深物业B：2019年年度报告（英文版）.PDF

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1、ShenZhen Properties & Resources Development (Group) Ltd.Annual Report 20191SHENZHEN PROPERTIES & RESOURCESDEVELOPMENT (GROUP) LTD.ANNUAL REPORT 2019(Announcement No. 2020-9)March 2020ShenZhen Properties & Resources Development (Group) Ltd.Annual Report 20192Part I Important Notes, Table of Contents

2、and DefinitionsThe Board of Directors (or the “Board”), the Supervisory Committee as well as the directors,supervisors and senior management of ShenZhen Properties & Resources Development(Group) Ltd. (hereinafter referred to as the “Company”) hereby guarantee the factuality,accuracy and completeness

3、 of the contents of this Report and its summary, and shall bejointly and severally liable for any misrepresentations, misleading statements or materialomissions therein.Liu Shengxiang, the Companys legal representative, Cai Lili, the Companys head offinancial affairs, and Liu Qiang, head of the Comp

4、anys financial department (equivalent tofinancial manager) hereby guarantee that the Financial Statements carried in this Report arefactual, accurate and complete.All the Companys directors have attended the Board meeting for the review of this Reportand its summary.The Company is subject to the Gui

5、deline No. 3 of the Shenzhen Stock Exchange onInformation Disclosure by Industryfor Listed Companies Engaging in Real Estate.The Company has described in detail in this Report the possible risks facing it, along withcountermeasures. Please refer to the section headed “Prospects” of “Part IV Operatin

6、gPerformance Discussion andAnalysis” of this Report.The Board has approved a final dividend plan as follows: based on the total share capital of595,979,092 shares, a cash dividend of RMB3.6 (tax inclusive) per 10 shares is to bedistributed to the shareholders, with no bonus issue from either profit

7、or capital reserves.This Report and its summary have been prepared in both Chinese and English. Should therebe any discrepancies or misunderstandings between the two versions, the Chinese versionsshall prevail.ShenZhen Properties & Resources Development (Group) Ltd.Annual Report 20193Table of Conten

8、tsPart I Important Notes, Table of Contents and Definitions. 2Part II Corporate Information and Key Financial Information. 6Part III Business Summary. 11Part IV Operating Performance Discussion andAnalysis.18Part V Significant Events.46Part VI Share Changes and Shareholder Information.65Part VII Pre

9、ferred Shares.74Part VIII Convertible Corporate Bonds.75Part IX Directors, Supervisors, Senior Management and Staff.76Part X Corporate Governance.85Part XI Corporate Bonds.93Part XII Financial Statements.94Part XIII Documents Available for Reference.271ShenZhen Properties & Resources Development (Gr

10、oup) Ltd.Annual Report 20194DefinitionsTermDefinitionThe “Company”, the “Group”, “SZPRD” or “we”ShenZhenProperties&ResourcesDevelopment(Group)Ltd.anditsconsolidated subsidiaries, except where the context otherwise requiresSIHCShenzhen Investment Holdings Co., Ltd.SCIHCShenzhen Construction Investmen

11、t Holdings CorporationSIMShenzhen Investment Management Co., Ltd.TK PropertyShenzhen Toukong Property Management Co., Ltd.Huangcheng Real EstateShenzhen Huangcheng Real Estate Co., Ltd.Dongguan CompanyDongguan ITC Changsheng Real Estate Development Co., Ltd.Xuzhou CompanySZPRD Xuzhou Dapeng Real Est

12、ate Development Co., Ltd.Yangzhou CompanySZPRDYangzhou Real Estate Development Co., Ltd.Rongyao Real EstateShenzhen Rongyao Real Estate Development Co., Ltd.ITC Property ManagementShenzhen International Trade Center Property Management Co., Ltd.Huangcheng Property ManagementShenzhen Huangcheng Prope

