ShenZhen Properties & Resources Development (Group) Ltd. Third Quarterly Report 2024

Stock Code: 000011 200011 Stock Name: PRD PRD-B Announcement No. 2024-48

SHENZHEN PROPERTIES & RESOURCES DEVELOPMENT

(GROUP) LTD.THIRD QUARTERLY REPORT 2024

ShenZhen Properties & Resources Development (Group) Ltd. (hereinafter referred to as the

“Company”) and all the members of the Company’s Board of Directors hereby guarantee

that the contents of this Report are true accurate and complete and free of any

misrepresentations misleading statements or material omissions.Important Notes:

1. The Board of Directors the Supervisory Committee as well as the directors supervisors and senior management of the Company

hereby guarantee that the contents of this Report are true accurate and complete and free of any misrepresentations misleading

statements or material omissions and collectively and individually accept legal responsibility for such contents.

2. The Company’s legal representative head of financial affairs and head of the financial department (equivalent to financial

manager) hereby guarantee that the financial statements carried in this Report are true accurate and complete.

3. Indicate whether the financial statements in this Report have been audited by an independent auditor.

□Yes □ No

I Key Financial Information

(I) Key Accounting Data and Financial Indicators

Indicate whether there is any retrospectively restated datum in the table below.□Yes □ No

Q3 2024 YoY change (%) Q1-Q3 2024 YoY change (%)

Operating revenue (RMB) 461778206.82 -11.51% 1317806652.07 -45.71%

Net profit attributable to the

listed company’s shareholders -5631440.84 -153.90% 3581016.97 -98.45%

(RMB)

Net profit attributable to the

listed company’s shareholders

before exceptional gains and -2115855.29 -118.82% 7623172.68 -96.72%

losses (RMB)

Net cash generated from/used

in operating activities (RMB) — — -1752947755.94 -86.56%

Basic earnings per share

(RMB/share) -0.0094 -153.90% 0.0060 -98.45%

Diluted earnings per share

(RMB/share) -0.0094 -153.90% 0.0060 -98.45%

Weighted average return on

equity (%) -0.13% -0.37% 0.08% -5.14%

30 September 2024 31 December 2023 YoY change (%)

Total assets (RMB) 16116648356.93 16988062068.09 -5.13%

Equity attributable to the

listed company’s shareholders 4478948594.89 4661810328.75 -3.92%

1ShenZhen Properties & Resources Development (Group) Ltd. Third Quarterly Report 2024

(RMB)

(II) Exceptional Gains and Losses

□ Applicable □ Not applicable

Unit: RMB

Item Q3 2024 Q1-Q3 2024 Note

Gain or loss on disposal of

non-current assets (inclusive

-4662.2721393.70

of impairment allowance

write-offs)

Government grants

recognised in profit or loss

(exclusive of those that are

closely related to the

Company's normal business

One-time government grants

operations and given in 100000.00 344448.00

received

accordance with defined

criteria and in compliance

with government policies and

have a continuing impact on

the Company's profit or loss)

Non-operating income and

-4331440.37 -4288762.26 Payment of compensation

expense other than the above

Other items that meet the Adjustment of the VAT

definition of exceptional 19035.81 -834439.22 deduction accrued in the

gain/loss previous year

Less: Income tax effects -707263.75 -871750.65

Non-controlling

interests effects (net of tax) 5782.48 156546.58

Total -3515585.56 -4042155.71 --

Other items that meet the definition of exceptional gain/loss:

□ Applicable □ Not applicable

Since the VAT deduction preferential policy is valid until 31 December 2023 and this benefit does not have a continuing impact

on the Company’s profit or loss the adjustment to this matter in 2024 based on the actual number of declaration is included in

exceptional gain/loss.Explanation of why the Company reclassifies as recurrent an exceptional gain/loss item listed in the Explanatory Announcement

No. 1 on Information Disclosure for Companies Offering Their Securities to the Public—Exceptional Gain/Loss Items:

□Applicable □ Not applicable

No such cases in the Reporting Period.(III) Changes in Key Financial Statement Line Items and Explanation of why

□ Applicable □ Not applicable

Balance

Change

sheet line 30 September 2024 1 January 2024 Main reasons for the change

(%)

items

Monetary Repayment of maturing borrowings payment of dividends and

1170874731.752748798476.72-57.40%

assets taxes

2ShenZhen Properties & Resources Development (Group) Ltd. Third Quarterly Report 2024

