Shenzhen Properties & Resources Development
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ShenZhen Properties & Resources Development (Group) Ltd. Annual Report 2016 SHENZHEN PROPERTIES & RESOURCES DEVELOPMENT (GROUP) LTD. ANNUAL REPORT 2016 2017-3 March 2017 1 ShenZhen Properties & Resources Development (Group) Ltd. Annual Report 2016 Section I Important Statements, Contents and Definitions The board of directors (the “Board”), the supervisory board (the “Supervisory Board”), as well as the directors, supervisors and executive officers of ShenZhen Properties & Resources Development (Group) Ltd. (the “Company”) hereby guarantee the factuality, accuracy and completeness of the contents of this Report, and shall be jointly and severally liable for any false representation, misleading statements or material omissions in this Report. Chen Yugang, head of the Company, Wang Hangjun, accounting head for this Report, and Shen Xueying, head of the accounting department (head of accounting), hereby guarantee that the Financial Report carried in this Report is factual, accurate and complete. All directors attended the board meeting for the review of this Report. The Company is subject to the Guideline No. 3 of the Shenzhen Stock Exchange on Information Disclosure by Industry—for Listed Companies Engaging in Real Estate, for which it is required to include in this Report the changes in the country’s real estate policy and the related financial policy, as well as the supply and demand changes in the real estate sector. The Board has considered and approved the following proposal for profit distribution: Based on the total shares of 595,979,092, a cash dividend of RMB1.80 (tax inclusive) per 10 shares will be distributed to all shareholders of the Company. No bonus shares will be granted, nor will any capital reserve be converted into share capital. This Report has been prepared in both Chinese and English. Should there be any discrepancies or misunderstandings between the two versions, the Chinese version shall prevail. 2 ShenZhen Properties & Resources Development (Group) Ltd. Annual Report 2016 Table of Contents Section I Important Statements, Contents and Definitions............................................................2 Section II Corporate Profile and Financial Results........................................................................5 Section III Business Profile .............................................................................................................10 Section IV Performance Discussion and Analysis.........................................................................15 Section V Significant Events ...........................................................................................................32 Section VI Share Changes and Shareholders’ Profile...................................................................41 Section VII Preference Shares ........................................................................................................51 Section VIII Directors, Supervisors, Executive Officers and Staff..............................................52 Section IX Corporate Governance .................................................................................................61 Section X Corporate Bonds.............................................................................................................68 Section XI Financial Report............................................................................................................69 Section XII Documents Available for Reference .........................................................................221 3 ShenZhen Properties & Resources Development (Group) Ltd. Annual Report 2016 Definitions Term Definition Company, the Company ShenZhen Properties & Resources Development (Group) Ltd. SIHC Shenzhen Investment Holdings Co., Ltd. SCIHC Shenzhen Construction Investment Holdings Corporation SIM Shenzhen Investment Management Co., Ltd. 4 ShenZhen Properties & Resources Development (Group) Ltd. Annual Report 2016 Section II Corporate Profile and Financial Results I Corporate information Stock name SZPRD A, SZPRD B Stock code 000011, 200011 Stock exchange Shenzhen Stock Exchange Company name in Chinese 深圳市物业发展(集团)股份有限公司 Abbr. 