13、rty Management Co., Ltd.Shandong Shenguomao Real Estate ManagementShandong Shenguomao Real Estate Management Co., Ltd.Chongqing Shenguomao Real Estate ManagementChongqing Shenguomao Real Estate Management Co., Ltd.Yangzhou Jingyue Property DevelopmentYangzhou Shouxihu Jingyue Property Development Co

14、., Ltd.Shenshan Guomao Property DevelopmentShenzhen Shenshan Special Cooperation Zone Guomao Property DevelopmentCo., Ltd.Guomao Tongle Property ManagementShenzhen Guomao Tongle Property Management Co., Ltd.HousingAssets Operation and ManagementCompanyShenzhen SZPRD HousingAssets Operation and Manag

15、ement Co., Ltd.Guomao CateringShenzhen Guomao Catering Co., Ltd.Jifa WarehousingShenzhen Real Estate Jifa Warehousing Co., Ltd.Supervision CompanyShenzhen Property Engineering and Construction Supervision Co., Ltd.Tianan CompanyShenzhen Tianan International Mansion PropertyAdministration Co., Ltd.In

16、dustrial parkAspecial park built by a government or an enterprise for the purpose ofachieving industrial development, of which those built by an enterprise usuallyfall into the following categories: logistics parks, technology parks, culturalcreation park, company headquarters and ecological agricul

17、ture parksShenZhen Properties & Resources Development (Group) Ltd.Annual Report 20195RMB, RMB0,000, RMB00,000,000Expressed in the Chinese currency of Renminbi, expressed in tens of thousandsof Renminbi, expressed in hundreds of millions of RenminbiIFMAInternational Facility Management AssociationCOV

18、ID-19The novel coronavirus disease that started in 2019ShenZhen Properties & Resources Development (Group) Ltd.Annual Report 20196Part II Corporate Information and Key Financial InformationI Corporate InformationStock namePRD, PRD-BStock code000011, 200011Changed stock name (if any)N/AStockexchangef

19、orstocklistingShenzhen Stock ExchangeCompany 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 (ifany)ShenZhen Properties & Resources Development (Group) Ltd.Abbr. (if any)SZPRDLegal representativeLiu ShengxiangRegistered address39/F and 42/F, International Trade Center, Renmin South

20、 Road, Luohu District, Shenzhen,Guangdong Province, P.R.ChinaZip code518014Office address16/F, 20/F, 39/F and 42/F, International Trade Center, Renmin South Road, Luohu District,Shenzhen, Guangdong Province, P.R.ChinaZip code518014Company Email II Contact InformationBoard SecretarySecurities Represe

21、ntativeNameFan WeipingQian Zhong and Ding MinghuaAddress39/F, International Trade Center, Renmin SouthRoad, Luohu District, Shenzhen, GuangdongProvince, P.R.China39/F, International Trade Center, Renmin SouthRoad, Luohu District, Shenzhen, GuangdongProvince, P.R.ChinaTel.0755-822110200755-82211020Fa

22、x0755-82210610 822120430755-82210610 82212043Email ShenZhen Properties & Resources Development (Group) Ltd.Annual Report 20197III Media for Information Disclosure and Place where this Report Is LodgedNewspapersdesignatedbytheCompanyforinformation disclosureForA-stock investors: Securities TimesFor B

23、-stock investors: Ta Kung Pao (HK)Website designated by CSRC for publication of thisRPlace where this Report is lodgedBoard Office, 39/F, International Trade Center, Renmin South Road, LuohuDistrict, Shenzhen, Guangdong Province, P.R.ChinaIV Change to Company Registered InformationUnified social cre

24、dit codeNo changeChangetoprincipalactivityoftheCompany since going public (if any)No changeEvery change of controlling shareholdersince incorporation (if any)On 29 September 2004, the State-Owned Assets Supervision and AdministrationCommission of Shenzhen Municipality (“SASAC Shenzhen”) decided to i