Construction Expenditures related to the renovation and upgrading project of

20276462.770.00100.00%

in progress the ITC Mall

Short-term

140043375.00 230915000.00 -39.35% Repayment of short-term borrowings

borrowings

Accounts

326460550.08 662869059.59 -50.75% Decreased payables for engineering

payable

Advances

from 432097.72 2265223.56 -80.92% Decreased rental advances received

customers

Income

Change

statemnet Q1~Q3 2024 Q1~Q3 2023 Main reasons for the change

(%)

line items

Operating

1317806652.07 2427326213.70 -45.71% Decreased real estate income carry-over in the current period

revenue

Cost of sales 1051029215.22 1747100763.88 -39.84% Decreased real estate cost carry-over in the current period

Taxes and Higher provisions for land value added tax in the same period of

17723090.0487090867.91-79.65%

levies last year

Selling

14719330.07 25371890.23 -41.99% Decreased payment of sales agency fees in the current period

expense

Finance

25895734.20 36018607.75 -28.10% Increased interest income in the current period

costs

Other

3084106.20 9328789.60 -66.94% Decreased VAT deduction in the current period

income

Return on Decreased return on joint venture investments in the current

54220.872711324.32-98.00%

investment period

Non-

operating 5081894.89 3590801.08 41.53% Increased payment of compensation in the current period

expense

Income tax

1220320.38 85692317.44 -98.58% Decreased gross profit in the current period

expense

Other

comprehensi

ve income -

Changes in

the fair Changes in the fair value of investments in other equity

-187279.28-309668.9639.52%

value of instruments

investments

in other

equity

instruments

Other

comprehensi

ve income -

Differences

arising from

the

-309994.85 1890614.71 -116.40% Exchange rate fluctuations

translation

of foreign

currency-

denominated

financial

statements

Cash flow

Change

statement Q1~Q3 2024 Q1~Q3 2023 Main reasons for the change

(%)

line items

Net cash

generated

Decreased cash inflows and increased payment of taxes in the

from/used in -1752947755.94 -939639052.92 -86.56%

current period

operating

activities

Net cash Decreased new bank loans and increased repayment of maturing

189441247.34431226026.33-56.07%

generated borrowings in the current period

3ShenZhen Properties & Resources Development (Group) Ltd. Third Quarterly Report 2024

from/used in

financing

activities

II Shareholder Information

(I) Numbers of Ordinary Shareholders and Preference Shareholders with Resumed Voting Rights as well

as Holdings of Top 10 Shareholders

Unit: share

Number of ordinary shareholders at Number of preferred shareholders with resumed

406880

the period-end voting rights at the period-end (if any)

Top 10 shareholders (exclusive of shares lent in refinancing)

Nature of Shareholdin Total shares Restricted Shares in pledge marked or frozen

Name of shareholder

shareholder g percentage held shares held Status Shares

Shenzhen Investment State-owned

Holdings Corporation corporation 50.87% 303144937.00 1733626 N/A 0

Shenzhen State- Domestic

Owned Equity non-state-

Operation and owned legal 6.38% 38037890.00

0.00 N/A 0

Management Co. Ltd. person

China Orient Asset State-owned

Management Co. Ltd. legal person 2.77% 16491402.00

0.00 N/A 0

Industrial and

Commercial Bank of

China Limited －

Southern China

Securities Full Index Other 0.50% 2996834.00 0.00 N/A 0

Real Estate Trading

Open-ended Index

Securities Investment

Fund

Hong Kong Securities

Foreign

Clearing Company 0.00

legal person 0.43% 2538542.00 N/A 0

Ltd.Domestic

Yang Yaochu natural 0.33% 1970484.00 0.00 N/A 0

person

Domestic

Duan Shaoteng natural 0.30% 1760565.00 0.00 N/A 0

person

Domestic

Li Xinyi natural 0.25% 1500000.00 0.00 N/A 0

person

Domestic

Mai Furong natural 0.21% 1248596.00 0.00 N/A 0

person

China Universal Asset

Management Co.Other 0.21% 1229200.00 0.00 N/A 0

Ltd.-Social Security

Fund 1103 Portfolio

Top 10 unrestricted shareholders (exclusive of shares lent in refinancing and locked shares of executives)

Shares by class and number

Name of shareholder Unrestricted shares held

Class Shares

RMB-

Shenzhen Investment Holdings

Corporation 301411311.00

denominated 301411311.00

ordinary stock

Shenzhen State-Owned Equity 38037890.00 RMB- 38037890.00

4ShenZhen Properties & Resources Development (Group) Ltd. Third Quarterly Report 2024

Operation and Management Co. Ltd. denominated

ordinary stock

RMB-

China Orient Asset Management Co.

