforthegroup:
Accountsreceivablewithdrawalofbaddebtprovisionbygroup:
Unit:RMB
| Name | Endingbalance | ||
| Carryingamount | Baddebtprovision | Withdrawalproportion | |
| Within1year | 6,726,496.58 | 201,794.90 | 3.00% |
| 1to2years | 324,592.77 | 32,459.28 | 10.00% |
| Total | 7,051,089.35 | 234,254.18 | -- |
Notestothedeterminationbasisforthegroup:
Accountsreceivablewithdrawalofbaddebtprovisionbygroup:
Unit:RMB
| Name | Endingbalance | ||
| Carryingamount | Baddebtprovision | Withdrawalproportion | |
Notestothedeterminationbasisforthegroup:
Pleaserefertotherelevantinformationofdisclosureofbaddebtprovisionofotheraccountsreceivableifadoptingthegeneralmodeofexpectedcreditlosstowithdrawbaddebtprovisionofnotesreceivable.
□Applicable√NotapplicableDisclosedbyaging
Unit:RMB
| Aging | Endingbalance |
| Within1year(including1year) | 6,726,496.58 |
| 1to2years | 324,592.77 |
| 2to3years | 0.00 |
| Over3years | 96,702,269.40 |
| 3to4years | 0.00 |
| 4to5years | 0.00 |
| Over5years | 96,702,269.40 |
| Total | 103,753,358.75 |
(2)BadDebtProvisionWithdrawal,ReversedorRecoveredintheReportingPeriod
BadDebtProvisionWithdrawalintheReportingPeriod:
Unit:RMB
| Category | Beginningbalance | ChangesintheReportingPeriod | Endingbalance | |||
| Withdrawal | Reversalorrecovery | Write-off | Other | |||
| Accountsreceivableforwhichbaddebtprovisionseparatelyaccrued | 96,702,269.40 | 0.00 | 0.00 | 0.00 | 0.00 | 96,702,269.40 |
| Accountsreceivable | 64,309.16 | 169,945.02 | 0.00 | 0.00 | 0.00 | 234,254.18 |
| withdrawalofbaddebtprovisionbygroup | ||||||
| Total | 96,766,578.56 | 169,945.02 | 0.00 | 0.00 | 0.00 | 96,936,523.58 |
Ofwhichbaddebtprovisionreversedorrecoveredwithsignificantamount:
Unit:RMB
| Nameofentity | Amountreversedorrecovered | Wayofrecovery |
(3)AccountsReceivablewithActualVerificationduringtheReportingPeriod
Unit:RMB
| Item | Amountverified |
Ofwhichtheverificationofsignificantotheraccountsreceivable:
Unit:RMB
| Nameofentity | Nature | Amountverified | Reasonforverification | Verificationproceduresperformed | Whethergeneratedfromconnectedtransactions |
Notestoverificationofaccountsreceivable:
Notapplicable.
(4)Top5oftheEndingBalanceoftheAccountsReceivableCollectedaccordingtoArrearsParty
Unit:RMB
| Nameofentity | Endingbalanceofaccountsreceivable | Proportiontothetotalendingbalanceofaccountsreceivable(%) | Endingbalanceofbaddebtprovision |
| ShenzhenJiyongProperties&ResourcesDevelopmentCompany | 93,811,328.05 | 90.42% | 93,811,328.05 |
| ShenzhenTeweiIndustryCo.,Ltd.(ChenhuiBuilding) | 2,836,561.00 | 2.73% | 2,836,561.00 |
| ShenzhenRainbowDepartmentStoreCo.,Ltd. | 2,561,709.85 | 2.47% | 99,572.79 |
| AgencyPropertyManagementOfficeofLuohu | 1,167,132.00 | 1.12% | 35,013.96 |
| ChinaPacificInsurance(Group)Co.,Ltd. | 592,021.00 | 0.57% | 17,760.63 |
| Total | 100,968,751.90 | 97.31% |
(5)AccountsReceivableDerecognizedduetotheTransferofFinancialAssetsNotapplicable.
