SHENZHENPROPERTIES&RESOURCES
DEVELOPMENT(GROUP)LTD.
ANNUALREPORT2023
(AnnouncementNo.2024-06)
March2024
ANNUALREPORT2023
PartIImportantNotes,TableofContentsandDefinitions
TheBoardofDirectors(orthe“Board”),theSupervisoryCommitteeaswellasthedirectors,supervisorsandseniormanagementofShenZhenProperties&ResourcesDevelopment(Group)Ltd.(hereinafterreferredtoasthe“Company”)herebyguaranteethefactuality,accuracyandcompletenessofthecontentsofthisReportanditssummary,andshallbejointlyandseverallyliableforanymisrepresentations,misleadingstatementsormaterialomissionstherein.LiuShengxiang,theCompany’slegalrepresentative,CaiLili,theCompany’sheadoffinancialaffairs,andCaiKelin,headoftheCompany’sfinancialdepartment(equivalenttofinancialmanager)herebyguaranteethattheFinancialStatementscarriedinthisReportarefactual,accurateandcomplete.AlltheCompany’sdirectorshaveattendedtheBoardmeetingforthereviewofthisReportanditssummary.TheCompanyhasdescribedindetailinthisReportthepossiblerisksfacingit,alongwithcountermeasures.Pleaserefertothesectionheaded“Prospects”of“PartIIIManagementDiscussionandAnalysis”ofthisReport.TheBoardhasapprovedafinaldividendplanasfollows:basedonthesharecapitalof595,979,092shares,acashdividendofRMB3.12(taxinclusive)per10sharesistobedistributedtotheshareholders,withnobonusissuefromeitherprofitorcapitalreserves.ThisReportanditssummaryhavebeenpreparedinChineseandtranslatedintoEnglish.Shouldtherebeanydiscrepanciesormisunderstandingsbetweenthetwoversions,theChineseversionsshallprevail.
TableofContents
PartIImportantNotes,TableofContentsandDefinitions ...... 2
PartIICorporateInformationandKeyFinancialInformation ...... 6
PartIIIManagementDiscussionandAnalysis ...... 12
PartIVCorporateGovernance ...... 42
PartVEnvironmentalandSocialResponsibility ...... 67
PartVISignificantEvents ...... 70
PartVIIShareChangesandShareholderInformation ...... 84
PartVIIIPreferredShares ...... 93
PartIXBonds ...... 94
PartXFinancialStatements ...... 95
DocumentsAvailableforReference
I.ThefinancialstatementswiththesignaturesandstampsoftheCompany’slegalrepresentative,headoffinancialaffairsandheadofthefinancialdepartment;II.TheoriginaloftheIndependentAuditor’sReportwiththestampoftheCPAfirmandthesignaturesandstampsofthecertifiedpublicaccounts;andIII.TheoriginalsofalltheCompany’sdocumentsandannouncementsdisclosedtothepublicintheReportingPeriod.
Definitions
| Term | Definition |
| The“Company”,the“Group”,“SZPRD”or“we” | ShenZhenProperties&ResourcesDevelopment(Group)Ltd.anditsconsolidatedsubsidiaries,exceptwherethecontextotherwiserequires |
| SIHC | ShenzhenInvestmentHoldingsCo.,Ltd. |
| HuangchengRealEstate | ShenzhenHuangchengRealEstateCo.,Ltd. |
| DongguanCompany | DongguanITCChangshengRealEstateDevelopmentCo.,Ltd. |
| XuzhouCompany | SZPRDXuzhouDapengRealEstateDevelopmentCo.,Ltd. |
| YangzhouCompany | SZPRDYangzhouRealEstateDevelopmentCo.,Ltd. |
| WuheUrbanRenewal | ShenzhenWuheUrbanRenewalCo.,Ltd. |
| RongyaoRealEstate | ShenzhenRongyaoRealEstateDevelopmentCo.,Ltd. |
| ITCPropertyManagement | ShenzhenInternationalTradeCenterPropertyManagementCo.,Ltd. |
| ITCTechnologyPark | ShenzhenITCTechnologyParkServiceCo.,Ltd. |
| GuomaomeiLife | ShenzhenGuomaomeiLifeServiceCo.,Ltd. |
| CommercialOperationCompany | ShenzhenSZPRDCommercialOperationCo.,Ltd. |
| GuomaoCatering | ShenzhenGuomaoCateringCo.,Ltd. |
| SupervisionCompany | ShenzhenPropertyEngineeringandConstructionSupervisionCo.,Ltd. |
| WuheCompany | ShenzhenWuheIndustryInvestmentDevelopmentCo.,Ltd. |
| ShenzhenPropertyManagement | ShenzhenPropertyManagementCo.,Ltd. |
| ForeignTradePropertyManagement | ShenzhenForeignTradePropertyManagementCo.,Ltd. |
| ShenfubaoPropertyDevelopment | ShenzhenShenfubaoPropertyDevelopmentCo.,Ltd. |
| HydropowerCompany | ShenzhenShenfubaoHydropowerMunicipalServiceCo.,Ltd. |
| SecurityServiceCompany | ShenzhenFreeTradeZoneSecurityServiceCo.,Ltd. |
| FMC | ShenzhenFacilityManagementCommunityTechnologyCo.,Ltd. |
| RMB,RMB’0,000,RMB’00,000,000 | ExpressedintheChinesecurrencyofRenminbi,expressedintensofthousandsofRenminbi,expressedinhundredsofmillionsofRenminbi |
PartIICorporateInformationandKeyFinancialInformation
ICorporateInformation
| Stockname | PRD,PRD-B | Stockcode | 000011,200011 |
| Previousstockname(ifany) | N/A | ||
| Stockexchangeforstocklisting | ShenzhenStockExchange | ||
| CompanynameinChinese | 深圳市物业发展(集团)股份有限公司 | ||
| Abbr. | 深物业集团 | ||
| CompanynameinEnglish(ifany) | ShenZhenProperties&ResourcesDevelopment(Group)Ltd. | ||
| Abbr.(ifany) | SZPRD | ||
| Legalrepresentative | LiuShengxiang | ||
| Registeredaddress | 39/Fand42/F,InternationalTradeCenter,RenminSouthRoad,LuohuDistrict,Shenzhen,GuangdongProvince,P.R.China | ||
| Zipcode | 518014 | ||
| Pastchangesofregisteredaddress | N/A | ||
| Officeaddress | 16/F,20/F,39/Fand42/F,InternationalTradeCenter,RenminSouthRoad,LuohuDistrict,Shenzhen,GuangdongProvince,P.R.China | ||
| Zipcode | 518014 | ||
| Companywebsite | www.szwuye.com.cn | ||
| Emailaddress | 000011touzizhe@szwuye.com.cn | ||
IIContactInformation
| BoardSecretary | SecuritiesRepresentative | |
| Name | ZhangGejian | DingMinghuaandChenQianying |
| Address | 20/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 | 0755-82210610、82212043 | 0755-82210610、82212043 |
| Emailaddress | 000011touzizhe@szwuye.com.cn | 000011touzizhe@szwuye.com.cn |
IIIMediaforInformationDisclosureandPlacewherethisReportIsLodged
| StockexchangewebsitewherethisReportisdisclosed | TheShenzhenStockExchange:http://www.szse.cn |
| MediaandwebsitewherethisReportisdisclosed | ForA-stockinvestors:SecuritiesTimesForB-stockinvestors:TaKungPao(HK)www.cninfo.com.cn |
| PlacewherethisReportislodged | BoardOffice,39/F,InternationalTradeCenter,RenminSouthRoad,LuohuDistrict,Shenzhen,GuangdongProvince,P.R.China |
IVChangetoCompanyRegisteredInformation
| Unifiedsocialcreditcode | Nochange |
| ChangetoprincipalactivityoftheCompanysincegoingpublic(ifany) | Nochange |
| Everychangeofcontrollingshareholdersinceincorporation(ifany) | On29September2004,theState-OwnedAssetsSupervisionandAdministrationCommissionofShenzhenMunicipality(“SASACShenzhen”)decidedtoincorporateShenzhenInvestmentHoldingsCo.,Ltd.(“SIHC”)toincludeShenzhenInvestmentManagementCo.,Ltd.(“SIM”,theformercontrollingshareholderoftheCompany)andShenzhenConstructionInvestmentHoldingsCorporation(“SCIHC”).SCIHCandSIMhold323,796,324and56,582,573sharesrespectivelyintheCompany,representingacombinedstakeof63.82%.On19October2018,theCompanywasnotifiedbyitsactualcontrollingshareholderSIHCthatithadreceivedtheConfirmationofSecuritiesTransferRegistrationfromChinaSecuritiesDepositoryandClearingCo.,Ltd.(Shenzhenbranch),markingthecompletionoftheequitytransfertoSIHC.Assuch,SIHChasbecomethecontrollingshareholderoftheCompany.ThecontrollingshareholderremainedunchangedduringtheReportingPeriod. |
VOtherInformation
TheindependentauditfirmhiredbytheCompany:
| Name | BakerTillyChinaCertifiedPublicAccountantsLLP |
| Officeaddress | 16A,B,C,D,EandF,aswellas18A1,D2,EandF2,SZMDFinanceCenter,9PengchengFirstRoad,FuxinCommunity,LotusStreet,FutianDistrict,Shenzhen,GuangdongProvince,China |
| Accountantswritingsignatures | ChenZihan,andZhongQinfang |
TheindependentsponsorhiredbytheCompanytoexerciseconstantsupervisionovertheCompanyintheReportingPeriod:
□Applicable?NotapplicableTheindependentfinancialadvisorhiredbytheCompanytoexerciseconstantsupervisionovertheCompanyintheReportingPeriod:
□Applicable?NotapplicableVIKeyFinancialInformation
Indicatebytickmarkwhetherthereisanyretrospectivelyrestateddatuminthetablebelow.?Yes□NoReasonforretrospectiverestatement:
Changeinaccountingpolicy
| 2023 | 2022 | 2023-over-2022change(%) | 2021 | |||
| Before | Restated | Restated | Before | Restated | ||
| Operatingrevenue(RMB) | 2,965,117,025.04 | 3,708,669,046.85 | 3,708,669,046.85 | -20.05% | 4,911,120,528.33 | 4,911,120,528.33 |
| Netprofitattributabletothelisted | 464,014,492.11 | 537,664,698.69 | 537,291,574.13 | -13.64% | 1,025,380,909.03 | 1,027,457,653.96 |
| company’sshareholders(RMB) | ||||||
| Netprofitattributabletothelistedcompany’sshareholdersbeforeexceptionalgainsandlosses(RMB) | -172,360,115.90 | 390,440,612.64 | 390,067,488.08 | -144.19% | 983,778,096.90 | 985,854,841.83 |
| Netcashgeneratedfrom/usedinoperatingactivities(RMB) | -264,092,984.33 | 105,233,103.86 | 105,233,103.86 | -350.96% | -1,828,979,752.45 | -1,828,979,752.45 |
| Basicearningspershare(RMB/share) | 0.7786 | 0.9022 | 0.9015 | -13.63% | 1.7205 | 1.7240 |
| Dilutedearningspershare(RMB/share) | 0.7786 | 0.9022 | 0.9015 | -13.63% | 1.7205 | 1.7240 |
| Weightedaveragereturnonequity(%) | 10.26% | 12.37% | 12.36% | -2.10% | 24.49% | 25.19% |
| 31December2023 | 31December2022 | Changeof31December2023over31December2022(%) | 31December2021 | |||
| Before | Restated | Restated | Before | Restated | ||
| Totalassets(RMB) | 16,988,062,068.09 | 15,800,287,610.40 | 15,824,788,371.56 | 7.35% | 14,835,846,843.78 | 14,859,964,860.88 |
| Equityattributabletothelistedcompany’sshareholders(RMB) | 4,661,810,328.75 | 4,412,555,547.97 | 4,414,259,168.34 | 5.61% | 4,590,052,057.75 | 4,614,170,074.85 |
Reasonforchangeinaccountingpolicyandcorrectionofaccountingerror:
Therelevantfinancialstatementitemsof2022and2023wereretrospectivelyrestatedaspertheAccountingStandardNo.16forBusinessEnterprisesandtheAccountingStandardNo.18—IncomeTaxforBusinessEnterprises.Indicatebytickmarkwhetherthelowerofthenetprofitattributabletothelistedcompany’sshareholdersbeforeandafterexceptionalgainsandlosseswasnegativeforthelastthreeaccountingyears,andthelatestindependentauditor’sreportindicatedthattherewasuncertaintyabouttheCompany’sabilitytocontinueasagoingconcern.
□Yes?NoIndicatebytickmarkwhetherthelowerofthenetprofitattributabletothelistedcompany’sshareholdersbeforeandafterexceptionalgainsandlosseswasnegative.?Yes□No
| Item | 2023 | 2022 | Remark |
| Operatingrevenue(RMB) | 2,965,117,025.04 | 3,708,669,046.85 | Businessrevenueunrelatedtotheprincipaloperationswasexcluded,mainlyincomefromcompensationfortemporaryrelocationfortheChuanbuStreetscaffoldingprojectandconsultancyincome |
| Amountdeductedfromoperatingrevenue(RMB) | 17,825,350.04 | 91,555,827.12 | Businessrevenueunrelatedtotheprincipaloperationswasexcluded,mainlyincomefromcompensationfortemporaryrelocationfortheChuanbuStreetscaffoldingprojectandconsultancyincome |
| Operatingrevenueafterdeduction(RMB) | 2,947,291,675.00 | 3,617,113,219.73 | Businessrevenueunrelatedtotheprincipaloperationswasexcluded,mainlyincomefromcompensationfortemporaryrelocationfortheChuanbuStreetscaffoldingprojectandconsultancyincome |
VIIAccountingDataDifferencesunderChina’sAccountingStandardsforBusinessEnterprises(CAS)andInternationalFinancialReportingStandards(IFRS)andForeignAccountingStandards
1.NetProfitandEquityunderCASandIFRS
□Applicable?NotapplicableNodifferencefortheReportingPeriod.
2.NetProfitandEquityunderCASandForeignAccountingStandards
□Applicable?NotapplicableNodifferencefortheReportingPeriod.VIIIKeyFinancialInformationbyQuarter
Unit:RMB
| Q1 | Q2 | Q3 | Q4 | |
| Operatingrevenue | 411,469,619.15 | 1,493,995,013.70 | 521,861,580.85 | 537,790,811.34 |
| Netprofitattributabletothelistedcompany’sshareholders | 13,216,750.95 | 207,686,693.68 | 10,448,055.65 | 232,662,991.83 |
| Netprofitattributabletothelistedcompany’sshareholdersbeforeexceptionalgainsandlosses | 13,335,100.35 | 207,509,610.79 | 11,244,393.64 | -404,449,220.68 |
| Netcashgeneratedfrom/usedinoperatingactivities | -419,149,918.25 | -160,871,739.90 | -359,617,394.77 | 676,245,131.34 |
IndicatebytickmarkwhetheranyofthequarterlyfinancialdatainthetableaboveortheirsummationsdiffersmateriallyfromwhathavebeendisclosedintheCompany’squarterlyorinterimreports.
□Yes?No
IXExceptionalGainsandLosses
?Applicable□Notapplicable
Unit:RMB
| Item | 2023 | 2022 | 2021 | Note |
| Gainorlossondisposalofnon-currentassets(inclusiveofimpairmentallowancewrite-offs) | 702,127,250.52 | 175,644,543.02 | -62,170.29 | Receiptofpaymentforequitytransfer |
| Governmentgrantsrecognisedincurrentprofitorloss(exclusiveofthosethatarecloselyrelatedtotheCompany'snormalbusinessoperationsandgiveninaccordancewithdefinedcriteriaandincompliancewithgovernmentpolicies,andhaveacontinuingimpactontheCompany'sprofitorloss) | 7,802,977.21 | 10,633,227.34 | 23,923,655.59 | |
| Gainorlossonfair-valuechangesinfinancialassetsandliabilitiesheldbyanon-financialenterprise,aswellasondisposaloffinancialassetsandliabilities(exclusiveoftheeffectiveportionofhedgesthatariseintheCompany’sordinarycourseofbusiness) | 1,300.91 | |||
| Capitaloccupationchargesonanon-financialenterprisethatarechargedtocurrentprofitorloss | 132,289.35 | |||
| Currentprofitorlossonsubsidiariesobtainedinbusinesscombinationsinvolvingenterprisesundercommoncontrolfromtheperiod-beginningtocombinationdates,net | 9,596,148.16 | 21,251,005.70 | ||
| GainorlossoncontingenciesthatareunrelatedtotheCompany'snormalbusinessoperations | 70,578.79 | |||
| Non-operatingincomeandexpenseotherthantheabove | -2,773,489.32 | 2,448,235.99 | 2,915,682.88 | |
| Othergainsandlossesthatmeetthedefinitionofexceptionalgain/loss | 5,684,844.32 | 277,896.27 | 169,262.03 | Over-deductioninVATcalculation |
| Less:Incometaxeffects | 76,182,752.47 | 51,525,180.31 | 6,749,597.21 | |
| Non-controllinginterestseffects(netoftax) | 284,222.25 | 54,953.47 | -154,973.43 | |
| Total | 636,374,608.01 | 147,224,086.05 | 41,602,812.13 | -- |
Particularsaboutothergainsandlossesthatmeetthedefinitionofexceptionalgain/loss:
?Applicable□Notapplicable
Thepreferentialpolicyinrelationtoover-deductioninVATcalculationexpiredon31December2023.ThisincomedoesnotcontinuetoimpacttheCompany’sgainsandlosses.NosuchcasesfortheReportingPeriod.ExplanationofwhytheCompanyreclassifiesasrecurrentanexceptionalgain/lossitemlistedintheExplanatoryAnnouncementNo.1onInformationDisclosureforCompaniesOfferingTheirSecuritiestothePublic—ExceptionalGain/LossItems:
□Applicable?NotapplicableNosuchcasesfortheReportingPeriod.
PartIIIManagementDiscussionandAnalysis
IIndustryOverviewfortheReportingPeriod
(I)Macro-economicsituationandindustrydevelopmentstatusTheinternationalanddomesticsituationsin2023werefraughtwithuncertainties,withtheeconomyinasluggishrecoveryandthetraditionalrealestatemarketundersustainedpressure.Inordertomitigaterisksintherealestatesector,therehasbeenagradualshiftinpolicytowardsastrategyof"supportingandleveraging"sincetheMeetingofthePoliticalBureauoftheCPCCentralCommitteeinJuly,whichacknowledgedthenewdynamicsinthesupply-demandrelationshipintheChineserealestatemarket.DuringtheReportingPeriod,centralpolicymeasurestransitionedfromstabilitytorelaxation,withaspecificfocusonpromotingthe''ThreeMajorProjects"ofurbanvillagetransformation,affordablehousing,anddual-useinfrastructureconstruction.Theimplementationoffinancialpoliciestoalleviatesupply-sidepressurespersisted,resultinginareliefoffundingconstraintsforrealestatedevelopers.Policiesaimedatsupportingresidentsinbuyinghomes,suchasreduceddownpayments,loweredinterestrates,andmeasuresallowingpropertyrecognitionwithoutmortgageverification,wereintroducedtostabilizedemandontheconsumerside.Continuousoptimizationofhousingpoliciesbygovernmentdepartmentsatalllevelshasbeeninstrumentalinensuringthestablefunctioningoftherealestatemarket,therebycreatingamoreaccommodatingpolicyenvironment.Theyearunfoldedwiththesalesmarketgenerallymiredintorpor,assalesvolume,developmentinvestment,andlandsupplyanddemandalldwindled.AccordingtothedatafromtheNationalBureauofStatistics,thesalesareaofcommercialhousingthroughout2023was1,117.35millionsquaremetersnationwide,adecreaseof8.5%fromthepreviousyear.Furthermore,salesrevenueplummetedtoRMB11,662.2billion,downby6.5%.Theadjustmenttrendinthenewhousingmarketremainedunchanged,withthesustainabilityofpolicyeffectsincorecitiesprovinginsufficient.Asthemarketshiftstowardstradingvolumeforprice,thesecondaryhousingmarketinkeycitiesoutperformedthatofnewhousing.IntheperiodfromJanuarytoNovember,therewasayear-on-yeardecreaseofabout5%inthetransactionareaofnewresidentialpropertiesinthetop100cities,representingthelowestabsolutelevelforthesameperiodsince2016.Thetotalinvestmentofthetop100investorshitanewlow,withnosignificantimprovementobservedinoverallinvestmentsentiment.Realestateinvestmentin2023followedthedecliningtrendseenin2022,withnationalrealestatedevelopmentinvestmentamountingtoRMB11,091.3billion,reflectinga9.6%decreasefromthepreviousyear.Thedecreaseininvestmentscaleindicatesagradualreductioninincrementalfundsintherealestatesector,leadingtodiminishingindustryattractivenessandthegradualexitofexistingstockrealestateenterprises.Thehousingnewconstructionareain2023amountedto953.76millionsquaremeters,representinga20.4%decline.Realestatedevelopmentcompaniescompletedconstructiononatotalareaof8,383.64millionsquaremetersofhousesthroughouttheyear,reflectinga7.2%declinefromthepreviousyear.Thehousingcompletionareareached998.31millionsquaremeters,representinga17.0%increase.Landacquisitiondeceleratesassupplyanddemanddecreasetoanear-decadelow.Sincetheendoflastyearonwards,thelandmarkethascontinuedtoexperienceadownturn,promptinglocalgovernmentstoexercisegreatercautioninlandsupply,withenterprisesshowinganotableshrinkageintheirlandacquisitionintentionsonthedemandside.In2023,thetotalsupplyanddemandscaleofresidentiallandin300citiesnationwideexperiencedayear-on-yeardeclineofover20%.Thisincludedthereleaseof610millionsquaremeters,downby22.4%comparedtothepreviousyear,andthetransactionof480millionsquaremeters,showinga23.1%decrease.Thisabsolutescalewasthelowestinthelasttenyears.ThetotallandtransactionamountnationwidewasRMB3,750.4billion,representingan18%year-on-yeardecreasecomparedtothesameperiodlastyearThemajorityoflandtransactionswereconductedatbaseprices,resultingintransactionamountsmaintainingsubstantialdisparitiescomparedtothesameperiodlastyear.Thepremiumrateremainsrelativelylow,withanannualpremiumrateofonly4.5%.Thereinto,in2023,thetransactionamountinShenzhendecreasedby62%,withthetotaltransactionamountdecreasingbyoverRMB55billioncomparedtothepreviousyear.
PolicySupportFailstoDriveSignificantFinancialImprovementNationalrealestatedevelopmentinvestmenthasbeenonacontinuousdeclinesinceApril2022,withtherateofdecreaseexpandingoverallin2023.Realestateenterpriseshavewitnessedayear-on-yeardownwardtrendintheiravailablefunds.AttheendofOctober,theCentralFinancialWorkConferenceemphasizedtheimportanceof"encouragingpositiveinteractionbetweenfinanceandrealestate,enhancingregulatorysystemsandfundsupervisionforrealestateenterprises,refiningmacro-prudentialmanagementofrealestatefinance,andprovidingfairtreatmenttodifferenttypesofrealestateenterprisestoaddresstheirfinancingrequirements.Despitetheaccelerationofmortgagelendingbybanks,theuncertaintyofeconomicrecoveryhasnegativelyimpactedhomebuyers'confidence,resultinginindividualmortgageloansamountingtoRMB1.9trillion,whichrepresentsayear-on-yeardecreaseof7.6%.Realestatecompanies'salesrepaymentshavebeennegativelyaffectedtovaryingdegrees.ThefundsinplaceforrealestatedevelopmententerprisesthroughouttheyearreachedRMB12,745.9billion,representinga13.6%year-on-yeardecreaseaccordingtodatafromtheNationalBureauofStatistics.Thecentralgovernmentandvariousministriesandcommissionshavecontinuouslyreleasedstabilizationsignalssince2013.Whilethecreditenvironmenthasmarginallyimproved,itwilltaketimeforthisimprovementtobetransmittedtothemarketend.Thearrivalofmortgageloansanddevelopmentloansstillrequirestime.(II)PolicyenvironmentoftheindustryIn2023,thecentralgovernmentintroducedtheconceptofthe"ThreeMajorProjects,"markingashiftinrealestateindustrypoliciesfromthemantraof"housingisforliving,notforspeculation"tofocusingon"riskpreventionandresolution,tailoredpoliciesfordifferentcities,meetingessentialandimprovementneeds,andfosteringinnovativemodels",withastrongemphasisonpromotingthestableandhealthydevelopmentoftherealestatemarket.Policiessuchasreducingdownpayments,loweringinterestrates,recognizingthehouse,nottheloan,andextendingtaxrefundsforslippagepropertyreplacementsweresuccessivelyimplementedtoaddressdemand-sideissues.Onthesupplyside,reliefmeasuresliketheextensionofthe"16FinancialRegulations",the"ThreeNo-Lower-Than"policy,andthecreationofa"WhiteList"forrealestateenterprisesweresuccessivelyproposed.Insummary,therearethreecoreaspectsoftherealestateindustrypolicyin2023:reinforcingfinancialsupportonthesupplysidetoalleviatethefinancialpressureofrealestateenterprises;intensifyingsupportforpersonalcredittoalleviateresidents'mortgagepressureandboosthousingdemandrelease;andacceleratingtherelaxationoflocalregulatorypoliciestoupliftmarketsentimentandbolstertheconfidenceofhomebuyers.Thedemand-sideisprimarilyfocusedonlandandfinancialpolicies.(1)Thepolicyof"RecognizingtheHouse,NottheLoan"hasbeenimplemented.Theimplementationofthepolicyof"RecognizingtheHouse,NottheLoan"wasconfirmedonAugust25ththroughajointannouncementbytheMinistryofHousingandUrban-RuralDevelopment,thePeople'sBankofChina,andtheChinaBankingandInsuranceRegulatoryCommission.Thispolicybenefitsindividualsseekingpropertyreplacementsandthosepurchasinghomesindifferentlocations,withatleast63provincesandcities,includingmajormetropolitanareaslikeBeijing,Shanghai,Guangzhou,andShenzhen,havepubliclydeclaredtheiradherencetothepolicy;(2)Theloweringoftheminimumdownpaymentratiohasopenedupspaceforreduceddownpaymentsinrestrictedpurchasecities.OnAugust31st,thePeople'sBankofChinaandtheChinaBankingandInsuranceRegulatoryCommissionissuedanoticeregardingtheadjustmentandoptimizationofdifferentiatedcreditpolicies,whichstandardizedtheminimumdownpaymentratioforhousingcommercialloansat20%andsettheminimumdownpaymentratioforthesecondhomeataminimumof30%,nolongerdistinguishingbetweenregionswithorwithoutpurchaserestrictions;(3)Thehurdlerateoffirst-homemortgagesunderwentdynamicregulation,andtheminimuminterestrateonsecond-homemortgageswasreduced.OnJanuary5th,thePeople'sBankofChinaandtheChinaBankingandInsuranceRegulatoryCommissionestablishedadynamicadjustmentmechanismfortheminimuminterestrateonfirst-homemortgages.Followingthis,nearlyahundredcitieshaveloweredthehurdlerateoffirst-homemortgages,withover20citiesabolishingtheminimumlimit.OnAugust31st,theCentralBankandtheBankingRegulatoryCommissionannouncedtheadjustmentofthehurdlerateofsecond-homecommercialloansfromLPR+60BPtoLPR+20BP;(4)Thereductionofinterestratesonexistinghousingloansisimplementedtoalleviateresidents'debtpressure.OnAugust31st,theCentralBankandtheBankingRegulatoryCommissionissuedguidanceforcommercialbankstolowertheinterestratesonexistingfirst-homemortgages;(5)Reserveratiosandinterestratesaredecreased.OnMarch27thandSeptember15th,therewerecomprehensivereductionsof0.25
percentagepointsinreserveratios.The1-yearLPRwasloweredby10basispointsto3.55%onJune20th,andtheLPRratesforperiodsover5yearsweredecreasedby10basispointsto4.2%.OnAugust20th,the1-yearLPRsawaunilateralreductionof10basispointsto3.45%.Thesupplysidefocusedonlandandfinancialcontrol.(1)Intermsofland,thelandsupplyplanfor2023wasreducedby10%,withanactualcompletionrateofaround40%.Thecompletionrateofthe2023landsupplyplanisrelativelylow.Localgovernmentsareactivelyoptimizingandadjustinglandauctionrulesandthestructureoflandsupplytoattractrealestatedeveloperstoparticipateinbidding.Leadingrealestatecompaniescontinuetoheavilyinvestinpremiumlandparcels,withtheiradvantagesexpectedtogrowfurther.Thetrendof"thestronggettingstronger"islikelytocontinue,whilelocalurbaninvestmententitiesmayscalebacktheirlandacquisitionefforts.Privateenterprisesareadoptingacautiousinvestmentapproach,necessitatinganextendedrecoveryperiod;(2)Intermsofpolicies,theCentralPoliticalBureaumeetingproposedto"adapttothenewsituationwheresignificantchangeshaveoccurredinthesupplyanddemandrelationshipofChina'srealestatemarket,timelyadjustandoptimizerealestatepolicies,andimplementdifferentiatedpoliciesbasedonlocalconditionstoeffectivelyutilizethepolicytoolbox.InJuly,theCentralBankextendedtheapplicationdeadlineforthe"16FinancialMeasures".InAugust,theChinaSecuritiesRegulatoryCommission(CSRC)clarifiedthatlistedrealestateenterpriseswerenotsubjecttorestrictionsrelatedtofallingbelowtheissueprice,fallingbelownetassetvalue,orincurringlossesforrefinancing.InOctober,theCentralFinancialWorkConferenceconvened,highlightingtheneedtoenhanceregulatorysystemsandfundsupervisionforrealestateenterprises,refinemacro-prudentialmanagementofrealestatefinance,andprovidefairtreatmenttodifferenttypesofrealestateenterprisestoaddresstheirfinancingrequirements.InNovember,threedepartmentsheldasymposiumforfinancialinstitutions,proposingtheconceptof"ThreeNo-Lower-Than,"anditisreportedthatregulatorswerealsodevisinga"whitelistof50realestateenterprises".Afterward,bankssuchastheIndustrialandCommercialBankofChina,AgriculturalBankofChina,ChinaConstructionBank,andBankofCommunicationsconvenedmeetingswithrealestateenterprisestolistentotheirfinancingdemandsandaffirmedtheircommitmenttoincreasingsupportforrealestatefinancing.In2023,provincesandcitiesnationwideloosenedpolicies,increasedefforts,andspeduptheprocess,with273provincesandcitiesimplementing622policyrelaxations,andalmostallrestrictiveadministrativemeasureswereremoved.Theregulationoftherealestatemarketcontinuestoimproveandupgrade,withthepaceandintensityofpolicytighteningsignificantlyincreasingsincethesecondhalfoftheyear.Inanticipationof2024,central-levelrealestatepoliciesareexpectedtofocusonthreemainareas:first,providingfinancialsupportfortheconstructionofthe"ThreeMajorProjects"andusingthisasacatalysttodrivethedevelopmentofanewmodelforrealestategrowth;second,implementingsupply-sidefinancialsupportmeasureslikethe"ThreeNo-Lower-Than";andthird,reducinghousingtransactiontaxesandfeestostabilizedemandandtherebythemarket.Asthetideofrealestatemarketcorrectionsurgesonward,onecannothelpbutponderthescopeforpolicyrefinementinthetop-tiercities.Additionally,itisnotunreasonabletoanticipateamorestreamlinedfinancingapparatusforrealestateenterprises.(III)RegionalmarketlandscapeFromtheperspectiveofregionalmarkets,Shenzhen'seconomyheldsteadfastinitsfortitudein2023,withrealestatepoliciesfocusingon"stabilizinglandprices,stabilizinghouseprices,stabilizingexpectations,supportingbothrigidandimprovedhousingdemand,andpromotingthestabledevelopmentoftherealestatemarket".Severalrelaxedandfavorablepoliciesandhousingcreditpolicieswereintroduced.Inthefirsthalfoftheyear,policiesrelatedtoaffordablehousingwerereleased,abolishingprevioushousingtypessuchasaffordablecommercialhousingandtalenthousing,andintroducingnewhousingtypeslikeaffordablerentalhousingandsharedownershiphousing.Theoriginaltargetofconstructingandsecuringaffordablehousingduringthe"14thFive-YearPlan"period,setat540,000units,wasadjustedtonofewerthan740,000units.Inthesecondhalfoftheyear,anoticewasissuedtooptimizethecriteriafordeterminingthenumberofhousingunitseligibleforpersonalhousingloans,implementingpoliciessuchas"recognizingthehouse,nottheloan",proposinganincreaseinthehousingprovidentfundwithdrawallimitforrenting,andadjustingandoptimizingthehurdlerateforpersonalhousingloans.Thesepoliciesaimtostimulatedemandfromessentialandupgradingcustomers,drivingthereleaseofhousingdemandamidshiftingmarketexpectations.
(IV)ThesituationandtasksfacingtheCompanyAttheendof2023,theNationalConferenceonHousingandUrban-RuralConstructionwasheldinBeijing,settingthetoneforthedevelopmentoftherealestateindustryin2024:adheringtotheprincipleofseekingprogresswhilemaintainingstability,promotingstabilitythroughprogress,andprioritizingdevelopmentbeforedemolition;implementingdifferentiatedpoliciesbasedonlocalconditions,adoptingtailoredstrategiesforeachcitytoachieveabalancedrelationshipbetweensupplyanddemandintherealestatemarket.FromtheperspectiveofShenzhenPropertyGroup,therearecertainchallengesinbothinternalandexternalenvironments.Theplannedsequentialmarketintroductionofallongoingprojectsemphasizessalesrevenueastheprimaryfocusfortheyear.Acceleratingfundretrieval,enforcingstrictexpenditurecontrol,safeguardingthesecurityandstabilityofcashflow,andpreemptingliquidityrisksarecrucialforachievingsoundbusinessoperations.Byadvancingin-depth,thehigh-qualitydevelopmentpatterninthepropertymanagementsectorisaccelerated.Byusingmultiplemeasuressimultaneously,theoverallpromotionofthetransformationandupgradingofcommercialoperationsiscoordinated.Throughproactiveactionanddeterministicworktoaddressuncertainmarketconditions,themaintenanceofstrategicfocusandthevigorouspursuitofcomprehensivecompletionofannualtasksandobjectivesareaimedfor,withthegoalofdrivingthegroup'svariousbusinessestoanewlevelwithhigherpositioningandgreateraccomplishments.(V)IndustrypositionoftheCompanySZPRDarosetogetherwithShenzhen'sreformandopeningupandhasdevoteditselftorealestate,propertymanagementandotherfieldsfornearlyfourdecades.Ithasachievedgradualimprovementsinitscomprehensivecapacity,brandinfluenceandindustrypositionandwonmanyhonorsandawardsovertheyears.DuringtheReportingPeriod,theCompanywonthetitlesof"Top20inComprehensiveStrengthintheShenzhenRealEstateDevelopmentIndustryin2023,Integrity(High-Quality)EnterpriseintheShenzhenRealEstateDevelopmentIndustry,and2023ShenzhenTop500Enterprises",witharankingof224th.ITCPropertyManagement,asubsidiaryoftheCompany,hasonceagainbeenrecognizedwithawardssuchas"2023Top100ChinaPropertyServiceEnterpriseswithComprehensiveStrength","2023Top100ChinaPropertyServiceEnterprisesinBrandValue",and"2023LeadingEnterpriseinPropertyServicesforChineseIndustrialParks".TheShenzhenInternationalTradeCenterBuildingwaslistedinthefirstgroupofShenzhenhistoricalbuildingsannouncedbythePeople'sGovernmentofShenzhenMunicipality.ThehistoricalexhibitionofShenzhenInternationalTradeCenterwaschosenforinclusioninthelistofsignificanthistoricalsitesofreformandopeningupandtheShenzhendemonstrationbaseforsocialsciencepopularizationin2023.TheseawardsandhonorsdemonstratedtheCompany'scomprehensivestrengthandreflectedthehighrecognitionoftheCompany'scomprehensivestrengthbytheindustry,customersandgovernmentdepartments.DuringtheReportingPeriod,facedwiththechanginglandscapeoftherealestateindustry,theCompanyhassetitssightsonthetargetandispushingtoachieveallannualbusinesstargetsbytheendoftheyear.Ittakesproactivemeasurestoadaptandflexiblyaddressmarketchallengeshead-on.TheCompanyisusingacombinationofapproachestoenhancethemarket-orientedtransformationofcommercialoperations.Thesmoothdevelopmentofthegroup'sbusinessesissafeguardedthroughactivemeasuresinsafetyproductionandmaintainingstabilityinpetitionsandappeals.IIPrincipalActivityoftheCompanyintheReportingPeriod(I)CoreBusinessOverviewEstablishedin1982,theCompanywasoriginallyknownas"LuohuEngineeringandConstructionHeadquarters"andrenamed"ShenzhenMunicipalPropertyDevelopmentCorporation"inAugust1985.TheCompanywasdeterminedasthesecondbatchofpilotunitsforjoint-stockreformofstate-ownedenterprisesin1988.Approvedbythemunicipalgovernment,theCompanyrenamedtoShenZhenProperties&ResourcesDevelopment(Group)Ltd.in1990.Thestockofthegroupcompany(stockname:SZPRD,A/B;stockcode:000011,200011)wasofficiallylistedinShenzhenStockExchangeinMarch1992.TheCompanycontractedandbuiltShenzhenInternationalTradeCenterBuildingasPartyAandcreated,planned,andorganizedtheworld-famous"ShenzhenSpeed".ThebuildingwastheplacewhereChairmanDengXiaopinggavetalksinhisinspectiontothe
south.SZPRDcameintobeingbecauseofthebuildingandhasrisenamidtheReformandOpeningupcampaign.EmergingandgrowingtogetherwithShenzhen,acityofmiracles,theCompanyhasbeen“aloyalpractitionerofthespiritoftheox”andovercomedifficultiesinproposingnewservicesinthenewera.SZPRDemployeeshavemanifestedtheenterprisespiritof"goingaheadandreforming"andcenteredonthefunctionalpositioningasstateassetsof"servingnationaleconomicandsocialdevelopment,thecity,theindustry,andthepeople".TheCompanyhasadheredtotheoriginalaspirationandstrivenaheadtobeapioneer.Therefore,ithasmaderemarkableachievementsindevelopmentspeedandquality.Sofar,theCompanyhasgrownintoalargecomprehensiveindustrialgroupfromtheprojectcompanythatbuiltShenzhenInternationalTradeCenterBuilding.Inthenewera,theCompanysizesupthesituation,seizesthemomentumandforgesaheadtowardthegoalandvisionofbecominga"leadingsmartoperatorofindustry-cityspaceinChina".
1.Industrial&urbanspacedevelopmentIntermsofthespacedevelopmentsegment,theCompanyisspecializedindevelopingtheresidence,thehi-endapartment,theofficebuilding,andtheindustrialparkandhasdevelopedabatchofbrandprojects,includingShenzhenInternationalTradeCenterBuilding,HuanggangPort,Tian'anInternationalBuilding,QianhaiGangwanGarden,andGoldenCollarHoliday.Basedonitspresentrealestatedevelopmentbusiness,theCompanywillimproveitsexistingportfolioandplanfornewbusinesses.Itwillengageanumberofsubsidiariesinpropertydevelopmentandurbanrenewals,includingHuangchengRealEstate,RongyaoRealEstate,andWuheUrbanRenewal,strengthencapitaloperationviathelistingplatform,andmakeareasonablelayoutofthecityspacedevelopmentsegment.IntheReportingPeriod,theGroupsteadilyadvancedthedevelopmentprojectsinsideandoutsideShenzhen,acceleratedthesalesofprojectsandspedupcashinflow.Moreover,itfocusedonthedevelopmentandconstructionofindustry-citycomplexesandacceleratedtocreateanintegratedandco-existingmodelforthedevelopmentofboutiqueurbanresidencesandhigh-endindustryspace.
2.PropertymanagementservicesTheCompany'spropertymanagementsegmenttakesITCPropertyManagementasitsplatform.AsChina’sfirstbatchoffirst-classqualifiedenterprisesinpropertymanagement,ITCPropertyManagement,aftermorethan30yearsofdevelopment,hasbecomeadomesticfirst-classpropertyserviceproviderwithdiversifiedbusinesscapabilitiesandtechnologicalstrength,andhasbeenawarded"Top100NationalPropertyManagementEnterprises"and"ExcellentEnterpriseofPropertyManagementinChina'sIndustrialParks"formanyyearsinarow.Theprojectsunderitsmanagementarealloverthecountry,anditsbusinessradiatestovariousregionsinChina,suchasSouthChina,SouthwestChina,EastChinaandNorthChina,aswellastheChina-VietnamCooperationZoneinVietnam.TheCompany'sexistingbusinesshascoveredindustrialparks,culturaltourismscenicspots,governmentagencies,railtransportation,housing,hospitals,schools,hotelsandothervariousbusinessmodels,andisplanningtodevelopthebusinessofgrassrootssocialgovernance.TheCompanycollaboratedwiththegovernmenttocreateasafe,harmonious,civilizedandorderlyurbanenvironment,basicallyformingapatternofintegrateddevelopmentofmultiplebusinessmodels.Therearemorethan20subsidiariesunderITCPropertyManagement,andwiththefunctionaldepartmentsoftheheadquartersastheplatform,ithasactivelybuiltthreecentersof"market,empowermentandsupervision",andformedthreebusinesscentersandprofitcentersofspecializedbusinessmodelcompanies,specializedcompaniesandcompaniesinotherregions,soastocontinuouslyandeffectivelyrealizethenewpatternofcoordinateddevelopmentof"1+1>2".DuringtheReportingPeriod,ITCPropertyManagementcompletedthereceiptofmanagementrightsandintegratedmanagementoffivenewly-acquiredenterprises,anditsmarketexpansionreachedarecordhigh.Thenetincreaseinmanagedpropertieswasapproximatelyeightmillionmeters,andthetotalmanagedpropertieshaveexceeded40millionsquaremeters.Notably,thescaleofoperationalmanagementforhigh-endindustrialparksispredictedtoretainitsexaltedstatusamongdomesticindustrialparkoperations.
3.IndustrialecosystemoperationWithrespecttotheindustrialecosystemoperationsegment,theCompanygavefullplaytoitsfoundationinthethreebasicindustries,namely,realestatedevelopment,propertymanagement,andleasingandtheadvantageofthewholeindustrychain,focusedonthetwomajorstrategiesof“value-addedoperationofexistingassets”and“light-assetoperationoutput”,anddeepenedinternalandexternalstrategiccooperation.Itiscommittedtocreatingaclosedloopofthewholeindustrialecosystem,coveringproject
developmentservices,parkoperationservices,andsupportingrentaloperations,andkeepingimprovingthespaceserviceandrentalecosystemintheindustrialpark.Auniqueandmaturebusinessdevelopmentmodelhasbeenputinplacewiththecapabilityandexperienceofthewholechainofplanning,dismantling,constructioncontrol,businessinvitation,operation,andon-sitemanagementwithrespecttovariousassets.TheCompanyisexpeditingthestocktakingandassessmentofitspropertiesinstockandstrengtheningthemanagementoverthem.Inthefuture,itwillgraduallyexpandthescopeofleasingandraisethedevelopmentcapabilityofpropertyrental.Moreover,theCompanygraduallyshiftsthefocusofindustrialecosystemoperationtosci-techparks,providessupportingservicescoveringthewholevaluechain,suchastheimportofindustrialecosystem,projectdevelopmentservices,andparkoperationservices,andservestheroleof"spaceserviceprovider"centeringonsci-techparks.
4.OtherbusinessIntheReportingPeriod,theCompany'sbusinessesalsoincludedcateringserviceandprojectsupervisionservice.ThecateringserviceisoperatedbyShenzhenGuomaoCateringCo.,Ltd.GuomaoCateringCo.,Ltd.,establishedin1986,becamefamousathomeandabroad,asitwastheplacewherePresidentDengXiaopinggavetalksduringhisinspectiontothesouthin1992.Sinceitsestablishment,ithasreceivedmorethan600countryleaders,famouspeople,andnumerousdomesticandoverseasguests,withitsreputationspreadingallovertheworld.TheprojectsupervisionserviceishandledbythesubordinatedsupervisioncompanyoftheGroup.ThecompanyhastheGradeAsupervisionqualificationofbuildingworksoftheMinistryofHousingandUrban-RuralDevelopment(MOHURD).ItwasoriginallyknownasShenzhenPropertyEngineeringManagementDepartment,andtakespartintheconstructionandmanagementworkofShenzhenInternationalTradeCenterBuilding.Itisawitnessofthewholeprocessof"Shenzhenspeed",andmainlyservesforthedevelopmentprojectoftheGroup.(II)BusinessreviewfortheCompanyin20232023isacriticalyearbridgingthepastandthefutureofthe"14thFive-YearPlan".Inthefaceoftheever-changinginternationalenvironmentandcomplexeconomicconditions,theCompanycloselyfocusedontheimplementationofthekeyworkplansformulatedatthebeginningoftheyear,emphasizedacceleratingprojectprogress,maximizedcapitalefficiency,empoweredplatforms,andensuredtheeffectivenessofindicators,inordertofullyachievetheannualtasksandgoals.Therealestateenterprisesrespondedtocircumstancesbyflexiblyadjustingtheirsalesstrategy,accuratelyseizingfavorableopportunitiestoinitiatepre-salesandreferremainingunits,andsettingthestageforachievingannualoperationaltargets.Thepropertymanagementcompaniesincreasedtheiroverallprofitabilityandcorecompetitivenessthroughmethodslikeorganizationalrestructuring,systemproceduresreengineering,andoptimizedtalentallocation.Aimedatexpeditingitstransformationandupgrade,thecommercialoperationscompaniescontinuedtoenhanceitsoperationalmanagementmodel,ensuringasteadyandhealthygrowthtrajectoryacrossitsvariousbusinesssegments.AsattheendoftheReportingPeriod,thetotalassetsoftheGroupstoodatapproximatelyRMB16.988billion.Duringtheyear,theGrouprecordedoperatingrevenueofapproximatelyRMB2.97billionandagrossprofitofapproximatelyRMB707million,successfullyachievingthemajoreconomicindicatorsfortheyear.First,theindustry-cityspacedevelopmentsegmenttookproactivemeasuresandadoptedflexiblestrategiestoaddressmarketchallenges.TherealestatebusinessrecordedoperatingrevenueofRMB1,235million,accountingfor41.64%ofthetotaloperatingrevenue.DuringtheReportingPeriod,thesimultaneousreleaseoffourmajornewrealestateprojects:theJinlingProject,theGuangmingYutangShangfuProject,theLanhuShidaiProject,andtheHumenSeaBayProject,occurred.Themarketingmanagementactivelyrespondedtomarketchanges,exercisedprudentjudgment,closelymonitoredmarketdynamicsinkeyareas,andseizedmarketopportunitiestodrivesalesandturnover.TheGroup'svariousbusinesslines,suchascost,design,andengineering,continuouslystrengthenednodetargetsandresourceprotectioncoordinationwhileadheringtomarket-orientedmanagementconceptsandhighlycoordinatedcooperation.Comprehensiveplanningandprojectconstructionwerecarriedoutinadvance,includingprojectschemedesign,biddingandprocurement,targetcostdetermination,andon-siteconstruction.Eachprojectinprogresswasefficientlyandorderlydeveloped,withtherefinedmanagementsystemfortheentirerealestateprojectdevelopmentprocesstakingshape.ProjectssuchasShenyangDigitalTown,HaikouHongqiCounty,FuyuanIndustrialPark,andHuiyangDanshuihavealsomadesignificantbreakthroughprogress.
Second,thepropertymanagementsegmentpushedforwardwithexternaloutreachandinternalcoordinationandworkedintandemtointensifymarketexpansionefforts.TheoperatingrevenuefrompropertymanagementwasRMB1.58billionthroughouttheyear,accountingfor53.24%ofthetotaloperatingrevenue,increasingitsshare.DuringtheReportingPeriod,ITCPropertyManagementactivelyengagedinexpandingpropertymanagementprojects,anddroveexternalexpansionandinternalcoordinationinparallel.Theadditionof70newexpansionprojectshasincreasedthemanagedareatoover40millionsquaremeters.CollaborativepartnershipswithShenzhenBaySuperHeadquartersBase,UrbanConstructionGroup,andotherentitieswerefurtherdeepened,resultingintheundertakingofmultiplehigh-qualityprojectswithinthesystem,suchastheShenzhen-HongKongInnovationRiverOpenCenterandDongguanQingxiPark.ITCPropertyManagementhasonceagainsecuredawardssuchas"2023Top100ChinesePropertyServiceEnterprisesinComprehensiveStrength","2023Top100ChinaPropertyServiceEnterprisesinBrandValue",and"2023LeadingEnterpriseinPropertyServicesforChineseIndustrialParks",continuouslyenhancingbrandvalueandreputation.ITCTechnologyParkactivelypursuedinitiativesinexploringpre-introductionservicesandcommunityservices,expandednewbusinessformatsliketheLonghuaDistrictSmartAgriculturalMarketSupervisionPlatform,andenhancedmanagementexperienceinsmartplatformoperationandfront-endconsultingservices.Furthermore,measuressuchasenrichingandadjustingtheteammembersoftheplatformcompany,optimizingtheinternalorganizationalstructure,andformulating25keytasksforhigh-qualitydevelopmentarebeingtakentofurtherenhancethecorecompetitiveness,settingthedirectionforhigh-qualitydevelopmentofthepropertymanagementsegmentinthe"14thFive-YearPlan"period.Third,multiplemeasuresweretakenatthesametimeandcoreoperatingcapabilitieswerecultivatedforindustrialecologicaloperationandothersegments.TheoperatingrevenuefrompropertyrentalthroughouttheyearwasRMB150million,accountingfor5.12%ofthetotaloperatingrevenue.Inrecentyears,theCompanyhastakenvariousstepstoaccelerateitstransformationandupgrading,exploredtheestablishmentofanincrementalsharingmechanismandintensifiedprojectexpansion.Besides,coreoperatingcapabilitieswerecultivatedinmultiplepathsandthetransformationofthecurrentsimpleleasingbusinessmodetoacommercialoperationmodewaspromoted,therebyboostingthedevelopmentandgrowthoftheindustrialecologicaloperationsegment.DuringtheReportingPeriod,ITCPropertyManagement,throughproactiveinitiatives,operatedinaself-operatedmode,firmlyprogressingincreatingthegroup'sindependentcommercialbrandandexploringmarket-orientedcommercialoperations.Theindustrialoperationsegmentcultivatedcoreoperationalcapabilitiesthroughmultiplepaths,suchasimprovingassetqualityandefficiencyandexploringtheestablishmentofincrementalsharingmechanisms.Withqualityimprovementandefficiencyenhancementasthecore,effortsareacceleratedtopromotethetransformationandupgradeofexistingassetsandrevitalizetheirutilization.Intermsofindustrialinvestmentattraction,thereareplanstoexpandtheindustrialalliancesystemduringtheyearandactivelydriveprojectinvestmentattractionefforts.(III)Productionsafetyin2023In2023,theCompanycontinuedtothoroughlyimplementGeneralSecretaryXiJinping'sseriesofimportantexpositionsandimportantinstructionsonproductionsafetyandemergencymanagement,co-ordinatedevelopmentandsafety,guardtheredlineofproductionsafety,andurgeallitsbusinessentitiestotakeonresponsibilityinthisrespect.TheCompany'sannualproductionsafetysituationremainedstableandorderly,withnoproductionsafetyliabilityaccidentsinvolvingseriousinjuriestopersonneloraboveorsignificanteconomiclosses,andsuccessfullycompletedtheCompany'sproductionsafetyobjectivesfor2023.Firstly,theCompanycomprehensivelyconveyedandimplementedthesafetyworkdeploymentofhigherauthorities.TheGroupanditsaffiliatedenterpriseshaveheldpartycommitteesandsafetycommitteesfornearly200timestolistentoreportsonworksafety,studyandsolveandcomprehensivelydeploymajormattersofworksafety.Secondly,theCompanyestablishedrulesandregulationsandadheredtosystemleadership.TheCompanyhasrevisedandreleasedthe"CompilationofSafetyProductionandOccupationalHealthManagementSystemofSZPRD"andthe"AwardandPunishmentSystemforSafetyProductionofSZPRD"andotherrulesandregulationstofurtherimprovethesafetymanagementsystem.Thirdly,theCompanycarriedoutin-depth
investigationofhiddensafetyhazardsandspecialrectificationactionsformajorhiddenaccidents.TheleadershipteamoftheGroupanditsaffiliatedenterprisesconducted892person-timein-depthinspections,andfoundatotalof25,922hiddensafetyhazards,ofwhich28,768havebeenrectified,witharectificationcompletionrateof96%.Fourthly,theCompanyfosteredasafetycultureandraisedsafetyawareness.TheGroupanditssubsidiariesorganised2,085trainingsessionswith36,100participants.Fifthly,theCompanycarriedoutemergencydrillsandstrengtheneditsemergencyrescuecapability.TheGroupanditssubsidiariesorganised985emergencydrillsofvarioustypes,withatotalof30,255participants.Throughrealdrillsandexercises,wetestedtheimplementabilityoftheenterpriseemergencyplan,andfurtherenhancedthelevelofstandardisationoftheenterprisepersonnel'soperationandemergencyrescuecapability.Sixthly,duringtheyear,anumberofsubsidiarieswereawardedhonoursforsafetyproduction;threesubsidiarieswereawarded4Alevelthroughstandardisationcertificatesforsafetystandardisation;anumberofprojectsintherealestatesectorwereawardedprovincial"DoubleExcellence"projects;andtheSZPRD-ChuanqishanprojectwasawardedtheShenzhenSafeandCivilisedAdvancedCommunity.Cumulativelandbank:
| Nameofproject/area | Sitearea（0,000㎡） | Floorarea（0,000㎡） | Floorareaavailablefordevelopment（0,000㎡） |
| LandinDanshui,HuiyangDistrict,HuizhouCity | 1.77 | 4.25 | 4.25 |
| LandinHongqiTown,HaikouCity | 15.80 | - | - |
| Total | 17.57 | 4.25 | 4.25 |
Developmentstatusofmajorprojects:
| City/region | Nameofproject | Location | Usage | TheCompany’sinterest | Timeforcommencementofconstruction | %developed | %thathascompletedconstruction | Sitearea（㎡） | Plannedfloorareawithplotratio（㎡） | FloorareathatcompletedconstructionintheCurrentPeriod（㎡） | Cumulativefloorareathathascompletedconstruction（㎡） | Estimatedtotalinvestment(RMB’0,000) | Cumulativeinvestment(RMB’0,000) |
| Shenzhen | Fuhuihuayuan | FutianDistrict | Residential | 100% | 2018.12 | Constructioncompleted | 100% | 4,274 | 33,430 | 0 | 43,522 | 91,133 | 77,396 |
| DongguanCity | SeaBayGarden | HumenTown | Residential | 100.00% | 2022.03 | Underconstruction | Themainbodyhasbeenroofed,andelectricalandmechanicalworksareclosingout | 51,687 | 113,713 | 0 | 0 | 321759 | 258,097 |
| Shenzhen | YutangShangfu | GuangmingDistrict | Residential | 100.00% | 2022.03 | Underconstruction | Themainbodyhasbeenroofed,finedecorationisgoingonandtheprojecthasbeenopenedforpre-sale | 14,901 | 81,960 | 0 | 0 | 265868 | 197,318 |
| Shenzhen | LanhuShidai | LonghuaDistr | Residential,industri | 69% | 2020.10 | Underconstruction | ThemainbodyofLot02#has | 68,298 | 433,640 | 0 | 0 | 840,000 | 507,001 |
| ict | al,commercialandapartment | reached46-50floors,themainbodyofLot03#hasreachedthe8thfloor,themainbodyofLot04#hasreachedthe20thfloor,andLot06#hasreachedthe-1to6floors,andPhaseIisworkingontheearthworkandpilefoundation. | |||||||||||
| Yangzhou | ShenyangDigitalTown | PingshanVillage | Residential,industrialandoffice | 67% | 2023.03 | Underconstruction | PhaseI,LotDisundergoingabovegroundmainconstruction | 231,612 | 370,258 | 0 | 0 | 252,911 | 77,307 |
Salesstatusofmajorprojects:
| City/region | Nameofproject | Location | Usage | TheCompany’sinterest | Floorareawithplotratio（㎡） | Floorareaavailableforsale（㎡） | Cumulativepre-sold/soldfloorarea（㎡） | Floorareapre-sold/soldintheCurrentPeriod（㎡） | Pre-sale/salesrevenuegenerateintheCurrentPeriod(RMB’0,000) | Cumulativesettledfloorarea(㎡) | FloorareasettledintheCurrentPeriod（㎡） | Pre-sale/salesrevenuesettledintheCurrentPeriod(RMB’0,000) |
| Shenzhen | GoldenCollar’sResortapartments | IntersectionofFutianSouthRoadandBinheRoadinFutianDistrict | Residential,studioapartmentsandcommercial | 100% | 133800.6 | 125231.07 | 121190.94 | 2121.15 | 19322.8 | 123127.44 | 4122.93 | 19160.94 |
| YangzhouCity | HupanYujingPhaseI | IntersectionofShouxihuRoadandHangouRoad | Residentialunits,shops,apartments,parkinggaragesandlots | 100% | 36141.28 | 48870.98 | 45121.49 | 2097.68 | 2075.98 | 45121.49 | 2097.68 | 1904.57 |
| YangzhouCity | HupanYujingPhaseII | IntersectionofShouxihuRoadandHangouRoad | Residentialunits,shops,apartments,parkinggaragesandlots | 100% | 56935.75 | 73121.96 | 70203.09 | 153.07 | 62.7926 | 70183.98 | 153.07 | 57.61 |
| DongguanCity | SonghuLangyuan | DalangTown,DongguanCity | Residential,commercial, | 100% | 147139.96 | 157911.56 | 149758.71 | 408 | 359 | 149757.84 | 408 | 341.79 |
| kindergarten,andparkingspace | ||||||||||||
| Shenzhen | YutangShangfu | NorthwestofthejunctionofSongbaiRoadandChanggangSecondRoad,YutangStreet,GuangmingDistrict,Shenzhen | Residential(includinghousingfortalents),commercial,andcommunityfoodmarket | 100% | 89,143.00 | 78,373.92 | 31,189.52 | 31,189.52 | 87,728.55 | 0 | 0 | 0 |
Rentalstatusofmajorprojects:
| Nameofproject | Location | Usage | TheCompany’sworkinginterest | Rentablearea（㎡） | Cumulativerentedarea（㎡） | Averageoccupancyrate |
| XiApartments(Longyuan) | Shenzhen | Apartmentsforlong-termrental | 100.00% | 3967.05 | 3967.05 | 100% |
| XiApartments(Longhua) | Shenzhen | Apartmentsforlong-termrental | 100.00% | 1609.42 | 1609.42 | 100% |
| XiApartments(Xinhu) | Shenzhen | Apartmentsforlong-termrental | 100.00% | 1589.60 | 1119.7 | 70.44% |
| FoodCourtintheInternationalTradeCenter | Shenzhen | Commercial | 100.00% | 4152.47 | 1586.1 | 38.20% |
| FuminComplex | Shenzhen | Commercial,apartments | 100.00% | 5900.19 | 4693.27 | 79.54% |
| TowerAofWenjinduPortBuilding | Shenzhen | Officebuilding | 75.00% | 5904.3 | 5644.3 | 95.6% |
| HaiwaiLianyiBuilding | Shenzhen | Commercialunitsandoffices | 75.00% | 6635.08 | 6375.08 | 96.08＆ |
| AnhuaBuilding | Shenzhen | Offices | 75.00% | 1414 | 1414 | 100% |
| PengfuBuilding | Shenzhen | Offices | 75.00% | 6494 | 6494 | 100% |
| JinfuBuilding | ShenzhenShenzhen | Commercial | 75.00% | 1652.7 | 1535.7 | 92.92% |
| JinfuBuilding | ShenzhenShenzhen | Commercial | 100.00% | 567.56 | 567.56 | 100% |
| FuxingGarden | Shenzhen | Residential/commercial | 75.00% | 5,787.22 | 5787.22 | 100% |
| FuxingGarden | Shenzhen | Commercial | 100.00% | 1417.15 | 1417.15 | 100% |
| PlantareainTangxiaTown,DongguanCity | DongguanCity | Plant | 75.00% | 21135.12 | 21135.12 | 100% |
| PacificBusinessBuilding | Shenzhen | Commercialunits/offices | 75.00% | 3149.03 | 2856.16 | 90.70% |
| PacificBusinessBuilding | Shenzhen | Commercialunits/offices | 15.00% | 14888.76 | 13691.95 | 91.96% |
| KangtiBuilding | Shenzhen | Commercialunits/offices | 75.00% | 2095.87 | 1925.47 | 91.87% |
| KangtiBuilding | Shenzhen | Commercialunits/offices | 15.00% | 1146.81 | 1146.81 | 100% |
| LyuhuaBuilding | Shenzhen | Commercialandresidential | 75.00% | 7106.95 | 6671.74 | 93.88% |
| ShopsonthegroundfloorofTower48inLianhuaNorthVillage | Shenzhen | Shops | 75.00% | 1000.34 | 1000.34 | 100% |
| HaonianhuaBuilding | Shenzhen | Apartmentsandcommercialunits | 100.00% | 1802.61 | 1760.53 | 97.67% |
| HaonianhuaBuilding | Shenzhen | Apartmentsandcommercialunits | 75.00% | 2277.9 | 2277.90 | 100% |
| KaifengGardeninShangmeilin | Shenzhen | Residential | 100.00% | 1302.65 | 824.42 | 63.29% |
| FuyuanIndustrialZone | Shenzhen | Plantarea | 75.00% | 47131.4 | 47131.4 | 100% |
| TongluIndustrialZone | Shenzhen | Plantarea | 100.00% | 74845.08 | 73088.67 | 97.65% |
| JianglingIndustrialZone | Shenzhen | Plantarea | 75.00% | 10396.64 | 10396.64 | 100% |
| Zone21 | Shenzhen | Commercial/offices | 75.00% | 9514.3 | 9438.7 | 99.21% |
| BaoliCommunity | Shenzhen | Residential | 75.00% | 9020.07 | 8044.39 | 89.18% |
| SonggangPlant | Shenzhen | Plantarea | 75.00% | 5700 | 5700 | 100% |
| LongbuPlant | Shenzhen | Plantarea | 75.00% | 7471.36 | 7471.36 | 100% |
| GongluBuildinginHuanggang | Shenzhen | Offices | 75.00% | 4599.72 | 4401.88 | 95.69% |
| YuetongComplex | Shenzhen | Offices | 75.00% | 3044 | 3044 | 100% |
| DepartmentStorePlaza | Shenzhen | Offices | 33% | 12751.15 | 12751.15 | 100% |
| SouthernSecuritiesBuilding | Shenzhen | Offices | 33% | 8809.8 | 6590.22 | 74.81% |
| Building409,SangdaIndustrialZone | Shenzhen | Plantarea | 33% | 3309.2 | 3309.2 | 100% |
| MianshuiStudioApartment | Shenzhen | Apartment | 33.00% | 3440.12 | 3440.12 | 100% |
| XiangfuBuilding | Shenzhen | Commercial | 33.00% | 3109.4 | 3109.4 | 100% |
Primarylanddevelopment:
□Applicable?NotapplicableFinancingchannels:
Unit:RMB
| Financingchannel | Endingbalanceoffinancings | Financingcostrange/averagefinancingcost | Maturitystructure | |||
| Within1year | 1-2years | 2-3years | Over3years | |||
| Bankloans | 4,700,312,585.87 | 4%-6% | 3,299,753,332.40 | 409,353,332.40 | 227,821,043.47 | 763,384,877.60 |
| Non-bankloans | 400,000,000.00 | 4%-6% | 400,000.00 | 400,000.00 | 400,000.00 | 398,800,000.00 |
| Total | 5,100,312,585.87 | 4%-6% | 3,300,153,332.40 | 409,753,332.40 | 228,221,043.47 | 1,162,184,877.60 |
Developmentstrategyandoperatingplanforthecomingyear:
In2024,theinternationalanddomesticsituationwasfraughtwithuncertainties,theeconomywasinaperiodofslowrecovery,andthetraditionalpropertymarketcontinuedtobeunderpressure.SZPRDwillcontinuetoactivelysearchforthestrategicbreakthroughdirection,comprehensivelyconnectwiththemajorstrategicorientationofthestate-ownedassetsystemandfirmlygraspthecoreprocessesofstockassetvaluemanagementandindustrialecologicaloperationservices.Relyingontheprincipleof"expandingthemainbusinessandmakingbreakthroughs",effortswillbedoubledtodevelopfourmajorbusinesses,i.e.,industry-cityspacedevelopment,propertymanagementservices,industrialecologicaloperationandmainbusinessecosysteminvestment,andguidehigh-qualitydevelopmentwithanewdevelopmentphilosophy.Intermsoflandreserve,theimportantwindowperiodoftherealestatemarketisseizedtoachieveexpansionandcapacityexpansionthroughmarketcompetitionandcapitaloperations.ThefocusisonpotentialeconomicdevelopmentareassuchastheGuangdong-HongKong-MacaoGreaterBayAreaandtheYangtzeRiverDelta.Projectsareactivelyfacilitatedthroughvariousmeanssuchasmarket-orientedbiddingandauctioning,industriallandacquisition,urbanrenewal,andprojectcooperation.Simultaneously,capitaloperationsareprudentlycarriedouttoacceleratemarketmergersandacquisitions,enablingtheCompanytoobtainmoreresourcesforsustainabledevelopment.Intermsofprojectdevelopment,theguidingprincipleof"seekingprogresswhilemaintainingstability,promotingstabilitythroughprogress,stabilitywithinitiative,andeffectivenessinprogress"isadheredto.Thefocusistightlycenteredonpreciseandcontinuouseffortsinthefouraspectsof"stabilizingcashflow,controllingcosts,expandingcapacity,andstrengtheningfoundations".ThedevelopmentandconstructionoftheYutangShangfuproject,LanhuShidaiproject,SeaBayGardenproject,andShenyangDigitalTownprojectareprudentlyadvanced.Effortsaremadetocontinuouslyenhancedevelopmentcapabilities,strengthenqualitycontrol,deepenleanmanagement,furtherexpandandstrengthentheoveralladvantagesofthegroup'srealestatesector,andactivelypromotestabilityinproductionandoperationswithpositiveresults.Intermsofsalesandinventoryturnover,themarketwindowperiodisseized,marketingtouchpointsarecontrolled,andfulleffortsaremadetoadvanceresidentialsalesintheYutangShangfuproject,LanhuShidaiproject,SeaBayGardenproject,andShenyangDigitalTownproject,withtheaimofachievingtheannualsalestargetsforthefinalphaseofhistoricalprojects.TheabovebusinessplanandbusinessobjectivesdonotrepresentthelistedCompany’sprofitforecastfor2024.Whetheritcanbeachieveddependsonvariousfactorsincludingchangesinmarketconditionsandtheeffortmadebythemanagementteam.Investorsmustpayspecialattentiontothatbecausethereexistsgreatuncertainty.Provisionofguaranteesforhomebuyersonbankmortgages:
?Applicable□Notapplicable
1)Asausualpracticeforrealestatedevelopers,theCompanyhasbeenprovidingguaranteesandsecuritydepositsforitshomebuyersontheirbankmortgages.Asat31December2023,securitydepositsforsuchoutstandingguaranteesamountedtoRMB1,133,604.61,whichwillbereturnedupontheexpiryoftheguarantees.
2)Asausualpracticeforrealestatedevelopers,theCompanyhasbeenprovidingguaranteesandsecuritydepositsforitshomebuyersontheirbankmortgages.Asat31December2023,outstandingguaranteesamountedtoRMB211,064,285.20,whichwillbereturnedupontheexpiryoftheguarantees.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 | None | None | N/A |
| Voluntaryinvestmententities | 1,353.00 | 33.82% | N/A | None | None | N/A |
Note:Sincethisisanongoingproject,thepeakoftheprojectfunds,cumulativeincomeanddisinvestmentareunknown.Fordetails,pleaserefertotherelevantannouncementsdisclosedbytheCompanyonwww.cninfo.com.cndated9November2019.IIICoreCompetitivenessAnalysisAdvantagesinbrandandculturalaccumulation:SZPRD,astate-ownedenterpriseinShenzhen,hasforgedanunparalleledlegacyofpioneeringdevelopmentoverthepastfourdecades.Thecompanyhascraftedadiversifieddevelopmentpatternwithrealestatedevelopmentattheforefront,accompaniedbyurbanrenewal,propertymanagement,assetoperation,andindustrialinvestment.Thebrandvalueandcomprehensivestrengthof"ShenzhenProperty,"imbuedwiththespiritofreformandopeningupininternationaltrade,havegarneredsignificantmarketrecognition.BornfromtheWorldTradeBuilding,thecompanyhasflourishedthroughreformandopeningup,coexistingandflourishingalongsidethemiraculouscityofShenzhen.Thecorporatecultureof"daringtobethefirstandstrivingfortransformation"intermingleswiththe"pioneeringspirit"ofsurmountingchallenges,providingguidanceinadvancingtheremarkableprogressofSZPRDfrom"Shenzhenspeed"to"Shenzhenquality."Market-orientedadvantages:Inaccordancewiththemarket-orientedpaceofasmallchangeinayearandabigchangeinthreeyears,theGroupcontinuestoinnovateinstitutionalmechanisms,deepeninternalreforms,andactivelybenchmarkwithindustrymodelsformarket-orientedoperation,whichsignificantlystimulatesthevitalityandmomentumoftheGroup'shigh-qualitydevelopment.Inrecentyears,theLanhuTimesprojectpioneeredthecooperationbetweenstate-ownedenterprisesandprivateenterprisesindevelopingurbanrenewalprojects,markingthefirstfullymarket-orientedurbanrenewalprojectinthehistoryoftheGroup,andtooktheleadinimplementingthefollow-oninvestmentsystemforurbanrenewalprojectsinthecity'sstate-ownedcapitalsystem.Withregardtothepropertymanagementsegment,theCompanyactivelyexploresprojectsoutsideGuangdongProvince,andenhancesmarket-orientedexpansion,whichhaseffectivelyincreasedtheCompany’scompetitivenessinChina’spropertymanagementmarket.TheCompanyhassimultaneouslyestablishedamulti-levelincentiveandrestraintmechanismincludingfollow-oninvestmentandlong-termincentives,allocatingresources,selectingtalentsandassessingrewardsandpunishmentsaccordingtothemarket-orientedapproach.Wholeindustrychainadvantage:Overtheyears,theGrouphasformedtheadvantageofthewholeindustrychaininthewholeprocessofprojectacquisition,developmentandconstruction,investmentandsales,leasingmanagementandpropertymanagement,especiallyintheareaofhigh-endparkbasicservicesandpropertymanagementqualityservices,whichhasformedobvioussegmentationadvantagesandforgedthecorecompetitiveabilityoftheCompany.City-industryintegrationadvantage:TheCompany'sspacedevelopmentdivisionendeavorstodevelopaabundanceofbusinesstypes,encompassingresidential,high-endapartments,officebuildings,andindustrialparks.FromtheearliesturbancomplexofShenzhenInternationalTradeCenterBuilding,HuanggangPortareadevelopmenttothedevelopmentandoperationoflargecity-industrycomplexprojectofLanhuTimesproject,theGroup'sadvantagesofcity-industrycomplexdevelopmentproductshavebeenhighlighted,andwiththeimplementationofaseriesofurbanrenewalprojectsandindustrialprojects,theadvantagesofcity-industrycomplexwillbefurtherconsolidatedandenhanced.AdvantagesasaholdingsubsidiaryofaFortuneGlobal500company:ShenzhenInvestmentHoldingsCo.,Ltd.,thecontrollingshareholderoftheCompany,hasbeencommittedtobuildingaworld-leadingstate-ownedcapitalinvestmentandoperationcompanyandafinancialholdinggroup.Ithasnowdevelopedintoastate-ownedcapitalinvestmentcompanyfocusingonfintech,technologyparks,infantindustriesandhigh-endservices.In2023,itranked391stintheFortuneGlobal500withoperatingrevenueofapproximatelyRMB290billion.Relyingonthecontrollingshareholder'sadvantagesinthewholeindustrial
chainoftechnologyparks,theCompanycarriesoutactivetransformationandupgradingandconcentratesonthedevelopmentandconstructionofindustry-citycomplexes,heraldingabroaderdevelopmentprospect.IVCoreBusinessAnalysis
1.OverviewSeecontentsundertheheading“IIPrincipalActivityoftheCompanyintheReportingPeriod”abovein“ManagementDiscussionandAnalysis”.
2.RevenueandCostAnalysis
(1)BreakdownofOperatingRevenue
Unit:RMB
| 2023 | 2022 | Change(%) | |||
| Operatingrevenue | As%oftotaloperatingrevenue(%) | Operatingrevenue | As%oftotaloperatingrevenue(%) | ||
| Total | 2,965,117,025.04 | 100% | 3,708,669,046.85 | 100% | -20.05% |
| Byoperatingdivision | |||||
| Propertydevelopment | 1,234,537,188.62 | 41.64% | 1,913,674,526.31 | 51.60% | -35.49% |
| Propertymanagement | 1,578,719,323.98 | 53.24% | 1,666,961,878.32 | 44.95% | -5.29% |
| Propertyrental | 151,860,512.44 | 5.12% | 128,032,642.22 | 3.45% | 18.61% |
| Byproductcategory | |||||
| Propertydevelopment | 1,234,537,188.62 | 41.64% | 1,913,674,526.31 | 51.60% | -35.49% |
| Propertymanagement | 1,578,719,323.98 | 53.24% | 1,666,961,878.32 | 44.95% | -5.29% |
| Propertyrental | 151,860,512.44 | 5.12% | 128,032,642.22 | 3.45% | 18.61% |
| Byoperatingsegment | |||||
| Shenzhen | 2,569,038,060.46 | 86.64% | 3,122,667,234.12 | 84.20% | -17.73% |
| Other | 396,078,964.58 | 13.36% | 586,001,812.73 | 15.80% | -32.41% |
| Bymarketingmodel | |||||
(2)OperatingDivision,ProductCategory,OperatingSegmentorMarketingModelContributingover10%ofOperatingRevenueorOperatingProfit?Applicable□Notapplicable
Unit:RMB
| Operatingrevenue | Costofsales | Grossprofitmargin | YoYchangeinoperatingrevenue(%) | YoYchangeincostofsales(%) | YoYchangeingrossprofitmargin(%) | |
| Byoperatingdivision | ||||||
| Propertydevelopment | 1,234,537,188.6 | 818,496,053.38 | 33.70% | -35.49% | 88.84% | -43.65% |
| 2 | ||||||
| Propertymanagement | 1,578,719,323.98 | 1,316,777,091.32 | 16.59% | -5.29% | -8.65% | 3.07% |
| Byproductcategory | ||||||
| Propertydevelopment | 1,234,537,188.62 | 818,496,053.38 | 33.70% | -35.49% | 88.84% | -43.65% |
| Propertymanagement | 1,578,719,323.98 | 1,316,777,091.32 | 16.59% | -5.29% | -8.65% | 3.07% |
| Byoperatingsegment | ||||||
| Bymarketingmodel | ||||||
CorebusinessdataoftheprioryearrestatedaccordingtothechangedstatisticalcaliberfortheReportingPeriod:
□Applicable?Notapplicable
(3)WhetherRevenuefromPhysicalSalesIsHigherthanServiceRevenue
□Yes?No
(4)ExecutionProgressofMajorSignedSalesandPurchaseContractsintheReportingPeriod
□Applicable?Notapplicable
(5)BreakdownofCostofSalesByoperatingdivision
Unit:RMB
| Operatingdivision | Item | 2023 | 2022 | Change(%) | ||
| Costofsales | As%oftotalcostofsales(%) | Costofsales | As%oftotalcostofsales(%) | |||
| Propertydevelopment | 818,496,053.38 | 36.65% | 433,443,568.87 | 21.90% | 14.75% | |
| Propertymanagement | 1,316,777,091.32 | 58.95% | 1,441,477,771.44 | 72.85% | -13.90% | |
| Propertyrental | 98,252,237.79 | 4.40% | 103,856,280.91 | 5.25% | -0.85% | |
Note:
N/A
(6)ChangesintheScopeofConsolidatedFinancialStatementsfortheReportingPeriod?Yes□NoSee“IXChangestotheConsolidationScope”in“PartXFinancialStatements”inthisReport.
(7)MajorChangestotheBusinessScopeorProductorServiceRangeintheReportingPeriod
□Applicable?Notapplicable
(8)MajorCustomersandSuppliers
Majorcustomers:
| Totalsalestotopfivecustomers(RMB) | 1,166,098,513.59 |
| Totalsalestotopfivecustomersas%oftotalsalesoftheReportingPeriod(%) | 39.32% |
| Totalsalestorelatedpartiesamongtopfivecustomersas%oftotalsalesoftheReportingPeriod(%) | 4.01% |
Informationabouttopfivecustomers:
| No. | Customer | SalesrevenuecontributedfortheReportingPeriod(RMB) | As%oftotalsalesrevenue(%) |
| 1 | Corporation1 | 977,069,378.47 | 32.95% |
| 2 | Corporation2 | 119,090,512.11 | 4.01% |
| 3 | Corporation3 | 29,159,908.84 | 0.98% |
| 4 | Corporation4 | 22,426,604.08 | 0.76% |
| 5 | Corporation5 | 18,352,110.09 | 0.62% |
| Total | -- | 1,166,098,513.59 | 39.32% |
Otherinformationaboutmajorcustomers:
?Applicable□NotapplicableCorporation2andtheCompanyareundercommoncontrol.Majorsuppliers:
| Totalpurchasesfromtopfivesuppliers(RMB) | 988,434,400.69 |
| Totalpurchasesfromtopfivesuppliersas%oftotalpurchasesoftheReportingPeriod(%) | 61.79% |
| Totalpurchasesfromrelatedpartiesamongtopfivesuppliersas%oftotalpurchasesoftheReportingPeriod(%) | 3.91% |
Informationabouttopfivesuppliers:
| No. | Supplier | PurchaseintheReportingPeriod(RMB) | As%oftotalpurchases(%) |
| 1 | ChinaConstructionThirdBureauFirstEngineeringCo.,Ltd. | 826,670,146.63 | 51.68% |
| 2 | ShenzhenBayTechnologyDevelopmentCo.,Ltd. | 62,480,975.10 | 3.91% |
| 3 | YangzhouYong'anElectricalInstallationCo.,Ltd. | 45,838,602.49 | 2.87% |
| 4 | ShenzhenJinggongArchitecturalDecorationGroupCo.,Ltd. | 26,909,176.47 | 1.68% |
| 5 | ShenzhenShekouSecurityServiceCo.,Ltd. | 26,535,500.00 | 1.66% |
| Total | -- | 988,434,400.69 | 61.79% |
Otherinformationaboutmajorsuppliers:
?Applicable□Notapplicable
ShenzhenBayTechnologyDevelopmentCo.,Ltd.isawholly-ownedsubsidiaryoftheCompany’scontrollingshareholderShenzhenInvestmentHoldingsCo.,Ltd.Exceptforthat,noneoftheotherfoursuppliersisarelatedpartyoftheCompany.
3.Expense
Unit:RMB
| 2023 | 2022 | Change(%) | Reasonforanysignificantchange | |
| Sellingexpenses | 46,757,158.57 | 53,541,997.78 | -12.67% | Decreaseincommissionspaidforsalesagents |
| Administrativeexpenses | 310,578,375.15 | 329,991,655.74 | -5.88% | |
| Financecosts | 43,846,029.30 | 50,571,183.83 | -13.30% | Increaseininterestexpenses |
| R&Dexpenses | 4,133,484.37 | 3,244,129.11 | 27.41% | Increaseinremunerationexpenses |
4.R&DInvestments
?Applicable□Notapplicable
| MajorR&Dprogram | Purpose | Progress | Objectives | ExpectedimpactontheCompany |
| SmartParkVisualizationDisplayPlatform[referredtoas:K-BI] | Developnewmodulestoassistnon-professionaldevelopmentengineersinquicklyachievingvisuallyappealingandpracticalbigdatavisualizationeffects,andmeetvarioususagedemandsinscenariossuchasdailysupervisionofpersonnelandobjects,decisionsupport,andcommanddispatch. | Delivered | ThisproductoffersaWYSIWYG(WhatYouSeeIsWhatYouGet)visualdesigntoolandawiderangeofvisualizationcomponenttemplatestoassistnon-professionaldevelopmentengineersinquicklyachievingvisuallyappealingandpracticalbigdatavisualizationeffects,andmeetvarioususagedemandsinscenariossuchasdailysupervisionofpersonnelandobjects,decisionsupport,andcommanddispatch. | Toincreaseproductsuperiorityandmarketcompetitiveness |
| IntelligentEnergyManagementSystem[referredtoas:FMS-EMS] | Developaninformationsystemtoassistrealestateandfacilityownersandusersinachievingenergyefficiency,reducingconsumption,andpromotingenvironmentalprotectiontosupporttheachievementofenterpriseESGgoals. | Delivered | Byadoptinga"cloud-edge-end"architectureandintegratingtechnologiessuchasIoT,bigdata,GIS,and3Dvisualization,energydataiscollected,monitored,processed,andanalyzedonline.Inconjunctionwith"dualcarbonrequirements,"calculationsandmonitoringareconductedagainststandardstoassistrealestateandfacilityownersandusersinachievingenergyefficiency,consumptionreduction,andenvironmentalprotection,tosupporttheattainmentofenterpriseESGgoals. | TointroducenewrevenuestreamsfortheCompany |
| SmartParkIoTPlatform[referredto | Provideassetownersandoperatorswitha | Delivered | Thebusinessarchitecturesupportsflexibleconfigurations | Toincreaseproduct |
| as:K-IOT] | comprehensivesolutionintegratingpowerfuloperationandmaintenancetools,management,andintelligentdecision-makingcapabilities. | forvariousscenarios,takingintoaccountrequirementsrelatedtoprojectsandorganizations,rolesandpermissions,andoperationsmanagement,aswellastheneedforcustomworkflows,customworkstandards,customreports,customalertmanagement,andcustomizableworkorderfields.Thetechnologyarchitectureconsidersrequirementssuchastechnologicalsustainability,security,reliability,performance,capacity,scalability,andmobiletechnology. | superiorityandmarketcompetitiveness | |
| SubleaseSupervisionSystem | Developaninformationsystemforregulatingsubleasingandsublettingactivitiesinthehousingrentalmarket. | Delivered | Thesystemcollects,manages,andanalyzeshousingrental-relateddatatomonitorandcontrolsubleasingandsublettingactivitiesintherentalmarket,enhancingthestandardizationandtransparencyoftheleasingmarket,protectingtherightsofallpartiesinvolvedinrenting,reducingrisksanddisputesassociatedwithsubleasingandsubletting,andimprovingtheefficiencyandcredibilityoftherentalmarket. | ExpandtheCompany'smarketscope |
| FacilityManagementSystem[referredtoas:FMS] | Enhancesupportforflexibleconfigurationsacrossvariousscenarios,includingfunctionsforIoTintegration,operationalmonitoring,maintenanceworkmanagement,basicsettings,intelligentanalytics,toachievedigitaloperationalmanagementofequipmentandfacilities. | Delivered | Enhancesupportforflexibleconfigurationsacrossvariousscenariostobetterfacilitatecomprehensivefacilityequipmentmanagementactivitiesthroughouttheentirelifecycleofabuilding,includingfullcoverageofhandoverandmanagementtransfer(customizedfeature),operation,maintenance,repair,renovation,anddisposalprocesses.SupportIoTintegratedoperationalmonitoring,maintenanceworkmanagement,basicsettings,intelligentanalytics,andotherfunctions. | Strengthensupportforflexibleconfigurationstoadvancecomprehensiveoperationalanddigitalmanagementfromanall-encompassingperspectiveinvariousscenarios,deliveringenhancedvalue-addedservicestocustomersandofferingrobustsupportforfuturemarketexpansion. |
DetailsaboutR&Dpersonnel:
| 2023 | 2022 | Change(%) | |
| NumberofR&Dpersonnel | 38 | 37 | 2.70% |
| R&Dpersonnelas%oftotalemployees | 0.43% | 0.40% | 0.03% |
| Educationalbackground | |||
| Bachelor’sdegree | 28 | 23 | 21.74% |
| Master’sdegree | 2 | 4 | -50.00% |
| Juniorcollege | 8 | 10 | -20.00% |
| Agestructure | |||
| Below30 | 27 | 24 | 12.50% |
| 30~40 | 7 | 11 | -36.36% |
| Over40 | 4 | 2 | 100.00% |
DetailsaboutR&Dinvestments:
| 2023 | 2022 | Change(%) | |
| R&Dinvestments(RMB) | 4,133,484.37 | 3,244,129.11 | 27.41% |
| R&Dinvestmentsas%ofoperatingrevenue | 0.14% | 0.09% | 0.05% |
| CapitalizedR&Dinvestments(RMB) | 0.00 | 0.00 | |
| CapitalizedR&Dinvestmentsas%oftotalR&Dinvestments | 0.00% | 0.00% |
ReasonforanysignificantchangetothecompositionofR&Dpersonnelandimpact:
□Applicable?NotapplicableReasonsforanysignificantYoYchangeinthepercentageofR&Dinvestmentsinoperatingrevenue:
□Applicable?NotapplicableReasonforanysharpvariationinthepercentageofcapitalizedR&Dinvestmentsandrationale:
□Applicable?Notapplicable
5.CashFlows
Unit:RMB
| Item | 2023 | 2022 | Change(%) |
| Subtotalofcashgeneratedfromoperatingactivities | 3,509,206,475.96 | 4,526,054,341.31 | -22.47% |
| Subtotalofcashusedinoperatingactivities | 3,773,299,460.29 | 4,420,821,237.45 | -14.65% |
| Netcashgeneratedfrom/usedinoperatingactivities | -264,092,984.33 | 105,233,103.86 | -350.30% |
| Subtotalofcashgeneratedfrominvestingactivities | 634,734,196.73 | 197,490,121.81 | 221.40% |
| Subtotalofcashusedininvestingactivities | 7,641,999.39 | 45,114,342.34 | -83.06% |
| Netcashgeneratedfrom/usedininvestingactivities | 627,092,197.34 | 152,375,779.47 | 311.54% |
| Subtotalofcashgeneratedfromfinancingactivities | 1,484,580,254.47 | 303,349,674.44 | 389.40% |
| Subtotalofcashusedinfinancingactivities | 624,251,511.63 | 963,797,633.48 | -35.23 |
| Netcashgeneratedfrom/usedinfinancingactivities | 860,328,742.84 | -660,447,959.04 | -230.16% |
| Netincreaseincashandcashequivalents | 1,223,445,277.64 | -398,048,377.77 | -407.36% |
Explanationofwhyanyofthedataabovevariessignificantly:
?Applicable□Notapplicable①Cashgeneratedfromoperatingactivitiesdecreasedyearonyear,primarilydrivenbythedecreasedpropertysalesrevenueintheReportingPeriod.