16491402.00 denominated Ltd. 16491402.00

ordinary stock

Industrial and Commercial Bank of

China Limited － Southern China RMB-

Securities Full Index Real Estate 2996834.00 denominated 2996834.00

Trading Open-ended Index Securities ordinary stock

Investment Fund

RMB-

Hong Kong Securities Clearing

2538542.00 denominated Company Ltd. 2538542.00

ordinary stock

Domestically

Yang Yaochu 1970484.00 listed foreign 1970484.00

stock

RMB-

Duan Shaoteng 1760565.00 denominated 1760565.00

ordinary stock

RMB-

Li Xinyi 1500000.00 denominated 1500000.00

ordinary stock

Domestically

Mai Furong 1248596.00 listed foreign 1248596.00

stock

China Universal Asset Management RMB-

Co. Ltd.-Social Security Fund 1103 1229200.00 denominated 1229200.00

Portfolio ordinary stock

The first largest shareholder Shenzhen Investment Holding Corporation

is the actual controlling shareholder of the Company and Shenzhen

Related or acting-in-concert parties among the

State-Owned Equity Operation and Management Co. Ltd. And the

shareholders above

Company does not know whether there are related parties or acting-in-

concert parties among the other 8 shareholders.At the end of the Reporting Period among above shareholders Duan

Top 10 ordinary shareholders involved in securities

Shaoteng held 1760565 shares in the Company via his credit securities

margin trading (if any)

account.

5% or greater shareholders top 10 shareholders and Top 10 unrestricted shareholders involved in refinancing shares lending

□Applicable □ Not applicable

Changes in top 10 shareholders and top 10 unrestricted shareholders due to refinancing shares lending/return compared with the

prior period

□Applicable □ Not applicable

(II) Number of Preference Shareholders and Shareholdings of Top 10 of Them

□Applicable □ Not applicable

III Other Significant Events

□ Applicable □ Not applicable

(I) Matters concerning the application of the controlling shareholder of the Company to change the commitment to avoid

horizontal competition

During the Reporting Period the Company received the Letter on Changing the Commitment to Avoid Horizontal Competition

from its controlling shareholder Shenzhen Investment Holdings Co. Ltd. (“SIHC”) which applied for a change of the

commitment to avoid horizontal competition. This matter was reviewed and approved at the 29 th Meeting of the 10th Board of

5ShenZhen Properties & Resources Development (Group) Ltd. Third Quarterly Report 2024

Directors and the 24th Meeting of the 10th Supervisory Committee on 30 September 2024 and voted on and approved at the 2nd

Extraordinary General Meeting of 2024. For more details please refer to the Announcement on the Application of the Controlling

Shareholder of the Company to Change the Commitment to Avoid Horizontal Competition (Announcement No.: 2024-40) and the

Announcement on Resolutions of the 2nd Extraordinary General Meeting of 2024 (Announcement No.: 2024-47) disclosed by the

Company respectively on 30 September 2024 and 19 October 2024.(II) Matters concerning the change of independent directors of the Company

During the Reporting Period Mr. Mei Yonghong an independent director of the Company having served as an independent

director of the Company for six consecutive years applied for resignation as an independent director and other functions in the

relevant special committee of the Board of Directors in accordance with the Measures for the Administration of Independent

Directors of Listed Companies and other laws and regulations and the Articles of Association of the Company in respect of the

term service of independent directors and will no longer serve in any position of the Company after his resignation. In accordance

with the provisions of the Articles of Association of the Company the Company held the 29th Meeting of the 10th Board of

Directors and the 2nd Extraordinary General Meeting of 2024 respectively on 30 September 2024 and 18 October 2024 to elect Mr.Song Shaohua as an independent director of the Company with a term of office commencing from the date of the election at the

general meeting of the Company to the date of expiry of the term of office of the 10 th Board of Directors of the Company. For

more details please refer to the Announcement on the Proposed Appointment of Independent Director of the Company

(Announcement No.: 2024-41) and the Announcement on Resolutions of the 2nd Extraordinary General Meeting of 2024

(Announcement No.: 2024-47) disclosed by the Company on Cninfo respectively on 30 September 2024 and 19 October 2024.