(6)TheAmountofAssetsandLiabilitiesGeneratedfromtheTransferandtheContinuedInvolvementofAccountsReceivableNotapplicable.Othernotes:
Notapplicable.
2.OtherAccountsReceivable
Unit:RMB
| Item | Endingbalance | Beginningbalance |
| Otheraccountsreceivable | 307,850,283.10 | 501,082,153.81 |
| Total | 307,850,283.10 | 501,082,153.81 |
(1)InterestReceivable
1)CategoryofInterestReceivable
Unit:RMB
| Item | Endingbalance | Beginningbalance |
2)SignificantOverdueInterest
| Entity | Endingbalance | Overduetime | Overduereason | Whetheroccurredimpairmentanditsjudgmentbasis |
Othernotes:
3)InformationofWithdrawalofBadDebtProvision
□Applicable√Notapplicable
(2)DividendReceivable
1)CategoryofDividendReceivable
Unit:RMB
| Item(orinvestees) | Endingbalance | Beginningbalance |
2)SignificantDividendsReceivableAgingover1Year
Unit:RMB
| Item(orinvestees) | Endingbalance | Aging | Reason | Whetheroccurredimpairmentanditsjudgmentbasis |
3)InformationofWithdrawalofBadDebtProvision
□Applicable√NotapplicableOthernotes:
(3)OtherReceivables
1)OtherReceivablesDisclosedbyAccountNature
Unit:RMB
| Nature | Endingcarryingamount | Beginningcarryingamount |
| Deposit | 2,209,111.80 | 2,139,511.80 |
| Paymentonbehalf | 16,557.82 | |
| Externalintercoursefunds | 23,164,684.06 | 23,164,046.99 |
| Intercoursefundstosubsidiary | 314,881,167.01 | 508,280,508.64 |
| Total | 340,254,962.87 | 533,600,625.25 |
2)InformationofWithdrawalofBadDebtProvision
Unit:RMB
| Baddebtprovision | Firststage | Secondstage | Thirdstage | Total |
| Expectedcreditlossofthenext12months | Expectedlossintheduration(creditimpairmentnotoccurred) | Expectedlossintheduration(creditimpairmentoccurred) | ||
| Balanceof1January2020 | 16,036,529.31 | 16,481,942.13 | 32,518,471.44 | |
| Balanceof1January2020intheCurrentPeriod | —— | —— | —— | —— |
| WithdrawaloftheCurrentPeriod | 29,442.69 | 29,442.69 | ||
| ReversaloftheCurrentPeriod | 143,234.36 |
| Balanceof30June2020 | 15,922,737.64 | 16,481,942.13 | 32,404,679.77 |
ChangesofcarryingamountwithsignificantamountchangedoflossprovisionintheReportingPeriod
□Applicable√NotapplicableDisclosurebyaging
Unit:RMB
| Aging | Endingbalance |
| Within1years(including1year) | 950,168.04 |
| 1to2years | 36,905,250.20 |
| 2to3years | 1,883,905.23 |
| Over3years | 300,515,639.40 |
| 3to4years | 46,488,872.67 |
| 4to5years | 52,823,059.02 |
| Over5years | 201,203,707.71 |
| Total | 340,254,962.87 |
3)BadDebtProvisionWithdrawn,ReversedorRecoveredintheReportingPeriod
Informationofbaddebtprovisionwithdrawn:
Unit:RMB
| Category | Beginningbalance | ChangesintheReportingPeriod | Endingbalance | |||
| Withdrawal | Reversalorrecovery | Write-off | Other | |||
| Baddebtprovisionwithdrawnseparately | 23,748,219.30 | 143,234.36 | 23,604,984.94 | |||
| Baddebtprovisionwithdrawnbygroup | 8,770,252.14 | 29,442.69 | 8,799,694.83 | |||
| Total | 32,518,471.44 | 29,442.69 | 143,234.36 | 32,404,679.77 | ||
OfwhichthebaddebtprovisionreversedorrecoveredwithsignificantamountduringtheReportingPeriod:
Unit:RMB
| Nameofentity | Amountreversedorrecovered | Wayofrecovery |
4)ParticularsoftheActualVerificationofOtherReceivablesduringtheReportingPeriod
Unit:RMB
| Item | Amount |
Ofwhichtheverificationofsignificantotherreceivables:
Unit:RMB
| Nameoftheentity | Nature | Amount | Reason | Procedure | Whetheroccurredbecauseofrelated-partytransactions |
Notestotheverificationofotherreceivables:
5)Top5oftheEndingBalanceofOtherReceivablesCollectedaccordingtotheArrearsParty
Unit:RMB
| Nameoftheentity | Nature | Endingbalance | Aging | Proportiontoendingbalanceoftotalotherreceivables% | Endingbalanceofbaddebtprovision |
| ShumYipPropertiesDevelopmentLimited | Intercoursefundstosubsidiary | 112,060,954.38 | Over5years | 32.93% | 7,123,042.81 |
| SZPRDXuzhouDapengRealEstateDevelopmentCo.,Ltd. | Intercoursefundstosubsidiary | 69,746,069.13 | 1to3years | 20.50% | |
| ShenzhenHuangchengPropertyManagementCo.,Ltd. | Intercoursefundstosubsidiary | 63,125,906.77 | 2to3years | 18.55% | |
| SZPRDYangzhouRealEstateDevelopmentCo.,Ltd. | Intercoursefundstosubsidiary | 28,954,840.54 | 3to4years | 8.51% | |
| ShanghaiYutongRealEstateCo.,Ltd. | Externalintercoursefunds | 5,676,000.00 | Over5years | 1.67% | 5,676,000.00 |
| Total | -- | 279,563,770.82 | -- | 82.16% | 12,799,042.81 |
6)AccountsReceivableInvolvingGovernmentGrants
Unit:RMB
| Nameoftheentity | Projectofgovernmentgrants | Endingbalance | Endingaging | Estimatedrecoveringtime,amountandbasis |
Notapplicable.
7)DerecognitionofOtherReceivablesduetotheTransferofFinancialAssetsNotapplicable.
8)TheAmountoftheAssetsandLiabilitiesFormedduetotheTransferandtheContinuedInvolvementofOtherReceivables
Notapplicable.Othernotes:
Notapplicable.
3.Long-termEquityInvestment
Unit:RMB
| Item | Endingbalance | Beginningbalance | ||||
| Carryingamount | Depreciationreserves | Carryingvalue | Carryingamount | Depreciationreserves | Carryingvalue | |
| Investmenttosubsidiaries | 1,095,429,880.39 | 69,964,000.00 | 1,025,465,880.39 | 1,095,429,880.39 | 69,964,000.00 | 1,025,465,880.39 |
| Investmenttojointventuresandassociatedenterprises | 64,216,798.65 | 18,983,614.14 | 45,233,184.51 | 64,059,736.86 | 18,983,614.14 | 45,076,122.72 |
| Total | 1,159,646,679.04 | 88,947,614.14 | 1,070,699,064.90 | 1,159,489,617.25 | 88,947,614.14 | 1,070,542,003.11 |
(1)InvestmenttoSubsidiaries
Unit:RMB
| Investee | Beginningbalance(carryingvalue) | Increase/decrease | Endingbalance(carryingvalue) | Endingbalanceofdepreciationreserve | |||
| Additionalinvestment | Reducedinvestment | Depreciationreservewithdrawn | Other | ||||
| ShenzhenHuangchengRealEstateCo.,Ltd. | 35,552,671.93 | 35,552,671.93 | |||||
| SZPRDRealEstateDevelopmentCo.,Ltd. | 30,950,000.00 | 30,950,000.00 | |||||
| SZPRD | 50,000,000.00 | 50,000,000.00 | |||||
| YangzhouRealEstateDevelopmentCo.,Ltd. | ||||
| DongguanITCChangshengRealEstateDevelopmentCo.,Ltd. | 20,000,000.00 | 20,000,000.00 | ||
| ShenzhenInternationalTradeCenterPropertyManagementCo.,Ltd. | 20,000,000.00 | 20,000,000.00 | ||