②Cashgeneratedfrominvestingactivitiesincreasedyearonyear,primarilydrivenbythereceiptofpaymentforequitytransferintheReportingPeriod.
③Cashusedininvestingactivitiesdecreasedyearonyear,primarilydrivenbythepaymentforinvestmentlastyear.④Cashgeneratedfromfinancingactivitiesincreasedyearonyear,primarilydrivenbynewbankborrowingsintheReportingPeriod.
⑤Cashusedinfinancingactivitiesdecreasedyearonyear,primarilydrivenbythepaymentforanequityacquisitioninvolvingentitiesundercommoncontrollastyear.ReasonforanybigdifferencebetweenthenetoperatingcashflowandthenetprofitforthisReportingPeriod:
?Applicable□NotapplicableFortheReportingPeriod,netcashgeneratedfromoperatingactivitiesstoodatRMB-264,092,984.33,representingabigdifferencefromthenetprofitofRMB449,858,861.48,primarilydrivenbytheincreaseddevelopmentcostsintheReportingPeriod.VAnalysisofNon-CoreBusinesses?Applicable□Notapplicable
Unit:RMB
| Amount | As%oftotalprofit | Mainsource/reason | Recurrentornot | |
| Returnoninvestment | 705,759,652.36 | 99.86% | Incomefromequitytransfer | Yes(exceptforequitytransferincome) |
| Gain/lossonchangesinfairvalue | 0.00 | 0.00% | Not | |
| Assetimpairments | -212,173,623.03 | -30.02% | Inventoryvaluationallowances | Not |
| Non-operatingincome | 3,604,677.09 | 0.51% | Confiscationofsecuritydeposits | Not |
| Non-operatingexpense | 6,504,504.20 | 0.92% | Paymentsforliquidateddamagesandfines | Not |
| Creditimpairmentloss | -19,844,952.87 | -2.81% | Allowancesfordoubtfulaccounts | Not |
VIAnalysisofAssetsandLiabilities
1.SignificantChangesinAssetComposition
Unit:RMB
| 31December2023 | 1January2023 | Changeinpercentage(%) | Reasonforanysignificantchange | |||
| Amount | As%oftotalassets | Amount | As%oftotalassets | |||
| Monetaryassets | 2,748,798,476.72 | 16.18% | 1,517,528,893.83 | 9.59% | 6.59% | Newbankloan |
| Accountsreceivable | 502,806,453.88 | 2.96% | 419,933,915.30 | 2.65% | 0.31% | |
| Contractassets | 844,485.57 | 0.00% | 1,094,632.90 | 0.01% | -0.01% | |
| Inventories | 11,098,209,095.74 | 65.33% | 10,975,334,223.37 | 69.36% | -4.03% | Increaseddevelopmentcosts |
| Investmentproperty | 386,810,800.47 | 2.28% | 405,762,739.18 | 2.56% | -0.28% | |
| Long-termequityinvestments | 84,057,750.55 | 0.49% | 79,781,437.31 | 0.50% | -0.01% | Increasedreturnsfromjointventures |
| Fixedassets | 66,436,408.90 | 0.39% | 82,745,172.12 | 0.52% | -0.13% | |
| Constructioninprogress | 0.00% | 0.00% | 0.00% | |||
| Right-of-useassets | 23,516,796.22 | 0.14% | 70,168,415.65 | 0.44% | -0.30% | Earlyterminationoftheleasedassets |
| Short-termborrowings | 230,915,000.00 | 1.36% | 0.00% | 1.36% | Newbankloan | |
| Contractliabilities | 820,424,953.42 | 4.83% | 920,828,040.81 | 5.82% | -0.99% | Operatingrevenuecarryforwards |
| Long-termborrowings | 1,399,889,274.47 | 8.24% | 3,618,782,344.00 | 22.87% | -14.63% | Newbankloan |
| Leaseliabilities | 10,571,092.27 | 0.06% | 77,963,283.55 | 0.49% | -0.43% | Earlyterminationoftheleasedassets |
| Prepayments | 11,983,086.35 | 0.07% | 100,341,806.56 | 0.63% | -0.56% | Transferofprepaidlandpremiumstodevelopmentcosts |
| Otherreceivables | 624,394,372.82 | 3.68% | 639,903,523.33 | 4.04% | -0.36% | Recoveryofcertaincurrentaccountsandincreasedallowancesfordoubtfulaccounts |
| Long-termreceivables | 0.00 | 0.00% | 22,651,454.07 | 0.14% | -0.14% | Terminationoffinancinglease |
| Deferredincometax | 1,276,440,386.83 | 7.51% | 1,407,551,347.20 | 8.89% | -1.38% | Reversalofdeductible |
| assets | losses | |||||
| Accountspayable | 662,869,059.59 | 3.90% | 608,283,388.52 | 3.84% | 0.06% | Increasedconstructionpayables |
| Otherpayables | 1,217,303,294.25 | 7.17% | 1,515,085,832.45 | 9.57% | -2.40% | Decreasedcurrentaccounts |
| Currentportionofnon-currentliabilities | 3,092,324,853.07 | 18.20% | 218,858,766.82 | 1.38% | 16.82% | Decreasedcurrentportionoflong-termborrowings |
| Othercurrentliabilities | 68,373,661.13 | 0.40% | 83,991,786.83 | 0.53% | -0.13% | Decreasedsalestaxtobetransferred |
| Long-termpayables | 400,105,655.56 | 2.36% | 0.00 | 0.00% | 2.36% | Increasedsaleandleasebackfinancing |
Indicatewhetheroverseasassetsaccountforahigherproportionoftotalassets.
□Applicable?Notapplicable
2.AssetsandLiabilitiesatFairValue?Applicable□Notapplicable
Unit:RMB
| Item | Beginningamount | Gain/lossonfair-valuechangesintheReportingPeriod | Cumulativefair-valuechangeschargedtoequity | ImpairmentallowancefortheReportingPeriod | PurchasedintheReportingPeriod | SoldintheReportingPeriod | Otherchanges | Endingamount |
| Financialassets | ||||||||
| 4.Investmentsinotherequityinstruments | 887,838.64 | -261,743.15 | 10,830.71 | 636,926.20 | ||||
| Totaloftheabove | 887,838.64 | -261,743.15 | 10,830.71 | 636,926.20 | ||||
| Financialliabilities | 0.00 | 0.00 | ||||||
Contentsofotherchanges:
Otherchangeswereresultedfromexchangeratemovements.SignificantchangestothemeasurementattributesofthemajorassetsintheReportingPeriod:
□Yes?No
3.RestrictedAssetRightsasatthePeriod-End
| Item | Endingcarryingvalue | Reasonforrestriction |
| Monetaryassets | 15,659,341.60 | Notes1-10 |
| Total | 15,659,341.60 |
Note1:Intermsofmonetaryassetswithrestrictedrighttouseattheperiod-end,therewasabankguaranteemoneyofRMB2,200,000.00ofthesubsidiarycompanyShenzhenShenfubaoPropertyDevelopmentCo.,Ltd.Note2:Intermsofmonetaryassetswithrestrictedrighttouseattheperiod-end,therewasRMB3,000,000.00ofthesubsidiarycompanyShenzhenFacilityManagementCommunityTechnologyCo.,Ltd.frozenbyacourtoflawduetopre-litigationpreservationforcontractdisputes.Note3:Intermsofmonetaryassetswithrestrictedrighttouseattheperiod-end,therewasaloandepositofRMB1,133,604.61providedasmortgageloanguaranteesforcommercialhousingpurchasersandpaidbytheCompanyasarealestatedeveloperaccordingtorealestatebusinesspractices.Note4:Intermsofmonetaryassetswithrestrictedrighttouseattheperiod-end,therewasRMB8,644,166.67ofinterestontermdepositsaccruedattheperiod-end.Note5:Intermsofmonetaryassetswithrestrictedrighttouseattheperiod-end,therewasRMB90,000.00ofthesubsidiarySZPRDXuzhouDapengRealEstateDevelopmentCo.,Ltd.frozenduetohousesalecontractdisputecase.Note6:Intermsofmonetaryassetswithrestrictedrighttouseattheperiod-end,therewasRMB129,021.18intheaccountofthesubsidiarycompanyShenzhenPropertyEngineeringandConstructionSupervisionCo.,Ltd.Theaccountwasinareceiving-onlystatusbecausethelegalpersonchangeformalitieshadnotbeencompletedbytheperiod-end.Note7:Intermsofmonetaryassetswithrestrictedrighttouseattheperiod-end,therewasRMB99,103.58duetothefactthattheinformationofshareholdersretainedinthebankbythesubsidiaryShenzhenYufaIndustryCo.,Ltd.wasinconsistentwiththeinformationofindustrialandcommercialshareholdersintheAdministrationforMarketRegulation,andthebankaccountwasfrozen.Note8:Intermsofmonetaryassetswithrestrictedrighttouseattheperiod-end,therewasaPOSsecuritydepositofRMB1,500.00ofsubsidiaryShandongShenguomaoRealEstateManagementCo.,Ltd.Note9:Intermsofmonetaryassetswithrestrictedrighttouseattheperiod-end,therewasRMB1,000.00whichwasthedepositforPOSmachineofJiangxiBranchofShenzhenShenfubaoPropertyDevelopmentCo.,Ltd.,asubsidiary.Note10:Intermsofmonetaryassetswithrestrictedrighttouseattheperiod-end,therewasRMB18,570.85whichwererestrictedfundsfrozenduelaborarbitrationcaseofthesubsidiaryShenzhenFreeTradeZoneSecurityServiceCo.,Ltd.
VIIInvestmentsMade
1.TotalInvestmentAmount
□Applicable?Notapplicable
2.MajorEquityInvestmentsMadeintheReportingPeriod
□Applicable?Notapplicable
3.MajorNon-EquityInvestmentsOngoingintheReportingPeriod
□Applicable?Notapplicable
4.FinancialInvestments
(1)SecuritiesInvestments?Applicable□Notapplicable
Unit:RMB
| Varietyofsecurity | Codeofsecurity | Nameofsecurity | Initialinvestmentcost | Accountingmeasurementmethod | Beginningcarryingvalue | Gain/LossonfairvaluechangesinReportingPeriod | Accumulatedfairvaluechangeschargedtoequity | PurchasedinReportingPeriod | SoldinReportingPeriod | Gain/lossinReportingPeriod | Endingcarryingvalue | Accountingtitle | Sourceofinvestmentfunds |
| Domestic/Foreignstock | 400016、420016 | GintianA,GintianB | 3,565,856.06 | Fairvaluemethod | 887,838.64 | -261,743.15 | 10,830.71 | 636,926.20 | Investmentsinotherequityinstruments | ObtainedinGintian’sdebtrestructuring | |||
| Total | 3,565,856.06 | -- | 887,838.64 | 0.00 | -261,743.15 | 0.00 | 0.00 | 10,830.71 | 636,926.20 | -- | -- | ||
(2)InvestmentsinDerivativeFinancialInstruments
□Applicable?NotapplicableNosuchcasesintheReportingPeriod.
5.UseofFundsRaised
□Applicable?NotapplicableNosuchcasesintheReportingPeriod.
VIIISaleofMajorAssetsandEquityInterests
1.SaleofMajorAssets
□Applicable?NotapplicableNosuchcasesintheReportingPeriod.
2.SaleofMajorEquityInvestments
?Applicable□Notapplicable
| Transactionparty | Equitysold | Dateofsale | Transactionprice(RMB’0,000) | NetprofitcontributedtotheCompanyfromtheperiod- | EffectontheCompany | Ratioofthenetprofitcontributedby | Pricingprinciple | Related-partytransactionornot | Relationshipbetweenthetransaction | Ownershipoftheequityinvolvedhas | Creditor’srightsandliabilities | Executedasscheduledornot;ifnot, | Disclosuredate |
| begintothedateofsale(RMB’0,000) | thesaleoftheequitytotheCompany’stotalprofit(%) | partyandtheCompany | beenalltransferredornot | involvedhavebeenalltransferredornot | givereasonsandmeasurestaken | ||||||||
| ChinaUnionHoldingsLtd. | ShenzhenJinghengtaiRealEstateDevelopmentCo.,Ltd. | 22December2023 | 83,500 | 62,801.21 | Successfullyresolvedhistoricalproblemsandrealizedthepreservationandenhancementofthevalueofstate-ownedassets. | 135.34% | Marketvaluation | No | Non-relatedparty | Yes | Yes | 26December2023 | Fordetails,seetheAnnouncementontheProgressofthePublicListingTransferof100%EquityInterestsinWholly-ownedSubsidiaryShenzhenJinghengtaiRealEstateDevelopmentCo.,Ltd.andCompletionoftheRegistrationofChangesinIndustryandCommerceonwww.cninfo.com.cn(AnnouncementNo.:2023-39). |
IXPrincipalSubsidiariesandJointStockCompanies
?Applicable□NotapplicablePrincipalsubsidiariesandjointstockcompanieswithanover10%effectontheCompany’snetprofit
Unit:RMB
| Name | RelationshipwiththeCompany | Principalactivity | Registeredcapital | Totalassets | Netassets | Operatingrevenue | Operatingprofit | Netprofit |
| ShenzhenHuangchengRealEstateCo.,Ltd. | Subsidiary | Developmentandsalesofrealestate | 30,000,000.00 | 7,923,999,367.48 | 3,005,339,544.18 | 215,220,323.33 | 45,520,508.59 | 32,969,496.22 |
| ShenzhenInternationalTradeCenterPropertyManagementCo.,Ltd. | Subsidiary | Propertymanagementservices | 20,000,000.00 | 1,859,543,115.90 | 380,027,860.65 | 1,575,002,528.77 | 101,844,913.39 | 67,786,715.32 |
SubsidiariesobtainedordisposedintheReportingPeriod?Applicable□Notapplicable
| Subsidiary | HowsubsidiarywasobtainedordisposedintheReportingPeriod | Effectsonoveralloperationsandoperatingperformance |
| ShenzhenJinghengtaiRealEstateDevelopmentCo.,Ltd. | Equitytransfer | Netprofitcontributedis628,012,100 |
Notestotheprincipalsubsidiariesandjointstockcompanies:
XStructuredBodiesControlledbytheCompany
□Applicable?Notapplicable
XIProspects
(I)IndustryOverviewandTrendsSee“IIndustryOverviewfortheReportingPeriod”in“PartIIIManagementDiscussionandAnalysis”.(II)TheCompany’sDevelopmentStrategyAsthetraditionalrealestatemarket’sdevelopmentdeclinesonthewhole,ShenzhenProperties&ResourcesDevelopment(Group)Ltd.specializedinthetraditionalrealestatewillbeconfrontedwiththeextremelysevereindustrialsituation.Inthiscontext,theCompanyputforwardthe“12345”overalldevelopmentideaof“1Vision+2MajorDivisions+3DrivingFactors+4Businesses+5Value-addedServices”.Inotherwords,theCompanywilltakeeffectivemeasureswiththefocuson“industrialandurbanspaceassetmanagement”and“spacedigitalecosystemoperation”todevelopfourmajorbusinessesincludingindustrialandurbanspacedevelopment,industrialecologicaloperation,propertymanagementservices,andmainecologicalinvestmentthroughexpandingthemainbusinessandmakingbreakthroughs.Meanwhile,theCompanywillrealizerapiddeploymentandintegrationoffivemajorvalue-addedservicesincludinghigh-endconsultingservices,customizedhousekeeperservices,intelligentoperationplatform,datatappingandcommercialecosystemintegration.BaseonShenzhenwithscientificandtechnologicalinnovationastheprimarydrivingforce,theCompanywillincludeGuangdong,HongKongandMacaometropolitanareaandsurroundingareastomaximizetheleverageofcapitaltobuildadoortypeintelligentmanagementandcontrolserviceplatformwithsmartsocietybasicfunctions,aimingtobuild“China’sleadingintelligentoperatorofindustrialandurbanspace”.Inaccordancewiththree-stepstrategicimplementationrouteof“strengtheningbases,brinkbreakthrough,andfocusonleading”,theCompanywillseektransformationandupgradinginthedevelopmentbaseonthecurrentdevelopmentconditions,andpromoteincrementaldevelopmentinthetransformationtobuilduniquedevelopmentadvantagesandcreateanewpatternofinnovationanddevelopmentoftheCompany.(III)Businessplanfor2024In2023,amidstthecontinuedglobaleconomicdownturnandthechallengingscenarioofsimultaneousdeclineinvolumeandpricesinthedomesticrealestatemarket,theGroup'smanagementteamremainedsteadfastinupholdingthecomprehensiveleadershipoftheParty,maintainedstrategicresilience,rigorouslyimplementeddecisionsandarrangementsoftheBoardofDirectorsandthePartyCommittee,pursuedinnovation,tackleddifficulties,andconcentratedonkeytasks,resultinginsteadyprogressacrossvariousbusinessoperations.Throughouttheyear,theGroupdidnotsufferanymaterialsafetyincidentsormaterialriskstabilitymaintenanceevents,showingapositiveandpromisingopening.In2024,theGroupcontinuestoadheretotheworkingprincipleof"seekingprogresswhilemaintainingstability,promotingstabilitythroughprogress,stabilitywithinitiative,andeffectivenessinprogress",rigorouslyimplementtheprincipleof"determiningproductionbasedonsalesanddeterminingexpensesbasedonincome,"addressinguncertainmarketconditionsthroughproactivemeasuresanddefinitiveactionstoupholdstrategicresilience.Emphasisisplacedonbeingtarget-oriented,problem-oriented,andresults-oriented,withafocusedeffortonthepreciseandsustainedexecutionaroundthefouraspectsof"stabilizingcashflow,controllingcosts,expandingcapacity,andstrengtheningfoundations".Activeachievementsareutilizedtopromotethestabilityoftheoverallproductionandoperation.Andresolutelyovercomeanumberofdifficultiesaffectingtheadvancementofmajorprojects.Besides,theGroup'sdevelopmentwillbeguidedtowardabenigntrackwherebusinesssegmentsandprojectsmoveforwardtogetherandcompetefordevelopment.TheGroupwillcontinuetobeapioneerinenterprisereformanddevelopment,comprehensivelyaccomplishtheannualtasksandobjectivesandmakenewcontributionstotheGroup'shigh-qualitysustainabledevelopmentandthe
visionofbuildingChina'sleadingsmartoperatorofindustry-cityspace.First,theGroupwillcreateconditionsonthebasisofthecurrentresourceendowmentandbusinesslevelandstrivetoaccomplishtheleadingannualindicatorsaccordingtotheplan.Advancekeyprojectmarketingandthedevelopmentofexistingprojectsinanorganizedmannertomeettheannualbudgetobjectivesforoperatingrevenue,totalprofits,andothermetrics.TheopeningofLanhuShidai,YutangShangfu,SeaBay,andShenyangDigitalTownprojectswillbetimedaccordingtomarketconditionstoguaranteethefulfillmentofannualsalesobjectives.Second,theGroupwillovercomedifficulties,strengthennodemanagementandachievetheoverallaccelerationofprojectsunderconstruction.Schedulecontrolwillbeintensified,responsibilitieswillbefulfilledandimprovementswillbemadeinthecapabilityofcommandingandcontrollingprojectsandtheoperatingefficiency.Thefollowingworkneedstobedonefornewlystartedprojectsinaforward-lookingmanner,includingschemedesign,constructiondrawingdesign,thedeterminationofcosttargetsatvariousphasesandtheimplementationofbiddingandtenderingplans.Suchworkwillbematchedseamlesslywiththephasedplansandwillbecarriedoutaheadofschedulemoderately,toensurethateachprojectisimplementedwithbothqualityandquantityguaranteedinstrictaccordancewiththephasedplans.AdvanceinanorderlymannerwiththeworkprogressoftheTianjunIndustrialParkandFuyuanIndustrialParkprojects,andsustaintheintegrationandprojectproposalsubmissionsfortheHuiyangDanshuiprojectarea.Third,theGroupwillcontinuetostrengthenthebuildingofindependentoperatingcapacityofsecondaryplatformcompanies,thedevelopmentofplatformfunctionsandtheplayingofrolesandsticktothedevelopmentpatternofrealestateasthemainbusiness.Astandardizedmodelofthewholeprocessofrealestateprojectdevelopmentwillbebuilt.Theresultsofrealestateworkconferenceswillbeimplemented,aswellastheimprovementplansof"3+1"forprojectmanagementand"1+5"forcostmanagement.Continuouseffortswillbemadetoimprovetheprojectdevelopmentmanagementsystemandachievethecomplementation,synergyandcoordinationamongthebusinesslinesintheGroup'sprojectdesign,construction,biddingandtenderingandmarketing.Inaddition,theGroupwillcompareitsprojectswithbenchmarkingprojectsoftheindustrytoenhancethemanagementlevelandbuildanefficient,standardizedmodelofthewholeprocessofrealestateprojectdevelopmenttoguaranteetheefficientandstableoperationofprojectsduringthewholelifecycle.Withrespecttothepropertymanagementsegment,thehigh-qualityexpansionwillbespedupandvariousstepswillbetakentoenhancetheinternalmanagementlevel.Accordingtotheannualtarget,externalM&Asandendogenousexpansionwillbestrengthenedandtheintegrationofpropertymanagementassetsinthesystemwillcontinuetobepromoted,inabidtoachievethetargetofadding10millionsquaremetersofmanagementscalethroughM&Aswithintheyear.Furthermore,theopportunityfrominspectionandremediationwillbeusedforcomprehensiveremediationandthebuildingofaservicestandardizationsystemwillbedeepenedsothatitwillmatchthestrategicpositioningofthesystem'spropertymanagementplatformassoonaspossible.Thefocuswillbeplacedonimprovingthequalityandefficiencyofstockassetsandtransformationandupgradingwillbeaccelerated.Thegrowthofannualrentalincomeshallnotbelessthan10%andtheaverageoccupancyrateshallnotbelessthan95%.Withtheestablishmentofanindicatorsystemforqualityandefficiencyimprovementassessmentofstockpropertiesandanincentiveandrestraintmechanism,theformattransformationandupgradingofoldpropertieswillbepromotedandthestockassetmanagementwillchangefrom"passivelease"to"activeoperation".Fourth,theGroupwilladheretotheParty'soverallleadership,promotethedecentralizationofbusinessfocus,thedownwardshiftofmanagementprioritiesandthepenetrationofmanagementcapabilities.TheGroupwillcontinuetoconsolidatethePartybuilding,strengthenthebuildingofgrass-rootsPartyorganizationsandPartymembers,givefullplaytotheParty'spoliticalleadershiptofacilitateoperationanddevelopmentandcarryoutcharacteristicthemePartybuildingandcorporateculturepublicityandcreationactivitiesinduetime.Financialmanagementwillaimatimprovingtheefficiencyandeffectivenessofresourceutilization.Thecorrespondingmeasuresincludeoptimizingresourceallocation,tighteningbudgetcontrolandassessment,strengtheningindustry-financeintegration,financialanalysisandtaxmanagementandraisingfundsthroughmultiplechannels.Sustaintheimprovementoftheselectionandemploymentsystem,expeditetalentpooldevelopmentthroughablendof"internalselectionandexternalrecruitment,"continuethedeepeningofmulti-tierincentiveandconstraintmechanismconstruction,
andensurecomprehensiveimplementationacrosssecondandthird-tiercompanies;TheGroup'sindustrialoperationplatformof"industry-university-research-application"willbebuilt,theindustrialoperationsystemwillbeimprovedgraduallyandtheinvestmentattractioncapabilityandlevelwillbeenhanced.Fifth,theGroupwillbealwaysvigilantaboutproductionsafety,complaintlettersandvisitsandstabilitymaintenance.Improvethesystemframework,enforcequarterlysafetyproductionevaluations,andestablisharationalrewardandpunishmentsystem.Deepenthebuildingofsafeproductionstandardizationandthe"dualpreventionmechanism",andintensifyingregularproductionsafetyinspections.Inaddition,hiddenriskswillbecollatedregularly,listmanagementwillbeimplementedforriskpointsinkeyareasandkeyprocesses,andremediationwillbestrictlycarriedout,toensurethatnoproductionsafetyaccidentoccursthroughouttheyear.EnhancethecoordinationandlinkagebetweenpetitionworkandtheGroup'skeyoperationalendeavors,deepentheuseofcasesasexamplesandcatalystsforimprovement,andfullyutilizethesupportive,protective,andenablingfunctionsofpetitionworkinoperations.(IV)Potentialrisks
1.MarketriskUndertheguidanceofthepolicythat"housesareforlivingin,notforspeculatingon",thedemandsideoftherealestatemarketremainsinthedownwardchannel.Consequently,thedevelopmentspaceofthepropertyindustryhasbeenconstantlycompressed,industryprofitshavefallensharplyandtherehasbeenashiftfromlanddividendstomanagementdividends.Inparticular,itposesunprecedentedchallengestobusinesscapabilitiessuchascostdesignandengineering.TheadvancementofurbanrenewalprojectsisconfrontedwithcomplicatedconditionsandformidableobstaclesandtheCompany'sbusinessanddevelopmentfaceopportunitiesandchallenges.Undergrimcircumstances,theCompanythoroughlystudiedtheopportunitiesandchallengesbroughtaboutbymacroeconomictrendsandpolicymovements,activelysoughtthestrategicbreakthroughdirectionandadheredtoprudentoperation.Additionally,itraisedfundsfrommultiplechannels,focusedonenhancingthemanagementlevelandseizedopportunitiesinthelandmarket.BasedinShenzhen,theCompanyaimstoextenditspresencetotheGuangdong-HongKong-Macaometropolitanareaandsurroundingareasandstrivestoimproveitssustainabledevelopmentcapabilities.
2.LandReserveRiskAsamatteroffact,theCompanystilllacksenoughlandreservesanddevelopmentpoweratlaterstages.Inrecentyears,thesupplyofresidentiallandonShenzhenMarkethascontinuouslydeclined.Variouslarge-scalerealestateenterpriseshaveenlargedtheirmarketsharesandacceleratedtheirM&Apace.Whiletherealestateindustryiscentralizing,thedegreeofcentralizationofthelandreservescalehasalsobeenenhanced.Astheexternalenvironmentandtheindustry’strendbecomemuchmorecomplicatedandsevere,theincrementmarketscalewillfurthershrinkandthemarketcompetitionwillbecomeincreasinglyfierce.Facingthechallenges,theCompanywillcontinuetoexpandthroughmarketcompetition,capitaloperationandurbanrenewal,increaselandreservesandpromotethelaunchofprojects.Inrespecttopropertytype,residentialprojectswillfocusonGuangdong-HongKong-MacaoGreaterBayArea,YangtzeRiverDeltametropolitanareaandareaswhereexistingprojectslocate,andgraduallyturntocentralurbanagglomerationsurroundingWuhan,keycitiesinChengdu-ChongqingintheWestandthoseinBeijing,TianjinandHebei.UrbanrenewalprojectswillfocusonShenzhen,DongguanandHuizhou,andfollow-upofurbanrenewalprojectsinGuangzhou.ComprehensiveindustryandurbanprojectswillfocusonGuangdong-HongKong-MacaoGreaterBayArea,YangtzeRiverDeltaregion,WuhanregioninthecentralpartandChengdu-ChongqingareaintheWest.
3.FinancingRiskIntheprocessofactivelyincreasinglandreservesandacceleratingthebusinessdevelopmentintherecentyears,theCompanyneedstoinvestalargeamountoffundsforlandacquisitionandprojectdevelopment.Inadditiontoitsownfunds,theCompany’sprojectdevelopmentfundsneedtobeexternallyfinancedthroughbankloansandissuingsecurities.Currently,theCompanyhassteadyfinancialsituationandgoodcreditcondition,andwillfurtherstrictlycontrolfinancialrisks,activelyexplorevariousfinancingchannelssoastoraisefundsforprojectdevelopmentinthefuture.
TheabovebusinessplanandbusinessobjectivesdonotrepresentthelistedCompany’sprofitforecastfor2024.Whetheritcanbeachieveddependsonvariousfactorsincludingchangesinmarketconditionsandtheeffortmadebythemanagementteam.Investorsmustpayspecialattentiontothatbecausethereexistshugeuncertainty.XIICommunicationswiththeInvestmentCommunitysuchasResearches,InquiriesandInterviewsduringtheReportingPeriod?Applicable□Notapplicable
| Dateofvisit | Placeofvisit | Wayofvisit | Typeofvisitor | Visitor | Contentsandmaterialsprovided | Indextorelevantinformation |
| 28January2023 | TheCompany | Onlinecommunication | Individual | Individual | Inquireabouthowthecompanysignsvariousbusinesscontractsandwhetherelectroniccontractsigningisused | N/A |
| 30January2023 | TheCompany | Onlinecommunication | Individual | Individual | InquireaboutwhethertheCompanyadoptsdigitalmanagementmethodstoeffectivelyintegrateandmanagevariousbusinessoperations | N/A |
| 6February2023 | TheCompany | Onlinecommunication | Individual | Individual | Inquireaboutthelandreservesituation | N/A |
| 11April2023 | TheCompany | Onlinecommunication | Individual | Individual | InquireabouttheCompany'smarketvaluemanagementplan | N/A |
| 31May2023 | TheCompany | Byphone | Individual | Individual | InquireabouttheCompany'sbusinessstructureandthereasonsforthedeclineinfirst-quarterperformance | N/A |
| 7June2023 | TheCompany | Onlinecommunication | Individual | Individual | Inquireaboutthenumberofshareholders | N/A |
| 9June2023 | TheCompany | Byphone | Institution | Individual | InquireabouttheCompany'srelevantbusinesslayoutandthemergerandacquisitionsituationinthepropertymanagementsegment | N/A |
| 3July2023 | TheCompany | Onlinecommunication | Individual | Individual | InquireaboutwhetherthecompanyhasformulatedandmadepublictheManagementSystemforInformationDisclosure | N/A |
| 5July2023 | TheCompany | Onlinecommunication | Individual | Individual | Inquireaboutthestaffingoftheresearchanddevelopmentcenter | N/A |
| 12July2023 | TheCompany | Byphone | Individual | Individual | InquireaboutthetimingofthedividendpaymentfortheCompany'sBshares | N/A |
| 17July2023 | TheCompany | Byphone | Individual | Individual | InquireaboutthetimingofthedividendpaymentfortheCompany'sAshares | N/A |
| 23July2023 | TheCompany | Onlinecommunication | Individual | Individual | Inquireaboutthecompany'srelatedbusinesslayout | N/A |
| 1August2023 | TheCompany | Onlinecommunication | Individual | Individual | Inquireaboutthecompany'srelatedbusinesslayout | N/A |
| 2August2023 | TheCompany | Byphone | Individual | Individual | Inquireaboutissuesrelatedtohorizontalcompetition | N/A |
| 12August2023 | TheCompany | Onlinecommunication | Individual | Individual | Inquireaboutthecompany'sinvestmentplan | N/A |
| 1September2023 | TheCompany | Byphone | Individual | Individual | InquireaboutthecurrentstatusoftheCompany'sprojects | N/A |
| 4September2023 | TheCompany | Onlinecommunication | Individual | Individual | Inquireaboutdividenddistribution | N/A |
| 14September2023 | TheCompany | Byphone | Individual | Individual | InquireiftheCompanyhasanyfinancingplans | N/A |
| 10October2023 | TheCompany | Onlinecommunication | Individual | Individual | InquireaboutwhethertheCompanyhasrepurchaseplans | N/A |
| 11October2023 | TheCompany | Onlinecommunication | Individual | Individual | Inquireaboutsolutionstoindustrycompetition | N/A |
| 12November2023 | TheCompany | Onlinecommunication | Individual | Individual | Inquireaboutthecompany'srelatedbusinesslayout | N/A |
| 15November2023 | TheCompany | Byphone | Individual | Individual | Inquireaboutthenumberofshareholders | N/A |
| 19November2023 | TheCompany | Onlinecommunication | Individual | Individual | InquireabouttheCompany's14thFive-YearPlan | N/A |
| 23November2023 | TheCompany | Onlinecommunication | Individual | Individual | Inquireaboutthecompany'srelatedbusinesslayout | N/A |
| 29November2023 | TheCompany | Byphone | Individual | Individual | InquireabouttheprogressinresolvingcompetitionfrompeersandtheCompany'scurrentcashflowsituation | N/A |
| 13December2023 | TheCompany | Onlinecommunication | Individual | Individual | InquireabouttheCompany'splansregardingESGgovernance | N/A |
| 18December2023 | TheCompany | Byphone | Institution | Individual | InquireabouttheCompany'smainbusinessoperationsandcapitaloperations. | N/A |
| 26December2023 | TheCompany | Byphone | Individual | Individual | Inquireabouttheprogressinresolvingcompetitionfrompeers | N/A |
| 27December2023 | TheCompany | Byphone | Individual | Individual | InquireabouttheequitytransferofJinghengtai | N/A |
| 29December2023 | TheCompany | Byphone | Individual | Individual | InquireabouttheequitytransferofJinghengtai | N/A |
XIIIImplementationoftheActionPlanfor“DualEnhancementofQualityandProfitability”
HastheCompanydiscloseditsActionPlanfor“DualEnhancementofQualityandProfitability”
□Yes?No
PartIVCorporateGovernance
IGeneralInformationofCorporateGovernance
TheinternalcontrolsystemoftheCompanyiscomplete,accomplishedanddefinedthatinaccordancewithCompanyLaw,ArticlesofAssociationandotherlawsandregulationsaswellasrequirementsofregulatorydocuments.TheconveneofShareholders’GeneralMeeting,theBoardofDirectorsandSupervisoryBoardarestrictlyinaccordancewithrelevantrulesandregulations,alldirectorsandsupervisorsearnestlyanddiligentlycommittheirresponsibilities.CorporatestructureoftheCompanyiscompleteandtheoperationoftheCompanyisstandardized.Organizedbytheprincipleofbeingscientific,simplifiedandhighefficient,theCompany’sdepartmentsandinstitutionscurrentlyincludeParty-massoffice,disciplineinspectionandsupervisionoffice(theauditdepartment,officeofthesupervisorycommittee,officeofboardofdirectors,comprehensiveoffice(procedureandinformationcenter,lettersandvisitsoffice),HRdepartment(trainingcenter),financialmanagementdepartment(settlementcenter),investmentdevelopmentdepartment,operationandmanagementdepartment,designmanagementdepartment(technologicalcenter),costcontractdepartment,engineeringmanagementdepartment(officeofsecuritycommittee),officeofindustrialoperation.Eachdepartmentperformsitsownfunctions,andstrictlycarriesoutworkaccordingtointernalcontrolsystem,toensurethenormalandefficientoperationoftheCompany.TheCompanyhasalwaysattachedgreatimportanceonstandardizinginsiderinformationmanagement,formulatedandcompletedManagementProvisionsonInformationDisclosure,WorkProceduresofAnnualReportofAuditingCommittee,AccountabilitySystemofMajorErrorsinInformationDisclosureofAnnualReport,WorkSystemofAnnualReport,InsiderManagementSystemofInsiderInformation,ManagementSystemofInvestorRelationship,andotherinternalcontrolsystem,toensuretheauthenticity,accuracyandcompletenessofCompanyinformationdisclosure.Duringthereportingperiod,theCompanystrictlycarriedoutinformationdisclosure,corporategovernanceconferenceorganization,andotherworkaccordingtorequirementsofsecuritiessupervision,disclosedinformationtimely,accuratelyandcompletely,withoutanyaccidentswhichviolaterelevantinternalcontrolsystemofinformationdisclosure.TheCompanycarriedoutqualityself-examinationoflistedcompaniesaccordingtotherequirementsofShenzhenSecuritiesRegulatoryBureautofindoutdeficienciesintheoperationoftheCompanyandformulaterectificationplantoimprovecompanygovernanceandstandardoperation.Indicatebytickmarketwhetherthereisanymaterialincompliancewiththeapplicablelaws,administrativeregulations,andregulationsissuedbytheCSRCgoverningthegovernanceoflistedcompanies.
□Yes?NoNosuchcasesintheReportingPeriod.
IITheCompany’sIndependencefromItsControllingShareholderandActualControllerinAsset,Personnel,FinancialAffairs,OrganizationandBusinessTheCompanywasindependentfromthecontrollingshareholderinbusiness,personnel,assets,organizationandfinancetorealizethatindependentpersonnel,independentfinance,completeassets,independentorganizationandindependentbusiness.Inaspectofbusiness:TheCompanywasindependentfromthecontrollingshareholderwithindependentandcompletebusinessandindependentoperationcapability.Therewasnobusinesswhichwassameorcompetitivewiththecontrollingshareholder.Inaspectofpersonnel:
TheCompanywascompleteindependentfromthecontrollingshareholderintermsoflaborandpersonnel,managementonremuneration.PersonneloftheCompanyareindependent,allonessignedlaborcontractwiththeCompany.TheCompanywas
independentfromtheshareholdersorotherrelatedpartiesinpersonnelmanagement,socialsecurity,salaryetc.Inaspectofasset:
TheCompany’sassetswerecompleteandindependent,thepropertyrelationshipwasclear.Therewasnocapitaloccupationbycontrollingshareholder,andassetsoftheCompanywerecompletelyindependentfromcontrollingshareholder.Inaspectoforganization:TheCompany’sorganizationwasindependent,andtheCompanyimplementedrulesandregulationsaswellasresponsibilitiesforalldepartments,formedindependentresponsibilitiesandrights,scientificandrationalinternalcontrolsystem.Inaspectoffinance:TheCompany’sfinancewasindependentwithindependentfinancedepartment.TheCompanyestablishedtheindependentfinancesettlingsystemandfinancialmanagementsystem,haditsownfinanceaccountandpaidthetaxinlinewithlaws,runfinancedecision-makingindependently.ThecontrollingshareholderoftheCompanyperformednormativelywithnoconductthatintervenedwiththeoperationdecision-makingandoperationactivitiesdirectlyorindirectlyovertheshareholders’generalmeeting,however,thecontrollingshareholdercouldinfluenceonthesignificantdecision-makingthroughthesharesholding.
IIIHorizontalCompetition
?Applicable□Notapplicable
| Typeofproblem | RelationshipwiththeCompany | Companyname | Companynature | Causeofproblem | Solution | Progressandsubsequentplan |
| Horizontalcompetition | Controllingshareholder | ShenzhenInvestmentHoldingsCo.,Ltd. | Other | Note1 | Note2 | Note3 |
Note1:AccordingtotheoverallplanoftheShenzhenMunicipalGovernmentontherestructuringofthestate-ownedassetsmanagementsystem,theState-ownedAssetsSupervisionandAdministrationCommissionofthePeople'sGovernmentofShenzhenMunicipaldecidedtoestablishShenzhenInvestmentHoldingsCo.,Ltd.(SIHC),mergingShenzhenInvestmentHoldingsCo.,Ltd.,ShenzhenManagement-InvestmentCompanyandShenzhenTradeInvestmentHoldingsCo.,Ltd.Asaresult,SIHCinherited63.82%oftheequityinterestsinthelistedcompanyShenZhenProperties&ResourcesDevelopment(Group)Ltd.(SZPRD)heldbyShenzhenInvestmentHoldingsCo.,Ltd.andShenzhenManagement-InvestmentCompanyinaccordancewiththelaw.On19October2018,SIHCobtainedtheConfirmationofSecuritiesTransferRegistrationregardingtheequityinterestofSZPRDandcompletedthetransferoftheequityinterestinSZPRD.InviewofthefactthatShenzhenConstructionDevelopment(Group)Company(“ShenzhenConstructionDevelopment”),ShenZhenSpecialEconomicZoneRealEstate&Properties(Group)Co.,Ltd.(“SPG”)andSZPRD,allwholly-ownedsubsidiariesofSIHC,areoperatingrealestatedevelopmentandcommercialpropertysalesbusiness,whichbelongtothesameindustry,andthereiscompetitioninthesameindustry.Note2:Toavoidhorizontalcompetition,SIHCmakethefollowingcommitments:1.OnthehorizontalcompetitionsolutionofShenzhenConstructionDevelopment:astheholdingshareholderoftheListedCompany,duringthelistingperiodatShenzhenStockExchangeoftheListedCompany,asforthecurrentbusinessofShenzhenConstructionDevelopmentwhichhashorizontalcompetitionwiththeListedCompany,withinthescopepermittedbylawandregulation,within12monthsfromtheequityofSZPRDbeingtransferredtoSIHC,SIHCwillstartthesolutionwithpracticaloperabilityamongbelowhorizontalcompetitionsolutiontimelyandcompleteimplementationofthesolutionwithin3yearsfromthedatethattheequityofSZPRDistransferredtoSIHCtosolvecurrenthorizontalcompetitionproblems:(1)ShenzhenConstructionDevelopmentsignsassetcustodyagreementwiththeListedCompany,entruststheassetswhichhasdirectcompetitionwiththeListedCompanytotheListedCompany,confirmsfaircustodianfeeatthesametime,andtakeseffectivemeasurestosolvehorizontalcompetitionwithincommitmentperiod;(2)InjectassetswithdirectcompetitionwiththeListedCompanyintotheListedCompany;(3)TransferassetswithdirectcompetitionwiththeListedCompanytounrelatedthirdparty;(4)othermeasureswhichcansolvehorizontalcompetitioneffectivelyandisfavorableforprotectingtheinterestoftheListedCompanyandlegalinterestsofothershareholders.Beforesolvingcurrenthorizontalcompetition,whilecompany,enterprise,economicorganization(notincludingenterprisescontrolledby
theListedCompany,hereinafterreferredtoassubordinatedCompanies)whichtheListedCompanyandSIHCholdcontrollingsharesorcontrolsactuallyhavebusiness,incasetheinvolveddispute,etc.havemajorinfluenceonthebusiness,SIHCshouldkeepneutralasacontrollingshareholdertoensurethattheListedCompanyandsubordinatedCompaniescantakepartinmarketcompetitionontheprincipleoffaircompetition.2.HorizontalcompetitionsolutionofSPG:From14September2016tonow,SPGhashadstocksuspensionbecauseofmajorassetsrestructuring.AccordingtoReviewOpinionsonDelayingStockResumptionbecauseofMajorAssetsRestructuringofSPGannouncedbyCITICSecuritiesandHuataiSecuritieson26November2016,therestructuringsolutionisthatSPGplanstoissueAshareand/orusecurrencytopurchase100%equityofEvergrandeGroup(hereinafterreferredtoas“therestructuringofSPG”).GuangzhouChironRealEstateCo.,Ltd.willbethecontrollingshareholderofSPGuponthecompletionoftherestructuringofSPG.IftherestructuringofSPGiscompleted,SIHCwillceasetocontrolSPG,whichmeanstherewillbenohorizontalcompetitionbetweenSPGandSZPRD.IftherestructuringofSPGisterminated,forbusinessofSPGwhichhashorizontalcompetitionwiththeListedCompany,SIHC,withinthescopepermittedbylawandregulation,SIHCwillstartarationalhorizontalcompetitionsolutionaccordingtoactualsituationatthetimewithin12monthsaftertheterminationofreconstructionofSPGandstockresumptionannouncementdate,andfulfillannouncementobligation,andSPGwillcompletetoimplementthesolutionandsolvethehorizontalcompetitionbetweenSZPRDandSPGwithin3yearsfromthedateSPGterminatesthereconstructionandannouncesstockresumption.3.Othercommitmentstoavoidhorizontalcompetition:asthecontrollingshareholderoftheListedCompanyandduringthelistingperiodoftheListedCompanyatShenzhenStockExchange,othersubordinatedCompaniesofSIHCwillnotengageinrelevantbusinesswhichhasdirecthorizontalbusinesscompetitionwiththeListedCompanyinnewbusinessfieldsexceptforinthebusinessfieldwhereitalreadyhashadhorizontalcompetitionwiththeListedCompany.ShenzhenInvestmentHoldingspromisesnottoseekimproperbenefitswiththepositionofcontrollingshareholderoftheListedCompanyanddamagetheinterestoftheListedCompanyanditsshareholders.Incaseofviolatingabovecommitment,SIHCshallundertakecorrespondinglegalliabilities,includingbutnotlimitedtoundertakingcompensationresponsibilitiesforalllossescausedtotheListedCompany.Note3:SIHChasalwaysbeenactivelycommittedtofulfillingitsrelevantcommitments.Duringthetermofcommitment,SIHCdidnotseekanyillegitimateinterestsasthecontrollingshareholdingofSZPRDordamageanyrightsandinterestsofSZPRDanditsshareholders.Duringthetermofcommitment,SIHCactivelycollatedtheunderlyingassetsandbusinessesofShenzhenConstructionDevelopment(Group)CompanyanddevoteditselftodevelopingpracticalandfeasibleplansassoonaspossibletosolvethehorizontalcompetitionissueforSZPRD.ItalsoactivelypromotedtherestructuringofSPG.However,giventheobjectivecircumstances,SIHCfailedtofulfilltheoriginalcommitmenttoavoidhorizontalcompetition.SIHCre-issuedtheLetteronChangingtheCommitmenttoAvoidingHorizontalCompetitionon31August2021andsuchcommitmentchangematterwasapprovedatthefirstextraordinarygeneralmeetingof2021heldon27September2021.Formoredetails,seetheAnnouncementontheApplicationbytheCompany'sControllingShareholderforChangingtheCommitmenttoAvoidingHorizontalCompetition(AnnouncementNo.:2021-32)disclosedbytheCompanyonwww.cninfo.com.cnon11September2021.
IVAnnualandSpecialGeneralMeetingsConvenedduringtheReportingPeriod
1.GeneralMeetingConvenedduringtheReportingPeriod
| Meeting | Type | Investorparticipationratio | Dateofthemeeting | Disclosuredate | Resolutions |
| The2022AnnualGeneralMeeting | AnnualGeneralMeeting | 60.01% | 19May2023 | 20May2023 | ThereportsandproposalsdeliberatedandapprovedatthemeetingincludedtheReportontheWorkoftheBoardofDirectorsin2022,theReportontheWorkoftheBoardofSupervisorsin2022,the2022 |
| AnnualReport,the2022FinancialAccountsReport,the2023FinancialBudgetReport,thePlanonProfitDistributionandCapitalizationfromCapitalReservein2022,theProposalontheComprehensiveCreditLinefor2023,theProposalonEstimatedRoutineRelated-partyTransactionsfor2023,andtheProposalonRenewingtheEngagementofAccountingFirm.Fordetails,pleaserefertotheAnnouncementontheResolutionsofthe2022AnnualGeneralMeeting(No.:2023-12)onwww.cninfo.com.cn. | |||||
| The1stExtraordinaryGeneralMeetingof2023 | ExtraordinaryGeneralMeeting | 60.04% | 20November2023 | 21November2023 | TheProposalonthePublicListingTransferof100%EquityofWholly-ownedSubsidiaryShenzhenJinghengtaiRealEstateDevelopmentCo.,Ltd.wasdeliberatedandapproved.Foradditionalinformation,pleaserefertotheannouncementofresolutionsmadeatthe2023FirstExtraordinaryShareholders'Meeting,withthereferenceNo.2023-32onwww.cninfo.com.cn. |
| The2ndExtraordinaryGeneralMeetingof2023 | ExtraordinaryGeneralMeeting | 57.27% | 28December2023 | 29December2023 | TheproposalsdeliberatedandapprovedatthemeetingincludedtheProposalontheFollow-upDevelopmentoftheCompany'sProjectofSlenderWestLakeEcologicalHealthValleyinYangzhou(GZ342,GZ399Plots),theProposalonAmendingtheArticlesofAssociationoftheCompany,theProposalonRevisingtheRulesofProcedureforGeneralMeetings,theProposalonRevisingtheRulesofProcedurefortheBoardofDirectors,theProposalontheAmendmentoftheRulesofProceduresfortheSupervisoryCommittee,theProposalonRevisingtheWorkingRegulationsforIndependentDirectors,andtheProposalontheAmendmentandEstablishmentofGovernanceSystemsoftheCompanyLiketheAnnualAuditorSelectionSystem.Fordetails,seetheAnnouncementontheResolutionsoftheSecondExtraordinaryGeneralMeetingin2023(No.2023-40)on |
2.SpecialGeneralMeetingsConvenedattheRequestofPreferredShareholderswithResumedVotingRights
□Applicable?Notapplicable
VDirectors,SupervisorsandSeniorManagement
1.GeneralInformation
www.cninfo.com.cn.
Name
| Name | Gender | Age | Officetitle | Incumbent/Former | Startoftenure | Endoftenure | Beginningshareholding(share) | IncreaseintheReportingPeriod(share) | DecreaseintheReportingPeriod(share) | Otherincrease/decrease(share) | Endingshareholding(share) | Reasonforsharechange |
| LiuShengxiang | Male | 52 | PartySecretaryandChairmanoftheBoard | Incumbent | 15June2018 | 26September2024 | ||||||
| WangHangjun | Male | 57 | Director,DeputyPartySecretary,GM | Incumbent | 15June2018 | 26September2024 | -- | |||||
| ZhangZhimin | Male | 46 | Director,DeputyPartySecretary | Incumbent | 29June2022 | 26September2024 | ||||||
| ShenXueying | Female | 54 | DirectorandCFO | Incumbent | 15June2018 | 26September2024 | ||||||
| WangGe | Male | 52 | Director | Incumbent | 15June2018 | 26September2024 | ||||||
| XieChang | Male | 51 | Director | Incumbent | 7April2020 | 26September2024 | ||||||
| MeiYonghong | Male | 59 | IndependentDirector | Incumbent | 15June2018 | 26September2024 | ||||||
| LiDonghui | Male | 51 | IndependentDirector | Incumbent | 27September2021 | 26September2024 | ||||||
| HuCaimei | Female | 41 | IndependentDirector | Incumbent | 27September2021 | 26September2024 | ||||||
| MaHongtao | Mal | 55 | Chairmanofthe | Incu | 21July2022 | 26September2024 |
| e | SupervisoryCommittee | mbent | ||||||||||
| ZhangManhua | Male | 48 | Supervisor | Incumbent | 15June2018 | 26September2024 | ||||||
| LiQinghua | Male | 41 | Supervisor | Incumbent | 15June2018 | 26September2024 | ||||||
| WangQiuping | Female | 54 | EmployeeSupervisor,ExecutiveDirectorofITCPark,SecretaryofthePartyCommittee | Incumbent | 15June2018 | 26September2024 | ||||||
| GuWeimin | Female | 42 | EmployeeSupervisor,DisciplineInspectionDirector,DeputySecretaryoftheDisciplineInspectionCommission | Incumbent | 15June2018 | 26September2024 | ||||||
| ChenHongji | Male | 55 | MemberofthePartyCommitteeandDeputyGM | Incumbent | 28December2020 | 26September2024 | ||||||
| CaiLili | Female | 51 | MemberofthePartyCommitteeandDeputyGM | Incumbent | 15June2018 | 26September2024 | ||||||
| LiPeng | Male | 47 | MemberofthePartyCommitteeandDeputyGM | Incumbent | 15June2018 | 26September2024 | ||||||
| ZhangGejian | Male | 48 | MemberofthePartyCommittee,DeputyGMandBoardSecretary | Incumbent | 15June2018 | 26September2024 | ||||||
| Total | -- | -- | -- | -- | -- | -- | 0 | 0 | 0 | 0 | 0 | -- |
Indicatewhetheranydirector,supervisororseniormanagementresignedbeforetheendoftheirtenureduringtheReportingPeriod.
□Yes?NoChangeofdirectors,supervisorsandseniormanagement:
□Applicable?Notapplicable
2.BiographicalInformation
Professionalbackgrounds,majorworkexperienceandcurrentdutiesintheCompanyoftheincumbentdirectors,supervisorsandseniormanagement:
MembersoftheBoardofDirectors:
Mr.LiuShengxiang,borninAugust1971,isanowmemberoftheCommunistPartyofChina,professor-levelseniorengineer,NationalCertifiedArchitect(Level1),andhasobtainedhisBachelorDegree,MasterofEngineering,andMBA.InJune1994,hejoinedShenzhenTagenGroupCo.,Ltd.,andsuccessivelyservedasthedeputygeneralmanager,generalmanager,andgeneralPartybranchsecretaryofShenzhenMunicipalEngineeringCorp.andthedeputygeneralmanagerofShenzhenTagenGroupCo.,Ltd.InJune2013,hejoinedShenzhenRoad&BridgeGroupastheexecutivedirector,SecretaryofthePartyCommitteeandgeneralmanager.HestartstoserveastheSecretaryofthePartyCommitteeandtheChairman(June2018)oftheCompanysinceSeptember
2017.Concurrently,hewastheSecretaryofthePartyCommittee,ExecutiveDirectorandGM(fromAugust2018toMay2020)inShenzhenToukongPropertyManagementCo.,Ltd..Mr.LiuShengxiangwasawardedthetitleofOutstandingCommunistPartyMemberofShenzhenin2001,andobtainedTien-yowJemeCivilEngineeringPrizein2013,andMay1
st
LaborMedalofShenzhenin2015,thePartyrepresentativeofthe6
th
PartyCongressinShenzhen.Mr.WangHangjun,borninNov.1966,memberofCommunistPartyofChina,isaseniorauditorwithamasterdegreeofeconomy.HeevertookpostofDeputyChiefofAuditBureauofNanshanDistrict,Shenzhen;ViceMinister,MinisterofAuditDepartmentofShenzhenInvestmentandManagementCompany;ViceMinister,MinisterofSupervisionDepartmentofShenzhenInvestmentandManagementCompany;MinisterofAuditandInspectionDepartmentofShenzhenInvestmentHoldingCo.,Ltd.HehasbeenDeputyGMoftheCompanysinceOct.2007.NowheistheDirector,deputyPartySecretaryandGMoftheCompany.Mr.ZhangZhimin,borninOctober1977,isaChineseCommunistPartymemberwhoholdsamaster'sdegree.In2016,hejoinedtheState-ownedAssetsSupervisionandAdministrationCommissionoftheShenzhenMunicipalPeople'sGovernment,wherehehasheldvariousrolesincludingchiefstaffmemberoftheoffice(petitionoffice),chiefstaffmemberoftheoffice(partycommitteeoftheoffice),deputyresearcheroftheoffice(partycommitteeoftheoffice),fourth-levelresearcheroftheoffice,andthird-levelresearcheroftheoffice(partycommitteeoftheoffice).SinceMay2022,hehasservedasthedeputysecretaryofthecompany'spartycommittee,andsinceJune2022,hehastakenonadditionalrolesasthecompany'sdirector,deputysecretaryofthepartycommittee,andchairmanofthelaborunion.Ms.ShenXueying,borninOctober1969,memberoftheCommunistPartyofChina,BachelorofEconomics,isasenioraccountant.Ms.ShenXueyinghasbeenengagedinthefinancialmanagementoflistedcompaniesfornearly30years.ShejoinedtheFinanceDepartmentoftheCompanyin1991andsuccessivelyservedastheclerkanddeputymanagerofthefinancialmanagementdepartmentoftheCompany.ShewasthemanagerofthefinancialmanagementdepartmentoftheCompanyfrom2007-2018andhasservedastheCFOofChinaShenzhenForeignTrade(Group)Corp.,Ltd.sinceMarch2020.NowsheiscurrentlytheDirectorandChiefFinancialOfficeroftheCompany.Mr.WangGe,borninOctober1971,thememberoftheCommunistPartyofChina,isnowtheseniorengineerwiththedegreeofBachelorofEngineering.Mr.WangGehasbeenengagedintheenterprisemanagementformanyyears.HesuccessivelyservedasthedeputydirectoranddirectoroftheengineeringdepartmentofShenzhenJian’an(Group)Co.,Ltd.,themanagerandthedeputysecretaryofthePartyBranchofJian’anGroupConstructionandMunicipalEngineeringCompany,andthedeputygeneralmanager,director,thedeputysecretaryofthePartyCommitteeandthegeneralmanagerofJian’anGroup.FromMarch2017topresent,hehasservedastheChiefEngineerofShenzhenInvestmentHoldingsCo.,Ltd.Mr.XieChang,borninNovember1971,CPCmember,bachelorofengineering,seniorengineer,economist,andpoliticalengineer.HeusedtobetheheadofthePartyandMassWorkDepartment,memberoftheDisciplinaryCommittee,andheadoftheAssetManagementDepartmentofShenzhenJian'an(Group)Co.,Ltd.;thedeputyGMofShenzhenSibionoGeneTechCo.,Ltd.;theheadoftheoperationmanagementdepartment,officedirector,secretaryoftheBoardofDirectorsofShenzhenForeignLaborServiceCo.,Ltd.;officedirectorofShenzhenTalentExchangeServiceCenterCo.,Ltd.HehasservedastheheadofthecomprehensivemanagementdepartmentofShenzhenInvestmentHoldingsCo.,Ltd.fromSeptember2017,andadirectoroftheCompanyfromApril2020.Mr.MeiYonghong,borninOctober1964,isthememberoftheCommunistPartyofChina,andgraduatedfromtheDepartmentofAgricultureofHuazhongAgriculturalUniversitywiththeDegreeofBachelorofAgriculture.HesuccessivelyservedasthedeputydirectoroftheGeneralOfficeofMinistryofScienceandTechnologyandthedirectoroftheinformationresearchoffice,thedirectorofthePolicy,RegulationsandSystemReformDepartmentofMinistryofScienceandTechnologyandthemayorofJiningCityinShandongProvince.NowheservesastheDirectorofBGIGroup,ChairmanoftheBoardofBGIAgriculturalGroup(startingfromSeptember2015),CEOofCountyGardenAgriculturalHoldingsCo.,Ltd.(startingfromAugust2018)andExecutiveVicePresidentofBGIGroupsinceMay2022.Mr.LiDonghui,borninJune1976,isagraduatewithabachelor'sdegreefromtheAuditDepartmentoftheEconomicsandManagementSchoolofWuhanUniversityandreceivedaPhDdegreeinAccountingandFinanceattheUniversityofNewSouth
WalesBusinessSchool,Australia.HeonceworkedasacivilservantattheDepartmentofFinancialSystemAuditoftheNationalAuditOfficeofthePeople'sRepublicofChinaandastheExecutiveDeanoftheSchoolofManagement,JinanUniversity.HeiscurrentlyadistinguishedprofessorofaccountingandfinanceanddoctoralsupervisorattheCollegeofEconomicsShenzhenUniversityandtheDirectoroftheCommitteeofProfessorsofthecollege.ManyofhisarticleswerepublishedintopinternationaljournalsandkeyauthoritativeacademicjournalsofChina.HewasnamedatalentedpersonofShenzhen'soverseashigh-level"PeacockPlan"andservedasanexpertoftheSeniorTitleReviewCommitteeoftheShenzhenFinancialBureau,anexpertoftheXinshenCommunicationThink-tankofShenzhenPressGroupandarevieweroftheNationalNaturalScienceFoundationofChina.Ms.HuCaimei,borninSeptember1982,isaDoctorofManagement,PostdoctoralFellowinEconomics,AssociateProfessorandbackuptalentofShenzhen.ShecurrentlyservesastheDeputyDirectoroftheInstituteofFinancialDevelopmentandState-ownedAssetsandEnterprises,ChinaDevelopmentInstituteandhasbeenlongengagedinpolicyresearchandconsultationinfinanceandstate-ownedassetsandenterprises,withextensiveexperienceintheconsultationonthereformanddevelopmentofstate-ownedassetsandenterprises.Shepresidedoverandparticipatedinanumberofnational,ministerialandprovincialscientificresearchprojectsandmorethan50consultingtopics.Manyofherresearchresultswereadoptedbygovernmentdepartmentsandwonscientificresearchawards.MembersoftheSupervisoryCommittee:
Mr.MaHongtao,borninOctober1968andholdingamaster'sdegree.HeisamemberoftheChineseCommunistParty.Throughouthiscareer,Mr.Mahasheldvariouspositionsinthebankingsector.From1991to2000,heworkedattheBankofChinaTaiyuanBranchasacashier,auditor,creditsectionchief,anddeputydirectoroftheoffice.Followingthat,heservedasthebranchmanageranddepartmentgeneralmanagerofChinaMinshengBankTaiyuanBranchfrom2000to2004.From2004to2016,heheldthepositionofbusinesssupervisoranddepartmentgeneralmanagerattheheadofficeofChinaMinshengBank.From2016to2019,Mr.Matookastudytourandprovidedteachingsupportinmountainousareas.HethenservedasthedeputygeneralmanagerofthefinancedepartmentandcapitaldirectorofKeluElectronicsCo.,Ltd.from2019to2020.From2020to2022,hewasthegeneralmanageroftheofficeofWanheSecuritiesCo.,Ltd.Currently,Mr.Maisthechairmanofthesupervisoryboardofthecompany.HehasheldthispositionsinceJuly2022.Mr.ZhangManhua,borninFeb.1975,master’sdegree,memberoftheCommunistPartyofChina,studiedandworkedinCentralSouthUniversityfrom1992to2004;SeniorManagerintheInvestmentCenterofKonkaGroupandconcurrentlyworkedastheBoardSecretaryforShenzhenJvlongOptoelectronicCo.,Ltd.,andInvestmentManagerinShenchaoTechnologicalInvestmentCo.,Ltd.from2004to2013;heworkedasdeputydirectorintheStrategy&DevelopmentDepartmentinShenzhenInvestmentHoldingCo.,Ltdfrom2013to2018.HeisthedirectorinLawandRisksManagementdepartmentofShenzhenInvestmentHoldingsCo.,Ltdsince2018.Mr.LiQinghua,borninApril1982,hasobtainedhisBachelordegree.From2003to2013,heworkedforDZXInternationalAppraisalLimited,andsuccessivelyservedastheprojectassistance,theprojectmanagerandtheseniormanager;from2013to2017,heservedastheseniorexecutiveofthepropertyrightmanagementandlegalaffairsdepartmentofShenzhenInvestmentHoldingsCo.,Ltd.,andfrom2017tillnow,heservesasthedeputydirectoroftheauditdepartmentofShenzhenInvestmentHoldingsCo.,Ltd.Ms.WangQiuping,borninJanuary1970,isaPartymemberandsenioreconomistwithabachelor'sdegree.From1992to2015,shewasengagedinmanagementintheGeneralManager'sOffice,AccountingandFinanceDepartment,OperationManagementDepartmentandDevelopmentManagementDepartmentoftheCompany.From2015to2018,sheservedasthePartySecretary,DeputyGeneralManagerandTradeUnionPresidentofITCPropertyManagement.From2018to2020,sheservedasthePartySecretaryandGeneralManagerofITCPropertyManagement.From2020toAugust2021,sheservedasthePartySecretary,ExecutiveDirectorandGeneralManagerofITCTechnologyPark.SheiscurrentlythePartySecretaryandExecutiveDirectorofITCTechnologyPark.Ms.GuWeimin,BorninOctober1981,isthememberoftheCommunistPartyofChinawiththeMaster’sDegree.From2007to2010,sheservedinKPMGShenzheninexternalaudit;from2011tillnow,shehasworkedfortheCompanyintheauditdepartment
(theofficeoftheboardofsupervisors),andisnowtheDeputySecretaryoftheDisciplineInspectionCommissionandthedirectoroftheDisciplineInspectionandSupervisionOffice(AuditDepartment,theOfficeoftheSupervisoryCommittee)oftheCompany.Executiveofficers:
Mr.WangHangjun,borninNov.1966,memberofCommunistPartyofChina,isaseniorauditorwithamasterdegreeofeconomy.HeevertookpostofDeputyChiefofAuditBureauofNanshanDistrict,Shenzhen;ViceMinister,MinisterofAuditDepartmentofShenzhenInvestmentandManagementCompany;ViceMinister,MinisterofSupervisionDepartmentofShenzhenInvestmentandManagementCompany;MinisterofAuditandInspectionDepartmentofShenzhenInvestmentHoldingCo.,Ltd.HehasbeenDeputyGMoftheCompanysinceOct.2007.NowheistheDirector,deputyPartySecretaryandGMoftheCompany.Mr.ChenHongji,borninMay1968,CPCmember,postgraduatedegree,andmasterofphilosophy.HehasworkedinShenzhenMunicipalPeople'sGovernmentformanyyears.HejoinedShenzhenConstructionInvestmentHoldingCo.,Ltd.inJanuary1998andsuccessivelyservedassectionchiefofdevelopmentresearchdepartment,deputydirectorofoffice,deputydirectorofPartycommitteeofficeanddirectorofsecretaryofficeofboardofdirectors.InOctober2004,hejoinedShenzhenInvestmentHoldingCo.,Ltd.andsuccessivelyservedasdirectorofthepartymassdepartmentanddirectoroftheboardoffice.SinceJuly2012,hehasbeenthedeputyGMofShenzhenExpander.FromDecember2020,hehasservedasamemberofthepartycommitteeanddeputyGMoftheCompany.Ms.CaiLili,BorninNovember1972,isthememberoftheCommunistPartyofChina,andhasobtainedtheMaster’sDegreeinEconomics.Since1995,hehasworkedinShenzhenTaxService,SAT,andeverservedasthedeputychiefofthetaxationandscientificandtechnologicaldevelopmentdepartmentofShenzhenTaxService,SAT,andthememberofthePartyOrganizationandthedeputydirectorofFutianDistrictTaxBureauinShenzhen.Currently,heisthememberofthePartyCommittee,deputygeneralmanagerandChiefFinancialOfficer.Mr.LiPeng,BorninMay1976,isthememberoftheCommunistPartyofChina,theBachelorofEngineeringandtheintermediateeconomist.SinceJuly1999,hehasworkedfortheCompanyastheoperationmanager,andsuccessivelyservedasthedeputymanageroftheCompany’sdevelopmentmanagementdepartment,themanagerofthecostcontroldepartment,andthesecretaryofthePartybranchandthedeputygeneralmanagerofShenzhenHuangchengRealEstateCo.,Ltd.Currently,henowisthememberofthePartyCommittee,anddeputygeneralmanager.Mr.ZhangGejian,borninSeptember1975,thememberoftheCommunistPartyofChina,MBA,isanAccountantaswellasAuditor.HewasengagedininternalauditingworkinAuditDepartmentoftheCompanysinceJuly1997.Heactedastheauditmanager,SupervisoroftheCompanyandconcurrentlytheCostControlManager.NowheisthememberofthePartyCommittee,theviceGMandBoardSecretaryoftheCompany.Ms.ShenXueying,borninOctober1969,thememberoftheCommunistPartyofChina,BachelorofEconomics,isasenioraccountant.Ms.ShenXueyinghasbeenengagedinthefinancialmanagementoflistedcompaniesfornearly30years.ShejoinedtheFinanceDepartmentoftheCompanyin1991andsuccessivelyservedastheclerkanddeputymanagerofthefinancialmanagementdepartmentoftheCompany.ShehasbeenthemanagerofthefinancialmanagementdepartmentoftheCompanyfrom2007to2018,andtheChiefFinancialOfficerofChinaShenzhenForeignTrade(Group)Corp.,Ltd.sinceMarch2020,andnowsheistheDirector,andChiefFinancialOfficeroftheCompany.Officesheldconcurrentlyinshareholdingentities:
?Applicable□Notapplicable
| Name | Shareholdingentity | Officeheldintheshareholdingentity | Startoftenure | Endoftenure | Remunerationorallowancefromtheshareholdingentity |
| WangGe | ShenzhenInvestmentHoldingsCo.,Ltd. | ChiefEngineer | 1March2017 | Yes | |
| XieChang | ShenzhenInvestmentHoldingsCo.,Ltd. | Directorofthegeneralmanagementdepartment | 7April2020 | Yes | |
| ZhangManhua | ShenzhenInvestmentHoldingsCo.,Ltd. | Directorofthelegalandriskmanagementdepartment | 1January2017 | Yes | |
| LiQinghua | ShenzhenInvestmentHoldingsCo.,Ltd. | Deputydirectoroftheauditdepartment | 1January2017 | Yes | |
| Note | Exceptforthemajorofficesheldconcurrentlyinshareholdingentitiesabove,DirectorsWangGeandXieChang,aswellasSupervisorsZhangManhuaandLiQinghuaalsoserveasDirectororSupervisorinanumberofnon-listedsubsidiariesorinvestedcompaniesofrelevantshareholders. | ||||
Officesheldconcurrentlyinotherentities:
?Applicable□Notapplicable
| Name | Otherentity | Officeheldintheentity | Startoftenure | Endoftenure | Remunerationorallowancefromtheentity |
| ShenXueying | ChinaShenzhenForeignTrade(Group)Co.,Ltd. | ChiefFinancialOfficer | 1March2020 | No | |
| MeiYonghong | BGIGroup,BGIAgriculturalGroup,CountyGardenAgriculturalHoldingsCo.,Ltd. | DirectorandExecutiveVicePresidentofBGIGroup,ChairmanofBGIAgriculturalGroup,CEOofCountryGardenAgriculturalHoldingsCo.Ltd. | 1September2015 | Yes | |
| LiDonghui | ShenzhenUniversity | Distinguishedprofessor,doctoralsupervisor,directoroftheProfessorCommitteeoftheSchoolofEconomics | 1April2019 | Yes | |
| HuCaimei | China(Shenzhen)DevelopmentInstitute | DeputyDirectoroftheInstituteofFinancialDevelopmentandState-ownedAssetsandEnterprises | 1November2016 | Yes | |
| Note | N/A | ||||
Punishmentsimposedintherecentthreeyearsbythesecuritiesregulatorontheincumbentdirectors,supervisorsandseniormanagementaswellasthosewholeftintheReportingPeriod:
□Applicable?Notapplicable
3.RemunerationofDirectors,SupervisorsandSeniorManagement
Decision-makingprocedure,determinationbasisandactualpaymentsofremunerationfordirectors,supervisorsandseniormanagement:
DuringthisReportingPeriod,theboardandthemanagementoftheCompanysignedstatementofoperationobjectivesresponsibilityfor2023,conductedappraisalsystemintegratingoperationindicators,classificationindicatorswithmanagementobjectives.AftertheendofthisReportingPeriod,assessmentwasimplementedbytheboard.Remunerationofseniorexecutives
wasdeterminedaccordingto“ManagementMethodofAnnualsalarySystemofDirectors,SupervisorsandSeniorExecutivesofShenZhenProperties&ResourcesDevelopment(Group)Ltd.”and“Long-termIncentive-and-RestraintMechanismofShenZhenProperties&ResourcesDevelopment(Group)Ltd.”andneedtobeimplementedaftertheannualassessmentoftheboard.Remunerationofdirectors,supervisorsandseniormanagementfortheReportingPeriod
Unit:RMB'0,000
| Name | Gender | Age | Officetitle | Incumbent/Former | Totalbefore-taxremunerationfromtheCompany | Anyremunerationfromrelatedparty |
| LiuShengxiang | Male | 52 | PartySecretaryandChairmanoftheBoard | Incumbent | 113.60 | No |
| WangHangjun | Male | 57 | Director,DeputyPartySecretary,GM | Incumbent | 107.95 | No |
| ZhangZhimin | Male | 46 | Director,DeputyPartySecretary | Incumbent | 96.65 | No |
| ShenXueying | Female | 54 | DirectorandCFO | Incumbent | 114.72 | No |
| WangGe | Male | 52 | Director | Incumbent | 0 | Yes |
| XieChang | Male | 51 | Director | Incumbent | 0 | Yes |
| MeiYonghong | Male | 59 | IndependentDirector | Incumbent | 8 | Yes |
| LiDonghui | Male | 51 | IndependentDirector | Incumbent | 8 | No |
| HuCaimei | Female | 41 | IndependentDirector | Incumbent | 8 | No |
| MaHongtao | Male | 55 | ChairmanoftheSupervisoryCommittee | Incumbent | 103.92 | No |
| ZhangManhua | Male | 48 | Supervisor | Incumbent | 0 | Yes |
| LiQinghua | Male | 41 | Supervisor | Incumbent | 0 | Yes |
| WangQiuping | Female | 54 | Employeesupervisor,executivedirectorofITCTechnologyPark,SecretaryofthePartyCommittee | Incumbent | 62.55 | No |
| GuWeimin | Female | 42 | Employeesupervisor,DirectorofDisciplineInspectionOffice,andDeputySecretaryoftheDisciplineInspectionCommission | Incumbent | 48.47 | No |
| ChenHongji | Male | 55 | MemberofthePartyCommittee,ViceGM | Incumbent | 96.65 | No |
| CaiLili | Female | 51 | MemberofthePartyCommittee,ViceGM | Incumbent | 96.65 | No |
| LiPeng | Male | 47 | MemberofthePartyCommittee,ViceGM | Incumbent | 96.65 | No |
| ZhangGejian | Male | 48 | MemberofthePartyCommittee,ViceGM,BoardSecretary | Incumbent | 96.65 | No |
| Total | -- | -- | -- | -- | 1058.461 | -- |
Note:1.PayStatement:(1)Theabovetableofremunerationdoesnotincludethelongtermincentivebonusdeferredtobepaidin2023:LiuShengxiang,WangHangjun,ChenHongji,CaiLili,LiPengandZhangGejianreceiveddeferredlongtermincentivebonusesofRMB397,700,RMB377,800,RMB106,400,RMB288,600,RMB295,900,RMB261,000,respectively,intheyear2023.
(2)Astheassessmentfortheyear2023hasnotbeencompleted,thedataintheabovetableisestimatedaccordingtotherelevantrules,andtheactualnumberofawardswillultimatelyprevail.
Othernotes
□Applicable?Notapplicable
VIPerformanceofDutybyDirectorsintheReportingPeriod
1.BoardMeetingsConvenedduringtheReportingPeriod
| Meeting | Dateofthemeeting | Disclosuredate | Resolutions |
| The16thMeetingofthe10thBoardofDirectors | 27February2023 | ThemeetingreviewedandapprovedtheProposalonSigningPerformanceTargetResponsibilityLettersforSeniorManagementin2023 | |
| The17thMeetingofthe10thBoardofDirectors | 24March2023 | 25March2023 | Theboardofdirectorshasapprovedarangeofproposals,whichincludetheWorkReportoftheBoardofDirectorsfor2022,AnnualReportandSummaryfor2022,FinancialFinalAccountReportfor2022,FinancialBudgetReportfor2023,ProposalonProvisionandReductionofVariousAssetImpairmentReserves,ProposalonProfitDistributionandCapitalizationofReserveFundfor2022,ProposalonComprehensiveCreditLimitsandFinancingLimitsfor2023,ProposalonOperatingPlanandInvestmentBudgetfor2023,ProposalonEstimatedRoutineRelatedPartyTransactionsfor2023,InternalControlSelf-assessmentReportfor2022,ProposalonRenewingtheEngagementofAccountingFirm,andReportonSocialResponsibilityfor2022.Formoredetails,pleaserefertotheAnnouncementofBoardResolutiononthe17thMeetingofthe10thBoardofDirectors(No.2023-03)onwww.cninfo.com.cn. |
| The18thMeetingofthe10thBoardofDirectors | 27April2023 | 28April2023 | TheProposalonConveningthe2022Shareholders'MeetingandtheCompany'sFirstQuarterReportfor2023weredeliberatedandapproved.Fordetails,seetheAnnouncementontheResolutionsofthe18thMeetingofthe10thBoardofDirectors(No.2023-09)onwww.cninfo.com.cn. |
| The19thMeetingofthe10thBoardofDirectors | 25August2023 | 28August2023 | TheSemi-annualReportandSummaryoftheCompanyfor2023andProposalontheFollow-upDevelopmentoftheCompany'sYangzhouShouxihuEcologicalHealthValleyProject(GZ342,GZ399Plots)weredeliberatedandapproved.Fordetails,seetheAnnouncementontheResolutionsofthe19thMeetingofthe10thBoardofDirectors(No.2023-17)onwww.cninfo.com.cn. |
| The20thMeetingofthe10thBoardofDirectors | 27October2023 | 30October2023 | TheProposalontheLong-TermIncentiveSettlementofShenzhenPropertyGroupfor2019-2021,ProposalonthePayoutofLong-TermIncentiveBonusesfor2021,ProposalforthePayoutofDeferredLong-TermIncentive |
| Bonusesfor2022,andDeliberationontheCompany'sThirdQuarterReportof2023weredeliberatedandapproved.Fordetails,seetheAnnouncementontheResolutionsofthe20thMeetingofthe10thBoardofDirectors(No.2023-24)onwww.cninfo.com.cn. | |||
| The21stMeetingofthe10thBoardofDirectors | 3November2023 | 6November2023 | TheProposalonthePublicListingTransferof100%EquityofWholly-ownedSubsidiaryShenzhenJinghengtaiRealEstateDevelopmentCo.,Ltd.andtheProposalonConveningtheFirstExtraordinaryGeneralMeetingof2023weredeliberatedandapproved.Fordetails,seetheAnnouncementontheResolutionsofthe21stMeetingofthe10thBoardofDirectors(No.2023-26)onwww.cninfo.com.cn. |
| The22ndMeetingofthe10thBoardofDirectors | 12December2023 | 13December2023 | TheproposalsdeliberatedandapprovedincludedtheProposalontheResultsoftheCompany's2022ExecutiveAssessmentandItsApplicationPlan,ProposalontheAdjustmentofMembersofthe10thBoardofDirectors'SpecialCommittee,ProposalonAmendingtheArticlesofAssociationoftheCompany,ProposalonRevisingtheRulesofProcedureforGeneralMeetings,ProposalonRevisingtheRulesofProcedureoftheBoardofDirectors,ProposalonRevisingtheWorkingRegulationsforIndependentDirectors,ProposalontheAmendmentandEstablishmentofGovernanceSystemsoftheCompanyLiketheAnnualAuditorSelectionSystem,andProposalonConveningtheSecondExtraordinaryGeneralMeetingof2023.Fordetails,seetheAnnouncementontheResolutionsofthe22ndMeetingofthe10thBoardofDirectors(No.2023-33)onwww.cninfo.com.cn. |
2.AttendanceofDirectorsatBoardMeetingsandGeneralMeetings
| Attendanceofdirectorsatboardmeetingsandgeneralmeetings | |||||||
| Director | Totalnumberofboardmeetingsthedirectorwaseligibletoattend | Boardmeetingsattendedonsite | Boardmeetingsattendedbywayoftelecommunication | Boardmeetingsattendedthroughaproxy | Boardmeetingsthedirectorfailedtoattend | Thedirectorfailedtoattendtwoconsecutiveboardmeetings(yes/no) | Generalmeetingsattended |
| LiuShengxiang | 7 | 1 | 6 | 0 | 0 | No | 3 |
| WangHangjun | 7 | 1 | 6 | 0 | 0 | No | 3 |
| ShenXueying | 7 | 1 | 6 | 0 | 0 | No | 3 |
| WangGe | 7 | 1 | 6 | 0 | 0 | No | 3 |
| XieChang | 7 | 0 | 7 | 0 | 0 | No | 3 |
| MeiYonghong | 7 | 1 | 6 | 0 | 0 | No | 3 |
| LiDonghui | 7 | 1 | 6 | 0 | 0 | No | 3 |
| HuCaimei | 7 | 0 | 7 | 0 | 0 | No | 3 |
| ZhangZhimin | 7 | 1 | 6 | 0 | 0 | No | 3 |
Whyanydirectorfailedtoattendtwoconsecutiveboardmeetings:
Notapplicable
3.ObjectionsRaisedbyDirectorsonMattersoftheCompanyIndicatebytickmarkwhetheranydirectorsraisedanyobjectionsonanymatteroftheCompany.
□Yes?NoNosuchcasesintheReportingPeriod.
4.OtherInformationaboutthePerformanceofDutybyDirectorsIndicatebytickmarkwhetheranysuggestionsfromdirectorswereadoptedbytheCompany.?Yes□NoSuggestionsfromdirectorsadoptedornotadoptedbytheCompany:
DuringtheReportingPeriod,alldirectorsoftheCompanyactivelyattendedBoardmeetingsandgeneralmeetingsandperformedtheirdutiesdiligentlyandconscientiouslyinstrictaccordancewiththeArticlesofAssociation,theRulesofProcedureoftheBoardofDirectorsandrelevantlaws,rulesandregulations.BasedontheCompany'sreality,theyputforwardrelevantopinionsontheCompany'smajorgovernanceandoperationdecisionsandreachedconsensusthroughsufficientcommunicationanddiscussion.Additionally,theyresolutelysupervisedandpromotedtheimplementationoftheresolutionsoftheBoardofDirectors,toensurescientific,timelyandefficientdecision-makingandsafeguardthelegitimaterightsandinterestsoftheCompanyandallshareholders.