25、ncorporateShenzhen Investment Holdings Co., Ltd. (“SIHC”) to include Shenzhen InvestmentManagement Co., Ltd. (“SIM”, the former controlling shareholder of the Company)and Shenzhen Construction Investment Holdings Corporation (“SCIHC”). SCIHC andSIMhold323,796,324and56,582,573sharesrespectivelyintheC

26、ompany,representing a combined stake of 63.82%.On 19 October 2018, the Company was notified by its actual controlling shareholderSIHC that it had received the Confirmation of Securities Transfer Registration fromChina Securities Depository and Clearing Co., Ltd. (Shenzhen branch), marking thecomplet

27、ion of the equity transfer to SIHC. As such, SIHC has become the controllingshareholder of the Company.The controlling shareholder remained unchanged during the Reporting Period.V Other InformationThe independent audit firm hired by the Company:NamePan-China Certified PublicAccountants LLPOffice add

28、ress4/F, Tower A2, Yuzhu Plaza, 856 Huangpu Boulevard East, Huangpu District, GuangzhouCity, Guangdong Province, ChinaAccountants writing signaturesWang Huansen and Chen YanThe independent sponsor hired by the Company to exercise constant supervision over the Company in the Reporting Period:Applicab

29、le Not applicableThe independent financial advisor hired by the Company to exercise constant supervision over the Company in the Reporting Period:Applicable Not applicableShenZhen Properties & Resources Development (Group) Ltd.Annual Report 20198VI Key Financial InformationIndicate by tick mark whet

30、her there is any retrospectively restated datum in the table below. Yes NoReasons for the retrospective restatements:Business combination under common control201920182019-over-2018change(%)2017BeforeRestatedRestatedBeforeRestatedOperatingrevenue(RMB)3,961,669,942.442,787,240,632.533,376,673,249.9017

31、.32%2,904,690,690.533,313,178,320.65Net profit attributabletothelistedcompanysshareholders (RMB)817,805,780.12592,723,852.71698,050,728.9617.16%622,962,734.37663,742,776.33Net profit attributabletothelistedcompanysshareholdersbeforeexceptional gains andlosses (RMB)695,675,201.19591,362,024.37591,362

32、,024.3717.64%559,625,850.90559,625,850.90Netcashgeneratedfrom/used in operatingactivities (RMB)939,789,565.961,123,594,927.591,231,718,056.18-23.70%-346,269,760.94-274,210,826.57Basicearningspershare (RMB/share)1.37220.99451.171317.15%1.04531.1137Diluted earnings pershare (RMB/share)1.37220.99451.17

33、1317.15%1.04531.1137Weightedaveragereturn on equity (%)20.46%18.94%19.47%0.99%26.64%21.75%31 December201931 December 2018Change of31December2019 over31December2018 (%)31 December 2017ShenZhen Properties & Resources Development (Group) Ltd.Annual Report 20199BeforeRestatedRestatedBeforeRestatedTotal

34、assets (RMB)10,772,491,740.535,820,202,137.547,023,354,613.5553.38%5,393,331,548.876,429,389,760.43Equity attributable tothe listed companysshareholders (RMB)3,147,949,009.383,337,949,324.643,872,406,104.67-18.71%2,921,693,794.083,345,542,300.92VII Accounting Data Differences under Chinas Accounting

35、 Standards for BusinessEnterprises (CAS) and International Financial Reporting Standards (IFRS) and ForeignAccounting Standards1. Net Profit and Equity under CAS and IFRSApplicable Not applicableNo difference for the Reporting Period.2. Net Profit and Equity under CAS and Foreign Accounting Standard

36、sApplicable Not applicableNo difference for the Reporting Period.VIII Key Financial Information by QuarterUnit: RMBQ1Q2Q3Q4Operating revenue385,944,107.52369,445,972.44246,562,586.922,959,717,275.56Net profit attributable to the listedcompanys shareholders78,431,920.5925,317,477.57-689,810.21714,746