| ShenzhenInternationalTradeCenterCateringCo.,Ltd. | 1.00 | 1.00 | 1,600,000.00 | |
| ShenzhenPropertyConstructionSupervisionCo.,Ltd. | 3,000,000.00 | 3,000,000.00 | ||
| SZPRDHousingAssetsOperationandManagementCo.,Ltd. | 40,000,000.00 | 40,000,000.00 | ||
| ZhanjiangShenzhenRealEstateDevelopmentCo.,Ltd. | 0.00 | 0.00 | 2,530,000.00 | |
| ShumYipPropertiesDevelopmentCo.,Ltd. | 0.00 | 0.00 | 15,834,000.00 | |
| SZPRDXuzhouDapengRealEstate | 0.00 | 0.00 | 50,000,000.00 |
| DevelopmentCo.,Ltd. | ||||
| ShenzhenRongyaoRealEstateDevelopmentCo.,Ltd. | 508,000,000.00 | 508,000,000.00 | ||
| ShenzhenToukongPropertyManagementCo.,Ltd. | 317,963,207.46 | 317,963,207.46 | ||
| Total | 1,025,465,880.39 | 1,025,465,880.39 | 69,964,000.00 |
(2)InvestmenttoJointVenturesandAssociatedEnterprises
Unit:RMB
| Investee | Beginningbalance(carryingvalue) | Increase/decrease | Endingbalance(carryingvalue) | Endingbalanceofdepreciationreserve | |||||||
| Additionalinvestment | Reducedinvestment | Gainsandlossesrecognizedundertheequitymethod | Adjustmentofothercomprehensiveincome | Changesofotherequity | Cashbonusorprofitsannouncedtoissue | Withdrawalofimpairmentprovision | Other | ||||
| I.Jointventures | |||||||||||
| ShenzhenRealEstateJifaWarehousingCo.,Ltd. | 38,614,771.66 | 43,811.79 | 38,658,583.45 | ||||||||
| Tian’anInternationalBuildingPropertyManagementCompanyof | 6,461,351.06 | 113,250.00 | 6,574,601.06 | ||||||||
| Shenzhen | ||||||
| Subtotal | 45,076,122.72 | 157,061.79 | 45,233,184.51 | |||
| II.Associatedenterprises | ||||||
| ShenzhenWufangCeramicsIndustrialCo.,Ltd. | 18,983,614.14 | |||||
| Subtotal | 18,983,614.14 | |||||
| Total | 45,076,122.72 | 157,061.79 | 45,233,184.51 | 18,983,614.14 | ||
(3)OtherNotes
4.OperatingRevenueandCostofSales
Unit:RMB
| Item | ReportingPeriod | Sameperiodoflastyear | ||
| Operatingrevenue | Costofsales | Operatingrevenue | Costofsales | |
| Mainoperations | 25,828,330.02 | 15,835,977.53 | 341,910,051.35 | 64,045,206.33 |
| Otheroperations | 659,988.00 | |||
| Total | 25,828,330.02 | 15,835,977.53 | 341,910,051.35 | 64,705,194.33 |
Relevantinformationofrevenue:
Unit:RMB
| Categoryofcontracts | Segment1 | Segment2 | Total | |
| Ofwhich: | ||||
| Ofwhich: | ||||
| Ofwhich: | ||||
| Ofwhich: | ||||
| Ofwhich: | ||||
| Ofwhich: | ||||
| Ofwhich: |
Informationrelatedtoperformanceobligations:
Informationrelatedtotransactionvalueassignedtoresidualperformanceobligations:
Theamountofrevenuecorrespondingtoperformanceobligationsofcontractssignedbutnotperformedornotfullyperformedyet
wasRMB0.00attheperiod-end,amongwhichRMB0.00wasexpectedtoberecognizedintheyear,RMBXXXintheyearandRMBXXXintheyear.Othernotes:
5.InvestmentIncome
Unit:RMB
| Item | ReportingPeriod | Sameperiodoflastyear |
| Long-termequityinvestmentincomeaccountedbyequitymethod | 157,061.79 | 780,826.57 |
| Investmentincomeoffinancialinstrumentduringholdingperiod | 62,416,928.73 | 16,099,318.67 |
| Total | 62,573,990.52 | 16,880,145.24 |
6.Other
Notapplicable.