VIISpecialCommitteesundertheBoardofDirectorsduringtheReportingPeriod
| Nameofcommittee | Members | Numberofmeetingsconvened | Dateofmeeting | Contents | Importantcommentsandsuggestions | Otherperformanceofduties | Specificdisputedmatters(ifany) |
| AuditandRiskCommittee | LiDonghui,WangHangjun,ZhangZhimin,MeiYonghong,andHuCaimei(adjustedatthe22ndMeetingofthe10thBoardofDirectorsconvenedon12December2023to:LiDonghui,MeiYonghong,HuCaimei,Liu | 5 | 23March2023 | 1.Theproposalforreappointmentoftheaccountingfirmwasreviewedandapproved;2.TheCompany's2022AnnualAuditReportandthe2023AnnualAuditWorkPlanwasreviewed;3.TheInspectionReportontheCompany's2022Guarantee,RelatedPartyTransactionsandOtherMatterswasdeliberated;4.TheCompany's2022FinancialStatementswasvetted;5.TheReportontheAuditofthe | Agree | SupervisingtheworkofexternalauditagenciesandtheCompany'sinternalauditwork;supervisingtheimplementationoftheCompany's |
| Shengxiang,XieChang) | Company's2022AnnualConsolidatedFinancialStatementswasvetted;6.TheReportontheAuditoftheCompany's2022InternalControlwasvetted; | internalcontrolpolicies;coordinatingthecommunicationofthemanagement,internalauditdepartmentsandrelevantdepartmentswithexternalauditagencies. | ||||
| 26April2023 | 1.TheReportontheProgressofAuditWorkintheFirstQuarterof2023wasvetted;2.The2023MajorRiskAssessmentReportwasvetted;3.The2022InternalControlSystemWorkReportwasvetted;4.TheFormforMonitoringSignificantRisksinQ12023wasvetted;and5.TheCompany'sFirstQuarterReportfor2023wasvetted. | Agree | ||||
| 24August2023 | 1.TheSemi-annualReportandSummaryoftheCompanyfor2023wasvetted;TheReportontheProgressofAuditWorkintheSecondQuarterof2023wasvetted;3.TheReportonGuaranteesandRelatedPartyTransactionsInspectionoftheFirstHalfof2023wasvetted;4.TheMonitoringReportonSignificantRisksinQ22023wasvetted;and5.TheReportonPublicSentimentManagementforQ22023wasvetted. | Agree | ||||
| 26October2023 | 1.TheCompany's2023ThirdQuarterlyReportwasvetted.2.TheReportontheProgressofAuditWorkintheThirdQuarterof2023wasvetted;3.TheMonitoringReportonSignificantRisksinQ32023wasvetted;and4.TheReportonPublicSentimentManagementforQ32023wasvetted. | Agree | ||||
| 20December2023 | TheAuditor'sReportontheAuditPlanforthe2023AnnualReportwasreceived. | Agree | ||||
| RemunerationandEvaluationCommittee | HuCaimei,MeiYonghong,LiDonghui,XieChang,ShenXueying | 2 | 25May2023 | TheProposalonthe2022PerformanceEvaluationResultsoftheGroupCompanywasvetted | Agree | Studyingtheassessmentstandards,remunerationpoliciesandplansfortheCompany'sdirectors |
| 1November2023 | 1.The2022AnnualPerformanceEvaluationPlanforSeniorManagementoftheGroupwasdeliberatedandapproved2.The2022IndividualDutyReportsofSeniorManagementof | Agree |
| SZPRDwasreviewedandapproved3.TheCompletionStatusChartforAnnualPerformanceObjectivesofSeniorManagementofSZPRDwasreviewedandapproved4.Thesupplementaryandvetoitemsforthe2022seniormanagementassessmentwasdeliberated5.Therosterofpersonnelaccountableforthe2022seniormanagementassessmentwasdeliberated | andseniormanagementpersonnel;supervisingtheperformanceofdutiesbytheCompany'sdirectorsandseniormanagementpersonnel;conductingannualperformanceassessmentontheCompany'sdirectorsandseniormanagementpersonnelandofferingsuggestions. | |||||
| StrategicDevelopmentandInvestmentDecisionCommittee | LiuShengxiang,WangHangjun,ZhangZhimin,WangGe,XieChang(adjustedatthe22ndMeetingofthe10thBoardofDirectorsconvenedon12December2023to:LiuShengxiang,WangHangjun,ZhangZhimin,WangGe,ShenXueying) | 0 | ||||
| NominationCommittee | MeiYonghong,LiuShengxiang,WangGe,HuCaimei,LiDonghui(adjustedatthe22ndMeetingofthe10thBoardofDirectorsconvenedon12December2023to:MeiYonghong, | 0 |
VIIIPerformanceofDutybytheSupervisoryCommittee
IndicatebytickmarkwhethertheSupervisoryCommitteefoundanyrisktotheCompanyduringitssupervisionintheReportingPeriod.
□Yes?NoTheSupervisoryCommitteeraisednoobjectionsintheReportingPeriod.IXEmployees
1.Number,FunctionsandEducationalBackgroundsofEmployees
ZhangZhimin,WangGe,HuCaimei,LiDonghui)
Numberofin-serviceemployeesoftheCompanyastheparentattheperiod-end
| Numberofin-serviceemployeesoftheCompanyastheparentattheperiod-end | 98 |
| Numberofin-serviceemployeesofmajorsubsidiariesattheperiod-end | 8,719 |
| Totalnumberofin-serviceemployeesattheperiod-end | 8,817 |
| TotalnumberofpaidemployeesintheReportingPeriod | 8,817 |
| NumberofretireestowhomtheCompanyastheparentoritsmajorsubsidiariesneedtopayretirementpensions | 0 |
| Functions | |
| Function | Employees |
| Production | 6,381 |
| Sales | 50 |
| Technical | 1,433 |
| Financial | 174 |
| Administrative | 544 |
| R&D | 38 |
| Managerial | 197 |
| Total | 8,817 |
| Educationalbackgrounds | |
| Educationalbackground | Employees |
| Juniorcollegeandtechnicalsecondaryschoolandabove | 2,852 |
| Seniorhighschoolandbelow | 5,965 |
| Total | 8,817 |
2.EmployeeRemunerationPolicy
ToalignwiththeGroup'sdevelopmentstrategyrequirementsin2023,theGroupimplementedaperformance-basedassessmentandmanagementsystemformanagersofsubordinateenterprises,whichfurtherincreasedtheworkefficiencyandcreatedagoodentrepreneurialatmosphereforofficers.TheGroupheadquartersrigorouslyimplementedseveralcompensationmanagementsystemsandconductedmarket-orientedresearchandrevisiononsubordinatecompanies'organizationalstructuredesign,departmentfunctiondivision,postestablishmentandstaffing,andcompensationandperformancesystem.
3.EmployeeTrainingPlansIn2023,theGroupanditssubsidiarieseachfocusedontheirrespectiveroles,workedtogethertooptimizetalentdevelopmentmechanisms,acceleratedthecultivationofleadershiptalents,conductedspecializedtrainingcoursesforkeypositionsandmid-to-seniorleveltalents,furtherenhancedthebusinessproficiencyandcapabilityqualitiesofthecadreteam,optimizedlearningresources,activatedthe"talentpool"ofinternaltrainers,andfurtherstrengthenedtheinternalempowermentsystem.Itcontinuouslybuiltalearningorganizationandofferedcoursestoenhancemanagementabilities,improveprofessionalskills,andupgradejobskillsforemployeesatalllevels,soastocontinuouslyenhancetheemployees'professionalknowledge,businesscapabilities,andexecutionskills,andrealizethewin-winsituationofcompanydevelopmentandstaffgrowth.
4.LaborOutsourcing
□Applicable?NotapplicableXProfitDistributions(intheFormofCashand/orStock)
Howtheprofitdistributionpolicy,especiallythecashdividendpolicy,wasformulated,executedorrevisedintheReportingPeriod:
?Applicable□NotapplicableOn28December2023,theCompanyrevisedtheShareholders'ReturnPlanfortheNextThreeYears(2023-2025),whichwasconsideredandapprovedattheSecondExtraordinaryGeneralMeetingof2023oftheCompany,withseparatecountingofvotesforsmallandmedium-sizedinvestors,andtheIndependentDirectorsexpressedtheirindependentopinionsontherevisionofthesystem.Fordetails,pleaserefertotheAnnouncementonResolutionsofthe22ndMeetingoftheTenthSessionoftheBoardofDirectors(AnnouncementNo.2023-33)andtheAnnouncementonResolutionsoftheSecondExtraordinaryGeneralMeetingof2023(AnnouncementNo.2023-40)disclosedbytheCompanyon13December2023.
| Specialstatementaboutthecashdividendpolicy | |
| IncompliancewiththeCompany’sArticlesofAssociationandresolutionofgeneralmeeting | Yes |
| Specificandcleardividendstandardandratio | Yes |
| Completedecision-makingprocedureandmechanism | Yes |
| Independentdirectorsfaithfullyperformedtheirdutiesandplayedtheirduerole | Yes |
| SpecificreasonsandthenextstepsitintendstotaketoenhancetheinvestorreturnleveliftheCompanydidnotconductcashdividend: | N/A |
| Non-controllinginterestsareabletofullyexpresstheiropinionanddesireandtheirlegalrightsandinterestsarefullyprotected | Yes |
| Incaseofadjustingorchangingthecashdividendpolicy,theconditionsandproceduresinvolvedareincompliancewith | N/A |
IndicatebytickmarkwhethertheCompanyfailstoputforwardacashdividendproposaldespitethefactsthattheCompanyhasmadeprofitsintheReportingPeriodandtheprofitsoftheCompanyastheparentdistributabletoshareholdersarepositive.
□Applicable?NotapplicableFinaldividendplanfortheReportingPeriod:
?Applicable□Notapplicable
applicableregulationsandtransparentBonussharesforevery10shares(share)
| Bonussharesforevery10shares(share) | 0 |
| Dividendforevery10shares(RMB)(taxinclusive) | 3.12 |
| Totalsharesasthebasisfortheprofitdistributionproposal(share) | 595979092 |
| Cashdividends(RMB)(taxinclusive) | 185,945,476.70 |
| Cashdividendsinotherforms(suchassharerepurchase)(RMB) | 0.00 |
| Totalcashdividends(includingthoseinotherforms)(RMB) | 185,945,476.70 |
| Distributableprofit(RMB) | 1,495,323,958.98 |
| Totalcashdividends(includingthoseinotherforms)as%oftotalprofitdistribution | 100% |
| Cashdividendpolicy | |
| IftheCompanyisinamaturedevelopmentstageandhasnoplansforanysignificantexpenditure,inprofitallocation,theratioofcashdividendsintheprofitallocationshallbe80%orabove. | |
| Detailsabouttheproposalforprofitdistributionandconvertingcapitalreserveintosharecapital | |
| TheBoardhasapprovedafinaldividendplanasfollows:basedonthesharecapitalof595,979,092shares,acashdividendofRMB3.12(taxinclusive)per10sharesistobedistributedtotheshareholders,withnobonusissuefromeitherprofitorcapitalreserves. | |
XIEquityIncentivePlans,EmployeeStockOwnershipPlansorOtherIncentiveMeasuresforEmployees
□Applicable?NotapplicableNosuchcasesintheReportingPeriod.
XIIConstructionandImplementationofInternalControlSystemduringtheReportingPeriod
1.InternalControlConstructionandImplementation
DuringtheReportingPeriod,theCompanyestablished,improvedandeffectivelyimplementedinternalcontrolaccordingtotheBasicCodeforInternalControlofEnterprises,theGuidelinesonInternalControlofListedCompaniesandtheCompany'sactualsituation,toensurethelegitimacyandcomplianceofbusinessandmanagement,guaranteescientificandrationaloperatingproceduresandpromotethenormalandorderlyfunctioningofallmajorprocesses.BuildingontheissuanceoftheGuidelinesfortheConstructionofRisk,InternalControl,andComplianceSystemofSZPRD,theCompanyregularlyreviewedtheweaknessesanddeficienciesintherisk,internalcontrol,andcompliancesystems.Inresponsetonewbusiness,changes,andissues,itspecifiedmeasurestoaddresscomplianceinkeybusinessareasandcriticalprocesses,promptlycarriedoutrelevantsystemabolishment,revision,andestablishmentwork,andorganizedthereleaseofthe
ComprehensiveRiskManagementManualandInternalControlManual.Byformalizingcompliancemanagementexperiencethroughrulesandregulations,theCompanysimultaneouslyconductedspecializedtrainingonriskmanagementandinternalcontrolfor120employees,aimingtoextendinternalcontrolfromthegroupheadquarterstoallsubsidiaries,continuouslyexpandingthemanagementscopeandeffectivelybroadeningthecoverageofriskmanagementandinternalcontrolefforts.
2.MaterialInternalControlWeaknessesIdentifiedfortheReportingPeriod
□Yes?No
XIIIManagementandControlofSubsidiariesbytheCompanyduringtheReportingPeriod
| Nameofcompany | Integrationplan | Integrationprogress | Problemsencounteredinintegration | Solutionstaken | Settlementprogress | Follow-upsettlementplan |
| ShenzhenPropertyManagementCo.,Ltd. | TransferofoperationalmanagementauthoritytoITCPropertyManagementin2023 | Completed | 1.Heavypersonnelburdens;2.Disparitiesexistinthesalaryandbenefitssystem;3.Inabilityofthecadrepooltomeetoperationalneeds | 1.Developaplanfortransferringbusinessmanagementrights;2.Speeduptheenhancementofmoderncorporatesystems,promotethemodernizationofcorporategovernancesystemsandcapabilities,andestablisharobusthierarchicalauthorizationandcontrolsystem;3.Exploreactionstominimizelossesorreverselossesaftertheunithasmovedbeyondthesupportperiodoftheoriginalshareholders,driveongoingqualityimprovementandefficiencygains,andestablishacollaborativebusinessworkingmechanism;4.ResearchtheprofessionaladvantagesofsupportingservicecompaniesinareassuchasElectromechanicalmaintenanceandelevatormaintenance,establishseamlessconnectionsintheupstreamanddownstreamindustrychains,andenhancebusinesssupportcapabilities;and5.Deepenhumanresourcesreform,establishrulesandregulations,establishasoundcompensationmanagementsystem,andcontinuetoadvancemarket-orientedemploymentreform. | Theworkisbeingprogressedaspertheplan. | Noneatthemoment |
| ShenzhenShenfubaoHydropowerMunicipalServiceCo.,Ltd. | TransferofoperationalmanagementauthoritytoITCPropertyManagementin2023 | Completed | 1.Heavypersonnelburdens,severeagingofcadres,andinsufficientreservesofreservecadres;2.Disparitiesexistinthesalaryandbenefitssystem;3.Subparstandardofbusiness;4.Significantpressuretoreducelossesandturnlossesaround. | 1.Developaplanfortransferringbusinessmanagementrights;2.Speeduptheenhancementofmoderncorporatesystems,promotethemodernizationofcorporategovernancesystemsandcapabilities,andestablisharobusthierarchicalauthorizationandcontrolsystem;3.Exploreactionstominimizelossesorreverselossesaftertheunithasmovedbeyondthesupportperiodoftheoriginalshareholders,driveongoingqualityimprovementandefficiencygains,and | Theworkisbeingprogressedaspertheplan. | Noneatthemoment |
| establishacollaborativebusinessworkingmechanism;4.Researchtheprofessionaladvantagesofsupportingservicecompaniesinareassuchashydroelectricmaintenanceandlandscapingmanagement,establishseamlessconnectionsintheupstreamanddownstreamindustrychains,andenhancebusinesssupportcapabilities;and5.Deepenhumanresourcesreform,establishrulesandregulations,establishasoundcompensationmanagementsystem,andcontinuetoadvancemarket-orientedemploymentreform. | ||||||
| ShenzhenShenfubaoPropertyDevelopmentCo.,Ltd. | TransferofoperationalmanagementauthoritytoITCPropertyManagementin2023 | Completed | 1.Heavypersonnelburdens,severeagingofcadres,andinsufficientreservesofreservecadres;2.Disparitiesexistinthesalaryandbenefitssystem;3.Subparstandardofbusiness;4.Significantpressuretoreducelossesandturnlossesaround. | 1.Developaplanfortransferringbusinessmanagementrights;2.Speeduptheenhancementofmoderncorporatesystems,promotethemodernizationofcorporategovernancesystemsandcapabilities,andestablisharobusthierarchicalauthorizationandcontrolsystem;3.Exploreactionstominimizelossesorreverselossesaftertheunithasmovedbeyondthesupportperiodoftheoriginalshareholders,driveongoingqualityimprovementandefficiencygains,andestablishacollaborativebusinessworkingmechanism;4.Researchtheprofessionaladvantagesofsupportingservicecompaniesinareassuchasurbanservices,establishseamlessconnectionsintheupstreamanddownstreamindustrychains,andenhancebusinesssupportcapabilities;and5.Deepenhumanresourcesreform,establishrulesandregulations,establishasoundcompensationmanagementsystem,andcontinuetoadvancemarket-orientedemploymentreform. | Theworkisbeingprogressedaspertheplan. | Noneatthemoment |
| ShenzhenFreeTradeZoneSecurityServiceCo.,Ltd. | TransferofoperationalmanagementauthoritytoITCPropertyManagementin2023 | Completed | 1.Heavypersonnelburdens,severeagingofcadres,andinsufficientreservesofreservecadres;2.Disparitiesexistinthesalaryandbenefitssystem;3.Subparstandardofbusiness;4.Significantpressuretoreducelossesandturnlossesaround. | 1.Developaplanfortransferringbusinessmanagementrights;2.Speeduptheenhancementofmoderncorporatesystems,promotethemodernizationofcorporategovernancesystemsandcapabilities,andestablisharobusthierarchicalauthorizationandcontrolsystem;3.Exploreactionstominimizelossesorreverselossesaftertheunithasmovedbeyondthesupportperiodoftheoriginalshareholders,driveongoingqualityimprovementandefficiencygains,andestablishacollaborativebusinessworkingmechanism;4.Researchtheprofessionaladvantagesofsupportingservicecompaniesinareassuch | Theworkisbeingprogressedaspertheplan. | Noneatthemoment |
| assecurityservice,establishseamlessconnectionsintheupstreamanddownstreamindustrychains,andenhancebusinesssupportcapabilities;and5.Deepenhumanresourcesreform,establishrulesandregulations,establishasoundcompensationmanagementsystem,andcontinuetoadvancemarket-orientedemploymentreform. | ||||||
| ShenzhenForeignTradePropertyManagementCo.,Ltd. | TransferofoperationalmanagementauthoritytoITCPropertyManagementin2023 | Completed | 1.Heavypersonnelburdens,severeagingofcadres,andinsufficientreservesofreservecadres;2.Disparitiesexistinthesalaryandbenefitssystem;3.Subparstandardofbusiness;4.Significantpressuretoreducelossesandturnlossesaround. | 1.Developaplanfortransferringbusinessmanagementrights;2.Speeduptheenhancementofmoderncorporatesystems,promotethemodernizationofcorporategovernancesystemsandcapabilities,andestablisharobusthierarchicalauthorizationandcontrolsystem;3.Exploreactionstominimizelossesorreverselossesaftertheunithasmovedbeyondthesupportperiodoftheoriginalshareholders,driveongoingqualityimprovementandefficiencygains,andestablishacollaborativebusinessworkingmechanism;and4.Deepenhumanresourcesreform,establishrulesandregulations,establishasoundcompensationmanagementsystem,andcontinuetoadvancemarket-orientedemploymentreform. | Theworkisbeingprogressedaspertheplan. | Noneatthemoment |
XIVEvaluationReportorIndependentAuditor’sReportonInternalControl
1.InternalControlEvaluationReport
| Disclosuredateoftheinternalcontrolself-evaluationreport | 30March2024 | |
| Indextothedisclosedinternalcontrolself-evaluationreport | http://www.cninfo.com.cn | |
| Evaluatedentities’combinedassetsas%ofconsolidatedtotalassets | 100.00% | |
| Evaluatedentities’combinedoperatingrevenueas%ofconsolidatedoperatingrevenue | 100.00% | |
| Identificationstandardsforinternalcontrolweaknesses | ||
| Type | Weaknessesininternalcontroloverfinancialreporting | Weaknessesininternalcontrolnotrelatedtofinancialreporting |
| Naturestandard | Seriousdefect:1.thecontrolenvironmentisinvalid;2.Commitmentofmajorfraudbydirectors,supervisorsorseniormanagementoftheCompany;3.theauditinstitutiondiscoveredthecurrentfinancialreporthadgreatdefectwhiletheinternalcontroloftheCompanydidn’tfoundoutduringtheoperatingprocess; | Majordefects:1.Seriousviolationofnationallawsandregulationsleadingtomajorlitigation,orinvestigationofregulatoryagencies,orderedsuspensionofbusinessforrectification,investigationforcriminalresponsibilityorreplacementofseniormanagers;2.Abnormalmajorchangesofdirectors,supervisors,seniormanagementand |
| 4.CorrectionofmajormisstatementinfinancialreportsreportedordisclosedbytheCompany;5.thesupervisionoftheCompany’sAuditandRiskManagementCommitteeandtheinternalauditdepartmentontheinternalcontrolwasinvalid.Importantdefect:1.didn’tabidebytheuniversallyacknowledgedaccountingstandardtochooseandapplytheaccountingpolicies;2.hadnotbuiltuptheanti-fraudprocessandthecontrolmeasures;3.hadnotbuiltupthecorrespondingcontrolmechanismorhadnotexecutedthecorrespondingcompensatingcontrolfortheaccountingtreatmentwhichwasunconventionalorwithspecialtransaction;4.thecontrolduringtheprocessofthefinancialreportattheperiod-endexistedoneormultipledefectsthatcouldnotguaranteethecompileofthefinancialreportreachthegoalofbeingrealandcomplete;5.Importantorgeneraldefectsofinternalcontroltoberectified.Commondefect:referstotheothercontroldefectexceptfortheabovegreatdefectandsignificantdefect. | maintechnicalpersonneloftheCompany;3.Majordecision-makingerrorsduetolackofinternaldemocraticdecision-makingproceduresorunscientificprocedures;4.Seriouslossofcoremanagementortechnicalpersonnel;5.Viciousnegativenewsfrequentlyappearedinthemedia,involvingawiderangeandnegativeexistinginfluence;6.SignificantimpactontheCompany’sproductionandoperationduetolackofsystemcontrolorsystemfailureofimportantbusiness;7.Majordefectsofinternalcontrolevaluationtoberectified;8.AnyothernegativecircumstancesgeneratingsignificantimpactontheCompany.Significantdefects:1.Incompletedemocraticdecision-makingprocessthataffectsproductionandoperationoftheCompany;2.Violationofinternalrulesandregulationsleadingtoimportantlosses;3.ExposureofnegativenewsbythemedialeadingtosignificantimpactontheCompany;4.Importantdefectsofimportantbusinessregulationsorsystemtoberectified;5.AnyothernegativecaseleadingtogreatimpactontheCompany.Commondefects:anyothercontroldefectexceptfortheabovemajorandsignificantdefects. | |
| Quantitativestandard | Seriousdefect:potentialmisstatementoftheoperatingincome≥1%oftheoperatingincomeoftheconsolidatedstatementsoftheCompany,potentialmisstatementofthetotalassetsamount≥0.30%ofthetotalassetsoftheconsolidatedstatementsoftheCompany,potentialmisstatementofthenetassets≥1.00%ofthenetassetsoftheconsolidatedstatementsoftheCompany.Importantdefect:0.50%oftheoperatingincomeoftheconsolidatedstatementsoftheCompany≤misstatement<1%oftheoperatingincomeoftheconsolidatedstatementsoftheCompany;0.15%ofthetotalassetsoftheconsolidatedstatementsoftheCompany≤misstatement<0.30%ofthetotalassetsoftheconsolidatedstatementsoftheCompany,0.5%ofthenetassetsoftheconsolidatedstatementsoftheCompany≤misstatement<1%ofthenetassetsoftheconsolidatedstatementsoftheCompany.Commondefect: | Majordefects:directpropertyloss≥1.00%ofnetassetsofthepreviousyear;Significantdefects:0.5%ofnetassetsofthepreviousyear≤directpropertyloss<1.00%ofnetassetsofthepreviousyear;Commondefects:directpropertyloss<0.5%ofnetassetsofthepreviousyear. |
| misstatementoftheoperatingincome<0.5%oftheoperatingincomeoftheconsolidatedstatementsoftheCompany,misstatementofthetotalassetsamount<0.15%ofthetotalassetsamountoftheconsolidatedstatementsoftheCompany,misstatementofthenetassets<0.5%ofthenetassetsoftheconsolidatedstatementsoftheCompany. | ||
| Numberofmaterialweaknessesininternalcontroloverfinancialreporting | 0 | |
| Numberofmaterialweaknessesininternalcontrolnotrelatedtofinancialreporting | 0 | |
| Numberofseriousweaknessesininternalcontroloverfinancialreporting | 0 | |
| Numberofseriousweaknessesininternalcontrolnotrelatedtofinancialreporting | 0 | |
2.IndependentAuditor’sReportonInternalControl
?Applicable□Notapplicable
| Opinionparagraphintheindependentauditor’sreportoninternalcontrol | |
| WebelievethatShenzhenProperties&ResourcesDevelopment(Group)Ltd.maintainedefficientinternalcontroloffinancialreportsinallsignificantaspectsaccordingto“BasicStandardsofCorporateInternalControl”andrelevantregulations. | |
| Independentauditor’sreportoninternalcontroldisclosedornot | Disclosed |
| Disclosuredate | 30March2024 |
| Indextosuchreportdisclosed | http://www.cninfo.com.cn |
| Typeoftheauditor’sopinion | Unmodifiedunqualifiedopinion |
| Materialweaknessesininternalcontrolnotrelatedtofinancialreporting | None |
Indicatebytickmarkwhetheranymodifiedopinionisexpressedintheindependentauditor’sreportontheCompany’sinternalcontrol.
□Yes?NoIndicatebytickmarkwhethertheindependentauditor’sreportontheCompany’sinternalcontrolisconsistentwiththeinternalcontrolself-evaluationreportissuedbytheCompany’sBoard.?Yes□No
XVRemediationofProblemsIdentifiedbySelf-inspectionintheSpecialActionontheGovernanceofListedCompaniesNotapplicable.
PartVEnvironmentalandSocialResponsibilityIMajorEnvironmentalIssues
IndicatebytickmarkwhethertheCompanyoranyofitssubsidiariesisaheavilypollutingbusinessidentifiedbytheenvironmentalprotectionauthoritiesofChina.
□Yes?NoAdministrativepenaltiesimposedforenvironmentalissuesduringtheReportingPeriod
| Nameofthecompanyorsubsidiarycompany | Penaltyreason | Violationsituation | Penaltyresult | Impactontheproductionandoperationofthelistedcompanies | RemediationmeasuresoftheCompany |
| N/A | N/A | N/A | N/A | N/A | N/A |
OtherenvironmentalinformationdisclosedwithreferencetokeyemissionunitsTheCompanyattachesgreatimportancetoenvironmentalprotectionandstrictlyimplementsrelevantlawsandregulations.DuringtheReportingPeriod,nomajorenvironmentalviolationsoccurredandnoadministrativepenaltieswereimposedonenvironmentalprotection.In2023,HuangchengRealEstateCompany,asubsidiaryoftheCompany,hadconstructionprojects:theHumenSeaBayProjectinDongguanandGuangmingYutangShangfuProjectinShenzhen,whichwerebothlocatednearmajorroadsintheareasandclosetoresidentialcommunitiesandmunicipalroads,withstrictecologicalrequirementsforallenvironmentalwork.Sincethecommencementofconstruction,effortshavebeenmadetoactivelycarryoutpollutionprevention,pollutioncontrol,dustprevention,noisereduction,andotherworkstoenhancethesatisfactionofthesurroundingresidents.Theenvironmentalriskpreventionresponsibilitiesoftheprojectmanagementdepartmentwerediligentlycarriedout,withactivecooperationwithenvironmentalregulatorypersonnelforon-siteinspections,strictadherencetoenvironmentalimpactassessmentand"threesimultaneous"requirements,andthestandardizationofmethodsforwastewaterdischarge,dustreduction,andnoisereduction.TheprojectsunderconstructioninHumenSeaBayandGuangmingYutangShangfuareplannedwithmeasuresconducivetoenvironmentalprotectionandpollutioncontrol.Therequirementisforenvironmentalprotectionandpollutioncontrolfacilitiestobedesigned,constructed,andutilizedsimultaneouslywiththemainengineeringworks.Variouspollutants(suchasexhaustgas,wastewater,garbage,industrialwasteresidue,noise,oilpollution,andvariousradioactiveandnon-radioactivepollutantscontainedinbuildingmaterials)andalltypesofbuildingmaterialsshallbeeffectivelymanagedandmeettherequiredstandards.Theconstructionprojects,LanhuTimesPhase1andPhase2,ofRongyaoRealEstateCompany,asubsidiaryoftheCompany,aresituatednearthemainthoroughfareOsmanthusRoadintheGuanlanarea.Thevicinityoftheprojectsispredominantlyindustrialparks,withanationalenvironmentalmonitoringstationandaschooltothesouthofthesite,andresidentialbuildingsatthenortheastcornerofthesite.Sincethecommencementofconstruction,theprojecthasestablishedanorganizationalstructureforpollutionpreventionandcontrolmanagementandasystemofpollutionpreventionandcontrolmeasures.Theoverallplanningincorporatesmeasuresfavorabletoenvironmentalprotectionandpollutioncontrol,makingfulluseoftheterrainandstrictlyimplementingthesoilandwaterconservationplan.ActionstakentoreducecarbondioxideemissionsduringtheReportingPeriodandtheimpact:
□Applicable?NotapplicableReasonsfornotdisclosingotherenvironmentalinformationNeithertheCompanynoranyofitssubsidiariesisaheavilypollutingbusinessidentifiedbytheenvironmentalprotectionauthoritiesofChina.
IISocialResponsibility
(1)Annualtaxpaymentsandcashdividends.ShenzhenPropertyGroupanditssubsidiariesfulfilledataxpaymentobligationofRMB42.87millioninthefiscalyear2023anddistributedacashdividendofRMB215,148,500toshareholdersaspertheCompany'sbylawsandshareholderresolutions.Inthefiscalyear2023,ShenzhenPropertyGroupshowcasedexceptionaloperationalresultsandfinancialstability,demonstratingitstaxcomplianceawarenessandsenseofresponsibility.Thisalsoindicatesasoundfinancialpositionandaconsistentgrowthinprofitability,fosteringamutuallybeneficialrelationshipbetweentheCompanyanditsshareholders.TheseaccomplishmentsnotonlyshowcasetheCompany'sfinancialprowessandgovernancecompetenciesbutalsoexemplifyitscommitmenttoethicalbusinesspracticesandsocialresponsibility.Infuturedevelopment,ShenzhenPropertyGroupwillcontinuetomaintainaprudentbusinessstrategyandsoundfinancialcondition,creatingmorevalueforitsshareholdersandsociety.
(2)Solvingunemploymentproblems.ShenzhenPropertyGroupanditsaffiliatedenterprisesprovidedatotalof221positionstothesocietyin2023,hiringatotalof1,369individuals,including18freshgraduates,34militaryveterans,and4disabledindividuals.ShenzhenPropertyGroupactivelyembracedsocialresponsibilitybyactivelyadvancingastrategyoftalentdiversification,bringingnewvigorandinnovativecapabilitiestoitsdevelopment.Asasociallyresponsiblecompany,ShenzhenPropertyGroupconsistentlyadherestoapeople-orienteddevelopmentphilosophy,emphasizingtalentrecruitmentandcultivation,whilealsomakingpositivecontributionstosocialharmonyandstability.
(3)Employeecare.Inordertostrengthenthepeople-centereddevelopmentphilosophyandimplementtheGroup'sworkmechanismofassistanceindepth,thePartyCommitteeoftheShenzhenPropertyGroupheldasymposiumtoextendregardtotheemployeesindifficultyandthesymposiumof"July1st"PartymembersinneedbeforetheSpringFestival.BeforetheSpringFestivalemployeewelfareeventforthoseinneed,theGroupconductedanoverallandscrupulousinvestigation,identificationandcategory-basedregistrationandrecord,andconfirmed55personsasthetargetsinneedofassistance,including12Partymembersindifficulty.Atotalof4Partymembersinneedwerecomfortedduringthe"July1st"eventforPartymembersfacingdifficulties.Inordertosafeguardthesafetyoffrontlineworkersoperatinginhotweatherconditions,thegeneralPartybranchofWuheUrbanRenewalCompanyandYangzhouShouxihuJingyueCompany,bothsubsidiariesofShenzhenPropertyGroup,organizedthe"deliverbeveragestoconstructionsites,poolsolidarityandstrengthtofacilitatedevelopment"event,providingcoolingteaandrefreshingdrinkstofrontlineworkers.
(4)Carryoutblooddonationactivity.ShenzhenPropertyGroup'ssubsidiary,ITCPropertyManagement,isfullycommittedtocreatinga"VirtueCulture"centeredaroundvolunteeractivities,whichhaslaunchedthe"redflag,redaction"publicwelfareblooddonationcampaignacrossvariousenterprisesnationwide.Overthepasttwoyears,thescopeofpublicwelfareblooddonationactivitieshasexpandedfromtheShenzhenregiontoencompasstheentirecountry.In2023,atotalof730individualsparticipated,with560successfullydonatingblood,amountingtoatotalvolumeof190,700ml.The"redflag,redaction"campaignstartedin2011andhasnowheldtwelvesessions.Ithasorganizedatotalof1,171instancesofvoluntaryblooddonationbyPartymembersandthepublic,withacumulativeblooddonationvolumeexceeding399,600ml.
(5)LonghuaDistrictGeneralUnion'scharitabledonations.TheRongyaoRealEstateCompany,asubsidiaryofShenzhenPropertyGroup,activelyrespondedtothegovernment'scalltoparticipateindonationactivities,whichdonatedatotalofRMB5,000totheLonghuaDistrictGeneralUnion,tobeusedforcaringfornewformsofemploymentworkersinLonghuaDistrict,workersontheedgeofdifficulty,childrenofworkersinneed,conductingemergencyreliefandwarmthinitiatives,promotingcharitableactivities,publicizingpublicwelfareprojects,andpurchasingmaterials.
IIIEffortsinPovertyAlleviationandRuralRevitalization
SZPRDanditsaffiliatedbusinessorganisationsorganisedandcarriedoutconsumptionassistanceactivity,andspentRMB1,620,000intotalontheprocurementofagriculturalproductsthroughconsumptionassistancein2023.
PartVISignificantEventsIFulfillmentofCommitments
1.CommitmentsoftheCompany’sActualController,Shareholders,RelatedPartiesandAcquirers,aswellastheCompanyItselfandotherEntitiesFulfilledintheReportingPeriodorOngoingatthePeriod-end?Applicable□Notapplicable
| Commitment | Promisor | Typeofcommitment | Detailsofcommitment | Dateofcommitmentmaking | Termofcommitment | Fulfillment |
| Commitmentsmadeinacquisitiondocumentsorshareholdingalterationdocuments | ShenzhenInvestmentHoldingsCo.,Ltd.(SIHC) | Commitmentsonhorizontalcompetition,related-partytransactionsandcapitaloccupation | Wholly-ownedsubsidiaryShenzhenConstructionDevelopmentandmajority-ownedsubsidiarySPGofSIHCdealwithrealestateoperationandcommercialhousesales,whichbelongtothesameindustryoftheListedCompany,andhashorizontalcompetitionwiththeListedCompany.Toavoidhorizontalcompetition,SIHCmakethefollowingcommitment.1 | 6September2018 | Threeyears | Normalperformance2 |
| Commitmentsmadeinacquisitiondocumentsorshareholdingalterationdocuments | ShenzhenInvestmentHoldingsCo.,Ltd. | Commitmentsonhorizontalcompetition,related-partytransactionsandcapitaloccupation | ToreduceandstandardizerelatedtransactionswiththeListedCompany,SIHCmakesthefollowingcommitment.3 | 6September2018 | Long-term | Normalperformance |
| Fulfilledontime | Yes | |||||
Note1:Wholly-ownedsubsidiaryShenzhenConstructionDevelopmentandmajority-ownedsubsidiarySPGofSIHCdealwithrealestateoperationandcommercialhousesales,whichbelongtothesameindustryoftheListedCompany,andhashorizontalcompetitionwiththeListedCompany.Toavoidhorizontalcompetition,SIHCmakethefollowingcommitments:1.OnthehorizontalcompetitionsolutionofShenzhenConstructionDevelopment:astheholdingshareholderoftheListedCompany,duringthelistingperiodatShenzhenStockExchangeoftheListedCompany,asforthecurrentbusinessofShenzhenConstructionDevelopmentwhichhashorizontalcompetitionwiththeListedCompany,withinthescopepermittedbylawandregulation,within
12monthsfromtheequityofSZPRDbeingtransferredtoSIHC,SIHCwillstartthesolutionwithpracticaloperabilityamongbelowhorizontalcompetitionsolutiontimelyandcompleteimplementationofthesolutionwithin3yearsfromthedatethattheequityofSZPRDistransferredtoSIHCtosolvecurrenthorizontalcompetitionproblems:(1)ShenzhenConstructionDevelopmentsignsassetcustodyagreementwiththeListedCompany,entruststheassetswhichhasdirectcompetitionwiththeListedCompanytotheListedCompany,confirmsfaircustodianfeeatthesametime,andtakeseffectivemeasurestosolvehorizontalcompetitionwithincommitmentperiod;(2)InjectassetswithdirectcompetitionwiththeListedCompanyintotheListedCompany;(3)TransferassetswithdirectcompetitionwiththeListedCompanytounrelatedthirdparty;(4)othermeasureswhichcansolvehorizontalcompetitioneffectivelyandisfavorableforprotectingtheinterestoftheListedCompanyandlegalinterestsofothershareholders.Beforesolvingcurrenthorizontalcompetition,whilecompany,enterprise,economicorganization(notincludingenterprisescontrolledbytheListedCompany,hereinafterreferredtoassubordinatedCompanies)whichtheListedCompanyandSIHCholdcontrollingsharesorcontrolsactuallyhavebusiness,incasetheinvolveddispute,etc.havemajorinfluenceonthebusiness,SIHCshouldkeepneutralasacontrollingshareholdertoensurethattheListedCompanyandsubordinatedCompaniescantakepartinmarketcompetitionontheprincipleoffaircompetition.2.HorizontalcompetitionsolutionofSPG:From14September2016tonow,SPGhashadstocksuspensionbecauseofmajorassetsrestructuring.AccordingtoReviewOpinionsonDelayingStockResumptionbecauseofMajorAssetsRestructuringofSPGannouncedbyCITICSecuritiesandHuataiSecuritieson26November2016,therestructuringsolutionisthatSPGplanstoissueAshareand/orusecurrencytopurchase100%equityofEvergrandeGroup(hereinafterreferredtoas“therestructuringofSPG”).On9November2020,SPGissuedanannouncementthatthecurrentconditiontocontinuetopromotethemajorassetsrestructuringwasnotsoundyetbasedonthecurrentmarketenvironmentanddecidedtoterminatethistransactiontosafeguardinterestsofthecompanyandallshareholders.Aftertheterminationofthistransaction,SIHCisstillthecontrollingshareholderofSPG.ForbusinessofSPGwhichhashorizontalcompetitionwiththeListedCompany,SIHC,withinthescopepermittedbylawandregulation,SIHCwillstartarationalhorizontalcompetitionsolutionaccordingtoactualsituationatthetimewithin12monthsaftertheterminationofreconstructionofSPGandstockresumptionannouncementdate,andfulfillannouncementobligation,andSPGwillcompletetoimplementthesolutionandsolvethehorizontalcompetitionbetweenSZPRDandSPGwithin3yearsfromthedateSPGterminatesthereconstructionandannouncesstockresumption.3.Othercommitmentstoavoidhorizontalcompetition:asthecontrollingshareholderoftheListedCompanyandduringthelistingperiodoftheListedCompanyatShenzhenStockExchange,othersubordinatedCompaniesofSIHCwillnotengageinrelevantbusinesswhichhasdirecthorizontalbusinesscompetitionwiththeListedCompanyinnewbusinessfieldsexceptforinthebusinessfieldwhereitalreadyhashadhorizontalcompetitionwiththeListedCompany.ShenzhenInvestmentHoldingspromisesnottoseekimproperbenefitswiththepositionofcontrollingshareholderoftheListedCompanyanddamagetheinterestoftheListedCompanyanditsshareholders.Incaseofviolatingabovecommitment,SIHCshallundertakecorrespondinglegalliabilities,includingbutnotlimitedtoundertakingcompensationresponsibilitiesforalllossescausedtotheListedCompany.Note2:SIHChasalwaysbeenactivelycommittedtofulfillingitsrelevantcommitments.Duringthetermofcommitment,SIHCdidnotseekanyillegitimateinterestsasthecontrollingshareholdingofSZPRDordamageanyrightsandinterestsofSZPRDanditsshareholders.Duringthetermofcommitment,SIHCactivelycollatedtheunderlyingassetsandbusinessesofShenzhenConstructionDevelopment(Group)CompanyanddevoteditselftodevelopingpracticalandfeasibleplansassoonaspossibletosolvethehorizontalcompetitionissueforSZPRD.ItalsoactivelypromotedtherestructuringofSPG.However,giventheobjectivecircumstances,SIHCfailedtofulfilltheoriginalcommitmenttoavoidhorizontalcompetition.SIHCre-issuedtheLetteronChangingtheCommitmenttoAvoidingHorizontalCompetitionon31August2021andsuchcommitmentchangematterwasapprovedatthefirstextraordinarygeneralmeetingof2021heldon27September2021.Formoredetails,seetheAnnouncementontheApplicationbytheCompany'sControllingShareholderforChangingtheCommitmenttoAvoidingHorizontalCompetition(AnnouncementNo.:2021-32)disclosedbytheCompanyonwww.cninfo.com.cnon11September2021.Note3:ToreduceandstandardizerelatedtransactionswiththeListedCompany,ascontrollingshareholderoftheListedcompanyandduringthelistingperiodoftheListedCompanyatShenzhenExchangeStock,SIHCpromises:1.SIHCanditscontrollingor
actuallycontrolledcompanies,enterprises,economicorganizations(notincludingenterprisescontrolledbytheListedCompany,hereinafterreferredtoasthe“subordinatedcompanies”)willstrictlyexercisetherightsofshareholdersaccordingtoprovisionsoflaws,regulations,andothernormativedocuments,andfulfilltheobligationsofshareholders,andkeeptheindependenceoftheListedCompanyinassets,finance,employees,businessandagency,etc.2.SIHCpromisesnottouseitspositionofcontrollingshareholdertopromoteboardofshareholdersorboardofdirectorstomakeresolutionswhichmaydamagethelegalinterestoftheListedCompanyorothershareholders;3.SIHCanditssubordinatedcompanieswilltrytheirbesttoavoidhavingrelatedtransactionswiththeListedCompany.IncasethetransactionwiththeListedCompanyisinevitable,SIHCanditssubordinatedcompanieswillhavetransactionwiththeListedCompanyonthebasisofequalityandfreewill,accordingtofair,rationalandnormalcommercialtransactionconditions,willnotrequireoracceptconditionswhichismorepreferentialthantheListedCompanygivestothethirdpartyinanyfairmarkettransactions,andstrictlyfulfillvariousrelatedtransactionswiththeListedCompanywithgoodwill.4.SIHCanditssubordinatedcompanieswillstrictlyfulfilldecisionmakingproceduresandrelevantinformationdisclosureobligationsofrelatedtransactionsaccordingtoarticlesofassociationoftheListedCompanyandrelevantlawsandregulations.5.SIHCanditssubordinatedcompanieswillmakesurethattheywillnotseekspecialinterestsbeyondabovestipulationsbyhavingrelatedtransactionswiththeListedCompany,willnotuserelatedtransactionstoillegallytransferfundsandprofitsoftheListedCompanyandtomaliciouslydamagethelegalinterestsoftheListedCompanyanditsshareholders.6.AsforcurrentrelatedtransactionwiththeListedCompany,withinthescopepermittedbylawsandregulations,SIHCpromisestoconfirmrationalrelatedtransactionsolutionwithin12monthsaftertheCompanysharesaretransferredtoSIHC,andcompletetoimplementthesolutionwithin5yearsaftertheCompanysharesaretransferredtoSIHC,tosolvesuchrelatedtransactionscompletely.Thespecificformsinclude:(1)Aftercurrentrelatedtransactioncontractexpires,itwillnotberenewed.IncasecontractrenewalisnecessaryaccordingtotheoperationneedsoftheListedCompany,itwillfulfillrelevantdecisionmakingproceduresstrictlyaccordingtoproceduresofrelatedtransactions.(2)Underthepreconditionofpossiblerealization,terminatecontractwhichisbeingfulfilled,andadoptmarketizedandopenbidinvitation,etc.,inquireagainonserviceitemsinvolvedinsuchrelatedtransactionstoconfirmappropriateserviceprovider.Incaserelatedtransactionisinvolved,itshouldfulfillrelevantdecisionmakingproceduresaccordingtorelatedtransactionprocedures.(3)Incasethereispossibilityofpricere-negotiationintherelatedtransactioncontractwhichisbeingfulfilled,conductpricenegotiationagain,makethecontractamountafterre-pricingconformtomarketpriceandnothigherthantheamountofcontractwhichisbeingfulfilled,andstrictlyfulfillrelevantdecisionmakingproceduresaccordingtorelatedtransactionprocedures.(4)Otherappropriatemeasureswhichcanreduceandfinallyeliminatecurrentrelatedtransactionbutnotnecessary.7.Incaseofviolatingabovecommitments,SIHCshallundertakecorrespondinglegalliabilities,includingbutnotlimitedtoundertakingcompensationliabilityforallthelossescausedtotheListedCompany.
2.WheretherehadbeenanearningsforecastforanassetorprojectandtheReportingPeriodwasstillwithintheforecastperiod,explainwhytheforecasthasbeenreachedfortheReportingPeriod.
□Applicable?Notapplicable
IIOccupationoftheCompany’sCapitalbytheControllingShareholderorItsRelatedPartiesforNon-OperatingPurposes
□Applicable?NotapplicableNosuchcasesintheReportingPeriod.
IIIIrregularitiesintheProvisionofGuarantees
□Applicable?Notapplicable
NosuchcasesintheReportingPeriod.IVExplanationsGivenbytheBoardofDirectorsRegardingtheLatest“ModifiedOpinion”IssuedbytheIndependentAuditor
□Applicable?Notapplicable
VExplanationsGivenbytheBoardofDirectors,theSupervisoryBoardandtheIndependentDirectors(ifany)RegardingtheIndependentAuditor's“ModifiedOpinion”ontheFinancialStatementsoftheReportingPeriod
□Applicable?NotapplicableVIYoYChangestoAccountingPoliciesandEstimatesandCorrectionofMaterialAccountingErrors?Applicable□NotapplicableAsofJanuary1,2023,theCompanyadoptstherelevantprovisionsofAccountingStandardsInterpretationforBusinessEnterprisesNo.16(CK(2022)No.31).Forasingletransactionthatisnotabusinesscombination,doesnotaffectaccountingprofitortaxableincome(ordeductibleloss)atthetimeofthetransaction,andtheinitialrecognitionofassetsandliabilitiesresultsinanequalamountoftaxabletemporarydifferenceanddeductibletemporarydifference(includingaleasetransactioninwhichthelesseeinitiallyrecognizestheleaseliabilityonthebeginningdateoftheleasetermandcreditstherighttouseassets),Aswellasduetotheexistenceoffixedassetsandotherdisposalobligationstorecognizetheprojectedliabilitiesandincludethecostoftherelevantassets,hereinafterreferredtoasthesingletransactionapplicabletothisinterpretation),doesnotapplytotheAccountingStandardsforBusinessEnterprises18-IncometaxArticle11(2),13ontheexemptionoftheinitialrecognitionofdeferredincometaxliabilitiesanddeferredincometaxassetsprovisions.Forthetaxabletemporarydifferencesanddeductibletemporarydifferencesarisingfromtheinitialrecognitionofassetsandliabilitiesofthetransaction,theenterpriseshallrecognizethecorrespondingdeferredincometaxliabilitiesanddeferredincometaxassetsrespectivelyatthetimeofthetransactioninaccordancewiththerelevantprovisionsofAccountingStandardforBusinessEnterprisesNo.18-IncomeTax.TheCompanyhasretroactivelyadjustedthecomparativeaccountingstatementsandcumulativeimpactfiguresbasedontheaboveaccountingpolicychanges,resultinginthefollowingimpacts:
| Contentandreasonofchangestoaccountingpolicies | Statement | Nameandamountofstatementitemmateriallyaffected |
| Attheinitiationoftheleasetransaction,thelesseeacknowledgestheleaseliabilityandincorporatestheright-of-useassetwithoutexemptingtheinitialrecognitionofdeferredtaxliabilitiesandassets,resultingintherecognitionoftherespectivedeferredtaxliabilitiesanddeferredtaxassetsatthetransactionoccurrence. | Consolidatedbalancesheets | OnDecember31,2022theimpactofdeferredtaxassetsisRMB24,500,761.16,theimpactofdeferredtaxliabilitiesisRMB22,737,325.56,theimpactofsurplusreservesisRMB5,970.29,theimpactofretainedearningsisRMB1,697,650.08,andtheimpactofminorityinterestisRMB59,815.23. |
| consolidatedincomestatement | TheimpactofincometaxexpenseisRMB330,314.64in2022. | |
| BalancesheetoftheCompanyastheParent | OnDecember31,2022theimpactofdeferredtaxassetsisRMB869,290.80,theimpactofdeferredtaxliabilitiesisRMB809,587.96,theimpactofsurplusreservesisRMB5,970.29,andtheimpactofretainedearningsisRMB53,732.55. | |
| IncomestatementoftheCompanyastheParent | TheimpactofincometaxexpenseisRMB2,195.78in2022. |
| Contentandreasonofchangestoaccountingpolicies | Statement | Nameandamountofstatementitemmateriallyaffected |
| Attheinitiationoftheleasetransaction,thelesseeacknowledgestheleaseliabilityandincorporatestheright-of-useassetwithoutexemptingtheinitialrecognitionofdeferredtaxliabilitiesandassets,resultingintherecognitionoftherespectivedeferredtaxliabilitiesanddeferredtaxassetsatthetransactionoccurrence. | Consolidatedbalancesheets | OnDecember31,2022theimpactofdeferredtaxassetsisRMB24,500,761.16,theimpactofdeferredtaxliabilitiesisRMB22,737,325.56,theimpactofsurplusreservesisRMB5,970.29,theimpactofretainedearningsisRMB1,697,650.08,andtheimpactofminorityinterestisRMB59,815.23. |
| consolidatedincomestatement | TheimpactofincometaxexpenseisRMB330,314.64in2022. | |
| BalancesheetoftheCompanyastheParent | OnDecember31,2022theimpactofdeferredtaxassetsisRMB869,290.80,theimpactofdeferredtaxliabilitiesisRMB809,587.96,theimpactofsurplusreservesisRMB5,970.29,andtheimpactofretainedearningsisRMB53,732.55. | |
| IncomestatementoftheCompanyastheParent | TheimpactofincometaxexpenseisRMB2,195.78in2022. |
VIIYoYChangestotheScopeoftheConsolidatedFinancialStatements
?Applicable□NotapplicableForthedetailedchangestothescopeoftheCompany’sconsolidatedstatementsoftheReportingPeriod,see“PartXFinancialStatements”,IXChangestotheScopeoftheConsolidatedFinancialStatements.VIIIEngagementandDisengagementofIndependentAuditorCurrentindependentauditor:
| Nameofthedomesticindependentauditor | BakerTillyChinaCertifiedPublicAccountants(LLP) |
| TheCompany’spaymenttothedomesticindependentauditor(RMB’0,000) | 95 |
| HowmanyconsecutiveyearsthedomesticindependentauditorhasprovidedauditservicefortheCompany | 4years |
| Namesofthecertifiedpublicaccountantsfromthedomesticindependentauditorwritingsignaturesontheauditor’sreport | ChenZihan,ZhongQinfang |
| HowmanyconsecutiveyearsthecertifiedpublicaccountantshaveprovidedauditservicefortheCompany | FouryearsforChenZihan,twoyearsforZhongQinfang |
IndicatebytickmarkwhethertheindependentauditorwaschangedfortheReportingPeriod.
□Yes?NoIndependentauditor,financialadvisororsponsorengagedfortheauditofinternalcontrols:
?Applicable□NotapplicableInthisReportingPeriod,theCompanyengagedBakerTillyChinaCertifiedPublicAccountants(LLP)foritsinternalcontrolauditandpaidaninternalcontrolauditfeeofRMB0.2milliontoitfortheperiod.
IXPossibilityofDelistingafterDisclosureofthisReport
□Applicable?Notapplicable
XInsolvencyandReorganization
□Applicable?NotapplicableNosuchcasesintheReportingPeriod.
XIMajorLegalMatters
?Applicable□Notapplicable
| Generalinformation | Involvedamount(RMB’0,000) | Provision | Progress | Decisionsandeffects | Executionofdecisions | Disclosuredate | Indextodisclosedinformation |
| ArbitrationcaseofpropertycontractdisputebetweentheFourthOwners'CommitteeofShenzhenNanshanDistrictSoftwarePark(Applicant)andShenzhenITCTechnologyParkServiceCo.,Ltd.(Respondent1),theBranchinHigh-TechZone(Respondent2)forSoftwareParkPhaseI.TheApplicantrequestedanawardtotheRespondent1and2toreturntheowners'publicrevenueandbeartheattorney'sfees. | 73.53 | Not | Closed | Arbitrationawardsontwocasesweregivenon23and24March2023successively.Accordingtotheconclusionofarbitrationawards,theHigh-techZoneBranchshouldreturnapproximatelyRMB540,000ofpublicrevenuetotheOwners'CommitteeofShenzhenNanshanDistrictSoftwarePark(inspiteofRMB32millionrequestedbytheOwners'Committee)andbearapartofarbitrationfee;inregardtothearbitrationcasebetweentheITCTechnologyParkCompanyandtheOwners'CommitteeofShenzhenNanshanDistrictSoftwarePark,allrequestsofthelatterhavebeenrejectedbythearbitrationtribunal(inspiteofRMB13millionrequestedbytheOwners'Committee). | Asaresultoftheturnoverintheowners'committee,thenewcommitteehasnotbeenformedyet,andthereisnocorporateaccount.Discussionshavetakenplacewiththecourt,leadingtoatemporarysuspensionofpayment. | ||
| ShenzhenQitianSunshineHotelManagementCo.,Ltd.(plaintiff)suedShenZhenProperties&ResourcesDevelopment(Group)Ltd.(defendant)forpropertyleasingcontractdispute,requestingthedefendanttopaycompensationforinteriordecorationoftherelocatedhouseandrelocationfeeoftheleasedhouseandtoreturnthesubsidyfeeoftheleasedhouse,etc.ThefirstinstancejudgmentreadsthattheplaintiffShenzhenQitianSunshineHotel | 105.09 | Not | ShenzhenQitianSunshineHotelManagementCo.,Ltd.filedaretrial. | ThecourtofsecondinstancehasrejectedtheappealrequestofQitianSunshineHotelandupheldtheoriginalverdict | Enforcement,retrialprocess |
| ManagementCo.,Ltd.shallpayrentofRMB1,050,913.6tothedefendantShenZhenProperties&ResourcesDevelopment(Group)Ltd.within10daysfromtheeffectivedateofthisjudgment.Thesecond-instancecourtrejectedtheappealfromQitianHotel,upheldtheoriginalverdict,andQitianHotelhasnowappliedforretrial. | |||||||
| SincetheviolationoftheEquityTransferContractfortheUrbanRenewalProjectinBanglingCommunity,GuanlanSubdistrict,LonghuaDistrict,ShenzhenCitycommittedbytheShenzhenXinhaiRongyaoRealEstateDevelopmentCo.,Ltd.constitutedmaterialbreachofcontract,accordingtoprovisionsofthecontract,theCompanyisentitledtorequireShenzhenXinhaiRongyaoRealEstateDevelopmentCo.,Ltd.topaycompensationforitsinvestmentlossatanannualinterestrateof11%ofthecapitaltheCompanyinvestedintheLanhuShidaiproject.Therefore,theCompanyfiledanarbitration. | 17,133.68 | Not | ThecasewasheardatShenzhenCourtofInternationalArbitrationon14December2023,andiscurrentlywaitingforthedecision. | Notyet | Notyet | ||
| On26February2019,theCompanysignedRepaymentAgreementwithRongyaoRealEstate,ShenzhenXinhaiRongyaoRealEstateDevelopmentCo.,Ltd.andShenzhenXinhaiHoldingCo.,Ltd.Fordetails,seeAnnouncementontheSigningofRepaymentAgreement(AnnouncementNo.:2019-9)disclosedbytheCompanyonhttp://www.cninfo.com.cn.AccordingtoprovisionsoftheRepaymentAgreement,ShenzhenXinhaiRongyao | 72,218.22 | Not | Thecasenowentersthestageofappointingarbitratortosetuparbitraltribunal.Afterward,therespondentfiledanappealforconfirmationofforceofthe | Notyet | Notyet | 9June2023 | Fordetails,pleaserefertotheAnnouncementonMajorArbitrationofSubsidiary(No.:2023-13)disclosedbytheCompanyonCninfo. |
| RealEstateDevelopmentCo.,Ltd.andShenzhenXinhaiHoldingCo.,Ltd.acknowledgetosettletheirdebtstoRongyaoRealEstate.However,ShenzhenXinhaiInvestmentDevelopmentCo.,Ltd.,ShenzhenChengjianRealEstateManagementCo.,Ltd.,ShenzhenLianghongIndustryCo.,Ltd.andShenzhenHuayeTianchengInvestmentCo.,Ltd.,astheirguarantorswhoassumejointandseveralliability,failedtosettlealldebtsasrequiredbytheagreement.Therefore,RongyaoRealEstatefiledanarbitration. | arbitrationagreementtotheShenzhenIntermediatePeople'sCourt,resultinginthesuspensionofthearbitrationcourt'strialonthecase.Aftertheconfirmationofforceofthearbitrationagreementisconcludedbythecourt,thearbitrationcourtwillinformbothpartiesoftherecoveryofthearbitrationproceedings. | ||||
| Summaryofothercontractdisputes | 9,681 | SeePartXFinancialReport-XVI-2 | SeePartXFinancialReport-XVI-2 | SeePartXFinancialReport-XVI-2 | SeePartXFinancialReport-XVI-2 |
XIIPunishmentsandRectifications
□Applicable?NotapplicableNosuchcasesintheReportingPeriod.
XIIICreditQualityoftheCompanyaswellasItsControllingShareholderandActualController
□Applicable?Notapplicable
XIVMajorRelated-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 |
| ShenzhenBayTechnologyDevelopmentCo.,Ltd. | Wholly-ownedsubsidiaryoftheCompanyastheparent | Related-partytransactionsgoverningsalesofcommodityandprovidingoflabors | Propertymanagementservices | Propertymanagementservices | Propertymanagementservices | 7,892.39 | 5.00% | 6,904.25 | Yes | Cash | 7,892.39 | 25March2023 | AnnouncementonEstimatedContinuingRelated-partyTransactionsin2023(No.:2023-05)disclosedonCninfo |
| HebeiShenbaoInvestmentDevelopmentCo.,Ltd. | Sub-subsidiaryoftheCompanyastheparent | Related-partytransactionsgoverningsalesofcommodityandprovidingoflabors | Propertymanagementservicesandengineeringservices | Propertymanagementservices | Propertymanagementservices | 4,016.66 | 2.54% | 3,574.01 | Yes | Cash | 4,016.66 | 25March2023 | |
| ShenzhenBayTechnologyDevelopmentCo.,Ltd. | Wholly-ownedsubsidiaryoftheCompanyastheparent | Related-partytransactionsgoverningpurchaseofcommodityandprovidingoflabors | Managementservices | Marketprinciple | Agreementprice | 6,248.1 | 4.74% | 8,160 | No | Cash | 6,248.1 | 25March2023 | |
| ShenzhenShentouRealEstateDevelopme | Wholly-ownedsubsid | Trusteeship | Trusteemanagement | Marketprinciple | Agreementprice | 6,164.06 | 40.59% | 6,361.61 | No | Cash | 6,164.06 | 25March2023 |
| ntCo.,Ltd. | iaryoftheCompanyastheparent | servicesofhouses | |||||||||||
| Total | -- | -- | 24,321.21 | -- | 24,999.87 | -- | -- | -- | -- | -- | |||
| Large-amountsalesreturnindetail | N/A | ||||||||||||
| GivetheactualsituationintheReportingPeriod(ifany)whereanestimatehadbeenmadeforthetotalvalueofcontinuingrelated-partytransactionsbytypetooccurintheReportingPeriod | Thetotalamountofdailyrelated-partytransactionsoftheCompanyin2023isexpectedtobeRMB342,640,300,andtheactualtotalamountisRMB381,397,000.Inpredictingtheroutinerelatedpartytransactionsfortheyear2023,theCompanyprimarilyconsideredmarketconditionsandthebusinessneedsofbothpartiestoestimatepotentialtransactionamounts.Theactualfiguresmightdeviateduetofactorslikethedevelopmentofbothentities'businesses,actualrequirements,andspecificexecutiontimelines.SuchdiscrepanciesweredeemednormalbusinessconductandwerenotexpectedtohaveasignificantimpactontheCompany'sroutineoperationsorfinancialresults.Formoredetails,seetheAnnouncementonEstimatedContinuingRelated-partyTransactionsin2024releasedonthesamedateasthisreport. | ||||||||||||
| Reasonforanysignificantdifferencebetweenthetransactionpriceandthemarketreferenceprice(ifapplicable) | N/A | ||||||||||||
2.Related-PartyTransactionsRegardingPurchaseorSalesofAssetsorEquityInterests
□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 | 20,150 | 20,150 | ||||
| Shenzhen | Minority | Business | No | 33,047.29 | 33,047.29 |
| XinhaiRongyaoRealEstateDevelopmentCo.,Ltd. | shareholderofthesubsidiaryRongyaoRealEstate | circulatingfundsbeforeacquisition | |
| 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 | 4,229.67 | 4,229.67 | ||||
| ShenzhenTian’anInternationalBuildingPropertyManagementCo.,Ltd. | Jointventure | Intercoursefunds | 521.43 | 521.43 | ||||
| InfluenceontheCompany’soperatingresultsandfinancialcondition | AllwerewithintheriskscontroloftheCompanyandnotinfluencedtheoperatingresultsandthefinancialconditions. | |||||||
5.TransactionswithRelatedFinanceCompanies
□Applicable?NotapplicableTheCompanydidnotmakedepositsin,receiveloansorcreditfromandwasnotinvolvedinanyotherfinancebusinesswithanyrelatedfinancecompanyoranyotherrelatedparties.
6.TransactionswithRelatedPartiesbyFinanceCompaniesControlledbytheCompany
□Applicable?NotapplicableThefinancecompanycontrolledbytheCompanydidnotmakedeposits,receiveloansorcreditfromandwasnotinvolvedinanyotherfinancebusinesswithanyrelatedparties.
7.OtherMajorRelated-PartyTransactions
□Applicable?NotapplicableNosuchcasesintheReportingPeriod.
XVMajorContractsandExecutionthereof
1.Entrustment,ContractingandLeases
(1)Entrustment
□Applicable?NotapplicableNosuchcasesintheReportingPeriod.
(2)Contracting
□Applicable?NotapplicableNosuchcasesintheReportingPeriod.
(3)Leases
□Applicable?NotapplicableNosuchcasesintheReportingPeriod.
2.Majorguarantees
?Applicable□Notapplicable
Unit:RMB'0,000
| GuaranteesprovidedbytheCompanyastheparentanditssubsidiariesforexternalparties(exclusiveofthoseforsubsidiaries) | ||||||||||
| Obligor | Disclosuredateoftheguaranteelineannouncement | Lineofguarantee | Actualoccurrencedate | Actualguaranteeamount | Typeofguarantee | Collateral(ifany) | Counterguarantee(ifany) | Termofguarantee | Havingexpiredornot | Guaranteeforarelatedpartyornot |
| GuaranteesprovidedbytheCompanyforitssubsidiaries | ||||||||||
| Obligor | Disclosuredateoftheguaranteelineannouncement | Lineofguarantee | Actualoccurrencedate | Actualguaranteeamount | Typeofguarantee | Collateral(ifany) | Counterguarantee(ifany) | Termofguarantee | Havingexpiredornot | Guaranteeforarelatedpartyornot |
| ShenzhenRongyaoRealEstateDevelopmentCo.,Ltd. | 18October2019 | 500,000 | 27November2019 | 321,812 | Joint-liability | Equity,landuseright | 2019.11.27-2026.3.17 | No | Yes | |
| TotalapprovedlineforsuchguaranteesintheReportingPeriod(B1) | TotalactualamountofsuchguaranteesintheReportingPeriod(B2) | 21,892.77 | ||||||||
| Totalapprovedline | 500,000 | Totalactualbalance | 321,811.77 | |||||||
| forsuchguaranteesattheendoftheReportingPeriod(B3) | ofsuchguaranteesattheendoftheReportingPeriod(B4) | |||||||||
| Guaranteesprovidedbetweensubsidiaries | ||||||||||
| Obligor | Disclosuredateoftheguaranteelineannouncement | Lineofguarantee | Actualoccurrencedate | Actualguaranteeamount | Typeofguarantee | Collateral(ifany) | Counterguarantee(ifany) | Termofguarantee | Havingexpiredornot | Guaranteeforarelatedpartyornot |
| Totalguaranteeamount(totalofthethreekindsofguaranteesabove) | ||||||||||
| TotalguaranteelineapprovedintheReportingPeriod(A1+B1+C1) | TotalactualguaranteeamountintheReportingPeriod(A2+B2+C2) | 21,892.77 | ||||||||
| TotalapprovedguaranteelineattheendoftheReportingPeriod(A3+B3+C3) | 500,000 | TotalactualguaranteebalanceattheendoftheReportingPeriod(A4+B4+C4) | 321,811.77 | |||||||
| Totalactualguaranteeamount(A4+B4+C4)as%oftheCompany’snetassets | 69.03% | |||||||||
| Ofwhich: | ||||||||||
| Balanceofdebtguaranteesprovideddirectlyorindirectlyforobligorswithanover70%debt/assetratio(E) | 321,811.77 | |||||||||
| Totalofthethreeamountsabove(D+E+F) | 321,811.77 | |||||||||
Compoundguarantees:
3.CashEntrustedtoOtherEntitiesforManagement
(1)CashEntrustedforWealthManagement
□Applicable?NotapplicableNosuchcasesintheReportingPeriod.
(2)EntrustedLoans
□Applicable?NotapplicableNosuchcasesintheReportingPeriod.
4.OtherMajorContracts
□Applicable?NotapplicableNosuchcasesintheReportingPeriod.
XVIOtherSignificantEvents?Applicable□Notapplicable
(1)MattersonthePublicListingTransferof100%EquityofWholly-ownedSubsidiaryShenzhenJinghengtaiRealEstateDevelopmentCo.,Ltd.DuringtheReportingPeriod,the21stmeetingofthe10thBoardofDirectorsandthefirstextraordinarygeneralmeetingofshareholdersin2023deliberatedandapprovedtheProposalonthePublicListingTransferof100%EquityofWholly-ownedSubsidiaryShenzhenJinghengtaiRealEstateDevelopmentCo.,Ltd.,whichauthorizedthepubliclistingtransferof100%equityofShenzhenJinghengtaiRealEstateDevelopmentCo.,Ltd.(hereinafterreferredtoas"JinghengtaiCompany")ontheShenzhenUnitedEquityExchange.On22December2023,JinghengtaiCompanyreceivedtheRegistrationNoticeissuedbytheShenzhenMarketSupervisionAdministration.Thebusinessregistrationproceduresrelatedtothisequitytransfertransactionhavebeencompleted,transferring100%equityofJinghengtaiCompanytoHualianHoldings.TheCompanynolongerholdsanyequityinJinghengtaiCompany.Fordetails,seetheAnnouncementonthePublicListingTransferof100%EquityofWholly-ownedSubsidiaryShenzhenJinghengtaiRealEstateDevelopmentCo.,Ltd.(AnnouncementNo.:2023-28),theAnnouncementonProgressofthePublicListingTransferof100%EquityofWholly-ownedSubsidiaryShenzhenJinghengtaiRealEstateDevelopmentCo.,Ltd.(AnnouncementNo.:2023-31),andtheAnnouncementonProgressofthePublicListingTransferof100%EquityofWholly-ownedSubsidiaryShenzhenJinghengtaiRealEstateDevelopmentCo.,Ltd.(AnnouncementNo.:2023-37)issuedbytheCompanyonwww.cninfo.com.cn.
XVIISignificantEventsofSubsidiaries
□Applicable?Notapplicable
PartVIIShareChangesandShareholderInformation
IShareChanges
1.ShareChanges
Unit:share
| Before | Increase/decrease(+/-) | After | |||||||
| Shares | Percentage(%) | Newissues | Sharesasdividendconvertedfromprofit | Sharesasdividendconvertedfromcapitalreserves | Other | Subtotal | Shares | Percentage(%) | |
| 1.Restrictedshares | 1,898,306 | 0.32% | 0 | 0 | 0 | 0 | 0 | 1,898,306 | 0.32% |
| 1.1Sharesheldbythestate | 0 | 0.00% | 0 | 0 | 0 | 0 | 0 | 0 | 0.00% |
| 1.2Sharesheldbystate-ownLegal-person | 3,326 | 0.00% | 0 | 0 | 0 | 0 | 0 | 3,326 | 0.00% |
| 1.3Sharesheldbyotherdomesticinvestors | 1,894,980 | 0.32% | 0 | 0 | 0 | 0 | 0 | 1,894,980 | 0.32% |
| Amongwhich:sharesheldbydomesticlegalperson | 1,894,980 | 0.32% | 0 | 0 | 0 | 0 | 0 | 1,894,980 | 0.32% |
| Sharesheldbydomesticnaturalperson | 0 | 0.00% | 0 | 0 | 0 | 0 | 0 | 0 | 0.00% |
| 1.4Overseashareholdings | 0 | 0.00% | 0 | 0 | 0 | 0 | 0 | 0 | 0.00% |
| Amongwhich:sharesheldbyoversealegalperson | 0 | 0.00% | 0 | 0 | 0 | 0 | 0 | 0 | 0.00% |
| Sharesheldbyoverseanaturalperson | 0 | 0.00% | 0 | 0 | 0 | 0 | 0 | 0 | 0.00% |
| 2.Unrestrictedshares | 594,080,786 | 99.68% | 0 | 0 | 0 | 0 | 0 | 594,080,786 | 99.68% |
| 2.1RMBordinaryshares | 526,475,543 | 88.34% | 0 | 0 | 0 | 0 | 0 | 526,475,543 | 88.34% |
| 2.2Domesticallylistedforeignshares | 67,605,243 | 11.34% | 0 | 0 | 0 | 0 | 0 | 67,605,243 | 11.34% |
| 2.3Oversealistedforeignshares | 0 | 0.00% | 0 | 0 | 0 | 0 | 0 | 0 | 0.00% |
| 2.4Other | 0 | 0.00% | 0 | 0 | 0 | 0 | 0 | 0 | 0.00% |
| 3.Totalshares | 595,979,092 | 100.00% | 0 | 0 | 0 | 0 | 0 | 595,979,092 | 100.00% |
Reasonsforsharechanges:
□Applicable?NotapplicableApprovalofsharechanges:
□Applicable?NotapplicableTransferofshareownership:
□Applicable?NotapplicableEffectsofsharechangesonthebasicanddilutedearningspershare,equitypershareattributabletotheCompany’sordinaryshareholdersandotherfinancialindicatorsoftheprioryearandtheprioraccountingperiod,respectively:
□Applicable?NotapplicableOtherinformationthattheCompanyconsidersnecessaryorisrequiredbythesecuritiesregulatortobedisclosed:
?Applicable□NotapplicableTheCompanyreceivednotificationfromShenzhenInvestmentHoldingsCo.,Ltd.("SIHC"),thecontrollingshareholderoftheCompany,thatduetotheexecutionofacourtjudgment,1,730,300restrictedsharesoftheCompanyheldbyShenzhenDuty-FreeCommodityEnterprisesCo.,Ltd.hadbeentransferredtothenameofSIHC.ThenumberofsharesoftheCompanyheldbySIHCanditsconcertpartiesincreasedfrom339,452,527shares(representing56.957%ofthetotalsharecapitaloftheCompany)to341,182,827shares(representing57.247%ofthetotalsharecapitaloftheCompany).Fordetails,pleaserefertotheAnnouncementontheChangeofControllingShareholders'Equity(No.2024-04)disclosedbytheCompanyon6March2024onCninfo.
2.ChangesinRestrictedShares
□Applicable?Notapplicable
II.IssuanceandListingofSecurities
1.Securities(ExclusiveofPreferredShares)IssuedintheReportingPeriod
□Applicable?Notapplicable
2.ChangestoTotalShares,ShareholderStructureandAssetandLiabilityStructures
□Applicable?Notapplicable
3.ExistingStaff-HeldShares
□Applicable?NotapplicableIIIShareholdersandActualController
1.ShareholdersandTheirShareholdingsatthePeriod-End
Unit:share
| Numberofordinaryshareholders | 41,547 | Numberofordinaryshareholdersatthemonth-endpriortothedisclosureofthisReport | 40,432 | Numberofpreferredshareholderswithresumedvotingrights(ifany) | 0 | Numberofpreferredshareholderswithresumedvotingrightsatthemonth-endpriortothedisclosureofthisReport(ifany) | 0 | |
| 5%orgreatershareholdersortop10shareholders(Excludingthosewholendsharesthroughrefinancing) | ||||||||
| Nameofshareholder | Natureofshareholder | Shareholdi | Totalshares | Increase/dec | Restrictedsharesheld | Unrestrictedsharesheld | Shares,markedinpledgeorfrozen | |
| ngpercentage | heldattheperiod-end | reaseintheReportingPeriod | Status | Shares | ||||
| ShenzhenInvestmentHoldingsCo.,Ltd. | State-ownedlegalperson | 50.57% | 301,414,637 | 0 | 3,326 | 301,411,311 | ||
| ShenzhenState-ownedEquityManagementCo.,Ltd. | Domesticnon-state-ownedlegalperson | 6.38% | 38,037,890 | 0 | 0 | 38,037,890 | ||
| ChinaOrientAssetManagementCo.,Ltd. | State-ownedlegalperson | 2.77% | 16,491,402 | 0 | 0 | 16,491,402 | ||
| HongKongSecuritiesClearingCompanyLtd. | Foreignlegalperson | 0.58% | 3,469,347 | 2,496,834 | 0 | 3,469,347 | ||
| DuanShaoteng | Domesticnaturalperson | 0.30% | 1,760,565 | 5,000 | 0 | 1,760,565 | ||
| ShenzhenDuty-FreeCommodityEnterprisesCo.,Ltd. | Domesticnon-state-ownedlegalperson | 0.29% | 1,730,300 | 0 | 1,730,300 | 0 | ||
| YangYaochu | Domesticnaturalperson | 0.28% | 1,690,984 | 50,000 | 0 | 1,690,984 | ||
| IndustrialandCommercialBankofChinaLimited－SouthernChinaSecuritiesFullIndexRealEstateTradingOpen-endedIndexSecuritiesInvestmentFund | Other | 0.27% | 1,638,834 | 527,300 | 0 | 1,638,834 | ||
| WangZhong | Domesticnaturalperson | 0.27% | 1,580,000 | 1,580,000 | 0 | 1,580,000 | ||
| LiXinyi | Domesticnaturalperson | 0.25% | 1,500,000 | 0 | 0 | 1,500,000 | ||
| Strategicinvestororgenerallegalpersonbecomingatop-10ordinaryshareholderduetorightsissue(ifany) | N/A | |||||||
| Relatedoracting-in-concertpartiesamongtheshareholdersabove | Thelargestshareholder,ShenzhenInvestmentHoldingsCo.,Ltd.,isthecontrollingshareholderoftheCompanyandShenzhenState-ownedEquityManagementCo.,Ltd.AndtheCompanydoesnotknowwhethertherearerelatedpartiesoracting-in-concertpartiesamongtheothershareholders. | |||||||
| Explainifanyoftheshareholdersabovewasinvolvedinentrusting/beingentrustedwithvotingrightsorwaivingvotingrights | N/A | |||||||
| Specialaccountforsharerepurchases(ifany)amongthetop10shareholders | N/A | |||||||
| Top10unrestrictedshareholders | ||||||||
| Nameofshareholder | Unrestrictedsharesheldattheperiod-end | Sharesbytype | |
| Type | Shares | ||
| ShenzhenInvestmentHoldingsCo.,Ltd. | 301,411,311 | RMBcommonshare | 301,411,311 |
| ShenzhenState-ownedEquityManagementCo.,Ltd. | 38,037,890 | RMBcommonshare | 38,037,890 |
| ChinaOrientAssetManagementCo.,Ltd. | 16,491,402 | RMBcommonshare | 16,491,402 |
| HongKongSecuritiesClearingCompanyLtd. | 3,469,347 | RMBcommonshare | 3,469,347 |
| DuanShaoteng | 1,760,565 | RMBcommonshare | 1,760,565 |
| YangYaochu | 1,690,984 | Domesticallylistedforeignshare | 1,690,984 |
| IndustrialandCommercialBankofChinaLimited－SouthernChinaSecuritiesFullIndexRealEstateTradingOpen-endedIndexSecuritiesInvestmentFund | 1,638,834 | RMBcommonshare | 1,638,834 |
| WangZhong | 1,580,000 | RMBcommonshare | 1,580,000 |
| LiXinyi | 1,500,000 | RMBcommonshare | 1,500,000 |
| MaiFurong | 1,244,596 | Domesticallylistedforeignshare | 1,244,596 |
| Relatedoracting-in-concertpartiesamongtop10unrestrictedpublicshareholders,aswellasbetweentop10unrestrictedpublicshareholdersandtop10shareholders | Thelargestshareholder,ShenzhenInvestmentHoldingsCo.,Ltd.,isthecontrollingshareholderoftheCompanyandShenzhenState-ownedEquityManagementCo.,Ltd.AndtheCompanydoesnotknowwhethertherearerelatedpartiesoracting-in-concertpartiesamongtheothershareholders. | ||
| Top10ordinaryshareholdersinvolvedinsecuritiesmargintrading(ifany) | N/A | ||
Top10shareholdersinvolvedinrefinancingbusinessthroughlendingshares
□Applicable?NotapplicableChangeinTop10shareholderscomparedwiththelastperiod?Applicable□Notapplicable
Unit:share
| ChangeinTop10shareholderscomparedwithlastperiod | |||||
| Nameofshareholders(fullname) | Add/exitintheReportingPeriod | Shareslentforrefinancingandnotreturnedyetattheperiod-end | SharesheldbyshareholdersthroughtheirgeneralaccountsandcreditaccountsandShareslentforrefinancingandnotreturnedyetattheperiod-end | ||
| Totalamount | %oftotalsharecapital | Totalamount | %oftotalsharecapital | ||
| HongKongSecuritiesClearingCompanyLtd. | Add | 0 | 0.00% | 3,469,347 | 0.58% |
| IndustrialandCommercialBankofChinaLimited－SouthernChinaSecuritiesFull | Add | 0 | 0.00% | 1,638,834 | 0.27% |
| IndexRealEstateTradingOpen-endedIndexSecuritiesInvestmentFund | |||||
| WangZhong | Add | 0 | 0.00% | 1,580,000 | 0.27% |
| MaiFurong | Exit | 0 | 0.00% | 1,244,596 | 0.21% |
| CITICSecuritiesCompanyLimited | Exit | 0 | 0.00% | 1,038,364 | 00.17% |
| ShenzhenHengbangZhaofengPrivateEquityFundManagementCo.,Ltd.-HengbangXiangshangWin-WinGrowthNo.1PrivateEquityInvestmentFund | Exit | 0 | 0.00% | 0 | 0.00% |
Indicatebytickmarkwhetheranyofthetop10ordinaryshareholdersorthetop10unrestrictedordinaryshareholdersoftheCompanyconductedanypromissoryrepoduringtheReportingPeriod.
□Yes?NoNosuchcasesintheReportingPeriod.
2.ControllingShareholderNatureofthecontrollingshareholder:Controlledbyalocalstate-ownedlegalpersonTypeofthecontrollingshareholder:legalperson
| Nameofcontrollingshareholder | Legalrepresentative/personincharge | Dateofestablishment | Unifiedsocialcreditcode | Principalactivity |
| ShenzhenInvestmentHoldingsCo.,Ltd. | HeJianfeng | 13October2004 | 914403007675664218 | ToexecuteinvestmentsandM&Aonfinancialequitysuchasbanks,securities,insurance,fundsandguaranteesandpseudo-bankingequity;toengageinthepropertydevelopmentandoperationbusinesswithinthescaleoflegallyacquirethelanduseright;toexecuteinvestmentsandservicesinstrategicemergingindustry;toexecutetheinvestment,operatingandmanagementofthestate-ownedequitiesofthewholly-owned,controllingandstock-participatingenterprisesthroughthemethodssuchastherestructuringintegration,capitaloperationandassetsdisposal;otherbusinessdevelopedwiththeauthorityfromtheMunicipalState-ownedAssetsSupervisionandAdministrationCommission(iftheactivityneedsapprovalasrequiredbystateregulations,itshallnotbeoperateduntilitisapproved). |
| ShareholdingsofthecontrollingshareholderinotherlistedcompaniesathomeorabroadinthisReportingPeriod | OtherlistedcompaniesathomeorabroadinthisReportingPeriodcontrolledbytheCompany’scontrollingshareholderincluding:ShenzhenTextileA(000045),SPGA(000029),ShenzhenUniverseA(000023),Ping’an(601318),GuosenSecurities(002736),GuotaiJun’an(601211),TellingTelecommunication(000829),International(00152),BeautyStar(002243),BayAreaDevelopment(00737),Infinova(002528),EternalAsia(002183),ShenzhenEnergy(000027),BankofCommunications(601328),Techand(300197),Vanke(02202),etc. | |||
ChangeofthecontrollingshareholderintheReportingPeriod:
□Applicable?NotapplicableThecontrollingshareholderremainedthesameintheReportingPeriod.
3.ActualControllerandItsActing-in-ConcertPartiesNatureoftheactualcontroller:localinstitutionforstate-ownedassetsmanagementTypeoftheactualcontroller:legalperson
| Nameofactualcontroller | Legalrepresentative/personincharge | Dateofestablishment | Unifiedsocialcreditcode | Principalactivity |
| ShenzhenMunicipalState-ownedAssetsSupervisionandAdministrationCommission | WangYongjian | 1July2004 | 11440300K317280672 | (I)Implementingandpracticingstate,provincialandmunicipallawsandregulationsrelatedtomanagementonstate-ownedassets,draftinglocallaws,regulations,andpoliciesaboutmanagementonstate-ownedassets,andorganizingimplementationactivitiesuponapprovals.Intendingtodraftsupervisionsystemsandmethodsaboutoperationalstate-ownedassets,andorganizingimplementationactivities.(II)Onthebasisofauthorizationfrommunicipalgovernment,fulfillingdutiesofinvestorsaccordingtolawsandregulations,andprotectingtherightsandinterestsofinvestorsforstate-ownedassetsaccordingtolaws(III)TakingchargeofParty-buildingworkforenterprisesinitssupervisionandorgansentrusted(IV)Undertakingthesupervisionoverstate-ownedassetsofmunicipalenterprises,strengtheningmanagementonstate-ownedassets,furtherperfectingthemanagementmechanismforstate-ownedassetswiththeunificationofpower,obligation,andduties,aswellasthecombinationofmanagingassets,people,andaffairs(V)Beingresponsibleforhedgingandappreciationofthevalueofstate-ownedassetsofenterprisesinitssupervision,establishingandperfectingtheindexsystemforhedgingandappreciationofthevalueofstate-ownedassets,settingoutassessmentstandards,supervisingonhedgingandappreciationofthevalueofstate-ownedassetsofenterprisesinitssupervisionbystatistics,audit,andcheck,andurgingenterprisesinitssupervisiontofulfillsocialduties(VI)Inchargeofresearchingandpreparingthegeneralplanningfortransformationanddevelopmentofstate-ownedenterpriseinitssupervision,guidingandboostingtransformationandre-organizationofstate-ownedenterprises,promptingtheconstructionofmodernenterprisesystem,carryingforwardoperationofstate-ownedcapital,pushingthestrategicadjustmentonstate-ownedeconomylayoutandstructure,and |
| makingstate-ownedcapitalplaytheroleinsignificantindustriesandkeyfieldsincludingnationalsecurity,nationaleconomylifeline,etc.(VII)Directingandpropellingenterprisesinitssupervisiontoperfectcompanygovernancestructure,intensifyingconstructionofBoardandSupervisionCommitteesofenterprisesinitssupervision,andformingthegovernancemechanismwithspecificduties,coordinatingoperation,andeffectivecounterbalance(VIII)Assumingthemanagementworkofincomedistributionforenterprisesinitssupervision,andstandardizingtheincomedistributionandposition-relatedconsumptionoverpeopleinchargeofenterprisesinitssupervision(IX)InlinewithrulesofmunicipalPartycommittee,appointinganddismissing,appraising,aswellas,inaccordancewithbusinessperformance,rewardingandpunishingpeopleinchargeofenterprisesinitssupervisionbyapplyinglegalprocedures,establishingthemechanismofselectingandchoosingcandidatesmeetingtherequirementsofsocialistmarketeconomysystemandmodernenterprisesystem,andperfectingtheincentiveandcontrolsystemforoperators(X)Beingresponsibleforappointingorrecommendingboarddirectors,supervisors,CFOstoenterprisesinitssupervision,andauditingoneconomicdutiesofpeopleinchargeofenterprisesinitssupervisionaccordingtorulesaboutmanagementauthorizationtopeopleinchargeofenterprises(XI)Inchargeofpreparingthedraftofbudgetsandfinalaccountsofannualstate-ownedcapitalofenterprisesinitssupervision,includingittothegovernmentbudgetsystem,organizingtheexecutionuponapprovals,andcollectingearningsofstate-ownedcapitalhandedinbyenterprisesinitssupervision(XII)Inchargeofstrategyresearch,policyformulation,andguidancefortransformation,development,andassetmanagementrelatedtocollectively-ownedenterprises(XIII)Assumingotherassignmentsassignedbymunicipalgovernmentandsuperiordepartments | ||
| Shareholdingsoftheactualcontrollerinotherlistedcompaniesathomeorabroadin | ListedcompaniessuchastheShenzhenAirport,YTP,ShenzhenEnergy,ShenzhenZhenye,ShenzhenTagenandSDGI. | |
ChangeoftheactualcontrollerintheReportingPeriod
□Applicable?NotapplicableTheactualcontrollerremainedthesameintheReportingPeriod.OwnershipandcontrolrelationsbetweentheactualcontrollerandtheCompany:
IndicatebytickmarkwhethertheactualcontrollercontrolstheCompanyviatrustorotherwaysofassetmanagement.