IV Quarterly Financial Statements

(I) Financial Statements

1. Consolidated Balance Sheet

Prepared by ShenZhen Properties & Resources Development (Group) Ltd.Unit: RMB

Item 30 September 2024 1 January 2024

Current assets:

Monetary assets 1170874731.75 2748798476.72

Settlement reserve

Loans to other banks and financial

institutions

Held-for-trading financial assets

Derivative financial assets

Notes receivable 0.00 0.00

Accounts receivable 573078564.98 502806453.88

Receivables financing

Prepayments 10550677.00 11983086.35

Premiums receivable

Reinsurance receivables

Receivable reinsurance contract reserve

Other receivables 610702450.97 624394372.82

Including: Interest receivable 0.00 0.00

Dividends receivable 0.00 0.00

Financial assets purchased under resale

agreements

6ShenZhen Properties & Resources Development (Group) Ltd. Third Quarterly Report 2024

Inventories 11731778948.91 11098209095.74

Including: Data resource

Contract assets 679507.91 844485.57

Assets held for sale

Current portion of non-current assets

Other current assets 153487198.41 127774825.51

Total current assets 14251152079.93 15114810796.59

Non-current assets:

Loans and advances to customers

Debt investments

Other debt investments

Long-term receivables 0.00 0.00

Long-term equity investments 84018516.40 84057750.55

Investments in other equity instruments 453691.24 636926.20

Other non-current financial assets

Investment property 342288348.42 386810800.47

Fixed assets 55421604.23 66436408.90

Construction in progress 20276462.77

Productive living assets

Oil and gas assets

Right-of-use assets 17708439.82 23516796.22

Intangible assets 663400.98 889801.14

Including: Data resource

Development costs

Including: Data resource

Goodwill 9446847.38 9446847.38

Long-term prepaid expense 23862981.50 21510397.88

Deferred income tax assets 1307238731.54 1276440386.83

Other non-current assets 4117252.72 3505155.93

Total non-current assets 1865496277.00 1873251271.50

Total assets 16116648356.93 16988062068.09

Current liabilities:

Short-term borrowings 140043375.00 230915000.00

Borrowings from the central bank

Loans from other banks and financial

institutions

Held-for-trading financial liabilities

Derivative financial liabilities

Notes payable

Accounts payable 326460550.08 662869059.59

Advances from customers 432097.72 2265223.56

Contract liabilities 848861366.40 820424953.42

Financial assets sold under repurchase

agreements

Customer deposits and deposits from

other banks and financial institutions

Payables for acting trading of securities

Payables for underwriting of securities

Employee benefits payable 176800027.17 218786111.78

Taxes and levies payable 3141139402.05 4026957347.94

Other payables 1231829931.53 1217303294.25

Including: Interest payable 0.00 0.00

Dividends payable 12202676.04 12202676.04

Fees and commissions payable

Reinsurance payables

Liabilities directly associated with

assets held for sale

7ShenZhen Properties & Resources Development (Group) Ltd. Third Quarterly Report 2024

Current portion of non-current

liabilities 3463584975.13 3092324853.07

Other current liabilities 70650676.87 68373661.13

Total current liabilities 9399802401.95 10340219504.74

Non-current liabilities:

Insurance contract reserve

Long-term borrowings 1664017417.81 1399889274.47

Bonds payable

Including: Preference shares

Perpetual bonds

Lease liabilities 11579700.91 10571092.27

Long-term payables 399799725.00 400105655.56

Long-term employee benefits payable 0.00 0.00

Provisions 650000.00 650000.00

Deferred income 0.00 0.00

Deferred income tax liabilities 4223623.41 5862279.70

Other non-current liabilities 125794473.92 127039225.54

Total non-current liabilities 2206064941.05 1944117527.54

Total liabilities 11605867343.00 12284337032.28

Owners’ equity:

Share capital 595979092.00 595979092.00

Other equity instruments

Including: Preference shares

Perpetual bonds

Capital reserves 80488045.38 80488045.38

Less: Treasury stock 0.00 0.00

Other comprehensive income -3849612.01 -3352337.88

Specific reserve

Surplus reserves 116108727.08 116108727.08

General reserve

Retained earnings 3690222342.44 3872586802.17

Total equity attributable to owners of the

Company as the parent 4478948594.89 4661810328.75

Non-controlling interests 31832419.04 41914707.06

Total owners’ equity 4510781013.93 4703725035.81

Total liabilities and owners’ equity 16116648356.93 16988062068.09

Legal representative: Liu Shengxiang Head of financial affairs: Cai Lili

Head of the financial department: Cai Kelin

2. Consolidated Income Statement for Q1~Q3

Unit: RMB

Item Q1~Q3 2024 Q1~Q3 2023

1. Revenues 1317806652.07 2427326213.70

Including: Operating revenue 1317806652.07 2427326213.70

Interest income

Insurance premium income

Fee and commission

income

2. Costs and expenses 1303226108.88 2110887625.76

Including: Cost of sales 1051029215.22 1747100763.88

Interest expense

Fee and commission

expense

8ShenZhen Properties & Resources Development (Group) Ltd. Third Quarterly Report 2024

Surrenders

Net insurance claims paid

Net amount provided as

insurance contract reserve

Expenditure on policy

dividends

Reinsurance premium

expense

Taxes and levies 17723090.04 87090867.91

Selling expense 14719330.07 25371890.23

Administrative expense 189973110.10 211898457.07

Development costs 3885629.25 3407038.92

Finance costs 25895734.20 36018607.75

Including: Interest

expense 51686194.36 45973455.32

Interest

income 28730546.02 11814704.84

Add: Other income 3084106.20 9328789.60

Return on investment (“-” for loss) 54220.87 2711324.32

Including: Share of profit or loss

of joint ventures and associates 54220.87 2711324.32

Income from the derecognition

of financial assets at amortized cost (“-”

for loss)

Exchange gain (“-” for loss)

Net gain on exposure hedges (“-”

for loss)

Gain on changes in fair value (“-”

for loss)

Credit impairment loss (“-” for

loss) -17886806.82 -13788622.51

Asset impairment loss (“-” for

loss) -5858.65 2045.93

Asset disposal income (“-” for

loss) 21393.70 793144.88

3. Operating profit (“-” for loss) -152401.51 315485270.16

Add: Non-operating income 740343.21 907106.27

Less: Non-operating expense 5081894.89 3590801.08

4. Gross profit (“-” for loss) -4493953.19 312801575.35

Less: Income tax expense 1220320.38 85692317.44

5. Net profit (“-” for net loss) -5714273.57 227109257.91

5.1 By operating continuity

5.1.1 Net profit from continuing

operations (“-” for net loss) -5714273.59 227047902.08

5.1.2 Net profit from discontinued

operations (“-” for net loss) 0.00 61355.83

5.2 By ownership

5.2.1 Net profit attributable to

shareholders of the Company as the 3581016.97 231351500.28

parent (“-” for net loss)

5.2.2 Net profit attributable to non-

controlling interests (“-” for net loss) -9295290.54 -4242242.37

6. Other comprehensive income net of

tax -497274.13 1580945.75

Attributable to owners of the

Company as the parent -497274.13 1580945.75

6.1 Items that will not be

reclassified to profit or loss -187279.28 -309668.96

6.1.1 Changes caused by

remeasurements on defined benefit 0.00 0.00

schemes

9ShenZhen Properties & Resources Development (Group) Ltd. Third Quarterly Report 2024

6.1.2 Other comprehensive

income that will not be reclassified to 0.00 0.00

profit or loss under the equity method

6.1.3 Changes in the fair value of

investments in other equity instruments -187279.28 -309668.96

6.1.4 Changes in the fair value

arising from changes in own credit risk 0.00 0.00

6.1.5 Other 0.00 0.00

6.2 Items that will be reclassified to

profit or loss -309994.85 1890614.71

6.2.1 Other comprehensive

income that will be reclassified to profit

or loss under the equity method

6.2.2 Changes in the fair value of

other debt investments

6.2.3 Other comprehensive

income arising from the reclassification

of financial assets

6.2.4 Credit impairment

allowance for other debt investments

6.2.5 Reserve for cash flow

hedges

6.2.6 Differences arising from the

translation of foreign currency- -309994.85 1890614.71

denominated financial statements

6.2.7 Other

Attributable to non-controlling

interests 0.00 0.00

7. Total comprehensive income -6211547.70 228690203.66

7.1 Attributable to owners of the

Company as the parent 3083742.84 232932446.03

7.2 Attributable to non-controlling

interests -9295290.54 -4242242.37

8. Earnings per share

8.1 Basic earnings per share 0.0060 0.3882

8.2 Diluted earnings per share 0.0060 0.3882

Where business combinations under common control occurred in the current period the net profit achieved by the acquirees before

the combinations was RMB with the amount for the same period of last year being RMB .Legal representative: Liu Shengxiang Head of financial affairs: Cai Lili