XVIII.SupplementaryMaterials
1.ItemsandAmountsofNon-recurringProfitorLoss
√Applicable□Notapplicable
Unit:RMB
| Item | Amount | Note |
| Gains/lossesonthedisposalofnon-currentassets | 1,901.04 | Disposalofretailassets |
| GovernmentgrantsrecognizedintheCurrentPeriod,exceptforthoseacquiredintheordinarycourseofbusinessorgrantedatcertainquotasoramountsaccordingtothegovernment’sunifiedstandards | 3,647,311.17 | Subsidyofepidemicpreventionreceived |
| Othernon-operatingincomeandexpenseotherthantheabove | -1,905,036.49 | |
| Less:Incometaxeffects | 400,624.88 | |
| Non-controllinginterestseffects | -2,560.54 | |
| Total | 1,346,111.38 | -- |
ExplainthereasonsiftheCompanyclassifiesanitemasannon-recurringgain/lossaccordingtothedefinitionintheExplanatoryAnnouncementNo.1onInformationDisclosureforCompaniesOfferingTheirSecuritiestothePublic—Non-recurringGainsandLosses,orclassifiesanyextraordinarygain/lossitemmentionedinthesaidexplanatoryannouncementasarecurrentgain/lossitem.
□Applicable√Notapplicable
2.ReturnonEquityandEarningsPerShare
| ProfitasofReportingPeriod | WeightedaverageROE(%) | EPS(Yuan/share) | |
| EPS-basic | EPS-diluted | ||
| NetprofitattributabletoordinaryshareholdersoftheCompany | 6.66% | 0.3557 | 0.3557 |
| NetprofitattributabletoordinaryshareholdersoftheCompanyafterdeductionofnon-recurringprofitorloss | 6.62% | 0.3534 | 0.3534 |
3.DifferencesbetweenAccountingDataunderDomesticandOverseasAccountingStandards
(1)DifferencesofNetProfitandNetAssetsDisclosedinFinancialReportsPreparedunderInternationalandChineseAccountingStandards
□Applicable√Notapplicable
(2)DifferencesofNetprofitandNetassetsDisclosedinFinancialReportsPreparedunderOverseasandChineseAccountingStandards
□Applicable√Notapplicable
(3)ExplainReasonsfortheDifferencesbetweenAccountingDataunderDomesticandOverseasAccountingStandards;foranyAdjustmentMadetotheDifferenceExistingintheDataAuditedbytheForeignAuditingAgent,SuchForeignAuditingAgent’sNameShallBeClearlyStated
4.Other
PartXIIDocumentsAvailableforReference
I.ThefinancialstatementswiththesignaturesandstampsoftheCompany’slegalrepresentative,headoffinancialaffairsandheadofthefinancialdepartment;andII.TheoriginalsofalltheCompany’sdocumentsandannouncementsdisclosedtothepublicvianewspapersdesignatedbytheCSRCintheReportingPeriod.