□Applicable?Notapplicable
4.NumberofAccumulativePledgedSharesheldbytheCompany’sControllingShareholderortheLargestShareholderaswellasItsActing-in-ConcertPartiesAccountsfor80%ofallsharesoftheCompanyheldbyThem
□Applicable?Notapplicable
5.Other10%orGreaterCorporateShareholders
□Applicable?Notapplicable
6.LimitationsonShareholdingDecreasebytheCompany’sControllingShareholder,ActualController,ReorganizerandOtherCommitmentMakers
□Applicable?Notapplicable
IVSpecificImplementationofShareRepurchaseduringtheReportingPeriod
Progressonanysharerepurchase
□Applicable?NotapplicableProgressonreducingtherepurchasedsharesbymeansofcentralizedbidding
□Applicable?Notapplicable
PartVIIIPreferenceShares
□Applicable?NotapplicableNopreferencesharesintheReportingPeriod.
PartIXBonds
□Applicable?Notapplicable
PartXFinancialStatements
I.Auditor’sReport
| Typeoftheindependentauditor’sopinion | Unmodifiedunqualifiedopinion |
| Dateofsigningthisreport | 29March2024 |
| Nameoftheindependentauditor | BakerTillyChinaCertifiedPublicAccountants(LLP) |
| ReferencenumberofAuditReport | BakerTillyYZ[2024]No.20153 |
| Nameofthecertifiedpublicaccountants | ChenZihan,ZhongQinfang |
TextoftheAuditor’sReport
BakerTillyYZ[2024]No.20153AllshareholdersofShenzhenProperties&ResourcesDevelopment(Group)Ltd.:
1.OpinionWehaveauditedthefinancialstatementsofShenzhenProperties&ResourcesDevelopment(Group)Ltd.(the“Company”),whichcomprisetheconsolidatedandparentcompanybalancesheetsasof31December2023,theconsolidatedandparentcompanystatementsofincome,cashflowsandchangesinshareholders’equityfortheyearthenended,aswellasthenotestothefinancialstatements.Inouropinion,thefinancialstatementsreferredtoabovepresentfairly,inallmaterialrespects,theconsolidatedandparentcompanyfinancialpositionoftheCompanyat31December2023,andtheconsolidatedandparentcompanyoperatingresultsandcashflowsfortheyearthenended,inconformitywiththeChineseAccountingStandards(CAS).
2.BasisforOpinionWeconductedourauditsinaccordancewiththeAuditStandardsforChineseRegisteredAccountants.OurresponsibilitiesunderthosestandardsarefurtherdescribedintheAuditor’sResponsibilitiesforAuditofFinancialStatementssectionofourreport.WeareindependentoftheCompanyinaccordancewiththeChinaCodeofEthicsforCertifiedPublicAccountants,andwehavefulfilledourotherethicalresponsibilitiesinaccordancewiththesaidCodeofEthics.Webelievethattheauditevidencewehaveobtainedissufficientandappropriatetoprovideabasisforouropinion.
3.KeyaudititemsKeyaudititemsaretheitemsthatareconsideredmostimportantfortheauditofthecurrentfinancialstatementsbasedonourprofessionaljudgment.Theresponsetotheseitemsisbasedontheauditofthefinancialstatementsasawholeandtheformationofauditopinions.Wedonotcommentontheseitemsseparately.
| Keyaudititem | Auditresponse |
| 1.Recognitionandmeasurementofrevenuefromrealestatedevelopmentandsales | |
| Keyaudititem | Auditresponse |
| SZPRDachievedarevenueofRMB1.235billionfromrealestatedevelopmentprojectsin2023,accountingfor41.64%ofthetotaloperatingrevenue.SZPRDconfirmsrevenuefromrealestatedevelopmentprojectswhenallthefollowingconditionsaremet:(1)Realestateproductsofsalescontractsunderdevelopmentarecompletedandaccepted;(2)Irreversiblesalescontractsaresignedandbuyers’paymentcertificatesarereceived;(3)Noticeofpropertyacceptanceisissued.TherecognitionandmeasurementofrevenuefromrealestatebusinesshasasignificantimpactontheoperatingresultsofSZPRD,whichmaybeinaccuratelymeasuredorrecognizedinimproperaccountingperiod.Therefore,weregardtherecognitionandmeasurementofrealestatedevelopmentandsalesrevenueaskeyauditissues.Foraccountingpoliciesanddetailsofrevenuefromrealestatedevelopmentandsales,pleaserefertoNoteIII,(39),VI,(39)tothefinancialstatement. | Ourauditproceduresforthiskeyauditissueinclude:Understandingandsamplingkeycontrolmeasuresrelatedtopropertysalesbusinesstoevaluatetheeffectivenessofimplementationofcontrolprocedures.Obtainingandreviewingcompletionacceptancedocumentsofprojects;reviewingpropertysalescontractsandverifyingtheauthenticityofrevenuefrompropertysalesrecognizedinthisyear;checkingoriginalcollectioncertificatesorcertificatesofbankmortgageprocedurestodeterminewhetherfullpaymentamountisreceived;reviewingadmissionnoticeorothersupportingdocumentsondeliveryofpropertiestoevaluatewhetherrevenuefrompropertysalesmeetstheconditionsforrevenuerecognitionasstipulatedbytheCompany’saccountingpolicy.Obtainingandreviewingsupportingdocumentsforpropertydeliverybeforeandafterthebalancesheetdatetoevaluatewhetherrevenuefrompropertysalesisrecordedinproperaccountingperiod. |
2.Assessmentofthenetrealizablevalueofinventory
| 2.Assessmentofthenetrealizablevalueofinventory | |
| Asof31December2023,thetotalamountofinventory,includingdevelopmentcosts,developedproducts,andlandintendedfordevelopment(referredtoas"inventory"),hadacarryingvalueofRMB11,090million,accountingfor65.32%ofthetotalassets.Theinventoryismeasuredatalowercostandnetrealizablevalue.Themanagementdeterminesthenetrealizablevalueofeachinventoryitemasofthebalancesheetdate.Intheassessmentofthenetrealizablevalueofinventory,themanagementisrequiredtomakethebestestimatesoftheconstructioncoststhatwillbeincurredwheneachplannedandunder-constructiondevelopmentproductreachescompletion,andalsoestimatetheexpectedfuturenetsellingpriceofeachinventoryitemandfuturesellingexpenses,includingrelatedsalestaxes.Thisprocessinvolvessignificantmanagementjudgmentandestimation.DuetothesignificanceofinventoryasakeyassetoftheCompany,andconsideringtheinherentrisksassociatedwithestimatingtheconstructioncoststhatwillbeincurreduponthecompletionofinventoryitemsandthefuturenetsellingprices,especiallyinlightofthevariousmeasuresintroducedinresponsetotherealestatemarketacrossdifferentcitiesinthecurrenteconomicenvironment,wehaveidentifiedtheassessmentofthenetrealizablevalueofShenzhenPropertyGroup'sinventoryasakeyauditmatter.Pleaserefertothenotestothefinancialstatements"III.SignificantAccountingPoliciesandAccountingEstimates"(12)Theaccountingpoliciesforinventoryand"VI.NotestoMajorItemsoftheConsolidatedFinancialStatements"(6)Inventory. | Theprimaryproceduresweconductedforassessingthenetrealizablevalueofinventoryareoutlinedbelow:(1)Wewillassessthedesignandoperatingeffectivenessofkeyinternalcontrolsrelatedtomanagement'spreparationofbudgetsandforecastsforconstructionandothercostsassociatedwitheachinventoryitem;(2)Basedonsampling,wewillconductfirst-handobservationofinventoryitems,inquireabouttheprogressoftheseinventoryprojectswithmanagement,andassessthetotaldevelopmentcostbudgetreflectedinthelatestforecastsforeachproject.Wewillcomparethecostsincurredasof31December2023,withthebudgettoevaluatetheaccuracyofmanagement'sforecastsandthebudgetingprocess;(3)Thevaluationmethodsutilizedbymanagementwillbeassessed,andthekeyestimatesandassumptionsusedinthevaluation,includingthosepertainingtotheaveragenetsellingprice,willbecomparedwithmarket-availabledataandShenzhenPropertyGroup'ssalesbudgetplan;and(4)Theworkresultsofthird-partyexpertswillbeutilizedtoassessthecompetenceandobjectivityofthethird-partyexperts,andtheappropriatenessandreasonablenessoftheoriginaldata,keyestimatesandassumptions,keyparameters,andvaluationcalculationprocessusedbythethird-partyexpertswillbereviewedandevaluated. |
4.OtherInformationTheCompany’smanagement(hereinafterreferredtoastheManagement”)isresponsiblefortheotherinformation.Theother
informationcomprisesalloftheinformationincludedintheCompany’s2023AnnualReportotherthanthefinancialstatementsandourauditor’sreportthereon.Ouropiniononthefinancialstatementsdoesnotcovertheotherinformationandwedonotexpressanyformofassuranceconclusionthereon.Inconnectionwithourauditofthefinancialstatements,ourresponsibilityistoreadtheotherinformationand,indoingso,considerwhethertheotherinformationismateriallyinconsistentwiththefinancialstatementsorourknowledgeobtainedintheauditorotherwiseappearstobemateriallymisstated.If,basedontheworkwehaveperformed,weconcludethatthereisamaterialmisstatementofthisotherinformation,wearerequiredtoreportthatfact.Wehavenothingtoreportinthisregard.
5.ResponsibilitiesofManagementandThoseChargedwithGovernanceforFinancialStatementsTheManagementisresponsibleforthepreparationofthefinancialstatementsthatgiveafairviewinaccordancewithCAS,andfordesigning,implementingandmaintainingsuchinternalcontrolasthemanagementdeterminesisnecessarytoenablethepreparationoffinancialstatementsthatarefreefrommaterialmisstatement,whetherduetofraudorerror.Inpreparingthefinancialstatements,theManagementisresponsibleforassessingtheCompany’sabilitytocontinueasagoingconcern,disclosing,asapplicable,mattersrelatedtogoingconcernandusingthegoingconcernbasisofaccountingunlesstheManagementeitherintendstoliquidatetheCompanyortoceaseoperations,orhavenorealisticalternativebuttodoso.Thosechargedwithgovernance(hereinafterreferredtoasthe“Governance”)areresponsibleforoverseeingtheCompany’sfinancialreportingprocess.
6.Auditor’sResponsibilitiesforAuditofFinancialStatementsOurobjectivesaretoobtainreasonableassuranceaboutwhetherthefinancialstatementsasawholearefreefrommaterialmisstatement,whetherduetofraudorerror,andtoissueanauditor’sreportthatincludesouropinion.Reasonableassuranceisahighlevelofassurance,butisnotaguaranteethatanauditconductedinaccordancewithCASwillalwaysdetectamaterialmisstatementwhenitexists.Misstatementscanarisefromfraudorerrorandareconsideredmaterialif,individuallyorintheaggregate,theycouldreasonablybeexpectedtoinfluencetheeconomicdecisionsofuserstakenonthebasisofthesefinancialstatements.AspartofanauditinaccordancewithCAS,weexerciseprofessionaljudgmentandmaintainprofessionalskepticismthroughouttheaudit.Wealso:
(1)Identifyandassesstherisksofmaterialmisstatementofthefinancialstatements,whetherduetofraudorerror,designandperformauditproceduresresponsivetothoserisks,andobtainauditevidencethatissufficientandappropriatetoprovideabasisforouropinion.Theriskofnotdetectingamaterialmisstatementresultingfromfraudishigherthanforoneresultingfromerror,asfraudmayinvolvecollusion,forgery,intentionalomissions,misrepresentations,ortheoverrideofinternalcontrol.
(2)Obtainanunderstandingofinternalcontrolrelevanttotheauditinordertodesignauditproceduresthatareappropriateinthecircumstances.
(3)Evaluatetheappropriatenessofaccountingpoliciesusedandthereasonablenessofaccountingestimatesandrelateddisclosuresmadebythemanagement.
(4)Concludeontheappropriatenessofthemanagement’suseofthegoingconcernbasisofaccountingand,basedontheauditevidenceobtained,whetheramaterialuncertaintyexistsrelatedtoeventsorconditionsthatmaycastsignificantdoubtontheCompany’sabilitytocontinueasagoingconcern.Ifweconcludethatamaterialuncertaintyexists,wearerequiredbyCAStodrawusers’attentioninourauditor’sreporttotherelateddisclosuresinthefinancialstatementsor.ifsuchdisclosuresareinadequate,tomodifyouropinion.Ourconclusionsarebasedontheauditevidenceobtaineduptothedateofourauditor’sreport.However,futureeventsorconditionsmaycausetheCompanytoceasetocontinueasagoingconcern.
(5)Evaluatetheoverallpresentation,structureandcontentofthefinancialstatements,andwhetherthefinancialstatementsrepresenttheunderlyingtransactionsandeventsinamannerthatachievesfairpresentation.
(6)ObtainsufficientappropriateauditevidenceregardingthefinancialinformationoftheentitiesorbusinessactivitieswithintheCompanytoexpressanopiniononthefinancialstatements.Weareresponsibleforthedirection,supervisionandperformanceoftheCompanyaudit.Weremainsolelyresponsibleforourauditopinion.Wecommunicatewiththosechargedwithgovernanceregardingtheplannedscopeandtimingoftheauditandsignificantauditfindings,includinganynoteworthydeficienciesininternalcontrolthatweidentifyduringouraudit.Wealsoprovidethosechargedwithgovernancewithastatementthatwehavecompliedwithrelevantethicalrequirementsregardingindependence,andcommunicatewiththemallrelationshipsandothermattersthatmayreasonablybethoughttobearonourindependence,andwhereapplicable,relatedsafeguards.Fromthematterscommunicatedwiththosechargedwithgovernance,wedeterminethosemattersthatwereofmostsignificanceintheauditoftheconsolidatedfinancialstatementsofthecurrentperiodandarethereforethekeyauditmatters.Wedescribethesemattersinourauditor’sreportunlesslaworregulationprecludespublicdisclosureaboutthematterorwhen,inextremelyrarecircumstances,wedeterminethatamattershouldnotbecommunicatedinourreportbecausetheadverseconsequencesofdoingsowouldreasonablybeexpectedtooutweighthepublicinterestbenefitsofsuchcommunication.
| Beijing·China29March2024 | ChineseCPA(EngagementPartner): |
| ChineseCPA: |
IIFinancialStatements
Currencyunitforthefinancialstatementsandthenotesthereto:RMB
1.ConsolidatedBalanceSheet
PreparedbyShenzhenProperties&ResourcesDevelopment(Group)Ltd.
31December2023
Unit:RMB
| Item | 31December2023 | 1January2023 |
| Currentassets: | ||
| Monetaryassets | 2,748,798,476.72 | 1,517,528,893.83 |
| Settlementreserve | ||
| Interbankloansgranted | ||
| Held-for-tradingfinancialassets | ||
| Derivativefinancialassets |
| Notesreceivable | ||
| Accountsreceivable | 502,806,453.88 | 419,933,915.30 |
| Accountsreceivablefinancing | ||
| Prepayments | 11,983,086.35 | 100,341,806.56 |
| Premiumsreceivable | ||
| Reinsurancereceivables | ||
| Receivablereinsurancecontractreserve | ||
| Otherreceivables | 624,394,372.82 | 639,903,523.33 |
| Including:Interestreceivable | ||
| Dividendsreceivable | ||
| Financialassetspurchasedunderresaleagreements | ||
| Inventories | 11,098,209,095.74 | 10,975,334,223.37 |
| Contractassets | 844,485.57 | 1,094,632.90 |
| Assetsheldforsale | ||
| Currentportionofnon-currentassets | ||
| Othercurrentassets | 127,774,825.51 | 65,655,266.27 |
| Totalcurrentassets | 15,114,810,796.59 | 13,719,792,261.56 |
| Non-currentassets: | ||
| Loansandadvancestocustomers | ||
| Investmentsindebtobligations | ||
| Investmentsinotherdebtobligations | ||
| Long-termreceivables | 22,651,454.07 | |
| Long-termequityinvestments | 84,057,750.55 | 79,781,437.31 |
| Investmentsinotherequityinstruments | 636,926.20 | 887,838.64 |
| Othernon-currentfinancialassets | ||
| Investmentproperty | 386,810,800.47 | 405,762,739.18 |
| Fixedassets | 66,436,408.90 | 82,745,172.12 |
| Constructioninprogress | ||
| Productivelivingassets | ||
| Oilandgasassets | ||
| Right-of-useassets | 23,516,796.22 | 70,168,415.65 |
| Intangibleassets | 889,801.14 | 1,269,382.91 |
| Developmentcosts | ||
| Goodwill | 9,446,847.38 | 9,446,847.38 |
| Long-termprepaidexpense | 21,510,397.88 | 21,980,602.46 |
| Deferredincometaxassets | 1,276,440,386.83 | 1,407,551,347.20 |
| Othernon-currentassets | 3,505,155.93 | 2,750,873.08 |
| Totalnon-currentassets | 1,873,251,271.50 | 2,104,996,110.00 |
| Totalassets | 16,988,062,068.09 | 15,824,788,371.56 |
| Currentliabilities: | ||
| Short-termborrowings | 230,915,000.00 | |
| Borrowingsfromthecentralbank | ||
| Interbankloansobtained | ||
| Held-for-tradingfinancialliabilities | ||
| Derivativefinancialliabilities | ||
| Notespayable | ||
| Accountspayable | 662,869,059.59 | 608,283,388.52 |
| Advancesfromcustomers | 2,265,223.56 | 2,260,847.31 |
| Contractliabilities | 820,424,953.42 | 920,828,040.81 |
| Financialassetssoldunderrepurchaseagreements |
| Customerdepositsandinterbankdeposits | ||
| Payablesforactingtradingofsecurities | ||
| Payablesforunderwritingofsecurities | ||
| Employeebenefitspayable | 218,786,111.78 | 239,126,392.02 |
| Taxespayable | 4,026,957,347.94 | 3,917,278,346.81 |
| Otherpayables | 1,217,303,294.25 | 1,515,085,832.45 |
| Including:Interestpayable | ||
| Dividendspayable | 12,202,676.04 | 12,202,676.04 |
| Handlingchargesandcommissionspayable | ||
| Reinsurancepayables | ||
| Liabilitiesdirectlyassociatedwithassetsheldforsale | ||
| Currentportionofnon-currentliabilities | 3,092,324,853.07 | 218,858,766.82 |
| Othercurrentliabilities | 68,373,661.13 | 83,991,786.83 |
| Totalcurrentliabilities | 10,340,219,504.74 | 7,505,713,401.57 |
| Non-currentliabilities: | ||
| Insurancecontractreserve | ||
| Long-termborrowings | 1,399,889,274.47 | 3,618,782,344.00 |
| Bondspayable | ||
| Including:Preferredshares | ||
| Perpetualbonds | ||
| Leaseliabilities | 10,571,092.27 | 77,963,283.55 |
| Long-termpayables | 400,105,655.56 | |
| Long-termemployeebenefitspayable | ||
| Provisions | 650,000.00 | 766,612.52 |
| Deferredincome | ||
| Deferredincometaxliabilities | 5,862,279.70 | 22,979,304.10 |
| Othernon-currentliabilities | 127,039,225.54 | 128,008,919.79 |
| Totalnon-currentliabilities | 1,944,117,527.54 | 3,848,500,463.96 |
| Totalliabilities | 12,284,337,032.28 | 11,354,213,865.53 |
| 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 | -3,352,337.88 | -3,854,377.95 |
| Specificreserve | ||
| Surplusreserves | 116,108,727.08 | 48,892,576.10 |
| Generalreserve | ||
| Retainedearnings | 3,872,586,802.17 | 3,692,753,832.81 |
| TotalequityattributabletoownersoftheCompanyastheparent | 4,661,810,328.75 | 4,414,259,168.34 |
| Non-controllinginterests | 41,914,707.06 | 56,315,337.69 |
| Totalowners’equity | 4,703,725,035.81 | 4,470,574,506.03 |
| Totalliabilitiesandowners’equity | 16,988,062,068.09 | 15,824,788,371.56 |
Legalrepresentative:LiuShengxiangHeadoffinancialaffairs:CaiLiliHeadofthefinancialdepartment:CaiKelin
2.BalanceSheetoftheCompanyastheParent
Unit:RMB
| Item | 31December2023 | 1January2023 |
| Currentassets: | ||
| Monetaryassets | 1,477,419,010.01 | 532,263,736.63 |
| Held-for-tradingfinancialassets | ||
| Derivativefinancialassets | ||
| Notesreceivable | ||
| Accountsreceivable | 120,029,158.78 | 5,137,042.71 |
| Accountsreceivablefinancing | ||
| Prepayments | ||
| Otherreceivables | 4,489,713,785.01 | 5,162,396,869.45 |
| Including:Interestreceivable | ||
| Dividendsreceivable | 151,433,108.41 | |
| Inventories | 50,777,366.97 | 793,075,051.53 |
| Contractassets | ||
| Assetsheldforsale | ||
| Currentportionofnon-currentassets | ||
| Othercurrentassets | 2,617,751.73 | 18,130,015.97 |
| Totalcurrentassets | 6,140,557,072.50 | 6,511,002,716.29 |
| Non-currentassets: | ||
| Investmentsindebtobligations | ||
| Investmentsinotherdebtobligations | ||
| Long-termreceivables | ||
| Long-termequityinvestments | 1,374,549,151.65 | 1,447,747,317.70 |
| Investmentsinotherequityinstruments | 867,426.20 | 1,118,338.64 |
| Othernon-currentfinancialassets | ||
| Investmentproperty | 253,100,089.70 | 260,599,477.89 |
| Fixedassets | 22,373,578.76 | 31,577,309.67 |
| Constructioninprogress | ||
| Productivelivingassets | ||
| Oilandgasassets | ||
| Right-of-useassets | 2,700,397.70 | 3,238,351.85 |
| Intangibleassets | 3,887,333.33 | |
| Developmentcosts | ||
| Goodwill | ||
| Long-termprepaidexpense | 380,493.32 | 860,115.06 |
| Deferredincometaxassets | 1,961,067.37 | 153,811,385.39 |
| Othernon-currentassets | 2,853,376,650.86 | 2,362,376,650.86 |
| Totalnon-currentassets | 4,513,196,188.89 | 4,261,328,947.06 |
| Totalassets | 10,653,753,261.39 | 10,772,331,663.35 |
| Currentliabilities: | ||
| Short-termborrowings | ||
| Held-for-tradingfinancialliabilities | ||
| Derivativefinancialliabilities | ||
| Notespayable | ||
| Accountspayable | 77,667,521.25 | 41,228,778.20 |
| Advancesfromcustomers | 227.00 | 952,186.65 |
| Contractliabilities | 840,878,470.63 | |
| Employeebenefitspayable | 57,605,546.32 | 56,425,731.67 |
| Taxespayable | 75,570,618.96 | 1,783,757.84 |
| Otherpayables | 7,278,131,009.11 | 7,258,663,180.38 |
| Including:Interestpayable | ||
| Dividendspayable | 29,642.40 | 29,642.40 |
| Liabilitiesdirectlyassociatedwithassetsheldforsale | ||
| Currentportionofnon-currentliabilities | 63,605,554.05 | 190,431,469.82 |
| Othercurrentliabilities | 75,679,062.35 | |
| Totalcurrentliabilities | 7,552,580,476.69 | 8,466,042,637.54 |
| Non-currentliabilities: | ||
| Long-termborrowings | 400,400,000.00 | 462,000,000.00 |
| Bondspayable | ||
| Including:Preferredshares | ||
| Perpetualbonds | ||
| Leaseliabilities | 1,708,456.34 | 1,947,178.87 |
| Long-termpayables | 400,105,655.56 | |
| Long-termemployeebenefitspayable | ||
| Provisions | ||
| Deferredincome | ||
| Deferredincometaxliabilities | 675,099.43 | 809,587.96 |
| Othernon-currentliabilities | 40,000,000.00 | 40,000,000.00 |
| Totalnon-currentliabilities | 842,889,211.33 | 504,756,766.83 |
| Totalliabilities | 8,395,469,688.02 | 8,970,799,404.37 |
| 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 | -3,004,584.80 | -2,742,841.65 |
| Specificreserve | ||
| Surplusreserves | 116,108,727.08 | 48,892,576.10 |
| Retainedearnings | 1,495,323,958.98 | 1,105,527,052.42 |
| Totalowners’equity | 2,258,283,573.37 | 1,801,532,258.98 |
| Totalliabilitiesandowners’equity | 10,653,753,261.39 | 10,772,331,663.35 |
3.ConsolidatedIncomeStatement
Unit:RMB
| Item | 2023 | 2022 |
| 1.Revenue | 2,965,117,025.04 | 3,708,669,046.85 |
| Including:Operatingrevenue | 2,965,117,025.04 | 3,708,669,046.85 |
| Interestrevenue | ||
| Insurancepremiumincome | ||
| Handlingchargeandcommissionincome | ||
| 2.Costsandexpenses | 2,745,490,676.70 | 3,142,047,245.48 |
| Including:Costofsales | 2,233,525,382.49 | 1,978,777,621.22 |
| Interestcosts | ||
| Handlingchargeandcommissionexpense | ||
| Surrenders | ||
| Netinsuranceclaimspaid | ||
| Netamountprovidedasinsurancecontractreserve |
| Expenditureonpolicydividends | ||
| Reinsurancepremiumexpense | ||
| Taxesandsurcharges | 106,650,246.82 | 725,920,657.80 |
| Sellingexpense | 46,757,158.57 | 53,541,997.78 |
| Administrativeexpense | 310,578,375.15 | 329,991,655.74 |
| R&Dexpense | 4,133,484.37 | 3,244,129.11 |
| Financecosts | 43,846,029.30 | 50,571,183.83 |
| Including:Interestexpense | 55,930,898.29 | 64,941,564.63 |
| Interestincome | 19,183,529.19 | 21,591,864.72 |
| Add:Otherincome | 15,432,192.52 | 19,484,058.67 |
| Returnoninvestment(“-”forloss) | 705,759,652.36 | 1,981,330.90 |
| Including:Shareofprofitorlossofjointventuresandassociates | 4,339,433.24 | 2,040,461.81 |
| Incomefromthederecognitionoffinancialassetsatamortizedcost(“-”forloss) | ||
| Exchangegain(“-”forloss) | ||
| Netgainonexposurehedges(“-”forloss) | ||
| Gainonchangesinfairvalue(“-”forloss) | 117,082.19 | |
| Creditimpairmentloss(“-”forloss) | -19,844,952.87 | -17,395,139.90 |
| Assetimpairmentloss(“-”forloss) | -212,173,623.03 | -528,430.23 |
| Assetdisposalincome(“-”forloss) | 833,369.19 | 175,810,605.44 |
| 3.Operatingprofit(“-”forloss) | 709,632,986.51 | 746,091,308.44 |
| Add:Non-operatingincome | 3,604,677.09 | 7,198,004.28 |
| Less:Non-operatingexpense | 6,504,504.20 | 2,556,893.74 |
| 4.Profitbeforetax(“-”forloss) | 706,733,159.40 | 750,732,418.98 |
| Less:Incometaxexpense | 257,694,738.76 | 221,722,125.66 |
| 5.Netprofit(“-”fornetloss) | 449,858,861.48 | 529,010,293.32 |
| 5.1Byoperatingcontinuity | ||
| 5.1.1Netprofitfromcontinuingoperations(“-”fornetloss) | 449,797,505.65 | 529,010,293.32 |
| 5.1.2Netprofitfromdiscontinuedoperations(“-”fornetloss) | 61,355.83 | |
| 5.2Byownership | ||
| 5.2.1NetprofitattributabletoshareholdersoftheCompanyastheparent | 464,014,492.11 | 537,291,574.13 |
| 5.2.1Netprofitattributabletonon-controllinginterests | -14,155,630.63 | -8,281,280.81 |
| 6.Othercomprehensiveincome,netoftax | 502,040.07 | 4,320,275.71 |
| AttributabletoownersoftheCompanyastheparent | 502,040.07 | 4,320,275.71 |
| 6.1Itemsthatwillnotbereclassifiedtoprofitorloss | -261,743.15 | -168,720.11 |
| 6.1.1Changescausedbyremeasurementsondefinedbenefitschemes |
| 6.1.2Othercomprehensiveincomethatwillnotbereclassifiedtoprofitorlossundertheequitymethod | ||
| 6.1.3Changesinthefairvalueofinvestmentsinotherequityinstruments | -261,743.15 | -168,720.11 |
| 6.1.4Changesinthefairvaluearisingfromchangesinowncreditrisk | ||
| 6.1.5Other | ||
| 6.2Itemsthatwillbereclassifiedtoprofitorloss | 763,783.22 | 4,488,995.82 |
| 6.2.1Othercomprehensiveincomethatwillbereclassifiedtoprofitorlossundertheequitymethod | ||
| 6.2.2Changesinthefairvalueofinvestmentsinotherdebtobligations | ||
| 6.2.3Othercomprehensiveincomearisingfromthereclassificationoffinancialassets | ||
| 6.2.4Creditimpairmentallowanceforinvestmentsinotherdebtobligations | ||
| 6.2.5Reserveforcashflowhedges | ||
| 6.2.6Differencesarisingfromthetranslationofforeigncurrency-denominatedfinancialstatements | 763,783.22 | 4,488,995.82 |
| 6.2.7Other | ||
| Attributabletonon-controllinginterests | ||
| 7.Totalcomprehensiveincome | 450,360,901.55 | 533,330,569.03 |
| AttributabletoownersoftheCompanyastheparent | 464,516,532.18 | 541,611,849.84 |
| Attributabletonon-controllinginterests | -14,155,630.63 | -8,281,280.81 |
| 8.Earningspershare | ||
| 8.1Basicearningspershare | 0.7786 | 0.9015 |
| 8.2Dilutedearningspershare | 0.7786 | 0.9015 |
WherebusinesscombinationsundercommoncontroloccurredintheCurrentPeriod,thenetprofitachievedbytheacquireesbeforethecombinationswasRMB0,withtheamountforthesameperiodoflastyearbeingRMB0.Legalrepresentative:LiuShengxiangHeadoffinancialaffairs:CaiLiliHeadofthefinancialdepartment:CaiKelin
4.IncomeStatementoftheCompanyastheParent
Unit:RMB
| Item | 2023 | 2022 |
| 1.Operatingrevenue | 1,053,809,354.95 | 75,486,414.74 |
| Less:Costofsales | 790,579,825.41 | 44,999,240.65 |
| Taxesandsurcharges | 11,569,489.25 | 5,106,898.84 |
| Sellingexpense | 1,376,939.25 | 400,095.36 |
| Administrativeexpense | 100,710,539.92 | 102,699,790.62 |
| R&Dexpense | ||
| Financecosts | 12,752,211.70 | 6,565,334.70 |
| Including:Interestcosts | 24,335,591.87 | 27,016,860.03 |
| Interestrevenue | 12,114,868.86 | 13,235,541.77 |
| Add:Otherincome | 252,975.99 | 183,849.33 |
| Returnoninvestment(“-”forloss) | 761,774,908.45 | 313,407,689.63 |
| Including:Shareofprofitorlossofjointventuresandassociates | 4,339,433.24 | 2,040,461.81 |
| Incomefromthederecognitionoffinancialassetsatamortizedcost(“-”forloss) | ||
| Netgainonexposurehedges(“-”forloss) | ||
| Gainonchangesinfairvalue(“-”forloss) | ||
| Creditimpairmentloss(“-”forloss) | -3,568,827.56 | 280,304.06 |
| Assetimpairmentloss(“-”forloss) | ||
| Assetdisposalincome(“-”forloss) | 111,000.73 | |
| 2.Operatingprofit(“-”forloss) | 895,390,407.03 | 229,586,897.59 |
| Add:Non-operatingincome | 1,910,619.60 | |
| Less:Non-operatingexpense | 15,573.60 | 23,576.47 |
| 3.Profitbeforetax(“-”forloss) | 897,285,453.03 | 229,563,321.12 |
| Less:Incometaxexpense | 225,123,943.28 | 37,070,551.98 |
| 4.Netprofit(“-”fornetloss) | 672,161,509.75 | 192,492,769.14 |
| 4.1Netprofitfromcontinuingoperations(“-”fornetloss) | 672,161,509.75 | 192,492,769.14 |
| 4.2Netprofitfromdiscontinuedoperations(“-”fornetloss) | ||
| 5.Othercomprehensiveincome,netoftax | -261,743.15 | -168,720.11 |
| 5.1Itemsthatwillnotbereclassifiedtoprofitorloss | -261,743.15 | -168,720.11 |
| 5.1.1Changescausedbyremeasurementsondefinedbenefitschemes | ||
| 5.1.2Othercomprehensiveincomethatwillnotbereclassifiedtoprofitorlossundertheequitymethod | ||
| 5.1.3Changesinthefairvalueofinvestmentsinotherequityinstruments | -261,743.15 | -168,720.11 |
| 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 | 671,899,766.60 | 192,324,049.03 |
| 7.Earningspershare |
| 7.1Basicearningspershare |
| 7.2Dilutedearningspershare |
5.ConsolidatedCashFlowStatement
Unit:RMB
| Item | 2023 | 2022 |
| 1.Cashflowsfromoperatingactivities: | ||
| Proceedsfromsaleofcommoditiesandrenderingofservices | 3,136,072,105.49 | 3,437,128,020.73 |
| Netincreaseincustomerdepositsandinterbankdeposits | ||
| Netincreaseinborrowingsfromthecentralbank | ||
| Netincreaseinloansfromotherfinancialinstitutions | ||
| Premiumsreceivedonoriginalinsurancecontracts | ||
| Netproceedsfromreinsurance | ||
| Netincreaseindepositsandinvestmentsofpolicyholders | ||
| Interest,handlingchargesandcommissionsreceived | ||
| Netincreaseininterbankloansobtained | ||
| Netincreaseinproceedsfromrepurchasetransactions | ||
| Netproceedsfromactingtradingofsecurities | ||
| Taxrebates | 17,871,338.77 | 10,058,351.98 |
| Cashgeneratedfromotheroperatingactivities | 355,263,031.70 | 1,078,867,968.60 |
| Subtotalofcashgeneratedfromoperatingactivities | 3,509,206,475.96 | 4,526,054,341.31 |
| Paymentsforcommoditiesandservices | 2,249,429,282.59 | 2,510,779,597.33 |
| Netincreaseinloansandadvancestocustomers | ||
| Netincreaseindepositsinthecentralbankandininterbankloansgranted | ||
| Paymentsforclaimsonoriginalinsurancecontracts | ||
| Netincreaseininterbankloansgranted | ||
| Interest,handlingchargesandcommissionspaid | ||
| Policydividendspaid | ||
| Cashpaidtoandforemployees | 971,486,269.04 | 983,205,651.52 |
| Taxespaid | 280,607,594.18 | 688,906,681.47 |
| Cashusedinotheroperatingactivities | 271,776,314.48 | 237,929,307.13 |
| Subtotalofcashusedinoperatingactivities | 3,773,299,460.29 | 4,420,821,237.45 |
| Netcashgeneratedfrom/usedinoperatingactivities | -264,092,984.33 | 105,233,103.86 |
| 2.Cashflowsfrominvestingactivities: | ||
| Proceedsfromdisinvestment | 297,479.85 | |
| Returnoninvestment | 63,120.00 |
| Netproceedsfromthedisposaloffixedassets,intangibleassetsandotherlong-livedassets | 92,191.39 | 197,192,641.96 |
| Netproceedsfromthedisposalofsubsidiariesandotherbusinessunits | 634,578,885.34 | |
| Cashgeneratedfromotherinvestingactivities | ||
| Subtotalofcashgeneratedfrominvestingactivities | 634,734,196.73 | 197,490,121.81 |
| Paymentsfortheacquisitionoffixedassets,intangibleassetsandotherlong-livedassets | 7,641,999.39 | 17,734,048.21 |
| Paymentsforinvestments | 0.00 | 27,380,294.13 |
| Netincreaseinpledgedloansgranted | ||
| Netpaymentsfortheacquisitionofsubsidiariesandotherbusinessunits | 0.00 | 0.00 |
| Cashusedinotherinvestingactivities | ||
| Subtotalofcashusedininvestingactivities | 7,641,999.39 | 45,114,342.34 |
| Netcashgeneratedfrom/usedininvestingactivities | 627,092,197.34 | 152,375,779.47 |
| 3.Cashflowsfromfinancingactivities: | ||
| Capitalcontributionsreceived | 0.00 | 17,760,000.00 |
| Including:Capitalcontributionsbynon-controllingintereststosubsidiaries | 0.00 | 17,760,000.00 |
| Borrowingsraised | 1,084,580,254.47 | 285,589,674.44 |
| Cashgeneratedfromotherfinancingactivities | 400,000,000.00 | 0.00 |
| Subtotalofcashgeneratedfromfinancingactivities | 1,484,580,254.47 | 303,349,674.44 |
| Repaymentofborrowings | 194,193,324.00 | 63,300,000.00 |
| Interestanddividendspaid | 402,974,331.30 | 593,986,146.21 |
| Including:Dividendspaidbysubsidiariestonon-controllinginterests | 245,000.00 | 0.00 |
| Cashusedinotherfinancingactivities | 27,083,856.33 | 306,511,487.27 |
| Subtotalofcashusedinfinancingactivities | 624,251,511.63 | 963,797,633.48 |
| Netcashgeneratedfrom/usedinfinancingactivities | 860,328,742.84 | -660,447,959.04 |
| 4.Effectofforeignexchangerateschangesoncashandcashequivalents | 117,321.79 | 4,790,697.94 |
| 5.Netincreaseincashandcashequivalents | 1,223,445,277.64 | -398,048,377.77 |
| Add:Cashandcashequivalents,beginningoftheperiod | 1,509,693,857.48 | 1,907,742,235.25 |
| 6.Cashandcashequivalents,endoftheperiod | 2,733,139,135.12 | 1,509,693,857.48 |
6.CashFlowStatementoftheCompanyastheParent
Unit:RMB
| Item | 2023 | 2022 |
| 1.Cashflowsfromoperatingactivities: | ||
| Proceedsfromsaleofcommoditiesandrenderingofservices | 91,759,421.31 | 421,114,781.33 |
| Taxrebates | ||
| Cashgeneratedfromotheroperatingactivities | 1,234,735,240.99 | 1,762,436,455.47 |
| Subtotalofcashgeneratedfromoperatingactivities | 1,326,494,662.30 | 2,183,551,236.80 |
| Paymentsforcommoditiesandservices | 54,693,324.00 | 97,820,597.35 |
| Cashpaidtoandforemployees | 52,203,282.11 | 65,677,185.99 |
| Taxespaid | 52,237,252.64 | 34,805,390.11 |
| Cashusedinotheroperatingactivities | 694,228,351.07 | 1,082,444,909.69 |
| Subtotalofcashusedinoperatingactivities | 853,362,209.82 | 1,280,748,083.14 |
| Netcashgeneratedfrom/usedinoperatingactivities | 473,132,452.48 | 902,803,153.66 |
| 2.Cashflowsfrominvestingactivities: | ||
| Proceedsfromdisinvestment | 835,000,000.00 | 1,841,000,000.00 |
| Returnoninvestment | 151,496,228.41 | 473,625,777.76 |
| Netproceedsfromthedisposaloffixedassets,intangibleassetsandotherlong-livedassets | 209.00 | |
| Netproceedsfromthedisposalofsubsidiariesandotherbusinessunits | ||
| Cashgeneratedfromotherinvestingactivities | ||
| Subtotalofcashgeneratedfrominvestingactivities | 986,496,228.41 | 2,314,625,986.76 |
| Paymentsfortheacquisitionoffixedassets,intangibleassetsandotherlong-livedassets | 697,768.98 | 1,154,885.13 |
| Paymentsforinvestments | 491,000,000.00 | 3,124,506,071.91 |
| Netpaymentsfortheacquisitionofsubsidiariesandotherbusinessunits | ||
| Cashusedinotherinvestingactivities | ||
| Subtotalofcashusedininvestingactivities | 491,697,768.98 | 3,125,660,957.04 |
| Netcashgeneratedfrom/usedininvestingactivities | 494,798,459.43 | -811,034,970.28 |
| 3.Cashflowsfromfinancingactivities: | ||
| Capitalcontributionsreceived | ||
| Borrowingsraised | 125,000,000.00 | |
| Cashgeneratedfromotherfinancingactivities | 400,000,000.00 | |
| Subtotalofcashgeneratedfromfinancingactivities | 400,000,000.00 | 125,000,000.00 |
| Repaymentofborrowings | 188,100,000.00 | 63,100,000.00 |
| Interestanddividendspaid | 239,765,330.40 | 432,215,867.55 |
| Cashusedinotherfinancingactivities | 1,603,790.70 | |
| Subtotalofcashusedinfinancingactivities | 427,865,330.40 | 496,919,658.25 |
| Netcashgeneratedfrom/usedinfinancingactivities | -27,865,330.40 | -371,919,658.25 |
| 4.Effectofforeignexchangerateschangesoncashandcashequivalents | -697,037.83 | 12,768.24 |
| 5.Netincreaseincashandcashequivalents | 939,368,543.68 | -280,138,706.63 |
| Add:Cashandcashequivalents,beginningoftheperiod | 528,272,695.05 | 808,411,401.68 |
| 6.Cashandcashequivalents,endoftheperiod | 1,467,641,238.73 | 528,272,695.05 |
7.ConsolidatedStatementsofChangesinOwners’Equity
2023
Unit:RMB
| Item | 2023 | ||||||||||||||
| 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 | -3,854,377.95 | 48,892,576.10 | 3,692,753,832.81 | 4,414,259,168.34 | 56,315,337.69 | 4,470,574,506.03 | |||||||
| Add:Adjustmentforchangeinaccountingpolicy | |||||||||||||||
| Adjustmentforcorrectionofpreviouserror | |||||||||||||||
| Otheradjustments | |||||||||||||||
| 2.Balanceasatthebeginningoftheyear | 595,979,092.00 | 80,488,045.38 | -3,854,377.95 | 48,892,576.10 | 3,692,753,832.81 | 4,414,259,168.34 | 56,315,337.69 | 4,470,574,506.03 | |||||||
| 3. | 502, | 67,2 | 179, | 247, | - | 233, | |||||||||
| Increase/decreaseintheperiod(“-”fordecrease) | 040.07 | 16,150.98 | 832,969.36 | 551,160.41 | 14,400,630.63 | 150,529.78 | ||||
| 3.1Totalcomprehensiveincome | 502,040.07 | 464,014,492.11 | 464,516,532.18 | -14,155,630.63 | 450,360,901.55 | |||||
| 3.2Capitalincreasedandreducedbyowners | ||||||||||
| 3.2.1Ordinarysharesincreasedbyowners | ||||||||||
| 3.2.2Capitalincreasedbyholdersofotherequityinstruments | ||||||||||
| 3.2.3Share-basedpaymentsincludedin |
| owners’equity | ||||||||
| 3.2.4Other | ||||||||
| 3.3Profitdistribution | 67,216,150.98 | -282,364,603.19 | -215,148,452.21 | -245,000.00 | -215,393,452.21 | |||
| 3.3.1Appropriationtosurplusreserves | 67,216,150.98 | -67,216,150.98 | ||||||
| 3.3.2Appropriationtogeneralreserve | ||||||||
| 3.3.3Appropriationtoowners(orshareholders) | -215,148,452.21 | -215,148,452.21 | -245,000.00 | -215,393,452.21 | ||||
| 3.3.4Other | ||||||||
| 3.4Transferswithinowners’equity | ||||||||
| 3.4.1Increaseincapital(orshare |
| capital)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 | -1,816,919.56 | -1,816,919.56 | -1,816,919.56 | ||||||||||
| 4.Balanceasattheendoftheperiod | 595,979,092.00 | 80,488,045.38 | -3,352,337.88 | 116,108,727.08 | 3,872,586,802.17 | 4,661,810,328.75 | 41,914,707.06 | 4,703,725,035.81 |
2022
Unit:RMB
| Item | 2022 | ||||||||||||||
| 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 | -8,174,653.66 | 29,637,548.47 | 3,788,180,758.20 | 4,486,110,790.39 | 44,979,674.19 | 4,531,090,464.58 | |||||||
| Add:Adjustment | 5,750.71 | 2,070,994.22 | 2,076,744.93 | 17,005.31 | 2,093,750.24 | ||||||||||
| forchangeinaccountingpolicy | |||||||||||||
| Adjustmentforcorrectionofpreviouserror | |||||||||||||
| Otheradjustments | 73,854,303.62 | 17,937,391.71 | 12,149,572.03 | 103,941,267.36 | 1,839,939.00 | 105,781,206.36 | |||||||
| 2.Balanceasatthebeginningoftheyear | 595,979,092.00 | 154,342,349.00 | -8,174,653.66 | 47,580,690.89 | 3,802,401,324.45 | 4,592,128,802.68 | 46,836,618.50 | 4,638,965,421.18 | |||||
| 3.Increase/decreaseintheperiod(“-”fordecrease) | -73,854,303.62 | 4,320,275.71 | 1,311,885.21 | -109,647,491.64 | -177,869,634.34 | 9,478,719.19 | -168,390,915.15 | ||||||
| 3.1Totalcomprehensiveincome | 4,320,275.71 | 537,291,574.13 | 541,611,849.84 | -8,281,280.81 | 533,330,569.03 | ||||||||
| 3.2Capitalincreasedandreducedbyowners | -73,854,303.62 | -17,937,391.71 | -222,424,006.29 | -314,215,701.62 | 17,760,000.00 | -296,455,701.62 |
| 3.2.1Ordinarysharesincreasedbyowners | 17,760,000.00 | 17,760,000.00 | ||||||||
| 3.2.2Capitalincreasedbyholdersofotherequityinstruments | ||||||||||
| 3.2.3Share-basedpaymentsincludedinowners’equity | ||||||||||
| 3.2.4Other | -73,854,303.62 | -17,937,391.71 | -222,424,006.29 | -314,215,701.62 | -314,215,701.62 | |||||
| 3.3Profitdistribution | 19,249,057.34 | -424,514,839.90 | -405,265,782.56 | -405,265,782.56 | ||||||
| 3.3.1Appropriationtosurplusreserves | 19,249,057.34 | -19,249,057.34 | ||||||||
| 3.3.2Appropriation |
| togeneralreserve | ||||||
| 3.3.3Appropriationtoowners(orshareholders) | -405,265,782.56 | -405,265,782.56 | -405,265,782.56 | |||
| 3.3.4Other | ||||||
| 3.4Transferswithinowners’equity | ||||||
| 3.4.1Increaseincapital(orsharecapital)fromcapitalreserves | ||||||
| 3.4.2Increaseincapital(orsharecapital)fromsurplusreserves | ||||||
| 3.4.3Lossoffsetbysurpl |
| usreserves | |||||||||||||
| 3.4.4Changesindefinedbenefitschemestransferredtoretainedearnings | |||||||||||||
| 3.4.5Othercomprehensiveincometransferredtoretainedearnings | |||||||||||||
| 3.4.6Other | |||||||||||||
| 3.5Specificreserve | |||||||||||||
| 3.5.1Increaseintheperiod | |||||||||||||
| 3.5.2Usedintheperiod | |||||||||||||
| 3.6Other | |||||||||||||
| 4. | 595, | 80,4 | - | 48,8 | 3,69 | 4,41 | 56,3 | 4,47 |
| Balanceasattheendoftheperiod | 979,092.00 | 88,045.38 | 3,854,377.95 | 92,576.10 | 2,753,832.81 | 4,259,168.34 | 15,337.69 | 0,574,506.03 |
8.StatementsofChangesinOwners’EquityoftheCompanyastheParent
2023
Unit:RMB
| Item | 2023 | |||||||||||
| 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 | -2,742,841.65 | 48,892,576.10 | 1,105,527,052.42 | 1,801,532,258.98 | ||||||
| Add:Adjustmentforchangeinaccountingpolicy | ||||||||||||
| Adjustmentforcorrectionofpreviouserror | ||||||||||||
| Otheradjustments | ||||||||||||
| 2.Balanceasatthebeginningoftheyear | 595,979,092.00 | 53,876,380.11 | -2,742,841.65 | 48,892,576.10 | 1,105,527,052.42 | 1,801,532,258.98 | ||||||
| 3.Increase/decreaseinthe | -261,743.15 | 67,216,150.98 | 389,796,906.56 | 456,751,314.39 | ||||||||
| period(“-”fordecrease) | |||||||
| 3.1Totalcomprehensiveincome | -261,743.15 | 672,161,509.75 | 671,899,766.60 | ||||
| 3.2Capitalincreasedandreducedbyowners | |||||||
| 3.2.1Ordinarysharesincreasedbyowners | |||||||
| 3.2.2Capitalincreasedbyholdersofotherequityinstruments | |||||||
| 3.2.3Share-basedpaymentsincludedinowners’equity | |||||||
| 3.2.4Other | |||||||
| 3.3Profitdistribution | 67,216,150.98 | -282,364,603.19 | -215,148,452.21 | ||||
| 3.3.1Appropriationtosurplusreserves | 67,216,150.98 | -67,216,150.98 | |||||
| 3.3.2Appropriationtoowners | -215,148,452.21 | -215,148,452.21 |
| (orshareholders) |
| 3.3.3Other |
| 3.4Transferswithinowners’equity |
| 3.4.1Increaseincapital(orsharecapital)fromcapitalreserves |
| 3.4.2Increaseincapital(orsharecapital)fromsurplusreserves |
| 3.4.3Lossoffsetbysurplusreserves |
| 3.4.4Changesindefinedbenefitschemestransferredtoretainedearnings |
| 3.4.5Othercomprehensive |
| incometransferredtoretainedearnings | ||||||||||
| 3.4.6Other | ||||||||||
| 3.5Specificreserve | ||||||||||
| 3.5.1Increaseintheperiod | ||||||||||
| 3.5.2Usedintheperiod | ||||||||||
| 3.6Other | ||||||||||
| 4.Balanceasattheendoftheperiod | 595,979,092.00 | 53,876,380.11 | -3,004,584.80 | 116,108,727.08 | 1,495,323,958.98 | 2,258,283,573.37 |
2022
Unit:RMB
| Item | 2022 | |||||||||||
| 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 | -2,574,121.54 | 29,637,548.47 | 1,337,497,586.41 | 2,014,416,485.45 | ||||||
| Add:Adjustmentforchangeinaccountingpolicy | 5,750.71 | 51,756.35 | 57,507.06 | |||||||||
| Adjustmentforcorrect | ||||||||||||
| ionofpreviouserror | ||||||||||
| Otheradjustments | ||||||||||
| 2.Balanceasatthebeginningoftheyear | 595,979,092.00 | 53,876,380.11 | -2,574,121.54 | 29,643,299.18 | 1,337,549,342.76 | 2,014,473,992.51 | ||||
| 3.Increase/decreaseintheperiod(“-”fordecrease) | -168,720.11 | 19,249,276.92 | -232,022,290.34 | -212,941,733.53 | ||||||
| 3.1Totalcomprehensiveincome | -168,720.11 | 192,492,769.14 | 192,324,049.03 | |||||||
| 3.2Capitalincreasedandreducedbyowners | ||||||||||
| 3.2.1Ordinarysharesincreasedbyowners | ||||||||||
| 3.2.2Capitalincreasedbyholdersofotherequityinstruments | ||||||||||
| 3.2.3Share-basedpaymentsincludedinowners’ |
| equity | |||||
| 3.2.4Other | |||||
| 3.3Profitdistribution | 19,249,276.92 | -424,515,059.48 | -405,265,782.56 | ||
| 3.3.1Appropriationtosurplusreserves | 19,249,276.92 | -19,249,276.92 | |||
| 3.3.2Appropriationtoowners(orshareholders) | -405,265,782.56 | -405,265,782.56 | |||
| 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 | -2,742,841.65 | 48,892,576.10 | 1,105,527,052.42 | 1,801,532,258.98 |
IIICompanyProfile
ShenzhenProperties&ResourcesDevelopment(Group)Ltd.(hereinafterreferredtoas“theCompany”or“Company”)wasincorporatedbasedonthereconstructionofShenzhenProperties&ResourcesDevelopmentCo.,Ltd.afterobtainingapprovalofZFBF[1991]No.831fromPeople’sGovernmentofShenzhenMunicipality.ItwasregisteredwithShenzhenIndustrialandCommercialAdministrationBureauon17January1983withShenzhenasitsheadquarters.NowtheCompanyholdsthebusinesslicenseforlegalpersonwiththeregistrationnumber/unifiedsocialcreditcodeof91440300192174135N.Theregisteredcapitalwas
RMB595,979,092withthetotalsharesof595,979,092(RMB1facevaluepershare),amongwhich,restrictedpublicshares:
1,898,306Asharesand0Bshares;unrestrictedpublicshares:526,475,543Asharesand67,605,243Bshares.ThestockoftheCompanyhasbeenlistedontheShenzhenStockExchangeon30March1992.TheCompanyisintherealestatesector.Itsmainbusinessincludesdevelopmentofrealestateandsaleofcommercialhousing,constructionandmanagementofbuildings,houserent,supervisionofconstruction,domestictradingandmaterialssupplyandmarketing(excludingexclusivedealingandmonopolysoldproductsandcommoditiesunderspecialcontroltopurchase).Mainproductsorservicesrenderedmainlyincludethedevelopmentandsalesofcommercialresidentialhousing;propertymanagement;buildingsandthebuildingdevicesmaintenance,gardenafforestandcleaningservice;propertyleasing;superviseandmanagementoftheengineering;retailsoftheChinesefood,Western-stylefoodandwines,andetc.Thefinancialstatementswereapprovedandauthorizedforissuebythe25thMeetingofthe10thBoardofDirectorsoftheCompanyon29March2024.TheconsolidationscopeoftheCompany’sconsolidatedfinancialstatementswasdeterminedbasedonthecontrolwhichincludedthefinancialstatementsoftheCompanyandallitssubsidiaries.AsubsidiaryreferstoanenterpriseorentitycontrolledbytheCompany.Therewere60subsidiariesincludedintheconsolidationfinancialstatementsinthisreport.PleaserefertotheNoteIXandNoteXofthefinancialreportfordetails.IVBasisforPreparationofFinancialStatements
1.PreparationBasis
Basedonthecontinuingoperation,thefinancialstatementsoftheCompanyarepreparedinaccordancewiththeactualtransactions,governingprovisionsoftheAccountingStandardsforBusinessEnterprisesandthefollowingmajoraccountingpoliciesandestimates.
2.ContinuationTherewasnosuchcasewherethesustainableoperationabilitywithin12monthssincetheendoftheReportingPeriodwashighlydoubted.V.ImportantAccountingPoliciesandEstimations
Indicationofspecificaccountingpoliciesandestimations:
TheCompanyhasformulatedspecificaccountingpoliciesandaccountingestimatesfortransactionsandevents,suchastherecognitionofincomes,basedontheactualproductionandoperationcharacteristics,andinaccordancewiththeprovisionsoftherelevantaccountingstandardsforbusinessenterprises.Pleasereferto"FinancialInstruments","Inventory",and"Revenue"inthissectionfordetails.
1.StatementforComplyingwiththeAccountingStandardforBusinessEnterpriseThefinancialstatementpreparedbytheCompanycomplieswiththerequirementsofthelatestaccountingstandardsforbusinessenterprisesaswellastheapplicationguidelines,interpretationsandotherrelevantregulations(hereinafterreferredtoasthe“accountingstandardsforbusinessenterprises”)issuedbytheMinistryofFinance.ItreflectstheCompany’sfinancialconditions,operatingresults,cashflowandotherrelatedinformationinatruthfulandcompletemanner.Inaddition,inthepreparationofthefinancialreport,referencewasmadetothepresentationanddisclosurerequirementsoftheRuleforInformationDisclosurebyCompaniesOfferingSecuritiestothePublicNo.15-GeneralProvisionsonFinancialReports(2014
Revision)andtheNoticeonRelatedMattersoftheImplementationofNewAccountingStandardsforBusinessEnterprisesbyListedCompanies(KJBH[2018]No.453).
2.FiscalPeriodThefiscalyearoftheCompanyisasolarcalendaryear,whichisfrom1Januaryto31December.
3.OperatingCycleExceptfortherealestateindustry,otherbusinessesrunbytheCompanyhaverelativelyshortoperatingcyclesaccordingtotheclassificationstandardof12-month’sliquidityofassetsandliabilities.Theoperatingcycleoftherealestateindustryshallbegenerallymorethan12monthsfromrealestatedevelopmenttocashthesales.Thespecificcycleshallbedeterminedbythedevelopmentprojectandclassifiedbytheassetsandliabilitiesliquidity.
4.StandardCurrencyofAccountsTheCompanyadoptsRenminbiasastandardcurrencyofaccounts.
5.MethodsforDeterminingmaterialitystandardsandselectioncriteria?Applicable□Notapplicable
| Item | Materialitycriteria |
| Accountreceivablewithbaddebtprovisionbymajorsingleitem | AccountsreceivableamountingtoRMB5millionormore |
| Significantnon-wholly-ownedsubsidiaries | Non-wholly-ownedsubsidiarieswithrevenueexceeding10%oftheconsolidatedoperatingrevenue,ortotalassetsexceeding5%oftheconsolidatedtotalassets. |
6.AccountingProcessofBusinessCombinationsundertheSameControlandnotundertheSameControl
1.AccountingProcessofBusinessCombinationsundertheSameControlForbusinesscombinationunderthesamecontrolachievedthroughonetransactionorstepbystepthroughmultipletransactionsbytheCompany,theassetsandliabilitiesacquiredinabusinesscombinationaremeasuredatthecarryingvalueoftheacquireeintheconsolidatedfinancialstatementsoftheultimatecontrollingpartyatthedateofcombination.ThedifferencebetweenthecarryingvalueofnetassetsacquiredbytheCompanyandthecarryingvalueofthecombinationconsiderationpaid(orthetotalnominalvalueofsharesissued)isreferredtoforadjustingcapitalreserve;ifcapitalreserveisnotsufficienttooffsetthedifference,thenretainedearningsareadjusted.
2.AccountingProcessofBusinessCombinationsnotundertheSameControlTheGroupshallrecognizethepositivebalancebetweenthecombinationcostsandthefairvalueoftheidentifiablenetassetsobtainedfromtheacquireeonpurchasedateasgoodwill.Ifthecombinationcostsarelessthanthefairvalueoftheidentifiablenetassetsobtainedfromtheacquire,theCompanyshallrecheckthevariousidentifiableassetsandliabilitiesobtainedfromtheacquire,fairvaluewithliabilities,andmeasurementofcombinationcosts.Ifthecombinationcostsarelessthanthefairvalueoftheidentifiablenetassetsobtainedfromtheacquireafterrecheck,theCompanyshalltherecordthebalanceintotheprofitandlossofthecurrentperiod.Businesscombinationsnotunderthesamecontrolachievedstepbystepthroughmultipletransactionsshouldbetreatedinthefollowingorder:
(1)Adjustingtheinitialinvestmentcostoflong-termequityinvestmentIftheequityheldpriortothedateofpurchaseisaccounted
undertheequitymethod,theequityisremeasuredatthefairvalueonthepurchasedate,andthedifferencebetweenthefairvalueanditscarryingvalueisincludedintheinvestmentincomeofthecurrentperiod;iftheequityintheacquireeheldpriortothepurchasedateinvolvesothercomprehensiveincomeorchangesinotherowners'equityundertheequitymethodofaccounting,itisconvertedintoincomeforthecurrentperiodonthepurchasedate,exceptforothercomprehensiveincomearisingfromthere-measurementoftheinvestee'snetliabilitiesofthedefinedbenefitpensionplanorchangesinnetassetsofthedefinedbenefitplanandchangesinthefairvalueofinvestmentsinotherequityinstrumentsheld.
(2)Determiningthegoodwill(ortheamountincludedintheprofitorlossforthecurrentperiod)Whencomparingtheinitialinvestmentcostoflong-termequityinvestmentsadjustedinthefirststepwiththeshareofthefairvalueoftheidentifiablenetassetsofthesubsidiaryonthepurchasedate,iftheformerismorethanthelatter,thedifferencebetweentheformerandthelatterisrecognizedasgoodwill;iftheformerislessthanthelatter,thedifferenceisincludedinprofitorlossforthecurrentperiod.Step-by-stepdisposalofequitythroughmultipletransactionsthatresultsinlossofcontroloverthesubsidiary
(1)Principlesfordeterminingwhethertransactionsintheprocessofstep-by-stepdisposalofequitythatresultsinthelossofcontroloverasubsidiaryconstitutea"packagedeal"Themultipletransactionsaregenerallyregardedasa"packagedeal"inaccountingtreatmentiftheclauses,conditions,andeconomicimpactsofvarioustransactionsfallunderoneormoreofthefollowingcircumstances:
1)Thesetransactionsarereachedconcurrentlyoraftertheimpactthereofoneachotheristakenintoconsideration.
2)Thesetransactionsmayachieveacompletebusinessresultonlyasawhole.
3)Theoccurrenceofatransactiondependsontheoccurrenceof,ataminimum,oneanothertransaction.
4)Atransactionisconsidereduneconomicalseparatelybutisconsideredeconomicalwhenothertransactionsarealsotakenintoconsideration.
(2)Accountingtreatmentwhentransactionsintheprocessofstep-by-stepdisposalofequitythatresultsinthelossofcontroloverasubsidiaryconstitutea"packagedeal"Ifthetransactionsinthedisposalofequityofasubsidiarythatresultsinthelossofcontrolconstituteapackagedeal,eachtransactionshouldbeaccountedforasatransactionthatdisposesofandlosescontroloverasubsidiary;however,thedifferencebetweenthedisposalpriceandtheshareofthenetassetsofthesubsidiarycorrespondingtothedisposaloftheinvestmentforeachdisposalpriortothelossofcontrolshouldberecognizedasothercomprehensiveearningsintheconsolidatedfinancialstatementsandtransferredtoprofitorlossforthecurrentperiodwhentheCompanylostthecontrol.Intheconsolidatedfinancialstatements,theremainingequityshouldberemeasuredatfairvalueonthedateoflossofcontrol.ThesumoftheconsiderationobtainedfromthedispositionofequityandthefairvalueoftheresidualequityminustheCompany'sportionofnetassetsintheformersubsidiarycalculatedfromthedateofcombinationonanongoingbasisattheoriginalshareholdingratioisincludedinthereturnoninvestmentforthecurrentperiodwhentheCompanylostthecontrol.OthercomprehensiveincomerelatedtotheequityinvestmentsintheformersubsidiaryshouldbeincludedinthereturnoninvestmentorretainedearningsforthecurrentperiodwhentheCompanylostthecontrol.
(3)Accountingtreatmentwhentransactionsintheprocessofstep-by-stepdisposalofequitythatresultsinthelossofcontroloverasubsidiarydonotconstitutea"packagedeal"IftheCompanydisposesofinvestmentsmadeinitssubsidiarywithoutlosingcontroloverthesubsidiary,intheconsolidatedfinancialstatements,thedifferencebetweenthepaymentforequitydisposedofandtheCompany'scorrespondingportionofnetassetsinthesubsidiaryisincludedinthecapitalreserve.Ifthecapitalreserveisinsufficientforoffset,theretainedearningsshouldbeadjusted.
Ifthedisposalofinvestmentsmadeinitssubsidiaryresultsinalossofcontroloverthesubsidiary,intheconsolidatedfinancialstatements,theremainingequityshouldberemeasuredatthefairvalueonthedateoflossofcontrol.ThesumoftheconsiderationobtainedfromthedispositionofequityandthefairvalueoftheresidualequityminustheCompany'sportionofnetassetsintheformersubsidiarycalculatedfromthedateofcombinationonanongoingbasisattheoriginalshareholdingratioisincludedinthereturnoninvestmentforthecurrentperiodwhentheCompanylostthecontrol.OthercomprehensiveincomerelatedtotheequityinvestmentsintheformersubsidiaryshouldbeincludedinthereturnoninvestmentorretainedearningsforthecurrentperiodwhentheCompanylostthecontrol.
7.CriteriaforJudgingControlandMethodsforPreparingConsolidatedFinancialStatementsThescopeoftheCompany'sconsolidatedfinancialstatementsisdeterminedbasedoncontrol.ControlmeansthattheCompanyhaspowerovertheinvestee,enjoysvariablereturnsthroughitsinvolvementintheinvestee'srelatedactivitiesandhastheabilitytousethepowertoinfluencetheamountofreturns.Relevantactivitiesrefertoactivitieswhichhavesignificantimpactonthereturnsoftheinvestee.Theactivitiesoftheinvesteeshallbeassessedbasedonspecificcircumstances,typicallyincludingsalesandpurchasesofgoodsorservices,managementoffinancialassets,acquisitionanddisposalofassets,researchanddevelopmentactivities,andfinancingactivities.TheCompanywilljudgewhethertheseentitieshavebeencontrolledbytheinvesteebasedonitscomprehensiveconsiderationofrelevantfactsandcircumstances.Wherechangesinrelevantfactsandcircumstancesresultinchangesofrelevantelementsinvolvedintheabovedefinitionofcontrol,theCompanyshallconductreassessment.BasedonthefinancialstatementsoftheCompanyastheparentanditssubsidiariesandotherrelatedmaterials,theconsolidatedfinancialstatementswerepreparedbytheGroupastheparentaccordingtoAccountingStandardsforEnterprisesNo.33–ConsolidatedFinancialStatements.
8.ClassificationofJointarrangementsandAccountingTreatmentofJointOperations
1.IdentificationandclassificationofjointarrangementsAjointarrangementisanarrangementoverwhichtwoormorepartieshavejointcontrol.Ajointarrangementhasthefollowingcharacteristics:(1)Eachparticipantisboundbythearrangement;(2)twoormorepartiesofthejointarrangementexercisejointcontroloverthearrangement.Noonepartycancontrolthearrangementalone,andanypartywithjointcontroloverthearrangementcanpreventtheotherpartyorcombinationofpartiesfromcontrollingthearrangementalone.Jointcontrolreferstothecommoncontroloveraparticulararrangementaccordingtorelevantagreement,andthatthedecisionsonrelevantactivitiesundersucharrangementaresubjecttounanimousconsentfromthepartiessharingthejointcontrol.Jointarrangementsaredividedintojointoperationsandjointventures.Ajointoperationisajointarrangementwherebythepartytojointarrangementhasrightstotheassets,andobligationsfortheliabilitiesrelatedtothearrangement.Ajointventureisajointarrangementwherebythepartytojointarrangementhasrightstothenetassetsofthearrangement.
2.AccountingtreatmentofjointarrangementsApartytoajointoperationshallrecognizethefollowingitemsrelatedtoitsshareofinterestinthejointoperationandconductaccountingtreatmentfortheminaccordancewiththerelevantprovisionsoftheAccountingStandardforBusinessEnterprises:(1)Recognitionofassetsheldseparatelyandofassetsheldjointlyinproportiontoitsshare;(2)recognitionofliabilitiesincurredseparatelyandofliabilitiesincurredjointlyinproportiontoitsshare;(3)recognitionofrevenuefromthesaleofitsshareoftheoutputofthejointoperation;(4)recognitionofrevenuefromthesaleofoutputofthejointoperationinproportiontoitsshare;(5)
recognitionofexpensesincurredseparatelyandofexpensesincurredinthejointoperationinproportiontoitsshare.ThepartytoajointventureshouldconductaccountingtreatmentinaccordancewithrelevantprovisionsoftheAccountingStandardsforBusinessEnterprisesNo.2-Long-termEquityInvestment.
9.RecognitionStandardforCashandCashEquivalentsIntheCompany’sunderstanding,cashandcashequivalentsincludecashonhand,anydepositthatcanbeusedforcover,andshort-term(usuallyduewithin3monthssincethedayofpurchase)andhighcirculatinginvestments,whichareeasilyconvertibleintoknownamountofcashandwhoserisksinchangeofvalueareminimal.
10.ForeignCurrencyBusinessesandTranslationofForeignCurrencyFinancialStatements
(1)AccountingtreatmentsfortranslationofforeigncurrencybusinessAsforaforeigncurrencytransactioninitsinitialrecognition,theamountintheforeigncurrencyshallbetranslatedintotheamountintheRenminbiatthespotexchangerateofthetransactiondate.Onbalancesheetdate,theforeigncurrencymonetaryitemsshallbetranslatedasthespotexchangerateonthebalancesheetdate,thebalanceoccurredthereofshallberecordedintotheprofitsandlossesatthecurrentperiodexceptthatthebalanceofexchangearisingfromtheprincipalandinterestsofforeigncurrencyborrowingsforthepurchaseandconstructionorproductionofassetseligibleforcapitalization.Theforeigncurrencynon-monetaryitemsmeasuredatthehistoricalcostshallstillbetranslatedatthespotexchangerateonthetransactiondate,ofwhichtheamountoffunctionalcurrencyshallnotbechanged.Theforeigncurrencynon-monetaryitemsmeasuredatthefairvalueshallbetranslatedatthespotexchangerateontheconfirmingdateoffairvalue,ofwhichthebalanceofexchangeshallbeincludedintotheprofitandlossofthecurrentperiodorothercomprehensiveincome.
(2)TranslationofforeigncurrencyfinancialstatementsTheassetandliabilityitemsinthebalancesheetsshallbetranslatedataspotexchangerateonthebalancesheetdate.Amongtheowner’sequityitems,exceptfortheitemsas“retainedearnings”,otheritemsshallbetranslatedatthespotexchangerateatthetimewhentheyareincurred.Theincomeandexpenseitemsintheincomestatementsshallbetranslatedatthespotexchangerateatthetimewhentheyareincurred.Thedifferencefromtranslationofforeigncurrencyfinancialstatementsthereofshallberecognizedascomprehensiveincome.
11.FinancialInstruments
1.RecognitionandderecognitionoffinancialinstrumentsWhentheGroupbecomesapartytoafinancialinstrumentcontract,itrecognizesrelevantfinancialassetsorfinancialliabilities.Allregularacquisitionorsalesoffinancialassetsarerecognizedandderecognizedonatradingdaybasis.Regularacquisitionorsalesoffinancialassetsmeansdeliveringfinancialassetswithinthetimelimitoflaws,regulationsandusualmarketpracticesandinlinewithcontractterms.ThetradingdayreferstothedatewhentheGrouppromisestoacquireorsellfinancialassets.Financialassets(orpartoffinancialassets,orpartofasetofsimilarfinancialassets)arederecognized,i.e.,writtenofffromitsaccountandbalancesheet,ifthefollowingconditionsaremet:
(1)Therighttoreceivecashflowsfromfinancialassetshasexpired;
(2)Therighttoreceivecashflowsfromthefinancialassetsistransferred,ortheobligationtopaythefullamountofcashflowsreceivedtoathirdpartyinatimelymannerisassumedundera"pass-throughagreement";and(a)substantiallyalmostalltherisksandrewardsofitsownershipofthefinancialassetsaretransferred,or(b)controloverthefinancialassetisrelinquished,although
substantiallyalltherisksandrewardsofitsownershipofthefinancialassetsareneithertransferrednorretained.
2.ClassificationandmeasurementoffinancialassetsAtinitialrecognition,accordingtothebusinessmodelofmanagingfinancialassetsandthecontractualcashflowcharacteristicsoffinancialassets,financialassetsoftheGroupareclassifiedintothefollowingcategories:Financialassetsmeasuredattheamortizedcost,financialassetsmeasuredatfairvaluethroughothercomprehensiveincomeofthecurrentperiod,andfinancialassetsmeasuredatfairvaluethroughprofitandlossforthecurrentperiod.Thesubsequentmeasurementoffinancialassetsdependedontheircategories.TheGroup'sclassificationoffinancialassetsisbasedontheGroup'sbusinessmodelformanagingfinancialassetsandthecashflowcharacteristicsofthefinancialassets.
(1)FinancialassetsmeasuredatamortizedcostFinancialassetsthatmeetbothofthefollowingconditionsshallbeclassifiedasfinancialassetsmeasuredatamortizedcost:TheGroup'sbusinessmodelofmanagingthefinancialassetsaimsatobtainingcontractualcashflows;and,asstipulatedbycontractclausesofthefinancialassets,thecashflowsgeneratedonaspecificdatearemerelyforthepaymentofprincipalorinterestfromtheunpaidprincipal.Suchfinancialassetsaresubsequentlymeasuredatamortizedcostusingtheeffectiveinterestmethod.Gainorlossarisingfromderecognitionoramortizationusingtheeffectiveinterestmethodisincludedinprofitandlossforthecurrentperiod.
(2)DebtinstrumentinvestmentmeasuredatfairvaluethroughothercomprehensiveincomeFinancialassetsthatmeetallthefollowingconditionsshallbeclassifiedasfinancialassetsmeasuredatfairvaluethroughothercomprehensiveincome:TheGroup'sbusinessmodelofmanagingthefinancialassetsaimsatobtainingcontractualcashflowsaswellassellingfinancialassets;and,asstipulatedbycontractclausesofthefinancialassets,thecashflowsgeneratedonaspecificdatearemerelyforthepaymentofprincipalorinterestfromtheunpaidprincipal.Suchfinancialassetsshallbesubsequentlymeasuredatfairvalue.Thediscountorpremiumisamortizedusingtheeffectiveinterestmethodandrecognizedasinterestincomeorexpense.Exceptforimpairmentlossesorgainsandexchangedifferencesthatarerecognizedasprofitandlossforthecurrentperiod,changesinthefairvalueofsuchfinancialassetsshallberecognizedasothercomprehensiveincome,untilthefinancialassetsarederecognizedwhenaccumulativegainsorlossesshallbetransferredtoprofitandlossforthecurrentperiod.Interestincomerelatedtosuchfinancialassetsisincludedinprofitorlossforthecurrentperiod.
(3)EquityinstrumentinvestmentmeasuredatfairvaluethroughothercomprehensiveincomeForfinancialassetsmeasuredatfairvaluethroughothercomprehensiveincomethatareirrevocablychosenanddesignatedbytheGroupfromsomenon-tradingequityinstruments,therelevantdividendincomeshallbeincludedinprofitandlossforthecurrentperiodandchangesinthefairvalueshallberecognizedasothercomprehensiveincome,untilthefinancialassetsarederecognizedwhenaccumulativegainsorlossesshallbetransferredtoretainedearnings.
(4)FinancialassetsmeasuredatfairvaluethroughprofitandlossforthecurrentperiodTheaforementionedfinancialassetsmeasuredatamortizedcostandfinancialassetsotherthanthosemeasuredatfairvaluethroughothercomprehensiveincomeareclassifiedasfinancialassetsmeasuredatfairvaluethroughprofitandlossforthecurrentperiod.Atinitialrecognition,inordertoeliminateorsignificantlyreduceaccountingmismatch,financialassetscanbedesignatedasfinancialassetsmeasuredatfairvaluethroughprofitorlossforthecurrentperiod.Suchfinancialassetsshallbemeasuredatfairvalue,andallchangesinfairvalueareincludedintheprofitandlossforthecurrentperiod.WhenandonlywhentheGroupchangesitsbusinessmodelofmanagingfinancialassets,allrelevantfinancialassetsaffectedwillbere-classified.Forfinancialassetsmeasuredatfairvaluethroughprofitandlossforthecurrentperiod,transactioncostsaredirectlyincludedin
profitandlossforthecurrentperiod.Forothertypesoffinancialassets,relatedtransactioncostsareincludedintheirinitialrecognizedamounts.
3.ClassificationandmeasurementoffinancialliabilitiesAtinitialrecognition,thefinancialliabilitiesoftheGroupareclassifiedintothefollowingcategories:Financialliabilitiesmeasuredattheamortizedcost,andfinancialliabilitiesmeasuredatfairvaluethroughprofitandlossforthecurrentperiod.Financialliabilitiescanbedesignatedasfinancialliabilitiesmeasuredatfairvaluethroughprofitorlossforthecurrentperiodatinitialmeasurementifoneofthefollowingconditionsismet:(1)Thedesignationcaneliminateorsignificantlyreduceaccountingmismatch;(2)themanagementandperformanceevaluationofaportfoliooffinancialliabilitiesoraportfoliooffinancialassetsandfinancialliabilitiesarebasedonfairvalueinaccordancewiththeGroup'sriskmanagementorinvestmentstrategyassetoutinaformalwrittendocument,andarereportedtokeymanagementpersonnelonthisbasiswithintheGroup;(3)Thefinancialliabilitiescontainembeddedderivativesrequiresplitting.TheGroupdeterminestheclassificationoffinancialliabilitiesatinitialrecognition.Forfinancialliabilitiesmeasuredatfairvaluethroughprofitandlossforthecurrentperiod,transactioncostsaredirectlyincludedinprofitandlossforthecurrentperiod.Forothertypesoffinancialliabilities,relatedtransactioncostsareincludedintheirinitialrecognizedamounts.Thesubsequentmeasurementoffinancialliabilitiesdependedontheircategories:
(1)FinancialliabilitiesmeasuredatamortizedcostSuchfinancialliabilitiesshallbesubsequentlymeasuredatamortizedcostusingtheeffectiveinterestmethod.
(2)FinancialliabilitiesmeasuredatfairvaluethroughprofitandlossforthecurrentperiodFinancialliabilitiesmeasuredatfairvaluethroughprofitorlossforthecurrentperiodincludetradingfinancialliabilities(includingderivativesthatarefinancialliabilities)andfinancialliabilitiesdesignatedasatfairvaluethroughprofitorlossatinitialrecognition.
4.FinancialinstrumentoffsetThenetamountafterfinancialassetsandfinancialliabilitiesoffseteachotherisreportedinthebalancesheetifbothofthefollowingconditionsaremet:TheGrouphadacurrentlyenforceablelegalrighttooffsettherecognizedamounts;theGroupplannedtosettlethemonanetbasisortorealizethefinancialassetsandpayoffthefinancialliabilitiessimultaneously.
5.Impairmentoffinancialinstrument
(1)ImpairmentmeasurementandaccountinghandlingoffinancialinstrumentBasedonexpectedcreditloss,theCompanyconductsimpairmenthandlingandconfirmslossreserveforfinancialassetswhichismeasuredbyamortizedcost,debtinstrumentinvestmentwhichismeasuredbyfairvalueandwhosechangeiscalculatedintoothercomprehensiveprofits,accountsreceivableofrental,loancommitmentwhichisbeyondfinancialdebtclassifiedastheonewhichismeasuredbyfairvalueandwhosechangeiscalculatedintocurrentprofitsandlosses,financialdebtwhichdoesnotbelongtotheonewhichismeasuredbyfairvalueandwhosechangeiscalculatedintocurrentprofitsorlosses,orfinancialguaranteecontractoffinancialdebtwhichisformedwhenitdoesnotbelongtofinancialassettransferanddoesn’tconformtoconfirmationconditionofterminationorkeepsonbeinginvolvedintransferredfinancialasset.Expectedcreditlossreferstoweightedaverageofcreditlossoffinancialinstrumentwhichtakestheriskofcontractbreachoccurrenceastheweight.Creditlossreferstothedifferencebetweenallcontractcashflowwhichisconvertedintocashaccordingtoactualinterestrateandreceivableaccordingtocontractandallcashflowwhichtobechargedasexpected,i.e.currentvalueofallcashshortage.Amongit,asforfinancialassetpurchasedororiginalwhichhashadcreditimpairment,itshouldbeconvertedintocashaccordingactualinterestrateofthisfinancialassetaftercreditadjustment.Asforfinancialassetpurchasedororiginalwhichhashadcreditimpairment,theCompanyonlyconfirmscumulativechangeofexpectedcreditlosswithinthewholedurationafterinitialconfirmationonthebalancesheetdateaslossreserve.
Asforaccountsreceivablewhichdon’tincludemajorfinancingcontentsortheCompanydoesnotconsiderfinancingcontentsincontractwhichislessthanoneyear,theCompanyappliessimplifiedmeasurementmethod,andmeasureslossreserveaccordingtoamountofexpectedcreditlosswithinthewholeduration.Asforaccountreceivableofrentalandaccountsreceivableincludingmajorfinancingcontents,theCompanyappliessimplifiedmeasurementmethod,andmeasurelossreserveaccordingtoamountofexpectedcreditlosswithinthewholeduration.Asforfinancialassetbeyondabovementionedmeasurementmethods,theCompanyevaluateswhetheritscreditriskhasincreasedobviouslysincetheinitialconfirmationoneachbalancesheetdate.Incasecreditriskhasincreasedobviously,theCompanymeasuresthelossreserveaccordingtoamountofexpectedcreditlosswithinthewholeduration;incasethecreditriskdoesnotincreaseobviously,theCompanymeasureslossreserveaccordingtotheamountofexpectedcreditlossinnext12months.Byutilizingobtainablerationalandwellgroundedinformation,includingforward-lookinginformation,comparingtheriskofcontractbreachonbalancesheetdateandriskofcontractbreachoninitialconfirmationdate,theCompanyconfirmswhetherthecreditriskoffinancialinstrumenthasincreasedobviouslyfrominitialconfirmation.Onbalancesheetdate,incasetheCompanyjudgesthatthefinancialinstrumentjusthasrelativelylowcreditrisk,thenitwillbeassumedthatcreditriskofthefinancialinstrumenthasnotincreasedobviously.Basedonsinglefinancialinstrumentorfinancialportfolio,theCompanyevaluatesexpectedcreditriskandmeasuresexpectedcreditloss.Whenbasedonfinancialinstrumentportfolio,theCompanytakescommonriskcharacteristicsasthebasis,anddividesfinancialinstrumentsintodifferentportfolios.TheCompanymeasuresexpectedcreditlossagainoneachbalancesheetdate,theincreaseoflossreserveoramountwhichistransferbackgeneratedbyitiscalculatedintocurrentprofitsandlossesasimpairmentprofitsorlosses.Asforfinancialassetwhichismeasuredbyamortizedcost,lossreserveoffsetsthecarryingvalueofthefinancialassetlistedinthebalancesheet;asfordebtinvestmentwhichismeasuredbyfairvalueandwhosechangeiscalculatedintoothercomprehensiveprofits,theCompanyconfirmsitslossreserveinothercomprehensiveprofitsanddoesnotoffsetthecarryingvalueofthefinancialasset.
(2)Financialinstrumentsassessingexpectedcreditriskbygroupsandmeasuringexpectedcreditlosses
| Item | Recognitionbasis | Methodofmeasuringexpectedcreditlosses |
| Otherreceivables-intercoursefundsamongrelatedpartygroupwithintheconsolidationscope | Accountsnature | Consultinghistoricalexperienceincreditlosses,combiningactualsituationandpredictionforfutureeconomicsituation,thegroup’sexpectedcreditlossrateshallbeaccountedthroughexposureatdefaultandtheexpectedcreditlossratewithinthenext12monthsortheentirelife |
| Otherreceivables-interestreceivablegroup | ||
| Otherreceivables-otherintercoursefundsamongotherrelatedpartygroup | ||
| Otherreceivables-creditriskcharacteristicsgroup | Aginggroup | Consultinghistoricalexperienceincreditlosses,combiningactualsituationandpredictionforfutureeconomicsituation,thegroup’sexpectedcreditlossrateshallbeaccountedthroughexposureatdefaultandtheexpectedcreditlossratewithinthenext12monthsortheentirelife |
(3)Accountsreceivablewithexpectedcreditlossesmeasuredbygroups
①Specificgroupsandmethodofmeasuringexpectedcreditloss
| Item | Recognitionbasis | Methodofmeasuringexpectedcreditlosses |
| Bank’sacceptancebillsreceivable | Billtype | Consultinghistoricalexperienceincreditlosses,combiningactualsituationandpredictionforfutureeconomicsituation,thegroup’sexpectedcreditlossrateshallbeaccountedthroughexposureatdefaultandtheexpectedcreditlossratewithintheentirelife |
| Tradeacceptancebillsreceivable | ||
| Accountsreceivable-Governmentportfolios | Accountnature | Noprovisionforbaddebtsismadeduringthecreditperiodunlessthereisconclusiveevidenceofimpairmentandtheriskofdefaultislow. |
| Accountsreceivable-otherintercoursefundsamongotherrelatedpartygroup | Accountnature | Consultinghistoricalexperienceincreditlosses,combiningactualsituationandpredictionforfutureeconomicsituation,thegroup’sexpectedcreditloss |
| rateshallbeaccountedthroughexposureatdefaultandtheexpectedcreditlossratewithintheentirelife | ||
| 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.FinancialassettransferFinancialassetsarederecognizediftheGrouphastransferredalmostalltherisksandrewardsofitsownershiptransferredtothetransferor;financialassetsarenotderecognizediftheGrouphasretainedalmostalltherisksandrewardsofitsownership.IftheGrouphasneithertransferrednorretainedalmostalltherisksandrewardsofitsownershipofthetransferredfinancialassets,itwillbetreatedrespectivelyaccordingtothefollowingcircumstances:Ifthecontroloverthefinancialassetsiswaived,relevantfinancialassetsshallbederecognized,andtheassetsandliabilitiesarisingfromthemshallberecognized;ifthecontroloverthefinancialassetsisnotwaived,relevantfinancialassetsshallberecognizedbasedontheextentofcontinuinginvolvementwithtransferredfinancialassets,andrelatedliabilitiesshallberecognizedaccordingly.Ifcontinuinginvolvementisprovidedbywayoffinancialguaranteeforthetransferredfinancialassets,theassetsresultingfromthecontinuinginvolvementarerecognizedatthelowerofthecarryingvalueofthefinancialassetsandthefinancialguaranteeamount.Thefinancialguaranteeamountreferstothemaximumamountoftheconsiderationreceivedthatwillberequiredtoberepaid.