Head of the financial department: Cai Kelin

3. Consolidated Cash Flow Statement for Q1~Q3

Unit: RMB

Item Q1~Q3 2024 Q1~Q3 2023

1. Cash flows from operating activities:

Proceeds from sale of commodities and

rendering of services 1504896063.82 1722297276.09

Net increase in customer deposits and

deposits from other banks and financial

institutions

Net increase in borrowings from the

central bank

Net increase in loans from other

financial institutions

Premiums received on original

insurance contracts

Net proceeds from reinsurance

10ShenZhen Properties & Resources Development (Group) Ltd. Third Quarterly Report 2024

Net increase in deposits and

investments of policy holders

Interest fees and commissions received

Net increase in loans from other banks

and financial institutions

Net increase in proceeds from

repurchase transactions

Net proceeds from acting trading of

securities

Tax and levy rebates 24277962.38 14416704.33

Cash generated from other operating

activities 383809134.20 240994365.07

Subtotal of cash generated from

operating activities 1912983160.40 1977708345.49

Payments for commodities and services 1645567147.64 1746506968.56

Net increase in loans and advances to

customers

Net increase in deposits in the central

bank and other banks and financial

institutions

Payments for claims on original

insurance contracts

Net increase in loans to other banks and

financial institutions

Interest fees and commissions paid

Policy dividends paid

Cash paid to and for employees 724656482.09 723393519.67

Taxes and levies paid 1010315431.85 224226839.66

Cash used in other operating activities 285391854.76 223220070.52

Subtotal of cash used in operating

activities 3665930916.34 2917347398.41

Net cash generated from/used in

operating activities -1752947755.94 -939639052.92

2. Cash flows from investing activities:

Proceeds from disinvestment

Return on investment 93455.02 63120.00

Net proceeds from the disposal of fixed

assets intangible assets and other long- 39273.50 78255.52

lived assets

Net proceeds from the disposal of

subsidiaries and other business units

Cash generated from other investing

activities

Subtotal of cash generated from

investing activities 132728.52 141375.52

Payments for the acquisition of fixed

assets intangible assets and other long- 7083504.38 4084842.48

lived assets

Payments for investments 0.00 1816919.56

Net increase in pledged loans granted

Net payments for the acquisition of

subsidiaries and other business units

Cash used in other investing activities

Subtotal of cash used in investing

activities 7083504.38 5901762.04

Net cash generated from/used in

investing activities -6950775.86 -5760386.52

3. Cash flows from financing activities:

Capital contributions received 0.00 0.00

Including: Capital contributions by 0.00 0.00

11ShenZhen Properties & Resources Development (Group) Ltd. Third Quarterly Report 2024

non-controlling interests to subsidiaries

Borrowings received 773984805.34 841843775.18

Cash generated from other financing

activities

Subtotal of cash generated from

financing activities 773984805.34 841843775.18

Repayment of borrowings 222133410.08 32326662.00

Interest and dividends paid 334438123.69 357864492.62

Including: Dividends paid by

subsidiaries to non-controlling interests 245000.00 245000.00

Cash used in other financing activities 27972024.23 20426594.23

Subtotal of cash used in financing

activities 584543558.00 410617748.85

Net cash generated from/used in

financing activities 189441247.34 431226026.33

4. Effect of foreign exchange rates

changes on cash and cash equivalents -550567.84 1642658.54

5. Net increase in cash and cash

equivalents -1571007852.30 -512530754.57

Add: Cash and cash equivalents

beginning of the period 2733139135.12 1509693857.48

6. Cash and cash equivalents end of the

period 1162131282.82 997163102.91

(II) Adjustments to Financial Statement Items at the Beginning of the Year of the First Implementation

of the New Accounting Standards Implemented since 2024

□ Applicable □ Not applicable

(III) Independent Auditor’s Report

Indicate by tick mark whether the financial statements above have been audited by an independent auditor.□Yes □ No

These financial statements have not been audited by such an auditor.Board of Directors

Shenzhen Properties & Resources Development (Group) Ltd.

31 October 2024

12