37、,192.17Net profit attributable to the listedcompanysshareholdersbeforeexceptional gains and losses77,831,706.9425,854,478.35-1,104,487.82593,093,503.72Net cash generated from/used inoperating activities-64,518,467.02-395,433,769.96994,222,491.29405,519,311.65Indicate by tick mark whether any of the

38、quarterly financial data in the table above or their summations differs materially from whathave been disclosed in the Companys quarterly or interim reports. Yes NoIX Exceptional Gains and LossesApplicable Not applicableUnit: RMBShenZhen Properties & Resources Development (Group) Ltd.Annual Report 2

39、01910Item201920182017NoteGain or loss on disposal of non-current assets(inclusive of impairment allowance write-offs)47,015.23-79,489.58104,883,756.37Government subsidies charged to current profit orloss (exclusive of government subsidies given in theCompanys ordinary course of business at fixedquot

40、as or amounts as per the governments uniformstandards)2,410,184.82165,676.08Current profit or loss on subsidiaries obtained inbusiness combinations involving enterprises undercommoncontrolfromtheperiod-beginningtocombination dates, net118,680,871.93105,442,907.4841,053,124.05Gain or loss on continge

41、ncies that do not arise in theCompanys ordinary course of business-5,491,792.67Non-operating income and expense other than theabove2,048,751.211,724,017.41-466,062.66Other gains and losses that meet the definition ofexceptional gain/loss91,337.56Less: Income tax effects1,146,936.51448,375.5735,589,0

42、17.57Non-controlling interests effects (net of tax)645.31116,031.23273,082.09Total122,130,578.93106,688,704.59104,116,925.43-Explanation of why the Company reclassifies as recurrent an exceptional gain/loss item defined or listed in the ExplanatoryAnnouncement No. 1 on Information Disclosure for Com

43、panies Offering Their Securities to the PublicExceptional Gain/LossItems:Applicable Not applicableNo such cases for the Reporting Period.ShenZhen Properties & Resources Development (Group) Ltd.Annual Report 201911Part III Business SummaryI Principal Activity of the Company in the Reporting Period(I)

44、 Core Business OverviewEstablished in November 1982, the Company was originally known as “Luohu Engineering and Construction Headquarters” andrenamed “Shenzhen Municipal Property Development Corporation” in August 1985. The Company was determined as the secondbatch of pilot units for joint-stock ref

45、orm of state-owned enterprises in 1988. Approved by the municipal government, the Companyrenamed to ShenZhen Properties & Resources Development (Group) Ltd. (SZPRD) in April 1990. The stock of the group company(stock name: PRD, PRD-B; stock code: 000011, 200011) was officially listed in Shenzhen Sto

46、ck Exchange in March 1992. TheCompany is headquartered in the International Trade Center, Renmin South Road, Luohu District, Shenzhen, Guangdong Province,P.R.China.At its inception, the Company contracted and built Shenzhen International Trade Centre Building as Party A, and created theworld-famous

47、Shenzhen Speed that one floor was completed in three days. International Trade Centre Building ranked the firstplace in several places in China: It was the first super-high-rise building in China, which has occupied the position of the tallestbuilding in the country for ten years; It was the first b

48、uilding project involving bidding in China. It is the landmark building inLuohu and even Shenzhen, a resounding historical and cultural symbol in Shenzhen and the cultural card in Shenzhen. It wasselected into the first batch of 45 historical buildings in Shenzhen and became The Reflection of the Sh

49、enzhen Speed and theSymbol of the Reform and Opening-up with a reputation for the whole country and even the world. The enterprise spirit of goingahead and reforming of Shenzhen Property Group has also become the spiritual totem of the numerous entrepreneurs in Shenzhen.Since its establishment 38 ye

50、ars ago, the Company has developed into a large-scale comprehensive group company from a simpleproject company at that time by focusing on the traditional real estate business and implementing the pluralistic development strategy,taking Luohu as its base area and radiating all over the country. Curr