12.NotesReceivableRefertoNoteV11FinancialInstrumentsofthefinancialstatementsfordetails.
13.AccountsReceivableRefertoNoteV11FinancialInstrumentsofthefinancialstatementsfordetails.
14.AccountsReceivableFinancingNotapplicable.
15.OtherReceivablesRefertoNoteV11FinancialInstrumentsofthefinancialstatementsfordetails.
16.ContractAssets
1.MethodsandcriteriaforrecognizingcontractassetsTheCompanypresentscontractassetsorcontractliabilitiesonthebalancesheetaccordingtotherelationshipbetweenthefulfillmentofitscontractperformanceobligationsanditscustomers’payment.ConsiderationsthattheCompanyhastherighttocollectforcommoditiestransferredorservicesprovidedtocustomers(exceptforaccountsreceivable)arepresentedascontractassets.
2.Methodofdeterminingandaccountingforexpectedcreditlossesoncontractassets
TheCompanyappliesasimplifiedmodelforexpectedcreditlossestocontractassetsasprescribedbyAccountingStandardforBusinessEnterprisesNo.14–Revenues,excludingsignificantfinancingcomponents(includingcaseswherefinancingcomponentswithincontractsnotexceedingoneyeararedisregardedunderthestandard),measuringthelossprovisionaccordingtotheamountofexpectedcreditlossoftheentireduration.Theincreasedlossprovisionorreversedamountthereofshallberecordedintothecurrentprofitorlossasimpairmentlossesorgains.Forcontractassetsthatcontainsignificantfinancingcomponents,theCompanyhasmadetheaccountingpolicychoiceandselectedthesimplifiedmodelofexpectedcreditloss,measuringthelossprovisionaccordingtotheamountofexpectedcreditlossoftheentireduration.
17.Inventory
(1)InventoriesClassificationInventoriesincludedevelopmentlandheldforsaleorconsumptionintheprocessofdevelopmentandoperation,developmentproducts,temporarilyleaseddevelopmentproductswhichintendedforsale,relocationhousing,stockmaterials,inventoryequipment,andlow-valueconsumables,etc.,aswellasdevelopmentcostsintheprocessofdevelopment.
(2)CostFlowAssumption
1)Send-outmaterialsshalladoptthemovingweightedaveragemethod.
2)Duringthedevelopmentoftheproject,thedevelopmentlandshallbeincludedinthedevelopmentcostoftheprojectbythefloorareaapportionofthedevelopedproducts.
3)Send-outdevelopedproductsshallbeaccountedbyspecificidentificationmethod.
4)ThetemporarilyleaseddevelopmentproductswhichintendedforsaleandrelocationhousingshallbeamortizedaveragelybystagesaccordingtotheexpectedusefullifeofthesamekindoffixedassetsoftheCompany.
5)Ifthepublicsupportingfacilitiesarecompletedearlierthantherelevantdevelopmentproducts,afterthefinalaccountofthepublicsupportingfacilities，itshallbeaccountintothedevelopmentcostoftherelevantdevelopmentprojectsaccordingtothebuildingarea;Ifthepublicsupportingfacilitiesarecompletedlaterthantherelevantdevelopmentproducts,therelevantdevelopmentproductsshallwithholdthepublicsupportingfacilitiesfees,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
18.AssetsHeldforSaleTheCompanydividesitscomponents(ornon-currentassets)meetingthefollowingconditionsintoavailableforsaleassets:(1)Assetscanbesoldimmediatelyunderthecurrentconditionsaccordingtothepracticeofsellingsuchassetsordisposalgroupsinsimilartransactions;(2)Thesaleislikelytooccur,andaresolutionhasbeenmadeonasaleplanandafirmpurchasecommitmentisobtained(afirmpurchasecommitmentreferstoalegallybindingpurchaseagreementsignedbetweenanenterpriseandotherparties,whichcontainsimportanttermssuchastransactionprice,timeandseverepenaltyforbreachofcontracttominimizethepossibilityofmajoradjustmentorcancellationoftheagreement.Thesaleisexpectedtobecompletedwithinayear.Ithasbeenapprovedbyrelevantauthoritiesorregulatoryauthoritiesaccordingtorelevantregulations.TheCompanyadjuststheestimatednetresidualvalueofavailableforsaleassetstothenetamountofitsfairvalueminusthesellingexpenses(whichshallnotexceedtheoriginalbookvalueoftheassetsavailableforsale).Thedifferencebetweentheoriginalbookvalueandtheadjustedestimatednetresidualvalueshallbeincludedinthecurrentprofitandlossasthelossofassetimpairment,andprovisionsforimpairmentofassetsavailableforsaleshallbemade.Fortheamountofimpairmentlossofdisposalgroupavailableforsalerecognized,thebookvalueofgoodwillofthedisposalgroupshallbeoffsetfirst,andthenthebookvalueofdisposalgroupshallbeoffsetinproportionaccordingtotheshareofthebookvalueofnon-currentassetsinthedisposalgroupmeasuredaccordingtorelevantstandards.Whenthenetamountoffairvalueofnon-currentassetsavailableforsaleminusthesellingexpensesincreasesonthesubsequentbalancesheetdate,theamountpreviouslywrittendownshallberestoredandreversedwithintheamountofassetimpairmentlossrecognizedafterbeingclassifiedasavailableforsaleassets,andthereversedamountshallbeincludedinthecurrentprofitsandlosses.Theimpairmentlossofassetsrecognizedbeforebeingclassifiedasavailableforsaleassetsshallnotbereversed.Whenthenetamountoffairvalueofdisposalgroupavailableforsaleminusthesellingexpensesincreasesonthesubsequentbalancesheetdate,theamountpreviouslywrittendownshallberestoredandreversedwithintheamountofassetimpairmentlossrecognizedasnon-currentassetsinthedisposalgroupmeasuredaccordingtothisStandardafterbeingclassifiedintothecategoriesavailableforsaleassets,andthereversedamountshallbeincludedinthecurrentprofitsandlosses.Thebookvalueofgoodwillthathasbeenoffsetandtheimpairmentlossofnon-currentassetsmeasuredaccordingtorelevantstandardsshallnotbereversedbeforetheyareclassifiedasavailableforsaleassets.Thesubsequentreversalamountofassetimpairmentlossrecognizedasdisposalgroupavailableforsaleshallbeincreasedinproportiontotheshareofthebookvalueofnon-currentassetsinthedisposalgroup,exceptgoodwill,whicharemeasuredaccordingtorelevantstandards.Incasethatanenterpriselosesitscontroloverasubsidiaryduetosaleofitsinvestmentinthesubsidiary,theinvestmentinthesubsidiarytobesoldshallbedividedintotheavailableforsalecategoryinindividualfinancialstatementoftheparentcompanywhentheproposedinvestmentinthesubsidiarymeetstheconditionsforclassificationofavailableforsalecategory,andallassetsandliabilitiesofthesubsidiaryshallbeclassifiedintoavailableforsalecategoryintheconsolidatedfinancialstatements,nomatterwhethertheenterpriseretainspartofequityinvestmentafterthesale.
19.InvestmentsinDebtObligationsNotapplicable.
20.InvestmentsinotherDebtObligationsNotapplicable.
21.Long-termReceivableRefertoNoteV-11.FinancialInstrumentfordetails.
22.Long-termEquityInvestments
(1)JudgmentofJointControlandSignificantInfluences
Theterm"jointcontrol"referstothejointcontroloveranarrangementinaccordancewiththerelatedagreements,whichdoesnotexistunlesstheparticipantssharingthecontrolpoweragreewitheachotherabouttherelatedarrangedactivity.Theterm"significantinfluences"referstothepowertoparticipateinmakingdecisionsonthefinancialandoperatingpoliciesofanenterprise,butnottocontrolordojointcontroltogetherwithotherpartiesovertheformulationofthesepolicies.
(2)RecognitionofInvestmentCost
1)Ifthebusinesscombinationisunderthecommoncontrolandtheacquirerobtainslong-termequityinvestmentintheconsiderationofcash,non-monetaryassetexchange,bearingacquiree’sliabilities,ortheissuanceofequitysecurities,theinitialcostisthecarryingamountoftheproportionoftheacquiree’sowner’sequityattheacquisitiondate.Thedifferencebetweentheinitialcostofthelong-termequityinvestmentandthecarryingamountofthepaidcombinationorthetotalamountoftheissuedsharesshouldbeadjustedtocapitalsurplus.Ifthecapitalsurplusisnotsufficientforadjustment,retainedearningsareadjustedrespectively.Incasesofstep-by-stepimplementationofbusinesscombinationsundercommoncontrol,theinitialinvestmentcostoftheinvestmentshallbetheshareoftheacquiredentity'sequityattributabletotheacquiringentityontheacquisitiondate,calculatedbasedontheownershippercentage.Thedifferencebetweentheinitialinvestmentcostandthesumofthecarryingvalueoftheoriginallong-termEquityInvestmentsandthecarryingvalueofanyadditionalconsiderationpaidforfurthersharesacquiredontheacquisitiondateisadjustedtosharepremium(capitalsurplusorsharepremium).Ifthesharepremiumisinsufficient,itisoffsetagainstretainedearnings.
2)Forbusinesscombinationsnotunderthesamecontrol,thefairvalueofthecombinationconsiderationpaidbyitontheacquisitiondateshallbeitsinitialinvestmentcost.
3)Exceptforbusinesscombination:Ifitisacquiredbypayingcash,theactualacquisitionpriceshallbetakenasitsinitialinvestmentcost;ifitisacquiredbyissuingequitysecurities,thefairvalueoftheissuedequitysecuritiesshallbetakenasitsinitialinvestmentcost;ifitisacquiredbytheinvestmentoftheinvestors,thevalueagreedintheinvestmentcontractoragreementshallbetakenasitsinitialinvestmentcost(exceptwhentheagreedvalueisconsideredunfair).
(3)MethodofsubsequentmeasurementandrecognitionofprofitorlossForlong-termequityinvestmentsininvesteesoverwhichtheCompanyhascontrol,thecostmethodisusedintheCompany'sindividualfinancialstatements;forlong-termequityinvestmentswithjointcontrolorsignificantinfluence,theequitymethodisapplied.Underthecostmethod,long-termequityinvestmentsarevaluedattheinitialinvestmentcost.Exceptforthepriceactuallypaidattheacquisitionofinvestmentorthedeclaredbutundistributedcashdividendsorprofitsincludedintheconsideration,theCompanyrecognizedthereturnoninvestmentofthecurrentperiodinaccordancewiththecashdividendsorprofitsdeclaredanddistributedbytheinvestee,withconsiderationgiventotheimpairmentoflong-terminvestmentsbasedonapplicableimpairmentpolicies.Forlong-termequityinvestmentaccountedforusingtheequitymethod,iftheinitialcostoflong-termequityinvestmentisgreaterthanthefairvalueofidentifiablenetassetsoftheinvestedcompanygainedfromtheinvestment,theexcessshallbeincludedintheinitialinvestmentcostofthelong-termequityinvestment.Iftheinitialinvestmentcostissmallerthanthefairvalueofidentifiablenetassetsoftheinvestedcompanygainedfromtheinvestment,thedifferenceshallbeincludedintheprofitandlossforthecurrentperiod,andthecostoflong-termequityinvestmentsshallbeadjusted.Undertheequitymethod,afteracquiringlong-termequityinvestments,theinvestmentgainsorlossesarerealizedbasedontheshareofnetprofitorlossthattheinvesteeentityshallbeentitledtoorshare.Thelong-termequityinvestment'scarryingvalueisadjustedaccordingly.Whentheshareofthenetprofitsandlossesoftheinvesteeisrecognized,thefairvalueoftheinvestee'sidentifiableassetsatthetimeofobtainingtheinvestmentshallbeusedasthebasis.ThisisdoneinaccordancewiththeCompany'saccountingpoliciesandaccountingperiod,andinternaltransactiongainsandlosseswithjointventuresandassociatesareoffsetbasedontheownershipproportionattributabletotheinvestingcompany(exceptwheninternaltransactionlossesarerelatedtoassetimpairment
losses,inwhichcasetheyshallbefullyrecognized).Subsequenttoadjustingthenetprofitsoftheinvestedinstitutionafterrecognition.Theinvestorreducesthecarryingvalueoflong-termequityinvestmentscorrespondinglywhencalculatingtheportiontobereceivedbasedonthecashdividendsorprofitsdeclaredtobedistributedbytheinvestedcompany.TheCompanyshallrecognizethenetlossesoftheinvestedcompanyuntilthecarryingvalueofthelong-termequityinvestmentandotherlong-termrightsandinterestswhichsubstantiallyformthenetinvestmentmadetotheinvestedcompanyarereducedtozero,unlesstheCompanyhastheobligationtoundertakeextralosses.Asforotherchangesinowners'equityexceptforthenetprofitandlossoftheinvestedcompany,theCompanyshalladjustthecarryingvalueofthelong-termequityinvestmentandincludeitintheowners'equity.
(4)DeterminingthebasisofcommoncontrolandsignificantinfluenceontheinvesteeTheinvestorcontrolstheinvestee,meansthattheinvestorhaspowerovertheinvestee,enjoysvariablereturnsbyparticipatingintherelevantactivitiesoftheinvestee,andhastheabilitytousethepowerovertheinvesteetoaffecttheamountofreturns.Significantinfluencemeansthattheinvestorhastherightstoparticipateinthedecision-makingofthefinancialandoperatingpoliciesoftheinvestee,butcannotcontrolorjointlycontroltheformulationofthesepolicieswithotherparties.
(5)Disposaloflong-termequityinvestments
1)Partialdisposaloflong-termequityinvestmentsinasubsidiarywithoutlosingcontrolInthecaseofapartialdisposaloflong-termequityinvestmentsinasubsidiarywithoutlosingcontrol,thevariancebetweenthedisposalproceedsandthecorrespondingcarryingvalueofthedisposedinvestmentisrecognizedascurrentinvestmentincome.
2)PartialdisposalofequityinvestmentsorotherreasonsforlosingcontrolofasubsidiaryIncaseswherecontroloverasubsidiaryislostduetothedisposalofequityinvestmentsorotherreasons,thecarryingvalueoflong-termequityinvestmentscorrespondingtothedisposedequityshallbetransferred.Thedifferencebetweentheproceedsfromthesaleandthecarryingvalueofthedisposedlong-termequityinvestmentshallberecognizedasinvestmentincome(loss).Atthesametime,theremainingequityshallberecognizedatitscarryingvalueaslong-termequityinvestmentsorotherrelatedfinancialassets.Iftheremainingequityafterthedisposalcanexercisejointcontrolorsignificantinfluenceoverthesubsidiary,accountingtreatmentshallbeconductedinaccordancewithrelevantregulationsontheconversionfromthecostmethodtotheequitymethod.
(6)ImpairmenttestmethodandimpairmentprovisionmethodWhenthereisobjectiveevidenceindicatingimpairmentoftheinvestmentinsubsidiaries,jointventuresandcooperativeenterprisesonthebalancesheetdate,correspondingprovisionforimpairmentshallbemadeaccordingtothedifferencebetweenthebookvalueandrecoverableamount.
23.InvestmentPropertyMeasurementmodeofinvestmentrealestatesMeasurementofcostmethodDepreciationoramortizationmethod
1.Theterm"investmentrealestate"includestherighttouseanylandwhichhasalreadybeenrented,therighttouseanylandwhichisheldandpreparedfortransferafterappreciation,andtherighttouseanybuildingwhichhasalreadybeenrented.
2.TheCompanyinitiallymeasurestheinvestmentpropertyaccordingtothecosts,andadoptsthecostmethodinthesubsequentmeasurementofinvestmentproperty,andadoptsthesamemethodswithfixedassetsandintangibleassetstowithdrawdepreciationoramortization.Whenthereisanyindicationofimpairmentofinvestmentpropertyonthebalancesheetdate,correspondingprovisionforimpairmentshallbemadeaccordingtothedifferencebetweenthebookvalueandrecoverableamount.
24.FixedAssets
(1)RecognizedStandardofFixedAssetsTheterm"fixedassets"referstothetangibleassetsthatsimultaneouslypossessthefeaturesasfollows:theyareheldforthesakeofproducingcommodities,renderinglaborservice,rentingorbusinessmanagement;andtheirusefullifeisinexcessofonefiscalyear.Fixedassetsarerecordedatactualcostatthetimeofacquisitionanddepreciatedusingthestraight-linemethodfromthesecondmonthaftertheyreachtheirintendedserviceablecondition.
(2)DepreciationMethod
| Category | Depreciationmethod | Usefullife(year) | Expectednetsalvagevalue | Annualdeprecation |
| 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 | - | 20 |
25.ConstructioninProgress
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)incurredonthatborrowingduringtheperiodlessanyinvestmentincomeonthetemporaryinvestmentoftheborrowing.Totheextentthatfundsareborrowedgenerallyandusedforthepurposeofacquiringorconstructingaqualifyingasset,theamountofborrowingcostseligibleforcapitalizationshallbedeterminedbyapplyingacapitalizationratetotheweightedaverageofexcessofaccumulatedexpendituresonqualifyingassetoverthatonspecificpurpose
borrowing.Thecapitalizationrateisdeterminedbycalculatingtheweightedaverageinterestrateongeneralborrowings.
27.IntangibleAssets
(1)Usefullifeandthebasisforitsdetermination,estimation,amortizationmethodologyorreviewprocedures
1.Intangibleassetsincluderighttouselandsites,userightofsoftwareetc.andconducttheinitialmeasurementaccordingtothecosts.
2.Withregardtointangibleassetswithlimitedservicelife,itshallbeamortizedsystematicallyandreasonablywithintheirservicelifeaccordingtotheexpectedimplementationofeconomicinterestsrelatedtotheintangibleassets.Ifitcan’trecognizetheexpectedimplementationreliably,itshallbeamortizedbystraight-linemethod.Thespecificusefullivesareasfollows:
| Items | Usefullifeforamortization(years) |
| Userightoflands | Statutorylifeoflanduseright |
| Userightofsoftware | 5 |
Theintangibleassetswithuncertainservicelifeshallnotbeamortized,andtheCompanyrecheckstheservicelifeoftheintangibleassetsineveryaccountingperiod.Forintangibleassetswithuncertainservice,therecognitionbasisiswithoutcertainservicelifeandexpectedbenefitlife.
3.Forintangibleassetswithdefiniteservicelife,whenthereisanyindicationofimpairmentonthebalancesheetdate,correspondingprovisionforimpairmentshallbemadeaccordingtothedifferencebetweenthebookvalueandrecoverableamount;forintangibleassetswithuncertainservicelifeandthosenotreadyforservice,impairmenttestshallbeconductedeveryyearnomatterwhetherthereisanyindicationofimpairment.
(2)ThescopeofR&Dexpenditurecollectionandtherelatedaccountingtreatment
1.ThescopeofR&DexpenditureTheCompanyclassifiesallexpenseslinkedtoR&DactivitiesasR&Dexpenditures,coveringR&Demployeeremuneration,materialinputcosts,depreciationcharges,andamortizationexpenses.
2.TherelatedaccountingtreatmentofR&DexpenditureTheexpendituresintheresearchstageareincludedinthecurrentprofitsandlosseswhenincurred.AnintangibleassetarisingfromthedevelopmentphaseofaninternalprojectisrecognizediftheCompanycandemonstrateallofthefollowing:(1)thetechnicalfeasibilityofcompletingtheintangibleassetsothatitwillbeavailableforuseorsale;(2)itsintentiontocompletetheintangibleassetanduseorsellit;(3)howtheintangibleassetwillgenerateprobablefutureeconomicbenefits,amongotherthings,theCompanycandemonstratetheexistenceofamarketfortheoutputoftheintangibleassetortheintangibleassetitselfor,ifitistobeusedinternally,theusefulnessoftheintangibleasset;(4)theavailabilityofadequatetechnical,financialandotherresourcestocompletethedevelopmentandtouseorselltheintangibleasset;and(5)itsabilitytomeasuretheexpenditureattributabletotheintangibleassetreliablyduringitsdevelopment.
28.ImpairmentofLong-termAssetsForlong-termassetssuchaslong-termequityinvestments,investmentpropertyatcostmodel,fixedassets,constructioninprogress,andintangibleassetswithfiniteusefullives,theassessmentofpotentialindicationsofassetimpairmentisconductedonthebalancesheetdate.Forgoodwillrecognizedinabusinesscombinationandintangibleassetswithindefiniteusefullives,nomatterwhetherthereisanindicationofimpairment,animpairmenttestisperformedannually.Animpairmenttestongoodwillisperformedonarelatedassetgrouporassetgroupportfolio.Theexistenceofthefollowingsignsindicatesthattheassetsmaybeimpaired:
(1)Themarketpriceoftheassetshassignificantlydroppedinthecurrentperiod,withadeclinemuchhigherthanexpectedduetothe
passageoftimeornormalusage;(2)Theeconomic,technological,orlegalenvironmentinwhichthebusinessoperates,aswellasthemarketinwhichtheassetsarelocated,isundergoingorexpectedtoundergosignificantchangesinthecurrentperiodorinthenearfuture,adverselyaffectingthebusiness;(3)Marketinterestratesorothermarketinvestmentreturnshaveincreasedinthecurrentperiod,impactingthediscountrateusedbythebusinesstocalculatethepresentvalueofexpectedfuturecashflowsfromtheassets,resultinginasignificantdecreaseintherecoverableamountoftheassets;(4)Thereisevidenceindicatingthattheassetsareobsoleteortheirphysicalconditionhasdeteriorated;(5)Theassetshavebeenorwillbeidle,discontinued,orplannedforearlydisposal;(6)Internalreportswithinthebusinessshowthattheeconomicperformanceoftheassetsisorwillbelowerthanexpected,suchasthenetcashflowsgeneratedbytheassetsortheoperatingprofit(orloss)achievedbeingsignificantlylowerthan(orhigherthan)theestimatedamount;(7)Otherindicatorssuggestingthattheassetsmayhavebeenimpaired.Ifthereisanysignofimpairmentoftheassets,theirrecoverableamountshallbeestimated.Themeasurementresultoftherecoverableamountshowsthatiftherecoverableamountoftheassetsislowerthantheirbookvalue,thebookvalueoftheassetsshallbewrittendowntotherecoverableamount,andthewritten-downamountshallberecognizedasassetimpairmentlosses,whichshallbeincludedintheprofitandlossforthecurrentperiod,andthecorrespondingassetimpairmentprovisionshallbeaccruedatthesametime.
29.Long-termPrepaidExpensesLong-termprepaidexpensereferstovariousexpensesthatthecompanyhasincurredbutshallbebornebythecurrentandsubsequentperiodsforaperiodofmorethanoneyear(excludingoneyear).Long-termprepaidexpenseshallberecordedintotheaccountaccordingtotheactualaccrual.Long-termprepaidexpenseshallbeamortizedaveragelywithinbenefitperiodorspecifiedperiod.Incaseofnobenefitinthefutureaccountingperiod,theamortizedvalueofsuchprojectthatfailstobeamortizedshallbetransferredintotheprofitsandlossesofthecurrentperiod.
30.ContractLiabilitiesTheCompanypresentscontractassetsorcontractliabilitiesonthebalancesheetaccordingtotherelationshipbetweenthefulfillmentofitscontractperformanceobligationsanditscustomers’payment.ObligationstobefulfilledbytheCompanyoftransferringcommoditiesorprovidingservicestocustomers,astheCompanyhasreceivedorshouldreceivecustomers’considerations,arepresentedascontractliabilities.
31.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,thenetassetsoftheplanshallbemeasuredatthelowerofthesurplusorthe
upperassetlimit;
3)Attheendoftheperiod,thestaffremunerationcostsgeneratedfromadefinedbenefitplanshallberecognizedasservicescosts,netinterestsofthenetliabilitiesornetassetsoftheplanandchangesfromthere-measurementofthenetliabilitiesornetassetsoftheplan.Servicecostsandnetinterestsofthenetliabilitiesornetassetsoftheplanshallberecordedintothecurrentprofitsorlossesorrelatedassetcosts,whilechangesfromthere-measurementofthenetliabilitiesornetassetsoftheplanshallberecordedintoothercomprehensiveincomeandshallnotbetransferredbacktoprofitsorlossesinsubsequentaccountingperiods.Buttheamountsrecognizedinothercomprehensiveincomemaybetransferredwithintheequityscope.
(3)AccountingTreatmentofDemissionWelfareWhentheCompanyisunabletounilaterallywithdrawtheplanonthecancellationoflaborrelationshiporthelayoffproposal,orwhenrecognizingthecostsorexpenses(theearlieronebetweenthetwo)relatedtothereorganizationofpayingthedemissionwelfare,shouldrecognizethepayrollliabilitiesfromthedemissionwelfareandincludeinthecurrentgainsandlosses.
(4)AccountingTreatmentofOtherWelfareoftheLong-termEmployeesTheCompanyprovidestheotherlong-termemployeebenefitsfortheemployees,andforthosemetwiththedefinedcontributionplans,accountingtreatmentshouldbeconductedaccordingtotherelatedregulationsofthedefinedcontributionplans;thefortheotherslong-termemployeebenefitsexceptfortheformer,accountingtreatmentshouldbeconductedaccordingtotherelatedregulationsofthedefinedbenefitplans.Inordertosimplifytherelatedaccountingtreatment,thepayrollsshallberecognizedasservicecosts,thenetamountofinterestofnetliabilitiesandnetassetsofotherwelfareofthelong-termemployees.Thetotalnetamountsmadeupfromthechangesofmeasuringthenetliabilitiesandnetassetsofotherwelfareofthelong-termemployeesagainshallberecordedintothecurrentprofitsandlossesorrelatedassetscosts.
32.Provisions
1.Theobligationsuchasexternalguaranty,litigationorarbitration,productqualityassurance,losscontract,pertinenttoacontingenciesshallberecognizedastheprovisionswhenthefollowingconditionsaresatisfiedsimultaneously:
①Thatobligationisacurrentobligationoftheenterprise;②Itislikelytocauseanyeconomicbenefittoflowoutoftheenterpriseasaresultofperformanceoftheobligation;and③Theamountoftheobligationcanbemeasuredinareliableway.
2.TheCompanyshallconducttheinitialmeasurementtoprovisionsaccordingtothebestestimatenumberneededforperformingtherelatedcurrentobligationandrecheckthecarryingvalueofaccruedliabilitiesonbalancesheetdate.
33.Share-basedPaymentNotapplicable.
34.OtherFinancialInstrumentssuchasPreferenceSharesandPerpetualBondsNotapplicable.
35.RevenueTheAccountingPolicyAdoptedforRecognitionandMeasurementofRevenueDisclosedbyTypeofBusiness
1.RecognitionofrevenueTheCompanygainsrevenuemainlyfrompropertysales,propertymanagement,salesofsoftwareandpropertyleasing(referto39.Leasingformoredetail).TheCompanyrecognizesrevenuewhenithasfulfilledtheobligationofcontractperformance,namely,whenithasacquiredthecontroloftherelatedcommodity.Theacquisitionofcontroloveracommodityreferstothecapacitytocontroltheuseofthecommodityandtogainalmostalleconomicintereststhereof.
2.TheCompanyjudgeswhetheracontractperformanceobligationis“acontractperformanceobligationfulfilledinatimeperiod”or“acontractperformanceobligationfulfilledatatimepoint”accordingtothetermsinrevenuestandards,andrecognizesrevenueaccordingtothefollowingprinciples.
(1)WhentheCompanymeetsoneofthefollowingconditions,theobligationshouldbeclassifiedasacontractperformance
obligationfulfilledinaspecifictimeperiod:
1)ThecustomergainsandconsumestheeconomicinterestsbroughtbytheCompany’scontractperformancewhentheCompanyperformsthecontract.
2)ThecustomerisabletocontroltheassetsinprogressduringtheCompany’scontractperformance.
3)TheassetsproducedduringtheCompany’scontractperformancehaveirreplaceableuse,andtheCompanyhastherighttocollectpaymentinrespectofitscompletedcontractperformanceaccumulatedasofnowthroughouttheentirecontractperiod.Foracontractperformanceobligationfulfilledinatimeperiod,theCompanyrecognizesrevenueaccordingtotheprogresstowardscontractcompletioninthatperiod,butexcludingthecasewhensuchprogresscannotbereasonablydetermined.TheCompanyusestheoutputorinputmethodtodeterminetherightprogresstowardscontractcompletionbyconsideringthenatureofthecommodity.
4)Foronethatisclassifiedasacontractperformanceobligationfulfilledatatimepointinsteadofinatimeperiod,theCompanyrecognizesrevenuewhenthecustomeracquiresthecontrolovertherelatedcommodity.Injudgingwhetherthecustomerhasacquiredthecontroloveracommodity,theCompanyconsidersthefollowingsigns:
1)TheCompanyisentitledtothecurrentrightofpaymentcollectioninrespectofthecommodity.Inotherwords,thecustomerhasthecurrentobligationtopayforthecommodity.
2)TheCompanyhastransferredthelegalownershipofthecommoditytothecustomer.Inotherwords,thecustomerhasownedthelegalownershipofthecommodity.
3)TheCompanyhastransferredthephysicalcommoditytothecustomer.Inotherwords,thecustomerhastakenphysicalpossessionofthecommodity.
4)TheCompanyhastransferredthemajorrisksandremunerationsinrespectoftheownershipofthecommodity.Inotherwords,thecustomerhasacquiredthemajorrisksandremunerationsinrespectoftheownershipofthecommodity.
5)Thecustomerhasacceptedthecommodity.
6)Othersignsindicatingthatthecustomerhasacquiredcontroloverthecommodity.
3.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;Ifabankmortgageisnotselectedforself-payment,thefullamountofthepropertyisreceived),andtherevenueisrecognizedastheearliestofthepointintimewhenthenoticeofrepossessionisissued(whichisdeemedtobethesameasrepossessioniftheownerfailstocompletetheformalitieswithinthestipulatedperiodduetotheowner'sfailuretodosoinatimelymanner)andthepointintimewhentheowneractuallyrepossessestheproperty.
2)ProvidingLaborServicesIftheprovisionoflaborservicescanbereliablyestimated(allthefollowingconditionsaremet:
①Theamountofincomecanbemeasuredreliably;②TherelevanteconomicbenefitsarelikelytoinflowtotheCompany;③Theprogressofthetransactioncanbereliablydetermined;④Thecostincurredandtobeincurredinthetransactioncanbemeasuredreliably),itshallrecognizethe
revenuefromprovidingservicesemployingthepercentage-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)Softwaresalesrevenue①RevenuerecognitionandmeasurementmethodsforsalesofcustomsoftwareandindependentsoftwareproductsCustomsoftwarereferstothespecialsoftwaredesignedanddevelopedafterthefullon-siteinvestigationoftheuser'sbusinessaccordingtothesoftwaredevelopmentcontractsignedwiththecustomerbasedontheactualneedsoftheuser,andtheresultingdevelopedsoftwareisnotuniversal.RevenueisrecognizedovertimebasedontheprogressofcompletedperformanceobligationsoverthecontractperiodonlyifthegoodsproducedbytheCompanyinthecourseofperformancehaveanirreplaceableuseandtheCompanyisentitledtoreceivepaymentforthecumulativeportionofperformancecompletedtodatethroughoutthecontractperiod,withtheprogressofcompletedperformanceobligationsdeterminedbytheproportionofthecontractcostsactuallyincurredtocompletetheperformanceobligationstothetotalestimatedcontractcosts.Otherwise,therevenueisrecognizedatacertainpointintime.Forsalescontractsofindependentsoftwareproductssignedwiththecustomer,thecustomerdirectlypurchasesthestandardversionofthesoftware,i.e.,therealestateandfacilitiesmanagementplatform,andthecorrespondingmodulesaredeployedbyimplementationpersonnelaccordingtothecustomer'srequirements.Inthiscase,theperformanceobligationsaretobeperformedatacertainpointintime.TherevenueisrecognizedaftertheCompanydeliverstheproducttothecustomerandthecustomeracceptstheproduct.②RevenuerecognitionandmeasurementmethodsforsystemsintegrationcontractsSystemintegrationincludesthesaleandinstallationofpurchasedmerchandiseandsoftwareproducts.TherevenueisrecognizedwhentheCompanyhastransferredtheprimaryrisksandrewardsoftheownershipofthepurchasedmerchandisetothepurchaser;theCompanyneitherretainedthecontinuedmanagementrightsusuallyassociatedwiththeownership,noreffectivelycontrolledthesoldgoods;theinstallationandcommissioningofthesystemhavebeencompletedandthesystemhasbeenputintotrialoperation,ortheinitialinspectionreportofthepurchaserisobtained;theeconomicbenefitsrelevanttothetransactionarelikelytoflowintotheCompany,therelevantcostscanbereliablymeasured.③RevenuerecognitionandmeasurementmethodsfortechnicalservicerevenueTechnicalservicerevenuemainlyreferstothebusinessofprovidingconsulting,implementationandafter-salesservicesofproductstocustomersasrequiredbycontracts.Ifaserviceperiodisagreeduponinacontract,itisconsideredasaperformanceobligationtobeperformedwithinacertainperiodoftime,andrevenueisrecognizedforservicessettledwiththecustomerinaccordancewiththecontractedserviceperiodduringtheserviceprovisionperiod.
5)OtherBusinessIncome
(5)Otheroperatingincomeisrecognizedwhenthecustomerobtainscontroloftherelevantgoodsasstipulatedintherelevantcontractsoragreements,uponthefulfillmentofcontractualobligations.
4.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,anddeducttherevenueforthecurrentperiodateithertherecognitionofrelatedrevenueorthepayment(orcommittedpayment)oftheconsiderationtothecustomer,whicheverisearlier,butexcludingthecaseinwhichtheconsiderationpayabletothecustomerisforthepurposeofacquiringfromthecustomerothercommoditiesthatcanbeobviouslydistinguished.IftheCompany’sconsiderationpayabletoacustomerisforthepurposeofacquiringfromthecustomerothercommoditiesthatcanbeobviouslydistinguished,theCompanyshouldconfirmthecommoditypurchasedinthesamewayasinitsotherpurchases.WhentheCompany’sconsiderationpayabletoacustomerexceedsthefairvalueofthecommoditythatcanbeobviouslydistinguished,theexceededamountshouldbeusedtodeductthetransactionprice.Ifthefairvalueofthecommodityacquiredfromthecustomerthatcanbeobviouslydistinguishedcannotbereasonablyestimated,theCompanyshoulddeductthetransactionpricefromtheconsiderationpayabletothecustomer.DifferencesinmethodsfortherecognitionandmeasurementofrevenuecausedbydifferentbusinessmodelsforthesametypeofbusinessNotapplicable.
36.ContractCostsContractcostscomprisecontractperformancecostandcontractacquisitioncost.ThecostincurredbytheCompanyfromperformingacontractisrecognizedintoanassetascontractperformancecostwhenitmeetsthefollowingconditions:
(1)Thiscostdirectlyrelatestoanexistingcontractoracontractexpectedtobeacquired.Itconsistsofdirectlabor,directmaterials,manufacturecosts(orsimilarcosts),costsspecifiedtobebornebythecustomerandothercostsincurredfromthiscontractsolely.
(2)ThiscosthasincreasedtheCompany’ssourcesthatareusedtofulfillitscontractperformanceobligationsinthefuture.
(3)Thiscostisexpectedtoberecovered.
AnincrementalcostthatisincurredbytheCompanyforacquiringacontractandexpectedtoberecoveredisrecognizedintoanassetascontractacquisitioncost.However,forsuchassetwithanamortizationperiodoflessthanoneyear,theCompanyrecognizesthemintocurrentprofit/lossattheiroccurrence.Assetsrelatedtocontractcostsareamortizedonthesamebasisforrecognizingtherevenuefromcommoditiesorservicesrelatedtosuchassets.Whenthecarryingvalueofanassetrelatedtocontractcostsishigherthanthedifferencebetweenthefollowingtwoitems,theCompanywillwithdrawimpairmentprovisionfortheexceededpartandrecognizeitasassetimpairmentloss:
(1)Residualconsiderationexpectedtobegainedfromtransferringcommoditiesandservicesrelatedtothisasset;
(2)Costsexpectedtobeincurredfromtransferringsuchcommoditiesorservices.Whentheaforementionedassetimpairmentprovisionisreversedlater,thecarryingvalueoftheassetafterthereversalshouldnotexceeditscarryingvalueonthereversaldateundertheassumptionofnowithdrawalofimpairmentprovision.
37.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,whicharedifficulttojudgewhethertheyarerelatedtoassetsorprofits,theentiretyshallbeclassifiedasprofits-relatedgovernmentsubsidies.Profits-relatedgovernmentsubsidiesthatareusedtocompensatetherelatedfutureexpensesorlossesshallberecognizedasdeferredincomeandshallbeincludedintothecurrentprofit/lossesoroffsetrelevantcostsduringtheperiodwhentherelevantexpensesorlossesarerecognized;thosesubsidiesusedtocompensatetherelatedexpensesorlossesincurredshallbedirectlyincludedintothecurrentprofits/lossesoroffsetrelevantcosts.
4.GovernmentsubsidiesrelatedtotheCompany’sroutineoperatingactivitiesshallbeincludedintootherincomeorwritedownrelatedcostsaccordingtotheeconomicbusinessnature.GovernmentsubsidiesnotrelatedtotheCompany’sroutineactivitiesshallbeincludedintonon-operatingincomeandexpenditure.
38.DeferredIncomeTaxAssets/DeferredIncomeTaxLiabilities
1.Inaccordancewiththebalance(theitemnotrecognizedasassetsandliabilitiescanconfirmtheirtaxbasesaccordingtothetaxlaw,thebalancebetweenthetaxbasesanditscarryingamount)betweenthecarryingamountofassetsorliabilitiesandtheirtaxbases,deferredtaxassetsanddeferredtaxliabilitiesshouldberecognizedatthetaxratesthatareexpectedtoapplytotheperiodwhentheassetisrealizedortheliabilityissettled.
2.Adeferredtaxassetshallberecognizedwithinthelimitoftaxableincomethatislikelytobeobtainedtooffsetthedeductibletemporarydifferences.Atthebalancesheetdate,wherethereisstrongevidenceshowingthatsufficienttaxableprofitwillbeavailableagainstwhichthedeductibletemporarydifferencecanbeutilized,thedeferredtaxassetunrecognizedinpriorperiodshallberecognized.
3.TheCompanyassessesthecarryingamountofdeferredtaxassetatthebalancesheetdate.Ifit’sprobablethatsufficienttaxableprofitwillnotbeavailableagainstwhichthedeductibletemporarydifferencecanbeutilized,theCompanyshallwritedownthecarryingamountofdeferredtaxasset,orreversetheamountwrittendownlaterwhenit’sprobablethatsufficienttaxableprofitwillbeavailable.
4.ThecurrentincometaxanddeferredincometaxoftheCompanyarerecordedintothecurrentgainsandlossesasincometaxexpensesorrevenue,exceptinthefollowingcircumstances:(1)Businesscombination;(2)Thetransactionoreventdirectlyincludedinowner’equity.
39.Lease
(1)AccountingtreatmentforleasesasthelesseeOnthebeginningdateoftheleaseterm,theCompanywillrecognizetheleasewithaleasetermnotexceeding12monthsandexcludethepurchaseoptionasashort-termlease.Leaseswithlowervaluewhenasingleleasedassetisabrand-newassetareidentifiedaslow-valueassetleases.IftheCompanysubletsorexpectstosublettheleasedassets,theoriginalleaseshallnotbedeemedasalow-valueassetlease.TheCompanyrecordsthepaymentsofshort-termandlow-valueassetleasesincurredduringeachperiodoftheleasetermintherelevantassetcostsortheprofitorlossforthecurrentperiodbytheunits-of-consumptionmethod.TheCompanywillrecognizeright-of-useassetsandleaseliabilitiesontheinceptiondateoftheleaseterm,excludingtheaboveshort-termandlow-valueassetleases.
1)Right-of-useassetsTheright-of-useassetismeasuredatcostandthecostshallcomprise:1)theamountoftheinitialmeasurementoftheleaseliabilities;
2)anyleasepaymentsmadeatorbeforethecommencementdate,lessanyleaseincentivesreceived;3)anyinitialdirectcostsincurredbythelessee;and4)anestimateofcoststobeincurredbythelesseeindismantlingandremovingtheunderlyingasset,restoringthesiteonwhichitislocatedorrestoringtheunderlyingassettotheconditionrequiredbythetermsandconditionsofthelease.TheCompanydepreciatestheright-of-useassetusingthestraight-linemethod.Ifitisreasonablycertainthatownershipoftheleasedasset(s)willbeobtainedattheendoftheleaseterm,theCompanydepreciatestheleasedasset(s)overits/theirremainingservicelife.Ifitisnotreasonablycertainthattheownershipoftheleaseholdpropertywillbeobtainedattheendoftheleaseterm,theCompanywilldepreciatetheleasedasset(s)overtheleasetermortheremainingservicelife,whicheverisshorter.
2)LeaseliabilitiesAtthecommencementdate,theCompanymeasurestheleaseliabilitiesatthepresentvalueoftheleasepaymentsthatarenotpaidatthatdate,TheCompanyusestheinterestrateimplicitinleaseastherateofdiscountwhencalculatingthepresentvalueoftheleasepayments.Theincrementalinterestrateonborrowingofthelesseewillbeusedastherateofdiscount,iftheinterestrateimplicitinleasecannotbedetermined.Thedifferencebetweentheleasepaymentanditspresentvalueisregardedasanunrecognizedfinancingexpense.Interestexpenseisrecognizedatthediscountrateofthepresentvalueoftherecognizedleasepaymentduringeachperiodoftheleasetermandisrecordedintheprofitandlossforthecurrentperiod.Variableleasepaymentsthatarenotcoveredinthemeasurementoftheleaseliabilitiesareincludedincurrentprofitorlosswhenactuallyincurred.Afterthecommencementdate,ifthereisachangeinthefollowingitems:(a)actualfixedpayments;(b)amountsexpectedtobepayableunderresidualvalueguarantees;(c)anindexorarateusedtodetermineleasepayments;(d)assessmentresultorexerciseofpurchaseoption,extensionoptionorterminationoption.,theCompanyremeasurestheleaseliabilitiesbasedonthepresentvalueof
leasepaymentsafterchanges,andadjuststhecarryingamountoftheright-of-useassetaccordingly.Ifthecarryingamountoftheright-of-useassetisreducedtozerobutthereshallbeafurtherreductionintheleaseliabilities,theremainingamountshallberecognizedintoprofitorloss.
(2)AccountingtreatmentofleasesasthelessorOnthestartdateoftheleaseterm,theCompanydividestheleasethatsubstantiallytransfersalmostallrisksandrewardsrelatedtotheownershipoftheleasedassetsintofinanceleases,exceptforoperatingleases.
1)OperatingleaseTheCompanyrecognizestheleasepaymentsreceivableasrentalearningsineachperiodwithintheleasetermonastraight-linebasis.Theinitialdirectcostsrelatedtotheoperatingleasearecapitalized,amortizedwithintheleasetermonthesamebasisastherecognitionofrentalearnings,andincludedintheprofitorlossforthecurrentperiod.VariableleasepaymentsobtainedbytheCompanyinrelationtooperatingleasesthatarenotincludedintheleasereceivableareincludedintheprofitorlossforthecurrentperiodwhentheyareactuallyincurred.
2)FinancialleaseAtthecommencementdate,theCompanyrecognizesthefinanceleasepaymentreceivablebasedonthenetinvestmentinthelease(sumofthepresentvalueofunguaranteedresidualvalueandleasereceiptsthatarenotreceivedatthecommencementdate,discountedbytheinterestrateimplicitinthelease),andderecognizesassetsheldunderthefinancelease.TheCompanycalculatesandrecognizesinterestincomeusingtheinterestrateimplicitintheleaseovertheleaseterm.Variableleasepaymentsnotincludedinthemeasurementofthenetinvestmentintheleasearechargedasprofitorlossintheperiodsinwhichtheyareincurred.
3)UnderleaseTheCompany,astheunderleaselessor,appliedaccountingtreatmenttotheheadleaseagreementandthesubleaseagreementinaccordancewiththeaccountingrequirementsofboththelesseeandlessor.Ifaheadleaseisashort-termleaseandsimplifiedaccountingtreatmentwasapplied,thenitclassifiesthesub-leaseasanoperatinglease.
(3)Saleandleaseback
1.TheCompanyasthelesseeTheCompanyassesseswhethertheassettransferinasaleandleasebacktransactionisasaleinaccordancewithrelevantprovisionsoftheAccountingStandardsforBusinessEnterprisesNo.14-Income.Iftheassettransferinasaleandleasebacktransactionisasale,theCompanymeasurestheright-of-useassetsformedbythesaleandleasebackbasedontheportionoftheoriginalasset'scarryingvaluethatisrelatedtotheuserightacquiredbytheleaseback,andrecognizesrelatedgainsorlossesonlyfortherighttransferredtothelessor.Iftheassettransferinasaleandleasebacktransactionisnotasale,theCompanycontinuestorecognizethetransferredassetandatthesametimerecognizesafinancialliabilityequivalenttothetransferincome,andconductscorrespondingaccountingtreatmentforthefinancialliabilityinaccordancewiththeAccountingStandardsforBusinessEnterprisesNo.22-RecognitionandMeasurementofFinancialInstruments.
2.TheCompanyaslessorTheCompanyassesseswhethertheassettransferinasaleandleasebacktransactionisasaleinaccordancewithrelevantprovisionsoftheAccountingStandardsforBusinessEnterprisesNo.14-Income.Iftheassettransferinasaleandleasebacktransactionisasale,theCompanyappliesotheraccountingstandardsforbusinessenterprisestotheaccountingtreatmentforassetpurchase,andconductscorrespondingaccountingtreatmentforassetleaseinaccordancewiththeAccountingStandardforBusinessEnterprisesNo.21-Leases.Iftheassettransferinasaleandleasebacktransactionisnotasale,theCompanydoesnotrecognizethetransferredasset,butrecognizesafinancialassetequivalenttothetransferincome,andconductscorrespondingaccountingtreatmentforthefinancialassetinaccordancewiththeAccountingStandardsforBusinessEnterprisesNo.22-RecognitionandMeasurementofFinancialInstruments.
40.OtherImportantAccountingPoliciesandAccountingEstimationsConfirmationstandardandaccountinghandlingmethodforoperationterminationComponentswhichmeetoneofthefollowingconditions,havebeendisposedordividedasheldforsalecategoryandcanbedistinguishedseparatelyareconfirmedasoperationtermination.
1)Thecomponentrepresentsoneimportantindependentmainbusinessoronesinglemainoperationarea.
2)Thecomponentisonepartofarelatedplanwhichplanstodisposeoneindependentmainbusinessoronesinglemainoperationarea.
41.ChangesinMainAccountingPoliciesandEstimates
(1)ChangeofAccountingPolicies?Applicable□Notapplicable
Unit:RMB
| Contentandreasonofchangesinaccountingpolicies | Nameofstatementitemmateriallyaffected | Amountaffected |
| Attheinitiationoftheleasetransaction,thelesseeacknowledgestheleaseliabilityandincorporatestheright-of-useassetwithoutexemptingtheinitialrecognitionofdeferredtaxliabilitiesandassets,resultingintherecognitionoftherespectivedeferredtaxliabilitiesanddeferredtaxassetsatthetransactionoccurrence. | Deferredincometaxassetson31December2022 | 24,500,761.16 |
| Deferredincometaxliabilities31December2022 | 22,737,325.56 | |
| Surplusreserve31December2022 | 5,970.29 | |
| Retainedearnings31December2022 | 1,697,650.08 | |
| Minorityinterests31December2022 | 59,815.23 | |
| Incometaxexpensefor2022 | 330,314.64 | |
| Netprofitfor2022 | -330,314.64 |
(2)ChangesinAccountingEstimates
□Applicable?Notapplicable
(3)AdjustmentstoFinancialStatementItemsattheBeginningoftheYearoftheFirstImplementationoftheNewAccountingStandardsImplementedsince2023
□Applicable?NotapplicableNoteofadjustment
42.Other
IntheNoteofthefinancialstatements,thedataoftheperiod-beginningreferstothefinancialstatementdataon1January2023;thedataoftheperiod-endreferstothefinancialstatementdataon31December2023;theReportingPeriodreferstothe2023;thesameperiodoflastyearreferstothe2022.ThesametotheCompanyastheparent.
VITaxes
1.MainTaxesandTaxRates
| Categoryoftaxes | Taxbasis | Taxrate |
| VAT | Salesofgoodsorprovisionoftaxableservices | Note1 |
| Urbanmaintenanceandconstructiontax | Turnovertaxpayable | Appliedto7%,5%,1%separatelyaccordingtotheregionallevel |
| Enterpriseincometax | Taxableincome | 25%、20%、15%、16.5% |
| VATofland | Addedvaluegeneratedfrompaidtransferoftheuserightofstate-ownedlandsandpropertyrightofabove-groundbuildingsandotherattachments | 30%-60% |
| Realestatetax | Leviedaccordingtoprice:paidaccordingto1.2%oftheresidualvalueoftherealestate’soriginalvalueafterdeducted30%atonce;leviedaccordingtolease:paidaccordingto12%oftherentalincome | 1.2%、12% |
| Educationsurcharge | Turnovertaxpayable | 3% |
| Localeducationsurcharge | Turnovertaxpayable | 2% |
Notesofthedisclosuresituationofthetaxpayingbodieswithdifferententerprisesincometaxrate
| Name | Incometaxrate |
| ChongqingShenzhenInternationalTradeCenterPropertyManagementCo.,Ltd. | 15% |
| ShenzhenInternationalTradeCenterPropertyManagementCo.,Ltd.ChongqingBranch | 15% |
| ShenzhenFacilityManagementCommunityCo.,Ltd | 15% |
| ShenzhenPropertyEngineeringandConstructionSupervisionCo.,Ltd. | 20% |
| ShenzhenJulianHumanResourcesDevelopmentCo.,Ltd. | 20% |
| ShenzhenJinhailianPropertyManagementCo.,Ltd. | 20% |
| ShenzhenZhongtongdaHouseXiushanServiceCo.,Ltd. | 20% |
| ShenzhenKangpingIndustryCo.,Ltd. | 20% |
| ShenzhenTeacherFamilyTrainingCo.,Ltd. | 20% |
| ShenzhenEducationIndustryCo.,Ltd. | 20% |
| ShenzhenYufaIndustryCo.,Ltd. | 20% |
| ChongqingAoboElevatorCo.,Ltd. | 20% |
| ShenzhenSZPRDYanzihuDevelopmentCo.,Ltd. | 20% |
| ShenzhenSZPRDFuyuantaiDevelopmentCo.,Ltd. | 20% |
| ShenzhenSocialWelfareGeneralCompany | 20% |
| ShenzhenFuyuanminPropertyManagementCo.,Ltd. | 20% |
| ShenzhenMeilongIndustrialDevelopmentCo.,Ltd. | 20% |
| ShenzhenSportsServiceCo.,Ltd. | 20% |
| ShenzhenPenghongyuanIndustrialDevelopmentCo.,Ltd. | 20% |
| ShenzhenGuoguanElectromechanicalDeviceCo.,Ltd. | 20% |
| ShenzhenShenshanSpecialCooperationZoneGuomaoPropertyDevelopmentCo.,Ltd. | 20% |
| ShenzhenHelinhuaConstructionManagementCo.,Ltd. | 20% |
| ShenzhenGuomaoTonglePropertyManagementCo.,Ltd. | 20% |
| ShenzhenForeignTradePropertyManagementCo.,Ltd. | 20% |
| ShenzhenFubaoUrbanResourcesManagementCo.,Ltd. | 20% |
| ShenzhenShenwuElevatorCo.,Ltd. | 20% |
| ShenzhenShenfangPropertyCleaningCo.,Ltd. | 20% |
| ShandongInternationalTradeCenterHotelManagementCo.,Ltd. | 20% |
| ShenzhenShenfubaoHydropowerMunicipalServiceCo.,Ltd. | 20% |
| ShenzhenJiayuanPropertyManagementCo.,Ltd. | 20% |
| ShenzhenGuomaoShenlvGardeningCo.，Ltd. | 20% |
| BeijingFacilityHomeTechnologyCo.,Ltd. | 20% |
| SubsidiariesregisteredinHongKongarea | 16.50% |
| SubsidiariesregisteredinVietnamarea | 20% |
| Othertaxpayingbodieswithintheconsolidatedscope | 25% |
2.TaxPreferenceAccordingtotheregulationsofNo.2,PropertyServiceofNo.37,CommercialServiceamongtheencouragingcategoryoftheGuidanceCatalogueofIndustryStructureAdjustment(Y2011),thewesternindustrymetwiththeconditionsshouldbecollectedthecorporateincometaxaccordingto15%ofthetaxrate.ThesubsidiariesoftheGroupChongqingShenzhenInternationalTradeCenterPropertyManagementCo.,Ltd.andShenzhenInternationalTradeCenterPropertyManagementCo.,Ltd.ChongqingBranchappliedtoabovepolicy.On19December2022,ShenzhenFacilityManagementCommunityTechnologyCo.,Ltd.successfullypassedthere-evaluationforitsHigh-techEnterpriseCertificate.ThecompanyhasbeenassignedcertificatenumberGR202244204675,andthecertificateisvalidforthreeyears.Asperthetaxlawsandregulations,thecompanywillbeeligibleforapreferentialenterpriseincometaxrateof15%fortheyear2023.AccordingtotheAnnouncementoftheStateTaxationAdministrationandtheMinistryofFinanceonFurtherImplementingthePreferentialIncomeTaxPolicyforSmallandMicroEnterprises(AnnouncementNo.13of2022oftheMinistryofFinanceandtheStateTaxationAdministration),forsmallandmicro-profitenterprises,iftheirannualtaxableincomeexceedsRMB1millionbutdoesnotexceedRMB3millionfrom1January2022to31December2024,thetaxableincomewillbereducedby25%,andtheenterpriseincometaxratewillbe20%.AccordingtotheAnnouncementoftheStateTaxationAdministrationandtheMinistryofFinanceontheImplementationofPreferentialIncomeTaxPoliciesforSmallandMicroEnterprisesandIndividualIndustrialandCommercialEntities(AnnouncementNo.6of2023oftheMinistryofFinanceandtheStateTaxationAdministration),from1January2023to31December2024,fortheportionoftheannualtaxableincomeofsmall-andmicro-sizedenterprisesnotexceedingRMB1million,thetaxableincomeshallbereducedby25%andsubjecttoenterpriseincometaxatarateof20%.AccordingtotheAnnouncementoftheStateTaxationAdministrationandtheMinistryofFinanceonFurtherSupportingSmallandMicroEnterprisesandIndividualIndustrialandCommercialBusinessesthroughRelevantTaxandFeePolicies
(AnnouncementNo.12of2023oftheMinistryofFinanceandtheStateTaxationAdministration),forsmallandmicroenterprises,thepolicyofapplyingareducedrateof25%forcalculatingthetaxableincomeandpayingenterpriseincometaxatarateof20%willcontinuetobeimplementeduntil31December2027.Thispolicyappliesto29subsidiaries,includingShenzhenPropertyEngineeringandConstructionSupervisionCo.,Ltd.andShenzhenJulianHumanResourcesDevelopmentCo.,Ltd.
3.Other[Note1]:TaxableitemsandtaxrateoftheVAToftheCompanyanditssubsidiariesareasfollows:
| Typeoftherevenue | Generalrate | Percentagechargesof |
| Salesofhouseproperty | 9% | 5% |
| Rentofrealestate | 9% | 5% |
| Propertyservice | 6% | 3% |
| Cateringservice | 6% | 3% |
| Others | 13% | -- |
VII.NotestoMainItemsofConsolidatedFinancialStatements
1.MonetaryAssets
Unit:RMB
| Item | Endingbalance | Beginningbalance |
| Cashonhand | 75,265.01 | 43,833.00 |
| Bankdeposits | 2,742,094,318.81 | 1,512,202,363.19 |
| Othermonetaryfunds | 6,628,892.90 | 5,282,697.64 |
| Total | 2,748,798,476.72 | 1,517,528,893.83 |
| Ofwhich:totalamountdepositedoverseas | 62,161,463.84 | 66,436,595.66 |
Othernotes:
Attheendoftheperiod,theamountofrestrictioninusebyguaranteed,pledgedorfrozenisRMB15,659,341.60,mainlyincludingthemarginandinterestofRMB3,333,604.61;thefundswithlimiteduserightsinbankdepositsmainlyincludethebankfrozenfundsofRMB3,681,570.32andtheinterestontimedepositsofRMB8,644,166.67.Theaboveamountisnotregardedascashandcashequivalentsduetorestrictionsonuse.ThefundsdepositedoverseasaremainlythebalanceofmonetaryassetsoftheoverseassubsidiariesShumYipDevelopmentCompanyLimitedandVietnamShenguomaoPropertyManagementCo.,Ltd.
2.TradingFinancialAssets
Unit:RMB
| Item | Endingbalance | Beginningbalance |
| Ofwhich: | ||
| Ofwhich: |
Othernotes:
3.NotesReceivable
(1)NotesReceivableListedbyCategory
Unit:RMB
| Item | Endingbalance | Beginningbalance |
(2)DisclosurebyWithdrawalMethodsforBadDebts
Unit:RMB
| Category | Endingbalance | Beginningbalance | ||||||||
| Carryingamount | Baddebtprovision | Carryingvalue | Carryingamount | Baddebtprovision | Carryingvalue | |||||
| Amount | Proportion | Amount | Withdrawalproportion | Amount | Proportion | Amount | Withdrawalproportion | |||
| Ofwhich: | ||||||||||
| Ofwhich: | ||||||||||
Ifadoptingthegeneralmodeofexpectedcreditlosstowithdrawbaddebtprovisionofnotesreceivable:
□Applicable?Notapplicable
(3)BadDebtProvisionWithdrawal,ReversedorRecoveredintheCurrentPeriodWithdrawalofbaddebtprovision:
Unit:RMB
| Category | Beginningbalance | Changesinthecurrentperiod | Endingbalance | |||
| Withdrawal | Reversedorrecovered | Verification | Others | |||
Ofwhichsignificantamountofrecoveredortransferred-backbaddebtprovisionforthecurrentperiod:
□Applicable?Notapplicable
(4)NotesReceivablePledgedbytheCompanyatthePeriod-end
Unit:RMB
| Item | Endingpledgedamount |
(5)NotesReceivableWhichHadEndorsedbytheCompanyorhadDiscountedandhadnotDueontheBalanceSheetDateatthePeriod-end
Unit:RMB
| Item | Amountofrecognitionterminationattheperiod-end | Amountofnotterminatedrecognitionattheperiod-end |
(6)NotesReceivableWritten-offinCurrentPeriod
Unit:RMB
| Item | Written-offamount |
Ofwhich,verificationofsignificantnotesreceivable:
Unit:RMB
| Nameoftheentity | Nature | Written-offamount | Reasonforverification | Verificationproceduresperformed | Whetheroccurredbecauseofrelated-partytransactions |
Notesoftheverificationofnotesreceivable
4.AccountsReceivable
(1)DisclosurebyAging
Unit:RMB
| Aging | Endingcarryingamount | Beginningcarryingamount |
| Withinoneyear(including1year) | 425,235,829.74 | 394,914,334.75 |
| Onetotwoyears | 83,584,196.31 | 31,016,372.76 |
| Twotothreeyears | 19,037,312.67 | 12,333,910.99 |
| Morethanthreeyears | 127,356,876.62 | 120,622,137.82 |
| Threetofouryears | 10,334,088.28 | 6,141,296.85 |
| Fourtofiveyears | 4,135,080.24 | 4,392,591.92 |
| Over5years | 112,887,708.10 | 110,088,249.05 |
| Total | 655,214,215.34 | 558,886,756.32 |
(2)DisclosurebyWithdrawalMethodsforBadDebts
Unit:RMB
| Category | Endingbalance | Beginningbalance | ||||||||
| Carryingamount | Baddebtprovision | Carryingvalue | Carryingamount | Baddebtprovision | Carryingvalue | |||||
| Amount | Proportion | Amount | Withdrawalproportion | Amount | Proportion | Amount | Withdrawalproportion | |||
| AccountsreceivablewithdrawalofBaddebtprovisionseparatelyaccrued | 115,895,721.46 | 17.69% | 113,235,195.18 | 97.70% | 2,660,526.28 | 111,808,371.14 | 20.01% | 109,689,294.54 | 98.10% | 2,119,076.60 |
| Ofwhich: | ||||||||||
| Accountsreceivablewithdrawalofbaddebtprovisionofbygroup | 539,318,493.88 | 82.31% | 39,172,566.28 | 7.26% | 500,145,927.60 | 447,078,385.18 | 79.99% | 29,263,546.48 | 6.55% | 417,814,838.70 |
| Ofwhich: | ||||||||||
| Total | 655,214,215.34 | 100.00% | 152,407,761.46 | 23.26% | 506,088,217.25 | 558,886,756.32 | 100.00% | 138,952,841.02 | 24.86% | 419,933,915.30 |
Baddebtprovisionseparatelyaccrued:113235195.18
Unit:RMB
| Name | Beginningbalance | Endingbalance | ||||
| Carryingamount | Baddebtprovision | Carryingamount | Baddebtprovision | Withdrawalproportion | Reasonforwithdraw | |
| ShenzhenJiyongProperties&ResourcesDevelopmentCompany | 93,811,328.05 | 93,811,328.05 | 93,811,328.05 | 93,811,328.05 | 100.00% | Involvedinlawsuitandunrecoverable |
| ShenzhenTeweiIndustryCo.,Ltd. | 2,836,561.00 | 2,836,561.00 | 2,836,561.00 | 2,836,561.00 | 100.00% | Expectedtobeunrecoverable |
| LunanIndustryCorporation | 2,818,284.84 | 2,818,284.84 | 2,818,284.84 | 2,818,284.84 | 100.00% | Expectedtobeunrecoverable |
| ShenzhenHampooScience&TechnologyCo.,Ltd. | 1,436,020.29 | 1,433,070.29 | 1,436,020.29 | 1,433,070.29 | 99.79% | Expectedtobeunrecoverable |
| Thosewithinsignificantsingleamountforwhichbaddebtprovisionseparatelyaccrued | 10,906,176.96 | 8,790,050.36 | 14,993,527.28 | 12,335,951.00 | 82.28% | Uncollectibleforalongperiod |
| Total | 111,808,371.14 | 109,689,294.54 | 115,895,721.46 | 113,235,195.18 |
Withdrawalofbaddebtprovisionbygroup:39,172,566.28
Unit:RMB
| Name | Endingbalance | ||
| Carryingamount | Baddebtprovision | Withdrawalproportion | |
| Portfolioofcreditriskfeatures | 305,321,229.88 | 27,133,657.43 | 8.89% |
| Portfoliooftransactionswithotherrelatedparties | 212,618,383.72 | 12,038,908.85 | 5.66% |
| Governmentportfolio | 21,378,880.28 | ||
| Total | 539,318,493.88 | 39,172,566.28 | |
Notestothedeterminationbasisforthegroup:
Ifadoptingthegeneralmodeofexpectedcreditlosstowithdrawbaddebtprovisionofaccountsreceivable:
□Applicable?Notapplicable
(3)BadDebtProvisionWithdrawal,ReversedorRecoveredintheCurrentPeriodWithdrawalofbaddebtprovision:
Unit:RMB
| Category | Beginningbalance | Changesinthecurrentperiod | Endingbalance | |||
| Withdrawal | Reversedorrecovered | Verification | Others | |||
| Baddebtprovisionseparatelyaccrued | 109,689,294.54 | 3,545,900.64 | 113,235,195.18 | |||
| Withdrawalofbaddebtprovisionbygroup | 29,263,546.48 | 9,909,019.80 | 39,172,566.28 | |||
| Total | 138,952,841.02 | 13,454,920.44 | 152,407,761.46 | |||
Ofwhichsignificantamountofrecoveredortransferred-backbaddebtprovisionforthecurrentperiod:
Unit:RMB
| Nameoftheentity | Amountreversedorrecovered | Reasonforreversal | Wayofrecovery | Basisandrationalityofdeterminingtheoriginalwithdrawalproportionofbaddebtprovision |
N/A
(4)AccountsReceivableWritten-offinCurrentPeriod
Unit:RMB
| Item | Written-offamount |
Ofwhichtheverificationofsignificantaccountsreceivable:
Unit:RMB
| Nameoftheentity | Nature | Written-offamount | Reasonforverification | Verificationprocedures | Whetheroccurredbecauseofrelated- |
| performed | partytransactions |
Notestoverificationofaccountsreceivable:
(5)Top5oftheEndingBalanceoftheAccountsReceivableandtheContractAssetsCollectedaccordingtoArrearsParty
Unit:RMB
| Nameoftheentity | Endingbalanceofaccountsreceivable | Endingbalanceofcontractassets | Endingbalanceofaccountsreceivableandcontractassets | Proportiontototalendingbalanceofaccountsreceivableandcontractassets | Endingbalanceofbaddebtprovisionofaccountsreceivableandimpairmentprovisionforcontractassets |
| ShenzhenBayTechnologyDevelopmentCo.,Ltd. | 137,865,750.97 | 137,865,750.97 | 21.01% | 7,568,725.60 | |
| ShenzhenFutianTalentAnjuCo.,Ltd. | 109,392,112.37 | 109,392,112.37 | 16.67% | 3,281,763.37 | |
| ShenzhenJiyongProperties&ResourcesDevelopmentCompany | 93,811,328.05 | 93,811,328.05 | 14.30% | 93,811,328.05 | |
| HebeiShenbaoInvestmentDevelopmentCo.,Ltd. | 27,085,777.03 | 361,513.73 | 27,447,290.76 | 4.18% | 812,573.31 |
| ShenzhenFutianDistrictGovernmentPropertyManagementCentre | 21,378,880.28 | 21,378,880.28 | 3.26% | ||
| Total | 389,533,848.70 | 361,513.73 | 389,895,362.43 | 59.42% | 105,474,390.33 |
5.ContractAssets
(1)ListofContractAssets
Unit:RMB
| Item | Endingbalance | Beginningbalance | ||||
| Carryingamount | Baddebtprovision | Carryingvalue | Carryingamount | Baddebtprovision | Carryingvalue | |
| Municipalengineeringretentionmoney | 844,485.57 | 844,485.57 | 1,094,632.90 | 1,094,632.90 | ||
| Total | 844,485.57 | 844,485.57 | 1,094,632.90 | 1,094,632.90 | ||
(2)SignificantchangesintheamountofcarryingvalueandthereasonintheReportingPeriod
Unit:RMB
| Item | Changeinamount | Reason(s) |
(3)DisclosurebyWithdrawalMethodsforBadDebts
Unit:RMB
| Category | Endingbalance | Beginningbalance | ||||
| Carryingamount | Baddebtprovision | Carrying | Carryingamount | Baddebtprovision | Carrying | |
| Amount | Proportion | Amount | Withdrawalproportion | value | Amount | Proportion | Amount | Withdrawalproportion | value | |
| Ofwhich: | ||||||||||
| Ofwhich: |
Withdrawalofbaddebtprovisionbyadoptingthegeneralmodeofexpectedcreditloss
□Applicable?Notapplicable
(4)BadDebtProvisionWithdrawal,ReversedorRecoveredintheCurrentPeriod
Unit:RMB
| Item | Withdrawalofthecurrentperiod | ReversalorrecoveryintheReportingPeriod | Write-off/verifiedforthecurrentperiod | Reason |
Ofwhichsignificantamountofrecoveredortransferred-backbaddebtprovisionforthecurrentperiod:
Unit:RMB
| Nameoftheentity | Amountreversedorrecovered | Reasonforreversal | Wayofrecovery | Basisandrationalityofdeterminingtheoriginalwithdrawalproportionofbaddebtprovision |
Othernotes:
(5)ContractAssetsWritten-offinCurrentPeriod
Unit:RMB
| Item | Written-offamount |
Ofwhichtheverificationofsignificantcontractassets
Unit:RMB
| Nameoftheentity | Nature | Written-offamount | Reasonforverification | Verificationproceduresperformed | Whetheroccurredbecauseofrelated-partytransactions |
Notestoverificationofcontractassets:
Othernotes:
6.AccountsReceivableFinancing
(1)AccountsReceivableFinancingListedbyCategory
Unit:RMB
| Item | Endingbalance | Beginningbalance |
(2)DisclosurebyWithdrawalMethodsforBadDebts
Unit:RMB
| Category | Endingbalance | Beginningbalance | ||||||||
| Carryingamount | Baddebtprovision | Carryingvalue | Carryingamount | Baddebtprovision | Carryingvalue | |||||
| Amount | Proportion | Amount | Withdrawalproportion | Amount | Proportion | Amount | Withdrawalproportion | |||
| Ofwhich: | ||||||||||
| Ofwhich: | ||||||||||
Withdrawalofbaddebtprovisionbyadoptingthegeneralmodeofexpectedcreditloss
Unit:RMB
| Baddebtprovision | Firststage | Secondstage | Thirdstage | Total |
| Expectedcreditlossinthenext12months | Expectedlossintheduration(creditimpairmentnotoccurred) | Expectedlossintheduration(creditimpairmentoccurred) | ||
| Balanceof1January2023inthecurrentperiod |
ThebasisforthedivisionofeachstageandthewithdrawalproportionofbaddebtprovisionNotestosignificantchangesinthecarryingamountofaccountsreceivablefinancingwithamountchangedoflossprovisioninthecurrentperiod:
(3)BadDebtProvisionWithdrawal,ReversedorRecoveredintheCurrentPeriod
Unit:RMB
| Category | Beginningbalance | Changesinthecurrentperiod | Endingbalance | |||
| Withdrawal | Reversedorrecovered | Charged-off/Written-off | Otherchanges | |||
Ofwhichsignificantamountofrecoveredortransferred-backbaddebtprovisionforthecurrentperiod:
Unit:RMB
| Nameoftheentity | Amountreversedorrecovered | Reasonforreversal | Wayofrecovery | Basisandrationalityofdeterminingtheoriginalwithdrawalproportionofbaddebtprovision |
Othernotes:
(4)AccountsReceivableFinancingPledgedbytheCompanyatthePeriod-end
Unit:RMB
| Item | Endingpledgedamount |
(5)AccountsReceivableFinancingWhichHadEndorsedbytheCompanyorhadDiscountedandhadnotDueontheBalanceSheetDateatthePeriod-end
Unit:RMB
| Item | Amountofrecognitionterminationattheperiod-end | Amountofnotterminatedrecognitionattheperiod-end |
(6)AccountsReceivableFinancingwithActualVerificationfortheCurrentPeriod
Unit:RMB
| Item | Written-offamount |
Ofwhichtheverificationofsignificantaccountsreceivablefinancing
Unit:RMB
| Nameoftheentity | Nature | Written-offamount | Reasonforverification | Verificationprocedures | Whetheroccurredbecauseofrelated- |
| performed | partytransactions |
Notestoverification:
(7)ThechangesofaccountsreceivablefinancingintheCurrentPeriodandthechangesinfairvalue
(8)OtherNotes
7.OtherReceivables
Unit:RMB
| Item | Endingbalance | Beginningbalance |
| Otherreceivables | 624,394,372.82 | 639,903,523.33 |
| Total | 624,394,372.82 | 639,903,523.33 |
(1)InterestReceivable
1)CategoryofInterestReceivable
Unit:RMB
| Item | Endingbalance | Beginningbalance |
2)SignificantOverdueInterest
Unit:RMB
| Entity | Endingbalance | Overduetime | Overduereason | Whetheroccurredimpairmentanditsjudgmentbasis |
Othernotes:
3)DisclosurebyWithdrawalMethodsforBadDebts
□Applicable?Notapplicable
4)BadDebtProvisionWithdrawal,ReversedorRecoveredintheCurrentPeriod
Unit:RMB
| Category | Beginningbalance | Changesinthecurrentperiod | Endingbalance | |||
| Withdrawal | Reversedorrecovered | Charged-off/Written-off | Otherchanges | |||
Ofwhichsignificantamountofrecoveredortransferred-backbaddebtprovisionforthecurrentperiod:
Unit:RMB
| Nameoftheentity | Amountreversedorrecovered | Reasonforreversal | Wayofrecovery | Basisandrationalityofdeterminingtheoriginalwithdrawalproportionofbaddebtprovision |
Othernotes:
5)InterestReceivableWritten-offinCurrentPeriod
Unit:RMB
| Item | Written-offamount |
Ofwhichtheverificationofsignificantinterestreceivable:
Unit:RMB
| Nameoftheentity | Nature | Written-offamount | Reasonforverification | Verificationproceduresperformed | Whetheroccurredbecauseofrelated-partytransactions |
Notestoverification:
Othernotes:
(2)DividendReceivable
1)CategoryofDividendReceivable
Unit:RMB
| Project(orinvestee) | Endingbalance | Beginningbalance |
2)SignificantDividendsReceivableAgingover1Year
Unit:RMB
| Project(orinvestee) | Endingbalance | Aging | Reason | Whetheroccurredimpairmentanditsjudgmentbasis |
3)DisclosurebyWithdrawalMethodsforBadDebts
□Applicable?Notapplicable
4)BadDebtProvisionWithdrawal,ReversedorRecoveredintheCurrentPeriod
Unit:RMB
| Category | Beginningbalance | Changesinthecurrentperiod | Endingbalance |
Withdrawal
| Withdrawal | Reversedorrecovered | Charged-off/Written-off | Otherchanges |
Ofwhichsignificantamountofrecoveredortransferred-backbaddebtprovisionforthecurrentperiod:
Unit:RMB
| Nameoftheentity | Amountreversedorrecovered | Reasonforreversal | Wayofrecovery | Basisandrationalityofdeterminingtheoriginalwithdrawalproportionofbaddebtprovision |
Othernotes:
5)DividendsReceivableWritten-offinCurrentPeriod
Unit:RMB
| Item | Written-offamount |
Ofwhichtheverificationofsignificantdividendsreceivable:
Unit:RMB
| Nameoftheentity | Nature | Written-offamount | Reasonforverification | Verificationprocedures | Whetheroccurredbecauseofrelated- |
| performed | partytransactions |
Notestoverification:
Othernotes:
(3)OtherReceivables
1)CategoryofOtherReceivablesbyAccountNature
Unit:RMB
| Nature | Endingcarryingamount | Beginningcarryingamount |
| Securitydeposit | 9,813,980.43 | 14,333,480.59 |
| Margin | 45,417,519.59 | 33,052,554.40 |
| Reservefund | 63,090.95 | 315,131.82 |
| Paymentonbehalf | 2,826,478.51 | 7,861,406.33 |
| Intercoursefunds | 597,882,606.95 | 645,712,452.33 |
| Others | 63,021,059.95 | 26,868,828.99 |
| Total | 719,024,736.38 | 728,143,854.46 |
2)DisclosurebyAging
Unit:RMB
| Aging | Endingcarryingamount | Beginningcarryingamount |
| Withinoneyear(including1year) | 39,565,801.00 | 45,898,989.35 |
| Onetotwoyears | 11,760,542.45 | 582,305,977.29 |
| Twotothreeyears | 571,247,946.92 | 32,848,373.42 |
| Morethanthreeyears | 96,450,446.01 | 67,090,514.40 |
| Threetofouryears | 31,254,533.77 | 1,460,635.19 |
| Fourtofiveyears | 1,068,702.68 | 1,563,169.64 |
| Over5years | 64,127,209.56 | 64,066,709.57 |
| Total | 719,024,736.38 | 728,143,854.46 |
3)DisclosurebyWithdrawalMethodsforBadDebts
?Applicable□Notapplicable
Unit:RMB
| Category | Endingbalance | Beginningbalance | ||||||||
| Carryingamount | Baddebtprovision | Carryingvalue | Carryingamount | Baddebtprovision | Carryingvalue | |||||
| Amount | Proportion | Amount | Withdrawalproportion | Amount | Proportion | Amount | Withdrawalproportion | |||
| Baddebtprovisionseparatelyaccrued | 627,054,431.42 | 87.21% | 47,169,474.26 | 7.52% | 579,884,957.16 | 626,762,447.67 | 86.08% | 47,091,584.18 | 7.51% | 579,670,863.49 |
| Ofwhich: | ||||||||||
| Withdrawalofbaddebtprovisionbygroup | 91,970,304.96 | 12.79% | 47,460,889.30 | 51.60% | 44,509,415.66 | 101,381,406.79 | 13.92% | 41,148,746.95 | 40.59% | 60,232,659.84 |
| Ofwhich: | ||||||||||
| Total | 719,024,736.38 | 100.00% | 94,630,363.56 | 13.16% | 624,394,372.82 | 728,143,854.46 | 100.00% | 88,240,331.13 | 12.12% | 639,903,523.33 |
Baddebtprovisionseparatelyaccrued:47,169,474.26
Unit:RMB
| Name | Beginningbalance | Endingbalance | ||||
| Carryingamount | Baddebtprovision | Carryingamount | Baddebtprovision | Withdrawalproportion | Reasonforwithdraw | |
| ShenzhenXinhaiHoldingCo.,Ltd.andtherelatedpartyShenzhenXinhaiRongyaoRealEstateDevelopmentCo.,Ltd.,ShenzhenQianhaiAdvancedInformationServiceCo.,Ltd. | 587,289,550.00 | 17,618,686.51 | 587,289,550.00 | 17,618,686.51 | 3.00% | Prudentjudgmentofrecoveryrisk |
| ShenzhenTianjunIndustrialCo.,Ltd. | 10,000,000.00 | 10,000,000.00 | ||||
| ShanghaiYutongRealEstateCo.,Ltd. | 5,676,000.00 | 5,676,000.00 | 5,676,000.00 | 5,676,000.00 | 100.00% | Uncollectibleforalongperiod |
| HongKongYueHengDevelopmentCo.,Ltd. | 3,271,837.78 | 3,271,837.78 | 3,271,837.78 | 3,271,837.78 | 100.00% | Uncollectibleforalongperiod |
| DameishaTourismCentre | 2,576,445.69 | 2,576,445.69 | 2,576,445.69 | 2,576,445.69 | 100.00% | Uncollectibleforalongperiod |
| Elevatedtrainproject | 2,542,332.43 | 2,542,332.43 | 2,542,332.43 | 2,542,332.43 | 100.00% | Uncollectibleforalongperiod |
| Thosewithinsignificantsingleamountforwhichbaddebtprovisionseparatelyaccrued | 15,406,281.77 | 15,406,281.77 | 15,698,265.52 | 15,484,171.85 | 98.64% | Uncollectibleforalongperiod |
| Total | 626,762,447.67 | 47,091,584.18 | 627,054,431.42 | 47,169,474.26 | ||
Withdrawalofbaddebtprovisionbygroup:47,460,889.30
Unit:RMB
| Name | Endingbalance | ||
| Carryingamount | Baddebtprovision | Withdrawalproportion | |
| Withinoneyear(including1year) | 23,075,962.34 | 691,185.85 | 3.00% |
| 1-2years(including2years) | 3,314,367.18 | 331,442.66 | 10.00% |
| 2-3years(including3years) | 4,736,819.03 | 1,421,055.79 | 30.00% |
| 3-4years(including4years) | 31,254,533.77 | 15,627,266.89 | 50.00% |
| 4-5years(including5years) | 993,422.68 | 794,738.15 | 80.00% |
| Over5years | 28,595,199.96 | 28,595,199.96 | 100.00% |
| Total | 91,970,304.96 | 47,460,889.30 | |
Notestothedeterminationbasisforthegroup:
Withdrawalofbaddebtprovisionbyadoptingthegeneralmodeofexpectedcreditloss:
Unit:RMB
| Baddebtprovision | Firststage | Secondstage | Thirdstage | Total |
| Expectedcreditlossinthenext12months | Expectedlossintheduration(creditimpairmentnotoccurred) | Expectedlossintheduration(creditimpairmentoccurred) | ||
| Balanceof1January2023 | 58,445,816.20 | 29,794,514.93 | 88,240,331.13 | |
| Balanceof1January2023inthecurrentperiod | ||||
| ——TransferredtophaseII | -17,297,069.24 | 17,297,069.24 | ||
| Withdrawalofthecurrentperiod | 6,369,310.29 | 77,890.08 | 6,447,200.37 | |
| Amounttransferred-backforthecurrentperiod | 57,167.94 | 57,167.94 | ||
| Balanceof31December2023 | 47,460,889.30 | 17,297,069.24 | 29,872,405.02 | 94,630,363.56 |
ThebasisforthedivisionofeachstageandthewithdrawalproportionofbaddebtprovisionChangesofcarryingamountwithsignificantamountchangedoflossprovisioninthecurrentperiod
□Applicable?Notapplicable
4)BadDebtProvisionWithdrawn,ReversedorRecoveredintheCurrentPeriodWithdrawalofbaddebtprovision:
Unit:RMB
| Category | Beginningbalance | Changesinthecurrentperiod | Endingbalance | |||
| Withdrawal | Reversedorrecovered | Charged-off/Written-off | Others | |||
| Baddebtprovisionseparatelyaccrued | 47,091,584.18 | 77,890.08 | 47,169,474.26 | |||
| Withdrawalofbaddebtprovisionbygroup | 41,148,746.95 | 6,369,310.29 | 57,167.94 | 47,460,889.30 | ||
| Total | 88,240,331.13 | 6,447,200.37 | 57,167.94 | 94,630,363.56 | ||
Ofwhichthebaddebtprovisionrecoveredortransferred-backwithsignificantamountduringthecurrentperiod:
Unit:RMB
| Nameoftheentity | Amountreversedorrecovered | Reasonforreversal | Wayofrecovery | Basisandrationalityofdeterminingtheoriginalwithdrawalproportionofbaddebtprovision |
5)ParticularsoftheActualVerificationofOtherReceivablesduringtheCurrentPeriod
Unit:RMB
| Item | Written-offamount |
Ofwhichtheverificationofsignificantotherreceivables:
Unit:RMB
| Nameoftheentity | Nature | Written-offamount | Reasonforverification | Verificationproceduresperformed | Whetheroccurredbecauseofrelated-partytransactions |
Notestotheverificationofotherreceivables:
6)Top5oftheEndingBalanceofOtherReceivablesCollectedaccordingtotheArrearsParty
Unit:RMB
| Nameoftheentity | Nature | Endingbalance | Aging | Proportiontototalendingbalanceofotherreceivables% | Endingbalanceofbaddebtprovision |
| ShenzhenXinhaiHoldingCo.,Ltd.andtherelatedpartyShenzhenXinhaiRongyaoRealEstateDevelopmentCo.,Ltd. | Intercoursefunds | 576,568,974.73 | Betweentwoyearandfiveyears | 80.19% | 17,297,069.25 |
| ShenzhenBanglingStockCooperativeCompany | Intercoursefunds | 30,000,000.00 | Betweenthreeyearandfouryears | 4.17% | 15,000,000.00 |
| ShenzhenQianhaiAdvancedInformationServiceCo.,Ltd. | Intercoursefunds | 10,720,575.27 | Betweentwoyearandthreeyears | 1.49% | 321,617.26 |
| ShenzhenBayTechnologyDevelopmentCo.,Ltd. | Intercoursefunds | 10,065,313.75 | Within1year | 1.40% | 301,959.41 |
| Total | 627,354,863.75 | 87.25% | 32,920,645.92 |
7)PresentationinOtherReceivablesduetotheCentralizedManagementofFunds
Unit:RMBOthernotes:
N/A
8.Prepayment
(1)PrepaymentListedbyAgingAnalysis
Unit:RMB
| Aging | Endingbalance | Beginningbalance | ||
| Amount | Proportion | Amount | Proportion | |
| Within1year | 11,077,693.87 | 88.07% | 98,477,532.46 | 97.56% |
| Onetotwoyears | 388,465.12 | 3.09% | 1,652,279.14 | 1.64% |
| Twotothreeyears | 304,932.40 | 2.42% | 1,438.19 | 0.00% |
| Morethanthreeyears | 211,994.96 | 6.42% | 210,556.77 | 0.80% |
| Total | 11,983,086.35 | 100,341,806.56 | ||
Notesofthereasonsoftheprepaymentagingover1yearwithsignificantamountbutfailedsettledintime:
(2)Top5PrepaymentinEndingBalanceCollectedaccordingtothePrepaymentTarget
| Nameoftheentity | Endingbalance | Proportiontototalendingbalanceofaccountsprepaid(%) |
| YangzhouBroadcastingTelevisionNetworkCo.,Ltd. | 2,775,769.50 | 22.07 |
| ChongqingYudiAssetsManagementCo.,Ltd. | 1,897,674.45 | 15.09 |
| ChinaStateConstruction&Engineering4thBureau5thCorpLimited | 568,181.04 | 4.52 |
| BeijingJingdongCenturyInformationTechnologyCo.,Ltd. | 514,727.63 | 4.09 |
| HangzhouNewWindowsInformationTechnologyCo.,Ltd. | 311,946.90 | 2.48 |
| Total | 6,068,299.52 | 48.24 |
Othernotes:
9.InventoriesWhethertheCompanyneedstocomplywiththedisclosurerequirementsfortherealestateindustryYes
(1)CategoryofInventory
TheCompanyshallcomplywiththedisclosurerequirementsfortherealestateindustryintheSelf-regulatoryGuidelinesNo.3forCompaniesListedonShenzhenStockExchange-IndustryInformationDisclosure.Classificationbynature:
Unit:RMB
| Item | Endingbalance | Beginningbalance | ||||
| Carryingamount | Depreciationreservesofinventoriesorimpairmentprovisionforcontractperformancecosts | Carryingvalue | Carryingamount | Depreciationreservesofinventoriesorimpairmentprovisionforcontractperformancecosts | Carryingvalue | |
| R&Dexpenses | 11,174,583,667.43 | 218,824,035.97 | 10,955,759,631.46 | 10,778,950,699.23 | 6,648,404.13 | 10,772,302,295.10 |
| Developingproperties | 141,176,477.91 | 141,176,477.91 | 199,674,693.59 | 199,674,693.59 | ||
| Contractperformancecosts | 1,965,933.85 | 1,965,933.85 | ||||
| Rawmaterials | 1,533,601.80 | 915,223.04 | 618,378.76 | 1,891,354.81 | 1,040,612.30 | 850,742.51 |
| Inventorygoods | 2,564,024.46 | 2,094,300.39 | 469,724.07 | 2,536,973.19 | 2,094,300.39 | 442,672.80 |
| Low-valueconsumables | 184,883.54 | 184,883.54 | 97,885.52 | 97,885.52 | ||
| Total | 11,320,042,655.14 | 221,833,559.40 | 11,098,209,095.74 | 10,985,117,540.19 | 9,783,316.82 | 10,975,334,223.37 |
Disclosemainitemsof“R&Dexpenses”andinterestcapitalizationinthefollowingformat:
Unit:RMB
| Projectname | Timeforcommencement | Estimateddateof | Estimatedtotal | Beginningbalance | Transferredtodeveloping | Otherdecreased | Increase(R&D | Endingbalance | Accumulatedamountof | Ofwhich:amountof | Capitalresources |
| completion | investment | propertiesforthecurrentperiod | amountforthecurrentperiod | expenses)forthecurrentperiod | interestcapitalization | capitalizedinterestsforthecurrentperiod | |||||
| LanhuShidaiproject | 15October2020 | 10September2026 | 8,400,000,000.00 | 4,686,202,152.53 | 535,922,056.32 | 5,222,124,208.85 | 357,489,702.39 | 119,186,192.41 | Bankloans | ||
| SZPRD-FuchangGardenPhaseII(FuhuiHuayuan) | 27December2018 | 15May2023 | 911,330,000.00 | 747,287,571.94 | 787,279,703.02 | 39,992,131.08 | 0.00 | Others | |||
| HumenSeaBayproject | 22March2022 | 30April2024 | 3,217,590,000.00 | 2,361,567,910.93 | 198,080,476.58 | 2,559,648,387.51 | 9,600,985.30 | 9,600,985.30 | Bankloans | ||
| GuangmingYutangShangfuproject | 7March2022 | 21October2024 | 2,658,680,000.00 | 1,792,278,782.42 | 202,943,925.14 | 1,995,222,707.56 | 3,810,146.41 | 3,810,146.41 | Bankloans | ||
| Yupinluanshan(commercialandresidentialconstructionprojectofNo.A117-12land) | 236,433,505.64 | 236,433,505.64 | 0.00 | Others | |||||||
| LandofHongqiTown,Haikou | 6,648,404.13 | 6,648,404.13 | Others | ||||||||
| ShenhuiGarden | 37,256,048.16 | 31,716.38 | 37,287,764.54 | Others | |||||||
| Fuyuantaiproject | 12,754,337.65 | 3,348,052.49 | 16,102,390.14 | Others | |||||||
| YangzhouShouxihuEcologicalHealthValleyproject | 6March2023 | 31August2026 | 2,529,110,000.00 | 863,966,304.45 | 431,687,658.55 | 1,295,653,963.00 | Others | ||||
| Others | 34,555,681.38 | 7,340,160.32 | 41,895,841.70 | Others | |||||||
| Total | -- | -- | 17,716,710,000.00 | 10,778,950,699.23 | 787,279,703.02 | 236,433,505.64 | 1,419,346,176.86 | 11,174,583,667.43 | 370,900,834.10 | 132,597,324.12 | -- |
Disclosemainitemsof“Developingproperties”inthefollowingformat:
Unit:RMB
| Projectname | Timeofcompletion | Beginningbalance | Increaseforthecurrentperiod | Decreaseforthecurrentperiod | Endingbalance | Accumulatedamountofinterestcapitalization | Ofwhich:amountofcapitalizedinterestsforthecurrentperiod |
| SZPRD-LangqiaoInternational | 1December2012 | 3,447,316.75 | 3,447,316.75 | 83,077,702.96 | |||
| SZPRD-HupanYujingPhaseI | 1June2015 | 56,815,090.28 | 26,673,381.36 | 30,141,708.92 | |||
| SZPRD-BanshanYujingPhaseII | 12January2022 | 3,607,397.06 | 70,407.65 | 3,536,989.41 | 10,446,911.43 | ||
| SZPRD-SonghuLangyuan | 1July2017 | 24,200,327.47 | 1,153,387.44 | 23,046,940.03 | 27,205,315.95 | ||
| SZPRD-HupanYujingPhaseII | 1November2017 | 30,517,813.23 | 238,482.45 | 30,279,330.78 | 30,539,392.65 | ||
| SZPRD-GoldenCollar’sResort | 1December2019 | 72,260,564.44 | 35,314,083.61 | 36,946,480.83 | |||
| SZPRD-Fuchang | 15May2023 | 0.00 | 787,279,703.02 | 782,328,176.19 | 4,951,526.83 |
| GardenPhaseII(FuhuiHuayuan) | ||||||
| InternationalTradeCenterPlaza | 1December1995 | 4,839,083.10 | 4,839,083.10 | 26,385,636.29 | ||
| HuangyuyuanAArea | 1June2001 | 790,140.58 | 790,140.58 | |||
| PodiumBuildingofFuchangBuilding | 1November1999 | 645,532.65 | 645,532.65 | |||
| Otheritems | 2,551,428.03 | 2,551,428.03 | ||||
| Total | -- | 199,674,693.59 | 787,279,703.02 | 845,777,918.70 | 141,176,477.91 | 177,654,959.28 |
Classificationof“Developingpropertieswiththecollectionofpaymentsininstallments”,“Rentingdevelopingproperties”and“TemporaryHousing”:
Unit:RMB
| Projectname | Beginningbalance | Increaseforthecurrentperiod | Decreaseforthecurrentperiod | Endingbalance |
(2)FallingPriceReservesofInventoryandImpairmentReservesforContractPerformanceCosts
Disclosureoffallingprovisionwithdrawalofinventoryinthefollowingformat:
Classificationbynature:
Unit:RMB
| Item | Beginningbalance | Increasedamountofthecurrentperiod | Decreasedamountforthecurrentperiod | Endingbalance | Notes | ||
| Withdrawal | Others | Transferred-backorcharged-off | Others | ||||
| R&Dexpenses | 6,648,404.13 | 212,175,631.84 | 218,824,035.97 | ||||
| Rawmaterials | 1,040,612.30 | 37.12 | 125,426.38 | 915,223.04 | |||
| Inventorygoods | 2,094,300.39 | 2,094,300.39 | |||||
| Total | 9,783,316.82 | 212,175,668.96 | 125,426.38 | 221,833,559.40 | |||
Classificationbynature:
Unit:RMB
| Projectname | Beginningbalance | Increasedamountofthecurrentperiod | Decreasedamountforthecurrentperiod | Endingbalance | Notes | ||
| Withdrawal | Others | Transferred-backorcharged-off | Others | ||||
| LandofHongqiTown,Haikou | 6,648,404.13 | 6,648,404.13 | |||||
| HumenSeaBayproject | 187,141,155.12 | 187,141,155.12 | |||||
| YangzhouShouxihuEcologicalHealthValleyproject | 25,034,476.72 | 25,034,476.72 | |||||
| Total | 6,648,404.13 | 212,175,631.84 | 218,824,035.97 | ||||
(3)NotestotheEndingBalanceofInventoriesIncludingCapitalizedBorrowingExpense
| Projectname | Period-begin | Currentperiod | Carry-overincurrentperiod | Period-end |
| SZPRD-GoldenCollar’sResort | 341,681.06 | 77,414.17 | 264,266.89 | |
| LanhuShidaiproject | 238,303,509.98 | 119,186,192.41 | 357,489,702.39 | |
| SZPRD-LangqiaoInternational | 2,971,986.54 | 2,971,986.54 | ||
| SZPRD-HupanYujingPhaseI | 1,249,515.42 | 1,249,515.42 | ||
| HumenSeaBayproject | 9,600,985.30 | 9,600,985.30 | ||
| GuangmingYutangShangfuproject | 3,810,146.41 | 3,810,146.41 | ||
| YangzhouShouxihuEcologicalHealthValleyproject | 460,955.00 | 460,955.00 | ||
| Total | 242,866,693.00 | 133,058,279.12 | 77,414.17 | 375,847,557.95 |
(4)InventoryRestrictions
Disclosingrestrictedinventorybyproject:
Unit:RMB
| Projectname | Beginningbalance | Endingbalance | Reasonforrestriction |
10.Held-for-saleAssets
Unit:RMB
| Item | Endingcarryingamount | Impairmentprovision | Endingcarryingamount | Fairvalue | Estimateddisposalexpense | Estimateddisposaltime |
Othernotes:
11.CurrentPortionofNon-currentAssets
Unit:RMB
| Item | Endingbalance | Beginningbalance |
(1)InvestmentsinDebtObligationsDuewithinOneYear
□Applicable?Notapplicable
(2)OtherInvestmentsinDebtObligationsDuewithinOneYear
□Applicable?Notapplicable
12.OtherCurrentAssets
Unit:RMB
| Item | Endingbalance | Beginningbalance |
| PrepaidVAT | 22,096,062.08 | 16,846,758.27 |
| Deductedinputtax | 97,304,885.00 | 28,950,002.85 |
| Prepaidincometax | 4,608,593.92 | 1,436,395.15 |
| PrepaidlandVAT | 862,126.84 | 16,438,505.72 |
| Prepaidurbanconstructiontax | 1,692,524.35 | 1,156,118.20 |
| Prepaideducationsurcharge | 1,208,945.98 | 825,798.74 |
| ImmediaterebateofreceivablesoftwaresalesVAT | 1,687.34 | 1,687.34 |
| Total | 127,774,825.51 | 65,655,266.27 |
Othernotes:
13.InvestmentsinDebtObligations
(1)ListofInvestmentsinDebtObligations
Unit:RMB
| Item | Endingbalance | Beginningbalance | ||||
| Carryingamount | Impairmentprovision | Carryingvalue | Carryingamount | Impairmentprovision | Carryingvalue | |
Changesintheimpairmentprovisionforinvestmentsindebtobligationsduringthecurrentperiod
Unit:RMB
| Item | Beginningbalance | Increaseforthecurrentperiod | Decreaseforthecurrentperiod | Endingbalance |
(2)SignificantInvestmentsinDebtObligationsatthePeriod-end
Unit:RMB
| Item | Endingbalance | Beginningbalance | ||||||||
| Parvalue | Couponrate | Actualinterestrate | Maturitydate | Overdueprincipal | Parvalue | Couponrate | Actualinterestrate | Maturitydate | Overdueprincipal | |
(3)Statusofaccrueddepreciationreserves
Unit:RMB
| Baddebtprovision | Firststage | Secondstage | Thirdstage | Total |
| Expectedcreditlossinthenext12months | Expectedlossintheduration(creditimpairmentnotoccurred) | Expectedlossintheduration(creditimpairmentoccurred) | ||
| Balanceof1January2023inthecurrentperiod |
Thebasisforthedivisionofeachstageandthewithdrawalproportionofbaddebtprovision
(4)StatusofInvestmentsinDebtObligationsWritten-offinCurrentPeriod
Unit:RMB
| Item | Written-offamount |
OfwhichtheverificationofsignificantinvestmentsindebtobligationsNotestoverificationofinvestmentsindebtobligations:
Changesofcarryingamountwithsignificantamountchangedoflossprovisioninthecurrentperiod
□Applicable?NotapplicableOthernotes:
14.OtherInvestmentsinDebtObligations
(1)ListofOtherInvestmentsinDebtObligations
Unit:RMB
| Item | Beginningbalance | Accruedinterest | Interestadjustment | Changeinfairvalueinthereportingperiod | Endingbalance | Cost | Accumulatedchangesinfairvalue | Accumulatedimpairmentprovisionrecognizedinothercomprehensiveincome | Notes |
Changesintheimpairmentprovisionforotherinvestmentsindebtobligationsduringthecurrentperiod
Unit:RMB
| Item | Beginningbalance | Increaseforthecurrentperiod | Decreaseforthecurrentperiod | Endingbalance |
(2)SignificantOtherInvestmentsinDebtObligationsatthePeriod-end
Unit:RMB
| Item | Endingbalance | Beginningbalance | ||||||||
| Parvalue | Couponrate | Actualinterestrate | Maturitydate | Overdueprincipal | Parvalue | Couponrate | Actualinterestrate | Maturitydate | Overdueprincipal | |
(3)Statusofaccrueddepreciationreserves
Unit:RMB
| Baddebtprovision | Firststage | Secondstage | Thirdstage | Total |
| Expectedcreditlossinthenext12months | Expectedlossintheduration(creditimpairmentnotoccurred) | Expectedlossintheduration(creditimpairmentoccurred) | ||
| Balanceof1January2023inthecurrentperiod |
Thebasisforthedivisionofeachstageandthewithdrawalproportionofbaddebtprovision
(4)StatusofOtherInvestmentsinDebtObligationsWritten-offinCurrentPeriod
Unit:RMB
| Item | Written-offamount |
OfwhichtheverificationofsignificantotherinvestmentsindebtobligationsNotestoverificationofotherinvestmentsindebtobligations:
Changesofcarryingamountwithsignificantamountchangedoflossprovisioninthecurrentperiod
□Applicable?Notapplicable
Othernotes:
15.OtherEquityInstrumentInvestment
Unit:RMB
| Projectname | Endingbalance | Beginningbalance | Gainsrecordedinothercomprehensiveincomeinthecurrentperiod | Lossesrecordedinothercomprehensiveincomeinthecurrentperiod | Accumulativegainsrecordedinothercomprehensiveincomeinthecurrentperiod | Accumulativelossesrecordedinothercomprehensiveincomeinthecurrentperiod | Dividendincomerecognizedincurrentyear | Reasonforassigningtomeasureinfairvalueofwhichchangesincludedothercomprehensiveincome |
| GintianIndustry(Group)Co.,Ltd. | 636,926.20 | 887,838.64 | 261,743.15 | 2,835,868.48 | Notforbusinesstransactionpurposes | |||
| Total | 636,926.20 | 887,838.64 | 261,743.15 | 2,835,868.48 |
Thereisderecognitioninthecurrentperiod
Unit:RMB
| Projectname | Accumulativegainstransferredinretainedearnings | Accumulativelossestransferredinretainedearnings | Reasonforderecognition |
Non-tradingequityinstrumentinvestmentintheCurrentPerioddisclosedbyitems
Unit:RMB
| Projectname | Dividendincomerecognized | Accumulativegains | Accumulativelosses | Amountofothercomprehensiveincometransferredtoretainedearnings | Reasonforassigningtomeasureinfairvalueofwhichchangesincludedothercomprehensiveincome | Reasonforothercomprehensiveincometransferredtoretainedearnings |
| GintianIndustry(Group)Co.,Ltd. | 2,953,430.11 | Notforbusinesstransactionpurposes |
Othernotes:
16.Long-termReceivables
(1)ListofLong-termReceivables
Unit:RMB
| Item | Endingbalance | Beginningbalance | Intervalofdiscountrate | ||||
| Carryingamount | Baddebtprovision | Carryingvalue | Carryingamount | Baddebtprovision | Carryingvalue | ||
| Financingleaseaccounts | 22,651,454.07 | 22,651,454.07 | |||||
| Ofwhich:unrealizedfinancingincome | 13,169,492.65 | 13,169,492.65 | |||||
| Total | 22,651,454.07 | 22,651,454.07 | |||||
(2)DisclosurebyWithdrawalMethodsforBadDebts
Unit:RMB
| Category | Endingbalance | Beginningbalance | ||||||||
| Carryingamount | Baddebtprovision | Carryingvalue | Carryingamount | Baddebtprovision | Carryingvalue | |||||
| Amount | Proportion | Amount | Withdrawalproportion | Amount | Proportion | Amount | Withdrawalproportion | |||
| Ofwhich: | ||||||||||
| Ofwhich: | ||||||||||
Withdrawalofbaddebtprovisionbyadoptingthegeneralmodeofexpectedcreditloss
Unit:RMB
| Baddebtprovision | Firststage | Secondstage | Thirdstage | Total |
| Expectedcreditlossinthenext12months | Expectedlossintheduration(creditimpairmentnotoccurred) | Expectedlossintheduration(creditimpairmentoccurred) | ||
| Balanceof1January2023inthecurrentperiod |
Thebasisforthedivisionofeachstageandthewithdrawalproportionofbaddebtprovision
(3)BadDebtProvisionWithdrawal,ReversedorRecoveredintheCurrentPeriod
Unit:RMB
| Category | Beginningbalance | Changesinthecurrentperiod | Endingbalance | |||
| Withdrawal | Reversedorrecovered | Charged-off/Written-off | Others | |||
Ofwhichthebaddebtprovisionrecoveredortransferred-backwithsignificantamountduringthecurrentperiod:
Unit:RMB
| Nameoftheentity | Amountreversedorrecovered | Reasonforreversal | Wayofrecovery | Basisandrationalityofdeterminingtheoriginalwithdrawalproportionofbaddebtprovision |
Othernotes:
(4)StatusofLong-termReceivablesWritten-offinCurrentPeriod
Unit:RMB
| Item | Written-offamount |
Ofwhichtheverificationofsignificantlong-termreceivables:
Unit:RMB
| Nameoftheentity | Nature | Written-offamount | Reasonforverification | Verificationproceduresperformed | Whetheroccurredbecauseofrelated-partytransactions |
Notestotheverificationoflong-termreceivables:
17.Long-termEquityInvestment
Unit:RMB
| Investee | Beginningbalance(carryingvalue) | Beginningbalanceofdepreciationreserve | Increase/decreaseforthecurrentperiod | Endingbalance(Carryingvalue) | Endingbalanceofdepreciationreserve | |||||||
| Additionalinvestment | Reducedinvestment | Gainsandlossesrecognized | Adjustmentofothercomprehensive | Changesofotherequity | Cashbonusorprofitsannounced | Withdrawalofimpairment | Others | |||||
| undertheequitymethod | income | toissue | provision | |||||||
| I.Jointventures | ||||||||||
| ShenzhenRealEstateJifaWarehousingCo.,Ltd. | 44,730,585.29 | 3,335,233.21 | 48,065,818.50 | |||||||
| Tian’anInternationalBuildingPropertyManagementCompanyofShenzhen | 7,037,952.31 | 12,985.03 | 7,050,937.34 | |||||||
| Subtotal | 51,768,537.60 | 3,348,218.24 | 55,116,755.84 | |||||||
| II.Associatedenterprises | ||||||||||
| ShenzhenWufangCeramicsIndustrialCo.,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 | |||||||
| ShenzhenFulongIndustryDevelopmentCo.,Ltd. | 1,684,350.00 | 1,684,350.00 | 1,684,350.00 | |||||||
| 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,ShenzhenCity | 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 | |||||||
| JiakaifengCo.,Ltd.Bao’anCompany | 600,000.00 | 600,000.00 | 600,000.00 | |||||||
| 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 | |||||||
| CSCECIntelligentParkingTechnologyCo.,Ltd. | 28,012,899.71 | 991,215.00 | 63,120.00 | 28,940,994.71 | ||||||
| Subtotal | 59,767,296.93 | 991,215.00 | 63,120.00 | 60,695,391.93 | 31,754,397.22 | |||||
| Total | 111,535,834.53 | 4,339,433.24 | 63,120.00 | 115,812,147.77 | 31,754,397.22 | |||||
Therecoverableamountisdeterminedbasedonthenetamountofthefairvalueminusdisposalcosts
□Applicable?NotapplicableTherecoverableamountisdeterminedbythepresentvalueoftheforecastedfuturecashflow.