深物业集团 Company name in English (if ShenZhen Properties & Resources Development (Group) Ltd. any) Abbr. (if any) SZPRD Legal representative Chen Yugang 39/F and 42/F, International Trade Center, Renmin South Road, Shenzhen, Guangdong Province, Registered address P.R.China Zip code 518014 39/F and 42/F, International Trade Center, Renmin South Road, Shenzhen, Guangdong Province, Office address P.R.China Zip code 518014 Company website www.szwuye.com.cn Email [email protected] II Contact information Board Secretary Securities Representative Name Fan Weiping Qian Zhong, Ding Minghua 42/F, International Trade Center, Renmin 42/F, International Trade Center, Renmin Address South Road, Shenzhen, Guangdong South Road, Shenzhen, Guangdong Province, P.R.China Province, P.R.China Tel. 0755-82211020 0755-82211020 Fax 0755-82210610 82212043 0755-82210610 82212043 E-mail [email protected] [email protected] III Information disclosure and place where this Report is kept Newspapers designated by the Company for A-share: Securities Times 5 ShenZhen Properties & Resources Development (Group) Ltd. Annual Report 2016 information disclosure B-share: Ta Kung Pao (HK) Website designated by the China Securities Regulatory Commission (CSRC) for the publication www.cninfo.com.cn of this Report Board Office, 42/F, International Trade Center, Renmin South Road, Place where this Report is kept Shenzhen, Guangdong Province, P.R.China IV Company registration and alteration Credibility code No changes Changes in main business activities of the No changes Company after going public (if any) Changes of controlling shareholder (if any) No changes V Other information The CPAs firm hired by the Company Name Union Power CPAs Co., Ltd. (LLP) 2~9/F, Union Power Building, 169 Donghu Road, Wuchang District, Wuhan, Hubei Province, Office address P.R.China Accountants writing signatures Fan Guiming, Tang Jiajun Sponsor engaged by the Company to continuously perform its supervisory function during this Reporting Period □ Applicable √ Not applicable Financial advisor engaged by the Company to continuously perform its supervisory function during this Reporting Period □ Applicable √ Not applicable VI Accounting and financial results Indicate by tick mark whether the Company performed any retroactive adjustments to or restatement of its accounting data due to changes of accounting policies or correction of accounting errors □ Yes √ No 2016 2015 +/-% 2014 Operating revenues (RMB) 2,059,204,077.18 1,077,418,500.93 91.12% 1,268,451,451.86 Net profit attributable to shareholders of the Company 354,857,241.74 156,819,966.71 126.28% 417,498,679.91 (RMB) Net profit attributable to shareholders of the Company 357,519,344.14 18,480,611.70 1,834.56% 253,778,668.88 before exceptional profit and loss (RMB) 6 ShenZhen Properties & Resources Development (Group) Ltd. Annual Report 2016 Net cash flows from operating 2,252,041,183.42 309,767,629.66 627.01% -14,627,057.08 activities (RMB) Basic earnings per share 0.5954 0.2631 126.30% 0.7005 (RMB/share) Diluted earnings per share 0.5954 0.2631 126.30% 0.7005 (RMB/share) Weighted average return on equity 15.79% 7.59% 8.20% 21.82% (%) December 31, 2016 December 31, 2015 +/-% December 31, 2014 Total assets (RMB) 6,654,356,144.10 4,379,763,486.10 51.93% 3,883,288,145.46 Net assets attributable to shareholders of the Company 2,410,434,735.75 2,099,906,766.61 14.79% 2,074,242,662.07 (RMB) VII Differences in accounting data under domestic and foreign accounting standards 1. Differences in the net profit and the net assets disclosed in the financial reports prepared under Chinese and international accounting standards √ Applicable □ Not applicable Unit: RMB Net profit attributable to shareholders of the Net assets attributable to shareholders of the Company Company 2016 2015 Closing amount Opening amount According to Chinese 354,857,241.74 156,819,966.71 2,410,434,735.75 2,099,906,766.61 accounting standards Items and amounts adjusted according to international accounting standards According to international 354,857,241.74 156,819,966.71 2,410,434,735.75 2,099,906,766.61 accounting standards 2. Differences in the net profit and the net assets disclosed in the financial reports prepared under Chinese and foreign accounting standards √ Applicable □ Not applicable Unit: RMB Net profit attributable to shareholders of the Net assets attributable to shareholders of the Company Company 2016 2015 Closing amount Opening amount According to Chinese 354,857,241.74 156,819,966.71 2,410,434,735.75 2,099,906,766.61 accounting standards Items and amounts adjusted according to overseas accounting standards According to overseas 354,857,241.74 156,819,966.71 2,410,434,735.75 2,099,906,766.61 accounting standards 7 ShenZhen Properties & Resources Development (Group) Ltd. Annual Report 2016 3. Reasons for the differences in accounting data under domestic and foreign accounting standards √ Applicable □ Not applicable No differences. VIII Financial results by quarter Unit: RMB 1Q 2Q 3Q 4Q Operating revenues 196,079,291.87 175,978,188.09 157,661,237.17 1,529,485,360.05 Net profit attributable to 577,026.01 -5,825,730.64 -1,953,780.96 362,059,727.33 shareholders of the Company Net profit attributable to shareholders of the Company 193,418.02 -6,058,699.93 -2,164,014.76 365,548,640.81 before exceptional