□Applicable?NotapplicableThereasonforthediscrepancybetweentheforegoinginformationandtheinformationusedintheimpairmenttestsinprioryearsorexternalinformationThereasonforthediscrepancybetweentheinformationusedintheCompany'simpairmenttestsinprioryearsandtheactualsituationofthoseyearsOthernotes:
18.OtherNon-currentFinancialAssets
Unit:RMB
| Item | Endingbalance | Beginningbalance |
Othernotes:
19.InvestmentProperty
(1)InvestmentPropertyAdoptingtheCostMeasurementMode?Applicable□Notapplicable
Unit:RMB
| Item | Housesandbuildings | Landuseright | Constructioninprogress | Total |
| I.Originalcarryingvalue | ||||
| 1.Beginningbalance | 861,702,509.37 | 14,495,902.20 | 37,192,716.83 | 913,391,128.40 |
| 2.Increasedamountforthecurrentperiod | 20,538,975.46 | 20,538,975.46 | ||
| (1)Outsourcing | ||||
| (2)Transferfrominventory/fixedassets/constructioninprogress | 20,538,975.46 | 20,538,975.46 | ||
| (3)Businesscombinationincrease |
3.Decreasedamountforthecurrentperiod
| 3.Decreasedamountforthecurrentperiod | -178,092.04 | -178,092.04 | ||
| (1)Disposal | ||||
| (2)Othertransfer | ||||
| (3)Exchangeadjustment | -178,092.04 | -178,092.04 | ||
| 4.Endingbalance | 882,419,576.87 | 14,495,902.20 | 37,192,716.83 | 934,108,195.90 |
| II.Accumulativedepreciationandaccumulativeamortization | ||||
| 1.Beginningbalance | 472,271,039.79 | 13,360,585.89 | 21,996,763.54 | 507,628,389.22 |
| 2.Increasedamountforthecurrentperiod | 30,494,065.85 | 952,969.32 | 8,052,783.60 | 39,499,818.77 |
| (1)Withdrawaloramortization | 27,649,799.76 | 952,969.32 | 8,052,783.60 | 36,655,552.68 |
| (2)Others | 2,844,266.09 | 2,844,266.09 | ||
| 3.Decreasedamountforthecurrentperiod | -169,187.44 | -169,187.44 | ||
| (1)Disposal | ||||
| (2)Othertransfer | ||||
| (3)Exchangeadjustment | -169,187.44 | -169,187.44 | ||
| 4.Endingbalance | 502,934,293.08 | 14,313,555.21 | 30,049,547.14 | 547,297,395.43 |
| III.Depreciationreserves | ||||
| 1.Beginningbalance | ||||
| 2.Increasedamountforthecurrentperiod | ||||
| (1)Withdrawal |
3.Decreasedamountforthecurrentperiod
| 3.Decreasedamountforthecurrentperiod |
| (1)Disposal |
| (2)Othertransfer |
4.Endingbalance
| 4.Endingbalance | ||||
| IV.Carryingvalue | ||||
| 1.Endingcarryingvalue | 379,485,283.79 | 182,346.99 | 7,143,169.69 | 386,810,800.47 |
| 2.Beginningcarryingvalue | 389,431,469.58 | 1,135,316.31 | 15,195,953.29 | 405,762,739.18 |
Therecoverableamountisdeterminedbasedonthenetamountofthefairvalueminusdisposalcosts
□Applicable?NotapplicableTherecoverableamountisdeterminedbythepresentvalueoftheforecastedfuturecashflow.
□Applicable?NotapplicableThereasonforthediscrepancybetweentheforegoinginformationandtheinformationusedintheimpairmenttestsinprioryearsorexternalinformationThereasonforthediscrepancybetweentheinformationusedintheCompany'simpairmenttestsinprioryearsandtheactualsituationofthoseyearsOthernotes:
(2)InvestmentPropertyAdoptingtheFairValueMeasurementMode
□Applicable?Notapplicable
(3)ProjectsConvertedtoInvestmentPropertiesandMeasuredatFairValue
Unit:RMB
| Item | Accountingitem | Amount | Reasonfor | Approval | Impactongain | Impactonother |
| beforeconversion | conversion | procedures | andloss | comprehensiveincome |
(4)InvestmentPropertyFailedtoAccomplishCertificationofProperty
Unit:RMB
| Item | Carryingvalue | Reason |
| 507Unit,BlockNo.6,Maguling | 22,679.21 | Thehouseisusedforpropertymanagement,onceoccupiedbythethirdparty,apropertymanagementcompany,nowhasbeenrecovered,buthasn’thandledthewarrantyet. |
| Meilinland[Note1] | Obtainedafterthesuccessinthelastinstancein2017,relevantcertificationsofpropertyareintheprocedure | |
| Total | 22,679.21 |
Othernotes:
Note:Asat31December2023,theoriginalcarryingvalueofMeilinlandwasRMB3,885,469.40,theaccumulatedaccrueddepreciationwasRMB3,885,469.40,andthecarryingvaluewasRMB0.
20.FixedAssets
Unit:RMB
| Item | Endingbalance | Beginningbalance |
| Fixedassets | 66,436,408.90 | 82,745,172.12 |
| Liquidationoffixedassets | ||
| Total | 66,436,408.90 | 82,745,172.12 |
(1)ListofFixedAssets
Unit:RMB
| Item | Total | |||||
| I.Originalcarryingvalue: | ||||||
| 1.Beginningbalance | 129,859,285.29 | 6,457,738.92 | 19,461,561.97 | 37,715,645.88 | 57,075,135.08 | 250,569,367.14 |
| 2.Increasedamountforthecurrentperiod | 6,600.00 | 631,228.99 | 22,350.00 | 4,534,125.03 | 5,194,304.02 | |
| (1)Purchase | 6,600.00 | 631,228.99 | 22,350.00 | 4,534,125.03 | 5,194,304.02 | |
| (2)Transferfromconstructioninprogress | ||||||
| (3)Businesscombinationincrease |
3.Decreasedamountforthecurrentperiod
| 3.Decreasedamountforthecurrentperiod | 5,432,051.73 | 155,270.00 | 741,446.82 | 3,143,412.94 | 9,472,181.49 | |
| (1)Disposalorscrap | 155,270.00 | 741,446.82 | 3,143,412.94 | 4,040,129.76 | ||
| (2)Exchangeadjustment | -82,418.03 | -82,418.03 | ||||
| Others | 5,514,469.76 | 5,514,469.76 | ||||
| 4.Endingbalance | 124,427,233.56 | 6,309,068.92 | 19,351,344.14 | 37,737,995.88 | 58,465,847.17 | 246,291,489.67 |
| II.Accumulativedepreciation | ||||||
| 1.Beginningbalance | 95,882,680.45 | 2,648,956.94 | 13,790,571.17 | 18,649,255.82 | 36,777,013.48 | 167,748,477.86 |
| 2.Increasedamountforthecurrentperiod | 2,091,157.50 | 479,295.76 | 1,641,080.73 | 7,481,877.56 | 6,932,155.58 | 18,625,567.13 |
| (1)Withdrawal | 2,091,157.50 | 479,295.76 | 1,641,080.73 | 7,481,877.56 | 6,932,155.58 | 18,625,567.13 |
3.Decreasedamountforthecurrentperiod
| 3.Decreasedamountforthecurrentperiod | 2,768,468.99 | 154,765.10 | 680,236.38 | 2,991,210.91 | 6,594,681.38 | |
| (1)Disposalorscrap | 154,765.10 | 680,236.38 | 2,991,210.91 | 3,826,212.39 | ||
| (2)Exchangeadjustment | -75,797.10 | -75,797.10 | ||||
| Others | 2,844,266.09 | 2,844,266.09 | ||||
| 4.Endingbalance | 95,205,368.96 | 2,973,487.60 | 14,751,415.52 | 26,131,133.38 | 40,717,958.15 | 179,779,363.61 |
| III.Depreciationreserves | ||||||
| 1.Beginningbalance | ||||||
| 2.Increasedamountforthecurrentperiod | ||||||
| (1)Withdrawal |
3.Decreasedamountforthecurrentperiod
| 3.Decreasedamountforthecurrentperiod |
| (1)Disposalorscrap |
4.Endingbalance
| 4.Endingbalance | ||||||
| IV.Carryingvalue | ||||||
| 1.Endingcarryingvalue | 29,221,864.60 | 3,335,581.32 | 4,599,928.62 | 11,606,862.50 | 17,672,171.86 | 66,436,408.90 |
| 2.Beginningcarryingvalue | 33,976,604.84 | 3,808,781.98 | 5,670,990.80 | 19,066,390.06 | 20,222,404.44 | 82,745,172.12 |
(2)ListofTemporarilyIdleFixedAssets
Unit:RMB
| Item | Originalcarryingvalue | Accumulateddepreciation | Impairmentprovision | Carryingvalue | Notes |
(3)FixedAssetsLeasedoutbyOperationLease
Unit:RMB
| Item | Endingcarryingamount |
(4)FixedAssetsFailedtoAccomplishCertificationofProperty
Unit:RMB
| Item | Carryingvalue | Reason |
| Room406,2units,HulunbuirGuangxiaDigitalBuilding | 2,191,229.86 | Propertyrightsdisputesbefore,nowhavewonalawsuitwithcertificationofthepropertybeingprocessed. |
| Room401,402,SanxiangBusinessBuildingOfficeBuilding | 575,652.74 | Theofficebuildingwillberemovedduetotheprojectadjustmentandahigh-riseofficebuildingwillbeestablishednearbythepresentaddress.Theexistingpropertyshallbereplacedafterthecompletionofthenewofficebuilding.Thus,thecertificationofthepropertyisfailedtotransact. |
| Total | 2,766,882.60 |
Othernotes:
(5)ImpairmentTestofFixedAssets
□Applicable?Notapplicable
(6)ProceedsfromDisposalofFixedAssets
Unit:RMB
| Item | Endingbalance | Beginningbalance |
Othernotes:
21.ConstructioninProgress
Unit:RMB
| Item | Endingbalance | Beginningbalance |
(1)ListofConstructioninProgress
Unit:RMB
| Item | Endingbalance | Beginningbalance | ||||
| Carryingamount | Impairmentprovision | Carryingvalue | Carryingamount | Impairmentprovision | Carryingvalue | |
(2)ChangesinSignificantConstructioninProgressduringtheCurrentPeriod
Unit:RMB
| Projectname | Budget | Beginningbalance | Increasedamountofthecurrentperiod | Transferredinfixedassets | Otherdecreasedamountforthecurrentperiod | Endingbalance | Proportionofaccumulatedinvestmentinconstructionstobudget | Jobschedule | Accumulatedamountofinterestcapitalization | Ofwhich:amountofcapitalizedinterestsforthecurrentperiod | Capitalizationrateofinterestsforthecurrentperiod | Capitalresources |
(3)ListoftheWithdrawaloftheDepreciationReservesforConstructioninProgress
Unit:RMB
| Item | Beginningbalance | Increaseforthecurrentperiod | Decreaseforthecurrentperiod | Endingbalance | Reasonforwithdrawal |
Othernotes:
(4)ImpairmentTestofConstructioninProgress
□Applicable?Notapplicable
(5)EngineeringMaterials
Unit:RMB
| Item | Endingbalance | Beginningbalance | ||||
| Carryingamount | Impairmentprovision | Carryingvalue | Carryingamount | Impairmentprovision | Carryingvalue | |
Othernotes:
22.Right-of-useAssets
(1)ListofRight-of-useAssets
Unit:RMB
| Item | Total | |
| I.Originalcarryingvalue | ||
| 1.Beginningbalance | 96,978,273.81 | 96,978,273.81 |
| 2.Increasedamountforthecurrentperiod | 34,372,695.47 | 34,372,695.47 |
| (1)NewLeases | 34,372,695.47 | 34,372,695.47 |
| 3.Decreasedamountforthecurrentperiod | 75,290,063.42 | 75,290,063.42 |
| (1)TerminatedLeases | 75,290,063.42 | 75,290,063.42 |
| 4.Endingbalance | 56,060,905.86 | 56,060,905.86 |
| II.Accumulativedepreciation | ||
| 1.Beginningbalance | 26,809,858.16 | 26,809,858.16 |
| 2.Increasedamountforthecurrentperiod | 18,139,758.01 | 18,139,758.01 |
| (1)Withdrawal | 18,139,758.01 | 18,139,758.01 |
3.Decreasedamountforthecurrentperiod
| 3.Decreasedamountforthecurrentperiod | 12,405,506.53 | 12,405,506.53 |
| (1)Disposal | ||
| (2)TerminatedLeases | 12,405,506.53 | 12,405,506.53 |
| 4.Endingbalance | 32,544,109.64 | 32,544,109.64 |
| III.Depreciationreserves | ||
| 1.Beginningbalance | ||
| 2.Increasedamountforthecurrentperiod | ||
| (1)Withdrawal |
3.Decreasedamountforthecurrentperiod
| 3.Decreasedamountforthecurrentperiod |
| (1)Disposal |
4.Endingbalance
| 4.Endingbalance | ||
| IV.Carryingvalue | ||
| 1.Endingcarryingvalue | 23,516,796.22 | 23,516,796.22 |
| 2.Beginningcarryingvalue | 70,168,415.65 | 70,168,415.65 |
(2)ImpairmentTestofRight-of-useAssets
?Applicable□NotapplicableTherecoverableamountisdeterminedbasedonthenetamountofthefairvalueminusdisposalcosts
□Applicable?NotapplicableTherecoverableamountisdeterminedbythepresentvalueoftheforecastedfuturecashflow.
□Applicable?NotapplicableThereasonforthediscrepancybetweentheforegoinginformationandtheinformationusedintheimpairmenttestsinprioryearsorexternalinformationThereasonforthediscrepancybetweentheinformationusedintheCompany'simpairmenttestsinprioryearsandtheactual
situationofthoseyearsOthernotes:
23.IntangibleAssets
(1)ListofIntangibleAssets
Unit:RMB
| Item | Landuseright | Patentright | Non-patenttechnologies | Softwareuserights | Total |
| I.Originalcarryingvalue | |||||
| 1.Beginningbalance | 3,060,312.13 | 3,060,312.13 | |||
| 2.Increasedamountforthecurrentperiod | |||||
| (1)Purchase | |||||
| (2)InternalR&D | |||||
| (3)Businesscombinationincrease |
3.Decreasedamountforthecurrentperiod
| 3.Decreasedamountforthecurrentperiod |
| (1)Disposal |
4.Endingbalance
| 4.Endingbalance | 3,060,312.13 | 3,060,312.13 | |
| II.Accumulatedamortization | |||
| 1.Beginningbalance | 1,790,929.22 | 1,790,929.22 | |
| 2.Increasedamountforthecurrentperiod | 379,581.77 | 379,581.77 | |
| (1)Withdrawal | 379,581.77 | 379,581.77 |
3.Decreasedamountforthecurrentperiod
| 3.Decreasedamountforthecurrentperiod |
| (1)Disposal |
4.Endingbalance
| 4.Endingbalance | 2,170,510.99 | 2,170,510.99 | |
| III.Depreciationreserves | |||
| 1.Beginningbalance | |||
| 2.Increasedamountforthecurrentperiod | |||
| (1)Withdrawal |
3.Decreasedamountforthecurrentperiod
| 3.Decreasedamountforthecurrentperiod |
| (1)Disposal |
| 4.Endingbalance | |||
| IV.Carryingvalue | |||
| 1.Endingcarryingvalue | 889,801.14 | 889,801.14 | |
| 2.Beginningcarryingvalue | 1,269,382.91 | 1,269,382.91 |
TheproportionofintangibleassetsformedfromtheinternalR&DoftheCompanyatthePeriod-endtotheendingbalanceofintangibleassets
(2)LandUseRightFailedtoAccomplishCertificationofProperty
Unit:RMB
| Item | Carryingvalue | Reason |
Othernotes:
(3)ImpairmentTestofIntangibleAssets
□Applicable?Notapplicable
24.Goodwill
(1)OriginalCarryingValueofGoodwill
Unit:RMB
| Nameoftheinvestedunitsoreventsgeneratinggoodwill | Beginningbalance | Increaseforthecurrentperiod | Decreaseforthecurrentperiod | Endingbalance | ||
| Formedbybusinesscombination | Disposal | |||||
| ShenzhenFacilityManagementCommunityTechnologyCo.,Ltd. | 9,446,847.38 | 9,446,847.38 | ||||
| Total | 9,446,847.38 | 9,446,847.38 | ||||
(2)DepreciationReservesofGoodwill
Unit:RMB
| Nameoftheinvestedunitsoreventsgeneratinggoodwill | Beginningbalance | Increaseforthecurrentperiod | Decreaseforthecurrentperiod | Endingbalance | ||
| Withdrawal | Disposal | |||||
Total
(3)InformationontheAssetsGroupsorCombinationofAssetsGroupswhichGoodwillBelongsto
Total
Name
| Name | Compositionandbasisoftheassetgrouporcombinationofassetgroupstowhichitbelongs | Operatingsegmenttowhichitbelongsandbasis | Whetheritisconsistentwiththatoftheprioryears |
| ShenzhenFacilityManagementCommunityTechnologyCo.,Ltd. | Groupsorcombinationsofgroupsofassetsthatarecapableofgeneratingcashflowsindependently,takingintoaccounttheabilitytobenefitfromthesynergiesofthebusinesscombinationandthewayinwhichmanagement | Propertymanagement,supportingservices | Yes |
Changesintheassetsgrouporcombinationofassetsgroups
managesormonitorstheproductionandoperatingactivities.
Name
| Name | Compositionbeforethechange | Compositionafterthechange | Objectivefactsleadingtothechangeandtheirbasis |
Othernotes:
(4)SpecificMethodofDeterminingtheRecoverableAmountTherecoverableamountisdeterminedbasedonthenetamountofthefairvalueminusdisposalcosts
□Applicable?NotapplicableTherecoverableamountisdeterminedbythepresentvalueoftheforecastedfuturecashflow.?Applicable□Notapplicable
Unit:RMB
| Item | Carryingvalue | Recoverableamount | Impairmentamount | Numberofyearsoftheforecastperiod | Keyparametersoftheforecastperiod | Keyparametersofthestableperiod | Basisofdeterminingthekeyparametersofthestableperiod |
| ShenzhenFacilityManagementCommunityTechnologyCo.,Ltd. | 61,791,091.57 | 62,756,889.73 | 5 | Revenuegrowthrateof1%-8%,discountrateof12.53% | Nogrowth | Determinedbasedonprudence | |
| Total | 61,791,091.57 | 62,756,889.73 |
ThereasonforthediscrepancybetweentheforegoinginformationandtheinformationusedintheimpairmenttestsinprioryearsorexternalinformationThereasonforthediscrepancybetweentheinformationusedintheCompany'simpairmenttestsinprioryearsandtheactualsituationofthoseyears
(5)CompletionofCommitmentstoResultsandCorrespondingGoodwillImpairment
Whengoodwillisformed,thereisacommitmenttotheresultsandthereportingperiodortheperiodprecedingthereportingperiodiswithinthecommitmentperiod?Applicable□Notapplicable
Unit:RMB
| Item | Completionofthecommitmenttoresults | Amountofgoodwillimpairment | ||||||
| Currentperiod | Previousperiod | Currentperiod | Previousperiod | |||||
| Committedresults | Actualresults | Completionrate | Committedresults | Actualresults | Completionrate | |||
Othernotes:
InMay2021,ShenzhenWuheIndustryInvestmentDevelopmentCo.,Ltd.(hereinafterreferredtoas“WuheCompany”),asubsidiaryoftheCompany,acquired35%oftheequityofShenzhenFacilityManagementCommunityTechnologyCo.,Ltd.(hereinafterreferredtoas“FMC”)throughacquisitionofequityanddirectionalcapitalincrease.Pursuanttotheequityacquisition
cooperationframeworkagreemententeredintobetweenWuheCompanyandtheoriginalshareholders,FMCanditsoriginalshareholdersundertookthattheFMC'soperatingrevenuegrowthratioornetprofitfortheyearsfrom2021to2023wouldreachthetargetvalueagreeduponintheagreement,andthatWuheCompanywouldconductanassessmentofitsoperatingperformanceforaperiodofthreeyears.AsattheReportingDate,theperformanceassessmenthasnotyetbeencompleted,andthereforeitisnotpossibletoassessitsfulfillmentforthetimebeing.Basedontheresultsofthegoodwillimpairmenttest,therecoverableamountishigherthanitscarryingamountandnoprovisionforgoodwillimpairmentisrequired.
25.Long-termPrepaidExpense
Unit:RMB
| Item | Beginningbalance | Increasedamountofthecurrentperiod | Amortizationamountofthecurrentperiod | Otherdecreasedamount | Endingbalance |
| Decorationfee | 21,980,602.46 | 7,834,029.87 | 7,726,470.46 | 577,763.99 | 21,510,397.88 |
| Total | 21,980,602.46 | 7,834,029.87 | 7,726,470.46 | 577,763.99 | 21,510,397.88 |
Othernotes:
26.DeferredIncomeTaxAssets/DeferredIncomeTaxLiabilities
(1)DeferredIncomeTaxAssetsHadNotBeenOff-set
Unit:RMB
| Item | Endingbalance | Beginningbalance | ||
| Deductibletemporarydifferences | Deferredincometaxassets | Deductibletemporarydifferences | Deferredincometaxassets | |
| Provisionforimpairmentofassets | 95,315,243.86 | 21,090,356.76 | 72,321,489.09 | 15,066,804.41 |
| Internalunrealizedprofit | 437,266,319.66 | 109,316,579.92 | 439,263,809.16 | 109,815,952.29 |
| Deductiblelosses | 607,016,948.61 | 151,737,271.44 | 1,159,867,308.26 | 288,683,459.58 |
| AccruedlandVAT | 3,911,198,870.69 | 977,799,717.67 | 3,838,271,429.24 | 959,567,857.31 |
| Estimatedprofitcalculatedatpre-salerevenueofpropertyenterprises | 32,620,985.74 | 8,155,246.44 | 35,766,814.24 | 8,941,703.56 |
| Otheraccruedexpenses | 7,694,020.20 | 1,923,505.05 | 4,512,525.55 | 974,808.89 |
| LeaseLiabilities | 26,502,156.29 | 6,417,709.55 | 100,176,641.92 | 24,500,761.16 |
| Total | 5,117,614,545.05 | 1,276,440,386.83 | 5,650,180,017.46 | 1,407,551,347.20 |
(2)DeferredIncomeTaxLiabilitiesHadNotBeenOff-set
Unit:RMB
| Item | Endingbalance | Beginningbalance | ||
| Taxabletemporarydifference | Deferredincometaxliabilities | Taxabletemporarydifference | Deferredincometaxliabilities | |
| Thecarryingvalueoffixedassetswaslargerthanthetaxbasis | 704,413.18 | 176,103.29 | 967,914.16 | 241,978.54 |
| Right-of-useAssets | 23,516,796.22 | 5,686,176.41 | 70,168,415.65 | 22,737,325.56 |
| Total | 24,221,209.40 | 5,862,279.70 | 71,136,329.81 | 22,979,304.10 |
(3)DeferredIncomeTaxAssetsorLiabilitiesHadBeenOff-setListedinNetAmount
Unit:RMB
| Item | Endingoff-setamountofdeferredincometaxassetsandliabilities | Endingbalanceofdeferredincometaxassetsandliabilities | Beginningoff-setamountofdeferredincometaxassetsandliabilities | Beginningbalanceofdeferredincometaxassetsandliabilities |
| Deferredincometaxassets | 1,276,440,386.83 | 1,407,551,347.20 | ||
| Deferredincometaxliabilities | 5,862,279.70 | 22,979,304.10 |
(4)ListofUnrecognizedDeferredIncomeTaxAssets
Unit:RMB
| Item | Endingbalance | Beginningbalance |
| Deductibletemporarydifferences | 261,260,204.35 | 52,448,071.36 |
| Deductiblelosses | 254,378,951.24 | 508,734,563.66 |
| Total | 515,639,155.59 | 561,182,635.02 |
(5)DeductibleLossesofUnrecognizedDeferredIncomeTaxAssetswillDueintheFollowingYears
Unit:RMB
| Year | Endingamount | Beginningamount | Notes |
| 2023 | 265,603,820.64 | ||
| 2024 | 124,895,242.05 | 124,895,242.05 | |
| 2025 | 22,711,013.85 | 22,711,013.85 | |
| 2026 | 14,238,807.00 | 14,238,807.00 | |
| 2027 | 81,285,680.12 | 81,285,680.12 | |
| 2028 | 11,248,208.22 | ||
| Total | 254,378,951.24 | 508,734,563.66 |
Othernotes:
27.OtherNon-currentAssets
Unit:RMB
| Item | Endingbalance | Beginningbalance | ||||
| Carryingamount | Impairmentprovision | Carryingvalue | Carryingamount | Impairmentprovision | Carryingvalue | |
| Prepaymentforpurchaseoffixedassets,investmentpropertiesandintangibleassets | 870,062.16 | 870,062.16 | 115,779.31 | 115,779.31 | ||
| Others[note1] | 2,635,093.77 | 2,635,093.77 | 2,635,093.77 | 2,635,093.77 | ||
| Total | 3,505,155.93 | 3,505,155.93 | 2,750,873.08 | 2,750,873.08 | ||
Othernotes:
Note1:Theamountismainlytheregisteredassetofinvestmentproperty,astheassetsrelatetothesubsequentpendingtransferofrelocatedpropertiesfortheshantytownrenovationofChuanbujie,andthetermexceedsoneyear.
28.AssetswithRestrictedOwnershiporRightofUse
Unit:RMB
| Item | Period-end | Period-beginning | ||||||
| Carryingamount | Carryingvalue | Typeofrestriction | Statusofrestriction | Carryingamount | Carryingvalue | Typeofrestriction | Statusofrestriction | |
| Monetarycapital | 15,659,341.60 | 15,659,341.60 | Frozen | Note1-Note10 | 7,835,036.35 | 7,835,036.35 | Frozen | Margin,securitydeposit,interestontimedeposit,andjudiciallyfrozenfunds |
| LanduserightofFuminNewVillage,FutianDistrict | 542,507,314.43 | 542,507,314.43 | Mortgaged | |||||
| Total | 15,659,341.60 | 15,659,341.60 | 550,342,350.78 | 550,342,350.78 | ||||
Othernotes:
[Note1]:Intermsofmonetaryassetswithrestrictedrighttouseattheperiod-end,therewasRMB2,200,000.00asthebanker'sletterofmarginforShenzhenShenfubaoPropertyDevelopmentCo.,Ltd.,asubsidiaryoftheCompany.[Note2]:Intermsofmonetaryassetswithrestrictedrighttouseattheperiod-end,therewasRMB3,342,374.71inthesubsidiarycompanyShenzhenFacilityManagementCommunityTechnologyCo.,Ltd.blockedbythecourtduetopre-litigationpreservationforcontractdisputes.[Note3]:Intermsofmonetaryassetswithrestrictedrighttouseattheperiod-end,therewasaloandepositofRMB1,133,604.61providedasmortgageloanguaranteesforcommercialhousingpurchasersandpaidbytheCompanyasarealestatedeveloperaccordingtorealestatebusinesspractices.[Note4]:Intermsofmonetaryassetswithrestrictedrighttouseattheperiod-end,therewasRMB8,644,166.67ofinterestonunexpiredtermdepositsaccruedattheperiod-end.[Note5]:Intermsofmonetaryassetswithrestrictedrighttouseattheperiod-end,therewasRMB90,000.00ofblockedfundinadisputeoverahousepurchaseandsalescontractforShenzhenPropertyGroupXuzhouDapengRealEstateDevelopmentCo.,Ltd.,asubsidiaryoftheCompany.[Note6]:Intermsofmonetaryassetswithrestrictedrighttouseattheperiod-end,therewasRMB129,021.18intheaccountofthesubsidiarycompanyShenzhenPropertyEngineeringandConstructionSupervisionCo.,Ltd.Theaccountwasinareceiving-onlystatusbecausethelegalpersonchangeformalitieshadnotbeencompletedbytheperiod-end.[Note7]:Intermsofmonetaryassetswithrestrictedrighttouseattheperiod-end,therewasRMB99,103.58intheaccountofthesubsidiarycompanyShenzhenYufaIndustrialCo.,Ltd.ItsbankaccountwasfrozenbecauseitsretainedshareholderinformationisinconsistentwiththeshareholderinformationretainedduringbusinessregistrationintheStateAdministrationforMarketRegulation.[Note8]:Intermsofmonetaryassetswithrestrictedrighttouseattheperiod-end,therewasadepositforPOSofRMB1,500.00intheShandongShenguomaoRealEstateManagementCo.,Ltd.[Note9]:Intermsofmonetaryassetswithrestrictedrighttouseattheperiod-end,therewasadepositforPOSofRMB1,000.00intheShenzhenShenfubaoPropertyDevelopmentCo.,Ltd,asubsidiaryoftheCompany[Note10]:Intermsofmonetaryassetswithrestrictedrighttouseattheperiod-end,therewasRMB18,570.85ofblockedfundinalabourdisputesarbitrationcaseforShenzhenFreeTradeZoneSecurityServiceCo.,Ltd.,asubsidiaryoftheCompany.
29.Short-termBorrowings
(1)CategoryofShort-termBorrowings
Unit:RMB
| Item | Endingbalance | Beginningbalance |
| Creditloan | 230,915,000.00 | |
| Total | 230,915,000.00 |
Notesofthecategoryforshort-termloans:
Thecreditborrowings(1)attheperiod-endwereusedforthedailyoperationofShenzhenInternationalTradeCenterPropertyManagementCo.,Ltd.,asubsidiaryoftheCompany,withthedurationfrom28September2023to26March2024.Thecreditborrowings(2)attheperiod-endwereusedforthedailyoperationofShenzhenITCTechnologyParkServiceCo.,Ltd.,asubsidiaryoftheCompany,withthedurationfrom1December2023to29November2024.Thecreditborrowings(3)attheperiod-endwereusedforthedailyoperationofShenzhenInternationalTradeCenterPropertyManagementCo.,Ltd.,asubsidiaryoftheCompany,withthedurationfrom4December2023to4June2024.
(2)ListoftheShort-termBorrowingsOverduebutnotReturnedTheamountoftheoverdueunpaidshort-termborrowingsattheperiod-endwasRMBXXX,ofwhichthesignificantoverdueunpaidshort-termborrowingsareasfollows:
Unit:RMB
| Entity | Endingbalance | Interestrate | Overduetime | Overduechargerate |
Othernotes:
30.TradingFinancialLiabilities
Unit:RMB
| Item | Endingbalance | Beginningbalance |
| Ofwhich: | ||
| Ofwhich: |
Othernotes:
31.DerivativeFinancialLiabilities
Unit:RMB
| Item | Endingbalance | Beginningbalance |
Othernotes:
32.NotesPayable
Unit:RMB
| Category | Endingbalance | Beginningbalance |
ThetotalamountofnotespayablethatareduebutunpaidamountedtoRMBXXXattheendofthecurrentperiod.AndthereasonswhytheyareduebutnotpaidareXXX
33.AccountsPayable
(1)ListofAccountsPayable
Unit:RMB
| Item | Endingbalance | Beginningbalance |
| Engineeringconstructionexpensepayable | 540,851,975.20 | 484,123,042.01 |
| Estimatedpayables | 40,980,345.76 | 32,863,907.25 |
| Others | 81,036,738.63 | 91,296,439.26 |
| Total | 662,869,059.59 | 608,283,388.52 |
(2)SignificantAccountsPayableAgingoverOneYearorOverdue
Unit:RMB
| Item | Endingbalance | Unpaid/Un-carry-overreason |
| ShenzhenMunicipalBureauofPlanningandLand | 25,000,000.00 | Historicalproblems |
| ChinaConstructionFourthEngineeringDivisionCorp.,Ltd. | 12,017,672.93 | Unsettled |
| ShenzhenQianhaiAdvancedInformationServiceCo.,Ltd. | 8,126,060.00 | Unsettled |
| Total | 45,143,732.93 |
Othernotes:
34.OtherPayables
Unit:RMB
| Item | Endingbalance | Beginningbalance |
| Dividendspayable | 12,202,676.04 | 12,202,676.04 |
| Otherpayables | 1,205,100,618.21 | 1,502,883,156.41 |
| Total | 1,217,303,294.25 | 1,515,085,832.45 |
(1)InterestPayable
Unit:RMB
| Item | Endingbalance | Beginningbalance |
Listofthesignificantoverdueunpaidinterest:
Unit:RMB
| Entity | Overdueamount | Overduereason |
Othernotes:
(2)DividendsPayable
Unit:RMB
| Item | Endingbalance | Beginningbalance |
| Ordinarystockdividends | 12,202,676.04 | 12,202,676.04 |
| Total | 12,202,676.04 | 12,202,676.04 |
Othernotes:includingsignificantdividendspayableunpaidforoveroneyear,theunpaidreasonshallbedisclosed:
| Item | Amountunpaid | Reason |
| ShenzhenGreeningDepartment | 10,869,036.68 | Companyrestructuredwithoutclearingpaymentobject |
| LaborUnionofShenzhenGreeningDepartment | 1,300,000.00 | Companyrestructuredwithoutclearingpaymentobject |
| Others | 33,639.36 | Withoutaccesstoitsaccountandthefinalpaymentisunpaid |
| Total | 12,202,676.04 |
(3)OtherPayables
1)OtherPayablesListedbyNatureofAccount
Unit:RMB
| Item | Endingbalance | Beginningbalance |
| Securitydeposit | 290,979,176.07 | 316,108,932.91 |
| Margin | 11,806,030.93 | 13,585,641.99 |
| Collectiononbehalf | 4,832,329.12 | 3,596,458.33 |
| Intercoursefunds | 611,443,690.41 | 855,267,729.70 |
| Accruedexpenses | 200,129,074.12 | 224,646,116.70 |
| Paymentonbehalf | 17,030,579.72 | 19,052,869.33 |
| Others | 68,879,737.84 | 70,625,407.45 |
| Total | 1,205,100,618.21 | 1,502,883,156.41 |
2)SignificantOtherAccountsPayableAgingoverOneYearorOverdue
Unit:RMB
| Item | Endingbalance | Unpaid/Un-carry-overreason |
| YangzhouLvfaRealEstateCo.,Ltd. | 369,623,672.79 | Intercoursefundswithrelatedpartiesoutsidethecombination |
| ShenzhenBayTechnologyDevelopmentCo.,Ltd. | 143,003,641.12 | Unsettled |
| ShenzhenRealEstateJifaWarehousingCo.,Ltd. | 42,296,665.14 | Intercoursefundwithoutspecificpaymentterm |
| ShenzhenToutiaoTechnologyCo.,Ltd. | 12,340,689.03 | Leasetermnotexpired |
| ShenzhenQianhaiMicroPublicBankCo.,Ltd. | 6,698,953.04 | Leasetermnotexpired |
| Total | 573,963,621.12 |
3)Top5oftheEndingBalanceoftheOtherPayablesCollectedaccordingtotheCounterpartyOthernotes:
35.AdvancesfromCustomers
(1)ListofAdvancesfromCustomers
Unit:RMB
| Item | Endingbalance | Beginningbalance |
| Rental | 2,265,223.56 | 2,260,847.31 |
| Total | 2,265,223.56 | 2,260,847.31 |
(2)SignificantAdvancesfromCustomersAgingoverOneYearorOverdue
Unit:RMB
| Item | Endingbalance | Unpaid/Un-carry-overreason |
Unit:RMB
| Item | Changeinamount | Reason(s) |
36.ContractLiabilities
Unit:RMB
| Item | Endingbalance | Beginningbalance |
| Housepaymentinadvance | 747,372,309.30 | 857,317,217.99 |
| Propertyfeeinadvance | 30,554,843.87 | 15,740,950.87 |
| Otherpaymentsinadvance | 42,497,800.25 | 47,769,871.95 |
| Total | 820,424,953.42 | 920,828,040.81 |
Significantcontractliabilitiesagingoveroneyear
Unit:RMB
| Item | Endingbalance | Unpaid/Un-carry-overreason |
SignificantchangesintheamountofcarryingvalueandthereasonintheReportingPeriod
Unit:RMB
| Item | Changeinamount | Reason(s) |
37.PayrollPayable
(1)ListofPayrollPayable
Unit:RMB
| Item | Beginningbalance | Increaseforthecurrentperiod | Decreaseforthecurrentperiod | Endingbalance |
| I.Short-termsalary | 234,726,107.97 | 874,016,347.55 | 890,873,383.85 | 217,869,071.67 |
| II.Post-employmentbenefit-definedcontributionplans | 1,650,684.05 | 77,418,329.18 | 78,330,132.15 | 738,881.08 |
| III.Terminationbenefits | 2,749,600.00 | 280,143.53 | 2,851,584.50 | 178,159.03 |
| Total | 239,126,392.02 | 951,714,820.26 | 972,055,100.50 | 218,786,111.78 |
(2)ListofShort-termSalary
Unit:RMB
| Item | Beginningbalance | Increaseforthecurrentperiod | Decreaseforthecurrentperiod | Endingbalance |
| 1.Salary,bonus,allowance,subsidy | 216,273,079.86 | 762,337,469.94 | 775,409,080.68 | 203,201,469.12 |
| 2.Employeewelfare | 1,408,479.54 | 8,017,681.72 | 8,376,723.46 | 1,049,437.80 |
| 3.Socialinsurance | 71,070.35 | 29,533,078.01 | 29,587,983.54 | 16,164.82 |
| Ofwhich:Medicalinsurancepremiums | 60,059.54 | 26,315,323.45 | 26,361,499.22 | 13,883.77 |
| Work-relatedinjuryinsurancepremiums | 1,263.70 | 1,258,003.44 | 1,259,251.18 | 15.96 |
| Maternityinsurance | 2,154.62 | 1,959,751.12 | 1,959,640.65 | 2,265.09 |
| Othercommercialinsurances | 7,592.49 | 7,592.49 | ||
| 4.Housingfund | 1,279,643.31 | 28,547,576.64 | 28,661,368.07 | 1,165,851.88 |
| 5.Laborunionbudgetandemployeeeducationbudget | 11,352,966.60 | 16,509,911.48 | 19,370,797.18 | 8,492,080.90 |
| 8.Non-monetarybenefits | 4,340,868.31 | 29,070,629.76 | 29,467,430.92 | 3,944,067.15 |
| Total | 234,726,107.97 | 874,016,347.55 | 890,873,383.85 | 217,869,071.67 |
(3)ListofDefinedContributionPlans
Unit:RMB
| Item | Beginningbalance | Increaseforthecurrentperiod | Decreaseforthecurrentperiod | Endingbalance |
| 1.Basicpensioninsurance | 145,676.75 | 59,806,897.45 | 59,931,532.14 | 21,042.06 |
| 2.Unemploymentinsurancepremiums | 4,125.03 | 1,544,057.60 | 1,545,466.23 | 2,716.40 |
| 3.Supplementarypensionpayment | 1,500,882.27 | 16,067,374.13 | 16,853,133.78 | 715,122.62 |
| Total | 1,650,684.05 | 77,418,329.18 | 78,330,132.15 | 738,881.08 |
Othernotes:
38.TaxesPayable
Unit:RMB
| Item | Endingbalance | Beginningbalance |
| VAT | 17,768,402.21 | 15,392,042.91 |
| Enterpriseincometax | 91,035,828.65 | 57,096,046.69 |
| Personalincometax | 3,681,965.62 | 3,141,049.35 |
| Urbanmaintenanceandconstructiontax | 981,394.80 | 1,464,551.01 |
| Landappreciationtax | 3,911,198,870.69 | 3,838,271,429.24 |
| Landusetax | 180,900.74 | 153,626.98 |
| Propertytax | 539,730.69 | 600,966.66 |
| Educationalsurcharge | 644,625.80 | 707,668.15 |
| Localeducationalfee | 322,573.66 | 383,745.82 |
| Others | 603,055.08 | 67,220.00 |
| Total | 4,026,957,347.94 | 3,917,278,346.81 |
Othernotes:
39.Held-for-saleLiabilities
Unit:RMB
| Item | Endingbalance | Beginningbalance |
Othernotes:
40.CurrentPortionofNon-currentLiabilities
Unit:RMB
| Item | Endingbalance | Beginningbalance |
| Currentportionoflong-termborrowings | 3,075,993,789.05 | 196,645,408.45 |
| Currentportionoflong-termpayables | 400,000.00 | |
| Leaseobligationmaturedwithin1Year | 15,931,064.02 | 22,213,358.37 |
| Total | 3,092,324,853.07 | 218,858,766.82 |
Othernotes:
41.OtherCurrentLiabilities
Unit:RMB
| Item | Endingbalance | Beginningbalance |
| Taxtobechargedoff | 68,373,661.13 | 83,991,786.83 |
| Total | 68,373,661.13 | 83,991,786.83 |
Increase/decreaseoftheshort-termbondspayable:
Unit:RMB
| Name | Parvalue | Couponrate | Issuedate | Bondduration | Issueamount | Beginningbalance | Issuedinthecurrentperiod | Interestaccruedatparvalue | Amortizationofpremiumanddepreciation | Repaidinthecurrentperiod | Endingbalance | Defaultornot |
Total
Othernotes:
42.Long-termBorrowings
(1)CategoryofLong-termBorrowings
Unit:RMB
Total
Item
| Item | Endingbalance | Beginningbalance |
| Pledgedloans | 373,646,731.07 | 3,156,782,344.00 |
| Mortgageloans | 625,842,543.40 | |
| Creditloan | 400,400,000.00 | 462,000,000.00 |
| Total | 1,399,889,274.47 | 3,618,782,344.00 |
Notetothecategoryoflong-termborrowings:
Thepledgeborrowingsattheperiod-end(1)wereusedtoacquire100%offivepropertymanagemententerprises.TheyareShenzhenPropertyManagementCo.,Ltd.,ShenzhenForeignTradePropertyManagementCo.,Ltd.,ShenzhenShenfubaoPropertyDevelopmentCo.,Ltd.,ShenzhenShenfubaoHydropowerMunicipalServiceCo.,Ltd.andShenzhenFreeTradeZoneSecurityServiceCo.,Ltd.bytheCompany'ssubsidiaryShenzhenInternationalTradeCenterPropertyManagementCo.,Ltd.withthedurationfrom18May2022to26April2027.Andthe100%equityofthesefiveenterprisesheldbyShenzhenInternationalTradeCenterPropertyManagementCo.,Ltd.
Thepledgedloans(2)attheperiod-endwereusedtodeveloptheHumenSeaBayGardenprojectofDongguanWuheRealEstateCo.,Ltd.,asubsidiaryoftheCompany,withthedurationfrom30March2023to5August2027.AllaccountsreceivableofDongguanWuheRealEstateCo.,Ltd.innextfiveyearswaspledged.Themortgageloans(1)attheperiod-endwereusedtodeveloptheGuangmingYutangShangfuprojectofShenzhenGuangmingWuheRealEstateCo.,Ltd.,asubsidiaryoftheCompany,withthedurationfrom27July2023to24May2028.ThelanduserightofGuangmingYutangShangfuprojectheldbyShenzhenGuangmingWuheRealEstateCo.,Ltd.waspledged.Themortgageloans(2)attheperiod-endwereusedtodeveloptheHumenSeaBayGardenprojectofDongguanWuheRealEstateCo.,Ltd.,asubsidiaryoftheCompany,withthedurationfrom5August2022to5August2027.ThelanduserightofHumenSeaBayGardenprojectheldbyDongguanWuheRealEstateCo.,Ltd.waspledged.Themortgageloans(3)attheperiod-endwereusedtodeveloptheLanhushidaiprojectofShenzhenRongyaoRealEstateDevelopmentCo.,Ltd.,asubsidiaryoftheCompany(hereinafterreferredtoas“RongyaoRealEstate”)withthedurationfrom30March2023to30March2026.ThelanduserightofLanhushidaiprojectheldbyRongyaoRealEstatewaspledgedandtheCompanyprovidedjointandseveralliabilityguarantee.Thecreditborrowingsattheperiod-endwereusedforthetransactionpaymentofequityofShenzhenToukongPropertyManagementCo.,Ltd.withthedurationfrom18May2020to10May2025.Othernotes,includinginterestraterange:
43.BondsPayable
(1)BondsPayable
Unit:RMB
| Item | Endingbalance | Beginningbalance |
(2)ChangesofBondsPayable(ExcludingOtherFinancialInstrumentsDividedasFinancialLiabilitiessuchasPreferredSharesandPerpetualBonds)
Unit:RMB
| Name | Parvalue | Couponrate | Issuedate | Bondduration | Issueamount | Beginningbalance | Issuedinthecurrentperiod | Interestaccruedatparvalue | Amortizationofpremiumanddepreciation | Repaidinthecurrentperiod | Endingbalance | Defaultornot |
Total
| Total | - | - |
(3)NotestoConvertibleCorporateBonds
(4)NotestoOtherFinancialInstrumentsClassifiedasFinancialLiabilitiesBasicinformationaboutotheroutstandingfinancialinstrumentssuchaspreferredsharesandperpetualbondsattheperiod-endChangesofoutstandingfinancialinstrumentssuchaspreferredsharesandperpetualbondsattheperiod-end
Unit:RMB
| Outstandingfinancialinstruments | Period-beginning | Increaseforthecurrentperiod | Decreaseforthecurrentperiod | Period-end | ||||
| Number | Carryingvalue | Number | Carryingvalue | Number | Carryingvalue | Number | Carryingvalue | |
NotestobasisfortheclassificationofotherfinancialinstrumentsasfinancialliabilitiesOthernotes:
44.LeaseLiabilities
Unit:RMB
| Item | Endingbalance | Beginningbalance |
| Leasepayments | 34,767,450.58 | 119,208,080.55 |
| Unrecognizedfinancingexpense | -8,265,294.29 | -19,031,438.63 |
| Less:Leaseobligationmaturedwithin1Year | -15,931,064.02 | -22,213,358.37 |
| Total | 10,571,092.27 | 77,963,283.55 |
Othernotes:
45.Long-termPayables
Unit:RMB
| Item | Endingbalance | Beginningbalance |
| Long-termaccountspayable | 400,105,655.56 | |
| Total | 400,105,655.56 |
(1)Long-termPayablesListedbyNature
Unit:RMB
| Item | Endingbalance | Beginningbalance |
| Saleandleasebackfinancing | 400,105,655.56 | 0.00 |
Othernotes:
Thelong-termpayablesattheperiod-endwerethesaleandleasebackfinancingbetweentheCompanyandMaxwealthFinancialLeasingCo.,Ltd.withtheleasetermfrom22December2023to22December2027.
(2)SpecificPayables
Unit:RMB
| Item | Beginningbalance | Increaseforthecurrentperiod | Decreaseforthecurrentperiod | Endingbalance | Reasonforformation |
Othernotes:
46.EndingbalanceReasonforformation
Unit:RMB
| Item | Endingbalance | Beginningbalance |
(2)ChangesinDefinedBenefitPlansObligationpresentvalueofdefinedbenefitplans:
Unit:RMB
| Item | Amountforthecurrentperiod | Amountforthepreviousperiod |
Planassets:
Unit:RMB
| Item | Amountforthecurrentperiod | Amountforthepreviousperiod |
Netliabilities(netassets)ofdefinedbenefitplans:
Unit:RMB
| Item | Amountforthecurrentperiod | Amountforthepreviousperiod |
Notesofinfluenceofcontentofdefinedbenefitplansanditsrelevantriskstothefuturecashflow,timeanduncertaintyoftheCompany:
Notestotheresultsofsignificantactuarialassumptionsandsensitivityanalysisofdefinedbenefitplans:
Othernotes:
47.Provisions
Unit:RMB
| Item | Endingbalance | Beginningbalance | Reasonforformation |
| Pendinglitigation | 650,000.00 | 766,612.52 | LawsuitbetweenFMCandBasepoint |
| Total | 650,000.00 | 766,612.52 |
Othernotes,includingnotestorelatedsignificantassumptionsandevaluationofsignificantprovisions:
RefertoNoteXVI-2fordetails.
48.DeferredIncome
Unit:RMB
| Item | Beginningbalance | Increaseforthecurrentperiod | Decreaseforthecurrentperiod | Endingbalance | Reasonforformation |
Othernotes:
49.OtherNon-currentLiabilities
Unit:RMB
| Item | Endingbalance | Beginningbalance |
| Utilityspecificfund | 549,961.59 | 634,414.79 |
| Housingprinciplefund | 15,997,716.45 | 15,105,690.42 |
| Housewarmingdeposit | 6,335,914.04 | 7,058,030.03 |
| ElectricEquipmentMaintenancefund | 4,019,415.44 | 4,019,415.44 |
| Deputedmaintenancefund | 52,002,751.04 | 53,798,172.96 |
| Follow-upinvestmentofemployeesforLanhuShidaiproject | 40,000,000.00 | 40,000,000.00 |
| Others | 8,133,466.98 | 7,393,196.15 |
| Total | 127,039,225.54 | 128,008,919.79 |
Othernotes:
50.ShareCapital
Unit:RMB
| Beginningbalance | Increase/decrease(+/-) | Endingbalance | |||||
| Newsharesissued | Bonusshares | Bonusissuefromprofit | Others | Subtotal | |||
| Totalshares | 595,979,092.00 | 595,979,092.00 | |||||
Othernotes:
51.OtherEquityInstruments
(1)BasicInformationaboutOtherOutstandingFinancialInstrumentssuchasPreferredSharesandPerpetualBondsatthePeriod-end
(2)ChangesofOutstandingFinancialInstrumentssuchasPreferredSharesandPerpetualBondsatthePeriod-end
Unit:RMB
| Outstandingfinancialinstruments | Period-beginning | Increaseforthecurrentperiod | Decreaseforthecurrentperiod | Period-end | ||||
| Number | Carryingvalue | Number | Carryingvalue | Number | Carryingvalue | Number | Carryingvalue | |
ChangesofotherequityinstrumentsintheCurrentPeriod,reasonsthereofandbasisofrelatedaccountingtreatment:
Othernotes:
52.CapitalReserve
Unit:RMB
| Item | Beginningbalance | Increaseforthecurrentperiod | Decreaseforthecurrentperiod | Endingbalance |
| Othercapitalreserves | 80,488,045.38 | 80,488,045.38 | ||
| Total | 80,488,045.38 | 80,488,045.38 |
Othernotes,includingadescriptionoftheincreaseordecreaseforthecurrentperiodandthereasonsforthechange:
53.TreasuryShares
Unit:RMB
| Item | Beginningbalance | Increaseforthecurrentperiod | Decreaseforthecurrentperiod | Endingbalance |
Othernotes,includingadescriptionoftheincreaseordecreaseforthecurrentperiodandthereasonsforthechange:
54.OtherComprehensiveIncome
Unit:RMB
| Item | Beginningbalance | Amountforthecurrentperiod | Endingbalance | |||||
| Amountbeforedeductingincometaxforthecurrentperiod | Less:recordedinothercomprehensiveincomeinpriorperiodandtransferredinprofitorlossinthe | Less:recordedinothercomprehensiveincomeinpriorperiodandtransferredinretainedearningsinthe | Less:Incometaxexpense | AttributabletotheCompanyastheparentaftertax | Attributableminorityshareholdersaftertax | |||
| currentperiod | currentperiod | |||||||
| I.Othercomprehensiveincomethatmaynotbereclassifiedtoprofitorloss | -2,742,841.65 | -261,743.15 | -261,743.15 | -3,004,584.80 | ||||
| Changesinfairvalueofotherequityinstrumentinvestment\ | -2,742,841.65 | -261,743.15 | -261,743.15 | -3,004,584.80 | ||||
| II.Othercomprehensiveincomethatmaysubsequentlybereclassifiedtoprofitorloss | -1,111,536.30 | 763,783.22 | 763,783.22 | -347,753.08 | ||||
| Differencesarisingfromtranslationofforeigncurrency-denominatedfinancialstatements | -1,111,536.30 | 763,783.22 | 763,783.22 | -347,753.08 | ||||
| Totalofothercomprehensiveincome | -3,854,377.95 | 502,040.07 | 502,040.07 | -3,352,337.88 |
Othernotes,includingtheadjustmentoftheeffectivegain/lossoncashflowhedgestotheinitialrecognizedamount:
55.SpecificReserve
Unit:RMB
| Item | Beginningbalance | Increaseforthecurrentperiod | Decreaseforthecurrentperiod | Endingbalance |
Othernotes,includingadescriptionoftheincreaseordecreaseforthecurrentperiodandthereasonsforthechange:
56.SurplusReserves
Unit:RMB
| Item | Beginningbalance | Increaseforthecurrentperiod | Decreaseforthecurrentperiod | Endingbalance |
| Statutorysurplusreserves | 48,527,172.97 | 67,216,150.98 | 115,743,323.95 | |
| Discretionalsurplusreserves | 365,403.13 | 365,403.13 | ||
| Total | 48,892,576.10 | 67,216,150.98 | 116,108,727.08 |
Notes,includingchangesandreasonofchange:
57.Undistributedprofits
Unit:RMB
| Item | Currentperiod | Previousperiod |
| Beginningbalanceofretainedprofitsbeforeadjustments | 3,692,753,832.81 | 3,788,180,758.20 |
| Adjustthetotalamountofundistributedprofitsatthebeginningoftheyear(increase+,decrease-) | 14,220,566.25 | |
| Beginningbalanceofretainedprofitsafteradjustments | 3,692,753,832.81 | 3,802,401,324.45 |
| Add:NetprofitattributabletoownersoftheCompanyastheparent | 464,014,492.11 | 537,291,574.13 |
| Less:Withdrawalofstatutorysurplusreserve | 67,216,150.98 | 19,249,276.92 |
| Dividendsofcommonsharespayable | 215,148,452.21 | 405,265,782.56 |
| Others | 1,816,919.56 | 222,424,006.29 |
| Endingretainedprofits | 3,872,586,802.17 | 3,692,753,832.81 |
Listofadjustmentofbeginningretainedprofits:
1)RMB1,697,650.08beginningretainedearningswasaffectedbyretrospectiveadjustmentconductedaccordingtotheAccountingStandardsforBusinessEnterprisesandrelevantnewregulations.
2)RMBXXXbeginningretainedearningswasaffectedbychangesinaccountingpolicies.
3)RMBXXXbeginningretainedearningswasaffectedbycorrectionofsignificantaccountingerrors.
4)RMBbeginningretainedprofitswasaffectedbychangesincombinationscopearisingfromsamecontrol.
5)RMBXXXbeginningretainedearningswasaffectedtotallybyotheradjustments.
58.OperatingRevenueandCostofSales
Unit:RMB
| Item | Amountforthecurrentperiod | Amountforthepreviousperiod | ||
| Revenue | Cost | Revenue | Cost | |
| Principalbusiness | 2,947,291,675.00 | 2,233,525,382.49 | 3,690,816,438.73 | 1,978,777,621.22 |
| Others | 17,825,350.04 | 17,852,608.12 | ||
| Total | 2,965,117,025.04 | 2,233,525,382.49 | 3,708,669,046.85 | 1,978,777,621.22 |
Whetherthelowerofthenetprofitbeforeandafterdeductionofnon-recurringgainsandlossesthroughauditisnegative?Yes□No
Unit:RMB
| Item | Thisyear | Details | Sameperiodoflastyear | Details |
| Amountofoperatingincome | 2,965,117,025.04 | Excludingbusinessincomeunrelatedtothemainbusiness,itmainlyconsistedofincomefromtemporaryresettlementcompensationfortheChuanbujiescaffoldingandincomefromconsultingservices. | 3,708,669,046.85 | Excludingbusinessincomeunrelatedtothemainbusiness,itmainlyconsistedofincomefromtemporaryresettlementcompensationfortheChuanbujiescaffoldingandincomefromconsultingservices,andrevenueoftheconsolidatedpartyfromthebeginningoftheperiodtothedateofconsolidationunderasame-controlcombination. |
| Totalamountofitemsdeductedfromoperatingincome | 17,825,350.04 | Excludingbusinessincomeunrelatedtothemainbusiness,itmainlyconsistedofincomefrom | 91,555,827.12 | Excludingbusinessincomeunrelatedtothemainbusiness,itmainlyconsistedofincomefrom |
| temporaryresettlementcompensationfortheChuanbujiescaffoldingandincomefromconsultingservices. | temporaryresettlementcompensationfortheChuanbujiescaffoldingandincomefromconsultingservices,andrevenueoftheconsolidatedpartyfromthebeginningoftheperiodtothedateofconsolidationunderasame-controlcombination. | |||
| Proportionofthetotalamountofitemsdeductedfromoperationincomeinoperatingincome | 0.60% | 2.47% | ||
| I.Businessincomeirrelevanttoprincipalbusiness | ||||
| 1.Incomefromoperationsotherthannormaloperations.Suchasleasingoffixedassets,intangibleassets,packaging,salesofmaterials,non-monetaryexchangeofassetswithmaterials,incomerealizedfromtheoperationoffiduciarymanagementbusiness,etc.,aswellasincomeincludedintheincomefromthemainbusinessbutoutsidethenormaloperationofthelistedcompany. | 17,825,350.04 | Excludingbusinessincomeunrelatedtothemainbusiness,itmainlyconsistedofincomefromtemporaryresettlementcompensationfortheChuanbujiescaffoldingandincomefromconsultingservices. | 17,852,608.12 | Excludingbusinessincomeunrelatedtothemainbusiness,itmainlyconsistedofincomefromtemporaryresettlementcompensationfortheChuanbujiescaffoldingandincomefromconsultingservices. |
| 5.Incomeofsubsidiariesacquiredinbusinesscombinationunderthesamecontrolfromtheperiod-beginningtothecombinationdate. | 73,703,219.00 | InJanuary2022,ITCPropertyManagement,asubsidiaryoftheCompany,acquired100%equityinterestinShenzhenPropertyManagementCo.,Ltd.throughabusinesscombinationunderthesamecontrol.InFebruary2022,ITCPropertyManagement,asubsidiaryoftheCompany,acquired100%equityinterestinShenzhenShenfubaoPropertyDevelopmentCo.,Ltd.,ShenzhenShenfubaoHydropowerMunicipalServiceCo.,Ltd.,ShenzhenFreeTradeZoneSecurityServiceCo.,Ltd.and |
| ShenzhenFreeTradeZonePropertyDevelopmentCo.,Ltd.throughabusinesscombinationunderthesamecontrol. | ||||
| Subtotalofbusinessincomeirrelevanttoprincipalbusiness | 17,825,350.04 | Excludingbusinessincomeunrelatedtothemainbusiness,itmainlyconsistedofincomefromtemporaryresettlementcompensationfortheChuanbujiescaffoldingandincomefromconsultingservices. | 91,555,827.12 | Excludingbusinessincomeunrelatedtothemainbusiness,itmainlyconsistedofincomefromtemporaryresettlementcompensationfortheChuanbujiescaffoldingandincomefromconsultingservices,andrevenueoftheconsolidatedpartyfromthebeginningoftheperiodtothedateofconsolidationunderasame-controlcombination. |
| II.Incomewithoutcommercialsubstance | ||||
| Subtotalofincomewithoutcommercialsubstance | 0.00 | Nodeductionsin2023 | 0.00 | Nodeductionsin2022 |
| III.Otherincomeirrelevanttoprincipalbusinessorwithoutcommercialsubstance | 0.00 | Nodeductionsin2023 | 0.00 | Nodeductionsin2022 |
| Amountofoperatingincomeafterdeduction | 2,947,291,675.00 | Excludingbusinessincomeunrelatedtothemainbusiness,itmainlyconsistedofincomefromtemporaryresettlementcompensationfortheChuanbujiescaffoldingandincomefromconsultingservices. | 3,617,113,219.73 | Excludingbusinessincomeunrelatedtothemainbusiness,itmainlyconsistedofincomefromtemporaryresettlementcompensationfortheChuanbujiescaffoldingandincomefromconsultingservices,andrevenueoftheconsolidatedpartyfromthebeginningoftheperiodtothedateofconsolidationunderasame-controlcombination. |
Breakdowninformationofoperatingincomeandoperatingcost:
Unit:RMB
| Categoryofcontracts | Segment1 | Segment2 | Total | |||||
| OperatingRevenue | Operatingcost | OperatingRevenue | Operatingcost | OperatingRevenue | Operatingcost | OperatingRevenue | Operatingcost | |
| BusinessType | 2,965,117,025.04 | 2,233,525,382.49 | 2,965,117,025.04 | 2,233,525,382.49 | ||||
| Ofwhich: | ||||||||
| Realestatebusiness | 1,234,537,188.62 | 818,496,053.38 | 1,234,537,188.62 | 818,496,053.38 | ||||
| Propertymanagement | 1,578,719,323.98 | 1,316,777,091.32 | 1,578,719,323.98 | 1,316,777,091.32 | |
| Leasingbusiness | 151,860,512.44 | 98,252,237.79 | 151,860,512.44 | 98,252,237.79 | |
| Classificationbyoperatingregion | |||||
| Ofwhich: | |||||
| Shenzhen | 2,569,038,060.46 | 1,865,113,132.68 | 2,569,038,060.46 | 1,865,113,132.68 | |
| Otherregions | 396,078,964.58 | 368,412,249.81 | 396,078,964.58 | 368,412,249.81 | |
| Marketorcustomertype | |||||
| Ofwhich: |
Contracttype
| Contracttype |
| Ofwhich: |
Classificationbytimeofcommoditytransfer
| Classificationbytimeofcommoditytransfer |
| Ofwhich: |
Classificationbycontractterm
| Classificationbycontractterm |
| Ofwhich: |
Classificationbysaleschannel
| Classificationbysaleschannel |
| Ofwhich: |
Total
Informationaboutperformanceobligations:
TotalItem
| Item | Timingoffulfilmentofperformanceobligations | Importantpaymentterms | NatureofgoodsthattheCompanyiscommittedtotransfer | Whetherornotthepersonprimarilyresponsible | FundsundertakenbytheCompanyexpectedtobereturnedtocustomers | TypeofqualityassuranceprovidedbytheCompanyandrelatedobligations |
Othernotes:
Informationinrelationtothetransactionpriceapportionedtotheresidualcontractperformanceobligation:
TheamountofrevenuecorrespondingtoperformanceobligationsofcontractssignedbutnotperformedornotfullyperformedyetwasRMB820,424,953.42attheperiod-end,amongwhichRMB817,430,542.61wasexpectedtoberecognizedin2024,RMB1,812,877.92wasexpectedtoberecognizedin2025,andRMB1,181,532.89wasexpectedtoberecognizedin2026and2027.Informationrelatedtovariableconsiderationincontracts:
Significantcontractchangesorsignificanttransactionpriceadjustments
Unit:RMB
| No. | Nameofproject | Amountofrevenue |
| 1 | SZPRD-FuchangGardenPhaseII | 977,069,378.47 |
| 2 | SZPRD-GoldenCollar’sResort | 191,609,379.17 |
| 3 | SZPRD-HupanYujingPhaseI | 19,045,688.07 |
| 4 | SZPRD-SonghuLangyuan | 3,417,922.80 |
| 5 | SZPRD-HupanYujingPhaseII | 576,078.89 |
Othernotes:
59.TaxesandSurtaxes
Unit:RMB
| Item | Amountforthecurrentperiod | Amountforthepreviousperiod |
| Urbanmaintenanceandconstructiontax | 7,295,168.53 | 11,647,933.20 |
| Educationalsurcharge | 3,290,186.80 | 5,019,133.52 |
| Propertytax | 11,160,717.95 | 5,773,106.72 |
| Landusetax | 2,118,518.10 | 783,939.43 |
| Localeducationalfee | 2,153,783.29 | 3,314,949.88 |
| Landappreciationtax | 78,815,376.80 | 695,789,536.89 |
| Othertaxes | 1,816,495.35 | 3,592,058.16 |
| Total | 106,650,246.82 | 725,920,657.80 |
Othernotes:
60.AdministrativeExpense
Unit:RMB
| Item | Amountforthecurrentperiod | Amountforthepreviousperiod |
| Employeeremuneration | 228,440,720.91 | 238,534,091.52 |
| Administrativeofficecost | 26,172,003.04 | 28,064,014.57 |
| Assetsamortizationanddepreciationexpense | 24,574,492.30 | 26,431,430.81 |
| Litigationcosts | 5,304,840.82 | 960,169.09 |
| Others | 26,086,318.08 | 36,001,949.75 |
| Total | 310,578,375.15 | 329,991,655.74 |
Othernotes:
61.SellingExpense
Unit:RMB
| Item | Amountforthecurrentperiod | Amountforthepreviousperiod |
| Agencyfee | 7,326,766.93 | 30,682,192.07 |
| Consultancyandsalesservicecharges | 7,845,564.84 | 5,037,241.10 |
| Advertisingexpenses | 10,747,667.28 | 2,582,813.39 |
| Employeeremuneration | 9,989,326.02 | 7,740,228.91 |
| Others | 10,847,833.50 | 7,499,522.31 |
| Total | 46,757,158.57 | 53,541,997.78 |
Othernotes:
62.DevelopmentExpense
Unit:RMB
| Item | Amountforthecurrentperiod | Amountforthepreviousperiod |
| Employeeremuneration | 3,808,250.90 | 2,948,680.83 |
| Depreciationandamortizationexpense | 65,160.46 | 87,038.92 |
| Others | 260,073.01 | 208,409.36 |
| Total | 4,133,484.37 | 3,244,129.11 |
Othernotes:
63.FinanceCosts
Unit:RMB
| Item | Amountforthecurrentperiod | Amountforthepreviousperiod |
| Financecosts | 55,928,873.37 | 64,941,564.63 |
| Less:Interestincome | -19,183,529.19 | -21,591,864.72 |
| Foreignexchangegainsorlosses | 761,442.10 | -600,187.19 |
| Others | 6,339,243.02 | 7,821,671.11 |
| Total | 43,846,029.30 | 50,571,183.83 |
Othernotes:
64.OtherIncome
Unit:RMB
| Sources | Amountforthecurrentperiod | Amountforthepreviousperiod |
| Governmentgrantsrelatedtoincome | 7,802,977.21 | 10,637,742.42 |
| Governmentgrantsrelatedtoassets | ||
| Returnofauxiliaryexpenseforindividualincometaxwithheld | 382,244.19 | 282,364.88 |
| AdditionaldeductionofVAT | 5,302,600.13 | 8,204,836.92 |
| RebateofVAT | 1,944,370.99 | 359,114.45 |
| Total | 15,432,192.52 | 19,484,058.67 |
65.GainonChangesinFairValue
Unit:RMB
| Sources | Amountforthecurrentperiod | Amountforthepreviousperiod |
| TradingFinancialAssets | 117,082.19 | |
| Total | 117,082.19 |
Othernotes:
66.InvestmentIncome
Unit:RMB
| Item | Amountforthecurrentperiod | Amountforthepreviousperiod |
| Long-termequityinvestmentincomeaccountedbyequitymethod | 4,339,433.24 | 2,040,461.81 |
| Incomefromthedisposaloflong-termequityinvestments | 701,420,219.12 | |
| Fundscentralclearinghousemoneymanagementinvestment | -59,130.91 | |
| Total | 705,759,652.36 | 1,981,330.90 |
Othernotes:
Theinvestmentincomearisingfromthedisposaloflong-termequityinvestmentsduringtheperiodwasattributabletothedisposalof100%equityinterestinasubsidiary,ShenzhenJinghengtaiRealEstateDevelopmentCo.,Ltd.(hereinafterreferredtoas"JinghengtaiCompany").The21stmeetingofthe10thsessionoftheBoardofDirectorsoftheCompanyandthefirstextraordinaryshareholders'generalmeetingin2023consideredandpassedtheProposalonthePublicListingTransferof100%EquityofWholly-ownedSubsidiaryShenzhenJinghengtaiRealEstateDevelopmentCo.,Ltd.,whichauthorizedthepubliclistingtransferof100%equityofJinghengtaiCompanyontheShenzhenUnitedEquityExchange,withalistingpriceofRMB835million.OnDecember21,2023,theCompanyandHualianHoldingsCompanyLimited(hereinafterreferredtoas"HualianHoldings")signedthePropertyRightsTransactionContractandtheSupplementaryAgreementtothePropertyRightsTransactionContract(hereinafterreferredtoasthe"TransactionContract").(hereinafterreferredtoasthe"TransactionContract").OnDecember22,2023,HualianHoldingsmadeaone-offpaymentofRMB835millionfortheentiretransactionpriceasagreedintheTransactionContract.OnDecember22,2023,theindustrialandcommercialchangeandregistrationproceduresinvolvedintheequitytransferwerecompleted,and100%equityinterestofJinghengtaiCompanywaschangedtothenameofHualianHoldings,andtheCompanynolongerheldequityinterestinJinghengtaiCompany.
67.CreditImpairmentLoss
Unit:RMB
| Item | Amountforthecurrentperiod | Amountforthepreviousperiod |
| Baddebtloss | -19,844,952.87 | -17,395,139.90 |
| Total | -19,844,952.87 | -17,395,139.90 |
Othernotes:
68.AssetImpairmentLoss
Unit:RMB
| Item | Amountforthecurrentperiod | Amountforthepreviousperiod |
| I.Inventoryfallingpricelossandimpairmentprovisionforcontractperformancecosts | -212,173,623.03 | -528,430.23 |
| Total | -212,173,623.03 | -528,430.23 |
Othernotes:
69.AssetDisposalIncome
Unit:RMB
| Sources | Amountforthecurrentperiod | Amountforthepreviousperiod |
| Gainsondisposaloffixedassets | 4,611.81 | -130,574.60 |
| Investmentpropertiesdisposalgains | 175,811,822.99 | |
| Gainondisposalofright-of-useassets | 594,704.56 | |
| Others | 234,052.82 | 129,357.05 |
| Total | 833,369.19 | 175,810,605.44 |
70.Non-operatingIncome
Unit:RMB
| Item | Amountforthecurrentperiod | Amountforthepreviousperiod | Amountrecordedinthecurrentnon-recurringprofitorloss |
| Gainsonexchangeofnon-monetaryassets | 16,447.29 | 5,963.68 | 16,447.29 |
| Confiscatedincome | 2,041,279.63 | 354,580.59 | 2,041,279.63 |
| Paymentsunabletoclear | 34,134.00 | 3,129,253.59 | 34,134.00 |
| Cashoverstatementgain | 300.00 | 300.00 | |
| Others | 1,512,516.17 | 3,708,206.42 | 1,512,516.17 |
| Total | 3,604,677.09 | 7,198,004.28 | 3,604,677.09 |
Othernotes:
71.Non-operatingExpense
Unit:RMB
| Item | Amountforthecurrentperiod | Amountforthepreviousperiod | Amountrecordedinthecurrentnon-recurringprofitorloss |
| Lossontheswapofnon-monetaryassets | 142,785.08 | 207,427.68 | 142,785.08 |
| Donation | 79,840.57 | 26,000.00 | 79,840.57 |
| Litigationexpenses | 694,346.32 | 258,891.82 | 694,346.32 |
| Abnormalloss | 8,800.00 | 8,800.00 | |
| Penaltyandfinefordelayingpayment | 1,962,837.07 | 121,377.17 | 1,962,837.07 |
| Others | 3,615,895.16 | 1,943,197.07 | 3,615,895.16 |
| Total | 6,504,504.20 | 2,556,893.74 | 6,504,504.20 |
Othernotes:
72.IncomeTaxExpense
(1)ListofIncomeTaxExpense
Unit:RMB
| Item | Amountforthecurrentperiod | Amountforthepreviousperiod |
| Currentincometaxexpense | 142,880,361.95 | 324,691,681.99 |
| Deferredincometaxexpense | 113,993,935.97 | -102,969,556.33 |
| Total | 256,874,297.92 | 221,722,125.66 |
(2)AdjustmentProcessofAccountingProfitandIncomeTaxExpense
Unit:RMB
| Item | Amountforthecurrentperiod |
| Totalprofit | 706,733,159.40 |
| Currentincometaxexpenseaccountedatstatutory/applicabletaxrate | 176,683,289.85 |
| Influenceofapplyingdifferenttaxratesbysubsidiaries | -5,415,376.77 |
| Influenceofincometaxbeforeadjustment | 5,569,790.87 |
| Effectsofnon-taxablerevenue | -1,084,858.31 |
| Influenceofnon-deductiblecosts,expensesandlosses | 25,375,468.22 |
| Effectsofnon-deductiblecosts,expensesandlossesEffectsoftheutilizationofdeductiblelossesonwhichdeferredincometaxassetswereunrecognizedinthepriorperiod | 708,571.83 |
| Effectofdeductibletemporarydifferencesordeductiblelossesondeferredincometaxassetsnotrecognizedinthecurrentperiod | 55,037,412.23 |
| Incometaxexpense | 256,874,297.92 |
Othernotes:
73.OtherComprehensiveIncome
RefertoNoteVII-54fordetails.
74.CashFlowStatement
(1)CashRelatedtoOperatingActivities
CashGeneratedfromOtherOperatingActivities
Unit:RMB
| Item | Amountforthecurrentperiod | Amountforthepreviousperiod |
| Largeintercoursefundsreceived | 117,918,299.90 | 531,021,536.31 |
| Interestincome | 19,183,529.19 | 21,591,864.72 |
| Netmargins,securitydepositandvariousspecialfundsreceived | 114,428,356.99 | 118,560,933.18 |
| Governmentgrantsreceived | 7,802,977.21 | 10,637,742.42 |
| Othersmallreceivables | 88,094,832.06 | 30,089,906.24 |
| Decreasedlimitedamountforthecurrent | 7,835,036.35 | 366,965,985.73 |
| period | ||
| Total | 355,263,031.70 | 1,078,867,968.60 |
Notes:
CashUsedinOtherOperatingActivities
Unit:RMB
| Item | Amountforthecurrentperiod | Amountforthepreviousperiod |
| Payingadministrativeexpenseincash | 63,006,009.01 | 61,038,183.86 |
| Payingsellingexpenseincash | 36,673,353.00 | 48,198,423.56 |
| Netpaymentofutilityexpenseandvariouscollectingpaymentsonbehalfofothers | 115,368,992.19 | 79,085,946.82 |
| Othersmallpayments | 41,068,618.68 | 47,884,937.67 |
| Amountofnewlylimitedfunds | 15,659,341.60 | 1,721,815.22 |
| Total | 271,776,314.48 | 237,929,307.13 |
Notes:
(2)CashRelatedtoInvestingActivitiesCashGeneratedfromOtherInvestingActivities
Unit:RMB
| Item | Amountforthecurrentperiod | Amountforthepreviousperiod |
Significantcashreceivedrelatedtoinvestingactivities
Unit:RMB
| Item | Amountforthecurrentperiod | Amountforthepreviousperiod |
| Netcashreceivedfromdisposalofsubsidiariesandotheroperatingunits | 634,578,885.34 | |
| Total | 634,578,885.34 |
Notes:
CashUsedinOtherInvestingActivities
Unit:RMB
| Item | Amountforthecurrentperiod | Amountforthepreviousperiod |
Significantcashpaidrelatedtoinvestingactivities
Unit:RMB
| Item | Amountforthecurrentperiod | Amountforthepreviousperiod |
Notes:
(3)CashRelatedtoFinancingActivitiesCashGeneratedfromOtherFinancingActivities
Unit:RMB
| Item | Amountforthecurrentperiod | Amountforthepreviousperiod |
| Receiptofsaleandleasebackfinancing | 400,000,000.00 | |
| Total | 400,000,000.00 | 0.00 |
Notes:
CashUsedinOtherFinancingActivities
Unit:RMB
| Item | Amountforthecurrentperiod | Amountforthepreviousperiod |
| Cashconsiderationpaidbythemergingpartyinabusinesscombinationundercommoncontrolatthecombinationdate | 1,816,919.56 | 271,489,501.62 |
| Profitsallocationfromconsolidatedcompaniesundercommoncontroltoformershareholders | 5,339,999.94 | |
| Paymentforleaseliabilities | 25,266,936.77 | 29,681,985.71 |
| Total | 27,083,856.33 | 306,511,487.27 |
Notes:
Changesinliabilitiesarisingfromfinancingactivities
□Applicable?Notapplicable
(4)DescriptionofCashFlowsPresentedonaNetBasis
| Item | Relevantfactualinformation | Basisforusingnetpresentation | Financialimpact |
(5)SignificantActivitiesandFinancialImpactthatDoNotInvolveCurrentCashReceiptsandDisbursementsbutAffecttheCompany'sFinancialPositionorMayAffecttheCompany'sCashFlowsintheFuture
75.SupplementalInformationforCashFlowStatement
(1)SupplementalInformationforCashFlowStatement
Unit:RMB
| Supplementalinformation | Amountduringthecurrentperiod | Previousperiod |
| 1.Reconciliationofnetprofittonetcashflowsgeneratedfromoperatingactivities | ||
| Netprofit | 449,858,861.48 | 529,010,293.32 |
| Add:Provisionforimpairmentofassets | 232,018,575.90 | 17,923,570.13 |
| Depreciationoffixedassets,oil-gasassets,andproductivebiologicalassets | 55,281,119.81 | 89,598,947.26 |
| Depreciationofright-of-useassets | 18,139,758.01 | 22,380,277.42 |
| Amortizationofintangibleassets | 379,581.77 | 484,006.42 |
| Amortizationoflong-termprepaidexpenses | 7,726,470.46 | 7,522,321.06 |
| Lossesfromdisposaloffixedassets,intangibleassetsandotherlong-livedassets(gainsrepresentedby“-") | -833,369.19 | -170,564,114.45 |
| Lossesfromscrapoffixedassets(gainsrepresentedby“-") | 126,337.79 | 201,464.00 |
| Lossesfromchangesinfairvalue(gainsrepresentedby“-") | -117,082.19 | |
| Financecosts(gainsrepresentedby“-") | 55,167,431.27 | 69,585,200.52 |
| Investmentloss(gainsrepresentedby“-") | -705,759,652.36 | -1,981,330.90 |
| Decreaseindeferredincometaxassets(gainsrepresentedby“-") | 131,110,960.37 | -102,903,681.08 |
| Increaseindeferredincometaxliabilities(decreaserepresentedby“-") | -17,117,024.40 | -65,875.25 |
| Decreaseininventory(gainsrepresentedby“-") | -485,801,483.89 | -1,729,017,854.81 |
| Decreaseinaccountsreceivablegeneratedfromoperatingactivities(gainsrepresentedby“-") | -69,297,620.74 | 611,487,330.14 |
| Increaseinaccountspayableusedinoperatingactivities(decreaserepresentedby“-") | 64,907,069.39 | 761,689,632.27 |
| Others | ||
| Netcashflowsfromoperatingactivities | -264,092,984.33 | 105,233,103.86 |
| 2.Significantinvestingandfinancingactivitieswithoutinvolvementofcashreceiptsandpayments | ||
| Conversionofdebttocapital | ||
| Convertiblecorporatebondsmaturedwithinoneyear | ||
| Fixedassetunderfinancelease | ||
| 3.Netincrease/decreaseofcashandcashequivalent: | ||
| Closingbalanceofcash | 2,733,139,135.12 | 1,509,693,857.48 |
| Less:Openingbalanceofcash | 1,509,693,857.48 | 1,907,742,235.25 |
| Add:Closingbalanceofcashequivalents | ||
| Less:Openingbalanceofcashequivalents | ||
| Netincreaseincashandcashequivalents | 1,223,445,277.64 | -398,048,377.77 |
(2)NetCashPaidforAcquisitionofSubsidiaries
Unit:RMB
| Amount | |
| Ofwhich: | |
| Ofwhich: | |
| Ofwhich: |
Othernotes:
(3)NetCashReceivedfromDisposaloftheSubsidiaries
Unit:RMB
| Amount | |
| Cashorcashequivalentsreceivedinthecurrentperiodfromthedisposalofsubsidiariesinthecurrentperiod | 835,000,000.00 |
| Ofwhich: | |
| Less:cashandcashequivalentsheldbysubsidiariesonthedateoflosingcontrolpower | 200,421,114.66 |
| Ofwhich: | |
| Ofwhich: | |
| Netcashproceedsfromthedisposalofsubsidiaries | 634,578,885.34 |
Othernotes:
(4)CashandCashEquivalents
Unit:RMB
| Item | Endingbalance | Beginningbalance |
| I.Cash | 2,733,139,135.12 | 1,509,693,857.48 |
| Ofwhich:Cashonhand | 75,265.01 | 43,833.00 |
| Bankdepositsondemand | 2,729,897,603.00 | 1,506,148,081.54 |
| Othermonetaryassetsondemand | 3,166,267.11 | 3,501,942.94 |
| III.Endingbalanceofcashandcashequivalents | 2,733,139,135.12 | 1,509,693,857.48 |
(5)PresentationofCashandCashEquivalentsthatAreSubjecttoCertainRestrictionsonTheirUsage
Unit:RMB
| Item | Amountduringthecurrentperiod | Previousperiod | Reasonforclassifyingtheitemascashandcashequivalents |
| Pre-salefundsforGuangmingYutangShangfuProject | 640,559,629.03 | 0.00 | Thesearefundswithinthepresalesupervisionquotaoftheproject,whichwecanapplyforinaccordancewiththerelevantregulationsonthesupervisionofpresalefundstopayfortheconstructionexpendituresoftheprojectandtherelevantstatutorytaxesandfees. |
| Total | 640,559,629.03 | 0.00 |
(6)MonetaryAssetsNotClassifiedasCashandCashEquivalents
Unit:RMB
| Item | Amountduringthecurrentperiod | Previousperiod | Reasonfornotclassifyingtheitemascashandcashequivalents |
Othernotes:
(7)NotesonOtherSignificantActivities
76.NotestoItemsoftheStatementsofChangesinOwners'EquityNotestothenameof“Other”ofclosingbalanceattheendofthepreviousyearadjustedandtheamountadjusted:
77.ForeignCurrencyMonetaryItems
(1)ForeignCurrencyMonetaryItems
Unit:RMB
| Item | Closingforeigncurrencybalance | Exchangerate | EndingbalanceconvertedtoRMB |
| Monetarycapital | 63,425,102.95 | ||
| Ofwhich:USD | 120,000.00 | 7.0827 | 849,924.00 |
| EUR | |||
| HKD | 63,245,266.17 | 0.9062 | 57,312,860.20 |
| VND | 17,960,132,240.00 | 0.000293 | 5,262,318.75 |
| Accountsreceivable | 5,944,668.99 | ||
| Ofwhich:USD | |||
| EUR | |||
| HKD | |||
| VND | 20,288,972,667.00 | 0.000293 | 5,944,668.99 |
| Long-termborrowings | |||
| Ofwhich:USD | |||
| EUR | |||
| HKD | |||
| Accountsprepaid | 85,071.12 | ||
| Ofwhich:VND | 290,345,128.00 | 0.000293 | 85,071.12 |
| Otherreceivables | 275,544.61 | ||
| Ofwhich:HKD | 66,215.94 | 0.9062 | 60,004.88 |
| VND | 735,630,492.00 | 0.000293 | 215,539.73 |
| Accountspayable | 648,634.87 | ||
| Ofwhich:HKD | 56,000.00 | 0.9062 | 50,747.20 |
| VND | 2,040,572,245.00 | 0.000293 | 597,887.67 |
| Otherpayables | 1,845,634.27 | ||
| Ofwhich:HKD | 356,603.25 | 0.9062 | 323,153.87 |
| VND | 5,196,178,850.00 | 0.000293 | 1,522,480.40 |
Othernotes:
(2)NotestoOverseasEntitiesIncluding:forSignificantOverseaEntities,MainOperatingPlace,RecordingCurrencyandSelectionBasisShallBeDisclosed;ifthereAreChangesinRecordingCurrency,RelevantReasonsShallBeDisclosed.?Applicable□Notapplicable
| Item | Mainoperatingplace | Standardcurrencyforaccounting | Basisforchoosing |
| ShumYipDevelopmentCompanyLimitedanditssubsidiaries | HongKong | HKD | LocatedinHK,settledbyHKD |
| VietnamShenguomaoPropertyManagementCo.,Ltd. | Vietnam | VND | LocatedinVietnam,settledbyVND |
78.Lease
(1)TheCompanyWasLessee:
?Applicable□NotapplicableVariableleasepaymentsthatarenotcoveredinthemeasurementoftheleaseliabilities
□Applicable?NotapplicableSimplifiedshort-termleaseorleaseexpenseforlow-valueassets?Applicable□NotapplicableAmountrecognizedinprofitorloss
| Currency:RMB | |
| Category | Amountfortheyear |
| Depreciationexpenseonright-of-useassets(Note1) | 18,139,758.01 |
| Interestexpenseonleaseliabilities(Note2) | 3,818,066.83 |
| Expenserelatingtoshort-termleases | 7,843,708.84 |
| Leaseexpenseforlow-valueassets | |
| Variableleasepaymentsthatarenotcoveredinthemeasurementoftheleaseliabilities(Note3) | |
| Incomefromunderleaseofright-of-useassets | 2,330,334.89 |
| Totalcashoutflowsrelatedtoleases | 25,266,936.77 |
Note1:Therewasnodepreciationexpenseoncapitalizedright-of-useassetsin2023.Note2:Therewasnointerestexpenseoncapitalizedleaseliabilitiesin2023.Note3:Therewerenovariableleasepaymentsnotincludedinthemeasurementofleaseliabilitiesin2023.CircumstancesinvolvingsaleandleasebacktransactionsInDecember2023,theCompanyenteredintoasaleandleasebackcontractwithMAXWEALTHFinancialLeasingCo.,Ltd.forthetransferofcertainofficeequipmentwithaleasebackperiodof48months.Sincethefixedassetswerenottransferredtothepurchaserfromthebeginningtotheend,itwasjudgednottobeasale,andtheamountreceivedwasaccountedforasaliability.
(2)TheCompanyWasLessor:
OperatingleaseswiththeCompanyaslessor?Applicable□Notapplicable
Unit:RMB
| Item | Rentalincome | Ofwhich:incomerelatedtovariableleasepaymentsnotincludedinleasereceipts |
| Leaseitems | 151,860,512.44 | |
| Total | 151,860,512.44 |
FinanceleaseswiththeCompanyaslessor
□Applicable?NotapplicableUndiscountedleasereceiptsforeachofthenextfiveyears?Applicable□Notapplicable
| Item | Undiscountedleasereceiptsperyear | |
| Endingamount | Beginningamount | |
| The1styear | 124,863,019.23 | 153,626,556.21 |
| The2ndyear | 70,271,138.44 | 115,333,626.11 |
| The3rdyear | 42,292,889.70 | 59,371,122.09 |
| The4thyear | 32,718,754.54 | 40,073,621.45 |
| The5thyear | 24,297,422.32 | 32,034,337.31 |
| Totalundiscountedleasereceiptsafterfiveyears | 14,891,056.43 | 33,038,892.86 |
Unit:RMBReconciliationofundiscountedleasereceiptstonetinvestmentinleases
(3)RecognitionofGainorLossonSalesunderFinanceLeaseswiththeCompanyasaManufacturerorDistributor
□Applicable?Notapplicable
79.Others
VIII.ResearchandDevelopmentExpenditure
Unit:RMB
| Item | Amountforthecurrentperiod | Amountforthepreviousperiod |
| Staffcosts | 3,808,250.90 | 2,948,680.83 |
| Depreciationandamortizationexpense | 65,160.46 | 87,038.92 |
| Other | 260,073.01 | 208,409.36 |
| Total | 4,133,484.37 | 3,244,129.11 |
| Ofwhich:Expensedresearchanddevelopmentexpenditure | 4,133,484.37 | 3,244,129.11 |
1.R&DProjectsEligibleforCapitalization
Unit:RMB
| Item | Beginningbalance | Increasedamountofthecurrentperiod | Decreasedamountforthecurrentperiod | Endingbalance | ||||
| Internaldevelopmentcosts | Others | Recognizedasintangibleassets | Transferredintothecurrentprofitorloss | |||||
Total
SignificantcapitalizedR&Dprojects
Total
Item
| Item | R&Dprogress | Estimatedcompletiondate | Expectedmannerofgenerationofeconomicbenefits | Timeofcommencementofcapitalization | Specificbasisforcommencementofcapitalization |
Provisionforimpairmentofdevelopmentexpenditure
Unit:RMB
| Item | Beginningbalance | Increaseforthecurrentperiod | Decreaseforthecurrentperiod | Endingbalance | Impairmenttesting |
2.SignificantOutsourcedResearchandDevelopmentProjectsinProgress
| Projectname | Mannerinwhichtheeconomicbenefitsareexpectedtobegenerated | Judgmentcriteriaandspecificbasisforcapitalizationorexpensing |
Othernotes:
IX.ChangeofConsolidationScope
1.BusinessCombinationNotundertheSameControl
(1)BusinessCombinationNotundertheSameControlduringtheCurrentPeriod
Unit:RMB
| Nameofacquiree | Timeandplaceofgainingequity | Costofgainingtheequity | Proportionofequity | Waytogainequity | Purchasedate | Recognitionbasisofpurchasedate | Incomeofacquireefromthepurchasedatetoperiod-end | Netprofitsofacquireefromthepurchasedatetoperiod-end | Cashflowsoftheacquireefromthepurchasedatetotheendoftheperiod |
Othernotes:
(2)CombinationCostandGoodwill
Unit:RMB
| Combinationcost |
| -Cash |
| -Fairvalueofnon-cashassets |
| -Fairvalueofdebtissuedorassumed |
| -Fairvalueofequitysecuritiesissued |
| -Fairvalueofcontingentconsideration |
| -Fairvalueofequityinterestsheldbeforethepurchasedate |
| --Other |
| Totalcombinationcosts |
| Less:shareinthefairvalueofidentifiablenetassetsacquired |
| Theamountofgoodwill/combinationcostlessthantheshareinthefairvalueofidentifiablenetassetsacquired |
Methodofdeterminingthefairvalueofthecostofconsolidation:
NotestocontingentconsiderationandchangesthereinThemainformationreasonforthelargegoodwill:
Othernotes:
(3)TheIdentifiableAssetsandLiabilitiesofAcquireeonPurchaseDate
Unit:RMB
| Fairvalueonpurchasedate | Carryingvalueonpurchasedate | |
| Assets: | ||
| Monetarycapital | ||
| Accountsreceivable | ||
| Inventories | ||
| Fixedassets | ||
| Intangibleassets |
Liabilities:
| Liabilities: |
| Borrowings |
| Accountspayable |
| Deferredincometaxliabilities |
Netassets
| Netassets |
| Less:non-controllinginterests |
| Netassetsacquired |
Thedeterminationmethodofthefairvalueofidentifiableassetsandliabilities:
Contingentliabilityofacquireeundertakeninthebusinesscombination:
Othernotes:
(4)GainsorLossesfromRe-measurementofEquityHeldbeforethePurchaseDateatFairValueWhetherthereisatransactionthatthroughmultipletransactionstepbysteptorealizebusinesscombinationandgainingthecontrolduringtheReportingPeriod
□Yes?No
(5)NotestoReasonableConsiderationorFairValueofIdentifiableAssetsandLiabilitiesoftheAcquireethatCannotBeDeterminedontheAcquisitionDateorduringthePeriod-endoftheMerger
(6)OtherNotes
2.BusinessCombinationundertheSameControl
(1)BusinessCombinationundertheSameControlduringtheCurrentPeriod
Unit:RMB
| Combinedparty | Proportionoftheequity | Basis | Combinationdate | Recognitionbasisofcombinationdate | Incomefromtheperiod-begintothecombinationdateoftheacquiree | Netprofitsfromtheperiod-begintothecombinationdateoftheacquiree | Incomeoftheacquireeduringtheperiodofcomparison | Netprofitsoftheacquireeduringtheperiodofcomparison |
Othernotes:
(2)CombinationCost
Unit:RMB
| Combinationcost |
| -Cash |
| --Carryingvalueofnon-cashassets |
| --Carryingvalueofdebtissuedorassumed |
| --Denominationvalueofequitysecuritiesissued |
| --Contingentconsideration |
Contingentliabilitiesandchangesthereof:
Othernotes:
(3)TheCarryingValueofAssetsandLiabilitiesoftheCombinedPartyontheCombinationDate
Unit:RMB
| Combinationdate | Endofthepreviousperiod | |
| Assets: | ||
| Monetarycapital | ||
| Accountsreceivable | ||
| Inventories | ||
| Fixedassets | ||
| Intangibleassets |
Liabilities:
| Liabilities: |
| Borrowings |
| Accountspayable |
Netassets
| Netassets |
| Less:non-controllinginterests |
| Netassetsacquired |
Contingentliabilitiesofthecombinedpartyundertakeninthebusinesscombination:
Othernotes:
3.CounterPurchase
Basicinformationoftrading,thebasisoftransactionsconstitutecounterpurchase,theretainassets,liabilitiesofthelistedcompanieswhetherconstitutedabusinessanditsbasis,thedeterminationofthecombinationcosts,theamountandcalculationofadjustedrightsandinterestsinaccordancewiththeequitytransactionprocess:
4.DisposalofSubsidiaryWhethertherewereanytransactionsoreventsduringtheperiodinwhichcontrolofthesubsidiarywaslost?Yes□No
Unit:RMB
| Nameofsubsidiaries | Disposalpriceatthetimeoflossofcontrol | Disposalratioatthetime | Disposalmethodatthe | Timeoflosingcontrol | Basisforjudgingthetimeofloss | Differencebetweenthedisposalprice | Proportionofremaining | Carryingvalueoftheremaining | Fairvalueoftheremaining | Gainsorlossesfromre- | Methodofdeterminingthefair | Amountofothercomprehensive |
| oflossofcontrol | timeoflossofcontrol | power | ofcontrol | andtheCompany’sshareofthesubsidiary’snetassetsintheconsolidatedfinancialstatementsrelevanttothedisposedequityinterest | equityatthedateoflossofcontrol | equityinterestattheleveloftheconsolidatedfinancialstatementsatthedateoflossofcontrol | equityinterestattheconsolidatedfinancialstatementlevelatthedateoflossofcontrol | measurementofresidualequityatfairvalue | valueoftheremainingequityinterestattheconsolidatedfinancialstatementlevelatthedateoflossofcontrolandmajorassumptions | incomerelatedtoequityinvestmentofformersubsidiariestransferredintoinvestmentgainorlossorretainedearnings | ||
| ShenzhenJinghengtaiRealEstateDevelopmentCo.,Ltd. | 835,000,000.00 | 100.00% | Saleofequityinterests | 22December2023 | Signedthepropertyrightstransactioncontractandcollectionoftheentiretransactionprice,andcompletedtheregistrationofindustrialandcommercialchanges. | 701,420,219.12 | 0.00% | 0.00 | 0.00 | 0.00 | 0.00 |
Othernotes:
Whethertherewasastep-by-stepdisposalofinvestmentinasubsidiarythroughmultipletransactionsandlossofcontrolduringthecurrentperiod
□Yes?No
5.ChangesinCombinationScopeforOtherReasons
Notesofotherchangesinthecombinationscope(e.g.,newsubsidiaries,liquidationofsubsidiaries,etc.)andrelevantsituations:
SubsidiaryZhanjiangBranchofShenzhenProperties&ResourcesDevelopment(Group)Ltd.completedtheregistrationofindustrialandcommercialderegistrationinJune2023.SubsidiaryShenzhenHuazhengpengPropertyManagementDevelopmentCo.,Ltd.completedtheregistrationofindustrialandcommercialderegistrationinSeptember2023.
6.Other
X.EquityinOtherEntities
1.EquityinSubsidiaries
(1)CompositionsoftheGroup
Unit:RMB
| Nameofsubsidiaries | Registeredcapital | Mainoperatingplace | Placeofregistration | Businessnature | Shareholdingpercentage(%) | Wayofgaining | |
| Directly | Indirectly | ||||||
| ShenzhenHuangchengRealEstateCo.,Ltd. | 30,000,000.00 | Shenzhen | Shenzhen | Realestate | 100.00% | Set-up | |
| ShenzhenWuheIndustryInvestmentDevelopmentCo., | 100,000,000.00 | Shenzhen | Shenzhen | Realestate | 100.00% | Set-up | |
| Ltd. | |||||||
| ShenzhenFacilityManagementCommunityTechnologyCo.,Ltd. | 15,453,000.00 | Shenzhen | Shenzhen | Softwareandinformationtechnologyservices | 35.00% | Businesscombinationnotunderthesamecontrol | |
| BeijingFacilityHomeTechnologyCo.,Ltd. | 5,000,000.00 | Beijing | Beijing | Softwareandinformationtechnologyservices | 17.85% | Businesscombinationnotunderthesamecontrol | |
| SZPRDXuzhouDapengRealEstateDevelopmentCo.,Ltd. | 50,000,000.00 | Xuzhou | Xuzhou | Realestate | 100.00% | Set-up | |
| DongguanITCChangshengRealEstateDevelopmentCo.,Ltd. | 20,000,000.00 | Dongguan | Dongguan | Realestate | 100.00% | Set-up | |
| SZPRDYangzhouRealEstateDevelopmentCo.,Ltd. | 50,000,000.00 | Yangzhou | Yangzhou | Realestate | 100.00% | Set-up | |
| ShenzhenInternationalTradeCenterPropertyManagementCo.,Ltd. | 20,000,000.00 | Shenzhen | Shenzhen | Realestate | 100.00% | Set-up | |
| ShenzhenGuomaomeiLifeServiceCo.,Ltd. | 5,000,000.00 | Shenzhen | Shenzhen | Realestate | 100.00% | Set-up | |
| ShandongShenguomaoRealEstateManagementCo.,Ltd. | 5,000,000.00 | Jinan | Jinan | Serviceindustry | 100.00% | Set-up | |
| ChongqingShenguomaoRealEstateManagementCo.,Ltd. | 5,000,000.00 | Chongqing | Chongqing | Realestate | 100.00% | Set-up | |
| ChongqingAoboElevatorCo.,Ltd. | 5,000,000.00 | Chongqing | Chongqing | Serviceindustry | 100.00% | Set-up | |
| ChongqingTianqueElevatorTechnologyCo.,Ltd. | 5,000,000.00 | Shenzhen | Shenzhen | Serviceindustry | 100.00% | Set-up | |
| ShenzhenGuoguanElectromechanicalDeviceCo.,Ltd. | 1,200,000.00 | Shenzhen | Shenzhen | Serviceindustry | 100.00% | Set-up | |
| ShenzhenGuomaoCateringCo.,Ltd. | 2,000,000.00 | Shenzhen | Shenzhen | Accommodationandcatering | 100.00% | Set-up | |
| ShenzhenPropertyEngineeringandConstructionSupervisionCo.,Ltd. | 3,000,000.00 | Shenzhen | Shenzhen | Serviceindustry | 100.00% | Set-up | |
| SZPRDCommercialOperationCo.,Ltd. | 40,000,000.00 | Shenzhen | Shenzhen | Serviceindustry | 100.00% | Set-up |
| ShumYipDevelopmentCompanyLimited | HKD20,000,000.00 | HongKong | HongKong | Realestate | 100.00% | Set-up | |
| WayhangDevelopmentCo.,Ltd. | HKD2.00 | HongKong | HongKong | Realestate | 100.00% | Set-up | |
| ChiefLinkPropertiesCo.,Ltd. | HKD100.00 | HongKong | HongKong | Realestate | 70.00% | Set-up | |
| SyndisInvestmentCo.,Ltd. | HKD4.00 | HongKong | HongKong | Realestate | 70.00% | Businesscombinationnotunderthesamecontrol | |
| YangzhouShouxihuJingyuePropertyDevelopmentCo.,Ltd. | 10,000,000.00 | Yangzhou | Yangzhou | Realestate | 51.00% | Set-up | |
| ShandongInternationalTradeCenterHotelManagementCo.,Ltd. | 3,000,000.00 | Jinan | Jinan | Accommodationandcatering | 100.00% | Set-up | |
| ShenzhenShenshanSpecialCooperationZoneGuomaoPropertyDevelopmentCo.,Ltd. | 5,000,000.00 | Shenzhen | Shenzhen | Realestate | 65.00% | Set-up | |
| ShenzhenGuomaoTonglePropertyManagementCo.,Ltd. | 2,000,000.00 | Shenzhen | Shenzhen | Realestate | 51.00% | Set-up | |
| ShenzhenRongyaoRealEstateDevelopmentCo.,Ltd. | 10,000,000.00 | Shenzhen | Shenzhen | Realestate | 69.00% | Businesscombinationnotunderthesamecontrol | |
| ShenzhenITCTechnologyParkServiceCo.,Ltd. | 30,000,000.00 | Shenzhen | Shenzhen | Realestate | 100.00% | Businesscombinationunderthesamecontrol | |
| ShenzhenJulianHumanResourcesDevelopmentCo.,Ltd. | 300,000.00 | Shenzhen | Shenzhen | Serviceindustry | 100.00% | Businesscombinationunderthesamecontrol | |
| ShenzhenPenghongyuanIndustrialDevelopmentCo.,Ltd. | 8,000,000.00 | Shenzhen | Shenzhen | Serviceindustry | 100.00% | Businesscombinationunderthesamecontrol | |
| ShenzhenJinhailianPropertyManagementCo.,Ltd. | 3,000,000.00 | Shenzhen | Shenzhen | Serviceindustry | 100.00% | Businesscombinationunderthesamecontrol | |
| ShenzhenSocialWelfareCo.,Ltd. | 35,000,000.00 | Shenzhen | Shenzhen | Serviceindustry | 100.00% | Businesscombinationunderthesamecontrol | |
| ShenzhenFuyuanminPropertyManagement | 10,000,000.00 | Shenzhen | Shenzhen | Realestate | 100.00% | Businesscombinationunderthesamecontrol |
| LimitedLiabilityCompany | |||||||
| ShenzhenMeilongIndustrialDevelopmentCo.,Ltd. | 5,000,000.00 | Shenzhen | Shenzhen | Serviceindustry | 100.00% | Businesscombinationunderthesamecontrol | |
| ShenzhenGuomaoShenlvGardenCo.,Ltd. | 10,600,000.00 | Shenzhen | Shenzhen | Publicfacilitiesmanagementservices | 90.00% | Businesscombinationunderthesamecontrol | |
| ShenzhenJiayuanPropertyManagementCo.,Ltd. | 1,000,000.00 | Shenzhen | Shenzhen | Realestate | 54.00% | Businesscombinationunderthesamecontrol | |
| ShenzhenHelinhuaConstructionManagementCo.,Ltd. | 3,000,000.00 | Shenzhen | Shenzhen | Realestate | 90.00% | Businesscombinationunderthesamecontrol | |
| ShenzhenZhongtongdaHouseXiushanServiceCo.,Ltd. | 2,500,000.00 | Shenzhen | Shenzhen | Constructionindustry | 90.00% | Businesscombinationunderthesamecontrol | |
| ShenzhenKangpingIndustrialCo.,Ltd. | 1,000,000.00 | Shenzhen | Shenzhen | Serviceindustry | 90.00% | Businesscombinationunderthesamecontrol | |
| ShenzhenSportsServiceCo.,Ltd. | 3,300,000.00 | Shenzhen | Shenzhen | Serviceindustry | 100.00% | Businesscombinationunderthesamecontrol | |
| ShenzhenTeacher’sHomeTrainingCo.,Ltd. | 1,660,000.00 | Shenzhen | Shenzhen | Serviceindustry | 100.00% | Businesscombinationunderthesamecontrol | |
| ShenzhenEducationIndustrialCo.,Ltd. | 4,985,610.00 | Shenzhen | Shenzhen | Serviceindustry | 100.00% | Businesscombinationunderthesamecontrol | |
| ShenzhenYufaIndustrialCo.,Ltd. | 1,050,000.00 | Shenzhen | Shenzhen | Serviceindustry | 80.95% | Businesscombinationunderthesamecontrol | |
| SZPRDFuyuantaiDevelopmentCo.,Ltd. | 10,000,000.00 | Shenzhen | Shenzhen | Realestate | 100.00% | Set-up | |
| XiamenShenguomaoIndustrialCitySmartServiceCo.,Ltd. | 5,000,000.00 | Xiamen | Xiamen | Serviceindustry | 51.00% | Set-up | |
| VietnamShenguomaoPropertyManagementCo.,Ltd. | USD200,000.00 | Vietnam | Vietnam | Serviceindustry | 100.00% | Set-up | |
| ShenzhenSZPRDYanzihuDevelopmentCo.,Ltd. | 10,000,000.00 | Shenzhen | Shenzhen | Realestate | 100.00% | Set-up | |
| ShenzhenGuangmingWuheRealEstateCo.,Ltd. | 50,000,000.00 | Shenzhen | Shenzhen | Realestate | 100.00% | Set-up | |
| DongguanWuhe | 50,000,000.00 | Dongguan | Dongguan | Realestate | 100.00% | Set-up |
| RealEstateCo.,Ltd. | |||||||
| ShenzhenPropertyManagementCo.,Ltd. | 7,250,000.00 | Shenzhen | Shenzhen | Realestate | 100.00% | Businesscombinationunderthesamecontrol | |
| ShenzhenShenwuElevatorCo.,Ltd. | 3,500,000.00 | Shenzhen | Shenzhen | Realestate | 100.00% | Businesscombinationunderthesamecontrol | |
| ShenzhenShenfangPropertyCleaningCo.,Ltd. | 1,000,000.00 | Shenzhen | Shenzhen | Realestate | 100.00% | Businesscombinationunderthesamecontrol | |
| ShenzhenForeignTradePropertyManagementCo.,Ltd. | 5,000,000.00 | Shenzhen | Shenzhen | Serviceindustry | 100.00% | Businesscombinationunderthesamecontrol | |
| ShenzhenShenfubaoPropertyDevelopmentCo.,Ltd. | 15,000,000.00 | Shenzhen | Shenzhen | Realestate | 100.00% | Businesscombinationunderthesamecontrol | |
| ShenzhenFubaoUrbanResourcesManagementCo.,Ltd. | 5,000,000.00 | Shenzhen | Shenzhen | Serviceindustry | 60.00% | Businesscombinationunderthesamecontrol | |
| ShenzhenShenfubaoHydropowerMunicipalServiceCo.,Ltd. | 10,000,000.00 | Shenzhen | Shenzhen | Realestate | 100.00% | Businesscombinationunderthesamecontrol | |
| ShenzhenFreeTradeZoneSecurityServiceCo.,Ltd. | 2,000,000.00 | Shenzhen | Shenzhen | Realestate | 100.00% | Businesscombinationunderthesamecontrol | |
| ShenzhenWuheUrbanRenewalCo.,Ltd. | 195,000,000.00 | Shenzhen | Shenzhen | Realestate | 100.00% | Set-up | |
| YangzhouWuheRealEstateCo.,Ltd. | 50,000,000.00 | Yangzhou | Yangzhou | Realestate | 67.00% | Set-up | |
| ShenzhenTongluWuheInvestmentDevelopmentCo.,Ltd. | 10,000,000.00 | Shenzhen | Shenzhen | Realestate | 100.00% | Set-up | |
| ShenzhenInternationalTradeIndustrySpaceServiceCo.,Ltd. | 2,800,000.00 | Shenzhen | Shenzhen | Realestate | 55.00% | Set-up |
Unit:RMBNotesofshareholdingpercentageinsubsidiariesdifferentfromvotingpercentage:
InMay2021,ShenzhenWuheIndustryInvestmentDevelopmentCo.,Ltd.(hereinafterreferredtoas"WuheCompany"),asubsidiaryoftheCompany,acquired35%oftheequityofShenzhenFacilityManagementCommunityTechnologyCo.,Ltd.(hereinafterreferredtoas"FMC")throughacquisitionofequityanddirectionalcapitalincrease.Meanwhile,accordingtotheagreementofthecooperationframeworkonequityacquisitionsignedbyWuheCompanyandtheoriginalshareholders,16%ofthevotingrightsthattheoriginalshareholdersholdoractuallycontrolintheequityofFMCshallbeunconditionallygrantedtoWuheCompanytoexerciseafterthetransactiondate.Therearenoprerequisitesforthegrantingofvotingrights,andthetermofthevotingrightsisnotstipulatedinthecontract.Basisofholdinghalforlessvotingrightsbutstillcontrollingtheinvesteeandholdingmorethanhalfofthevotingrightsbutnotcontrollingtheinvestee:
Basisofcontrollingsignificantstructuralentitiesincorporatedinthescopeofcombination:
BasisofdeterminingwhethertheCompanyistheagentorthemandatory:
Othernotes:
(2)SignificantNon-wholly-ownedSubsidiary
Unit:RMB
| Nameofsubsidiaries | Shareholdingproportionofnon-controllinginterests | Theprofitorlossattributabletothenon-controllinginterestsforthecurrentperiod | Declaringdividendsdistributedtonon-controllinginterestsforthecurrentperiod | Balanceofnon-controllinginterestsattheperiod-end |
| ShenzhenRongyaoRealEstateDevelopmentCo.,Ltd. | 31.00% | -11,728,370.67 | -7,166,774.26 | |
| YangzhouWuheRealEstateCo.,Ltd. | 33.00% | -10,467,489.08 | 5,111,280.10 |
Holdingproportionofnon-controllinginterestsinsubsidiarydifferentfromvotingproportion:
Othernotes:
(3)TheMainFinancialInformationofSignificantNotWholly-ownedSubsidiary
Unit:RMB
| Nameofsubsidiaries | Endingbalance | Beginningbalance | ||||||||||
| Currentassets | Non-currentassets | Totalassets | Currentliabilities | Non-currentliabilities | Totalliabilities | Currentassets | Non-currentassets | Totalassets | Currentliabilities | Non-currentliabilities | Totalliabilities | |
| ShenzhenRongyaoRealEstateDevelopmentCo.,Ltd. | 6,104,831,530.55 | 161,894,251.74 | 6,266,725,782.29 | 3,217,495,278.38 | 3,072,349,130.56 | 6,289,844,408.94 | 5,463,417,860.24 | 148,966,845.59 | 5,612,384,705.83 | 237,683,829.61 | 5,360,025,967.25 | 5,597,709,796.86 |
| YangzhouWuheRealEstateCo.,Ltd. | 1,291,359,823.31 | 3,086,583.61 | 1,294,446,406.92 | 1,278,957,679.33 | 1,278,957,679.33 | 1,003,117,568.27 | 923,562.28 | 1,004,041,130.55 | 956,832,739.09 | 956,832,739.09 | ||
Unit:RMB
| Nameofsubsidiaries | Amountforthecurrentperiod | Amountforthepreviousperiod | ||||||
| OperatingRevenue | Netprofit | Totalcomprehensiveincome | Cashflowsfromoperatingactivities | OperatingRevenue | Netprofit | Totalcomprehensiveincome | Cashflowsfromoperatingactivities | |
| ShenzhenRongyaoRealEstateDevelopmentCo.,Ltd. | -37,833,453.79 | -37,833,453.79 | -535,294,796.10 | -41,751,240.79 | -41,751,240.79 | -313,044,955.93 | ||
| YangzhouWuheRealEstateCo.,Ltd. | -31,719,663.87 | -31,719,663.87 | -43,688,784.15 | -2,791,608.54 | -2,791,608.54 | -716,033.23 | ||
Othernotes:
(4)Significantrestrictionsonleveragingtheassetsandliquidatingtheliabilitiesofthebusinessconsortium
(5)FinancialsupportorothersupportprovidedtostructuralentitiesincorporatedintothescopeofconsolidatedfinancialstatementsOthernotes:
2.TheTransactionoftheCompanywithItsOwner'sEquityShareChangingbuttheCompanyStillControlstheSubsidiary
(1)NotetotheOwner'sEquityShareChangedinSubsidiary
(2)TheTransaction’sInfluenceontheEquityofNon-controllingInterestsandtheOwner'sEquityAttributabletotheCompanyastheParent
Unit:RMB
| Purchasecost/disposalconsideration |
| -Cash |
| -Fairvalueofnon-cashassets |
Totalpurchasecost/disposalconsideration
| Totalpurchasecost/disposalconsideration |
| Less:Shareofnetassetsofsubsidiariesbasedonpercentageofequityacquired/disposedof |
| Difference |
| Ofwhich:Adjustingcapitalreserve |
| Adjustingsurplusreserve |
| Adjustingretainedprofits |
Othernotes:
3.EquityinJointVenturesorAssociatedEnterprises
(1)SignificantJointVenturesorAssociatedEnterprises
| Name | Mainoperatingplace | Placeofregistration | Businessnature | Shareholdingpercentage(%) | Accountingtreatmentoftheinvestmenttojointventureorassociatedenterprise | |
| Directly | Indirectly | |||||
| ShenzhenRealEstateJifaWarehousingCo.,Ltd. | Shenzhen | Shenzhen | Warehouseservice | 25.00% | 25.00% | Equitymethod |
| Tian’anInternationalBuildingPropertyManagementCompanyofShenzhen | Shenzhen | Shenzhen | Propertymanagement | 50.00% | Equitymethod | |
| CSCECIntelligentParkingTechnologyCo., | Shenzhen | Shenzhen | Commercialservices | 10.00% | Equitymethod | |
Notestoholdingproportionofjointventureorassociatedenterprisedifferentfromvotingproportion:
Basisofholdinglessthan20%ofthevotingrightsbuthasasignificantimpactorholding20%ormorevotingrightsbutdoesnothaveasignificantimpact:
(2)MainFinancialInformationofSignificantJointVentures
Unit:RMB
Ltd.Closingbalance/amountofthecurrentperiod
| Closingbalance/amountofthecurrentperiod | Openingbalance/amountofthepreviousperiod | |||
| ShenzhenJifaWarehouseCo.,Ltd. | Tian’anInternationalBuildingPropertyManagementCompanyofShenzhen | ShenzhenJifaWarehouseCo.,Ltd. | Tian’anInternationalBuildingPropertyManagementCompanyofShenzhen | |
| Currentassets | 13,949,127.78 | 59,553,501.09 | 6,110,801.95 | 58,848,700.91 |
| Ofwhich:Cashandcashequivalents | 11,574,044.52 | 38,464,410.56 | 4,923,260.32 | 37,841,255.88 |
| Non-currentassets | 85,381,409.08 | 42,101.51 | 86,342,531.70 | 46,757.57 |
| Totalassets | 99,330,536.86 | 59,595,602.60 | 92,453,333.65 | 58,895,458.48 |
| Currentliabilities | 3,198,899.85 | 28,927,454.58 | 2,992,163.07 | 28,404,537.12 |
| Non-currentliabilities | 16,566,273.37 | 16,415,016.74 | ||
| Totalliabilities | 3,198,899.85 | 45,493,727.95 | 2,992,163.07 | 44,819,553.86 |
| Equityofnon-controllinginterests | ||||
| EquityattributabletoshareholdersoftheCompanyastheparent | 96,131,637.01 | 14,101,874.65 | 89,461,170.58 | 14,075,904.62 |
| Netassetssharescalculatedattheshareholdingproportion | 48,065,818.51 | 7,050,937.33 | 44,730,585.29 | 7,037,952.31 |
| Adjusteditems | ||||
| -Goodwill | ||||
| --Unrealizedprofitofintra-companytransaction | ||||
| --Other | ||||
| Carryingvalueofequityinvestmenttojointventures | 48,065,818.51 | 7,050,937.33 | 44,730,585.29 | 7,037,952.31 |
| Fairvaluesofequityinvestmentsofjointventureswithquotedprices | ||||
| OperatingRevenue | 13,401,998.52 | 15,353,082.93 | 7,991,120.67 | 17,348,456.03 |
| Financialexpenses | -17,937.34 | -473,753.01 | -10,286.81 | -369,996.65 |
| Incometaxexpense | 2,225,102.81 | 9,505.10 | 810,230.79 | 136,495.54 |
| Netprofit | 6,670,466.43 | 2,780.71 | 2,427,840.35 | 387,872.11 |
| Netprofitfromdiscontinuedoperations | ||||
| Othercomprehensiveincome | ||||
| Totalcomprehensiveincome | 6,670,466.43 | 2,780.71 | 2,427,840.35 | 387,872.11 |
Othernotes:
(3)MainFinancialInformationofSignificantAssociatedEnterprises
Unit:RMB
DividendsreceivedfromthejointventureinthecurrentperiodClosingbalance/amountofthecurrent
period
| Closingbalance/amountofthecurrentperiod | Openingbalance/amountofthepreviousperiod | |
| CSCEC | CSCEC | |
| Currentassets | 256,074,109.31 | 235,089,462.02 |
| Non-currentassets | 11,617,792.09 | 3,014,735.77 |
| Totalassets | 267,691,901.40 | 238,104,197.79 |
| Currentliabilities | 95,957,288.78 | 77,308,723.18 |
| Non-currentliabilities | 486,565.88 | 24,777.90 |
| Totalliabilities | 96,443,854.66 | 77,333,501.08 |
Equityofnon-controllinginterests
| Equityofnon-controllinginterests | ||
| EquityattributabletoshareholdersoftheCompanyastheparent | 171,248,046.74 | 160,770,696.71 |
| Netassetssharescalculatedattheshareholdingproportion | 17,124,804.67 | 16,077,069.67 |
| Adjusteditems | ||
| -Goodwill | ||
| --Unrealizedprofitofintra-companytransaction | ||
| --Other | ||
| Carryingvalueofinvestmenttoassociatedenterprises | 28,940,994.71 | 28,012,899.71 |
| Fairvalueofequityinvestmentsinassociatedenterpriseswithpubliclyquotedprices | ||
| OperatingRevenue | 200,994,767.06 | 169,285,776.61 |
| Netprofit | 9,912,150.03 | 6,326,055.81 |
| Netprofitfromdiscontinuedoperations | ||
| Othercomprehensiveincome | ||
| Totalcomprehensiveincome | 9,912,150.03 | 6,326,055.81 |
Dividendsreceivedfromtheassociatesinthecurrentperiod
| Dividendsreceivedfromtheassociatesinthecurrentperiod | 63,120.00 |
Othernotes:
(4)SummaryFinancialInformationofInsignificantJointVenturesorAssociatedEnterprises
Unit:RMB
| Closingbalance/amountofthecurrentperiod | Openingbalance/amountofthepreviousperiod | |
| Jointventure: | ||
| Sumcalculatedbyshareholdingratioofeachitem | ||
| Associatedenterprises: | ||
| Sumcalculatedbyshareholdingratioofeachitem |
Othernotes:
(5)NotetotheSignificantRestrictionsontheAbilityofJointVenturesorAssociatedEnterprisestoTransferFundstotheCompany
(6)TheExcessLossofJointVenturesorAssociatedEnterprises
Unit:RMB
| Name | Thecumulativerecognizedlossesinpreviousaccumulativelyderecognized | Thederecognizedlosses(ortheshareofnetprofit)incurrentperiod | Theaccumulativeunrecognizedlossesincurrentperiod |
Othernotes:
(7)TheUnrecognizedCommitmentRelatedtoInvestmenttoJointVentures
(8)ContingentLiabilitiesRelatedtoInvestmenttoJointVenturesorAssociatedEnterprises
4.SignificantCommonOperation
| Name | Mainoperatingplace | Placeofregistration | Businessnature | Proportion/Shareportion | |
| Directly | Indirectly | ||||
Notestoholdingproportionorshareportionincommonoperationdifferentfromvotingproportion:
Forcommonoperationasasingleentity,basisofclassifyingascommonoperationOthernotes:
5.EquityintheStructuredEntityExcludedintheScopeofConsolidatedFinancialStatements
Notestothestructuredentityexcludedinthescopeofconsolidatedfinancialstatements:
6.Other
XI.GovernmentGrants
1.GovernmentGrantsRecognizedattheEndoftheReportingPeriodattheAmountReceivable
□Applicable?NotapplicableReasonsforfailingtoreceivegovernmentgrantsintheestimatedamountattheestimatedpointintime
□Applicable?Notapplicable
2.LiabilityItemsInvolvingGovernmentGrants
□Applicable?Notapplicable
3.GovernmentGrantsRecognizedasCurrentProfitorLoss?Applicable□Notapplicable
Unit:RMB
| Accountingitems | Amountforthecurrentperiod | Amountforthepreviousperiod |
| Otherincome | 7,690,477.21 | 10,637,742.42 |
Othernotes:
XII.RisksAssociatedwithFinancialInstruments
1.VariousTypesofRisksArisingfromFinancialInstrumentsTheCompanyisengagedinriskmanagementtoachievebalancebetweenrisksandreturns,minimizingthenegativeeffectsofrisksonitsoperationperformanceandmaximizingtheinterestsofitsshareholdersandotherequityinvestors.Basedonthatriskmanagementgoal,thefundamentalstrategyofitsriskmanagementistoidentifyandanalyzevariousrisksfacingtheCompany,establishanappropriateriskbottomline,carryoutriskmanagementandmonitorvariousrisksinatimelyandreliablemannertocontrolthemwithinarestrictedscope.TheCompanyfacesvariousrisksrelatedtofinancialinstrumentsinitsroutineactivities,mainlyincludingcreditrisk,liquidityriskmarketrisk.Themanagementhasreviewedandapprovedthepoliciesofmanagingthoserisks,whicharesummarizedasfollows:
i.RisksfromFinancialInstruments
1.ClassificationofFinancialInstruments
(1)TheCarryingValueofFinancialAssetsontheBalanceSheetDate①1December2023
| Item | Financialassetsmeasuredatamortizedcost | Financialassetsatfairvaluethroughprofitorloss | Financialassetsatfairvalueandchangesincludedinothercomprehensiveincome | Total |
| Monetarycapital | 2,748,798,476.72 | 2,748,798,476.72 | ||
| Accountsreceivable | 506,088,217.25 | 506,088,217.25 | ||
| Otherreceivables | 624,394,372.82 | 624,394,372.82 | ||
| Otherequityinstrumentinvestments | 636,926.20 | 636,926.20 |
②31December2022
| Item | Financialassetsmeasuredatamortizedcost | Financialassetsatfairvaluethroughprofitorloss | Financialassetsatfairvalueandchangesincludedinothercomprehensiveincome | Total |
| Item | Financialassetsmeasuredatamortizedcost | Financialassetsatfairvaluethroughprofitorloss | Financialassetsatfairvalueandchangesincludedinothercomprehensiveincome | Total |
| Monetarycapital | 1,517,528,893.83 | 1,517,528,893.83 | ||
| Accountsreceivable | 419,933,915.30 | 419,933,915.30 | ||
| Otherreceivables | 639,903,523.33 | 639,903,523.33 | ||
| Long-termreceivables | 22,651,454.07 | 22,651,454.07 | ||
| Otherequityinstrumentinvestments | 887,838.64 | 887,838.64 |
2.TheCarryingValueofFinancialLiabilitiesontheBalanceSheetDate
①1December2023
| Item | Financialliabilitiesatfairvaluethroughprofitorloss | Otherfinancialliabilities | Total |
| Short-termloan | 230,915,000.00 | 230,915,000.00 | |
| Accountspayable | 662,869,059.59 | 662,869,059.59 | |
| Otherpayables | 1,217,303,294.24 | 1,217,303,294.24 | |
| Currentportionofnon-currentliabilities | 3,092,324,853.07 | 3,092,324,853.07 | |
| Long-termborrowings | 1,399,889,274.47 | 1,399,889,274.47 | |
| Leaseliabilities | 10,571,092.27 | 10,571,092.27 | |
| Long-termaccountspayable | 400,105,655.56 | 400,105,655.56 |
②31December2022
| Item | Financialliabilitiesatfairvaluethroughprofitorloss | Otherfinancialliabilities | Total |
| Short-termloan | |||
| Accountspayable | 608,283,388.52 | 608,283,388.52 | |
| Otherpayables | 1,515,085,832.45 | 1,515,085,832.45 | |
| Currentportionofnon-currentliabilities | 218,858,766.82 | 218,858,766.82 | |
| Long-termborrowings | 3,618,782,344.00 | 3,618,782,344.00 | |
| Leaseliabilities | 77,963,283.55 | 77,963,283.55 |
2.CreditRiskCreditriskmeanstheriskoffinanciallossesincurredtotheotherpartywhenonepartyofafinancialinstrumentisunabletofulfillitsobligations.
1.CreditRiskManagementPractice
(1)CreditRiskEvaluationMethod
Oneachbalancesheetdate,theCompanyshallevaluatewhetherthecreditriskofrelevantfinancialinstrumentshasincreasedsignificantlysincetheinitialrecognition.Afterdeterminingwhetherthecreditriskhasincreasedsignificantlysincetheinitialrecognition,theCompanyshallconsiderobtainingreasonableandreliableinformationwithoutpayingunnecessaryextracostsorefforts,includingqualitativeandquantitativeanalysisbasedonhistoricaldata,externalcreditriskratingandforward-lookinginformation.Onthebasisofthesinglefinancialinstrumentorcombinationoffinancialinstrumentswithsimilarcreditriskcharacteristics,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)Qualitativecriteriaa.Thedebtorhasmajorfinancialdifficulties;b.Thedebtorviolatesthebindingprovisionsonthedebtorinthecontract;c.Thedebtorislikelytogobankruptorcarryoutotherfinancialrestructurings;d.Thecreditorshallgivethedebtorconcessionsthatwillnotbemadeinanyothercircumstancesduetotheeconomicorcontractualconsiderationsrelatedtothedebtor’sfinancialdifficulties.
2.MeasurementofExpectedCreditLossThekeyparametersformeasuringexpectedcreditlossincludeddefaultprobability,lossgivendefaultandexposureatdefault.TheCompanyconsidersthequantitativeanalysisandforward-lookinginformationofhistoricalstatisticaldata(suchascounterpartyrating,guaranteemethod,collateraltype,repaymentmethod,etc.)toestablishexposuremodelsofdefaultprobability,lossgivendefault,anddefaultrisk.
3.RefertoNoteVII-1,VII-2,VII-7forDetailsoftheReconciliationStatementsofBeginningBalanceandEndingBalanceofFinancialInstrumentLossProvision.
4.CreditRiskExposureandCreditRiskConcentrationTheCompany’screditriskmainlycomesfrommonetaryassetsandaccountsreceivable.Tocontroltheaforementionedrelevantrisks,theCompanyhasadoptedthefollowingmeasures.
(1)MonetaryAssetsTheCompanyplacesitsmonetaryassetswithfinancialinstitutionsofhighcreditratings.Thus,itscreditriskislow.
(2)AccountsReceivableTheCompanyconductscreditassessmentsonthecustomerstradinginthemodeofcreditonaregularbasis.Basedonthecreditassessmentresult,theCompanychoosestotradewithrecognizedcustomerswithgoodcreditandmonitorthebalanceoftheaccountsreceivablefromthemtoensurethattheCompanywillnotfaceanysignificantbaddebtrisk.DuetotheCompanymerelytradeswiththeauthorizedthirdpartywithgoodcredit,theguaranteeisnotrequired.Creditriskconcentrationismanagedinaccordancewiththecustomers.Asof31December2021,therewerecertaincreditconcentrationrisksintheCompany,and59.45%oftheaccountsreceivableoftheCompany(54.09%on31December2022)camefromthetop5customersbybalance.TheCompanyhasn’theldanyguaranteeorothercreditenhancementforbalanceofaccountsreceivable.ThemaximumcreditriskexposuretheCompanyundertookshallbethecarryingvalueofeachfinancialassetonbalancesheet.
3.LiquidityRisk
LiquidityriskreferstotheriskoffundshortageoccurringwhentheCompanyfulfillsthesettlementobligationinthemodeofcashdeliveryorotherfinancialassets.Liquidityriskmayoriginatefromthefailuretosellfinancialassetsatfairvalueassoonaspossible;orfromtheotherparty’sfailuretopayoffitscontractualdebts;orfromtheearliermaturityofdebts;orfromthefailuretogeneratetheexpectedcashflow.Tocontroltherisk,theCompanycomprehensivelyadoptsbankloansasfinancingapproach,appropriatelycombineslong-termandshort-termfinancingmodesandoptimizesthefinancingstructuretomaintainthebalancebetweenfinancingsustainabilityandflexibility.TheCompanyhasobtainedthelineofcreditfromanumberofcommercialbankstosatisfyitsoperationfundneedsandcapitalexpenditure.Theanalysisofthefinancialliabilitiesbasedonthematurityperiodoftheundiscountedcashflowisasfollows:
| Item | 31December2023 | ||||
| Carryingvalue | Undiscountedcontractamount | Within1year | 1-3years | Morethanthreeyears | |
| Bankingborrowings | 1,630,804,274.47 | 1,886,101,350.83 | 379,121,985.22 | 709,659,943.62 | 797,319,421.99 |
| Accountspayable | 662,869,059.59 | 662,869,059.59 | 662,869,059.59 | ||
| Otherpayables | 1,217,303,294.25 | 1,217,303,294.25 | 1,205,100,618.21 | 12,202,676.04 | |
| Currentportionofothernon-currentliabilities | 3,092,324,853.07 | 3,111,187,663.28 | 3,111,187,663.28 | ||
| Leaseliabilities | 10,571,092.27 | 15,904,640.37 | 7,730,396.15 | 8,174,244.22 | |
| Long-termaccountspayable | 400,105,655.56 | 480,600,833.30 | 18,293,137.50 | 41,277,444.45 | 421,030,251.35 |
| Total | 7,013,978,229.21 | 7,373,966,841.62 | 5,376,572,463.80 | 758,667,784.22 | 1,238,726,593.60 |
Continued:
| Item | December31,2022 | ||||
| Carryingvalue | Undiscountedcontractamount | Within1year | 1-3years | Morethanthreeyears | |
| Bankingborrowings | 3,618,782,344.00 | 3,998,835,011.38 | 190,669,039.72 | 3,648,297,102.30 | 159,868,869.36 |
| Accountspayable | 608,283,388.52 | 608,283,388.52 | 608,283,388.52 | ||
| Otherpayables | 1,515,085,832.45 | 1,515,085,832.45 | 1,502,883,156.41 | 12,202,676.04 | |
| Currentportionofothernon-currentliabilities | 218,858,766.82 | 223,385,608.63 | 223,385,608.63 | ||
| Leaseliabilities | 77,963,283.55 | 92,467,880.37 | 45,844,010.07 | 46,623,870.30 | |
| Total | 6,038,973,615.34 | 6,438,057,721.35 | 2,525,221,193.28 | 3,694,141,112.37 | 218,695,415.70 |
4.MarketRiskMarketriskreferstotheriskoffluctuationsinthefairvalueorfuturecashflowsoffinancialinstrumentsarisingfromchangesinmarketprices.Marketriskmainlyincludesinterestrateriskandforeignexchangerisk.
(1)InterestRateRiskInterestrateriskreferstotheriskoffluctuationsinthefairvalueorfuturecashflowsoffinancialinstrumentsarisingfromchangesinmarketinterestrates.Interest-bearingfinancialinstrumentswithfixedinterestratesmaybringthefairvalueinterestraterisktotheCompany,whilethosewithfloatinginterestratemaybringthecashflowinterestraterisktotheCompany.TheCompanywilldeterminetheproportionbetweenthefinancialinstrumentswithfixedinterestrateandthosewithfloatinginterestrateincombinationwithmarketenvironment,andmaintainanappropriateportfoliooffinancialinstrumentsthroughregularreviewand
monitoring.TheinterestrateriskofcashflowsfacingtheCompanyismainlyrelatedtothebankloanscalculatedbyfloatinginterestrateoftheCompany.Asof30June2023,undertheassumptionofotherfixedvariableswith50basispointschangedininterestrate,thebankloanofRMB4,470,302,598.47(RMB3,809,915,668.00on31December2022)calculatedatfloatingratewouldnotresultinsignificantinfluenceontotalprofitandshareholders’equityoftheCompany.
2.ForeignExchangeRiskForeignexchangeriskreferstotheriskthatmayleadtothechangesoffairvalueoffinancialinstrumentsorfuturecashflowsduetofluctuationinexchangerate.TheriskofchangesofexchangeratefacingtheCompanyismainlyrelatedtoforeigncurrencymonetaryassetsandliabilitiesoftheCompany.TheCompanyoperatesinmainlandChina,andthemainactivitiesarerecordedbyRMB.Thus,theforeignexchangemarketriskundertakenisinsignificantfortheCompany.FordetailsoftheCompany'sforeigncurrencymonetaryassetsandliabilitiesattheendoftheCurrentPeriod,pleaserefertoNoteVII-77intheCurrentReport.
2.Hedge
(1)TheCompanyCarriesoutHedgingBusinessforRiskManagement
□Applicable?Notapplicable
(2)TheCompanyConductsEligibleHedgingOperationsandAppliesHedgeAccounting
Unit:RMB
| Item | Carryingvaluerelatedtohedgeditemsandhedginginstruments | Cumulativefairvaluehedgeadjustmentofthehedgeditemincludedintherecognizedcarryingvalueofthehedgeditem | Hedgeeffectivenessandhedgeineffectivenesspartialsources | ImpactofhedgeaccountingontheCompany'sfinancialstatements |
| Typesofhedgerisk | ||||
| Typesofhedge | ||||
Othernotes:
(3)TheCompanyConductsHedgingOperationsforRiskManagement,ExpectstoAchieveItsRiskManagementObjectives,butDoesNotApplyHedgeAccounting
□Applicable?Notapplicable
3.FinancialAssets
(1)ClassificationofTransferMethods
□Applicable?Notapplicable
(2)FinancialAssetsDerecognizedduetoTransfer
□Applicable?Notapplicable
(3)ContinuedInvolvementintheTransferofAssetsFinancialAssets
□Applicable?NotapplicableOthernotes:
XIII.TheDisclosureofFairValue
1.EndingFairValueofAssetsandLiabilitiesatFairValue
Unit:RMB
| Item | Closingfairvalue | |||
| Fairvaluemeasurementitemsatlevel1 | Fairvaluemeasurementitemsatlevel2 | Fairvaluemeasurementitemsatlevel3 | Total | |
| I.ConsistentFairValueMeasurement | -- | -- | -- | -- |
| (III)Otherequityinstrumentinvestment | 636,926.20 | 636,926.20 | ||
| Thetotalamountofassetsconsistentlymeasuredatfairvalue | 636,926.20 | 636,926.20 | ||
| II.InconsistentFairValueMeasurement | -- | -- | -- | -- |
2.BasisforDeterminingtheMarketPriceofContinuousandNon-continuousLevel1FairValueMeasurementItems
3.ContinuousandNon-continuousLevel2FairValueMeasurementItems,ValuationTechniquesUsed,andTheQualitativeandQuantitativeInformationofImportantParameters
4.ContinuousandNon-continuousLevel3FairValueMeasurementItems,ValuationTechniquesUsed,andTheQualitativeandQuantitativeInformationofImportantParameters
5.ContinuousandNon-continuousLevel3FairValueMeasurementItems,InformationOnTheAdjustmentBetweenTheOpeningandClosingCarryingValue,andSensitivityAnalysisofUnobservableParameters
6.ExplaintheReasonforConversionandtheGoverningPolicywhentheConversionHappensifConversionHappensamongConsistentFairValueMeasurementItemsatDifferentLevels
7.ChangesintheValuationTechniqueintheCurrentPeriodandtheReasonforSuchChanges
8.TheFairValueofFinancialAssetsandFinancialLiabilitiesnotMeasuredatFairValue
9.Others
XIV.RelatedPartyandRelated-partyTransactions
1.InformationRelatedtotheCompanyastheParentoftheCompany
| NameoftheCompanyastheparent | Placeofregistration | Businessnature | Registeredcapital | ProportionofshareheldbytheCompanyastheparentagainsttheCompany(%) | ProportionofvotingrightsownedbytheCompanyastheparentagainsttheCompany(%) |
| ShenzhenInvestmentHoldingsCo.,Ltd. | Shenzhen | Limitedliabilitycompany(solely-ownedbythestate) | 32,359,000,000.00 | 56.96% | 56.96% |
Notes:InformationontheCompanyastheparent
(1)TheparentcompanyoftheCompanyisShenzhenInvestmentHoldingsCo.,Ltd.(hereinafterreferredtoas“SIHC”),anewly-establishedandorganizedstate-ownedcapitalinvestmentcompanybasedontheoriginalthreestate-ownedassetsmanagementcompaniesinOctober2004,anditsmainfunctionistomanagethepartialmunicipalstate-ownedcompaniesaccordingtothe
authorizationofMunicipalSASAC.Asagovernmentdepartment,ShenzhenState-ownedAssetsSupervisionandAdministrationBureaumanagesShenzhenInvestmentHoldingsCo.,Ltd.onbehalfofPeople’sGovernmentofShenzhenMunicipality.
(2)In2021,SIHC,thecontrollingshareholderoftheCompany,transferred38,037,890ordinarysharesoftheCompanyinunlimitedcirculation(representing6.382%ofthetotalsharecapitaloftheCompany)heldbySIHCtoShenzhenState-ownedEquityManagementCo.,Ltd.forfreetoreplenishthesocialsecurityfunds.ShenzhenState-ownedEquityManagementCo.,Ltd.isanewlyestablishedwholly-ownedsubsidiaryofSIHCtomanagethetransferredstate-ownedequityinaspecialaccount.Aftertheregistrationofthefreetransfer,SIHCheld301,414,637sharesoftheCompany,accountingfor50.575%ofthetotalsharecapitaloftheCompany,andShenzhenState-ownedEquityManagementCo.,Ltd.held38,037,890sharesoftheCompany,accountingfor
6.382%ofthetotalsharecapitaloftheCompany.ThefinalcontrolleroftheCompanyisShenzhenState-ownedAssetsSupervisionandAdministrationCommitteeofShenzhenGovernment.Othernotes:
2.SubsidiariesoftheCompanyPleaserefertoNoteX-1fordetailsontheCompany’ssubsidiaries.
3.InformationontheJointVenturesandAssociatedEnterprisesoftheCompany
PleaserefertoNoteX-2fordetailsontheCompany’sjointventuresandassociatedenterprises.Informationonotherjointventureorassociatedenterpriseofoccurringrelated-partytransactionswiththeCompanyinCurrentPeriod,orformingbalanceduetorelated-partytransactionsmadeinpreviousperiod:
| Name | RelationshipwiththeCompany |
Othernotes:
4.InformationonOtherRelatedParties
| Nameofotherrelatedparty | RelationshipwiththeCompany |
| ShenzhenXinhaiHoldingCo.,Ltd. | TheCompanyastheparentofXinhaiRongyaoofsubsidiaryRongyaoRealEstatebynon-controllinginterests |
| ShenzhenXinhaiRongyaoRealEstateDevelopmentCo.,Ltd. | SubsidiaryRongyaoRealEstatebynon-controllinginterests |
| YangzhouLvfaRealEstateCo.,Ltd. | SubsidiaryYangzhouWuhebynon-controllinginterests |
| ShenzhenWufangCeramicsIndustrialCo.,Ltd. | AssociatedenterpriseoftheCompany |
| ShenzhenRealEstateJifaWarehousingCo.,Ltd. | JointventureoftheCompany |
| Tian’anInternationalBuildingPropertyManagementCompanyofShenzhen | JointventureoftheCompany |
| GuorenP&C | SubsidiaryoftheCompanyastheparentoftheCompany |
| ShenzhenGeneralInstituteofArchitecturalDesignandResearchCo.,Ltd. | Wholly-ownedsubsidiaryoftheCompanyastheparentoftheCompany |
| ShenzhenWaterPlanningandDesignInstituteCo.,Ltd. | SubsidiaryoftheCompanyastheparentoftheCompany |
| ShenzhenPeople'sCongressCadreTrainingCenter | Wholly-ownedsubsidiaryoftheCompanyastheparentoftheCompany |
| ShenzhenShenfubao(Group)Co.,Ltd. | Wholly-ownedsubsidiaryoftheCompanyastheparentoftheCompany |
| ShenzhenGuaranteeGroupCo.,Ltd. | SubsidiaryoftheCompanyastheparentoftheCompany |
| ChinaShenzhenForeignTrade(Group)Corp.Ltd. | Wholly-ownedsubsidiaryoftheCompanyastheparentoftheCompany |
| ShenzhenBayTechnologyDevelopmentCo.,Ltd. | Wholly-ownedsubsidiaryoftheCompanyastheparentoftheCompany |
| ShenZhenSpecialEconomicZoneRealEstate&Properties(Group)Co.,Ltd.anditsconsolidatedsubsidiaries,exceptwherethecontextotherwiserequires | SubsidiaryoftheCompanyastheparentoftheCompany |
| ShenzhenShentouPropertyDevelopmentCo.,Ltd. | Wholly-ownedsubsidiaryoftheCompanyastheparentoftheCompany |
| ShenzhenConvention&ExhibitionCenterManagementCo., | Wholly-ownedsubsidiaryoftheCompanyastheparentofthe |
| Ltd. | Company |
| ShenzhenShenzhenHongKongScienceandTechnologyInnovationCooperationZoneDevelopmentCo.,Ltd. | SubsidiaryoftheCompanyastheparentoftheCompany |
| ShenzhenTsinghuaUniversityResearchInstitute | SubsidiaryoftheCompanyastheparentoftheCompany |
| ShenzhenBayAreaUrbanConstructionandDevelopmentCo.,Ltd. | Wholly-ownedsubsidiaryoftheCompanyastheparentoftheCompany |
| ShenzhenInfinovaLimited | SubsidiaryoftheCompanyastheparentoftheCompany |
| ShenzhenConstructionDevelopment(Group)Company | SubsidiaryoftheCompanyastheparentoftheCompany |
| ShenzhenHi-techZoneInvestmentDevelopmentGroupCo.,Ltd. | SubsidiaryoftheCompanyastheparentoftheCompany |
| ShenzhenSportsCenterOperationManagementCo.,Ltd. | Wholly-ownedsubsidiaryoftheCompanyastheparentoftheCompany |
| ShenzhenXiangmihuInternationalExchangeCenterDevelopmentCo.,Ltd. | Wholly-ownedsubsidiaryoftheCompanyastheparentoftheCompany |
| ShenzhenEnvironmentalProtectionTechnologyGroupCo.,Ltd. | SubsidiaryoftheCompanyastheparentoftheCompany |
| ShenzhenTianjunIndustrialCo.,Ltd. | Parentcompany'ssub-subsidiary |
| ShenzhenCulturalBusinessDevelopmentCo.,Ltd. | Wholly-ownedsub-subsidiaryoftheCompanyastheparentoftheCompany |
| ShenzhenMeibainianGarmentCo.,Ltd. | Wholly-ownedsub-subsidiaryoftheCompanyastheparentoftheCompany |
| ShenzhenGuohuiIndustryCo.,Ltd. | Parentcompany'ssub-subsidiary |
| ShenZHENLightIndustrialProductsIMP.&EXP.Co.,Ltd. | Wholly-ownedsub-subsidiaryoftheCompanyastheparentoftheCompany |
| ShenzhenTalentRecruitmentInternationalCo.,Ltd. | Wholly-ownedsub-subsidiaryoftheCompanyastheparentoftheCompany |
| ShenzhenShendanZengxinFinancingGuaranteeCo.,Ltd. | Parentcompany'ssub-subsidiary |
| ShenzhenYitongDigitalTechnologyInnovationDevelopmentCo.,Ltd. | Parentcompany'ssub-subsidiary |
| ShenzhenForeignServiceGroupCo.,Ltd. | Wholly-ownedsub-subsidiaryoftheCompanyastheparentoftheCompany |
| ShenzhenSDGServiceCo.,Ltd. | Parentcompany'ssub-subsidiary |
| ShenzhenInvestmentBuildingHotelCo.,Ltd. | Wholly-ownedsub-subsidiaryoftheCompanyastheparentoftheCompany |
| ShenzhenInfinovaSmartParkTechnologyCo.,Ltd. | Wholly-ownedsub-subsidiaryoftheCompanyastheparentoftheCompany |
| ShenzhenShantouSpecialCooperationZoneBranchofShenzhenWaterPlanningandDesignInstituteCo.,Ltd. | Wholly-ownedsub-subsidiaryoftheCompanyastheparentoftheCompany |
| ChinaKunpengIndustrySourceInnovationCenter(Shenzhen)Co.,Ltd. | Wholly-ownedsub-subsidiaryoftheCompanyastheparentoftheCompany |
| ShenzhenSpecialZoneLiteratureMagazineCo.,Ltd. | Wholly-ownedsub-subsidiaryoftheCompanyastheparentoftheCompany |
| ShenzhenShenyueUnitedInvestmentCo.,Ltd. | Wholly-ownedsub-subsidiaryoftheCompanyastheparentoftheCompany |
| ShenzhenShenzhenHongKongScienceandTechnologyInnovationParkOperationDevelopmentCo.,Ltd. | Parentcompany'ssub-subsidiary |
| ShenzhenChuangkeDevelopmentCo.,Ltd. | Parentcompany'ssub-subsidiary |
| ShenzhenHi-techZoneDevelopmentConstructionCo.,Ltd. | Wholly-ownedsub-subsidiaryoftheCompanyastheparentoftheCompany |
| ShenzhenInvestmentHoldingsDevelopmentCo.,Ltd. | Parentcompany'ssub-subsidiary |
| ShenzhenBay(Baoding)InnovationDevelopmentCo.,Ltd. | Wholly-ownedsub-subsidiaryoftheCompanyastheparentoftheCompany |
| ShenzhenBayAreaInternationalHotelCo.,Ltd. | Wholly-ownedsub-subsidiaryoftheCompanyastheparentoftheCompany |
| ShenzhenSMEVentureCapitalCo.,Ltd. | Wholly-ownedsub-subsidiaryoftheCompanyastheparentoftheCompany |
| ShenzhenShenfubaoEasternInvestmentDevelopmentCo.,Ltd. | Wholly-ownedsub-subsidiaryoftheCompanyastheparentoftheCompany |
| ShenzhenFubaoIndustrialParkOperationCo.,Ltd. | Wholly-ownedsub-subsidiaryoftheCompanyastheparentoftheCompany |
| ShenzhenLargeIndustrialZone(ShenzhenExportProcessingZone)DevelopmentManagementGroupCo.,Ltd. | Wholly-ownedsub-subsidiaryoftheCompanyastheparentoftheCompany |
| ShenzhenShenfubao(Group)TianjinInvestmentDevelopmentCo.,Ltd. | Wholly-ownedsub-subsidiaryoftheCompanyastheparentoftheCompany |
| ShenzhenShenfubao(Group)TianjinIndustrialDevelopmentCo.,Ltd. | Wholly-ownedsub-subsidiaryoftheCompanyastheparentoftheCompany |
| ShenzhenUrbanConstructionMingyuanIndustrialCo.,Ltd. | Parentcompany'ssub-subsidiary |
| ShenzhenEnvironmentEngineeringTechnologyCenterCo.,Ltd. | Parentcompany'ssub-subsidiary |
| ShenzhenTransportationStationDevelopmentCo.,Ltd. | Wholly-ownedsub-subsidiaryoftheCompanyastheparentoftheCompany |
| ShenzhenFreeTradeZoneLifeServiceCo.,Ltd. | Parentcompany'ssub-subsidiary |
| ShenzhenInfinovaRenyongInformationCo.,Ltd. | Wholly-ownedsub-subsidiaryoftheCompanyastheparentoftheCompany |
| ShenzhenRuleofLawTrainingCenter | Wholly-ownedsub-subsidiaryoftheCompanyastheparentoftheCompany |
| ShenzhenSouthCertificationCo.,Ltd. | Parentcompany'ssub-subsidiary |
| ShenzhenXingyeLogisticsCo.,Ltd. | Parentcompany'ssub-subsidiary |
| ShenzhenBayWanliHotelBranchofShenzhenWuzhouHotelManagementCo.,Ltd. | Wholly-ownedsub-subsidiaryoftheCompanyastheparentoftheCompany |
| ShenzhenBayWanyiHotelBranchofShenzhenWuzhouHotelManagementCo.,Ltd. | Wholly-ownedsub-subsidiaryoftheCompanyastheparentoftheCompany |
| ShenzhenXingyeXingfaClothingManufacturingCo.,Ltd. | Wholly-ownedsub-subsidiaryoftheCompanyastheparentoftheCompany |
| HebeiShenbaoInvestmentDevelopmentCo.,Ltd. | Parentcompany'ssub-subsidiary |
| ShenzhenTotalLogisticsServiceCo.,Ltd. | Parentcompany'ssub-subsidiary |
| ShenzhenTianjunBiotechnologyDevelopmentCo.,Ltd. | Parentcompany'ssub-subsidiary |
| ShenzhenEnvironmentalProtectionTechnologyGroupCo.,Ltd. | SubsidiaryoftheCompanyastheparentoftheCompany |
| ShenzhenEnvironmentalEngineeringScienceandTechnologyCenterCo.,Ltd. | Parentcompany'ssub-subsidiary |
| ShenzhenCityConstructionIndustrialParkDevelopmentCo.,Ltd | Parentcompany'ssub-subsidiary |
| ChengduZunxiLandCo.,Ltd. | Parentcompany'ssub-subsidiary |
| ShenzhenChenglongRealEstateDevelopmentCo.,Ltd. | Parentcompany'ssub-subsidiary |
| ShenzhenShenzhenShantouSpecialCooperationZoneSIHCInvestmentDevelopmentCo.,Ltd. | Wholly-ownedsubsidiaryoftheCompanyastheparentoftheCompany |
| DongguanSIHCInvestmentDevelopmentCo.,Ltd. | Parentcompany'ssub-subsidiary |
| ShenzhenBinjiangIndustryCo.,Ltd. | Parentcompany'ssub-subsidiary |
Othernotes:
5.ListofRelated-partyTransactions
(1)InformationonAcquisitionofGoodsandReceptionofLaborService
Informationonacquisitionofgoodsandreceptionoflaborservice
Unit:RMB
| Relatedparties | Contentoftherelated-partytransaction | Amountforthecurrentperiod | Theapprovaltradecredit | Whetherexceedtradecreditornot | Amountforthepreviousperiod |
| GuorenP&C | Insurance | 4,005,407.26 | 2,582,000.00 | Yes | 3,296,379.71 |
| ShenzhenGuaranteeGroupCo.,Ltd. | Guaranteefee | 26,548.11 | |||
| ShenZhenSpecialEconomicZoneRealEstate&Properties(Group)Co.,Ltd.anditsconsolidated | Managementservicefee | 4,731,334.42 | 4,026,979.11 |
| subsidiaries,exceptwherethecontextotherwiserequires | |||||
| ShenZHENLightIndustrialProductsIMP.&EXP.Co.,Ltd. | Cateringservice | 50,477.89 | |||
| ShenzhenPeople'sCongressCadreTrainingCenter | Trainingfee | 1,780.00 | |||
| ShenzhenForeignServiceGroupCo.,Ltd. | Outsourcingservicecharges | 9,312,805.11 | |||
| ShenzhenRuleofLawTrainingCenter | Trainingfee | 185,019.48 | |||
| ShenzhenGuohuiIndustryCo.,Ltd. | Cateringservice | 45,600.00 | |||
| ShenzhenGeneralInstituteofArchitecturalDesignandResearchCo.,Ltd. | Projectarchitecturaldesignservice | 8,940,492.75 | 8,161,599.83 | ||
| ShenzhenMeibainianGarmentCo.,Ltd. | Apparelprocurement | 402,743.64 | |||
| ShenzhenSouthCertificationCo.,Ltd. | Certificationfees | 24,528.30 | |||
| ShenzhenShendanZengxinFinancingGuaranteeCo.,Ltd. | Guaranteefee | 793,950.00 | |||
| ShenzhenShenfubao(Group)Co.,Ltd. | Cateringservice | 200,535.00 | 210,975.00 | ||
| ShenzhenWaterPlanningandDesignInstituteCo.,Ltd. | Consultantserviceexpense | 13,331.00 | 113,320.00 | ||
| ShenzhenSDGServiceCo.,Ltd. | Propertyservicefee | 294,540.95 | 465,715.62 | ||
| ShenzhenCulturalBusinessDevelopmentCo.,Ltd. | Activityfees | 175,633.75 | |||
| ShenzhenYitongDigitalTechnologyInnovationDevelopmentCo.,Ltd. | Cateringservice | 8,982.00 | |||
| ShenzhenTianjunIndustrialCo.,Ltd. | Demolitioncompensation | 27,000,000.00 | |||
| ShenzhenTianjunIndustrialCo.,Ltd. | Plantmaintenanceservices | 56,613.20 | |||
| ShenzhenBayTechnologyDevelopmentCo.,Ltd. | Managementservicefee | 62,480,975.10 | 81,600,000.00 | No | 86,518,273.32 |
| ShenzhenInfinovaRenyongInformationCo.,Ltd. | Intelligentengineeringexpense | 384,103.84 | |||
| ChinaShenzhenForeignTrade(Group)Corp.Ltd. | Managementservicefee | 305,550.31 | |||
| ShenzhenTianjunBiotechnologyDevelopmentCo., | Plantmaintenanceservices | 107,161.34 |
| Ltd. | ||
| ShenzhenEnvironmentalProtectionTechnologyGroupCo.,Ltd. | Feesforenvironmentalservices | 385,580.19 |
| ShenzhenEnvironmentalEngineeringScienceandTechnologyCenterCo.,Ltd. | Feesforenvironmentalservices | 111,005.66 |
Informationofsalesofgoodsandprovisionoflaborservice
Unit:RMB
| Relatedparties | Contentoftherelated-partytransaction | Amountforthecurrentperiod | Amountforthepreviousperiod |
| GuorenP&C | Propertyservicefee | 347,629.57 | 365,485.39 |
| HebeiShenbaoInvestmentDevelopmentCo.,Ltd. | Projectpayment | 26,970,736.12 | 20,874,664.05 |
| HebeiShenbaoInvestmentDevelopmentCo.,Ltd. | Propertyservicefee | 13,195,908.87 | 10,585,122.24 |
| ChinaKunpengIndustrySourceInnovationCenter(Shenzhen)Co.,Ltd. | Propertyservicefee | 1,381,929.74 | |
| ShenyueUnitedInvestmentCo.,Ltd. | Propertyservicefee | 2,900,927.45 | 2,429,042.80 |
| ShenzhenChuangkeDevelopmentCo.,Ltd. | Propertyservicefee | 1,516,908.38 | |
| ShenzhenGuaranteeGroupCo.,Ltd. | Propertyservicefee | 4,173,239.39 | 4,347,773.48 |
| ShenzhenHi-techZoneDevelopmentConstructionCo.,Ltd. | Propertyservicefee | 2,391,764.60 | 1,844,495.70 |
| ShenzhenConvention&ExhibitionCenterManagementCo.,Ltd. | Propertyservicefee | 8,741,565.84 | 6,587,040.80 |
| ShenZhenSpecialEconomicZoneRealEstate&Properties(Group)Co.,Ltd.anditsconsolidatedsubsidiaries,exceptwherethecontextotherwiserequires | Propertyservicefee | 5,809,905.47 | 12,696,424.71 |
| ShenzhenTalentRecruitmentInternationalCo.,Ltd. | Propertyservicefee | 444,280.42 | |
| ShenzhenTsinghuaUniversityResearchInstitute | Propertyservicefee | 1,376,718.19 | 351,203.22 |
| ShenzhenTotalLogisticsServiceCo.,Ltd. | Propertyservicefee | 5,907,491.61 | 2,500,524.01 |
| ShenzhenShenzhenHongKongScienceandTechnologyInnovationParkOperationDevelopmentCo.,Ltd. | Propertyservicefee | 3,153,538.10 | |
| ShenzhenShenzhenHongKongScienceandTechnologyInnovationCooperationZoneDevelopmentCo.,Ltd. | Propertyservicefee | 2,352,378.93 | 1,707,998.32 |
| ShenzhenUrbanConstructionMingyuanIndustrialCo.,Ltd. | Projectpayment | 564,220.20 | |
| ShenzhenConstructionDevelopment(Group)Company | Propertyservicefee | 136,971.70 | |
| ShenzhenLargeIndustrialZone(ShenzhenExportProcessing | Projectpayment | 263,350.35 | 4,124,594.71 |
| Zone)DevelopmentManagementGroupCo.,Ltd. | |||
| ShenzhenLargeIndustrialZone(ShenzhenExportProcessingZone)DevelopmentManagementGroupCo.,Ltd. | Propertyservicefee | 76,628.67 | 81,796.64 |
| ShenzhenFubaoIndustrialParkOperationCo.,Ltd. | Projectpayment | 209,505.25 | 255,834.10 |
| ShenzhenFubaoIndustrialParkOperationCo.,Ltd. | Propertyservicefee | 140,690.29 | 98,543.56 |
| ShenzhenHi-techZoneInvestmentDevelopmentGroupCo.,Ltd. | Propertyservicefee | 47,172.26 | |
| ShenzhenEnvironmentalProtectionTechnologyGroupCo.,Ltd. | Projectpayment | 90,016.79 | 212,270.67 |
| ShenzhenEnvironmentalProtectionTechnologyGroupCo.,Ltd. | Propertyservicefee | 5,857,237.41 | 6,269,868.04 |
| ShenzhenSouthCertificationCo.,Ltd. | Propertyservicefee | 74,213.21 | |
| ShenzhenShenfubao(Group)TianjinIndustrialDevelopmentCo.,Ltd. | Propertyservicefee | 1,703,980.95 | 1,095,907.44 |
| ShenzhenShenfubao(Group)TianjinIndustrialDevelopmentCo.,Ltd. | Projectpayment | 46,550.75 | |
| ShenzhenShenfubao(Group)TianjinInvestmentDevelopmentCo.,Ltd. | Propertyservicefee | 7,628,802.17 | 8,068,487.11 |
| ShenzhenShenfubao(Group)Co.,Ltd. | Projectpayment | 1,328,615.05 | 1,330,275.23 |
| ShenzhenShenfubao(Group)Co.,Ltd. | Propertyservicefee | 4,558,105.71 | 4,785,217.03 |
| ShenzhenShenfubao(Group)Co.,Ltd. | Fundingoccupancyexpense | -233,337.05 | |
| ShenzhenShenfubaoEasternInvestmentDevelopmentCo.,Ltd. | Projectpayment | 67,252.15 | |
| ShenzhenShenfubaoEasternInvestmentDevelopmentCo.,Ltd. | Propertyservicefee | 483,048.37 | 170,701.27 |
| ShenzhenShentouPropertyDevelopmentCo.,Ltd. | Supervisionservicefee | 11,320.75 | |
| ShenzhenShantouSpecialCooperationZoneBranchofShenzhenWaterPlanningandDesignInstituteCo.,Ltd. | Propertyservicefee | 21,247.49 | 22,050.00 |
| ShenzhenSpecialZoneLiteratureMagazineCo.,Ltd. | Propertyservicefee | 51,384.96 | |
| ShenzhenSportsCenterOperationManagementCo.,Ltd. | Propertyservicefee | 4,806,978.01 | 687,914.48 |
| ShenzhenInvestmentHoldingsDevelopmentCo.,Ltd. | Propertyservicefee | 110,059.63 | |
| ShenzhenInvestmentBuildingHotelCo.,Ltd. | Supervisionservicefee | 70,754.72 | |
| ShenzhenInvestmentHoldingsCo.,Ltd. | Projectpayment | 186,843.22 | 7,209,951.08 |
| ShenzhenInvestmentHoldingsCo.,Ltd. | Commissionmanagementfee | 1,886,792.46 | |
| ShenzhenInvestmentHoldingsCo.,Ltd. | Propertyservicefee | 8,643,987.73 | 7,584,483.75 |
| ShenzhenInvestmentHoldingsCo.,Ltd. | Fundingoccupancyexpense | 174,206.14 | |
| ShenzhenBayArea | Propertyservicefee | 5,432,881.86 | 75,100,961.12 |
| InternationalHotelCo.,Ltd. | |||
| ShenzhenCulturalBusinessDevelopmentCo.,Ltd. | Propertyservicefee | 227,088.46 | |
| ShenzhenBayWanliHotelBranchofShenzhenWuzhouHotelManagementCo.,Ltd. | Propertyservicefee | 338,650.32 | 360,707.44 |
| ShenzhenBayWanyiHotelBranchofShenzhenWuzhouHotelManagementCo.,Ltd. | Propertyservicefee | 220,010.13 | 235,915.67 |
| ShenzhenXingyeLogisticsCo.,Ltd. | Propertyservicefee | 11,009.18 | |
| ShenzhenSMEVentureCapitalCo.,Ltd. | Propertyservicefee | 872,990.19 | |
| ShenzhenBay(Baoding)InnovationDevelopmentCo.,Ltd. | Propertyservicefee | 579,370.16 | 354,142.48 |
| ShenzhenBayTechnologyDevelopmentCo.,Ltd. | Propertyservicefee | 78,923,867.12 | 54,562,406.82 |
| ShenzhenBayAreaUrbanConstructionandDevelopmentCo.,Ltd. | Projectpayment | 686,767.33 | |
| ShenzhenBayAreaUrbanConstructionandDevelopmentCo.,Ltd. | Propertyservicefee | 2,525,782.31 | 2,977,659.03 |
| ShenzhenXiangmihuInternationalExchangeCenterDevelopmentCo.,Ltd. | Projectpayment | 537,490.97 | 1,419,537.05 |
| ShenzhenXiangmihuInternationalExchangeCenterDevelopmentCo.,Ltd. | Propertyservicefee | 3,458,208.00 | 2,423,260.33 |
| ShenzhenXingyeXingfaClothingManufacturingCo.,Ltd. | Propertyservicefee | 2,832,334.90 | |
| ShenzhenInfinovaLimited | Propertyservicefee | 463,319.77 | 289,916.74 |
| ShenzhenInfinovaSmartParkTechnologyCo.,Ltd. | Consultantserviceexpense | 1,859,676.00 | 512,000.00 |
| ChinaShenzhenForeignTrade(Group)Corp.Ltd. | Propertyservicefee | 2,457,982.89 | 2,763,006.30 |
| ChinaShenzhenForeignTrade(Group)Corp.Ltd. | Supervisionservicefee | 424,528.30 | 618,867.93 |
| ShenzhenCityConstructionIndustrialParkDevelopmentCo.,Ltd. | Propertyservicefee | 391,346.42 | |
| ChengduZunxiLandCo.,Ltd. | Propertyservicefee | 1,152,459.02 | |
| ShenzhenChenglongRealEstateDevelopmentCo.,Ltd. | Propertyservicefee | 395,685.75 | |
| ShenzhenShenzhenShantouSpecialCooperationZoneSIHCInvestmentDevelopmentCo.,Ltd. | Propertyservicefee | 508,184.64 | |
| DongguanSIHCInvestmentDevelopmentCo.,Ltd. | Propertyservicefee | 1,784,025.19 | |
| SIHCanditssubsidiaries | CateringServices | 197,755.66 |
NotestoacquisitionofgoodsandreceptionoflaborserviceIn2023,thecateringservicebusinesswithSIHCandanumberofitssubsidiarieswaspresentedonaconsolidatedbasisunderthecaliberof"SIHCanditssubsidiaries"duetothelargenumberofpartiesinvolvedandthesmallamountoftransactionswithasinglerelatedparty,whichdidnotmeetthecriteriaforseparatedisclosure.
(2)InformationonRelated-partyTrusteeship/Contract
Listsoftrusteeship/contractoftheCompany:
Unit:RMB
| Nameoftheentruster/contractee | Nameoftheentrustee/contractor | Type | Startdate | Duedate | Pricingbasis | IncomerecognizedinthisCurrentPeriod |
| ShenzhenShentouPropertyDevelopmentCo.,Ltd. | ShenZhenProperties&ResourcesDevelopment(Group)Ltd. | Investmentproperty | 6November2019 | 5November2025 | Marketpricing | 61,640,558.21 |
| ShenzhenShenfubao(Group)Co.,Ltd. | ShenzhenShenfubaoPropertyDevelopmentCo.,Ltd. | RealEstate,engineering | 1January2023 | 31December2023 | Marketpricing | 1,320,754.72 |
| ShenzhenFubaoIndustrialParkOperationCo.,Ltd. | ShenzhenShenfubaoPropertyDevelopmentCo.,Ltd. | Propertymaintenanceproject | 1January2023 | 31December2023 | Marketpricing | 27,192.08 |
| ShenzhenShenfubao(Group)Co.,Ltd. | ShenzhenFreeTradeZoneSecurityServiceCo.,Ltd. | Property | 1January2023 | 31December2023 | Marketpricing | 1,420,000.00 |
| ShenzhenShenfubao(Group)Co.,Ltd. | ShenzhenShenfubaoHydropowerMunicipalServiceCo.,Ltd. | Property | 1January2023 | 31December2023 | Marketpricing | 2,440,695.63 |
Notes:
Listsofentrust/contractee
Unit:RMB
| Nameoftheentruster/contractee | Nameoftheentrustee/contractor | Type | Startdate | Duedate | Pricingbasis | Chargerecognizedinthiscurrentperiod |
Notes:
(3)InformationonRelated-partyLeaseTheCompanywaslessor:
Unit:RMB
| Nameoflessee | Categoryofleasedassets | Theleaseincomeconfirmedinthecurrentperiod | Theleaseincomeconfirmedinthepreviousperiod |
| ShenzhenBayWanyiHotelBranchofShenzhenWuzhouHotelManagementCo.,Ltd. | Investmentproperty | 1,265,195.37 | 1,369,729.39 |
| ShenzhenBayWanliHotelBranchofShenzhenWuzhouHotelManagementCo.,Ltd. | Investmentproperty | 1,665,257.39 | 1,891,531.05 |
TheCompanywaslessee:
Unit:RMB
| Nameoflessor | Categoryofleasedassets | Rentalexpenseofsimplifiedshort-termleasesandlow-valueassetleases(ifapplicable) | Variableleasepaymentsthatarenotcoveredinthemeasurementoftheleaseliabilities(if | Rentpayable | Interestexpenseonleaseliabilitiesborne | Addedright-of-useassets |
| applicable) | |||||||||||
| Amountforthecurrentperiod | Amountforthepreviousperiod | Amountforthecurrentperiod | Amountforthepreviousperiod | Amountforthecurrentperiod | Amountforthepreviousperiod | Amountforthecurrentperiod | Amountforthepreviousperiod | Amountforthecurrentperiod | Amountforthepreviousperiod | ||
| ShenzhenShentouPropertyDevelopmentCo.,Ltd. | Investmentproperty | 796,404.00 | 139,419.23 | 614,554.40 | |||||||
| ShenzhenInvestmentBuildingHotelCo.,Ltd. | Investmentproperty | 820,296.12 | 66,547.40 | ||||||||
| ShenzhenHi-techZoneDevelopmentConstructionCo.,Ltd. | Investmentproperty | 22,302.40 | 519,166.28 | 111,132.00 | 104,160.00 | 4,363.33 | 8,533.45 | ||||
| ShenzhenLargeIndustrialZone(ShenzhenExportProcessingZone)DevelopmentManagementGroupCo.,Ltd. | Investmentproperty | 11,256.87 | 3,690.77 | ||||||||
| ShenZhenSpecialEconomicZoneRealEstate&Properties(Group)Co.,Ltd.anditsconsolidatedsubsidiaries,exceptwherethecontextotherwiserequires | Investmentproperty | 41,333.32 | 640,523.85 | 702,000.00 | 55,000.00 | 81,134.66 | 8,020.54 | 1,782,328.10 | |||
| ShenzhenShenfubao(Group)Co.,Ltd. | Investmentproperty | 231,660.00 | 28,809.46 | 1,204,267.57 | |||||||
| ShenzhenInvestmentHoldingsCo.,Ltd. | Investmentproperty | 591,394.63 | 625,825.14 | 3,482,245.09 | 324,499.11 | 192,376.34 | 153,717.85 | -1,814,518.69 | 7,825,665.72 | ||
| ShenzhenBayTechnologyDevelopmentCo.,Ltd. | Investmentproperty | 1,119,654.36 | 1,132,586.62 | ||||||||
| ShenzhenBinjiangIndustryCo.,Ltd. | Investmentproperty | 41,600.00 | |||||||||
Notes:
(4)InformationonRelated-partyGuarantee
TheCompanywasguarantor:
Unit:RMB
| Securedparty | Amountofguarantee | Startdate | Enddate | Executionaccomplishedornot |
TheCompanywassecuredparty
Unit:RMB
| Guarantor: | Amountofguarantee | Startdate | Enddate | Executionaccomplishedornot |
| GuorenP&C | 82,093,413.89 | 26June2022 | 30April2024 | No |
| ShenzhenShendanZengxinFinancingGuaranteeCo.,Ltd. | 16,750,000.00 | 29March2022 | 28March2025 | No |
| ShenzhenShendanZengxinFinancingGuaranteeCo.,Ltd. | 36,850,000.00 | 29March2022 | 28March2026 | No |
| ShenzhenShendanZengxinFinancingGuaranteeCo.,Ltd. | 13,400,000.00 | 29March2022 | 28March2027 | No |
| ShenzhenGuaranteeGroupCo.,Ltd. | 1,684,498.43 | December29,2023 | 29December2024 | No |
| ShenzhenGuaranteeGroupCo.,Ltd. | 2,895,117.51 | 1May2022 | 1May2023 | Yes |
Notes:
(5)InformationonInter-bankLendingofCapitalofRelatedParties
Unit:RMB
| Relatedparties | Amount | Startdate | Maturitydate | Note |
| Borrowing | ||||
| Lending | ||||
(6)InformationonAssetsTransferandDebtRestructuringbyRelatedParty
Unit:RMB
| Relatedparties | Contentoftherelated-partytransaction | Amountforthecurrentperiod | Amountforthepreviousperiod |
| ShenzhenInvestmentHoldingsCo.,Ltd. | Transferoffixedassets | 171,582.53 | |
| ShenzhenShenfubao(Group)Co.,Ltd. | Acquisitionofequityinterest | 86,923,058.15 | |
| ShenZhenSpecialEconomicZoneRealEstate&Properties(Group)Co.,Ltd.andShenzhenSPGInvestmentCo.,Ltd. | Acquisitionofequityinterest | 206,390,636.61 | |
| ChinaShenzhenForeignTrade(Group)Corp.Ltd. | Acquisitionofequityinterest | 20,902,006.86 |
(7)InformationonRemunerationforKeyManagementPersonnel
Unit:RMB
| Item | Amountforthecurrentperiod | Amountforthepreviousperiod |
| Remunerationforkeymanagementpersonnel | 12,312,227.12 | 15,149,368.18 |
(8)OtherRelated-partyTransactions
6.AccountsReceivableandPayableofRelatedParty
(1)AccountsReceivable
Unit:RMB
| Projectname | Relatedparties | Endingbalance | Beginningbalance | ||
| Carryingamount | Baddebtprovision | Carryingamount | Baddebtprovision | ||
| Accountsreceivable | HebeiShenbaoInvestmentDevelopmentCo.,Ltd. | 27,085,777.03 | 812,573.31 | 15,856,697.13 | 475,700.91 |
| ShenzhenShenyueUnitedInvestmentCo.,Ltd. | 4,407,622.21 | 240,783.73 | 1,545,493.83 | 46,364.81 | |
| ShenzhenChuangkeDevelopmentCo.,Ltd. | 1,607,922.88 | 48,237.69 | |||
| ShenzhenGuaranteeGroupCo.,Ltd. | 69,764.97 | 2,092.95 | |||
| ShenzhenHi-techZoneDevelopmentConstructionCo.,Ltd. | 2,753,626.63 | 253,302.70 | 3,292,961.84 | 177,657.15 | |
| ShenzhenConvention&ExhibitionCenterManagementCo.,Ltd. | 1,918,835.40 | 71,436.06 | 1,379,512.79 | 55,256.38 | |
| ShenZhenSpecialEconomicZoneRealEstate&Properties(Group)Co.,Ltd.anditsconsolidatedsubsidiaries,exceptwherethecontextotherwiserequires | 12,659,861.03 | 2,147,549.43 | 10,072,563.13 | 674,112.86 | |
| ShenzhenTsinghuaUniversityResearchInstitute | 57,574.31 | 1,727.23 | 113,107.19 | 3,393.22 | |
| ShenzhenTotalLogisticsServiceCo.,Ltd. | 608,792.15 | 18,263.76 | 779,745.46 | 23,392.36 | |
| ShenzhenShenzhenHongKongScienceandTechnologyInnovationParkOperationDevelopmentCo.,Ltd. | 3,342,750.39 | 100,282.51 | |||
| ShenzhenShenzhenHongKongScienceandTechnologyInnovationCooperationZoneDevelopmentCo.,Ltd. | 372,253.03 | 11,167.59 | 114,435.00 | 3,433.05 | |
| ShenzhenShenzhenShantouSpecialCooperationZoneSIHCInvestmentDevelopmentCo.,Ltd. | 508,084.64 | 15,242.54 | |||
| ShenzhenCityConstructionIndustrialParkDevelopmentCo.，Ltd. | 391,346.42 | 11,740.39 | |||
| Shenzhen | 395,685.75 | 11,870.57 | |||
| ChenglongRealEstateDevelopmentCo,Ltd. | ||||
| ShenzhenLargeIndustrialZone(ShenzhenExportProcessingZone)DevelopmentManagementGroupCo.,Ltd. | 480,229.65 | 64,846.89 | 1,811,138.85 | 104,774.17 |
| ShenzhenFubaoIndustrialParkOperationCo.,Ltd. | 5,365.01 | 160.95 | 307,714.39 | 9,231.43 |
| ShenzhenEnvironmentalProtectionTechnologyGroupCo.,Ltd. | 1,653,450.97 | 63,121.44 | 1,331,881.42 | 39,956.44 |
| ShenzhenTransportationStationDevelopmentCo.,Ltd. | 5.51 | 0.17 | ||
| ShenzhenShenfubao(Group)TianjinIndustrialDevelopmentCo.,Ltd. | 1,604,015.82 | 66,998.26 | 917,263.67 | 66,998.66 |
| ShenzhenShenfubao(Group)TianjinInvestmentDevelopmentCo.,Ltd. | 3,255,544.36 | 155,467.93 | 2,454,324.58 | 88,615.34 |
| ShenzhenShenfubao(Group)Co.,Ltd. | 2,567,475.48 | 77,024.27 | 3,699,118.44 | 145,973.55 |
| ShenzhenShenfubaoEasternInvestmentDevelopmentCo.,Ltd. | 55.70 | 1.67 | ||
| ShenzhenShentouPropertyDevelopmentCo.,Ltd. | 2,378,435.98 | 71,353.08 | 1,500,297.75 | 45,008.93 |
| ShenzhenInvestmentHoldingsCo.,Ltd. | 4,131,697.18 | 144,179.32 | 6,623,892.25 | 218,945.16 |
| ShenzhenBayAreaInternationalHotelCo.,Ltd. | 51,312,666.65 | 1,539,380.00 | ||
| ShenzhenCulturalBusinessDevelopmentCo.,Ltd. | 935.08 | 28.05 | ||
| ShenzhenBay(Baoding)InnovationDevelopmentCo.,Ltd. | 156,427.62 | 4,692.83 | 116,061.39 | 3,481.84 |
| ShenzhenBayTechnologyDevelopmentCo.,Ltd. | 137,865,750.97 | 7,568,725.60 | 131,203,332.93 | 3,936,099.99 |
| ShenzhenXiangmihu | 992,580.22 | 29,777.41 | 811,111.70 | 24,333.35 |
| InternationalExchangeCenterDevelopmentCo.,Ltd. | |||||
| ShenzhenInfinovaSmartParkTechnologyCo.,Ltd. | 1,391,838.00 | 41,755.14 | 320,000.00 | 9,600.00 | |
| ChinaShenzhenForeignTrade(Group)Corp.Ltd. | 24,500.00 | 6,600.00 | |||
| Total | 212,618,383.72 | 12,038,908.85 | 235,633,141.06 | 7,693,804.22 | |
| Contractassets | HebeiShenbaoInvestmentDevelopmentCo.,Ltd. | 361,513.73 | 373,225.03 | ||
| ShenzhenLargeIndustrialZone(ShenzhenExportProcessingZone)DevelopmentManagementGroupCo.,Ltd. | 231,455.46 | 337,422.67 | |||
| ShenzhenFubaoIndustrialParkOperationCo.,Ltd. | 26,457.15 | 26,457.15 | |||
| ShenzhenEnvironmentalProtectionTechnologyGroupCo.,Ltd. | 28,385.93 | ||||
| ShenzhenShenfubao(Group)Co.,Ltd. | 43,500.00 | 43,500.00 | |||
| ShenzhenShenfubaoEasternInvestmentDevelopmentCo.,Ltd. | 14,704.85 | 14,649.15 | |||
| ShenzhenInvestmentHoldingsCo.,Ltd. | 133,597.44 | 139,004.56 | |||
| ShenzhenBayAreaUrbanConstructionandDevelopmentCo.,Ltd. | 50,169.55 | ||||
| ShenzhenXiangmihuInternationalExchangeCenterDevelopmentCo.,Ltd. | 14,806.94 | 46,418.86 | |||
| ShenzhenUrbanConstructionMingyuanIndustrialCo.,Ltd. | 18,450.00 | ||||
| Total | 844,485.57 | 1,059,232.91 | |||
| Otherreceivables | ShenzhenHi-techZoneDevelopmentConstructionCo.,Ltd. | 167,086.43 | 10,525.99 | 121,714.92 | 5,080.85 |
| ShenzhenConvention&ExhibitionCenterManagementCo.,Ltd. | 1,000.00 |
| ShenZhenSpecialEconomicZoneRealEstate&Properties(Group)Co.,Ltd.anditsconsolidatedsubsidiaries,exceptwherethecontextotherwiserequires | 100,000.00 | 30,000.00 | 100,000.00 | 10,000.00 | |
| ShenzhenBinjiangIndustryCo.,Ltd. | 10,000.00 | 300.00 | |||
| ShenzhenLargeIndustrialZone(ShenzhenExportProcessingZone)DevelopmentManagementGroupCo.,Ltd. | 102,583.54 | 3,258.35 | 2,583.54 | 77.51 | |
| ShenzhenQianhaiAdvancedInformationServiceCo.,Ltd.1 | 10,720,575.27 | 321,617.26 | 10,720,575.27 | 321,617.26 | |
| ShenzhenShenfubao(Group)Co.,Ltd. | 81,264.60 | 2,437.94 | |||
| ShenzhenShenfubaoEasternInvestmentDevelopmentCo.,Ltd. | 350,000.00 | 10,500.00 | |||
| ShenzhenShentouPropertyDevelopmentCo.,Ltd. | 81,233.00 | 81,233.00 | 81,233.00 | 81,233.00 | |
| ShenzhenInvestmentHoldingsCo.,Ltd. | 685,740.90 | 157,127.32 | 685,740.90 | 112,893.70 | |
| ShenzhenXinhaiHoldingCo.,Ltd. | 201,499,990.18 | 6,044,999.71 | 201,499,990.18 | 6,044,999.71 | |
| ShenzhenXinhaiRongyaoRealEstateDevelopmentCo.,Ltd. | 375,068,984.55 | 11,252,069.54 | 375,068,984.55 | 11,252,069.54 | |
| ShenzhenTianjunIndustrialCo.,Ltd. | 10,000,000.00 | 10,000,000.00 | 0.00 | ||
| ShenzhenBayTechnologyDevelopmentCo.,Ltd. | 10,065,313.75 | 301,959.41 | 4,159,687.50 | 124,790.63 | |
| ShenzhenWufangCeramicsIndustrialCo.,Ltd. | 1,747,264.25 | 1,747,264.25 | 1,747,264.25 | 1,747,264.25 | |
| ChinaShenzhenForeignTrade(Group)Corp.Ltd. | 3,734.83 | 373.48 | |||
| Total | 610,681,036.47 | 19,963,292.77 | 604,191,508.94 | 19,700,399.93 |
(2)AccountsPayable
Unit:RMB
| Projectname | Relatedparties | Endingcarryingamount | Beginningcarryingamount |
| Accountspayable | ShenzhenGeneralInstituteofArchitecturalDesignandResearchCo.,Ltd. | 2,102,761.00 | 1,199,653.20 |
| ShenzhenShentouPropertyDevelopmentCo.,Ltd. | 889,007.87 | 787,002.77 | |
| ShenzhenSDGServiceCo.,Ltd. | 564,288.00 | 282,144.00 | |
| ShenzhenInfinovaRenyongInformationCo.,Ltd. | 25,203.84 | ||
| ShenzhenQianhaiAdvancedInformationServiceCo.,Ltd. | 8,126,060.00 | 9,026,060.00 | |
| Total | 11,682,116.87 | 11,320,063.81 | |
| Otherpayables | ShenzhenGuaranteeGroupCo.,Ltd. | 1,494,841.29 | 1,494,841.29 |
| ShenzhenTalentRecruitmentInternationalCo.,Ltd. | 147,132.37 | ||
| ShenzhenFreeTradeZoneLifeServiceCo.,Ltd. | 4,850.00 | 4,850.00 | |
| ShenzhenConstructionDevelopment(Group)Company | 152,227.00 | ||
| ShenzhenLargeIndustrialZone(ShenzhenExportProcessingZone)DevelopmentManagementGroupCo.,Ltd. | 31,218.60 | ||
| ShenzhenForeignServiceGroupCo.,Ltd. | 1,101,949.83 | ||
| ShenzhenFubaoIndustrialParkOperationCo.,Ltd. | 11,579.00 | ||
| ShenzhenSouthCertificationCo.,Ltd. | 34,002.15 | ||
| ShenzhenShenfubao(Group)Co.,Ltd. | 2,863,523.56 | 2,503,870.62 | |
| ShenzhenShenfubaoEasternInvestmentDevelopmentCo.,Ltd. | 117,693.11 | ||
| ShenzhenShentouPropertyDevelopmentCo.,Ltd. | 8,621,679.48 | 10,126,517.16 | |
| ShenzhenInvestmentHoldingsCo.,Ltd. | 868,934.14 | ||
| ShenzhenCulturalBusinessDevelopmentCo.,Ltd. | 773,680.00 | ||
| ShenzhenBayWanliHotelBranchofShenzhenWuzhouHotelManagementCo.,Ltd. | 687,525.00 | ||
| ShenzhenBayWanyiHotelBranchofShenzhenWuzhouHotelManagementCo.,Ltd. | 562,521.00 | ||
| ShenzhenSMEVentureCapitalCo.,Ltd. | 339,760.59 | ||
| Tian’anInternationalBuildingPropertyManagementCompanyofShenzhen | 5,214,345.90 | 5,214,345.90 | |
| ChinaShenzhenForeignTrade(Group)Corp.Ltd. | 265,018.43 | ||
| ShenzhenBayTechnologyDevelopmentCo.,Ltd. | 143,003,641.12 | 179,966,045.36 | |
| ShenzhenBayAreaUrbanConstructionandDevelopmentCo.,Ltd. | 360,752.18 | 360,752.18 | |
| ShenzhenRealEstateJifaWarehousingCo.,Ltd. | 42,296,665.14 | 42,296,665.14 | |
| ShenzhenInfinovaLimited | 144,219.02 | 144,219.02 | |
| YangzhouLvfaRealEstateCo.,Ltd. | 369,623,672.79 | 313,705,372.89 | |
| Total | 574,884,143.71 | 559,654,767.55 |
Note1:TheotherreceivablesoftheCompanytoShenzhenQianhaiAdvancedInformationServiceCo.,Ltd.(hereinafterreferredtoas“QianhaiAdvanced”)areadvancemoneypaidinadvanceduetothedemolitionofGuanlanBenglingProject.AccordingtothejointandseveralguaranteecommitmentlettersignedbyShenzhenXinhaiRongyaoRealEstateDevelopmentCo.,Ltd.,XinhaiRongyaoisjointlyandseverallyliableforthetaxandinterestadvancedbytheCompany.Outofprudence,theCompany'stransactionstoQianhaiAdvancedaredisclosed.
7.CommitmentsofRelatedParty
8.Other
XV.Share-basedPayment
1.TheOverallSituationofShare-basedPayments
□Applicable?Notapplicable
2.Equity-settledShare-basedPayments
□Applicable?Notapplicable
3.Cash-settledShare-basedPayments
□Applicable?Notapplicable
4.Share-BasedPaymentExpensesforthePeriod
□Applicable?Notapplicable
5.ModificationandTerminationofShare-basedPayment
6.Other
XVI.CommitmentsandContingency
1.SignificantCommitmentsSignificantcommitmentsonbalancesheetdateSignedlargeamountcontractunderperformingortobeperformed
| Item | AmountofCurrentPeriod | Sameperiodoflastyear |
| Commitmentssignedbuthasn’tbeenrecognizedinlargeamount | 2,528,685,973.91 | 2,661,507,526.23 |
2.Contingency
(1)SignificantContingencyonBalanceSheetDate
(1)TheactionabouttransferringJiabinBuildingcontentiousmatterIn1993,theCompanysignedRightofDevelopmentTransferContractofJiabinBuildingwithShenzhenJiyongPropertyDevelopmentCo.,Ltd.(hereinafterreferredtoas“JiyongCompany”).Sincethecontractwasnoteffectivelyexecuted,theCompanysubsequentlyfiledaseriesoflawsuitsagainstthepartiesinvolvedintheproject,buttheoutcomewasnotfavorabletotheCompany.Therefore,theCompanycalculatedandwithdrewbad-debtprovisionsforaccountsreceivablefromJiyongCompanyinfullinpastyearsforthetransferofJiabinBuilding.OnOctober31,2018,ShenzhenIntermediatePeople’sCourtmadeacivilawardandruledthattheCompany’sapplicationforthebankruptcyofJiyongCompanywouldnotbeaccepted.TheCompanyappealedagainsttheruling.OnApril29,2019,theGuangdongProvincialHigherPeople'sCourtruledtorejecttheCompany'sappealandmaintaintheoriginalruling.Asoftheissuancedateofthereport,thereisnonewprogressinthecase.
(2)ThearbitrationcaseofpropertycontractdisputeofSoftwareParkPhaseIbetweentheFourthOwners'CommitteeofShenzhenNanshanDistrictSoftwarePark(Applicant)andShenzhenITCTechnologyParkServiceCo.,Ltd.(Respondent1,hereinafterreferredtoasthe"ITCTechnologyParkCompany"),plustheHigh-techZoneBranchofShenzhenITCTechnologyParkServiceCo.,Ltd.(Respondent2,hereinafterreferredtoasthe"High-techZoneBranch")InFebruaryandMarch2021,theHigh-techZoneBranchandtheITCTechnologyParkCompanyreceivedarbitrationnoticesrespectivelyofthecase[2021]ShenguozhongshouNo.541and[2021]ShenguozhongshouNo.1063.TheFourthOwners'CommitteeofShenzhenNanshanDistrictSoftwareParkappliedforthefollowingaward:Respondent1shallreturnRMB9,893,677.82andfundoccupationfeeofRMB3,272,665.99(temporarilycalculatedfromJuly1,2012toJanuary31,2021),totalingRMB13,166,343.81;respondent1shallbeartheattorney'sfeeofRMB30,000.00;respondent2shallreturnRMB31,077,017.59andRMB635,929.44offundoccupationfee(temporarilycalculatedfromJuly1,2020toJanuary31,2021),totalingRMB31,712,947.03;respondent2shallbeartheattorney'sfeeofRMB30,000.00.ThetotalamountoftheaboveisRMB45,209,290.84.OnAugust21,2022,theArbitrationTribunalheldthesecondhearingtoinquireabouttheauditreportissuedbythethird-partyauditorandthedetailsofthecase,onSeptember5,2022,Jun&PartnersrespondedtotheSpecialAuditReportofCaseNo.541andCaseNo.1063.On23Marchand24March2023,twoarbitrationawardswerereceivedrespectively,andaccordingtotheconclusionofarbitrationawards,theHigh-techZoneBranchshouldreturnapproximatelyRMB540,000ofpublicrevenuetotheOwners'CommitteeofShenzhenNanshanDistrictSoftwarePark(inspiteofRMB32millionrequestedbytheOwners'Committee);inregardtothearbitrationcasebetweentheITCTechnologyParkCompanyandtheOwners'CommitteeofShenzhenNanshanDistrictSoftwarePark,allrequestsofthelatterhavebeenrejectedbythearbitrationtribunal(inspiteofRMB13millionrequestedbytheOwners'Committee).
(3)LitigationcaseaboutShenzhenBasepointIntelligentCo.,Ltd.On20August2017,ShenzhenFacilityManagementCommunityTechnologyCo.,Ltd.signedaSoftwareServiceContractwithChinaMerchantsPropertyIntelligentFacilityManagementPlatform.ThecompanyprocuredaRMB3millionfacilitymanagementsystemfromBasepointfortheproject(31items).Duringdeliveryoftheproject,only11itemsofthesystemdeliveredbyBasepointpassedtheacceptanceinspection,leavingthefulldeliveryunfinished.Therefore,theCompanyfailedtoreachaconsensuswithBasepointonpayment,andthelattersuedtheCompanyin2021,makingRMB3millionoftheCompany'sfundlockedup.Accordingtothejudgmentoffirstinstanceon10August2022,theCompanyshouldcompensateRMB3milliontoBasepoint.TheCompanyrefusedtoacceptthefirstinstancejudgmentandinstitutedanappealforsecondinstancein2022.Thesecondinstancewasheardon11August2023,andisawaitingjudgment.
(4)PropertymanagementfeelitigationcaseregardingShenzhenXuanshengIndustrialDevelopmentCo.,Ltd.HaiwaiLianyiBuilding,No.12YingchunRoad,LuohuDistrict,ShenzhenCity,ispartlyownedbytheUnitedFrontWorkDepartmentoftheShenzhenMunicipalCommittee,andShenzhenJinhailianPropertyManagementCo.,Ltd.isauthorizedbytheUnitedFrontWorkDepartmentoftheShenzhenMunicipalCommitteetomanagetheproperty.On31December2006,JinhailianandShenzhenXuanshengIndustrialDevelopmentCo.,Ltd.signedthePropertyManagementAgreementof"HaiwaiLianyiBuilding",whichagreedthatXuanhengwouldprovidepropertymanagementservicestoJinhailianandJinhailianwouldpaythecorrespondingpropertymanagementfeestoXuansheng.On7January2020,XuanshengsignedtheAgreementwithJinhailianandtheoutsiderShenzhenShengxinHotelManagementCo.,Ltd.andagreedthatthethreepartiesreachedanagreementonthemanagementfee,principalmaintenancefee,andelectricityfeeowedtoXuanshengfrom1July2017to31December2019onthe5th-8thfloorofHaiwaiLianyiBuildingbyJinhailianasfollows:
1.Themanagementfee,principalTheamountofmaintenancefeeandelectricityfeeisRMB696,033.73;2.Jinhailianwillreturntheabovearrearsrepaymentdatebefore22January2020;3.Outoffriendlyrelationship,ifJinhailiancannotreturntheabovearrearsbefore22January2020,thenShengxinHoteliswillingtoadvancefromtherentpayabletoJinhailian;4.Ifduetoobjectivereasons,ShengxinHotelcannotcompletetheleasesurrender,Xuanshengwillrefundthisadvanceintotal,andJinhailianwillstillreturntheoutstandingamount.However,bothJinhailianandShengxinHotelfailedtofulfilltheirpaymentobligationsasagreedinthesaidagreement.Inthisregard,XuanshengissuedaNoticeofDemandforPaymentofArrearson13January2022andanAttorney'sLettertoJinhailianon15August2022,demandingtofulfillitsobligationtopayapropertymanagementfee,principalmaintenancefee,andelectricityfeetotalingRMB696,033.73.On1September2022,XuanshengappealedtotheShenzhenLuohuDistrictPeople'sCourt.Asof31December2022,JinhailianexpectstopayRMB766,612.52(including:propertymanagementfee,principalmaintenancefee,andelectricityfeetotalingRMB696,033.73andoverdueinterestofRMB70,578.79).On12January2023,thePeople'sCourtofLuohuDistrict,Shenzhen,issuedajudgmentoffirstinstance,whichruledthatShenzhenJinhailianPropertyManagementCo.,Ltd.shallpayShenzhenXuanshengIndustrialDevelopmentCo.,Ltd.atotalofRMB696,033.73forapropertymanagementfee,principalmaintenancefee,andelectricityfeefortheperiodfrom1July2017to31December2019,andinterestforlatepayment.Jinhailianappealedagainsttheresultofthefirsttrial.Duringthesecondtrialconductedonline,ShenzhenIntermediatePeople’sCourtrejectedallrequestsappealedbyJinhailianandupheldthejudgmentofthefirsttrial.ShenzhenXuanshengappliedtothePeople’sCourtofLuohuDistrictforcompulsoryexecutionon8August2023.On14August2023,theCompanyreceivedtheexecutionnotice(2023)Y03MZNo.17352fromthePeople’sCourtofLuohuDistrict,whichrequiredtheCompanytoimmediatelyperformtheobligationsdeterminedbytheeffectivelegalinstrumentandbeartheinterestonthedebtduringthedelayedperiodofperformance,theapplicationforexecutionfeeandotherrelatedexpenses.Aftercommunicating
withthecourt,theCompanywasrequiredtopayShenzhenXuanshengatotalsumofRMB696,033.73forpropertymanagementfees,buildingrepairfunds,andelectricityexpensesincurredbetween1July2017and31December2019.Asof22August2023,wealsoowedoverdueinterestamountingtoRMB95,254.15anddelayedcompoundedinteresttotallingRMB3,532.37,bringingthegrandtotalpayableamounttoRMB794,820.25.Additionally,theCompanywasresponsibleforpayingthefirst-instancecourtacceptancefeeofRMB5,733.06atthePeople’sCourtofLuohuDistrict,alongwiththeexecutionfeeofcase(2023)Y03MZNo.17352,whichamountstoRMB10,405.53.Insummary,theaggregatetotalofallthesecostscomestoRMB810,958.84.Insummary,adheringtotheprinciplesofrespectingthelawandacceptingjudgments,andwiththeaimtoavoidthedetrimentalimpactontheCompany'snormalbusinessoperationsduetopotentialcompulsoryenforcementmeasuressuchasbankaccountfreezing,wehaveagreedtoandindeedmadethepaymentinquestion.ThisdecisionalsoservedtobringanendtothelegaldisputewithShenzhenXuansheng.On20September2023,theCompanyreceivedaNoticeofCaseClosureforaCompletedEnforcementMatterfromthePeople’sCourtofLuohuDistrict,effectivelymarkingtheconclusionofthecase.
(5)ArbitrationcaseconcerningcivilloandisputeofShenzhenRongyaoRealEstateDevelopmentCo.,Ltd.DuetoXinhaiRongyaoandXinhaiHolding'sfailuretorepayprincipalandinteresttoRongyaoRealEstateonschedule,RongyaoRealEstatehasappliedtotheShenzhenCourtofInternationalArbitrationforarbitration.ThearbitralawardordersXinhaiRongyaoandXinhaiHoldingtorepayRongyaoRealEstatethefullloanprincipalofRMB671,913,800andcorrespondinginterest(atanannualinterestrateof11%,calculatedbasedontheprincipalamountofRMB671,913,800yuanfrom4August2022untilthefullrepaymentoftheloan;provisionallyamountingtoRMB49,068,400).TheawardfurtherdecidesthatXinhaiInvestment,UrbanConstructionPropertyServiceCompany,LianghongIndustry,andTianchengInvestmentshallbearjointandseveralliabilityfortheobligationsandresponsibilitiesofXinhaiRongyaoandXinhaiHoldingunderthefirstarbitrationclaim.ItalsodecreesthatallrespondentsshallbeartheattorneyfeesofRMB1.2millionpaidbyRongyaoRealEstate.Lastly,theawardrequiresallrespondentstocoverthefullarbitrationcostsandpropertypreservationexpensesofthiscase.TheprovisionaltotalamountowedcurrentlystandsatRMB722,182,200.On4May2023,theShenzhenCourtofInternationalArbitrationissuedaNoticeofCaseAcceptance,andthefilingprocesshassincebeencompleted.Subsequently,therespondentinitiatedaproceedingattheShenzhenIntermediatePeople'sCourtseekingconfirmationofthevalidityofthearbitrationagreement,resultingintheArbitrationInstitutetemporarilysuspendingitshearingofthecase.Afterthecourt'sreview,therespondent'sapplicationwasdismissed,andthearbitrationproceedingswillresumeoncetheShenzhenCourtofInternationalArbitrationnotifiesallpartiesconcernedtoproceedwiththearbitrationprocess.
(6)ArbitrationcaseconcerningequitytransferdisputeofShenZhenProperties&ResourcesDevelopment(Group)Ltd.DuetothefailureofXinhaiRongyaotopaycompensationforinvestmentlossestoShenzhenPropertyGroupasagreed,ShenzhenPropertyGrouphasappliedtotheShenzhenCourtofInternationalArbitrationforarbitration.ItwasruledthatXinhaiRongyaomustpayRMB170,556,833.33toShenzhenPropertyGroupascompensationforinvestmentloss;thatSichuanTrustdoesnotlegallypossessthe1%equityinterestregisteredinitsnameinShenzhenRongyaoRealEstateDevelopmentCo.,Ltd.AndthatXinhaiRongyaoistheactualownerofthis1%equityinterest;thatXinhaiRongyaomustpledgeandregisteritsactually-held31%equityinterestinShenzhenRongyaoRealEstateDevelopmentCo.,Ltd.toShenzhenPropertyGroup;thatSichuanTrustmustcooperateinfacilitatingtheregistrationproceduresforthepledgeoftheaforementioned1%equityinterestinShenzhenRongyaoRealEstateDevelopmentCo.,Ltd.;thatbothXinhaiRongyaoandSichuanTrustmustbearthelegalfeesofRMB780,000incurredbyShenzhenPropertyGroup;thatXinhaiRongyaoandSichuanTrustmustcoverallarbitrationcostsandpropertypreservationexpensesinthiscase.TheprovisionaltotalamountinvolvedintheserulingsamountstoRMB171,336,833.33.TheShenzhenCourtofInternationalArbitrationissuedtheNoticeofCaseAcceptanceon14April2023,andthecasewasheardatShenzhenCourtofInternationalArbitrationon14December2023,andiscurrentlywaitingforthedecision.
(7)Asarealestatedeveloper,theCompanyprovidesmortgageloanguaranteesandpaysloandepositsforcommercialhousingpurchasersaccordingtotheoperationpracticeoftherealestateindustry.By31December2023,thebalanceofthedepositnotdischargedwithguaranteewasRMB1,133,604.61,whichwouldbedischargedwhenthemortgageloansarepaidoff.Asarealestatedeveloper,theCompanyprovidesmortgageloanguaranteesforcommercialhousingpurchasersaccordingtotheoperationpracticeoftherealestateindustry.By31December2023,thebalanceofthedepositnotdischargedwithguaranteewasRMB211,064,285.20,whichwouldbedischargedwhenthemortgageloansarepaidoff.
(2)ExplanationshallbegivenevenifthereisnosignificantcontingencyfortheCompanytodisclose
TherewasnosignificantcontingencyintheCompanytodisclose.
3.Others
XVII.EventsafterBalanceSheetDate
1.SignificantNon-adjustmentMatters
Unit:RMB
| Item | Contents | Influencenumbertothefinancialpositionandoperatingresults | Reasonofinabilitytoestimateinfluencenumber |
2.DistributionofProfit
| Amounttobedistributedforeverytenshares(RMB) | 3.12 |
| Amounttobedistributedforeverytensharesafterconsiderationandapproval(RMB) | 3.12 |
3.SalesReturn
4.NotestoOtherEventsafterBalanceSheetDateDistributionofprofitafterthebalancesheetdateOn29March2024,the25thmeetingofthe10thBoardofDirectorsoftheCompanyapprovedtheprofitdistributionplanfor2023asfollows:acashdividendofRMB3.12(taxincluded)forevery10sharesaretobepaidtoallshareholdersonthebasisof595,979,092sharesintotalattheendof2023.ThetotalcashdividendswillbeRMB185,945,476.70,andtheremainingundistributedprofitswillbecarriedforwardtothenextyear.TheplanwillbeimplementedafterapprovalbytheShareholders'Meeting.
XVIII.OtherSignificantMatters
1.TheAccountingErrorsCorrectioninPreviousPeriod
(1)RetrospectiveRestatement
Unit:RMB
| Content | Processingprogram | Nameoftheinfluencedreportitemsduringcomparisonperiod | Accumulativeimpact |
(2)ProspectiveApplication
| Content | Processingprogram | Reasonforadoptingprospectiveapplication |
2.DebtRestructuring
3.AssetsReplacement
(1)Non-monetaryAssetsExchange
(2)OtherAssetsReplacement
4.PensionPlans
5.DiscontinuedOperations
Unit:RMB
| Item | Revenue | Costs | Totalprofit | Incometaxexpense | Netprofit | ProfitfromdiscontinuedoperationsattributabletoownersoftheCompanyastheparent |
Othernotes:
6.SegmentInformation
(1)DeterminationBasisandAccountingPoliciesofReportableSegmentInaccordancewiththeinternalorganizationstructure,managementrequirementsandinternalreportsystem,theCompanyidentifiesthereportablesegmentbasedonthebusinesssegment,andassessestheoperationalperformanceofrealestatesales,propertymanagementandleaseservice.Theassetsandliabilitiessharingwithothersegmentsshallbeproportionallydistributedamongsegmentsbyscales.
(2)TheFinancialInformationofReportableSegment
Unit:RMB
| Item | Realestatebusiness | Propertymanagement | Houseleasingbusiness | Offsetamongsegment | Total |
| OperatingRevenue | 1,234,537,188.62 | 1,578,719,323.98 | 151,860,512.44 | 2,965,117,025.04 | |
| Operatingcost | 818,496,053.38 | 1,316,777,091.32 | 98,252,237.79 | 2,233,525,382.49 | |
| Totalassets | 14,465,264,793.80 | 1,974,828,270.01 | 547,969,004.28 | 16,988,062,068.09 | |
| Totalliabilities | 10,591,038,446.03 | 1,548,292,274.22 | 145,006,312.03 | 12,284,337,032.28 |
(3)IfthereWasnoReportableSegment,ortheTotalAmountofAssetsandLiabilitiesofEachReportableSegmentCouldnotBeReported,RelevantReasonsShallBeClearlyStated
(4)Othernotes
7.OtherSignificantTransactionsandEventswithInfluenceonInvestors’Decision-making
8.OtherXIX.NotesofMainItemsintheFinancialStatementsoftheCompanyastheParent
1.AccountsReceivable
(1)DisclosurebyAging
Unit:RMB
| Aging | Endingcarryingamount | Beginningcarryingamount |
| Withinoneyear(including1year) | 123,156,033.99 | 4,013,380.50 |
| Onetotwoyears | 1,024,931.55 | 1,312,285.45 |
| Twotothreeyears | 716,023.90 | 9,756.09 |
| Morethanthreeyears | 96,824,380.44 | 96,814,624.35 |
| Threetofouryears | 9,756.09 | 112,354.95 |
| Fourtofiveyears | 112,354.95 | |
| Over5years | 96,702,269.40 | 96,702,269.40 |
| Total | 221,721,369.88 | 102,150,046.39 |
(2)DisclosurebyWithdrawalMethodsforBadDebts
Unit:RMB
| Category | Endingbalance | Beginningbalance | ||||||||
| Carryingamount | Baddebtprovision | Carryingvalue | Carryingamount | Baddebtprovision | Carryingvalue | |||||
| Amount | Proportion | Amount | Withdrawalproportion | Amount | Proportion | Amount | Withdrawalproportion | |||
| AccountsreceivablewithdrawalofBaddebtprovisionseparatelyaccrued | 98,246,909.94 | 44.31% | 98,246,909.94 | 100.00% | 0.00 | 96,702,269.40 | 94.67% | 96,702,269.40 | 100.00% | 0.00 |
| Ofwhich: | ||||||||||
| Accountsreceivablewithdrawalofbaddebtprovisionofbygroup | 123,474,459.94 | 55.69% | 3,445,301.16 | 2.79% | 120,029,158.78 | 5,447,776.99 | 5.33% | 310,734.28 | 5.70% | 5,137,042.71 |
| Ofwhich: | ||||||||||
| Total | 221,721,369.88 | 100.00% | 101,692,211.10 | 45.86% | 120,029,158.78 | 102,150,046.39 | 100.00% | 97,013,003.68 | 94.97% | 5,137,042.71 |
Baddebtprovisionseparatelyaccrued:RMB98,246,909.94
Unit:RMB
| Name | Beginningbalance | Endingbalance | ||||
| Carryingamount | Baddebtprovision | Carryingamount | Baddebtprovision | Withdrawalproportion | Reasonforwithdraw | |
| ShenzhenJiyongProperties&ResourcesDevelopmentCompany | 93,811,328.05 | 93,811,328.05 | 93,811,328.05 | 93,811,328.05 | 100.00% | Involvedinlawsuitandunrecoverable |
| LuohuDistrictEconomicDevelopmentCompany | 54,380.35 | 54,380.35 | 54,380.35 | 54,380.35 | 100.00% | Longagingandexpectedunrecoverable |
| ShenzhenTeweiIndustryCo.,Ltd.(ChenhuiBuilding) | 2,836,561.00 | 2,836,561.00 | 2,836,561.00 | 2,836,561.00 | 100.00% | Longagingandexpectedunrecoverable |
| Individuallyimmaterialbutindividuallyprovidedforbaddebts | 1,544,640.54 | 1,544,640.54 | 100.00% | Involvedinlawsuitandunrecoverable | ||
Withdrawalofbaddebtprovisionbygroup:3445301.16
Unit:RMB
| Name | Endingbalance | ||
| Carryingamount | Baddebtprovision | Withdrawalproportion | |
| Portfolioofcreditriskfeatures | 111,348,682.81 | 3,445,301.16 | 3.09% |
| Governmentportfolio | 12,125,777.13 | ||
| Total | 123,474,459.94 | 3,445,301.16 | |
Notestothedeterminationbasisforthegroup:
Ifadoptingthegeneralmodeofexpectedcreditlosstowithdrawbaddebtprovisionofaccountsreceivable:
□Applicable?Notapplicable
(3)BadDebtProvisionWithdrawal,ReversedorRecoveredintheCurrentPeriodWithdrawalofbaddebtprovision:
Unit:RMB
| Category | Beginningbalance | Changesinthecurrentperiod | Endingbalance | |||
| Withdrawal | Reversedorrecovered | Verification | Others | |||
| Baddebtprovisionaccruedbyitem | 96,702,269.40 | 1,544,640.54 | 98,246,909.94 | |||
| Withdrawalofbaddebtprovisionbygroup | 310,734.28 | 3,134,566.88 | 3,445,301.16 | |||
| Total | 97,013,003.68 | 4,679,207.42 | 101,692,211.10 | |||
Ofwhichsignificantamountofrecoveredortransferred-backbaddebtprovisionforthecurrentperiod:
Unit:RMB
| Nameoftheentity | Amountreversedorrecovered | Reasonforreversal | Wayofrecovery | Basisandrationalityofdeterminingtheoriginalwithdrawalproportionofbaddebtprovision |
(4)AccountsReceivableWritten-offinCurrentPeriod
Unit:RMB
| Item | Written-offamount |
Ofwhichtheverificationofsignificantaccountsreceivable:
Unit:RMB
| Nameoftheentity | Nature | Written-offamount | Reasonforverification | Verificationproceduresperformed | Whetheroccurredbecauseofrelated-partytransactions |
Notestoverificationofaccountsreceivable:
(5)Top5oftheEndingBalanceoftheAccountsReceivableandtheContractAssetsCollectedaccordingtoArrearsParty
Unit:RMB
| Nameoftheentity | Endingbalanceofaccountsreceivable | Endingbalanceofcontractassets | Endingbalanceofaccountsreceivableandcontractassets | Proportiontototalendingbalanceofaccountsreceivableandcontractassets | Endingbalanceofbaddebtprovisionofaccountsreceivableandimpairmentprovisionforcontractassets |
| ShenzhenFutianTalentAnjuCo.,Ltd. | 109,392,112.37 | 109,392,112.37 | 49.33% | 3,281,763.37 | |
| ShenzhenJiyongProperties&ResourcesDevelopmentCompany | 93,811,328.05 | 93,811,328.05 | 42.31% | 93,811,328.05 | |
| ShenzhenFutianDistrictGovernmentProperty | 12,125,777.13 | 12,125,777.13 | 5.47% |
| ManagementCentre | |||||
| ShenzhenTeweiIndustryCo.,Ltd. | 2,836,561.00 | 2,836,561.00 | 1.28% | 2,836,561.00 | |
| ShenzhenFeihuangIndustrialCo.,Ltd. | 769,919.05 | 769,919.05 | 0.35% | 769,919.05 | |
| Total | 218,935,697.60 | 218,935,697.60 | 98.74% | 100,699,571.47 |
2.OtherReceivables
Unit:RMB
| Item | Endingbalance | Beginningbalance |
| Dividendreceivable | 151,433,108.41 | |
| Otherreceivables | 4,489,713,785.01 | 5,010,963,761.04 |
| Total | 4,489,713,785.01 | 5,162,396,869.45 |
(1)InterestReceivable
1)CategoryofInterestReceivable
Unit:RMB
| Item | Endingbalance | Beginningbalance |
2)SignificantOverdueInterest
Unit:RMB
| Entity | Endingbalance | Overduetime | Overduereason | Whetheroccurredimpairmentanditsjudgmentbasis |
Othernotes:
3)DisclosurebyWithdrawalMethodsforBadDebts
□Applicable?Notapplicable
4)BadDebtProvisionWithdrawal,ReversedorRecoveredintheCurrentPeriod
Unit:RMB
| Category | Beginningbalance | Changesinthecurrentperiod | Endingbalance | |||
| Withdrawal | Reversedorrecovered | Charged-off/Written-off | Otherchanges | |||
Ofwhichsignificantamountofrecoveredortransferred-backbaddebtprovisionforthecurrentperiod:
Unit:RMB
| Nameoftheentity | Amountreversedorrecovered | Reasonforreversal | Wayofrecovery | Basisandrationalityofdeterminingtheoriginalwithdrawalproportionofbaddebtprovision |
Othernotes:
5)InterestReceivableWritten-offinCurrentPeriod
Unit:RMB
| Item | Written-offamount |
Ofwhichtheverificationofsignificantinterestreceivable:
Unit:RMB
| Nameoftheentity | Nature | Written-offamount | Reasonforverification | Verificationproceduresperformed | Whetheroccurredbecauseofrelated-partytransactions |
Notestoverification:
Othernotes:
(2)DividendReceivable
1)CategoryofDividendReceivable
Unit:RMB
| Project(orinvestee) | Endingbalance | Beginningbalance |
| SZPRDUrbanRenewalCo.,Ltd. | 151,433,108.41 | |
| Total | 151,433,108.41 |
2)SignificantDividendsReceivableAgingover1Year
Unit:RMB
| Project(orinvestee) | Endingbalance | Aging | Reason | Whetheroccurredimpairmentanditsjudgmentbasis |
3)DisclosurebyWithdrawalMethodsforBadDebts
□Applicable?Notapplicable
4)BadDebtProvisionWithdrawal,ReversedorRecoveredintheCurrentPeriod
Unit:RMB
| Category | Beginningbalance | Changesinthecurrentperiod | Endingbalance | |||
| Withdrawal | Reversedorrecovered | Charged-off/Written-off | Otherchanges | |||
Ofwhichsignificantamountofrecoveredortransferred-backbaddebtprovisionforthecurrentperiod:
Unit:RMB
| Nameoftheentity | Amountreversedorrecovered | Reasonforreversal | Wayofrecovery | Basisandrationalityofdeterminingtheoriginalwithdrawalproportionofbaddebtprovision |
Othernotes:
5)DividendsReceivableWritten-offinCurrentPeriod
Unit:RMB
| Item | Written-offamount |
Ofwhichtheverificationofsignificantdividendsreceivable:
Unit:RMB
| Nameoftheentity | Nature | Written-offamount | Reasonforverification | Verificationproceduresperformed | Whetheroccurredbecauseofrelated-partytransactions |
Notestoverification:
Othernotes:
(3)OtherReceivables
1)CategoryofOtherReceivablesbyAccountNature
Unit:RMB
| Nature | Endingcarryingamount | Beginningcarryingamount |
| Guaranteeddeposit | 2,555,194.00 | 2,537,789.00 |
| Paymentonbehalf | 39,020.00 | |
| Externalintercoursefunds | 134,608,516.50 | 23,374,171.34 |
| Intercoursefundstosubsidiary | 4,383,952,304.98 | 5,017,542,623.59 |
| Total | 4,521,155,035.48 | 5,043,454,583.93 |
2)DisclosurebyAging
Unit:RMB
| Aging | Endingcarryingamount | Beginningcarryingamount |
| Withinoneyear(including1year) | 4,489,358,790.65 | 5,011,106,446.45 |
| Onetotwoyears | 336,882.00 | 51,049.05 |
| Twotothreeyears | 35,449.05 | 69,600.00 |
| Morethanthreeyears | 31,423,913.78 | 32,227,488.43 |
| Threetofouryears | 69,600.00 | |
| Fourtofiveyears | 50,000.00 | |
| Over5years | 31,354,313.78 | 32,177,488.43 |
| Total | 4,521,155,035.48 | 5,043,454,583.93 |
3)DisclosurebyWithdrawalMethodsforBadDebts
Unit:RMB
| Category | Endingbalance | Beginningbalance | ||||||||
| Carryingamount | Baddebtprovision | Carryingvalue | Carryingamount | Baddebtprovision | Carryingvalue | |||||
| Amount | Proportion | Amount | Withdrawalproportion | Amount | Proportion | Amount | Withdrawalproportion | |||
| Baddebtprovisionseparatelyaccrued | 127,631,562.61 | 2.82% | 22,485,536.08 | 17.62% | 105,146,026.53 | 126,148,050.95 | 2.50% | 23,592,842.54 | 18.70% | 102,555,208.41 |
| Ofwhich: | ||||||||||
| Withdrawalofbaddebtprovisionbygroup | 4,393,523,472.87 | 97.18% | 8,955,714.39 | 0.20% | 4,384,567,758.48 | 4,917,306,532.98 | 97.50% | 8,897,980.35 | 0.18% | 4,908,408,552.63 |
| Ofwhich: | ||||||||||
| Total | 4,521,155,035.48 | 100.00% | 31,441,250.47 | 0.70% | 4,489,713,785.01 | 5,043,454,583.93 | 100.00% | 32,490,822.89 | 0.64% | 5,010,963,761.04 |
Baddebtprovisionseparatelyaccrued:RMB22,485,536.08
Unit:RMB
| Name | Beginningbalance | Endingbalance | ||||
| Carryingamount | Baddebtprovision | Carryingamount | Baddebtprovision | Withdrawalproportion | Reasonforwithdraw | |
| ShumYipProperties | 109,666,108.82 | 7,110,900.41 | 111,203,099.25 | 6,057,072.72 | 5.45% | Long-termuncollectible |
| DevelopmentCo.,Ltd. | ||||||
| DameishaTourismCentre | 2,576,445.69 | 2,576,445.69 | 2,576,445.69 | 2,576,445.69 | 100.00% | Long-termuncollectible |
| HongKongHangYueDevelopmentCompanyLimited(WuyaoCompany) | 3,271,837.78 | 3,271,837.78 | 3,271,837.78 | 3,271,837.78 | 100.00% | Long-termuncollectible |
| Elevatedtrainproject | 2,542,332.43 | 2,542,332.43 | 2,542,332.43 | 2,542,332.43 | 100.00% | Long-termuncollectible |
| ShanghaiYutongRealEstateCo.,Ltd. | 5,676,000.00 | 5,676,000.00 | 5,676,000.00 | 5,676,000.00 | 100.00% | Long-termuncollectible |
| Individuallyimmaterialbutindividuallyprovidedforbaddebts | 2,415,326.23 | 2,415,326.23 | 2,361,847.46 | 2,361,847.46 | 100.00% | Long-termuncollectible |
| Total | 126,148,050.95 | 23,592,842.54 | 127,631,562.61 | 22,485,536.08 |
Withdrawalofbaddebtprovisionbygroup:8,955,714.39
Unit:RMB
| Name | Endingbalance | ||
| Carryingamount | Baddebtprovision | Withdrawalproportion | |
| Withinoneyear(including1year) | 260,459.14 | 7,813.77 | 3.00% |
| 1-2years(including2years) | 336,882.00 | 33,688.20 | 10.00% |
| 2-3years(including3years) | 35,449.05 | 10,634.72 | 30.00% |
| 3-4years(including4years) | 69,600.00 | 34,800.00 | 50.00% |
| 4-5years(including5years) | |||
| Over5years | 8,868,777.70 | 8,868,777.70 | 100.00% |
| Total | 9,571,167.89 | 8,955,714.39 | |
Notestothedeterminationbasisforthegroup:
Withdrawalofbaddebtprovisionbyadoptingthegeneralmodeofexpectedcreditloss:
Unit:RMB
| Baddebtprovision | Firststage | Secondstage | Thirdstage | Total |
| Expectedcreditlossinthenext12months | Expectedlossintheduration(creditimpairmentnotoccurred) | Expectedlossintheduration(creditimpairmentoccurred) | ||
| Balanceof1January2023 | 8,997,495.81 | 23,493,327.08 | 32,490,822.89 | |
| Balanceof1January2023inthecurrentperiod | ||||
| Withdrawalofthecurrentperiod | 57,734.04 | 57,734.04 | ||
| Amounttransferred-backforthecurrentperiod | -53,478.77 | -1,053,827.69 | -1,107,306.46 |
| Balanceof31December2023 | 9,001,751.08 | 22,439,499.39 | 31,441,250.47 |
ThebasisforthedivisionofeachstageandthewithdrawalproportionofbaddebtprovisionChangesofcarryingamountwithsignificantamountchangedoflossprovisioninthecurrentperiod
□Applicable?Notapplicable
4)BadDebtProvisionWithdrawn,ReversedorRecoveredintheCurrentPeriodWithdrawalofbaddebtprovision:
Unit:RMB
| Category | Beginningbalance | Changesinthecurrentperiod | Endingbalance | |||
| Withdrawal | Reversedorrecovered | Charged-off/Written-off | Others | |||
| Otherreceivables | 32,490,822.89 | -1,049,572.42 | 31,441,250.47 | |||
| Total | 32,490,822.89 | -1,049,572.42 | 31,441,250.47 | |||
Ofwhichthebaddebtprovisionrecoveredortransferred-backwithsignificantamountduringthecurrentperiod:
Unit:RMB
| Nameoftheentity | Amountreversedorrecovered | Reasonforreversal | Wayofrecovery | Basisandrationalityofdeterminingtheoriginalwithdrawalproportionofbaddebtprovision |
5)ParticularsoftheActualVerificationofOtherReceivablesduringtheCurrentPeriod
Unit:RMB
| Item | Written-offamount |
Ofwhichtheverificationofsignificantotherreceivables:
Unit:RMB
| Nameoftheentity | Nature | Written-offamount | Reasonforverification | Verificationproceduresperformed | Whetheroccurredbecauseofrelated-partytransactions |
Notestotheverificationofotherreceivables:
6)Top5oftheEndingBalanceofOtherReceivablesCollectedaccordingtotheArrearsParty
Unit:RMB
| Nameoftheentity | Nature | Endingbalance | Aging | Proportiontototalendingbalanceofotherreceivables% | Endingbalanceofbaddebtprovision |
| DongguanWuheRealEstateCo.,Ltd. | Intra-companyfunds | 2,113,760,170.00 | Within1year | 46.75% | |
| ShenzhenGuangmingWuhe | Intra-companyfunds | 1,471,000,000.00 | Within1year | 32.54% |
| RealEstateCo.,Ltd. | |||||
| YangzhouWuheRealEstateCo.,Ltd. | Intra-companyfunds | 750,436,602.93 | Within1year | 16.60% | |
| SZPRDXuzhouDapengRealEstateDevelopmentCo.,Ltd. | Intra-companyfunds | 41,346,763.61 | Within1year | 0.91% | |
| ShumYipPropertiesDevelopmentCo.,Ltd. | Intra-companyfunds | 111,203,099.25 | Over5years | 2.46% | 6,057,072.72 |
| Total | 4,487,746,635.79 | 99.26% | 6,057,072.72 |
7)PresentationinOtherReceivablesduetotheCentralizedManagementofFunds
Unit:RMBOthernotes:
3.Long-termEquityInvestment
Unit:RMB
| Item | Endingbalance | Beginningbalance | ||||
| Carryingamount | Impairmentprovision | Carryingvalue | Carryingamount | Impairmentprovision | Carryingvalue | |
| Investmenttosubsidiaries | 1,356,325,401.10 | 65,834,000.00 | 1,290,491,401.10 | 1,436,329,880.39 | 68,364,000.00 | 1,367,965,880.39 |
| Investmenttojointventuresandassociatedenterprises | 103,041,364.69 | 18,983,614.14 | 84,057,750.55 | 98,765,051.45 | 18,983,614.14 | 79,781,437.31 |
| Total | 1,459,366,765.79 | 84,817,614.14 | 1,374,549,151.65 | 1,535,094,931.84 | 87,347,614.14 | 1,447,747,317.70 |
(1)InvestmenttoSubsidiaries
Unit:RMB
| Investee | Beginningbalance(carryingvalue) | Beginningbalanceofdepreciationreserve | Increase/decreaseforthecurrentperiod | Endingbalance(Carryingvalue) | Endingbalanceofdepreciationreserve | |||
| Additionalinvestment | Reducedinvestment | Withdrawalofimpairmentprovision | Others | |||||
| ShenzhenHuangchengRealEstateCo.,Ltd. | 35,552,671.93 | 35,552,671.93 | ||||||
| ShenzhenWuheIndustryInvestmentDevelopmentCo.,Ltd. | 44,950,000.00 | 44,950,000.00 | ||||||
| SZPRDYangzhouRealEstateDevelopmentCo.,Ltd. | 50,000,000.00 | 50,000,000.00 | ||||||
| DongguanITCChangshengRealEstateDevelopmentCo.,Ltd. | 20,000,000.00 | 20,000,000.00 | ||||||
| ShenzhenInternationalTradeCenterProperty | 195,337,851.23 | 195,337,851.23 | ||||||
| ManagementCo.,Ltd. | |||||||
| ShenzhenPropertyEngineeringandConstructionSupervisionCo.,Ltd. | 3,000,000.00 | 3,000,000.00 | |||||
| SZPRDCommercialOperationCo.,Ltd. | 63,509,120.32 | 63,509,120.32 | |||||
| ZhanjiangShenzhenRealEstateDevelopmentCo.,Ltd. | 2,530,000.00 | 2,530,000.00 | |||||
| ShumYipPropertiesDevelopmentCo.,Ltd. | 15,834,000.00 | 15,834,000.00 | |||||
| SZPRDXuzhouDapengRealEstateDevelopmentCo.,Ltd. | 50,000,000.00 | 50,000,000.00 | |||||
| ShenzhenRongyaoRealEstateDevelopmentCo.,Ltd. | 508,000,000.00 | 508,000,000.00 | |||||
| SZPRDUrbanRenewalCo.,Ltd. | 77,474,479.29 | 77,474,479.29 | |||||
| DongguanWuheRealEstateCo.,Ltd. | 50,000,000.00 | 50,000,000.00 | |||||
| ShenzhenGuangmingWuheRealEstateCo.,Ltd. | 50,000,000.00 | 50,000,000.00 | |||||
| ShenzhenWuheUrbanRenewalCo.,Ltd. | 236,641,757.62 | 236,641,757.62 | |||||
| YangzhouWuheRealEstateCo.,Ltd. | 33,500,000.00 | 33,500,000.00 | |||||
| Total | 1,367,965,880.39 | 68,364,000.00 | 80,004,479.29 | 1,290,491,401.10 | 65,834,000.00 |
(2)InvestmenttoJointVenturesandAssociatedEnterprises
Unit:RMB
| Investee | Beginningbalance(carryingvalue) | Beginningbalanceofdepreciationreserve | Increase/decreaseforthecurrentperiod | Endingbalance(Carryingvalue) | Endingbalanceofdepreciationreserve | |||||||
| Additionalinvestment | Reducedinvestment | Gainsandlossesrecognizedundertheequitymethod | Adjustmentofothercomprehensiveincome | Changesofotherequity | Cashbonusorprofitsannouncedtoissue | Withdrawalofimpairmentprovision | Others | |||||
| I.Jointventures | ||||||||||||
| ShenzhenRealEstateJifaWarehousingCo.,Ltd. | 44,730,585.30 | 3,335,233.21 | 48,065,818.51 | |||||||||
| Tian’an | 7,037,952.30 | 12,985.03 | 7,050,937.33 | |||||||||
| InternationalBuildingPropertyManagementCompanyofShenzhen | |||||||||
| Subtotal | 51,768,537.60 | 3,348,218.24 | 55,116,755.84 | ||||||
| II.Associatedenterprises | |||||||||
| ShenzhenWufangCeramicsIndustrialCo.,Ltd. | 18,983,614.14 | 18,983,614.14 | |||||||
| CSCECIntelligentParkingTechnologyCo.,Ltd. | 28,012,899.71 | 991,215.00 | 63,120.00 | 28,940,994.71 | |||||
| Subtotal | 28,012,899.71 | 18,983,614.14 | 991,215.00 | 63,120.00 | 28,940,994.71 | 18,983,614.14 | |||
| Total | 79,781,437.31 | 18,983,614.14 | 4,339,433.24 | 63,120.00 | 84,057,750.55 | 18,983,614.14 | |||
Therecoverableamountisdeterminedbasedonthenetamountofthefairvalueminusdisposalcosts
□Applicable?NotapplicableTherecoverableamountisdeterminedbythepresentvalueoftheforecastedfuturecashflow.
□Applicable?NotapplicableThereasonforthediscrepancybetweentheforegoinginformationandtheinformationusedintheimpairmenttestsinprioryearsorexternalinformationThereasonforthediscrepancybetweentheinformationusedintheCompany'simpairmenttestsinprioryearsandtheactualsituationofthoseyears
(3)OtherNotes
4.OperatingRevenueandCostofSales
Unit:RMB
| Item | Amountforthecurrentperiod | Amountforthepreviousperiod | ||
| Revenue | Cost | Revenue | Cost | |
| Principalbusiness | 1,036,514,608.68 | 790,579,825.41 | 56,064,949.33 | 44,999,240.65 |
| Others | 17,294,746.27 | 19,421,465.41 | ||
| Total | 1,053,809,354.95 | 790,579,825.41 | 75,486,414.74 | 44,999,240.65 |
Breakdowninformationofoperatingincomeandoperatingcost:
Unit:RMB
| Categoryofcontracts | Segment1 | Segment2 | Total | |||||
| OperatingRevenue | Operatingcost | OperatingRevenue | Operatingcost | OperatingRevenue | Operatingcost | OperatingRevenue | Operatingcost | |
| BusinessType | 1,053,809,354.95 | 790,579,825.41 | 1,053,809,354.95 | 790,579,825.41 | ||||
| Ofwhich: | ||||||||
| Realestatesalesbusiness | 977,069,378.47 | 739,184,462.23 | 977,069,378.47 | 739,184,462.23 | ||||
| Houseleasingbusiness | 76,739,976.48 | 51,395,363.18 | 76,739,976.48 | 51,395,363.18 | ||||
| Classification | ||||||||
| byoperatingregion | |||||
| Ofwhich: | |||||
| Shenzhen | 1,053,809,354.95 | 790,579,825.41 | 1,053,809,354.95 | 790,579,825.41 | |
| Marketorcustomertype | |||||
| Ofwhich: |
Contracttype
| Contracttype |
| Ofwhich: |
Classificationbytimeofcommoditytransfer
| Classificationbytimeofcommoditytransfer |
| Ofwhich: |
Classificationbycontractterm
| Classificationbycontractterm |
| Ofwhich: |
Classificationbysaleschannel
| Classificationbysaleschannel |
| Ofwhich: |
Total
| Total | 1,053,809,354.95 | 790,579,825.41 | 1,053,809,354.95 | 790,579,825.41 |
Informationaboutperformanceobligations:
| Item | Timingoffulfilmentofperformanceobligations | Importantpaymentterms | NatureofgoodsthattheCompanyiscommittedtotransfer | Whetherornotthepersonprimarilyresponsible | FundsundertakenbytheCompanyexpectedtobereturnedtocustomers | TypeofqualityassuranceprovidedbytheCompanyandrelatedobligations |
Othernotes:
Theincomeoftheparentcompanyincurrentperiodwasincomefromthesaleofrealestateandtherentalbusiness.Informationinrelationtothetransactionpriceapportionedtotheresidualcontractperformanceobligation:
TheamountofrevenuecorrespondingtoperformanceobligationsofcontractssignedbutnotperformedornotfullyperformedyetwasRMB0.00attheperiod-end,amongwhichRMB__wasexpectedtoberecognizedin__,RMB__wasexpectedtoberecognizedin__,andRMB__wasexpectedtoberecognizedin__.Significantcontractchangesorsignificanttransactionpriceadjustments
Unit:RMB
| Item | Accountingtreatment | Amountofimpactonrevenue |
Othernotes:
5.InvestmentIncome
Unit:RMB
| Item | Amountforthecurrentperiod | Amountforthepreviousperiod |
| Long-termequityinvestmentincomeaccountedbycostmethod | 151,433,108.41 | |
| Long-termequityinvestmentincomeaccountedbyequitymethod | 4,339,433.24 | 2,040,461.81 |
| Incomefromthedisposaloflong-termequityinvestments | 757,435,475.21 | |
| Entrustedloansinterest | 159,934,119.41 | |
| Total | 761,774,908.45 | 313,407,689.63 |
6.Other
XX.SupplementaryMaterials
1.ItemsandAmountsofNon-recurringProfitorLoss?Applicable□Notapplicable
Unit:RMB
| Item | Amount | Note |
| Gainsandlossesondisposalofnon-currentassets | 702,127,250.52 | Mainlyattributabletothereceiptofequitytransfer |
| Governmentgrantsrecognizedinprofitorlossforthecurrentperiod(exceptforgovernmentgrantscloselyrelatedtotheCompany'snormaloperatingbusiness,incompliancewithnationalpoliciesandinaccordancewithdefinedcriteria,andhavingacontinuousimpactontheCompany'sprofitorloss) | 7,802,977.21 | |
| Othernon-operatingincomeandexpenseotherthantheabove | -2,773,489.32 | |
| Otheritemsofprofitorlossthatmeetthedefinitionofnon-operatingprofitorloss | 5,684,844.32 | Mainlyattributabletothevalue-addedtaxcreditsanddeductions |
| Less:Incometaxeffects | 76,182,752.47 | |
| Effectsoftheminorityshareholders'equity(netoftax) | 284,222.25 | |
| Total | 636,374,608.01 | -- |
Detailsofotherprofitandlossitemsinlinewiththedefinitionofnon-recurringgainsandlosses:
?Applicable□NotapplicableThisismainlyduetothefactthattheVATpluscreditpreferentialpolicyisvaliduntil31December2023,andthisgaindoesnothaveasustainedimpactontheCompany'sprofitorloss.Therearenootherprofitandlossitemsinlinewiththedefinitionofnon-recurringgainsandlossesintheCompany.Notetodefiningthenon-recurringprofitandlossitemslistedintheExplanatoryNoticeofInformationDisclosurebyCompaniesOfferingSecuritiestothePublicNo.1-Non-recurringProfitandLossItemsasrecurringprofitandlossitems
□Applicable?Notapplicable
2.ReturnonEquityandEarningsPerShare
| Profitasofreportingperiod | WeightedaverageROE(%) | EPS | |
| EPS-basic | EPS-diluted | ||
| NetprofitattributabletoordinaryshareholdersoftheCompany | 10.26% | 0.7786 | 0.7786 |
| Netprofitattributabletoordinaryshareholdersofthe | -3.81% | -0.2892 | -0.2892 |
3.AccountingDataDifferencesunderPRCGAAPandThoseunderIFRSs
(1)DifferencesbetweenDisclosedNetProfitsandNetAssetsinFinancialReportinaccordancewithInternationalAccountingStandardsandChineseAccountingStandards
□Applicable?Notapplicable
(2)DifferencesbetweenDisclosedNetProfitsandNetAssetsinFinancialReportinaccordancewithDomesticAccountingStandardsandChineseAccountingStandards
□Applicable?Notapplicable
(3)ExplainReasonsfortheDifferencesbetweenAccountingDataUnderDomesticandOverseasAccountingStandards;forAnyAdjustmentMadetotheDifferenceExistingintheDataAuditedbytheForeignAuditingAgent,SuchForeignAuditingAgent'sNameShallBeClearlyStated.
4.Others